Document:

Second Incremental Facility Amendment

 Exhibit 10.1 
 EXECUTION VERSION 
 SECOND INCREMENTAL FACILITY AMENDMENT (this
“Amendment”) dated as of November 30, 2012, among MOMENTIVE PERFORMANCE MATERIALS HOLDINGS INC., a Delaware corporation (“Holdings”), MOMENTIVE PERFORMANCE MATERIALS INC., a Delaware corporation
(“Intermediate Holdings”), MOMENTIVE PERFORMANCE MATERIALS USA INC., a Delaware corporation (the “U.S. Borrower”). MOMENTIVE PERFORMANCE MATERIALS GMBH, a company organized under the laws of Germany (the
“German Borrower”; the German Borrower and the U.S. Borrower, each a “Borrower”, and, collectively, the “Borrowers”), the LENDERS party hereto and JPMORGAN CHASE BANK, N.A., as administrative agent
for the Lenders (in such capacity, the “Administrative Agent”) under the AMENDED AND RESTATED CREDIT AGREEMENT dated as of February 10, 2011, among Holdings, Intermediate Holdings, the Borrowers, the Lenders party thereto from
time to time and the agents, arrangers and bookrunners party thereto (such Amended and Restated Credit Agreement, as amended by the Incremental Assumption Agreement, dated as of April 2, 2012 and by Amendment No. 1, dated as of
November 16, 2012, the “Credit Agreement”). 
 A. Pursuant to the Credit Agreement, the Lenders, the
Issuing Banks and the Swingline Lender (such terms and each other capitalized term used but not defined herein having the meaning assigned to such term in the Credit Agreement (as amended hereby)), have extended credit to the Borrowers, and have
agreed to extend credit to the Borrowers, in each case pursuant to the terms and subject to the conditions set forth therein. 

B. Pursuant to Section 2.21 of the Credit Agreement, the Borrowers have requested that the Incremental Lenders (as defined below)
provide Incremental Revolving Facility Commitments in the aggregate principal amount set forth on Schedule 1 hereto to be effective as of November 30, 2012. 
 C. The Incremental Lenders are willing to provide such Incremental Revolving Facility Commitments and to make Borrowings thereunder available to the Borrowers pursuant to the terms and subject to the
conditions set forth herein. 
 D. Pursuant to Section 2.21(b) of the Credit Agreement, each of the parties thereto agreed
that, upon the effectiveness of any Incremental Assumption Agreement, the Credit Agreement shall be amended to the extent necessary to reflect the existence and terms of the Incremental Commitments evidenced thereby, as provided for in
Section 9.08(e) of the Credit Agreement. The Administrative Agent, Holdings, Intermediate Holdings, the Borrowers and the Incremental Lenders party hereto desire to memorialize the terms of this Agreement by amending, in accordance with
Section 9.08(e) of the Credit Agreement, the Credit Agreement as set forth below, such amendment to become effective on the Second Incremental Effective Date (as defined below). 

 Accordingly, in consideration of the mutual agreements herein contained and other good and
valuable consideration, the sufficiency and receipt of which are hereby acknowledged, and subject to the conditions set forth herein, the parties hereto hereby agree as follows: 

SECTION 1. Defined Terms. As used in this Amendment, the following terms have the meanings specified below: 

“Amendment Transactions” shall mean the execution and delivery of this Amendment and the Reaffirmation Agreement (as
defined in Section 5(f) hereof) by each Person party hereto or thereto, the satisfaction of the conditions to the effectiveness hereof and thereof and the consummation of the transactions contemplated hereby and thereby. 

“Commitment Letter” shall mean the Extended Revolving Facility Commitment Letter dated October 23, 2010, by and
among the U.S. Borrower, the German Borrower, the Incremental Lenders and the other parties party thereto together with, for the avoidance of doubt, all “Extended Revolving Commitment Party Joinders” thereto. 

“Incremental Lenders” shall mean the persons listed on Schedule 1 hereto (other than any such person that has
ceased to be a party hereto pursuant to an Assignment and Acceptance in accordance with Section 9.04 of the Credit Agreement), as well as any person that becomes an “Incremental Lender” hereunder pursuant to Section 9.04 of the
Credit Agreement. 
 “Majority Commitment Parties” shall mean, at any time, Incremental Lenders having Second
Incremental Revolving Facility Commitments representing more than 50% of the sum of all Second Incremental Revolving Facility Commitments in effect at such time. 
 “Reaffirmation Agreement” shall mean a reaffirmation agreement substantially in the form of Exhibit A hereto. 

“Second Incremental Effective Date” shall mean the date on which all the conditions set forth or referred to in
Section 5 hereof shall have been satisfied (or to the extent permitted under the Credit Agreement, waived by the Administrative Agent and each of the Incremental Lenders). 

“Second Incremental Revolving Facility Commitment” shall mean, with respect to each Incremental Lender, the commitment
of such Incremental Lender to provide Incremental Revolving Facility Commitments on and following the Second Incremental Effective Date, as set forth on Schedule 1 hereto or in the Assignment and Acceptance Agreement pursuant to which such
Incremental Lender shall have assumed its Incremental Revolving Facility Commitment, as applicable. The aggregate amount of the Second Incremental Revolving Facility Commitments of all Incremental Lenders as of the date of this Amendment is $300.0
million. 

  
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 SECTION 2. Commitment. Subject to the terms and conditions set forth herein, each
Incremental Lender agrees to provide Second Incremental Revolving Facility Commitments and to make Borrowings thereunder available to the U.S. Borrower or the German Borrower, as applicable, on and following the Second Incremental Effective Date in
a principal amount not to exceed such Incremental Lender’s Second Incremental Revolving Facility Commitment and subject to the other terms and conditions set forth in the Credit Agreement. 

SECTION 3. Amendments to Section 1.01. (a) On the Second Incremental Effective Date, Section 1.01 of the Credit
Agreement shall be amended by adding the following definitions in the appropriate alphabetical order: 
 “Extended
Revolving Facility Maturity Date” shall mean December 3, 2014. 
 “Second Incremental Amendment”
shall mean the Second Incremental Facility Amendment, dated as of November 30, 2012, among Holdings, Intermediate Holdings, the Borrowers, the Incremental Lenders party thereto and the Administrative Agent. 

“Second Incremental Effective Date” shall have the meaning set forth in Section 1 of the Second Incremental
Amendment. 
 “Second Incremental Reaffirmation Agreement” shall have the meaning assigned to the term
“Reaffirmation Agreement” in Section 1 of the Second Incremental Amendment. 
 “Second Incremental
Revolving Facility Commitment” shall have the meaning set forth in Section 1 of the Second Incremental Amendment. 

“Second Incremental Revolving Facility Lender” shall mean a Lender with a Second Incremental Revolving Facility
Commitment or an outstanding Revolving Facility Loan made thereunder. 
 (b) On the Second Incremental Effective
Date the definition of the term “ABR” in Section 1.01 of the Credit Agreement shall be deleted in its entirety and replaced by the following text: 

“ABR” shall mean, for any day, a fluctuating rate per annum equal to (i) the higher of
(a) the Federal Funds Effective Rate plus  1/2 of 1% and (b) the rate of interest per annum in effect for such day as announced from time to time by JPMCB as its
“prime rate” at its principal office in New York, New York (any change in such rate announced by JPMCB shall take effect at the opening of business on the day specified in the announcement of such change), and (ii) solely with respect
to ABR Borrowings made under the Second Incremental Revolving Facility Commitments, the greatest of clauses (a) and (b) above and the Adjusted LIBO Rate for a 1-month Interest Period plus 1%. 

  
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 (c) On the Second Incremental Effective Date the definition of the term
“Applicable Commitment Fee” in Section 1.01 of the Credit Agreement shall be deleted in its entirety and replaced by the following text: 
 “Applicable Commitment Fee” shall mean for any day (a) other than in respect of Second Incremental Revolving Facility Commitments, (x) prior to the date that is 60 days after
the Amendment No. 1 Effective Date, the Applicable Commitment Fee determined pursuant to the Pricing Grid and (y) on and after the date that is 60 days after the Amendment No. 1 Effective Date, 4.00% per annum and (b) in
respect of Second Incremental Revolving Facility Commitments, (x) prior to the date that is 60 days after the Amendment No. 1 Effective Date, 0.50% per annum and (y) on and after the date that is 60 days after the Amendment
No. 1 Effective Date, 4.00% per annum. 
 (d) On the Second Incremental Effective Date the definition
of the term “Applicable Margin” in Section 1.01 of the Credit Agreement shall be deleted in its entirety and replaced by the following text: 
 “Applicable Margin” shall mean for any day (i) with respect to any Revolving Facility Loan (other than a Revolving Facility Loan made under the Second Incremental Revolving Facility
Commitments), prior to the date that is 60 days after the Amendment No. 1 Effective Date, 2.50% per annum in the case of any Eurocurrency Revolving Loan and 1.50% per annum in the case of any ABR Revolving Loan; provided, that
the Applicable Margin with respect to Revolving Facility Loans and Swingline Loans (other than, in each case, with respect to those made under the Second Incremental Revolving Facility Commitments) will be determined pursuant to the Pricing Grid
during such period, (ii) with respect to any Original Maturity Term B Loan, 2.25% per annum in the case of any Eurocurrency Term Loan and 1.50% per annum in the case of any ABR Loan, (iii) with respect to any Extended Maturity
Term B Loan, 3.50% per annum in the case of any Eurocurrency Term Loan and 2.75% per annum in the case of any ABR Loan, (iv) with respect to any Revolving Facility Loan made under the Second Incremental Revolving Facility Commitments,
prior to the date that is 60 days after the Amendment No. 1 Effective Date, 4.75% per annum in the case of any Eurocurrency Revolving Loan and 3.75% per annum in the case of any ABR Revolving Loan and (v) on and after the date
that is 60 days after the Amendment No. 1 Effective Date, 6.00% per annum in the case of any Eurocurrency Revolving Loan and 5.00% in the case of any ABR Revolving Loans. 

(e) On the Second Incremental Effective Date the definition of the term “Loan Documents” in Section 1.01
of the Credit Agreement shall be amended by inserting the text “the Second Incremental Amendment, Second Incremental Reaffirmation Agreement” immediately following the text “the Amendment Agreement,” set forth therein.

  
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 (f) On the Second Incremental Effective Date the definition of the term
“Revolving Facility Maturity Date” in Section 1.01 of the Credit Agreement shall be amended by replacing the text “and (b)” set forth therein with the text “, (b) with respect to the Second Incremental Revolving
Facility Commitments, the Extended Revolving Facility Maturity Date and (c)”. 
 SECTION 4. Amendment to
Section 3.12. On the Second Incremental Effective Date, Section 3.12 of the Credit Agreement shall be amended by inserting the text “; provided, that proceeds of Revolving Facility Loans made under the Second Incremental
Revolving Facility Commitments on the Second Incremental Effective Date may be used to refinance any other Revolving Facility Loans outstanding on the Second Incremental Effective Date.” at the end of such section. 

SECTION 5. Conditions to Amendments and Funding. The amendments to the Credit Agreement and the obligations of the Incremental
Lenders to provide the Second Incremental Revolving Facility Commitments and make the Borrowings thereunder available to the Borrowers hereunder shall not become effective until each of the following conditions is satisfied (or waived by the
Administrative Agent and each of the Incremental Lenders): 
 (a) The Administrative Agent shall have received
from Holdings, Intermediate Holdings, the Borrowers and the Incremental Lenders party hereto, either (i) a counterpart of this Amendment signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent
(which may include telecopy transmission of a signed signature page of this Amendment) that such party has signed a counterpart of this Amendment. 
 (b) The Administrative Agent shall have received, on behalf of itself, the Lenders and each Issuing Bank on or prior to the Second Incremental Effective Date, a written opinion of Paul, Weiss, Rifkind,
Wharton & Garrison LLP, special counsel for Holdings and the Borrowers, in form and substance reasonably satisfactory to the Administrative Agent and its counsel (A) dated as of the Second Incremental Effective Date, (B) addressed
to the Administrative Agent, the Lenders and each Issuing Bank as of the Second Incremental Effective Date and (C) in form and substance substantially consistent with such opinions that have been delivered in connection with prior incremental
facilities established under the Credit Agreement, and each of Holdings and each Borrower hereby instruct Paul, Weiss, Rifkind, Wharton & Garrison LLP to deliver such opinion. 

(c) The Administrative Agent shall have received a certificate from the chief financial officer of Intermediate Holdings
dated the Second Incremental Effective Date confirming the solvency of Intermediate Holdings and its subsidiaries, on a consolidated basis after giving effect to this Amendment and any Revolving Facility Loans to be made on the Second Incremental
Effective Date, in a form substantially similar to such certificates that have been provided in connection with prior Credit Events under the Credit Agreement. 

  
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 (d) On the Second Incremental Effective Date, (i) the conditions set
forth in paragraphs (b) and (c) of Section 4.01 of the Credit Agreement shall be satisfied, (ii) the Administrative Agent shall have received a certificate of a Responsible Officer of the Borrowers, dated as of the Second
Incremental Effective Date, confirming compliance with the conditions set forth in clause (i) of this paragraph (d) and (iii) all other conditions set forth in the Credit Agreement (as it may be amended, modified or waived as of the
Second Incremental Effective Date) that are applicable to the effectiveness of an Incremental Revolving Facility Commitment at such time shall be satisfied (other than with respect to Section 2.21(c)(iii) of the Credit Agreement, which is
hereby waived by the Incremental Lenders for purposes of the Second Incremental Revolving Facility Commitments). 
 (e) The Administrative Agent and the Incremental Lenders shall have received all fees and other amounts due and payable on or prior to the Second Incremental Effective Date pursuant to the Commitment
Letter in connection with the Amendment Transactions, it being agreed that the Administrative Agent and the Incremental Lenders waive their right to receive compensation pursuant to Section 2.16 of the Credit Agreement on any existing Revolving
Facility Loan of such Incremental Lenders. 
 (f) The Administrative Agent shall have received a Reaffirmation
Agreement, duly executed by the applicable Loan Parties and any other Persons party thereto and dated as of the Second Incremental Effective Date. 
 (g) No waiver, amendment or modification of the Credit Agreement or any other Loan Document shall have been effected on or prior to the Second Incremental Effective Date that by its terms adversely
affects in any material respect the Incremental Lenders differently than the Lenders participating in any other Tranche under the Credit Agreement, without the consent of the Majority Commitment Parties (it being agreed that (i) the Required
Lenders (as defined in the Credit Agreement) may waive, in whole or in part, any prepayment required by Section 2.11 of the Credit Agreement so long as the application of any prepayment still required to be made is not changed and (ii) no
such waiver, amendment or modification will modify the conditions set forth in paragraphs (b) and (c) of Section 4.01 of the Credit Agreement with respect to any Revolving Loans to be drawn under the Extended Revolving Facility
without the consent of the Majority Commitment Parties). 
 Notwithstanding the foregoing, the obligations of the Incremental Lenders to provide
the Second Incremental Revolving Facility Commitments and to make the Borrowings thereunder available to the Borrowers shall not become effective unless each of the foregoing conditions is satisfied at or prior to 5:00 p.m., New York City Time on
December 4, 2012 (and, in the event such conditions are not so satisfied, this Amendment shall terminate at such time). Upon the satisfaction of the conditions set forth in this Section 5 by such time and the effectiveness of the Second
Incremental Revolving 

  
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Facility Commitments, all commitments under and pursuant to that certain Commitment Letter, dated as of October 23, 2010, by and among Momentive Performance Materials USA Inc., Momentive
Performance Materials GmbH and the Commitment Parties thereto, shall irrevocably terminate. 
 SECTION 6. Post-Closing
Covenant. On or prior to 60 days after the Amendment No. 1 Effective Date (unless waived or extended by the Administrative Agent in its reasonable discretion), the Borrowers shall, or shall cause the applicable Loan Party to, deliver to the
Administrative Agent (i) any reaffirmation agreements, amendments to Security Documents or other agreements in each case that the Administrative Agent, in consultation with its counsel, reasonably determines are necessary to ensure the
continuation of any guarantee and the continuation and perfection of any Lien, in each case, provided for under the Loan Documents in each case in a form substantially similar to those delivered previously under the Credit Agreement,
(ii) customary written opinion of local counsel in jurisdictions consistent with opinions previously delivered under the Credit Agreement, in form and substance substantially consistent with such opinions that have been delivered previously
with a written opinion and (iii) if requested by the Administrative Agent, an updated Perfection Certificate. The Incremental Lenders hereby waive the condition for the Borrowers to deliver documents set forth in this Section 6 on the
Second Incremental Effective Date. 
 SECTION 7. Second Incremental Effective Date. On or prior to the Second Incremental
Effective Date the applicable Borrowers shall submit a Borrowing Request to the Administrative Agent for Borrowings under the Second Incremental Revolving Facility Commitments in an amount sufficient to repay on the Second Incremental Effective Date
all outstanding Revolving Facility Loans with respect to the Revolving Facility Commitments existing immediately prior to the Second Incremental Effective Date (the “Existing Revolving Facility Commitments”) and the Administrative
Agent shall apply the proceeds of such Borrowings to the repayment of such amounts. Upon the effectiveness of the Second Incremental Revolving Facility Commitments, the Existing Revolving Facility Commitments shall be terminated. In no event shall
the Second Incremental Revolving Facility Commitments and the Extended Revolving Facility Commitments be outstanding at the same time and no Revolving Facility Lender shall have obligations under both facilities under the Credit Agreement at any
time. On the Second Incremental Effective Date, all outstanding Letters of Credit issued under the Existing Revolving Facility Commitments shall be deemed issued under the Second Incremental Revolving Facility Commitments. 

SECTION 8. Representations and Warranties. The Borrowers represent and warrant to the Administrative Agent and to each of the
Incremental Lenders that: 
 (a) Each of this Amendment and the Reaffirmation Agreement has been duly
authorized, executed and delivered by each Loan Party that is party hereto or thereto and constitutes a legal, valid and binding obligation of such Loan Party enforceable against each such Loan Party in accordance with its terms, subject to
(i) the effects of bankruptcy, insolvency, moratorium, reorganization, 

  
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fraudulent conveyance or other similar laws affecting creditors’ rights generally, (ii) general principles of equity (regardless of whether such enforceability is considered in a
proceeding in equity or at law) and (iii) implied covenants of good faith and fair dealing. 
 (b) The
execution, delivery and performance by each of the Loan Parties of each of this Amendment and the Reaffirmation Agreement to which it is a party, the borrowings contemplated hereby and the consummation of the Amendment Transactions by such Loan
Party will not (i) violate (A) any provision of law, statute, rule or regulation, or of the certificate or articles of incorporation or other constitutive documents (including any partnership, limited liability company or operating
agreements) or by-laws of any such Loan Party, (B) any applicable order of any court or any rule, regulation or order of any Governmental Authority or (C) any provision of any indenture, certificate of designation for preferred stock,
agreement or other instrument to which any such Loan Party is a party or by which any of them or any of their property is or may be bound, (ii) be in conflict with, result in a breach of or constitute (alone or with notice or lapse of time or
both) a default under, give rise to a right of or result in any cancellation or acceleration of any right or obligation (including any payment) or to a loss of a material benefit under any such indenture, certificate of designation for preferred
stock, agreement or other instrument, where any such conflict, violation, breach or default referred to in clause (i) or (ii) of this Section 8(b), would reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect, or (iii) result in the creation or imposition of any Lien upon or with respect to any property or assets now owned or hereafter acquired by any such Loan Party, other than Permitted Liens. 

(c) The representations and warranties set forth in Article III of the Credit Agreement are true and correct in
all material respects on and as of the Second Incremental Effective Date, with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date (in which case such
representations and warranties shall be true and correct in all material respects as of such earlier date). 

(d) Immediately prior to and after giving effect to this Amendment, no Default or Event of Default shall have occurred
and be continuing. 
 SECTION 9. Amendments; Counterparts. This Agreement may not be amended nor may any provision hereof
be waived except pursuant to a writing signed by Holdings, Intermediate Holdings, the Borrowers, the Administrative Agent and the Incremental Lenders (and, after the Second Incremental Effective Date, any requisite Lenders required under
Section 9.08 of the Credit Agreement). This Agreement may be executed in several counterparts, each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed
counterpart of a signature page of this Agreement by telecopy or in portable document format (pdf) shall be effective as delivery of a manually executed counterpart of this Agreement. 

  
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 SECTION 10. Credit Agreement. Except as expressly set forth herein, this Amendment
shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Lenders, the Administrative Agent, the Issuing Banks, the Borrowers or any other Loan Party under the Credit Agreement or
any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed
in all respects and shall continue in full force and effect. Nothing herein shall be deemed to entitle the Borrowers to any future consent to, or waiver, amendment, modification or other change of, any of the terms, conditions, obligations,
covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances. As of the Second Incremental Effective Date, any reference to the Credit Agreement shall mean the Credit Agreement as
modified hereby. This Amendment shall constitute an “Incremental Assumption Agreement”, the Incremental Lenders shall constitute “Lenders”, this Amendment and the Reaffirmation Agreement shall constitute “Loan
Documents”, the Revolving Facility Loans made under the Second Incremental Revolving Facility Commitments shall constitute “Incremental Revolving Facility Loans” and the Second Incremental Revolving Facility Commitments shall
constitute “Incremental Revolving Facility Commitments”, in each case for all purposes of the Credit Agreement and the other Loan Documents. 
 SECTION 11. No Novation. This Amendment shall not extinguish the Loans outstanding under the Credit Agreement. Nothing herein contained shall be construed as a substitution or novation of the Loans
outstanding under the Credit Agreement, which shall remain outstanding after the Second Incremental Effective Date as modified hereby. Notwithstanding any provision of this Amendment, the provisions of Sections 2.15, 2.16, 2.17 and 9.05 of the
Credit Agreement as in effect immediately prior to the Second Incremental Effective Date will continue to be effective as to all matters arising out of or in any way related to facts or events existing or occurring prior to the Second Incremental
Effective Date. 
 SECTION 12. Notices. All notices hereunder shall be given in accordance with the provisions of
Section 9.01 of the Credit Agreement. 
 SECTION 13. APPLICABLE LAW; WAIVER OF JURY TRIAL; JURISDICTION. THIS
AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATING TO THIS AMENDEMNT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. EACH PARTY HERETO HEREBY AGREES AS SET FORTH IN SECTIONS 9.11 AND
9.15 OF THE CREDIT AGREEMENT AS IF SUCH SECTIONS WERE SET FORTH IN FULL HEREIN. 
 SECTION 14. Expenses. The Borrowers
agree to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with this Amendment (including reasonable fees, charges and disbursements of Simpson Thacher & Bartlett LLP), to the extent required by
Section 9.05 of the Credit Agreement. 

  
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 SECTION 15. Headings. The Section headings used herein are for convenience of
reference only, are not part of this Amendment and are not to affect the construction of, or to be taken into consideration in interpreting this Amendment. 
 SECTION 16. Severability. Any provision of this Amendment held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such
invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision
in any other jurisdiction. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid,
illegal or unenforceable provisions. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Incremental Assumption Agreement to
be duly executed by their respective authorized officers as of the day and year first written above. 
  

			
	MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS INC.,
		
	By:	 	/s/ Authorized Signatory
	Name:	 	
	Title:	 	

  

			
	MOMENTIVE PERFORMANCE MATERIALS INC.,
		
	By:	 	/s/ Authorized Signatory
	Name:	 	
	Title:	 	

  

			
	MOMENTIVE PERFORMANCE MATERIALS USA INC.,
		
	By:	 	/s/ Authorized Signatory
	Name:	 	
	Title:	 	

  
 [Second
Incremental Facility Amendment] 

 
			
	MOMENTIVE PERFORMANCE MATERIALS GMBH,
		
	By:	 	/s/ Authorized Signatory
	Name:	 	
	Title:	 	

  
 [Second
Incremental Facility Amendment] 

 
			
	JPMorgan Chase Bank, N.A.,
as an Incremental Lender
		
	By: 	 	/s/ Authorized Signatory
		 	Name:
		 	Title:

  

			
	BANK OF AMERICA, N.A.,
as an Incremental Lender
		
	By: 	 	/s/ Authorized Signatory
		 	Name:
		 	Title:

  

			
	Bank of Montreal, as an Incremental Lender
		
	By: 	 	/s/ Authorized Signatory
		 	Name:
		 	Title:

  

			
	CITICORP NORTH AMERICA, INC.,
as an Incremental Lender
		
	By: 	 	/s/ Authorized Signatory
		 	Name:
		 	Title:

  

			
	Credit Suisse Asset Management as
collateral manager for Atrium V
		
	By: 	 	/s/ Authorized Signatory
		 	Name:
		 	Title:

  
 [Second
Incremental Facility Amendment] 

			
	CREDIT SUISSE AG, Cayman Islands Branch,
as an Incremental Lender
		
	By: 	 	/s/ Authorized Signatory
		 	Name:
		 	Title:

  

			
	By: 	 	/s/ Authorized Signatory
		 	Name:
		 	Title:

  

			
	Deutsche Bank AG New York Branch
as an Incremental Lender
		
	By: 	 	/s/ Authorized Signatory
		 	Name:
		 	Title:

  

			
	By: 	 	/s/ Authorized Signatory
		 	Name:
		 	Title:

  

			
	GE CAPITAL CORPORATION,
as an Incremental Lender
		
	By: 	 	/s/ Authorized Signatory
		 	Name:
		 	Title:

  

			
	Goldman Sachs Lending Partners LLC,
as an Incremental Lender
		
	By: 	 	/s/ Authorized Signatory
		 	Name:
		 	Title:

  
 [Second
Incremental Facility Amendment] 

 
			
	Morgan Stanley Senior Funding, Inc.
as an Incremental Lender
		
	By: 	 	/s/ Authorized Signatory
		 	Name:
		 	Title:

  

			
	UBS LOAN FINANCE LLC,
as an Incremental Lender
		
	By: 	 	/s/ Authorized Signatory
		 	Name:
		 	Title:

  

			
	By: 	 	/s/ Authorized Signatory
		 	Name:
		 	Title:

  
 [Second
Incremental Facility Amendment] 

 SCHEDULE 1 
  

					
	 Incremental Lender
	  	Second Incremental
Revolving Facility
Commitments	 
	 General Electric Capital Corporation
	  	$	146,779,141.10	  
	 UBS Loan Finance LLC
	  	 	32,208,588.96	  
	 JPMorgan Chase Bank, N.A.
	  	 	28,987,730.06	  
	 Deutsche Bank AG New York Branch
	  	 	23,006,134.97	  
	 Goldman Sachs Lending Partners LLC
	  	 	13,803,680.98	  
	 Bank of Montreal
	  	 	13,803,680.98	  
	 Citicorp North America, Inc.
	  	 	9,202,453.99	  
	 Credit Suisse AG, Cayman Islands Branch
	  	 	9,202,453.99	  
	 Morgan Stanley Senior Funding, Inc.
	  	 	9,202,453.99	  
	 Bank of America, N.A.
	  	 	9,202,453.99	  
	 Atrium V
	  	 	4,601,226.99	  
		  	  
	  
	 
	 TOTAL
	  	$	300,000,000	  
		  	  
	  
	 

 EXHIBIT A 
 Reaffirmation Agreement 
 See attached. 

 REAFFIRMATION AGREEMENT (this “Agreement”), dated as
of November 30, 2012, among MOMENTIVE PERFORMANCE MATERIALS HOLDINGS INC., a Delaware corporation (“Holdings”), MOMENTIVE PERFORMANCE MATERIALS INC., a Delaware corporation (“Intermediate Holdings”), MOMENTIVE
PERFORMANCE MATERIALS USA INC., a Delaware corporation (the “U.S. Borrower”), MOMENTIVE PERFORMANCE MATERIALS GMBH, a company organized under the laws of Germany (the “German Borrower”; the German Borrower and the
U.S. Borrower, each a “Borrower”, and collectively, the “Borrowers”), each other subsidiary of Holdings identified on the signature pages hereto (each, a “Subsidiary Party” and the Subsidiary
Parties, Holdings, Intermediate Holdings and the Borrowers, the “Reaffirming Parties”) and JPMORGAN CHASE BANK, N.A. (“JPMCB”), as Administrative Agent under the Amended Credit Agreement referred to below.

 WHEREAS Holdings, Intermediate Holdings, the Borrowers, the Incremental Lenders (as defined in the Incremental Assumption
Agreement referred to below) and JPMCB, as Administrative Agent, have entered into the Incremental Assumption Agreement, dated as of the date hereof (the “Incremental Assumption Agreement”), which amends the Amended and Restated
Credit Agreement, dated as of February 10, 2011 (as amended by the Incremental Assumption Agreement, dated as of April 2, 2012, Amendment No. 1 to the Amended and Restated Credit Agreement, dated as of November 16, 2012, and as
further amended, supplemented and/or otherwise modified prior to the date hereof, the “Existing Credit Agreement” and, as amended by the Incremental Assumption Agreement, the “Amended Credit Agreement”), among
Holdings, Intermediate Holdings, the Borrowers, the Lenders party thereto, the Administrative Agent and the arrangers party thereto and; 
 WHEREAS each of the Reaffirming Parties is party to one or more of the Security Documents (such term and each other capitalized term used but not defined herein having the meaning assigned to such terms
in the Amended Credit Agreement); 
 WHEREAS each Reaffirming Party expects to realize, or has realized, substantial direct and
indirect benefits as a result of the Incremental Assumption Agreement becoming effective and the consummation of the transactions contemplated thereby; and 
 WHEREAS the execution and delivery of this Agreement is a condition precedent to the consummation of the transactions contemplated by the Incremental Assumption Agreement. 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows: 

  
 1 

 ARTICLE I. 
 Reaffirmation/Amendment 
 SECTION 1.01. Reaffirmation.
(a) Each of the Reaffirming Parties (i) hereby consents to the Incremental Assumption Agreement and the transactions contemplated thereby, (ii) hereby confirms its guarantees, pledges, hypothecs, grants of security interests and other
agreements, as applicable, under each of the Security Documents to which it is party and (iii) agrees that notwithstanding the effectiveness of the Incremental Assumption Agreement and the consummation of the transactions contemplated thereby,
such guarantees, pledges, hypothecs, grants of security interests and other agreements shall remain continuous and unaffected in accordance with the provisions of the Security Documents, shall continue to be in full force and effect and, other than
in respect of the Security Documents governed by Dutch law and Japanese law (which shall accrue to the benefit of the Administrative Agent), shall accrue to the benefit of the Lenders under the Amended Credit Agreement and the obligations secured
thereunder will be the obligations defined as such in the Security Documents as those obligations have been amended pursuant to the Incremental Assumption Agreement. Each of the Reaffirming Parties further agrees to take any action that may be
required or that is reasonably requested by the Administrative Agent to ensure compliance by Holdings, Intermediate Holdings and the Borrowers with Section 5.10 of the Amended Credit Agreement and hereby reaffirms its obligations under each
similar provision of each Security Document to which it is party. 
 (b) Each of the Reaffirming Parties party to each of the
Security Documents securing the Obligations of the Borrowers hereby confirms and agrees that the outstanding Term Loans, Revolving Facility Loans and Credit-Linked Deposits have constituted and continue to constitute, Loan Document Obligations (as
defined in the Guarantee Agreement). 
 (c) Notwithstanding anything herein to the contrary, in relation to any Reaffirming
Party which is incorporated in Singapore, the obligations of such Reaffirming Party under or in connection with this Agreement do not extend to, guarantee or secure any liability which would be unlawful or prohibited by Section 76 of the
Companies Act, Chapter 50 of Singapore. 
 SECTION 1.02. Amendment. On and after the effectiveness of the
Incremental Assumption Agreement, (i) each reference in each Security Document to the “Credit Agreement”, “thereunder”, “thereof” or words of like import shall mean and be a reference to the Amended Credit
Agreement, as such agreement may be amended, modified or supplemented and in effect from time to time, and (ii) the definition of any term defined in any Security Document by reference to the terms defined in the “Credit Agreement”
shall be amended to be defined by reference to the defined term in the Amended Credit Agreement, as the same may be amended, modified or supplemented and in effect from time to time. 

  
 2 

 ARTICLE II. 
 Representations and Warranties 
 Each Reaffirming Party hereby represents
and warrants, which representations and warranties shall survive execution and delivery of this Agreement, as follows: 

SECTION 2.01. Organization. Such Reaffirming Party is duly organized and validly existing in good standing under the laws of
the jurisdiction of its formation (or, if applicable in a foreign jurisdiction, enjoys the equivalent status under the laws of any jurisdiction outside the United States). 
 SECTION 2.02. Authority; Enforceability. Such Reaffirming Party has the power and authority to execute, deliver and carry out the terms and provisions of this Agreement and has taken all
necessary action to authorize the execution, delivery and performance by it of this Agreement. Such Reaffirming Party has duly executed and delivered this Agreement, and this Agreement constitutes its legal, valid and binding obligation, enforceable
against it in accordance with its terms, subject to (i) the effects of bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally, (ii) general principles of
equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and (iii) implied covenants of good faith and fair dealing. 
 SECTION 2.03. Security Documents. The representations and warranties of such Reaffirming Party contained in each Security Document are true and correct in all material respects on and as of
the date hereof with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall have been true and
correct in all material respects as of such earlier date). 
 ARTICLE III. 

Miscellaneous 
 SECTION 3.01. Notices. All notices and other communications hereunder shall be made at the addresses, in the manner and with the effect provided in Section 9.01 of the Amended Credit
Agreement, provided that, for this purpose, the address of each Reaffirming Party shall be the one specified for the U.S. Borrower under the Amended Credit Agreement. 
 SECTION 3.02. Expenses. The parties hereto acknowledge and agree that JPMCB and the Lenders shall be entitled to reimbursement of expenses as to the extent provided in Section 9.05 of the
Amended Credit Agreement. 
 SECTION 3.03. Security Document. This Agreement is a Security Document executed
pursuant to the Incremental Assumption Agreement and shall (unless otherwise expressly indicated herein) be construed, administered and applied in accordance with the terms of the Amended Credit Agreement. 

  
 3 

 SECTION 3.04. Section Captions. Section captions used in this Agreement are for
convenience of reference only and shall not affect the construction of this Agreement. 
 SECTION 3.05. Successors and
Assigns. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and assigns. 
 SECTION 3.06. Amendment. This Agreement may be waived, modified or amended only by a written agreement executed by each of the parties hereto. 

SECTION 3.07. Counterparts. This Agreement may be executed in any number of counterparts and by the different parties hereto
on separate counterparts, each of which when so executed and delivered shall be an original but all of which shall together constitute one and the same agreement. Delivery of an executed counterpart of a signature page of this Agreement by facsimile
transmission shall be as effective as delivery of a manually executed counterpart of this Agreement. 
 SECTION 3.08.
Applicable Law; Waiver of Jury Trial; Jurisdiction; Consent to Service of Process. (A) THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY
THE LAWS OF THE STATE OF NEW YORK. 
 (B) EACH PARTY HERETO HEREBY AGREES AS SET FORTH IN SECTIONS 9.11 and 9.15 OF THE
AMENDED CREDIT AGREEMENT AS IF SUCH SECTION WERE SET FORTH IN FULL HEREIN. 
 SECTION 3.09. No Novation. Neither
this Agreement nor the execution, delivery or effectiveness of the Incremental Assumption Agreement shall extinguish the obligations for the payment of money outstanding under the Existing Credit Agreement or discharge or release the Lien or
priority of any Security Document or any other security therefor. Nothing herein contained shall be construed as a substitution or novation of the obligations outstanding under the Existing Credit Agreement or instruments securing the same, which
shall remain in full force and effect, except to any extent modified hereby or by instruments executed concurrently herewith. Nothing implied in this Agreement, the Incremental Assumption Agreement or in any other document contemplated hereby or
thereby shall be construed as a release or other discharge of Holdings, Intermediate Holdings, any Borrower or any Subsidiary Party under any Security Document from any of its obligations and liabilities as “Holdings”, “Intermediate
Holdings”, a “Borrower”, the “U.S. Borrower”, the “German Borrower”, or a “Subsidiary Loan Party” under the Existing Credit Agreement or the other Security Documents. Each of the Existing Credit Agreement
and the other Security Documents shall remain in full force and effect, until (as applicable) and except to any extent modified hereby or by the Incremental Assumption Agreement or in connection herewith and therewith. 

SECTION 3.10. Limitation. With respect to any foreign Security Documents and any Foreign Pledge Agreements, notwithstanding
anything herein to the contrary, the terms and provisions of this Agreement shall apply only to the extent permitted under the governing law of 

  
 4 

 
the applicable foreign Security Document or Foreign Pledge Agreement. If any provision of this Agreement limits, qualifies or conflicts with a provision of any foreign Security Document or
Foreign Pledge Agreement, the applicable provision of such foreign Security Document or Foreign Pledge Agreement shall govern. 

*     *     *     *     * 

  
 5 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement as of the day and year
first above written. 
  

			
	MOMENTIVE PERFORMANCE MATERIALS
HOLDINGS INC.
		
	By 	 	 
		 	Name: William H. Carter
		 	Title: Executive Vice President and Chief Financial Officer

  

			
	MOMENTIVE PERFORMANCE MATERIALS INC.
		
	By 	 	 
		 	Name: William H. Carter
		 	Title: Executive Vice President and Chief Financial Officer

  

			
	MOMENTIVE PERFORMANCE MATERIALS USA INC.
		
	By 	 	 
		 	Name: George F. Knight
		 	Title: Senior Vice President and Treasurer

  

[Reaffirmation Agreement] 

 
			
	MOMENTIVE PERFORMANCE MATERIALS GMBH
		
	By 	 	 
		 	Name: George F. Knight
		 	Title: General Manager

  

[Reaffirmation Agreement] 

 
			
	MOMENTIVE PERFORMANCE MATERIALS WORLDWIDE INC.
		
	By 	 	 
		 	Name: George F. Knight
		 	Title: Senior Vice President, Chief
          Financial Officer and Treasurer

  

			
	MOMENTIVE PERFORMANCE MATERIALS CHINA SPV INC.
		
	By 	 	 
		 	Name: George F. Knight
		 	Title: Senior Vice President, Chief
          Financial Officer and Treasurer

  

			
	MPM SILICONES, LLC
		
	By 	 	 
		 	Name: George F. Knight
		 	Title: Treasurer

  

			
	MOMENTIVE PERFORMANCE MATERIALS SOUTH AMERICA INC.
		
	By 	 	 
		 	Name: George F. Knight
		 	Title: Senior Vice President and Treasurer

  

			
	MOMENTIVE PERFORMANCE MATERIALS QUARTZ, INC.
		
	By 	 	 
		 	Name: George F. Knight
		 	Title: Senior Vice President and Treasurer

  

[Reaffirmation Agreement] 

 
			
	JUNIPER BOND HOLDINGS I LLC
		
	By	 	 
		 	Name: George F. Knight
		 	Title: Senior Vice President – Finance,
          Chief Financial Officer and Treasurer

  

			
	JUNIPER BOND HOLDINGS II LLC
		
	By	 	 
		 	Name: George F. Knight
		 	Title: Senior Vice President – Finance,
          Chief Financial Officer and Treasurer

  

			
	JUNIPER BOND HOLDINGS III LLC
		
	By	 	 
		 	Name: George F. Knight
		 	Title: Senior Vice President – Finance,
          Chief Financial Officer and Treasurer

  

			
	JUNIPER BOND HOLDINGS IV LLC
		
	By	 	 
		 	Name: George F. Knight
		 	Title: Senior Vice President – Finance,
          Chief Financial Officer and Treasurer

  

[Reaffirmation Agreement] 

 
			
	MOMENTIVE PERFORMANCE MATERIALS CANADA ULC
		
	By	 	 
		 	Name: Douglas A. Johns
		 	Title: Secretary

  

[Reaffirmation Agreement] 

 
			
	MOMENTIVE PERFORMANCE MATERIALS
QUARTZ GMBH
		
	By 	 	 
		 	Name: George F. Knight
		 	Title: General Manager

  

[Reaffirmation Agreement] 

  

			
	MOMENTIVE PERFORMANCE MATERIALS
JAPAN LLC
		
	By 	 	 
		 	Name: John C. Dandolph
		 	Title: Representative

  

[Reaffirmation Agreement] 

 
			
	MOMENTIVE PERFORMANCE MATERIALS
HONG KONG LTD
		
	By 	 	 
		 	Name: John C. Dandolph
		 	Title: Director

  

[Reaffirmation Agreement] 

 
			
	MOMENTIVE PERFORMANCE MATERIALS
SUISSE SARL
		
	By 	 	 
		 	Name: George F. Knight
		 	Title: Managing Director

 
			
	
		
	By 	 	 
		 	Name:
		 	Title:

  

[Reaffirmation Agreement] 

 
			
	NAUTILUS PACIFIC TWO PTE. LTD.
		
	by 	 	 
		 	Name: Jose Luis Conde Veiga
		 	Title: Director

  

			
	NAUTILUS PACIFIC FOUR PTE. LTD.
		
	by 	 	 
		 	Name: Jose Luis Conde Veiga
		 	Title: Director

  

			
	MOMENTIVE PERFORMANCE MATERIALS
PTE. LTD.
		
	by 	 	 
		 	Name: Jose Luis Conde Veiga
		 	Title: Director

  

			
	MOMENTIVE PERFORMANCE MATERIALS
ASIA PACIFIC PTE. LTD.
		
	by 	 	 
		 	Name: Jose Luis Conde Veiga
		 	Title: Director

  

			
	TA HOLDING PTE. LTD.
		
	by 	 	 
		 	Name: Jose Luis Conde Veiga
		 	Title: Director

  

[Reaffirmation Agreement] 

 
			
	JPMORGAN CHASE BANK, N.A.,
as Administrative Agent
		
	By 	 	 
		 	Name:
		 	Title:

  

[Reaffirmation Agreement]Common Stock Purchase Agreement

 Exhibit 10.1 
 EXECUTION VERSION 
 COMMON STOCK PURCHASE AGREEMENT 

DATED AS OF DECEMBER 5, 2012 
 BY AND BETWEEN 
 DELCATH SYSTEMS, INC. 

AND 

TERRAPIN OPPORTUNITY, L.P. 

 TABLE OF CONTENTS 

 

					
	ARTICLE I PURCHASE AND SALE OF COMMON STOCK	  	 	1	  
	 Section 1.1 Purchase and Sale of Stock
	  	 	1	  
	 Section 1.2 Effective Date; Settlement Dates
	  	 	1	  
	 Section 1.3 Reservation of Common Stock
	  	 	2	  
	 Section 1.4 Current Report; Prospectus Supplement
	  	 	2	  
		
	ARTICLE II FIXED REQUEST TERMS; OPTIONAL AMOUNT	  	 	3	  
	 Section 2.1 Fixed Request Notice
	  	 	3	  
	 Section 2.2 Fixed Requests
	  	 	3	  
	 Section 2.3 Share Calculation
	  	 	5	  
	 Section 2.4 Limitation of Fixed Requests
	  	 	5	  
	 Section 2.5 Reduction of Commitment
	  	 	5	  
	 Section 2.6 Below Threshold Price
	  	 	5	  
	 Section 2.7 Settlement
	  	 	6	  
	 Section 2.8 Reduction of Pricing Period
	  	 	6	  
	 Section 2.9 Optional Amount
	  	 	7	  
	 Section 2.10 Calculation of Optional Amount Shares
	  	 	7	  
	 Section 2.11 Exercise of Optional Amount
	  	 	8	  
	 Section 2.12 Exchange Cap; Single Fixed Request Limit
	  	 	8	  
	 Section 2.13 Trading Market Regulation
	  	 	10	  
	 Section 2.14 Blackout Periods
	  	 	10	  
		
	ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE INVESTOR	  	 	12	  
	 Section 3.1 Organization and Standing of the Investor
	  	 	12	  
	 Section 3.2 Authorization and Power
	  	 	12	  
	 Section 3.3 No Conflicts
	  	 	12	  
	 Section 3.4 Information
	  	 	12	  
		
	ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE COMPANY	  	 	13	  
	 Section 4.1 Organization, Good Standing and Power
	  	 	13	  
	 Section 4.2 Authorization, Enforcement
	  	 	13	  
	 Section 4.3 Capitalization
	  	 	13	  
	 Section 4.4 Issuance of Shares
	  	 	14	  
	 Section 4.5 No Conflicts
	  	 	14	  
	 Section 4.6 Commission Documents, Financial Statements
	  	 	15	  
	 Section 4.7 Subsidiaries
	  	 	16	  
	 Section 4.8 No Material Adverse Effect
	  	 	16	  
	 Section 4.9 No Undisclosed Liabilities
	  	 	16	  
	 Section 4.10 No Undisclosed Events or Circumstances
	  	 	16	  
	 Section 4.11 Indebtedness
	  	 	17	  
	 Section 4.12 Title To Assets
	  	 	17	  
	 Section 4.13 Actions Pending
	  	 	17	  
	 Section 4.14 Compliance With Law
	  	 	18	  

  
 i 

					
	 Section 4.15 Certain Fees
	  	 	18	  
	 Section 4.16 Operation of Business
	  	 	19	  
	 Section 4.17 Environmental Compliance
	  	 	20	  
	 Section 4.18 Material Agreements
	  	 	21	  
	 Section 4.19 Transactions With Affiliates
	  	 	21	  
	 Section 4.20 Securities Act
	  	 	21	  
	 Section 4.21 Employees
	  	 	23	  
	 Section 4.22 Use of Proceeds
	  	 	23	  
	 Section 4.23 Investment Company Act Status
	  	 	23	  
	 Section 4.24 ERISA
	  	 	24	  
	 Section 4.25 Taxes
	  	 	24	  
	 Section 4.26 Insurance
	  	 	24	  
	 Section 4.27 U.S. Real Property Holding Corporation
	  	 	24	  
	 Section 4.28 Listing and Maintenance Requirements
	  	 	24	  
	 Section 4.29 Foreign Corrupt Practices Act
	  	 	25	  
	 Section 4.30 Money Laundering Laws
	  	 	25	  
	 Section 4.31 OFAC
	  	 	25	  
	 Section 4.32 Manipulation of Price
	  	 	25	  
	 Section 4.33 Acknowledgement Regarding Investor’s Acquisition of Shares
	  	 	25	  
		
	ARTICLE V COVENANTS	  	 	26	  
	 Section 5.1 Securities Compliance; FINRA Filing
	  	 	26	  
	 Section 5.2 Registration and Listing
	  	 	27	  
	 Section 5.3 Compliance with Laws
	  	 	28	  
	 Section 5.4 Due Diligence
	  	 	29	  
	 Section 5.5 Limitations on Holdings and Issuances
	  	 	29	  
	 Section 5.6 Other Agreements and Other Financings
	  	 	29	  
	 Section 5.7 Stop Orders
	  	 	31	  
	 Section 5.8 Amendments to the Registration Statement; Prospectus Supplements; Free Writing Prospectuses
	  	 	32	  
	 Section 5.9 Prospectus Delivery
	  	 	33	  
	 Section 5.10 Selling Restrictions
	  	 	34	  
	 Section 5.11 Effective Registration Statement
	  	 	34	  
	 Section 5.12 Non-Public Information
	  	 	35	  
	 Section 5.13 Broker/Dealer
	  	 	35	  
	 Section 5.14 Earnings Statement
	  	 	36	  
	 Section 5.15 Disclosure Schedule
	  	 	36	  
		
	ARTICLE VI OPINION OF COUNSEL AND CERTIFICATE; CONDITIONS TO THE SALE AND PURCHASE OF THE SHARES	  	 	36	  
	 Section 6.1 Opinion of Counsel; Certificate
	  	 	36	  
	 Section 6.2 Conditions Precedent to the Obligation of the Company
	  	 	37	  
	 Section 6.3 Conditions Precedent to the Obligation of the Investor
	  	 	38	  
		
	ARTICLE VII TERMINATION	  	 	41	  
	 Section 7.1 Term, Termination by Mutual Consent
	  	 	41	  
	 Section 7.2 Other Termination
	  	 	42	  
	 Section 7.3 Effect of Termination
	  	 	43	  

  
 ii 

					
		
	ARTICLE VIII INDEMNIFICATION	  	 	43	  
	 Section 8.1 General Indemnity
	  	 	43	  
	 Section 8.2 Indemnification Procedures
	  	 	45	  
		
	ARTICLE IX MISCELLANEOUS	  	 	46	  
	 Section 9.1 Fees and Expenses
	  	 	46	  
	 Section 9.2 Specific Enforcement, Consent to Jurisdiction, Waiver of Jury Trial
	  	 	47	  
	 Section 9.3 Entire Agreement; Amendment
	  	 	48	  
	 Section 9.4 Notices
	  	 	48	  
	 Section 9.5 Waivers
	  	 	49	  
	 Section 9.6 Headings; Construction
	  	 	49	  
	 Section 9.7 Successors and Assigns
	  	 	50	  
	 Section 9.8 Governing Law
	  	 	50	  
	 Section 9.9 Survival
	  	 	50	  
	 Section 9.10 Counterparts
	  	 	50	  
	 Section 9.11 Publicity
	  	 	50	  
	 Section 9.12 Severability
	  	 	51	  
	 Section 9.13 No Third Party Beneficiaries
	  	 	51	  
	 Section 9.14 Further Assurances
	  	 	51	  

  

					
	 Annex A.
	 	Definitions	 	

  
 iii

 COMMON STOCK PURCHASE AGREEMENT 

This COMMON STOCK PURCHASE AGREEMENT, made and entered into on this 5th day of December 2012 (this “Agreement”), by and
between Terrapin Opportunity, L.P., a limited partnership organized under the laws of the British Virgin Islands (the “Investor”), and Delcath Systems, Inc., a corporation organized and existing under the laws of the State of
Delaware (the “Company”). Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in Annex A hereto. 
 RECITALS 
 WHEREAS, the parties desire that, upon the terms and
subject to the conditions and limitations set forth herein, the Company may issue and sell to the Investor, and the Investor shall thereupon purchase from the Company, up to $35,000,000 worth of newly issued shares of the Company’s common
stock, par value $0.01 per share (“Common Stock”), subject, in all cases, to the Exchange Cap (except to the extent the Exchange Cap shall be inapplicable as expressly provided in Sections 2.12 and 2.13); and 

WHEREAS, the offer and sale of the Shares hereunder have been registered by the Company in the Registration Statement, which has
been declared effective by order of the Commission under the Securities Act. 
 NOW, THEREFORE, the parties hereto,
intending to be legally bound, hereby agree as follows: 
 ARTICLE I 

PURCHASE AND SALE OF COMMON STOCK 
 Section 1.1 Purchase and Sale of Stock. Upon the terms and subject to the conditions and limitations of this Agreement, during the Investment Period, the Company, in its discretion, may
issue and sell to the Investor up to $35,000,000 (the “Total Commitment”) worth of duly authorized, validly issued, fully paid and non-assessable shares of Common Stock (subject in all cases to the Exchange Cap (except to the extent
the Exchange Cap shall be inapplicable as expressly provided in Sections 2.12 and 2.13, the “Aggregate Limit”), by (i) the delivery to the Investor of not more than 24 separate Fixed Request Notices (unless the Investor and the
Company mutually agree that a different number of Fixed Request Notices may be delivered) as provided in Article II hereof and (ii) the exercise by the Investor of Optional Amounts, which the Company may in its discretion grant to the Investor
and which may be exercised by the Investor, in whole or in part, as provided in Article II hereof. The aggregate of all Fixed Request Amounts and Optional Amount Dollar Amounts shall not exceed the Aggregate Limit. 

Section 1.2 Effective Date; Settlement Dates. This Agreement shall become effective and binding upon the payment of
the fees required to be paid on or prior to the Effective Date pursuant to Section 9.1, the delivery of counterpart signature pages of this Agreement executed by each of the parties hereto, and the delivery of all other documents, instruments
and writings required to be delivered on the Effective Date, in each case as provided in Section 6.1 hereof, to the offices of Greenberg Traurig, LLP, 200 Park Avenue, New York, 

  
 1 

 
New York 10166, at 5:00 p.m., New York time, on the Effective Date. In consideration of and in express reliance upon the 
 representations, warranties and covenants, and otherwise upon the terms and subject to the conditions, of this Agreement, from and after the Effective Date and during the Investment Period (i) the
Company shall issue and sell to the Investor, and the Investor agrees to purchase from the Company, the Shares in respect of each Fixed Request and (ii) the Investor may in its discretion elect to purchase Shares in respect of each Optional
Amount. The issuance and sale of Shares to the Investor pursuant to any Fixed Request or Optional Amount shall occur on the applicable Settlement Date in accordance with Sections 2.7 and 2.9 (or on such Trading Day in accordance with
Section 2.8, as applicable), provided in each case that all of the conditions precedent thereto set forth in Article VI theretofore shall have been fulfilled or (to the extent permitted by applicable law) waived. 

Section 1.3 Reservation of Common Stock. The Company has or will have duly authorized and reserved for issuance, and
covenants to continue to so reserve once reserved for issuance, free of all preemptive and other similar rights, at all times during the Investment Period, the requisite aggregate number of authorized but unissued shares of its Common Stock to
timely effect the issuance, sale and delivery in full to the Investor of all Shares to be issued in respect of all Fixed Requests and Optional Amounts under this Agreement, in any case prior to the issuance to the Investor of such Shares.

 Section 1.4 Current Report; Prospectus Supplement. As soon as practicable, but in any event not later than
5:30 p.m. (New York time) on the first Trading Day immediately following the Effective Date, the Company shall file with the Commission (i) a report on Form 8-K relating to the transactions contemplated by, and describing the material terms and
conditions of, this Agreement (the “Current Report”), and (ii) a Prospectus Supplement pursuant to Rule 424(b) under the Securities Act specifically relating to the transactions contemplated by, and describing the material
terms and conditions of, this Agreement, containing information previously omitted at the time of effectiveness of the Registration Statement in reliance on Rule 430B under the Securities Act, and disclosing all information relating to the
transactions contemplated hereby required to be disclosed in the Registration Statement and the Prospectus as of the Effective Date, including, without limitation, information required to be disclosed in the section captioned “Plan of
Distribution” in the Prospectus (the “Initial Prospectus Supplement”). The Current Report shall include a copy of this Agreement as an exhibit and shall be incorporated by reference in the Registration Statement and the
Prospectus. The Company shall provide the Investor a reasonable opportunity to comment on a draft of the Current Report and the Initial Prospectus Supplement prior to filing the Current Report and Initial Prospectus Supplement with the Commission,
shall give due consideration to all such comments and shall not file the Current Report or Initial Prospectus Supplement to the extent the Investor reasonably objects to the form or content thereof (provided, however, that the
failure of the Investor to make such objection shall not relieve the Company of any obligation or liability under this Agreement or affect the Investor’s right to rely on the representations and warranties made by the Company in this
Agreement). If the transactions contemplated by any Fixed Request are material to the Company (individually or collectively with other prior Fixed Requests, the consummation of which have not previously been reported in any Prospectus Supplement
filed with the Commission under Rule 424(b) under the Securities Act or in any report, statement or other document filed by the Company with the Commission under the Exchange Act), or if otherwise required under the Securities Act (or the
interpretations of the Commission thereof), in each case 

  
 2 

 
as reasonably determined by the Company or the Investor, then, on the first Trading Day immediately 
 following the last Trading Day of the Pricing Period with respect to such Fixed Request, the Company shall file with the Commission a Prospectus Supplement pursuant to Rule 424(b) under the Securities Act
with respect to the applicable Fixed Request(s), disclosing the total number of Shares that are to be (and, if applicable, have been) issued and sold to the Investor pursuant to such Fixed Request(s), the total purchase price for the Shares subject
to such Fixed Request(s), the applicable Discount Price(s) for such Shares and the net proceeds that are to be (and, if applicable, have been) received by the Company from the sale of such Shares. To the extent not previously disclosed in a
Prospectus Supplement, the Company shall disclose in its Quarterly Reports on Form 10-Q and in its Annual Reports on Form 10-K the information described in the immediately preceding sentence relating to all Fixed Request(s) consummated during the
relevant fiscal quarter. 
 ARTICLE II 
 FIXED REQUEST TERMS; OPTIONAL AMOUNT 
 Subject to the satisfaction or (to
the extent permitted by applicable law) waiver of the conditions set forth in this Agreement, the parties agree (unless otherwise mutually agreed upon by the parties in writing) as follows: 

Section 2.1 Fixed Request Notice. The Company may, from time to time in its sole discretion, no later than 9:30 a.m.
(New York time) on the first Trading Day of the Pricing Period, provide to the Investor a Fixed Request notice, substantially in the form attached hereto as Exhibit A (the “Fixed Request Notice”), which Fixed Request Notice
shall become effective at 9:30 a.m. (New York time) on the first Trading Day of the Pricing Period specified in the Fixed Request Notice; provided, however, that if the Company delivers the Fixed Request Notice to the Investor later
than 9:30 a.m. (New York time) on a Trading Day, then the first Trading Day of such Pricing Period shall not be the Trading Day on which the Investor received such Fixed Request Notice, but rather shall be the next Trading Day (unless a subsequent
Trading Day is therein specified). The Company shall provide the Investor with at least two Trading Days’ prior notice of its intent to deliver a Fixed Request Notice to the Investor. The Fixed Request Notice shall specify the Fixed Amount
Requested, establish the Threshold Price for such Fixed Request, designate the first and last Trading Day of the Pricing Period and specify the Optional Amount, if any, that the Company elects to grant to the Investor during the Pricing Period and
the applicable Threshold Price for such Optional Amount (the “Optional Amount Threshold Price”). The Threshold Price and the Optional Amount Threshold Price established by the Company in a Fixed Request Notice may be the same or
different, in the Company’s sole discretion. Upon the terms and subject to the conditions of this Agreement, the Investor is obligated to accept each Fixed Request Notice prepared and delivered in accordance with the provisions of this
Agreement. 
 Section 2.2 Fixed Requests. From time to time during the Investment Period, the Company may, in
its sole discretion, deliver to the Investor a Fixed Request Notice for a specified Fixed Amount Requested, and the applicable discount price (the “Discount Price”) shall be determined, in accordance with the price and share amount
parameters as set forth below or such other parameters mutually agreed upon by the Investor and the Company, and upon the terms and subject to the conditions of this Agreement, the Investor shall purchase from the

  
 3 

 
Company the Shares subject to such Fixed Request Notice at the Discount Price; provided, however, that (i) if an ex-dividend date is established by the Trading Market in
respect of the Common Stock on or between the first Trading Day of the applicable Pricing Period and the applicable Settlement Date, the Discount Price shall be reduced by the per share dividend amount and (ii) unless the parties otherwise
mutually agree, the Company may not deliver any single Fixed Request Notice for a Fixed Amount Requested in excess of the lesser of (a) the amount in the applicable Fixed Amount Requested column below and (b) 4.9% of the Market
Capitalization: 
  

					
	 Threshold Price
	  	Fixed Amount Requested	  	Discount Price
	 Equal to or greater than $5.00
	  	Not to exceed $12,000,000	  	96.40% of the VWAP
	 Equal to or greater than $4.00 and less than $5.00
	  	Not to exceed $10,000,000	  	96.20% of the VWAP
	 Equal to or greater than $2.80 and less than $4.00
	  	Not to exceed $6,500,000	  	96.00% of the VWAP
	 Equal to or greater than $2.50 and less than $2.80
	  	Not to exceed $6,000,000	  	95.80% of the VWAP
	 Equal to or greater than $2.25 and less than $2.50
	  	Not to exceed $5,500,000	  	95.60% of the VWAP
	 Equal to or greater than $1.95 and less than $2.25
	  	Not to exceed $5,000,000	  	95.40% of the VWAP
	 Equal to or greater than $1.65 and less than $1.95
	  	Not to exceed $4,500,000	  	95.20% of the VWAP
	 Equal to or greater than $1.40 and less than $1.65
	  	Not to exceed $4,000,000	  	95.00% of the VWAP
	 Equal to or greater than $1.25 and less than $1.40
	  	Not to exceed $3,500,000	  	94.80% of the VWAP
	 Equal to or greater than $1.05 and less than $1.25
	  	Not to exceed $3,000,000	  	94.60% of the VWAP
	 Equal to or greater than $0.90 and less than $1.05
	  	Not to exceed $2,500,000	  	94.40% of the VWAP
	 Equal to or greater than $0.70 and less than $0.90
	  	Not to exceed $2,000,000	  	94.20% of the VWAP

 Anything to the contrary in this Agreement notwithstanding, unless otherwise mutually agreed upon by the
Investor and the Company, at no time shall the Investor be required to purchase more than $12,000,000 worth of Common Stock in respect of any Pricing Period (not including Common Stock subject to any Optional Amount). The date on which the Company
delivers any Fixed Request Notice in accordance with this Section 2.2 hereinafter shall be referred to as a “Fixed Request Exercise Date”. 

  
 4 

 Section 2.3 Share Calculation. With respect to each Trading Day during
the applicable Pricing Period for which the VWAP equals or exceeds the Threshold Price, the number of Shares to be issued by the Company to the Investor pursuant to a Fixed Request shall equal the quotient (calculated for each Trading Day during the
applicable Pricing Period for which the VWAP equals or exceeds the Threshold Price) determined pursuant to the following equation (rounded to the nearest whole Share): 
 N = (A x B)/C, where: 
 N = the number of Shares to be issued by the Company to the Investor in
respect of a Trading Day during the applicable Pricing Period for which the VWAP equals or exceeds the Threshold Price, 
 A = 0.10 (the
“Multiplier”), provided, however, that if the Company and the Investor mutually agree prior to the commencement of a Pricing Period that the number of consecutive Trading Days constituting a Pricing Period shall be
less than 10, then the Multiplier correspondingly shall be increased to equal the decimal equivalent (in 10-millionths) of a fraction, the numerator of which is one and the denominator of which equals the number of Trading Days in the reduced
Pricing Period (it being hereby acknowledged and agreed that this proviso shall not apply to any unilateral determination by the Company to reduce a Pricing Period, but rather, in the event of such unilateral determination, Section 2.8 hereof
shall apply), 
 B = the total Fixed Amount Requested, and 
 C = the applicable Discount Price for such Trading Day. 
 Section 2.4
Limitation of Fixed Requests. The Company shall not make more than one Fixed Request in each Pricing Period. Not less than five Trading Days shall elapse between the end of one Pricing Period and the commencement of any other Pricing
Period during the Investment Period. There shall be permitted a maximum of 24 Fixed Requests during the Investment Period. Each Fixed Request automatically shall expire immediately following the last Trading Day of each Pricing Period. 

Section 2.5 Reduction of Commitment. On the Settlement Date with respect to a Pricing Period, the Investor’s
Total Commitment under this Agreement automatically (and without the need for any amendment to this Agreement) shall be reduced, on a dollar-for-dollar basis, by the total amount of the Fixed Request Amount and the Optional Amount Dollar Amount, if
any, for such Pricing Period paid to the Company at such Settlement Date. 
 Section 2.6 Below Threshold
Price. If the VWAP on any Trading Day in a Pricing Period is lower than the Threshold Price, then for each such Trading Day the Fixed Amount Requested shall be reduced, on a dollar-for-dollar basis, by an amount equal to the product of
(x) the Multiplier and (y) the total Fixed Amount Requested, and no Shares shall be purchased or sold with respect to such Trading Day, except as provided below. If trading in the Common Stock on NASDAQ (or any other Trading Market on
which the Common Stock is then listed or quoted) is suspended for any reason for more than three hours on any Trading Day, the Investor may at its option deem the price of the Common Stock to be lower than the Threshold Price for such Trading Day
and, for each such Trading Day, the total amount of the Fixed Amount Requested shall be reduced as provided in the immediately preceding sentence, and no Shares shall be purchased or sold with respect to such Trading Day, except as provided below.
For each Trading Day during a Pricing Period on which the VWAP is lower (or is deemed to be lower as provided in the immediately preceding sentence) than the Threshold Price, the Investor may in its sole discretion elect to purchase such U.S. dollar
amount of Shares equal to the amount by which the Fixed Amount Requested has been reduced in accordance with this Section 2.6, at the 

  
 5 

 
Threshold Price multiplied by the applicable percentage set forth in the column entitled “Discount Price” for the row corresponding to the applicable Threshold Price in
Section 2.2. The Investor shall inform the Company via facsimile transmission not later than 8:00 p.m. (New York time) on the last Trading Day of such Pricing Period as to the number of Shares, if any, the Investor elects to purchase as
provided in this Section 2.6. 
 Section 2.7 Settlement. The payment for, against simultaneous delivery
of, Shares in respect of each Fixed Request shall be settled on the second Trading Day next following the last Trading Day of each Pricing Period, or on such earlier date as the parties may mutually agree (the “Settlement Date”). On
each Settlement Date, the Company shall, or shall cause its transfer agent to, electronically transfer the Shares purchased by the Investor by crediting the Investor’s or its designees’ account at DTC through its Deposit/Withdrawal at
Custodian (DWAC) system, which Shares shall be freely tradable and transferable and without restriction on resale, against simultaneous payment therefor to the Company’s designated account by wire transfer of immediately available funds;
provided that if the Shares are received by the Investor later than 1:00 p.m. (New York time), payment therefor shall be made with next day funds. As set forth in Section 9.1(ii), a failure by the Company to deliver such Shares shall
result in the payment of partial damages by the Company to the Investor. 
 Section 2.8 Reduction of Pricing
Period. If during a Pricing Period the Company elects to reduce the number of Trading Days in such Pricing Period (and thereby amend its previously delivered Fixed Request Notice), the Company shall so notify the Investor before 9:00 a.m.
(New York time) on any Trading Day during a Pricing Period (a “Reduction Notice”) and the last Trading Day of such Pricing Period shall be the Trading Day immediately preceding the Trading Day on which the Investor received such
Reduction Notice; provided, however, that if the Company delivers the Reduction Notice later than 9:00 a.m. (New York time) on a Trading Day during a Pricing Period, then the last Trading Day of such Pricing Period instead shall be the
Trading Day on which the Investor received such Reduction Notice. 
 Upon receipt of a Reduction Notice, the Investor
(i) shall purchase the Shares in respect of each Trading Day in such reduced Pricing Period for which the VWAP equals or exceeds the Threshold Price in accordance with Section 2.3 hereof; (ii) may elect to purchase the Shares in
respect of any Trading Day in such reduced Pricing Period for which the VWAP is (or is deemed to be) lower than the Threshold Price in accordance with Section 2.6 hereof; and (iii) may elect to exercise all or any portion of an Optional
Amount on any Trading Day during such reduced Pricing Period in accordance with Sections 2.10 and 2.11 hereof. 
 In addition,
upon receipt of a Reduction Notice, the Investor may elect to purchase, by providing written notice to the Company not later than 10:00 a.m. (New York time) on the first Trading Day following the last Trading Day of the reduced Pricing Period, such
U.S. dollar amount of additional Shares equal to the product determined pursuant to the following equation: 
 D = (A/B) x (B – C), where:

 D = the U.S. dollar amount of additional Shares to be purchased, 
 A = the Fixed Amount Requested, 
 B = 10 or, for purposes of this Section 2.8, such lesser
number of Trading Days as the parties may mutually agree to, and 
 C = the number of Trading Days in the reduced Pricing Period, 

  
 6 

 at a per Share price equal to the average per share price to be paid for Shares to be purchased during such
reduced Pricing Period pursuant to clauses (i) and (ii) (as applicable) of the immediately preceding paragraph. 
 The
Investor may also elect to exercise any portion of the applicable Optional Amount which was unexercised during the reduced Pricing Period by issuing an Optional Amount Notice to the Company not later than 10:00 a.m. (New York time) on the first
Trading Day next following the last Trading Day of the reduced Pricing Period. The number of Shares to be issued upon exercise of such Optional Amount shall be calculated pursuant to the equation set forth in Section 2.10 hereof, except that
“C” shall equal the greater of (i) the VWAP for the Common Stock on the last Trading Day of the reduced Pricing Period or (ii) the Optional Amount Threshold Price. 

The payment for, against simultaneous delivery of, Shares to be purchased and sold in accordance with this Section 2.8 shall be
settled on the second Trading Day next following the Trading Day on which the Investor receives a Reduction Notice. 

Section 2.9 Optional Amount. With respect to any Pricing Period, the Company may in its sole discretion grant to the
Investor the right to exercise, from time to time during the Pricing Period (but not more than once on any Trading Day), all or any portion of an Optional Amount. The maximum Optional Amount Dollar Amount and the Optional Amount Threshold Price
shall be set forth in the Fixed Request Notice. If an ex-dividend date is established by the Trading Market in respect of the Common Stock on or between the first Trading Day of the applicable Pricing Period and the applicable Settlement Date, the
applicable exercise price in respect of the Optional Amount shall be reduced by the per share dividend amount. Each daily Optional Amount exercise shall be aggregated during the Pricing Period and settled on the next Settlement Date. The Optional
Amount Threshold Price designated by the Company in its Fixed Request Notice shall apply to each Optional Amount exercised during the applicable Pricing Period. 
 Section 2.10 Calculation of Optional Amount Shares. The number of shares of Common Stock to be issued in connection with the exercise of an Optional Amount shall be the quotient
determined pursuant to the following equation (rounded to the nearest whole Share): 
 O = A/(B x C), where: 

O = the number of shares of Common Stock to be issued in connection with such Optional Amount exercise, 

A = the Optional Amount Dollar Amount with respect to which the Investor has delivered an Optional Amount Notice, 

B = the applicable percentage set forth in the column entitled “Discount Price” for the row corresponding to the applicable Threshold Price in
Section 2.2 (with the Optional Amount Threshold Price serving as the Threshold Price for such purposes), and 
 C = the greater of
(i) the VWAP for the Common Stock on the day the Investor delivers the Optional Amount Notice or (ii) the Optional Amount Threshold Price. 

  
 7 

 Section 2.11 Exercise of Optional Amount. If granted by the Company to
the Investor with respect to a Pricing Period, all or any portion of the Optional Amount may be exercised by the Investor on any Trading Day during the Pricing Period, subject to the limitations set forth in Section 2.9. As a condition to each
exercise of an Optional Amount pursuant to this Section 2.11, the Investor shall issue an Optional Amount Notice to the Company no later than 8:00 p.m. (New York time) on the day of such Optional Amount exercise. If the Investor does not
exercise an Optional Amount in full by 8:00 p.m. (New York time) on the last Trading Day of the applicable Pricing Period, such unexercised portion of the Investor’s Optional Amount with respect to that Pricing Period automatically shall lapse
and terminate. 
 Section 2.12 Exchange Cap; Single Fixed Request Limit. Notwithstanding anything to the
contrary contained in this Agreement, subject to Section 2.13 below, (i) the Company shall not issue or sell any shares of Common Stock pursuant to this Agreement (including, without limitation, as partial damages pursuant to
Section 9.1(ii)), and the Investor shall not purchase or acquire any shares of Common Stock pursuant to this Agreement, to the extent that after giving effect thereto, the aggregate number of shares of Common Stock that would be issued pursuant
to this Agreement would exceed the Exchange Cap, and (ii) the Company shall not issue or sell any shares of Common Stock pursuant to any single Fixed Request or Optional Amount (including, without limitation, as partial damages pursuant to
Section 9.1(ii)), and the Investor shall not purchase or acquire any shares of Common Stock pursuant to any single Fixed Request or Optional Amount, to the extent that after giving effect thereto, the aggregate number of shares of Common Stock
that would be issued pursuant to such Fixed Request and Optional Amount would exceed the Single Fixed Request Limit (taking into account all shares of Common Stock issued or issuable pursuant to any transaction or series of transactions that may be
aggregated with the transactions contemplated by such Fixed Request and Optional Amount under applicable rules of NASDAQ or any other Trading Market on which the Common Stock may be listed or quoted), in each case, unless and until the stockholders
of the Company have approved the transactions contemplated by this Agreement in accordance with the applicable rules and regulations of NASDAQ, any other Trading Market on which the Common Stock may be listed or quoted, and the Charter and Bylaws of
the Company. For the avoidance of doubt, the Company may, but shall be under no obligation to, solicit stockholder approval of the transactions contemplated by this Agreement; provided, that if stockholder approval of the transactions
contemplated hereby is not obtained, each of the Exchange Cap and the Single Fixed Request Limit shall be applicable for all purposes of this Agreement and the transactions contemplated hereby at all times during the term of this Agreement (except
as set forth in Section 2.13 below). If the Company issues a Fixed Request Notice or Optional Amount that otherwise would permit the Investor to purchase shares of Common Stock which would cause the aggregate purchases by the Investor under
this Agreement to exceed the Aggregate Limit, such Fixed Request Notice or Optional Amount shall be void ab initio to the extent of the amount by which the dollar value of shares or number of shares, as the case may be, of Common Stock
otherwise issuable pursuant to such Fixed Request Notice or Optional Amount together with the dollar value of shares or number of shares, as the case may be, of all other Common Stock purchased by the Investor pursuant to this Agreement, or issued
as partial damages pursuant to Section 9.1(ii), would exceed the Aggregate Limit. If the Company issues a Fixed Request Notice or Optional Amount that otherwise would permit the Investor to purchase shares of Common Stock which, when aggregated
with all other shares of Common Stock issued or sold pursuant to any transaction or series of transactions that may be aggregated with the transactions contemplated by such Fixed Request Notice and Optional Amount under applicable rules of NASDAQ or
any other Trading Market on which the Common Stock may be listed or quoted, would exceed the Single Fixed Request Limit, such Fixed Request Notice or Optional Amount, as the case may be, shall be void ab initio to the extent of the amount by
which the number of shares of Common 

  
 8 

 
Stock otherwise issuable pursuant to such Fixed Request Notice or Optional Amount, as the case may be, together with all shares of Common Stock issued pursuant to all such other aggregated
transactions, would exceed the Single Fixed Request Limit. The Company hereby represents, warrants and covenants that neither it nor any of its Subsidiaries (i) has effected any transaction or series of transactions, (ii) is a party to any
pending transaction or series of transactions or (iii) shall enter into any contract, agreement, agreement-in-principle, arrangement or understanding with respect to, or shall effect, any Other Financing which, in any of such cases, may be
aggregated with the transactions contemplated by this Agreement for purposes of determining whether approval of the Company’s stockholders is required under applicable rules of NASDAQ or any other Trading Market on which the Common Stock may be
listed or quoted; provided, however, that the Company shall be permitted to take any action referred to in clause (iii) of this sentence if (a) the Company has timely provided the Investor with an Integration Notice as
provided in Section 5.6(ii) hereof and (b) unless the Investor has previously terminated this Agreement pursuant to Section 7.2, the Company obtains any requisite stockholder approval which may be required for the Company to
consummate such Other Financing described in such Integration Notice. 
 At the Company’s sole discretion, and effective
automatically upon delivery of notice thereof by the Company to the Investor, this Agreement may be amended by the Company from time to time to reduce the Total Commitment by a specified dollar amount as shall be determined by the Company in its
sole discretion; provided, however, that any such amendment of this Agreement (and any such purported amendment) shall be void and of no force and effect if the effect thereof would restrict, materially delay, conflict with or impair
the ability or right of the Company to perform its obligations under this Agreement, including, without limitation, the obligation of the Company to deliver the Shares to the Investor in respect of a previously delivered Fixed Request Notice or
Optional Amount on the applicable Settlement Date. In the event the Company shall have elected to reduce the Total Commitment as provided in the immediately preceding sentence, at the Company’s sole discretion, and effective automatically upon
delivery of notice thereof by the Company to the Investor, the Company may subsequently amend this Agreement to increase the Total Commitment up to $35,000,000; provided, however, that in no event shall the Company be entitled to issue
Fixed Request Notices and grant Optional Amounts during the remainder of the Investment Period for an aggregate amount greater than the amount obtained by subtracting (x) the aggregate of all Fixed Request Amounts and Optional Amount Dollar
Amounts (including any amounts paid as partial damages pursuant to Section 9.1(ii) hereunder) covered by all Fixed Request Notices and Optional Amounts theretofore issued or granted by the Company in respect of which a settlement has occurred
pursuant to Section 2.7 from (y) $35,000,000, subject, in all cases, to the Exchange Cap (except to the extent the Exchange Cap shall be inapplicable as expressly provided in Sections 2.12 and 2.13). 

  
 9 

 Section 2.13 Trading Market Regulation. Notwithstanding anything in this
Agreement to the contrary, neither the Exchange Cap nor the Single Fixed Request Limit shall be applicable for any purposes of this Agreement or the transactions contemplated hereby, solely to the extent (and only for so long as) the Average
Discount Price shall equal or exceed the Base Price (it being hereby acknowledged and agreed that each of the Exchange Cap and the Single Fixed Request Limit shall be applicable for all purposes of this Agreement and the transactions contemplated
hereby at all other times during the term of this Agreement); provided, however, that the Company shall not issue any shares of Common Stock under this Agreement if such issuance would otherwise breach the Company’s obligations
under the rules and regulations of NASDAQ or any other Trading Market on which the Common Stock may be listed or quoted. “Base Price” shall mean a price per Share equal to $1.46, representing the consolidated closing bid price of
the Common Stock as reported on NASDAQ on the Effective Date, subject to (a) upward adjustment (by such amount to be mutually agreed by the Company and the Investor consistent with the rules and regulations of NASDAQ or any other Trading Market
on which the Common Stock may be listed or quoted) in the event any shares of Common Stock are issued by the Company as partial damages pursuant to Section 9.1(ii) and (b) adjustment for any stock splits, stock combinations, stock
dividends, recapitalizations and other similar transactions that occur on or after the date of this Agreement. The Company hereby represents and warrants to the Investor that the book value per share of Common Stock on the Effective Date is less
than the Base Price. “Average Discount Price” shall mean a price per Share (rounded to the nearest tenth of a cent) equal to the quotient obtained by dividing (i) the total aggregate gross purchase price paid by the Investor
for all Shares purchased pursuant to all Fixed Requests and Optional Amounts under this Agreement, by (ii) the total aggregate number of Shares issued pursuant to all Fixed Requests and Optional Amounts under this Agreement. The provisions of
this Section 2.13 shall be implemented in a manner otherwise than in strict conformity with the terms of this Section 2.13, only if necessary to ensure compliance with the rules and regulations of NASDAQ or any other Trading Market on
which the Common Stock may be listed or quoted. 
 Section 2.14 Blackout Periods. Notwithstanding any other
provision of this Agreement, the Company shall not deliver any Fixed Request Notice or grant any Optional Amount or otherwise offer or sell Shares to the Investor, and the Investor shall not be obligated to purchase any Shares pursuant to this
Agreement, (i) during any period in which the Company is, or may be deemed to be, in possession of material non-public information, (ii) during each period beginning the last day of any fiscal quarter until the Filing Time (each such
period, a “Blackout Period”), except with respect to this clause (ii) as expressly provided in the immediately following sentence, or (iii) except as expressly provided in this Section 2.14, at any time from and
including the date (each, an “Announcement Date”) on which the Company shall issue a press release containing, or shall otherwise publicly announce, its earnings, revenues or other results of operations (each, an “Earnings
Announcement”) through and including the time 

  
 10 

 
that is 24 hours after the time that the Company files (a “Filing Time”) a Quarterly Report on Form 10-Q or an Annual Report on Form 10-K that includes consolidated financial
statements as of and for the same period or periods, as the case may be, covered by such Earnings Announcement. If the Company wishes to deliver any Fixed Request Notice or grant any Optional Amount or otherwise offer, sell or deliver Shares to the
Investor during any Blackout Period, the Company shall, as conditions thereto, (A) provide the Investor with the compliance certificate substantially in the form attached hereto as Exhibit D, dated the date of such Fixed Request Notice
or Optional Amount grant, as applicable, which certificate shall be deemed to remain in effect during the applicable Pricing Period through and including the applicable Settlement Date, and the “bring down” opinions and comfort letters in
the form mutually agreed to by the parties hereto, dated the date of such Fixed Request Notice or Optional Amount grant, as applicable, and (B) afford the Investor the opportunity to conduct a due diligence review in accordance with
Section 5.4 hereof. If the Company wishes to deliver any Fixed Request Notice or grant any Optional Amount or otherwise offer, sell or deliver Shares to the Investor at any time during the period from and including an Announcement Date through
and including the time that is 24 hours after the corresponding Filing Time, the Company shall, as conditions thereto, (1) prepare and deliver to the Investor (with a copy to counsel to the Investor) a report on Form 8-K which shall include
substantially the same financial and related information as was set forth in the relevant Earnings Announcement (other than any earnings or other projections, similar forward-looking data and officers’ quotations) (each, an “Earnings
8-K”), in form and substance reasonably satisfactory to the Investor and its counsel, (2) provide the Investor with the compliance certificate substantially in the form attached hereto as Exhibit D, dated the date of such Fixed
Request Notice or Optional Amount grant, as applicable, which certificate shall be deemed to remain in effect during the applicable Pricing Period through and including the applicable Settlement Date, and the “bring down” opinions and
comfort letters in the form mutually agreed to by the parties hereto, dated the date of such Fixed Request Notice or Optional Amount grant, as applicable, (3) afford the Investor the opportunity to conduct a due diligence review in accordance
with Section 5.4 hereof and (4) file such Earnings 8-K with the Commission (so that it is deemed “filed” for purposes of Section 18 of the Exchange Act) on or prior to the date of such Fixed Request Notice or Optional Amount
grant, as applicable. The provisions of clause (iii) of this Section 2.14 shall not be applicable for the period from and after the time at which all of the conditions set forth in the immediately preceding sentence shall have been
satisfied (or, if later, the time that is 24 hours after the time that the relevant Earnings Announcement was first publicly released) through and including the time that is 24 hours after the Filing Time of the relevant Quarterly Report on Form
10-Q or Annual Report on Form 10-K, as the case may be. For purposes of clarity, the parties agree that the delivery of the compliance certificate and the “bring down” opinions pursuant to this Section 2.14 shall not relieve the
Company from any of its obligations under this Agreement with respect to the delivery of the compliance certificate called for by Section 6.3(v) and the “bring down” opinions called for by Section 6.3(xii) on the applicable
Settlement Date, which Sections shall have independent application. 

  
 11 

 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES OF THE INVESTOR 
 The Investor hereby makes
the following representations and warranties to the Company: 
 Section 3.1 Organization and Standing of the
Investor. The Investor is a limited partnership duly organized, validly existing and in good standing under the laws of the British Virgin Islands. 
 Section 3.2 Authorization and Power. The Investor has the requisite corporate power and authority to enter into and perform its obligations under this Agreement and to purchase the
Shares in accordance with the terms hereof. The execution, delivery and performance of this Agreement by the Investor and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary corporate action, and
no further consent or authorization of the Investor, its Board of Directors or stockholders is required. This Agreement has been duly executed and delivered by the Investor. This Agreement constitutes a valid and binding obligation of the Investor
enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation, conservatorship, receivership, or similar laws relating to, or affecting
generally the enforcement of, creditor’s rights and remedies or by other equitable principles of general application. 

Section 3.3 No Conflicts. The execution, delivery and performance by the Investor of this Agreement and the
consummation by the Investor of the transactions contemplated herein do not and shall not (i) result in a violation of such Investor’s charter documents, bylaws or other applicable organizational instruments, (ii) conflict with,
constitute a default (or an event which, with notice or lapse of time or both, would become a default) under, or give rise to any rights of termination, amendment, acceleration or cancellation of, any material agreement, mortgage, deed of trust,
indenture, note, bond, license, lease agreement, instrument or obligation to which the Investor is a party or is bound, (iii) create or impose any lien, charge or encumbrance on any property of the Investor under any agreement or any commitment
to which the Investor is party or under which the Investor is bound or under which any of its properties or assets are bound, or (iv) result in a violation of any federal, state, local or foreign statute, rule, or regulation, or any order,
judgment or decree of any court or governmental agency applicable to the Investor or by which any of its properties or assets are bound or affected, except, in the case of clauses (ii), (iii) and (iv), for such conflicts, defaults,
terminations, amendments, acceleration, cancellations and violations as would not, individually or in the aggregate, prohibit or otherwise interfere with the ability of the Investor to enter into and perform its obligations under this Agreement in
any material respect. The Investor is not required under federal, state, local or foreign law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in order
for it to execute, deliver or perform any of its obligations under this Agreement or to purchase the Shares in accordance with the terms hereof. 
 Section 3.4 Information. All materials relating to the business, financial condition, management and operations of the Company and materials relating to the offer and sale of the Shares
which have been requested by the Investor have been furnished or otherwise made available to the Investor or its advisors (subject to Section 5.12 of this Agreement). The Investor and its advisors have been afforded the opportunity to ask
questions of representatives of the Company. The Investor has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision with respect to its acquisition of the Shares. The Investor understands
that it (and not the Company) shall be responsible for its own tax liabilities that may arise as a result of this investment or the transactions contemplated by this Agreement. The Investor is aware of all of its obligations under U.S. federal and
applicable state securities laws and all rules and regulations promulgated thereunder in connection with this Agreement and the transactions contemplated hereby and the purchase and sale of the Shares. 

  
 12 

 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES OF THE COMPANY 
 Except as set forth in the
Commission Documents or the disclosure schedule delivered by the Company to the Investor (which is hereby incorporated by reference in, and constitutes an integral part of, this Agreement) (the “Disclosure Schedule”), the Company
hereby makes the following representations and warranties to the Investor: 
 Section 4.1 Organization, Good Standing
and Power. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has the requisite corporate power and authority to own, lease and operate its properties and assets and
to conduct its business as it is now being conducted. The Company and each Subsidiary is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction in which the nature of the business conducted or property
owned by it makes such qualification necessary, except to the extent that the failure to be so qualified would not have a Material Adverse Effect. 
 Section 4.2 Authorization, Enforcement. The Company has the requisite corporate power and authority to enter into and perform this Agreement and to issue and sell the Shares in
accordance with the terms hereof. Except for approvals of the Company’s Board of Directors or a committee thereof as may be required in connection with any issuance and sale of Shares to the Investor hereunder (which approvals shall be obtained
prior to the delivery of any Fixed Request Notice), the execution, delivery and performance by the Company of this Agreement and the consummation by it of the transactions contemplated hereby have been duly and validly authorized by all necessary
corporate action and no further consent or authorization of the Company or its Board of Directors or stockholders is required. This Agreement has been duly executed and delivered by the Company and constitutes a valid and binding obligation of the
Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation, conservatorship, receivership or similar laws relating
to, or affecting generally the enforcement of, creditor’s rights and remedies or by other equitable principles of general application. 
 Section 4.3 Capitalization. The authorized capital stock of the Company and the shares thereof issued and outstanding were as set forth in the Commission Documents as of the dates
reflected therein. All of the outstanding shares of Common Stock have been duly authorized and validly issued, and are fully paid and nonassessable. No shares of Common Stock are entitled to preemptive rights and there are no outstanding debt
securities and no contracts, commitments, understandings, or arrangements by which the Company is or may become bound to issue additional shares of the capital stock of the Company or options, warrants, scrip, rights to subscribe to, calls or
commitments of any character whatsoever relating to, or securities or rights convertible into or exchangeable for, any shares of capital stock of the Company other than those issued or granted in the ordinary course of business pursuant to the
Company’s equity 

  
 13 

 
incentive and/or compensatory plans or arrangements. Except for customary transfer restrictions contained in agreements entered into by the Company, the Company is not a party to, and it has no
Knowledge of, any agreement restricting the voting or transfer of any shares of the capital stock of the Company. The offer and sale of all capital stock, convertible or exchangeable securities, 

rights, warrants or options of the Company issued prior to the Effective Date complied, in all material respects, with all applicable federal and state
securities laws, and no stockholder has any right of rescission or damages or any “put” or similar right with respect thereto that would have a Material Adverse Effect. The Company has made available via the Commission’s Electronic
Data Gathering, Analysis and Retrieval System (“EDGAR”) true and correct copies of the Company’s Certificate of Incorporation as in effect on the Effective Date (the “Charter”), and the Company’s Bylaws as
in effect on the Effective Date (the “Bylaws”). 
 Section 4.4 Issuance of Shares. The
Shares to be issued under this Agreement have been or will be (prior to the delivery of any Fixed Request Notice to the Investor hereunder), duly authorized by all necessary corporate action on the part of the Company. The Shares, when paid for in
accordance with the terms of this Agreement, shall be validly issued and outstanding, fully paid and nonassessable and free from all liens, charges, taxes, security interests, encumbrances, rights of first refusal, preemptive or similar rights and
other encumbrances with respect to the issue thereof. 
 Section 4.5 No Conflicts. The execution, delivery
and performance by the Company of this Agreement and the consummation by the Company of the transactions contemplated hereby do not and shall not (i) result in a violation of any provision of the Company’s Charter or Bylaws,
(ii) conflict with, constitute a default (or an event which, with notice or lapse of time or both, would become a default) under, or give rise to any rights of termination, amendment, acceleration or cancellation of, any material agreement,
mortgage, deed of trust, indenture, note, bond, license, lease agreement, instrument or obligation to which the Company or any of its Significant Subsidiaries is a party or is bound, (iii) create or impose a lien, charge or encumbrance on any
property or assets of the Company or any of its Significant Subsidiaries under any agreement or any commitment to which the Company or any of its Significant Subsidiaries is a party or by which the Company or any of its Significant Subsidiaries is
bound or to which any of their respective properties or assets is subject, or (iv) result in a violation of any federal, state, local or foreign statute, rule, regulation, order, judgment or decree applicable to the Company or any of its
Subsidiaries or by which any property or asset of the Company or any of its Subsidiaries are bound or affected (including federal and state securities laws and regulations and the rules and regulations of the Trading Market), except, in the case of
clauses (ii), (iii) and (iv), for such conflicts, defaults, terminations, amendments, acceleration, cancellations, liens, charges, encumbrances and violations as would not, individually or in the aggregate, have a Material Adverse Effect. The
Company is not required under any applicable federal, state, local or foreign law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in order for it to
execute, deliver or perform any of its obligations under this Agreement, or to issue and sell the Shares to the Investor in accordance with the terms hereof other than any filings which may be required to be made by the Company with the Commission
(including, but not limited to, a Prospectus Supplement under Section 1.4 of this Agreement), under the securities or “Blue Sky” laws of U.S. state or non-U.S. jurisdictions or other non-U.S. laws applicable to the purchase of the
Shares outside the U.S. in connection with transactions contemplated hereby, the Financial Industry Regulatory Authority (“FINRA”) or the Trading Market subsequent to the Effective Date. 

  
 14 

 Section 4.6 Commission Documents, Financial Statements . (a) The Company
has timely filed (giving effect to permissible extensions in accordance with Rule 12b-25 under the Exchange Act) all Commission Documents. The Company has made available via EDGAR true and complete copies of the Commission Documents filed with or
furnished to the Commission prior to the Effective Date (including, without limitation, the 2011 Form 10-K) and has made available via EDGAR true and complete copies of all of the Commission Documents heretofore incorporated by reference in the
Registration Statement and the Prospectus. No Subsidiary of the Company is required to file or furnish any report, schedule, registration, form, statement, information or other document with the Commission. The Company has not provided to the
Investor any information which, according to applicable law, rule or regulation, was required to have been disclosed publicly by the Company but which has not been so disclosed, other than with respect to the transactions contemplated by this
Agreement. As of its filing date, each Commission Document filed with or furnished to the Commission and incorporated by reference in the Registration Statement and the Prospectus (including, without limitation, the 2011 Form 10-K) complied in all
material respects with the requirements of the Securities Act or the Exchange Act, as applicable, and other federal, state and local laws, rules and regulations applicable to it, and, as of its filing date (or, if amended or superseded by a filing
prior to the Effective Date, on the date of such amended or superseded filing), such Commission Document did not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to
make the statements therein, in light of the circumstances under which they were made, not misleading. Each Commission Document to be filed with or furnished to the Commission after the Effective Date and incorporated by reference in the
Registration Statement, the Prospectus and any Prospectus Supplement required to be filed pursuant to Section 1.4 hereof during the Investment Period (including, without limitation, the Current Report), when such document becomes effective or
is filed with or furnished to the Commission and, if applicable, when such document becomes effective, as the case may be, shall comply in all material respects with the requirements of the Securities Act or the Exchange Act, as applicable, and
other federal, state and local laws, rules and regulations applicable to it, and shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements
therein, in light of the circumstances under which they were made, not misleading. There are no outstanding or unresolved comments or undertakings in such comment letters received by the Company from the Commission. The Commission has not issued any
stop order or other order suspending the effectiveness of any registration statement filed by the Company under the Securities Act or the Exchange Act. 
 (b) The financial statements, together with the related notes and schedules, of the Company included in the Commission Documents comply as to form in all material respects with the applicable requirements
of the Securities Act and the Exchange Act, as applicable. Such financial statements, together with the related notes and schedules, have been prepared in accordance with GAAP applied on a consistent basis during the periods involved (except
(i) as may be otherwise indicated in such financial statements or the notes thereto or (ii) in the case of unaudited interim statements, to the extent they may not include footnotes or may be condensed or summary statements), and fairly
present in all material respects the financial condition of the Company and its consolidated Subsidiaries as of the dates thereof and the results of operations and cash flows for the periods then ended (subject, in the case of unaudited statements,
to normal year-end audit adjustments). 

  
 15 

 (c) The Company has timely filed with the Commission and made available via EDGAR all
certifications and statements required by (x) Rule 13a-14 or Rule 15d-14 under the Exchange Act or (y) 18 U.S.C. Section 1350 (Section 906 of the Sarbanes-Oxley Act of 2002 (“SOXA”)) with respect to all relevant
Commission Documents. The Company is in compliance in all material respects with the provisions of SOXA applicable to it as of the date hereof. The Company maintains disclosure controls and procedures required by Rule 13a-15 or Rule 15d-15 under the
Exchange Act; such controls and procedures are effective to ensure that all material information concerning the Company and its Subsidiaries is made known on a timely basis to the individuals responsible for the timely and accurate preparation of
the Company’s Commission filings and other public disclosure documents. As used in this Section 4.6(c), the term “file” shall be broadly construed to include any manner in which a document or information is furnished, supplied or
otherwise made available to the Commission. 
 (d) Ernst & Young LLP and Grant Thornton LLP, both of which have
expressed their opinions on the audited financial statements and related schedules included or incorporated by reference in the Registration Statement and the Base Prospectus, are, with respect to the Company, independent public accountants as
required by the Securities Act, and each of which is an independent registered public accounting firm within the meaning of SOXA as required by the rules of the Public Company Accounting Oversight Board. Neither Ernst & Young LLP nor Grant
Thornton LLP has been engaged by the Company to perform any “prohibited activities” (as defined in Section 10A of the Exchange Act). 
 Section 4.7 Subsidiaries. Exhibit 21.1 to the 2011 Form 10-K sets forth each Subsidiary of the Company as of the Effective Date, showing its jurisdiction of incorporation or
organization, and the Company does not have any other Subsidiaries as of the Effective Date. 
 Section 4.8 No
Material Adverse Effect. Since December 31, 2011, except for continued losses from operations, the Company has not experienced or suffered any Material Adverse Effect, and there exists no current state of facts, condition or event which
would have a Material Adverse Effect. 
 Section 4.9 No Undisclosed Liabilities. Neither the Company nor any
of its Subsidiaries has any liabilities, obligations, claims or losses (whether liquidated or unliquidated, secured or unsecured, absolute, accrued, contingent or otherwise) that would be required to be disclosed on a balance sheet of the Company or
any Subsidiary (including the notes thereto) in conformity with GAAP and are not disclosed in the Commission Documents, other than those incurred in the ordinary course of the Company’s or its Subsidiaries respective businesses since
December 31, 2011 and which, individually or in the aggregate, do not or would not have a Material Adverse Effect. 

Section 4.10 No Undisclosed Events or Circumstances. No event or circumstance has occurred or information exists with
respect to the Company or any of its Subsidiaries or its or their business, properties, liabilities, operations (including results thereof) or conditions (financial or otherwise), which, under applicable law, rule or regulation, would be required to
be disclosed in a Commission Document but which has not been so publicly announced or disclosed, except for events or circumstances which, individually or in the aggregate, do not or would not have a Material Adverse Effect. 

  
 16 

 Section 4.11 Indebtedness. The Company’s Quarterly Report on Form
10-Q for its fiscal quarter ended September 30, 2012 sets forth, as of September 30, 2012, all outstanding secured and unsecured Indebtedness of the Company or any Subsidiary, or for which the Company or any Subsidiary has commitments
through such date. For the purposes of this Agreement, “Indebtedness” shall mean (a) any liabilities for borrowed money or amounts owed in excess of $10,000,000 (other than trade accounts payable incurred in the ordinary course
of business), (b) all guaranties, endorsements, indemnities and other contingent obligations in respect of Indebtedness of others in excess of $10,000,000, whether or not the same are or should be reflected in the Company’s balance sheet
(or the notes thereto), except guaranties by endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business; and (c) the present value of any lease payments in excess of $10,000,000
due under leases required to be capitalized in accordance with GAAP. There is no existing or continuing default or event of default in respect of any Indebtedness of the Company or any of its Subsidiaries. The Company has not taken any steps, and
does not currently expect to take any steps, to seek protection pursuant to Title 11 of the United States Code or any similar federal or state bankruptcy law or law for the relief of debtors, nor does the Company have any Knowledge that its
creditors intend to initiate involuntary bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings for relief under Title 11 of the United States Code or any other federal or state bankruptcy law or any law for the
relief of debtors. The Company is financially solvent and is generally able to pay its debts as they become due. 

Section 4.12 Title To Assets. Each of the Company and its Subsidiaries has good and valid title to, or has valid
rights to lease or otherwise use, all of their respective real and personal property reflected in the Commission Documents, free of mortgages, pledges, charges, liens, security interests or other encumbrances, except for those that would not have a
Material Adverse Effect. All real property and facilities held under lease by the Company or any of its Subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as are not material and do not interfere with
the use made and proposed to be made of such property and buildings by the Company or any of its Subsidiaries. 

Section 4.13 Actions Pending. There is no action, suit, claim, investigation or proceeding pending, or to the
Knowledge of the Company threatened, against the Company or any Subsidiary which questions the validity of this Agreement or the transactions contemplated hereby or any action taken or to be taken pursuant hereto or thereto. There is no action,
suit, claim, investigation or proceeding pending, or to the Knowledge of the Company threatened, against or involving the Company, any Subsidiary or any of their respective properties or assets, or involving any officers or directors of the Company
or any of its Subsidiaries, including, without limitation, any securities class action lawsuit or stockholder derivative lawsuit related to the Company, in each case which, if determined adversely to the Company, its Subsidiary or any officer or
director of the Company or its Subsidiaries, would have a Material Adverse Effect. Except as set forth in the Commission Documents, no judgment, order, writ, injunction or decree or award has been issued by or, to the Knowledge of the Company,
requested of any court, arbitrator or governmental agency which would be reasonably expected to result in a Material Adverse Effect. 

  
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 Section 4.14 Compliance With Law. The business of the Company and the
Subsidiaries has been and is presently being conducted in compliance with all applicable federal, state, local and foreign governmental laws, rules, regulations and ordinances, except for such non-compliance which, individually or in the aggregate,
would not have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is in violation of any judgment, decree or order or any statute, ordinance, rule or regulation applicable to the Company or any of its Subsidiaries, except in
all cases for possible violations which could not, individually or in the aggregate, have a Material Adverse Effect. Without limiting the generality of the foregoing, the Company has maintained all requirements for the continued listing or quotation
of its Common Stock on the Trading Market, and the Company is not in material violation of any of the rules, regulations or requirements of the Trading Market and has no Knowledge of any facts or circumstances that could reasonably be expected to
lead to delisting or suspension of the Common Stock by the Trading Market in the foreseeable future. 
 Section 4.15
Certain Fees. Except for the placement fee payable by the Company to Financial West Group, Member FINRA/SIPC (“FWG”), which shall be set forth in a separate engagement letter between the Company and FWG (a true and
complete fully executed copy of which has heretofore been provided to the Investor), no brokers, finders or financial advisory fees or commissions is or shall be payable by the Company or any Subsidiary (or any of their respective affiliates) with
respect to the transactions contemplated by this Agreement. Except as set forth in this Section 4.15 or as disclosed in Section 4.15 of the Disclosure Schedule, there are no contracts, agreements or understandings between the Company and
any person that would give rise to a valid claim against the Company, the Investor or the Broker-Dealer for a brokerage commission, finder’s fee or other like payment in connection with the transactions contemplated by this Agreement or, to the
Company’s knowledge, any arrangements, agreements, understandings, payments or issuance with respect to the Company or any of its officers, directors, stockholders, partners, employees, Subsidiaries or Affiliates that may affect the
FINRA’s determination of the amount of compensation to be received by any FINRA member (including, without limitation, those FINRA members set forth on Schedule 4.15 of the Disclosure Schedule) or person associated with any FINRA member in
connection with the transactions contemplated by this Agreement. Except as set forth in this Section 4.15 or as disclosed in Section 4.15 of the Disclosure Schedule, no “items of value” (within the meaning of FINRA Rule 5110)
have been received, and no arrangements have been entered into for the future receipt of any items of value, from the Company or any of its officers, directors, stockholders, partners, employees, Subsidiaries or Affiliates by any FINRA member
(including, without limitation, those FINRA members set forth on Schedule 4.15 of the Disclosure Schedule) or person associated with any FINRA member, during the period commencing 180 days immediately preceding the Effective Date and ending on the
date this Agreement is terminated in accordance with Article VII, that may affect the FINRA’s determination of the amount of compensation to be received by any FINRA member or person associated with any FINRA member in connection with the
transactions contemplated by this Agreement. 

  
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 Section 4.16 Operation of Business. (a) The Company or one or more
of its Subsidiaries possesses such permits, licenses, approvals, consents and other authorizations (including licenses, accreditation and other similar documentation or approvals of any local health departments) issued by the appropriate federal,
state, local or foreign regulatory agencies or bodies, including, without limitation, the U.S. Food and Drug Administration (“FDA”), as are necessary to conduct the business now operated by it (collectively, “Governmental
Licenses”), except where the failure to possess such Governmental Licenses, individually or in the aggregate, would not have a Material Adverse Effect. The Company and its Subsidiaries are in compliance with the terms and conditions of all
such Governmental Licenses and all applicable FDA rules and regulations, guidelines and policies, and all applicable rules and regulations, guidelines and policies of any governmental authority exercising authority comparable to that of the FDA
(including any non-governmental authority whose approval or authorization is required under foreign law comparable to that administered by the FDA), except where the failure to so comply, individually or in the aggregate, would not have a Material
Adverse Effect. All of the Governmental Licenses are valid and in full force and effect, except where the invalidity of such Governmental Licenses or the failure of such Governmental Licenses to be in full force and effect, individually or in the
aggregate, would not have a Material Adverse Effect. As to each product that is subject to FDA regulation or similar legal provisions in any foreign jurisdiction that is developed, manufactured, tested, packaged, labeled, marketed, sold, distributed
and/or commercialized by the Company or any of its Subsidiaries, each such product is being developed, manufactured, tested, packaged, labeled, marketed, sold, distributed and/or commercialized in compliance with all applicable requirements of the
FDA (and any non-governmental authority whose approval or authorization is required under foreign law comparable to that administered by the FDA), including, but not limited to, those relating to investigational use, premarket approval, good
clinical practices, good manufacturing practices, record keeping, filing of reports, and patient privacy and medical record security, except where such non-compliance, individually or in the aggregate, would not have a Material Adverse Effect. As to
each product or product candidate of the Company or any of its Subsidiaries subject to FDA regulation or similar legal provision in any foreign jurisdiction, all manufacturing facilities of the Company and its Subsidiaries are operated in compliance
with the FDA’s Good Manufacturing Practices requirements at 21 C.F.R. Part 210 and 211, as applicable, except where such non-compliance, individually or in the aggregate, would not have a Material Adverse Effect. Neither the Company nor any of
its Subsidiaries has received any written notice of proceedings relating to the revocation or modification of any such Governmental Licenses or relating to a potential violation of, failure to comply with, any FDA rules and regulations, guidelines
or policies which, if the subject of any unfavorable decision, ruling or finding, individually or in the aggregate, would have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries has received any correspondence, notice or
request from the FDA, including, without limitation, notice that any one or more products or product candidates of the Company or any of its Subsidiaries failed to receive approval from the FDA for use for any one or more indications that,
individually or in the aggregate, would have a Material Adverse Effect. This Section 4.16 does not relate to environmental matters, such items being the subject of Section 4.17. 

(b) The Company or one or more of its Subsidiaries owns or possesses adequate patents, patent rights, licenses, inventions, copyrights,
know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures), trademarks, service marks, trade names, trade dress, logos, copyrights and other intellectual property,
including, without limitation, all of the intellectual property (collectively, 

  
 19 

 
“Intellectual Property”), necessary to carry on the business now operated by it. There are no actions, suits or judicial proceedings pending, or to the Company’s Knowledge
threatened, relating to patents or proprietary information to which the Company or any of its Subsidiaries is a party or of which any property of the Company or any of its Subsidiaries is subject, and neither the Company nor any of its Subsidiaries
has received any notice or is otherwise aware of any infringement of or conflict with asserted rights of others with respect to any Intellectual Property or of any facts or circumstances which could render any Intellectual Property invalid or
inadequate to protect the interest of the Company and its Subsidiaries therein, and which infringement or conflict (if the subject of any unfavorable decision, ruling or finding) or invalidity or inadequacy, individually or in the aggregate, would
have a Material Adverse Effect. 
 (c) The descriptions of all pre-clinical and clinical trials conducted by, or on behalf of,
the Company or any of its Subsidiaries, or in which the Company or any of its Subsidiaries has participated contained in the Commission Documents, or the results of which are referred to in the Commission Documents, if any, are accurate and complete
in all material respects. All such pre-clinical and clinical trials conducted, supervised or monitored by, or on behalf of, the Company or any of its Subsidiaries have been conducted in compliance with all applicable federal, state, local and
foreign laws, and the regulations and requirements of any applicable governmental entity, including, but not limited to, FDA good clinical practice and good laboratory practice requirements. Neither the Company nor any of its Subsidiaries has
received any notices or correspondence from the FDA or any other governmental agency requiring the termination, suspension, delay or modification of any pre-clinical or clinical trials conducted by, or on behalf of, the Company or any of its
Subsidiaries or in which the Company or any of its Subsidiaries has participated that are described in the Commission Documents, if any, or the results of which are referred to in the Commission Documents. All pre-clinical and clinical trials
previously conducted by, or on behalf of, the Company or any of its Subsidiaries while conducted by or on behalf of the Company or any of its Subsidiaries, were conducted in compliance with all applicable federal, state, local and foreign laws, and
the regulations and requirements of any applicable governmental entity, including, but not limited to, FDA good clinical practice and good laboratory practice requirements. 
 Section 4.17 Environmental Compliance. The Company and each of its Subsidiaries have obtained all material approvals, authorization, certificates, consents, licenses, orders and permits
or other similar authorizations of all governmental authorities, or from any other Person, that are required under any Environmental Laws, except for any approvals, authorization, certificates, consents, licenses, orders and permits or other similar
authorizations the failure of which to obtain does not or would not have a Material Adverse Effect. “Environmental Laws” shall mean all applicable laws relating to the protection of the environment, including all requirements
pertaining to reporting, licensing, permitting, controlling, investigating or remediating emissions, discharges, releases or threatened releases of hazardous substances, chemical substances, pollutants, contaminants or toxic substances, materials or
wastes, whether solid, liquid or gaseous in nature, into the air, surface water, groundwater or land, or relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of hazardous substances,
chemical substances, pollutants, contaminants or toxic substances, material or wastes, whether solid, liquid or gaseous in nature. Except for such instances as would not, individually or in the aggregate, have a Material Adverse Effect, to the
Company’s Knowledge, there are no past or present events, conditions, 

  
 20 

 
circumstances, incidents, actions or omissions relating to or in any way affecting the Company or its Subsidiaries that violate or would reasonably be expected to violate any Environmental Law
after the Effective Date or that would reasonably be expected to give rise to any environmental liability, or otherwise form the basis of any claim, action, demand, suit, proceeding, hearing, study or investigation (i) under any Environmental
Law, or (ii) based on or related to the manufacture, processing, distribution, use, treatment, storage 
 (including without limitation
underground storage tanks), disposal, transport or handling, or the emission, discharge, release or threatened release of any hazardous substance. 
 Section 4.18 Material Agreements. Neither the Company nor any Subsidiary of the Company is a party to any written or oral contract, instrument, agreement commitment, obligation, plan or
arrangement, a copy of which would be required to be filed with the Commission as an exhibit to an annual report on Form 10-K (collectively, “Material Agreements”). The Company and each of its Subsidiaries have performed in all
material respects all the obligations required to be performed by them under the Material Agreements, have received no notice of default or an event of default by the Company or any of its Subsidiaries thereunder and are not aware of any basis for
the assertion thereof, and neither the Company or any of its Subsidiaries nor, to the Knowledge of the Company, any other contracting party thereto are in default under any Material Agreement now in effect, except in each case, the result of which
would not have a Material Adverse Effect. Each of the Material Agreements is in full force and effect, and constitutes a legal, valid and binding obligation enforceable in accordance with its terms against the Company and/or any of its Subsidiaries
and, to the Knowledge of the Company, each other contracting party thereto, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation, conservatorship, receivership or similar laws
relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by other equitable principles of general application. 
 Section 4.19 Transactions With Affiliates. There are no loans, leases, agreements, contracts, royalty agreements, management contracts, service arrangements or other continuing
transactions exceeding $120,000 between (a) the Company or any Subsidiary, on the one hand, and (b) any Person who would be covered by Item 404(a) of Regulation S-K, on the other hand. There are no outstanding amounts payable to or
receivable from, or advances by the Company or any of its Subsidiaries to, and neither the Company nor any of its Subsidiaries is otherwise a creditor of or debtor to, any beneficial owner of more than 5% of the outstanding shares of Common Stock,
or any director, employee or Affiliate of the Company or any of its Subsidiaries, other than (i) reimbursement for reasonable expenses incurred on behalf of the Company or any of its Subsidiaries or (ii) as part of the normal and customary
terms of such Persons’ employment or service as a director with the Company or any of its Subsidiaries. 

Section 4.20 Securities Act. The Company has complied with all applicable federal and state securities laws in
connection with the offer, issuance and sale of the Shares contemplated by this Agreement. 
 (i) The Company has prepared and
filed with the Commission, in accordance with the provisions of the Securities Act, the Registration Statement, including a base prospectus relating to the Shares. The Registration Statement was declared effective by order of the Commission on
October 9, 2012. As of the date hereof, no stop order suspending the 

  
 21 

 
effectiveness of the Registration Statement has been issued by the Commission or is continuing in effect under the Securities Act and no proceedings therefor are pending before or, to the
Company’s Knowledge, threatened by the Commission. No order preventing or suspending the use of the Prospectus or any Permitted Free Writing Prospectus has been issued by the Commission. 

(ii) As of the Effective Date, the Company satisfies all of the requirements for the use of Form S-3 under the Securities Act for the
offering and sale of the Shares contemplated by this Agreement (without reliance on General Instruction I.B.6. of Form S-3). If, during the term of this Agreement, the Company becomes subject to General Instruction I.B.6. of Form S-3, the Company
hereby confirms that for as long as the Company is subject to General Instruction I.B.6. of Form S-3 during the term of this Agreement, the Company shall not offer or sell any securities pursuant to this Agreement that would exceed the limitations
set forth in General Instruction I.B.6. of Form S-3 (as applicable). The Company is not, and has not previously been at any time, a “shell company” (as such term is defined in Rule 405 under the Securities Act). 

(iii) The Commission has not notified the Company of any objection to the use of the form of the Registration Statement pursuant to Rule
401(g)(1) under the Securities Act. The Registration Statement complied in all material respects on the date on which it was declared effective by the Commission, and will comply in all material respects at each deemed effective date with respect to
the Investor pursuant to Rule 430B(f)(2) of the Securities Act, with the requirements of the Securities Act, and the Registration Statement (including the documents incorporated by reference therein) did not on the date it was declared effective by
the Commission, and shall not at each deemed effective date with respect to the Investor pursuant to Rule 430B(f)(2) of the Securities Act, 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; provided that this representation and warranty does not apply to statements in or omissions from the Registration Statement made in reliance upon and in conformity with information
relating to the Investor furnished to the Company in writing by or on behalf of the Investor expressly for use therein. The Registration Statement, as of the Effective Date, meets the requirements set forth in Rule 415(a)(1)(x) under the Securities
Act. The Base Prospectus complied in all material respects on its date and on the Effective Date, and will comply in all material respects on each applicable Fixed Request Exercise Date and, when taken together with the applicable Prospectus
Supplement and any applicable Permitted Free Writing Prospectus, on each applicable Settlement Date, with the requirements of the Securities Act and did not on its date and on the Effective Date and shall not on each applicable Fixed Request
Exercise Date and, when taken together with the applicable Prospectus Supplement and any applicable Permitted Free Writing Prospectus, on each applicable Settlement Date 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; provided that this representation and warranty does not apply to statements in or
omissions from the Base Prospectus made in reliance upon and in conformity with information relating to the Investor furnished to the Company in writing by or on behalf of the Investor expressly for use therein. 

  
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 (iv) Each Prospectus Supplement required to be filed pursuant to Section 1.4 hereof,
when taken together with the Base Prospectus and any applicable Permitted Free Writing Prospectus, on its date and on the applicable Settlement Date, shall comply in all material respects with the provisions of the Securities Act and shall not on
its date and on the applicable Settlement Date 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 are made, not misleading, except that this representation and warranty does not apply to statements in or omissions from any Prospectus Supplement made in reliance upon and in conformity with information relating to the Investor furnished to
the Company in writing by or on behalf of the Investor expressly for use therein. 
 (v) At the earliest time after the filing of
the Registration Statement that the Company or another offering participant made a bona fide offer (within the meaning of Rule 164(h)(2) under the Securities Act) relating to the Shares, the Company was not and is not an “ineligible
issuer” (as defined in Rule 405 under the Securities Act). Each Permitted Free Writing Prospectus (a) shall conform in all material respects to the requirements of the Securities Act on the date of its first use, (b) when considered
together with the Prospectus on each applicable Fixed Request Exercise Date and on each applicable Settlement Date, shall 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 are made, not misleading, and (c) shall not include any information that conflicts with the information contained in the Registration Statement, including any
document incorporated by reference therein and any Prospectus Supplement deemed to be a part thereof that has not been superseded or modified. The immediately preceding sentence does not apply to statements in or omissions from any Permitted Free
Writing Prospectus made in reliance upon and in conformity with information relating to the Investor furnished to the Company in writing by or on behalf of the Investor expressly for use therein. 

(vi) Prior to the Effective Date, the Company has not distributed any offering material in connection with the offering and sale of the
Shares. From and after the Effective Date and prior to the completion of the distribution of the Shares, the Company shall not distribute any offering material in connection with the offering and sale of the Shares, other than the Registration
Statement, the Base Prospectus as supplemented by any Prospectus Supplement or a Permitted Free Writing Prospectus. 

Section 4.21 Employees. Neither the Company nor any Subsidiary of the Company has any collective bargaining
arrangements or agreements covering any of its employees. No officer, consultant or key employee of the Company or any Subsidiary whose termination, either individually or in the aggregate, would reasonably be expected to have a Material Adverse
Effect, has terminated or, to the Knowledge of the Company, has any present intention of terminating his or her employment or engagement with the Company or any Subsidiary. 
 Section 4.22 Use of Proceeds. The proceeds from the sale of the Shares shall be used by the Company and its Subsidiaries as set forth in the Base Prospectus and any Prospectus
Supplement filed pursuant to Section 1.4. 
 Section 4.23 Investment Company Act Status. The Company is
not, and as a result of the consummation of the transactions contemplated by this Agreement and the application of the proceeds from the sale of the Shares as set forth in the Base Prospectus and any Prospectus Supplement shall not be, an
“investment company” or a company “controlled” by an “investment company,” within the meaning of the Investment Company Act of 1940, as amended. 

  
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 Section 4.24 ERISA. Neither the Company, nor the Subsidiary nor any other
entity that together with the Company and the Subsidiary would be considered a single employer within the meaning of Section 4001(b) of the ERISA (each single employer, an “ERISA Affiliate”) maintains or contributes to
or ever maintained was required to contribute to a plan subject to Title IV of ERISA or Section 412 of the Code. Each benefit plan sponsored by the Company or an ERISA Affiliate has been maintained in substantial compliance with its terms and
applicable laws. Each such plan intended to be “qualified” within the meaning of Section 401(a) of the Code is the subject of a favorable determination letter from the Internal Revenue Service as to its qualification (or the period
for timely requesting such a determination has not expired) and the Company and the Subsidiary are aware of no circumstances that would reasonably be expected to result in the disqualification of such plan. 

Section 4.25 Taxes. The Company (i) has filed all federal, state and foreign income and franchise tax returns or
has duly requested extensions thereof, except for those the failure of which to file would not have a Material Adverse Effect, (ii) has paid all federal, state, local and foreign taxes due and payable for which it is liable, except to the
extent that any such taxes are being contested in good faith and by appropriate proceedings, except for such taxes the failure of which to pay would not have a Material Adverse Effect, and (iii) does not have any tax deficiency or claims
outstanding or assessed or, to the Company’s Knowledge, proposed against it which would have a Material Adverse Effect. The Company is not operated in such a manner as to qualify as a passive foreign investment company, as defined in
Section 1297 of the U.S. Internal Revenue Code of 1986, as amended. 
 Section 4.26 Insurance. The
Company and its Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as management of the Company believes to be prudent and customary in the businesses in which the Company
and its Subsidiaries are engaged. 
 Section 4.27 U.S. Real Property Holding Corporation. Neither the Company
nor any of its Subsidiaries is, or has ever been, and so long as any of the Shares are held by the Investor, shall become a U.S. real property holding corporation within the meaning of Section 897 of the Code. 

Section 4.28 Listing and Maintenance Requirements. The Company’s Common Stock is registered pursuant to
Section 12(b) or 12(g) of the Exchange Act, and the Company has taken no action designed to, or which to its Knowledge is likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act, nor has the Company
received any notification that the Commission is contemplating terminating such registration. The Company has not, in the 12 months preceding the Effective Date, received notice from any Trading Market on which the Common Stock is or has been listed
or quoted to the effect that the Company is not in compliance in any material respect with the listing or maintenance requirements of such Trading Market. As of the Effective Date, the Company is in compliance with all such listing and maintenance
requirements. 

  
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 Section 4.29 Foreign Corrupt Practices Act. None of the Company, any
Subsidiary or, to the Knowledge of the Company, any director, officer, agent, employee, affiliate or other Person acting on behalf of the Company or any of its Subsidiaries, is aware of or has taken any action, directly or indirectly, that would
result in a violation by such Persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (collectively, the “FCPA”), including, without limitation, making use of the mails or any means
or instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or 
 authorization of the payment of any
money, or other property, gift, promise to give, or authorization of the giving of anything of value to any “foreign official” (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for
foreign political office, in contravention of the FCPA. The Company and the Subsidiaries have conducted their respective businesses in compliance with the FCPA and have instituted and maintain policies and procedures designed to ensure, and which
are reasonably expected to continue to ensure, continued compliance therewith. 
 Section 4.30 Money Laundering
Laws. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of
1970, as amended, the money laundering statutes of all jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the
“Money Laundering Laws”) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator 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. 
 Section 4.31 OFAC. None of the Company, any
Subsidiary or, to the Knowledge of the Company, any director, officer, agent, employee, affiliate or Person acting on behalf of the Company or any of its Subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign
Assets Control of the U.S. Treasury Department (“OFAC”); and the Company 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, for the purpose of financing the activities of any Person currently subject to any U.S. sanctions administered by OFAC. 
 Section 4.32 Manipulation of Price. Neither the Company nor any of its officers, directors or Affiliates has, and, to the Knowledge of the Company, no Person acting on their behalf has,
(i) taken, directly or indirectly, any action designed or intended to cause or to result in the stabilization or manipulation of the price of any security of the Company, or which caused or resulted in, or which would in the future reasonably
be expected to cause or result in, the stabilization or manipulation of the price of any security of the Company, in each case to facilitate the sale or resale of any of the Shares, or (ii) sold, bid for, purchased, or paid any compensation for
soliciting purchases of, any of the Shares. 
 Section 4.33 Acknowledgement Regarding Investor’s Acquisition of
Shares. The Company acknowledges and agrees that the Investor is acting solely in the capacity of an arm’s length purchaser with respect to this Agreement and the transactions contemplated hereby. The Company further acknowledges that
the Investor is not acting as a financial advisor or fiduciary 

  
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of the Company (or in any similar capacity) with respect to this Agreement or the transactions contemplated hereby, and any advice given by the Investor or any of its representatives or agents in
connection with this Agreement or the transactions contemplated hereby is merely incidental to the Investor’s acquisition of the Shares. The Company further represents to the Investor that the Company’s decision to enter into this
Agreement has been based solely on the independent evaluation of the transactions contemplated hereby by the Company and its representatives. The Company acknowledges and agrees that the Investor has not made and does not make any representations or
warranties with respect to the transactions contemplated by this Agreement other than those specifically set forth in Article III of this Agreement. 
 ARTICLE V 
 COVENANTS 

The Company covenants with the Investor, and the Investor covenants with the Company, as follows, which covenants of one party are for
the benefit of the other party, during the Investment Period: 
 Section 5.1 Securities Compliance; FINRA Filing.

 (i) The Company shall notify the Trading Market, as required, in accordance with its rules and regulations, of the
transactions contemplated by this Agreement, and shall take all necessary action, undertake all proceedings and obtain all registrations, permits, consents and approvals for the legal and valid issuance of the Shares to the Investor in accordance
with the terms of this Agreement. Without limiting the generality of the foregoing, the Company shall take all necessary action, undertake all proceedings and obtain all registrations, permits, consents and approvals in order to (i) qualify the
Shares for offering and sale to the Investor, or to obtain an exemption for the Shares to be offered and sold to the Investor and (ii) qualify the Shares for offer and resale by the Investor, or to obtain an exemption for the Shares to be
offered and resold by the Investor, in each case under the applicable securities laws of such states and other jurisdictions (domestic or foreign) as the Investor may designate, and to maintain such qualifications and exemptions in effect for so
long as required for the distribution of the Shares (but in no event for less than one year from the date of this Agreement); provided, however, 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 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 Shares (but in no event for less than one year from the date of this Agreement). 
 (ii) The Company shall (with the Investor’s assistance) assist FWG with the preparation and filing with FINRA’s Corporate Financing Department via the Public Offering System (not later than 24
hours after the Effective Date) of all documents and information required to be filed with FINRA pursuant to FINRA Rule 5110 with regard to the transactions contemplated by this Agreement (the “FINRA Filing”). In connection
therewith, on the Effective Date, the Company shall pay to FINRA by wire transfer of immediately available funds the 

  
 26 

 
applicable filing fee with respect to the FINRA Filing, and the Company shall be solely responsible for payment of such fee. The parties hereby agree to provide each other and FWG all requisite
information and otherwise to assist each other and FWG in a timely fashion in order for FWG to complete the preparation and submission of the FINRA Filing in accordance with this Section 5.1(ii) and to assist FWG in promptly responding to any
inquiries or requests from FINRA or its staff. Each party hereto shall (A) promptly notify the other party and FWG of any communication to that party or its affiliates from FINRA, including, without limitation, any request from FINRA or its
staff for amendments or supplements to or additional information in respect of the FINRA Filing and permit the other party and FWG to review in advance any proposed written communication to FINRA and (B) furnish the other party and FWG with
copies of all written correspondence, filings and communications between them and their affiliates and their respective representatives and advisors, on the one hand, and FINRA or members of its staff, on the other hand, with respect to this
Agreement or the transactions contemplated hereby. Each of the parties hereto agrees to use its commercially reasonable efforts to take, or cause to be taken, all actions, and to do, or cause to be done, and to assist and cooperate with the other
party and FWG in doing, all things necessary, proper or advisable to obtain as promptly as practicable (but in no event later than 60 days after the Effective Date) written confirmation from FINRA to the effect that FINRA’s Corporate Financing
Department has determined not to raise any objection with respect to the fairness and reasonableness of the terms of the transactions contemplated by this Agreement; provided, however, that the Investor shall have no responsibility for
the compliance or non-compliance of any Broker-Dealer with FINRA Rule 5110 and shall not be required to (x) disclose to FINRA or to any other governmental agency, person or entity any business, financial or other information that the Investor
deems, in its sole and absolute discretion, to be proprietary, confidential or otherwise sensitive information, (y) amend, modify or change any of the terms or conditions of this Agreement or (z) otherwise take any other action, including,
without limitation, modifying the Discount Price thresholds referred to in Section 2.2 or the amount of fees and commissions to be paid to the Broker-Dealer in connection with the transactions contemplated by this Agreement, in each case, in
such a manner that would, in the Investor’s sole and absolute discretion, render the terms and conditions of this Agreement or the transactions contemplated hereby to be no longer advisable to the Investor. Notwithstanding anything to the
contrary contained in this Agreement, the Company shall not pay any fees to FWG in connection with any of the transactions contemplated by this Agreement, unless and until the parties hereto and FWG shall have received written confirmation from
FINRA to the effect that FINRA’s Corporate Financing Department has determined not to raise any objection with respect to the fairness and reasonableness of the terms of the transactions contemplated by this Agreement. 

Section 5.2 Registration and Listing. The Company shall use its reasonable best efforts to cause the Common Stock to
continue to be registered as a class of securities under Sections 12(b) or 12(g) of the Exchange Act, shall comply in all material respects with its reporting and filing obligations under the Exchange Act, and shall not take any action or file any
document (whether or not permitted by the Securities Act or the Exchange Act) to terminate or suspend such registration or to terminate or suspend its reporting and filing obligations under the Exchange Act or Securities Act, except as permitted
herein. Without limiting the generality of the foregoing, the Company shall file all reports, schedules, registrations, forms, statements, information and other documents required to be filed by the Company with the Commission pursuant to the
Exchange Act, including all material required to be filed pursuant to Sections 

  
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13(a), 13(c), 14 or 15(d) of the Exchange Act, in each case within the time periods required by the Exchange Act (giving effect to permissible extensions in accordance with Rule 12b-25 under the
Exchange Act). The Company shall use its reasonable best efforts to continue the listing and trading of its Common Stock and the listing of the Shares purchased by the Investor hereunder on the Trading Market, and shall comply with the
Company’s reporting, filing and other obligations under the bylaws, listed securities maintenance standards and other rules and regulations of FINRA and the Trading Market. The Company shall not take any action which 

could reasonably be expected to result in the delisting or suspension of the Common Stock on the Trading Market. 

Section 5.3 Compliance with Laws. 
 (i) The Company shall (a) comply, and cause each Subsidiary to comply, with all laws, rules, regulations, permits and orders applicable to the business and operations of the Company and its
Subsidiaries, except as would not have a Material Adverse Effect and (b) comply in all material respects, and cause each Subsidiary to comply in all material respects, with all applicable provisions of the Securities Act, the Exchange Act, the
rules and regulations of the FINRA and the listing standards of the Trading Market. Without limiting the foregoing: (A) neither the Company nor any of its officers or directors (1) will take, directly or indirectly, any action designed or
intended to cause or to result in, or which would in the future reasonably be expected to cause or result in, the stabilization or manipulation of the price of any security of the Company, in each case to facilitate the sale or resale of any of the
Shares, or (2) sell, bid for, purchase, or pay any compensation for soliciting purchases of, any of the Shares, other than, in the case of clause (2), compensation paid to FWG in connection with the settlement of each Fixed Request pursuant to
this Agreement; and (B) neither the Company, nor any of its Subsidiaries, nor to the Knowledge of the Company, any of their respective directors, officers, agents, employees or any other Persons acting on their behalf shall, in connection with
the operation of the Company’s and its Subsidiaries’ respective businesses, (a) use any corporate funds for unlawful contributions, payments, gifts or entertainment or to make any unlawful expenditures relating to political activity
to government officials, candidates or members of political parties or organizations, (b) pay, accept or receive any unlawful contributions, payments, expenditures or gifts, or (c) violate or operate in noncompliance with any export
restrictions, anti-boycott regulations, embargo regulations or other applicable domestic or foreign laws and regulations, including, without limitation, the FCPA and the Money Laundering Laws. 

(ii) The Investor shall comply with all laws, rules, regulations and orders applicable to the performance by it of its obligations under
this Agreement and its investment in the Shares, except as would not, individually or in the aggregate, prohibit or otherwise interfere with the ability of the Investor to enter into and perform its obligations under this Agreement in any material
respect. Without limiting the foregoing, the Investor shall comply with all applicable provisions of the Securities Act and the Exchange Act, including Regulation M thereunder, and any applicable securities laws of any non-U.S. jurisdictions.
Neither the Investor nor any of its officers or directors will take, directly or indirectly, any action designed or intended to cause or to result in, or which would in the future reasonably be expected to cause or result in, the stabilization or
manipulation of the price of any security of the Company, in each case to facilitate the sale or resale of any of the Shares. 

  
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 Section 5.4 Due Diligence. Subject to the requirements of
Section 5.12 of this Agreement, from time to time from and after the period beginning with the third Trading Day immediately preceding each Fixed Request Exercise Date through and including the applicable Settlement Date, the Company shall make
available for inspection and review by the Investor, customary documentation allowing the Investor and/or its appointed counsel or advisors to conduct reasonable due diligence. 

Section 5.5 Limitations on Holdings and Issuances. Notwithstanding any other provision of this Agreement, the Company
shall not issue and the Investor shall not purchase any shares of Common Stock which, when aggregated with all other shares of Common Stock then beneficially owned (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3
promulgated thereunder) by the Investor and its Affiliates, would result in the beneficial ownership by the Investor of more than 9.9% of the then issued and outstanding shares of Common Stock. Upon the written or oral request of the Investor, the
Company shall promptly (but not later than the next Trading Day) confirm orally or in writing to the Investor the number of shares of Common Stock then outstanding. The Investor and the Company shall each cooperate in good faith in the
determinations required hereby and the application hereof. The Investor’s written certification to the Company of the applicability of this beneficial ownership limitation, and the resulting effect thereof hereunder at any time, shall be
conclusive with respect to the applicability thereof and such result absent manifest error. 
 Section 5.6 Other
Agreements and Other Financings. 
 (i) The Company shall not enter into, announce or recommend to its stockholders any
agreement, plan, arrangement or transaction in or of which the terms thereof would restrict, materially delay, conflict with or impair the ability or right of the Company or any Subsidiary to perform its obligations under this Agreement, including,
without limitation, the obligation of the Company to deliver the Shares to the Investor in respect of a previously provided Fixed Request Notice or Optional Amount on the applicable Settlement Date. 

(ii) If the Company enters into any agreement, plan, arrangement or transaction with a third party or seeks to utilize any existing
agreement, plan or arrangement with a third party, in each case the principal purpose of which is to implement, effect or consummate, at any time during the period beginning on the first Trading Day of any Pricing Period and ending on the second
Trading Day next following the applicable Settlement Date (the “Reference Period”), an Other Financing that does not constitute an Acceptable Financing, the Company shall provide prompt notice thereof (an “Other Financing
Notice”) to the Investor; provided, however, that such Other Financing Notice must be received by the Investor not later than the earlier of (a) 48 hours after the Company’s execution of any agreement, plan,
arrangement or transaction relating to such Other Financing (or, with respect to any existing agreement, plan or arrangement, 48 hours after the Company has determined to utilize any such existing agreement, plan or arrangement to implement, effect
or consummate such Other Financing) and (b) the second Trading Day immediately preceding the applicable Settlement Date with respect to the applicable Fixed Request Notice; provided, further, that the Company shall notify the
Investor within 24 hours (an “Integration Notice”) if it enters into any agreement, plan, arrangement or transaction with a third party, the principal purpose of which is to obtain at any time during the Investment Period an Other
Financing that may be aggregated with the transactions contemplated 

  
 29 

 
by this Agreement for purposes of determining whether approval of the Company’s stockholders is required under any bylaw, listed securities maintenance standards or other rules of the
Trading Market and, if required under applicable law, including, without limitation, Regulation FD promulgated by the Commission, or under the applicable rules and regulations of the Trading Market, the Company shall publicly disclose such
information in accordance with Regulation FD and the applicable rules and regulations of the Trading Market. For purposes of this Section 5.6(ii), any press release issued by, or Commission Document filed by, the Company shall constitute
sufficient notice, provided that it is issued or filed, as the case may be, within the time requirements set forth in the first sentence of this Section 5.6(ii) for an Other Financing Notice or an Integration Notice, as applicable. With respect
to any Reference Period for which the Company is required to provide an Other Financing Notice pursuant to the first sentence (including the provisos thereto) of this Section 5.6(ii), the Investor shall have the option to purchase the Shares
subject to the Fixed Request at (i) the price therefor in accordance with the terms of this Agreement or (ii) the third party’s per share purchase price in connection with the Other Financing, net of such third party’s discounts,
Warrant Value and fees. An “Other Financing” shall mean (w) the issuance for cash of Common Stock for a purchase price less than, or the issuance for cash of securities convertible into or exchangeable for Common Stock at an
exercise or conversion price (as the case may be) less than, the then Current Market Price of the Common Stock (including, without limitation, pursuant to any “equity line” or other financing that is substantially similar to the financing
provided for under this Agreement, or pursuant to any other transaction in which the purchase, conversion or exchange price for such Common Stock is determined using a floating discount or other post-issuance adjustable discount to the then Current
Market Price (any such transaction, a “Similar Financing”)), in each case, after all fees, discounts, Warrant Value and commissions associated with the transaction (a “Below Market Offering”); (x) an
“at-the-market” offering for cash of Common Stock or securities convertible into or exchangeable for Common Stock pursuant to Rule 415(a)(4) under the Securities Act (an “ATM”), other than the Existing ATM; (y) the
implementation by the Company of any mechanism in respect of any securities convertible into or exchangeable for Common Stock for the reset of the purchase price of the Common Stock to below the then Current Market Price of the Common Stock
(including, without limitation, any antidilution or similar adjustment provisions in respect of any Company securities, but specifically excluding customary adjustments for stock splits, stock dividends, stock combinations and similar events) (a
“Price Reset Provision”); or (z) the issuance of options, warrants or similar rights of subscription, in the case of each of clause (w) and (z) not constituting an Acceptable Financing (it being acknowledged and
agreed that notwithstanding anything herein to the contrary, any Similar Financing, ATM (other than the Existing ATM) or Price Reset Provision shall not constitute an Acceptable Financing). “Acceptable Financing” shall mean the
issuance by the Company of: (1) debt securities or any class or series of preferred stock of the Company, in each case that are not convertible into or exchangeable for Common Stock or securities convertible into or exchangeable for Common
Stock; (2) shares of Common Stock or securities convertible into or exchangeable for Common Stock (including, without limitation, convertible debt securities) other than in connection with a Below Market Offering or an ATM (other than the
Existing ATM), and the issuance of shares of Common Stock upon conversion, exercise or exchange thereof; (3) shares of Common Stock in connection with the Existing ATM; (4) shares of Common Stock or securities convertible into or
exchangeable for Common Stock (including, without limitation, convertible debt securities) in connection with an underwritten public offering 

  
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(or offering under Rule 144A under the Securities Act) of securities of the Company or a registered direct public offering of securities of the Company, in each case where the price per share of
such Common Stock (or the conversion or exercise price of such securities, as applicable) is fixed concurrently with the execution of definitive documentation relating to such offering, and the issuance of shares of Common Stock upon the conversion,
exercise or exchange thereof; (5) shares of Common Stock or securities convertible into or exchangeable for Common Stock in connection with awards under the Company’s benefit and equity plans and arrangements or shareholder rights plan (as
applicable) and the issuance of shares of Common Stock upon the conversion, exercise or exchange thereof; (6) shares of Common Stock issuable upon the conversion or exchange of equity awards or convertible, exercisable or exchangeable
securities (including, without limitation, convertible debt securities) outstanding as of the Effective Date; (7) shares of Common Stock in connection with stock splits, stock dividends, stock combinations, recapitalizations, reclassifications
and similar events; (8) shares of Common Stock or securities convertible into or exchangeable for Common Stock (including, without limitation, convertible debt securities) issued in connection with the acquisition, license or sale of one or
more other companies, equipment, technologies, other assets or lines of business, and the issuance of shares of Common Stock upon the conversion, exercise or exchange thereof; (9) shares of Common Stock or securities convertible into or
exchangeable for Common Stock (including, without limitation, convertible debt securities) or similar rights to subscribe for the purchase of shares of Common Stock in connection with technology sharing, collaboration, partnering, licensing,
research and joint development agreements (or amendments thereto) with third parties, and the issuance of shares of Common Stock upon the conversion, exercise or exchange thereof; (10) shares of Common Stock or securities convertible into or
exchangeable for Common Stock to employees, consultants and/or advisors as consideration for services rendered or to be rendered, and the issuance of shares of Common Stock upon conversion, exercise or exchange thereof; and (11) shares of
Common Stock or securities convertible into or exchangeable for Common Stock issued in connection with capital or equipment financings and/or real property lease arrangements, and the issuance of shares of Common Stock upon the conversion, exercise
or exchange thereof. 
 Section 5.7 Stop Orders. The Company shall advise the Investor promptly (but in no
event later than 24 hours) and shall confirm such advice in writing: (i) of the Company’s receipt of notice of any request by the Commission for amendment of or a supplement to the Registration Statement, the Prospectus, any Permitted Free
Writing Prospectus or for any additional information; (ii) of the Company’s receipt of notice of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or prohibiting or suspending the
use of the Prospectus or any Prospectus Supplement, or of the suspension of qualification of the Shares for offering or sale in any jurisdiction, or the initiation or contemplated initiation of any proceeding for such purpose; and (iii) of the
Company becoming aware of the happening of any event, which makes any statement of a material fact made in the Registration Statement, the Prospectus or any Permitted Free Writing Prospectus untrue or which requires the making of any additions to or
changes to the statements then made in the Registration Statement, the Prospectus or any Permitted Free Writing Prospectus in order to state a material fact required by the Securities Act to be stated therein or necessary in order to make the
statements then made therein (in the case of the Prospectus, in light of the circumstances under which they were made) not misleading, or of the necessity to amend the Registration Statement or supplement the Prospectus or any Permitted Free Writing
Prospectus 

  
 31 

 
to comply with the Securities Act or any other law. The Company shall not be required to disclose to the Investor the substance or specific reasons of any of the events set forth in clauses
(i) through (iii) of the immediately preceding sentence, but rather, shall only be required to disclose that the event has occurred. The Company shall not issue any Fixed Request during the continuation of any of the foregoing events. If
at any time the Commission shall issue any stop order suspending the effectiveness of the Registration Statement or prohibiting or suspending the use of the Prospectus or any Prospectus Supplement, the Company shall use reasonable best efforts to
obtain the withdrawal of such order at the earliest possible time. The Company shall also advise the Investor promptly (but in no event later than 24 hours) and shall confirm such advice in writing of the Company becoming aware of the happening of
any event, which makes any statement made in the FINRA Filing untrue or which requires the making of any additions to or changes to the statements then made in the FINRA Filing in order to comply with FINRA Rule 5110. 

Section 5.8 Amendments to the Registration Statement; Prospectus Supplements; Free Writing Prospectuses. 

(i) Except as provided in this Agreement and other than periodic and current reports required to be filed pursuant to the Exchange Act,
the Company shall not file with the Commission any amendment to the Registration Statement that relates to the Investor, this Agreement or the transactions contemplated hereby or file with the Commission any Prospectus Supplement that relates to the
Investor, this Agreement or the transactions contemplated hereby with respect to which (a) the Investor shall not previously have been advised, (b) the Company shall not have given the Investor and its counsel a reasonable opportunity to
comment on a draft thereof prior to filing with the Commission, (c) the Company shall not have given due consideration to any comments thereon received from the Investor or its counsel prior to filing with the Commission, or (d) the
Investor shall reasonably object after being so advised or after having completed its review (provided, however, that the failure of the Investor to make such objection shall not relieve the Company of any obligation or
liability under this Agreement or affect the Investor’s right to rely on the representations and warranties made by the Company in this Agreement), unless the Company reasonably has determined that it is necessary to amend the Registration
Statement or make any supplement to the Prospectus to comply with the Securities Act or any other applicable law or regulation, in which case the Company shall promptly (but in no event later than 24 hours) so inform the Investor, the Investor shall
be provided with a reasonable opportunity to review and comment upon any disclosure relating to the Investor and the Company shall expeditiously furnish to the Investor an electronic copy thereof (it being acknowledged and agreed that the provisions
of Section 1.4, and not this Section 5.8, shall apply with respect to the Initial Prospectus Supplement). In addition, for so long as, in the reasonable opinion of counsel for the Investor, the Prospectus (or in lieu thereof, the notice
referred to in Rule 173(a) under the Securities Act) is required to be delivered in connection with any acquisition or sale of Shares by the Investor, the Company shall not file any (1) Prospectus Supplement with respect to the Shares, without
delivering or making available a copy of such Prospectus Supplement (in the form filed with the Commission), together with the Base Prospectus, to the Investor promptly after the filing thereof with the Commission, or (2) any amendment to the
Registration Statement, without promptly delivering or making available a copy of such amendment to the Registration Statement (in the form filed with the Commission) to the Investor promptly after the filing thereof with the Commission, in each
case via e-mail in “.pdf” format to an e-mail account designated by the Investor. 

  
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 (ii) The Company has not made, and agrees that unless it obtains the prior written consent
of the Investor it will not make, an offer relating to the Shares that would constitute an Issuer Free Writing Prospectus or that would otherwise constitute a Free Writing Prospectus required to be filed by the Company or the Investor with the
Commission or retained by the Company or the Investor under Rule 433 under the Securities Act. The Investor has not made, and agrees that unless it obtains the prior written consent of the Company it will not make, an offer relating to the Shares
that would constitute a Free Writing Prospectus required to be filed by the Company with the Commission or retained by the Company under Rule 433 under the Securities Act. Any such Issuer Free Writing Prospectus or other Free Writing Prospectus
consented to by the Investor or the Company is referred to in this Agreement as a “Permitted Free Writing Prospectus.” The Company agrees that (x) it has treated and will treat, as the case may be, each Permitted Free Writing
Prospectus as an Issuer Free Writing Prospectus and (y) it has complied and will comply, as the case may be, with the requirements of Rules 164 and 433 under the Securities Act applicable to any Permitted Free Writing Prospectus, including in
respect of timely filing with the Commission, legending and record keeping. 
 Section 5.9 Prospectus
Delivery. For so long as, in the reasonable opinion of counsel for the Investor, the Prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Securities Act) is required to be delivered in connection with any
acquisition or sale of Shares by the Investor, the Company will furnish to the Investor and its counsel (at the expense of the Company) a copy of the Base Prospectus and all Prospectus Supplements that are filed with the Commission, in each case, in
the form filed with the Commission, as soon as reasonably practicable via e-mail in “.pdf” format to an e-mail account designated by the Investor and, at the Investor’s request, will also furnish a reasonable number of copies of the
Base Prospectus and all Prospectus Supplements, in each case, in the form filed with the Commission, to each exchange or market on which sales of the Shares may be made and to each Broker-Dealer or other Person designated by the Investor. The
Company consents to the use of the Prospectus (and of any Prospectus Supplement thereto) in accordance with the provisions of the Securities Act and with the securities or “Blue Sky” laws of the jurisdictions in which the Shares may be
sold by the Investor, in connection with the offering and sale of the Shares and for such period of time thereafter as the Prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Securities Act) is required by the Securities
Act to be delivered in connection with sales of the Shares. If during such period of time any event shall occur that in the judgment of the Company and its counsel is required to be set forth in the Registration Statement or the Prospectus or any
Permitted Free Writing Prospectus or should be set forth therein in order to make the statements made therein (in the case of the Prospectus, in light of the circumstances under which they were made) not misleading, or if it is necessary to amend
the Registration Statement or supplement or amend the Prospectus or any Permitted Free Writing Prospectus to comply with the Securities Act or any other applicable law or regulation, the Company shall forthwith prepare and, subject to
Section 5.8 above, file with the Commission an appropriate amendment to the Registration Statement or Prospectus Supplement to the Prospectus (or supplement to the Permitted Free Writing Prospectus) and shall expeditiously furnish or make
available to the Investor a copy thereof in accordance with this Section 5.9. The Investor shall comply with any Prospectus delivery requirements under the Securities Act applicable to it. The Investor acknowledges and agrees that it is not
authorized to give any information or to make any representation not contained in the Prospectus or the documents incorporated by reference or specifically referred to therein in connection with the offer and sale of the Shares. 

  
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 Section 5.10 Selling Restrictions. 

(i) Except as expressly set forth below, the Investor covenants that from and after the date hereof through and including the 90th day
next following the termination of this Agreement (the “Restricted Period”), neither the Investor nor any of its Affiliates nor any entity managed or controlled by the Investor (collectively, the “Restricted Persons”
and each of the foregoing is referred to herein as a “Restricted Person”) shall, directly or indirectly, (x) engage in any Short Sales involving the Company’s securities or (y) grant any option to purchase, or acquire
any right to dispose of or otherwise dispose for value of, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for any shares of Common Stock, or enter into any swap, hedge or other similar agreement that
transfers, in whole or in part, the economic risk of ownership of the Common Stock. Notwithstanding the foregoing, it is expressly understood and agreed that nothing contained herein shall (without implication that the contrary would otherwise be
true) prohibit any Restricted Person during the Restricted Period from: (1) selling “long” (as defined under Rule 200 promulgated under Regulation SHO) any shares of Common Stock (including the Shares); or (2) selling a number of
shares of Common Stock equal to (x) the number of Shares that such Restricted Person is or may be obligated to purchase under a pending Fixed Request Notice and/or (y) the number of Shares that such Restricted Person may purchase under a
pending Optional Amount, but, in each case, has not yet taken possession of so long as such Restricted Person (or the Broker-Dealer, as applicable) delivers the Shares purchased pursuant to such Fixed Request Notice and/or Optional Amount to the
purchaser thereof or the applicable Broker-Dealer; provided, however, such Restricted Person (or the applicable Broker-Dealer, as applicable) shall not be required to so deliver any such Shares subject to such Fixed Request Notice or
Optional Amount, as the case may be, if (a) such Fixed Request or Optional Amount, as the case may be, is terminated by mutual agreement of the Company and the Investor and, as a result of such termination, no such Shares are delivered to the
Investor under this Agreement or (b) the Company otherwise fails to deliver such Shares to the Investor on the applicable Settlement Date upon the terms and subject to the provisions of this Agreement. 

(ii) In addition to the foregoing, in connection with any sale of Shares (including any sale permitted by paragraph (i) above), the
Investor shall comply in all respects with all applicable laws, rules, regulations and orders, including, without limitation, the requirements of the Securities Act and the Exchange Act. 

Section 5.11 Effective Registration Statement. The Company shall use its reasonable best efforts to keep the
Registration Statement effective pursuant to Rule 415 promulgated under the Securities Act, and to keep the Registration Statement and the Prospectus current and available for issuances and sales of Shares by the Company to the Investor, and for the
resale of Shares by the Investor, at all times during the term of this Agreement and, to the extent the Investor owns any Shares upon the termination of this Agreement, until the 180th day next following the termination of this Agreement (the
“Registration Period”). Without limiting the generality of the foregoing, during the Registration Period, the Company shall prepare and, 

  
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subject to Section 5.8 above, file with the Commission, at the Company’s expense, such amendments (including, without limitation, post-effective amendments) to the Registration
Statement and such Prospectus Supplements pursuant to Rule 424(b) under the Securities Act, in each case, as may be necessary to keep the Registration Statement effective pursuant to Rule 415 promulgated under the Securities Act, and to keep the
Registration Statement and the Prospectus current and available for issuances and sales of Shares by the Company to the Investor, and for the resale of Shares by the Investor, at all times during the Registration Period. Without limiting the
generality of the foregoing, if, immediately prior to the third (3rd) anniversary of the initial effective date of the Registration Statement (the “Renewal Date”), any of the Shares that have been or may be issued pursuant to
this Agreement have not been issued by the Company or resold by the Investor and the Registration Period has not expired, the Company will, prior to the Renewal Date, file a new Registration Statement relating to the Shares, in a form satisfactory
to the Investor and its counsel, and, if such Registration Statement is not an automatic shelf registration statement on Form S-3ASR, will use its reasonable best efforts to cause such Registration Statement to be declared effective within 180 days
after the Renewal Date. The Company will take all other reasonable actions necessary or appropriate to permit the public offer and sale of the Shares (and the resale thereof by the Investor) to continue as contemplated in the expired Registration
Statement relating to the Shares. From and after the effective date thereof, references herein to the “Registration Statement” shall include such new Registration Statement. 

Section 5.12 Non-Public Information. Neither the Company or any of its Subsidiaries, nor any of their respective
directors, officers, employees or agents shall disclose any material non-public information about the Company to the Investor, unless a simultaneous public announcement thereof is made by the Company in the manner contemplated by Regulation FD. In
the event of a breach of the foregoing covenant by the Company or any of its Subsidiaries, or any of their respective directors, officers, employees and agents, on the Cleansing Date (defined below) and in compliance with the conditions set forth
below, the Investor may publicly disclose such information without the prior approval by the Company, any of its Subsidiaries, or any of their respective directors, officers, employees or agents, to the extent the Investor (in its reasonable good
faith judgment) deems such information to be material non-public information, in the form of a press release, public advertisement or otherwise; provided, however, prior to exercising this right, the Investor shall provide the Company
with written notice of the Company’s alleged failure to disclose such information, which notice shall (i) include a description of the disclosure that the Investor intends to make and (ii) provide the Company with at least one
(1) business day to cure such failure (the first business day following such one-business day cure period, the “Cleansing Date”). The Investor shall not have any liability to the Company, any of its Subsidiaries, or any of
their respective directors, officers, employees, stockholders or agents, for any such disclosure. 
 Section 5.13
Broker/Dealer. The Investor shall use one or more broker-dealers to effectuate all sales, if any, of the Shares that it may acquire or purchase from the Company pursuant to this Agreement which (or whom) shall be unaffiliated with the
Investor and FWG and not then currently engaged or used by the Company (collectively, the “Broker-Dealer”). The Investor shall provide the Company with all information regarding the Broker-Dealer reasonably requested by the Company.
The Investor shall be solely responsible for all fees and commissions of the Broker-Dealer, which shall not exceed customary brokerage fees and commissions. 

  
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 Section 5.14 Earnings Statement. The Company will make generally
available to its security holders as soon as practicable, but in any event not later than 15 months after the end of the Company’s current fiscal quarter, an earnings statement covering a 12-month period that satisfies the provisions of
Section 11(a) of and Rule 158 under the Securities Act. The terms “earnings statement” and “make generally available to its security holders” shall have the meanings set forth in Rule 158 under the Securities Act.

 Section 5.15 Disclosure Schedule. 
 (i) From time to time during the Investment Period, the Company shall be permitted to update the Disclosure Schedule as may be required to satisfy the condition set forth in Section 6.3(i). For
purposes of this Section 5.15, any disclosure made in a schedule to the Compliance Certificate substantially in the form attached hereto as Exhibit D shall be deemed to be an update of the Disclosure Schedule. Notwithstanding anything in
this Agreement to the contrary, no update to the Disclosure Schedule pursuant to this Section 5.15 shall cure any breach of a representation or warranty of the Company contained in this Agreement and shall not affect any of the Investor’s
rights or remedies with respect thereto. 
 (ii) Notwithstanding anything to the contrary contained in the Disclosure Schedule or
in this Agreement, the information and disclosure contained in any Schedule of the Disclosure Schedule shall be deemed to be disclosed and incorporated by reference in any other Schedule of the Disclosure Schedule as though fully set forth in such
Schedule for which applicability of such information and disclosure is readily apparent on its face. The fact that any item of information is disclosed in the Disclosure Schedule shall not be construed to mean that such information is required to be
disclosed by this Agreement. Except as expressly set forth in this Agreement, such information and the thresholds (whether based on quantity, qualitative characterization, dollar amounts or otherwise) set forth herein shall not be used as a basis
for interpreting the terms “material” or “Material Adverse Effect” or other similar terms in this Agreement. 

ARTICLE VI 

OPINION OF COUNSEL AND CERTIFICATE; 
 CONDITIONS TO THE SALE AND PURCHASE OF THE SHARES 
 Section 6.1
Opinion of Counsel; Certificate. 
 (i) Simultaneously with the execution and delivery of this Agreement on the
Effective Date, the Company shall deliver to the Investor (a) an opinion of outside counsel to the Company, dated the Effective Date, substantially in the form heretofore mutually agreed to by the parties hereto and (b) a certificate from
the Company, dated the Effective Date, in the form of Exhibit C hereto. On or prior to the Effective Date, the Company shall have paid by wire transfer of immediately available funds to an account designated by the Investor’s counsel,
the fees and expenses of the Investor’s counsel in accordance with the proviso to the first sentence of Section 9.1(i) of this Agreement. 

  
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 (ii) Simultaneously with the execution and delivery of this Agreement on the Effective Date,
the Company shall cause its independent accountants to furnish to the Investor comfort letters substantially in the form heretofore mutually agreed to by the parties hereto, (i) confirming that they are an independent registered public
accounting firm within the meaning of the Securities Act and the PCAOB and (ii) 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’ “comfort letters” to the Investor in connection with registered public offerings. 

Section 6.2 Conditions Precedent to the Obligation of the Company. The obligation hereunder of the Company to issue
and sell the Shares to the Investor under any Fixed Request or Optional Amount is subject to the satisfaction or (to the extent permitted by applicable law) waiver of each of the conditions set forth below. These conditions are for the
Company’s sole benefit and (to the extent permitted by applicable law) may be waived by the Company at any time in its sole discretion. 
 (i) Accuracy of the Investor’s Representations and Warranties. The representations and warranties of the Investor contained in this Agreement (a) that are not qualified by
“materiality” shall have been true and correct in all material respects when made and shall be true and correct in all material respects as of the applicable Fixed Request Exercise Date and the applicable Settlement Date with the same
force and effect as if made on such dates, except to the extent such representations and warranties are as of another date, in which case, such representations and warranties shall be true and correct in all material respects as of such other date
and (b) that are qualified by “materiality” shall have been true and correct when made and shall be true and correct as of the applicable Fixed Request Exercise Date and the applicable Settlement Date with the same force and effect as
if made on such dates, except to the extent such representations and warranties are as of another date, in which case, such representations and warranties shall be true and correct as of such other date. 

(ii) Registration Statement. The Registration Statement is effective and neither the Company nor the Investor shall have
received notice that the Commission has issued or intends to issue a stop order with respect to the Registration Statement. The Company shall have a maximum dollar amount certain of Common Stock registered under the Registration Statement which
(A) as of the Effective Date, is sufficient to issue to the Investor not less than the Total Commitment worth of Common Stock and (B) as of the applicable Fixed Request Exercise Date and the applicable Settlement Date, is sufficient to
issue to the Investor not less than the maximum dollar amount worth of Shares issuable pursuant to the applicable Fixed Request Notice and applicable Optional Amount, if any. 
 (iii) Other Commission Filings. The Current Report shall have been filed with the Commission as required pursuant to Section 1.4, and all Prospectus Supplements required to have been
filed with the Commission pursuant to Section 1.4 shall have been filed with the Commission in accordance with Section 1.4. All reports, schedules, registrations, forms, statements, information and other documents required to have been
filed by the Company with the Commission pursuant to the reporting requirements of the Exchange Act, including all material required to have been filed pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, shall have been filed with
the Commission and such filings shall have been made within the applicable time period prescribed for such filing under the Exchange Act. All other material required to be filed by the Company or any other offering participant pursuant to Rule
433(d) under the Securities Act shall have been filed with the Commission within the applicable time periods prescribed for such filings by Rule 433 under the Securities Act. 

  
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 (iv) Performance by the Investor. The Investor shall have performed, satisfied
and complied in all material respects with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Investor at or prior to the applicable Fixed Request Exercise Date and the applicable
Settlement Date. 
 (v) No Injunction. No statute, regulation, order, decree, writ, ruling or injunction shall have
been enacted, entered, promulgated, threatened or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation of or which would materially modify or delay any of the transactions contemplated by this
Agreement. 
 (vi) No Suspension, Etc. Trading in the Common Stock shall not have been suspended by the Commission
or the Trading Market (except for any suspension of trading of limited duration agreed to by the Company, which suspension shall be terminated prior to the applicable Fixed Request Exercise Date and applicable Settlement Date), and, at any time
prior to the applicable Fixed Request Exercise Date and applicable Settlement Date, none of the events described in clauses (i), (ii) and (iii) of Section 5.7 shall have occurred, trading in securities generally as reported on the
Trading Market shall not have been suspended or limited, nor shall a banking moratorium have been declared either by the United States or New York State authorities, nor shall there have occurred any material outbreak or escalation of hostilities or
other national or international calamity or crisis of such magnitude in its effect on, or any material adverse change in, any financial, credit or securities market which, in each case, in the reasonable judgment of the Company, makes it
impracticable or inadvisable to issue the Shares. 
 (vii) No Proceedings or Litigation. No action, suit or
proceeding before any arbitrator or any court or governmental authority shall have been commenced or threatened, and no inquiry or investigation by any governmental authority shall have been commenced or threatened, against the Company or any
Subsidiary, or any of the officers, directors or Affiliates of the Company or any Subsidiary, seeking to restrain, prevent or change the transactions contemplated by this Agreement, or seeking damages in connection with such transactions.

 (viii) Aggregate Limit. The issuance and sale of the Shares issuable pursuant to such Fixed Request or Optional
Amount shall not violate Sections 1.1, 2.2, 2.12, 2.13, 4.20(ii) and 5.5 hereof. 
 (ix) No Unresolved FINRA
Objection. There shall not exist any unresolved objection raised by FINRA’s Corporate Financing Department with respect to the fairness and reasonableness of the terms of the transactions contemplated by this Agreement. 

Section 6.3 Conditions Precedent to the Obligation of the Investor. The obligation hereunder of the Investor to
accept a Fixed Request Notice or Optional Amount grant and to acquire and pay for the Shares is subject to the satisfaction or (to the extent permitted by applicable law) waiver, at or before each Fixed Request Exercise Date and each Settlement
Date, of each of the conditions set forth below. These conditions are for the Investor’s sole benefit and (to the extent permitted by applicable law) may be waived by the Investor at any time in its sole discretion. 

  
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 (i) Accuracy of the Company’s Representations and Warranties. The
representations and warranties of the Company contained in this Agreement, as modified by the Disclosure Schedule (a) that are not qualified by “materiality” or “Material Adverse Effect” shall have been true and correct in
all material respects when made and shall be true and correct in all material respects as of the applicable Fixed Request Exercise Date and the applicable Settlement Date with the same force and effect as if made on such dates, except to the extent
such representations and warranties are as of another date, in which case, such representations and warranties shall be true and correct in all material respects as of such other date and (b) that are qualified by “materiality” or
“Material Adverse Effect” shall have been true and correct when made and shall be true and correct as of the applicable Fixed Request Exercise Date and the applicable Settlement Date with the same force and effect as if made on such dates,
except to the extent such representations and warranties are as of another date, in which case, such representations and warranties shall be true and correct as of such other date. 

(ii) Registration Statement. The Registration Statement is effective and neither the Company nor the Investor shall have
received notice that the Commission has issued or intends to issue a stop order with respect to the Registration Statement. The Company shall have a maximum dollar amount certain of Common Stock registered under the Registration Statement which
(A) as of the Effective Date, is sufficient to issue to the Investor not less than the Total Commitment worth of Common Stock and (B) as of the applicable Fixed Request Exercise Date and the applicable Settlement Date, is sufficient to
issue to the Investor not less than the maximum dollar amount worth of Shares issuable pursuant to the applicable Fixed Request Notice and applicable Optional Amount, if any. As of the Effective Date, the applicable Fixed Request Exercise Date and
the applicable Settlement Date, the Investor shall be permitted to utilize the Prospectus to resell all of the Shares it then owns or has the right to acquire pursuant to all Fixed Request Notices issued pursuant to this Agreement. 

(iii) Other Commission Filings. The Current Report shall have been filed with the Commission as required pursuant to
Section 1.4, and all Prospectus Supplements required to have been filed with the Commission pursuant to Section 1.4 shall have been filed with the Commission in accordance with Section 1.4. All reports, schedules, registrations,
forms, statements, information and other documents required to have been filed by the Company with the Commission pursuant to the reporting requirements of the Exchange Act, including all material required to have been filed pursuant to Sections
13(a), 13(c), 14 or 15(d) of the Exchange Act, shall have been filed with the Commission and such filings shall have been made within the applicable time period prescribed for such filing under the Exchange Act. All other material required to be
filed by the Company or any other offering participant pursuant to Rule 433(d) under the Securities Act shall have been filed with the Commission within the applicable time periods prescribed for such filings by Rule 433 under the Securities Act.

 (iv) No Suspension. Trading in the Common Stock shall not have been suspended by the Commission or the Trading
Market (except for any suspension of trading of limited duration agreed to by the Company, which suspension shall be terminated prior to the applicable Fixed Request Exercise Date and applicable Settlement Date), and the Company shall

  
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not have received any notice that the listing or quotation of the Common Stock on the Trading Market shall be terminated on a date certain (which termination shall be final and non-appealable).
At any time prior to the applicable Fixed Request Exercise Date and applicable Settlement Date, none of the events described in clauses (i), (ii) and (iii) of Section 5.7 shall have occurred, trading in securities generally as
reported on the Trading Market shall not have been suspended or limited, nor shall a banking moratorium have been declared either by the United States or New York State authorities, nor shall there have occurred any material outbreak or escalation
of hostilities or other national or international calamity or crisis of such magnitude in its effect on, or any material adverse change in, any financial, credit or securities market which, in each case, in the reasonable judgment of the Investor,
makes it impracticable or inadvisable to purchase the Shares. 
 (v) Performance of the Company. The Company shall
have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the applicable Fixed Request Exercise
Date and the applicable Settlement Date. The Company shall have delivered to the Investor on the applicable Settlement Date the Compliance Certificate substantially in the form attached hereto as Exhibit D. 

(vi) No Injunction. No statute, rule, regulation, order, decree, writ, ruling or injunction shall have been enacted,
entered, promulgated, threatened or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation of or which would materially modify or delay any of the transactions contemplated by this Agreement.

 (vii) No Proceedings or Litigation. No action, suit or proceeding before any arbitrator or any court or
governmental authority shall have been commenced or threatened, and no inquiry or investigation by any governmental authority shall have been commenced or threatened, against the Company or any Subsidiary, or any of the officers, directors or
Affiliates of the Company or any Subsidiary, seeking to restrain, prevent or change the transactions contemplated by this Agreement, or seeking damages in connection with such transactions. 

(viii) Aggregate Limit. The issuance and sale of the Shares issuable pursuant to such Fixed Request Notice or Optional
Amount shall not violate Sections 1.1, 2.2, 2.12, 2.13, 4.20(ii) and 5.5 hereof. 
 (ix) Shares Authorized and
Delivered. The Shares issuable pursuant to such Fixed Request Notice or Optional Amount shall have been duly authorized by all necessary corporate action of the Company. The Company shall have delivered all Shares relating to all prior Fixed
Request Notices and Optional Amounts, as applicable. 
 (x) Listing of Shares. All of the Shares that may be issued
pursuant to this Agreement shall have been approved for listing or quotation on the Trading Market as of the Effective Date, subject only to notice of issuance. 
 (xi) No Termination Event. There shall not have occurred any event that would permit the Investor to terminate this Agreement pursuant to Section 7.2. 

  
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 (xii) Opinions of Counsel; Bring-Down. Subsequent to the filing of the Current
Report pursuant to Section 1.4 and prior to the first Fixed Request Exercise Date, the Investor shall have received (i) an opinion from outside counsel to the Company substantially in the form heretofore mutually agreed to by the parties
hereto, and (ii) a customary comfort letter from the Company’s independent accountants in the form heretofore mutually agreed by the parties hereto. On each Settlement Date, the Investor shall have received (i) an opinion “bring
down” from outside counsel to the Company substantially in the form heretofore mutually agreed to by the parties hereto, and (ii) a customary comfort letter “bring down” from the Company’s independent accountants in the form
heretofore mutually agreed by the parties hereto. 
 (xiii) No Unresolved FINRA Objection. There shall not exist
any unresolved objection raised by FINRA’s Corporate Financing Department with respect to the fairness and reasonableness of the terms of the transactions contemplated by this Agreement. 

ARTICLE VII 

TERMINATION 
 Section 7.1 Term, Termination by Mutual Consent. Unless earlier terminated as provided hereunder, this Agreement shall terminate automatically on the earliest of (i) the
first day of the month next following the 24-month anniversary of the Effective Date (the “Investment Period”), (ii) the date that the entire dollar amount of Common Stock registered under the Registration Statement has been
issued and sold and (iii) the date the Investor shall have purchased or acquired shares of Common Stock pursuant to this Agreement equal to the Aggregate Limit. Subject to Section 7.3, this Agreement may be terminated at any time
(A) by the mutual written consent of the parties, effective as of the date of such mutual written consent unless otherwise provided in such written consent, it being hereby acknowledged and agreed that the Investor may not consent to such
termination during a Pricing Period or prior to a Settlement Date in the event the Investor has instructed the Broker-Dealer to effect an open-market sale of Shares which are subject to a pending Fixed Request or Optional Amount but which have not
yet been physically delivered by the Company (and/or credited by book-entry) to the Investor in accordance with the terms and subject to the conditions of this Agreement, or (B) by either the Company or the Investor effective upon written
notice to the other party under Section 9.4, if FINRA’s Corporate Financing Department has raised any objection with respect to the fairness and reasonableness of the terms of the transactions contemplated by this Agreement, or has
otherwise failed to confirm in writing that it has determined not to raise any such objection, and such objection shall not have been resolved, or such confirmation of no objection shall not have been obtained, prior to (1) the 60th day
immediately following the Effective Date, in the case of an objection raised or confirmation failure occurring prior to the first Fixed Request Exercise Date, or (2) prior to the 60th day immediately following the receipt by the Company or the
Investor of notice of such objection, in the case of an objection raised after the first Fixed Request Exercise Date; provided however, that (x) the party seeking to terminate this Agreement pursuant to this clause (B) of
Section 7.1 shall have used its commercially reasonable efforts to resolve such objection and/or to obtain such confirmation of no objection in accordance with and subject to the provisions of Section 5.1(ii) of this Agreement and
(y) the right to terminate this Agreement pursuant to this clause (B) of Section 7.1 shall not be available to any party whose action or failure to act has been a principal cause of, or has resulted in, such objection or

  
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confirmation failure and such action or failure to act constitutes a breach of this Agreement. Subject to Section 7.3, the Company may terminate this Agreement effective upon three Trading
Days’ prior written notice to the Investor delivered in accordance with Section 9.4; provided, however, that (i) such termination shall not occur during any Pricing Period with respect to a pending Fixed Request or
Optional Amount or prior to the Settlement Date related to such pending Fixed Request or Optional Amount, and (ii) prior to issuing any press release, or making any public statement or announcement, with respect to such termination, the Company
shall consult with the Investor and shall obtain the Investor’s consent to the form and substance of such press release or other disclosure, which consent shall not be unreasonably delayed or withheld. 

Section 7.2 Other Termination. If the Company provides the Investor with an Other Financing Notice or an Integration
Notice, in each case pursuant to Section 5.6(ii) of this Agreement, or if the Company otherwise enters into any agreement, plan, arrangement or transaction with a third party or determines to utilize any existing agreement, plan or arrangement
with a third party, in each case the principal purpose of which is to implement, effect or consummate outside a Pricing Period, but otherwise during the Investment Period, a Similar Financing, an ATM (other than the Existing ATM) or a Price Reset
Provision (in which case the Company shall so notify the Investor within 48 hours thereof), then in all such cases, subject to Section 7.3, the Investor shall have the right to terminate this Agreement within the subsequent 30-day period (the
“Event Period”), effective upon one Trading Day’s prior written notice delivered to the Company in accordance with Section 9.4 at any time during the Event Period. The Company shall promptly (but in no event later than 24
hours) notify the Investor (and, if required under applicable law, including, without limitation, Regulation FD promulgated by the Commission, or under the applicable rules and regulations of the Trading Market, the Company shall publicly disclose
such information in accordance with Regulation FD and the applicable rules and regulations of the Trading Market), and, subject to Section 7.3, the Investor shall have the right to terminate this Agreement at any time after receipt of such
notification, upon one Trading Day’s prior written notice delivered to the Company in accordance with Section 9.4 hereof, if: (i) any condition, occurrence, state of facts or event constituting a Material Adverse Effect has occurred;
(ii) a Fundamental Transaction has occurred or the Company enters into a definitive agreement providing for a Fundamental Transaction; (iii) the effectiveness of the Registration Statement lapses for any reason (including, without
limitation, the issuance of a stop order) or the Registration Statement or the Prospectus is otherwise unavailable to the Company for the sale of Shares or to the Investor for the resale of Shares, and such lapse or unavailability continues for a
period of 20 consecutive Trading Days or for more than an aggregate of 60 Trading Days in any 365-day period, other than due to acts of the Investor; (iv) trading in the Common Stock on the Trading Market shall have been suspended or the Common
Stock shall have failed to be listed or quoted on the Trading Market, and such suspension or failure continues for a period of 20 consecutive Trading Days or for more than an aggregate of 60 Trading Days in any 365-day period; (v) the Company
has filed for and/or is subject to any bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings for relief under any bankruptcy law or any law for the relief of debtors instituted by or against the Company; or
(vi) the Company is in material breach or default of this Agreement, and, if such breach or default is capable of being cured, such breach or default is not cured within 10 Trading Days after notice of such breach or default is delivered to the
Company pursuant to Section 9.4. 

  
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 Section 7.3 Effect of Termination. In the event of termination by the
Company or the Investor pursuant to Section 7.1 or 7.2, as applicable, written notice thereof shall forthwith be given to the other party as provided in Section 9.4 and the transactions contemplated by this Agreement shall be terminated
without further action by either party. If this Agreement is terminated as provided in Section 7.1 or 7.2 herein, this Agreement shall become void and of no further force and effect, except that (i) the provisions of Article VIII
(Indemnification), Section 9.1 (Fees and Expenses), Section 9.2 (Specific Enforcement, Consent to Jurisdiction, Waiver of Jury Trial), Section 9.4 (Notices), Section 9.8 (Governing Law), Section 9.9 (Survival),
Section 9.11 (Publicity), Section 9.12 (Severability) and this Article VII (Termination) shall remain in full force and effect notwithstanding such termination, (ii) if the Investor owns any Shares at the time of such termination, the
covenants and agreements of the Company and the Investor, as applicable, contained in Section 5.1(i) (Securities Compliance; FINRA Filing), Section 5.3 (Compliance with Laws), Section 5.7 (Stop Orders), Section 5.8 (Amendments to
the Registration Statement; Prospectus Supplements; Free Writing Prospectuses), Section 5.9 (Prospectus Delivery), Section 5.11 (Effective Registration Statement), Section 5.12 (Non-Public Information) and Section 5.13
(Broker/Dealer) shall remain in full force and effect notwithstanding such termination for a period of six months following such termination, (iii) the covenants and agreements of the Investor contained in Section 5.10 (Selling
Restrictions) shall remain in full force and effect notwithstanding such termination for a period of 90 days following such termination, and (iv) if the Investor owns any Shares at the time of such termination, the covenants and agreements of
the Company contained in Section 5.2 (Registration and Listing) shall remain in full force and effect notwithstanding such termination for a period of 30 days following such termination. Notwithstanding anything in this Agreement to the
contrary, no termination of this Agreement by any party shall affect any cash fees paid to the Investor’s counsel pursuant to Section 9.1, all of which fees shall be non-refundable, regardless of whether any Fixed Requests are issued by
the Company or settled hereunder. Nothing in this Section 7.3 shall be deemed to release the Company or the Investor from any liability for any breach under this Agreement or to impair the rights of the Company and the Investor to compel
specific performance by the other party of its obligations under this Agreement. 
 ARTICLE VIII 

INDEMNIFICATION 
 Section 8.1 General Indemnity. 
 (i) Indemnification by
the Company. The Company shall indemnify and hold harmless the Investor, each of its directors, officers, partners, employees and Affiliates, and each Person, if any, who controls the Investor within the meaning of Section 15 of the
Securities Act or Section 20(a) of the Exchange Act from and against all losses, claims, damages, liabilities and expenses (including reasonable costs of defense and investigation, all amounts paid in settlement (in accordance with
Section 8.2) and all reasonable attorneys’ fees) to which the Investor and each such other Person may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages, liabilities and expenses arise out of or
are based upon (a) any violation of United States federal or state securities laws or the rules and regulations of the Trading Market in connection with the transactions contemplated by this Agreement by the Company or any of its Subsidiaries,
affiliates, officers, directors or employees, (b) any untrue 

  
 43 

 
statement or alleged untrue statement of a material fact contained, or incorporated by reference, in the Registration Statement or any amendment thereto or any omission or alleged omission to
state therein, or in any document incorporated by reference therein, a material fact required to be stated therein or necessary to make the statements therein not misleading, or (c) any untrue statement or alleged untrue statement of a material
fact contained, or incorporated by reference, in the Prospectus, any Issuer Free Writing Prospectus, or in any amendment thereof or supplement thereto, or in any “issuer information” (as defined in Rule 433 under the Securities Act) of the
Company, which “issuer information” is required to be, or is, filed with the Commission or otherwise contained in any Free Writing Prospectus, or any amendment or supplement thereto, or any omission or alleged omission to state therein, or
in any document incorporated by reference therein, a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; provided, however,
that (A) the Company shall not be liable under this Section 8.1(i) to the extent that a court of competent jurisdiction shall have determined by a final judgment (from which no further appeals are available) that such loss, claim, damage,
liability or expense resulted directly from any such acts or failures to act, undertaken or omitted to be taken by the Investor or such Person through its bad faith or willful misconduct, (B) the foregoing indemnity shall not apply to any loss,
claim, damage, liability or expense to the extent, but only to the extent, arising out of or based upon any untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with written information
furnished to the Company by or on behalf of the Investor expressly for use in the Current Report or any Prospectus Supplement or Permitted Free Writing Prospectus, or any amendment thereof or supplement thereto, and (C) with respect to the
Prospectus, the foregoing indemnity shall not inure to the benefit of the Investor or any such Person from whom the Person asserting any loss, claim, damage, liability or expense purchased Common Stock, if copies of all Prospectus Supplements
required to be filed pursuant to Section 1.4, together with the Base Prospectus, were timely delivered or made available to the Investor pursuant hereto and a copy of the Base Prospectus, together with a Prospectus Supplement (as applicable),
was not sent or given by or on behalf of the Investor or any such Person to such Person, if required by law to have been delivered, at or prior to the written confirmation of the sale of the Common Stock to such Person, and if delivery of the Base
Prospectus, together with a Prospectus Supplement (as applicable), would have cured the defect giving rise to such loss, claim, damage, liability or expense. 
 The Company shall reimburse the Investor and each such controlling Person promptly upon demand (with accompanying presentation of documentary evidence) for all legal and other costs and expenses
reasonably incurred by the Investor or such indemnified Persons in investigating, defending against, or preparing to defend against any such claim, action, suit or proceeding with respect to which it is entitled to indemnification. 

(ii) Indemnification by the Investor. The Investor shall indemnify and hold harmless the Company, each of its directors,
officers, employees and Affiliates, and each Person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange Act from and against all losses, claims, damages, liabilities and
expenses (including reasonable costs of defense and investigation, all amounts paid in settlement (in accordance with Section 8.2) and all reasonable attorneys fees) to which the Company and each such other Person may become subject, under the
Securities Act or otherwise, insofar as such losses, claims, damages, liabilities and expenses arise out of or are based upon any untrue 

  
 44 

 
statement or alleged untrue statement of a material fact contained in the Current Report, the Registration Statement or any Prospectus Supplement or Permitted Free Writing Prospectus, or in any
amendment thereof or supplement thereto, or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not
misleading, in each case, to the extent, but only to the extent, the untrue statement, alleged untrue statement, omission or alleged omission was made in reliance upon, and in conformity with, written information furnished by the Investor to the
Company expressly for inclusion in the Current Report, the Registration Statement or such Prospectus Supplement or Permitted Free Writing Prospectus, or any amendment thereof or supplement thereto. 

The Investor shall reimburse the Company and each such director, officer or controlling Person promptly upon demand for all legal and
other costs and expenses reasonably incurred by the Company or such indemnified Persons in investigating, defending against, or preparing to defend against any such claim, action, suit or proceeding with respect to which it is entitled to
indemnification. 
 Section 8.2 Indemnification Procedures. Promptly after a Person receives notice of a
claim or the commencement of an action for which the Person intends to seek indemnification under Section 8.1, the Person will notify the indemnifying party in writing of the claim or commencement of the action, suit or proceeding;
provided, however, that failure to notify the indemnifying party will not relieve the indemnifying party from liability under Section 8.1, except to the extent it has been materially prejudiced by the failure to give notice. The
indemnifying party will be entitled to participate in the defense of any claim, action, suit or proceeding as to which indemnification is being sought, and if the indemnifying party acknowledges in writing the obligation to indemnify the party
against whom the claim or action is brought, the indemnifying party may (but will not be required to) assume the defense against the claim, action, suit or proceeding with counsel satisfactory to it. After an indemnifying party notifies an
indemnified party that the indemnifying party wishes to assume the defense of a claim, action, suit or proceeding, the indemnifying party will not be liable for any legal or other expenses incurred by the indemnified party in connection with the
defense against the claim, action, suit or proceeding except that if, in the opinion of counsel to the indemnifying party, one or more of the indemnified parties should be separately represented in connection with a claim, action, suit or
proceeding, the indemnifying party will pay the reasonable fees and expenses of one separate counsel for the indemnified parties. Each indemnified party, as a condition to receiving indemnification as provided in Section 8.1, will cooperate in
all reasonable respects with the indemnifying party in the defense of any action or claim as to which indemnification is sought. No indemnifying party will be liable for any settlement of any action effected without its prior written consent.
Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested (by written notice provided in accordance with Section 9.4) an indemnifying party to reimburse the indemnified party for fees and expenses of
counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated hereby effected without its written consent if (i) such settlement is entered into more than 45 days after receipt by such
indemnifying party of the aforesaid request, (ii) such indemnifying party shall have received written notice of the terms of such settlement at least 30 days prior to such settlement being entered into and (iii) such indemnifying party
shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement. No 

  
 45 

 
indemnifying party will, without the prior written consent of the indemnified party, effect any settlement of a pending or threatened action with respect to which an indemnified party is, or is
informed that it may be, made a party and for which it would be entitled to indemnification, unless the settlement includes an unconditional release of the indemnified party from all liability and claims which are the subject matter of the pending
or threatened action. 
 If for any reason the indemnification provided for in this Agreement is not available to, or is not
sufficient to hold harmless, an indemnified party in respect of any loss or liability referred to in Section 8.1 as to which such indemnified party is entitled to indemnification thereunder, each indemnifying party shall, in lieu of
indemnifying the indemnified party, contribute to the amount paid or payable by the indemnified party as a result of such loss or liability, (i) in the proportion which is appropriate to reflect the relative benefits received by the
indemnifying party, on the one hand, and by the indemnified party, on the other hand, from the sale of Shares which is the subject of the claim, action, suit or proceeding which resulted in the loss or liability or (ii) if the allocation
provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above, but also the relative fault of the indemnifying party, on the one
hand, and the indemnified party, on the other hand, with respect to the statements or omissions which are the subject of the claim, action, suit or proceeding that resulted in the loss or liability, as well as any other relevant equitable
considerations. 
 The remedies provided for in Section 8.1 and this Section 8.2 are not exclusive and shall not limit
any rights or remedies which may otherwise be available to any indemnified Person at law or in equity. 
 ARTICLE IX

 MISCELLANEOUS 
 Section 9.1 Fees and Expenses. 
 (i) Each party shall bear its
own fees and expenses related to the transactions contemplated by this Agreement; provided, however, that the Company shall pay, on or prior to the Effective Date, by wire transfer of immediately available funds (A) to FINRA, the
applicable filing fee with respect to the FINRA Filing and (B) to an account designated by the Investor’s counsel, promptly following the receipt of an invoice therefor, all reasonable attorneys’ fees and expenses (exclusive of
disbursements and out-of-pocket expenses) incurred by the Investor, up to $35,000, in connection with the preparation, negotiation, execution and delivery of this Agreement, legal due diligence of the Company and review of the Registration
Statement, the Base Prospectus, the Current Report, any Permitted Free Writing Prospectus and all other related transaction documentation. The Company shall pay all U.S. federal, state and local stamp and other similar transfer and other taxes and
duties levied in connection with issuance of the Shares pursuant hereto. For the avoidance of doubt, all of the fees payable to the Investor or its counsel pursuant to this Section 9.1 shall be non-refundable, regardless of whether any Fixed
Requests are issued by the Company or settled hereunder. 

  
 46 

 (ii) If the Company issues a Fixed Request Notice and fails to deliver the Shares (which
have been approved for listing or quotation on the Trading Market, if such an approval is required for the listing or quotation thereof on the Trading Market) to the Investor on the applicable Settlement Date and such failure continues for 10
Trading Days, the Company shall pay the Investor, in cash (or, at the option of the Investor, in shares of Common Stock which have not been registered under the Securities Act valued at the applicable Discount Price of the Shares failed to be
delivered; provided that the issuance thereof by the Company would not violate the Securities Act or any applicable U.S. federal or state securities laws), as partial damages for such failure and not as a penalty, an amount equal to 2.0% of the
payment required to be paid by the Investor on such Settlement Date (i.e., the sum of the Fixed Amount Requested and the Optional Amount Dollar Amount) for the initial 30 days following such Settlement Date until the Shares (which have been approved
for listing or quotation on the Trading Market, if such an approval is required for the listing or quotation thereof on the Trading Market) have been delivered, and an additional 2.0% for each additional 30-day period thereafter until the Shares
(which have been approved for listing or quotation on the Trading Market, if such an approval is required for the listing or quotation thereof on the Trading Market) have been delivered, which amount shall be prorated for such periods less than 30
days, subject in all cases to the Exchange Cap (except to the extent the Exchange Cap shall be inapplicable as expressly provided in Sections 2.12 and 2.13). Nothing in this Section 9.1(ii) shall be deemed to release the Company from any
liability for any breach under this Agreement, or to impair the rights of the Investor to compel specific performance by the Company of its obligations under this Agreement. 
 Section 9.2 Specific Enforcement, Consent to Jurisdiction, Waiver of Jury Trial. 
 (i) The Company and the Investor acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific
terms or were otherwise breached. It is accordingly agreed that either party shall be entitled to an injunction or injunctions to prevent or cure breaches of the provisions of this Agreement by the other party and to enforce specifically the terms
and provisions hereof (without the necessity of showing economic loss and without any bond or other security being required), this being in addition to any other remedy to which either party may be entitled by law or equity. 

(ii) Each of the Company and the Investor (a) hereby irrevocably submits to the jurisdiction of the U.S. District Court and other
courts of the United States sitting in the City and State of New York, Borough of Manhattan, for the purposes of any suit, action or proceeding arising out of or relating to this Agreement, and (b) hereby waives, and agrees not to assert in any
such suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such court, that the suit, action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding is improper.
Each of the Company and the Investor consents to process being served in any such suit, action or proceeding by mailing a copy thereof 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 in this Section 9.2 shall affect or limit any right to serve process in any other manner permitted by law. 

(iii) EACH OF THE COMPANY AND THE INVESTOR HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A
TRIAL BY JURY IN RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS 

  
 47 

 
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR DISPUTES RELATING HERETO. EACH OF THE COMPANY AND THE INVESTOR (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY
HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN TO ENTER INTO THIS AGREEMENT BY,
AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.2. 
 Section 9.3 Entire Agreement;
Amendment. This Agreement, together with the exhibits referred to herein and the Disclosure Schedule, represents the entire agreement of the parties with respect to the subject matter hereof, and there are no promises, undertakings,
representations or warranties by either party relative to subject matter hereof not expressly set forth herein. Except as expressly provided in Section 2.12, no provision of this Agreement may be amended other than by a written instrument
signed by both parties hereto. The Disclosure Schedule and all exhibits to this Agreement are hereby incorporated by reference in, and made a part of, this Agreement as if set forth in full herein. 

Section 9.4 Notices. Any notice, demand, request, waiver or other communication required or permitted to be given
hereunder shall be in writing and shall be effective (a) upon hand delivery or facsimile (with facsimile machine confirmation of delivery received) at the address or number designated below (if delivered on a business day during normal business
hours where such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on the second business day
following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur. The address for such communications shall be: 

 

			
	If to the Company:	  	Delcath Systems, Inc.
		  	810 Seventh Avenue, 35th Floor
		  	New York, New York 10019
		  	 Telephone Number: (212) 489-2100

Email: pgraham@delcath.com

		  	Fax: (212) 489-2102
		  	Attention: Peter Graham
		
	 With a copy (which shall
 not constitute notice) to:
	  	Skadden, Arps, Slate, Meagher & Flom LLP
		  	Four Times Square
		  	New York, New York 10036
		  	 Telephone Number: (212) 735-3000

Email: Andrea.Nicolas@skadden.com

		  	Fax: (917) 735-3416
		  	Attention: Andrea L. Nicolas

  
 48 

			
	If to the Investor:	  	Terrapin Opportunity, L.P.
		  	4th Floor, Rodus Building
		  	P.O. Box 765
		  	Road Town, Tortola
		  	British Virgin Islands
		  	 Telephone Number: (284) 494-8086

Email: alan@terrapin.com

		  	Fax: (284) 494-9474
		  	Attention: Peter W. Poole
		
	 With a copy (which shall
 not constitute notice) to:
	  	Greenberg Traurig, LLP
		  	The MetLife Building
		  	200 Park Avenue
		  	New York, NY 10166
		  	 Telephone Number: (212) 801-9200
 Email: marsicoa@gtlaw.com

		  	Fax: (212) 801-6400
		  	Attention: Anthony J. Marsico

 Either party hereto may from time to time change its address for notices by giving at least 10 days advance written
notice of such changed address to the other party hereto. 
 Section 9.5 Waivers. No waiver by either party
of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any other provisions, condition or requirement hereof nor shall any delay or omission of
any party to exercise any right hereunder in any manner impair the exercise of any such right accruing to it thereafter. No provision of this Agreement may be waived other than in a written instrument signed by the party against whom enforcement of
such waiver is sought. 
 Section 9.6 Headings; Construction. The article, section and subsection headings in
this Agreement are for convenience only and shall not constitute a part of this Agreement for any other purpose and shall not be deemed to limit or affect any of the provisions hereof. Unless the context clearly indicates otherwise, each pronoun
herein shall be deemed to include the masculine, feminine, neuter, singular and plural forms thereof. The terms “including,” “includes,” “include” and words of like import shall be construed broadly as if followed by
the words “without limitation.” The terms “herein,” “hereunder,” “hereof” and words of like import refer to this entire Agreement instead of just the provision in which they are found. The parties agree that
each of them and their respective counsel has reviewed and had an opportunity to revise this Agreement and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be
employed in the interpretation of this Agreement. In addition, each and every reference to share prices and shares of Common Stock in this Agreement shall be subject to adjustment for any stock splits, stock combinations, stock dividends,
recapitalizations and other similar transactions that occur on or after the date of this Agreement. Any reference in this Agreement to “Dollars” or “$” shall mean the lawful currency of the United States of America. 

  
 49 

 Section 9.7 Successors and Assigns. The Investor may not assign this
Agreement to any Person without the prior consent of the Company, in the Company’s sole discretion. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns. The assignment by a party to this
Agreement of any rights hereunder shall not affect the obligations of such party under this Agreement. 
 Section 9.8
Governing Law. This Agreement shall be governed by and construed in accordance with the internal procedural and substantive laws of the State of New York, without giving effect to the choice of law provisions of such state that would
cause the application of the laws of any other jurisdiction. 
 Section 9.9 Survival. The representations,
warranties, covenants and agreements of the Company and the Investor contained in this Agreement shall survive the execution and delivery hereof until the termination of this Agreement; provided, however, that (i) the provisions of Article VII
(Termination), Article VIII (Indemnification), Section 9.1 (Fees and Expenses), Section 9.2 (Specific Enforcement, Consent to Jurisdiction, Waiver of Jury Trial), Section 9.4 (Notices), Section 9.8 (Governing Law),
Section 9.11 (Publicity), Section 9.12 (Severability) and this Section 9.9 (Survival) shall remain in full force and effect notwithstanding such termination, (ii) if the Investor owns any Shares at the time of such termination,
the covenants and agreements of the Company and the Investor, as applicable, contained in Section 5.1(i) (Securities Compliance; FINRA Filing), Section 5.3 (Compliance with Laws), Section 5.7 (Stop Orders), Section 5.8
(Amendments to the Registration Statement; Prospectus Supplements; Free Writing Prospectuses), Section 5.9 (Prospectus Delivery), Section 5.11 (Effective Registration Statement), Section 5.12 (Non-Public Information) and
Section 5.13 (Broker/Dealer) shall remain in full force and effect notwithstanding such termination for a period of six months following such termination, (iii) the covenants and agreements of the Investor contained in Section 5.10
(Selling Restrictions) shall remain in full force and effect notwithstanding such termination for a period of 90 days following such termination, and (iv) if the Investor owns any Shares at the time of such termination, the covenants and
agreements of the Company contained in Section 5.2 (Registration and Listing) shall remain in full force and effect notwithstanding such termination for a period of 30 days following such termination. 

Section 9.10 Counterparts. This Agreement may be executed in counterparts, all of which taken together shall
constitute one and the same original and binding instrument and shall become effective when all counterparts have been signed by each party and delivered to the other parties hereto, it being understood that all parties hereto need not sign the same
counterpart. In the event any signature is delivered by facsimile, digital or electronic transmission, such transmission shall constitute delivery of the manually executed original and the party using such means of delivery shall thereafter cause
four additional executed signature pages to be physically delivered to the other parties within five days of the execution and delivery hereof. Failure to provide or delay in the delivery of such additional executed signature pages shall not
adversely affect the efficacy of the original delivery. 
 Section 9.11 Publicity. The Investor shall have
the right to approve, prior to issuance or filing, any press release, Commission filing or any other public disclosure made by or on behalf of the Company relating to the Investor, its purchases hereunder or any aspect of this Agreement or the
transactions contemplated hereby (unless the same disclosure has been 

  
 50 

 
previously reviewed and approved by the Investor); provided, however, that except as otherwise provided in this Agreement, the Company shall be entitled, without the prior approval of the
Investor, to make any press release or other public disclosure (including any filings with the Commission) with respect thereto as is required by applicable law and regulations (including the regulations of the Trading Market), so long as prior to
making any such press release or other public disclosure, if reasonably practicable, the Company and its counsel shall have provided the Investor and its counsel with a reasonable opportunity to review and comment upon, and shall have consulted with
the Investor and its counsel on the form and substance of, such press release or other disclosure. 
 Section 9.12
Severability. The provisions of this Agreement are severable and, in the event that any court of competent jurisdiction shall determine that any one or more of the provisions or part of the provisions contained in this Agreement shall,
for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision or part of a provision of this Agreement, and this Agreement shall be reformed and
construed as if such invalid or illegal or unenforceable provision, or part of such provision, had never been contained herein, so that such provisions would be valid, legal and enforceable to the maximum extent possible. 

Section 9.13 No Third Party Beneficiaries. Except as expressly provided in Article VIII, this Agreement is intended
only for the benefit of the parties hereto and their respective permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person. 

Section 9.14 Further Assurances. From and after the date of this Agreement, upon the request of the Investor or the
Company, each of the Company and the Investor shall execute and deliver such instrument, documents and other writings as may be reasonably necessary or desirable to confirm and carry out and to effectuate fully the intent and purposes of this
Agreement. 
 [Signature Page Follows] 

  
 51 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed
by their respective authorized officer as of the date first above written. 
  

			
	DELCATH SYSTEMS, INC.:
		
	By:	 	/s/ Eamonn P. Hobbs
		 	Name: Eamonn P. Hobbs
		 	Title: President & CEO
	
	TERRAPIN OPPORTUNITY, L.P.:
		
	By:	 	/s/ Peter Poole
		 	Name: Peter Poole
		 	Title: For: General Partner

  
 52 

 ANNEX A TO THE 
 COMMON STOCK PURCHASE AGREEMENT  
 DEFINITIONS

 “Acceptable Financing” shall have the meaning assigned to such term in Section 5.6(ii) hereof.

 “Affiliate” shall have the meaning assigned to such term in Rule 12b-2 under the Exchange Act. 

“Aggregate Limit” shall have the meaning assigned to such term in Section 1.1 hereof. 

“Agreement” shall have the meaning assigned to such term in the Preamble. 

“Announcement Date” shall have the meaning assigned to such term in Section 2.14 hereof. 

“ATM” shall have the meaning assigned to such term in Section 5.6(ii) hereof. 

“Average Discount Price” shall have the meaning assigned to such term in Section 2.13 hereof. 

“Base Price” shall have the meaning assigned to such term in Section 2.13 hereof. 

“Base Prospectus” shall mean the Company’s prospectus, dated October 9, 2012, a preliminary form of which is
included in the Registration Statement, including the documents incorporated by reference therein. 
 “Below Market
Offering” shall have the meaning assigned to such term in Section 5.6(ii) hereof. 
 “Blackout
Period” shall have the meaning assigned to such term in Section 2.14 hereof. 
 “Broker-Dealer”
shall have the meaning assigned to such term in Section 5.13 hereof. 
 “Bylaws” shall have the meaning
assigned to such term in Section 4.3 hereof. 
 “Charter” shall have the meaning assigned to such term in
Section 4.3 hereof. 
 “Cleansing Date” shall have the meaning assigned to such term in Section 5.12.

 “Code” shall mean the Internal Revenue Code of 1986, as amended. 

“Commission” shall mean the Securities and Exchange Commission or any successor entity. 

“Commission Documents” shall mean (1) all reports, schedules, registrations, forms, statements, information and
other documents filed with or furnished to the Commission by the Company pursuant to the reporting requirements of the Exchange Act, including all material 

 
filed or furnished pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act, since December 31, 2011, including, without limitation, the Annual Report on Form 10-K filed by the
Company for its fiscal year ended December 31, 2011 (the “2011 Form 10-K”), and which hereafter shall be filed with or furnished to the Commission by the Company during the Investment Period, including, without limitation, the
Current Report, (2) the Registration Statement, as the same may be amended from time to time, the Prospectus and each Prospectus Supplement, and each Permitted Free Writing Prospectus and (3) all information contained in such filings and
all documents and disclosures that have been and heretofore shall be incorporated by reference therein. 
 “Common
Stock” shall have the meaning assigned to such term in the Recitals. 
 “Company” shall have the
meaning assigned to such term in the Preamble. 
 “Current Market Price” means, with respect to any particular
measurement date, the closing price of a share of Common Stock as reported on the Trading Market for the Trading Day immediately preceding such measurement date. 
 “Current Report” shall have the meaning assigned to such term in Section 1.4 hereof. 
 “Disclosure Schedule” shall have the meaning assigned to such term in Article IV hereof. 
 “Discount Price” shall have the meaning assigned to such term in Section 2.2 hereof. 
 “Earnings Announcement” shall have the meaning assigned to such term in Section 2.14 hereof. 
 “Earnings 8-K” shall have the meaning assigned to such term in Section 2.14 hereof. 
 “EDGAR” shall have the meaning assigned to such term in Section 4.3 hereof. 
 “Effective Date” shall mean the date of this Agreement. 

“Environmental Laws” shall have the meaning assigned to such term in Section 4.17 hereof. 

“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. 

“ERISA Affiliate” shall have the meaning assigned to such term in Section 4.24. 

“Event Period” shall have the meaning assigned to such term in Section 7.2 hereof. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations of the
Commission thereunder. 

 “Exchange Cap” means, at any time, 15,015,343 shares of duly authorized,
validly issued, fully paid and non-assessable shares of Common Stock (as adjusted for any stock splits, stock combinations, stock dividends, recapitalizations and other similar transactions that occur on or after the date of this Agreement);
provided, however, that the Exchange Cap shall not exceed under any circumstances that number of shares of Common Stock that the Company may issue pursuant to this Agreement and the transactions contemplated hereby without
(a) breaching the Company’s obligations under the rules and regulations of NASDAQ or any other Trading Market on which the Common Stock may be listed or quoted or (b) obtaining stockholder approval under the applicable rules and
regulations of NASDAQ or any other Trading Market on which the Common Stock may be listed or quoted. 
 “Existing
ATM” means the transactions contemplated by the Sales Agreement, dated December 29, 2011, between the Company and Cowen and Company, LLC, and any amendments, supplements, modifications, extensions, renewals, restatements or
replacements thereto or thereof with any financial institution. 
 “FCPA” shall have the meaning assigned to
such term in Section 4.29 hereof. 
 “FDA” shall have the meaning assigned to such term in
Section 4.16(a) hereof. 
 “Filing Time” shall have the meaning assigned to such term in Section 2.14
hereof. 
 “FINRA” shall have the meaning assigned to such term in Section 4.5 hereof. 

“FINRA Filing” shall have the meaning assigned to such term in Section 5.1(ii) hereof. 

“Fixed Amount Requested” shall mean the amount of a Fixed Request requested by the Company in a Fixed Request Notice
delivered pursuant to Section 2.1 hereof. 
 “Fixed Request” means the transactions contemplated under
Sections 2.1 through 2.8 of this Agreement. 
 “Fixed Request Amount” means the actual amount of proceeds
received by the Company pursuant to a Fixed Request under this Agreement. 
 “Fixed Request Exercise Date”
shall have the meaning assigned to such term in Section 2.2 hereof. 
 “Fixed Request Notice” shall have
the meaning assigned to such term in Section 2.1 hereof. 
 “Free Writing Prospectus” shall mean a
“free writing prospectus” as defined in Rule 405 promulgated under the Securities Act. 

 “Fundamental Transaction” means any one or more of the following:
(i) the Company shall, directly or indirectly, in one or more related transactions, (1) consolidate or merge with or into (whether or not the Company is the surviving corporation) another Person, with the result that the holders of the
Company’s capital stock immediately prior to such consolidation or merger together beneficially own less than 50% of the outstanding voting power of the surviving or resulting corporation, or (2) sell, lease, license, assign, transfer,
convey or otherwise dispose of all or substantially all of the properties or assets of the Company to another Person, or (3) take action to facilitate a purchase, tender or exchange offer by another Person that is accepted by the holders of
more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the Person or Persons making or party to, or associated or affiliated with the Persons making or party to, such purchase, tender or exchange
offer), or (4) consummate a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person whereby such other Person
acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such
stock or share purchase agreement or other business combination), or (5) reorganize, recapitalize or reclassify its Common Stock, or (ii) any “person” or “group” (as these terms are used for purposes of
Sections 13(d) and 14(d) of the Exchange Act) is or shall become the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% of the aggregate ordinary voting power represented by issued
and outstanding Common Stock. 
 “FWG” shall have the meaning assigned to such term in Section 4.15
hereof. 
 “GAAP” shall mean generally accepted accounting principles in the United States of America as
applied by the Company. 
 “Governmental Licenses” shall have the meaning assigned to such term in
Section 4.16(a) hereof. 
 “Indebtedness” shall have the meaning assigned to such term in
Section 4.11 hereof. 
 “Initial Prospectus Supplement” shall have the meaning assigned to such term in
Section 1.4 hereof. 
 “Integration Notice” shall have the meaning assigned to such term in
Section 5.6(ii) hereof. 
 “Intellectual Property” shall have the meaning assigned to such term in
Section 4.16(b) hereof. 
 “Investment Period” shall have the meaning assigned to such term in
Section 7.1 hereof. 
 “Investor” shall have the meaning assigned to such term in the Preamble.

 “Issuer Free Writing Prospectus” shall mean an “issuer free writing
prospectus,” as defined in Rule 433 promulgated under the Securities Act, relating to the Shares that (i) is required to be filed with the Commission by the Company or (ii) is exempt from filing pursuant to Rule 433(d)(5)(i) under the
Securities Act, 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’s records pursuant to Rule 433(g) under the Securities Act. 

“Knowledge” means the actual knowledge of the Company’s Chief Executive Officer or Chief Financial Officer, after
reasonable inquiry of all officers, directors and employees of the Company who could reasonably be expected to have knowledge or information with respect to the matter in question. 

“Market Capitalization” shall be calculated on the Trading Day immediately preceding the applicable Pricing Period and
shall be the product of (x) the number of shares of Common Stock outstanding on such Trading Day and (y) the closing bid price of the Common Stock on such Trading Day, both as determined by Bloomberg Financial LP using the DES and HP
functions. 
 “Material Adverse Effect” shall mean any condition, occurrence, state of facts or event having,
or insofar as reasonably can be foreseen would reasonably be expected to have, any effect on the business, operations, properties or condition (financial or otherwise) of the Company that is material and adverse to the Company and its Subsidiaries,
taken as a whole, and/or any condition, occurrence, state of facts or event that would prohibit or otherwise materially interfere with or delay the ability of the Company to perform any of its obligations under this Agreement; provided,
however, that none of the following, individually or in the aggregate, shall be taken into account in determining whether a Material Adverse Effect has occurred or insofar as reasonably can be foreseen would reasonably be expected to occur:
(i) changes in conditions in the U.S. or global capital, credit or financial markets generally, including changes in the availability of capital or currency exchange rates, provided such changes shall not have affected the Company in a
materially disproportionate manner as compared to other similarly situated companies; (ii) the effect of any changes arising in connection with acts of war (whether or not declared), terrorism, military actions or the escalation thereof or
other force majeure events occurring after the Effective Date, provided such changes shall not have affected the Company in a materially disproportionate manner as compared to other similarly situated companies; (iii) the effect of any changes
in applicable legal requirements or GAAP; (iv) changes generally affecting the pharmaceutical or medical device industries, provided such changes shall not have affected the Company in a materially disproportionate manner as compared to other
similarly situated companies; and (v) any effect of the announcement of this Agreement or the consummation of the transactions contemplated by this Agreement on the Company’s relationships, contractual or otherwise, with customers,
suppliers, vendors, bank or commercial lenders, lessors, collaboration partners, employees or consultants. 
 “Material
Agreements” shall have the meaning assigned to such term in Section 4.18 hereof. 
 “Money Laundering
Laws” shall have the meaning assigned to such term in Section 4.30 hereof. 

 “Multiplier” shall have the meaning assigned to such term in
Section 2.3 hereof. 
 “NASDAQ” means the NASDAQ Capital Market or any successor thereto. 

“OFAC” shall have the meaning assigned to such term in Section 4.31 hereof. 

“Optional Amount” means the transactions contemplated under Sections 2.9 through 2.11 of this Agreement. 

“Optional Amount Dollar Amount” shall mean the actual amount of proceeds received by the Company pursuant to the
exercise of an Optional Amount under this Agreement. 
 “Optional Amount Notice” shall mean a notice sent to
the Company with regard to the Investor’s election to exercise all or any portion of an Optional Amount, as provided in Section 2.11 hereof and substantially in the form attached hereto as Exhibit B. 

“Optional Amount Threshold Price” shall have the meaning assigned to such term in Section 2.1 hereof. 

“Other Financing” shall have the meaning assigned to such term in Section 5.6(ii) hereof. 

“Other Financing Notice” shall have the meaning assigned to such term in Section 5.6(ii) hereof. 

“Permitted Free Writing Prospectus” shall have the meaning assigned to such term in Section 5.8(ii) hereof.

 “Person” means any person or entity, whether a natural person, trustee, corporation, partnership, limited
partnership, limited liability company, trust, unincorporated organization, business association, firm, joint venture, governmental agency or authority. 
 “Plan” shall have the meaning assigned to such term in Section 4.24 hereof. 
 “Price Reset Provision” shall have the meaning assigned to such term in Section 5.6(ii) hereof. 
 “Pricing Period” shall mean a period of 10 consecutive Trading Days commencing on the first Trading Day of the Pricing Period set forth in the Fixed Request Notice, or such other period
mutually agreed upon by the Investor and the Company. 
 “Prospectus” shall mean the Base Prospectus, as
supplemented by any Prospectus Supplement, including the documents incorporated by reference therein, together with any Permitted Free Writing Prospectus. 
 “Prospectus Supplement” shall mean any prospectus supplement to the Base Prospectus (including the Initial Prospectus Supplement) filed with the Commission pursuant to Rule 424(b) under
the Securities Act, including the documents incorporated by reference therein. 
 “Reduction Notice” shall have
the meaning assigned to such term in Section 2.8 hereof. 

 “Reference Period” shall have the meaning assigned to such term in
Section 5.6(ii) hereof. 
 “Registration Period” shall have the meaning assigned to such term in
Section 5.11 hereof. 
 “Registration Statement” shall mean the registration statement on Form S 3,
Commission File Number 333-183675, filed by the Company with the Commission under the Securities Act for the registration of the Shares, as such Registration Statement may be amended and supplemented from time to time (including any related
abbreviated registration statement to register additional shares of Common Stock filed by the Company pursuant to Rule 462(b) under the Securities Act), including all documents filed as part thereof or incorporated by reference therein, and
including all information deemed to be a part thereof at the time of effectiveness pursuant to Rule 430B under the Securities Act, including any comparable successor registration statement filed by the Company with the Commission under the
Securities Act for the registration of shares of its Common Stock, including the Shares. 
 “Renewal Date”
shall have the meaning assigned to such term in Section 5.11. 
 “Restricted Period” shall have the
meaning assigned to such term in Section 5.10(i) hereof. 
 “Restricted Person” shall have the meaning
assigned to such term in Section 5.10(i) hereof. 
 “Restricted Persons” shall have the meaning assigned
to such term in Section 5.10(i) hereof. 
 “Securities Act” shall mean the Securities Act of 1933, as
amended, and the rules and regulations of the Commission thereunder. 
 “Settlement Date” shall have the
meaning assigned to such term in Section 2.7 hereof. 
 “Shares” shall mean shares of Common Stock
issuable to the Investor upon exercise of a Fixed Request and shares of Common Stock issuable to the Investor upon exercise of an Optional Amount. 
 “Short Sales” means “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act. 

“Significant Subsidiary” means any Subsidiary of the Company that would constitute a Significant Subsidiary of the
Company within the meaning of Rule 1-02 of Regulation S-X of the Commission. 
 “Similar Financing” shall have
the meaning assigned to such term in Section 5.6(ii) hereof. 

 “Single Fixed Request Limit” means, with respect to any single Fixed
Request Notice or Optional Amount, such number of shares of duly authorized, validly issued, fully paid and non-assessable shares of Common Stock which, when aggregated with all other shares of Common Stock issued or sold pursuant to any transaction
or series of transactions that may be aggregated with the transactions contemplated by such Fixed Request Notice and Optional Amount under applicable rules of NASDAQ or any other Trading Market on which the Common Stock may be listed or quoted, is
equal to one less than 20.0% of the issued and outstanding shares of Common Stock on the date immediately prior to the earliest of such issuance or sale (as adjusted for any stock splits, stock combinations, stock dividends, recapitalizations and
other similar transactions that occur on or after the date of this Agreement); provided, however, that the Single Fixed Request Limit shall not exceed under any circumstances that number of shares of Common Stock that the Company may
issue pursuant to such Fixed Request Notice and Optional Amount without (a) breaching the Company’s obligations under the rules and regulations of NASDAQ or any other Trading Market on which the Common Stock may be listed or quoted or
(b) obtaining stockholder approval under the applicable rules and regulations of NASDAQ or any other Trading Market on which the Common Stock may be listed or quoted. 
 “SOXA” shall have the meaning assigned to such term in Section 4.6(c) hereof. 
 “Subsidiary” shall mean any corporation or other entity of which at least a majority of the securities or other ownership interest having ordinary voting power (absolutely or
contingently) for the election of directors or other Persons performing similar functions are at the time owned directly or indirectly by the Company and/or any of its other Subsidiaries. 

“Threshold Price” is the lowest price (except to the extent otherwise provided in Section 2.6) at which the Company
may sell Shares during the applicable Pricing Period as set forth in a Fixed Request Notice (not taking into account the applicable percentage discount during such Pricing Period determined in accordance with Section 2.2); provided,
however, that at no time shall the Threshold Price be lower than $0.70 per share unless the Company and the Investor shall mutually agree. 
 “Total Commitment” shall have the meaning assigned to such term in Section 1.1 hereof. 
 “Trading Day” shall mean a full trading day (beginning at 9:30 a.m., New York City time, and ending at 4:00 p.m., New York City time) on NASDAQ. 

“Trading Market” means the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the New York Stock Exchange, the NYSE MKT, the NASDAQ Capital Market, the NASDAQ Global Market or the NASDAQ Global Select Market (or any successors to any of the foregoing), whichever is at the time the principal trading
exchange or market for the Common Stock. 
 “VWAP” shall mean the daily volume weighted average price (based on
a Trading Day from 9:30 a.m. to 4:00 p.m. (New York time)) of the Common Stock on NASDAQ as reported by Bloomberg Financial L.P. using the AQR function. 

 “Warrant Value” shall mean the fair value of all warrants, options and
other similar rights issued to a third party in connection with an Other Financing, determined by using a standard Black-Scholes option-pricing model using an expected volatility percentage as shall be mutually agreed by the Investor and the
Company. In the case of a dispute relating to such expected volatility assumption, the Investor shall obtain applicable volatility data from three investment banking firms of nationally recognized reputation, and the parties hereto shall use the
average thereof for purposes of determining the expected volatility percentage in connection with the Black-Scholes calculation referred to in the immediately preceding sentence. 

 EXHIBIT A TO THE 

COMMON STOCK PURCHASE AGREEMENT 
 FORM OF FIXED REQUEST NOTICE 
  

					
	To:	  	 	  	
	Fax#:	  	 	  	

 Reference is made to the Common Stock Purchase Agreement dated as of December 5, 2012, (the
“Purchase Agreement”) between Delcath Systems, Inc., a corporation organized and existing under the laws of the State of Delaware (the “Company”), and Terrapin Opportunity, L.P., a limited partnership organized
under the laws of the British Virgin Islands. Capitalized terms used and not otherwise defined herein shall have the meanings given such terms in the Purchase Agreement. 
 In accordance with and pursuant to Section 2.1 of the Purchase Agreement, the Company hereby issues this Fixed Request Notice to exercise a Fixed Request for the Fixed Amount Requested indicated
below. 
  

							
	 Fixed Amount Requested:
	 	 
		
	 Optional Amount Dollar Amount:
	 	 
		
	 Pricing Period start date:
	 	 
		
	 Pricing Period end date:
	 	 
		
	 Settlement Date:
	 	 
		
	 Fixed Request Threshold Price:
	 	 
		
	 Optional Amount Threshold Price:
	 	 
		
	 Dollar Amount of Common Stock Currently Unissued under the Registration Statement;
	 	 
		
	 Dollar Amount of Common Stock Currently Available under the Aggregate Limit:
	 	 
			
	 Dated:
                                         
       
	 	By:	 	 
		 	Name: Title:	 	
			
		 		 	 Address:

Facsimile No.

  

			
	AGREED AND ACCEPTED
		
	    By:	 	 
		 	Name:
		 	Title

 EXHIBIT B TO THE 

COMMON STOCK PURCHASE AGREEMENT 
 FORM OF OPTIONAL AMOUNT NOTICE 
  

					
	To:	  	 	  	
	Fax#:	  	 	  	

 Reference is made to the Common Stock Purchase Agreement dated as of December 5, 2012 (the
“Purchase Agreement”) between Delcath Systems, Inc., a corporation organized and existing under the laws of the State of Delaware (the “Company”), and Terrapin Opportunity, L.P., a limited partnership organized
under the laws of the British Virgin Islands (the “Investor”). Capitalized terms used and not otherwise defined herein shall have the meanings given such terms in the Purchase Agreement. 

In accordance with and pursuant to Section 2.11 of the Purchase Agreement, the Investor hereby issues this Optional Amount Notice to
exercise an Optional Amount for the Optional Amount Dollar Amount indicated below. 
  

							
	 Optional Amount Dollar Amount Exercised
	 	 	 	 
			
	 Number of Shares to be purchased
	 	 	 	 
			
	 VWAP on the date hereof:
	 	 	 	 
			
	 Discount Price:
	 	 	 	 
			
	 Settlement Date:
	 	 	 	 
			
	 Threshold Price:
	 	 	 	 
			
	 Dated:
                                         
       
	 	By:	 	 
		 	Name Title:	 	
		
		 	 Address:

Facsimile No.

 EXHIBIT C TO THE 

COMMON STOCK PURCHASE AGREEMENT 
 CERTIFICATE OF THE COMPANY 
 CLOSING CERTIFICATE 

                    ,
201     
 The undersigned, the [            ]
of Delcath Systems, Inc., a corporation organized and existing under the laws of the State of Delaware (the “Company”), delivers this certificate in connection with the Common Stock Purchase Agreement, dated as of December 5,
2012 (the “Agreement”), by and between the Company and Terrapin Opportunity, L.P., a limited partnership organized under the laws of the British Virgin Islands (the “Investor”), and hereby certifies on the date
hereof that (capitalized terms used herein without definition have the meanings assigned to them in the Agreement): 
 1.
Attached hereto as Exhibit A is a true, complete and correct copy of the Certificate of Incorporation of the Company as filed with the Secretary of State of the State of Delaware. The Certificate of Incorporation of the Company has not been
further amended or restated, and no document with respect to any amendment to the Certificate of Incorporation of the Company has been filed in the office of the Secretary of State of the State of Delaware since the date shown on the face of the
state certification relating to the Company’s Certificate of Incorporation, which is in full force and effect on the date hereof, and no action has been taken by the Company in contemplation of any such amendment or the dissolution, merger or
consolidation of the Company. 
 2. Attached hereto as Exhibit B is a true and complete copy of the Bylaws of the Company,
as amended and restated through, and as in full force and effect on, the date hereof, and no proposal for any amendment, repeal or other modification to the Bylaws of the Company has been taken or is currently pending before the Board of Directors
or stockholders of the Company. 
 3. The Board of Directors of the Company has approved the transactions contemplated by the
Agreement; said approval has not been amended, rescinded or modified and remains in full force and effect as of the date hereof. 

4. Each person who, as an officer of the Company, or as attorney-in-fact of an officer of the Company, signed (i) the Agreement and
(ii) any other document delivered prior hereto or on the date hereof in connection with the transactions contemplated by the Agreement, was duly elected, qualified and acting as such officer or duly appointed and acting as such
attorney-in-fact, and the signature of each such person appearing on any such document is his genuine signature. 
 IN
WITNESS WHEREOF, I have signed my name as of the date first above written. 
  

			
	 
		
	Print Name:	 	 
		
	Title:	 	 

 EXHIBIT D TO THE 

COMMON STOCK PURCHASE AGREEMENT 
 COMPLIANCE CERTIFICATE 
 In connection with the issuance of shares of
common stock of Delcath Systems, Inc., a corporation organized and existing under the laws of the State of Delaware (the “Company”), pursuant to the Fixed Request Notice, dated
[            ], delivered by the Company to Terrapin Opportunity, L.P. (the “Investor”) pursuant to Article II of the Common Stock Purchase Agreement, dated as of
December 5, 2012, by and between the Company and the Investor (the “Agreement”), the undersigned hereby certifies as follows: 
 1. The undersigned is the duly elected [            ] of the Company. 
 2. Except as set forth in the attached Disclosure Schedule or disclosed in a Commission Document, the representations and warranties of the Company set forth in Article IV of the Agreement (i) that
are not qualified by “materiality” or “Material Adverse Effect” are true and correct in all material respects as of [insert Fixed Request Exercise Date] and as of the date hereof with the same force and effect as if made on such
dates, except to the extent such representations and warranties are as of another date, in which case, such representations and warranties are true and correct in all material respects as of such other date and (ii) that are qualified by
“materiality” or “Material Adverse Effect” are true and correct as of [insert Fixed Request Exercise Date] and as of the date hereof with the same force and effect as if made on such dates, except to the extent such
representations and warranties are as of another date, in which case, such representations and warranties are true and correct as of such other date. 
 3. The Company has performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by the Agreement to be performed, satisfied or complied with by the
Company at or prior to [insert Fixed Request Exercise Date] and the date hereof. 
 4. As of [insert Fixed Request Exercise Date]
and the date hereof, (i) the Registration Statement did not and does not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not
misleading, (ii) the Prospectus did not and does not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading and (iii) no event has occurred as a result of which it is necessary to amend or supplement the Registration Statement or the Prospectus in order to make the statements therein not untrue
or misleading for clauses (i) and (ii) above, respectively, to be true and correct. 
 5. As of [insert Fixed Request
Exercise Date] and the date hereof, the Company did not and does not possess any material non-public information. 
 Capitalized
terms used but not otherwise defined herein shall have the meanings assigned to them in the Agreement. 
 The undersigned has
executed this Certificate this [            ] day of [            ], 20[    ]. 

 

			
	 
		
	Print Name:	 	 
		
	Title:	 	 

 DISCLOSURE SCHEDULE 

RELATING TO THE COMMON STOCK 
 PURCHASE AGREEMENT, DATED AS OF DECEMBER 5, 2012 
 BETWEEN DELCATH
SYSTEMS, INC. AND TERRAPIN OPPORTUNITY, L.P. 
 This disclosure schedule is made and given pursuant to Article IV of the
Common Stock Purchase Agreement, dated as of December 5, 2012 (the “Agreement”), by and between Delcath Systems, Inc., a Delaware corporation (the “Company”), and Terrapin Opportunity, L.P., a limited
partnership organized under the laws of the British Virgin Islands. Unless the context otherwise requires, all capitalized terms are used herein as defined in the Agreement. The numbers below correspond to the section numbers of representations and
warranties in the Agreement most directly modified by the below exceptions.

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