<SEC-DOCUMENT>0001144204-11-036843.txt : 20110621
<SEC-HEADER>0001144204-11-036843.hdr.sgml : 20110621
<ACCEPTANCE-DATETIME>20110621172338
ACCESSION NUMBER:		0001144204-11-036843
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20110615
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Unregistered Sales of Equity Securities
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:		20110621
DATE AS OF CHANGE:		20110621

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			R F INDUSTRIES LTD
		CENTRAL INDEX KEY:			0000740664
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC CONNECTORS [3678]
		IRS NUMBER:				880168936
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-13301
		FILM NUMBER:		11924165

	BUSINESS ADDRESS:	
		STREET 1:		7610 MIRAMAR RD
		STREET 2:		BLDG 6000
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92126-2313
		BUSINESS PHONE:		8585496340

	MAIL ADDRESS:	
		STREET 1:		7620 MIRAMAR RD #4100
		STREET 2:		7620 MIRAMAR RD #4100
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92126-4202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CELLTRONICS INC
		DATE OF NAME CHANGE:	19910204
</SEC-HEADER>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT REPORT</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to Section&#160;13 or 15(d) of the Securities Exchange Act of 1934</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of Report (date of earliest event reported):&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;June 15, 2011</font><br>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7610 Miramar Road, Bldg. 6000,</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item 1.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Entry Into a Material Definitive Agreement.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On June 15, 2011, RF Industries, Ltd. (the &#8220;Company&#8221; or &#8220;our&#8221;), completed the previously announced acquisition of Cables Unlimited, Inc., a New York corporation, pursuant to the Agreement and Plan of Reorganization, dated June 6, 2011 (the &#8220;Acquisition Agreement&#8221;), by and among the Company, CUI Acquisitions, Inc., a newly formed New York corporation and wholly-owned subsidiary of the Company (&#8220;CUI Acquisitions&#8221;), Cables Unlimited, Inc., and Darren Clark (the &#8220;Seller&#8221;), the sole shareholder of Cables Unlimited, Inc.&#160;&#160;Pursuant to the Acquisition Agreement, at the closing of the transactions contemplated by the Acquisition Agreement, CUI Acquisitions merged with Cables Unlimited, Inc., with CUI Acquisitions as the surviving entity (the &#8220;Merger&#8221;), and CUI Acquisitions changed its name to &#8220;Cables Unlimited, Inc.&#8221; (&#8220;Cables Unlimited&#8221;).&#160;&#160;The material terms of the Acquisition Agreement and the Merger were previously disclosed in our Current Report on Form 8-K filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on June 7, 2011.&#160;&#160;See Item 2.01 of this Current Report on Form&#160;8-K for a discussion of the completion of our acquisition of Cables Unlimited, Inc.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In connection with the closing of the Merger, Cables Unlimited (f/k/a CUI Acquisitions, Inc.) entered into a lease (the &#8220;Lease&#8221;), dated June 15, 2011, with K &amp; K Unlimited, a New York limited liability company (&#8220;Landlord&#8221;), under which Cables Unlimited will lease from Landlord the real property located at 3 Old Dock Road, Yaphank, New York, 11980, together with the building located thereon, and all affixed property, furniture, fixtures, and equipment currently located in the building (the &#8220;Premises&#8221;).&#160;&#160;The Lease is for a term of approximately five (5) years, commencing on June 15, 2011 and ending on June 30, 2016, unless earlier terminated in accordance with the Lease, and subject to Cables Unlimited&#8217;s one time option to extend the term of the Lease for an additional five (5) year term, as further described in the Lease.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cables Unlimited&#8217;s monthly rent expense under the Lease is $13,000 per month, plus payments of all utilities, janitorial expenses, routine maintenance costs, and costs of insurance for Cables Unlimited&#8217;s business operations and equipment, as described in the Lease.&#160;&#160;Immediately prior to the closing of the Merger, Cables Unlimited, Inc. rented the Premises from Landlord and conducted Cables Unlimited, Inc.&#8217;s business from the Premises.&#160;&#160;The Landlord is a family company controlled by the Seller.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item 2.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Completion of Acquisition or Disposition of Assets.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Reference is made to Item 1.01 above, and the contents of that section are incorporated herein, as if fully set forth under this Item 2.01.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the Acquisition Agreement, on June 15, 2011, upon the filing of a Certificate of Merger with the New York Department of State, Cables Unlimited, Inc., merged with and into CUI Acquisitions, with CUI Acquisitions as the surviving entity.&#160;&#160;In connection with the Merger, CUI Acquisitions changed its name to &#8220;Cables Unlimited, Inc.&#8221; and will continue the business and operations of Cables Unlimited, Inc.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under the Acquisition Agreement, the Seller&#8217;s shares of Cables Unlimited, Inc. common stock issued and outstanding immediately prior to the closing of the Merger were converted into the right to receive a total of $5,600,000 in cash and shares of the Company&#8217;s common stock.&#160;&#160;The purchase price was paid one-half in cash and one-half in shares of unregistered common stock of the Company.&#160;&#160;Accordingly, at the closing, the Company issued to the Seller 762,738 shares of the Company&#8217;s common stock (the number of shares is equal to $2,800,000 divided by the volume weighted average price of the Company&#8217;s common stock for the five trading days prior to the date on which the transactions contemplated by the Acquisition Agreement were first publicly disclosed, i.e., June 7, 2011).&#160;&#160;Of the $2,800,000 cash amount, $2,550,000 was paid to Seller at the closing, and $250,000 was deposited into an escrow account with a New York bank, to be held in escrow for up to one year following the closing as security for the Seller&#8217;s indemnification obligations under the Acquisition Agreement.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cables Unlimited, Inc. is an established fiber optic custom cable manufacturer based in Long Island, New York.&#160;&#160;Cables Unlimited, Inc. is a Corning Cable Systems CAH Connections SM Gold Program member, authorized to manufacture optic products that are backed by Corning Cable Systems&#8217; extended warranty.&#160;&#160;The products manufactured by Cables Unlimited, Inc. include custom fiber optic cable assemblies, adapters and electromechanical wiring harnesses for communications, computer, LAN, automotive and medical equipment.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">At the time of the Merger, and other than with respect to the Acquisition Agreement, neither the Company, nor any of the Company&#8217;s officers, directors, or affiliates had any material relationship with Cables Unlimited, Inc. or the Seller.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item 3.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Unregistered Sales of Equity Securities.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The information in Item 2.01 of this Report, regarding the issuance of 762,738 shares of the Company&#8217;s common stock to the Seller in connection with the closing of the Merger is incorporated herein by reference.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company issued the foregoing shares pursuant to an exemption from registration provided by Section 4(2) of the Securities Act of 1933, as amended, as a transaction not involving a public offering of securities.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item 5.02.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In connection with and effective immediately upon the closing of the Merger, (i) the Company&#8217;s Board of Directors increased the size of our Board of Directors from five to six, and appointed Darren Clark, the Seller, to fill the vacancy created by the increase in the size of our Board of Directors, and (ii) Darren Clark entered into an employment agreement (the &#8220;Employment Agreement&#8221;) with the Company, pursuant to which Darren Clark is employed as Cables Unlimited&#8217;s Chief Executive Officer through June 15, 2013, subject to earlier termination as provided in the Employment Agreement.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In consideration for Mr. Clark&#8217;s service as a member of the Board of Directors of the Company, effective as of June 15, 2011, the Company granted Mr. Clark a five-year<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>option to purchase an aggregate of up to 15,000 shares of common stock of the Company.&#160;&#160;The options vested immediately and have an exercise price equal to the closing price of the Company&#8217;s common stock on June 15, 2011 (i.e., $3.69 per share).&#160;&#160;The option was granted pursuant to the Company&#8217;s standard form of stock option agreement, as previously filed with the SEC.&#160;&#160;Moreover, Mr. Clark will receive annual compensation payable pursuant to the Board of Director&#8217;s normal policies.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under the Employment Agreement, Mr. Clark is entitled to an annual salary of $150,000.&#160;&#160;Additionally, Mr. Clark is eligible to participate, to&#160;the extent that he is eligible under the terms and conditions thereof, in any pension, retirement, disability, insurance, medical service, or other employee benefit plan that is generally available to<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>all<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>employees of the Company<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>and that may be in effect from time to time during the period of Mr. Clark&#8217;s employment under the Employment Agreement.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr. Clark, 44, is a co-founder of Cable Unlimited.&#160;&#160;Mr. Clark has been an executive officer of Cables Unlimited since that company was formed in 1992, and the Chief Executive Officer and sole shareholder of Cables Unlimited since 2005.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item 9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a) Financial Statements of Businesses Acquired. The Company will provide the financial statements required by Item 9.01(a) of Form 8-K by amendment to this Current Report on Form 8-K no later than the 71st day after the filing date for this Current Report on Form 8-K.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b) Pro Forma Financial Information. The Company will provide the pro forma financial information required by Item 9.01(b) of Form 8-K by amendment to this Current Report on Form 8-K no later than the 71st day after the filing date for this Current Report on Form 8-K.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>

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<TYPE>EX-10.2
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">SINGLE TENANT COMMERCIAL LEASE</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This Single Tenant Commercial Lease (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Lease</font>&#8221;), dated as of this 15th day of June, 2011 is made and entered into by and between K &amp; K Unlimited, a New York limited liability company (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Landlord</font>&#8221;), and Cables Unlimited, Inc., a New York corporation formerly known as CUI Acquisitions, Inc. (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Tenant</font>&#8221;), based on the following facts:</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to an Agreement and Plan of Reorganization, dated as of June 6, 2011 (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Reorganization Agreement</font>&#8221;), by and among RF Industries, Ltd., a Nevada corporation (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Parent</font>&#8221;), CUI Acquisitions, Inc., a wholly owned subsidiary of Parent, Cables Unlimited, Inc., a New York corporation (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Predecessor</font>&#8221;), and Darren Clark (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Shareholder</font>&#8221;), the Predecessor has merged with, and into, CUI Acquisitions, Inc. (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Merger</font>&#8221;).&#160;&#160;The Merger was effected immediately prior to the execution and delivery of this Lease.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In connection with the Merger, CUI Acquisitions, Inc., the Tenant hereunder, has changed its name to &#8220;Cables Unlimited, Inc.&#8221;</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Predecessor has heretofore rented the Premises (as defined below) from Landlord and has conducted its business from the Premises.&#160;&#160;Tenant, as the successor to the Predecessor by virtue of the Merger, intends to continue to conduct its business from the Premises.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Termination of any Prior Agreement.&#160;&#160;&#160;</font>Effective as of the date of this Agreement, any lease, rental agreement, license, or other understanding, arrangement, or agreement, written or oral, between the Predecessor and the Landlord (any such arrangement being a &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Prior Agreement</font>&#8221;) shall terminate, without any further action or notice being required, and such termination shall not entitle Landlord to any claim of default or demand for damages or other remedies against Predecessor or Tenant.&#160;&#160;Any Prior Agreement shall be of no further force and effect and is hereby replaced in its entirety by this Lease.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Lease of Premises.&#160;&#160;</font>Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord the real property located at 3 Old Dock Road, Yaphank, New York, 11980, together with the building located thereon, and all affixed property, furniture, fixtures, and equipment currently located in the building (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Premises</font>&#8221;).&#160;&#160;The lease of the Premises includes Tenant&#8217;s exclusive right to use the parking spaces, loading docks, walkways, and other improvements on the real property on which the Premises are located.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Term.&#160;&#160;</font> The term (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Term</font>&#8221;) of this Lease is a five (5) year term that shall commence on the date of this Agreement (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Commencement Date</font>&#8221;) and shall terminate on the last day of the month in which the fifth anniversary of the Commencement Date occurs, subject to Tenant&#8217;s option to extend as described in Paragraph 21.12 (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Termination Date</font>&#8221;).&#160;&#160;The Premises shall be delivered to Tenant on the Commencement Date.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Condition of Premises.&#160;&#160;</font> Tenant acknowledges and agrees that the Premises are being delivered and leased in as-is condition; provided, however, that Landlord represents and warrants to Tenant that the existing structure (including without limitation the roof, foundations, exterior walls), and all building systems (including without limitation, the plumbing, electrical, ventilating, air conditioning, heating, and loading doors, if any) shall be (a) in good operating condition and free of any leakage; (b) in compliance with applicable laws, and (c) free of all Hazardous Material, as defined below, including, but not limited to any asbestos containing material (whether or not friable) and any lead-containing paint.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">2.3&#160; &#160;Landlord Payments.</font>&#160;&#160;Landlord shall, throughout the Term, pay all property taxes for the Premises and premiums for insurance for the building (as described in Paragraph 11.4).&#160;&#160;Landlord shall pay for (a) all capital improvements made to the Premises; (b) all costs incurred to comply with applicable laws (except if such compliance is required as a result of Tenant&#8217;s specific nature of use of the Premises, in which case Tenant shall be responsible for the costs of compliance); and (c) all costs incurred to remove or remediate Hazardous Material on the Premises (except if such removal or remediation is required as a result of the acts of Tenant or any employees or agents of Tenant, in which case Tenant shall be responsible for the costs of removal or remediation).</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">4.&#160;&#160;HAZARDOUS MATERIAL.</font>&#160;&#160;Tenant&#8217;s use of the Premises does not and will not involve the use, storage or generation of &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Hazardous Material</font>&#8221; (as defined below) in violation of any federal, state or local environmental, health or safety related law currently existing and as amended, enacted, issued or adopted in the future which is applicable to the Premises.&#160;&#160;For purposes of this Lease, the term &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Hazardous Material</font>&#8221; means any chemical, substance, material, controlled substance, object, condition, waste or combination thereof which is or may be hazardous to human health or safety or to the environment due to its radioactivity, ignitability, corrosiveness, reactivity, explosiveness, toxicity, carcinogenicity, infectiousness or other harmful or potentially harmful properties or effects, including, without limitation, petroleum and petroleum products, asbestos, radon, polychlorinated biphenyls (PCBs) and all of those chemicals, substances, materials, controlled substances, objects, conditions, wastes or combinations thereof which are now or become in the future listed, defined or regulated in any manner by any federal, state or local law based upon, directly or&#160;&#160;indirectly, such properties or effects.&#160;&#160;Hazardous Material shall not include small quantities of ordinary office and cleaning supplies.<a name="Page3"><!--EFPlaceholder--></a></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">6.&#160;&#160;ALTERATIONS.&#160;&#160;&#160;&#160;&#160;</font>Tenant, at its sole cost, may make such alterations to the Premises as are necessary and desirable for Tenant&#8217;s use of the Premises for its business purposes, upon written approval of the Landlord, which approval shall not be unreasonably withheld, conditioned, or delayed.&#160;&#160;Notwithstanding the above, alterations or improvements that do not affect the structural integrity of the building or any building systems may be made by Tenant without first obtaining Landlord&#8217;s consent, but in compliance with all applicable laws and all other provisions of this Paragraph 6.&#160;&#160;All such alterations, additions or improvements must be done in a good and workmanlike manner and diligently prosecuted to completion.&#160;&#160;Tenant shall deliver to Landlord upon commencement of such work, a copy of the permit (if one is required) with respect thereto.&#160;&#160;Tenant shall notify Landlord in writing at least ten (10) days prior to the commencement of any such work in or about the Premises and Landlord shall have the right at any time and from time to time to post and maintain notices of non-responsibility in or about the Premises.&#160;&#160;Affixed alterations made by Tenant will not be removed by Tenant at the termination of this Lease.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">11.1&#160;&#160;&#160;&#160;Indemnity.</font>&#160;&#160;Tenant hereby releases Landlord and all members, officers, managers, employees, or representatives of Landlord (collectively, the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Landlord Parties</font>&#8221;) and shall indemnify, protect defend and hold the Landlord Parties harmless from any and all claims, judgments, damages, liabilities, losses, sums paid in settlement of claims, costs and expenses (including, but not limited to, reasonable attorneys' fees and litigation costs), obligations, liens and causes of action (collectively, &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Claims</font>&#8221;), which are made by third parties, to the extent such Claims arise from Tenant&#8217;s or Tenant&#8217;s shareholders, officers, directors, employees or representatives (collectively, &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Tenant&#8217;s Parties</font>&#8221;) activities in, on or about the Premises, including, without limitation, Tenant&#8217;s breach or default of any obligation of Tenant to be performed under the terms of this Lease, the conduct of Tenant&#8217;s business, the nonobservance or nonperformance of any law, ordinance or regulation, or the negligence or misconduct of Tenant or Tenant&#8217;s Parties.&#160;&#160;The foregoing indemnity and release shall not apply in the case of injury to persons or damage to property to the extent caused by the negligence or willful misconduct of Landlord or any of the Landlord Parties.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">11.2.1&#160;&#160;&#160;&#160;&#160;Personal Property Insurance.&#160;&#160;</font>Tenant shall carry insurance covering the trade fixtures, furniture, personal property and equipment located in the Premises.<font id="TAB2" style="COLOR: black; LETTER-SPACING: 3pt">&#160;</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">11.3</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Evidence of Coverage.</font>&#160;&#160;All of the policies required to be obtained by Tenant pursuant to the provisions of Paragraph 11.2 shall be with companies licensed or admitted to transact business in New York, and maintaining during the policy term a "General Policyholders Rating" of at least B+, V, as set forth in the most current issue of "Best's Insurance Guide", or such other rating as may be required by Landlord or its lender.&#160;&#160;Upon notice from Landlord, Tenant shall add any mortgagee of Landlord as an additional insured.&#160;&#160;Tenant shall provide Landlord with certificates of insurance acceptable to Landlord issued by each of the insurance companies issuing any of the policies required pursuant to the provisions of Paragraph 11.2 and said certificates shall provide that the insurance issued thereunder shall not be altered or cancelled until after thirty (30) days' written notice to Landlord.&#160;&#160;&#8220;Claims made&#8221; policies are not permitted.&#160;&#160;Each policy shall permit the waiver in Paragraph 11.5 below.&#160;&#160;Evidence of insurance coverage shall be furnished to Landlord prior to the effective date of any new or substituted coverage.&#160;&#160;Tenant may satisfy its insurance obligations hereunder by carrying such insurance under a so-called blanket policy or policies of insurance.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">18.3&#160;&#160;&#160;&#160;Damages upon Termination. </font>If Landlord terminates this Lease pursuant to the provisions of Paragraph 18.1, then, in addition to any other rights and remedies to which Landlord may be entitled under applicable law, Landlord shall be entitled to recover from Tenant:&#160;&#160;(a) All Rent payable under this Lease by Tenant to Landlord prior to the date of termination; and (b) Tenant shall pay to Landlord, in monthly installments, on the day set forth herein for payment of Rent, any deficiency between what Landlord collects as a result of reletting the Premises (after deduction for Landlord&#8217;s actual costs in reletting the Premises); provided, however, that in lieu of monthly installments described in clause (b), Landlord may demand, as liquidated and agreed final damages, a sum equal to the amount by which the Rent for the period which otherwise would have constituted the unexpired portion of the Term exceeds the then fair and reasonable rental value of the Premises, for the same period (with both amounts being discounted to present value at a rate of interest equal to 2% below the then Base Rate) less the aggregate amount of deficiencies already collected by Landlord pursuant to the provisions of clause (b) hereof for the same period.&#160;&#160;If all or any portion of the Premises are relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed <font style="DISPLAY: inline; FONT-STYLE: italic">prima facie</font>, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">21.8&#160;&#160;&#160;&#160;&#160;Performance Under Protest.</font>&#160;&#160;If at any time a dispute shall arise as to any amount or sum of money to be paid by one party to the other under the provisions hereof, the party against whom the obligation to pay the money is asserted shall have the right to make payment &#8220;under protest&#8221; and such payment shall not be regarded as a voluntary payment, and there shall survive the right on the part of said party to institute suit for recovery of such sum.&#160;&#160;If it shall be adjudged that there was no legal obligation on the part of said party to pay such sum or any part thereof, said party shall be entitled to recover such sum or so much thereof as it was not legally required to pay under the provisions of this Lease.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Whenever any Party shall desire to give or serve any notice, demand, request, approval, disapproval or other communication, each such communication shall be in writing and shall be delivered personally, by messenger or by mail, postage prepaid, or nationally-recognized overnight courier, to the address set forth in the signature block of this Lease or by facsimile transmission.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Service of any such communication shall be deemed made on the date of actual receipt or refusal to accept delivery.&#160;&#160;Communications transmitted by facsimile transmission shall be deemed delivered upon telephonic confirmation of receipt (confirmation report from fax machine is sufficient), provided a copy is also delivered via delivery or mail.&#160;&#160;If such communication is received on a Saturday, Sunday or legal holiday, or after 5:00 p.m. (PT) it shall be deemed received on the next business day.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Any party may from time to time, by notice in writing, designate a different address to which, or a different person or additional persons to whom, all communications are thereafter to be made.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Tenant shall have the one time option to extend the term of this Lease (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Option</font>&#8221;) for one additional five (5) year term (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Option Term</font>&#8221;).&#160;&#160;To exercise the Option, Tenant shall deliver to Landlord notice of Tenant&#8217;s exercise of the Option not less than six (6) months prior to the original Termination Date.&#160;&#160;All of the terms and conditions of the Lease shall apply during the Option Term, and the Termination Date shall refer to the last day of the Option Term; provided, however, that Base Rent shall be determined as set forth in this Paragraph 21.12, and Tenant shall have no further option to extend the Term.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If Tenant exercises its Option, the Base Rent during the Option Term shall be increased (but not decreased) by the increase, if any, from the &#8220;Base Month&#8221;, as defined below, in the Consumer Price Index of the Bureau of Labor Statistics of the U.S. Department of Labor for CPI-U (All Urban Consumers) for New York-Northern New Jersey-Long Island, All Items (1982-1984 = 100), herein referred to as &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">CPI</font>&#8221;, calculated as set forth below.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The monthly Base Rent payable during the Option Term shall be calculated as follows:&#160;&#160;the Base Rent set forth in Paragraph 2.1 of this Lease shall be multiplied by a fraction, the numerator of which shall be the CPI of the calendar month which is two (2) months prior to the first day of the Option Term, and the denominator of which shall be the CPI of the calendar month which is two (2) months prior to the month in which the Commencement Date occurred (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Base Month</font>&#8221;); provided, however, the increase shall not be less than the equivalent of two percent (2%) per annum or ten percent (10%) for the Option Term from the Base Rent payable on the Commencement Date nor greater than the equivalent of six percent (6%) per annum or thirty percent (30%) for the Option Term from the Base Rent payable on the Commencement Date.&#160;&#160;The amount so calculated shall constitute the new monthly Base Rent hereunder during the Option Term.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In the event the compilation or publication of the CPI shall be transferred to any other governmental department or bureau or agency or shall be discontinued, then the index most nearly the same as the CPI shall be used to make such calculation.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Executed as of the date first above written.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">LANDLORD:</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">K &amp; K Unlimited, a New York limited liability company</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">/s/ DARREN CLARK</font></font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Darren Clark</font></font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Manager</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notice Address:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4 Gotham Court,</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mt. Sinai, New York 11766</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">TENANT:</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cables Unlimited, Inc., a New York corporation</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">/s/ JAMES DOSS</font></font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">James Doss</font></font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Vice President-Finance</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3 Old Dock Road, Yaphank,</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">New York, 11980</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">With a copy to:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">RF Industries, Ltd.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7610 Miramar Road, Building 6000</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">San Diego, CA 92126</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attn:&#160;&#160;Chief Executive Officer</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Phone (858) 549-6340</font></div>

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<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>3
<FILENAME>v226591_ex10-3.htm
<TEXT>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EMPLOYMENT AGREEMENT</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This Employment Agreement (this &#8220;Agreement&#8221;) is made as of the 15th day of June, 2011, by and between RF Industries, Ltd., a Nevada corporation (the &#8220;Corporation&#8221;), and Darren Clark (hereinafter called "Executive").</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">WITNESSETH</font>:</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS, Executive is the founder and sole shareholder of Cables Unlimited, Inc., a New York corporation; and</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS, Executive has served as the Chief Executive Officer of Cables Unlimited, Inc., a New York corporation<font style="DISPLAY: inline; FONT-SIZE: 10pt"> (&#8220;Cables Unlimited&#8221;)</font> since its formation and therefore is familiar with the business and operations of Cables Unlimited and the market in which it competes; and</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS, the Corporation, Executive, Cables Unlimited, and CUI Acquisitions, Inc., a New York corporation and a wholly-owned subsidiary of the Corporation, have entered into that certain Agreement and Plan of Reorganization, dated June 6, 2011, pursuant to which Cables Unlimited will merge with and into CUI Acquisitions, Inc. (the &#8220;Merger&#8221;).&#160;&#160;In connection with the Merger, CUI Acquisitions, Inc. will change its name to &#8220;Cables Unlimited, Inc.&#8221; and will continue the business and operations of Cables Unlimited; and</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS, as a condition to the Merger, the Corporation has required Executive to enter into this Agreement; and</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS, after the Merger, the Corporation intends to operate Cables Unlimited as a separate subsidiary and division (the &#8220;Cables Unlimited Division&#8221;) at Cables Unlimited&#8217;s current location and in substantially the same manner as currently conducted by Cables Unlimited;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties hereto agree as follows:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Employment by Corporation</font>.&#160;&#160;The Corporation hereby agrees to employ Executive to perform such duties on behalf of the Corporation as the full-time the Chief Executive Officer of the Cables Unlimited Division.&#160;&#160;This Agreement and the terms and conditions set forth herein shall only become effective upon the occurrence of the &#8220;Closing&#8221; (as defined in the Agreement<font style="DISPLAY: inline; FONT-SIZE: 10pt"> and Plan of Reorganization</font>), and shall thereupon automatically become effective as of such Closing.&#160;&#160;As the Chief Executive Officer of the Cables Unlimited Division, Executive will report to the Corporation's Chief Executive Officer and to the Corporation&#8217;s Board of Directors, and shall have such duties consistent with that of a Chief Executive Officer of a division, as such duties may from time to time be designated or assigned to Executive pursuant to the directives of the Chief Executive Officer or the Board of Directors of the Corporation.&#160;&#160;The duties of Executive shall include such services as shall reasonably be necessary (i) to continue the operations of the Cables Unlimited Division, (ii) to integrate certain of the Corporation&#8217;s operations into the operations of the Cables Unlimited Division, and (iii) to properly and efficiently operate the enhanced Cables Unlimited Division in the best interests of the Corporation.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Executive&#8217;s Acceptance of Employment</font>.&#160;&#160;Executive hereby accepts such employment and agrees that throughout the period of his employment hereunder, he will devote his full time, attention, knowledge and skills, faithfully, diligently and to the best of his ability, in furtherance of the business of both the Cables Unlimited Division and the Corporation, and he will perform the duties assigned to him pursuant to Paragraph 1 hereof, subject, at all times, to the direction and control of the Corporation&#8217;s Chief Executive Officer and Board of Directors.&#160;&#160;Executive agrees that he will do such reasonable traveling as may be required of him in the performance of his duties hereunder, including periodic trips to the Corporation&#8217;s headquarters and other offices.<a name="Page2"><!--EFPlaceholder--></a></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Executive shall at all times be subject to, observe and carry out such rules, regulations, policies, directions and restrictions as the Corporation shall from time to time establish.&#160;&#160;During the period of his employment by the Corporation, Executive agrees to be bound by the Corporation&#8217;s (i) Code of Ethics and (ii) Statement of Policy on Securities Trading, copies of which Executive hereby acknowledges he has received and read, and Executive agrees that he shall not, without the prior written approval of the Board of Directors, directly or indirectly, accept employment or compensation from or perform services of any nature for, any business enterprise other than the Corporation.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Compensation/Benefits</font>.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Corporation will pay to Executive as compensation for his services hereunder a salary of $150,000 per annum.&#160;&#160;Such salary is to be payable in equal installments in accordance with the Corporation&#8217;s normal payroll policy.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Executive shall be entitled to participate, to&#160;the extent he is eligible under the terms and conditions thereof, in any pension, retirement, disability, insurance, medical service, or other employee benefit plan which is generally available to<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>all<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>employees of the Corporation<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>and which may be in effect from time to time during the period of his employment hereunder.&#160; The Corporation shall be under no obligation to institute or continue the existence of any such employee benefit plan.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Business Expenses</font>. The Corporation shall reimburse Executive for all authorized expenses reasonably incurred by him in accordance with the Corporation&#8217;s travel and entertainment policy and procedures and any amendment thereof that the Corporation may adopt during his employment.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Vacation</font>.&#160;&#160;Executive shall be entitled to paid vacation of&#160;&#160;three (3) weeks per year, or such greater amount of vacation as is approved by the Corporation&#8217;s Board of Directors.&#160;&#160;Any such vacations are to be taken at times mutually agreeable to Executive and the Corporation&#8217;s Chief Executive Officer.&#160; Vacation time shall not be accumulated from year to year unless Executive is requested by the Board of Directors in writing to forego a vacation during any year.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Termination</font>.&#160;&#160;In addition to all other rights and remedies which the parties may have under applicable law, the Corporation may terminate this Agreement and the services of Executive, effective upon the occurrence of any of the following events:&#160;&#160;(i) a material failure by Executive to perform his obligations under this Agreement; (ii) the death of Executive or his disability for a period of three (3) consecutive months; (iii) Executive fails to follow the Corporation&#8217;s Code of Ethics or Statement of Policy on Securities Trading, and any amendments thereof that the Corporation may adopt, during his employment; or (iv) in the event that Executive shall act, whether with respect to his employment or otherwise, in a manner which is in violation of the criminal laws of the United States or any State or subdivision thereof (excluding minor violations).&#160;&#160;For purposes of this Agreement, a termination by the Corporation based on any of the foregoing events is a termination for &#8220;cause&#8221;.&#160;&#160;In the event that the Corporation terminates Executive&#8217;s employment under this Agreement for any reason during the Term other than for &#8220;cause,&#8221; the Corporation shall, concurrently with such termination, pay Executive an amount equal to the salary (based on Executive&#8217;s monthly salary at the time of such termination) Executive would have earned during the balance of the Term.&#160;&#160;If the Corporation terminates Executive&#8217;s employment with cause, or the Executive voluntarily terminates his employment, then the Corporation shall have no further obligations to Executive under this Agreement.<a name="Page3"><!--EFPlaceholder--></a></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Non-Competition</font>.&#160;&#160;In consideration of the Corporation&#8217;s entering into this Agreement:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Executive agrees that during the effectiveness of this Agreement and during the three (3) years following the termination of the Executive&#8217;s employment for any reason, without the written consent of the Corporation, he will not directly or indirectly own, manage, operate, join, control, participate in, perform any services for, invest in, or otherwise be connected with, in any manner, whether as an officer, director, employee, consultant, partner, investor or otherwise, any business entity which is engaged in any business in which the Corporation (including the Cables Unlimited Division) is currently engaged or is engaged during the Term.&#160; Nothing herein contained shall be deemed to prohibit Executive from investing his funds in securities of a company if the securities of such company are listed for trading on a national stock exchange or traded in the over-the-counter market and Executive&#8217;s holdings therein represent less than five percent (5%) of the total number of shares or principal amount of other securities of such company outstanding.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Executive agrees that Executive will not, during the Term or prior to the expiration of three (3) years following the termination of the Executive&#8217;s employment for any reason, without the written consent of the Corporation, directly or indirectly, by action alone or in concert with others, induce or influence, or seek to induce or influence any person who is engaged by the Corporation (including the Cables Unlimited Division) as an employee, agent, independent contractor or otherwise, to terminate his employment or engagement, nor shall Executive, directly or indirectly, through any other person, firm or corporation, employ or engage, or solicit for employment or engagement, or advise or recommend to any other person or entity that such person or entity employ or engage or solicit for employment or engagement, any person or entity employed or engaged by the Corporation (including the Cables Unlimited Division).</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Confidentiality Agreement.</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;As used herein, the term "Confidential Information" shall mean any and all information of the Corporation and of the Cables Unlimited Division (unless the context provides otherwise, for purposes of Paragraphs 9, 10 and 11 of this Agreement, the Cables Unlimited Division shall be deemed included within the meaning of "Corporation"), including, but not limited to, all data, compilations, programs, devices, strategies, or methods concerning or related to (i) the Corporation&#8217;s finances, financial condition, results of operations, employee relations, amounts of compensation paid to officers and employees and any other data or information relating to the internal affairs of the Corporation and its operations; (ii) the terms and conditions (including prices) of sales and offers of sales of the Corporation&#8217;s products and services; (iii) the terms, conditions and current status of the Corporation&#8217;s agreements and relationship with any customer or supplier; (iv) the customer and supplier lists and the identities and business preferences of the Corporation&#8217;s actual and prospective customers and suppliers or any employee or agent thereof with whom the Corporation communicates; (v) the trade secrets, manufacturing and operating techniques, price data, costs, methods, systems, plans, procedures, formulas, processes, hardware, software, machines, inventions, designs, drawings, artwork, blueprints, specifications, tools, skills, ideas, and strategic plans possessed, developed, accumulated or<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>acquired<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>by the Corporation; (vi) any communications between the Corporation, its officers, directors, shareholders, or employees, and any attorney retained by the Corporation for any purpose, or any person retained or employed by such attorney for the purpose of assisting such attorney in his or her representation of the Corporation; (vii) any other non-public information and knowledge with respect to the Corporation&#8217;s products, whether developed or in any stage of development by the Corporation; (viii) the abilities and specialized training or experience of others who as employees or consultants of the Corporation during the Executive&#8217;s employment have engaged in the design or development of any such products; and (ix) any other matter or thing, whether or not recorded on any medium, (a) by which the Corporation derives actual or potential economic value from such matter or thing being not generally known to other persons or entities who might obtain economic value from its disclosure or use, or (b) which gives the Corporation an opportunity to obtain an advantage over its competitors who do not know or use the same.<a name="Page4"><!--EFPlaceholder--></a></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Executive acknowledges and agrees that the Corporation is engaged in a highly competitive business and has expended, or will expend, significant sums of money and has invested, or will invest, a substantial amount of time to develop and maintain the secrecy of the Confidential Information.&#160;&#160;The Corporation has thus obtained, or will obtain, a valuable economic asset which has enabled, or will enable, it to develop an extensive reputation and to establish long-term business relationships with its suppliers and customers.&#160;&#160;If such Confidential Information were disclosed to another person or entity or used for the benefit of anyone other than the Corporation, the Corporation would suffer irreparable harm, loss and damage.&#160;&#160;Accordingly, Executive acknowledges and agrees that, unless the Confidential Information becomes publicly known through legitimate origins not involving an act or omission by Executive:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)&#160;&#160;the Confidential Information is, and at all times hereafter shall remain, the sole property of the Corporation;</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)&#160;&#160;Executive shall use his best efforts and the utmost diligence to guard and protect the Confidential Information from disclosure to any competitor, customer or supplier of the Corporation or any other person, firm, corporation or other entity; and</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)&#160;&#160;unless the Corporation gives Executive prior express written permission, during his employment and thereafter, Executive shall not use for his own benefit, or divulge to any competitor or customer or any other person, firm, corporation, or other entity, any of the Confidential Information which Executive may obtain, learn about, develop or be entrusted with as a result of Executive&#8217;s employment by the Corporation.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.3&#160;&#160;Executive also acknowledges and agrees that all documentary and tangible Confidential Information including, without limitation, such Confidential Information as Executive has committed to memory, is supplied or made available by the Corporation to the Executive solely to assist him in performing his services under this Agreement.&#160;&#160;Executive further agrees that after his employment with the Corporation is terminated for any reason:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)&#160;&#160;Executive shall not remove from the property of the Corporation and shall immediately return to the Corporation, all documentary or tangible Confidential Information in his possession, custody, or control and not make or keep any copies, notes, abstracts, summaries or other record of any type of Confidential Information; and</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><a name="Page5"><!--EFPlaceholder--></a>10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Invention Disclosure</font>. Executive agrees to disclose to the Corporation promptly and fully all ideas, inventions, discoveries, developments or improvements ("Inventions") that may be made, conceived, created or developed by him (whether such Inventions are developed solely by him or jointly with others) during his employment by the Corporation which either (i) in any way is connected with or related to the actual or contemplated business, work, research or undertakings of the Corporation or (ii) results from or is suggested by any task, project or work that he may do for, in connection with, or on behalf of the Corporation.&#160;&#160;Executive agrees that such Inventions shall become the sole and exclusive property of the Corporation and Executive hereby assigns to the Corporation all of his rights to any such Inventions.&#160;&#160;With respect to Inventions, Executive shall during the period of his employment hereunder and at any time and from time to time hereafter (a) execute all documents requested by the Corporation for vesting in the Corporation the entire right, title and interest in and to the same, (b) execute all documents requested by the Corporation for filing and prosecuting such applications for patents, trademarks and/or copyrights as the Corporation, in its sole discretion, may desire to prosecute, and (c) give the Corporation all assistance it reasonably requires, including the giving of testimony in any suit, action or proceeding, in order to obtain, maintain and protect the Corporation&#8217;s right therein and thereto.&#160;&#160;If any such assistance is required following the termination of Executive&#8217;s employment with the Corporation, the Corporation shall reimburse Executive for his lost wages or salary and the reasonable expenses incurred by him in rendering such assistance.&#160;&#160;Anything contained in this paragraph to the contrary notwithstanding, this paragraph does not apply to an Invention for which no equipment, supplies, facilities, or trade secret information of the Corporation was used and which was developed entirely on the Executive&#8217;s own time, unless the Invention relates: (i) to the business of the Corporation, (ii) to the Corporation&#8217;s actual or demonstrably anticipated research or development, or (iii) the Invention results from any work performed by the Executive for the Corporation.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Remedies.</font>&#160;&#160;&#160;Executive acknowledges and agrees that the business of the Corporation is highly competitive and that the provisions of Paragraphs 8, 9 and 10 are reasonable and necessary for the protection of the Corporation and that any violation of such covenants would cause immediate, immeasurable and irreparable harm, loss and damage to the Corporation that is not adequately compensable by a monetary award.&#160;&#160;Accordingly, the Executive agrees, without limiting any of the other remedies available to the Corporation, that any violation of said covenants, or any one of them, may be enjoined or restrained by any court of competent jurisdiction, and that any temporary restraining order or emergency, preliminary or final injunctions may be issued by any court of competent jurisdiction, without notice and without bond.&#160;&#160;In the event any proceedings are commenced by the Corporation against Executive for any actual or threatened violation of any of said covenants and if the Corporation prevails in such litigation, then, Executive shall be liable to the Corporation for, and shall pay to the Corporation, all costs and expenses of any kind, including reasonable attorneys' fees, which the Corporation may incur in connection with such proceedings.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mt. Sinai, New York 11766</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Either of the parties hereto may at any time and from time to time change the address to which notice shall be sent hereunder by notice to the other party given as provided herein.&#160;&#160;The date of the giving of any notice hereunder shall be the date delivered or if sent by mail, shall be the date of the posting of the mail.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Non-Assignability</font>.&#160;&#160;Neither this Agreement nor the right to receive any payments hereunder may be assigned by Executive.&#160; This Agreement shall be binding upon Executive and inure to the benefit of his heirs, executors and administrators and be binding upon the Corporation and inure to the benefit of its successors and assigns.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">15.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Choice of Law And Forum</font>.&#160;&#160;This Agreement shall be governed, interpreted and construed under the laws of the State of New York without regard to its conflict of law principles.&#160;&#160;The parties agree that any dispute or litigation arising in whole or in part hereunder may, at the option of the Corporation, be litigated in any state or Federal court of competent subject matter jurisdiction sitting in San Diego County, California, to the jurisdiction of which and venue in which Executive irrevocably consents.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">16.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Waiver</font>.&#160;&#160;No course of dealing nor any delay on the part of any party in exercising any rights hereunder shall operate as a waiver of any such rights.&#160; No waiver of any default or breach of this Agreement shall be deemed a continuing waiver or a waiver of any other breach or default.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">17.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Severability</font>.&#160;&#160;If any provision of this Agreement, including any paragraph, sentence, clause or part thereof, shall be deemed contrary to law or invalid or unenforceable in any respect by a court of competent jurisdiction, the remaining provisions of such paragraph, sentence, clause or part thereof shall not be affected, but shall, subject to the discretion of such court, remain in full force and effect and any invalid and unenforceable provisions shall be deemed, without further action on the part of the parties hereto, modified, amended and limited to the extent necessary to render the same valid and enforceable.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">18.&#160;&#160;&#160; &#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Survival at Termination</font>.&#160;&#160;The termination of Executive&#8217;s employment hereunder shall not affect his obligations to the Corporation hereunder which by the nature thereof are intended to survive any such termination including, without limitation, Executive&#8217;s obligations under Paragraphs 8, 9 and 10.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">RF INDUSTRIES, LTD.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Howard F. Hill</font></div>
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