<SEC-DOCUMENT>0001144204-14-059612.txt : 20141006
<SEC-HEADER>0001144204-14-059612.hdr.sgml : 20141006
<ACCEPTANCE-DATETIME>20141006093248
ACCESSION NUMBER:		0001144204-14-059612
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20141006
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20141006
DATE AS OF CHANGE:		20141006

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:		141141844

	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>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v390617_8-k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</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: center"><B>FORM 8-K </B></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: center">CURRENT 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: center">Pursuant to Section&nbsp;13 or 15(d) of
the Securities Exchange Act of 1934</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr>
    <TD STYLE="vertical-align: top; text-align: center; width: 49%">Date of Report (date of earliest event reported): </td>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</td>
    <TD STYLE="vertical-align: top; width: 49%">October 6, 2014</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

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<tr style="vertical-align: top">
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <TD STYLE="width: 60%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-weight: bold">RF INDUSTRIES, LTD.</td>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">(Exact name of registrant as specified in its charter)</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Nevada&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(State or
Other Jurisdiction<BR>
of Incorporation)&nbsp;</P></TD>
    <TD STYLE="width: 33%; padding-right: 0; padding-left: 0; padding-bottom: 0; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">0-13301&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Commission File Number)</P></TD>
    <TD STYLE="width: 33%; padding-right: 0; padding-left: 0; padding-bottom: 0; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">88-0168936&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(I.R.S. Employer<BR>
        Identification No.)</P></TD></TR>
</TABLE>


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

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">7610 Miramar Road, Bldg. 6000</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">San Diego, California 92126-4202</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of Principal Executive Offices)</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: center">(858) 549-6340</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s Telephone Number)&nbsp;</P></TD></TR>
</TABLE>


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




<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 21%; color: black">

<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">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">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="width: 4%; font-size: 10pt"><font style="font: 10pt Wingdings">&uml;</font></td>
    <td style="font-size: 10pt"><font style="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <td style="width: 4%; font-size: 10pt"><font style="font: 10pt Wingdings">&uml;</font></td>
    <td style="font-size: 10pt"><font style="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font></td></tr>
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<tr style="vertical-align: top">
    <td style="width: 4%; font-size: 10pt"><font style="font: 10pt Wingdings">&uml;</font></td>
    <td style="font-size: 10pt"><font style="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <td style="width: 4%; font-size: 10pt"><font style="font: 10pt Wingdings">&uml;</font></td>
    <td style="font-size: 10pt"><font style="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font></td></tr>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 5.02</B></TD><TD STYLE="text-align: justify"><B>Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October 6, 2014, RF Industries, Ltd.
(&ldquo;we,&rdquo; &ldquo;us,&rdquo; &ldquo;our&rdquo; or the &ldquo;Company&rdquo;) announced that the Company has hired Johnny
Walker to be the Company&rsquo;s new President, effective as of October 6, 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; text-indent: 0.5in">Under an Employment Agreement that we have
entered into with Mr. Walker (&ldquo;Employment Agreement&rdquo;), we agreed to pay Mr. Walker an annual salary of $250,000. As
our President, Mr. Walker is also entitled to a year-end incentive bonus targeted at 50% of his base salary. Effective as of October
6, 2014 (the date of Mr. Walker&rsquo;s employment), we granted Mr. Walker a stock option to purchase 100,000 shares of our common
stock (the &ldquo;Option&rdquo;), which Option will have an exercise price equal to the closing price of such stock on that date.
Provided that he is still employed with us on the following dates, the Option will vest as follows: (i) 10,000 shares shall be
vest as of the effective date of the Employment Agreement, and (ii) 10,000 shares shall vest on each of the next nine anniversaries
of the effective date of the Employment Agreement.</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; text-indent: 0.5in">Either party can terminate the Employment
Agreement at any time, provided, however, that if we terminate Mr. Walker&rsquo;s employment without cause (as defined in the Employment
Agreement), the Company is obligated to pay Mr. Walker an amount equal to the salary that would have been paid during the balance
of the term. The Employment Agreement expires on December 31, 2015. If, within six months immediately preceding a Change in Control
(as defined in the Employment Agreement), Mr. Walker&rsquo;s employment is terminated by us for any reason other than cause, then
Mr. Walker will receive a cash payment in an amount equal to 12 month&rsquo;s salary (based on Mr. Walker&rsquo;s base salary at
the time of such termination), plus payments for all accrued and unused vacation time.</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; text-indent: 0.5in">Mr. Walker has extensive experience in the
communications and wireless industries. Most recently, from 1999 to 2014, he served as the Chief Executive Officer and Chief Financial
Officer of Hutton Communications, a major distributor of commercial wireless communications and related equipment. Hutton Communications
has been one of the Company&rsquo;s distributors for over 20 years. From 1993 to 1998, Mr. Walker was the Chief Financial Officer
and Chief Operating Officer at River Oaks Furniture. From 1990 to 1993, he was the CEO of Profit Partners International, a court
appointed receiver for the rehabilitation and liquidation of troubled Savings and Loans institutions in the State of Texas. From
1984 to 1990, Mr. Walker was the Chief Financial Officer and Chief Operating Officer of Tony Lama. From 1979 to 1983, Mr. Walker
was a partner-in-charge of the Haskins &amp; Sells (now Deloitte &amp; Touche) offices in St. Louis, Missouri. Previously, Mr.
Walker was a Partner of Haskins &amp; Sells in Dallas, Texas from 1970 to 1979.</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; text-indent: 0.5in">Mr. Walker is a CPA and studied Accounting
and Finance at Texas Tech University. He received a Bachelor of Business Administration Degree in Accounting from Texas A&amp;M
Commerce and a Masters of Business and Science degree from Texas Tech University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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: 0.75in; text-align: left"><B>Item 8.01</B></TD><TD STYLE="text-align: justify"><B>Other Events</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October 6, 2014, the Company issued a
press release announcing Mr. Walker&rsquo;s appointment. A copy of the press release is furnished as Exhibit 99.1 hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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: 0.75in; text-align: left"><B>Item 9.01</B></TD><TD STYLE="text-align: justify"><B>Financial Statements and Exhibits</B></TD>
</TR></TABLE>

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

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(d)</TD><TD STYLE="text-align: justify">Exhibits</TD>
</TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 0.5in">
<tr style="vertical-align: top">
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding: 0; font-size: 10pt; text-indent: 0"><font style="font-size: 10pt"><b>Exhibit No.</b></font></td>
    <TD STYLE="width: 2%; padding: 0; font-size: 10pt; text-align: center; text-indent: 0">&nbsp;</td>
    <TD STYLE="width: 88%; border-bottom: Black 1pt solid; padding: 0; font-size: 10pt; text-align: center; text-indent: 0"><font style="font-size: 10pt"><b>Description</b></font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">10.1&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P></td>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</td>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Employment Agreement, effective October 13, 2014 (or
sooner), by and among RF Industries, Ltd. and Johnny Walker.</P></td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center">99.1</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Press Release issued by the Company on October 6, 2014.&nbsp;</TD></TR>
</table>
<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; text-indent: 0.5in"></P>

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<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; text-align: center">SIGNATURES</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-indent: 0.5in">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-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></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: 50%; padding: 0; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">October 6, 2014</FONT></TD>
    <TD NOWRAP STYLE="width: 1%; padding: 0; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">By:&nbsp;</FONT></TD>
    <TD STYLE="width: 49%; padding: 0; font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Howard Hill</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">Howard Hill</P>

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

</TD></TR>
</TABLE>


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

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

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



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

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v390617_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

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



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

<P STYLE="margin: 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EMPLOYMENT AGREEMENT</B></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; text-indent: 0.5in">This Employment Agreement
(this &ldquo;Agreement&rdquo;) is entered into on October 13, 2014 (or sooner) by and between RF Industries, Ltd., a Nevada corporation
(the &ldquo;Corporation&rdquo;), and Johnny Walker (hereinafter called &quot;Executive&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-top: 0pt; margin-bottom: 0pt; text-align: center">&#9;<U>W I T N E S S E T H</U>:</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: 0.5in">WHEREAS, the Corporation
desires to employ Executive as the Corporation&rsquo;s President under the terms of this new Agreement, and Executive is willing
to accept such employment on the terms and subject to the conditions hereinafter set forth;</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">NOW, THEREFORE, in
consideration of the mutual covenants hereinafter set forth, the parties hereto 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&#9;<U>Employment
by Corporation</U>. The Corporation hereby agrees to employ Executive as the Corporation&rsquo;s full-time President. As President,
Executive will report to the Chief Executive Officer, and shall have such duties consistent with that of a President that 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.</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">2. &#9;<U>Executive&rsquo;s
Acceptance of Employment</U>. 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 the Corporation and companies under its control (its &ldquo;Affiliates&rdquo;), he will perform
the duties assigned to him pursuant to Section 1 hereof, subject, at all times, to the direction and control of the Board of Directors,
and he will do such reasonable traveling as may be required of him in the performance 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">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. During the period of his employment by the Corporation, Executive agrees to be bound by the
Corporation&rsquo;s Code of Ethics and any amendments adopted thereto, 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
and its Affiliates.</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">3.&#9;<U>Term</U>.
Executive shall be employed for a term ending on December 31, 2015 (the &ldquo;Term&rdquo;), unless his employment is terminated
prior thereto pursuant to the provisions hereof. This Agreement shall automatically expire on December 31, 2015 and shall not be
extended or renewed except in a writing signed by an authorized officer of the Corporation. Executive hereby acknowledges and agrees
that his employment by the Corporation, if any, beyond the expiration date of this Agreement shall be terminable by either party
at will and shall not, under any circumstances, be deemed to expressly or impliedly renew the terms 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: 0.5in">4. &#9;<U>Compensation/Bonus/Options/Benefits</U>.</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: 1in">4.1&#9;The Corporation
will pay to Executive as compensation for his services hereunder a salary (the &ldquo;Base Salary&rdquo;) of $250,000 per annum,
or such greater amount as the Board of Directors of the Corporation shall from time to time determine and confirm in writing. Any
increase shall become effective for future salary payments and shall not be retroactive. Such salary is to be payable in equal
installments in accordance with the Corporation&rsquo;s normal payroll policy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.2&#9;Commencing with
the fiscal year ending October 31, 2015, and for each fiscal year thereafter while this Agreement is in effect, Executive shall
participate in an annual bonus plan of the Corporation pursuant to which Executive&rsquo;s target bonus opportunity shall be fifty
percent (50%) of Executive&rsquo;s Base Salary (the &ldquo;Target Bonus&rdquo;). The actual bonus paid may be higher or lower than
the Target Bonus for over-or under-achievement of Corporation and individual objectives as determined by the Board of Directors
or Compensation Committee of the Board. The Target Bonus will be subject to annual adjustment by the Board or the Compensation
Committee of the Board, in its sole discretion; provided, however, that the percentage of Executive&rsquo;s Target Bonus may not
be decreased without Executive&rsquo;s consent. Any bonus earned by Executive for any fiscal year shall be paid to him as soon
as reasonably practicable after the end of the year for which it is earned, but in no event later than 90 days following the end
of the fiscal year for which it is earned. Executive shall not be entitled to any bonus payment for the fiscal year ending October
31, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.3&#9;On the effective
date of this Agreement, the Corporation shall grant Executive a stock option to purchase one hundred thousand (100,000) shares
of the Corporation&rsquo;s common stock at an exercise price equal to the closing price of such stock on the date of grant (the
&ldquo;Option&rdquo;). The shares underlying the Option shall vest as follows: (i) 10,000 shares shall be vested as of the effective
date of this Agreement, and (ii) 10,000 shares shall vest on each of the next nine anniversaries of the effective date of this
Agreement, provided that the Executive is still employed with the Corporation on each such date. To the extent legally permitted,
the Option shall be an incentive stock option. The Option shall have a term of ten (10) years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.4&#9;Executive shall
be entitled to participate, to 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<B> </B>all<B> </B>employees of the Corporation<B>
</B>and which may be in effect from time to time during the period of his employment hereunder.&nbsp; The Corporation shall be
under no obligation to institute or continue the existence of any such employee benefit plan. In addition to the employee benefits
otherwise available to the Corporation&rsquo;s employees, during the Term, Executive shall continue to be entitled to the life
insurance policy and disability insurance policy, if any, that the Corporation maintained for Executive prior to the execution
of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&#9;<U>Business Expenses</U>.
The Corporation shall reimburse Executive for all authorized expenses reasonably incurred by him in accordance with the Corporation&rsquo;s
travel and entertainment policy and procedures and any amendment thereof that the Corporation may adopt during his employment.</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">6.&#9;<U>Vacation</U>.
Executive shall be entitled to paid vacation of two (2) weeks per year (pro-rated for employment periods of less than one year),
or such greater amount of vacation as is approved in writing by the Board of Directors. Any such vacations are to be taken at times
mutually agreeable to Executive and the Board of Directors. Vacation time may be accumulated from year to year, provided that the
maximum amount of vacation that may be accumulated at any time shall not exceed 6 weeks.</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">7.&#9;<U>Termination</U>.</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">&#9;7.1&#9;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: (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&rsquo;s Code of Ethics, 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). For purposes of this Agreement, a termination by the Corporation based on any of the foregoing events is a termination
for &ldquo;cause&rdquo;. In the event that the Corporation terminates Executive&rsquo;s employment under this Agreement during
the Term for any reason other than for &ldquo;cause,&rdquo; the Corporation shall, concurrently with such termination, pay Executive
an amount equal to the salary that would have been paid to Executive during the balance of the Term. If the Corporation terminates
Executive&rsquo;s employment with cause, or the Executive voluntarily terminates his employment, then the Corporation shall have
no further obligations to Executive under this Agreement after 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: 0.5in"></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></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: 0.5in">&#9;7.2&#9;If Executive
terminates his employment under this Agreement for Good Reason, Executive shall be entitled to severance compensation in the form
of continuation of Base Salary during the balance of the Term and, if the Corporation is then providing medical and dental insurance,
the Corporation will continue to cover the cost of such medical and dental insurance for the balance of the Term. As a condition
to Executive&rsquo;s right to receive continuation of salary and other benefits pursuant to this Section 7.2:</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; text-indent: 0.5in">&#9;7.2.1&#9;If requested
by the Corporation, Executive must execute and deliver to the Corporation a Release; 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; text-align: justify; text-indent: 0.5in">&#9;7.2.2&#9;Executive
must not breach any of his covenants and agreements under Sections 8, 9 and 10 of this Agreement, which continue following termination
of his employment.</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">&#9;7.3&#9;Executive
shall receive the Change of Control Payment if, within six (6) months after a Change of Control, (i) Executive terminates this
Agreement for Good Reason, or (ii) Executive&rsquo;s employment under this Agreement is terminated by the Corporation other than
for cause.</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">8.&#9;<U>Non-Competition</U>.
In consideration of the Corporation&rsquo;s entering into 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: 1in">8.1&#9;Executive agrees
that during the effectiveness of this Agreement 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 or any
of its Affiliates is currently engaged or is engaged at the termination of this Agreement.&nbsp; 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&rsquo;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">8.2&#9;Executive agrees
that Executive will not, during the term hereof or prior to the expiration of two (2) years following the termination of the Executive&rsquo;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 or any of its Affiliates
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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.&#9;<U>Confidentiality
Agreement.</U></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: 1in">9.1&#9;As used herein,
the term &quot;Confidential Information&quot; shall mean any and all information of the Corporation and of its Affiliates (for
purposes of Sections 9, 10 and 11 of this Agreement, the Corporation&rsquo;s Affiliates shall be deemed included within the meaning
of &quot;Corporation&quot;), including, but not limited to, all data, compilations, programs, devices, strategies, or methods concerning
or related to (i) the Corporation&rsquo;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&rsquo;s products
and services; (iii) the terms, conditions and current status of the Corporation&rsquo;s agreements and relationship with any customer
or supplier; (iv) the customer and supplier lists and the identities and business preferences of the Corporation&rsquo;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<B> </B>acquired<B> </B>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&rsquo;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&rsquo;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9.2&#9;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. 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. 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. Accordingly, Executive acknowledges and agrees that, unless the
Confidential Information becomes publicly known through legitimate origins not involving an act or omission by Executive:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">(i) the Confidential Information
is, and at all times hereafter shall remain, the sole property of the Corporation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">(ii) 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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">(iii) 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&rsquo;s employment by the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9.3 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. Executive further agrees that after his employment with the Corporation is terminated
for any reason:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">(i) 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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">(ii) Executive shall immediately
return to the Corporation any and all other property of the Corporation in his possession, custody or control, including, without
limitation, any and all keys, security cards, passes, credit cards and marketing literature.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.&#9;<U>Invention
Disclosure</U>. Executive agrees to disclose to the Corporation promptly and fully all ideas, inventions, discoveries, developments
or improvements (&quot;Inventions&quot;) 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. 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. 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&rsquo;s right therein and thereto.
If any such assistance is required following the termination of Executive&rsquo;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.
Anything contained in this paragraph to the contrary notwithstanding, this paragraph does not apply to an Invention or Intellectual
Material for which no equipment, supplies, facilities, or trade secret information of the Corporation was used and which was developed
entirely on the Executive&rsquo;s own time, unless the Invention or Intellectual Material relates: (i) to the business of the Corporation,
(ii) to the Corporation&rsquo;s actual or demonstrably anticipated research or development, or (iii) the Invention or Intellectual
Material results from any work performed by Executive for the Corporation.</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">11.&#9;<U>Remedies.</U>
Executive acknowledges and agrees that the business of the Corporation is highly competitive and that the provisions of Sections
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 not adequately compensable by a monetary award.
Accordingly, 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. 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.</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>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></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: 0.5in">12.&#9;<U>Definitions</U>.
Whenever used in this Agreement, the following capitalized terms shall have the meanings set forth in this Section 12, certain
other capitalized terms being defined elsewhere in 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">&quot;<U>Change in
Control</U>&quot; means the occurrence of any of the following during the Term:</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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&#9;Any
&quot;Person&quot; or &quot;Group&quot; (as such terms are defined in Section 13(d) of the Securities Exchange Act of 1934 (the
&quot;Exchange Act&quot;) and the rules and regulations promulgated thereunder) is or becomes the &quot;Beneficial Owner&quot;
(within the meaning of Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Corporation, or of any
entity resulting from a merger or consolidation involving the Corporation, representing more than fifty percent (50%) of the combined
voting power of the then outstanding voting securities of the Corporation or such entity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&#9;The
consummation of (x) a merger, consolidation or reorganization to which the Corporation is a party, whether or not the Corporation
is the Person surviving or resulting therefrom, or (y) a sale, assignment, lease, conveyance or other disposition of all or substantially
all of the assets of the Corporation, in one transaction or a series of related transactions, to any Person, where any such transaction
or series of related transactions referred to in clause (x) or clause (y) above in this subparagraph (ii) (a &quot;Transaction&quot;)
does not otherwise result in a &quot;Change in Control&quot; pursuant to subparagraph (i) of this definition of &quot;Change in
Control&quot;; provided, however, that no such Transaction shall constitute a &quot;Change in Control&quot; under this subparagraph
(ii) if the Persons who were the stockholders of the Corporation immediately before the consummation of such Transaction are the
Beneficial Owners, immediately following the consummation of such Transaction, of fifty percent (50%) or more of the combined voting
power of the then outstanding voting securities of the Person surviving or resulting from any merger, consolidation or reorganization
referred to in clause (x) above in this subparagraph (ii) or the Person to whom the assets of the Corporation are sold, assigned,
leased, conveyed or disposed of in any transaction or series of related transactions referred in clause (y) above in this subparagraph
(ii), in substantially the same proportions in which such Beneficial Owners held voting stock in the Corporation immediately before
such Transaction or series of related transactions.</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: 0.5in">&ldquo;<U>Change of
Control Payment</U>&rdquo; means a cash payment in an amount equal to 12 month&rsquo;s salary (based on Executive&rsquo;s Base
Salary at the time of such termination), plus payment for all accrued and unused vacation time.</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: 0.5in">&quot;<U>Good Reason</U>&quot;
means the occurrence without Executive&rsquo;s express written consent, before or after the occurrence of a Change in Control,
of any of the following:</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 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&#9;The
Corporation reduces Executive&rsquo;s Base Salary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&#9;The
Corporation requires Executive to change the location of Executive&rsquo;s work office by more than 30 miles from the location
of the Corporation&rsquo;s current principal office in San Diego, California.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&#9;The
Corporation reduces Executive&rsquo;s responsibilities or directs Executive to report to a person of lower rank or responsibilities.</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"></P>

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Release</U>&rdquo;
means a written release, in a form and substance satisfactory to the Corporation, of any and all claims against the Corporation
and all directors and officers of the Corporation with respect to all matters arising out of Executive&rsquo;s employment by the
Corporation, or the termination thereof, except for: (a) claims for entitlements under the terms of this Agreement or plans or
programs of the Corporation in which Executive has accrued a benefit, and (b) claims for indemnification under the articles of
incorporation or bylaws of the Corporation, under any indemnification agreement between the Corporation and Executive, or under
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: 0.5in">13.&#9;<U>Entire Agreement</U>.
This Agreement constitutes the entire agreement of the parties hereto with respect to the matters set forth herein and no amendment
or modification hereof shall be valid or binding unless made in writing and signed by both parties hereto.</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">14.&#9;<U>Notices</U>.
Any notice, required, permitted or desired to be given pursuant to any of the provisions of this Agreement shall be deemed to have
been sufficiently given or served for all purposes if delivered in person or sent by certified mail, return receipt requested,
postage and fees prepaid as follows:</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">if to the Corporation
at:</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: 1in">RF Industries, Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7610 Miramar Road, Building
6000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">San Diego, CA 92126</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Attention: Chief Financial
Officer</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: 0.5in">and, if to 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: 1in">Johnny Walker</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2217 Ravinia Drive,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Arlington, Texas 76012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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. 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.</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">15.&#9;<U>Non-Assignability</U>.
Neither this Agreement nor the right to receive any payments hereunder may be assigned by Executive.&nbsp; 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.</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">16.&#9;<U>Choice of
Law And Forum</U>. This Agreement shall be governed, interpreted and construed under the laws of the State of California without
regard to its conflict of law principles. The parties agree that any dispute or litigation arising in whole or in part hereunder
shall, 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.</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">17.&#9;<U>Waiver</U>.
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.&nbsp; 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.</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>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">18.&#9;<U>Severability</U>.
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.</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">19.&#9;<U>Survival
at Termination</U>. The termination of Executive&rsquo;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&rsquo;s
obligations under Sections 8, 9 and 10.</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>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed effective as of the date first above set forth.</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">&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">&nbsp;</P>

<TABLE CELLSPACING="1" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">RF INDUSTRIES, LTD.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.5in; text-indent: -0.5in"><FONT STYLE="font-size: 10pt">EXECUTIVE:</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 42%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-bottom: 1pt; padding-left: 0.5in; text-indent: -0.5in">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">/s/ Howard Hill</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.5in; text-indent: -0.5in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Johnny Walker</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Howard Hill</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Johnny Walker</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Its:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">President/CEO</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</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">&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"></P>

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



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<FILENAME>v390617_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

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



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></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 rowspan="3" style="font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font><img src="image_001.jpg" alt="" style="height: 97px; width: 166px"></td>
    <td style="font-size: 10pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt"><font style="font: 18pt Times New Roman, Times, Serif; color: #990033"><b><i>FOR IMMEDIATE RELEASE</i></b></font></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt">&nbsp;</td>
    <td>
        <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; text-align: right">Howard Hill&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">CEO&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">(858) 549-6340&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><font style="color: blue"><u>rfi@rfindustries.com</u></font>&nbsp;</P></td>
    <td style="font-size: 10pt; text-align: right">&nbsp;</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><b>Investor Contact:</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Robert Jacobs&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Jacobs Communications</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">(310) 927 3108&nbsp;&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><font style="color: blue"><u>robert.jacobs@jacobscon.com</u></font></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <td colspan="4" style="font-size: 18pt; text-align: right">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: center"><B>Johnny Carl Walker Appointed
President of RF Industries</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify; text-indent: 20.7pt"><B>SAN
DIEGO, CA,</B> October 6, 2014 . . . <B>RF INDUSTRIES, LTD, (NASDAQ:RFIL)</B> today announced that it has appointed Johnny Carl
Walker as President of RF Industries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify; text-indent: 20.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify; text-indent: 20.7pt">&quot;We
have worked with Johnny for years and know that he will be an excellent fit for our Company. In addition to his 15 years in the
wireless industry, his experience in manufacturing, mergers and acquisitions and accounting expertise will support our strategy
for growth in the coming years&quot;, said Howard Hill, Chief Executive Officer of RF Industries.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify; text-indent: 20.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify; text-indent: 20.7pt">Mr.
Walker was most recently CEO and CFO of Hutton Communications from 1999 to 2014, where he and his team led this wireless company
to overall profitability during his tenure, multiple acquisitions and was instrumental in the development of a private label line
of wireless accessories. Previous to joining Hutton, Mr. Walker was CFO and COO at River Oaks Furniture from 1993 to 1998, where
he led the acquisition team and streamlined manufacturing operations. From 1990 to 1993, he was CEO of Profit Partners International,
a court appointed receiver for the rehabilitation and liquidation of troubled Savings and Loans institutions in the state of Texas.
Prior to joining Tony Lama in 1984, where he was CFO and COO involved in the reorganization of Tony Lama including mergers and
acquisitions, he was a Partner at Haskins &amp; Sells (Deloitte &amp; Touche) in Dallas, Texas involved extensively with mergers
and acquisitions and was subsequently appointed Partner-in-charge of the Haskins &amp; Sells St. Louis, Missouri office.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify; text-indent: 20.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify; text-indent: 20.7pt">Mr.
Walker, a CPA (inactive), studied Accounting and Finance at Texas Tech, received his BBA at Texas A&amp;M Commerce and his MBS
at Texas Tech.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify"><B>About RF Industries</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify">RF Industries is a leading
designer and manufacturer of innovative interconnect products and complex cable assemblies across diversified, high growth markets
including wireless carriers &amp; infrastructure, medical and industrial. The Company's products include <FONT STYLE="color: blue"><U>RF
connectors</U></FONT>, <FONT STYLE="color: blue"><U>coaxial and custom cable assemblies</U></FONT>, <FONT STYLE="color: blue"><U>fiber
optic cables</U></FONT>, <FONT STYLE="color: blue"><U>wiring harnesses </U></FONT>and <FONT STYLE="color: blue"><U>medical wiring</U></FONT>.
The Company's connectivity products are used throughout the growing and evolving wireless infrastructure. The Company has reported
20 consecutive years of profitability and is headquartered in San Diego, California with operations in Las Vegas, Nevada and Yaphank,
New York. Please visit the RF Industries website at <FONT STYLE="color: blue"><U>www.rfindustries.com</U></FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: center">&nbsp;&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.4in; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>7610 Miramar Road, San Diego, CA
92126-4202 &#9679; (858) 549-6340 &#9679; (800) 233-1728 &#9679; FAX (858) 549-6345</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>E-mail: rfi@rfindustries.com &#9679;
Internet: <FONT STYLE="color: blue"><U>www.rfindustries.com</U></FONT></B></P>



<P STYLE="margin: 0">&nbsp;</P>

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

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