Document:

THE  SECURITIES  REPRESENTED  HEREBY AND ISSUABLE UPON EXERCISE  HEREOF HAVE NOT
BEEN  REGISTERED  UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE  "SECURITIES
ACT"), OR UNDER THE SECURITIES LAWS OF ANY STATE. SUCH SECURITIES ARE SUBJECT TO
RESTRICTIONS ON TRANSFERABILITY  AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD
EXCEPT AS PERMITTED  UNDER THE SECURITIES ACT AND  APPLICABLE  STATE  SECURITIES
LAWS,  PURSUANT TO  REGISTRATION  THEREUNDER OR EXEMPTION FROM THE  REGISTRATION
REQUIREMENTS  THEREOF.  INVESTORS  SHOULD BE AWARE THAT THEY MAY BE  REQUIRED TO
BEAR THE FINANCIAL  RISKS OF THIS  INVESTMENT FOR AN INDEFINITE  PERIOD OF TIME.
THE  ISSUER OF THESE  SECURITIES  MAY  REQUIRE AN OPINION OF COUNSEL IN FORM AND
SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR
RESALE  IS IN  COMPLIANCE  WITH  THE  SECURITIES  ACT AND ANY  APPLICABLE  STATE
SECURITIES LAWS.

                               CELSION CORPORATION
                        WARRANT TO PURCHASE COMMON STOCK

                             Void after June 1, 2007

         1.  Warrant to Purchase Common Stock.      Serial Number:
             --------------------------------

             1.1  Warrant  to  Purchase  Shares.  This  warrant  (this  "Initial
Warrant") certifies that, for good and valuable  consideration,  the receipt and
sufficiency of which is hereby  acknowledged,  __________________  (the "Warrant
Holder") is entitled,  effective as of June 1, 2002 (the "Issue Date"),  subject
to the terms and  conditions of this Initial  Warrant,  to purchase from Celsion
Corporation,   a  Delaware  corporation  (the  "Company"),  up  to  a  total  of
________________  (__________)  shares of the Common Stock of the  Company,  par
value One Cent ($0.01) per share (each, a "Warrant Share" and, collectively, the
"Warrant  Shares"),  at a purchase  price (the  "Exercise  Price") of Sixty-Five
Cents  ($0.65)  per  Warrant  Share,  at any time prior to 5:00 p.m.  prevailing
Eastern time on June 1, 2007 (the  "Expiration  Date").  The Warrant (as defined
below) must be exercised,  if at all, in whole or in part, any time on or before
the Expiration  Date,  subject to earlier  redemption by the Company as provided
herein. Unless the context otherwise requires,  the term "Shares" shall mean and
include the Common Stock of the Company and other securities and property at any
time  receivable  or  issuable  upon  exercise  of this  Initial  Warrant or any
Additional  Warrant issued pursuant  hereto.  The term "Warrant" as used herein,
shall include this Initial Warrant,  any Additional  Warrants (as defined below)
issued pursuant hereto,  and any warrants  delivered in substitution or exchange
therefor as provided herein.

             1.2  Contingent Issuance of Warrants to Purchase Additional Shares.
                  --------------------------------------------------------------
                  (a) In the event  that the high  sales  price  for the  Common
Stock as reported on the American Stock Exchange or other national market and/or
over-the-counter  market, as then constitutes the primary exchange on or through
which the Common Stock then is traded, has not exceeded $0.65 per share (subject
to adjustment  for stock splits,  stock  dividends,  recapitalizations,  and the
like) for any period of at least ten (10) consecutive trading days commencing on
or after the Issue Date and ending on the 90th calendar day following such Issue
Date (or, if such 90th day is not a trading day,  ending on the next  succeeding
business day) (the "First  Measurement  Date"),  then immediately  subsequent to
such First  Measurement  Date the Company  shall issue to the Warrant  Holder an
additional Warrant (an "Additional  Warrant") providing for the purchase of that
number of Warrant Shares equal to one-half (1/2) of the number of Warrant Shares
originally subject to this Warrant.

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                  (b) In the event  that the  Company  is  required  to issue an
Additional  Warrant in accordance  with  subsection (a) above and the high sales
price for the Common Stock as reported on the American  Stock  Exchange or other
national market and/or over-the-counter  market, as then constitutes the primary
exchange on or through  which the Common Stock then is traded,  has not exceeded
$0.65 per share  (subject  to  adjustment  for stock  splits,  stock  dividends,
recapitalizations, and the like) for any period of at least ten (10) consecutive
trading days commencing on or after the First Measurement Date and ending on the
180th  calendar  day  following  the Issue Date (or,  if such 180th day is not a
trading  day,  ending  on  the  next  succeeding   business  day)  (the  "Second
Measurement Date"), then immediately  subsequent to such Second Measurement Date
the Company shall issue to the Warrant  Holder an Additional  Warrant  providing
for the purchase of that number of Warrant  Shares equal to two-thirds  (2/3) of
the number of Warrant Shares originally subject to this Warrant.

                  (c) In the  event  that  the  Company  is  required  to  issue
Additional  Warrants in accordance  with subsection (a) and subsection (b) above
and the high sales price for the Common Stock as reported on the American  Stock
Exchange  or other  national  market  and/or  over-the-counter  market,  as then
constitutes  the primary  exchange on or through  which the Common Stock then is
traded,  has not  exceeded  $0.65 per share  (subject  to  adjustment  for stock
splits,  stock dividends,  recapitalizations  and the like) for any period of at
least ten (10)  consecutive  trading  days  commencing  on or after  the  Second
Measurement  Date and ending on the 270th  calendar day following the Issue Date
(or,  if such  270th day is not a  trading  day,  ending on the next  succeeding
business day) (the "Third  Measurement  Date"),  then immediately  subsequent to
such Third  Measurement  Date the Company  shall issue to the Warrant  Holder an
Additional  Warrant  providing for the purchase of that number of Warrant Shares
equal to five-sixths (5/6) of the number of Warrant Shares originally subject to
this Warrant.

                  (d) Any  Additional  Warrant(s)  issued  as  provided  in this
Section 1.2 shall be identical,  as to terms,  to this Initial Warrant and shall
differ  only in the  number of Shares  covered  thereby  and in that  Additional
Warrants shall not provide for the issuance of Additional Warrants.

             1.3 Adjustment of Exercise  Price and Number of Shares.  The number
and character of the Warrant Shares and the Exercise Price therefor, are subject
to adjustment upon occurrence of the following events:

                  (a)   Adjustment   for   Stock   Splits,    Stock   Dividends,
Recapitalizations,  and the like.  The  Exercise  Price of this  Warrant and the
number  of  Shares  issuable  upon  exercise  of  this  Warrant  shall  each  be
proportionally  adjusted to reflect any stock  dividend,  stock  split,  reverse
stock split, combination of shares, reclassification,  recapitalization or other
similar event altering the number of outstanding  shares of the Company's Common
Stock.

                  (b)  Adjustment  for  Capital  Reorganization,  Consolidation,
Merger.  If any  reorganization  of  the  capital  stock  of  the  Company,  any
consolidation or merger of the Company with or into another corporation,  or the
sale of all or substantially all of the Company's assets to another  corporation
shall be effected in such a way that holders of the Company's  Common Stock will

                                       2
<PAGE>

be  entitled  to  receive  stock,  securities  or assets  with  respect to or in
exchange  for the  Company's  Common  Stock,  then in each such case the Warrant
Holder,  upon the exercise of the Warrant at any time after the  consummation of
such capital reorganization,  consolidation,  merger, or sale, shall be entitled
to receive,  in lieu of the stock or other  securities  and property  receivable
upon the exercise of the Warrant prior to such consummation,  the stock or other
securities  or property to which such Warrant  Holder  would have been  entitled
upon such  consummation  if such  Warrant  Holder  had  exercised  this  Warrant
immediately   prior  to  the   consummation  of  such  capital   reorganization,
consolidation, merger, or sale, all subject to further adjustment as provided in
this  Section 1.3;  and in each such case,  the terms of this  Warrant  shall be
applicable  to the shares of stock or other  securities  or property  receivable
upon the exercise of this Warrant after such consummation.

         2.  Manner of Exercise.
             ------------------

             2.1 Warrant Exercise Agreement.  This Warrant may be exercised,  in
whole or in part,  on any  business  day on or  prior  to the  Expiration  Date,
subject to earlier  redemption  by the Company as provided  herein.  To exercise
this Warrant,  the Warrant Holder must surrender to the Company this Warrant and
deliver to the  Company:  (a) a duly  executed  exercise  agreement  in the form
attached  hereto as Exhibit A, or in such other form as may be  approved  by the
Company from time to time (the "Warrant Exercise Agreement"); and (b) payment in
full of the Exercise Price for the number of Warrant Shares to be purchased upon
exercise  hereof (the  "Aggregate  Exercise  Price").  If someone other than the
Warrant  Holder  exercises  this  Warrant,  then such  person must submit to the
Company  each of the  items set forth in  clauses  (a) and (b) of the  foregoing
sentence  and, in  addition,  must submit (c)  documentation  acceptable  to the
Company  that such  person has the right to  exercise  this  Warrant  and (d) if
applicable,  a spousal  consent in the form attached hereto as Exhibit B. Upon a
partial  exercise,  this Warrant shall be surrendered,  and a new warrant of the
same tenor for purchase of the number of remaining Warrant Shares not previously
purchased  shall be issued by the Company to the Warrant  Holder.  This  Warrant
shall be deemed to have been  exercised  as of the close of business on the date
of its surrender or, if such date is not a business day, then as of the close of
business on the next  succeeding  business day, for exercise as provided  above,
and the person  entitled  to  receive  the  Warrant  Shares  issuable  upon such
exercise  shall be  treated  for all  purposes  as the  holder of record of such
Warrant Shares as of the close of business on such deemed exercise date.

             2.2  Limitations on Exercise.  This Warrant may not be exercised as
to fewer than One Hundred (100) Warrant Shares, unless it is exercised as to all
Warrant Shares as to which this Warrant is then  exercisable and in no event may
this Warrant be issued other than for a whole number of Warrant Shares.

             2.3 Payment. The Warrant Exercise Agreement shall be accompanied by
full  payment of the  Aggregate  Exercise  Price for the  Warrant  Shares  being
purchased,  in cash,  by certified or cashier's  check,  wire  transfer or other
immediately available funds.

                                       3
<PAGE>

             2.4 Tax  Withholding.  Prior to the issuance of the Warrant  Shares
upon  exercise of this Warrant,  the Warrant  Holder must pay or provide for any
applicable federal or state withholding obligations of the Company.

             2.5  Issuance  of  Shares.   Provided  that  the  Warrant  Exercise
Agreement,  any other  documentation  required  hereby and  payment as  required
hereby have been  received by the Company as provided  above,  the Company shall
issue the Warrant Shares  (adjusted as provided  herein)  purchased  pursuant to
such  exercise,  registered  in the  name of the  Warrant  Holder,  the  Warrant
Holder's authorized assignee or the Warrant Holder's legal  representative,  and
shall deliver one or more  certificates  representing  the Warrant Shares as the
Warrant  Holder  reasonably  may request with the  appropriate  legends  affixed
thereto.

         3. Registration  Rights.  The Warrant Shares will have the registration
rights as provided for in Section 4 of the Subscription  Agreement  entered into
between the Company and the Warrant  Holder in connection  with the issuance and
purchase of this Warrant (the "Subscription Agreement").

         4. Redemption.  The Company,  at its sole discretion,  may, at any time
and from time to time after September 3, 2002, redeem and cancel all or any part
of the Warrant then outstanding upon the payment of consideration  consisting of
One Cent ($0.01) for each  Warrant  Share  subject to this Warrant  redeemed and
cancelled; provided, however, that any such redemptions and cancellations may be
made by the Company only upon thirty (30) calendar  days' prior  written  notice
(the "Redemption Date" being the close of business on the 30th day following the
date the notice is deemed to be given to the Warrant Holder  pursuant to Section
9 hereof)  and only if the  closing  sales  price  for a share of the  Company's
Common Stock as reported on the American Stock Exchange or other national market
and/or  over-the-counter  market, as then constitutes the primary exchange on or
through which the Common Stock then is traded, has been equal to or greater than
Two Dollars ($2.00) for any period of at least ten (10) consecutive trading days
commencing on or after the Issue Date; and provided,  further,  that any Warrant
Holder subject to such redemption and  cancellation may exercise such Warrant at
any time prior to the  expiration  of the thirty  (30)-day  notice  period;  and
provided further that the Company's right to redeem and cancel the Warrant shall
be  suspended  in the event  the shelf  registration  statement  required  under
Section  4 of the  Subscription  Agreement  is  subject  to a stop  order  or is
otherwise  not in effect or if the Warrant  Holder is advised under Section 4(c)
of the  Subscription  Agreement  that  the  prospectus  included  in such  shelf
registration  statement contains a material  misstatement or omission during any
portion of the thirty (30)-day notice period,  with such suspension to terminate
and the  Company's  right to  redeem  and  cancel to be  reinstated  on the date
following the date on which (i) a  registration  statement  covering the Warrant
Shares is  effective  and not subject to any stop order and (ii) the Company has
delivered to the Warrant Holder a prospectus covering the Warrant Shares of such
Warrant  Holder under  Section 4(c) of the  Subscription  Agreement.  The notice
period  shall then be extended  for a period  equal to the number of days during
the notice period during which  registration was not effective or the prospectus
was not available or contained a material misstatement or omission. If less than
all of the  outstanding  Warrants are redeemed and cancelled,  Warrants shall be
redeemed and cancelled on a pro rata basis.

                                       4
<PAGE>

         5. Compliance  with Laws and  Regulations.  The issuance,  transfer and
exercise of this Warrant and the  issuance  and  transfer of the Warrant  Shares
shall be subject to  compliance  by the Company and the Warrant  Holder with all
applicable  requirements  of  federal  and  state  securities  laws and with all
applicable  requirements of any stock exchange and/or over-the-counter market on
which the  Company's  Common Stock may be listed at the time of such issuance or
transfer.

         6. Transfer and Exchange. This Warrant and the rights hereunder may not
be transferred in whole or in part without the Company's prior written  consent,
which consent shall not be  unreasonably  withheld,  and may not be  transferred
unless such transfer complies with all applicable securities laws. If a transfer
of all or part  of this  Warrant  is  permitted  as  provided  in the  preceding
sentence,  then this Warrant and all rights  hereunder  may be  transferred,  in
whole or in part, on the books of the Company or its agent  maintained  for such
purpose at the  principal  office of the  Company or its agent,  by the  Warrant
Holder in person or by its duly  authorized  attorney,  upon  surrender  of this
Warrant  properly  endorsed  and upon payment of any  necessary  transfer tax or
other governmental charge imposed upon such transfer. Upon any permitted partial
transfer, the Company will issue and deliver to the Warrant Holder a new Warrant
or  Warrants  of like tenor with  respect to the  portion of the  Warrant not so
transferred.  Each taker and holder of this  Warrant or any portion  hereof,  by
taking  or  holding  the same,  consents  and  agrees to be bound by the  terms,
conditions,  representations  and warranties hereof,  including the registration
provisions  contained  in  Section 4 of the  Subscription  Agreement,  (and as a
condition  to any  transfer of this  Warrant  the  transferee  shall  execute an
agreement  confirming  the  same),  and,  when this  Warrant  shall have been so
endorsed,  the  person in  possession  of this  Warrant  may be  treated  by the
Company,  and all other persons dealing with this Warrant, as the absolute owner
hereof  for any  purpose  and as the  person  entitled  to  exercise  the rights
represented  hereby,  any  notice  to the  contrary  notwithstanding;  provided,
however,  that until a transfer of this Warrant is duly  registered on the books
of the Company or its agent,  the Company may treat the Warrant Holder hereof as
the owner of this Warrant for all purposes.

         7.  Privileges of Stock  Ownership.  This Warrant shall not entitle the
holder  hereof to any  voting  rights or other  rights as a  shareholder  of the
Corporation,  or to  any  other  rights  whatsoever  except  the  rights  herein
expressed and such as are set forth, and no dividends shall be payable or accrue
in respect  of this  Warrant or the  interest  represented  hereby or the shares
purchasable  hereunder  until or unless,  and except to the  extent  that,  this
Warrant shall be exercised.

         8. Entire  Agreement.  The Warrant  Exercise  Agreement is incorporated
herein by  reference.  This Warrant,  the Warrant  Exercise  Agreement,  and the
Subscription  Agreement  for the  purposes  and to the extent set forth  herein,
constitute  the  entire  agreement  of  the  parties  and  supersede  all  prior
undertakings and agreements with respect to the subject matter hereof.

             9.  Notices.  Any notice  required to be given or  delivered to the
Company under the terms of this Warrant shall be in writing and addressed to the
Secretary of the Company at its principal corporate offices. Any notice required
to be given or delivered to the Warrant Holder shall be in writing and addressed
to the Warrant Holder at the address indicated below or at such other address as
such  party may  designate  in  writing  from time to time to the  Company.  All

                                       5
<PAGE>

notices shall be deemed to have been given or delivered: upon personal delivery;
five (5) calendar  days after  deposit in the United States mail by certified or
registered mail (return receipt requested) with postage thereon prepaid; one (1)
business  day after  deposit  for next  business  day  delivery  with any return
receipt express courier (prepaid); or one (1) business day after transmission by
fax or telecopier with confirmation of transmission thereof.

         10.  Successors  and Assigns.  This  Warrant  shall be binding upon and
inure to the benefit of the  successors  and assigns of the Company.  Subject to
the  restrictions  on transfer set forth  herein,  this Warrant shall be binding
upon  the  Warrant   Holder  and  the   Warrant   Holder's   heirs,   executors,
administrators, legal representatives, successors and assigns.

         11.  Governing  Law. This Warrant shall be governed by and construed in
accordance  with the laws of the State of  Maryland  as such laws are applied to
agreements  between Maryland residents entered into and to be performed entirely
within Maryland.

         12.  Acceptance.  The Warrant Holder has read and understands the terms
and  provisions  of this  Warrant,  and accepts this Warrant  subject to all the
terms and conditions hereof.  The Warrant Holder  acknowledges that there may be
adverse tax  consequences  upon exercise of this Warrant or  disposition  of the
Warrant Shares and that the Warrant Holder should consult a tax adviser prior to
such exercise or disposition.

         13.  Amendment.  This  Warrant  may  be  modified  only  by  a  written
instrument signed by or on behalf of the Company and the Warrant Holder.

         14.  Captions  and  Headings.  Captions to and  headings of the various
provisions hereof are solely for the convenience of the parties,  are not a part
of  this  agreement,  and  shall  not  be  used  for  the  interpretation  of or
determination of the validity of this Agreement or any term or provision hereof.

                            [Execution Page Follows]

                                       6
<PAGE>

         IN WITNESS WHEREOF, the Company has caused this Warrant to be executed
by its Chief Financial Officer as of June 1, 2002.

                                      CELSION CORPORATION

                                      Signed:
                                             -----------------------------------

                                      Printed: ANTHONY  P. DEASEY
                                              ----------------------------------

                                      Title:   Executive Vice President-Finance
                                               and Administration,
                                               Chief Financial Officer

                                      Address:
                                      10220-I Old Columbia Road
                                      Columbia, Maryland 21046-1785

ATTEST:

[Corporate Seal]

_____________________________
John Mon
Corporate Secretary

                                 WARRANT HOLDER

                                 Print Name:____________________________________

                                 Signed:
                                        ________________________________________

                                 Title:_________________________________________

                                 Address:

                                 _______________________________________________

                                 _______________________________________________

                                 _______________________________________________

                                       7
<PAGE>

                                                                 Execution Copy

                                       8
<PAGE>

                                    EXHIBIT A

                               CELSION CORPORATION
                           WARRANT EXERCISE AGREEMENT

CELSION CORPORATION
10220-I Old Columbia Road
Columbia, Maryland 21046-1785
Attention: Chief Financial Officer

         The Warrant  Holder  hereby  elects to  purchase  the number of Warrant
Shares (as defined in that certain  Warrant dated as of the date set forth below
(the  "Warrant"),  the terms and conditions of which are hereby  incorporated by
reference), and provides the information set forth below in connection with such
purchase (please print):

Warrant Holder:_________________________________________________________________

Social Security or Tax I.D. No.:________________________________________________

Address:________________________________________________________________________

________________________________________________________________________________

Warrant Date:___________________________________________________________________

Date of Exercise:_______________________________________________________________

Exercise Price Per Shares:______________________________________________________

Number of Shares Subject to Exercise and Purchase:______________________________

Total Exercise Price:___________________________________________________________

Exact Name of in which Shares are to be Issued:_________________________________

________________________________________________________________________________

The Warrant Holder hereby delivers to the Company the Aggregate Exercise Price
in cash, by certified or cashier's check, wire transfer or other immediately
available funds, in the aggregate amount of $_______, receipt of which is
acknowledged by the Company.

                                       9
<PAGE>

         Tax  Consequences.  THE  COMPANY IS UNDER NO  OBLIGATION  TO REPORT THE
EXERCISE OF THIS WARRANT TO THE INTERNAL REVENUE SERVICE OR ANY TAXING AUTHORITY
OF ANY STATE, LOCAL OR OTHER  JURISDICTION.  THE WARRANT HOLDER UNDERSTANDS THAT
HE, SHE OR IT MAY SUFFER  ADVERSE  TAX  CONSEQUENCES  AS A RESULT OF THE WARRANT
HOLDER'S PURCHASE OR DISPOSITION OF THE WARRANT OR THE UNDERLYING WARRANT SHARES
(EACH, AS DEFINED IN THE WARRANT). THE WARRANT HOLDER REPRESENTS THAT HE, SHE OR
IT HAS CONSULTED WITH A TAX  CONSULTANT(S) THE WARRANT HOLDER DEEMS ADVISABLE IN
CONNECTION  WITH THE PURCHASE OR  DISPOSITION  OF THE WARRANT OR THE  UNDERLYING
WARRANT SHARES AND THAT THE WARRANT HOLDER IS NOT RELYING ON THE COMPANY FOR ANY
TAX ADVICE.

                             __________________________________________
                                      Name of Warrant Holder

                             __________________________________________
                                    Signature of Warrant Holder

                             __________________________________________
                                           Printed Name

                             __________________________________________
                                              Title

                                       10
<PAGE>

                                    EXHIBIT B

                                 SPOUSAL CONSENT

         The undersigned spouse of the Warrant Holder has read, understands, and
hereby approves the Warrant  Exercise  Agreement  between the Warrant Holder and
the Company (the  "Agreement").  In consideration of the Company's  granting the
Warrant  Holder the right to  purchase  the  Warrant  Shares as set forth in the
Agreement,  the  undersigned  hereby  agrees  to be  bound  irrevocably  by  the
Agreement  and  further  agrees  that  any  community  property  interest  shall
similarly be bound by the Agreement. The undersigned hereby appoints the Warrant
Holder as his or her attorney-in-fact  with respect to any amendment or exercise
of any rights under the Agreement.

Date:____________________________
                                          Warrant Holder's Spouse

                                          Address:______________________________

                                          ______________________________________

                                          ______________________________________

                                       11<PAGE>
                                                                    Exhibit 10.1

                                   PFIZER INC
                                   235 EAST 42ND STREET
                                   NEW YORK, NY 10017-5755

[PFIZER LOGO]

                                           July 13,2002

Dear Mr. Hassan:

      This letter sets forth the agreement ("Agreement") governing your
employment by Pfizer Inc (the "Company"). This Agreement shall become effective
at the "Effective Time", which shall be immediately following the closing of the
transaction contemplated by the Merger Agreement by and between Pfizer Inc and
Pharmacia Corporation, provided you are still employed by Pharmacia Corporation
immediately prior to the Effective Time.

      The Company acknowledges that your Pharmacia Corporation stock options
which will be converted into options to purchase Company common stock at the
Effective Time shall be fully vested and remain exercisable for the balance of
the respective original terms of the stock options, i.e., the maximum permitted
under the applicable Pharmacia Corporation stock option plans. The Company
recognizes that immediately upon the Effective Time you may resign for "Good
Reason" (as that term is defined in your employment letter dated November 15,
1999 with Pharmacia Corporation (together with the November 15, 1999 pension
letter from Frank C. Carlucci to you, and the Pharmacia Corporation Board of
Directors Resolutions regarding compensation plans and arrangements dated June
18, 2002, the "Employment Letter")) under your Employment Letter. Accordingly,
the Company will pay compensation and benefits to you under the Employment
Letter (including, without limitation, the severance benefits and the lump sum
value of your retirement benefits) on the same terms and conditions as if you
had resigned for Good Reason at the Effective Time; provided, however, that your
severance compensation, provided in paragraph 7(i) of the Employment Letter,
will be held for you and paid to you at the end of the Active Employment Term,
as defined below. Thus, your Employment Letter will not govern your employment
relationship with the Company, and you shall not otherwise be entitled to any
severance from Pharmacia Corporation.

      In consideration of the agreements hereinafter contained, you and the
Company agree as follows:

I.    TERM AND POSITION

      a. Active Employment Term; Position: The Active Employment Term shall be
the period of time commencing at the Effective Time and ending on the earlier of
1) the first anniversary of the Effective Time, or 2) the occurrence of an event
described in Clause II.e or Article III hereof; provided, however, that the
Active Employment Term may be extended until the second anniversary of the
Effective Time at the discretion of the Company. During the
<PAGE>
Page 2

Active Employment Term, the Company shall employ you and you shall serve as Vice
Chairman of the Company with duties and responsibilities consistent with your
position as directed by the Company's Chairman and Chief Executive Officer
("CEO"), and you shall be a member of the Company's Board of Directors. In the
capacity of Vice Chairman, you shall report to the Company's Chairman and CEO.
You shall devote substantially all of your business time to the performance of
such duties. Your regular place of business shall be in Morris Plains, New
Jersey, and you shall be paid from the Company's New Jersey payroll, but you
shall also have an office and be available for attendance at the Company's
corporate headquarters as required.

      b. Consulting Term: After the first anniversary of the Effective Time (or
the second anniversary of the Effective Time if the Company extends the Active
Employment Term), the Consulting Term shall commence, and you shall be a
consultant until the earlier of 1) the fifth anniversary of the commencement of
the Consulting Term, or 2) the occurrence of an event described in Clause II.e
or Article III hereof. In such capacity as a consultant, you shall perform such
services at such times and in such places as may reasonably be directed by the
Company's Chairman and CEO and/or the Board of Directors; provided, however,
that you will not be required to perform more than 40 hours of consulting
services in any one month. Your reasonably incurred expenses in performing your
services shall be reimbursed by the Company in the same manner and to the same
extent as are the expenses of the Company's senior executive employees.

      c. Boards of Directors: Subject to your ability to properly perform your
duties to the Company, during the Active Employment Term and during the
Consulting Term, there shall be no limitation on the number of outside boards of
directors of which you are a member; provided that you have agreed to obtain the
consent of the Company's Chairman before accepting an appointment to a new board
of directors.

      d. Resignations: Upon the earlier of 1) your becoming a consultant
pursuant to Clause I.b., or 2) the expiration of the Active Employment Term, you
shall submit to the Secretary of the Company your resignations as an officer of
the Company and all positions with affiliated companies, effective as of the
date of the earlier of such events specified in this Clause I.d.

      e. Noncompetition; Nonsolicitation: During the Active Employment Term and
for one year thereafter (or two years thereafter if you continue to be a Vice
Chairman on the second anniversary of the Effective Time) and during the
Consulting Term, you agree that you shall not, without the prior written consent
of the Company, 1) own more than 5% of, accept employment with, serve as a
director, consultant, agent or representative of, or lend your name or
assistance to any venture, enterprise, company, business or endeavor which is in
competition with the Company or its affiliated companies in fields in which the
Company and its affiliated companies have annual sales of more than ten million
dollars ($10,000,000) (a "Competitor"), or 2) solicit or encourage any employees
of the Company to leave employment with the Company; provided, however, if you
have not commenced your duties and responsibilities as Vice Chairman, there will
be no noncompetition restriction.
<PAGE>
Page 3

II.   BASE SALARY AND OTHER COMPENSATION

      a. Base Salary: During the Active Employment Term, you shall be paid a
base salary at a rate of One Million Five Hundred Thousand Dollars ($1,500,000)
per year ("Base Salary"), payable in conformity with the Company's regular
payroll policies, practices and procedures. In no event shall your Base Salary
be reduced.

      b. Annual Bonus: During the Active Employment Term, you will participate
in the Company's annual incentive plan, with an annual bonus of 125% of your
Base Salary.

      c. Equity and Long-Term Incentive Programs: During the Active Employment
Term, you shall receive an annual equity award in the first year of 900,000
options to purchase Pfizer Inc common stock. Such options shall vest in
accordance with the standard vesting schedule under the Company's stock option
plan; provided that they shall become fully vested at the end of the Active
Employment Term and shall remain exercisable for the duration of their l0-year
term. Notwithstanding anything else contained herein, you will not be eligible
to participate in the Performance Contingent Share Award Plan or any other stock
incentive compensation plan or program.

      d. Consulting Fee: During the Consulting Term, you shall be paid a
consulting fee of Eight Hundred Fifty Thousand Dollars ($850,000) per year,
payable in accordance with the Company's regular payroll policies, practices and
procedures; provided, however, that if the Company does not elect to continue
the Active Employment Term beyond the first anniversary of the Effective Time,
the Consulting Fee for the first year of the Consulting Term shall be One
Million Five Hundred Thousand Dollars ($1,500,000). In no event shall your
Consulting Fee be reduced below Eight Hundred Fifty Thousand Dollars ($850,000).

      e. Severance Upon Termination without Cause or for Good Reason: In the
event that the Company terminates your employment during, or at the end of, the
Active Employment Term without Cause (except for your becoming a consultant in
accordance with the terms of this Agreement) or you terminate employment for
Good Reason, the Company will pay you in a lump sum promptly following such
termination an amount equal to the sum of 1) your Base Salary for the remainder
of the originally scheduled Active Employment Term (unaffected by its early
termination), and 2) five years of your Consulting Fee; provided that if such
termination occurs on or prior to the first anniversary of the Effective Time,
the amount of the Consulting Fee attributable to the period between the first
and second anniversaries of the Effective Time shall be One Million Five Hundred
Thousand ($1,500,000). In the event that the Company terminates the consulting
arrangement during the Consulting Term without Cause or you terminate the
consulting arrangement for Good Reason, the Company will pay you in a lump sum
promptly following such termination the balance of your Consulting Fees for the
remainder of the originally scheduled Consulting Term (unaffected by its early
termination). For purposes of this Agreement, the term "Cause" means (i) a
material breach by you of your duties and responsibilities (other than as a
result of incapacity due to physical or mental illness) which is demonstrably
willful and deliberate on your part, which is committed in bad faith or without
reasonable belief that such breach is in the best interests of the Company, and
which is not remedied in a reasonable period of time after receipt of written
notice from the Company's CEO
<PAGE>
Page 4

specifying such breach, or (ii) your conviction of a felony which is materially
and demonstrably injurious to the Company as determined in the sole discretion
of the Board of Directors of the Company. Furthermore, no termination by the
Company for Cause shall become effective without your being given a written
explanation of the basis for the termination and a hearing before the Board. For
purposes of this Agreement, the term "Good Reason" means that, without your
consent, (a) your rate of annual Base Salary or the target amount of your annual
incentive bonus are reduced, (b) your rate of annual Consulting Fee is reduced,
(c) there is a change in reporting so that you no longer report to the Company's
CEO, (d) the assignment to you of duties which are materially inconsistent with
your duties or materially impair your ability to function as a Vice Chairman of
the Company (applicable only during the Active Employment Term), (e) the Company
fails to nominate you for election (or reelection) to the Board of Directors
(applicable only during the Active Employment Term), (t) the relocation of your
regular place of business outside of New Jersey, or (g) the failure of the
Company to obtain the assumption in writing of its obligation to perform this
Agreement by any successor to all or substantially all of the assets of the
company within 15 days after a merger, consolidation, sale or similar
transaction.

III.  OTHER TERMINATIONS

      a. Disability: If you should, in the reasonable judgment of the Board of
Directors of the Company, come under such disability as would prevent you from
performing substantially all of your major duties under this Agreement, and if
such disability should be present for a total of six months out of any
twelve-month period commencing with the start of such disability, the Company
may terminate your employment by notice in writing to you. Upon such
termination, you shall receive the benefits to which you are entitled under the
short-term and long-term disability plans applicable to the CEO and the Vice
Chairman of the Company (collectively, the "Comparable Executives").

      b. The Death: Company's obligations hereunder shall terminate in the event
of your death, except that your beneficiaries or estate shall be entitled to
life insurance and other death benefits provided for under the various plans and
perquisite programs applicable to the Comparable Executives.

      c. Cause: If the Company terminates you for Cause either during the Active
Employment Term during the Consulting Term, the Company's obligations under this
Agreement shall terminate as of the date of such termination.

      d. Resignation: If you resign from the Company without Good Reason either
during the Active Employment Term or during the Consulting Term, the Company's
obligations under this Agreement shall terminate as of the date of such
resignation.

IV.   OTHER BENEFITS

      a. General Benefits: During the Active Employment Term (but not during the
Consulting Term), you will be eligible to participate in any plans or benefits
now in effect or hereafter adopted or amended by Pharmacia Corporation
(including, but not limited to, the following plans: accidental death and
dismemberment, medical (including retiree medical),
<PAGE>
Page 5

dental, group life insurance, short and long term disability, accidental death
and dismemberment, business travel accident, retirement and supplemental
pension, and 401(k) and profit sharing), or if such plans or benefits have been
harmonized with the Company's programs, then in such plans or benefits as are
applicable to the Comparable Executives. You shall be credited with all years of
service with Pharmacia Corporation and with PNU for purposes of determining your
level of benefits under the Company's benefit plans.

      b. Perquisites: During the Active Employment Term and the Consulting Term,
you will be eligible to participate in executive perquisite programs on the same
basis as do the Comparable Executives (including, but not limited to, executive
medical, personal expense reimbursement, subscriptions, computer, fax, home
phone, Lexis/Nexis and Bloomberg access, tax and financial planning). For
security reasons, you and your family shall also be entitled to a company
provided home security system, the use of a chauffeured car (with a chauffeur of
your own choosing) at any time prior to the second anniversary of the Effective
Time.

      c. Office/Secretarial Support: During the Active Employment Term and the
Consulting Term, you shall be entitled to an appropriate executive office and a
secretary of your own choosing.

      d. Corporate Aircraft: Subject to availability during the Active
Employment Term and the Consulting Term, you may utilize the Company's corporate
aircraft for all Company business travel and for up to 70 hours of personal
travel per year, with priority rules for access to the aircraft similar to the
access afforded to the previous CEO of the Company.

      e. Excise Tax Gross-Up: In the event that any payment or benefit provided
to you under this Agreement is determined to be a Parachute Payment, as defined
under Section 280G(b)(2) of the Internal Revenue Code, you shall be fully
grossed-up by the Company.

      f. Attorneys Fees: The Company shall pay reasonable legal and other
professional fees and expenses incurred by you in connection with the
preparation and negotiation of this Agreement.

V.    GENERAL PROVISIONS

      a. Assignments: This Agreement shall inure to the benefit of and be
binding on the Company, its corporate successors and assigns. This Agreement is
personal to you and may not be assigned or encumbered. This Agreement shall be
binding on you, your heirs, legal representatives, executors and administrators.

      b. Corporate Policies: You specifically agree to be bound by and to
observe all of the applicable policies of the Company during the Active
Employment Term and during the Consulting Term to the extent that such policies
do not conflict with the terms and provisions of this Agreement.

      c. Indemnification: To the fullest extent permitted by applicable law, the
Company will, during and after termination of your employment, indemnify you
(including providing
<PAGE>
Page 6

advancement of reasonable expenses) for any judgments, fines, amounts paid in
settlement and reasonable expenses, including attorneys' fees, incurred by you
in connection with the defense of any lawsuit or other claim to which you are
made, or threatened to be made, a party by reason of being or having been an
officer, director or employee of the Company or any of its subsidiaries or
affiliates. In addition, you will be covered under any directors and officers'
liability insurance policy for your acts (or non-acts) as an officer or director
of the Company or any of its subsidiaries or affiliates to the extent the
Company provides such coverage for its senior executive officers.

      d. Arbitration: Any disputes arising under or in connection with this
Agreement shall, unless other arrangements are agreed upon in writing by you and
the Company, be resolved by binding arbitration to be held in New York, New
York, in accordance with the Commercial Arbitration Rules of the American
Arbitration Association. Judgment upon the award rendered by the arbitrator(s)
may be entered in any court having jurisdiction. Each party shall bear his or
its own costs of the arbitration or litigation, including (but not by way of
limitation) his or its attorneys' fees.

      e. Notices: All notices, requests or demands to be given by either party
to the other, under the provisions of this Agreement, shall be delivered or
mailed by Registered or Certified letter, or sent by nationally recognized
courier service, if to the Company, addressed to: General Counsel, Pfizer Inc,
235 East 42nd Street, New York, New York, 10017, and if to you, to the address
given on the first page of this Agreement or to such other address as either
party may, from time to time, by written notice, designate as its address for
the purposes of this Agreement.

      f. Entire Agreement: The terms and provisions contained in this Agreement
constitute the entire agreement between you and the Company relating to your
employment by the Company or its affiliated companies and shall supersede all
previous communications, representations, agreements or understandings, either
oral or written, between you and the Company or its affiliated companies with
respect to your employment by the Company or its affiliated companies; and no
agreement or understanding varying or extending this Agreement or waiving any
right or obligation under this Agreement shall be binding upon either party
unless it is in a writing wherein this Agreement is specifically referenced
which has been signed by you and by a duly authorized officer or representative
of the Company. Notwithstanding anything in the foregoing to the contrary,
nothing herein shall terminate your rights under your Letter Agreement relating
to your employment with Pharmacia Corporation, including, but not limited to,
your rights to Code Sections 280G and 4999 gross-up payments and continued
indemnification under that Letter Agreement and Pharmacia Corporation's Excess
Parachute Tax Indemnity Plan.

      g. Construction: This Agreement shall be governed by and construed in
accordance with the procedural and substantive laws (other than the provisions
relating to conflict of laws) of the State of New York.

      h. Severability: If and to the extent that any court of competent
jurisdiction holds any provision (or any part thereof) of this Agreement to be
invalid or unenforceable, such holding shall in no way affect the validity of
the remainder of this Agreement.
<PAGE>
Page 7

      i. Withholding: Payments under this Agreement shall be subject to such
withholding taxes as may be required by applicable law.

      j. Continuation of Obligations: Notwithstanding the termination of the
obligations of one party under this Agreement, the obligations of the other
party hereto shall continue, except as expressly provided herein.

      k. Counterparts and Headings: This Agreement may be executed in two or
more counterparts, each of which shall be deemed an original and all of which
together shall constitute one and the same instrument. All headings in this
Agreement are inserted for convenience of reference only and shall not be deemed
to affect the meaning or interpretation of this Agreement.

      If you accept the terms and provisions of this Agreement and agree to be
bound thereby, please execute both copies of this Agreement at the place
indicated and return one copy to the Company.

                                                        Very truly yours,

                                                        PFIZER INC

                                                  By: /s/ Dr. Henry Mckinnell
                                                      __________________________
                                                      Dr. Henry Mckinnell

Agreed and Accepted this
________day of_________, 2002

   /s/ Fred Hassan
__________________________
       Fred Hassan

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