X0303 4 2009-10-20 0000872912 DELCATH SYSTEMS INC DCTH 0001473233 Kandarpa Krishna 34 SEARS ROAD SOUTHBOROUGH MA 01772 0 1 0 0 Exec. V.P., Chief Medical Off. Common Stock 2009-10-20 4 A 0 200000 0 A 200000 D Stock Option (right to buy) 6.09 2009-10-20 4 A 0 100000 0 A 2019-10-20 Common Stock 100000 100000 D Except as set forth below, the option vests as follows: 4,000 shares on October 20, 2009 and 4,000 shares on each of the first 23 monthly anniversaries of the grant date, October 20, 2009, beginning on November 20, 2009. The vesting will be accelerated if one or more of the following events occur: (a) the Company achieves certain performance objectives set forth in the Stock Option Grant Letter, dated October 20, 2009; (b) the reporting person is subject to "Involuntarily Termination," as defined in the reporting person's employment agreement, after the first anniversary of the grant date; or (c) there is a "Change of Control" as defined in the Delcath Systems, Inc. 2009 Stock Incentive Plan. /s/ Krishna Kandarpa, M.D., Ph.D. 2009-10-22