Delcath Systems, Inc.™ Board Takes 50 Percent Pay Cut As New York Medical Device Company Seeks Turnaround

Board members have taken a 50 percent pay cut as financial struggles continue at Delcath Systems Inc., a medical device maker in Queensbury, New York.

Last week, the company's board of directors amended their compensation policy. The company cut the board's annual equity grants by half, meaning directors would each receive $25,000 worth of the company's stock, down from $50,000 previously, according to Securities and Exchange Commission filings.

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