<PAGE>






                                                        


                                                                  Exhibit 10.114

Mseifert.FIN




                              EMPLOYMENT AGREEMENT


         EMPLOYMENT AGREEMENT,  executed as of August 25, 1998, between SpecTran
Specialty Optics Company, a Delaware corporation (hereinafter referred to as the
"Corporation") and Martin Seifert (hereinafter referred to as "Executive").

                              W I T N E S S E T H:

         WHEREAS,  Executive  desires to be employed by the  Corporation and the
Corporation desires to enter into this employment agreement with Executive;

         NOW, THEREFORE, in consideration of the covenants and agreements herein
contained, the parties hereto agree with each other as follows:

         1.  Employment.  (a) The  Corporation  agrees to and does hereby employ
Executive,  and  Executive  agrees to and does hereby  accept  employment by the
Corporation,  as President of the Corporation or in any other executive capacity
as  determined  by and subject to the  supervision  and  direction  of the Chief
Executive  Officer and/or the Board of Directors of the Corporation.  It is also
understood that Executive may also serve simultaneously in an executive capacity
in an  Affiliate1  of  the  Corporation.  The  term  of  Executive's  employment
hereunder  will be for the one year period  commencing  on August 25, 1998,  and
ending at midnight on the 24th day of August,  1999 (the "Base Term").  The Base
Term shall be automatically renewed on a daily basis so that on each date during
which  Executive is employed  under this Agreement the remaining term shall be a
period of one year  terminating at midnight of the first  anniversary of the day
immediately  preceding  such  date,  unless  at  any  time  the  outside  (i.e.,
non-employee)  members of the  Corporation's  Board of Directors  terminate  the
automatic  daily renewal  feature of this  Agreement as provided in Article 1(b)
below.  The Base Term and all renewals  thereof shall be deemed the  "Employment
Period" and shall hereinafter be referred to as such.
--------
1 For the purpose of this Agreement,  an "Affiliate" of the Corporation shall be
deemed  to  be  any  corporation  or  other  legal  entity  which  controls  the
Corporation,  which is controlled by the  Corporation,  or which is under common
control with the Corporation.


<PAGE>


         (b) At any  time  during  the  Employment  Period  the  outside  (i.e.,
non-employee)  members of the Corporation's Board of Directors may by resolution
terminate  the automatic  daily renewal of this  Agreement and set a termination
date which shall be midnight of the first  anniversary  of the date  immediately
preceding the day on which such resolution was adopted (the "Termination Date").
Written notice  ("Notice of Nonrenewal")  of the outside  Directors'  resolution
setting a  Termination  Date shall be  executed  by each  outside  Director  and
delivered  to  Executive  within  two  business  days  of the  adoption  of such
resolution. A Notice of Nonrenewal may be rescinded at any time by resolution of
the  outside  members  of the  Corporation's  Board of  Directors  executed  and
delivered in the same fashion.

         (c) If,  following  delivery to Executive of the Notice of  Nonrenewal,
neither the Corporation nor Executive  terminates  Executive's  employment under
Article 12 below, this Agreement shall continue in full force and effect for the
one-year  period set forth in the Notice of Nonrenewal,  and shall  terminate on
the Termination Date.

         2. Scope of Duties/Headquarters/Other Directorships.

         (a)  Executive  agrees that as  President of the  Corporation,  he will
devote his full time and effort during the Employment  Period to the performance
of the duties of such office.

         (b)   Executive   shall  make  his  business   headquarters   at  Avon,
Connecticut,  but will  also be  required  to  render  services  at  Sturbridge,
Massachusetts.  Executive  shall  relocate  should  the  Corporation  change its
headquarters.  Executive  shall  undertake  such travel as the  Corporation  may
request.

<PAGE>

         (c)  It is  understood  and  agreed  that  Executive  will  advise  the
Corporation of his intentions to act as a director of other corporations and may
hold such  directorships  and shall be  permitted to devote such time thereto as
may reasonably be necessary to discharge the ordinary duties  attendant upon any
such directorships.  Executive agrees that he will, upon request of the Board of
Directors of the Corporation,  resign from any such directorship notwithstanding
that the  Corporation may have  theretofore  approved his accepting or retaining
such directorship.

         3.       Employment Period - Compensation.

         (a) Executive Compensation.  For the services and duties to be rendered
and performed by Executive during the Employment  Period, the Corporation agrees
to pay Executive  compensation  at the rate of not less than Twelve Thousand One
Hundred dollars and no cents  ($12,100.00) per month, for a total of One Hundred
Forty Five  Thousand Two Hundred  dollars and no cents  ($145,200.00)  per year,
which amount may be increased by action of the  Compensation and Incentive Stock
Option  Committee  (or a  successor  thereof) of the Board of  Directors  of the
Corporation  and/or  resolution of the Board of Directors of the  Corporation at
such time or times and in such  amount or  amounts  as it or they may in its and
their sole  discretion  determine (this annual amount to be referred to as "Base
Annual Executive  Compensation").  Base Annual Executive  Compensation  shall be
payable in equal  semi-monthly  installments.  The  Corporation  shall reimburse
Executive for all expenses  reasonably  and  necessarily  incurred in connection
with his  employment by the  Corporation,  including  traveling  expenses  while
absent,  on the  Corporation's  business,  from his business  headquarters.  The
Corporation  will pay to Executive  Thirty Three  Thousand  Three Hundred Thirty
Three  dollars  and Thirty  Four cents  ($33,333.34)  for  expenses  relating to
Executive's  relocation  to the Avon,  Connecticut  area and  Executive  will be
reimbursed,  based upon receipts,  for reasonable temporary lodging in the Avon,
Connecticut  area for a period  of up to six  weeks.  Executive  will  receive a
monthly  automobile  allowance of Eight Hundred Twenty Five Dollars and no cents
($825.00).

<PAGE>

         (b)  Bonus.   Executive   will  be  eligible  to   participate  in  the
Corporation's key employee  incentive plan which,  based upon the achievement of
certain specified objectives,  will entitle Executive,  while in the position of
President,  to a target bonus equal to thirty  percent  (30%) of the Base Annual
Executive Compensation with additional  opportunities to earn up to a maximum of
seventy five  percent  (75%) of Executive  Base Annual  Executive  Compensation.
However,  for 1998 only,  Executive  understands  that the target  bonus will be
fifteen  percent  (15%) of the Base Annual  Executive  Compensation  and will be
granted only if the Corporation  achieves the financial results  incorporated in
the Corporation's  1998 plan.  Executive will also be eligible to participate in
the Corporation's all employee profit sharing plan, which entitles  Executive to
earn up to ten percent (10%) of Base Annual Executive Compensation as additional
compensation.   Notwithstanding  anything  herein  to  the  contrary,  Executive
understands  and agrees that the plans and payments  referred to in this Section
3(b) are subject to amendment or  termination  at the discretion of the Board of
Directors of the Corporation.

         (c)  Stock  Options.  At the  first  meeting  of the  Compensation  and
Incentive Stock Option Committee of the Corporation's  parent company,  SpecTran
Corporation ("SpecTran"),  held on or after Executive's first day as a full time
employee of the Corporation,  Executive will be granted  incentive stock options
to purchase an aggregate of Twenty Thousand (20,000) shares of SpecTran's common
stock at a per share  exercise  price equal to the closing  price of such common
stock on the date of grant,  as  reported  on the NASDAQ  National  Market  (the
"Closing Price"), subject to the terms of SpecTran's 1991 Incentive Stock Option
Plan.

         4. Vacation.  Executive will earn vacation at a rate of three (3) weeks
per year in the first year of the Employment  Period and four (4) weeks per year
thereafter.  Said  vacation  may be  taken  all at once or  weekly  at the  sole
discretion of Executive.

<PAGE>

         5.  Secrets.  Executive  agrees  that any  trade  secrets  or any other
proprietary  information (whether in written, verbal or any other form) relating
to the  existing  or  contemplated  business  and/or  field of  interest  of the
Corporation  or any of its  Affiliates,  or of any  corporation  or other  legal
entity  in which  the  Corporation  or any of its  Affiliates  has an  ownership
interest of more than twenty-five percent (25%), and any proprietary information
(whether  in  written,  verbal  or any other  form) of any of the  Corporation's
customers,  suppliers,  licensor or  licensees,  including,  but not limited to,
information relating to inventions,  disclosures,  processes,  systems, methods,
formulae, patents, patent applications,  machinery,  materials, notes, drawings,
research  activities and plans,  costs of production,  contract  forms,  prices,
volume of sales,  promotional  methods,  lists of names or classes of customers,
which he has heretofore acquired during his employment by the Corporation or any
of its Affiliates or which he may hereafter  acquire during his employment  with
the  Corporation  or any of its  Affiliates,  in both  cases  whether  during or
outside business hours,  whether or not on the  Corporation's  premises,  as the
result of any disclosures to him, or in any other way, shall be regarded as held
by him in a fiduciary  capacity solely for the benefit of the  Corporation,  its
successors or assigns, and shall not at any time, either during the term of this
Agreement or thereafter, be disclosed,  divulged,  furnished, or made accessible
by him to anyone,  or be otherwise used by him,  except in the regular course of
business  of  the  Corporation  or  its  Affiliates.  Upon  termination  of  his
employment,  Executive  shall return or deliver to the  Corporation all tangible
forms of such  information  in his  possession  or control,  and shall retain no
copies thereof. Information shall, for purposes of this Agreement, be considered
to be secret if not known by the trade  generally,  even though such information
may have been  disclosed to one or more third  parties  pursuant to any business
discussion or  agreement,  including  distribution  agreements,  joint  research
agreements or other  agreements  entered into by the  Corporation  or any of its
Affiliates.

<PAGE>

         6. Patents.  Executive agrees to and does hereby sell, assign, transfer
and set over to the Corporation, its successors,  assigns, or Affiliates, as the
case may be,  all his  right,  title,  and  interest  in and to any  inventions,
improvements,  processes,  patents or applications for patents which he develops
or conceives individually or in conjunction with others during his employment by
the Corporation, or, having possibly conceived same prior to his employment, may
complete  while in the employ of the  Corporation or any of its  Affiliates,  in
both cases  whether  during or  outside  business  hours,  whether or not on the
Corporation's premises, which inventions,  improvements,  processes,  patents or
applications for patents are (i) in connection with any matters within the scope
of the  existing  or  contemplated  business  of the  Corporation  or any of its
Affiliates,  or  (ii)  aided  by  the  use of  time,  materials,  facilities  or
information paid for or provided by the Corporation,  all of the foregoing to be
held and enjoyed by the Corporation,  its successors,  assigns or Affiliates, as
the case may be, to the full extent of the term for which any Letters Patent may
be granted and as fully as the same would have been held by Executive,  had this
Agreement,  sale or assignment not been made.  Executive will make,  execute and
deliver any and all  instruments  and documents  necessary to obtain patents for
such inventions,  improvements and processes in any and all countries. Executive
hereby  irrevocably  appoints the  Corporation to be his attorney in fact in the
name of and on behalf of  Executive to execute all such  instruments  and do all
such  things and  generally  to use the  Executive's  name for the  purposes  of
assuring to the  Corporation  (or its  nominee)  the full  benefit of its rights
under the provisions of Articles 5 and 6.

<PAGE>

         7. Disability.  (a) In the event Executive becomes partially  disabled,
or becomes  totally  disabled (as  determined  in  accordance  with Article 7(c)
below)  and such  total  disability  has  continued  for less  than six (6) full
consecutive  calendar  months,  then the  Corporation  shall continue during the
Employment  Period to pay  Executive  at the rate of his Base  Annual  Executive
Compensation  as set forth in Article 3 and continue  the benefits  provided for
him in  Articles  8 and 9  hereof.  The  Corporation  shall  retain  the  right,
notwithstanding   Executive's  partial  disability,   to  deliver  a  Notice  of
Nonrenewal  during  such  time  as such  partial  disability  continues,  unless
Executive has already received a Notice of Nonrenewal, in which event such prior
Notice of Nonrenewal shall remain effective notwithstanding  Executive's partial
disability.  In  any  event,  the  Corporation's  obligations  in the  event  of
Executive's  partial  disability  shall terminate upon the end of the Employment
Period.

         (b) In the event Executive  becomes totally  disabled (as determined in
accordance with Article 7(c) below), and such total disability has continued for
six (6) full  consecutive  calendar  months or more, then for so long thereafter
during the Employment  Period as such total  disability  shall continue or for a
period  of one  (1)  year,  whichever  is  longer,  Executive  shall  be paid at
seventy-five percent (75%) of the rate of his Base Annual Executive Compensation
as set forth in Article 3 hereof. For purposes of determining the balance of the
Employment  Period under this Article  7(b),  Executive  shall be deemed to have
received  a Notice of  Nonrenewal  effective  on the last day of said  six-month
period,  unless he has already  received a Notice of Nonrenewal,  in which event
such prior Notice of Nonrenewal shall be controlling.

         (c) For purposes of this Agreement,  determination of whether Executive
is or is not totally disabled shall be made as follows:

                           (i) Executive's  inability,  physical or mental, for
 whatever reason, to be able to perform his duties to the Corporation shall be 
total disability; and

<PAGE>

                           (ii)  If any  difference  shall arise  between the  
Corporation  and  Executive as to whether he is totally  disabled,  such 
difference  shall be resolved as follows:  Executive  shall be examined by a 
physician  appointed by the  Corporation and a physician appointed by Executive.
If  said  two  physicians shall disagree concerning whether Executive is totally
disabled,  that  question  shall be submitted to a third  physician,  who shall 
be selected by such two physicians. The medical opinion of such third physician,
after examination of Executive and consultation with such other two physicians, 
shall decide the question.

         (d) Should  Executive  become totally disabled then he may by action of
the Board of Directors be removed  from his  position  and  employment  with the
Corporation.

         8. Death. In the event of the death of Executive  during the Employment
Period,  the Corporation shall continue to pay Executive's Base Annual Executive
Compensation  for a period of one (1) year from the date of  death.  The  salary
payment  will be  made to the  wife of  Executive  or if no wife  shall  survive
Executive, to his estate.

<PAGE>

         9.  Employee  Benefits.  (a)  Executive  may  participate  in any  life
insurance,  hospitalization or surgical program,  or insurance program presently
in effect or hereafter  adopted by the Corporation,  to the extent, if any, that
he may be eligible to do so under the  provisions  of such plan or program.  The
Corporation  may terminate,  modify,  or amend any such plan or program,  in the
manner and to the extent  permitted  therein,  and the rights of Executive under
any such plan or program  shall be  subject  to any such  right of  termination,
modification,  or amendment.  To the extent any payments  under any such plan or
program are made to  Executive  because he is disabled,  such  amounts  shall be
credited against amount due to Executive under Article 7.

         (b) The  Corporation  shall provide  Executive with term life insurance
for  which  Executive  may  designate  one or more  beneficiaries,  with a death
benefit equal to the Base Annual Executive Compensation. To the extent that such
life insurance is not provided in the  Corporation's  existing employee benefits
package,  the  Corporation  will  endeavor  to take out  supplemental  coverage,
provided  that  Executive  shall  cooperate in  obtaining  such  coverage,  that
Executive is not uninsurable and that the premium is not unreasonably high.

         (c) For the  sake  of  clarification,  and  notwithstanding  any  other
provision  of this  Agreement,  it is  understood  and agreed that all  benefits
provided to Executive  under this Agreement shall be provided to the extent that
they exceed any employee benefit  provided to Executive other than  specifically
through this Agreement, such as the programs, plans, etc. referred to in Article
9(a) above. The benefits  provided under this Agreement shall be supplemental to
benefits  provided  otherwise to Executive by the Corporation,  and shall not be
provided to the extent that they are duplicative.

<PAGE>

         10.  Covenant  Not to Solicit  Employees.  During the  one-year  period
immediately following termination of Executive's employment with the Corporation
(the "One-Year  Period"),  Executive agrees that, if such agreement is requested
by the  Corporation,  he will  not (a)  solicit  any  past,  present  or  future
customers of the Corporation or any of its Affiliates in any way relating to any
business in which the  Corporation  or any of its  Affiliates was engaged during
the term of his  employment,  or which the  Corporation or any of its Affiliates
planned, during the term of his employment,  to enter, or (b) induce or actively
attempt to influence any other employee or consultant of the  Corporation or any
of its  Affiliates to terminate his or her  employment or  consultancy  with the
Corporation or any of its Affiliates.  During the One-Year Period, provided that
the Corporation has requested the  non-competition  agreement  referred to above
with respect to said period, Executive shall be paid, in the same manner as paid
while  Executive was an employee,  compensation  equal to  seventy-five  percent
(75%) of Executive's Base Annual Executive Compensation and employee benefits he
received  during  the last year of  employment  with the  Corporation,  and,  in
addition, the Corporation shall have the right to call upon Executive's services
as a  consultant.  In the event that  Executive  violates any  provision of this
Article 10, then in addition to any other remedies available to the Corporation,
the  Corporation  shall have the right  immediately to terminate any payments or
benefits provided or to be provided to Executive under this Agreement.

         11.  Assignment.  This Agreement may be assigned by the  Corporation as
part of the sale of substantially all of its business;  provided,  however, that
the purchaser  shall expressly  assume all obligations of the Corporation  under
this Agreement. Further, this Agreement may be assigned by the Corporation to an
Affiliate,   provided  that  any  such  Affiliate  shall  expressly  assume  all
obligations of the Corporation  under this Agreement,  and provided further that
the  Corporation  shall then fully guarantee the performance of the Agreement by
such Affiliate.  Executive agrees that if this Agreement is so assigned, all the
terms and  conditions of this  Agreement  shall remain between such assignee and
himself with the same force and effect as if said  Agreement  had been made with
such assignee in the first instance.

         12.      Termination.

         (a)  Survival.  The  provisions of Articles 5, 6, 10, 12 and 14 shall 
survive the  termination of this Agreement.

<PAGE>

         (b)  Termination  by  Executive.  Subject to the  provisions of Article
12(c)(iii)  regarding a Change in Control,  if at any time during the Employment
Period (whether or not Executive has received a Notice of Nonrenewal), Executive
elects to terminate his employment with the Corporation,  then the Corporation's
obligations  to  Executive  under  this  Agreement  shall be limited to the Base
Annual Executive  Compensation and benefits earned up to the date of Executive's
departure.

         (c)      Termination Without Cause.

               (i) Subject to the  provisions of Article  12(c)(ii)  below,  and
          provided  there has been no Change in Control  (as  defined in Article
          12(c)(v)  below),  in the event the  Corporation  dismisses  Executive
          without Cause from employment in a senior executive  capacity with the
          Corporation, the Corporation shall continue to fulfill its obligations
          under  this  Agreement  until the later  of:  (A) the date six  months
          following  Executive's  dismissal,  or (B) the  end of the  Employment
          Period.  For purposes of determining the end of the Employment  Period
          under  this  Article,  Executive  shall be deemed to have  received  a
          Notice of Nonrenewal  effective on the date of his  dismissal  without
          Cause, unless he has already received a Notice of Nonrenewal, in which
          event such prior Notice of Nonrenewal shall be controlling.

               (ii) Provided  there has been no Change in Control (as defined in
          Article 12(c)(v) below), if Executive takes other full-time employment
          during the six-month  period  following his dismissal  without  Cause,
          then the  Corporation's  obligation  to Executive  shall be limited to
          payment of  Executive's  Base Annual  Executive  Compensation  for the
          balance of said six-month period. Provided there has been no Change in
          Control (as defined in Article  12(c)(v)  below),  if Executive  takes
          other  full-time  employment  after  the end of the  six-month  period
          following  his  dismissal  without  Cause  but  before  the end of the
          Employment  Period,  the Corporation's  obligations to Executive under
          this  Agreement  shall  cease  upon  Executive's   taking  such  other
          full-time employment.

<PAGE>

               (iii)In  the event  that a Change in  Control  occurs  during the
          Employment  Period and either [A] Executive is dismissed without Cause
          from  employment  in a senior  executive  capacity up to and including
          twelve  (12)  months  from such  Change in  Control  or [B]  Executive
          voluntarily  leaves the employ of the  Corporation up to and including
          twelve (12)  months  from such Change in Control,  then in either case
          the Corporation  shall continue to fulfill its obligations  under this
          Agreement  for a period  of twelve  (12)  months  from such  dismissal
          without Cause or voluntary  departure,  as the case may be;  provided,
          however,  that if Executive  takes other full-time  employment  during
          said twelve-month  period,  the Corporation's  obligation to Executive
          for the  balance  of said  twelve-month  period  shall be  limited  to
          payment of Executive's Base Annual Executive Compensation.

               (iv) Notwithstanding  anything to the contrary in this Agreement,
          the Corporation,  in its sole and absolute discretion,  may accelerate
          the payment of any  amounts  payable  under  Article  12(c)  hereof to
          Executive, provided, however, that accelerating such payments does not
          affect  Executive's  eligibility to continue his insurance benefits on
          the same basis (both with  respect to coverage and  contributions)  as
          the  Corporation's  active  employees until such time as he would have
          received  the last  amount  payable  under  Article  12(c)  hereof had
          payment  thereof  not  been  accelerated   pursuant  to  this  Article
          12(c)(iv).

<PAGE>

               (v)  "Change  in  Control"  shall  mean  [A] the  date of  public
          announcement  that a person has become,  without  the  approval of the
          SpecTran's Board of Directors,  the beneficial owner of 20% or more of
          the voting power of all  securities of the SpecTran then  outstanding;
          [B] the date of the  commencement of a tender offer or tender exchange
          by any  person,  without  the  approval  of the  SpecTran's  Board  of
          Directors,  if upon the consummation  thereof such person would be the
          beneficial  owner of 20% or more of the voting power of all securities
          of the SpecTran then outstanding; or [C] the date on which individuals
          who  constituted  the Board of  Directors  of the SpecTran on the date
          this  Agreement  was  adopted  cease for any  reason to  constitute  a
          majority  thereof,  provided  that  any  person  becoming  a  Director
          subsequent to such date whose  election or nomination  was approved by
          at least three quarters of such incumbent  Board of Directors shall be
          considered as though such person were an incumbent director.

               (vi)  "Cause"  shall mean [A] breach of  Executive's  obligations
          under  Article  5 or 10 of  this  Agreement,  [B]  stealing  from  the
          Corporation or any of its Affiliates or [C] Executive's  conviction of
          a felony.

                  (d) Executive agrees not to apply for or receive  unemployment
insurance benefits while receiving any benefits under this contract.

<PAGE>

         13.  Notices.  All notices  required or permitted to be given hereunder
shall be mailed by certified mail or delivered by hand to the party to whom such
notice is required  or  permitted  to be given  hereunder.  If mailed,  any such
notice  shall be deemed to have  been  given  when  mailed as  evidenced  by the
postmark at point of mailing.  If  delivered  by hand,  any such notice shall be
deemed to have been given when received by the party to whom notice is given, as
evidenced by written and dated receipt of the receiving party.

         Any notice to the  Corporation  or to any  assignee of the  Corporation
shall be addressed as follows:
                           SpecTran Specialty Optics Company
                           55 Darling Drive
                           P.O. Box 1260
                           Avon, CT  06001-1260
                           Attn:  Chief Executive Officer

                           With an additional copy to:

                           Ira S. Nordlicht, Esq.
                           Nordlicht & Hand
                           645 Fifth Avenue
                           New York, New York 10022



         Any notice to Executive shall be addressed to the address  appearing on
the records of the Corporation at the time such notice is given.

         Either  party may  change the  address  to which  notice to it is to be
addressed, by notice as provided herein.

         14. Applicable Law. This Agreement shall be interpreted and enforced in
accordance  with the laws of the  Commonwealth of  Massachusetts  without giving
effect to the principles of conflicts of law.

         15.      Effective Date.  This Agreement  shall become  effective as of
                  the date first mentioned in this Agreement.


<PAGE>



         IN  WITNESS  WHEREOF,  the  parties  hereto  have  executed  the  above
Agreement as of the day and year first above written.

                                           SPECTRAN SPECIALTY OPTICS COMPANY



                                            By  S/S Charles B. Harrison
                                            ---------------------------
NOTARY                                      Name:  Charles B. Harrison
                                            Title: CEO




___________________                         S/S Martin Seifert
                                            ------------------
NOTARY                                      Martin Seifert