<SEC-DOCUMENT>0001193125-20-223735.txt : 20200818
<SEC-HEADER>0001193125-20-223735.hdr.sgml : 20200818
<ACCEPTANCE-DATETIME>20200818172529
ACCESSION NUMBER:		0001193125-20-223735
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20200818
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200818
DATE AS OF CHANGE:		20200818

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DELCATH SYSTEMS, INC.
		CENTRAL INDEX KEY:			0000872912
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				061245881
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16133
		FILM NUMBER:		201114644

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		SUITE 22C
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 489-2100

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		STREET 2:		SUITE 22C
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELCATH SYSTEMS INC
		DATE OF NAME CHANGE:	19990607
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d12408d8k.htm
<DESCRIPTION>8-K
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<TITLE>8-K</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, DC 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): August&nbsp;18, 2020 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>DELCATH SYSTEMS, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified in Its Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>001-16133</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">06-1245881</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>incorporation or organization)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>1633 Broadway, Suite 22C, New York, New York 10019 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) (Zip Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(212) <FONT STYLE="white-space:nowrap">489-2100</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name or former address, if changed since last report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17
CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Securities registered pursuant to Section&nbsp;12(b) of the Act: </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Title of each class</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Trading symbol(s)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Name of each exchange on which
registered</B></P></TD></TR>


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<TD VALIGN="top" ALIGN="center"><B>Common Stock, $.01 par value</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>DCTH</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>The NASDAQ Capital Market</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of
1933 (17 CFR &#167;230.405) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 (17 CFR <FONT STYLE="white-space:nowrap">&#167;240.12b-2).</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange
Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Entry into a Material Definitive Agreement. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On August&nbsp;18, 2020, Delcath Systems, Inc. (the &#147;<U>Company</U>&#148;) entered into a Controlled Equity Offering<SUP
STYLE="font-size:85%; vertical-align:top">SM</SUP> Sales Agreement (the &#147;<U>Sales Agreement</U>&#148;) with Cantor Fitzgerald&nbsp;&amp; Co. (&#147;<U>Cantor Fitzgerald</U>&#148;), pursuant to which the Company may offer and sell, from time to
time, through Cantor Fitzgerald, as sales agent or principal, shares of the Company&#146;s common stock, par value $0.01 per share (the &#147;<U>Placement Shares</U>&#148;), having an aggregate offering price of up to $10.0&nbsp;million (the
&#147;<U>ATM Offering</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company has no obligation to sell any Placement Shares under the Sales Agreement. Subject to the terms and
conditions of the Sales Agreement, Cantor Fitzgerald will use commercially reasonable efforts, consistent with its normal trading and sales practices, applicable state and federal law, rules and regulations and the rules of the Nasdaq Stock Market,
to sell Placement Shares from time to time based upon the Company&#146;s instructions, including any price, time or size limits specified by the Company. Under the Sales Agreement, Cantor Fitzgerald may sell Placement Shares by any method deemed to
be an &#147;at the market offering&#148; as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended. The Company will pay Cantor Fitzgerald a commission of 3.0% of the aggregate gross proceeds from each sale of Placement Shares,
reimburse Cantor Fitzgerald&#146;s legal fees and disbursements up to $50,000 and provide Cantor Fitzgerald with customary indemnification and contribution rights. The Sales Agreement may be terminated by Cantor Fitzgerald or the Company upon notice
to the other party as provided in the Sales Agreement, or by Cantor Fitzgerald at any time in certain circumstances, including the occurrence of a material and adverse change in the Company&#146;s business or financial condition that makes it
impractical or inadvisable to market the Placement Shares or to enforce contracts for the sale of the Placement Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The issuance and sale, if any, of
the Placement Shares by the Company under the Sales Agreement will be made pursuant to the Company&#146;s effective &#147;shelf&#148; registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (Registration Statement <FONT
STYLE="white-space:nowrap">No.&nbsp;333-227970)</FONT> (the &#147;<U>Registration Statement</U>&#148;), the base prospectus contained therein, dated December&nbsp;21, 2018, and a prospectus supplement relating to the ATM offering, dated August 18,
2020. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sales Agreement is attached to this Current Report on <FONT STYLE="white-space:nowrap">Form&nbsp;8-K&nbsp;as</FONT> Exhibit 1.1 and is
incorporated herein by reference. The foregoing description of the material terms of the Sales Agreement does not purport to be complete and is qualified in its entirety by reference to the exhibit attached hereto.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A copy of the opinion of McCarter&nbsp;&amp; English, LLP, relating to the legality of the Placement Shares, is filed as Exhibit 5.1 to this Current Report on
Form <FONT STYLE="white-space:nowrap">8-K</FONT> and is hereby incorporated by reference into the Registration Statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Current Report on Form <FONT
STYLE="white-space:nowrap">8-K</FONT> shall not constitute an offer to sell or the solicitation of any offer to buy the Placement Shares, nor shall there be any offer, solicitation or sale of the Placement Shares in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;8.01</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Other Information </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the ATM Offering described in Item 1.01 above, in consideration for a fee equal to 1.05% of the gross sales price per share sold in the ATM
Offering, ROTH Capital Advisors, LLC (&#147;Roth&#148;) waived, solely with respect to the ATM Offering, (i)&nbsp;Roth&#146;s right, pursuant to certain engagement letters dated August&nbsp;14, 2019 and January&nbsp;13, 2020 between Roth and the
Company, to act as placement agent or underwriter with respect to offerings of the Company&#146;s securities and to receive a minimum of 35% of the fees paid to the agents or underwriters for such offerings and (ii)&nbsp;the <FONT
STYLE="white-space:nowrap">lock-up</FONT> provision included in a certain Underwriting Agreement dated May&nbsp;1, 2020 between Roth and the Company requiring the prior written consent of Roth for any offer or sale of the Company&#146;s common stock
by the Company during the <FONT STYLE="white-space:nowrap">90-day</FONT> period following the date of the Underwriting Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the
ATM Offering described in Item 1.01 above, Rosalind Master Fund L.P. and Rosalind Opportunities Fund I L.P. (together, &#147;Rosalind&#148;) waived, solely with respect to the ATM Offering, Rosalind&#146;s right, pursuant to that certain Support and
Conversion Agreement dated March&nbsp;11, 2020 between Rosalind and the Company, as amended, to participate in any offer or sale of the Company&#146;s common stock by the Company occurring within a <FONT STYLE="white-space:nowrap">two-year</FONT>
period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A copy of the waivers by Roth and Rosalind are attached to this report as Exhibits 99.1 and 99.2, respectively, and are incorporated by reference
herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On August 18, 2020, the Company and the holders of a requisite number of shares of the Company&#146;s Series E Convertible Preferred Stock and
Series <FONT STYLE="white-space:nowrap">E-1</FONT> Convertible Preferred Stock and related warrants (the &#147;Holders&#148;) entered into an Amendment to those certain Securities Purchase Agreements, dated July&nbsp;11, 2020 and August&nbsp;15,
2019, among the Company and the parties signatory thereto, for the purpose of clarifying that offerings of the Company&#146;s common stock in &#147;at the market&#148; transactions are excluded from the rights of the holders set forth therein. A
copy of the Amendment to the Securities Purchase Agreement is attached hereto as Exhibit 99.3 and is incorporated by reference herein. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Financial Statements and Exhibits </B></P></TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Exhibits. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;1.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d12408dex11.htm">Controlled Equity Offering<SUP STYLE="font-size:85%; vertical-align:top">SM</SUP>&nbsp;Sales Agreement, dated August 18, 2020, by and between the Company and Cantor Fitzgerald&nbsp;&amp; Co. </A></TD></TR>
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<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;5.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d12408dex51.htm">Opinion of McCarter&nbsp;&amp; English, LLP </A></TD></TR>
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<TD VALIGN="top" NOWRAP>23.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d12408dex51.htm">Consent of McCarter&nbsp;&amp; English (included in Exhibit 5.1) </A></TD></TR>
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<TD VALIGN="top" NOWRAP>23.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d12408dex232.htm">Consent of Marcum LLP </A></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d12408dex991.htm">Limited Waiver, dated July&nbsp;17, 2020, between the Company and ROTH Capital Partners, LLC. </A></TD></TR>
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<TD VALIGN="top" NOWRAP>99.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d12408dex992.htm">Limited Waiver, dated July&nbsp;10, 2020, among the Company, Rosalind Master Fund L.P. and Rosalind Opportunities Fund I L.P. </A></TD></TR>
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<TD VALIGN="top" NOWRAP>99.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d12408dex993.htm">Amendment to Securities Purchase Agreements, dated as of August 18, 2020, among the Company and the other parties thereto. </A></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by
the undersigned thereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">DELCATH SYSTEMS, INC.</TD></TR>
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<TD VALIGN="top">Date: August&nbsp;18, 2020</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ John Purpura</P></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">John Purpura</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Interim Chief Executive Officer</TD></TR>
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<TYPE>EX-1.1
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<FILENAME>d12408dex11.htm
<DESCRIPTION>EX-1.1
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 1.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DELCATH SYSTEMS, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Shares of Common Stock </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(par value
$0.01 per share) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Controlled Equity Offering<SUP STYLE="font-size:85%; vertical-align:top">SM</SUP> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Sales Agreement </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">August 18, 2020 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Cantor Fitzgerald&nbsp;&amp; Co.
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">499 Park Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, NY 10022 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Delcath Systems, Inc., a
Delaware corporation (the &#147;<B><U>Company</U></B>&#148;), confirms its agreement (this &#147;<B><U>Agreement</U></B>&#148;) with Cantor Fitzgerald&nbsp;&amp; Co. (the &#147;<B><U>Agent</U></B>&#148;), as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Issuance and Sale of Shares</U>. The Company agrees that, from time to time during the term of this Agreement, on the terms and subject
to the conditions set forth herein, it may issue and sell through the Agent, shares of common stock (the &#147;<B><U>Placement Shares</U></B>&#148;) of the Company, par value $0.01 per share (the &#147;<B><U>Common Stock</U></B>&#148;);
<I>provided</I>, <I>however</I>, that in no event shall the Company issue or sell through the Agent such number or dollar amount of Placement Shares that would (a)&nbsp;exceed the number or dollar amount of shares of Common Stock registered on the
effective Registration Statement (defined below) pursuant to which the offering is being made, (b)&nbsp;exceed the number of authorized but unissued shares of Common Stock (less shares of Common Stock issuable upon exercise, conversion or exchange
of any outstanding securities of the Company or otherwise reserved from the Company&#146;s authorized capital stock), (c) exceed the number or dollar amount of shares of Common Stock permitted to be sold under Form
<FONT STYLE="white-space:nowrap">S-3</FONT> (including General Instruction I.B.6 thereof, if applicable) or (d)&nbsp;exceed the number or dollar amount of shares of Common Stock for which the Company has filed a Prospectus Supplement (defined below)
(the lesser of (a), (b), (c) and (d), the &#147;<B><U>Maximum Amount</U></B>&#148;). Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this
<U>Section</U><U></U><U>&nbsp;1</U> on the amount of Placement Shares issued and sold under this Agreement shall be the sole responsibility of the Company and that the Agent shall have no obligation in connection with such compliance. The offer and
sale of Placement Shares through the Agent will be effected pursuant to the Registration Statement (as defined below) filed by the Company and declared effective by the Securities and Exchange Commission (the &#147;<B><U>Commission</U></B>&#148;) on
December&nbsp;21, 2018, although nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement to issue Common Stock. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has filed, in accordance with the provisions of the Securities Act of 1933, as
amended (the &#147;<B><U>Securities Act</U></B>&#148;) and the rules and regulations thereunder (the &#147;<B><U>Securities Act Regulations</U></B>&#148;), with the Commission a registration statement on Form
<FONT STYLE="white-space:nowrap">S-3</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-227970),</FONT> including a base prospectus, relating to certain securities, including the Placement Shares to be issued from time to time by the
Company, and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended (the &#147;<B><U>Exchange Act</U></B>&#148;), and the rules and
regulations thereunder. The Company has prepared a prospectus or a prospectus supplement to the base prospectus included as part of the registration statement, which prospectus or prospectus supplement relates to the Placement Shares to be issued
from time to time by the Company (the &#147;<B><U>Prospectus Supplement</U></B>&#148;). The Company will furnish to the Agent, for use by the Agent, copies of the prospectus included as part of such registration statement, as supplemented by the
Prospectus Supplement, relating to the Placement Shares to be issued from time to time by the Company. The Company may file one or more additional registration statements from time to time that will contain a base prospectus and related prospectus
or prospectus supplement, if applicable (which shall be a Prospectus Supplement), with respect to the Placement Shares. Except where the context otherwise requires, such registration statement(s), including all documents filed as part thereof or
incorporated by reference therein, and including any information contained in a Prospectus (as defined below) subsequently filed with the Commission pursuant to Rule&nbsp;424(b) under the Securities Act Regulations or deemed to be a part of such
registration statement pursuant to Rule&nbsp;430B of the Securities Act Regulations, is herein called the &#147;<B><U>Registration Statement</U></B>.&#148; The base prospectus or base prospectuses, including all documents incorporated therein by
reference, included in the Registration Statement, as it may be supplemented, if necessary, by the Prospectus Supplement, in the form in which such prospectus or prospectuses and/or Prospectus Supplement have most recently been filed by the Company
with the Commission pursuant to Rule&nbsp;424(b) under the Securities Act Regulations, together with the then issued Issuer Free Writing Prospectus(es) (defined below), is herein called the &#147;<B><U>Prospectus</U></B>.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any reference herein to the Registration Statement, any Prospectus Supplement, Prospectus or any Issuer Free Writing Prospectus shall be
deemed to refer to and include the documents, if any, incorporated by reference therein (the &#147;<B><U>Incorporated Documents</U></B>&#148;), including, unless the context otherwise requires, the documents, if any, filed as exhibits to such
Incorporated Documents. Any reference herein to the terms &#147;amend,&#148; &#147;amendment&#148; or &#147;supplement&#148; with respect to the Registration Statement, any Prospectus Supplement, the Prospectus or any Issuer Free Writing Prospectus
shall be deemed to refer to and include the filing of any document under the Exchange Act on or after the most-recent effective date of the Registration Statement, or the date of the Prospectus Supplement, Prospectus or such Issuer Free Writing
Prospectus, as the case may be, and incorporated therein by reference. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement thereto shall be deemed to include the most recent
copy filed with the Commission pursuant to its Electronic Data Gathering Analysis and Retrieval system, or if applicable, the Interactive Data Electronic Application system when used by the Commission (collectively, &#147;<B><U>EDGAR</U></B>&#148;).
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-2- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Placements</U>. Each time that the Company wishes to issue and sell Placement Shares
hereunder (each, a &#147;<B><U>Placement</U></B>&#148;), it will notify the Agent by email notice (or other method mutually agreed to by the parties) of the number of Placement Shares to be issued, the time period during which sales are requested to
be made, any limitation on the number of Placement Shares that may be sold in any one day and any minimum price below which sales may not be made (a &#147;<B><U>Placement Notice</U></B>&#148;), the form of which is attached hereto as <U>Schedule
1</U>. The Placement Notice shall originate from any of the individuals from the Company set forth on <U>Schedule 3</U> (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the
individuals from the Agent set forth on <U>Schedule 3</U>, as such <U>Schedule 3</U> may be amended from time to time. The Placement Notice shall be effective unless and until (i)&nbsp;the Agent declines to accept the terms contained therein for any
reason, in its sole discretion, which declination must be given to the Company within two (2)&nbsp;Business Days (as defined below) of the Agent&#146;s receipt of the Placement Notice, (ii)&nbsp;the entire amount of the Placement Shares thereunder
have been sold, (iii)&nbsp;the Company suspends or terminates the Placement Notice or (iv)&nbsp;this Agreement has been terminated under the provisions of <U>Section</U><U></U><U>&nbsp;12</U>. The amount of any discount, commission or other
compensation to be paid by the Company to Agent in connection with the sale of the Placement Shares shall be calculated in accordance with the terms set forth in <U>Schedule 2</U>. It is expressly acknowledged and agreed that neither the Company nor
the Agent will have any obligation whatsoever with respect to a Placement or any Placement Shares unless and until the Company delivers a Placement Notice to the Agent and the Agent does not decline such Placement Notice pursuant to the terms set
forth above, and then only upon the terms specified therein and herein. In the event of a conflict between the terms of this Agreement and the terms of a Placement Notice, the terms of the Placement Notice will control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Sale of Placement Shares by the Agent</U>. Subject to the provisions of <U>Section</U><U></U><U>&nbsp;5(a)</U>, the Agent, for the
period specified in the Placement Notice, will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules of the Nasdaq Capital Market
(the &#147;<B><U>Exchange</U></B>&#148;), to sell the Placement Shares up to the amount specified, and otherwise in accordance with the terms of such Placement Notice. The Agent will provide written confirmation to the Company no later than the
opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement Shares hereunder setting forth the number of Placement Shares sold on such day, the compensation payable by the Company to
the Agent pursuant to <U>Section</U><U></U><U>&nbsp;2</U> with respect to such sales, and the Net Proceeds (as defined below) payable to the Company, with an itemization of the deductions made by the Agent (as set forth in
<U>Section</U><U></U><U>&nbsp;5(b)</U>) from the gross proceeds that it receives from such sales. Subject to the terms of the Placement Notice, the Agent may sell Placement Shares by any method permitted by law deemed to be an &#147;at the market
offering&#148; as defined in Rule&nbsp;415(a)(4) of the Securities Act Regulations, including sales made directly on or through the Exchange or any other existing trading market for the Common Stock, in negotiated transactions at market prices
prevailing at the time of sale or at prices related to such prevailing market prices and/or any other method permitted by law. &#147;<B><U>Trading Day</U></B>&#148; means any day on which Common Stock is traded on the Exchange. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-3- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <U>Suspension of Sales</U>. The Company or the Agent may, upon notice to the other party
in writing (including by email correspondence to each of the individuals of the other party set forth on <U>Schedule 3</U>, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other than
via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the individuals of the other party set forth on <U>Schedule 3</U>), suspend any sale of Placement Shares (a
&#147;<B><U>Suspension</U></B>&#148;); <I>provided</I>, <I>however</I>, that such Suspension shall not affect or impair any party&#146;s obligations with respect to any Placement Shares sold hereunder prior to the receipt of such notice. While a
Suspension is in effect any obligation under <U>Sections 7(l)</U>, <U>7(m)</U>, and <U>7(n)</U> with respect to the delivery of certificates, opinions, or comfort letters to the Agent, shall be waived. Each of the parties agrees that no such notice
under this <U>Section</U><U></U><U>&nbsp;4</U> shall be effective against any other party unless it is made to one of the individuals named on <U>Schedule 3</U> hereto, as such Schedule may be amended from time to time. Notwithstanding any other
provision of this Agreement, during any period in which the Company is in possession of material <FONT STYLE="white-space:nowrap">non-public</FONT> information, the Company and the Agent agree that (i)&nbsp;no sale of Placement Shares will take
place, (ii)&nbsp;the Company shall not request the sale of any Placement Shares, and (iii)&nbsp;the Agent shall not be obligated to sell or offer to sell any Placement Shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <U>Sale and Delivery to the Agent; Settlement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <U>Sale of Placement Shares</U><I>. </I>On the basis of the representations and warranties herein contained and subject to the terms and
conditions herein set forth, upon the Agent&#146;s acceptance of the terms of a Placement Notice, and unless the sale of the Placement Shares described therein has been declined, suspended, or otherwise terminated in accordance with the terms of
this Agreement, the Agent, for the period specified in the Placement Notice, will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable law and regulations to sell such Placement Shares up to
the amount specified, and otherwise in accordance with the terms of such Placement Notice. The Company acknowledges and agrees that (i)&nbsp;there can be no assurance that the Agent will be successful in selling Placement Shares, (ii)&nbsp;the Agent
will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Shares for any reason other than a failure by the Agent to use its commercially reasonable efforts consistent with its normal trading
and sales practices and applicable law and regulations to sell such Placement Shares as required under this Agreement and (iii)&nbsp;the Agent shall be under no obligation to purchase Placement Shares on a principal basis pursuant to this Agreement,
except as otherwise agreed by the Agent and the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) <U>Settlement of Placement Shares</U><I>. </I>Unless otherwise specified in
the applicable Placement Notice, settlement for sales of Placement Shares will occur on the second (2<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP>) Trading Day (or such earlier day as is industry practice for
<FONT STYLE="white-space:nowrap">regular-way</FONT> trading) following the date on which such sales are made (each, a &#147;<B><U>Settlement Date</U></B>&#148;). The Agent shall notify the Company of each sale of Placement Shares no later than the
opening of the Trading Day immediately following the Trading Day on which it has made sales of Placement Shares hereunder. The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of the Placement Shares sold (the
&#147;<B><U>Net Proceeds</U></B>&#148;) will be equal to the aggregate sales price received by the Agent, after deduction for (i)&nbsp;the Agent&#146;s commission, discount or other compensation for such sales payable by the Company pursuant to
<U>Section</U><U></U><U>&nbsp;2</U> hereof, and (ii)&nbsp;any transaction fees imposed by any Governmental Authority in respect of such sales. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) <I></I><U>Delivery of Placement Shares</U>. On or before each Settlement Date, the
Company will, or will cause its transfer agent to, electronically transfer the Placement Shares being sold by crediting the Agent&#146;s or its designee&#146;s account (provided the Agent shall have given the Company written notice of such designee
at least one Trading Day prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such other means of delivery as may be mutually agreed upon by the parties hereto which in all cases
shall be freely tradable, transferable, registered shares in good deliverable form. On each Settlement Date, the Agent will deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement
Date. The Company agrees that if the Company, or its transfer agent (if applicable), defaults in its obligation to deliver Placement Shares on a Settlement Date, the Company agrees that in addition to and in no way limiting the rights and
obligations set forth in <U>Section</U><U></U><U>&nbsp;10(a)</U> hereto, it will (i)&nbsp;hold the Agent harmless against any loss, claim, damage, or expense (including reasonable legal fees and expenses), as incurred, arising out of or in
connection with such default by the Company or its transfer agent (if applicable) and (ii)&nbsp;pay to the Agent any commission, discount, or other compensation to which it would otherwise have been entitled absent such default. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) <U>Denominations; Registration</U><I>. </I>Certificates for the Placement Shares, if any, shall be in such denominations and registered in
such names as the Agent may request in writing at least one full Business Day before the Settlement Date. The certificates for the Placement Shares, if any, will be made available by the Company for examination and packaging by the Agent in The City
of New York not later than&nbsp;noon (New York time) on the Business Day prior to the Settlement Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) <U>Limitations on Offering
Size</U><I>. </I>Under no circumstances shall the Company cause or request the offer or sale of any Placement Shares if, after giving effect to the sale of such Placement Shares, the aggregate gross sales proceeds of Placement Shares sold pursuant
to this Agreement would exceed the lesser of (A)&nbsp;together with all sales of Placement Shares under this Agreement, the Maximum Amount and (B)&nbsp;the amount authorized from time to time to be issued and sold under this Agreement by the
Company&#146;s board of directors, a duly authorized committee thereof or a duly authorized executive committee, and notified to the Agent in writing. Under no circumstances shall the Company cause or request the offer or sale of any Placement
Shares pursuant to this Agreement at a price lower than the minimum price authorized from time to time by the Company&#146;s board of directors, a duly authorized committee thereof or a duly authorized executive committee. Further, under no
circumstances shall the Company cause or permit the aggregate offering amount of Placement Shares sold pursuant to this Agreement to exceed the Maximum Amount. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <U>Representations and Warranties of the Company</U>. The Company represents and warrants to, and agrees with the Agent that as of the date
of this Agreement and as of each Applicable Time (as defined below): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <U>Registration Statement and Prospectus</U>. The Company and
the transactions contemplated by this Agreement meet the requirements for and comply with the applicable conditions set forth in Form <FONT STYLE="white-space:nowrap">S-3</FONT> (including General Instructions I.A and I.B) under the Securities Act.
The Registration Statement has been filed with the Commission and has been declared effective by the Commission under the Securities Act. The Prospectus Supplement will name the Agent as the agent in the section entitled &#147;Plan of
Distribution.&#148; The Company has not received, and has no notice of, any order of the Commission preventing or suspending the use of the Registration Statement, or threatening or instituting proceedings for that purpose. The Registration
Statement and the offer and sale of Placement Shares as contemplated hereby meet the requirements of Rule&nbsp;415 under the Securities Act and comply in all material respects with said Rule. Any statutes, regulations, contracts or other documents
that are required to be described in the Registration Statement or the Prospectus or to be filed as exhibits to the Registration Statement have been so described or filed. Copies of the Registration Statement, the Prospectus, and any such amendments
or supplements and all Incorporated Documents that were filed with the Commission on or prior to the date of this Agreement have been delivered, or are available through EDGAR, to Agent and its counsel. The Company has not distributed and, prior to
the later to occur of each Settlement Date and completion of the distribution of the Placement Shares, will not distribute any offering material in connection with the offering or sale of the Placement Shares other than the Registration Statement
and the Prospectus and any Issuer Free Writing Prospectus (as defined below) to which the Agent has consented, which consent shall not be unreasonably withheld, delayed or conditioned. The Common Stock is registered pursuant to Section&nbsp;12(b) of
the Exchange Act and is currently listed on the Exchange under the trading symbol &#147;DCTH.&#148; The Company has taken no action designed to, or likely to have the effect of, terminating the registration of the Common Stock under the Exchange
Act, delisting the Common Stock from the Exchange, nor has the Company received any notification that the Commission or the Exchange is contemplating terminating such registration or listing. To the Company&#146;s knowledge, it is in compliance with
all applicable listing requirements of the Exchange. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) <U>No Misstatement or Omission</U>. The Registration Statement, when it became or
becomes effective, and the Prospectus, and any amendment or supplement thereto, on the date of such Prospectus or amendment or supplement, conformed and will conform in all material respects with the requirements of the Securities Act. At each
Settlement Date, the Registration Statement and the Prospectus, as of such date, will conform in all material respects with the requirements of the Securities Act. The Registration Statement, when it became or becomes effective, did not, and will
not, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. The Prospectus and any amendment and supplement thereto, on the date
thereof and at each Applicable Time (defined below), did not or will not include an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were
made, not misleading. The Incorporated Documents did not, and any further Incorporated Documents filed after the date of this Agreement will not, when filed with the Commission, contain an untrue statement of a material fact or omit to state a
material fact required to be stated in such document or necessary to make the statements in such document, in light of the circumstances under which they were made, not misleading. The foregoing shall not apply to statements in, or omissions from,
any such document made in reliance upon, and in conformity with, information furnished to the Company by Agent specifically for use in the preparation thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) <U>Conformity with Securities Act and Exchange Act</U>. The Registration Statement, the Prospectus, any Issuer Free Writing Prospectus or
any amendment or supplement thereto, and the Incorporated Documents, when such documents were or are filed with the Commission under the Securities Act or the Exchange Act or became or become effective under the Securities Act, as the case may be,
conformed or will conform in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) <U>Financial Information</U>. The consolidated financial statements of the Company
included or incorporated by reference in the Registration Statement, the Prospectus and the Issuer Free Writing Prospectuses, if any, together with the related notes and schedules, present fairly, in all material respects, the consolidated financial
position of the Company and the Subsidiaries (as defined below) as of the dates indicated and the consolidated results of operations, cash flows and changes in stockholders&#146; equity of the Company for the periods specified and have been prepared
in compliance with the requirements of the Securities Act and Exchange Act and in conformity with GAAP (as defined below) applied on a consistent basis during the periods involved (except for such adjustments to accounting standards and practices as
are noted therein and except in the case of unaudited financial statements to the extent they may exclude footnotes or may be condensed or summary statements); the other financial and statistical data with respect to the Company and the Subsidiaries
(as defined below) contained or incorporated by reference in the Registration Statement, the Prospectus and the Issuer Free Writing Prospectuses, if any, are accurately and fairly presented in all material respects and prepared on a basis consistent
with the financial statements and books and records of the Company; there are no financial statements (historical or pro forma) that are required to be included or incorporated by reference in the Registration Statement, or the Prospectus that are
not included or incorporated by reference as required; the Company and the Subsidiaries (as defined below) do not have any material liabilities or obligations, direct or contingent (including any <FONT STYLE="white-space:nowrap">off-balance</FONT>
sheet obligations), not described in the Registration Statement (excluding the exhibits thereto) and the Prospectus; and all disclosures contained or incorporated by reference in the Registration Statement, the Prospectus and the Issuer Free Writing
Prospectuses, if any, regarding <FONT STYLE="white-space:nowrap">&#147;non-GAAP</FONT> financial measures&#148; (as such term is defined by the rules and regulations of the Commission) comply in all material respects with Regulation G of the
Exchange Act and Item 10 of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> under the Securities Act, to the extent applicable. The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the
Registration Statement and the Prospectus fairly presents the information called for in all material respects and has been prepared in accordance with the Commission&#146;s rules and guidelines applicable thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) <U>Conformity with EDGAR Filing</U>. The Prospectus delivered to the Agent for use in connection with the sale of the Placement Shares
pursuant to this Agreement will be identical to the versions of the Prospectus created to be transmitted to the Commission for filing via EDGAR, except to the extent permitted by Regulation <FONT STYLE="white-space:nowrap">S-T.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(f) <U>Organization</U>. The Company and each of its Subsidiaries are duly organized, validly existing as a corporation or other legal entity
and in good standing under the laws of their respective jurisdictions of organization. The Company and each of its Subsidiaries are duly licensed or qualified as a foreign corporation for transaction of business and in good standing under the laws
of each other jurisdiction in which their respective ownership or lease of property or the conduct of their respective businesses requires such license or qualification, and have all corporate power and authority necessary to own or hold their
respective properties and to conduct their respective businesses as described in the Registration Statement and the Prospectus, except where the failure to be so qualified or in good standing or have such power or authority would not, individually
or in the aggregate, have a material adverse effect or would reasonably be expected to have a material adverse effect on or affecting the assets, business, operations, earnings, properties, condition (financial or otherwise), prospects,
stockholders&#146; equity or results of operations of the Company and the Subsidiaries taken as a whole, or prevent or materially interfere with consummation of the transactions contemplated hereby (a &#147;<B><U>Material Adverse
Effect</U></B>&#148;). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(g) <U>Subsidiaries</U>. The subsidiaries set forth on <U>Schedule 4</U> (collectively, the
&#147;<B><U>Subsidiaries</U></B>&#148;), are the Company&#146;s only significant subsidiaries (as such term is defined in Rule <FONT STYLE="white-space:nowrap">1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> promulgated by the
Commission). Except as set forth in the Registration Statement and in the Prospectus, the Company owns, directly or indirectly, all of the equity interests of the Subsidiaries free and clear of any lien, charge, security interest, encumbrance, right
of first refusal or other restriction, and all the equity interests of the Subsidiaries are validly issued and are fully paid, nonassessable and free of preemptive and similar rights. No Subsidiary is currently prohibited, directly or indirectly,
from paying any dividends to the Company, from making any other distribution on such Subsidiary&#146;s capital stock, from repaying to the Company any loans or advances to such Subsidiary from the Company or from transferring any of such
Subsidiary&#146;s property or assets to the Company or any other Subsidiary of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(h) <U>No Violation or Default</U>. Neither
the Company nor any of its Subsidiaries is (i)&nbsp;in violation of its charter or <FONT STYLE="white-space:nowrap">by-laws</FONT> or similar organizational documents; (ii)&nbsp;in default, and no event has occurred that, with notice or lapse of
time or both, would constitute such a default, in the due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any
of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound or to which any of the property or assets of the Company or any of its Subsidiaries are subject; or (iii)&nbsp;in violation of any law or statute or any
judgment, order, rule or regulation of any Governmental Authority, except, in the case of each of clauses (ii)&nbsp;and (iii) above, for any such violation or default that would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. To the Company&#146;s knowledge, no other party under any material contract or other agreement to which it or any of its Subsidiaries is a party is in default in any respect thereunder where such default would have a
Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) <U>No Material Adverse Change</U>. Subsequent to the respective dates as of which information is given in
the Registration Statement, the Prospectus and the Free Writing Prospectuses, if any (including any Incorporated Document), there has not been (i)&nbsp;any Material Adverse Effect or the occurrence of any development that the Company reasonably
expects will result in a Material Adverse Effect, (ii)&nbsp;any transaction which is material to the Company and the Subsidiaries taken as a whole, other than as contemplated by this Agreement, (iii)&nbsp;any obligation or liability, direct or
contingent (including any <FONT STYLE="white-space:nowrap">off-balance</FONT> sheet obligations), incurred by the Company or any Subsidiary, which is material to the Company and the Subsidiaries taken as a whole, (iv)&nbsp;any material change in the
capital stock or outstanding long-term indebtedness of the Company or any of its Subsidiaries or (v)&nbsp;any dividend or distribution of any kind declared, paid or made on the capital stock of the Company or any Subsidiary, other than in each case
above in the ordinary course of business or as otherwise disclosed in the Registration Statement or Prospectus (including any Incorporated Document). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(j) <U>Capitalization</U>. The issued and outstanding shares of capital stock of the Company
have been validly issued, are fully paid and nonassessable and, other than as disclosed in the Registration Statement or the Prospectus, are not subject to any preemptive rights, rights of first refusal or similar rights. The Company has an
authorized, issued and outstanding capitalization as set forth in the Registration Statement and the Prospectus as of the dates referred to therein (other than the grant of additional options or other equity awards under the Company&#146;s equity
incentive plans, or changes in the number of outstanding shares of Common Stock of the Company due to the issuance of shares upon the exercise or conversion of securities exercisable for, or convertible into, Common Stock outstanding on the date
hereof) and such authorized capital stock conforms to the description thereof set forth in the Registration Statement and the Prospectus. The description of the securities of the Company in the Registration Statement and the Prospectus is complete
and accurate in all material respects. Except as disclosed in or contemplated by the Registration Statement or the Prospectus and except for equity awards pursuant to the Company&#146;s equity incentive plans, as of the date referred to therein, the
Company does not have outstanding any options to purchase, or any rights or warrants to subscribe for, or any securities or obligations convertible into, or exchangeable for, or any contracts or commitments to issue or sell, any shares of capital
stock or other securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(k) <U>Authorization; Enforceability</U>. The Company has full legal right, power and authority to enter into
this Agreement and perform the transactions contemplated hereby. This Agreement has been duly authorized, executed and delivered by the Company and is a legal, valid and binding agreement of the Company enforceable in accordance with its terms,
except to the extent that enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors&#146; rights generally and by general equitable principles. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(l) <U>Authorization of Placement Shares</U>. The Placement Shares, when issued and delivered pursuant to the terms approved by the board of
directors of the Company or a duly authorized committee thereof, or a duly authorized executive committee, against payment therefor as provided herein, will be duly and validly authorized and issued and fully paid and nonassessable, free and clear
of any pledge, lien, encumbrance, security interest or other claim, including any statutory or contractual preemptive rights, resale rights, rights of first refusal or other similar rights, and will be registered pursuant to Section&nbsp;12 of the
Exchange Act. The Placement Shares, when issued, will conform to the description thereof set forth in or incorporated into the Prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(m) <U>No Consents Required</U>. No consent, approval, authorization, order, registration or qualification of or with any Governmental
Authority is required for the execution, delivery and performance by the Company of this Agreement, the issuance and sale by the Company of the Placement Shares, except for such consents, approvals, authorizations, orders and registrations or
qualifications as may be required under applicable state securities laws or by the <FONT STYLE="white-space:nowrap">by-laws</FONT> and rules of the Financial Industry Regulatory Authority (&#147;<B><U>FINRA</U></B>&#148;) or the Exchange in
connection with the sale of the Placement Shares by the Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(n) <U>No Preferential Rights</U>. Except as set forth in the Registration
Statement and the Prospectus, (i)&nbsp;no person, as such term is defined in Rule <FONT STYLE="white-space:nowrap">1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> promulgated under the Securities Act (each, a
&#147;<B><U>Person</U></B>&#148;), has the right, contractual or otherwise, to cause the Company to issue or sell to such Person any Common Stock or shares of any other capital stock or other securities of the Company, (ii)&nbsp;no Person has any
preemptive rights, resale rights, rights of first refusal, rights of <FONT STYLE="white-space:nowrap">co-sale,</FONT> or any other rights (whether pursuant to a &#147;poison pill&#148; provision or otherwise) to purchase from the Company any Common
Stock or shares of any other capital stock or other securities of the Company, (iii)&nbsp;no Person has the right to act as an underwriter or as a financial advisor to the Company in connection with the offer and sale of the Common Stock, and
(iv)&nbsp;no Person has the right, contractual or otherwise, to require the Company to register under the Securities Act any Common Stock or shares of any other capital stock or other securities of the Company, or to include any such shares or other
securities in the Registration Statement or the offering contemplated thereby, whether as a result of the filing or effectiveness of the Registration Statement or the sale of the Placement Shares as contemplated thereby or otherwise, which have not
been waived with respect to the offering contemplated by this Agreement. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(o) <U>Independent Public Accounting Firm</U>. Marcum LLP (the
&#147;<B><U>Accountant</U></B>&#148;), whose report on the consolidated financial statements of the Company is filed with the Commission as part of the Company&#146;s most recent Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT>
filed with the Commission and incorporated by reference into the Registration Statement and the Prospectus, are and, during the periods covered by its report, was an independent registered public accounting firm within the meaning of the Securities
Act and the Public Company Accounting Oversight Board (United States). To the Company&#146;s knowledge, the Accountant is not in violation of the auditor independence requirements of the Sarbanes-Oxley Act of 2002 (the &#147;<B><U>Sarbanes-Oxley
Act</U></B>&#148;) with respect to the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(p) <U>Enforceability of Agreements</U>. All agreements between the Company and third
parties expressly referenced in the Prospectus are legal, valid and binding obligations of the Company enforceable in accordance with their respective terms, except to the extent that (i)&nbsp;enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting creditors&#146; rights generally and by general equitable principles and (ii)&nbsp;the indemnification provisions of certain agreements may be limited by federal or state securities laws or public
policy considerations in respect thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(q) <U>No Litigation</U>. Except as set forth in the Registration Statement or the Prospectus,
there are no actions, suits or proceedings by or before any Governmental Authority pending, nor, to the Company&#146;s knowledge, any audits or investigations by or before any Governmental Authority, to which the Company or a Subsidiary is a party
or to which any property of the Company or any of its Subsidiaries is the subject that, individually or in the aggregate, would have a Material Adverse Effect and, to the Company&#146;s knowledge, no such actions, suits, proceedings, audits or
investigations are threatened or contemplated by any Governmental Authority or threatened by others; and (i)&nbsp;there are no current or pending audits, investigations, actions, suits or proceedings by or before any Governmental Authority that are
required under the Securities Act to be described in the Prospectus that are not so described; and (ii)&nbsp;there are no contracts or other documents that are required under the Securities Act to be filed as exhibits to the Registration Statement
that are not so filed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(r) <U>Consents and Permits</U>. Except as disclosed in the Registration Statement and the Prospectus, the Company
and its Subsidiaries have made all filings, applications and submissions required by, possesses and is operating in compliance with, all approvals, licenses, certificates, certifications, clearances, consents, grants, exemptions, marks,
notifications, orders, permits and other authorizations issued by, the appropriate federal, state or foreign Governmental Authority (including, without limitation, the United States Food and Drug Administration (the &#147;<B><U>FDA</U></B>&#148;),
the United States Drug Enforcement Administration or any other foreign, federal, state, provincial, court or local government or regulatory authorities including self-regulatory organizations engaged in the regulation of clinical trials,
pharmaceuticals, biologics or biohazardous substances or materials) necessary for the ownership or lease of their respective properties or to conduct its businesses as described in the Registration Statement and the Prospectus (collectively,
&#147;<B><U>Permits</U></B>&#148;), except for such Permits the failure of which to possess, obtain or make the same would not have a Material Adverse Effect; the Company and its Subsidiaries are in compliance with the terms and conditions of all
such Permits, except where the failure to be in compliance would not have a Material Adverse Effect; all of the Permits are valid and in full force and effect, except where any invalidity, individually or in the aggregate, would not be reasonably
expected to have a Material Adverse Effect; and neither the Company nor any of its Subsidiaries has received any written notice relating to the limitation, revocation, cancellation, suspension, modification or
<FONT STYLE="white-space:nowrap">non-renewal</FONT> of any such Permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would have a Material Adverse Effect, or has any reason to believe that any such
license, certificate, permit or authorization will not be renewed in the ordinary course. To the extent required by applicable laws and regulations of the FDA, the Company or the applicable Subsidiary has submitted to the FDA an Investigational New
Drug Application or amendment or supplement thereto for each clinical trial it has conducted or sponsored or is conducting or sponsoring; all such submissions were in material compliance with applicable laws and rules and regulations when submitted
and no material deficiencies have been asserted by the FDA with respect to any such submissions. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(s) <U>Regulatory Filings</U>. Except as disclosed in the Registration Statement and the
Prospectus, neither the Company nor any of its Subsidiaries has failed to file with the applicable Governmental Authorities (including, without limitation, the FDA, or any foreign, federal, state, provincial or local Governmental Authority
performing functions similar to those performed by the FDA) any required filing, declaration, listing, registration, report or submission, except for such failures that, individually or in the aggregate, would not have a Material Adverse Effect;
except as disclosed in the Registration Statement and the Prospectus, all such filings, declarations, listings, registrations, reports or submissions were in compliance with applicable laws when filed and no deficiencies have been asserted by any
applicable regulatory authority with respect to any such filings, declarations, listings, registrations, reports or submissions, except for any deficiencies that, individually or in the aggregate, would not have a Material Adverse Effect. The
Company has operated and currently is, in all material respects, in compliance with the United States Federal Food, Drug, and Cosmetic Act, all applicable rules and regulations of the FDA and other federal, state, local and foreign Governmental
Authority exercising comparable authority. The Company has no knowledge of any studies, tests or trials not described in the Prospectus the results of which reasonably call into question in any material respect the results of the studies, tests and
trials described in the Prospectus. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(t) <U>Intellectual Property</U>. Except as disclosed in the Registration Statement and the
Prospectus, the Company and its Subsidiaries own, possess, license or have other rights to use all foreign and domestic patents, patent applications, trade and service marks, trade and service mark registrations, trade names, copyrights, licenses,
inventions, trade secrets, technology, Internet domain names, <FONT STYLE="white-space:nowrap">know-how</FONT> and other intellectual property (collectively, the &#147;<B><U>Intellectual Property</U></B>&#148;), necessary for the conduct of their
respective businesses as now conducted except to the extent that the failure to own, possess, license or otherwise hold adequate rights to use such Intellectual Property would not, individually or in the aggregate, have a Material Adverse Effect.
Except as disclosed in the Registration Statement and the Prospectus (i)&nbsp;the Company has not received any notice of infringement of or conflict with asserted rights of third parties with respect to any such Intellectual Property owned by the
Company and its Subsidiaries; (ii)&nbsp;to the Company&#146;s knowledge, there is no infringement by third parties of any such Intellectual Property; (iii)&nbsp;there is no pending or, to the Company&#146;s knowledge, threatened action, suit,
proceeding or claim by others challenging the Company&#146;s and its Subsidiaries&#146; rights in or to any such Intellectual Property, and the Company is unaware of any facts which could form a reasonable basis for any such action, suit, proceeding
or claim; (iv)&nbsp;there is no pending or, to the Company&#146;s knowledge, threatened action, suit, proceeding or claim by others challenging the validity or scope of any such Intellectual Property; (v)&nbsp;there is no pending or, to the
Company&#146;s knowledge, threatened action, suit, proceeding or claim by others that the Company and its Subsidiaries infringe or otherwise violate any patent, trademark, copyright, trade secret or other proprietary rights of others; (vi)&nbsp;to
the Company&#146;s knowledge, there is no third-party U.S. patent or published U.S. patent application which contains claims for which an Interference Proceeding (as defined in 35 U.S.C. &#167; 135) has been commenced against any patent or patent
application described in the Prospectus as being owned by or licensed to the Company; and (vii)&nbsp;the Company and its Subsidiaries have complied with the terms of each agreement pursuant to which Intellectual Property has been licensed to the
Company or such Subsidiary, and all such agreements are in full force and effect, except, in the case of any of clauses (i)-(vii) above, for any such infringement by third parties or any such pending or threatened suit, action, proceeding or claim
as would not, individually or in the aggregate, result in a Material Adverse Effect. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(u) <U>Clinical Studies</U>. The preclinical studies and tests and clinical trials described
in the Prospectus were, and, if still pending, are being conducted in all respects in accordance with the experimental protocols, procedures and controls pursuant to, where applicable, accepted professional and scientific standards for products or
product candidates comparable to those being developed by the Company, except in each case where failure to comply would not be reasonably expected to have a Material Adverse Effect; the descriptions of such studies, tests and trials, and the
results thereof, contained in the Prospectus are accurate and complete in all material respects; the Company is not aware of any tests, studies or trials not described in the Prospectus, the results of which reasonably call into question the results
of the tests, studies and trials described in the Prospectus; and the Company has not received any written notice or correspondence from the FDA or any foreign, state or local Governmental Authority exercising comparable authority or any
institutional review board or comparable authority requiring the termination, suspension, clinical hold or material modification of any tests, studies or trials. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(v) <U>Market Capitalization</U>. At the time the Registration Statement was originally declared effective, and at the time the Company&#146;s
most recent Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> was filed with the Commission, the Company met the then applicable requirements for the use of Form <FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act,
including, but not limited to, General Instruction I.B.6 of Form <FONT STYLE="white-space:nowrap">S-3.</FONT> The aggregate market value&nbsp;of the outstanding voting and <FONT STYLE="white-space:nowrap">non-voting</FONT> common equity (as defined
in Securities Act Rule 405) of the Company held by persons other than affiliates of the Company (pursuant to Securities Act Rule 144, those that directly, or indirectly through one or more intermediaries, control, or are controlled by, or are under
common control with, the Company)&nbsp;(the &#147;<B><U><FONT STYLE="white-space:nowrap">Non-Affiliate</FONT> Shares</U></B>&#148;), was equal to at least $46 million&nbsp;(calculated by multiplying (x)&nbsp;the last reported sale price of the
common equity of the Company on the Exchange on August&nbsp;14, 2020 times (y)&nbsp;the number of <FONT STYLE="white-space:nowrap">Non-Affiliate</FONT> Shares). The Company is not a shell company (as defined in Rule 405 under the Securities Act) and
has not been a shell company for at least 12 calendar months previously and if it has been a shell company at any time previously, has filed current Form 10 information (as defined in Instruction I.B.6 of Form
<FONT STYLE="white-space:nowrap">S-3)</FONT> with the Commission at least 12 calendar months previously reflecting its status as an entity that is not a shell company. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(w) <U>No Material Defaults</U>. Neither the Company nor any of the Subsidiaries has
defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, would have a Material Adverse Effect. The Company has not filed a report pursuant to
Section&nbsp;13(a) or 15(d) of the Exchange Act since the filing of its last Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> indicating that it (i)&nbsp;has failed to pay any dividend or sinking fund installment on preferred
stock or (ii)&nbsp;has defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, would reasonably be expected to have a Material Adverse
Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(x) <U>Certain Market Activities</U>. Neither the Company, nor any of the Subsidiaries, nor, to the Company&#146;s knowledge, any
of their respective directors, officers or controlling persons has taken, directly or indirectly, any action designed, or that has constituted or would reasonably be expected to cause or result in, under the Exchange Act or otherwise, the
stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Placement Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(y)
<U>Broker/Dealer Relationships</U>. Neither the Company nor any of the Subsidiaries (i)&nbsp;is required to register as a &#147;broker&#148; or &#147;dealer&#148; in accordance with the provisions of the Exchange Act or (ii)&nbsp;directly or
indirectly through one or more intermediaries, controls or is a &#147;person associated with a member&#148; or &#147;associated person of a member&#148; (within the meaning set forth in the FINRA Manual). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(z) <U>No Reliance</U>. The Company has not relied upon the Agent or legal counsel for the Agent for any legal, tax or accounting advice in
connection with the offering and sale of the Placement Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(aa) <U>Taxes</U>. The Company and each of its Subsidiaries have filed all
federal, state, local and foreign tax returns which have been required to be filed by the Company or a Subsidiary, or have properly requested extensions thereof, and paid all taxes shown thereon through the date hereof, to the extent that such taxes
have become due and are not being contested in good faith, except where the failure to so file or pay would not reasonably be expected to have a Material Adverse Effect. Except as otherwise disclosed in or contemplated by the Registration Statement
or the Prospectus, no tax deficiency has been determined adversely to the Company or any of its Subsidiaries which has had, or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. The Company has no
knowledge of any federal, state or other governmental tax deficiency, penalty or assessment which has been or could reasonably be expected to be asserted or threatened against it which would reasonably be expected to have a Material Adverse Effect.
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(bb) <U>Title to Real and Personal Property</U>. Except as set forth in the Registration
Statement or the Prospectus, the Company and its Subsidiaries have good and marketable title in fee simple to all items of real property owned by them, good and valid title to all personal property described in the Registration Statement or
Prospectus as being owned by them, in each case free and clear of all liens, encumbrances and claims, except those matters that (i)&nbsp;do not materially interfere with the use made and proposed to be made of such property by the Company and any of
its Subsidiaries or (ii)&nbsp;would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Any real or personal property described in the Registration Statement or Prospectus as being leased by the Company
and any of its Subsidiaries is held by them under valid, existing and enforceable leases, except those that (A)&nbsp;do not materially interfere with the use made or proposed to be made of such property by the Company or any of its Subsidiaries or
(B)&nbsp;would not be reasonably expected, individually or in the aggregate, to have a Material Adverse Effect. Each of the properties of the Company and its Subsidiaries complies with all applicable codes, laws and regulations (including, without
limitation, building and zoning codes, laws and regulations and laws relating to access to such properties), except if and to the extent disclosed in the Registration Statement or Prospectus or except for such failures to comply that would not,
individually or in the aggregate, reasonably be expected to interfere in any material respect with the use made and proposed to be made of such property by the Company and its Subsidiaries or otherwise have a Material Adverse Effect. None of the
Company or its subsidiaries has received from any Governmental Authorities any notice of any condemnation of, or zoning change affecting, the properties of the Company and its Subsidiaries, and the Company knows of no such condemnation or zoning
change which is threatened, except for such that would not reasonably be expected to interfere in any material respect with the use made and proposed to be made of such property by the Company and its Subsidiaries or otherwise have a Material
Adverse Effect, individually or in the aggregate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(cc) <U>Environmental Laws</U>. Except as set forth in the Registration Statement or
the Prospectus, the Company and its Subsidiaries (i)&nbsp;are in compliance with any and all applicable federal, state, local and foreign laws, rules, regulations, decisions and orders relating to the protection of human health and safety, the
environment or hazardous or toxic substances or wastes, pollutants or contaminants (collectively, &#147;<B><U>Environmental Laws</U></B>&#148;); (ii)&nbsp;have received and are in compliance with all permits, licenses or other approvals required of
them under applicable Environmental Laws to conduct their respective businesses as described in the Registration Statement and the Prospectus; and (iii)&nbsp;have not received notice of any actual or potential liability for the investigation or
remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, except, in the case of any of clauses (i), (ii) or (iii)&nbsp;above, for any such failure to comply or failure to receive required
permits, licenses, other approvals or liability as would not, individually or in the aggregate, have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(dd)
<U>Disclosure Controls</U>. The Company and each of its Subsidiaries maintain systems of internal accounting controls designed to provide reasonable assurance that (i)&nbsp;transactions are executed in accordance with management&#146;s general or
specific authorizations; (ii)&nbsp;transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; (iii)&nbsp;access to assets is
permitted only in accordance with management&#146;s general or specific authorization; and (iv)&nbsp;the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to
any differences. The Company&#146;s internal control over financial reporting is effective and the Company is not aware of any material weaknesses in its internal control over financial reporting (other than as set forth in the Prospectus). Since
the date of the latest audited financial statements of the Company included in the Prospectus, there has been no change in the Company&#146;s internal control over financial reporting that has materially affected, or is reasonably likely to
materially affect, the Company&#146;s internal control over financial reporting (other than as set forth in the Prospectus). The Company has established disclosure controls and procedures (as defined in Exchange Act Rules <FONT
STYLE="white-space:nowrap">13a-15</FONT> and <FONT STYLE="white-space:nowrap">15d-15)</FONT> for the Company and designed such disclosure controls and procedures to provide reasonable assurance that material information relating to the Company and
each of its Subsidiaries is made known to the certifying officers by others within those entities, particularly during the period in which the Company&#146;s Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> or Quarterly Report on
Form <FONT STYLE="white-space:nowrap">10-Q,</FONT> as the case may be, is being prepared. The Company&#146;s certifying officers have evaluated the effectiveness of the Company&#146;s disclosure controls and procedures as of a date within 90 days
prior to the filing date of the Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the fiscal year most recently ended (such date, the <B>&#147;</B><B><U>Evaluation Date</U></B>&#148;). The Company presented in its Form <FONT
STYLE="white-space:nowrap">10-K</FONT> for the fiscal year most recently ended the conclusions of the certifying officers about the effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation Date and the
disclosure controls and procedures were effective. Since the Evaluation Date, there have been no significant changes in the Company&#146;s internal controls (as such term is defined in Item 307(b) of Regulation
<FONT STYLE="white-space:nowrap">S-K</FONT> under the Securities Act) or, to the Company&#146;s knowledge, in other factors that could significantly affect the Company&#146;s internal controls. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ee) <U>Sarbanes-Oxley</U>. There is and has been no failure on the part of the Company or,
to the Company&#146;s knowledge, any of the Company&#146;s directors or officers, in their capacities as such, to comply in all material respects with any applicable provisions of the Sarbanes-Oxley Act and the rules and regulations promulgated
thereunder. Each of the principal executive officer and the principal financial officer of the Company (or each former principal executive officer of the Company and each former principal financial officer of the Company as applicable) has made all
certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act with respect to all reports, schedules, forms, statements and other documents required to be filed by it or furnished by it to the Commission. For purposes of the preceding
sentence, &#147;principal executive officer&#148; and &#147;principal financial officer&#148; shall have the meanings given to such terms in the Sarbanes-Oxley Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ff) <U>Finder&#146;s Fees</U>. Neither the Company nor any of the Subsidiaries has incurred any liability for any finder&#146;s fees,
brokerage commissions or similar payments in connection with the transactions herein contemplated, except as may otherwise exist with respect to Agent pursuant to this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(gg) <U>Labor Disputes</U>. No labor disturbance by or dispute with employees of the Company or any of its Subsidiaries exists or, to the
knowledge of the Company, is threatened which would reasonably be expected to result in a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(hh) <U>Investment
Company Act</U>. Neither the Company nor any of the Subsidiaries is or, after giving effect to the offering and sale of the Placement Shares, will be an &#147;investment company&#148; or an entity &#147;controlled&#148; by an &#147;investment
company,&#148; as such terms are defined in the Investment Company Act of 1940, as amended (the &#147;<B><U>Investment Company Act</U></B>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii) <U>Operations</U>. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with
applicable financial record keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions to which the Company or its Subsidiaries are subject, the
rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any Governmental Authority (collectively, the &#147;<B><U>Money Laundering Laws</U></B>&#148;); and no action, suit or
proceeding by or before any Governmental Authority involving the Company or any of its Subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-15- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(jj) <U><FONT STYLE="white-space:nowrap">Off-Balance</FONT> Sheet Arrangements</U>. There
are no transactions, arrangements and other relationships between and/or among the Company and/or any of its affiliates and any unconsolidated entity, including, but not limited to, any structured finance, special purpose or limited purpose entity
(each, an &#147;<B><U><FONT STYLE="white-space:nowrap">Off-Balance</FONT> Sheet Transaction</U></B>&#148;) that could reasonably be expected to affect materially the Company&#146;s liquidity or the availability of or requirements for its capital
resources, including those <FONT STYLE="white-space:nowrap">Off-Balance</FONT> Sheet Transactions described in the Commission&#146;s Statement about Management&#146;s Discussion and Analysis of Financial Conditions and Results of Operations (Release
Nos. <FONT STYLE="white-space:nowrap">33-8056;</FONT> <FONT STYLE="white-space:nowrap">34-45321;</FONT> <FONT STYLE="white-space:nowrap">FR-61),</FONT> required to be described in the Prospectus which have not been described as required. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(kk) <U>Underwriter Agreements</U>. The Company is not a party to any agreement with an agent or underwriter for any other &#147;at the
market&#148; or continuous equity transaction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ll) <U>ERISA</U>. To the knowledge of the Company, each material employee benefit plan,
within the meaning of Section&nbsp;3(3) of the Employee Retirement Income Security Act of 1974, as amended (&#147;<B><U>ERISA</U></B>&#148;), that is maintained, administered or contributed to by the Company or any of its affiliates for employees or
former employees of the Company and any of its Subsidiaries has been maintained in material compliance with its terms and the requirements of any applicable statutes, orders, rules and regulations, including but not limited to ERISA and the Internal
Revenue Code of 1986, as amended (the &#147;<B><U>Code</U></B>&#148;); no prohibited transaction, within the meaning of Section&nbsp;406 of ERISA or Section&nbsp;4975 of the Code, has occurred which would result in a material liability to the
Company with respect to any such plan excluding transactions effected pursuant to a statutory or administrative exemption; and for each such plan that is subject to the funding rules of Section&nbsp;412 of the Code or Section&nbsp;302 of ERISA, no
&#147;accumulated funding deficiency&#148; as defined in Section&nbsp;412 of the Code has been incurred, whether or not waived, that would result in a material liability to the Company, and the fair market value of the assets of each such plan
(excluding for these purposes accrued but unpaid contributions) exceeds the present value of all benefits accrued under such plan determined using reasonable actuarial assumptions, except where such failure would not reasonably be expected to result
in a material liability to the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(mm) <U>Forward-Looking Statements</U>. No forward-looking statement (within the meaning of
Section&nbsp;27A of the Securities Act and Section&nbsp;21E of the Exchange Act) contained in the Registration Statement and the Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(nn) <U>Agent Purchases</U>. The Company acknowledges and agrees that Agent has informed the Company that the Agent may, to the extent
permitted under the Securities Act and the Exchange Act, purchase and sell Common Stock for its own account while this Agreement is in effect, <I>provided</I>, that the Company shall not be deemed to have authorized or consented to any such
purchases or sales by the Agent. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(oo) <U>Margin Rules</U>. Neither the issuance, sale and delivery of the Placement Shares
nor the application of the proceeds thereof by the Company as described in the Registration Statement and the Prospectus will violate Regulation T, U or X of the Board of Governors of the Federal Reserve System or any other regulation of such Board
of Governors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(pp) <U>Insurance</U>. The Company and each of its Subsidiaries carry, or are covered by, insurance in such amounts and
covering such risks as the Company and each of its Subsidiaries reasonably believe are adequate for the conduct of their business and as is customary for companies of similar size engaged in similar businesses in similar industries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(qq) <U>No Improper Practices</U>. (i)&nbsp;Neither the Company nor the Subsidiaries, nor, to the Company&#146;s knowledge, any director,
officer, or employee of the Company or any Subsidiary nor, to the Company&#146;s knowledge, any agent, affiliate, or other person acting on behalf of the Company or any Subsidiary has, in the past five years, made any unlawful contributions to any
candidate for any political office (or failed fully to disclose any contribution in violation of applicable law) or made any contribution or other payment to any official of, or candidate for, any federal, state, municipal, or foreign office or
other person charged with similar public or quasi-public duty in violation of any applicable law or of the character required to be disclosed in the Prospectus;; (ii)&nbsp;no relationship, direct or indirect, exists between or among the Company or
any Subsidiary or any affiliate of any of them, on the one hand, and the directors, officers and stockholders of the Company or any Subsidiary, on the other hand, that is required by the Securities Act to be described in the Registration Statement
and the Prospectus that is not so described; (iii)&nbsp;no relationship, direct or indirect, exists between or among the Company or any Subsidiary or any affiliate of them, on the one hand, and the directors, officers, or stockholders of the Company
or any Subsidiary, on the other hand, that is required by the rules of FINRA to be described in the Registration Statement and the Prospectus that is not so described; (iv)&nbsp;except as described in the Registration Statement and the Prospectus,
there are no material outstanding loans or advances or material guarantees of indebtedness by the Company or any Subsidiary to or for the benefit of any of their respective officers or directors or any of the members of the families of any of them;
(v)&nbsp;the Company has not offered, or caused any placement agent to offer, Common Stock to any person with the intent to influence unlawfully (A)&nbsp;a customer or supplier of the Company or any Subsidiary to alter the customer&#146;s or
supplier&#146;s level or type of business with the Company or any Subsidiary or (B)&nbsp;a trade journalist or publication to write or publish favorable information about the Company or any Subsidiary or any of their respective products or services;
and (vi)&nbsp;neither the Company nor any Subsidiary nor, to the Company&#146;s knowledge, any director, officer, or employee of the Company or any Subsidiary nor, to the Company&#146;s knowledge, any agent, affiliate, or other person acting on
behalf of the Company or any Subsidiary has (A)&nbsp;violated or is in violation of any applicable provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, or any other applicable anti-bribery or anti-corruption law (collectively,
&#147;<B><U>Anti-Corruption Laws</U></B>&#148;), (B) promised, offered, provided, attempted to provide, or authorized the provision of anything of value, directly or indirectly, to any person for the purpose of obtaining or retaining business,
influencing any act or decision of the recipient, or securing any improper advantage; or (C)&nbsp;made any payment of funds of the Company or any Subsidiary or received or retained any funds in violation of any Anti-Corruption Laws. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(rr) <U>Status Under the Securities Act</U>. The Company was not and is not an ineligible
issuer as defined in Rule 405 under the Securities Act at the times specified in Rules 164 and 433 under the Securities Act in connection with the offering of the Placement Shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ss) <U>No Misstatement or Omission in an Issuer Free Writing Prospectus</U>. Each Issuer Free Writing Prospectus, as of its issue date and as
of each Applicable Time (as defined in <U>Section</U><U></U><U>&nbsp;23</U> below), did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained in the Registration Statement or
the Prospectus, including any Incorporated Document that has not been superseded or modified. The foregoing sentence does not apply to statements in or omissions from any Issuer Free Writing Prospectus based upon and in conformity with written
information furnished to the Company by the Agent specifically for use therein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(tt) <U>No Conflicts</U>. Neither the execution of this
Agreement, nor the issuance, offering or sale of the Placement Shares, nor the consummation of any of the transactions contemplated herein, nor the compliance by the Company with the terms and provisions hereof will conflict with, or will result in
a breach of, any of the terms and provisions of, or has constituted or will constitute a default under, or has resulted in or will result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company
pursuant to the terms of any contract or other agreement to which the Company may be bound or to which any of the property or assets of the Company is subject, except (i)&nbsp;such conflicts, breaches or defaults as may have been waived and
(ii)&nbsp;such conflicts, breaches and defaults that would not reasonably be expected to have a Material Adverse Effect; nor will such action result (x)&nbsp;in any violation of the provisions of the organizational or governing documents of the
Company, or (y)&nbsp;in any violation of the provisions of any statute or any order, rule or regulation applicable to the Company or of any Governmental Authority having jurisdiction over the Company, except in the case of clause (y)&nbsp;for such
violations as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(uu)
<U>Sanctions</U>. (i)&nbsp;The Company represents that, neither the Company nor any of its Subsidiaries (collectively, the &#147;<B><U>Entity</U></B>&#148;) nor, to the Entity&#146;s knowledge, any director, officer, employee, agent, affiliate or
representative of the Entity, is a government, individual, or entity (in this paragraph (uu), &#147;<B><U>Person</U></B>&#148;) that is, or is owned or controlled by a Person that is: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A)&nbsp;the subject of any sanctions administered or enforced by the U.S. Department of Treasury&#146;s Office of Foreign
Assets Control (&#147;<B><U>OFAC</U></B>&#148;), the United Nations Security Council, the European Union, Her Majesty&#146;s Treasury, or other relevant sanctions authorities, including, without limitation, designation on OFAC&#146;s Specially
Designated Nationals and Blocked Persons List or OFAC&#146;s Foreign Sanctions Evaders List (as amended, collectively, &#147;<B><U>Sanctions</U></B>&#148;), nor </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B)&nbsp;located, organized or resident in a country or territory that is the subject of Sanctions that broadly prohibit
dealings with that country or territory (including, without limitation, Cuba, Iran, North Korea, Syria, and the Crimea Region of the Ukraine) (the &#147;<B><U>Sanctioned Countries</U></B>&#148;). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-18- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;The Entity represents and covenants that it will not, directly or indirectly, use
the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A)&nbsp;to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the
time of such funding or facilitation, is the subject of Sanctions or is a Sanctioned Country; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B)&nbsp;in any other
manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;The Entity represents and covenants that, except as detailed in the Registration Statement and the Prospectus, for the past 5
years, it has not engaged in, is not now engaging in, and will not engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions or is or
was a Sanctioned Country. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(vv) <U>Stock Transfer Taxes</U>. On each Settlement Date, all stock transfer or other taxes (other than income
taxes) which are required to be paid in connection with the sale and transfer of the Placement Shares to be sold hereunder will be, or will have been, fully paid or provided for by the Company and all laws imposing such taxes will be or will have
been fully complied with in all material respects. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ww) <U>Compliance with Laws</U>. Each of the Company and its Subsidiaries:
(A)&nbsp;is and at all times has been in compliance with all statutes, rules, or regulations applicable to the ownership, testing, development, manufacture, packaging, processing, use, distribution, marketing, labeling, promotion, sale, offer for
sale, storage, import, export or disposal of any product manufactured or distributed by the Company or its Subsidiaries (&#147;<B><U>Applicable Laws</U></B>&#148;), except as would not, individually or in the aggregate, reasonably be expected to
result in a Material Adverse Effect; (B)&nbsp;has not received any FDA Form 483, notice of adverse finding, warning letter, untitled letter or other correspondence or notice from the FDA or any other Governmental Authority alleging or asserting
noncompliance with any Applicable Laws or any licenses, certificates, approvals, clearances, authorizations, permits and supplements or amendments thereto required by any such Applicable Laws (&#147;<B><U>Authorizations</U></B>&#148;), except as
would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect; (C)&nbsp;possesses all material Authorizations and such Authorizations are valid and in full force and effect and are not in material
violation of any term of any such Authorizations; (D)&nbsp;has not received notice of any claim, action, suit, proceeding, hearing, enforcement, investigation, arbitration or other action from any Governmental Authority or third party alleging that
any product operation or activity is in violation of any Applicable Laws or Authorizations and has no knowledge that any such Governmental Authority or third party is considering any such claim, litigation, arbitration, action, suit, investigation
or proceeding, except as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect; (E)&nbsp;has not received notice that any Governmental Authority has taken, is taking or intends to take action to
limit, suspend, modify or revoke any Authorizations and has no knowledge that any such Governmental Authority is considering such action, except as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse
Effect; (F)&nbsp;has filed, obtained, maintained or submitted all material reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments as required by any Applicable Laws or Authorizations and that all
such reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments were complete and correct on the date filed (or were corrected or supplemented by a subsequent submission), except as would not,
individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect; and (G)&nbsp;has not, either voluntarily or involuntarily, initiated, conducted, or issued or caused to be initiated, conducted or issued, any recall,
market withdrawal or replacement, safety alert, post sale warning, &#147;dear healthcare provider&#148; letter, or other notice or action relating to the alleged lack of safety or efficacy of any product or any alleged product defect or violation,
except as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, and, to the Company&#146;s knowledge, no third party has initiated, conducted or intends to initiate any such notice or action.
</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(xx) <U>Statistical and Market-Related Data</U>.&nbsp;The statistical, demographic and
market-related data included in the Registration Statement and Prospectus are based on or derived from sources that the Company believes to be reliable and accurate or represent the Company&#146;s good faith estimates that are made on the basis of
data derived from such sources. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(yy) <U>Cyber Security</U>. Except as may be included or incorporated by reference in the Registration
Statement and the Prospectus, (x)&nbsp;to the Company&#146;s knowledge, there has been no material security breach or other material compromise of or relating to any of the Company&#146;s information technology and computer systems, networks,
hardware, software, data (including the data of their respective customers, employees, suppliers, vendors and any third party data maintained by or on behalf of them), equipment or technology (collectively, &#147;<B><U>IT Systems and
Data</U></B>&#148;) and (y)&nbsp;the Company has not been notified of, and has no knowledge of any event or condition that would reasonably be expected to result in, any material security breach or other material compromise to their IT Systems and
Data; (ii)&nbsp;the Company is presently in compliance with all applicable laws or statutes and all judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority, internal policies and contractual
obligations relating to the privacy and security of IT Systems and Data and to the protection of such IT Systems and Data from unauthorized use, access, misappropriation or modification, except as would not, in the case of this clause (ii),
individually or in the aggregate, result in a Material Adverse Effect; and (iii)&nbsp;the Company has implemented backup and disaster recovery technology consistent with industry standards and practices </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any certificate signed by an officer of the Company and delivered to the Agent or to counsel for the Agent pursuant to or in connection with
this Agreement shall be deemed to be a representation and warranty by the Company, as applicable, to the Agent as to the matters set forth therein. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-20- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <U>Covenants of the Company</U>. The Company covenants and agrees with the Agent that:
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <U>Registration Statement Amendments</U>. After the date of this Agreement and during any period in which a Prospectus relating to
any Placement Shares is required to be delivered by Agent under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act or similar rule), (i)&nbsp;the Company will notify
the Agent promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become effective or any subsequent supplement to the Prospectus
has been filed and of any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information, (ii)&nbsp;the Company will prepare and file with the Commission, promptly upon the
Agent&#146;s reasonable request, any amendments or supplements to the Registration Statement or Prospectus that, in the Agent&#146;s reasonable opinion, may be necessary or advisable in connection with the distribution of the Placement Shares by the
Agent (<I>provided</I>, <I>however</I>, that the failure of the Agent to make such request shall not relieve the Company of any obligation or liability hereunder, or affect the Agent&#146;s right to rely on the representations and warranties made by
the Company in this Agreement and <I>provided</I>, <I>further</I>, that the only remedy the Agent shall have with respect to the failure to make such filing shall be to cease making sales under this Agreement until such amendment or supplement is
filed); (iii)&nbsp;the Company will not file any amendment or supplement to the Registration Statement or Prospectus relating to the Placement Shares or a security convertible into the Placement Shares unless a copy thereof has been submitted to
Agent within a reasonable period of time before the filing and the Agent has not reasonably objected thereto within two (2)&nbsp;Business Days (<I>provided</I>, <I>however</I>, that the failure of the Agent to make such objection shall not relieve
the Company of any obligation or liability hereunder, or affect the Agent&#146;s right to rely on the representations and warranties made by the Company in this Agreement and <I>provided</I>, <I>further</I>, that the only remedy the Agent shall have
with respect to the failure by the Company to obtain such consent shall be to cease making sales under this Agreement) and the Company will furnish to the Agent at the time of filing thereof a copy of any document that upon filing is deemed to be
incorporated by reference into the Registration Statement or Prospectus, except for those documents available via EDGAR; and (iv)&nbsp;the Company will cause each amendment or supplement to the Prospectus to be filed with the Commission as required
pursuant to the applicable paragraph of Rule 424(b) of the Securities Act or, in the case of any document to be incorporated therein by reference, to be filed with the Commission as required pursuant to the Exchange Act, within the time period
prescribed (the determination to file or not file any amendment or supplement with the Commission under this <U>Section</U><U></U><U>&nbsp;7(a)</U>, based on the Company&#146;s reasonable opinion or reasonable objections, shall be made exclusively
by the Company). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) <U>Notice of Commission Stop Orders</U>. The Company will advise the Agent, promptly after it receives notice or
obtains knowledge thereof, of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement, of the suspension of the qualification of the Placement Shares for offering or sale in
any jurisdiction, or of the initiation or threatening of any proceeding for any such purpose; and it will promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to obtain its withdrawal if such a stop order
should be issued. The Company will advise the Agent promptly after it receives any request by the Commission for any amendments to the Registration Statement or any amendment or supplements to the Prospectus or any Issuer Free Writing Prospectus or
for additional information related to the offering of the Placement Shares or for additional information related to the Registration Statement, the Prospectus or any Issuer Free Writing Prospectus. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-21- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) <U>Delivery of Prospectus; Subsequent Changes</U>. During any period in which a
Prospectus relating to the Placement Shares is required to be delivered by the Agent under the Securities Act with respect to the offer and sale of the Placement Shares, (including in circumstances where such requirement may be satisfied pursuant to
Rule 172 under the Securities Act or similar rule), the Company will comply with all requirements imposed upon it by the Securities Act, as from time to time in force, and to file on or before their respective due dates all reports and any
definitive proxy or information statements required to be filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14, 15(d) or any other provision of or under the Exchange Act. If the Company has omitted any information from the
Registration Statement pursuant to Rule 430B under the Securities Act, it will use its best efforts to comply with the provisions of and make all requisite filings with the Commission pursuant to said Rule 430B and to notify the Agent promptly of
all such filings. If during such period any event occurs as a result of which the Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state a material fact necessary to make the statements
therein, in the light of the circumstances then existing, not misleading, or if during such period it is necessary to amend or supplement the Registration Statement or Prospectus to comply with the Securities Act, the Company will promptly notify
the Agent to suspend the offering of Placement Shares during such period and the Company will promptly amend or supplement the Registration Statement or Prospectus (at the expense of the Company) so as to correct such statement or omission or effect
such compliance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) <U>Listing of Placement Shares</U>. Prior to the date of the first Placement Notice, the Company will use its
reasonable best efforts to cause the Placement Shares to be listed on the Exchange. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) <U>Delivery of Registration Statement and
Prospectus</U>. The Company will furnish to the Agent and its counsel (at the expense of the Company) copies of the Registration Statement, the Prospectus (including all Incorporated Documents) and all amendments and supplements to the Registration
Statement or Prospectus that are filed with the Commission during any period in which a Prospectus relating to the Placement Shares is required to be delivered under the Securities Act (including all Incorporated Documents filed with the Commission
during such period), in each case as soon as reasonably practicable and in such quantities as the Agent may from time to time reasonably request and, at the Agent&#146;s request, will also furnish copies of the Prospectus to each exchange or market
on which sales of the Placement Shares may be made; <I>provided</I>, <I>however</I>, that the Company shall not be required to furnish any document (other than the Prospectus) to the Agent to the extent such document is available on EDGAR. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(f) <U>Earning Statement</U>. The Company will make generally available (via EDGAR or otherwise in writing) to its security holders as soon as
practicable, but in any event not later than 15 months after the end of the Company&#146;s current fiscal quarter, an earning statement covering a <FONT STYLE="white-space:nowrap">12-month</FONT> period that satisfies the provisions of
Section&nbsp;11(a) and Rule 158 of the Securities Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(g) <U>Use of Proceeds</U>. The Company will use the Net Proceeds as described in
the Prospectus in the section entitled &#147;Use of Proceeds.&#148; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(h) <U>Notice of Other Sales</U>. Without the prior written consent of the Agent, the
Company will not, directly or indirectly, offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Common Stock (other than the Placement Shares offered pursuant to this Agreement) or securities convertible into or
exchangeable for Common Stock, warrants or any rights to purchase or acquire, Common Stock during the period beginning on the fifth (5<SUP STYLE="font-size:85%; vertical-align:top">th</SUP>) Trading Day immediately prior to the date on which any
Placement Notice is delivered to Agent hereunder and ending on the fifth (5<SUP STYLE="font-size:85%; vertical-align:top">th</SUP>) Trading Day immediately following the final Settlement Date with respect to Placement Shares sold pursuant to such
Placement Notice (or, if the Placement Notice has been terminated or suspended prior to the sale of all Placement Shares covered by a Placement Notice, the date of such suspension or termination); and will not directly or indirectly in any other
&#147;at the market&#148; or continuous equity transaction offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Common Stock (other than the Placement Shares offered pursuant to this Agreement) or securities
convertible into or exchangeable for Common Stock, warrants or any rights to purchase or acquire, Common Stock prior to the sixtieth (60<SUP STYLE="font-size:85%; vertical-align:top">th</SUP>) day immediately following the termination of this
Agreement; <I>provided</I>, <I>however</I>, that such restrictions will not be required in connection with the Company&#146;s issuance or sale of (i)&nbsp;Common Stock, options to purchase Common Stock, other equity awards to acquire Common Stock,
or Common Stock issuable upon the exercise of options or other equity awards, pursuant to any equity incentive or benefits plan, stock ownership plan or dividend reinvestment plan (but not Common Stock subject to a waiver to exceed plan limits in
its dividend reinvestment plan) of the Company whether now in effect or hereafter implemented, (ii)&nbsp;Common Stock issuable upon conversion of securities or the exercise of warrants, options or other rights in effect or outstanding, and disclosed
in filings by the Company available on EDGAR or otherwise in writing to the Agent and (iii)&nbsp;Common Stock or securities convertible into or exchangeable for shares of Common Stock issued to vendors, customers or strategic partners as
consideration for mergers, acquisitions, other business combinations or strategic alliances occurring after the date of this Agreement which are not issued for capital raising purposes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) <U>Change of Circumstances</U>. The Company will, at any time during the pendency of a Placement Notice advise the Agent promptly after it
shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material respect any opinion, certificate, letter or other document required to be provided to the Agent pursuant to this
Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(j) <U>Due Diligence Cooperation</U>. The Company will cooperate with any reasonable due diligence review conducted by the
Agent or its representatives in connection with the transactions contemplated hereby, including, without limitation, providing information and making available documents and senior corporate officers, during regular business hours and at the
Company&#146;s principal offices, as the Agent may reasonably request. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(k) <U>Required Filings Relating to Placement of Placement
Shares</U>. The Company shall disclose, in its quarterly reports on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> and in its annual report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> to be filed by the Company with the Commission from
time to time, the number of the Placement Shares sold through the Agent under this Agreement, and the net proceeds to the Company from the sale of the Placement Shares pursuant to this Agreement during the relevant quarter or, in the case of an
Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> during the fiscal year covered by such Annual Report and the fourth quarter of such fiscal year. The Company agrees that on such dates as the Securities Act shall require, the
Company will (i)&nbsp;file a prospectus supplement with the Commission under the applicable paragraph of Rule 424(b) under the Securities Act (each and every filing date under Rule 424(b), a &#147;<B><U>Filing Date</U></B>&#148;), which prospectus
supplement will set forth, within the relevant period, the amount of Placement Shares sold through the Agent, the Net Proceeds to the Company and the compensation payable by the Company to the Agent with respect to such Placement Shares, and
(ii)&nbsp;deliver such number of copies of each such prospectus supplement to each exchange or market on which such sales were effected as may be required by the rules or regulations of such exchange or market. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(l) <U>Representation Dates; Certificate</U>. (1)&nbsp;Prior to the date of the first
Placement Notice and (2)&nbsp;each time the Company: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(i) files the Prospectus relating to the Placement Shares or amends or supplements
(other than a prospectus supplement relating solely to an offering of securities other than the Placement Shares) the Registration Statement or the Prospectus relating to the Placement Shares by means of a post-effective amendment, sticker, or
supplement but not by means of incorporation of documents by reference into the Registration Statement or the Prospectus relating to the Placement Shares; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(ii) files an annual report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> under the Exchange Act (including any Form <FONT
STYLE="white-space:nowrap">10-K/A</FONT> containing amended financial information or a material amendment to the previously filed Form <FONT STYLE="white-space:nowrap">10-K);</FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(iii) files its quarterly reports on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> under the Exchange Act; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(iv) files a current report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> containing amended financial information (other than
information &#147;furnished&#148; pursuant to Items 2.02 or 7.01 of <FONT STYLE="white-space:nowrap">Form&nbsp;8-K</FONT> or to provide disclosure pursuant to Item 8.01 of Form <FONT STYLE="white-space:nowrap">8-K</FONT> relating to the
reclassification of certain properties as discontinued operations in accordance with Statement of Financial Accounting Standards No.&nbsp;144) under the Exchange Act (each date of filing of one or more of the documents referred to in clauses
(i)&nbsp;through (iv) shall be a &#147;<B><U>Representation Date</U></B>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">the Company shall furnish the Agent (but in the case of clause
(iv)&nbsp;above only if the Agent reasonably determines that the information contained in such Form <FONT STYLE="white-space:nowrap">8-K</FONT> is material) with a certificate dated the Representation Date, in the form and substance reasonably
satisfactory to the Agent and its counsel, substantially similar to the form previously provided to the Agent and its counsel, modified, as necessary, to relate to the Registration Statement and the Prospectus as amended or supplemented. The
requirement to provide a certificate under this <U>Section</U><U></U><U>&nbsp;7(l)</U> shall be waived for any Representation Date occurring at a time during which no Placement Notice is pending or a Suspension is in effect, which waiver shall
continue until the earlier to occur of the date the Company delivers instructions for the sale of Placement Shares hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date.
Notwithstanding the foregoing, if the Company subsequently decides to sell Placement Shares following a Representation Date when the Company relied on such waiver and did not provide the Agent with a certificate under this
<U>Section</U><U></U><U>&nbsp;7(l)</U>, then before the Company delivers the instructions for the sale of Placement Shares or the Agent sells any Placement Shares pursuant to such instructions, the Company shall provide the Agent with a certificate
in conformity with this <U>Section</U><U></U><U>&nbsp;7(l)</U> dated as of the date that the instructions for the sale of Placement Shares are issued. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(m) <U>Legal Opinion</U>. (1)&nbsp;Prior to the date of the first Placement Notice and
(2)&nbsp;within five (5)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate pursuant to <U>Section</U><U></U><U>&nbsp;7(l)</U> for which no waiver is applicable and excluding the
date of this Agreement, the Company shall cause to be furnished to the Agent a written opinion of McCarter&nbsp;&amp; English LLP (&#147;<B><U>Company Counsel</U></B>&#148;), or other counsel reasonably satisfactory to the Agent, in form and
substance reasonably satisfactory to Agent and its counsel, substantially similar to the form previously provided to the Agent and its counsel, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or
supplemented; <I>provided</I>, <I>however</I>, the Company shall be required to furnish to Agent no more than one opinion hereunder per calendar quarter; <I>provided</I>, <I>further</I>, that in lieu of such opinions for subsequent periodic filings
under the Exchange Act, counsel may furnish the Agent with a letter (a &#147;<B><U>Reliance Letter</U></B>&#148;) to the effect that the Agent may rely on a prior opinion delivered under this <U>Section</U><U></U><U>&nbsp;7(m)</U> to the same extent
as if it were dated the date of such letter (except that statements in such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented as of the date of the Reliance Letter). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(n) <U>Comfort Letter</U>. (1)&nbsp;Prior to the date of the first Placement Notice and (2)&nbsp;within five (5)&nbsp;Trading Days of each
Representation Date with respect to which the Company is obligated to deliver a certificate pursuant to <U>Section</U><U></U><U>&nbsp;7(l)</U> for which no waiver is applicable and excluding the date of this Agreement, the Company shall cause its
independent registered public accounting firm to furnish the Agent letters (the &#147;<B><U>Comfort Letters</U></B>&#148;), dated the date the Comfort Letter is delivered, which shall meet the requirements set forth in this
<U>Section</U><U></U><U>&nbsp;7(n)</U>; <I>provided</I>, that if requested by the Agent, the Company shall cause a Comfort Letter to be furnished to the Agent within ten (10)&nbsp;Trading Days of the date of occurrence of any material transaction or
event, including the restatement of the Company&#146;s financial statements. The Comfort Letter from the Company&#146;s independent registered public accounting firm shall be in a form and substance reasonably satisfactory to the Agent,
(i)&nbsp;confirming that they are an independent registered public accounting firm within the meaning of the Securities Act and the PCAOB, (ii)&nbsp;stating, as of such date, the conclusions and findings of such firm with respect to the financial
information and other matters ordinarily covered by accountants&#146; &#147;comfort letters&#148; to underwriters in connection with registered public offerings (the first such letter, the &#147;<B><U>Initial Comfort Letter</U></B>&#148;) and
(iii)&nbsp;updating the Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as
amended and supplemented to the date of such letter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(o) <U>Market Activities</U>. The Company will not, directly or indirectly,
(i)&nbsp;take any action designed to cause or result in, or that constitutes or would reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of Common
Stock or (ii)&nbsp;sell, bid for, or purchase Common Stock in violation of Regulation M, or pay anyone any compensation for soliciting purchases of the Placement Shares other than the Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(p) <U>Investment Company Act</U>. The Company will conduct its affairs in such a manner so as to reasonably ensure that neither it nor any of
its Subsidiaries will be or become, at any time prior to the termination of this Agreement, required to register as an &#147;investment company,&#148; as such term is defined in the Investment Company Act. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-25- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(q) <U>No Offer to Sell</U>. Other than an Issuer Free Writing Prospectus approved in
advance by the Company and the Agent in its capacity as agent hereunder, neither the Agent nor the Company (including its agents and representatives, other than the Agent in its capacity as such) will make, use, prepare, authorize, approve or refer
to any written communication (as defined in Rule 405 under the Securities Act), required to be filed with the Commission, that constitutes an offer to sell or solicitation of an offer to buy Placement Shares hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(r) <U>Blue Sky and Other Qualifications</U><I>. </I>The Company will use its commercially reasonable efforts, in cooperation with the Agent,
to qualify the Placement Shares for offering and sale, or to obtain an exemption for the Placement Shares to be offered and sold, under the applicable securities laws of such states and other jurisdictions (domestic or foreign) as the Agent may
designate and to maintain such qualifications and exemptions in effect for so long as required for the distribution of the Placement Shares (but in no event for less than one year from the date of this Agreement); <I>provided</I>, <I>however</I>,
that the Company shall not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to subject itself to taxation in
respect of doing business in any jurisdiction in which it is not otherwise so subject. In each jurisdiction in which the Placement Shares have been so qualified or exempt, the Company will file such statements and reports as may be required by the
laws of such jurisdiction to continue such qualification or exemption, as the case may be, in effect for so long as required for the distribution of the Placement Shares (but in no event for less than one year from the date of this Agreement). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(s) <U>Sarbanes-Oxley Act</U>. The Company and the Subsidiaries will maintain and keep accurate books and records reflecting their assets and
maintain internal accounting controls in a manner designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted
accounting principles and including those policies and procedures that (i)&nbsp;pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company,
(ii)&nbsp;provide reasonable assurance that transactions are recorded as necessary to permit the preparation of the Company&#146;s consolidated financial statements in accordance with generally accepted accounting principles, (iii)&nbsp;that
receipts and expenditures of the Company are being made only in accordance with management&#146;s and the Company&#146;s directors&#146; authorization, and (iv)&nbsp;provide reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use or disposition of the Company&#146;s assets that could have a material effect on its financial statements. The Company and the Subsidiaries will maintain such controls and other procedures, including, without
limitation, those required by Sections 302 and 906 of the Sarbanes-Oxley Act, and the applicable regulations thereunder that are designed to ensure that information required to be disclosed by the Company in the reports that it files or submits
under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission&#146;s rules and forms, including, without limitation, controls and procedures designed to ensure that information required
to be disclosed by the Company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the Company&#146;s management, including its principal executive officer and principal financial officer, or persons
performing similar functions, as appropriate to allow timely decisions regarding required disclosure and to ensure that material information relating to the Company or the Subsidiaries is made known to them by others within those entities,
particularly during the period in which such periodic reports are being prepared. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(t) <U>Secretary&#146;s Certificate; Further Documentation</U>. Prior to the date of the
first Placement Notice, the Company shall deliver to the Agent a certificate of the Secretary of the Company and attested to by an executive officer of the Company, dated as of such date, certifying as to (i)&nbsp;the Certificate of Incorporation of
the Company, (ii)&nbsp;the <FONT STYLE="white-space:nowrap">By-laws</FONT> of the Company, (iii)&nbsp;the resolutions of the Board of Directors of the Company authorizing the execution, delivery and performance of this Agreement and the issuance of
the Placement Shares and (iv)&nbsp;the incumbency of the officers duly authorized to execute this Agreement and the other documents contemplated by this Agreement. Within five (5)&nbsp;Trading Days of each Representation Date, the Company shall have
furnished to the Agent such further information, certificates and documents as the Agent may reasonably request. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. <U>Payment of
Expenses</U>. The Company will pay all expenses incident to the performance of its obligations under this Agreement, including (i)&nbsp;the preparation and filing of the Registration Statement, including any fees required by the Commission, and the
printing or electronic delivery of the Prospectus as originally filed and of each amendment and supplement thereto, in such number as the Agent shall reasonably deem necessary, (ii)&nbsp;the printing and delivery to the Agent of this Agreement and
such other documents as may be required in connection with the offering, purchase, sale, issuance or delivery of the Placement Shares, (iii)&nbsp;the preparation, issuance and delivery of the certificates, if any, for the Placement Shares to the
Agent, including any stock or other transfer taxes and any capital duties, stamp duties or other duties or taxes payable upon the sale, issuance or delivery of the Placement Shares to the Agent, (iv)&nbsp;the fees and disbursements of the counsel,
accountants and other advisors to the Company, (v)&nbsp;the fees and expenses of Agent including but not limited to the fees and expenses of the counsel to the Agent, payable upon the execution of this Agreement, in an amount not to exceed $50,000,
(vi)&nbsp;the qualification or exemption of the Placement Shares under state securities laws in accordance with the provisions of <U>Section</U><U></U><U>&nbsp;7(r)</U> hereof, including filing fees, but excluding fees of the Agent&#146;s counsel,
(vii)&nbsp;the printing and delivery to the Agent of copies of any Permitted Issuer Free Writing Prospectus and the Prospectus and any amendments or supplements thereto in such number as the Agent shall reasonably deem necessary, (viii)&nbsp;the
preparation, printing and delivery to the Agent of copies of the blue sky survey, (ix)&nbsp;the fees and expenses of the transfer agent and registrar for the Common Stock, (x)&nbsp;the filing and other fees incident to any review by FINRA of the
terms of the sale of the Placement Shares including the fees of the Agent&#146;s counsel (subject to the cap, set forth in clause (v)&nbsp;above), and (xi)&nbsp;the fees and expenses incurred in connection with the listing of the Placement Shares on
the Exchange. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. <U>Conditions to Agent&#146;s Obligations</U>. The obligations of the Agent hereunder with respect to a Placement will
be subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein, to the due performance by the Company of its obligations hereunder, to the completion by the Agent of a due diligence review
satisfactory to it in its reasonable judgment, and to the continuing satisfaction (or waiver by the Agent in its sole discretion) of the following additional conditions: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <U>Registration Statement Effective</U>. The Registration Statement shall have become effective and shall be available for the
(i)&nbsp;resale of all Placement Shares issued to the Agent and not yet sold by the Agent and (ii)&nbsp;sale of all Placement Shares contemplated to be issued by any Placement Notice. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) <U>No Material Notices</U>. None of the following events shall have occurred and be
continuing: (i)&nbsp;receipt by the Company of any request for additional information from the Commission or any other federal or state Governmental Authority during the period of effectiveness of the Registration Statement, the response to which
would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii)&nbsp;the issuance by the Commission or any other federal or state Governmental Authority of any stop order suspending the effectiveness
of the Registration Statement or the initiation of any proceedings for that purpose; (iii)&nbsp;receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Placement
Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv)&nbsp;the occurrence of any event that makes any statement of a material fact made in the Registration Statement or the Prospectus or any
document incorporated or deemed to be incorporated therein by reference untrue or that requires the making of any changes in the Registration Statement, the Prospectus or documents so that, in the case of the Registration Statement, it will not
contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading and, that in the case of the Prospectus, it will not contain an untrue
statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) <U>No Misstatement or Material Omission</U>. Agent shall not have advised the Company that the Registration Statement or Prospectus, or
any amendment or supplement thereto, contains an untrue statement of fact that in the Agent&#146;s reasonable opinion is material, or omits to state a fact that in the Agent&#146;s reasonable opinion is material and is required to be stated therein
or is necessary to make the statements therein not misleading. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) <U>Material Changes</U>. Except as contemplated in the Prospectus, or
disclosed in the Company&#146;s reports filed with the Commission, there shall not have been any material adverse change in the authorized capital stock of the Company or any Material Adverse Effect or any development that would reasonably be
expected to cause a Material Adverse Effect, or a downgrading in or withdrawal of the rating assigned to any of the Company&#146;s securities (other than asset backed securities) by any rating organization or a public announcement by any rating
organization that it has under surveillance or review its rating of any of the Company&#146;s securities (other than asset backed securities), the effect of which, in the case of any such action by a rating organization described above, in the
reasonable judgment of the Agent (without relieving the Company of any obligation or liability it may otherwise have), is so material as to make it impracticable or inadvisable to proceed with the offering of the Placement Shares on the terms and in
the manner contemplated in the Prospectus. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) <U>Legal Opinions</U>. The Agent shall have received the opinions of Company Counsel
required to be delivered pursuant to <U>Section</U><U></U><U>&nbsp;7(m)</U> on or before the date on which such delivery of such opinions is required pursuant to <U>Section</U><U></U><U>&nbsp;7(m)</U>. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(f) <U>Comfort Letter</U>. The Agent shall have received the Comfort Letter required to be
delivered pursuant to <U>Section</U><U></U><U>&nbsp;7(n)</U> on or before the date on which such delivery of such Comfort Letter is required pursuant to <U>Section</U><U></U><U>&nbsp;7(n)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(g) <U>Representation Certificate</U>. The Agent shall have received the certificate required to be delivered pursuant to
<U>Section</U><U></U><U>&nbsp;7(l)</U> on or before the date on which delivery of such certificate is required pursuant to <U>Section</U><U></U><U>&nbsp;7(l)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(h) <U>No Suspension</U>. Trading in the Common Stock shall not have been suspended on the Exchange and the Common Stock shall not have been
delisted from the Exchange. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) <U>Other Materials</U>. On each date on which the Company is required to deliver a certificate pursuant
to <U>Section</U><U></U><U>&nbsp;7(l)</U>, the Company shall have furnished to the Agent such appropriate further information, opinions, certificates, letters and other documents as the Agent may reasonably request. All such opinions, certificates,
letters and other documents will be in compliance with the provisions hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(j) <U>Securities Act Filings Made</U>. All filings with
the Commission required by Rule 424 under the Securities Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such filing by Rule 424. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(k) <U>Approval for Listing</U>. The Placement Shares shall either have been (i)&nbsp;approved for listing on the Exchange, subject only to
notice of issuance, or (ii)&nbsp;the Company shall have filed an application for listing of the Placement Shares on the Exchange at, or prior to, the issuance of any Placement Notice and the Exchange shall have reviewed such application and not
provided any objections thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(l) <U>FINRA</U>. If applicable, FINRA shall have raised no objection to the terms of this offering and
the amount of compensation allowable or payable to the Agent as described in the Prospectus. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(m) <U>No Termination Event</U>. There shall
not have occurred any event that would permit the Agent to terminate this Agreement pursuant to <U>Section</U><U></U><U>&nbsp;12(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. <U>Indemnification and Contribution</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <U>Company Indemnification</U>. The Company agrees to indemnify and hold harmless the Agent, its affiliates and their respective partners,
members, directors, officers, employees and agents and each person, if any, who controls the Agent or any affiliate within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, joint or several, arising out of or based upon
any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to
make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact included in any related Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto), or
the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) against any and all loss, liability, claim, damage and expense whatsoever, as
incurred, joint or several, to the extent of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any Governmental Authority, commenced or threatened, or of any claim whatsoever based upon any such untrue
statement or omission, or any such alleged untrue statement or omission; <I>provided</I> that (subject to <U>Section</U><U></U><U>&nbsp;10(d)</U> below) any such settlement is effected with the written consent of the Company, which consent shall not
unreasonably be delayed or withheld; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) against any and all expense whatsoever, as incurred (including the reasonable fees and
disbursements of counsel), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any Governmental Authority, commenced or threatened, or any claim whatsoever based upon any such
untrue statement or omission, or any such alleged untrue statement or omission (whether or not a party), to the extent that any such expense is not paid under (i)&nbsp;or (ii)&nbsp;above, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>, <I>however</I>, that this indemnity agreement shall not apply to any loss, liability, claim, damage or expense to the extent arising out of
any untrue statement or omission or alleged untrue statement or omission made solely in reliance upon and in conformity with the Agent Information (as defined below). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) <U>Agent Indemnification</U>. Agent agrees to indemnify and hold harmless the Company and its directors and each officer of the Company
who signed the Registration Statement, and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act against any and all loss, liability, claim, damage and
expense described in the indemnity contained in <U>Section</U><U></U><U>&nbsp;10(a)</U>, as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or any
amendments thereto), the Prospectus (or any amendment or supplement thereto) or any Issuer Free Writing Prospectus (or any amendment or supplement thereto) in reliance upon and in conformity with information relating to the Agent and furnished to
the Company in writing by the Agent expressly for use therein. The Company hereby acknowledges that the only information that the Agent has furnished to the Company expressly for use in the Registration Statement, the Prospectus or any Issuer Free
Writing Prospectus (or any amendment or supplement thereto) are the statements set forth in the eighth and ninth paragraphs under the caption &#147;Plan of Distribution&#148; in the Prospectus (the &#147;<B><U>Agent Information</U></B>&#148;). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) <U>Procedure</U>. Any party that proposes to assert the right to be indemnified under
this <U>Section</U><U></U><U>&nbsp;10</U> will, promptly after receipt of notice of commencement of any action against such party in respect of which a claim is to be made against an indemnifying party or parties under this
<U>Section</U><U></U><U>&nbsp;10</U>, notify each such indemnifying party of the commencement of such action, enclosing a copy of all papers served, but the omission so to notify such indemnifying party will not relieve the indemnifying party from
(i)&nbsp;any liability that it might have to any indemnified party otherwise than under this <U>Section</U><U></U><U>&nbsp;10</U> and (ii)&nbsp;any liability that it may have to any indemnified party under the foregoing provision of this
<U>Section</U><U></U><U>&nbsp;10</U> unless, and only to the extent that, such omission results in the forfeiture of substantive rights or defenses by the indemnifying party. If any such action is brought against any indemnified party and it
notifies the indemnifying party of its commencement, the indemnifying party will be entitled to participate in and, to the extent that it elects by delivering written notice to the indemnified party promptly after receiving notice of the
commencement of the action from the indemnified party, jointly with any other indemnifying party similarly notified, to assume the defense of the action, with counsel reasonably satisfactory to the indemnified party, and after notice from the
indemnifying party to the indemnified party of its election to assume the defense, the indemnifying party will not be liable to the indemnified party for any other legal expenses except as provided below and except for the reasonable costs of
investigation subsequently incurred by the indemnified party in connection with the defense. The indemnified party will have the right to employ its own counsel in any such action, but the fees, expenses and other charges of such counsel will be at
the expense of such indemnified party unless (1)&nbsp;the employment of counsel by the indemnified party has been authorized in writing by the indemnifying party, (2)&nbsp;the indemnified party has reasonably concluded (based on advice of counsel)
that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, (3)&nbsp;a conflict or potential conflict exists (based on advice of counsel to the
indemnified party) between the indemnified party and the indemnifying party (in which case the indemnifying party will not have the right to direct the defense of such action on behalf of the indemnified party) or (4)&nbsp;the indemnifying party has
not in fact employed counsel to assume the defense of such action or counsel reasonably satisfactory to the indemnified party, in each case, within a reasonable time after receiving notice of the commencement of the action; in each of which cases
the reasonable fees, disbursements and other charges of counsel will be at the expense of the indemnifying party or parties. It is understood that the indemnifying party or parties shall not, in connection with any proceeding or related proceedings
in the same jurisdiction, be liable for the reasonable fees, disbursements and other charges of more than one separate firm (plus local counsel) admitted to practice in such jurisdiction at any one time for all such indemnified party or parties. All
such fees, disbursements and other charges will be reimbursed by the indemnifying party promptly as they are incurred. An indemnifying party will not, in any event, be liable for any settlement of any action or claim effected without its written
consent. No indemnifying party shall, without the prior written consent of each indemnified party, settle or compromise or consent to the entry of any judgment in any pending or threatened claim, action or proceeding relating to the matters
contemplated by this <U>Section</U><U></U><U>&nbsp;10</U> (whether or not any indemnified party is a party thereto), unless such settlement, compromise or consent (1)&nbsp;includes an express and unconditional release of each indemnified party, in
form and substance reasonably satisfactory to such indemnified party, from all liability arising out of such litigation, investigation, proceeding or claim and (2)&nbsp;does not include a statement as to or an admission of fault, culpability or a
failure to act by or on behalf of any indemnified party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) <U>Settlement Without Consent if Failure to Reimburse</U><I>. </I>If an
indemnified party shall have requested an indemnifying party to reimburse the indemnified party for reasonable fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by
<U>Section</U><U></U><U>&nbsp;10(a)(ii)</U> effected without its written consent if (1)&nbsp;such settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid request, (2)&nbsp;such indemnifying party shall
have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into and (3)&nbsp;such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date
of such settlement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-31- </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) <U>Contribution</U>. In order to provide for just and equitable contribution in
circumstances in which the indemnification provided for in the foregoing paragraphs of this <U>Section</U><U></U><U>&nbsp;10</U> is applicable in accordance with its terms but for any reason is held to be unavailable or insufficient from the Company
or the Agent, the Company and the Agent will contribute to the total losses, claims, liabilities, expenses and damages (including any investigative, legal and other expenses reasonably incurred in connection with, and any amount paid in settlement
of, any action, suit or proceeding or any claim asserted) to which the Company and the Agent may be subject in such proportion as shall be appropriate to reflect the relative benefits received by the Company on the one hand and the Agent on the
other hand. The relative benefits received by the Company on the one hand and the Agent on the other hand shall be deemed to be in the same proportion as the total net proceeds from the sale of the Placement Shares (before deducting expenses)
received by the Company bear to the total compensation received by the Agent from the sale of Placement Shares on behalf of the Company. If, but only if, the allocation provided by the foregoing sentence is not permitted by applicable law, the
allocation of contribution shall be made in such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence but also the relative fault of the Company, on the one hand, and the Agent, on the other
hand, with respect to the statements or omission that resulted in such loss, claim, liability, expense or damage, or action in respect thereof, as well as any other relevant equitable considerations with respect to such offering. Such relative fault
shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or the Agent, the
intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Agent agree that it would not be just and equitable if contributions pursuant to this
<U>Section</U><U></U><U>&nbsp;10(e)</U> were to be determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein. The amount paid or payable by an indemnified
party as a result of the loss, claim, liability, expense, or damage, or action in respect thereof, referred to above in this <U>Section</U><U></U><U>&nbsp;10(e)</U> shall be deemed to include, for the purpose of this
<U>Section</U><U></U><U>&nbsp;10(e)</U>, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim to the extent consistent with
<U>Section</U><U></U><U>&nbsp;10(c)</U> hereof. Notwithstanding the foregoing provisions of this <U>Section</U><U></U><U>&nbsp;10(e)</U>, the Agent shall not be required to contribute any amount in excess of the commissions received by it under this
Agreement and no person found guilty of fraudulent misrepresentation (within the meaning of <U>Section</U><U></U><U>&nbsp;11(f)</U> of the Securities Act) will be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this <U>Section</U><U></U><U>&nbsp;10(e)</U>, any person who controls a party to this Agreement within the meaning of the Securities Act, any affiliates of the Agent and any officers, directors, partners, employees
or agents of the Agent or any of its affiliates, will have the same rights to contribution as that party, and each director of the Company and each officer of the Company who signed the Registration Statement will have the same rights to
contribution as the Company, subject in each case to the provisions hereof. Any party entitled to contribution, promptly after receipt of notice of commencement of any action against such party in respect of which a claim for contribution may be
made under this <U>Section</U><U></U><U>&nbsp;10(e)</U>, will notify any such party or parties from whom contribution may be sought, but the omission to so notify will not relieve that party or parties from whom contribution may be sought from any
other obligation it or they may have under this <U>Section</U><U></U><U>&nbsp;10(e)</U> except to the extent that the failure to so notify such other party materially prejudiced the substantive rights or defenses of the party from whom contribution
is sought. Except for a settlement entered into pursuant to the last sentence of <U>Section</U><U></U><U>&nbsp;10(c)</U> hereof, no party will be liable for contribution with respect to any action or claim settled without its written consent if such
consent is required pursuant to <U>Section</U><U></U><U>&nbsp;10(c)</U> hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-32- </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11. <U>Representations and Agreements to Survive Delivery</U>. The indemnity and
contribution agreements contained in <U>Section</U><U></U><U>&nbsp;10</U> of this Agreement and all representations and warranties of the Company herein or in certificates delivered pursuant hereto shall survive, as of their respective dates,
regardless of (i)&nbsp;any investigation made by or on behalf of the Agent, any controlling persons, or the Company (or any of their respective officers, directors, employees or controlling persons), (ii)&nbsp;delivery and acceptance of the
Placement Shares and payment therefor or (iii)&nbsp;any termination of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12. <U>Termination</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) The Agent may terminate this Agreement, by notice to the Company, as hereinafter specified at any time (1)&nbsp;if there has been, since
the time of execution of this Agreement or since the date as of which information is given in the Prospectus, any change, or any development or event involving a prospective change, in the condition, financial or otherwise, or in the business,
properties, earnings, results of operations or prospects of the Company and its Subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, which individually or in the aggregate, in the sole judgment of the
Agent is material and adverse and makes it impractical or inadvisable to market the Placement Shares or to enforce contracts for the sale of the Placement Shares, (2)&nbsp;if there has occurred any material adverse change in the financial markets in
the United States or the international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in national or international political, financial or
economic conditions, in each case the effect of which is such as to make it, in the judgment of the Agent, impracticable or inadvisable to market the Placement Shares or to enforce contracts for the sale of the Placement Shares, (3)&nbsp;if trading
in the Common Stock has been suspended or limited by the Commission or the Exchange, or if trading generally on the Exchange has been suspended or limited, or minimum prices for trading have been fixed on the Exchange, (4)&nbsp;if any suspension of
trading of any securities of the Company on any exchange or in the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">over-the-counter</FONT></FONT> market shall have occurred and be continuing, (5)&nbsp;if a major disruption of
securities settlements or clearance services in the United States shall have occurred and be continuing, or (6)&nbsp;if a banking moratorium has been declared by either U.S. Federal or New York authorities. Any such termination shall be without
liability of any party to any other party except that the provisions of <U>Section</U><U></U><U>&nbsp;8</U> (Payment of Expenses), <U>Section</U><U></U><U>&nbsp;10</U> (Indemnification and Contribution), <U>Section</U><U></U><U>&nbsp;11</U>
(Representations and Agreements to Survive Delivery), <U>Section</U><U></U><U>&nbsp;17</U> (Governing Law and Time; Waiver of Jury Trial) and <U>Section</U><U></U><U>&nbsp;18</U> (Consent to Jurisdiction) hereof shall remain in full force and effect
notwithstanding such termination. If the Agent elects to terminate this Agreement as provided in this <U>Section</U><U></U><U>&nbsp;12(a)</U>, the Agent shall provide the required notice as specified in <U>Section</U><U></U><U>&nbsp;13</U>
(Notices). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-33- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) The Company shall have the right, by giving ten (10)&nbsp;days&#146; notice as
hereinafter specified to terminate this Agreement in its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party except that the provisions of
<U>Section</U><U></U><U>&nbsp;8</U>, <U>Section</U><U></U><U>&nbsp;10</U>, <U>Section</U><U></U><U>&nbsp;11</U>, <U>Section</U><U></U><U>&nbsp;17</U> and <U>Section</U><U></U><U>&nbsp;18</U> hereof shall remain in full force and effect
notwithstanding such termination. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) The Agent shall have the right, by giving ten (10)&nbsp;days&#146; notice as hereinafter specified
to terminate this Agreement in its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party except that the provisions of <U>Section</U><U></U><U>&nbsp;8</U>,
<U>Section</U><U></U><U>&nbsp;10</U>, <U>Section</U><U></U><U>&nbsp;11</U>, <U>Section</U><U></U><U>&nbsp;17</U> and <U>Section</U><U></U><U>&nbsp;18</U> hereof shall remain in full force and effect notwithstanding such termination. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) This Agreement shall remain in full force and effect unless terminated pursuant to <U>Sections 12(a)</U>, <U>(b)</U>, or
<U>(c)</U>&nbsp;above or otherwise by mutual agreement of the parties; <I>provided</I>, <I>however</I>, that any such termination by mutual agreement shall in all cases be deemed to provide that <U>Section</U><U></U><U>&nbsp;8</U>,
<U>Section</U><U></U><U>&nbsp;10</U>, <U>Section</U><U></U><U>&nbsp;11</U>, <U>Section</U><U></U><U>&nbsp;17</U> and <U>Section</U><U></U><U>&nbsp;18</U> shall remain in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) Any termination of this Agreement shall be effective on the date specified in such notice of termination; <I>provided</I>, <I>however</I>,
that such termination shall not be effective until the close of business on the date of receipt of such notice by the Agent or the Company, as the case may be. If such termination shall occur prior to the Settlement Date for any sale of Placement
Shares, such Placement Shares shall settle in accordance with the provisions of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13. <U>Notices</U>. All notices or other
communications required or permitted to be given by any party to any other party pursuant to the terms of this Agreement shall be in writing, unless otherwise specified, and if sent to the Agent, shall be delivered to: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="9%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="89%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Cantor Fitzgerald&nbsp;&amp; Co.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">499 Park Avenue</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">New York, NY 10022</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attention:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Capital Markets</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Facsimile:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">(212) <FONT STYLE="white-space:nowrap">307-3730</FONT></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">and: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="9%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="89%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Cantor Fitzgerald&nbsp;&amp; Co.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">499 Park Avenue</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">New York, NY 10022</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attention:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">General Counsel</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Facsimile:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">(212) <FONT STYLE="white-space:nowrap">829-4708</FONT></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">with a copy to: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD WIDTH="9%"></TD>

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<TD WIDTH="89%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Cooley LLP</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">55 Hudson Yards</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">New York, NY 10001-2157</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attention:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Daniel I. Goldberg, Esq.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Email: dgoldberg@cooley.com</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Facsimile:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">(212) <FONT STYLE="white-space:nowrap">479-6275</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-34- </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">and if to the Company, shall be delivered to: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="89%"></TD></TR>

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<TD VALIGN="top" COLSPAN="3">Delcath Systems, Inc.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">1633 Broadway, Suite 22C</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">New York, NY 10019</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attention:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Interim Chief Executive Officer</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Email: <U>jpurpura@delcath.com</U></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Facsimile:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">(212) <FONT STYLE="white-space:nowrap">489-2102</FONT></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">with a copy to: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="9%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="89%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">McCarter&nbsp;&amp; English LLP</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">4 Gateway Center</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">100 Mulberry Street</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Newark, NJ 07102</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attention:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">David Broderick, Esq.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Email: <U>dbroderick@mccarter.com</U></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Facsimile:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">(973) <FONT STYLE="white-space:nowrap">624-7070</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each party to this Agreement may change such address for notices by sending to the parties to this Agreement
written notice of a new address for such purpose. Each such notice or other communication shall be deemed given (i)&nbsp;when delivered personally or by verifiable facsimile or email transmission (with an original to follow) on or before
4:30&nbsp;p.m., New York City time, on a Business Day or, if such day is not a Business Day, on the next succeeding Business Day, (ii)&nbsp;on the next Business Day after timely delivery to a nationally-recognized overnight courier and (iii)&nbsp;on
the Business Day actually received if deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid). For purposes of this Agreement, &#147;<B><U>Business Day</U></B>&#148; shall mean any day on which the
Exchange and commercial banks in the City of New York are open for business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">An electronic communication (&#147;<B><U>Electronic
Notice</U></B>&#148;) shall be deemed written notice for purposes of this Section&nbsp;13 if sent to the electronic mail address specified by the receiving party under separate cover. Electronic Notice shall be deemed received at the time the party
sending Electronic Notice receives verification of receipt by the receiving party. Any party receiving Electronic Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form (&#147;<B><U>Nonelectronic
Notic</U></B><B>e</B>&#148;) which shall be sent to the requesting party within ten (10)&nbsp;days of receipt of the written request for Nonelectronic Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14. <U>Successors and Assigns</U>. This Agreement shall inure to the benefit of and be binding upon the Company and the Agent and their
respective successors and the parties referred to in Section&nbsp;10 hereof. References to any of the parties contained in this Agreement shall be deemed to include the successors and permitted assigns of such party. Nothing in this Agreement,
express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and permitted assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly
provided in this Agreement. Neither party may assign its rights or obligations under this Agreement without the prior written consent of the other party; <I>provided</I>, <I>however</I>, that the Agent may assign its rights and obligations hereunder
to an affiliate thereof without obtaining the Company&#146;s consent. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-35- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">15. <U>Adjustments for Stock Splits</U>. The parties acknowledge and agree that all
share-related numbers contained in this Agreement shall be adjusted to take into account any stock split, stock dividend or similar event effected with respect to the Placement Shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">16. <U>Entire Agreement; Amendment; Severability; Waiver</U>. This Agreement (including all schedules and exhibits attached hereto and
Placement Notices issued pursuant hereto) constitutes the entire agreement and supersedes all other prior and contemporaneous agreements and undertakings, both written and oral, among the parties hereto with regard to the subject matter hereof.
Neither this Agreement nor any term hereof may be amended except pursuant to a written instrument executed by the Company and the Agent. In the event that any one or more of the provisions contained herein, or the application thereof in any
circumstance, is held invalid, illegal or unenforceable as written by a court of competent jurisdiction, then such provision shall be given full force and effect to the fullest possible extent that it is valid, legal and enforceable, and the
remainder of the terms and provisions herein shall be construed as if such invalid, illegal or unenforceable term or provision was not contained herein, but only to the extent that giving effect to such provision and the remainder of the terms and
provisions hereof shall be in accordance with the intent of the parties as reflected in this Agreement. No implied waiver by a party shall arise in the absence of a waiver in writing signed by such party. No failure or delay in exercising any right,
power, or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any right, power, or privilege hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">17. <B><U>GOVERNING LAW AND TIME; WAIVER OF JURY TRIAL</U></B><B>.</B><B> THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS. SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME.</B><B> EACH PARTY HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL
RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">18. <B><U>CONSENT TO JURISDICTION</U></B><B>. EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL
COURTS SITTING IN THE CITY OF NEW YORK, BOROUGH OF MANHATTAN, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH ANY TRANSACTION CONTEMPLATED HEREBY, AND HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT, ACTION OR
PROCEEDING, ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT, THAT SUCH SUIT, ACTION OR PROCEEDING IS BROUGHT IN AN INCONVENIENT FORUM OR THAT THE VENUE OF SUCH SUIT, ACTION OR PROCEEDING IS IMPROPER. EACH PARTY
HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF (CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED) TO SUCH PARTY AT THE ADDRESS IN
EFFECT FOR NOTICES TO IT UNDER THIS AGREEMENT AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY
MANNER PERMITTED BY LAW.</B> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-36- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">19. <U>Counterparts</U>. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile or electronic transmission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">20. <U>Construction</U>. The section and exhibit&nbsp;headings herein are for convenience only and shall not affect the construction hereof.
References herein to any law, statute, ordinance, code, regulation, rule or other requirement of any Governmental Authority shall be deemed to refer to such law, statute, ordinance, code, regulation, rule or other requirement of any Governmental
Authority as amended, reenacted, supplemented or superseded in whole or in part and in effect from time to time and also to all rules and regulations promulgated thereunder.<U> </U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">21. <U>Permitted Free Writing Prospectuses</U>. The Company represents, warrants and agrees that, unless it obtains the prior written consent
of the Agent, and the Agent represents, warrants and agrees that, unless it obtains the prior written consent of the Company, it has not made and will not make any offer relating to the Placement Shares that would constitute an Issuer Free Writing
Prospectus, or that would otherwise constitute a &#147;free writing prospectus,&#148; as defined in Rule&nbsp;405, required to be filed with the Commission. Any such free writing prospectus consented to by the Agent or by the Company, as the case
may be, is hereinafter referred to as a &#147;Permitted Free Writing Prospectus.&#148; The Company represents and warrants that it has treated and agrees that it will treat each Permitted Free Writing Prospectus as an &#147;issuer free writing
prospectus,&#148; as defined in Rule&nbsp;433, and has complied and will comply with the requirements of Rule&nbsp;433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission where required, legending and
record keeping. For the purposes of clarity, the parties hereto agree that all free writing prospectuses, if any, listed in <U>Exhibit</U><U></U><U>&nbsp;21</U> hereto are Permitted Free Writing Prospectuses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">22. <U>Absence of Fiduciary Relationship</U>. The Company acknowledges and agrees that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) the Agent is acting solely as agent in connection with the public offering of the Placement Shares and in connection with each transaction
contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates, stockholders (or other equity holders), creditors or employees or any
other party, on the one hand, and the Agent, on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether or not the Agent has advised or is advising the Company on
other matters, and the Agent has no obligation to the Company with respect to the transactions contemplated by this Agreement except the obligations expressly set forth in this Agreement; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-37- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) it is capable of evaluating and understanding, and understands and accepts, the terms,
risks and conditions of the transactions contemplated by this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) neither the Agent nor its affiliates have provided any
legal, accounting, regulatory or tax advice with respect to the transactions contemplated by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) it is aware that the Agent and its affiliates are engaged in a broad range of transactions which may involve interests that differ from
those of the Company and the Agent and its affiliates have no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) it waives, to the fullest extent permitted by law, any claims it may have against the Agent or its affiliates for breach of fiduciary duty
or alleged breach of fiduciary duty in connection with the sale of Placement Shares under this Agreement and agrees that the Agent and its affiliates shall not have any liability (whether direct or indirect, in contract, tort or otherwise) to it in
respect of such a fiduciary duty claim or to any person asserting a fiduciary duty claim on its behalf or in right of it or the Company, employees or creditors of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">23. <U>Definitions</U>. As used in this Agreement, the following terms have the respective meanings set forth below: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B><U>Applicable Time</U></B>&#148; means (i)&nbsp;each Representation Date, (ii)&nbsp;the time of each sale of any Placement Shares
pursuant to this Agreement and (iii)&nbsp;each Settlement Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B><U>Governmental Authority</U></B>&#148;<B> </B>means
(i)&nbsp;any federal, provincial, state, local, municipal, national or international government or governmental authority, regulatory or administrative agency, governmental commission, department, board, bureau, agency or instrumentality, court,
tribunal, arbitrator or arbitral body (public or private); (ii) any self-regulatory organization; or (iii)&nbsp;any political subdivision of any of the foregoing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B><U>Issuer Free Writing Prospectus</U></B>&#148; means any &#147;issuer free writing prospectus,&#148; as defined in Rule&nbsp;433,
relating to the Placement Shares that (1)&nbsp;is required to be filed with the Commission by the Company, (2)&nbsp;is a &#147;road show&#148; that is a &#147;written communication&#148; within the meaning of Rule&nbsp;433(d)(8)(i) whether or not
required to be filed with the Commission, or (3)&nbsp;is exempt from filing pursuant to Rule&nbsp;433(d)(5)(i) because it contains a description of the Placement Shares or of the offering that does not reflect the final terms, in each case in the
form filed or required to be filed with the Commission or, if not required to be filed, in the form retained in the Company&#146;s records pursuant to Rule 433(g) under the Securities Act Regulations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B><U>Rule 164</U></B>,&#148; &#147;<B><U>Rule 172</U></B>,&#148; &#147;<B><U>Rule 405</U></B>,&#148; &#147;<B><U>Rule
415</U></B>,&#148; &#147;<B><U>Rule 424</U></B>,&#148; &#147;<B><U>Rule</U></B><B><U></U></B><B><U>&nbsp;424(b)</U></B>,&#148; &#147;<B><U>Rule</U></B><B><U></U></B><B><U>&nbsp;430B</U></B>,&#148; and
&#147;<B><U>Rule</U></B><B><U></U></B><B><U>&nbsp;433</U></B>&#148; refer to such rules under the Securities Act Regulations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All
references in this Agreement to financial statements and schedules and other information that is &#147;contained,&#148; &#147;included&#148; or &#147;stated&#148; in the Registration Statement or the Prospectus (and all other references of like
import) shall be deemed to mean and include all such financial statements and schedules and other information that is incorporated by reference in the Registration Statement or the Prospectus, as the case may be. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-38- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references in this Agreement to the Registration Statement, the Prospectus or any
amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission pursuant to EDGAR; all references in this Agreement to any Issuer Free Writing Prospectus (other than any Issuer Free Writing Prospectuses
that, pursuant to Rule&nbsp;433, are not required to be filed with the Commission) shall be deemed to include the copy thereof filed with the Commission pursuant to EDGAR; and all references in this Agreement to &#147;supplements&#148; to the
Prospectus shall include, without limitation, any supplements, &#147;wrappers&#148; or similar materials prepared in connection with any offering, sale or private placement of any Placement Shares by the Agent outside of the United States. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[<B><I>Signature Page Follows</I></B>] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-39- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the foregoing correctly sets forth the understanding between the Company and the Agent,
please so indicate in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement between the Company and the Agent. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD WIDTH="12%"></TD>

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<TD WIDTH="79%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">DELCATH SYSTEMS, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ John Purpura</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">John Purpura</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Interim Chief Executive Officer</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">ACCEPTED as of the date first-above written:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CANTOR FITZGERALD&nbsp;&amp; CO.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-bottom:1pt; margin-top:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Bala Murty</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Bala Murty</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title: Chief Operating Officer, Investment Banking</TD></TR>
</TABLE></DIV>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 1 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Form of Placement Notice </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD WIDTH="91%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">From:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delcath Systems, Inc.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">To:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Cantor Fitzgerald&nbsp;&amp; Co.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">499 Park Avenue</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">New York, NY 10022</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Attention: Sameer Vasudev</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Email: [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Facsimile: (212) <FONT STYLE="white-space:nowrap">307-3730</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Subject:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Placement Notice</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">[&#9679;], 20[&#9679;]</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the terms and subject to the conditions contained in the Sales Agreement between Delcath Systems, Inc., a Delaware corporation
(the &#147;<B><U>Company</U></B>&#148;), and Cantor Fitzgerald&nbsp;&amp; Co. (&#147;<B><U>Agent</U></B>&#148;), dated August 18, 2020, the Company hereby requests that the Agent sell up to [&#9679;] of the Company&#146;s common stock, par value
$0.01 per share, at a minimum market price of $[&#9679;] per share, during the time period beginning [month, day, time] and ending [month, day, time]. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 2 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Compensation </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company
shall pay to the Agent in cash, upon each sale of Placement Shares pursuant to this Agreement, an amount equal to 3.0% of the aggregate gross proceeds from each sale of Placement Shares. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 3 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Notice Parties </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>The Company </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Christine Padula (cpadula@delcath.com) </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>The Agent </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sameer Vasudev (svasudev@cantor.com) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With copies to: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CFControlledEquityOffering@cantor.com </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 4 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Subsidiaries </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Incorporated by reference to
Exhibit 21 of the Company&#146;s most recently filed Form <FONT STYLE="white-space:nowrap">10-K.</FONT> </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Exhibit 21 </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Permitted Free Writing Prospectus </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">None.
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<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>d12408dex51.htm
<DESCRIPTION>EX-5.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 5.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">McCarter&nbsp;&amp;&nbsp;English,&nbsp;LLP</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Four Gateway Center</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 Mulberry Street</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Newark,&nbsp;NJ&nbsp;07102-4056</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">T. 973.622.4444</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">F. 973.624.7070</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">www.mccarter.com</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">August&nbsp;18, 2020 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Delcath
Systems, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1633 Broadway, Suite 22C </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York
10019 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Delcath Systems, Inc. Registration Statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT>
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have acted as counsel to Delcath Systems, Inc., a Delaware corporation (the &#147;<U>Company</U>&#148;) and have been asked to furnish you
our opinion with respect to the offer and sale by the Company of up to an aggregate of $10,000,000 of shares of its common stock, par value $0.01 per share (the &#147;<U>Shares</U>&#148;), pursuant to the Controlled Equity Offering<SUP
STYLE="font-size:85%; vertical-align:top">SM</SUP> Sales Agreement, dated August&nbsp;18, 2020, by and between the Company and&nbsp;Cantor Fitzgerald&nbsp;&amp; Co., as sales agent (the &#147;<U>Sales Agreement</U>&#148;).&nbsp;The Shares are being
offered for sale pursuant to the Company&#146;s effective Registration Statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-227970)</FONT> filed with the Securities and Exchange Commission
(the &#147;<U>Commission</U>&#148;) pursuant to the Securities Act of 1933, as amended (the &#147;<U>Securities Act</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We
understand that the Shares are to be issued by the Company and sold by&nbsp;Cantor Fitzgerald&nbsp;&amp; Co. pursuant to the Sales Agreement, a copy of which has been filed as Exhibit 1.1 to the Company&#146;s Current Report on Form <FONT
STYLE="white-space:nowrap">8-K</FONT> to which this opinion is attached as Exhibit 5.1. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of this letter, we have examined the
representations set forth in the Registration Statement, the Sales Agreement, and the prospectus supplement dated of event date herewith (the &#147;<U>Prospectus Supplement</U>&#148;) relating to the issue and sale of the Shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In our capacity as counsel to the Company in connection with the matters referred to above, we have also examined and relied upon copies of
the following: (i)&nbsp;the Certificate of Incorporation of the Company, as amended, the Amended and Restated <FONT STYLE="white-space:nowrap">By-laws</FONT> of the Company and records of certain of the Company&#146;s corporate proceedings as
reflected in its minute books, (ii)&nbsp;the Registration Statement, (iii)&nbsp;the Prospectus Supplement, (iv)&nbsp;the Sales Agreement and (v)&nbsp;we have also examined and relied upon such other documents and records, instruments and
certificates of public officials, officers and representatives of the Company, and have made such other investigations as we have deemed necessary or appropriate under the circumstances. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In our examination, we have assumed the legal capacity of all natural persons, the genuineness of all signatures, the authenticity of all
documents submitted to us as originals, the conformity to original documents of all documents submitted to us as certified or photostatic copies, and the authenticity of the originals of such documents. As
</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">August 18, 2020 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"> Page
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to certain facts material to this opinion, we have relied upon oral or written statements and representations of officers and other representatives of the Company and public officials, and such
other documents and information as we have deemed necessary or appropriate to enable us to render the opinions expressed below. We have not undertaken any independent investigation to determine the accuracy of any such facts. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Based upon, assuming and subject to the validity of the information provided to us and the representations set forth in the Registration
Statement, the Prospectus Supplement and the Sales Agreement (and in this regard we have assumed that such information and representations given or dated earlier than this opinion letter have remained accurate from such earlier date to the date of
this opinion letter), it is our opinion that (i)&nbsp;the Shares proposed to be sold by the Company, when duly sold, issued and paid for pursuant to, and in the manner contemplated by the Sales Agreement and the Prospectus Supplement included as
part of the Registration Statement, will be, assuming due payment for the Shares, duly authorized, validly issued, fully-paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> and (ii)&nbsp;that the Shares when issued in accordance with the
Registration Statement may be issued without a restrictive legend. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We are qualified to practice law in the State of New York and do not
purport to be experts on any law other than the laws of the State of New York, the General Corporation Law of the State of Delaware and the Federal law of the United States. We express no opinion regarding the Securities Act, or any other federal or
state securities laws or regulations. This opinion letter is limited to the specific legal matters expressly set forth herein and is limited to present statutes, regulations and administrative and judicial interpretations as of the date hereof. We
assume no obligation to revise or supplement this opinion in the event of future changes in such laws or regulations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This opinion is
rendered solely for your benefit and may not be relied upon by any person or entity other than the addressee hereof. Without our prior written consent, except in a legal proceeding regarding the contents hereof, this opinion may not be quoted in
whole or in part or otherwise referred to in any report or document furnished to any person or entity. This opinion is limited to the matters expressly set forth herein, and no opinion is to be implied or may be inferred beyond the matters expressly
so stated. We disclaim any requirement to update this opinion subsequent to the date hereof or to advise you of any change in any matter set forth herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We hereby consent to the filing of this opinion with the Commission as an exhibit to a Current Report on Form
<FONT STYLE="white-space:nowrap">8-K</FONT> (and its incorporation by reference into the Registration Statement) in accordance with the requirements of Item 601(b)(5) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> promulgated under the
Securities Act, and to the use of this firm&#146;s name therein and in the </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">August 18, 2020 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"> Page
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Prospectus Supplement under the caption &#147;Legal Matters.&#148; In giving such consent, we do not hereby admit that we are in the category of persons whose consent is required under
Section&nbsp;7 of the Securities Act or the rules and regulations of the Commission thereunder. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top">MCCARTER&nbsp;&amp; ENGLISH, LLP</TD></TR>
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<TD VALIGN="top"><I>/s/ McCarter&nbsp;&amp; English, LLP</I></TD></TR>
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<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>4
<FILENAME>d12408dex232.htm
<DESCRIPTION>EX-23.2
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 23.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM&#146;S CONSENT</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We consent to the incorporation by reference in the Registration Statement of Delcath Systems, Inc. and Subsidiaries (the &#147;Company&#148;) on Form S-3
[File No. 333-227970], into which this Form 8-K is incorporated by reference, of our report dated March 25, 2020, which includes an explanatory paragraph as to the Company&#146;s ability to continue as a going concern, with respect to our audits of
the consolidated financial statements of Delcath Systems, Inc. and Subsidiaries as of December 31, 2019 and 2018 and for the years ended December 31, 2019 and 2018, appearing in the Annual Report on Form 10-K of Delcath Systems, Inc. and
Subsidiaries for the year ended December 31, 2019. We also consent to the reference to our firm under the heading &#147;Experts&#148; in the Prospectus, which is part of the Registration Statement. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ Marcum <SMALL>LLP</SMALL> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Marcum <SMALL>LLP</SMALL> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">NEW YORK, NY </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">AUGUST 18, 2020 </P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
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<TYPE>EX-99.1
<SEQUENCE>5
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LIMITED WAIVER </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Limited Waiver,
dated July&nbsp;10, 2020 (this &#147;<B><I>Agreement</I></B>&#148;), is to provide for a limited waiver of certain provisions of that certain Support and Conversion Agreement dated March&nbsp;11, 2020, as amended by the Amendment dated April&nbsp;8
2020 (the &#147;<B><I>Support and Conversion Agreement</I></B>&#148;), by and among Delcath Systems, Inc. (&#147;<B><I>Delcath</I></B>&#148;), certain executives of Delcath, and Rosalind Master Fund L.P. and Rosalind Opportunities Fund I L.P.
(collectively, &#147;<B><I>Rosalind</I></B>&#148;). Delcath and Rosalind may be referred to herein individually or collectively as the &#147;<B><I>Parties</I></B>&#148;. Capitalized terms used but not defined herein shall have the meaning given such
terms in the Support and Conversion Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to Section&nbsp;5 of the Support and Conversion Agreement, the Parties agreed that, among other
things, during the period ending on the second anniversary of the Closing of the Offering (the &#147;<B><I>Tail Period</I></B>&#148;), Delcath shall offer to Rosalind the opportunity to participate in any Financing (the &#147;<B><I>Participation
Provisions</I></B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Delcath now proposes to engage Cantor Fitzgerald&nbsp;&amp; Co to serve as placement agent in connection with one or more
&#147;at the money&#148; Financings in an aggregate amount of up to $10,000,000, subject to increase (the &#147;<B><I>Proposed Financing</I></B>&#148;), and seeks to have Rosalind waive the Participation Provisions in the Support and Conversion
Agreement solely with respect to the Proposed Financing. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;1: Limited Waiver </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Rosalind hereby waives the Participation Provisions in connection with the Proposed Financing during the Tail Period. The Parties hereto acknowledge and agree
that, except with respect to the foregoing waiver, the Participation Provisions set forth in the Support and Conversion Agreement remain in full force and effect. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;2: Amendment and Modification </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This
Agreement may not be amended or modified except by a written agreement executed by the Parties and specifically referencing the provisions hereof to be so amended or modified. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;3: Counterparts </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Agreement may be
executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Delivery of such counterpart signature pages by facsimile or other electronic transmission shall be effective
as delivery of an original executed copy of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page Follows] </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the undersigned have executed this Limited Waiver as of the date first
written above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="13%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="78%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>ROSALIND MASTER FUND L.P.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>BY: ROSALIND ADVISORS, INC. - ADVISOR</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Steven Salamon</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Steven Salamon</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>ROSALIND OPPORTUNITIES FUND I L.P.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>BY: ROSALIND ADVISORS, INC. - ADVISOR</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Steven Salamon</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Steven Salamon</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>DELCATH SYSTEMS, INC. </B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ John Purpura</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">John Purpura</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Interim Chief Executive Officer</TD></TR>
</TABLE>
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>6
<FILENAME>d12408dex992.htm
<DESCRIPTION>EX-99.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.2</TITLE>
</HEAD>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>L<SMALL>IMITED</SMALL> W<SMALL>AIVER</SMALL> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Limited Waiver, dated July&nbsp;17, 2020 (this &#147;<B><I>Agreement</I></B>&#148;), is to provide for a limited waiver of certain provisions of those
certain Engagement Letters dated August&nbsp;14, 2019 and January&nbsp;13, 2020 (the &#147;<B><I>Engagement Letters</I></B>&#148;), and the Underwriting Agreement dated May&nbsp;1 2020 (the &#147;<B><I>Underwriting Agreement</I></B>&#148;), between
Delcath Systems, Inc. (&#147;<B><I>Delcath</I></B>&#148;) and ROTH Capital Partners, LLC (&#147;<B><I>ROTH</I></B>&#148;). Delcath and ROTH may be referred to herein individually or collectively as the &#147;<B><I>Parties</I></B>&#148;. Capitalized
terms used but not defined herein shall have the meaning given such terms in the Engagement Letters or the Underwriting Agreement, as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the &#147;Other Business&#148; provisions set forth in Section&nbsp;7 of the Engagement Letters, the Parties agreed that, among other things,
during the period commencing on the Closing Date and ending on the first anniversary of the Closing Date (the &#147;<B><I>Tail Period</I></B>&#148;), Delcath shall offer to ROTH the opportunity to act as placement agent or underwriter with respect
to any additional Financing, and to receive a minimum of 35% of the fees paid to the agents or underwriters for such Financing (the &#147;<B><I>Right of First Refusal Provisions</I></B>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to Section&nbsp;5(a)(xiii) of the Underwriting Agreement, Delcath agreed that it would not, without the prior written consent of ROTH, during the
period ending ninety (90)&nbsp;days after the date of the Underwriting Agreement, offer, pledge, issue, sell, contract to sell, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock (the &#147;<B><I><FONT
STYLE="white-space:nowrap">Lock-Up</FONT> Provisions</I></B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Delcath now proposes to engage Cantor Fitzgerald&nbsp;&amp; Co to serve as placement
agent in connection with one or more &#147;at the money&#148; Financings in an aggregate amount of up to $12,000,000 (the &#147;<B><I>Proposed Financing</I></B>&#148;), and seeks to have ROTH waive the Right of First Refusal Provisions in the
Engagement Letters and the <FONT STYLE="white-space:nowrap">Lock-Up</FONT> Provisions in the Underwriting Agreement solely with respect to the Proposed Financing. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;1: Limited Waiver </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ROTH hereby waives
(a)&nbsp;the Right of First Refusal Provisions in connection with Delcath&#146;s engagement of Cantor Fitzgerald&nbsp;&amp; Co. to serve as placement agent in connection with the Proposed Financing during the Tail Period (<U>provided</U>,
<U>however</U>, that ROTH shall receive a fee equal to 1.05% of the gross sales price per share sold in the Proposed Financing during the Tail Period), and (b)&nbsp;the <FONT STYLE="white-space:nowrap">Lock-Up</FONT> Provisions in connection with
the Proposed Financing,. The Parties hereto acknowledge and agree that, except with respect to the foregoing waiver, the Right of First Refusal Provisions set forth in the Engagement Letters and the <FONT STYLE="white-space:nowrap">Lock-Up</FONT>
Provisions in the Underwriting Agreement remain in full force and effect. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;2: Amendment and Modification </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Agreement may not be amended or modified except by a written agreement executed by the Parties and specifically referencing the provisions hereof to be so
amended or modified. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Section&nbsp;3: Counterparts </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same
instrument. Delivery of such counterpart signature pages by facsimile or other electronic transmission shall be effective as delivery of an original executed copy of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page Follows] </P>
</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the undersigned have executed this Limited Waiver as of the date first
written above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


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<TD WIDTH="78%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>ROTH CAPITAL PARTNERS LLC</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Aaron M. Gurewitz</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Aaron M. Gurewitz</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Head of Equity Capital Markets</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>DELCATH SYSTEMS, INC. </B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ John Purpura</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">John Purpura</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Interim Chief Executive Officer</TD></TR>
</TABLE>
</DIV></Center>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>7
<FILENAME>d12408dex993.htm
<DESCRIPTION>EX-99.3
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.3</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENT TO SECURITIES PURCHASE AGREEMENTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Amendment (the &#147;<U>Amendment</U>&#148;), dated as of August&nbsp;18, 2020, is made to (i)&nbsp;that certain Securities Purchase
Agreement (the &#147;<U>Series E Purchase Agreement</U>&#148;), dated as of July&nbsp;11, 2019, and (ii)&nbsp;that certain Securities Purchase Agreement (the &#147;<U>Series <FONT STYLE="white-space:nowrap">E-1</FONT> Purchase Agreement</U>,&#148;
together with the Series E Purchase Agreement, the &#147;<U>Purchase Agreements</U>&#148;), dated as of August&nbsp;15, 2019, each between Delcath Systems, Inc. (the &#147;<U>Company</U>&#148;) and the purchasers signatories thereto. Capitalized
terms used but not defined herein shall have the meanings ascribed to them in the Purchase Agreements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, pursuant to
Section&nbsp;4.12(b) of the Purchase Agreements, until such time as no Purchaser holds any of the Warrants, the Company is prohibited from effecting or entering into an agreement to effect any issuance by the Company or any of its Subsidiaries of
Common Stock or Common Stock Equivalents (or a combination of units thereof) involving a &#147;Variable Rate Transaction.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, a Variable Rate Transaction is defined in part as &#147;a transaction in which the Company&#133;&#133; (ii)&nbsp;enters into,
or effects a transaction under, any agreement, including, but not limited to, an equity line of credit, whereby the Company may issue securities at a future determined price.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Company is currently considering entering into an &#147;at the market offering&#148; arrangement whereby the Company may,
from time to time, issue shares of Common Stock in the future, at prices to be determined by the Company at such time, and may consider entering into similar arrangements in the future. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS, </B>in order to avoid any potential uncertainty as to whether such arrangements constitute &#147;Variable Rate Transactions&#148;
under the portion of the definition set forth above, the Company desires to amend such definition by removing clause &#147;(ii),&#148; as set forth above, from such definition, while retaining the remainder of the definition. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, pursuant to Section&nbsp;5.5 of the Purchase Agreements, the Purchase Agreements may be amended by the written consent of the
Company and Purchasers representing at least 50.1% in interest of the Securities based on the initial Subscription Amounts purchased under the Purchase Agreements, including Purchasers representing at least 50.1% in interest of the Securities based
on the initial Subscription Amounts purchased under the Series E Purchase Agreement (the &#147;<U>Required Purchasers</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Company and the Required Purchasers desire to amend the definition of &#147;Variable Rate Transactions&#148; in the
Purchase Agreements in the manner set forth above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>NOW</B>, <B>THEREFORE</B>, in consideration of the premises set forth above, and
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: </P>
</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Definition of Variable Rate Transaction</U>. The parties hereby agree the definition
of Variable Rate Transaction in Section&nbsp;4.12(b) of the Purchase Agreements is amended and restated in its entirety to read as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">&#147;Variable Rate Transaction&#148; means a transaction in which the Company issues or sells any debt or equity securities that are
convertible into, exchangeable or exercisable for, or include the right to receive, additional shares of Common Stock either (A)&nbsp;at a conversion price, exercise price or exchange rate or other price that is based upon, and/or varies with, the
trading prices of or quotations for the shares of Common Stock at any time after the initial issuance of such debt or equity securities or (B)&nbsp;with a conversion, exercise or exchange price that is subject to being reset at some future date
after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company or the market for the Common Stock. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Except as expressly set forth above, all of the terms and conditions of the Purchase Agreements shall continue in full force and effect after the execution of
this agreement and shall not be in any way changed, modified or superseded by the terms set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Amendment may be executed in two or more
counterparts and by facsimile or &#147;.pdf&#148; signature or otherwise, and each of such counterparts shall be deemed an original and all of such counterparts together shall constitute one and the same agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>[signature pages follows] </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Amendment is effective as of the date hereof. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD WIDTH="86%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>DELCATH SYSTEMS, INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ John Purpura</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">John Purpura</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Interim CEO</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>[Purchaser signature page follows] </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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<TD WIDTH="69%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">PURCHASER:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Name:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Title:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>[Signature Page to DCTH Amendment] </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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