Document:

Exhibit
10.1

 

David
Gandler

c/o fuboTV Inc.

 

	 	Re:	EXECUTIVE
    EMPLOYMENT AGREEMENT

 

Dear
David:

 

Your
employment with fuboTV Inc. (the “Company”), shall be governed by the following terms and conditions
(this “Agreement”) effective as of October 8, 2020:

 

1.
Duties and Scope of Employment.

 

(a)
Term. This Agreement will be effective as of the date of the Company’s up-listing onto the New York Stock
Exchange (the “Effective Date”) and will continue through the three (3) year anniversary of the Effective
Date (the “Initial Term Expiration Date” and such period, the “Initial Term”);
provided that upon the Initial Term Expiration Date, and each subsequent one (1) year anniversary of such date, if applicable,
the term of your employment under this Agreement will automatically by extended by one (1) year (each such extension, an “Additional
Term”), unless either party hereto provides the other party with written notice as least ninety (90) days before
the Initial Term Expiration Date, or such subsequent one (1) year anniversary of such date, if applicable, of such party’s
decision not to extend the term of employment under this Agreement any further. For avoidance of doubt, the decision by either
party (prior to a Change in Control) not to extend the term of employment under this Agreement will not by itself constitute a
termination of employment by the Company other than for Cause (as defined below), and unless determined otherwise by you or the
Company, after such non-renewal, your employment will continue on an at-will basis outside of this Agreement.

 

(b)
Position and Responsibilities. For the term of your employment under this Agreement (the “Employment
Period”), the Company agrees to employ you in the position of Chief Executive Officer. You will report to the Company’s
Board of Directors (the “Board”). You will perform the duties and have the responsibilities and authority
customarily performed and held by the Chief Executive Officer or as otherwise may be assigned or delegated to you by the Board.

 

(c)
Obligations to the Company. During the Employment Period, you shall perform your duties faithfully and to the best
of your ability and will devote your full business efforts and time to the Company. During the Employment Period, without the
prior written approval of the Board, you shall not render services in any capacity to any other person or entity and shall not
act as a sole proprietor or partner of any other person or entity or own more than five percent (5%) of the stock of any other
corporation, except that stock that you hold as a passive investment in a non-competitive company will be exempt from this limitation.
Notwithstanding the foregoing, you may serve on corporate, civic or charitable boards or committees, deliver lectures, fulfill
speaking engagements, teach at educational institutions, or manage personal or family investments without such advance written
consent; provided that such activities do not individually or in the aggregate materially interfere with the performance of your
duties under this Agreement. You shall comply with the Company’s policies and rules, as they may be in effect from time
to time and provided to you during the Employment Period.

 

(d)
No Conflicting Obligations. You represent and warrant to the Company that you are under no obligations or commitments,
whether contractual or otherwise, that are inconsistent with your obligations under this Agreement. In connection with your employment,
you shall not knowingly use or disclose any trade secrets or other proprietary information or intellectual property in which you
or any other person has any right, title or interest and to the best of your knowledge, your employment during the Employment
Period will not infringe or violate the rights of any other person. You represent and warrant to the Company that you have returned
all property and confidential information belonging to any prior employer.

 

    	 

    	 

    

 

2.
Cash and Incentive Compensation.

 

(a)
Base Salary. The Company shall pay you as compensation for your services a base salary at a gross annual rate of
$500,000, less all required tax withholdings and other applicable deductions, in accordance with the Company’s standard
payroll procedures. The annual compensation specified in this subsection (a), together with any modifications in such base compensation
that the Company may make from time to time, is referred to in this Agreement as your “Base Salary.”
Your Base Salary will be subject to review and adjustments that will be made based upon the Company’s normal performance
review practices. Effective as of the date of any change to your Base Salary, the Base Salary as so changed shall be considered
the new Base Salary for all purposes of this Agreement.

 

(b)
Cash Incentive Bonus. You will be eligible to receive incentive payments under the Company’s bonus plan (the
“Cash Bonus”), paid after the close of the applicable performance period based upon performance of the
Company relative to financial, key performance indicators and other performance goals as reasonably established by, and in the
sole discretion of, the Board or the Compensation Committee of the Board (the “Committee”), as applicable.
As of the Effective Date, the annual target amount for your Cash Bonus will be $500,000 (your “Target Bonus”),
less all required tax withholdings and other applicable deductions. For 2020, your Cash Bonus will be deemed earned as to $100,000
as a result of the up-listing and, and for the remainder of the year following the Effective Date, subject to achievement of applicable
key performance indicators, you will be eligible for an additional bonus equal to the $500,000, but pro-rated for the amount of
the year remaining following the Effective Date. Your Target Bonus for any subsequent year may be adjusted up or down, as determined
in the sole discretion of the Board or the Committee, as applicable. In addition, the Board and/or the Committee reserves the
right to pay discretionary bonuses in its sole discretion.

 

(c)
Equity Awards. You will continue to be eligible to receive awards of stock options, restricted stock, restricted
stock units, stock appreciation rights, performance units and performance shares or other equity awards (“Equity Awards”)
pursuant to any plans or arrangements the Company may have in effect from time to time. The Board or the Committee will determine
in its discretion whether you will be granted any such Awards and the terms of any such Award in accordance with the terms of
any applicable plan or arrangement that may be in effect from time to time.

 

Upon
the Effective Date, you will be granted a stock option to cover 4,100,000 shares (the “New Option”)
of the Company’s common stock under the Company’s 2020 Equity Incentive Plan (the “Plan”).
The New Option will be subject to such time and performance-based vesting conditions as shall be set forth in a separate stock
option agreement under the Plan (the “Option Agreement”). In accordance with NYSE Rule 303A.08, no shares
under the New Option will be issued unless the amendment of the Plan to increase the share reserve is approved at the next annual
meeting of stockholders (“Annual Meeting”). If the amendment of the Plan is not approved by stockholders
at the Annual Meeting, then the New Option will forfeit automatically.

 

3.
Paid Time Off and Employee Benefits. During the Employment Period, you shall be eligible to accrue paid time off
(“PTO”) in accordance with the Company’s PTO policy, as it may be amended from time to time. During
the Employment Period, you shall be eligible to participate in the employee benefit plans maintained by the Company on the same
basis as those benefits are generally made available to other executive officers of the Company, subject in each case to the generally
applicable terms and conditions of the plan in question and to the determinations of any person or committee administering such
employee benefit plan. The Company reserves the right to cancel or change the employee benefit plans and programs it offers to
its employees at any time.

 

    	-2-

    	 

    

 

4.
Business Expenses. The Company will reimburse you for your necessary and reasonable business expenses incurred in
connection with your duties hereunder upon presentation of an itemized account and appropriate supporting documentation, all in
accordance with the Company’s generally applicable policies.

 

5.
Termination.

 

(a)
Employment at Will. Your employment shall be “at will,” meaning that either you or the Company shall
be entitled to terminate your employment at any time and for any reason, with or without Cause or notice. Any contrary representations
that may have been made to you shall be superseded by this Agreement. This Agreement shall constitute the full and complete agreement
between you and the Company on the “at-will” nature of your employment, which may only be changed in an express written
agreement signed by you and a duly authorized officer of the Company.

 

(b)
Rights Upon Termination. Except as expressly provided in Section 6, upon the termination of your employment, you
shall only be entitled to the accrued but unpaid base salary compensation, any earned but unpaid Cash Bonus for the fiscal year
preceding the fiscal year in which such termination of employment occurs, PTO and other benefits earned and the reimbursements
described in this Agreement or under any Company-provided plans, policies, and arrangements for the period preceding the effective
date of the termination of employment.

 

6.
Termination Benefits.

 

(a)
Termination other than for Cause, Death or Disability that is Unrelated to a Change in Control. If outside of the
Change in Control Period, the Company terminates your employment with the Company other than for Cause, death or your disability,
then, in each case, subject to Section 7, you will be entitled to:

 

(i)
receive continuing payments of severance pay at a rate equal to your Base Salary, as then in effect, for twelve (12) months from
the date of such termination of employment (the Continuation Period”). Severance payments under this subsection
(i) will be reduced by all required tax withholdings and other applicable deductions and will be paid in accordance with the Company’s
regular payroll procedures commencing on the Release Deadline (as defined in Section 7(a)); provided that the first payment shall
include any amounts that would have been paid to you if payment had commenced on the date of your separation from service; and

 

(ii)
if you timely elect continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”)
for you and your eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse you for
the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to your termination of employment) for
you and your covered dependents until the earliest of (A) twelve (12) months from the date of such termination of employment,
(B) the expiration of your continuation coverage under COBRA or (C) the date when you receive substantially equivalent health
insurance coverage in connection with new employment or self-employment.

 

    	-3-

    	 

    

 

(b)
Termination Other than for Cause, Death or Disability or Resignation for Good Reason in Connection with a Change in Control.
If during the Change in Control Period, (i) the Company terminates your employment with the Company other than for Cause, death
or your disability, or (ii) you resign for Good Reason, then, in each case, subject to Section 7, you will be entitled:

 

(i)
a lump sum payment of severance equal to your twelve (12) months of your Base Salary, as then in effect. Severance payment under
this subsection (i) will be reduced by all required tax withholdings and other applicable deductions and will be paid in accordance
on the Release Deadline (as defined in Section 7(a)).

 

(ii)
a lump sum payment equal to your Target Bonus. Severance payment under this subsection (i) will be reduced by all required tax
withholdings and other applicable deductions and will be paid in accordance on the Release Deadline (as defined in Section 7(a)).

 

(iii)
if you timely elect continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”)
for you and your eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse you for
the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to your termination of employment) for
you and your covered dependents until the earliest of (A) twelve (12) months from the date of such termination of employment,
(B) the expiration of your continuation coverage under COBRA or (C) the date when you receive substantially equivalent health
insurance coverage in connection with new employment or self-employment; and

 

(iv)
100% of your existing time-based Equity Awards will accelerate and vest.

 

(c)
Termination for Cause or Resignation without Good Reason. If your employment with the Company terminates voluntarily
by you (except for a resignation for Good Reason during the Change in Control Period), or on account of death or disability, for
Cause by the Company, then (i) all vesting will terminate immediately with respect to your outstanding Awards; (ii) all payments
of compensation by the Company to you hereunder will terminate immediately (except as to amounts already earned); and (iii) you
will only be eligible for severance benefits in accordance with the Company’s established policies, if any, as then in effect.

 

(d)
Exclusive Remedy. In the event of a termination of your employment with the Company, the provisions of this Section
6 are intended to be and are exclusive and in lieu of any other rights or remedies to which you or the Company may otherwise be
entitled, whether at law, tort or contract, in equity, or under this Agreement, except to the extent explicitly preserved hereunder.
You will be entitled to no severance or other benefits upon termination of Employment with respect to acceleration of award vesting
or severance pay other than those benefits expressly set forth in this Section 6.

 

7.
Conditions to Receipt of Severance; No Duty to Mitigate.

 

(a)
Separation Agreement and Release of Claims. The receipt of any termination benefits pursuant to Section 6 will be
subject to you signing and not revoking a standard separation agreement and release of claims with the Company (the “Release”)
and provided that such Release becomes effective and irrevocable no later than sixty (60) days following your “separation
from service” (within the meaning of Section 409A) (such 60th day, the “Release Deadline”). The
Release will not include (i) a non-compete covenant or (ii) other restrictive covenants that are not legal under applicable law.
If the Release does not become effective and irrevocable by the Release Deadline, you will forfeit any rights to termination benefits
under this Agreement. In no event will termination benefits be paid or provided until and unless the Release becomes effective
and irrevocable by the Release Deadline.

 

    	-4-

    	 

    

 

(b)
Section 409A.

 

(i)
Notwithstanding anything to the contrary in this Agreement, no Deferred Payments (as defined below) will be paid or otherwise
provided until you have a “separation from service” within the meaning of Section 409A. Similarly, no severance payable
to you, if any, pursuant to this Agreement that otherwise would be exempt from Section 409A pursuant to Treasury Regulation Section
1.409A-1(b)(9) will be payable until you have a “separation from service” within the meaning of Section 409A. Notwithstanding
anything to the contrary in this Agreement, if you are a “specified employee” within the meaning of Section 409A at
the time of your separation from service (other than due to death), then the termination benefits to be paid or provided to you,
if any, pursuant to this Agreement that, when considered together with any other termination benefits, are considered deferred
compensation not exempt under Section 409A (together, the “Deferred Payments”) that are payable within
the first six (6) months following your separation from service, will become payable on the first payroll date that occurs on
or after the date six (6) months and one (1) day following the date of your separation from service. All subsequent Deferred Payments,
if any, will be payable in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding anything
herein to the contrary, if you die following your separation from service, but prior to the six (6) month anniversary of the separation
from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum at the time of your death
and all other Deferred Payments will be payable in accordance with the payment schedule applicable to each payment or benefit.
Each payment and benefit payable under this Agreement is intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2)
of the Treasury Regulations.

 

(ii)
The foregoing provisions are intended to comply with, and the COBRA reimbursements are intended to be exempt from, the requirements
of Section 409A so that none of the severance payments and benefits to be provided hereunder will be subject to the additional
tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to so comply and, with respect
to the COBRA reimbursements, to so be exempt. You and the Company agree to work together in good faith to consider amendments
to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any
additional tax or income recognition prior to actual payment to you under Section 409A.

 

(c)
Confidential Information Agreement. Your receipt of any payments or benefits under Section 6 will be subject to
you continuing to comply with the terms of Confidentiality Agreement (as defined in Section 9(a)), as amended under this Agreement.

 

(d)
No Duty to Mitigate. You will not be required to mitigate the amount of any payment contemplated by this Agreement,
nor will any earnings that you may receive from any other source reduce any such payment.

 

8.
Definitions.

 

(a)
“Cause” means (i) your act of dishonesty in connection with your responsibilities as an employee; (ii)
your conviction of, or plea of nolo contendere to, a felony or any crime involving fraud or embezzlement, (iii) your gross
and willful misconduct that has a material adverse effect on the business or affairs of the Company, (iv) your unauthorized and
intentional use or disclosure of any proprietary information or trade secrets of the Company or any other party to whom you owe
an obligation of nondisclosure as a result of your relationship with the Company; (v) your willful breach of any material obligations
under any material written agreement or covenant with the Company; (vi) your continued failure to perform your employment duties
after you have received a written demand of performance from the Company that specifically sets forth the factual basis for the
Company’s belief that you have refused to perform your duties and have failed to cure such non-performance to the Company’s
reasonable satisfaction within thirty (30) business days after receiving such notice or (vii) your failure to cooperate in good
faith with a governmental or internal investigation of the Company or its directors, officers or employees, if the Company has
requested your cooperation.

 

    	-5-

    	 

    

 

(b)
“Change in Control” has the same defined meaning as shall be set forth in the Company’s 2020 Equity
Incentive Plan.

 

(c)
“Change in Control Period” means the period that commences upon a Change in Control and ends on the
one (1) year anniversary of a Change in Control.

 

(d)
“Code” means the Internal Revenue Code of 1986, as amended.

 

(e)
“Good Reason” means your resignation within thirty (30) days following the expiration of any Company
cure period (discussed below) following the occurrence of one or more of the following, without your express written consent:
(i) a material reduction of your duties, authority or responsibilities without your prior consent; (ii) a material reduction in
your Base Salary (except where there is a reduction applicable to the management team generally, not to exceed 10% of the aggregate
base salary); or (iii) a material change in the geographic location of your primary work facility or location; provided, that
a relocation of less than fifty (50) miles from your then-present work location will not be considered a material change in geographic
location. You will not resign for Good Reason without first providing the Company with written notice of the acts or omissions
constituting the grounds for Good Reason within ninety (90) days of the initial existence of the grounds for Good Reason and a
reasonable cure period of thirty (30) days following the date the Company receives such notice during which such condition must
not have been cured.

 

9.
Employment Conditions.

 

(a)
Confidentiality Agreement. You have entered into the Company’s At-Will Employment, Confidential Information
and Invention Assignment Agreement (the “Confidentiality Agreement”) and, in connection with executing
this Agreement, you agree to enter into an amendment thereto. You will continue to be bound by the Confidentiality Agreement (as
amended) during the Employment Term and thereafter in accordance with its terms.

 

(b)
Right to Work. For purposes of federal immigration law, you will be required, if you haven’t already, to provide
to the Company documentary evidence of your identity and eligibility for employment in the United States.

 

10.
Successors.

 

(a)
Company’s Successors. This Agreement shall be binding upon any successor (whether direct or indirect and whether
by purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business
and/or assets. For all purposes under this Agreement, the term “Company” shall include any successor
to the Company’s business or assets that become bound by this Agreement.

 

(b)
Your Successors. This Agreement and all of your rights hereunder shall inure to the benefit of, and be enforceable
by, your personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.

 

    	-6-

    	 

    

 

11.
Miscellaneous Provisions.

 

(a)
Indemnification. If the Board designates you as a Section 16 officer, the Company shall indemnify you to the maximum
extent permitted by applicable law and the Company’s Bylaws with respect to your service and you shall also be covered under
a directors and officers liability insurance policy paid for by the Company to the extent that the Company maintains such a liability
insurance policy now or in the future.

 

(b)
Headings. All captions and section headings used in this Agreement are for convenient reference only and do not
form a part of this Agreement.

 

(c)
Notice. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed
to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested
and postage prepaid. In your case, mailed notices shall be addressed to you at the home address that you most recently communicated
to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all
notices shall be directed to the attention of its Secretary.

 

(d)
Modifications and Waivers. No provision of this Agreement shall be modified, waived or discharged unless the modification,
waiver or discharge is agreed to in writing and signed by you and by an authorized officer of the Company (other than you). No
waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party
shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.

 

(e)
Entire Agreement. This Agreement supersedes any existing employment agreement and/or offer letter in its entirety,
including, but not limited to, the employment agreement with FaceBank Group, Inc (the predecessor to the Company) dated April
1, 2020 (the “Previous Employment Agreement”). No other agreements, representations or understandings
(whether oral or written and whether express or implied) which are not expressly set forth in this Agreement have been made or
entered into by either party with respect to the subject matter hereof. This Agreement and the Confidentiality Agreement contain
the entire understanding of the parties with respect to the subject matter hereof.

 

(f)
Withholding Taxes. All payments made under this Agreement shall be subject to reduction to reflect taxes or other
charges required to be withheld by law.

 

(g)
Choice of Law and Severability. This Agreement shall be interpreted in accordance with the laws of the State of
New York without giving effect to provisions governing the choice of law. If any provision of this Agreement becomes or is deemed
invalid, illegal or unenforceable in any applicable jurisdiction by reason of the scope, extent or duration of its coverage, then
such provision shall be deemed amended to the minimum extent necessary to conform to applicable law so as to be valid and enforceable
or, if such provision cannot be so amended without materially altering the intention of the parties, then such provision shall
be stricken and the remainder of this Agreement shall continue in full force and effect. If any provision of this Agreement is
rendered illegal by any present or future statute, law, ordinance or regulation (collectively, the “Law”)
then that provision shall be curtailed or limited only to the minimum extent necessary to bring the provision into compliance
with the Law. All the other terms and provisions of this Agreement shall continue in full force and effect without impairment
or limitation.

 

(h)
No Assignment. This Agreement and all of your rights and obligations hereunder are personal to you and may not be
transferred or assigned by you at any time. The Company may assign its rights under this Agreement to any entity that assumes
the Company’s obligations hereunder in connection with any sale or transfer of all or a substantial portion of the Company’s
assets to such entity.

 

(i)
Acknowledgment. You acknowledge that you have the opportunity to discuss this matter with and obtain advice from
his private attorney, have had sufficient time to, and have carefully read and fully understand all the provisions of this Agreement,
and are knowingly and voluntarily entering into this Agreement.

 

(j)
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.

 

[Signature
Page Follows]

 

    	-7-

    	 

    

 

After
you have had an opportunity to review this Agreement, please feel free to contact me if you have any questions or comments. To
indicate your acceptance of this Agreement, please sign and date this letter in the space provided below and return it to me.

 

	 	Very truly yours,
	 	 	 
	 	fuboTV Inc. 
	 	 	 
	 	By:	/s/
                                         Gina Sheldon

	 	(Signature)

 

	ACCEPTED
    AND AGREED:	 
	 	 
	DAVID
    GANDLER	 
	 	 
	/s/
    David Gandler 	 
	(Signature)	 
	 	 
	10/8/2020	 
	Date	 

 

    	-8-Exhibit 10.1

 

As adopted by the Board of Directors

on September 10, 2020, retroactively

effective as of September 1, 2020.

 

SECOND
AMENDED AND RESTATED EXECUTIVE STOCK PURCHASE PLAN

 

The
purpose of this Second Amended and Restated Executive Stock Purchase Plan (the “Plan”) is to provide an opportunity
for Executives of Blonder Tongue Laboratories, Inc. (the “Company”) to purchase Common Stock of the Company,
which will further align their interests with stockholders and provide additional incentives for Executives to contribute to the
success of the Company. This Plan is retroactively effective as of September 1, 2020 and supersedes and replaces the Amended and
Restated Executive Stock Purchase Plan adopted by the Board of Directors on November 8, 2016.

 

1. DEFINITIONS

 

(a) “Board”
shall mean the Board of Directors of the Company.

 

(b) “Committee”
shall mean the Compensation Committee of the Board.

 

(c) “Common
Stock” shall mean the common stock of the Company, par value $.001 per share, or any stock into which such common stock
may be converted.

 

(d) “Default
Initial Purchase Date” shall have the meaning ascribed thereto in Section 2(c) of the Plan.

 

(e) “Executive”
shall mean an individual regularly employed by the Company and classified by the Company as an “officer” pursuant
to Section 16 of the Securities Exchange Act of 1934, as amended (“1934 Act”).

 

(f) “Fair
Market Value” means, with respect to a share of Common Stock as of any given date, (i) if the Common Stock is traded
on the over-the-counter market, the arithmetic mean of the bid and the asked prices for the Common Stock at the close of trading
on that date, or if that day is not a trading day (i.e., a weekend, holiday or no trades were made), on the trading day immediately
preceding such day; (ii) if the Common Stock is listed on a national securities exchange, the arithmetic mean of the high and
low selling prices of the Common Stock on that date, or if that day is not a trading day, on the trading day immediately preceding
such day; and (iii) if the Common Stock is neither traded on the over-the-counter market nor listed on a national securities exchange,
such value as the Committee, in good faith, shall determine.

 

(g) “IT
Policy” shall mean collectively the Company’s Statement of Company Policy on Insider Trading and the Policy Regarding
Special Trading Procedures, as they may be amended or modified from time to time.

 

(h) “Notice
of Election” shall have the meaning ascribed thereto in Section 2 of the Plan.

 

(i) “Participant”
shall mean a participant in the Plan as described in Section 2 of the Plan.

 

(j) “Periodic
Purchases” shall have the meaning ascribed thereto in Section 2(a) of the Plan.

 

(k) “Purchase
Date” shall mean a payroll date on which the Company regularly makes payment of Salary to the Executives (currently
every two (2) weeks on Friday), as such date(s) may be amended by the Company from time to time.

 

(l) “Salary”
shall mean an Executive’s base cash pay (excluding variable cash payments such as sales commissions, incentive bonuses and
the like) paid on account of personal services rendered by the Executive to the Company, net of all tax withholdings and other
required or authorized deductions other than amounts deducted pursuant to the Plan.

 

(m) “Single
Purchase” shall have the meaning ascribed thereto in Section 2(b) of the Plan.

 

(n) “Trading
Window” shall mean and refer to a “trading window” as defined in the IT Policy.

 

(o) “1933
Act” shall have the meaning ascribed thereto in Section 5(a) of the Plan.

 

(p) “1934
Act” shall have the meaning ascribed thereto in Section 1(e) of the Plan.

 

     

     

    

 

As adopted by the Board of Directors

on September 10, 2020, retroactively

effective as of September 1, 2020.

 

2. ELIGIBILITY
AND ELECTIONS

 

Any
Executive shall be eligible to participate in the Plan only during such Executive’s tenure as such. An Executive who is
eligible to participate in the Plan in accordance with this Section 2 may become a “Participant” by filing a completed
Notice of Election to Participate (“Notice of Election”) on a form substantially similar to the form attached
hereto as Annex A or as otherwise prescribed by the Company, which Executive’s Notice of Election is subject to approval
by the Company’s Compliance Officer (under and as defined in the IT Policy). If a Participant is terminated as an Executive
(due to death, demotion, termination of employment or otherwise), he or she will no longer be entitled to participate in the Plan.
In addition, with regard to any standing Notice of Election in effect as of the date of termination as an Executive, such Notice
of Election shall be terminated effective immediately on the date of termination as an Executive and he or she will not be entitled
to purchase shares of Common Stock under the Plan on the next Purchase Date, but instead shall receive in cash the Salary payment
(if any) to which he or she is due.

 

Pursuant
to the following terms in this Section 2, an Executive may elect to make Periodic Purchases or a Single Purchase:

 

(a) Periodic
Purchases - An Executive may elect to receive shares of Common Stock in lieu of Salary for any specified time period (but not
less than two Purchase Dates and not more than 26 Purchase Dates) (“Periodic Purchases”) by delivering a Notice
of Election to the Company with all necessary information completed (including the dollar amount of Salary to be withheld (or
in lieu of a specific dollar amount, the percentage of the Salary paid, to be withheld) and the number of Purchase Dates), subject
to the restrictions set forth herein (including without limitation, Section 2(c) and 4 below).

 

(b) Single
Purchase – An Executive may elect to receive shares of Common Stock in lieu of Salary for only one Purchase Date (“Single
Purchase”) by delivering a Notice of Election with all necessary information completed (including the dollar amount
of Salary to be withheld), subject to the restrictions set forth herein.

 

(c) Timing
Restrictions –The Purchase Date (both in the case of a Single Purchase and in the case of the first Purchase Date in connection
with a series of Periodic Purchases), for which purchases may be made under the Plan is (i) if made pursuant to the terms of a
Deferred Compensation Agreement entered into between the Company and the Executive, the date set forth in the Deferred Compensation
Agreement and (ii) if not made pursuant to the terms of a Deferred Compensation Agreement entered into between the Company and
the Executive, the first Purchase Date that is not less than 15 calendar days after the Company receives the fully completed and
executed Notice of Election from the Executive (as such date of receipt shall be determined by the Company in its sole discretion),
provided, however that (i) if the proposed Purchase Date is within sixty (60) calendar days after the Company receives the fully
completed and executed Notice of Election from the Executive and such proposed Purchase Date would not fall during a Trading Window,
then the Purchase Date will be extended to the second trading day after the date of public disclosure of the financial results
for the fiscal quarter or year end with respect to which such Trading Window was closed (“Default Initial Purchase Date”).
An Executive may choose the first Purchase Date to be a date later than the Default Initial Purchase Date by designating such
a date in the Notice of Election; however, absent such a designation, the first Purchase Date shall be the Default Initial Purchase
Date. Once a Notice of Election has been received and approved by the Company, it cannot be modified by the Executive in any material
respect (e.g., can’t change amount (or percentage, as the case may be) to be purchased, the Purchase Date(s) or the number
of purchases), other than the right to discontinue participation under Section 4(b) below.

 

3. PURCHASES

 

The
number of shares of Common Stock delivered in lieu of any cash payment of Salary on any Purchase Date shall be determined by dividing
the Salary amount to be withheld on such Purchase Date (per the Notice of Election) by the Fair Market Value of the Common Stock
on the relevant Purchase Date, and then rounding down to the nearest whole share. All Common Stock issued in lieu of Salary on
any Purchase Date shall be issued in the name of the Executive effective as of the Purchase Date in the form of uncertificated
shares registered on the books of the Company (or held as book entry shares under a program administered by the Company’s
transfer agent). Any cash amounts remaining due to rounding down of shares shall be recorded in a separate bookkeeping account
for each Executive, which shall be applied on the next Purchase Date if sufficient in amount (along with all previous accrued
bookkeeping amounts in such account) to acquire a whole share of Common Stock on a Purchase Date; provided that the Executive
may request payment in cash of the accrued amount in his bookkeeping account at any time. All payroll deductions so held in a
bookkeeping account by the Company may be commingled with other corporate funds, and no interest shall be paid or credited to
the Participant with respect to such payroll deductions (except where required by local law as determined by the Committee).

 

4. LIMITATIONS

 

(a) The
maximum number of shares that can be purchased by all Participants, in the aggregate, pursuant to the Plan is 750,000 shares of
Common Stock, as such amount may be proportionally adjusted by the Committee from time to time if there is any increase or decrease
in the number of outstanding shares of Common Stock because of a stock split, stock dividend, combination, recapitalization or
similar proportionate adjustment of shares of Common Stock. If the number of shares to be purchased on a Purchase Date by all
Participants exceeds the number of shares then remaining available for issuance under the Plan, the Company will make a pro rata
allocation of the remaining shares as shall be reasonably practicable as the Committee, in its absolute discretion, shall determine.
In such event, the Company shall give written notice of such reduction of the number of shares to be purchased to each Participant
affected.

 

    2

     

    

 

As adopted by the Board of Directors

on September 10, 2020, retroactively

effective as of September 1, 2020.

 

(b) An
Executive may discontinue participation in the Plan under exceptional circumstances with the approval of the Compliance Officer
of the IT Policy, which request for discontinuation shall be made by written notice to the Company on a form prescribed by the
Company. If participation is discontinued, the Executive will then only receive cash for all future Salary, unless a new Notice
of Election is completed in the future; provided however, that any Executive who discontinues participation under this Section
4(b) must wait at least 30 days after the effective date of such notice to discontinue before the Executive can submit to the
Company a new Notice of Election. An Executive is prohibited from submitting multiple, overlapping Notices of Election, such as
submitting a Notice of Election for a Single Purchase while a Notice of Election is still operative (i.e., Purchase Dates remain)
for a Periodic Purchase plan covering the same Purchase Date. Without limiting the foregoing, an Executive may submit a new Notice
of Election while a Notice of Election is still operative as long as the first Purchase Date under the new Notice of Election
is subsequent to the last Purchase Date under the existing Notice of Election.

 

5. REPRESENTATIONS
AND WARRANTIES; COMPLIANCE WITH LAW

 

(a) In
connection with entering into a Notice of Election, the Executive shall make certain representations, warranties and covenants
to the Company as are set forth in Exhibit A to the Notice of Election, which, among other things, relate to the Common Stock
not being registered under the Securities Act of 1933, as amended (“1933 Act”), the need to report purchases
under Section 16 of the 1934 Act and compliance with Rule 10b5-1(c) under the 1934 Act.

 

(b) The
Plan and all shares of Common Stock granted pursuant to the Plan are subject to the Company’s IT Policy, provided that the
Notice of Election shall be deemed to be a “Trading Plan” as defined under the IT Policy and the Executive is permitted
to execute a Notice of Election before receiving approval of the Compliance Officer. If there is ever a conflict between the Plan
and the IT Policy, the IT Policy shall govern. Notwithstanding anything to the contrary in this Section 5(b), an Executive shall
only submit a Notice of Election when (i) there is a Trading Window, and (ii) the Executive is not in possession of material non-public
information about the Company or otherwise restricted from making purchases under the IT Policy (e.g., trading suspension due
to material developments not yet disclosed to the public). A Notice of Election received in violation of the prior sentence shall
not be effective.

 

6. ADMINISTRATION

 

The
Plan shall be administered by the Committee and its designees. The Committee shall have the power to (a) establish, adopt, revise,
amend or rescind any guidelines, rules and regulations as it may deem necessary or advisable to administer the Plan, and (b) interpret
the terms of, and rule on any matter arising under, the Plan or any purchases under the Plan.

 

7. APPROVAL
AND TERMINATION

 

The
Plan was adopted by the Board of Directors of the Company on September 10, 2020, and made effective retroactively as of September
1, 2020. The Committee may revoke the right to receive shares of Common Stock pursuant to any election under the Plan, and the
Board may terminate the Plan in its entirety, at any time, in their sole and absolute discretion. In any such case, all earned
but previously unpaid Salary will be paid in cash to the Executive on the appropriate Purchase Dates regardless of any prior election
by the Executive to receive such Salary in the form of shares of Common Stock, provided the Executive is then entitled to receive
the payment of Salary.

 

    3

     

    

As adopted by the Board of Directors

on September 10, 2020, retroactively

effective as of September 1, 2020.

 

Annex
A

 

BLONDER
TONGUE LABORATORIES, INC.

SECOND
AMENDED AND RESTATED EXECUTIVE STOCK PURCHASE PLAN (“PLAN”)

NOTICE
OF ELECTION TO PARTICIPATE

 

Capitalized
terms used in this Notice and not otherwise defined have the meanings ascribed thereto in the Plan.

 

Check
One and Provide Information on Purchase(s):

 

		☐	Enrollment
for Single Purchase of $ ________________

 

		☐	Enrollment for Periodic Purchases

 

Amount
of Payroll Deduction on each Purchase Date: $_____________ OR

 

____%
of Salary due on each Purchase Date to be deducted for Periodic Purchases.

 

Number
of Purchase Dates:  _________________

 

Enrollment
and Payroll Deduction Authorization

 

		1.	Print
name of Participant __________________________________________

 

		2.	First
Purchase Date:* _____________________________________________

 

		*	Except
to the extent that the first Purchase Date is pursuant to the terms of a Deferred Compensation Agreement between the Company and
the undersigned Participant, the first Purchase Date must be not less than 15 calendar days after the Company receives this Notice
of Election and otherwise meet the additional restrictions and limitations set forth in Section 2(c) of the Plan. If no date is
chosen in this item 2 or if the date chosen is too soon, then the “Default Initial Purchase Date” will be applied
per Section 2(c) of the Plan.

 

		3.	I
elect to participate in the Blonder Tongue Laboratories, Inc. (the “Company”) Second Amended and Restated Executive
Stock Purchase Plan (the “Plan”) and to purchase shares of the Company’s Common Stock (the “Shares”)
in accordance with this Notice of Election to Participate (“Notice of Election”).

 

		4.	I
authorize payroll deductions from each of my paychecks of the amount set forth above for each Purchase Date, which shall be deducted
on the number of Purchase Dates set forth above. The purchase(s) will commence on the first Purchase Date pursuant to item 2 above.
See Section 2(a) of the Plan for restrictions on the number of Purchase Dates (i.e., maximum of 26 Purchase Dates).

 

		5.	I
understand that my payroll deductions will be used for the purchase of Shares under the Plan at the applicable purchase price
determined in accordance with the Plan (see Section 3 of the Plan). I further understand that except as otherwise set forth in
the Plan or this Notice of Election, Shares will be purchased for me automatically on each Purchase Date per my instructions above,
unless I discontinue participation in the Plan or otherwise become ineligible to participate in the Plan.

 

		6.	I
acknowledge that I have reviewed closely and understand the terms and conditions (including all representations, warranties, covenants
and agreements) set forth in the attached Exhibit A. I have also reviewed and understand the terms and conditions of the Plan,
a complete copy of which has been provided to me and is on file with the Company.

 

		7.	By
executing this Notice of Election, I hereby agree to be bound by the terms of the Plan and this Notice of Election, including
the attached Terms and Conditions in Exhibit A.

 

	PARTICIPANT:	APPROVAL BY THE COMPANY:
	 	 
	Signature:  _____________________________	By: _____________________________
	 	 
	Social Security No.  _____________________________	Name:  _____________________________
	 	 
	Date:  _____________________________	Title:  _____________________________
	 	 
	 	Date:  _____________________________

 

	
        Please complete, sign and return this
        Notice of Election to: 

        Blonder Tongue Laboratories, Inc., One
        Jake Brown Road, Old Bridge, NJ 08857

        Attention: Chief Financial Officer

    4

     

    

 

As adopted by the Board of Directors

on September 10, 2020 and retroactively

effective as of September 1, 2020

 

EXHIBIT
A

 

Terms
and Conditions of Purchases

 

As
a condition to all purchases of Common Stock under the Plan and participation in the Plan, the Executive (“Executive”)
who signed this Notice of Election to Participate (“Notice of Election”) agrees to the terms and conditions (including
without limitation, the representations, warranties, covenants and agreements) set forth in this Exhibit A to the Notice of Election.
Defined terms used in this Exhibit A shall have the meaning ascribed to such terms in the Plan, unless otherwise explicitly defined
herein. Any reference to the Notice of Election herein shall include the Terms and Conditions set forth in this Exhibit A.

 

Full
Payment; Release. Executive agrees to accept shares of Common Stock under the Plan (“Shares”) in full payment
and satisfaction of unpaid Salary pursuant to the terms of the Plan. Executive agrees that the Shares constitute payment in full
of the unpaid Salary, and hereby releases the Company, and its officers, directors and agents from any liability or obligation
related to the unpaid Salary.

 

Representations
and Warranties. Executive makes the following representations and warranties to the Company:

 

It
is the intent of Executive and the Company that purchases under the Plan pursuant to this Notice of Election shall comply with
the requirements of Rule 10b5-1(c) under the 1934 Act and this Notice of Election shall be interpreted to comply with the requirements
of Rule 10b5-1(c). Executive hereby authorizes the Company and the Committee to administer the Notice of Election in accordance
with the Plan and the terms and conditions of this Notice of Election.

 

In
entering into and executing this Notice of Election, Executive is not in possession of any material nonpublic information regarding
the Company, and is entering into this Notice of Election in good faith and not as part of a scheme to evade the prohibitions
of Rule 10b5-1. Executive’s participation in the Plan pursuant to this Notice of Election does not violate any of the Company’s
corporate policies regarding insider trading (also see Section 5(b) of the Plan). Likewise, Executive acknowledges and agrees
that this Notice of Election is subject to approval by the Company’s Compliance Officer (as defined in the IT Policy), which
approval shall be evidenced by signature on the Notice of Election by the Compliance Officer.

 

Except
for discontinuing participation in the Plan, Executive understands that, he will not have, nor will he attempt to exercise, any
authority, influence, or control over how, when, or whether to effect any purchases made pursuant to this Notice of Election.

 

Executive
had the opportunity to review this Notice of Election and his participation in the Plan with his own counsel. Executive acknowledges
that receipt of the Shares in lieu of Salary is a taxable event. Executive has consulted or will consult with his personal tax
adviser concerning the tax consequences of participation in the Plan pursuant to this Notice of Election, and has not relied on
tax advice from the Company or any of its representatives.

 

Executive
shall be responsible for complying with Sections 13(d) and 16 of the 1934 Act and all other provisions, rules, and regulations
under the 1934 Act, including making appropriate disclosures under Schedule 13D or Schedule 13G and filing Form 4’s or Form
5’s and avoiding short swing transactions. In particular, Executive will not sell any Common Stock or enter into any derivative
arrangements that would cause purchases under this Notice of Election to violate Section 16(b) of the 1934 Act.

 

Executive
is acquiring the Shares for Executive’s own account for investment purposes only and not with a view to, or for sale in
connection with, a distribution of the Shares within the meaning of the 1933 Act. Executive has no present intention of selling
or otherwise disposing of all or any portion of the Shares to be acquired under the Plan. Executive has access to all of the Company’s
reports and other filings made with the U.S. Securities and Exchange Commission (“SEC”), including without limitation,
the most recent Form 10-Q, Form 10-K and Proxy Statement. In addition, as an executive officer of the Company, Executive has access
to all information regarding the Company and its present and prospective business, assets, liabilities and financial condition,
and Executive had ample opportunity to ask questions of the Company’s representatives concerning such matters and this investment.

 

    5

     

    

 

As adopted by the Board of Directors

on September 10, 2020 and retroactively

effective as of September 1, 2020

 

Executive
is fully aware of: (i) the highly speculative nature of the investment in the Shares; (ii) the financial hazards involved; (iii)
the limited liquidity of the Shares and the restrictions on transferability of the Shares (e.g., that Executive may not be able
to sell or dispose of the Shares pursuant to restrictions under federal securities laws); and (iv) the qualifications and backgrounds
of principals of the Company. Executive is capable of evaluating the merits and risks of this investment, has the ability to protect
Executive’s own interests in this transaction and is financially capable of bearing a total loss of this investment.

 

Compliance
with Federal Securities Laws. Executive understands and acknowledges that, in reliance upon the representations and warranties
made by Executive herein, the Shares have not been registered with the SEC under the 1933 Act, but have been issued under an exemption
or exemptions from the registration requirements of the 1933 Act which impose certain restrictions on Executive’s ability
to transfer the Shares. Executive understands that Executive may not transfer any Shares unless the Shares are registered under
the 1933 Act or sold in accordance with Rule 144 promulgated under the 1933 Act or another exemption available under the 1933
Act. Under Rule 144, Executive may resell the Shares of Common Stock acquired under the Plan after meeting certain holding period,
volume and manner of sale requirements contained in Rule 144, along with filing a Form 144 with the SEC. Executive should consult
with legal counsel to ensure compliance with all of the conditions for a private transaction or a sale pursuant to Rule 144. Executive
further understands and agrees that the Company’s transfer agent will designate the Shares as “restricted stock”
with applicable transfer restrictions and/or may cause restrictive legends to be placed upon any certificate(s) evidencing ownership
of the Shares which reflect these restrictions on transfer.

 

Termination.
Executive’s participation in the Plan pursuant to this Notice of Election shall automatically terminate upon the earlier
of (a) Executive’s termination as an Executive (due to death, demotion, termination of Executive or otherwise); (b) the
expiration of this Notice of Election (i.e., all purchases have been made per the terms of this Notice of Election); (c) the Company’s
receipt and approval of written notice from Executive to discontinue participation in the Plan (see Section 4(b) of the Plan);
or (d) the Company’s termination of this Notice of Election or the Plan (e.g., see Section 7 of the Plan). Without limiting
the foregoing, the Company may, at its option, terminate this Notice of Election if any legal, contractual, regulatory, or other
restriction is applicable to Executive or the Company, including without limitation, any restriction related to a merger or acquisition,
which would prohibit any purchase pursuant to this Plan.

 

Indemnity.
Executive agrees to indemnify and hold harmless the Company, and each employee, director, officer and agent of the Company, against
any losses, claims, damages, expenses, or other liabilities (including, but not limited to, reasonable attorneys’ fees and
court costs) with respect to any lawsuit, investigation, or other proceeding arising out of or based on the transactions contemplated
by this Notice of Election pursuant to the Plan, including without limitation, any losses resulting from Executive’s misrepresentation
in his representations and warranties herein and any breach by Executive of the covenants herein.

 

Miscellaneous
This Notice of Election shall be governed by and construed in accordance with the laws of the State of Delaware, without
giving effect to conflict of laws principles, except to the extent that federal and state securities laws govern portions of
the Plan or this Notice of Election. The headings contained herein are for reference purposes only and shall not control or
affect the construction of this agreement or the interpretation hereof in any respect. Failure of the Company at any time to
enforce any portion or provision of this Notice of Election or the terms of the Plan shall not be construed as a waiver of
such portion or provision thereof and shall not affect the rights of the Company to enforce each and every portion and
provision in accordance with its terms. This Agreement shall be binding upon and shall inure to the benefit of any and all
successors, permitted assigns, heirs, executors and personal representatives of the parties hereto. Participation in the Plan
and the right to purchase Shares pursuant to this Notice of Election shall not be assigned by Executive and any attempted
assignment shall be void. To the extent of any conflict between the terms contained in this Notice of Election and the terms
of the Plan, the terms of the Plan shall control.

 

 

6

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