Document:

Exhibit 10.1

SUBLEASE

          THIS
SUBLEASE (this “Sublease”) is entered into as of this 9th day
of July, 2007, by and between ROCKBAY CAPITAL MANAGEMENT, L.P., a Delaware
limited partnership (“Sublandlord”), and DELCATH SYSTEMS, INC., a
Delaware corporation (“Subtenant”).

RECITALS

          A.
Pursuant to that certain Lease dated as of November 7, 2003 between RCPI
Landmark Properties, L.L.C. a Delaware limited liability (“Master Landlord”),
and Sublandlord’s predecessor-in-interest (the “Original Master Lease”), as amended
by that certain First Amendment to Lease dated as of September 29, 2005 (the “First
Lease Amendment”) and that certain Second Amendment to Lease dated as of
April 5, 2007 (the “Second Lease Amendment”; the Original Master Lease,
as amended by the First Lease Amendment and the Second Lease Amendment, being
referred to herein as the “Master Lease”), Master Landlord leased to
Sublandlord the entire 23rd and 24th floors (the “Master
Lease Premises”) of the building commonly known as 600 Fifth Avenue, New York,
New York (the “Building”).  

          B.
Sublandlord desires to sublease a portion of the Master Lease Premises to
Subtenant and Subtenant desires to sublease a portion of the Master Lease
Premises from Sublandlord, subject to the terms and conditions hereinafter set
forth.

          NOW
THEREFORE, in consideration of the mutual covenants, conditions and agreements
hereinafter contained, the parties hereto hereby agree as follows:

          1. SUBLEASED
PREMISES. Sublandlord hereby subleases to Subtenant and Subtenant
hereby subleases from Sublandlord a portion of the Master Lease Premises,
consisting of Three Thousand Four Hundred (3,400) rentable square feet located,
on the 23rd floor of the Building, as shown as “Space A” on Exhibit
“A” attached hereto (the “Subleased Premises”). The area of the
Subleased Premises will not be measured and the parties agree that the Monthly
Rent shall not be subject to adjustment based on any remeasurement of the
Subleased Premises. In addition, Sublandlord grants to Subtenant the right to
use, on a non-exclusive basis, the elevator lobby on the 23rd Floor
of the Building and the public corridor providing access therefrom to the
Subleased Premises (both of which are included in the Master Lease Premises)
for ingress and egress to and from the Subleased Premises and access to the (i)
core lavatories, (ii) fire stairs, and (iii) base building phone, data and fiber
optic communication equipment (as necessary) and the water column (for purposes
of installing a small pantry, to the extent permitted under the Master Lease)
on the 23rd Floor of the Building for Subtenant’s use on a
non-exclusive basis. 

          2. CONDITION OF SUBLEASED PREMISES.
Subtenant

acknowledges that it has
inspected the Subleased Premises, and is thoroughly familiar with its
condition. Subtenant accepts the Subleased Premises in its “as is” condition,
with all faults and flaws, and acknowledges that neither Sublandlord nor any of
its agents has made any representations or warranties regarding the condition
of the Subleased Premises or its suitability for Subtenant’s intended use. The
Subleased Premises will be delivered on the Commencement Date (defined in
Paragraph 5 below) broom clean and vacant with the common corridor on the 23rd
Floor of the Building having new Building standard paint and all broken ceiling
tiles in such common corridor having been properly replaced. In addition, prior
to or promptly following the Commencement Date, Sublandlord shall install new
Building standard carpet in the common corridor on the 23rd Floor of
the Building.

          3. MASTER LEASE. This Sublease expressly is
subject and subordinate to all of the terms and conditions of the Master Lease,
a copy of which is attached hereto as Exhibit “B” (with certain terms not relevant
to Subtenant redacted), and to all items and matters to which the Master Lease
is subject and subordinate. In addition, Subtenant agrees to be bound, for all
purposes of this Sublease, by any modifications or amendments to the Master
Lease; provided, however, that Sublandlord shall not agree to any modification,
amendment or termination of the Master Lease that could reasonably be expected
to have any material adverse consequences to Subtenant and/or its rights
hereunder. Subtenant assumes and agrees to perform each and every obligation
and to comply with each and every covenant of Sublandlord, as tenant, under the
Master Lease, excluding such provisions of the Master Lease which are not
applicable to Subtenant or the Subleased Premises or as specifically provided
to the contrary in this Sublease (such as, by way of example, the payment to
Master Landlord of rent under the Master Lease, which shall be replaced with
Subtenant’s obligations under Paragraph 6 of this Sublease) (as so limited, the “Applicable Master Lease Terms”).
Each and every waiver by Sublandlord contained in the Applicable Master Lease
Terms in favor of Master Landlord shall be binding on Subtenant. Subtenant
shall not commit or permit to be committed any act or omission which will violate
any term or condition of the Master Lease or constitute a breach of or default
under the Master Lease, and shall indemnify, protect, defend and hold
Sublandlord harmless against any and all loss, cost, expense (including,
without limitation, reasonable attorneys’ fees and disbursements), liability,
claim, judgment, demand or cause of action arising from or in connection with
any such violation, breach or violation committed or permitted to be committed
by Subtenant (except to the extent caused by the willful misconduct or gross
negligence of Sublandlord), which indemnity obligation shall survive the
termination of this Sublease. All capitalized and other terms not otherwise
defined herein shall have the meanings ascribed to them in the Master Lease, unless
the context clearly requires otherwise.

          4. INCORPORATION OF TERMS.
All of the terms and conditions  contained in the Applicable Master Lease
Terms are incorporated herein as terms and

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conditions of this Sublease
(with each reference therein to “Lease” to be deemed to refer to this Sublease,
each reference therein to “Landlord” and “Tenant” to be deemed to refer to
Sublandlord and Subtenant, respectively (other than the references in Sections
10.l(a), 10.1(d) and 10.2 to “Landlord”), each reference therein to the
“Premises”, “Additional Premises” or “Tenant’s Area” to be deemed to refer to
the Subleased Premises, each reference therein to “Interest Rate” to be deemed
to refer to the Specified Rate, each reference therein to “Electrical Inclusion
Factor” to refer to $10,200.00 per annum, which amount is included in Fixed Rent
hereunder (subject to adjustment pursuant to Section 10.1 of the Master Lease,
as incorporated herein by reference), each reference therein to the “Term” to
be deemed to refer to the Term of this Sublease, each reference therein to the
“Commencement Date” or “Additional Premises Commencement Date” to be deemed to
refer to the Commencement Date of this Sublease, and each reference therein to
the “Expiration Date” or “Extended Expiration Date” to be deemed to refer to
the Expiration Date of this Sublease), other than (i) the following definitions
in Article 1– “Rent Commencement Date”, “Tenant’s Address for Notices”,
“Landlord’s Address for Notices” and “Tenant’s Broker”, (ii) Articles 2, 13
(other than Sections 13.7 and 13.8(a)), 22, 24, 27 (as amended by the First
Lease Amendment), 29, 30 (as amended by the First Lease Amendment) and 31,
Sections 6.1, 8.1(c), 8.1(d), 11.5, 25.2, and Exhibits A and D, of the Master
Lease, (iii) Sections 2(a), 3(a), 3(c), 3(d), 3(e)(i), 3(e)(ii), 3(f), 3(g),
4(a), 5, 6, 7 and 8, and Exhibit B, of the First Lease Amendment, (iv) the entire
Second Lease Amendment and (v) any other term of the Applicable Master Lease
Terms that is superceded by the terms hereof and, along with all of the
paragraphs contained in this Sublease, shall be the complete terms and
conditions of this Sublease. To the extent there is a conflict between the
provisions of the Master Lease which are hereby incorporated and the provisions
of this Sublease, the provisions of this Sublease shall prevail unless to do so
would result in a default under the Master Lease, in which case the provisions
of the Master Lease shall control. The Master Lease also includes express
representations made by Master Landlord and describes Master Landlord’s duties
in connection with the operation of the Subleased Premises (including, without
limitation, obligations to render services (such as trash removal, elevators,
HVAC or cleaning), to provide utilities (such as electricity and water) and
insurance, to comply with laws and to make certain repairs, replacements,
restorations, alterations or improvements) (collectively, “Master Landlord’s
Duties”). Notwithstanding anything to the contrary that may be contained in
this Sublease (including, without limitation, any provisions of the Master
Lease incorporated by reference into this Sublease), and for the avoidance of
doubt, Sublandlord is not obligated to perform Master Landlord’s Duties, and
unless caused by Sublandlord’s gross negligence or willful misconduct,
Sublandlord shall not be liable for Master Landlord’s violation of any
provision of the Master Lease or for any misrepresentation by Master Landlord,
nor shall same give rise to any (a) abatement, diminution or reduction of
Subtenant’s obligations under this Sublease, (b) constructive eviction, in
whole or in part, or (c) liability on the part of the Sublandlord, unless
Sublandlord shall be entitled to an abatement, diminution

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or reduction of Sublandlord’s
obligations under the Master Lease, or constructive eviction, in whole or in part, under the Master Lease. If Master
Landlord fails to perform any of such obligations, Subtenant shall notify
Sublandlord, which will promptly notify Master Landlord and demand performance.
If Master Landlord continues to fail to perform, Subtenant may seek recourse
from Master Landlord in its own name or in Sublandlord’s name (but only if and
to the extent required to bar a defense on the basis of a lack of privity or
any other defense or procedural rule that must be complied with to bring such
action); provided, however, that Sublandlord shall have the right to require
Subtenant to discontinue such action if in the reasonable opinion of
Sublandlord such action may cause a cancellation, forfeiture or termination of
the Master Lease; provided further, that Subtenant shall only have such rights
(i) if Subtenant shall not be in default under this Sublease beyond any
applicable notice and cure periods and (ii) if Subtenant is otherwise obligated
under this Sublease to reimburse Sublandlord for all damages, costs, expenses
or losses that may be incurred by Sublandlord in connection therewith in the
event that Sublandlord is subject to liability under the Master Lease as a result
of such efforts. Sublandlord shall reasonably cooperate with Subtenant, at
Subtenant’s expense, in connection with any such action brought by Subtenant;
provided, however, that Sublandlord shall not be required to cooperate to the
extent Sublandlord could be subject to liability under the Master Lease as a
result of such efforts and Subtenant is not otherwise obligated under this
Sublease to reimburse Sublandlord for all damages, costs, expenses or losses
that may be incurred by Sublandlord in connection therewith or such action may
cause a cancellation, forfeiture or termination of the Master Lease. Subtenant
shall indemnify Sublandlord against all expenses, including, without
limitation, reasonable attorneys’ fees and disbursements incurred by Sublandlord
as a result of or in connection with enforcing rights against Master Landlord
on behalf of Subtenant. Sublandlord will cooperate with Subtenant in a
commercially reasonable manner in seeking Master Landlord approvals required
under the Master Lease and in exercising tenant rights; provided, however, that
Sublandlord shall not be required to use commercially reasonable efforts to the
extent Sublandlord could be subject to liability under the Master Lease as a
result of such efforts and Subtenant is not otherwise obligated under this
Sublease to reimburse Sublandlord for all damages,
costs, expenses or losses that may be incurred by Sublandlord in connection
therewith or such action may cause a cancellation, forfeiture or termination of
the Master Lease. Subtenant shall not take any action or do or permit to be
done anything which would result in any additional cost or other liability to
Sublandlord. Sublandlord shall have no liability to Subtenant by reason of the
default of Master Landlord under the Master Lease or for Master Landlord’s
refusal to grant any consent requested by Subtenant, regardless of whether
Master Landlord’s denial to grant such consent is unreasonable.

          5. TERM. The term (the “Term”) of this
Sublease shall commence on the date that Sublandlord delivers to Subtenant a
copy of Master Landlord’s consent to this Sublease, together with possession of
the Subleased Premises in the condition 

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required pursuant to
Paragraph 2 above (the “Commencement Date”) and expire on July 30, 2010 (the
“Expiration Date”), unless terminated sooner pursuant to the terms hereof. When
the actual Commencement Date has been determined, Sublandlord shall deliver to
Subtenant and Sublandlord and Subtenant shall execute, a Commencement Date
Agreement in the form attached hereto as Exhibit “C”, confirming the actual
Commencement Date and Rent Commencement Date (as herein after defined). Subject
to the terms of Paragraph 28 below, if Sublandlord shall be unable to give
possession of the Subleased Premises to Subtenant for any reason, other than
Sublandlord’s failure to perform the work provided in Paragraph 2 above,
Sublandlord shall not be subject to any liability for failure to give
possession and the validity of this Sublease shall not be impaired under such
circumstances, nor shall the same be construed to extend the term of this
Sublease, but the Commencement Date shall be delayed until Sublandlord shall
have delivered possession of the Premises to Subtenant in the condition
required hereunder. The provisions of this Paragraph 5 shall be considered an
express agreement governing any case of Sublandlord’s failure to deliver
possession of the Premises, and any law now or hereafter in force which is
inconsistent with the provisions of this Paragraph 5 shall have no application
in such case.  

          6.
RENT.

          (a) Fixed Rent. Subtenant covenants
and agrees that, during and throughout the entire Term, Subtenant shall pay to
Sublandlord annual fixed rent (“Fixed Rent”) in the amount of Two
Hundred Twenty-One Thousand Dollars ($221,000,00) per annum (consisting of
$10,200 of charges for electrical inclusion and $210,800 of base rent) during
and for the period commencing on the Commencement Date (subject to Section 10.1
of the Master Lease as incorporated herein by reference (as modified by
Paragraph 4 hereof)) and continuing through and including the Expiration Date;
which sums Subtenant covenants and agrees to pay to Sublandlord, in lawful
money of the United States, in equal monthly installments of Eighteen Thousand
Four Hundred Sixteen and 67/100 Dollars ($18,416.67) in advance, on the first
day of each calendar month during the Term, without any deduction, offset,
abatement, defense and/or counterclaim whatsoever, Notwithstanding the above,
Sublandlord hereby waives Subtenant’s obligation to pay Fixed Rent for the
period commencing on the Commencement Date and continuing through and including
the day preceding the two (2) month anniversary of the Commencement Date (the
date of the two month anniversary of the Commencement Date being referred to
herein as the “Rent Commencement Date”), provided that the installment
of Base Rent for the first full calendar month following the Rent Commencement
Date shall be payable upon the execution of this Sublease by Subtenant. The
monthly installment of Fixed Rent payable
on account of any partial calendar month during the Term, if any, shall be
prorated. 

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          (b) Additional Charges. In addition
to the Fixed Rent payable hereunder, Subtenant covenants to pay as additional
rent (“Additional Charges”), without any deduction, offset, abatement,
defense and/or counterclaim whatsoever, an amount equal to Subtenant’s
Proportionate Share of all amounts paid by Sublandlord pursuant to the Master
Lease that relate to the Subleased Premises and the Term, other than “Fixed
Rent” under the Master Lease; provided, however, that with respect to Taxes,
Subtenant shall only be responsible to reimburse Sublandlord for that portion
of Taxes for any Tax Year which exceeds the amount of Taxes for the New York
City real estate tax fiscal year commencing on July 1, 2007 and ending on June
30, 2008, and with respect to Operating Expenses, Subtenant shall only be
responsible to reimburse Sublandlord for that portion of Operating Expenses for
any Comparison Year which exceeds Operating Expenses for calendar year 2007. As
used herein, the term “Subtenant’s Proportionate Share shall mean
43.87%. Subtenant shall pay all Additional Charges directly to Sublandlord on
the respective due dates under the Master Lease for the payment of such
charges. In the event that Additional Charges are due under the Master Lease
with respect to any period that precedes the Commencement Date or follows the
Expiration Date, Subtenant’s obligations hereunder on account of such
Additional Charges shall be appropriately prorated. At the time of requesting
payment of Additional Charges, Sublandlord shall provide Subtenant with
documentation sufficient to substantiate the accuracy and appropriateness of
all Additional Charges invoiced to Subtenant. 

          (c) Miscellaneous. All payments of
Fixed Rent and Additional Charges (Fixed Rent and Additional Charges are
collectively referred to herein as “Rent”) shall be made by good and sufficient
check (subject to collection) currently dated, drawn on a bank which is a
member of the New York Clearing House Association, issued directly from
Subtenant, without endorsements, to the order of Sublandlord and paid to
Sublandlord at the address specified in the Notice paragraph of this Sublease
or at such other place as Sublandlord may from time to time designate in
writing. Any provision in the Master Lease referring to “Fixed Rent” or
“Additional Rent” incorporated herein by reference shall be deemed to refer to
the Fixed Rent and Additional Charges due under this Sublease. Notwithstanding
anything to the contrary contained in this Sublease, all sums of money, other
than Fixed Rent, as shall become due and payable by Subtenant to Sublandlord
under this Sublease shall be deemed to be Additional Charges, and, subject to
applicable notice and cure periods, Sublandlord shall have the same rights and
remedies in the event of non-payment of Additional Charges as are available to
Sublandlord for the non-payment of Fixed Rent.  

          7. LATE CHARGE; INTEREST. Section 15.4 of
the Master Lease shall apply to this Sublease with the substitution of
Sublandlord for Landlord and of Subtenant for Tenant.

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          8. SECURITY.

          (a) Letter of Credit. Subtenant,
simultaneously with the execution of this Sublease, shall deposit with
Sublandlord, as security for the performance of Subtenant’s obligations under
this Sublease, a “clean,” unconditional, irrevocable and transferable letter of
credit which permits multiple, partial draws (the “Letter of Credit”)
that (i) is in the amount of One Hundred Sixty-Five Thousand Seven Hundred
Fifty and 03/100 Dollars ($165,700.03), (ii) is in a form that is reasonably
satisfactory to Landlord, (iii) is issued for a term of not less than one (1) year
but shall be automatically renewable for consecutive periods of one (1) year
thereafter during the Term (but in no event shall it terminate prior to the 45th
day following the Expiration Date), (iv) is issued for the account of
Sublandlord, and (v) is issued by, and drawn on, a bank that has a Standard
& Poor’s rating of at least “AA” (or, if Standard & Poor’s
hereafter ceases the publication of ratings for banks, a rating of a reputable
rating agency as reasonably designated by Sublandlord that most closely
approximates a Standard & Poor’s rating of “AA” as of the date hereof) (the
aforesaid rating of the bank that issues the Letter of Credit being referred to
herein as the “Bank Rating”), and that has an office in the city where
the Subleased Premises is located at which Sublandlord can present the Letter
of Credit for payment. [PLEASE PROVIDE A DRAFT FORM OF L/C FOR SUBLANDLORD’S
REVIEW]  

          (b) Draws upon Letter of Credit. If
Subtenant shall default beyond the expiration of any applicable notice and cure
period with respect to any of the covenants, agreements, terms, provisions and
conditions that shall be the obligation of Subtenant to observe, perform or
keep under the terms of this Sublease, including, without limitation, the
payment of the Fixed Rent, Additional Charges or any other payment for which
Subtenant is responsible hereunder, then Sublandlord may present the Letter of
Credit for payment together with a written statement from Sublandlord that
Subtenant is in default under this Sublease beyond applicable notice and cure
periods and apply the proceeds thereof (i) to the payment of any Rent that then
remains unpaid, and/or (ii) to any damages to which Sublandlord is entitled
hereunder and that Sublandlord incurs by reason of such default. If Sublandlord
so applies any part of the proceeds of the Letter of Credit, then Subtenant,
upon demand, shall provide Sublandlord with a replacement Letter of Credit so
that Sublandlord has the full amount of the required security at all times
during the term hereof. If at any time the Bank Rating of the issuer of the
Letter of Credit is less than “AA” (or, if Standard & Poor’s hereafter
ceases the publication of ratings for banks, the Bank Rating of the issuer of
the Letter of Credit is less than a rating of a reputable rating agency as reasonably designated by Sublandlord that
most closely approximates a Standard & Poor’s rating of “AA” as of the date
hereof) or (ii) the issuer of the Letter of Credit elects to no longer
maintain, or in fact no longer maintains, an office in the city in which the
Subleased Premises is located at which the Letter of Credit can be drawn upon,
then Subtenant shall deliver to Sublandlord a replacement Letter of Credit, 

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issued by a bank that meets the requirements set forth
in Paragraph 8(a) above within fifteen (15) days after the date that
Sublandlord gives Subtenant notice of such deficiency. If Subtenant fails to
deliver to Sublandlord such replacement Letter of Credit within such period of
fifteen (15) days, then Sublandlord, in addition to Sublandlord’s other rights
at law, in equity or as otherwise set forth herein, shall have the right to
present the Letter of Credit for payment and retain the proceeds thereof as
security in lieu of the Letter of Credit (it being agreed that Sublandlord
shall have the right to use, apply and transfer such proceeds in the manner
described in this Paragraph 8). In the event Subtenant becomes aware that the
issuer of the Letter of Credit has elected to no longer maintain, or in fact no
longer maintains, an office in the city in which the Subleased Premises is
located at which the Letter of Credit can be drawn upon, Subtenant agrees to
promptly notify Sublandlord of such fact. Subtenant shall reimburse Sublandlord
for any reasonable costs that Sublandlord incurs in presenting the Letter of
Credit for payment within thirty (30) days after Sublandlord submits to
Subtenant an invoice therefor. Nothing contained in this Paragraph 8 limits
Sublandlord’s rights or remedies in equity, at law, or as otherwise set forth
herein.

          (c) Return of Letter of Credit.
Sublandlord shall return to Subtenant the Letter of Credit (to the extent not
theretofore presented for payment in accordance with the terms hereof) within
forty-six (46) days following the expiration or earlier termination of the Term
provided Subtenant is not then in default hereunder. 

          (d) Transfers of Letter of Credit.
Subtenant, at Subtenant’s expense, shall cause the issuer of the Letter of
Credit to amend the Letter of Credit to name a new beneficiary thereunder in
connection with Sublandlord’s assignment of Sublandlord’s rights under this
Sublease in accordance with the terms of this Sublease, promptly after
Sublandlord’s request from time to time. 

          (e) Expiration of Letter of Credit.
If (i) Subtenant fails to provide Sublandlord with a replacement Letter of
Credit that complies with the requirements of this Paragraph 8 on or prior to
the thirtieth (30th) day before the date that the Letter of Credit expires, and
(ii) Subtenant’s failure continues for more than five (5) business days after
the date that Sublandlord gives Subtenant notice thereof, then Sublandlord may
present the Letter of Credit for payment and retain the proceeds thereof as
security in lieu of the Letter of Credit (it being agreed that Sublandlord
shall have the right to use, apply
and transfer such proceeds in the manner described in this Paragraph 8).
Subtenant shall reimburse Sublandlord for any reasonable costs that Sublandlord
incurs in so presenting the Letter of Credit for payment within thirty (30)
days after Sublandlord submit to Subtenant an invoice therefor. 

          (f) Intentionally omitted.

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          9. USE. Subtenant shall use the Subleased
Premises for executive and administrative offices and for no other purpose, and
further covenants not to do any act which will result in a violation of the
Master Lease. Subtenant shall not store, use or dispose of any hazardous
materials in, or about the Subleased Premises or the Building. Subtenant shall
immediately provide Sublandlord with copies of any notice, report or other
correspondence between Subtenant and any governmental agency concerning any
hazardous materials in, on or about the Subleased Premises or the Building.

          10. DEFAULT.

          (a) Events of Default. In addition
to any other event specified in (or
incorporated by reference into) this Sublease as an event of default, the
occurrence of any one or more of the following events (“Events of Default”)
shall constitute a breach of this Sublease by Subtenant: (i) failure by
Subtenant to pay Fixed Rent, Additional Charges or any other sum when and as
the same becomes due and payable; and (ii) failure by Subtenant to perform or
observe any other obligations of Subtenant hereunder which continues after
written notice identifying such breach, in each case subject to any cure period
provided herein or under the Master Lease (as incorporated herein by reference,
but as shortened pursuant to Paragraph 23 hereunder).  

          (b) Sublandlord’s Remedies. If an
Event of Default occurs, Sublandlord shall be entitled to exercise against
Subtenant all of the rights and remedies to which Sublandlord is entitled at
law, and also any and all rights and remedies afforded to Landlord in the
Master Lease with respect to breaches of the Master Lease by Sublandlord, and
Subtenant shall indemnify, defend and hold Sublandlord harmless from all
damages resulting from the default and shall reimburse Sublandlord for all sums
incurred by Sublandlord in fulfilling Subtenant’s obligations, together with
interest on those sums at the Specified Rate. 

          11. ASSIGNMENT AND SUBLETTING.

          (a) General. Subtenant shall not,
without the prior written consent of Master Landlord (which consent shall be
obtained subject and pursuant to the terms of the Master Lease) and Sublandlord
(which consent shall not be unreasonably withheld or delayed), assign, sublet,
mortgage, pledge, encumber or otherwise transfer (collectively, “Transfer”)
this Sublease, the term or estate hereby granted, any interest hereunder, or
all or any portion of the Subleased Premises, or permit the Subleased Premises
to be used or occupied by anyone other than Subtenant. Any change in control of
Subtenant, assignment by operation of law or sale of substantially all of
Subtenant’s assets shall be deemed a Transfer. 

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          (b) Notice and Procedure. If at any
time during the Term, Subtenant desires to Transfer this Sublease, then
Subtenant shall give Sublandlord a notice which shall set forth the name,
address and business of the proposed transferee, financial statements and
references of the proposed assignee or sub-subtenant and all material terms and
conditions of the proposed assignment or subletting, all in such detail as
Sublandlord may reasonably require. Sublandlord shall have the option,
exercisable by giving notice to Subtenant, to (i) consent to the Transfer, (ii)
withhold consent to the Transfer, or (iii) terminate this Sublease as of the
date upon which the Transfer was to have occurred, in which event Subtenant
shall be relieved of all further obligations hereunder. No failure of
Sublandlord to exercise its termination right shall be deemed to be
Sublandlord’s consent to the assignment or subletting. 

          (c)
Continuing Liability of Subtenant.
No Transfer shall release Subtenant from its obligations or alter the primary
liability of Subtenant to pay Rent and to perform all other obligations to be
performed by Subtenant hereunder. The acceptance of Rent by Sublandlord from
any other person shall not be deemed a waiver by Sublandlord of any provision
hereof. 

          12. WAIVER OF LIABILITY.  Sublandlord shall not be
liable or
responsible for, and Subtenant waives all claims against Sublandlord, its
managers, members, principals, partners, shareholders, officers, directors,
agents and employees (collectively, the “Sublandlord Protected Parties”),
with respect to or arising out of: any death of or injury to Subtenant or any
other person, from any causes
whatsoever; or for any loss of or damage to any property outside or within the
Subleased Premises belonging to Subtenant or any other person, unless such
death, injury, loss or damage is caused by the gross negligence or willful
misconduct of any of the Sublandlord Protected Parties.

          13. INDEMNITY. Subtenant shall indemnify,
protect, defend and hold the Sublandlord Protected Parties, Master Landlord,
and their respective agents and employees harmless and defend the Sublandlord
Protected Parties and Master Landlord, and their respective agents and
employees, from and against any and all losses, expenses, costs, damages,
claims, or liability for any damage to any property or injury, illness or death
of any person occurring in or about the Subleased Premises or as a result of
any acts or omissions of Subtenant arising at any time and from any cause
whatsoever (other than by reason of the gross negligence or willful misconduct
of any of the Sublandlord Protected Parties, Master Landlord or their
respective agents and employees, arising from acts or omissions of other
occupants of the 23rd floor of the Building or their agents,
employees or invitees, or arising from acts or omissions of third parties prior
to delivery of the Subleased Premises to Subtenant) including, without
limitation, claims, costs and liabilities (including reasonable attorneys’ fees
and costs) arising out of or in connection with the removal, cleanup or
abatement of any hazardous materials which may be in or about the Subleased

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Premises as a result of any
act or omission of Subtenant, its employees, agents or contractors. This
Paragraph shall survive the termination of this Sublease,

          14. INSURANCE. Subtenant shall maintain the
amounts and types of insurance required of Sublandlord as tenant in accordance
with and pursuant to the Master Lease with respect to the Subleased Premises,
which insurance shall name Master Landlord, Sublandlord and such other parties
as are required under the Master Lease as additional insureds.

          15. ALTERATIONS. Subtenant acknowledges and
agrees that any and all alterations, installations, renovations or other items
of work necessary to prepare the Subleased Premises for Subtenant’s initial
occupancy or any alterations, changes, improvements or additions (collectively,
“Alterations”) subsequently performed (collectively, “Subtenant”s Work”)
shall be performed by Subtenant (subject to applicable provisions of the Master
Lease), at Subtenant’s sole cost and expense. At all times during construction
Subtenant shall have obtained, and shall maintain, all necessary and
appropriate permits, licenses, authorizations and approvals from all
governmental authorities having or asserting jurisdiction, and shall deliver
true copies thereof to Sublandlord promptly following Sublandlord’s request.
Subtenant shall deliver to Sublandlord
and Master Landlord copies of the final, marked drawings and field notes for
such Subtenant’s Work and any other documentation or instruments required by
the Master Lease. 

          16. ADDITIONAL SERVICES. Subtenant shall
make its own arrangements with Master Landlord for the furnishing of additional
services to the Subleased Premises other than those which are required to be
furnished by Master Landlord under the terms of the Master Lease and any such
additional services shall be paid for by Subtenant. Sublandlord shall have no
liability to Subtenant by reason of the failure of Master Landlord under the
Master Lease or for Master Landlord’s refusal to provide any additional
services requested by Subtenant. Subtenant acknowledges that to the extent any
additional services only can be provided to the entire 23rd Floor of
the Building as opposed to the Subleased Premises only (such as HVAC),
Sublandlord and Subtenant shall work together to determine a fair method for
allocating the cost of additional services provided to the 23rd
Floor of the Building (which may include Subtenant being responsible for the
entire cost of such additional service to the extent other occupants of the 23rd
Floor of the Building have not requested such additional service). For the
purposes of this Paragraph 16, the term “additional services” shall include,
but not be limited to, overtime HVAC service, various overtime building
services and increased capacity of electric energy.

          17. NOTICES. All demands, approvals,
consents or notices (collectively, a “Notice”) shall be in writing and shall
be given by personal service, certified or registered mail, postage prepaid, or
delivered by a reputable overnight air courier service which provides written
evidence of delivery (which in each case shall

11

be deemed delivered upon
receipt or refusal thereof). A Notice shall be addressed to the addresses under
the signatures below. Either party hereto may change its address for Notice by
written notice delivered as set forth above. Subtenant shall promptly after
receipt thereof send to Sublandlord copies of all notices Subtenant receives
from Master Landlord or with reference to the Subleased Premises. For purposes
of Sublandlord’s response to any request by Subtenant, all time periods in the
Master Lease within which Master Landlord is required to act or respond shall
be extended by five (5) business days.

          18. ATTORNEYS’ FEES. The prevailing party
in any action or proceeding (whether at the administrative, trial or appellate
levels) brought by either party against the other under this Sublease shall
recover attorneys’ fees and costs in such amount as the court or administrative
body may adjudge reasonable.

          19. ADMINISTRATION
OF THIS SUBLEASE. If Subtenant requests that Sublandlord execute  any document relating to or in connection
with this Sublease, including, without limitation, the approval of any assignment or subletting, Subtenant
shall reimburse Sublandlord, within ten (10) days after billing, for the
reasonable cost of reviewing and processing of Subtenant’s request including,
without limitation, Master Landlord’s review fee plus reasonable attorneys’
fees incurred by Sublandlord.

          20. TERMINATION OF MASTER LEASE. If the
Master Lease confers upon Sublandlord or the Master Landlord the right to
terminate the Master Lease in the event of damage, destruction, eminent domain
or similar circumstances, or to exercise the right to relocate Sublandlord, the
exercise by Sublandlord or the Master Landlord of such termination or
relocation right shall not constitute a default or breach by Sublandlord
hereunder. For purposes of clarification, Subtenant acknowledges and agrees
that Sublandlord shall not be liable to Subtenant for any termination of the
Master Lease unless: (a) such termination shall have arisen out of a default
under the Master Lease by Sublandlord not arising out of any act or omission by
Subtenant; or (b) except to the extent permitted under this Sublease, such
termination shall have been beyond Sublandlord’s reasonable control.

          21. EXCULPATION. The liability of
Sublandlord hereunder shall be limited to the interest of Sublandlord in and to
the Master Lease Premises, and Subtenant shall look solely to such interest in
prosecuting any claim which Subtenant may have hereunder against Sublandlord. In
no event shall Subtenant (or any person or entity claiming by, through or under
Subtenant) make any claim against the direct or indirect shareholders,
officers, directors, individuals, employees, agents, partners, affiliates,
members or joint venturers of Sublandlord.

          22. BROKERS.
Sublandlord represents to Subtenant that it has not dealt with any
brokers in connection with this Sublease other than Newmark Knight

12

Frank, whose commission
shall be paid by Sublandlord under a separate agreement. Subtenant represents to
Sublandlord that it has not dealt with any brokers in connection with this
Sublease other than Cushman & Wakefield, Inc., whose commission shall be
paid by Sublandlord under a separate agreement. Each of Subtenant and
Sublandlord shall indemnify, protect, defend and hold the other harmless from
and against any and all claims, costs or liability arising out of or relating to
a breach by such indemnifying party of this representation. The terms of this
Paragraph 22 shall survive the expiration or earlier termination of this
Sublease.

          23. TIME PERIODS. Except to the extent
expressly provided in this Sublease, all time periods specified in the Master
Lease (as incorporated by reference herein) for performance by Subtenant shall
be two (2) business day less than that specified in the Master Lease.

          24. SEVERABILITY.
If any provision of this Sublease or any term, paragraph, sentence
clause, phrase or word appearing herein be judicially or administratively held
invalid or unenforceable for any reason, such holding shall not be deemed to
affect, alter, modify or impair in any
manner any other provision, term, paragraph, sentence, clause, phrase or word
appearing herein.

          25. ENTIRE AGREEMENT. This Sublease and
the exhibits attached hereto constitute the sole and exclusive agreement
between the parties with respect to the Subleased Premises. No amendment,
modification of or supplements of this Sublease shall be effective unless in
writing and executed by Sublandlord and Subtenant.

          26. SURVIVAL. All indemnities contained in
this Sublease shall survive the expiration or termination hereof.

          27. EXHIBITS. Exhibits “A”,
“B” and “C”
attached hereto are incorporated herein by reference.

          28. SUBMISSION OF SUBLEASE. Submission of
this Sublease to Subtenant for signature does not constitute a reservation of
space or an option to sublease. This Sublease is not effective until execution
by and delivery to both Sublandlord and Subtenant. Pursuant to Paragraph 5 of
this Sublease and Article 13 of the Master Lease, this Sublease is subject to
written consent of Master Landlord, which Sublandlord shall deliver to
Subtenant promptly after receipt of such consent from Master Landlord,
Subtenant acknowledges that Subtenant may be required to counter execute and
deliver the consent document as a condition precedent to Master Landlord’s
execution of the consent. Sublandlord and Subtenant hereby agree that they
shall cooperate in good faith with one another and shall comply with any
reasonable requests made by one another or Master Landlord (including, without
limitation, submitting certain financial materials or other information
concerning

13

Subtenant as is reasonably
requested by Master Landlord) for purposes of procuring the Master Landlord’s
consent. If the consent of the Master Landlord is not obtained for any reason
whatsoever within sixty-one (61) days after the date hereof, then either party
may elect to cancel this Sublease by giving notice to the other party after the
expiration of said sixty-one (61) day period, but prior to the giving of the
consent by the Master Landlord; provided, however, that a party to this
Sublease shall have no right to terminate unless it has complied with the good
faith cooperation obligation set forth above.

          29. SUBLANDLORD CONSENT. In any instance in
which Sublandlord is required by any provision of this Sublease or applicable
law not unreasonably to withhold consent or approval, provided that
Sublandlord has not acted in bad faith, Subtenant’s sole remedy shall be an
action for specific performance or injunction requiring Sublandlord to grant such
consent or approval, all other remedies which would otherwise be available
being hereby waived by Subtenant.

          30. VALID AUTHORITY.

          (a)
Subtenant. Subtenant represents and warrants to Sublandlord that (i)
Subtenant is duly organized, validly existing and in good standing under the
laws of the State of Delaware, has the authority to do business in the State of
New York, and has the full right and authority to enter into this Sublease; and
(ii) the execution, delivery and performance of this Sublease by Subtenant: (x)
has been duly authorized, (y) does not conflict with any provisions of any
instrument to which Subtenant is a party or by which Subtenant is bound, and
(z) constitutes a valid, legal and binding obligation of Subtenant.

          (b) Sublandlord. Sublandlord represents and warrants to Subtenant that (i)
Sublandlord is duly organized, validly existing and in good standing under the
laws of the State of Delaware, has the authority to do business in the State of
New York, and has the full right and authority to enter into this Sublease; and
(ii) the execution, delivery and performance of this Sublease by Sublandlord: (x) has been duly authorized, (y) does not
conflict with any provisions of any instrument to which Sublandlord is a party
or by which Sublandlord is bound, and (z) constitutes a valid, legal and
binding obligation of Sublandlord.

          31. GOVERNING LAW. This Sublease is made in the State of New York and shall be
governed by and construed under the laws thereof.

          32. SUCCESSORS AND ASSIGNS. The provisions
of this Sublease shall extend to, bind and inure to the benefit of the parties
hereto and their respective permitted successors and assigns.

14

          33. BUILDING DIRECTORY. Subtenant shall
have the right, at no cost or expense to Subtenant, to have its proportionate
share of Sublandlord’s listings in the Building directory, subject to the terms
of the Master Lease and Master Landlord’s approval. In addition, subject to
Sublandlord’s approval, not to be unreasonably withheld, conditioned or
delayed, and Master Landlord’s approval or pursuant to any Building rules and
regulations of Master Landlord concerning signage of tenants on floors
partially occupied by a tenant, Subtenant may install signage identification in
the elevator lobby of the twenty-third (23rd) Floor of the Building
and/or on the wall at the entry door to the Subleased Premises.

          IN
WITNESS WHEREOF, this Sublease is made the day and year first above written.

	
 

	
 

	
 

	
 

	
 

	
 

	
SUBLANDLORD:

	
SUBTENANT:

	
 

	
 

	
ROCKBAY CAPITAL MANAGEMENT,

	
DELCATH SYSTEMS, INC., a 

	
L.P, a Delaware limited partnership

	
Delaware corporation

	
 

	
 

	
 

	
 

	
 

	
 

	
By:

	

	
By:

	

	
 

	

	
 

	

	
 

	
Name:

	
Atul Khanna

	
 

	
Name:

	
Richard Taney

	
 

	
Title:

	
CHIEF EXECUTIVE OFFICER

	
 

	
Title:

	
CEO

	
 

	
 

	
 

	
 

	
Address:

	
600 Fifth Avenue, 24th Floor

	
Address:

	
1100 Summer Street, 3rd Floor

	
 

	
New York, New York 10017

	
 

	
Stamford, CT 06905

	
 

	
Attn: GEN. COUNSEL

	
 

	
Attn: RICHARD TANEY

	
 

	
 

	
 

	
 

	
 

	
 

	
until the Commencement Date, following which
 Subtenant’s address shall be:

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
600 Fifth Avenue, 23rd Floor

	
 

	
 

	
 

	
New York, New York 10017

	
 

	
 

	
 

	
Attn: RICHARD TANEY

15

EXHIBIT “A”

DEPICTION OF SUBLEASED PREMISES

(attached)

Space A – 3,400 

SUBLEASE OUTa10-13.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

Exhibit 10.2

RCPI Landmark Properties, L.L.C. 

c/o Tishman Speyer Properties, L.P.

45 Rockefeller Plaza 

New York, New York 10111 

August 21, 2007 

Rockbay Capital Management, L.P. 

600 Fifth Avenue, 24th Floor 

New York, New York 10020 

Delcath Systems, Inc.

1100 Summer Street, 3rd Floor 

Stamford, Connecticut 06905 

      RE:       CONSENT TO SUBLEASE 

	
“Building”:
  	 
  	
600 Fifth Avenue, New York, New York 10020.
  
	 	 	 
	
“Premises”:
  	 
  	
The entire 23rd and 24th floors of the Building.
  
	 	 	 
	
“Sublet Space”:
  	 
  	
A portion of the Premises.
  
	 	 	 
	
“Landlord”:
  	 
  	
RCPI Landmark Properties, L.L.C.
  
	 	 	 
	
“Sublandlord”:
  	 
  	
Rockbay Capital Management, L.P.
  
	 	 	 
	
“Subtenant”:
  	 
  	
Delcath Systems, Inc.
  
	 	 	 
	
“Lease”:
  	 
  	
Lease dated November 7, 2003, between Landlord, as landlord,
  
	 

  	 
  	
and Rockbay Capital Advisors, Inc. (Sublandlord’s predecessor-in-
  
	 

  	 
  	
interest), as tenant, as same has been and may hereafter be
  
	 

  	 
  	
amended, modified, extended or restated from time to time.
  
	 	 	 
	
“Sublease”:
  	 
  	
Sublease dated July 9, 2007 between Sublandlord and Subtenant,
  
	 

  	 
  	
as attached hereto, as same may be amended, modified, extended
  
	 

  	 
  	
or restated from time to time, as may be permitted hereunder.
  

Ladies/Gentlemen: 

      You have requested Landlord’s
consent to the sublease of the Sublet Space. Such consent is hereby granted on
the terms and conditions, and in reliance upon the representations and warranties,
set forth in this letter (this
“Agreement”). 

      1. Sublandlord represents
and warrants to Landlord that (a) the Lease is in full force and effect; (b)
the Lease has not been assigned, encumbered, modified, extended or supplemented,
other than as attached as an exhibit to the Sublease; (c) Sublandlord knows of
no defense or counterclaim to the enforcement of the Lease; (d) Sublandlord is
not entitled to any reduction, offset or abatement of the rent payable under
the Lease; (e) Sublandlord is not in default of any of its obligations or covenants,
and has not breached any of its representations or warranties, under the Lease;
(f) Landlord has paid all amounts and 

performed all work required to be paid or performed under
the Lease in connection with the initial occupancy of the Premises under the
Lease; and (g) Landlord is not in default of any of its obligations or covenants
under the Lease. 

      2. Sublandlord and Subtenant each represents and warrants to Landlord that (a) the Sublease constitutes the complete agreement between Sublandlord and Subtenant with respect to the subject matter thereof; (b) a true and complete
copy of the Sublease is attached hereto; and (c) no rent or other consideration is being paid to Sublandlord by Subtenant for the Sublease or for the use, sale or rental of Sublandlord’s fixtures, leasehold improvements, equipment, furniture or
other personal property except as set forth in the Sublease. 

      3. The Sublease shall be subject and subordinate to the Lease and this Agreement. Neither Sublandlord nor Subtenant shall take, permit or suffer any action which would violate the provisions of the Lease or this Agreement.

      4. Landlord’s obligations to Sublandlord are governed only by the Lease and this Agreement. Landlord’s obligations to Subtenant are only as expressly provided in this Agreement. Landlord shall not be bound or estopped
by any provision of the Sublease, including any provision purporting to impose any obligations upon Landlord (except as provided in Paragraph 7 of this Agreement). Nothing contained herein shall be construed as a consent to, approval of, or
ratification by Landlord of, any of the particular provisions of the Sublease or any plan or drawing referred to or contained therein (except as may be expressly approved herein). Landlord has not reviewed or approved any provision of the Sublease.
Notwithstanding anything to the contrary contained in the Sublease, the term of the Sublease shall end no later than the day that is one day prior to the Expiration Date (as defined in the Lease). 

      5. If Sublandlord or Subtenant violates any of the terms of this Agreement, or if any representation by Sublandlord or Subtenant in this Agreement is untrue in any material respect, or if Subtenant takes any action which would
constitute a default under the Lease after giving of notice and the expiration of any grace period required under the Lease, then Landlord may declare the Lease to be in default and avail itself of all remedies provided at law or equity or in the
Lease with respect to defaults. 

      6. Subject to the provisions of Paragraph 7 of this Agreement, if the Lease is terminated prior to the stated expiration date provided therein, the Sublease, shall likewise terminate on the date of such termination. In
connection with such termination, Subtenant, at its sole expense, shall surrender the Sublet Space to Landlord in the manner provided for in the Lease, including the removal of all its personal property from the Sublet Space and from any part of the
Building to which it is not otherwise entitled to occupancy and repair all resulting damage to the Sublet Space and the Building. Except as otherwise provided in the Lease, Lanlord shall have the right to retain any property and personal effects
which remain in the Sublet Space or the Building for more than five (5) Business Days following the date of termination of the Sublease, without any obligation or liability to Subtenant, and to retain any net proceeds realized from the sale thereof,
without waiving Landlord’s rights with respect to any default by Sublandlord
under the Lease or Subtenant under the foregoing provisions of this paragraph
and the provisions of the Lease and the Sublease. If Subtenant shall fail to
vacate and surrender the Sublet Space in accordance with the provisions of this
paragraph, Landlord shall be entitled to all of the rights and remedies which
are available to a landlord 

2

against a tenant holding over after the expiration of a term,
and any such holding over shall be deemed a default under the Lease and a holding
over by Sublandlord with respect to the entire Premises under the Lease. In addition,
Subtenant agrees that it will not seek, and it expressly waives any right to
seek, any stay of the prosecution of, or the execution of any judgment awarded
in, any action by Landlord to recover possession of the Sublet Space. Subtenant
may not vacate the Sublet Space on a Saturday, Sunday or a holiday. If the Sublease
terminates on a Saturday, Sunday or a holiday, Subtenant must comply with this
paragraph by the end of the preceding  Business Day. This paragraph shall survive
the earlier termination of the Lease and the Sublease. 

      7. If the Lease is terminated before the stated expiration date of the Sublease, and if Landlord or any other party then entitled to possession of the Sublet Space so notifies Subtenant, Subtenant, at Landlord’s option,
shall attorn to Landlord or any such party for the remainder of the stated term of the Sublease under all the terms and conditions of the Lease, except that the fixed rent and any additional rent payable by Subtenant to Landlord pursuant to the
Lease (collectively, the “Rent”) shall be the greater of (x) the fixed rent and additional rent payable by Subtenant as set forth in the Sublease and (y) the Rent set forth in the
Lease. The party to whom Subtenant attorns shall, under such circumstances, agree not to disturb Subtenant in its use and enjoyment of the Sublet Space, provided Subtenant performs all of its obligations under the Lease (except as provided above).
Such party shall not be required to honor or credit Subtenant for (a) any payments of rent made to Sublandlord for more than one month in advance or for any other payment owing by, or on deposit with, Sublandlord for the credit of Subtenant, (b) any
obligation to perform any work or make any payment to Subtenant pursuant to a work letter, the Sublease or otherwise, (c) any security deposit not in Landlord’s actual possession, (d) any obligation of, or liability resulting from any act or
omission of, Sublandlord, (e) any amendment of the Sublease not expressly consented to by Landlord, or (f) any defenses, abatements, reductions, counterclaims or offsets assertable against Sublandlord. This provision is self-operative upon demand
for attornment, whether or not, as a matter of law, the Sublease may terminate upon the expiration or termination of the term of the Lease. Subtenant, however, agrees to give Landlord or such other party, on request, an instrument acknowledging an
attornment according to these terms. No attornment pursuant to this paragraph shall be deemed a waiver or impairment of Landlord’s rights under the Lease to pursue any remedy not inconsistent with such attornment. In the event of such election
by Landlord or such other party, Sublandlord shall deliver to Landlord or such other party any security deposit which Sublandlord is then holding under the Sublease. 

      8. Sublandlord and Subtenant each agrees that: 

     (a) none of the Landlord’s shareholders, partners, members, managers, directors, officers, agents or employees, directly or indirectly, shall be liable for Landlord’s performance under the
Lease or this Agreement; 

     (b) Landlord’s liability under the Lease and this Agreement shall be limited to Landlord’s interest in the Real Property (as defined in the Lease) and the net undistributed proceeds from a
sale thereof; 

     (c) it will not seek to satisfy any judgment against Landlord out of the assets of any person or entity other than Landlord (but only to the extent provided in clause (b) above); and 

 3

     (d) the obligations of Landlord under this Agreement and the Lease shall not be binding upon Landlord to the extent that they arise after the sale, conveyance, assignment or transfer by Landlord of its interest in the Real
Property, and Sublandlord and Subtenant shall look solely to the transferee for the satisfaction of such obligations. Any such transferee shall be deemed to have assumed all of Landlord’s obligations under this Agreement and the Lease.

      9. Sublandlord and Subtenant,
jointly and severally, agree to indemnify Landlord against, and hold Landlord
harmless from, all costs, damages and expenses, including reasonable attorneys’ fees
and disbursements, arising out  of any claims for brokerage commissions, finders
fees or other compensation by reason of any person or entity claiming to have
dealt with Sublandlord or Subtenant in connection with the Sublease or procuring
possession of the Sublet Space.  Sublandlord and Subtenant, at their sole expense,
may defend any such claim with counsel reasonably acceptable to Landlord and
settle any such claim at their expense, but only Landlord may approve the text
of any stipulation, settlement agreement,  consent order, judgment or decree
entered into on its behalf. The provisions of this Paragraph 9 shall survive
the expiration or sooner termination of the Lease or the Sublease. 

      10. Sublandlord and Subtenant,
jointly and severally, agree to indemnify Landlord against, and hold it harmless
from any and all losses, costs, expenses, claims and liabilities including, but
not limited to, reasonable counsel  fees, arising from any accident, injury
or damage whatsoever caused to any person or entity or to the property of any
person or entity and occurring during the term of the Sublease in or about the
Sublet Space except if and to the extent caused by  the gross negligence or willful
misconduct of Landlord or Landlord’s agent or employees. If any proceeding
is brought against Landlord by reason of any such claim, Sublandlord and Subtenant,
jointly and severally, shall be responsible for Landlord’s costs and expenses
(including, without limitation, reasonable attorneys’ fees and expenses)
incurred in connection therewith. If any action or proceeding is brought against
Landlord by reason of any such claims, Sublandland and/or Subtenant, upon written
notice from Landlord, shall, at Sublandlord’s and Subtenant’s sole
cost and expense, resist or defend such action or proceeding using counsel reasonably
approved by Landlord, but may not settle any such claim without Landlord’s
prior written approval, unless: (a) such settlement shall involve no obligation
on the part of Landlord other than the payment of money, (b) any payments to
be made pursuant to such settlement shall be paid in full exclusively by Sublandlord
and Subtenant, jointly and severally, at the time such settlement is reached,
(c) such settlement shall not require Landlord to admit any liability, and (d)
Landlord shall have received an unconditional release from the other parties
to such claim, suit or other proceeding. The provisions of this Paragraph 10
shall survive the expiration or earlier termination of the term of the Sublease
or the Lease. The indemnity and any right granted to Landlord pursuant to this
paragraph shall be in addition to, and not in limitation of, Landlord’s
rights under the Lease. Subtenant shall name the Landlord as an additional insured
on all liability insurance policies. 

      11. Landlord’s consent
to the Sublease does not include consent to any modification, supplement or amendment
of the Sublease, or to any assignment of the Sublease or further subletting of
the Sublet Space, each of which requires Landlord’s prior written consent.
If Sublandlord or Subtenant desires Landlord’s consent to any such other 

4 

action it must specifically and separately request such consent. Sublandlord shall give Landlord prompt written notice if the Sublease terminates prior to its stated term. 

      12. Neither the execution and delivery of this Agreement or the Sublease, nor any acceptance of rent or other consideration from Subtenant by Landlord or Landlord’s agent shall operate to waive, modify, impair, release or in
any manner affect Sublandlord’s liability or obligations under the Lease or Subtenant’s liability or obligations under the Sublease. Sublandlord and Subtenant each agrees that any additional services requested and authorized by Subtenant
are deemed to be authorized by Sublandlord, and the charges for such additional services that are assessed by Landlord constitute additional rent payable under the Lease. 

      13. If there shall be any conflict or inconsistency between the terms, covenants and conditions of this Agreement or the Lease and the Sublease, then the terms, covenants and conditions of this Agreement or the Lease shall
prevail. If there shall be any conflict or inconsistency between this Agreement and the Lease, the terms of this Agreement shall prevail. 

      14. The Lease and this Agreement constitute the entire agreement of the parties with respect to Landlord’s consent to the Sublease. This Agreement may not be changed except in writing signed by each party hereto. 

      15. All statements, notices and other communications given pursuant to this Agreement must be in writing and must be delivered as provided in the Lease, addressed to Landlord and Sublandlord as provided in the Lease and to
Subtenant at its address set forth above or at such other address as any party may designate upon not less than 10 days prior notice given in accordance with this paragraph. 

      16. Landlord’s rights
and remedies under this Agreement shall be in addition to every other right or
remedy available to it under the Lease, at law, in equity or otherwise and Landlord
shall be able to assert its rights and remedies at the same time as, before,
or after its assertion of any other right or remedy to which it is entitled without
in any way diminishing such other rights or remedies. The invalidity or unenforceability
of any provision of this Agreement shall not impair the validity and enforceability
of any other provision of this Agreement. 

      17. This Agreement shall bind and inure to the benefit of the parties and their respective successors and assigns, except as provided in Paragraph 8(d) above and except that it shall not inure to the benefit of any successor or
assign of Sublandlord or Subtenant whose status was acquired in violation of the Lease or this Agreement. 

      18. Each of Landlord, Sublandlord, and Subtenant represents that it is duly authorized to execute and deliver this Agreement, and that each of Landlord, Sublandlord and Subtenant has full power and authority to enter into this
Agreement. 

       19. The
    Agreement will be construed and governed by New York law. Sublandlord and
    Subtenant each consents to the personal and subject matter jurisdiction of
the courts of the State of New York. 

5

 

      20. This Agreement may be executed in counterparts, each of which shall be deemed an original, and all such counterparts shall together constitute one and the same instrument. 

      21. Sublandlord and Subtenant each agrees jointly and severally to pay, upon demand, Landlord’s reasonable out-of-pocket fees and disbursements incurred in connection with and related to the preparation and execution of this
Agreement. 

      22. EACH OF THE PARTIES
HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ITS RIGHTS TO A JURY TRIAL IN ANY
CAUSE OF ACTION ARISING OUT OF, OR RELATING TO, THIS AGREEMENT. 

6

 

EXHIBIT 

Sublease 

See Attached 

 

 

 

7

 

 

      Please acknowledge your agreement to the terms and conditions of this Agreement by signing the copy of this Agreement enclosed herewith and returning it to the Landlord. You may consider Landlord’s consent to be effective
upon your receipt of a fully executed copy of this Agreement. 

 

	 	Very truly yours, 	 
	 	 	 
	 	 	 
	 	 	RCPI LANDMARK PROPERTIES, L.L.C., Landlord	 
	 	 	By: Tishman Speyer Properties, L.P., its Agent	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 	By:		 
	 	 	 	 	Name: Steven R. Wechsler 	 
	 	 	 	 	Title: Senior Managing Director 	 

 

 

Agreed and Consented to by: 

ROCKBAY CAPITAL MANAGEMENT, L.P., Sublandlord 

	 	 
	By:		 
	 	Name: Matthew Lux 	 
	 	Title: General Counsel 	 

 

DELCATH SYSTEMS, INC., Subtenant 

	 	 
	By:		 
	 	Name: Ricard Taney 	 
	 	Title: CEO 	 

 

8

   Please acknowledge your
    agreement to the terms and conditions of this Agreement by signing the copy
    of this Agreement enclosed herewith and returning it to the Landlord. You
    may consider Landlord’s consent to be effective upon your receipt of
    a fully executed copy of this Agreement. 

 

	 	Very truly yours, 	 
	 	 	 
	 	 	 
	 	 	RCPI LANDMARK PROPERTIES, L.L.C., Landlord	 
	 	 	By: Tishman Speyer Properties, L.P., its
        Agent	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 	By:		 
	 	 	 	 	Name: Steven R. Wechsler 	 
	 	 	 	 	Title: Senior Managing Director 	 

 

 

 Agreed and Consented to by: 

 ROCKBAY CAPITAL MANAGEMENT, L.P., Sublandlord 

	 	 
	By:		 
	 	Name: Matthew Lux 	 
	 	Title: General Counsel 	 

 

DELCATH SYSTEMS, INC., Subtenant 

	 	 
	By:		 
	 	Name: Ricard Taney 	 
	 	Title: CEO 	 

 

9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}]]