<SEC-DOCUMENT>0001144204-15-072820.txt : 20151224
<SEC-HEADER>0001144204-15-072820.hdr.sgml : 20151224
<ACCEPTANCE-DATETIME>20151224132919
ACCESSION NUMBER:		0001144204-15-072820
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20151223
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:		20151224
DATE AS OF CHANGE:		20151224

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:		151307859

	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>v427837_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">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-top: 0pt; margin-bottom: 0pt; 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 style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: center">Date of Report (date of earliest event reported): </td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">December 23, 2015</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 20%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center; font-weight: bold; width: 60%">RF INDUSTRIES, LTD.</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 20%">&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>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 33%; text-align: center">Nevada</TD>
    <TD STYLE="width: 34%; text-align: center">0-13301</TD>
    <TD STYLE="width: 33%; text-align: center">88-0168936</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">(State or Other Jurisdiction</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD STYLE="text-align: center">(I.R.S. Employer</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">of Incorporation)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Identification No.)</TD></TR>
</TABLE>

<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">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)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR> &nbsp;&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">
<tr style="vertical-align: top">
    <td style="width: 4%; font-size: 10pt"><font style="font-family: Wingdings; font-size: 10pt">&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>

<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: 4%; font-size: 10pt"><font style="font-family: Wingdings; font-size: 10pt">&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>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 4%; font-size: 10pt"><font style="font-family: Wingdings; font-size: 10pt">&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>

<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: 4%; font-size: 10pt"><font style="font-family: Wingdings; font-size: 10pt">&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>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&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: 1in; 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 December 23, 2015, RF Industries, Ltd.
(the &ldquo;Company&rdquo;) entered into a new, one-year employment agreement (the &ldquo;2016 Agreement&rdquo;) with each of Johnny
Walker, the Company&rsquo;s Chief Executive Officer, Mark Turfler, the Company&rsquo;s Chief Financial Officer, and Darren Clark
as the President of the Company&rsquo;s Cables Unlimited, Inc. subsidiary. The employment agreements will become effective January
1, 2016, following the expiration of the 2015 employment agreements. The salaries, bonuses and other financial terms of the 2016
Agreements are the same as those currently in effect for each of these three executive officers.</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">The principal provisions of the foregoing
three new employment agreements are as follows: The term of each of the employment agreements continues through December 31, 2016,
subject to earlier termination as provided in the employment agreements. Under the employment agreements, Mr. Walker is entitled
to receive an annual base salary of $250,000, Mr. Turfler is entitled to an annual base salary of $170,000, and Mr. Clark is entitled
to an annual base salary of $150,000. In addition, Mr. Walker and Mr. Clark may earn an annual, year-end bonus of up to fifty percent
(50%) of their respective base salaries, subject to meeting certain quantitative and qualitative targets, and Mr. Turfler may earn
an annual, year-end bonus of up to forty percent (40%) of his base salary, subject to meeting certain qualitative targets. Each
of the executive officers also is entitled to participate in any pension, retirement, disability, insurance, medical service, or
other employee benefit plan that is generally available to all employees of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event of a Change of Control (as
defined in their employment agreements), Mr. Walker and Mr. Turfler are entitled to receive cash payment in an amount equal to
twelve (12) months&rsquo; salary (based on the executive officer&rsquo;s base salary at the time of such termination), plus payment
for all accrued and unused vacation time. If a Change of Control occurs and if, within six (6) months after the Change of Control,
Mr. Clark&rsquo;s employment is terminated without cause or Mr. Clark terminates his employment agreement for Good Reason (as defined
in his employment agreement), Mr. Clark will be entitled to receive a cash payment equal to six (6) months of his base salary.
On October 6, 2014, Mr. Walker was granted a nine-year stock option to purchase up to 100,000 shares of the Company&rsquo;s common
stock. Upon a Change of Control, all of the unvested shares under that 100,000-share stock option will, upon the Change of Control,
become fully vested.</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: 1in; 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>

<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: 0.5in"></TD><TD STYLE="width: 0.5in; 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" ALIGN="RIGHT" STYLE="font: 10pt Times New Roman, Times, Serif; width: 92%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; width: 15%"><font style="font-size: 10pt"><b>Exhibit No.</b></font></td>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; width: 2%">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center; width: 75%"><font style="font-size: 10pt"><b>Description</b></font></td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">10.1</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P></td>
    <TD STYLE="font-size: 10pt">&nbsp;</td>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Employment Agreement, dated December 23, 2015, by and
among RF Industries, Ltd. and Johnny Walker.</P></td></tr>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.2</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>Employment Agreement, dated December 23, 2015, by and
among RF Industries, Ltd. and Mark Turfler.&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><font style="font-size: 10pt">10.3</font></td>
    <TD STYLE="font-size: 10pt">&nbsp;</td>
    <TD STYLE="font-size: 10pt"><font style="font-size: 10pt">Employment Agreement, dated December 23, 2015, by and among RF Industries, Ltd. and Darren Clark</font></td></tr>
</table><BR STYLE="clear: both">
<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">&nbsp;</P>

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

<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: 51%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 24, 2015</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Mark Turfler&#9;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mark Turfler</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer</FONT></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>

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

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v427837_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0"></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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT 10.1</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-top: 0pt; margin-bottom: 0pt; 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 December 23, 2015 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>WITNESSETH</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, Executive
currently serves as the President and Chief Executive Officer of the Corporation pursuant to a written employment agreement between
the Corporation and Executive that expires on December 31, 2015; 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">WHEREAS, the Corporation
desires to employ Executive as the Corporation&rsquo;s President and Chief Executive Officer during 2016 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>. Effective January 1, 2016, the Corporation hereby agrees to employ Executive as the Corporation&rsquo;s full-time
President and Chief Executive Officer. As President and Chief Executive Officer, Executive will report to the Corporation's Board
of Directors, and shall have such duties consistent with that of a Chief Executive Officer/President that may from time to time
be designated or assigned to Executive pursuant to the directives of 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 commencing on January 1, 2015 ending on December 31, 2016 (the &ldquo;Term&rdquo;), unless
his employment is terminated prior thereto pursuant to the provisions hereof. This Agreement shall automatically expire on December
31, 2016 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: right; text-indent: 0.5in">Initial <U>JW</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"></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;&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">4.2&#9;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.</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;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">4.4&#9;In the event
that a Change in Control occurs during the Term, Executive shall receive a Change in Control Payment within 30 calendar days after
the consummation of the Change of Control.</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">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 four (4) 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 twelve (12) 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: 1in">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: 1in">&nbsp;</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: right; text-indent: 1in">Initial <U>JW</U></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>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&#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: 1.25in">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: 1.25in">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">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: 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">&nbsp;</P>

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

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

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

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    <!-- Field: /Page -->

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 45%">RF INDUSTRIES, LTD.</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 45%">EXECUTIVE:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>By: <U>/s/ Mark Turfler</U> </TD>
    <TD>&nbsp;</TD>
    <TD><U>/s/ Johnny Walker</U></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Mark Turfler</TD>
    <TD>&nbsp;</TD>
    <TD>Johnny Walker</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Its: Chief Financial Officer</TD>
    <TD>&nbsp;</TD>
    <TD>President
and CEO</TD></TR>
</TABLE>

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

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

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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>v427837_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&#9;EXHIBIT 10.2</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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 December 23, 2015, by and between RF Industries, Ltd., a Nevada corporation (the
&ldquo;Corporation&rdquo;), and Mark Turfler (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"><U>WITNESSETH</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, Executive
currently is employed as the Chief Financial Officer of the Corporation; pursuant to written employment agreement that expires
on December 31, 2015; 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">WHEREAS, the Corporation
desires to continue to employ Executive in 2016 as the Corporation&rsquo;s Chief Financial Officer, 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>. Effective January 1, 2016, the Corporation hereby agrees to employ Executive as the Corporation&rsquo;s full-time
Chief Financial Officer during the Term (as defined in Section 3, below). As Chief Financial Officer, Executive will report to
the Corporation's Chief Executive Officer and to the Corporation&rsquo;s Board of Directors, and shall have such duties consistent
with that of a Chief Financial Officer that may from time to time be designated or assigned to Executive pursuant to the directives
of the Chief Executive Officer and/or 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 from time to time 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 Chief Executive Officer and/or 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 commencing on January 1, 2016 ending on December 31, 2016 (the &ldquo;Term&rdquo;), unless
his employment is terminated prior thereto pursuant to the provisions hereof. This Agreement shall automatically expire on December
31, 2016 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"></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;&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/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 $170,000 per annum,
or such greater amount as the Board of Directors of the Corporation may 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">4.2&#9;Executive shall
participate in an annual bonus plan of the Corporation pursuant to which Executive&rsquo;s target bonus opportunity shall be forty
percent (40%) 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.</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;Executive shall
be entitled to participate, to&nbsp;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.</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;In the event that
a Change in Control occurs during the Term, Executive shall receive a Change in Control Payment within 30 calendar days after the
consummation of the Change of Control.</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 four (4) 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 twelve (12) 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: 1in">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: 1in">&nbsp;</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;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">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: 1.25in">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: 1.25in">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">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 effectiveness of this Agreement 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: 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"></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&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 twelve (12) months&rsquo; 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.</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; 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"></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;&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">Mark Turfler</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 45%">RF INDUSTRIES, LTD.</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 45%">EXECUTIVE:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><U>By: /s/ JOHNNY WALKER</U>&#9;</TD>
    <TD>&nbsp;</TD>
    <TD><U>/s/ MARK TURFLER</U></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Johnny Walker</TD>
    <TD>&nbsp;</TD>
    <TD>Mark Turfler</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Its: President/Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD>Chief
Financial Officer</TD></TR>
</TABLE>

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

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

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</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>v427837_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<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>&#9;&#9;EXHIBIT 10.3</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-top: 0pt; margin-bottom: 0pt; 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 December 23, 2015, by and between RF Industries, Ltd., a Nevada corporation (the
&ldquo;Corporation&rdquo;), and Darren Clark (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"><U>WITNESSETH</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, Cables Unlimited,
Inc., a New York corporation (&ldquo;Cables Unlimited&rdquo;), is a wholly-owned subsidiary of the Corporation that is based in
New York; 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">WHEREAS, Executive
currently serves as the President of Cables Unlimited under a written employment agreement that will expire on December 31, 2015;
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">WHEREAS, the Corporation
desires to continue to employ Executive in 2016 as the President of Cables Unlimited, 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>. Effective January 1, 2016, the Corporation hereby agrees to employ Executive to perform duties on behalf of
the Corporation as the full-time President of Cables Unlimited during the Term (as defined in Section 3, below). As President of
Cables Unlimited, Executive will report to the Corporation's Chief Executive Officer and to the Corporation&rsquo;s Board of Directors,
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 both Cables Unlimited and the Corporation, and he will perform the duties assigned to him pursuant
to Section 1 hereof, subject, at all times, to the direction and control of the Corporation&rsquo;s President/Chief Executive Officer
and Board of Directors. 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&rsquo;s headquarters and other offices.</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 Cables Unlimited.</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 commencing on January 1, 2016 and ending on December 31, 2016 (the &ldquo;Term&rdquo;),
unless his employment is terminated prior thereto pursuant to the provisions hereof. This Agreement shall automatically expire
on December 31, 2016 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"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&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/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 $150,000 per annum,
or such greater amount as the Board of Directors of the Corporation may 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 shall 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">4.2&#9;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.</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;Executive shall
be entitled to participate, to&nbsp;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. The Corporation
shall be under no obligation to institute or continue the existence of any such employee benefit plan.</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 six (6) 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 shall not be accumulated from year to year unless Executive
is requested by the Board of Directors in writing to either use or forego unused vacation days during any year.</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: 1in">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>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">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: 1.25in">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: 1.25in">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 the
Cables Unlimited 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 Cables Unlimited
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: 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 Cables Unlimited (for
purposes of Sections 9, 10 and 11 of this Agreement, Cables Unlimited 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"></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&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 months&rsquo; 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 Cables Unlimited&rsquo;s current principal office.</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; 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"></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;&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">Darren Clark</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">3 Old Dock Rd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Yaphank, NY 11980</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 New York 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 New York, New York, 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">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>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&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"></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><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RF INDUSTRIES, LTD.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXECUTIVE:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: <U>/s/ Johnny Walker&#9;</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: <U>/s/ Darren Clark</U>&#9;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Johnny Walker</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Darren Clark</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Its: President/Chief Executive Officer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President, Cables Unlimited</FONT></TD></TR>
</TABLE>


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

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