Document:

Exhibit 10.14 

 

 

SERVICES AGREEMENT
This Services Agreement dated as of May 1, 2012 (this "Agreement") by and between Tandon Enterprises, Inc., a Delaware
corporation (“Tandon”) and SDJ Technologies, Inc., a Delaware corporation (“SDJ”). RECITALS WHEREAS, through
January 23, 2012, Syrma Technologies Pvt Ltd. (“Syrma”), on behalf of SDJ, had overseen and fulfilled, on behalf of
SDJ, an assembled memory module business (the “AMM Business”) pursuant to which Syrma (i) assembled the modules, (ii)
shipped directly to SDJ’s customers and (iii) effected the invoicing with respect to such shipment and sales; WHEREAS, further
to a Business Process Outsourcing Services dated January 23, 2012, Syrma and SDJ agreed that the relationship regarding the AMM
Business would be altered as follows (i) Syrma would act as a contract manufacturer and would ship such modules to SDJ’s
customers of the aforementioned assembled memory modules further to a customary EMS contract and (ii) SDJ would invoice its customers
directly; WHEREAS, on July 7, 2010, SDJ and Monster Cable Products, Inc. (“Monster”) executed a License Agreement,
as amended on each of August 24, 2011 and April 4, 2012 (the “Monster License”) whereby Monster granted SDJ the exclusive,
worldwide right to develop, manufacture, sell and distribute certain memory data storage products under the Monster Digital trademark
and M (stylized) mark (the “Monster Business”); WHEREAS, to support the Monster Business, Tandon and SDJ executed
a License Agreement of even date herewith (the “SDJ License”) whereby Tandon agreed to license certain intellectual
property to SDJ necessary for the operation of the Monster Business in exchange for shares of SDJ common stock; WHEREAS, the AMM
Business and Monster Business are together known as the “Business”; WHEREAS, further to that certain Share Exchange
Agreement of even date herewith (the “SEA”) by and between Tandon Digital, Inc., a Delaware corporation (’’Tandon
Digital"), and SDJ, SDJ will become a wholly-owned subsidiary of Tandon Digital, the closing of the SEA to be conditioned
on the initial closing of up to a $5.5 million private placement of Tandon Digital’s common stock (the “SEA Closing
Date”); WHEREAS, from January 1, 2012, SDJ has received, and desires to continue to receive, and Tandon has provided and
is willing to continue to provide, or cause to provided for a limited period of time, certain services in connection with the
Business, subject to the terms and conditions of this Agreement. NOW, THEREFORE, in consideration of the foregoing and the mutual
agreements and covenants set forth herein, the parties hereby agree as follows:

 

    	 

    	 

    

 

 

1. Definitions. For the purposes of this Agreement, the following
terms shall have the following meanings: "SDJ Affiliate" means any conjunction or other business entity controlled by
SDJ, the term “control” meaning possession of the power to directly clause the direction of the management and politics
of a corporation or other entity whether through the ownership of voting securities, contract or otherwise. "Business Day"
means any calendar day that is not a Saturday, Sunday or legal holiday. 2. Provision of Services. (a) Subject to the terms and
conditions of this Agreement, Tandon shall provide, or cause to be provided, to SDJ and the SDJ Affiliates, solely for the benefit
of the Business in the ordinary course of business, the services (the "Services") described in Schedule A, the terms
of which are incorporated herein by reference, for periods commencing effective as of January 1, 2012 and ending on the relevant
date specified in Schedule A (the "Service Period"), unless such period is earlier terminated in accordance with the
terms hereof. The Services shall be performed on Business Days during hours that constitute regular business hours for each of
Tandon and SDJ, unless otherwise agreed. Neither SDJ nor the SDJ Affiliates shall resell, subcontract, license, sublicense or
otherwise transfer any of the Services to any person or entity whatsoever or permit use of any of the Services by any person or
entity other than by SDJ and the SDJ Affiliates directly in connection with the conduct of the Business in the ordinary course
of business. (b) Notwithstanding anything to the contrary in this Section 2 (but subject to the second succeeding sentence), Tandon
shall have the exclusive right to select, employ, pay, supervise, administer, direct and discharge any of its employees who will
perform Services. Tandon shall be responsible for paying such employees' compensation and providing to such employees any benefits.
With respect to each Service identified in Schedule A, Tandon shall use commercially reasonable efforts to have qualified individuals
participate in the provision of such Service; provided, however, that (i) Tandon shall not be obligated to have any individual
participate in the provision of any Service if either of them determines that such participation would adversely affect Tandon
or any of its Affiliates; and (ii) Neither Tandon nor any of its Affiliates shall not be required to continue to employ any particular
individual during the applicable Service Period. (c) SDJ acknowledges that the purpose of this Agreement is to enable it to receive
the Services on an interim basis. Accordingly, SDJ shall use commercially reasonable efforts to make or obtain, or cause to be
made or obtained, any filings, registrations, approvals, permits or licenses; implement, or cause to be implemented, any systems;
purchase, or cause to be purchased, any equipment; and take, or cause to be taken, any and all other actions, in each case necessary
or advisable to enable SDJ to provide the Services for SDJ as soon as reasonably practical, and in any event prior to the expiration
of the relevant Service Periods. For the avoidance of doubt, SDJ acknowledges that Tandon shall not be required to provide any
Service for a period longer than the applicable Service Period.

 

    	 

    	 

    

 

 

 3. Standard of Performance. (a) Tandon shall use commercially
reasonable efforts to provide, or cause to be provided, to SDJ and the SDJ Affiliates, each Service in a manner generally consistent
with the manner and level of care with which such Service was provided to the Business immediately prior to the SEA Closing Date
(or, with respect to any Service not provided by Tandon to SDJ or any SDJ Affiliate prior to the SEA Closing Date, generally consistent
with the manner and level of care with which such Service is performed by Tandon, for its own behalf), unless otherwise specified
in this Agreement or Schedule A. Notwithstanding the foregoing, Tandon shall not have any obligation hereunder to provide to SDJ
or any SDJ Affiliate (i) any improvements, upgrades, updates, substitutions, modifications or enhancements to any of the Services
unless otherwise specified in Schedule A or (ii) any Service to the extent that the need for such Service arises, directly or
indirectly, from the acquisition by SDJ or any SDJ Affiliate, outside the ordinary course of business, of any assets of, or any
equity interest in, any Person. SDJ acknowledges and agrees that Tandon may be providing services similar to the Services provided
hereunder and/or services that involve the same resources as those used to provide the Services to its business units and/or other
third parties, and, accordingly, Tandon reserves the right to modify any of the Services or the manner in which any of the Services
are provided in the ordinary course of business; provided, however, that no such modification shall materially diminish the Services
or have a materially adverse effect on the Business. (b) Tandon will use commercially reasonable efforts not to establish priorities,
as between, on the one hand, and SDJ and the SDJ Affiliates, on the other hand, as to the provision of any Service, and will use
commercially reasonable efforts to provide the Services within a time frame so as not to materially disrupt the Business. Notwithstanding
the foregoing, SDJ acknowledges and agrees that, due to the transitional nature of the Services, Tandon shall have the right to
establish reasonable priorities as between Tandon, on the one hand, and SDJ and the SDJ Affiliates, on the other hand, as to the
provision of any Service if Tandon determines that such priorities are necessary to avoid any adverse effect to Tandon. If any
such priorities are established, Tandon shall advise SDJ as soon as possible of any Services that will be delayed as a result
of such prioritization, and will use commercially reasonable efforts to minimize the duration and impact of such delays. 4. Fees
for Services. (a) As compensation for the Services, SDJ and Tandon agree that (i) there shall be no charge to SDJ for the period
from January 1, 2012 through that date which is thirty (30) days following the Closing Date (the “Effective Billing Date”)
and (ii) from the Effective Billing Date through the end of the Service Period, SDJ shall pay Tandon, in accordance with this
Agreement, Tandon’s actual costs of rendering the Services. (b) In addition to the compensation set out in subparagraph
(a) above, Tandon shall be entitled to reimbursement for reasonable and customary out-of-pocket expenses incurred in connection
with this Agreement. (c) Tandon shall submit statements of account to SDJ on a quarterly basis with respect to all amounts payable
by SDJ to Tandon hereunder (the “Invoiced Amount”), setting out the Services provided by reference to Schedule A and
the amount billed to SDJ as a result of providing such Services, together with, in arrears, any Commingled Invoice Statement (as

 

    	 

    	 

    

 

 

 defined below), and any other invoices for Services provided
by third parties, in each case setting out the Services provided by the applicable third parties by reference to Schedule A).
SDJ shall pay the Invoiced Amount to Tandon by wire transfer in immediately available funds to an account specified by Tandon,
or in such other manner as specified by Tandon in writing, within 30 days of the date of delivery to SDJ of the applicable statement
of account. (d) Tandon may engage third-party contractors, at a reasonable cost, to perform or provide any of the Services or
any secretarial, administrative, telephone, e-mail or other services necessary or ancillary to the Services (collectively, the
“Ancillary Services”) (all of which may be contracted for separately by Tandon on behalf of SDJ) after giving notice
to SDJ, reasonably in advance of the commencement of such Services and Ancillary Services to be so provided by such contractors,
of the identity of such contractors, each Service and Ancillary Service to be provided by such contractors and a good faith estimate
of the cost (or formula for determining the cost) of the Services and Ancillary Services to be so provided by such contractors.
SDJ may, in its sole discretion, decline to accept any such Services or Ancillary Services to be provided by any such contractors
by giving prompt written notice to Tandon, provided that, if SDJ so declines any Service or Ancillary Service from any such contractors,
then thereafter, notwithstanding anything in this Agreement to the contrary, Tandon shall be excused from any obligation to provide
such Service or Ancillary Service. (e) Tandon may cause any third party to which amounts are payable by or for the account of
SDJ in connection with Services or Ancillary Services to issue a separate invoice to SDJ for such amounts. SDJ shall pay or cause
to be paid any such separate third party invoice in accordance with the payment terms thereof. Any third party invoices that aggregate
Services or Ancillary Services for the benefit of SDJ and Tandon, on the one hand, with services not for the benefit of SDJ and
Tandon, on the other hand (each, a “Commingled Invoice”), shall be separated by Tandon. Tandon shall prepare a statement
indicating that portion of the invoiced amount of such Commingled Invoice that is attributable to Services or the Ancillary Services
rendered for the benefit of SDJ and the SDJ (the “Commingled Invoice Statement”). Tandon shall deliver such Commingled
Invoice Statement and a copy of the Commingled Invoice to SDJ. SDJ shall, within 30 days after the date of delivery to SDJ of
such Commingled Invoice Statement, pay or cause to be paid the amount set forth on such Commingled Invoice Statement to the third
party, and shall deliver evidence of such payment to Tandon. Tandon shall not be required to use its own funds for payments to
any third party providing any of the Services or Ancillary Services or to satisfy any payment obligation of SDJ or any of Affiliates
to any third party provider; provided, however, that in the event Tandon does use its own funds for any such payments to any third
party, SDJ shall reimburse Tandon for such payments as invoiced by Tandon within 30 days following the date of delivery of such
invoice from Tandon. (f) Tandon may, in its discretion and without any liability, suspend any performance under this Agreement
upon failure of SDJ to make timely any payments required under this Agreement beyond the applicable cure date specified in Section
5(d) of this Agreement. 5. Terms; Termination (a) The performance of the Services under this Agreement shall commence on the SEA
Closing Date and shall continue in full force and effect until the end of the last Service Period or the earlier date upon which
this Agreement has been otherwise terminated in accordance with the terms hereof. 

 

    	 

    	 

    

 

 

 (b) During the term of this Agreement, SDJ may instruct
Tandon to discontinue providing certain Services or otherwise reduce its level of such Services upon giving Tandon 30 days prior
written notice. Upon the early termination of any Service pursuant to this Section 5(b) or upon the expiration of this Agreement,
following the effective time of the termination, Tandon shall not be obligated to provide such Service. (c) SDJ may terminate
this Agreement in its entirety upon 30 days prior written notice to Tandon. (d) Each of Tandon and SDJ shall have, in addition
to any other rights and remedies it may have, the right to terminate this Agreement on 30 days' prior written notice to the other,
if the other party shall breach or default in the performance of any material provision of this Agreement; provided, however,
that if it is possible for such breach or default to be cured and the party receiving such notice of termination shall cure such
breach or default within a 30 day period after receipt of such notice, then this Agreement shall continue in full force and effect.
(e) Tandon shall have the right, notwithstanding any other provisions of this Agreement, and in addition to any other rights and
remedies it may have, to terminate this Agreement forthwith and at any time if SDJ becomes insolvent; or if SDJ files a petition
in bankruptcy or insolvency; or if SDJ is adjudicated bankrupt or insolvent; or if SDJ files any petition or answer seeking reorganization,
readjustment or arrangement of SDJ’s business under any law relating to bankruptcy or insolvency; or if a receiver, trustee
or liquidator is appointed for any of the property of SDJ and within 60 days thereof SDJ fails to secure a dismissal thereof;
or if SDJ makes any assignment for the benefit of creditors; or in the event of government expropriation of any material portion
of the assets of SDJ. (f) If SDJ shall fail to pay any financial obligation to Tandon incurred by it under this Agreement within
ten (10) Business Days after notice from Tandon, then Tandon shall have the right, notwithstanding Subsection (d) of this Section
5 or any other provisions of this Agreement, and in addition to any other rights and remedies it may have, to terminate this Agreement
forthwith. (g) In any event, no termination, cancelation or expiration of this Agreement shall prejudice the right of either party
hereto to recover any payment due at the time of termination, cancelation or expiration, nor shall it prejudice any cause of action
or claim of either party hereto accrued or to accrue by reason of any breach or default by the other party hereto. (h) Notwithstanding
any provision herein to the contrary, Sections 4 and 9 of this Agreement shall survive the termination of this Agreement. 6. Intellectual
Property. SDJ grants to Tandon a limited, non-exclusive, fully paid-up, nontransferable, revocable license, without the right
to sublicense, for the term of this Agreement to use all intellectual property owned by or, to the extent permitted by the applicable
license, licensed to SDJ solely to the extent necessary for Tandon to perform its obligations hereunder. 7. Cooperation: Access.
SDJ shall, and shall cause the SDJ Affiliates to, permit Tandon and its employees and representatives access, on Business Days
during hours that constitute regular business hours for SDJ and upon reasonable prior request, to the premises of SDJ and the
SDJ Affiliates and such data, books, records and personnel designated by SDJ and the SDJ Affiliates

 

    	 

    	 

    

 

 

 as involved in receiving or overseeing the Services as
Tandon may reasonably request for the purposes of providing the Services. Any documentation so provided to Tandon pursuant to
this Section will be subject to the confidentiality obligations set forth in Section 9 of this Agreement. 8. Indemnity (a) Neither
of SDJ nor any of the SDJ Affiliates nor any of its or their respective officers, directors, employees, agents, attorneys-in-fact,
contractors or other representatives shall be liable for any action taken or omitted to be taken by SDJ or such person under or
in connection with this Agreement, except that SDJ and the SDJ Affiliates shall be liable for direct damages or losses incurred
by Tandon arising out of the gross negligence or willful misconduct of SDJ or any of the SDJ Affiliates or any of its or their
respective officers, directors, employees, agents, attorneys-in-fact, contractors or other representatives in the performance
or nonperformance of its obligations under this Agreement. (b) Neither Tandon nor any of its officers, directors, employees, agents,
attorneys-in-fact, contractors or other representatives shall be liable for any action taken or omitted to be taken by Tandon
or such person under or in connection with this Agreement, except that Tandon shall be liable for direct damages or losses incurred
by SDJ or the SDJ Affiliates arising out of the gross negligence or willful misconduct of Tandon or any of its respective officers,
directors, employees, agents, attorneys-in-fact, contractors or other representatives in the performance or nonperformance of
the Services by Tandon. 9. Miscellaneous (a) Expenses. All costs and expenses incurred in connection with this Agreement the transactions
contemplated hereby shall be paid by the party incurring such costs and expenses. (b) Notices. All notices, requests, consents,
claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have been given (i) when
delivered by hand (with written confirmation of receipt); (ii) when received by the addressee sent by a nationally recognized
overnight courier (receipt requested); (iii) on the date sent by facsimile or e-mail of a PDF document (with confirmation of transmission)
if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours of the
recipient; or (iv) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage
prepaid. Such communications must be sent to the respective parties at the following addresses (or at such other address for a
party as shall be specified in notice given in accordance with this Section 9(b)): If to Tandon: Tandon Enterprises, Inc. 2125
– B Madera Road Simi Valley, CA 93065 Facsimile: (805) 582-4431 E-mail: dltandon@tandon.com Attention: Devinder L. Tandon,
CEO

 

    	 

    	 

    

 

 

 If to SDJ: SDJ Technologies, Inc. 2125 – B Madera
Road Simi Valley, CA 93065 Facsimile: (805) 582-4431 E-mail: jltandon@monsterdigital.com Attention: Jawahar L. Tandon, CEO (c)
Headings. The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement. (d)
Severability. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity,
illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable
such term or provision in any other jurisdiction. (e) Entire Agreement. This Agreement and the documents to be delivered hereunder
constitute the sole and entire agreement of the parties to this Agreement with respect to the subject matter contained herein,
and supersede all prior and contemporaneous understandings and agreements, both written and oral, with respect to such subject
matter. (f) Taxes. Each party hereto shall be responsible for the cost of any sales, use, privilege and other transfer or similar
taxes imposed upon that party as a result of the transactions contemplated hereby. (g) Public Announcements. No party to this
Agreement shall make, or cause to be made, any press release or public announcement or otherwise communicate with any news media
in respect of this Agreement or the transactions contemplated by this Agreement without the prior written consent of the other
party hereto unless otherwise required by law, in which case the party making the press release, public announcement or communication
shall give the other party reasonable opportunity to review and comment on such and the parties shall cooperate as to the timing
and contents of any such press release, public announcement or communication. (h) Assignment. This Agreement shall inure to the
benefit of and be binding upon the parties hereto and their respective successors and permitted assigns. No party hereto may assign
either this Agreement or any of its rights, interests or obligations hereunder without the prior written approval of the other
party hereto; provided, however, that (i) SDJ may assign this Agreement without the consent of Tandon to any third party that
acquires, by any means, including by merger or consolidation, assets of SDJ or the SDJ Affiliates, including equity interests
in any SDJ Affiliates, that constitute all or substantially all the consolidated assets of SDJ and the SDJ Affiliates and (ii)
Tandon may assign this Agreement without the consent of SDJ to any third party that acquires, by any means, including by merger
or consolidation, all or substantially all the consolidated assets of Tandon. (i) Force Majeure. Neither party hereto shall be
in default of this Agreement by reason of its delay in the performance of, or failure to perform, any of its obligations hereunder
if such delay or failure is caused by strikes, acts of God, acts of the public enemy, acts of terrorism,

 

    	 

    	 

    

 

 

 riots or other events that arise from circumstances beyond
the reasonable control of that party. During the pendency of such intervening event, each of the parties hereto shall take all
reasonable steps to fulfill its obligations hereunder by other means and, in any event, shall upon termination of such intervening
event, promptly resume its obligations under this Agreement. (j) No Third-party Beneficiaries. Except as provided herein, this
Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns and nothing herein,
express or implied, is intended to or shall confer upon any other person or entity any legal or equitable right, benefit or remedy
of any nature whatsoever under or by reason of this Agreement. (k) Amendment and Modification. This Agreement may only be amended,
modified or supplemented by an agreement in writing signed by each party hereto. (1) Waiver. No waiver by any party of any of
the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. No waiver
by any party shall operate or be construed as a waiver in respect of any failure, breach or default not expressly identified by
such written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure
to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement shall operate or be construed
as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any
other or further exercise thereof or the exercise of any other right, remedy, power or privilege. (m) Governing Law. This Agreement
shall be governed by and construed in accordance with the internal laws of the State of California without giving effect to any
choice or conflict of law provision or rule (whether of the State of California or any other jurisdiction) that would cause the
application of laws of any jurisdiction other than those of the State of California (n) Submission to Jurisdiction. Any legal
suit, action or proceeding arising out of or based upon this Agreement or the transactions contemplated hereby may be instituted
in the federal courts of the United States of America or the courts of the State of California in each case located in the city
of Los Angeles and county of Los Angeles, and each party irrevocably submits to the exclusive jurisdiction of such courts in any
such suit, action or proceeding. (o) Waiver of Jury Trial. Each party acknowledges and agrees that any controversy which may arise
under this Agreement is likely to involve complicated and difficult issues and, therefore, each such party irrevocably and unconditionally
waives any right it may have to a trial by jury in respect of any legal action arising out of or relating to this Agreement or
the transactions contemplated hereby. (p) Specific Performance. The parties agree that irreparable damage would occur if any provision
of this Agreement were not performed in accordance with the terms hereof and that the parties shall be entitled to specific performance
of the terms hereof, in addition to any other remedy to which they are entitled at law or in equity. (q) Counterparts. This Agreement
may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one
and the same

 

    	 

    	 

    

 

 

 agreement. A signed copy of this Agreement delivered by
facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original
signed copy of this Agreement.

 

    	 

    	 

    

 

 

 IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized. Tandon Enterprises,
Inc. By: Name: Title: SDJ Technologies, lnc:. By: Name: Title:

 

    	 

    	 

    

 

 

 SCHEDULE A Service Service Period (months) General Accounting
General accounting assistance in the areas of federal and state tax planning and compliance, management of open audits, tax accounting,
audit dispute resolution, calculation of estimated tax payments, tax compliance software selection, and preparation, review and
filing of the federal and state income tax returns. Maintain accounting records and the general ledger in auditable condition.
Process accounts payable transactions and make vendor payments. 12 Billing General billing, payroll and invoicing assistance.
General assistance in the areas of cash management, management of bank lines, and management of cash investments. 12 Human Resources
General assistance in the areas of health and welfare benefit consultant/broker selection, review of bids, selection and monitoring
of vendors, communications with consultants and vendors, claims management and reporting and interpretation of reports. General
assistance in the areas of pension and 401(k), plan design, ERISA guidance, vendor management, communication plans, and associated
auditing and compliance reporting. 12 Purchasing, receiving, and shipping General assistance in issuing purchase orders, receiving
materials, stocking materials, and maintaining inventory records as required. 12 General Insurance Assistance in the selection
of coverage for D&O, Cargo, Liability, Inventory, Property, Workers Compensation and Fiduciary insurance. 12 Fixed Asset acquisitions
General assistance in securing bids for the purchase of computer equipment, computer software, office furniture and equipment,
and related matters. 12 Administration General administration assistance including rental space, secretarial support, utilities,
business licenses and DBA filings. 12Exhibit 10.15

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

This EXECUTIVE EMPLOYMENT
AGREEMENT (“Agreement”) is made and entered into as of this 1st day of June 2012 (the “Effective Date”),
by and between Tandon Digital, Inc., a Delaware corporation (the “Company”), and, Jawahar L. Tandon, an individual
(the “Executive”). Company or Executive are sometimes referred to herein as “party” or collectively
“parties”.

 

RECITALS

 

WHEREAS, by
unanimous consent of its Board of Directors, Company named Executive to serve as Chief Executive Officer to manage the
Company and its day-to-day operations;

 

WHEREAS, Company
desires to enter into an written employment agreement for Executive to continue to serve as Chief Executive Officer of the
Company;

 

WHEREAS, Executive is
willing to be employed by the Company and provide services to the Company under the terms and conditions stated herein, as of the
Effective Date; and

 

WHEREAS, Company and Executive
now mutually desire to enter into this Agreement as approved by the Board of Directors.

 

NOW, THEREFORE, in consideration
of the mutual covenants and agreements hereinafter contained, and for other good and valuable consideration, it is hereby agreed
by and between the parties hereto as follows:

 

1.           Duties
and Responsibilities

 

1.1           Employment.
The Company hereby employs Executive as the Chief Executive Officer of the Company and Executive hereby accepts such employment
as of the Effective Date pursuant to the terms, covenants and conditions set forth herein. Executive shall also serve as the Chief
Executive Officer of the principal operating subsidiaries of the Company. Executive shall report directly to the Board of Directors
of the Company (the “Board”).

 

1.2           Duties.
Executive shall have the overall responsibility as Chief Executive Officer for the management and operation of the Company and
its subsidiaries, and shall perform all duties and responsibilities and have such powers which are commonly incident to the position
of Chief Executive Officer, as well as any additional responsibilities and authority as may be from time to time assigned or delegated
to him by the Board of Directors. Executive shall perform the duties assigned to him to the best of his ability and in a manner
satisfactory to the Company.

 

1.3           Time
and Efforts. Executive shall devote his full business time, efforts, attention, and energies to the business of the Company
and to the performance of his duties hereunder during the Term.

 

     

     

    

 

1.4           Confidential
Information and Trade Secrets. Executive acknowledges that, as a condition of his employment hereunder, Executive agrees to
execute and abide by the Company’s confidentiality, non-disclosure, invention assignment, and similar agreements that are presented
to Executive to protect the Company’s trade secret, proprietary and business interests. Executive hereby acknowledges and agrees
that such agreements shall survive termination of employment and this Agreement and shall remain in force following such termination
regardless of the reason for the termination.

 

1.5           Compliance
with Law. Executive agrees to comply with any and all governmental laws, regulations, and policies in connection with his actions
as an employee of the Company. Executive shall conduct himself in accordance with the highest business standards as are reasonably
and customarily expected of such position.

 

2.           Term

 

The term of employment
under this Agreement shall be for a period of three (3) years commencing on the Effective Date (the “Initial Term”),
and this Agreement will then be renewed automatically for additional one (1) year periods commencing on the last date of the Initial
Term, and on each one (1) year anniversary date thereafter (each subsequent one year period together with the Initial Term, hereinafter
collectively the “Term”), unless either the Company or Executive provides the other party with written notice
at least sixty (60) days prior to the last date of the Initial Term or any subsequent Term stating that the Agreement will not
be renewed. In connection with any notice of non-renewal pursuant to this Section 2, the Executive’s termination date of
employment will be the last date of the applicable Term and Executive will not be eligible or entitled to receive any severance
pay or post-termination benefits that may otherwise be provided under this Agreement. Notwithstanding the above, either party
may terminate this Agreement at any time during the Term pursuant to the applicable provisions of Section 5 of this Agreement.

 

3.           Compensation
and Benefits

 

As the total consideration
for Executive’s services rendered hereunder, Executive shall be entitled to the following:

 

3.1           Base
Salary. Executive shall be paid an initial annual base salary of Two Hundred Fifty Thousand Dollars ($250,000.00) per
year (“Base Salary”) beginning on the Effective Date of the Agreement and payable in regular installments
in accordance with the customary payroll practices of the Company. Executive’s Base Salary will be reviewed at least annually
by the Company and may be increased at the discretion of the Company. The Base Salary may not be decreased, except upon a
mutual written agreement between the parties.

 

3.2           Annual
Performance Bonus. In addition to Base Salary, Executive shall be eligible to receive an annual bonus based upon
Executive’s performance for the preceding year as determined by the Board of Directors or the Compensation Committee of the
Company, in their sole discretion, the determination of which shall be based upon such standards, guidelines and factual
circumstances as the Board of Directors or its Compensation Committee deems relevant, including, without limitation, the
operating results for the Company during such calendar year, the importance of the efforts of Executive in achieving such
operating results and the achievement by the Company and/or Executive of performance goals previously established by the
Board of Directors for such contract year. The performance bonus review for Executive shall occur at such times consistent
with the Company’s compensation policy and procedures for executive officers. The annual performance bonus shall be up to
thirty (30%) of the Base Salary.

 

    2 

     

    

 

3.5           Reimbursement
of Expenses. Executive shall be reimbursed for reasonable travel, hotel, entertainment, and other business related
expenses. All reimbursement of expenses are subject to the Company’s policies in effect at the time on pre-approval of
certain business expenses and reimbursement procedures. Executive shall produce satisfactory supporting receipts and other
documentation in connection with such expenses before such reimbursement is made in accordance with applicable Company
policy.

 

3.6           Company
Automobile. The Company shall make available to the Executive a mutually agreeable company automobile (the lease amount
of which is not to exceed $2,000.00 per month) for the use by the Executive in the performance of his duties and the Company
shall pay directly or, upon presentation of itemized receipts, reimburse the Executive, for all expenses reasonably incurred
by the Executive in the operation of such automobile, including but not limited to insurance, maintenance, repairs, fuel,
registration, mileage overages and other operating costs.

 

3.7           Vacation.
Executive shall be entitled to accrue six (6) weeks of paid vacation each year pursuant to the terms and provisions of the
Company’s vacation leave policies as in effect from time to time.

 

3.8           Country
Club Membership. The Company agrees to pay for the monthly dues for a personal membership at a mutually agreeable country
club (not to exceed $1,500) and to reimburse Executive for any reasonable business-related costs associated therewith.
Personal expenses will not be reimbursed.

 

3.9           Benefits.
Executive shall be entitled to participate in and receive all benefits made available by the Company to its Executives,
including without limitation, medical, dental, vision, life and disability insurance plans and coverage, and defined benefit,
defined contribution or other 401K program, including all company matching provisions, as applicable. The Company shall pay
100% of the insurance premiums for the medical/dental/vision coverage for Executive and his dependents.

 

4.           Indemnification

 

Company agrees to hold
harmless and indemnify the Executive to the fullest extent permitted by law, as such may be amended from time to time, with respect
to any acts or nonaction the Executive may have committed during his employment in his capacity as the Chief Executive Officer
and President of the Company. Additional terms of the indemnification shall be set in an indemnification agreement to be executed
by the Company and the Executive.

 

5.           Termination

 

Executive’s employment shall terminate upon
the happening of the following:

 

    3 

     

    

 

5.1           Termination
For Cause. The Company may terminate this Agreement for Cause if the Board of Directors determines that Cause exists. For
purposes of this Agreement, “Cause” shall mean:

 

(a)          A
proven act of dishonesty, fraud, embezzlement, or misappropriation of proprietary information in connection with the Executive’s
responsibilities as an Executive;

 

(b)          Executive’s
conviction of, or plea of nolo contendere to, a felony or a crime involving moral turpitude;

 

(c)          Executive’s
willful misconduct in connection with his employment duties that is detrimental to the Company and which cannot be cured on reasonable
notice to Executive; or

 

(d)          Executive’s
habitual failure or refusal to perform his employment duties under this Agreement if such failure or refusal is not cured by Executive
within twenty (20) days after receiving written notice thereof from the Board of Directors.

 

For purposes hereof, no act
or failure to act by the Executive shall be considered “willful” unless done or omitted to be done by him not in good
faith or without reasonable belief that his action or omission was in the best interest of the Employer or contrary to a formal
resolution of the Board.

 

5.2           Termination
Without Cause.

 

(a)          The
Company may terminate this Agreement Without Cause. For purposes of this Agreement, “Without Cause” shall mean termination
by the Company of Executive’s employment for any reason, other than as specified in Sections 5.1 or 5.3 hereof.

 

(b)          The
Company may terminate the employment of Executive and all of the Company’s obligations hereunder at any time during the Term of
Employment “Without Cause” by giving Executive written notice of such termination, to be effective thirty (30) days following
the giving of such written notice, in which case Executive shall receive the compensation, severance and benefit continuation required
by Section 6.3 below.

 

5.3           Termination
Due to Disability or Death. Executive’s employment hereunder may be terminated by the Company as follows:

 

(a)          To
the extent permitted by law, upon thirty (30) days’ notice to Executive in the event that Executive has been unable to perform
substantially all of his duties under this Agreement for an aggregate of 120 days (inclusive of weekends and holidays) within any
12-month period, as the result of Executive’s incapacity to perform the essential functions of his job due to a physical or mental
disability and after reasonable accommodation made by the Company, and within thirty (30) days of receipt of such notice, Executive
shall not have returned to the full-time, continuing performance of his duties hereunder, or

 

(b)          Immediately
upon the death of Executive.

 

    4 

     

    

 

5.4           Termination
by Executive for Good Reason. Executive may terminate the Agreement for “Good Reason”. Executive’s termination
shall be for “Good Reason” if Executive provides written notice to the Company of the Good Reason within ninety
(90) days of the event constituting Good Reason, and provides the Company with a period of thirty (30) days to cure the Good
Reason and the Company fails to cure the Good Reason within that period. For purposes of this Agreement, “Good
Reason” shall mean any of the following events if the event is effected by the Company or third-parties without
Executive’s consent: (i) a reduction of more than 10% in Executive’s Base Salary or other component of compensation and
benefits, except for changes to the Company’s generally applicable benefit plans and policies; (ii) a change in the location
of the business requiring Executive to move or drive to work more than 50 miles from the current location; (iii) any material
diminution of Executive’s authority, responsibilities, reporting or job duties (except for any reduction for Cause as defined
above); or (iv) any other material breach by the Company of this Agreement. Executive may terminate his employment at any
time for Good Reason as provided in this Section 5.4, in which case Executive shall receive the compensation, severance and
benefit continuation required by Section 6.3 below.

 

5.5           Voluntary
Termination. Executive’s employment hereunder may be terminated by Executive for any reason (other than by Termination
Due to Disability or Death or for Good Reason) upon Executive providing Company with thirty (30) days’ notice of Executive’s
voluntary termination.

 

6.          Effect
of Termination

 

6.1           Termination
For Cause or Voluntary Termination. In the event that Executive’s employment is terminated pursuant to Sections 5.1 or
5.5 above:

 

(a)          The
Company shall pay to Executive, or his representatives, on the date of termination of employment (the “Termination
Date”) only that portion of the Base Salary provided in Section 3.1 that has been earned to the Termination Date,
and any accrued but unpaid Vacation pay provided in Section 3.7, and any expense reimbursements due and owing to Executive as
of the Termination Date; and

 

(b)          Executive
shall not be entitled to (i) any other salary or compensation, (ii) the Annual Performance Bonus pursuant to Section 3.2, nor (iii)
any Benefits pursuant to Sections 3.6, 3.8, or 3.9, except for benefit continuation under COBRA or similar state or federal legislation.

 

6.2           Termination
Due to Disability or Death. In the event Executive’s employment is terminated pursuant to Section 5.3 above, the Company
shall pay to Executive, or his representatives, all of the following:

 

(a)          The
payments, if any, referred to in Section 6.1(a) above as of the Termination Date;

 

(b)          An
amount equal to the full year targeted Annual Performance Bonus referenced in Section 3.2 above for the calendar year in which
the Termination Date occurs, less applicable statutory deductions and tax withholdings, to be paid within thirty (30) days of the
Termination Date; and

 

    5 

     

    

 

(c)          If
Executive elects benefit continuation under COBRA or similar state or federal legislation for the available Benefits provided in
Section 3.9, Company shall pay or reimburse the COBRA premiums for a period of up to six (6) months commencing on the Termination
Date, provided that Executive remains eligible for COBRA continuation coverage.

 

6.3           Termination
Without Cause or for Good Reason. In the event Executive’s employment is terminated pursuant to Sections 5.2 or 5.4
above, the Company shall pay Executive on the date of Termination the payments referred to in Section 6.1(a) above, and
provided that, within sixty (60) days of the Termination Date, Executive signs a binding release of all claims relating to
his employment in the standard form then being used by the Company, substantially in the form attached hereto as Exhibit
A, Executive shall also receive all of the following:

 

(a)          A
severance payment equal to the unpaid portion of Executive’s Base Salary for the remainder of the Term of this Agreement, with
such payment being made in a single lump sum immediately upon the release becoming effective; and

 

(b)          If
Executive elects benefit continuation under COBRA or similar state or federal legislation for the available Benefits provided in
Section 3.6, Company shall pay or reimburse the COBRA premiums for a period of up to six (6) months commencing on the Termination
Date, provided that Executive remains eligible for COBRA continuation.

 

7.           Assignment

 

This
Agreement is personal in nature, and neither this Agreement nor any part of any obligation herein shall be assignable by Executive.
The Company shall be entitled to assign this Agreement to any affiliate of the Company or any person or entity that assumes the
ownership and control of the business of the Company. This Agreement shall inure to the benefit of and shall be binding upon the
Company, its successors and assigns.

 

8.           Severability

 

Should any term, provision,
covenant or condition of this Agreement be held to be void or invalid, the same shall not affect any other term, provision, covenant
or condition of this Agreement, but such remainder shall continue in full force and effect as though each such voided term, provision,
covenant or condition is not contained herein.

 

    6 

     

    

 

9.           Governing
Law and Submission to Jurisdiction 

 

This Agreement shall be
governed by and construed in accordance with the laws of the State of California applicable to contracts made and to be carried
out in California. Subject to the Binding Arbitration provision of this Agreement as set forth below, and without in any way limiting
the applicability of binding arbitration, each of the parties submits to the exclusive jurisdiction of any state or federal court
sitting in Los Angeles County, California in any action or proceeding arising out of or relating to this Agreement and further
agrees that all claims in respect of the action or proceeding may be heard and determined in any such court to the extent that
any court proceeding is necessary in connection with the Binding Arbitration provision below, and further agrees not to bring any
action or proceeding arising out of or relating to this Agreement in any other court. Each of the parties agrees that a final judgment
in any action or proceeding so brought shall be conclusive and may be enforced by suit on the judgment or in any other manner so
provided by law.

 

10.         Binding
Arbitration

 

Any and all disputes
which involve or relate in any way to this Agreement and/or to Executive’s employment or termination of employment with
the Company, whether initiated by Executive or by the Company and whether based on contract, tort, statute, or common law, shall
be submitted to and resolved by final and binding arbitration as the exclusive method for resolving all such disputes. The arbitration
shall be private and confidential and conducted in Los Angeles, California pursuant to the Federal Arbitration Act and applicable
California law, and pursuant to the applicable rules of the American Arbitration Association (“AAA”) relating
to employment disputes, unless the parties otherwise mutually agree to modify the AAA Rules. A copy of the AAA Employment Rules
are available for review at www.adr.org/employment and are incorporated herein by reference.

 

The party demanding arbitration
shall submit a written claim to the other party, setting out the basis of the claim or claims, within the time period of any applicable
statute of limitations relating to such claim(s). If the parties cannot mutually agree upon an Arbitrator, then the parties shall
select a neutral Arbitrator through the procedures established by the AAA. The Arbitrator shall have the powers provided under
the California Code of Civil Procedure relating to the arbitration of disputes, except as expressly limited or otherwise provided
in this Agreement. The parties shall have the right to reasonable discovery as mutually agreed or as determined by the Arbitrator,
including at least one deposition each, it being the goal of the parties to resolve any disputes as expeditiously and economically
as reasonably practicable. The parties agree to equally share in the payment of the administration costs of the AAA arbitration,
including payment of the fees for the Arbitrator, and any other costs directly related to the administration of the arbitration.
The parties shall otherwise be responsible for their own respective costs and attorneys fees relating to the dispute, such as deposition
costs, expert witnesses and similar expenses, except as otherwise provided in this Agreement to the prevailing party.

 

The Arbitrator may award,
if properly proven, any damages or remedy that a party could recover in a civil litigation, and shall award costs and reasonable
attorneys fees to the prevailing party as provided by law. The award of the Arbitrator shall be issued in writing, setting forth
the basis for the decision, and shall be binding on the parties to the fullest extent permitted by law, subject to any limited
statutory right to appeal as provided by law. Judgment upon the award of the Arbitrator may be entered in any court having proper
jurisdiction and enforced as provided by law.

 

This agreement to arbitrate
is freely negotiated between Executive and the Company and is mutually entered into between the parties. Each party understands
and agrees that they are giving up certain rights otherwise afforded to them by civil court actions, including but not limited
to the right to a jury trial; provided, however, that either party may seek provisional remedies in a court of competent jurisdiction
as provided pursuant to applicable law.

 

    7 

     

    

 

11.         Captions

 

The Section captions herein
are inserted only as a matter of convenience and reference and in no way define, limit or describe the scope of this Agreement
or the intent of any provisions hereof.

 

12.         Compliance
with IRC Section 409A

 

Notwithstanding anything
herein to the contrary, (i) if at the time of Executive’s termination of employment with the Company Executive is a “specified
employee” as defined in Section 409A of the Code, and the deferral of the commencement of any payments or benefits otherwise
payable hereunder as a result of such termination of employment is necessary in order to prevent any accelerated or additional
tax under Section 409A of the Code, then the Company will defer the commencement of the payment of any such payments or benefits
hereunder (without any reduction in such payments or benefits ultimately paid or provided to Executive) until the date that is
six (6) months following Executive’s termination of employment with the Company (or the earliest date as is permitted under Section
409A of the Code) and (ii) if any other payments of money or other benefits due to Executive hereunder could cause the application
of an accelerated or additional tax under Section 409A of the Code, such payments or other benefits shall be deferred if deferral
will make such payment or other benefits compliant under Section 409A of the Code, or otherwise such payment or other benefits
shall be restructured, to the extent possible, in a manner, determined by the Board, that does not cause such an accelerated or
additional tax. In the event that payments under this Agreement are deferred pursuant to this Section 12 in order to prevent any
accelerated tax or additional tax under Section 409A of the Code, then such payments shall be paid at the time specified under
this Section 12 without any interest thereon. The Company shall consult with Executive in good faith regarding the implementation
of this Section 12; provided that neither the Company nor any of its employees or representatives shall have any liability to Executive
with respect thereto. Notwithstanding anything to the contrary herein, a termination of employment shall not be deemed to have
occurred for purposes of any provision of this Agreement providing for the payment of amounts or benefits upon or following a termination
of employment unless such termination is also a “Separation from Service” within the meaning of Section 409A of the Code
and, for purposes of any such provision of this Agreement, references to a “resignation,” “termination,” “termination
of employment” or like terms shall mean Separation from Service. For purposes of Section 409A of the Code, each payment made
under this Agreement shall be designated as a “separate payment” within the meaning of the Section 409A of the Code.
Notwithstanding anything to the contrary herein, except to the extent any expense, reimbursement or in-kind benefit provided pursuant
to this Agreement does not constitute a “deferral of compensation” within the meaning of Section 409A of the Code: (x)
the amount of expenses eligible for reimbursement or in-kind benefits provided to Executive during any calendar year will not affect
the amount of expenses eligible for reimbursement or in-kind benefits provided to Executive in any other calendar year, (y) the
reimbursements for expenses for which Executive is entitled to be reimbursed shall be made on or before the last day of the calendar
year following the calendar year in which the applicable expense is incurred, and (z) the right to payment or reimbursement or
in-kind benefits hereunder may not be liquidated or exchanged for any other benefit

 

    8 

     

    

 

13.        Entire
Agreement

 

This Agreement
contains the entire agreement of the parties relating to the subject matter hereof, and the parties hereto have made no agreements,
representations or warranties relating to the subject matter of this Agreement that are not set forth otherwise herein. In this
regard, each of the parties represents and warrants to the other party that such party is not relying on any promises or representations
that do not appear in writing herein. This Agreement supersedes and replaces any prior agreements that Executive had with the Company.
Each of the parties further agrees and understands that this Agreement can be amended or modified only by a written agreement signed
by all parties.

 

14.        Notice

 

All notices
and other communications under this Agreement shall be in writing and mailed, telegraphed, telecopied, or delivered by hand (by
a party or a recognized courier service) to the other party at the following address (or to such other address as such party may
have specified by notice given to the other party pursuant to this provision):

 

If to the Company:

 

Tandon Digital, Inc.

Chief Financial Officer

2125 B Madera Road

Simi Valley, CA 93065

Attn: 2125 B Madera Road

Simi Valley, CA 93065

 

with copy to

 

K&L
Gates LLP

10100 Santa Monica Blvd., 7th Floor

Los Angeles, California 90067

Attn: Thomas J. Poletti, Esq.

 

If to Executive:

 

At current home address on file with
the Company

 

15.        Attorney’s
Fees 

 

In
the event that any party shall bring an action or proceeding in connection with the performance, breach or interpretation of this
Agreement, then the prevailing party in any such action or proceeding, as determined by the arbitrator, court or other body having
jurisdiction, shall be entitled to recover from the losing party all reasonable costs and expenses of such action or proceeding,
including reasonable attorneys’ fees, court costs, costs of investigation, expert witness fees and other costs reasonably related
to such action or proceeding.

 

[Signatures to follow]

 

    9 

     

    

 

IN WITNESS
WHEREOF, this Agreement is executed as of the day and year first above written.

 

	 	“COMPANY”
	 	 
	 	Tandon Digital, Inc.
	 	 
	By:  	/s/ Devinder L. Tandon
	 	 
	Name:  	Devinder L. Tandon
	 	 
	Its:  	Director

 

	 	“EXECUTIVE”
	 	 
	By:  	/s/ Jawahar L. Tandon
	 	Jawahar L. Tandon

 

    10

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