Document:

Exhibit 10.7

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT
(the “Agreement”) is made and entered into as of February 12, 2015, by and between Microphase Corporation, a
Connecticut corporation with its principal place of business located at 587 Connecticut Ave., Norwalk. Connecticut 06854 (the “Company”),
and Ronald Durando , an individual and resident of the State of New Jersey with an address located at 43 Alexander Avenue, Nutley,
New Jersey 07110 (“Strategic Advisor” and together with the Company, the “Parties” and each, a “Party”).

 

RECITALS

 

A.           Strategic
Advisor was the Company’s Chief Operating Officer.

 

B.           Strategic
Advisor possesses certain knowledge and skills relating to the Company's business, structure and operations that the Company wishes
to retain for the development and success of the Company's business.

 

C.           The
Company wishes to employ Strategic Advisor, and Strategic Advisor wishes to be employed by the Company, on the terms and conditions
contained herein.

 

NOW, THEREFORE, in
consideration of the premises set forth above and for other good and valuable consideration mutually exchanged by the Parties,
the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:

 

1.          Employment;
Duties. The Company hereby employs Strategic Advisor, and Strategic Advisor hereby accepts employment, as Strategic Advisor, subject to the terms and conditions set forth in this Agreement. As Strategic Advisor, Strategic Advisor shall devote adequate
time and efforts to the performance of his duties hereunder, under his sole discretion. Notwithstanding the foregoing, the expenditure
of reasonable amounts of time by Strategic Advisor for the making of passive personal investments, the conduct of private business
affairs, including without limitation, acting as an executive officer or consultant of mPhase Technologies, Inc. and charitable
activities shall be allowed, provided that such activities do not materially interfere with the services required to be
rendered to the Company hereunder and do not violate the restrictive covenants set forth herein.

 

2.          Employment
Period. The term of Strategic Advisors employment hereunder, unless sooner terminated as provided herein (the “Initial
Term”), shall be for a period of thirty-six (36) months, having commenced on February 1, 2015 (the “Commencement
Date”) and ending on February 1, 2018. The term of this Agreement shall automatically be extended for additional terms
of one (1) year each (each a “Renewal Term”), unless either Party gives prior written notice of non-renewal
(“Non-Renewal Notice”) to the other Party no later than sixty (60) days prior to the expiration of the then
current Term (as defined herein). For purposes of this Agreement, the Initial Term and any Renewal Term are hereinafter collectively
referred to as the “Term”.

 

    	 

    	 

    

 

3.          Compensation
of Strategic Advisor.

 

(a)          Fees
for Services. In consideration of the services rendered by the Strategic Advisor (the “Services”) and Strategic
Advisor’s other obligations under this Agreement, the annual base compensation for this position will be $225,000. Such compensation
shall be payable in such installments as the Company pays its other employees.

 

(b)          Expenses.
Pursuant to the Company’s customary policies in force at the time of payment, Strategic Advisor shall be promptly reimbursed,
against presentation of vouchers or receipts therefor, for all expenses properly and reasonably incurred by Strategic Advisor on
behalf of the Company in the performance of Strategic Advisor’s duties hereunder.

 

(c)          Benefits.
Strategic Advisor shall be entitled to participate in such pension, profit sharing, group insurance, hospitalization, and group
health (for Strategic Advisor and his immediate family) and benefit plans and all other benefits and plans, including perquisites,
if any, as the Company provides to its senior executives (the “Benefit Plans”).

 

(d)          Vacation
Benefits. During the Employment Period, the Strategic Advisor shall be entitled to receive vacation benefits in accordance
with the Company’s applicable policies and procedures in effect as of the Effective Date of this Agreement, or which becomes
effective during the Term of this Agreement and/or any renewal or extension period thereafter. Subject to said vacation policies
and procedures, the Strategic Advisor shall be entitled to receive four (4) weeks of Company paid vacation, per year.

 

4.          Indemnification.
 The Company agrees to indemnify the Strategic Advisor to the maximum extent permitted by the Company’s Articles of Incorporation
or Bylaws. Indemnification of the Strategic Advisor to be on terms determined by the Board, or any of its authorized Committees,
but on terms no less favorable than provided to any other Company executive, officer or director, and subject further to the terms
of any separate written Indemnification Agreement. Termination and Forfeiture of Payments and Benefits.

 

(a)          Termination
by Company for Cause. Strategic Advisor’s employment with the Company may be terminated at any time by the Company for
Cause. Upon such a termination, the Company shall have no obligation to Strategic Advisor pursuant to this Agreement other than
the payment of Strategic Advisor's earned and unpaid compensation, vested and accrued benefits under the Company's ERISA-based
plans and accrued but unreimbursed expenses pursuant to Section 3(d) (collectively, the “Accrued Obligations”)
to the effective date of such termination.

 

For purposes of this Agreement, the term
“Cause” shall mean any of the following:

 

(i)          Strategic
Advisor’s willful failure to perform his duties or Strategic Advisor’s bad faith in connection with the performance
of his duties, following written notice from the Board, or its designee, detailing the specific acts and a thirty (30) day period
of time to remedy such failure:

 

(ii)         Strategic
Advisor engaging in any misconduct, negligence, act of dishonesty, violence or threat of violence that is injurious to the Company;

 

    	2

    	 

    

 

(iii)        Strategic
Advisor’s material breach of a written policy of the Company, which policy has been provided to Strategic Advisor, or the
existence of which Strategic Advisor should reasonably have known, in connection with his employment, which breach is not remedied
(if susceptible to remedy) following written notice by the Board, or its designee, detailing the specific breach and a thirty (30)
day period of time to remedy such breach;

 

(iv)        Any
material breach by Strategic Advisor of this Agreement, which breach is not remedied (if susceptible to remedy) following written
notice by the Board, or its designee, detailing the specific breach and a thirty (30) day period of time to remedy such breach;
or

 

(v)         Strategic
Advisor’s conviction of a felony or crime involving dishonesty or moral turpitude, or which reflects negatively upon the
Company or impairs or impedes its operations.

 

(b)          Permanent
Disability. If during his employment with the Company, (i) Strategic Advisor becomes ill, mentally or physically disabled,
or otherwise incapacitated so as to be unable regularly to perform the duties of his position for a period in excess of 90 consecutive
days or more than 180 days in any consecutive 12-month period, or (ii) a qualified independent physician determines that Strategic
Advisor is mentally or physically disabled so as to be unable to regularly perform the duties of his position and such condition
is expected to be of a permanent duration (a “Permanent Disability”), then the Company shall have the right
to terminate Strategic Advisor’s employment with the Company upon written notice to Strategic Advisor. Upon such a termination,
the Company shall have no obligation to Strategic Advisor other than (i) the payment of the Accrued Obligations; (ii) all Options
which have vested as of the date of termination; and (iii) Severance, as that term is defined in Paragraph 4(d).

 

(c)          Death.
Strategic Advisor’s employment with the Company shall be deemed terminated by the Company upon the death of the Strategic
Advisor, and the Company shall have no obligation to the Strategic Advisor or the Strategic Advisor's estate other than (i) the
payment of the Accrued Obligations; (ii) all Options which have vested as of the date of death; and (iii) Severance, as that term
is defined in Paragraph 4(d).

 

(d)          Termination
by the Company without Cause. Strategic Advisor's employment with the Company may be terminated at any time by the Company
without Cause, upon the Board's approval, by a majority vote of the Board members in favor of such termination. In the event that
Strategic Advisor's employment with the Company is terminated by the Company without Cause, the Company shall have no obligation
to Strategic Advisor other than (subject to Strategic Advisor’s continued compliance with his obligations under this Agreement):
(i) the payment of the Accrued Obligations (and any rights under the Stock Option Agreement that survive such termination, including
the understanding that any portion of the Options that have not vested as of the date of termination, shall vest in full as of
the date of such termination); and (ii) a continuation of the Strategic Advisor’s Base Salary (at the rate in effect at the
time of such termination) for a period of time commencing on the date of termination and ending on the date that is 12 months after
such date of termination (“Severance”)

 

    	3

    	 

    

 

(e)         Termination
by Strategic Advisor for Good Reason.

 

(i)          Strategic
Advisor's employment with the Company may be terminated at any time by Strategic Advisor for Good Reason. In the event that
Strategic Advisor terminates his employment with the Company for Good Reason. Strategic Advisor shall be entitled to the same
Accrued Obligations, Option vesting, and Severance that he would have been entitled to receive under Section 4(d) as if his
employment were terminated by the Company without Cause.

 

(ii)         For
purposes of this Agreement, the term “Good Reason” shall mean either any material breach of this Agreement by the Company
which remains in effect thirty (30) days after written notice is provided by Strategic Advisor to Company detailing such condition
or event of breach, or a material change in Strategic Advisor’s position, duties and responsibilities. The above notwithstanding,
if Strategic Advisor’s Compensation does not decrease resulting from such material change, then such material change shall
not be deemed “Good Reason” for termination purposes.

 

(f)          Termination
by Strategic Advisor without Good Reason. The Strategic Advisor may voluntarily resign from his employment with the Company
without Good Reason, provided that Strategic Advisor shall provide the Company with ninety (90) days’ advance written
notice (which notice requirement may be waived, in whole or in part, by the Company in its sole discretion) of his intent to terminate.
Upon such a termination, the Company shall have no obligation other than the payment of the Accrued Obligations to the effective
date of such termination. Any Options which have not vested on the date of termination shall be deemed to be null and void.

 

(g)          Release
of Claims. As a condition to receiving the payments set forth in Section 4(d) or Section 4(e) upon a termination by the Company
without Cause or by Strategic Advisor for Good Reason, Strategic Advisor shall be required to execute and not revoke a waiver and
release of claims, in a form provided by the Company.

 

5.          Covenants.

 

(a)          Confidentiality.

 

(i)          Proprietary
Information. Strategic Advisor understands and acknowledges that, during the course of his employment with the Company. Strategic
Advisor shall create and has created, as well as shall be granted and has been granted access to. certain valuable information
relating to the business of the Company that provides the Company with a competitive advantage (or that which could be used to
the disadvantage of the Company by a Competitive Business, as defined herein), which is not generally known by, nor easily learned
or determined by, persons outside the Company (collectively referred to herein as “Proprietary Information”)
including, but not limited to: Developments (as defined herein), the Company’s products, applications, methods, trade secrets
and other intellectual property, the research, development, procedures, manuals, confidential reports, technical information, financial
information, business plans, prospects of opportunities, purchasing, operating and other cost data, employee information (including,
but not limited to, personnel, payroll, compensation and benefit data and plans), including all such information recorded in manuals,
memoranda, projections, reports, minutes, plans, drawings, sketches, designs, formula books, data, specifications, software programs
and records, whether or not legended or otherwise identified by the Company as Proprietary Information, as well as such information
that is the subject of meetings and discussions and not recorded. Proprietary Information shall not include such information that
Strategic Advisor can demonstrate is generally available to the public (other than as a result of a disclosure by Strategic Advisor).

 

    	4

    	 

    

 

(ii)         Duty
of Confidentiality. Strategic Advisor agrees at all times, both during and after Strategic Advisor’s employment with
the Company, (i) to hold all Proprietary Information in a confidential manner for the benefit of the Company, to reasonably safeguard
all such Proprietary Information; and (ii) to adhere to any non-disclosure, confidentiality or other similar agreements to which
Strategic advisor or the Company is or becomes a party or subject thereto. Strategic Advisor also agrees that he shall not, directly
or indirectly, disclose any such Proprietary Information to. or use such Proprietary Information for the benefit of. any third
person or entity outside the Company, except to persons identified in writing by the Company. Strategic Advisor further agrees
that, in addition to enforcing this restriction, the Company may have other rights and remedies under the common law or applicable
statutory laws relating to the protection of trade secrets.

 

(iii)        Third-Parties,
and Goodwill. Strategic Advisor acknowledges that all Company distributors, representatives, agents, licensees and third-parties
(“Other Third Parties”) that the Strategic Advisor interacts and works with while employed by Company,
are doing business with the Company and not with the Strategic Advisor, personally, and that in the course of dealing with Third
Parties, the Company has established goodwill with respect to each such Third Party that is created and maintained at the Company’s
expense (“Third-Party Goodwill”). Strategic Advisor also acknowledges that, by virtue of his employment
with the Company, he has gained or will gain knowledge of the business needs of. and other information concerning, the Third Parties,
and that Strategic Advisor will inevitably have to draw on such information if Strategic Advisor solicits or provides services
to any Third Parties on his own behalf or on behalf of a Competitive Business. For purposes of this Agreement, “Competitive
Business” shall mean any enterprise engaged in the RF & Microwave business that is substantially similar to that
which the Company is engaged, or plans to be engaged, so long as Strategic Advisor is directly involved in such business or planned
business on behalf of the Company.

 

(iv)        Nondisparagement.
The Strategic Advisor agrees that at no time during his employment by the Company or thereafter, shall he make, or cause or assist
any other person to make, any statement or other communication to any third party which impugns or attacks, or is otherwise critical
of, the reputation, business or character of the Company or any of its respective directors, officers or employees.

 

    	5

    	 

    

 

(b)          Restrictions
on Solicitation. Strategic Advisor shall not, directly or indirectly, without the prior written consent and approval of
the Company, (i) interfere with or attempt to interfere with the relationship between any person who is, or was during
the then most recent three (3) month period, an employee, agent, representative or independent contractor of the Company, or
solicit, induce or attempt to solicit or induce any of them to leave the employ or service of the Company or to violate the
terms of their respective contracts, agreements or any employment arrangements with the Company; or (ii) induce or attempt to
induce any customer, client, supplier, distributor, licensee or other business relation of the Company to cease doing
business with the Company, or in any way interfere with the contract or relationship between the Company and any customer,
client, supplier, distributor, licensee or other business relation of the Company. As used herein, the term
“indirectly” shall include, without limitation. Strategic Advisor’s permitting the use of Strategic
Advisor’s name by any Competitive Business to induce or interfere with any employee or business relationship of the
Company.

 

(c)          Restrictions
on Strategic Advisor’s Competitive Employment. In order to protect the Company’s Proprietary Information
and Third-Party Goodwill, Strategic Advisor acknowledges and agrees that in the event this Agreement is terminated for
any reason, then, from the date of such termination, or from the last date upon which Severance is paid to Strategic Advisor, whichever is later, and for a period of one (1) year thereafter, the Strategic Advisor shall not. without
the Company’s express written consent, directly or indirectly, own, control, manage, operate, participate in, be
employed by, permit the use of his name with, or act for or on behalf of, any Competitive Business which competes directly
with the Company and its RF & Microwave devices and products. The Strategic Advisor agrees that the restriction on
competitive employment contemplated herein is necessary and reasonable in order to protect the Company in the conduct of
its business.

 

(d)          Assignment
of Developments.

 

(i)          Strategic
Advisor acknowledges and agrees that all developments, including, without limitation, the creation of new products,
devices, inventions, discoveries, concepts, ideas, improvements, patents, trademarks, trade names, trade dress, service
marks, copyrights, domain names, trade secrets, designs, works, reports, computer software or systems, flow charts,
diagrams, procedures, data, documentation, and writings and applications thereof, including all results and proceeds of the
foregoing, relating to the Business or future business of the Company that Strategic Advisor, alone or jointly with others,
has discovered, suggested, conceived, created, made, developed, reduced to practice, or acquired during Strategic
Advisor's employment with or as a result of Strategic Advisor's employment with the Company
(collectively. “Developments”) are being prepared by Strategic Advisor as an employee of the Company
within the scope of Strategic Advisor's employment and shall be considered as “works made for hire” and shall
remain the sole and exclusive property of the Company, free of any reserved or other rights of any kind on Strategic
Advisor's part. If and to the extent the fact that the Developments are works made for hire is not effective to place
ownership of the Developments and all rights therein to the Company, then Strategic Advisor hereby solely, exclusively and
irrevocably assigns and transfers to the Company any and all of his right, title and interest in and to the Developments.
Strategic Advisor agrees to disclose to the Company promptly and fully all future Developments and, at any time upon request
and at the expense of the Company, to execute, acknowledge and deliver to the Company all instruments that the Company shall
prepare and to take any and all other actions that are necessary or desirable, in the reasonable opinion of the Company, to
evidence or effectuate all or any of the Company’s rights hereunder, including executing and delivering patent,
trademark or copyright applications and instruments of assignment to the Company and enabling the Company to file instruments
of assignment for, to file and prosecute applications for, and to acquire, maintain, and enforce, all patents, trademarks or
copyrights covering the Developments in all countries in which the same are deemed necessary by the Company. All data,
memoranda, notes, lists, drawings, records, files, investor and client/customer lists, supplier lists, and other
documentation (and all copies thereof) made or compiled by Strategic Advisor or made available to Strategic Advisor
concerning the Developments or otherwise concerning the past, present, or planned business of the Company are the property of
the Company, and shall be delivered to the Company immediately upon the termination of Strategic Advisor’s employment
with the Company.

 

    	6

    	 

    

 

(ii)         If
any patent, trademark or copyright application is filed by Strategic Advisoror on Strategic Advisor’s behalf during
Strategic Advisor’s employment with the Company or within one (1) year after Strategic Advisor’s leaving the
Company’s employ, describing a Development within the scope of Strategic Advisor’s work for the Company or which
otherwise relates to a portion of the business of the Company, of which the Strategic Advisor had knowledge during Strategic
Advisor’s employment with the Company, it is to be conclusively presumed that the Development was conceived by
Strategic Advisor during the period of such employment.

 

(e)          Remedies.
Strategic Advisor acknowledges that the Company has a compelling business interest in preventing unfair competition stemming
from the intentional or inadvertent use or disclosure of the Company’s Proprietary Information. Strategic Advisor
further acknowledges and agrees that damages for a breach or threatened breach of any of the covenants set forth in this
Section 5 will be difficult to determine and will not afford a full and adequate remedy, and therefore agrees that the
Company, in addition to seeking actual damages in connection therewith and the termination of the Company’s obligations
in Section 4.4 and Section 4.5, may seek specific enforcement of any such covenant in any court of competent jurisdiction,
including, without limitation, by the issuance of a temporary or permanent injunction without the necessity of showing any
actual damages or posting any bond or furnishing any other security, and that the specific enforcement of the provisions of
this Agreement will not diminish Strategic Advisor’s ability to earn a livelihood or create or impose upon Strategic
Advisor any undue hardship. Strategic Advisor also agrees that any request for such relief by the Company shall be in
addition to, and without prejudice to, any claim for monetary damages that the Company may elect to assert.

 

(f)          Rights
to Materials and Return of Materials. All papers, files, notes, correspondence, lists, software, software
code, memoranda, e-mails, price lists, plans, sketches, documents, reports, records, data, research, proposals,
specifications, technical information, models, flow charts, schematics, tapes, printouts, designs, graphics, drawings,
photographs, abstracts, summaries, charts, graphs, notebooks, investor lists, customer/client lists, information on the use,
development and integration of software, information relating to the research, development, preparation, maintenance and sale
of RF & Microwave products or any other such Company created RF & Microwave products and all other compilations of
information, regardless of how such information may be recorded and whether in printed form or on a computer or magnetic disk
or in any other medium (together with all copies of such documents and things) relating to the Business of the Company or
containing Proprietary Information and/or Developments, which Strategic Advisor shall use or prepare or come in contact with
in the course of, or as a result of Strategic Advisor’s employment by the Company shall, as between the parties to
this Agreement, remain the sole property of the Company. Laptop computers, other computers, software and related data,
information and other property provided to Strategic Advisor by the Company or obtained by Strategic Advisor, directly or
indirectly, from the Company, also shall remain the sole property of the Company. Upon the termination of Strategic
Advisor’s employment or upon the prior demand of the Company, Strategic Advisor shall immediately return all such
materials and things to the Company and shall not retain any copies or remove or participate in removing any such materials
or things from the premises of the Company after termination or the Company’s request for return.

 

    	7

    	 

    

 

6.          Notices.
Any notice or communication given by either Party hereto to the other shall be in writing and personally delivered or mailed by
registered or certified mail, return receipt requested, postage prepaid, to the following addresses:

 

	If to the Company:	Microphase Corporation
	 	587 Connecticute Avenue 
	 	Norwalk, CT 06856 
	 	Attention: Company CEO 
	 	Facsimile: 203-853-3304
	 	 
	With a copy to:	Lucosky Brookman LLP
	 	101 Wood Avenue South, 5th Floor
	 	Woodbridge, New Jersey 08830
	 	Attn: Scott E. Linsky
	 	Facsimile: (732) 396-4401
	 	 
	If to Strategic Advisor:	Ronald Durando
	 	43 Alexander Avenue,
	 	Nutley, New Jersey 07110

 

Any notice shall be
deemed given when actually delivered to such address, or two days after such notice has been mailed or sent by Federal Express,
whichever comes earliest. Any person entitled to receive notice may designate in writing, by notice to the other, such other address
to which notices to such person shall thereafter be sent.

 

7.          Miscellaneous.

 

(a)          Representations
and Covenants. In order to induce the Company to enter into this Agreement, the Strategic Advisor makes the following representations
and covenants to the Company and acknowledges that Company is relying upon such representations and covenants:

 

(i)          No
agreements or obligations exist to which the Strategic Advisor is a party or otherwise bound, in writing or otherwise, that in
any way interfere with, impede or preclude him from fulfilling any and all of the terms and conditions of this Agreement.

 

    	8

    	 

    

 

(ii)         Strategic
Advisor, during his employment, shall use his best efforts to disclose to the Board, in writing, or by other effective method,
any bona fide information known by him, which he reasonably believes is not known to the Board, and which he reasonably believes
would have any material negative impact on the Company.

 

(b)          Entire
Agreement. This Agreement contains the entire understanding of the Parties with respect to the subject matter contained herein
and supersedes the effectiveness all other prior agreements and understandings between the Parties or between Strategic Advisor
and the Company with respect to such subject matter.

 

(c)          Amendment;
Waiver. The Parties agree that this Agreement may not be amended, supplemented, canceled or discharged, except by written instrument
executed by the Party against whom enforcement is sought. No failure to exercise, and no delay in exercising, any right, power
or privilege hereunder shall operate as a waiver thereof. No waiver of any breach of any provision of this Agreement shall be deemed
to be a waiver of any preceding or succeeding breach of the same or any other provision.

 

(d)          Binding
Effect; Assignment. The rights and obligations of this Agreement shall bind and inure to the benefit of any successor of the
Company by reorganization, merger or consolidation, or any assignee of all or substantially all of the Company’s business.
Strategic Advisor's rights or obligations under this Agreement may not be assigned by Strategic Advisor.

 

(e)          Headings.
The headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of
this Agreement.

 

(f)          Governing
Law; Jurisdiction; Interpretation. This Agreement shall be construed in accordance with and governed for all purposes, by the
laws and public policy of the State of New York, except as it pertains to conflict of laws principles. Jurisdiction and venue shall
be conferred upon the state and federal courts located in the City and State of New York.

 

(g)          Further
Assurances. Each of the Parties agree to execute, acknowledge, deliver and perform, and cause to be executed, acknowledged,
delivered and performed, at any time, and from time to time, as the case may be, all such further acts, deeds, assignments, transfers,
conveyances, powers of attorney and assurances as may be reasonably necessary to carry out the provisions or intent of this Agreement.

 

(h)          Severability.
The Parties have carefully reviewed the provisions of this Agreement and agree that they are fair and equitable. However, in light
of the possibility of differing interpretations of law and changes in circumstances, the Parties further agree that if any one
or more of the provisions of this Agreement shall be determined by a court of competent jurisdiction to be invalid, void or unenforceable,
the remainder of the provisions of this Agreement shall, to the extent permitted by law, remain in full force and effect and shall
in no way be affected, impaired or invalidated. Moreover, if any of the provisions contained in this Agreement are determined by
a court of competent jurisdiction to be excessively broad as to duration, activity or subject, it shall be construed, by limiting
or reducing it to the extent legally permitted, so as to be enforceable to the maximum extent compatible with then applicable law.

 

    	9

    	 

    

 

(i)          Withholding
Taxes. All payments hereunder shall be subject to any and all applicable federal, state, local and foreign withholding taxes.

 

(j)          Compliance
with Section 409A. Notwithstanding anything herein to the contrary, (i) if at the time of Strategic Advisor's termination
of employment with the Company the Strategic Advisor is a “specified employee” as defined in Section 409A of the Internal
Revenue Code of 1986, as amended (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 shall 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 Strategic Advisor) until the date
that is six months following Strategic Advisor’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 Strategic Advisor 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 while, to the extent possible, preserving the overall economic benefit to the
Strategic Advisor of such payments or benefits. The Company shall consult with Strategic Advisor in good faith regarding the implementation
of the provisions of this Section 7.10; provided that neither the Company nor any of its officers, directors, shareholders,
employees, agents or representatives shall have any liability to the Strategic Advisor with respect thereto.

 

(k)          Survival.
Notwithstanding the termination of the Strategic Advisor’s employment hereunder, the terms, conditions and provisions contained
herein shall survive such termination.

 

(l)          Counterparts.
The Parties agree that this Agreement may be signed in two (2) or more counterparts, each of which shall be deemed to be an original,
and all of which, when taken together, shall constitute but one and the same instrument.

 

[Signature Page Follows]

 

    	10

    	 

    

 

IN WITNESS WHEREOF,
the Parties hereto have executed, or have caused to have executed, this Agreement as of the day and year first above
written.

 

	 	MICROPHASE CORPORATION
	 	 	 
	 	By:	/s/ Needet Ergul
	 	 	Name:    Needet Ergul
	 	 	Title:      Chief Executive Officer
	 	 	 
	 	STRATEGIC ADVISOR
	 	 	 
	 	/s/ Ronald Durando
	 	RONALD DURANDO. an individualExhibit 10.8

 

CONSULTING AGREEMENT

 

THIS AGREEMENT is by and between Microphase
Corporation. (Hereinafter the “Company”) and Mr. Brian Kelly (hereinafter “Mr. Kelly”). The effective date
of this Agreement shall be the date on which Consultant signs it (hereinafter the “Effective Date”).

 

WHEREAS, Mr. Kelly has expertise in
the area of General Management; and

 

WHEREAS, the Company
wants Mr. Kelly to provide services to the Company in the area of General Management and has expressed a willingness to provide
such services to the Company; and

 

WHEREAS, Mr. Kelly understands that
while performing services for the Company, Mr. Kelly may be given access to or acquire confidential or other information from the
Company; and as a result will be required to enter into a Non Disclosure Agreement

 

NOW, THEREFORE, in consideration of
the terms and conditions contained herein, the parties hereto agree as follows:

 

1.          Services.
Mr. Kelly agrees to provide consulting services to the Company beginning as of the date hereof. Pursuant to this Agreement, Mr.
Kelly agrees to provide consulting services to the Company in the area of General Management including but not limited to the following
tasks: Corporate Structure, Profitability (P&L and Budget), Recruiting, Hiring and Evaluating Talent and Establishing Corporate
Processes and Procedures.

 

2.          Consideration.
In consideration for the consulting services Mr. Kelly will provide under the terms of this Agreement, the Company agrees to compensate
Mr. Kelly as follows:

 

(a)          Sixteen
thousand dollars ($ 16,000.00) per month to be paid in two Eight Thousand ($8,000.00) semi monthly payments made on the 15th
and 30th day of each month pursuant to an IRS Form 1099 for which Mr. Kelly provides the consulting services as set forth in this
Agreement;

 

(b)          In
the event of an early termination of this agreement during the initial term or any extensions thereof, Mr. Kelly’s consideration
will be pro-rated to last day services are rendered.

 

3.          Term.
The Company and Mr. Kelly agree that Mr. Kelly will provide consulting services to the Company from the date hereof through three
months from the date hereof.

 

4.          Independent
Contractor. Mr. Kelly shall at all times be an independent contractor and not an employee of agent of the Company. Mr.
Kelly shall have no power or authority to act on behalf or in the name of or to bind the Company. Nothing in this Agreement is
intended or shall be deemed to constitute a partnership, agency, employer-employee, or a joint venture relationship between Mr.
Kelly and the Company. Mr. Kelly will be regarded as an independent contractor in all matters pertaining to services performed
for the Company. Neither party shall incur any liabilities or any obligation of any kind (express or implied) for the other, except
to the extent, if at all, specifically provided herein. Because Mr. Kelly is an independent contractor and not an employee of the
Company, the following provisions shall apply to the parties’ relationship:

 

    	 

    	 

    

(a)          Mr.
Kellys' Expenses. The Company shall reimburse Mr. Kelly only for reasonable out-of-pocket expenses, other than legal expenses,
directly related to his services hereunder and which would not otherwise be incurred by Mr. Kelly if this Agreement did not exist,
provided that any such expense in excess of Five Hundred Dollars ($500.00) must be preapproved by the Company in writing prior
to its being incurred.

 

(b)          Company
Expenses. Mr. Kelly shall not be required to incur any expenses for the Company under this Agreement, except as set forth in
paragraph 4(a) above.

 

(c)          No
Right to Retirement Benefits. Mr. Kelly is not entitled to participate in any profit sharing, pension retirement plan, vacation
pay, sick pay, insurance coverage, or any other benefits provided to the Company’s other employees.

 

(d)          Non-Exclusivity.
Mr. Kelly may engage in any other trade or business while consulting with the Company provided that such other trade or service
not be performed for or on behalf of a company or entity that competes with the Company or provides the same or substantially similar
services as the Company. In the event that Mr. Kelly wishes to perform services for another company that competes with the Company
or provides the same or substantially similar services as the Company, he agrees not to do so without first receiving written permission
from the Chief Operating Officer or President of the Company.

 

5.          Conduct
During Consulting Period. In providing the services stated in Paragraph 1 of this Agreement, Mr. Kelly will cooperate with
the Company’s personnel and use his best efforts and energies in good faith on the Company’s behalf. Mr. Kelly agrees
that the services will be performed in a professional and workman-like manner and will be of professional quality conforming to
generally accepted consulting practices. Mr. Kelly will comply with all applicable laws and regulations in the performance of the
services. Mr. Kelly shall observe the Company’s rules and regulations with respect to his conduct and performance of the
services.

 

6.          No
Other Obligations. Mr. Kelly represents and warrants to the Company that Mr. Kelly has the right to enter into this Agreement
without breaching or violating any fiduciary, contractual, or statutory obligations owed to another.

 

7.          Confidential
Information. Mr. Kelly understands and acknowledges that the Company uses confidential and proprietary information (hereinafter
collectively referred to as “Confidential Information”) in the course of its business. Mr. Kelly acknowledges that
during his relationship with the Company, the Company may disclose to Mr. Kelly, or Mr. Kelly may be exposed to, Confidential Information
of the Company. During the time that Mr. Kelly is an independent contractor of the Company, and for so long afterward as the data
or information remains confidential, Mr. Kelly agrees that all such Confidential Information shall be treated as private, privileged
and confidential, and Mr. Kelly agrees that except in the performance of Mr. Kelly ’ duties and for the benefit of the Company,
Mr. Kelly will not use or disclose, disseminate, publish or otherwise divulge or make available, directly or indirectly, to any
person or entity, any Confidential Information of the Company, unless Mr. Kelly obtains the prior express written consent of the
Company and such consent is signed by the President or Chief Operating Officer of the Company. Mr. Kelly agrees that any unauthorized
disclosure or use of the Company’s Confidential Information would be wrongful, would constitute unfair competition, and would
result in immediate and irreparable injury to the Company.

 

    	-2-

    	 

    

8.          Company
Property. Mr. Kelly agrees and understands that upon termination of this Agreement, Mr. Kelly shall immediately return
all materials in his possession including but not limited to all Confidential Information set forth above, contracts, documents,
products, sales, files, reports, copyrighted documents, resumes, and directories that were given to Mr. Kelly, created by Mr. Kelly,
or in the possession of Mr. Kelly at any time during the existence of this Agreement.

 

9.          Company’s
Remedies On Breach. Mr. Kelly acknowledges that any breach by Mr. Kelly of paragraphs 7 and 8 of this Agreement will cause
immediate harm to the Company, and will cause damages that are irreparable and difficult, if not impossible, to quantify. Accordingly,
to prevent and/or to rectify any such breach, the Company shall be entitled to an immediate injunction and other equitable relief
in the event of an intentional disclosure of confidential information by Mr. Kelly. Nothing herein shall prevent the Company from
pursuing any legal remedy available for breach of paragraphs 7 and 8 of this Agreement including but not limited to an action for
damages which shall include but not be limited to, all losses sustained by the Company as a direct result of the breach, all compensation
and other monies received by Mr. Kelly or any other person, business activity, corporation or other entity with which Mr. Kelly
is acting or on whose behalf Mr. Kelly is acting, and punitive damages. Additionally, if the Company prevails in whole or in any
part in any action to enforce any of the terms of paragraphs 7 and 8 of this Agreement, Mr. Kelly agrees to reimburse the Company
for all costs and attorneys’ fees that it incurred in bringing such action that result from Mr. Kelly’s intentional
disclosure of confidential information.

 

Mr. Kelly agrees that the covenants contained
in this Agreement are reasonable in their scope and their duration and agrees not to raise any issue regarding the reasonableness
of the scope or duration of the covenants in any proceeding to enforce them. If in any judicial or quasi- judicial proceeding a
court or judge shall refuse to enforce any of the covenants set forth in this Agreement, then the parties intend for the unenforceable
language or provisions of such covenant to be modified or eliminated to the extent necessary to permit enforcement of the remainder
of the Agreement.

 

10.         Governing
Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Connecticut
of the United States of America. The Company and Employee agree to be subject to the personal jurisdiction of the courts of Connecticut
for any disputes arising from or in relation to this Agreement.

 

11.         Entire
Agreement. This Agreement sets forth the entire agreement of the parties concerning the subject matters contained herein
and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether
oral or written, by the parties and by their officers, directors, principals, employees, agents and representatives. Any prior
agreement of the parties hereto concerning the subject matter contained herein is hereby terminated and canceled. No agreements
or representations, oral or otherwise, express or implied, concerning the subject matter hereof have been relied on by either party
that are not set forth expressly in this Agreement.

 

    	-3-

    	 

    

Mr. Kelly acknowledges
that Mr. Kelly has read and fully understands this Agreement, has been provided with an opportunity to consult an attorney regarding
this Agreement, and has consulted such advisors as Mr. Kelly has deemed necessary. Mr. Kelly further acknowledges and agrees that
Mr. Kelly has received good and sufficient consideration for signing this Agreement, which consideration Mr. Kelly was not otherwise
entitled to and which Mr. Kelly otherwise would not have received.

 

12.         Amendment.
This Agreement may not be modified, altered or changed except upon express written consent of both the Company and Mr. Kelly wherein
specific reference is made to this Agreement.

 

13.         Severability.
This Agreement is divisible and separable. If any provision of this Agreement is held to be or becomes invalid, illegal, or unenforceable,
such provision or provisions shall be reformed to approximate as nearly as possible the intent of the parties, and the remainder
of this Agreement shall not be affected thereby and shall remain valid and enforceable to the greatest extent permitted by law.

 

14.         Survivability.
This Agreement shall be binding upon and inure to the benefit of the parties hereto, their respective heirs, executors, administrators,
successors, and permitted assigns, provided, however, that this Agreement and the obligations hereunder shall not be delegated
or assigned by Mr. Kelly without prior written permission from the Company.

 

15.         Waiver.
The terms of this Agreement may be waived only by a written instrument expressly waiving such term or terms and executed by the
party waiving compliance. The waiver of any term or condition of this Agreement by either party hereto shall not constitute a modification
of this Agreement, nor prevent a party hereto from enforcing such term or condition in the future with respect to any subsequent
event, nor shall it act as a waiver of any other right accruing to such party hereunder.

 

16.         Modification.
No change or modification of this Agreement shall be valid or binding unless it is in writing and signed by both the Company and
Mr. Kelly. No waiver of any provision of this Agreement shall be valid unless it is in writing and signed by the party against
whom the waiver is sought to be enforced.

 

    	-4-

    	 

    

 

IN WITNESS WHEREOF, the Company and Mr.
Kelly hereby duly execute this Agreement to be effective as of the date set forth above on the first page of this Agreement

 

	Signed	 	 
	 	 	 
	/s/ Brian Kelly	 	Dated: 6/3/08
	 	 	 
	Brian Kelly	 	 
	 	 	 
	Subscribed and sworn to before me on this 	 	 
	3rd day of June, 2008	 	 

 

	 	a	 	 
	Notary Public	 
	My Commission Expires: 5/31/2012	 

 

	THE COMPANY:	 	 	 
	 	 	 	 
	MICROPHASE CORPORATION.,	 	 	 
	 	 	 	 
	Necdet Ergul, President	 	 	 
	 	 	 	 
	/s/ Necdet Ergul 	 	Dated: 	6/2/08

 

	By:	 	 

 

	Subscribed and sworn to before me on this 	 
	2nd day of June, 2008.	 
	 	 
	/s/ Angela Bollettieri

	 
	Notary Public	 
	My Commission Expires: 5/31/2010	 

 

    	-5-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00240-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00240-of-00352.parquet"}]]