Ann: Appendix 3B , page-8

PC must be a bit or very concerned about his CEO term expiring soon.

PC's CEO term is about to expire and the company'share price is dismal. So, The renewal of the CEO term is in danger becasue many shareholders are not satisfied with the company's performance in terms of return to shareholders.

BTA now has Lani ROW program with BARDA grant and HRV in Phase IIb. The chances for BTA achieving significant both clinical and commercial successes are very encouraging. So, there are big bonus waiting for those management persons who are in their positions when the those successes come true.


Now, PC is faced with leaving the company (possible relocation of BTA headquarter to the US is also one of the causes), and missing the prospect of getting big bonus ahead.


I think PC must be asking for big bonus for the BARDA grant if he is to leave the company, or he is trying hard to get his CEO term renewed.


Just my thoughts. no personal attack intended.