Document:

EXHIBIT 4.6
                                                                     -----------

THE WARRANTS REPRESENTED BY THIS CERTIFICATE AND THE OTHER SECURITIES ISSUABLE
UPON EXERCISE THEREOF HAVE NOT BEEN REGISTERED FOR PURPOSES OF PUBLIC
DISTRIBUTION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), AND MAY
NOT BE OFFERED OR SOLD EXCEPT (i) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE ACT, (ii) TO THE EXTENT APPLICABLE, PURSUANT TO RULE 144
UNDER SUCH ACT (OR ANY SIMILAR RULE UNDER SUCH ACT RELATING TO THE DISPOSITION
OF SECURITIES), OR (iii) UPON THE DELIVERY BY THE HOLDER TO THE COMPANY OF AN
OPINION OF COUNSEL, REASONABLY SATISFACTORY TO COUNSEL FOR THE COMPANY, STATING
THAT AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT IS AVAILABLE.

THE TRANSFER OR EXCHANGE OF THE WARRANTS REPRESENTED BY THIS CERTIFICATE IS
RESTRICTED IN ACCORDANCE WITH THE WARRANT AGREEMENT REFERRED TO HEREIN.

                            EXERCISABLE ON OR BEFORE
                 5:00 P.M., NEW YORK CITY TIME, January 4, 2005

No. W-2                                                         150,000 Warrants

                               WARRANT CERTIFICATE

         This Warrant Certificate certifies that Euroland Marketing Solutions,
LTD. or registered assigns, is the registered holder of (150,000) Warrants to
purchase, at any time from January 5, 2001 until 5:00 P.M. New York City time on
January 4, 2005 ("Expiration Date"), up to 150,000 units ("Units"), each
consisting of one fully-paid and non-assessable share of common stock, par value
$.01 per share (the "Common Stock"), of Delcath Systems, Inc., a Delaware
corporation (the "Company"), and one Common Stock Purchase Warrant, each Common
Stock Purchase Warrant entitling the holder thereof to purchase one share of
Common Stock (collectively, the "Unit Warrants") at the initial exercise price,
subject to adjustment in certain events (the "Exercise Price"), of $7.00 per
Unit upon surrender of this Warrant Certificate and payment of the Exercise
Price at an office or agency of the Company, but subject to the conditions set
forth herein and in the Warrant Agreement dated as of January 5, 2001 between
the Company and Euroland Marketing Solutions, LTD. (the "Warrant Agreement").
Payment of the Exercise Price may be made in cash, or by certified or official
bank check in New York Clearing House funds payable to the order of the Company,
or any combination thereof.

<PAGE>

         Each Unit Warrant issuable upon the exercise of a Warrant is initially
exercisable from the Separation Date through January 4, 2005, for one fully-paid
and non-assessable share of Common Stock at an initial exercise price of $6.60
per share. The Unit Warrants are issuable pursuant to the terms and provisions
of a certain agreement dated as of October 24, 2000 by and among the Company,
Whale Securities Co., L.P. (the "Underwriter") and American Stock Transfer &
Trust Company (the "Unit Warrant Agreement"). The Unit Warrant Agreement is
hereby incorporated by reference in and made a part of this instrument and is
hereby referred to (except as otherwise provided in the Warrant Agreement) for a
description of the rights, limitations of rights, manner of exercise,
anti-dilution provisions and other provisions with respect to the Unit Warrants.

         No Warrant may be exercised after 5:00 P.M., New York City time, on the
Expiration Date, at which time all Warrants evidenced hereby, unless exercised
prior thereto, shall thereafter be void.

         The Warrants evidenced by this Warrant Certificate are part of a duly
authorized issue of Warrants issued pursuant to the Warrant Agreement, which
Warrant Agreement is hereby incorporated by reference in and made a part of this
instrument and is hereby referred to for a description of the rights, limitation
of rights, obligations, duties and immunities thereunder of the Company and the
holders (the words "holders" or "holder" meaning the registered holders or
registered holder) of the Warrants.

         The Warrant Agreement provides that upon the occurrence of certain
events, the Exercise Price and the type and/or number of the Company's
securities issuable thereupon may, subject to certain conditions, be adjusted.
In such event, the Company will, at the request of the holder, issue a new
Warrant Certificate evidencing the adjustment in the Exercise Price and the
number and/or type of securities issuable upon the exercise of the Warrants;
provided, however, that the failure of the Company to issue such new Warrant
Certificates shall not in any way change, alter, or otherwise impair, the rights
of the holder as set forth in the Warrant Agreement.

         Upon due presentment for registration of transfer of this Warrant
Certificate at an office or agency of the Company, a new Warrant Certificate or
Warrant Certificates of like tenor and evidencing in the aggregate a like number
of Warrants shall be issued to the transferee(s) in exchange for this Warrant
Certificate, subject to the limitations provided herein and in the Warrant
Agreement, without any charge except for any tax, or other governmental charge
imposed in connection therewith.

         Upon the exercise of less than all of the Warrants evidenced by this
Certificate, the Company shall forthwith issue to the holder hereof a new
Warrant Certificate representing such number of unexercised Warrants.

         The Company may deem and treat the registered holder(s) hereof as the
absolute owner(s) of this Warrant Certificate (notwithstanding any notation of
ownership or other writing hereon made by anyone), for the purpose of any
exercise hereof, and of

                                      -2-

<PAGE>

any distribution to the holder(s) hereof, and for all other purposes, and the
Company shall not be affected by any notice to the contrary.

         All terms used in this Warrant Certificate which are defined in the
Warrant Agreement shall have the meanings assigned to them in the Warrant
Agreement.

         IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to
be duly executed under its corporate seal.

Dated:  January 5, 2001

                                        DELCATH SYSTEMS, INC.

                                        By:   /s/ M.S. Koly
                                              ----------------------------------
                                                M.S. Koly
                                        Title: Chief Executive Officer

                                      -3-

<PAGE>

                         [FORM OF ELECTION TO PURCHASE]

         The undersigned hereby irrevocably elects to exercise the right,
represented by this Warrant Certificate, to purchase _________ Units and
herewith tenders in payment for such securities cash or a certified or official
bank check payable in New York Clearing House Funds to the order of Delcath
Systems, Inc. in the amount of $ _____, all in accordance with the terms hereof.
The undersigned requests that a certificate for such securities be registered in
the name of __________, whose address is __________________, and that such
Certificate be delivered to __________________, whose address is _____________.

Dated:                              Signature:
                                               ---------------------------------

                                    (Signature must conform in all respects to
                                    name of holder as specified on the face of
                                    the Warrant Certificate.)

                                    --------------------------------------------

                                    --------------------------------------------

                                    (Insert Social Security or Other
                                    Identifying Number of Holder)

<PAGE>

                              [FORM OF ASSIGNMENT]

             (To be executed by the registered holder if such holder
                  desires to transfer the Warrant Certificate.)

FOR VALUE RECEIVED
                   -------------------------------------------------------------

hereby sells, assigns and transfers unto
                                         ---------------------------------------

--------------------------------------------------------------------------------
(Please print name and address of transferee)

this Warrant Certificate, together with all right, title and interest therein,
and does hereby irrevocably constitute and appoint _______________, Attorney, to
transfer the within Warrant Certificate on the books of the within-named
Company, with full power of substitution.

Dated:                              Signature:
                                               ---------------------------------

                                    (Signature must conform in all respects to
                                    name of holder as specified on the face of
                                    the Warrant Certificate.)

----------------------------------

----------------------------------

(Insert Social Security or Other
Identifying Number of Holder)EXHIBIT 10.9
                                                                    ------------

                          CONSULTING SERVICES AGREEMENT

This CONSULTING SERVICES AGREEMENT (the "Agreement") is made as of this 5th day
of January, 2001, between DELCATH SYSTEMS, INC., a Delaware corporation (the
"Company"), and EUROLAND MARKETING SOLUTIONS, LTD., a company organized under
the laws of British Virgin Islands with an address of 23 Rue Aldringen, L1118
Luxembourg (the "Consultant"). Consultant has been retained by Company to serve
as a consultant and advisor, on a non-exclusive basis for a period of 1 year, on
the following terms and conditions:

SERVICES

Consultant will provide the following services to Company:

a.     Financial consulting services and advice pertaining to the Company's
       business in Europe, as the Company may from time to time reasonably
       request.

b.     Consultant will assist the Company in identifying strategic opportunities
       in Europe.

c.     Consultant will use its best efforts, to arrange introductions and
       meetings between representatives of the Company and individuals and
       financial institutions in the investment community in Europe.

COMPENSATION

Company agrees to issue on January 5, 2001, and Consultant agrees to accept, a
Warrant to purchase up to One Hundred Fifty Thousand (150,000) Units of the
Delcath Systems, Inc., at an exercise price equal to $7.00 per Unit (the
"Warrant"). The Units underlying the Warrant are identical to the Units offered
by the Company in initial public offering on October 19, 2000 except that they
have not been registered under the Securities Act of 1933. The Warrant is fully
vested on grant and may be exercised at any time, in whole or in part, during
the three-year period commencing on the date of issuance. The Company grants to
Consultant a one-time demand registration right such that the Company agrees
that, upon the request of Consultant, it will, at it own expense (except for
underwriting fees, discounts and nonaccountable expense allowances and the fees
of counsel to the holders of the registrable securities), register the Units
underlying the Warrant or

<PAGE>

the shares and warrants included in the Warrant in case they trade separately.
This demand registration right shall expire three years from the date of this
Agreement.

GENERAL PROVISIONS

a.         This Agreement supersedes any and all agreements, either oral or
           written, between the parties hereto with respect to the provisions of
           Services by Consultant for Company and contains all the covenants and
           agreements between the parties with respect to the rendering of such
           services in any manner whatsoever.
b.         Any modifications of this Agreement will be effective only if in
           writing and signed by both parties.
c.         If any part of the Agreement is found to be illegal or invalid by a
           legal authority that shall not affect the remainder of the Agreement,
           which should remain in full force and effect.
d.         Consultant represents and warrants to the Company that this Agreement
           and the activities of Consultant contemplated by this Agreement are
           in compliance with all applicable securities laws of the United
           States and Luxembourg. Consultant will protect, defend and indemnify
           the Company from, and hold it harmless against, all liability,
           losses, damages, costs or expenses that the Company may at any time
           suffer, incur or be required to pay by reason of the violation of the
           securities laws of the United States, Luxembourg or any other
           country, or any political subdivision thereof, as a result of
           entering into this Agreement or the activities contemplated under it.
e.         This Agreement shall be governed by the laws of the State of
           Delaware, U.S.A. The parties for themselves, and their permitted
           successors and assigns, hereby irrevocably submit to the jurisdiction
           of the federal and state courts in the State of Delaware for the
           resolution of any disputes arising under this Agreement.

AGREED TO AND ACCEPTED ON THE DATE FIRST WRITTEN ABOVE.

DELCATH SYSTEMS, INC.                     CONSULTANT

BY:  /s/ M.S. Koly                         BY: /s/ Y. Gorobets
     --------------------------------          ---------------------------------
     M.S. KOLY, PRESIDENT AND CEO              Y. GOROBETS, DIRECTOR

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00023-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00023-of-00352.parquet"}]]