<SEC-DOCUMENT>0001144204-14-053742.txt : 20140902
<SEC-HEADER>0001144204-14-053742.hdr.sgml : 20140901
<ACCEPTANCE-DATETIME>20140902162138
ACCESSION NUMBER:		0001144204-14-053742
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20140829
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140902
DATE AS OF CHANGE:		20140902

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TSS, Inc.
		CENTRAL INDEX KEY:			0001320760
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
		IRS NUMBER:				202027651
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33627
		FILM NUMBER:		141077830

	BUSINESS ADDRESS:	
		STREET 1:		7226 LEE DEFOREST DRIVE,
		STREET 2:		SUITE 203
		CITY:			COLUMBIA
		STATE:			MD
		ZIP:			21046
		BUSINESS PHONE:		(410) 312-9988

	MAIL ADDRESS:	
		STREET 1:		7226 LEE DEFOREST DRIVE,
		STREET 2:		SUITE 203
		CITY:			COLUMBIA
		STATE:			MD
		ZIP:			21046

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Fortress International Group, Inc.
		DATE OF NAME CHANGE:	20130814

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TSS, Inc.
		DATE OF NAME CHANGE:	20130607

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Fortress International Group, Inc.
		DATE OF NAME CHANGE:	20070131
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v388245_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">FORM 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Pursuant to Section 13 or 15(d) of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>August 29, 2014</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Date of Report (Date of earliest event reported)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>TSS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><B>Delaware</B></TD>
    <TD STYLE="vertical-align: top; width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><B>001-33627</B></TD>
    <TD STYLE="vertical-align: bottom; width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><B>20-2027651</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other jurisdiction of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">incorporation)</P></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(I.R.S. Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 48%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: normal; text-align: center"><B>7226 Lee DeForest Drive, Suite 104</B></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: normal; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: normal; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Columbia, Maryland</B></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>21046</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>(410) 423-7438</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Registrant&rsquo;s telephone number, including area code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Not Applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name, former address, and former
fiscal year, if changed since last report.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px"><FONT STYLE="font-size: 10pt"><B>Item 5.02.</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On September 2, 2014,
TSS, Inc. (the &ldquo;Company&rdquo;) announced that its board of directors has appointed John K. Penver as Chief Financial Officer
of the Company effective August 29, 2014. A copy of the press release announcing the appointment of Mr. Penver is being furnished
with this Form 8-K as Exhibit 99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Penver, age 51,
has been acting as the Interim Chief Financial Officer of the Company since July 2, 2014. Mr. Penver was the Chief Financial Officer
of Fallbrook Technologies, Inc., a privately held manufacturer of mechanical transmission systems and technologies, from November
2012 until February 2014. From February 2005 until October 2012, Mr. Penver was the Vice President of Finance, Chief Financial
Officer and Company Secretary of Active Power, Inc., a manufacturer of uninterruptible power systems and modular infrastructure
solutions for data centers. Mr. Penver has also held a number of senior financial leadership positions including with Silicon Gaming,
Inc., Factory Logic, Inc. and Deloitte &amp; Touche LLP in the United States and Australia. Mr. Penver has an MBA from Santa Clara
University and a Bachelor of Business degree from Monash University (Australia), and is a Certified Public Accountant as well as
a Chartered Accountant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
his appointment as the Company&rsquo;s Chief Financial Officer, the Company entered into an employment agreement with Mr. Penver.
Under that employment agreement, Mr. Penver&rsquo;s annual base salary is $250,000, and he is eligible to receive a bonus in an
amount and on terms established by the Company&rsquo;s board of directors. Mr. Penver is also entitled to receive vacation, health
insurance and other benefits generally made available to the Company&rsquo;s other executives. If, after the first anniversary
of Mr. Penver&rsquo;s employment with the Company, the Company terminates Mr. Penver&rsquo;s employment other than for &ldquo;Cause&rdquo;
(as defined in the employment agreement) or Mr. Penver terminates his employment for a &ldquo;Good Reason&rdquo; (as defined in
the employment agreement), the Company will continue paying Mr. Penver his base salary commencing on the date of termination and
ending six months from the date of termination. If Mr. Penver&rsquo;s employment is terminated within twelve months following a
&ldquo;Change in Control&rdquo; of the Company (as defined in the employment agreement), the Company will continue paying Mr. Penver
his base salary commencing on the date of termination and ending twelve months from the date of termination. If a Change in Control
occurs within the first twelve months of employment and Mr. Penver&rsquo;s employment is terminated within twelve months of such
Change in Control, the Company will continue paying Mr. Penver his base salary commencing on the date of termination and ending
three months from the date of termination. A copy of Mr. Penver&rsquo;s employment agreement is filed as Exhibit 99.2 to this Form
8-K and incorporated by reference into this description.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Penver and the
Company also entered into an award agreement. In accordance with the terms of the award agreement, Mr. Penver received 250,000
restricted shares of the Company&rsquo;s common stock and a stock option to purchase 200,000 shares of the Company&rsquo;s common
stock on his commencement date. The restricted shares will vest in installments as follows: 50,000 shares will vest on September
29, 2014, 100,000 shares will vest on August 29, 2015 and 100,000 shares will vest on August 29, 2016. All unvested shares of restricted
stock will vest upon a change in control of the Company, and an amount up to 100,000 shares of restricted stock will vest in certain
instances upon the termination of Mr. Penver&rsquo;s employment. The exercise price per share for the stock options is equal to
the average of the high and low bid prices for the Company&rsquo;s common stock reported daily on the OTCQB marketplace during
the 20 trading days following the grant date. These stock options become exercisable in installments as follows: 100,000 shares
become exercisable when the fair market value of the Company&rsquo;s common stock is at least $2.00 for 20 consecutive business
days, and 100,000 shares become exercisable when the fair market value of the Company&rsquo;s common stock is at least $3.00 for
20 consecutive business days. All of the Company&rsquo;s independent directors approved these equity grants, which were not made
under any compensation plan approved by the Company&rsquo;s stockholders. A copy of Mr. Penver&rsquo;s award agreement is filed
as Exhibit 99.3 to this Form 8-K and incorporated by reference into this description.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Item 9.01.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Financial Statements and Exhibits<FONT STYLE="font-family: Times New Roman, Times, Serif">.</FONT></B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 30pt">99.1</TD><TD>Press Release, dated September 2, 2014, announcing appointment of John K. Penver as Chief Financial Officer.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 30pt">99.2</TD><TD>Employment Agreement, dated August 29, 2014, between TSS, Inc. and John K. Penver.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 30pt">99.3</TD><TD>Award Agreement, dated August 29, 2014, between TSS, Inc. and John K. Penver.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">S I G N A T U R E S</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.2pt">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.2pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-right: -5.75pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 4pt; padding-right: -5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">TSS, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 41%; padding-top: 4pt; padding-right: -5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-top: 4pt; padding-right: -5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 54%; padding-top: 4pt; padding-right: -5.75pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-right: -5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-right: -5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-right: -5.75pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-right: -5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-right: -5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 4pt; padding-right: -5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I>/s/ Anthony Angelini</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Anthony Angelini</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">President and Chief Executive Officer</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date: September 2, 2014</P>



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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v388245_ex99-1.htm
<DESCRIPTION>PRESS RELEASE
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Company Contact: </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TSS, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Anthony Angelini, Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Phone: (410) 423-7300</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TSS, Inc. Appoints John K. Penver as
Chief Financial Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>COLUMBIA, MD &ndash; September 2, 2014
&ndash; TSS, Inc. (Other OTC: TSSI)</B>,<B><I> </I></B>a mission critical data center and technology services company, announced
today that it has appointed John K. Penver as Chief Financial Officer effective August 29, 2014. Mr. Penver will lead all finance,
accounting, HR, IT and administrative functions for TSS. Mr. Penver will report directly to Anthony Angelini, President and Chief
Executive Officer of TSS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Penver, age 51, has been acting
as the Interim Chief Financial Officer of TSS since July 2, 2014. Mr. Penver was the Chief Financial Officer of Fallbrook
Technologies, Inc., a privately held manufacturer of mechanical transmission systems and technologies, from November 2012
until February 2014. From February 2005 until October 2012, Mr. Penver was the Vice President of Finance, Chief Financial
Officer and Company Secretary of Active Power, Inc. (NASDAQ:ACPW), a manufacturer of uninterruptible power systems and modular
infrastructure solutions for data centers. Mr. Penver has also held a number of senior financial leadership positions,
including with Silicon Gaming, Inc. (NASDAQ: SGIC), Factory Logic, Inc. and Deloitte &amp; Touche LLP in the United States and
Australia.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;I am excited to have John join our
team and lead our finance and administrative efforts. He brings public company management expertise and extensive experience in
the mission-critical data center and infrastructure systems industry, along with merger/acquisition and international business
experience. He will complement our management team and help strengthen TSS&rsquo;s position as a trusted single source provider
to the mission critical data center industry,&rdquo; said Mr. Angelini.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;TSS is well positioned to capitalize
on the rapidly expanding data center infrastructure services industry with a broad and deep product and services offering. I look
forward to working with its strong management team to further execute and grow the business,&rdquo; said Mr. Penver.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with his appointment, Mr.
Penver received 250,000 restricted shares of TSS common stock and a stock option to purchase 200,000 shares of TSS common stock.
The restricted shares will vest in installments as follows: 50,000 shares will vest on September 29, 2014, 100,000 shares will
vest on August 29, 2015, and 100,000 shares will vest on August 29, 2016. All unvested shares of restricted stock will vest upon
a change in control of TSS, and an amount up to 100,000 shares of restricted stock will vest in certain instances upon the termination
of Mr. Penver&rsquo;s employment. The exercise price per share for the stock options is equal to the average of the high and low
bid prices for TSS common stock reported daily on the OTCQB marketplace during the 20 trading days following the grant date. These
stock options become exercisable in installments as follows: 100,000 shares become exercisable when the fair market value of TSS
common stock is at least $2.00 for 20 consecutive business days, and 100,000 shares become exercisable when the fair market value
of TSS common stock is at least $3.00 for 20 consecutive business days. All of the independent directors of TSS approved these
equity grants, which were not made under any compensation plan approved by the stockholders of TSS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #003C4B">Total Site Solutions &#448;
7226 Lee DeForest Dr. Ste 104 Columbia MD 21046 | T 410.423.7300 | TotalSiteSolutions.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About TSS, Inc. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TSS is a trusted single source provider of mission-critical
planning, design, system integration, deployment, maintenance and evolution of data center facilities and information infrastructure.
TSS specializes in customizable end to end solutions powered by industry experts and innovative services that include technology
consulting, engineering, design, construction, operations, facilities management, technology system installation and integration,
as well as maintenance for traditional and modular data centers. TSS is headquartered in Columbia, Md. For more information contact
us at <U>www.totalsitesolutions.com</U> or call 888-321-4877.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Forward Looking Statements </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This press release may contain &ldquo;forward-looking statements&rdquo;
-- that is, statements related to future -- not past -- events, plans, and prospects. In this context, forward-looking statements
may address matters such as our expected future business and financial performance, and often contain words such as &ldquo;guidance,&rdquo;
&ldquo;expects,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;intends,&rdquo; &ldquo;plans,&rdquo; &ldquo;believes,&rdquo; &ldquo;seeks,&rdquo;
&ldquo;should,&rdquo; or &ldquo;will.&rdquo; Forward-looking statements by their nature address matters that are, to different
degrees, uncertain. Particular uncertainties that could adversely or positively affect the Company&rsquo;s future results include:
the Company&rsquo;s reliance on a significant portion of its revenues from a limited number of customers; risks relating to operating
in a highly competitive industry; risks relating to rapid technological, structural, and competitive changes affecting the industries
the Company serves; risks involved in properly managing complex projects; risks relating the possible cancellation of customer
contracts on short notice; risks relating our ability to continue to implement our strategy, including having sufficient financial
resources to carry out that strategy; risks relating to our ability to meet all of the terms and conditions of our debt obligations
or maintain sufficient availability under our revolving credit facility; risks relating to the acquisition or disposal of business
; uncertainty related to current economic conditions and the related impact on demand for our services; and other risks and uncertainties
disclosed in the Company&rsquo;s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K
for the fiscal year ended December 31, 2013. These uncertainties may cause the Company&rsquo;s actual future results to be materially
different than those expressed in the Company's forward-looking statements. The Company does not undertake to update its forward-looking
statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #003C4B">Total Site Solutions &#448;
7226 Lee DeForest Dr. Ste 104 Columbia MD 21046 | T 410.423.7300 | TotalSiteSolutions.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #003C4B">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #003C4B"></P>

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>v388245_ex99-2.htm
<DESCRIPTION>EMPLOYMENT AGREEMENT
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-align: center; text-indent: -0.55in"><B>EXECUTIVE
EMPLOYMENT AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in">This EXECUTIVE EMPLOYMENT
AGREEMENT (this &ldquo;<U>Agreement</U>&rdquo;), effective as of the 29th day of August 2014 (&ldquo;<U>Effective Date</U>&rdquo;),
is made and entered into between TSS, INC., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), and JOHN K. PENVER (the
&ldquo;<U>Executive</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in">NOW, THEREFORE, in
exchange for the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the Company and the Executive, each intending to be legally bound, hereby mutually covenant and
agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 10%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 5%; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>1.</B></FONT></TD>
    <TD STYLE="width: 85%; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>DEFINITIONS</B></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in">The following words
and terms shall have the meanings set forth below for the purposes of this Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>1.1.</B> <B>Affiliates</B>.
&ldquo;<U>Affiliates</U>&rdquo; of a Person, or a Person &ldquo;<U>affiliated</U>&rdquo; with another Person, are any Persons which,
directly or indirectly, through one or more intermediaries, controls or are controlled by or are under common control with, the
Person specified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>1.2.</B> <B>Board</B>.
&ldquo;<U>Board</U>&rdquo; means the Company&rsquo;s Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>1.3.</B> <B>Cause</B>.
The following constitutes &ldquo;<U>Cause</U>&rdquo; giving rise to the Company&rsquo;s right to terminate the Executive&rsquo;s
employment under <U>Section 5.1</U> of this Agreement: (a) the Executive&rsquo;s willful failure to perform, or gross negligence
in the performance of, his duties and responsibilities to the Company and its Affiliates; (b) any act that would constitute a material
violation of the Company&rsquo;s material written policies; (c) intentionally engaging in conduct materially and demonstrably injurious
to the Company; (d) conviction of (1) a crime of embezzlement or a crime involving moral turpitude; (2) a crime with respect to
the Company involving a breach of trust or dishonesty; or (3) in either case, a plea of guilty or no contest to such a crime; or
(e) the Executive&rsquo;s violation of his obligations under the Assignment Agreement (as defined in <U>Section 6</U> of this Agreement)
or under <U>Sections 2.4 or 7</U> of this Agreement or by his breach of a fiduciary duty owed the Company or any of its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>1.4.</B> <B>Change
in Control of the Company</B>. &ldquo;<U>Change in Control of the Company</U>&rdquo; means (a) a sale, transfer or exclusive licensing
by the Company of all or substantially all of the assets of the Company and its Subsidiaries on a consolidated basis (measured
by either book value in accordance with United States generally accepted accounting principles consistently applied or fair market
value determined in the reasonable good faith judgment of the Board) in any transaction or series of related transactions (other
than sales in the ordinary course of business); (b) any sale, transfer or issuance or series of sales, transfers and/or issuances
of shares of the Company&rsquo;s capital stock by the Company or any holders thereof that results in any Person or Persons acting
as a &ldquo;group&rdquo; (as such term is used under Section 13(d)(3) of the Securities Exchange Act of 1934), other than the holders
of Company&rsquo;s capital stock as of the date hereof, owning directly or indirectly capital stock of the Company possessing more
than 50% of the combined voting power (under ordinary circumstances) in the election of the Board; (c) the stockholders of the
Company approve a merger or consolidation of the Company with any other corporation, other than a merger or consolidation that
would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity) at least 50% of the total voting power represented
by the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; or
(d) the stockholders of the Corporation approve a plan of complete liquidation of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>1.5. Date of Termination</B>.
&ldquo;<U>Date of Termination</U>&rdquo; means (a) if the Executive&rsquo;s employment is terminated by reason of the Executive&rsquo;s
death, the date of the Executive&rsquo;s death, or (b) if the Executive&rsquo;s employment with the Company is terminated for any
reason other than the Executive&rsquo;s death, the date on which Executive ceases to be an employee of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>1.6.</B> <B>Disability</B>.
Termination of the Executive&rsquo;s employment with the Company based on &ldquo;<U>Disability</U>&rdquo; means termination of
the Executive&rsquo;s employment at the Company&rsquo;s sole discretion, upon thirty (30) days prior written notice in the event
the Executive becomes &ldquo;<U>Disabled</U>,&rdquo; as defined in any group term disability insurance maintained by the Company
applicable to the Executive, or, (b) if the Company shall not maintain such insurance, the determination by an independent physician
acting reasonably and in good faith that the Executive is incapacitated by reason of a physical or mental illness that is long-term
in nature and that prevents the Executive from performing the substantial and material duties of his employment with the Company,
<U>provided</U> that such incapacity can reasonably be expected to prevent the Executive from working at least six (6) months in
any twelve (12) month period. The Company may require the Executive to have the examination described in the preceding sentence
at any time for the purpose of determining whether the Executive has a long-term disability, and the Executive agrees to submit
to such examination upon request of the Board; <U>provided</U> that the Company shall pay all costs and expenses associated with
such examination. This <U>Section 1.6</U> shall be interpreted and applied consistently with the Americans with Disabilities Act,
the Family and Medical Leave Act and other applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>1.7.</B> <B>Good
Reason</B>. Termination of the Executive&rsquo;s employment by the Executive for a &ldquo;<U>Good Reason</U>&rdquo; shall mean
termination by the Executive because of: (a) failure of the Company to pay any installment of the Executive&rsquo;s Base Salary
when such installment is due pursuant to this Agreement, which failure is not cured within fifteen (15) days; (b) any other breach
or breaches of this Agreement by the Company, which breaches are, singularly or in the aggregate, material, and which are not cured
within thirty (30) days of written notice of such breach or breaches to the Company by the Executive; or (c) a reduction by the
Company of the Executive&rsquo;s Base Salary without the express written consent of the Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>1.8.</B> <B>Person</B>.
&ldquo;<U>Person</U>&rdquo; means an individual, a partnership, a corporation, a limited liability company, an association, a joint
stock company, a trust, a joint venture, an unincorporated organization, any other business entity and a governmental entity or
any department, agency or political subdivision thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>1.9.</B> <B>Restrictive
Period</B>. &ldquo;<U>Restrictive Period</U>&rdquo; means the twelve (12) month period measured from the Termination Date through
the date that is twelve (12) months following the Date of Termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>1.10. Subsidiary</B>.
&ldquo;<U>Subsidiary&rdquo;</U> means, with respect to any Person, any corporation, limited liability company, partnership, association
or other business entity of which (a) if a corporation, a majority of the total voting power of shares of stock entitled (without
regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time
owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination
thereof, or (b) if a limited liability company, partnership, association or other business entity, a majority of the partnership
or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by that Person or one or
more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority
ownership interest in a limited liability company, partnership, association or other business entity if such Person or Persons
shall be allocated a majority of limited liability company, partnership, association or other business entity gains or losses or
shall be or control any managing director or general partner of such limited liability company, partnership, association or other
business entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-size: 10pt"><B>2.</B></FONT></TD>
    <TD STYLE="width: 85%; text-align: justify"><FONT STYLE="font-size: 10pt"><B>EMPLOYMENT</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>2.1.</B> <B>Employment
Period</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.65in"><B>2.1.1</B> The Company
hereby employs the Executive, and the Executive hereby accepts said employment and agrees to render services to the Company, on
the terms and conditions set forth in this Agreement for the period commencing on the Effective Date and ending on December 31,
2014 (the &ldquo;<U>Expiration Date</U> &rdquo;), unless sooner terminated in accordance with the provisions herein (such period
is the &ldquo;<U>Employment Period</U>&rdquo;); provided, however, that if this Agreement is renewed pursuant to <U>Section 2.1.2</U>
of this Agreement, then the &ldquo;Expiration Date&rdquo; for the then current &ldquo;Renewal Term&rdquo; (as hereinafter defined)
shall be the date that is last day of the one year period of any Renewal Term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.65in"><B>2.1.2</B> This
Agreement shall be automatically renewed for an additional one year period commencing at the expiration of the initial Employment
Period or any subsequent renewal term (each, a &ldquo;<U>Renewal Term</U>&rdquo;) unless the Company provides written notice of
termination to the Executive not less than thirty (30) days prior to the Expiration Date. Notwithstanding the foregoing or anything
else in this Agreement to the contrary, the Employment Period shall immediately terminate prior to any Expiration Date (i) upon
Executive&rsquo;s death, Disability or termination for a Good Reason or (ii) upon termination by the Company for Cause. In all
other circumstances, thirty (30) days&rsquo; prior written notice is required by either party to the other to terminate this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>2.2.</B> <B>Duties</B>.
During the Employment Period, the Executive shall have the title Chief Financial Officer and shall report to the Company&rsquo;s
Chief Executive Officer. The Executive shall perform such services for the Company as is consistent with the Executive&rsquo;s
position (subject to the power and authority of the Board to expand or limit such services and to overrule actions of officers
of the Company) and as lawfully directed, from time to time, by the Company&rsquo;s Chief Executive Officer or the Board. The Executive
shall devote the Executive&rsquo;s full working time and attention and use the Executive&rsquo;s best efforts and skill to the
performance of the Executive&rsquo;s duties under this Agreement. The Executive shall not, during the Employment Period, provide
services to any business activity for gain, profit or other pecuniary advantage other than the services provided under this Agreement.
Notwithstanding the foregoing, the Executive may (a) volunteer services for or on behalf of such religious, educational, non-profit
and/or other charitable organization as the Executive may wish to serve, (b) manage his personal, financial and legal affairs,
or (c) with the consent of the Board, which shall not be unreasonably withheld, serve on up to two (2) boards of directors of other
entities, so long as the activities described in the foregoing clauses (a) through (c) do not interfere with the performance of
his duties and responsibilities to the Company as provided hereunder or violate any of the terms of this or any other agreement
entered into with the Company. The Executive acknowledges that the Executive may be required to travel on business in connection
with the Executive&rsquo;s performance of the Executive&rsquo;s duties hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>2.3.</B> <B>Insurance</B>.
The Company may, at its discretion, apply for and procure in its own name and for its own benefit life and/or disability insurance
on the Executive in any amount or amounts considered available. The Executive agrees to cooperate in any medical or other examination,
supply any information and execute and deliver any applications or other instruments in writing as may be reasonably necessary
to obtain and constitute such insurance. The Executive hereby represents that the Executive has no reason to believe that the Executive&rsquo;s
life is not insurable at rates now prevailing for a healthy person of the Executive's gender and age.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>2.4.</B> <B>Corporate
Opportunity</B>. The Executive agrees that, unless approved by the Board, he will not take personal advantage of any business opportunities
that arise during her employment with the Company and that may be of benefit to the Company. All material facts regarding such
opportunities must be promptly reported to the Board for consideration by the Company in accordance with the Company&rsquo;s policies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-size: 10pt"><B>3.</B></FONT></TD>
    <TD STYLE="width: 85%; text-align: justify"><FONT STYLE="font-size: 10pt"><B>COMPENSATION AND BENEFITS</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>3.1.</B> <B>Base
Salary</B>. During the Employment Period, the Company shall pay the Executive an initial base salary of Two Hundred and Fifty Thousand
Dollars ($250,000.00) per year (&ldquo;<U>Base Salary</U>&rdquo;) paid in approximately equal installments bi-weekly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>3.2.</B> <B>Annual
Bonus</B>. For each calendar year that begins during the Employment Period (each such calendar year, a &ldquo;<U>Bonus Year</U>&rdquo;),
the Executive shall be eligible to receive a bonus in an amount and on such terms as are established by the Board in its sole discretion.
Any bonus for an applicable calendar year, or portion thereof, shall be paid to the Executive no later than March 15 of the calendar
year following the Bonus Year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>3.3.</B> <B>Vacation
and Benefits</B>. The Executive shall receive vacation, health insurance and other employee benefits as the Company makes available
to other executives, as may exist at any particular time and from time to time during the Executive&rsquo;s employment. All matters
of eligibility for coverage or benefits under any health, hospitalization, life, disability, or other insurance plan, program or
policy shall be determined in accordance with the provisions of the plan, program, or policy; and the Company shall not be liable
to the Executive, the Executive&rsquo;s family, heirs, executors, or beneficiaries for any payment payable or claimed to be payable
under any such benefit plan, program, or policy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>3.4.</B> <B>Withholding</B>.
All payments required to be made by the Company hereunder to the Executive shall be subject to the withholding of such amounts,
if any, relating to tax and other payroll deductions as the Company may reasonably determine should be withheld pursuant to any
applicable law or regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>3.5.</B> <B>Policies,
Procedures &amp; Benefit Plans</B>. Except as otherwise provided herein, the Executive&rsquo;s employment shall be subject to the
policies and procedures that apply generally to the Company&rsquo;s employees as the same may be interpreted, adopted, revised
or deleted from time to time, during the Employment Period, by the Board in its sole discretion. The Executive agrees to comply
with such policies and procedures in all material respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>3.7.</B> <B>Equity.</B>
On the Effective Date, the Executive shall receive options to purchase 200,000 shares of the Company&rsquo;s common stock and 250,000
shares of restricted stock upon the terms and conditions set forth in that certain Award Agreement, dated as of the Effective Date,
between the Company and the Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-size: 10pt"><B>4.</B></FONT></TD>
    <TD STYLE="width: 85%; text-align: justify"><FONT STYLE="font-size: 10pt"><B>EXPENSES</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>4.1.</B> <B>Expenses</B>.
During the Employment Period, including following any Date of Termination for appropriate expenses incurred on or prior to the
Date of Termination, the Company shall reimburse the Executive promptly or otherwise provide for or pay for all pre-approved reasonable
expenses incurred by the Executive in furtherance of, or in connection with, the business of the Company or its Subsidiaries, consistent
with the Company&rsquo;s policies in effect from time to time with respect to travel, entertainment and other business expenses,
subject to such reasonable documentation and other limitations as may be established from time to time by the Board, including
against presentation of vouchers or receipts therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-size: 10pt"><B>5.</B></FONT></TD>
    <TD STYLE="width: 85%; text-align: justify"><FONT STYLE="font-size: 10pt"><B>TERMINATION</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>5.1.</B> <B>Termination
Due to Death or Disability, By the Company For Cause or By the Executive</B>. If the Employment Period is terminated (a) by reason
of the Executive&rsquo;s Death or Disability; (b) by the Company for Cause; (c) by the Executive (other than for a Good Reason);
or (d) (subject to Section 5.3 with respect to a termination following a Change in Control of the Company) by the Company or the
Executive before the first anniversary of the Effective Date; <U>then</U> the Executive shall only be entitled to receive the Executive&rsquo;s
Base Salary and the reimbursement of any applicable expenses pursuant to <U>Section 4</U> of this Agreement through the Date of
Termination, and the Executive shall have no right to any other compensation thereafter (including without limitation pursuant
to <U>Section 3.1</U> and <U>Section 3.2</U> of this Agreement, but not including <U>Section 5.4</U> of this Agreement). No Person
shall be entitled hereunder to participate in any employee benefit plan after the Date of Termination if the Employment Period
is terminated in connection with this <U>Section 5.1</U>, except as otherwise expressly required by applicable law (i.e., COBRA)
and <U>provided</U> that nothing herein shall be interpreted to limit the Executive&rsquo;s conversion rights, if any, under any
of the Company&rsquo;s employee benefit plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>5.2.</B> <B>Termination
By the Company Other Than for Cause or By the Executive for a Good Reason</B>. In addition to the payment to the Executive of the
Executive&rsquo;s Base Salary and the reimbursement of any applicable expenses pursuant to <U>Section 4</U> of this Agreement through
the Date of Termination, if (a) after the first anniversary of the Effective Date the Employment Period is terminated (i) by the
Company other than for Cause, (ii) by the Executive for a Good Reason, or (iii) by the Company in accordance with <U>Section 2.1.2</U>
of this Agreement by providing the requisite notice to the Executive to terminate this Agreement prior to any Expiration Date;
and (b) the Executive executes a general release in substantially the form attached hereto as <B><U>Exhibit A</U></B> (the &ldquo;<U>Release</U>&rdquo;)
on or before the Date of Termination; and (c) the Executive has not breached the terms of the &ldquo;Assignment Agreement&rdquo;
(as defined below); <U>then</U> the Company shall continue paying the Executive salary payments based on the Base Salary (at the
rate in effect at the Date of Termination) for a period commencing on the Date of Termination and ending six (6) months from the
Date of Termination. Any payment under this <U>Section 5.2</U> shall be made in accordance with the Company&rsquo;s normal payroll
schedule at the time the payments are made. The Executive shall be entitled to receive the benefits under any plan or program adopted
or sponsored by the Company or its Subsidiaries (to the extent the Executive participates and is vested in such benefits) in accordance
with the terms of such plan or program. If the Executive elects and remains eligible for health coverage pursuant to Section 4980B
of the Internal Revenue Code of 1986, as amended (&ldquo;<U>COBRA</U>&rdquo;) (and subject to withholding pursuant to <U>Section
3.5</U> of this Agreement) and the Date of Termination occurs after the first anniversary of the Effective Date, <U>then</U> commencing
within fifteen (15) business days following the date on which the Release becomes effective pursuant to its terms, the Company
will, for a period commencing on the Date of Termination and ending six (6) months from the Date of Termination, pay a percentage
of the premium for such COBRA health coverage equal to the percentage of the premium for health insurance coverage paid by the
Company on the Date of Termination. The Executive shall not be entitled to any other salary or compensation after termination of
the Employment Period under this <U>Section 5.2</U> (other than as set forth in this <U>Section 5.2</U> and <U>Section 5.4</U>
of this Agreement). No Person shall be entitled hereunder to participate in any employee benefit plan after the Date of Termination
if the Employment Period is terminated in connection with this <U>Section 5.2</U>, except as otherwise specifically provided hereunder
or as required by applicable law (i.e., COBRA) and <U>provided</U> that nothing herein shall be interpreted to limit the Executive&rsquo;s
conversion rights, if any, under any of the Company&rsquo;s employee benefit plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>5.3.</B> <B>Termination
following a Change in Control of the Company.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.65in"><B>5.3.1</B> In addition
to the payment to the Executive of the Executive&rsquo;s Base Salary and the reimbursement of any applicable expenses pursuant
to <U>Section 4</U> of this Agreement through the Date of Termination, if (a) the Employment Period is terminated within twelve
(12) months following a Change in Control of the Company that occurs before the first anniversary of the Effective Date; and (b)
the Executive executes the Release on or before the Date of Termination; and (c) the Executive has not breached the terms of the
&ldquo;Assignment Agreement&rdquo; (as defined below); <U>then</U> the Company shall continue paying the Executive salary payments
based on the Base Salary (at the rate in effect at the Date of Termination) for a period commencing on the Date of Termination
and ending three (3) months from the Date of Termination. Any payment under this <U>Section 5.3.1</U> shall be made in accordance
with the Company&rsquo;s normal payroll schedule at the time the payments are made. The Executive shall be entitled to receive
the benefits under any plan or program adopted or sponsored by the Company or its Subsidiaries (to the extent the Executive participates
and is vested in such benefits) in accordance with the terms of such plan or program. If the Executive elects and remains eligible
for health coverage pursuant to COBRA (and subject to withholding pursuant to <U>Section 3.5</U> of this Agreement), <U>then</U>
commencing within fifteen (15) business days following the date on which the Release becomes effective pursuant to its terms, the
Company will, for a period commencing on the Date of Termination and ending three (3) months from the Date of Termination, pay
a percentage of the premium for such COBRA health coverage equal to the percentage of the premium for health insurance coverage
paid by the Company on the Date of Termination. The Executive shall not be entitled to any other salary or compensation after termination
of the Employment Period under this <U>Section 5.3.1</U> (other than as set forth in this <U>Section 5.3</U> and <U>Section 5.4</U>
of this Agreement). No Person shall be entitled hereunder to participate in any employee benefit plan after the Date of Termination
if the Employment Period is terminated in connection with this <U>Section 5.3.1</U>, except as otherwise specifically provided
hereunder or as required by applicable law (i.e., COBRA) and <U>provided</U> that nothing herein shall be interpreted to limit
the Executive&rsquo;s conversion rights, if any, under any of the Company&rsquo;s employee benefit plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.65in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.65in"><B>5.3.2</B> In addition
to the payment to the Executive of the Executive&rsquo;s Base Salary and the reimbursement of any applicable expenses pursuant
to <U>Section 4</U> of this Agreement through the Date of Termination, if (a) the Employment Period is terminated within twelve
(12) months following a Change in Control of the Company that occurs on or after the first anniversary of the Effective Date; and
(b) the Executive executes the Release on or before the Date of Termination; and (c) the Executive has not breached the terms of
the &ldquo;Assignment Agreement&rdquo; (as defined below); <U>then</U> the Company shall continue paying the Executive salary payments
based on the Base Salary (at the rate in effect at the Date of Termination) for a period commencing on the Date of Termination
and ending twelve (12) months from the Date of Termination. Any payment under this <U>Section 5.3.2</U> shall be made in accordance
with the Company&rsquo;s normal payroll schedule at the time the payments are made. The Executive shall be entitled to receive
the benefits under any plan or program adopted or sponsored by the Company or its Subsidiaries (to the extent the Executive participates
and is vested in such benefits) in accordance with the terms of such plan or program. If the Executive elects and remains eligible
for health coverage pursuant to COBRA (and subject to withholding pursuant to <U>Section 3.5</U> of this Agreement), <U>then</U>
commencing within fifteen (15) business days following the date on which the Release becomes effective pursuant to its terms, the
Company will, for a period commencing on the Date of Termination and ending twelve (12) months from the Date of Termination, pay
a percentage of the premium for such COBRA health coverage equal to the percentage of the premium for health insurance coverage
paid by the Company on the Date of Termination. The Executive shall not be entitled to any other salary or compensation after termination
of the Employment Period under this <U>Section 5.3.2</U> (other than as set forth in this <U>Section 5.3.2</U> and <U>Section 5.4</U>
of this Agreement). No Person shall be entitled hereunder to participate in any employee benefit plan after the Date of Termination
if the Employment Period is terminated in connection with this <U>Section 5.3.2</U>, except as otherwise specifically provided
hereunder or as required by applicable law (i.e., COBRA) and <U>provided</U> that nothing herein shall be interpreted to limit
the Executive&rsquo;s conversion rights, if any, under any of the Company&rsquo;s employee benefit plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.65in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.65in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.65in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>5.4. Cooperation
with Company after Termination of Employment</B>. For a period of six (6) months following termination of the Employment Period
for any reason, as such period may be extended with the consent of the Executive, the Executive shall fully cooperate with the
Company in all matters relating to the winding up of pending work on behalf of the Company including, but not limited to, any litigation
in which the Company is involved, and the orderly transfer of any such pending work to other executives of the Company as may be
designated by the Company. The Executive shall be compensated for any time spent pursuant to this <U>Section 5.4</U> at the specific
request of the Company at a <U>per</U> <U>diem</U> amount based upon the Executive&rsquo;s Base Salary at the Date of Termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>5.5.</B> <B>Termination
by Mutual Consent</B>. Notwithstanding any of the foregoing provisions of this <U>Section 5</U>, if at any time during the course
of this Agreement the parties by mutual consent decide to terminate the Employment Period, they shall do so by separate agreement
setting forth the terms and conditions of such termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>5.6.</B> <B>Section
409A</B>. Notwithstanding any other provision with respect to the timing of payments under <U>Section 5.2</U> of this Agreement,
if, at the time of the Executive&rsquo;s termination, the Executive is deemed to be a &ldquo;specified employee&rdquo; (within
the meaning of Section 409A(a)(2)(B)(i) of the Internal Revenue Code (the &ldquo;<U>Code</U>&rdquo;), and any successor statute,
regulation and guidance thereto) of the Company, then only to the extent necessary to comply with the requirements of Section 409A
of the Code, any payments to which the Executive may become entitled under <U>Section 5.2</U> of this Agreement that are subject
to Section 409A of the Code (and not otherwise exempt from its application) will be withheld until the first business day of the
seventh month following the Date of Termination, at which time the Executive shall be paid an aggregate amount equal to six months
of payments otherwise due to the Executive under the terms of <U>Section 5.2</U> of this Agreement, as applicable. After the first
business day of the seventh month following the date of termination and continuing each month thereafter, the Executive shall be
paid the regular payments otherwise due to the Executive in accordance with the terms of <U>Section 5.2</U> of this Agreement<I>,</I>
as thereafter applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt"><B>6.</B></FONT></TD>
    <TD STYLE="width: 85%"><FONT STYLE="font-size: 10pt"><B>INVENTION, ASSIGNMENT AND CONFIDENTIALITY AGREEMENT</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>6.1.</B> <B>Assignment
Agreement</B>. The parties hereto have entered into an Invention Assignment and Confidentiality Agreement attached hereto as <B><U>Exhibit
B</U></B> (the &ldquo;<U>Assignment Agreement</U>&rdquo;), which may be amended by the parties from time to time pursuant to the
terms thereof. The provisions of the Assignment Agreement are intended by the parties to survive, and shall survive, the termination
or expiration of the Employment Period and this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt"><B>7.</B></FONT></TD>
    <TD STYLE="width: 85%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NON-SOLICITATION OF CUSTOMERS OR EMPLOYEES;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NON-COMPETITION</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>7.1.</B> <B>Covenant
Not-to-Solicit Customers.</B> During the Employment Period and the Restrictive Period, the Executive shall not directly or indirectly,
individually or on behalf of any Person, whether as principal, agent, stockholder, employee, consultant, representative or in any
other capacity, that engages in a Competitive Activity (as defined below) in any geographic area in which the Company actively
markets or in which the Executive knows the Company intends to actively market, solicit any Person that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.9pt; text-align: justify; text-indent: 1.65in"><B>(a)</B>
is a customer or client of the Company or any of its Subsidiaries that the Executive had dealings with by virtue of the Executive&rsquo;s
employment with the Company as of the Date of Termination;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.9pt; text-align: justify; text-indent: 1.65in"><B>(b)</B>
has been a customer or client of the Company or any of its Subsidiaries that the Executive had dealings with by virtue of the Executive&rsquo;s
employment with the Company at any time within two (2) years prior to the Date of Termination; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.9pt; text-align: justify; text-indent: 1.65in"><B>(c)</B>
is a prospective customer or client that the Executive had been actively soliciting with, or on behalf of, the Company or any of
its Subsidiaries as of the Date of Termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>7.2.</B> <B>Covenant
Not-to-Solicit Employees.</B> During the Employment Period and the Restrictive Period, the Executive shall not directly or indirectly,
individually or on behalf of any other Person, whether as principal, agent, stockholder, employee, consultant, representative or
in any other capacity:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.9pt; text-align: justify; text-indent: 1.65in"><B>(a) </B>recruit,
solicit or encourage any person to leave the employ of the Company or any of its Subsidiaries; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.1pt; text-align: justify; text-indent: 1.65in"><B>(b)</B>
hire any employee of the Company or any of its Subsidiaries as a regular employee, consultant, independent contractor or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>7.3.</B>&nbsp;<B>Non-Competition.</B>
The Executive recognizes and acknowledges the competitive and proprietary nature of the business operations of the Company and
its Subsidiaries. During the Employment Period and the Restrictive Period, the Executive shall not, without the prior written consent
of the Company, for himself or on behalf of any Person, directly or indirectly, whether as principal, agent, stockholder, employee,
consultant, representative or in any other capacity, own, manage, operate or control, or be concerned, connected or employed by,
or otherwise associate in any manner with, engage in or have a financial interest in any business that engages in a Competitive
Activity in any geographic area in which the Company actively markets or in which the Executive knows the Company intends to actively
market. For purposes of this Agreement, &ldquo;<B>Competitive Activity</B>&rdquo; means the design, development, manufacture, marketing,
or sale of any product or service that is in competition with any product or service designed, developed, manufactured, marketed,
or sold by the Company or any of its Subsidiaries on the Date or Termination or with respect to which the Company or its Subsidiaries
has acquired or developed, prior to the Date of Termination, confidential information that it intends to use in the design, development,
manufacture, marketing, or sale of a product or service. The parties acknowledge that the Company or its Subsidiaries may from
time to time during the term of this Agreement change or increase the types of products or services it provides and its geographic
markets, and this Agreement shall be deemed to be amended from time to time to include such different products, services, or geographic
markets for the purposes of this <U>Section 7.3</U>. Nothing contained herein shall preclude the Executive from purchasing or owning
stock in any such competitive business if such stock is publicly traded, and provided that his holdings do not exceed one percent
(1%) of the issued and outstanding capital stock of such business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>7.4.</B> <B>Non-Disparagement.</B>
The Executive shall not make any public statement, or engage in any conduct, that is disparaging to the Company, or any of its
employees, officers, directors or stockholders, including, but not limited to, any statement that disparages the products, services,
finances, financial condition, capabilities or other aspects of the business of the Company. Notwithstanding any term to the contrary
herein, the Executive shall not be in breach of this <U>Section 7</U> for the making of any truthful statements under oath.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>7.5.</B> <B>Reasonableness
of Restrictions.</B> The Executive has carefully read and considered the provisions of this <U>Section 7</U>, and, having done
so, agrees (a) that the restrictions set forth herein are reasonable, in terms of scope, duration, geographic area, and otherwise,
(b) that the protection afforded to the Company hereunder is necessary to protect its legitimate business interests, (c) that the
agreement to observe such restrictions form a material part of the consideration for this Agreement and the Executive&rsquo;s employment
by the Company and (d) that upon the termination of the Executive&rsquo;s employment with the Company for any reason, he will be
able to earn a livelihood without violating the foregoing restrictions. In the event that, notwithstanding the foregoing, any of
the provisions of this <U>Section 7</U> shall be held to be invalid or unenforceable, the remaining provisions thereof shall nevertheless
continue to be valid and enforceable as though the invalid or unenforceable parts had not been included therein. In the event that
any provision of this <U>Section 7</U> relating to the time period and/or the areas of restriction and/or related aspects shall
be declared by a court of competent jurisdiction to exceed the maximum restrictiveness such court deems reasonable and enforceable,
the time period and/or areas of restriction and/or related aspects deemed reasonable and enforceable by the court shall become
and thereafter be the maximum restriction in such regard, and the restriction shall remain enforceable to the fullest extent deemed
reasonable by such court. The Restrictive Period shall be computed by excluding from such computation any time during which the
Executive is in violation of any provision of this Section 7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-size: 10pt"><B>8.</B></FONT></TD>
    <TD STYLE="width: 85%; text-align: justify"><FONT STYLE="font-size: 10pt"><B>EXECUTIVE&rsquo;S REPRESENTATIONS AND WARRANTIES</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>8.1.</B> <B>Other
Agreements</B>. The Executive hereby represents and warrants to the Company that the Executive is not a party to or bound by any
employment agreement, non-compete agreement or confidentiality agreement with any other Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>8.2.</B> <B>Enforceability</B>.
The Executive hereby represents and warrants to the Company that upon the execution and delivery of this Agreement by the Company,
this Agreement shall be the valid and binding obligation of the Executive, enforceable in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>8.3.</B> <B>No Breach;
No Conflict of Interest</B>. The Executive hereby represents and warrants to the Company that (a) the execution, delivery and performance
of this Agreement by the Executive do not and shall not conflict with, breach, violate or cause a default under any contract, agreement,
instrument, order, judgment or decree to which the Executive is a party or by which the Executive is bound and (b) the Executive
is not, to the best of the Executive's knowledge and belief, involved in any situation that might create, or appear to create,
a conflict of interest with loyalty to or duties for the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>8.4. Notification
of Materials or Documents from Other Employers</B>. The Executive hereby represents and warrants to the Company that the Executive
has not brought and will not bring to the Company or use in the performance of responsibilities at the Company any materials or
documents of a former employer or client that are not generally available to the public, unless the Executive has obtained express
written authorization from the former employer or client and the Company for their possession and use.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>8.5. Notification
of Other Post-Employment Obligations</B>. The Executive also understands that, as part of the Executive&rsquo;s employment with
the Company, the Executive is not to breach any obligation of confidentiality that the Executive has to former employers or clients,
and agrees to honor all such obligations to former employers or clients during employment with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>8.6.</B>&nbsp;<B>Consultation
with Counsel</B>. The Executive hereby acknowledges and represents that the Executive has consulted with independent legal counsel
regarding the Executive&rsquo;s rights and obligations under this Agreement and that the Executive fully understands the terms
and conditions contained herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>8.7.</B> <B>No Tax
Guarantee.</B> Payments or benefits under this Agreement are subject to any applicable employment or tax withholdings or deductions.
It is the intention of the parties that all payments or benefits provided under this Agreement comply with Section 409A of the
Code and this Agreement shall be interpreted accordingly. If it is determined that a provision is not compliant with Section 409A
of the Code, the parties will, by mutual agreement, amend this Agreement as necessary to comply with Section 409A of the Code,
provided however, that the Company will not be obligated to incur additional expense. Executive acknowledges that he has been advised
to seek independent advice from his tax advisor(s) with respect to the application of Section 409A of the Code to any payments
or benefits under this Agreement. Notwithstanding the foregoing, the Company does not guarantee the tax treatment of any payments
or benefits under this Agreement, including without limitation under the Code, federal, state or local laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-size: 10pt"><B>9.</B></FONT></TD>
    <TD STYLE="width: 85%; text-align: justify"><FONT STYLE="font-size: 10pt"><B>ARBITRATION</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>9.1. Claims. </B>The
Executive and the Company mutually consent to the resolution by arbitration of certain claims or controversies (collectively, &ldquo;<U>Claims&rdquo;</U>)
arising out of or relating to the Executive&rsquo;s employment or termination of employment under this Agreement that either party
may have against the other, including the Company&rsquo;s officers, stockholders, directors, employees, or benefit plans, the benefit
plans&rsquo; sponsors, fiduciaries, administrators, or affiliates; and all successors and assigns of any of them, or agents in
their capacity as such or otherwise. Claims covered by this Agreement shall include claims for (a) wages or other compensation
due; (b) breach of any contract or covenant (express or implied); (c) tort claims; (d) discrimination (including but not limited
to race, sex, religion, national origin, age, disability, citizenship, marital status, or any other basis protected by any applicable
federal, state or local law); (e) payment of wages; (f) benefits (except where an employee benefit or pension plan specifies that
its claims procedure shall use an arbitration procedure different from this one); and (g) violation of any federal, state, or local
law, statute, regulation, or ordinance, or recognized under common law. The Claims not covered by this Agreement shall include
claims (h) for workers&rsquo; compensation or unemployment compensation benefits; (i) brought pursuant to <U>Sections 6 or 10</U>
of this Agreement and breach of duty of loyalty; and (j) unrelated to the Employee&rsquo;s employment with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>9.2.</B> <B>Procedures</B>.
The arbitration shall be governed by the procedures of the American Arbitration Association in accordance with its then-current
Model Employment Arbitration Procedures and shall take place in the Washington-Metropolitan area.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>9.3.</B> <B>Legal
Fees</B>. If the parties to this Agreement become parties to an arbitration proceeding or litigation arising from or relating to
this Agreement, the non-prevailing party shall pay the reasonable attorneys&rsquo; fees and costs incurred by the prevailing party
in such arbitration or litigation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-size: 10pt"><B>10.</B></FONT></TD>
    <TD STYLE="width: 85%; text-align: justify"><FONT STYLE="font-size: 10pt"><B>GENERAL PROVISIONS</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>10.1. Assignment</B>.<B>
</B>The Company may assign this Agreement and its rights and obligations hereunder in whole, but not in part, to any Person with
or into which the Company may hereafter merge or consolidate or to which the Company may transfer all or substantially all of its
assets, if in any such case said Person shall by operation of law or expressly in writing assume all obligations of the Company
hereunder as fully as if it had been originally made a party hereto, but may not otherwise assign this Agreement or its rights
and obligations hereunder. The Executive may not assign or transfer this Agreement or any rights or obligations hereunder without
the prior written consent of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>10.2.</B> <B>Notice</B>.
For the purposes of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and
shall be deemed to have been duly given when delivered or mailed by certified or registered mail, return receipt requested, postage
prepaid, or Federal Express, signature required, if to the Company, addressed to its corporate headquarters at the time notice
is given, &ldquo;Attention Board of Directors&rdquo;; if to the Executive, addressed to his home address as listed in the Company&rsquo;s
records at the time notice is given.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>10.3. Amendment
and Waiver</B>. No provision of this Agreement may be amended or waived unless such amendment or waiver is in writing and signed
by each of the parties hereto. Any such amendment shall comply with the requirements of Section 409Aof the Code, if applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>10.4.</B> <B>Non-Waiver
of Breach</B>. No failure by either party to declare a default due to any breach of any obligation under this Agreement by the
other, nor failure by either party to act quickly with regard thereto, shall be considered to be a waiver of any such obligation,
or of any future breach.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>10.5.</B> <B>Severability</B>.
In the event that any provision or portion of this Agreement shall be determined to be invalid or unenforceable for any reason
and subject to <U>Section 7.5</U> of this Agreement, the remaining provisions of this Agreement shall be unaffected thereby and
shall remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>10.6.</B> <B>Governing
Law</B>. To the extent not preempted by Federal law, the validity and effect of this Agreement and the rights and obligations of
the parties hereto shall be construed and determined in accordance with the law of the State of Maryland, without giving effect
to any choice of law or conflict of law rules or provisions (whether of the State of Maryland or any other jurisdiction) that would
cause the application of the laws of any jurisdiction other than the State of Maryland.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>10.7.</B> <B>Entire
Agreement</B>. This Agreement constitutes the entire agreement and understanding of the parties hereto with respect to the subject
matter hereof and supersedes all prior agreements and understandings relating to such subject matter, whether oral or written,
which shall be null and void and of no further force or effect, including without limitation that certain Consulting Agreement,
dated July 2, 2014, between the Company and the Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>10.8. Binding Effect;
Third Party Beneficiaries</B>. This Agreement shall be binding upon and shall inure to the benefit of the transferees, successors
and assigns of the Company, including without limitation any Person with which the Company may merge or consolidate. The Company&rsquo;s
Subsidiaries are express third party beneficiaries of this Agreement, including the provisions of <U>Section 7</U> of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>10.9.</B> <B>Headings</B>.
Numbers and titles to Sections hereof are for information purposes only and, where inconsistent with the text, are to be disregarded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>10.10.</B> <B>Survival</B>.
<U>Section 1</U> and <U>Sections 5</U> through <U>10</U> of this Agreement shall survive and continue in full force in accordance
with their terms notwithstanding the expiration or termination of the Employment Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>10.11.</B> <B>No
Strict Construction</B>. The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to
express their mutual intent, and no rule of strict construction shall be applied against any party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>10.12.</B> <B>Counterparts</B>.
This Agreement may be executed in separate counterparts (including by means of facsimile), each of which is deemed to be an original
and all of which taken together constitute one and the same agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>10.13.</B> <B>Indemnification
of the Executive.</B> The Company shall, to the extent permitted by the Bylaws of the Company, in a manner as applied to other
officers of the Company, indemnify, protect and hold the Executive harmless from and against any expenses, including reasonable
attorneys&rsquo; fees and expenses, claims, judgments, fines, settlements and other amounts actually and reasonably incurred in
connection with any proceeding arising out of, or related to, the Executive's employment by the Company or any of its Subsidiaries.
The Company shall cause the Executive to be covered under directors and officers liability insurance policies in reasonable amounts
in accordance with the Company's standard corporate policies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>10.14.</B> <B>Injunctive
Relief.</B> The Executive represents and acknowledges that, in light of the payments to be made by the Company to the Executive
hereunder and for other good and valid reasons, as a result of the restrictions stated in the Assignment Agreement and the restrictions
in <U>Section 7</U> of this Agreement, the Company and its Affiliates would sustain irreparable harm and, therefore, in addition
to any other remedies which the Company or its Affiliates may have under this Agreement or otherwise, the Company shall be entitled
to apply to any court of competent jurisdiction for an injunction restraining the Executive from committing or continuing any such
violation of this Agreement, and the Executive shall not object to such application.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.1in"><B>10.15. Section 409A
and Tax Matters. </B>This Agreement is intended to meet the requirements to avoid being subject to the additional taxes imposed
on deferred compensation under Section 409A of the Code and shall be construed and interpreted in accordance with such intent.
No person connected with the Agreement in any capacity, including but not limited to the Company and any Affiliate of the Company
and their respective directors, officers, agents and employees, makes any representation, commitment or guarantee that any tax
treatment, including but not limited to federal, state and local income, estate and gift tax treatment, will be applicable with
respect to any amounts payable under the Agreement or that such tax treatment will apply to or be available to the Executive on
account of participation in the Agreement. In no event whatsoever shall the Company or any Affiliate be liable for any additional
tax, interest, or penalties that may be imposed on Executive as a result of Section 409A of the Code or any damages for failing
to comply with Section 409A of the Code (other than for withholding obligations or other obligations applicable to employers, if
any, under Section 409A of the Code).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.55in"><B><I>[Signatures on
next page]</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.55in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.55in"><B>IN WITNESS WHEREOF,</B> the parties
hereto have caused this Executive Employment Agreement to be duly executed on the date and year first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%"><FONT STYLE="font-size: 10pt"><B>THE COMPANY:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">TSS, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">By: <U>/s/ Anthony Angelini&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anthony Angelini</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"><B>THE EXECUTIVE:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE=><FONT STYLE="font-size: 10pt"><U>/s/ John K. Penver&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">John K. Penver</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SEPARATION FROM EMPLOYMENT AGREEMENT
AND RELEASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in">1. This Separation
from Employment Agreement and Release (this &ldquo;Agreement&rdquo;) is between the Executive, John K. Penver, the Executive&rsquo;s
spouse, family, agents and attorneys) (jointly, the &ldquo;Executive&rdquo;) and TSS, Inc. (the &ldquo;Company&rdquo;), its subsidiaries,
affiliated entities, direct or indirect owners and its and their respective officers, directors, employees, agents, predecessors,
successors, purchasers, assigns, representatives, fiduciaries, and insurers (jointly, the &quot;Released Parties&quot;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in">2. If the Executive
signs this agreement and does not revoke it, the Executive will receive the applicable severance payments and benefits set forth
in <U>Section 5</U> of that certain Executive Employment Agreement, effective as of August 29, 2014 (the &ldquo;Employment Agreement&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in">3. The Executive,
deeming this Agreement to be fair, reasonable, and equitable, and intending to be legally bound hereby, agrees to and hereby does,
forever and irrevocably fully waive the Executive&rsquo;s right to assert any and all forms of legal claims against the Released
Parties, of any kind whatsoever, whether known or unknown, arising from the beginning of time through the date the Executive execute
this Agreement (the &ldquo;Execution Date&rdquo;). Except as set forth below, the Executive&rsquo;s waiver and release herein is
intended to bar any form of legal claim, complaint or any other form of action (jointly referred to as &ldquo;Claims&rdquo;) against
the Released Parties seeking any form of relief including, without limitation, equitable relief (whether declaratory, injunctive
or otherwise), the recovery of any damages, or any other form of monetary recovery whatsoever (including, without limitation, back
pay, front pay, compensatory damages, emotional distress damages, punitive damages, attorneys&rsquo; fees and any other costs)
against the Released Parties, for any alleged action, inaction or circumstance existing or arising through the Execution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in">Without limiting the
foregoing general waiver and release, the Executive specifically waives and releases the Released Parties from any Claim arising
from or related to the Executive&rsquo;s employment relationship with the Released Parties or the termination thereof, including,
without limitation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-indent: -27pt">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD STYLE="width: 86%; text-align: justify"><FONT STYLE="font-size: 10pt">Claims under any state or federal discrimination, fair employment practices or other employment related statute, regulation or executive order (as they may have been amended through the Execution Date) prohibiting discrimination or harassment based upon any protected status including, without limitation, race, national origin, age, gender, marital status, disability, veteran status or sexual orientation. Without limitation, specifically included in this paragraph are any Claims arising under the Civil Rights Acts of 1866 and 1871, Title VII of the Civil Rights Act of 1964, the Americans With Disabilities Act, the Age Discrimination in Employment Act and any similar Maryland or other state statute.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 105.75pt">&nbsp;&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 105.75pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 105.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 105.75pt">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Claims under any other state or federal employment related statute, regulation or executive order (as they may have been amended through the Execution Date) relating to other terms and conditions of employment. Without limitation, specifically included in this paragraph are any Claims arising under the Employee Retirement Income Security Act of 1974, the Consolidated Omnibus Budget Reconciliation Act of 1985 (&ldquo;COBRA&rdquo;) and any similar state statute.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Claims under any state or federal common law theory including, without limitation, wrongful discharge, breach of express or implied contract, promissory estoppel, unjust enrichment, breach of a covenant of good faith and fair dealing, violation of public policy, defamation, interference with contractual relations, intentional or negligent infliction of emotional distress, invasion of privacy, misrepresentation, deceit, fraud or negligence.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Any right to recover from any complaints, charges or lawsuits filed by any federal or state agency on the Executive&rsquo;s behalf.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 7%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD STYLE="vertical-align: top; width: 73%; text-align: justify"><FONT STYLE="font-size: 10pt">Any other Claim arising under state or federal law.</FONT></TD>
    <TD STYLE="width: 13%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.55in">4. Notwithstanding the foregoing, this
Agreement does not:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD STYLE="width: 86%; text-align: justify"><FONT STYLE="font-size: 10pt">release the Released Parties from any obligation expressly set forth in this Agreement or from any obligation, including without limitation obligations under the Workers Compensation laws, which as a matter of law cannot be released;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">prohibit the Executive from filing a charge with the Equal Employment Opportunity Commission (&ldquo;EEOC&rdquo;);</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">prohibit the Executive from participating in an investigation or proceeding by the EEOC or any comparable state or local agency; or</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">prohibit the Executive from challenging or seeking a determination in good faith of the validity of this release or waiver under the Age Discrimination in Employment Act and does not impose any condition precedent, penalty, or costs for doing so unless specifically authorized by federal law.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">5. The Executive understands that this Agreement
is not an admission of liability under any statute or otherwise by the Released Parties, and that the Released Parties do not admit,
but deny, any violation of Executive&rsquo;s legal rights, and that Executive shall not be regarded as a prevailing party for any
purpose, including but not limited to, determining responsibility for or entitlement to attorneys&rsquo; fees, under any statute
or otherwise. The Executive agrees that in the event the Executive brings a Claim in which the Executive seeks damages or other
relief from any Released Party, or in the event the Executive seeks to recover against any Released Party in any Claim brought
by a governmental agency on the Executive&rsquo;s behalf, this Agreement shall serve as a complete defense to such Claims.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">6. The Executive agrees that the Executive
has been paid for all hours worked, including any overtime bonus or other incentive compensation, has submitted all invoices and
expense reports, and has not suffered any on-the-job injury for which the Executive has not already filed a claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">7. The Executive agrees that every term of
this Agreement, including, but not limited to, the fact that an agreement has been reached and the amount paid, shall be treated
by the Executive as strictly confidential, and expressly covenants not to display, publish, disseminate, or disclose the terms
of this Agreement to any person or entity other than the Executive&rsquo;s immediate family, the Executive&rsquo;s attorney(s)
(for purposes of seeking advice concerning this agreement only) and the Employee&rsquo;s accountant(s) (for purposes of seeking
tax advice only), unless compelled to make disclosure by lawful court order or subpoena.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">8. The Executive and the Company have entered
into an Invention Assignment and Confidentiality Agreement (the &ldquo;Assignment Agreement&rdquo;). The Executive reaffirms his
obligation to comply with all of the post-termination obligations in the Assignment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 45pt">9. The Executive also
agrees that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;The
Executive is entering into this agreement knowingly and voluntarily;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;The
Executive has been advised by the Company to consult an attorney;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;As
set forth in Attachment A, the Executive has been given the right to take 21 days (the &ldquo;Consideration Period&rdquo;) to consider
this agreement; provided, however the Employee and the Company hereby agree that if there is a dispute as to the payment of wages
such that the Executive is unable to make the representation set forth in <U>Section 6</U> as to payment for hours worked (including
any overtime bonus or other incentive compensation), the Consideration Period shall terminate on the later of the natural expiration
of the Consideration Period or the date that is one day after the resolution of all claims regarding wages;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;But
for the Executive&rsquo;s execution of this Agreement, the Executive would not otherwise be entitled to the payments described
in paragraph 2; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;if
any part of this Agreement is found to be illegal or invalid, the rest of the Agreement will be enforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">10. As a further consideration and inducement
for this Agreement, the Executive hereby waives any and all rights under Section 1542 of the California Civil Code or any similar
state, local, or federal law, statute, rule, order or regulation the Executive may have with respect to the Company. Section 1542
provides:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in">A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR
DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE
MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">The Executive expressly agrees that this
Release shall extend and apply to all unknown, unsuspected and unanticipated injuries and damages as well as to those that are
now disclosed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11. After the Executive
signs this agreement, the Executive will have 7 days to revoke it. If the Executive wants to revoke it, the Executive should deliver
a written revocation to __________. If the Executive does not revoke it, the Executive will receive the payment described in Paragraph
2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">COMPANY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">TSS, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 5%; text-align: justify"><FONT STYLE="font-size: 10pt">Date:</FONT></TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EXECUTIVE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 44%">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-bottom: 1pt; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 5%; text-align: justify"><FONT STYLE="font-size: 10pt">Date:</FONT></TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Executive</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ATTACHMENT A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>CONSIDERATION PERIOD</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in">I, John K. Penver
understand that I have the right to take at least 21 days to consider whether to sign this Separation From Employment and Release
Agreement, which I received on [TERMINATION DATE]. If I elect to sign this Agreement before 21 days have passed, I understand I
am to sign and date below this paragraph to confirm that I knowingly and voluntarily agree to waive the 21-day consideration period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 37%; border-bottom: white 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 63%; border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Executive Signature</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Date</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>EXHIBIT B</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>INVENTION ASSIGNMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>AND CONFIDENTIALITY AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in">The following confirms
an Invention Assignment and Confidentiality Agreement (&ldquo;Agreement&rdquo;) between me and TSS, Inc., a Delaware corporation
(the &ldquo;Company,&rdquo; which term includes the Company&rsquo;s affiliates, subsidiaries and any assigns). The promises and
commitments that I make in this Agreement are a material part of the Company&rsquo;s consideration in my employment relationship
with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">1.</FONT></TD>
    <TD STYLE="width: 93%; text-align: justify"><FONT STYLE="font-size: 10pt">I understand and agree that my employment by the Company creates a duty of loyalty and a relationship of confidence and trust between me and the Company with respect to any information made known to me by the Company or by any client, customer or vendor of the Company or other person who submits information to the Company, or which may be learned by me during the period of my employment.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">2.</FONT></TD>
    <TD STYLE="width: 93%; text-align: justify"><FONT STYLE="font-size: 10pt">I recognize that the Company is continuously engaged in activities that the Company regards as confidential, proprietary and/or legally protectable, which activities are at least in part intended to further the interests of the Company and to provide the Company with a competitive advantage. The Company possesses and will, in the future, continue to possess information that has been or will be created, discovered, developed or otherwise becomes known to the Company (including information created by, discovered or developed by, or made known to me) during the period of or arising out of my employment by the Company. I understand that various intellectual and other property rights have been assigned or otherwise conveyed to the Company. All information concerning the above described activities and information is collectively called &ldquo;Proprietary Information&rdquo; (as defined below) under this Agreement.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">3.</FONT></TD>
    <TD STYLE="width: 93%; text-align: justify"><FONT STYLE="font-size: 10pt">By way of illustration, but not limitation, &ldquo;Proprietary Information&rdquo; includes: trade secrets, processes, formulas, data and know-how; software programs, improvements, and inventions; research and development plans, tools and techniques; new product introduction plans, specifications, requirements documents and strategies; manufacturing techniques, strategies and costs, expenses, supplier information and lists and distribution information; terms and conditions in contracts of all kinds; marketing plans, strategies and service; support strategies and procedures; development schedules; revenue forecasts; computer programs; copyrightable material, employee salaries, employee expertise, employee ability levels, training programs and procedures, copies of memos or presentations incorporating confidential information that I may have in my files (including those which I authored), patent applications and disclosures and customer lists.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">4.</FONT></TD>
    <TD STYLE="width: 93%; text-align: justify"><FONT STYLE="font-size: 10pt">In consideration of my employment by the Company and the compensation received by me from the Company from time to time, I hereby agree as follows:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="width: 86%; text-align: justify"><FONT STYLE="font-size: 10pt">All Proprietary Information shall be the sole property of the Company, and the Company shall be the sole owner of all patents, copyrights, trademarks and other rights related to Proprietary Information. I hereby assign to the Company any rights I may have or acquire in Proprietary Information. At all times, both during and after my employment by the Company, I will keep in confidence and trust all Proprietary Information, and I will not use or disclose any Proprietary Information or anything related to it without written consent of the Company, except as may be necessary in the ordinary course of performing my duties to the Company.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="width: 86%; text-align: justify"><FONT STYLE="font-size: 10pt">All documents, records, apparatus, equipment and other physical property, whether or not pertaining to Proprietary Information, furnished to me by the Company or produced by myself or others in connection with employment by the Company shall be and remain the sole property of the Company, shall be used by me solely for the benefit of the Company and shall be returned to the Company immediately as and when requested by the Company. Even if the Company does not so request, I shall return and deliver all such property to the Company upon termination of my employment by me or by the Company for any reason. I will not take with me any such property or any form of copy or reproduction of such property upon my termination.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">(c)</FONT></TD>
    <TD STYLE="width: 86%; text-align: justify"><FONT STYLE="font-size: 10pt">I will promptly disclose to the Company, or any persons designated by it, all improvements, inventions, formulas, ideas, processes, techniques, know-how and data, whether or not patentable, made or conceived or reduced to practice or learned by me, either alone or jointly with others, during the period of my employment (all said improvements, inventions, formulas, ideas, processes, techniques, know-how and data shall be hereinafter collectively call &ldquo;Inventions&rdquo;).</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="width: 86%; text-align: justify"><FONT STYLE="font-size: 10pt">I agree that all Inventions that I develop or have developed (in whole or in part, either alone or jointly with others) and (i) use or have used equipment, supplies, facilities or trade secret information of the Company, or (ii) use or have used the hours for which I am to be or was compensated by the Company, or (iii) which relate to the business of the Company or to its actual or demonstrably anticipated research and development or (iv) which result, in whole or in part, from work performed by me for the Company shall be the sole property of the Company and its assigns, and the Company and its assigns shall be the sole owner of all patents, copyrights and other rights in connection therewith. I hereby assign to the Company any rights I may have or acquire in such Inventions. I further agree as to all such inventions and improvements to assist the Company in every proper way (but at the Company&rsquo;s expense) to obtain and from time to time enforce patents, copyrights or other rights on said inventions and improvements in any and all countries, and to that end I will execute all documents in use for applying for and obtaining such patents and copyrights thereon and enforcing same, as the Company may desire, together with any assignments thereof to the Company or persons designated by it. My obligation to assist the Company in obtaining and enforcing patents, copyrights or other rights for such inventions and improvements in any and all countries shall continue beyond the termination of my employment, but the Company shall compensate me at a reasonable rate after such termination for time actually spent by me at the Company&rsquo;s request on such assistance.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">(e)</FONT></TD>
    <TD STYLE="width: 86%; text-align: justify"><FONT STYLE="font-size: 10pt">In the event that the Company is unable for any reason whatsoever to secure my signature to any lawful and necessary document required to apply for or execute any patent, copyright or other applications with respect to such inventions and improvements (including renewals, extensions, continuations, divisions or continuations in part thereof), I hereby irrevocably designate and appoint the Company and its authorized officers and agents, as my agents and attorneys-in-fact, this power of attorney being coupled with an interest, to act for and in my behalf and instead of me, to execute and file any such application and to do all other lawfully permitted acts to further the prosecution and issuance of patents, copyrights or other rights thereon with the same legal force and effect as if executed by me.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">(f)</FONT></TD>
    <TD STYLE="width: 86%; text-align: justify"><FONT STYLE="font-size: 10pt">As a matter of record, on <U>Attachment A</U>, I have attached a complete list of all inventions or improvements relevant to the subject matter of my employment by the Company that have been made or conceived or first reduced to practice by me alone or jointly with others prior to my employment with the Company that I desire to remove from the operation of this Agreement, and I covenant that such list is complete. If no such list is signed by me and attached to this Agreement, I represent and warrant that I have no such inventions or improvements at the time of signing this Agreement, and I agree that I will make no claim against the Company with respect to any such inventions or ideas.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">(g)</FONT></TD>
    <TD STYLE="width: 86%; text-align: justify"><FONT STYLE="font-size: 10pt">I represent that my performance of all the terms of this Agreement will not breach any agreement to keep in confidence proprietary information acquired by me in confidence or in trust prior to my employment by the Company. I have not entered into, and I agree I will not enter into, any agreement either written or oral in conflict with this Agreement.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">(h)</FONT></TD>
    <TD STYLE="width: 86%; text-align: justify"><FONT STYLE="font-size: 10pt">I acknowledge that the Company from time to time may be involved in government projects of a classified nature. I further acknowledge that the Company from time to time may have agreements with other persons or governmental agencies that impose obligations or restrictions on the Company regarding inventions made during the course of work thereunder or regarding the confidential nature of such work or information disclosed in connection therewith. I agree to be bound by all such obligations and restrictions and to take all action necessary to discharge the obligations of the Company thereunder.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="width: 86%; text-align: justify"><FONT STYLE="font-size: 10pt">I represent and warrant that execution of this Agreement, my employment with the Company and my performance of my proposed duties to the Company in the development of its business have not and will not violate any obligations which I may have to any former employer.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">(j)</FONT></TD>
    <TD STYLE="width: 86%; text-align: justify"><FONT STYLE="font-size: 10pt">I agree that at no time during my employment by the Company or thereafter shall I make, or cause or assist any other person to make, any statement or other communication to any third party that impugns or attacks, or is otherwise critical of, the reputation, business or character of the Company or any of its Affiliates or any of their respective directors, officers or employees.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">5.</FONT></TD>
    <TD STYLE="width: 93%; text-align: justify"><FONT STYLE="font-size: 10pt">This Agreement shall be effective as of the first day of my employment by the Company.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">6.</FONT></TD>
    <TD STYLE="width: 93%; text-align: justify"><FONT STYLE="font-size: 10pt">This Agreement may not be changed, modified, released, discharged, abandoned or otherwise amended, in whole or in part, except by an instrument in writing, signed by myself and the Company. I agree that any subsequent change or changes in my duties, salary or compensation shall not affect the validity or scope of this Agreement.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">7.</FONT></TD>
    <TD STYLE="width: 93%; text-align: justify"><FONT STYLE="font-size: 10pt">I acknowledge receipt of this Agreement and agree that with respect to the subject matter hereof it is my final, complete and exclusive agreement with the Company, superseding any previous oral or written representations, understanding or agreements with the Company or any officer or representative with respect to the subject matter herein.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">8.</FONT></TD>
    <TD STYLE="width: 93%; text-align: justify"><FONT STYLE="font-size: 10pt">In the event that any paragraph or provision of this Agreement shall be held to be illegal or unenforceable, such paragraph or provision shall be modified to the extent necessary to give effect to the intent of the parties or, if necessary, severed from this Agreement and the entire Agreement shall not fail on account thereof, but shall otherwise remain in full force and effect.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">9.</FONT></TD>
    <TD STYLE="width: 93%; text-align: justify"><FONT STYLE="font-size: 10pt">This Agreement shall be construed in accordance with the laws of the State of Maryland without regard to its choice of law principles.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify"><FONT STYLE="font-size: 10pt">10.</FONT></TD>
    <TD STYLE="width: 93%; text-align: justify"><FONT STYLE="font-size: 10pt">This Agreement shall be binding upon me, my heirs, executors, assigns, and administrators and shall inure to the benefit of the Company, its successors and assigns.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I acknowledge that the foregoing restrictions
contained in <U>Section 4</U> are reasonable in all respects including the scope, duration and geographic limitations. I agree
that the restrictions are an appropriate means of protecting the Company&rsquo;s legitimate business interests, and no greater
than necessary to protect the Company&rsquo;s interests. I acknowledge that these restrictions will not unreasonably interfere
with my ability to make a living.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: August 29, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 99%"><FONT STYLE="font-size: 10pt">_______________________________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">John K. Penver</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Accepted and Agreed to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TSS, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By: &nbsp;__________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.25in; text-indent: 0.5in">Anthony Angelini, Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>v388245_ex99-3.htm
<DESCRIPTION>AWARD AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AWARD AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Award Agreement (this &ldquo;Agreement&rdquo;)
is made as of August 29, 2014 (&ldquo;Grant Date&rdquo;), between TSS, Inc. (the &ldquo;Company&rdquo;) and John K. Penver (the
&ldquo;Executive&rdquo;). The Board of Directors of the Company has authorized the grant to the Executive of (a) restricted shares
(the &ldquo;Restricted Stock&rdquo;) of the Company&rsquo;s common stock (&ldquo;Common Stock&rdquo;) and (b) an option (the &ldquo;Option&rdquo;)
to purchase shares of Common Stock, subject to the terms and provisions of this Agreement. For the avoidance of doubt, neither
the Restricted Stock nor the Option is being granted under the Company&rsquo;s 2006 Omnibus Incentive Compensation Plan. The Company
and the Executive have entered into that certain Executive Employment Agreement effective as of the date hereof (the &ldquo;Employment
Agreement&rdquo;). Capitalized terms used in this Agreement and not otherwise defined in this Agreement shall have the meanings
set forth in the Employment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company and the Executive agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD>The Company grants to the Executive, subject to the terms and conditions of this Agreement, 250,000 shares of Restricted Stock.
The Executive may exercise full voting rights with respect to the Restricted Stock. The Restricted Stock shall be forfeited automatically
on the Termination Date. Unless forfeited in accordance with the immediately preceding sentence, the following shares of Restricted
Stock shall become fully vested and no longer subject to forfeiture in accordance with the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-indent: -0.7pt">(a) all of the shares of Restricted
Stock shall become fully vested upon the occurrence of a Change in Control of the Company,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-indent: -0.7pt">(b) an amount of shares of Restricted
Stock equal to (x) 100,000 shares <U>less</U> (y) the amount of shares that have already fully vested under this Agreement shall
become fully vested if the Employment Period is terminated by the Company other than for Cause and the Executive executes the Release
on or before the Date of Termination,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4in; text-indent: -0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-indent: -0.7pt">(c) an amount of shares of Restricted
Stock equal to (x) 100,000 shares <U>less</U> (y) the amount of shares that have already fully vested under this Agreement shall
become fully vested if the Employment Period is terminated by the Executive for a Good Reason and the Executive executes the Release
on or before the Date of Termination,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-indent: -0.7pt">(d) 50,000 shares of Restricted
Stock shall become fully vested on September 29, 2014,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-indent: -0.7pt">(e) 100,000 shares of Restricted
Stock shall become fully vested on August 29, 2015, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-indent: -0.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-indent: -0.7pt">(f) 100,000 shares of Restricted
Stock shall become fully vested on August 29, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.5pt; text-indent: -0.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The Company shall retain the certificates representing
the Restricted Stock until the Restricted Stock becomes fully vested and no longer subject to forfeiture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD>The Company grants to the Executive, subject to the terms and conditions of this Agreement, an Option to purchase 200,000 shares
of Common Stock (&ldquo;Option Shares&rdquo;) in installments as set forth in the following sentence at an exercise per share equal
to the average of the high and low bid prices for the Common Stock reported daily on the OTCQB marketplace during the 20 trading
days following the Grant Date (the &ldquo;Exercise Price&rdquo;). The Option shall become exercisable and may be exercised in installments
in accordance with the following schedule: (a) with respect to 100,000 Option Shares, when the Fair Market Value is $2.00 for 20
consecutive Business Days; and (b) with respect to 100,000 Option Shares, when the Fair Market Value is $3.00 for 20 consecutive
Business Days. Notwithstanding the foregoing, the Option shall become immediately exercisable upon the occurrence of a Change in
Control of the Company that occurs on or after the first anniversary of the Effective Date. The Option may not be exercised after
August 29, 2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in">For purposes of this Agreement, (x) &ldquo;Fair Market
Value&rdquo; means the fair market value of a share of Common Stock as determined in good faith by the Company&rsquo;s Board of
Directors, and (y) &ldquo;Business Day&rdquo; means any day other than Saturday, Sunday, or a day on which commercial banks are
authorized or required by law to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD>Except as otherwise set forth in this Agreement, the Option shall terminate effective the close of business on the Termination
Date, except (a) to the extent previously exercised, (b) as provided in paragraph 5 of this Agreement, and (c) in the case termination
of employment by the Company other than for Cause, for a period of 60 days thereafter the Executive shall be entitled to exercise
that portion of the Option that was exercisable at the close of business on the Termination Date, provided that in no event may
any portion of the Option be exercised after August 29, 2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD>The Option is nontransferable otherwise than by will or the laws of descent and distribution, and, during the lifetime of the
Executive, the Option may be exercised only by the Executive or, during the period the Executive is under a legal disability, by
the Executive&rsquo;s guardian or legal representative. Except as provided above, neither the Restricted Stock nor the Option may
be assigned, transferred, pledged, hypothecated or disposed of in any way (whether by operation of law or otherwise) and shall
not be subject to execution, attachment or similar process.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD>If the Executive dies without the Option having been exercised in full, the executor or administrator of the Executive&rsquo;s
estate or the person who inherits the right to exercise the Option by bequest or inheritance shall have the right within three
years of the Executive&rsquo;s death to purchase the number of Option Shares the Executive was entitled to purchase at the date
of death, after which the Option will lapse, provided that in no event may the Option be exercised after August 29, 2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.</TD><TD>The Option shall be exercised by the delivery of a written notice of exercise to the Company, setting forth the number of Option
Shares with respect to which the Option is to be exercised, accompanied by full payment for the Option Shares. The Exercise Price
shall be payable to the Company in full either: (a) in cash or its equivalent, (b) by tendering previously acquired shares of Common
Stock having an aggregate Fair Market Value at the time of exercise equal to the total Exercise Price (provided that the shares
that are tendered must have been held by the Executive for at least six (6) months prior to their tender to satisfy the Exercise
Price), (c) by withholding shares of Common Stock issuable pursuant to the exercise of the Option having an aggregate Fair Market
Value at the time of exercise equal to the total Exercise Price, or (d) such other methods as the Company shall authorize. The
Company may permit the exercise of the Option upon the receipt from a third party of payment (or a commitment to make payment)
in full in cash for the Exercise Price prior to the issuance of the Option Shares in the manner and subject to the procedures as
may be established by the Company. As soon as practicable after receipt of a written notification of exercise and full payment,
the Company shall deliver to the Executive, in the Executive&rsquo;s name, certificates in an appropriate amount based upon the
number of Option Shares purchased under the Option.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD>The Option may be exercised non-sequentially in respect of any other option to acquire Common Stock granted to the Executive,
whether in the Executive&rsquo;s possession or hereafter acquired.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD>At the time the Restricted Stock vests or the Option is exercised, in whole or in part, or at any time thereafter as requested
by the Company, the Executive hereby authorizes withholding from payroll or any other payment of any kind due the Executive and
otherwise agrees to make adequate provision for foreign, federal, state and local taxes required by law to be withheld, if any,
which arise in connection with the Restricted Stock or the Option. The Company may require the Executive to make a cash payment
to cover any withholding tax obligation as a condition of issuance of share certificates representing Option Shares or upon the
vesting of Restricted Stock.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The Company may permit the Executive to satisfy,
in whole or in part, any withholding tax obligation that may arise in connection with the vesting of Restricted Stock or the exercise
of the Option either by electing to have the Company withhold from the shares of Common Stock to be issued upon vesting or exercise,
as the case may be, that number of shares of Common Stock, or by electing to deliver to the Company already-owned shares of Common
Stock, in either case having a Fair Market Value equal to the amount necessary to satisfy the statutory minimum withholding amount
due. If the Executive elects to satisfy the tax withholding obligation by having the Company withhold shares of Common Stock upon
the vesting of the Restricted Stock or the exercise of the Option, the number of shares of Common Stock to be withheld shall be
based on the minimum estimated federal, state and local taxes payable by the Exercise as a result of the vesting of the Restricted
Stock or the exercise of the Option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">9.</TD><TD>The Executive acknowledges and agrees that any sales of shares of Common Stock shall be made in accordance with the requirements
of the Securities Act of 1933, as amended. The Company intends to file a registration statement with the Securities and Exchange
Commission with respect to the Common Stock to be issued hereunder. The Company intends to maintain this registration statement
but has no obligation to do so. If the Company fails to file such registration statement or the registration statement ceases to
be effective for any reason or there is a restriction under foreign law, the Executive will not be able to transfer or sell any
of the shares of Common Stock issued to the Executive under this Agreement unless exemptions from registration or filings under
applicable securities laws are available. The Company shall not be obligated to either issue the Common Stock or permit the resale
of any shares of Common Stock if such issuance or resale would violate any applicable securities law, rule or regulation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">10.</TD><TD>Nothing in this Agreement shall interfere with or limit in any way the right of the Company to terminate the Executive&rsquo;s
employment at any time, nor confer upon the Executive any right to continue in the employ of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">11.</TD><TD>No provision of this Agreement may be amended unless such amendment is in writing and signed by the Executive and the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">12.</TD><TD>All obligations of the Company under this Agreement shall be binding on any successor to the Company, whether the existence
of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially
all of the business and/or assets of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">13.</TD><TD>To the extent not preempted by federal law, this Agreement shall be construed in accordance with and governed by the laws of
the State of Delaware, without giving effect to the conflict of laws principles thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The undersigned parties have executed this
Agreement as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 4.5in">TSS, INC.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 4.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 4.5in">By: &nbsp;<U>/s/ Anthony Angelini&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 4.75in">Anthony Angelini</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 4.75in">Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 4.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 4.5in">EXECUTIVE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 4.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 4.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 4.5in">&#9;<U>/s/ John K. Penver&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 4.5in">John
K. Penver</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 4.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; margin-left: 4.5in"></P>

<!-- Field: Page; Sequence: 4; Options: Last -->
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
