Document:

EXHIBIT  4.4

                        GOLDPAC INVESTMENT PARTNERS LTD.

September 11, 2003

Celsion Corporation
102201 Old Columbia Road
Columbia MD USA 21046

Attention:     Dr. Augustine Y.  Cheung
               President and Chief Executive Officer

         RE:   CELSION CORPORATION--INTRODUCTION OF
               STRATEGIC CANADIAN AND HONG KONG INVESTORS
               ------------------------------------------

Dear Sir:

 We refer to the various discussions with you recently and propose to act as an
advisor to Celsion Corporation (the "COMPANY") in respect of the introduction of
strategic investors in Canada and Hong Kong (the "ENGAGEMENT") on the terms and
conditions set forth in this letter agreement (this "AGREEMENT").

1. BACKGROUND INFORMATION

        Based on our various discussions, we understand the following:

           (A)    The Company is a research and development company dedicated to
                  commercializing medical treatment systems, for cancer and
                  other diseases using focused heat technology delivered by
                  patented microwave technology,

           (B)    The Company currently is seeking up to US $800,800 through a
                  private placements abroad to fund its further development and
                  the commercialization of certain of its products
                  (collectively, the "FINANCING").

2. SCOPE OF SERVICES

        Goldpac Investment Partners Ltd., a British Virgin Islands corporation
("GOLDPAC") shall act as an advisor to the Company with respect to potential
participation in the Financing by one or more investors in Canada and/or Hong
Kong. In its role as advisor, Goldpac will, at the request and subject to the
control of the Company, identify, on a "best efforts" basis, investors who are
residents of Canada and/or Hong Kong (or otherwise are non-resident aliens in
the United States) willing to make an aggregate investment of up to
<PAGE>

US $3.0 million pursuant to the Financing and facilitate meetings between such
potential investors and Company representatives. In addition, to the extent that
the Company deems necessary and appropriate and so directs Goldpac, Goldpac will
arrange road shows in Hong Kong and/or Canada for such potential investors. All
activities of Goldpac will be conducted outside of the United States and all
investors identified or contacted by Goldpac will be either individuals who are
neither U.S. citizens, nor resident aliens of the U.S. or who are foreign
(non-U.S.) corporations or other entities not engaged in any U.S. trade or
business ("PERMITTED INVESTORS"). Anything to the contrary contained herein
notwithstanding, Celsion shall have the right, in its sole and absolute
discretion, to reject any proposed investment from any Permitted Investor for
any reason or for no reason.

3. FEE STRUCTURE

        As compensation for its services hereunder, Celsion shall compensate
Goldpac as follows:

           (A)    The Company shall pay to Goldpac a Success Fee, in U.S.
                  dollars, in an amount equal to seven and one half percent
                  (7.5%) of the purchase price of any securities of Celsion
                  purchased by Permitted Investors introduced to the Company by
                  Goldpac.

           (B)    The Company will grant to Goldpac common stock purchase
                  warrants ("WARRANTS"), exercisable for a period of five (5)
                  years from the date of the final closing of the Financing, at
                  an exercise price equal to the price per common share paid by
                  the Permitted Investors. Goldpac shall be entitled to receive
                  Warrants to purchase nine (9) shares of the Company's Common
                  Stock, par value $0.01 per share, for each 100 shares acquired
                  in the Financing by each Permitted Investor introduced to the
                  Company by Goldpac pursuant hereto. Additionally, Goldpac
                  shall be entitled to receive Warrants to purchase nine (9)
                  shares of the Company's Common Stock, par value $0.01 per
                  share, for each warrant to purchase 100 shares acquired by
                  each Permitted Investor introduced to the Company by Goldpac
                  pursuant hereto.

4. TERM AND TERMINATION OF ENGAGEMENT

           (A)    Subject to Section 4(B) below, the Engagement will be for a
                  period of one (1) month commencing with the date of this
                  Agreement and will be subject to extension or renewal upon
                  mutual agreement by the parties.

           (B)    The Engagement may be terminated by the Company or by Goldpac
                  at any time, for any reason, upon written notice to that
                  effect to Goldpac or the Company, as the case may be;
                  provided, however, that Sections 3(A), 3(B), 7, 8 and 9 under
                  this Agreement shall survive any such termination and shall
                  remain in full force and effect.

5. RESPONSIBILITIES OF THE COMPANY

        In agreeing to the terms of this letter, the Company undertakes to:

           (A)    Bear and pay all of its own professional fees and
                  out-of-pocket expenses, such as the fees of legal and other
                  financial advisors and the expenses such as printing,
                  translation, photocopying and issuance of press releases, if
                  any;

           (B)    Provide Goldpac with, and allow Goldpac to disclose to
                  potential Permitted Investors, the same information that the
                  Company makes available to Sterling, including, without
                  limitation, such number of copies of the Private Placement
                  Package prepared in connection with the Financing as

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<PAGE>

                  Goldpac reasonably may request; and

           (C)    Accept full responsibility for the accuracy of all information
                  and facts provided by the Company to Goldpac pursuant to
                  clause (B) above, and promptly notify Goldpac of any of any
                  material events or developments relating to the Company's
                  financial condition, business operation or prospects that have
                  not been previously disclosed to Goldpac.

6. REPRESENTATIONS AND WARRANTIES

           (A)    The Company hereby represents and warrants to Goldpac that, as
                  of the date hereof:

                  (1)      The Company is a corporation duly organized, validly
                           existing and in good standing under the laws of the
                           State of Delaware. The Company has all necessary
                           corporate power and authority to own its assets and
                           to carry on its business as now being conducted and
                           presently proposed to be conducted. The Company is
                           duly qualified to do business as a foreign
                           corporation and is in good standing in each
                           jurisdiction in which its ownership or leasing of
                           assets, or the conduct of its business, makes such
                           qualification necessary, except where the failure to
                           be so qualified or in good standing would not have a
                           material adverse effect on the Company.

                  (2)      The Company has all necessary corporate power and
                           authority to execute, deliver and carry out the terms
                           of this Agreement. All corporate action on the part
                           of the Company required for the lawful execution and
                           delivery of this Agreement has been taken. Upon
                           execution and delivery, this Agreement constitutes a
                           valid and binding obligation of the Company,
                           enforceable in accordance with its terms, except as
                           enforcement may be limited by insolvency and similar
                           laws affecting the enforcement of creditors' rights
                           generally and equitable; remedies, and except as the
                           indemnity Provisions or Section 7 this Agreement may
                           be limited by law.

                  (3)      Neither the execution and delivery of, nor the
                           consummation by the Company of any transaction or
                           execution of any instrument contemplated by, this
                           Agreement has constituted or resulted in, or will
                           constitute or result in, a material default under or
                           breach or violation of any term or provision of the
                           Company's Bylaws, Certificate of Incorporation or of
                           any material contracts with third parties.

           (B)    Goldpac hereby represents and warrants to the Company that, as
                  of the date hereof:

                  (1)      Goldpac is a corporation duly organized, validly
                           existing and in good standing under the laws of the
                           British Virgin Islands. Goldpac has all necessary
                           corporate power and authority to own its assets and
                           to carry on its business as now being conducted and
                           presently proposed to be conducted. Goldpac is duly
                           qualified to do business as a foreign corporation and
                           is in good standing in each jurisdiction in which its
                           ownership or leasing of assets, or the conduct of its
                           business, makes such qualification necessary, except
                           where the failure to be so qualified or in good
                           standing would not have a material adverse effect on
                           Goldpac.

                  (2)      Goldpac has all necessary corporate power and
                           authority to execute, deliver and carry out the terms
                           of this Agreement. All corporate action on the part
                           of Goldpac required for the lawful execution and
                           delivery of this Agreement has been taken. Upon
                           execution and delivery, this Agreement constitutes a
                           valid and binding obligation of Goldpac, enforceable
                           in accordance with its terms, except as enforcement
                           may be

                                       3
<PAGE>

                           limited by insolvency and similar laws affecting the
                           enforcement of creditors' rights generally and
                           equitable remedies, and except as the indemnity
                           provisions of Section 7 of this Agreement may be
                           limited by law.

                  (3)      Neither the execution and delivery of, nor the
                           consummation by Goldpac of any transaction or
                           execution of any instrument contemplated by, this
                           Agreement, has constituted or resulted in, or will
                           constitute or result in, a material default under or
                           breach or violation of any term or provision of
                           Goldpac's Bylaws, Certificate of Incorporation, other
                           constitutive documents, or material contracts with
                           third parties, or of the laws of the United States or
                           any jurisdiction thereof or of any non-U.S.,
                           jurisdiction or any rules or regulations thereunder.
                           Without limiting the generality of the foregoing,
                           Goldpac acknowledges and agrees that it is
                           responsible for compliance with all securities laws,
                           rules and regulations applicable to it or to the
                           Company or to the Company's securities by virtue of
                           the Financing, this Agreement or any agreement with
                           Permitted Investors entered into pursuant to or in
                           connection with this Agreement and Goldpac's
                           activities pursuant hereto and to the Engagement,
                           such rules and regulations to include, without
                           limitation any registration requirements applicable
                           to brokers, dealers, finders, issuer's agents or
                           others acting in a similar capacity.

7. INDEMNIFICATION AND CONTRIBUTION

           (A)    The Company will indemnify Goldpac and its officers,
                  directors, employees, authorized agents and representatives
                  (collectively, "Goldpac Representatives") against all claims,
                  damages, liability and litigation expenses (including
                  Goldpac's reasonable attorney fees and expenses) arising out
                  of the Company's activities hereunder, except as provided in
                  Section 7(B) below and to the extent that any claims, damages,
                  liability or expenses are found in a final judgment by a court
                  of competent jurisdiction to have resulted from Goldpac's
                  misconduct or negligence in performing the services described
                  above. The indemnity provisions contained in this Section 7(A)
                  will remain in full force and effect regardless of any
                  termination of this Agreement or the Engagement.

           (B)    Goldpac will indemnify the Company and its officers,
                  directors, employees, authorized agents and representatives
                  (collectively, "Company Representatives") against all claims,
                  damages, liability rind litigation expenses (including the
                  Company's reasonable attorney fees and expenses) arising out
                  of Goldpac's activities hereunder including, without
                  limitation, (i) any untrue statement or alleged untrue
                  statement of a material fact, made either orally or in writing
                  or any omission or alleged omission to state a material fact
                  by Goldpac or any Goldpac Representative in connection with
                  this Agreement or the Engagement, (ii) the failure of Goldpac
                  to comply with any laws of any jurisdiction applicable to it
                  by virtue of its activities pursuant this Agreement or the
                  Engagement or otherwise as contemplated by Section 6(B)(3)
                  hereof, or (iii) any violation of any securities laws, rules
                  and regulations applicable to Goldpac, to the Company or to
                  the Company's securities by virtue of this Agreement or any
                  agreement with any Permitted Investor entered into pursuant to
                  or in connection with this Agreement. The indemnity provisions
                  contained in this Section 7(B) will remain in full force and
                  effect regardless of any termination of this Agreement or the
                  Engagement.

           (C)    If for any reason the foregoing indemnity is unavailable to
                  Goldpac and the Goldpac Representatives on the one hand, or to
                  the Company and the Company Representatives on the other
                  (each, an "Indemnified Person") or is insufficient to hold the
                  Indemnified Person

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<PAGE>

                  harmless, then the party required to provide indemnification
                  hereunder (the "Indemnifying Person") shall contribute to the
                  amount paid or payable to the Indemnified Person as a result
                  of such claims, liability, loss or damage in such proportion
                  as is appropriate to reflect not only the relative benefits
                  received by the Indemnifying Person on the one hand and the
                  Indemnified Person on the other, but also the relative fault
                  of the Indemnifying Person on the one hand, and Indemnified
                  Person on the other, that result in such losses, claims,
                  damages or liability, as well as any relevant suitable
                  considerations. The contribution provisions contained in this
                  Section shall remain in full force and effect regardless of
                  the termination of this Agreement or the Engagement.

8. CONFIDENTIALITY

        All information and documents received by Goldpac or Goldpac
Representatives shall be used by Goldpac solely for the purposes described in
this Agreement and in furtherance of the Engagement shall be held in the
strictest confidence, except for such information and documents that are
available to the general public through no act or omission of Goldpac or the
Goldpac Representatives or are required to be disclosed by applicable law. With
respect to disclosures required by law, prior to making any such disclosure
Goldpac will provide the Company with a written opinion of Goldpac's counsel to
the effect that such disclosure is required and will use its best efforts to
provide the Company with sufficient time to seek a protective order or otherwise
preserve the confidentiality of the subject information. In all events, Goldpac
shall disclose only such information as its counsel advises it, in a written
opinion, is legally required to be disclosed. If the Engagement is terminated,
Goldpac, upon written request of the Company, shall return to the Company all
documents concerning the Company received by Goldpac or the Goldpac
Representatives or developed or created by Goldpac or the Goldpac
Representatives on the basis of or containing information obtained from the
Company, except for documents that are or solely contain information then
available to the general public through no act of Goldpac or the Goldpac
Representatives.

9. GENERAL

           (A)    This Agreement shall be governed by the laws of the State of
                  Maryland governing contracts made and to be performed in such
                  state without giving effect to the principles of conflicts of
                  law.

           (B)    This Agreement shall be assignable by either party only upon
                  the prior written consent of the other party, provided,
                  however, that any such assignment (including, without
                  limitation, any assignment of any of the Warrants issuable
                  pursuant to Section 3(B) hereof) shall comply in all respects
                  with applicable US and other securities laws. Subject to the
                  foregoing, this Agreement shall be binding upon, and shall
                  inure to the benefit of, the parties hereto and their
                  respective representatives and permitted successors and
                  assignees.

           (C)    In the event that any one or more of the provisions contained
                  in this Agreement, or the application thereof to any person(s)
                  or under any circumstance(s), shall, for any reason, be found
                  by a regulatory body or court of competent jurisdiction to be
                  invalid, illegal or unenforceable, such regulatory body or
                  court shall have the power, and hereby is directed, to
                  substitute for or limit such provision(s) in order as closely
                  as possible to effectuate the original intent of the parties
                  with respect to such invalid, illegal or unenforceable
                  provision(s) and this Agreement generally and to so enforce
                  such substituted provision(s). Subject to the foregoing, the
                  invalidity, illegality or unenforceability of any one or more
                  of the provisions contained herein shall not affect the
                  validity of any other provision of this Agreement.

           (D)    This Agreement represents the entire understanding of the
                  parties pertaining to the subject matter hereof and supersedes
                  any and all prior agreements, understandings, negotiations and

                                       5
<PAGE>

                  discussions, whether written or oral, between the parties with
                  respect to such subject matter.

           (E)    No amendment, supplement, modification, waiver, termination,
                  rescission, discharge or cancellation of this Agreement or any
                  provision hereof shall be binding unless in writing and
                  executed by each of the parties hereto. No waiver of any
                  provision hereof or any default hereunder shall be deemed to
                  be, or shall constitute, a waiver of any other such provision
                  or default (whether or not similar) and no such. waiver shall
                  constitute a continuing waiver unless expressly so provided.

           (F)    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.

           (G)    Notices or other communications required or contemplated
                  hereby or in connection herewith shall be deemed adequately
                  given if in writing and delivered in person or by recognized
                  international courier for first possible delivery or facsimile
                  transmission (in the case of courier, notice to be deemed
                  received on the date following the date of delivery contracted
                  for and in the case of facsimile transmission on the date
                  following confirmation of successful transmission) or mailed
                  by certified mail, postage prepaid and return receipt
                  requested (such notice to be deemed received on the earlier of
                  the date of actual receipt or the fifth (5th) business day
                  following dispatch) as follows:

                      CELSION CORPORATION

                      Celsion Corporation
                      102201 Old Columbia Road
                      Columbia, MD USA 21046
                      Attention: Chief Financial Officer
                      Facsimile No.  (410) 290-5394

                      GOLDPAC:

                      Goldpac Investment Partners Ltd.
                      Yaminj Building Market Sq.
                      Road Town Tortola
                      British Virgin Island
                      Attention: Mr. Joseph Tai
                      Facsimile No. 604 484 3225

                  or any other addresses of which either party shall notify the
                  other party in writing in accordance with the terms hereof.

           (H)    As the context requires, any term used herein in the singular
                  shall extend to and include the plural, any term used in the
                  plural shall extend to and include the singular and any term
                  used in either gender or the neuter shall extend to and
                  include each gender or be neutral.

           (I)    This Agreement may be executed in counterparts, each of which
                  when so executed and delivered shall constitute an original,
                  but all of such counterparts taken together shall constitute
                  one and the same instrument.

                                       6
<PAGE>

        We very much look forward to being of service to you and should be
grateful if you could signify your agreement and acceptance of the above terms
of Engagement by signing and returning the enclosed copy of this letter to us.
Should you have any queries or require any further explanation, please do not
hesitate to contact the undersigned at 604-483-8878.

                                                 Agreed and accepted by:
For and on behalf of                             For and on behalf of
Goldpac Investment Partners Ltd.                 Celsion Corporation

/s/Joe Tai                                       /s/Augustine Y. Cheung
-----------------------------                    -------------------------------
Signature                                        Signature

Joe Tai                                          Augustine Y. Cheung
-----------------------------                    -------------------------------
Print Name                                       Print Name

Managing Director                                President & CEO
-----------------------------                    -------------------------------
Title                                            Title

                                       7EXHIBIT 4.5

                        GOLDPAC INVESTMENT PARTNERS LTD.

October 1, 2003

Celsion Corporation
10220-L Old Columbia Road
Columbia MD USA 21046

Attention:     Dr. Augustine Y.  Cheung
               President and Chief Executive Officer

         RE:   CELSION CORPORATION--INTRODUCTION OF
               STRATEGIC CANADIAN AND HONG KONG INVESTORS
               ------------------------------------------

Dear Sir:

 We refer to the various discussions with you recently and propose to act as an
advisor to Celsion Corporation (the "COMPANY") in respect of the introduction of
strategic investors in Canada and Hong Kong (the "ENGAGEMENT") on the terms and
conditions set forth in this letter agreement (this "AGREEMENT").

1. BACKGROUND INFORMATION

        Based on our various discussions, we understand the following:

           (A)    The Company is a research and development company dedicated to
                  commercializing medical treatment systems, for cancer and
                  other diseases using focused heat technology delivered by
                  patented microwave technology,

           (B)    The Company currently is seeking up to US $8,000,000 through a
                  private placements abroad to fund its further development and
                  the commercialization of certain of its products
                  (collectively, the "FINANCING").

2. SCOPE OF SERVICES

        Goldpac Investment Partners Ltd., a British Virgin Islands corporation
("GOLDPAC") shall act as an advisor to the Company with respect to potential
participation in the Financing by one or more investors in Canada and/or Hong
Kong. In its role as advisor, Goldpac will, at the request and subject to the
control of the Company, identify, on a "best efforts" basis, investors who are
residents of Canada and/or Hong Kong (or otherwise are non-resident aliens in
the United States) willing to make an aggregate investment of up to US $8.0
million pursuant to the Financing and facilitate meetings between such potential
investors and Company representatives. In addition, to the extent that the
Company deems necessary and appropriate and
<PAGE>

so directs Goldpac, Goldpac will arrange road shows in Hong Kong and/or Canada
for such potential investors. All activities of Goldpac will be conducted
outside of the United States and all investors identified or contacted by
Goldpac will be either individuals who are neither U.S. citizens, nor resident
aliens of the U.S. or who are foreign (non-U.S.) corporations or other entities
not engaged in any U.S. trade or business ("PERMITTED INVESTORS"). Anything to
the contrary contained herein notwithstanding, Celsion shall have the right, in
its sole and absolute discretion, to reject any proposed investment from any
Permitted Investor for any reason or for no reason.

3. FEE STRUCTURE

        As compensation for its services hereunder, Celsion shall compensate
Goldpac as follows:

           (A)    The Company shall pay to Goldpac a Success Fee, in U.S.
                  dollars, in an amount equal to seven and one half percent (8%)
                  of the purchase price of any securities of Celsion purchased
                  by Permitted Investors introduced to the Company by Goldpac.

           (B)    The Company will grant to Goldpac common stock purchase
                  warrants ("WARRANTS"), exercisable for a period of five (5)
                  years from the date of the final closing of the Financing, at
                  an exercise price equal to the price per common share paid by
                  the Permitted Investors. Goldpac shall be entitled to receive
                  Warrants to purchase eight (8) shares of the Company's Common
                  Stock, par value $0.01 per share, for each 100 shares acquired
                  in the Financing by each Permitted Investor introduced to the
                  Company by Goldpac pursuant hereto. Additionally, Goldpac
                  shall be entitled to receive Warrants to purchase eight (8)
                  shares of the Company's Common Stock, par value $0.01 per
                  share, for each warrant to purchase 100 shares acquired by
                  each Permitted Investor introduced to the Company by Goldpac
                  pursuant hereto.

4. TERM AND TERMINATION OF ENGAGEMENT

           (A)    Subject to Section 4(B) below, the Engagement will be for a
                  period of six (6) months commencing with the date of this
                  Agreement and will be subject to extension or renewal upon
                  mutual agreement by the parties.

           (B)    The Engagement may be terminated by the Company or by Goldpac
                  at any time, for any reason, upon written notice to that
                  effect to Goldpac or the Company, as the case may be;
                  provided, however, that Sections 3(A), 3(B), 7, 8 and 9 under
                  this Agreement shall survive any such termination and shall
                  remain in full force and effect.

5. RESPONSIBILITIES OF THE COMPANY

        In agreeing to the terms of this letter, the Company undertakes to:

           (A)    Bear and pay all of its own professional fees and
                  out-of-pocket expenses, such as the fees of legal and other
                  financial advisors and the expenses such as printing,
                  translation, photocopying and issuance of press releases, if
                  any;

           (B)    Provide Goldpac with, and allow Goldpac to disclose to
                  potential Permitted Investors, the same information that the
                  Company makes available to Sterling, including, without
                  limitation, such number of copies of the Private Placement
                  Package prepared in connection with the Financing as Goldpac
                  reasonably may request; and

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<PAGE>

           (C)    Accept full responsibility for the accuracy of all information
                  and facts provided by the Company to Goldpac pursuant to
                  clause (B) above, and promptly notify Goldpac of any of any
                  material events or developments relating to the Company's
                  financial condition, business operation or prospects that have
                  not been previously disclosed to Goldpac.

6. REPRESENTATIONS AND WARRANTIES

           (A)    The Company hereby represents and warrants to Goldpac that, as
                  of the date hereof:

                  (1)      The Company is a corporation duly organized, validly
                           existing and in good standing under the laws of the
                           State of Delaware. The Company has all necessary
                           corporate power and authority to own its assets and
                           to carry on its business as now being conducted and
                           presently proposed to be conducted. The Company is
                           duly qualified to do business as a foreign
                           corporation and is in good standing in each
                           jurisdiction in which its ownership or leasing of
                           assets, or the conduct of its business, makes such
                           qualification necessary, except where the failure to
                           be so qualified or in good standing would not have a
                           material adverse effect on the Company.

                  (2)      The Company has all necessary corporate power and
                           authority to execute, deliver and carry out the terms
                           of this Agreement. All corporate action on the part
                           of the Company required for the lawful execution and
                           delivery of this Agreement has been taken. Upon
                           execution and delivery, this Agreement constitutes a
                           valid and binding obligation of the Company,
                           enforceable in accordance with its terms, except as
                           enforcement may be limited by insolvency and similar
                           laws affecting the enforcement of creditors' rights
                           generally and equitable; remedies, and except as the
                           indemnity Provisions or Section 7 this Agreement may
                           be limited by law.

                  (3)      Neither the execution and delivery of, nor the
                           consummation by the Company of any transaction or
                           execution of any instrument contemplated by, this
                           Agreement has constituted or resulted in, or will
                           constitute or result in, a material default under or
                           breach or violation of any term or provision of the
                           Company's Bylaws, Certificate of Incorporation or of
                           any material contracts with third parties.

           (B)    Goldpac hereby represents and warrants to the Company that, as
                  of the date hereof:

                  (1)      Goldpac is a corporation duly organized, validly
                           existing and in good standing under the laws of the
                           British Virgin Islands. Goldpac has all necessary
                           corporate power and authority to own its assets and
                           to carry on its business as now being conducted and
                           presently proposed to be conducted. Goldpac is duly
                           qualified to do business as a foreign corporation and
                           is in good standing in each jurisdiction in which its
                           ownership or leasing of assets, or the conduct of its
                           business, makes such qualification necessary, except
                           where the failure to be so qualified or in good
                           standing would not have a material adverse effect on
                           Goldpac.

                  (2)      Goldpac has all necessary corporate power and
                           authority to execute, deliver and carry out the terms
                           of this Agreement. All corporate action on the part
                           of Goldpac required for the lawful execution and
                           delivery of this Agreement has been taken. Upon
                           execution and delivery, this Agreement constitutes a
                           valid and binding obligation of Goldpac, enforceable
                           in accordance with its terms, except as enforcement
                           may be limited by insolvency and similar laws
                           affecting the enforcement of creditors' rights
                           generally and equitable remedies, and except as the
                           indemnity provisions of Section 7

                                       3
<PAGE>

                           of this Agreement may be limited by law.

                  (3)      Neither the execution and delivery of, nor the
                           consummation by Goldpac of any transaction or
                           execution of any instrument contemplated by, this
                           Agreement, has constituted or resulted in, or will
                           constitute or result in, a material default under or
                           breach or violation of any term or provision of
                           Goldpac's Bylaws, Certificate of Incorporation, other
                           constitutive documents, or material contracts with
                           third parties, or of the laws of the United States or
                           any jurisdiction thereof or of any non-U.S.,
                           jurisdiction or any rules or regulations thereunder.
                           Without limiting the generality of the foregoing,
                           Goldpac acknowledges and agrees that it is
                           responsible for compliance with all securities laws,
                           rules and regulations applicable to it or to the
                           Company or to the Company's securities by virtue of
                           the Financing, this Agreement or any agreement with
                           Permitted Investors entered into pursuant to or in
                           connection with this Agreement and Goldpac's
                           activities pursuant hereto and to the Engagement,
                           such rules and regulations to include, without
                           limitation any registration requirements applicable
                           to brokers, dealers, finders, issuer's agents or
                           others acting in a similar capacity.

7. INDEMNIFICATION AND CONTRIBUTION

           (A)    The Company will indemnify Goldpac and its officers,
                  directors, employees, authorized agents and representatives
                  (collectively, "Goldpac Representatives") against all claims,
                  damages, liability and litigation expenses (including
                  Goldpac's reasonable attorney fees and expenses) arising out
                  of the Company's activities hereunder, except as provided in
                  Section 7(B) below and to the extent that any claims, damages,
                  liability or expenses are found in a final judgment by a court
                  of competent jurisdiction to have resulted from Goldpac's
                  misconduct or negligence in performing the services described
                  above. The indemnity provisions contained in this Section 7(A)
                  will remain in full force and effect regardless of any
                  termination of this Agreement or the Engagement.

           (B)    Goldpac will indemnify the Company and its officers,
                  directors, employees, authorized agents and representatives
                  (collectively, "Company Representatives") against all claims,
                  damages, liability rind litigation expenses (including the
                  Company's reasonable attorney fees and expenses) arising out
                  of Goldpac's activities hereunder including, without
                  limitation, (i) any untrue statement or alleged untrue
                  statement of a material fact, made either orally or in writing
                  or any omission or alleged omission to state a material fact
                  by Goldpac or any Goldpac Representative in connection with
                  this Agreement or the Engagement, (ii) the failure of Goldpac
                  to comply with any laws of any jurisdiction applicable to it
                  by virtue of its activities pursuant this Agreement or the
                  Engagement or otherwise as contemplated by Section 6(B)(3)
                  hereof, or (iii) any violation of any securities laws, rules
                  and regulations applicable to Goldpac, to the Company or to
                  the Company's securities by virtue of this Agreement or any
                  agreement with any Permitted Investor entered into pursuant to
                  or in connection with this Agreement. The indemnity provisions
                  contained in this Section 7(B) will remain in full force and
                  effect regardless of any termination of this Agreement or the
                  Engagement.

           (C)    If for any reason the foregoing indemnity is unavailable to
                  Goldpac and the Goldpac Representatives on the one hand, or to
                  the Company and the Company Representatives on the other
                  (each, an "Indemnified Person") or is insufficient to hold the
                  Indemnified Person harmless, then the party required to
                  provide indemnification hereunder (the "Indemnifying Person")
                  shall contribute to the amount paid or payable to the
                  Indemnified Person as a result

                                       4
<PAGE>

                  of such claims, liability, loss or damage in such proportion
                  as is appropriate to reflect not only the relative benefits
                  received by the Indemnifying Person on the one hand and the
                  Indemnified Person on the other, but also the relative fault
                  of the Indemnifying Person on the one hand, and Indemnified
                  Person on the other, that result in such losses, claims,
                  damages or liability, as well as any relevant suitable
                  considerations. The contribution provisions contained in this
                  Section shall remain in full force and effect regardless of
                  the termination of this Agreement or the Engagement.

8. CONFIDENTIALITY

        All information and documents received by Goldpac or Goldpac
Representatives shall be used by Goldpac solely for the purposes described in
this Agreement and in furtherance of the Engagement shall be held in the
strictest confidence, except for such information and documents that are
available to the general public through no act or omission of Goldpac or the
Goldpac Representatives or are required to be disclosed by applicable law. With
respect to disclosures required by law, prior to making any such disclosure
Goldpac will provide the Company with a written opinion of Goldpac's counsel to
the effect that such disclosure is required and will use its best efforts to
provide the Company with sufficient time to seek a protective order or otherwise
preserve the confidentiality of the subject information. In all events, Goldpac
shall disclose only such information as its counsel advises it, in a written
opinion, is legally required to be disclosed. If the Engagement is terminated,
Goldpac, upon written request of the Company, shall return to the Company all
documents concerning the Company received by Goldpac or the Goldpac
Representatives or developed or created by Goldpac or the Goldpac
Representatives on the basis of or containing information obtained from the
Company, except for documents that are or solely contain information then
available to the general public through no act of Goldpac or the Goldpac
Representatives.

9. GENERAL

           (A)    This Agreement shall be governed by the laws of the State of
                  Maryland governing contracts made and to be performed in such
                  state without giving effect to the principles of conflicts of
                  law.

           (B)    This Agreement shall be assignable by either party only upon
                  the prior written consent of the other party, provided,
                  however, that any such assignment (including, without
                  limitation, any assignment of any of the Warrants issuable
                  pursuant to Section 3(B) hereof) shall comply in all respects
                  with applicable US and other securities laws. Subject to the
                  foregoing, this Agreement shall be binding upon, and shall
                  inure to the benefit of, the parties hereto and their
                  respective representatives and permitted successors and
                  assignees.

           (C)    In the event that any one or more of the provisions contained
                  in this Agreement, or the application thereof to any person(s)
                  or under any circumstance(s), shall, for any reason, be found
                  by a regulatory body or court of competent jurisdiction to be
                  invalid, illegal or unenforceable, such regulatory body or
                  court shall have the power, and hereby is directed, to
                  substitute for or limit such provision(s) in order as closely
                  as possible to effectuate the original intent of the parties
                  with respect to such invalid, illegal or unenforceable
                  provision(s) and this Agreement generally and to so enforce
                  such substituted provision(s). Subject to the foregoing, the
                  invalidity, illegality or unenforceability of any one or more
                  of the provisions contained herein shall not affect the
                  validity of any other provision of this Agreement.

           (D)    This Agreement represents the entire understanding of the
                  parties pertaining to the subject matter hereof and supersedes
                  any and all prior agreements, understandings, negotiations and
                  discussions, whether written or oral, between the parties with
                  respect to such subject matter.

                                       5
<PAGE>

           (E)    No amendment, supplement, modification, waiver, termination,
                  rescission, discharge or cancellation of this Agreement or any
                  provision hereof shall be binding unless in writing and
                  executed by each of the parties hereto. No waiver of any
                  provision hereof or any default hereunder shall be deemed to
                  be, or shall constitute, a waiver of any other such provision
                  or default (whether or not similar) and no such. waiver shall
                  constitute a continuing waiver unless expressly so provided.

           (F)    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.

           (G)    Notices or other communications required or contemplated
                  hereby or in connection herewith shall be deemed adequately
                  given if in writing and delivered in person or by recognized
                  international courier for first possible delivery or facsimile
                  transmission (in the case of courier, notice to be deemed
                  received on the date following the date of delivery contracted
                  for and in the case of facsimile transmission on the date
                  following confirmation of successful transmission) or mailed
                  by certified mail, postage prepaid and return receipt
                  requested (such notice to be deemed received on the earlier of
                  the date of actual receipt or the fifth (5th) business day
                  following dispatch) as follows:

                      CELSION CORPORATION

                      Celsion Corporation
                      10220-L Old Columbia Road
                      Columbia, MD USA 21046
                      Attention: Chief Financial Officer
                      Facsimile No.  (410) 290-5394

                      GOLDPAC:

                      Goldpac Investment Partners Ltd.
                      Yaminj Building Market Sq.
                      Road Town Tortola
                      British Virgin Island
                      Attention: Mr. Joseph Tai
                      Facsimile No. 604 484 3225

                  or any other addresses of which either party shall notify the
                  other party in writing in accordance with the terms hereof.

           (H)    As the context requires, any term used herein in the singular
                  shall extend to and include the plural, any term used in the
                  plural shall extend to and include the singular and any term
                  used in either gender or the neuter shall extend to and
                  include each gender or be neutral.

           (I)    This Agreement may be executed in counterparts, each of which
                  when so executed and delivered shall constitute an original,
                  but all of such counterparts taken together shall constitute
                  one and the same instrument.

        We very much look forward to being of service to you and should be
grateful if you could signify your agreement and acceptance of the above terms
of Engagement by signing and returning the enclosed copy of

                                       6
<PAGE>

this letter to us. Should you have any queries or require any further
explanation, please do not hesitate to contact the undersigned at 604-483-8878.

                                                 Agreed and accepted by:
For and on behalf of                             For and on behalf of
Goldpac Investment Partners Ltd.                 Celsion Corporation

/s/Joe Tai                                       /s/Augustine Y. Cheung
-----------------------------                    -------------------------------
Signature                                        Signature

Joe Tai                                          Augustine Y. Cheung
-----------------------------                    -------------------------------
Print Name                                       Print Name

Managing Director                                President and CEO
-----------------------------                    -------------------------------
Title                                            Title

                                       7

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