<SEC-DOCUMENT>0001144204-17-033159.txt : 20170620
<SEC-HEADER>0001144204-17-033159.hdr.sgml : 20170620
<ACCEPTANCE-DATETIME>20170620092947
ACCESSION NUMBER:		0001144204-17-033159
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170616
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:		20170620
DATE AS OF CHANGE:		20170620

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:		17919948

	BUSINESS ADDRESS:	
		STREET 1:		7610 MIRAMAR RD
		STREET 2:		BLDG 6000
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92126-2313
		BUSINESS PHONE:		858-549-6340

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CELLTRONICS INC
		DATE OF NAME CHANGE:	19910204
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section&nbsp;13 or 15(d) of
the Securities Exchange Act of 1934</P>

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    <TD STYLE="width: 54%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 45%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center">Date of Report (date of earliest event reported): June 16, 2017</TD></TR>
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    <TD STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-weight: bold">RF INDUSTRIES, LTD.</TD>
    <TD STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Exact name of registrant as specified in its charter)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
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    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Nevada</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">(State or Other Jurisdiction<BR>
        of Incorporation)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">0-13301</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">(Commission File Number)</P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">88-0168936</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">(I.R.S. Employer<BR>
        Identification No.)</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
        <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"></P></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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    <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-size: 12pt">&#9744;</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>
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    <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-size: 12pt">&#9744;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR>
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    <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>
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    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of </FONT>the <FONT STYLE="font-family: Times New Roman, Times, Serif">Securities Act of 1933 (&sect;230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2). </FONT></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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Emerging
growth company </FONT><FONT STYLE="font-size: 12pt">&#9744;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition </FONT>period
<FONT STYLE="font-family: Times New Roman, Times, Serif">for complying with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. </FONT><FONT STYLE="font-size: 12pt">&#9744;</FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 5.02</B></TD><TD><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="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On June 16, 2017, RF Industries, Ltd. (&ldquo;we,&rdquo;
&ldquo;us,&rdquo; &ldquo;our&rdquo; or the &ldquo;Company&rdquo;) entered into an employment letter agreement (the &ldquo;Agreement&rdquo;)
with Robert D. Dawson, under which Mr. Dawson will serve as the Company&rsquo;s President and Chief Executive Officer, effective
July 17, 2017 (the &ldquo;Start Date&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the Agreement, we have agreed to pay
Mr. Dawson an annual base salary of $250,000. Mr. Dawson will also be eligible to participate in the Company&rsquo;s annual bonus
plan, pursuant to which he will have the opportunity to earn a year-end bonus equal to fifty percent (50%) of his annual base salary
(the &ldquo;Annual Bonus&rdquo;). The actual bonus paid may be higher or lower than the Annual Bonus based on the over- or under-achievement
of Company and individual objectives as determined by the Company&rsquo;s Board of Directors or its Compensation Committee. It
is currently anticipated that 80% of Mr. Dawson&rsquo;s Annual Bonus will be based on the Company&rsquo;s performance and 20% will
be based on the achievement of individual objectives.</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 addition, as of the Start Date, Mr. Dawson
will receive stock options to purchase 100,000 shares of the Company&rsquo;s common stock. The award will be subject to the terms
and conditions of the Company&rsquo;s 2010 Stock Incentive Plan, will have an exercise price based on the trading price on the
Nasdaq Stock Market on the Start Date, and will vest as to 10,000 shares per year, with 10,000 shares vesting on the Start Date
and 10,000 shares vesting on each anniversary thereafter while he is employed by the Company. Mr. Dawson is also entitled under
the Agreement to be paid or reimbursed up to an aggregate of $75,000 in relocation expenses, and is eligible to participate in
the employee benefit plans and programs generally available to the Company&rsquo;s senior executives, subject to the terms and
conditions of such plans and programs.</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 term of the Agreement is one year. After
the first anniversary of the Start Date, Mr. Dawson&rsquo;s employment will automatically renew, and his period of employment will
automatically be extended for an additional one-year period, unless either party provides the other party with written notice of
non-renewal at least sixty (60) days prior to the date of automatic renewal. Upon a Change of Control Transaction (as defined in
the letter agreement), all of Mr. Dawson&rsquo;s time based stock options shall immediately vest, whether or not his employment
is terminated. If at the time of a Change of Control Transaction Mr. Dawson&rsquo;s employment is terminated by the Company for
any reason other than Cause (as defined), Mr. Dawson will be entitled to receive a change of control cash payment in an amount
equal to 12 months of his salary</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">Since 2014, Mr. Dawson, 43, served as the
President and Chief Executive Officer of Vision Technology Services, an information technology consulting and project management
company. From 2007 to 2013, Mr. Dawson was employed at TESSCO Technologies, Inc., a publicly traded distributor of wireless products
and services. While at TESSCO, he held multiple executive roles in sales, marketing, product management and strategy, culminating
with being Vice-President of Sales. He joined TESSCO through the 2007 acquisition of NetForce Solutions, a technology training
and consulting firm that he co-founded in 2000 and led as the Chief Executive Officer for seven years. Mr. Dawson received his
Bachelor&rsquo;s degree in Business Administration, with an emphasis in Marketing, from Hillsdale College.</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">There are no arrangements or understandings
between Mr. Dawson and any other persons pursuant to which he was chosen as an officer of the Company. There are no family relationships
between Mr. Dawson and any of the Company&rsquo;s directors, executive officers, or persons nominated or chosen by the Company
to become a director or executive officer. Mr. Dawson is not a party to any current or proposed transaction with the Company for
which disclosure is required under Item 404(a) of Regulation S-K.</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>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Howard Hill, who has served and the Company&rsquo;s
interim President and Chief Executive Officer of the Company since October 31, 2016, will resign from those offices concurrently
with the start of Mr. Dawson&rsquo;s employment. Mr. Hill agreed to serve as the interim President and Chief Executive Officer
of the Company until a new President and Chief Executive Officer is hired, and further agreed to serve as the interim President
and Chief Executive Officer without any compensation. Mr. Hill will, however, continue to serve on the Company&rsquo;s Board of
Directors.&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0in"></TD>
    <TD STYLE="width: 1in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Item 9.01</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Financial Statements and Exhibits</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 0.5in; padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-size: 10pt">Exhibits.</FONT></TD></TR>
</TABLE>


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

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

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

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    <TD STYLE="width: 0.5in; padding: 0 0 1pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 1in; padding-top: 0; padding-right: 0; border-bottom: Black 1pt solid; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="width: 0.15in; padding: 0 0 1pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; border-bottom: Black 1pt solid; padding-left: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Employment Letter Agreement, dated June 16, 2017, by and between RF Industries, Ltd. and Robert D. Dawson</FONT></TD></TR>
</TABLE>


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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: 0pt 0; text-align: center">SIGNATURES</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

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

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

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    <TD STYLE="width: 50%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">June 20, 2017</FONT></TD>
    <TD STYLE="width: 3%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 37%; padding: 0; text-indent: 0; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Howard Hill</FONT></TD>
    <TD STYLE="width: 10%; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Howard Hill</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Interim Chief Executive Officer</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>


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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v469207_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2 Scotts Moore Court</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Phoenix, MD 21131</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">June 15, 2017</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Offer and Position</U></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">We are very pleased to extend an offer of
employment to you for the position of President and Chief Executive Officer of RF Industries, Ltd., a Nevada corporation (the <B>&quot;Company&quot;</B>).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Duties</U></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 your capacity as President and Chief
Executive Officer, you will perform duties and responsibilities that are commensurate with your position as the President and Chief
Executive Officer of a publicly traded company and such other duties as may be assigned to you from time to time. You will report
directly to the Board of Directors of the Company (the <B>&quot;Board&quot;</B>). If nominated or appointed to the Board, you will
also serve as a member of the Board for no additional compensation. You agree to devote your full business time, attention and
best efforts to the performance of your duties and to the furtherance of the Company's interests. Notwithstanding the foregoing,
nothing in this letter shall preclude you from devoting reasonable periods of time to charitable and community activities, managing
personal investment assets and serving on boards of other companies (public or private) not in competition with the Company, provided
that none of these activities interferes with the performance of your duties hereunder or creates a conflict of interest.</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"><U>Location</U></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">Your principal place of employment shall
be at our corporate office/headquarters in San Diego, California, subject to business travel as needed to properly fulfill your
employment duties and responsibilities.</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"><U>Start Date</U></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">This offer is based on a mutually acceptable
start date, to be determined, which we currently anticipate will be on or about July 17, 2017 (<B>&quot;Start Date&quot;</B>).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Base Salary</U></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 consideration of your services, you will
be paid an initial base salary of $250,000 per year, subject to review annually for increase, but not decrease, payable in accordance
with the standard payroll practices of the Company and subject to all withholdings and deductions as required by law.</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>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Relocation Allowance</U></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 Company shall pay, or reimburse you
in accordance with Company policies for, all reasonable, actual relocation expenses incurred by you relating to relocation of you
and your family to San Diego, California, up to an aggregate of $75,000. If you terminate your employment, or if your employment
is terminated by the Company for cause during the first year following your Start Date, you agree to repay the Company the gross
amount of any relocation expenses paid or reimbursed.</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"><U>Annual Bonus</U></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">During your employment, you will be eligible
to participate in the Company's annual bonus plan <FONT STYLE="font-size: 10pt">pursuant to which you will have the opportunity
to earn a year-end bonus equal to fifty percent (50%) of your annual base salary (the &ldquo;Annual Bonus&rdquo;). The actual bonus
paid may be higher or lower than the Annual Bonus for over-or under-achievement of Company and individual objectives as determined
by the Board of Directors or the Compensation Committee of the Board. </FONT> It is currently anticipated that 80% of your Annual
Bonus will be based on the Company&rsquo;s performance and 20% will be based on the achievement of individual goals. The Annual
Bonus performance goals will be established at the beginning of each fiscal year by the <FONT STYLE="font-size: 10pt">Board of
Directors or its Compensation Committee. </FONT>Any Annual Bonus with respect to a particular fiscal year will be paid within 2
1/2 months following the end of the year. For fiscal year October 31, 2017, the bonus will be discretionary upon the board of directors&rsquo;
approval. If a bonus is granted, it will be paid prior to the end of January 2018. You must remain continuously employed through
the bonus payment date to be eligible to receive an annual bonus payment for a particular fiscal year.</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"><U>Equity Grants</U></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">As of the Start Date, you will receive a
one-time equity award in the form of stock options to purchase 100,000 shares of the Company&rsquo;s common stock. The award will
be subject to the terms and conditions of the RF Industries, Ltd. 2010 Stock Incentive Plan, will have an exercise price based
on the trading price on the Nasdaq Stock Market on the Start Date, and will vest as to 10,000 shares per year (10,000 shares will
vest on the Start Date, and 10,000 shares will vest on each anniversary thereafter while you are employed by 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">For each full fiscal year of employment,
you will be eligible to receive an annual equity award determined by the Board in its discretion.</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"><U>Benefits and Perquisites</U></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">You will be eligible to participate in the
employee benefit plans and programs generally available to the Company's senior executives, subject to the terms and conditions
of such plans and programs. You will be entitled to paid vacation in accordance with the Company's policies in effect from time
to time. The Company reserves the right to amend, modify or terminate any of its benefit plans or programs at any time and for
any reason. The plans currently in effect consist of the following:</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; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">--</TD><TD STYLE="text-align: justify">Health Insurance (the HMO plan for the employee is covered
100% by the Company, and dependents at 25%)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">--</TD><TD STYLE="text-align: justify">Long Term Disability Insurance</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">--</TD><TD STYLE="text-align: justify">Life Insurance - $100,000</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">--</TD><TD STYLE="text-align: justify">AD&amp;D - Accidental Death &amp; Dismemberment equal
to Life Benefit</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">--</TD><TD STYLE="text-align: justify">401(k) &ndash; Eligible after 90 days</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">--</TD><TD STYLE="text-align: justify">Maximum sick leave per year is six days</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">--</TD><TD STYLE="text-align: justify">Eight paid holidays per year</TD>
</TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0in">Vacation policy is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 2in; padding: 0; text-decoration: underline; text-indent: 0"><B><U>Service</U></B></TD>
    <TD STYLE="width: 0.25in; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-decoration: underline; text-indent: 0"><B><U>Vacation</U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Hire thru 5 years</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">80 hours / yr</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">6 thru 10 years</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">120 hours / yr</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">11 thru 14</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">160 hours / yr</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">15 thru 20 yrs</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">200 hours / yr</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">20+</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">240 hours/yr</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"><U>Withholding</U></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">All forms of compensation paid to you as
an employee of the Company shall be less all applicable withholdings.</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"><U>Term of Employment</U></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 term of this letter agreement will be
for one year. After the first anniversary of the Start Date, your employment hereunder automatically will renew, and your period
of employment will automatically be extended for an additional one-year period, unless either party provides the other party with
written notice of non-renewal at least sixty (60) days prior to the date of automatic renewal. In the event that your employment
with the Company is terminated without Cause prior to the first anniversary of the Start Date, you will receive a severance payment
equal to twelve months of your base salary, payable in full within thirty (30) days after termination, provided that you execute
a full general release in favor of the Company. For purposes hereof, &ldquo;Cause&rdquo; shall mean (i) a material breach by you
of this agreement or your material failure to perform your duties, which breach or failure are not cured within ten (10) days following
receipt of written notice thereof from the Company&rsquo;s Board of Directors; (ii) your death or your disability resulting in
your inability to perform your duties assigned hereunder for a period of 90 days; (iii) theft of Company assets, dishonesty, or
falsification of any Company documents or records; or (iv) your conviction (including any plea of guilty or nolo contendere) of
any criminal act that in the Board&rsquo;s judgment may materially damage the business or reputation 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"><U>Change in Control Payment</U></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">Immediately upon a Change of Control Transaction,
all of your time based stock options shall immediately vest, whether or not your employment is terminated. If, either within 30
days before, or 180 days after a Change of Control Transaction your employment is terminated by the Company for any reason other
than Cause, you will be entitled to receive a change of control cash payment in an amount equal to 12 month&rsquo;s salary (based
on your base salary at the time of such termination). A &ldquo;Change of Control Transaction&rdquo; means (x) the acquisition by
any one person or entity of securities of the Company representing more than fifty percent (50%) of the total voting power represented
by the Company&rsquo;s then outstanding voting securities; (y) a sale, assignment, lease, conveyance or other disposition of all
or substantially all of the assets of the Company, in one transaction or a series of related transactions, or (z) the consummation
of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result
in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding
or by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting
power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after
such merger or consolidation.</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>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Section 409A </U></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">This offer letter is intended to comply
with Section 409A of the Internal Revenue Code (<B>&quot;Section 409A&quot;</B>) or an exemption thereunder and shall be construed
and administered in accordance with Section 409A. Notwithstanding any other provision of this offer letter, payments provided under
this offer letter may only be made upon an event and in a manner that complies with Section 409A or an applicable exemption. Any
payments under this offer letter that may be excluded from Section 409A either as separation pay due to an involuntary separation
from service or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. For purposes of Section
409A, each installment payment provided under this offer letter shall be treated as a separate payment. Any payments to be made
under this offer letter upon a termination of employment shall only be made upon a &quot;separation from service&quot; under Section
409A. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this offer
letter comply with Section 409A and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest
or other expenses that may be incurred by you on account of non-compliance with Section 409A.</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">Notwithstanding any other provision of this
offer letter, if any payment or benefit provided to you in connection with termination of employment is determined to constitute
&quot;nonqualified deferred compensation&quot; within the meaning of Section 409A and you are determined to be a &quot;specified
employee&quot; as defined in Section 409A(a)(2)(b)(i), then such payment or benefit shall not be paid until the first payroll date
to occur following the six-month anniversary of your termination date (the <B>&quot;Specified Employee Payment Date&quot;</B>)
or, if earlier, on the date of your death. The aggregate of any payments that would otherwise have been paid before the Specified
Employee Payment Date and interest on such amounts calculated based on the applicable federal rate published by the Internal Revenue
Service for the month in which your separation from service occurs shall be paid to you in a lump sum on the Specified Employee
Payment Date and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule.</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"><U>Governing Law</U></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">This offer letter shall be governed by the
laws of California, without regard to conflict of law principles.</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"><U>Other Matters</U></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">You will be asked to verify your right to
work in the United States, as demonstrated by your completion of an I-9 form upon hire and your submission of acceptable documentation
(as noted on the I-9 form) verifying your identity and work authorization within three days of your Start Date. For your convenience,
a copy of the I-9 Form's List of Acceptable Documents is enclosed for your review.</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>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Representations</U></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">By accepting this offer, you represent that
you are able to accept this job and carry out the work that it would involve without breaching any legal restrictions on your activities,
such as non-competition, non-solicitation or other work-related restrictions imposed by a current or former employer. You also
represent that you will inform the Company about any such restrictions and provide the Company with as much information about them
as possible, including any agreements between you and your current or former employer describing such restrictions on your activities.
You further confirm that you will not remove or take any documents or proprietary data or materials of any kind, electronic or
otherwise, with you from your current or former employer to the Company without written authorization from your current or former
employer, nor will you use or disclose any such confidential information during the course and scope of your employment with the
Company. If you have any questions about the ownership of particular documents or other information, you should discuss such questions
with your former employer before removing or copying the documents or information.</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">We are excited at the prospect of you joining
our team. If you have any questions about the above details, please call me immediately. If you wish to accept this position, please
sign below and return this letter to me. This offer is open for you to accept until June 23, 2017, at which time it will be deemed
to be withdrawn.</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">I look forward to hearing from you.</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding: 0; font-size: 10pt; text-indent: 0">Signed&nbsp;</TD>
    <TD STYLE="width: 95%; padding: 0; font-size: 10pt; text-indent: 0"><U>/s/ Howard F. Hill</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">Howard Hill, Interim Chief Executive Officer</TD></TR>
</TABLE>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Acceptance of Offer</U></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">I have read and understood and I accept all the terms of the
offer of employment as set forth in the foregoing letter. I have not relied on any agreements or representations, express or implied,
that are not set forth expressly in the foregoing letter, and this letter supersedes all prior and contemporaneous understandings,
agreements, representations and warranties, both written and oral, with respect to the subject matter of this letter.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Signed <U>/s/ Robert Dawson</U></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">Date June 16, 2017</P>

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



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