Facilities and Services Agreement between Microphase Corporation and mPhase Technologies, Inc.

Summary

Microphase Corporation and mPhase Technologies, Inc. have entered into an agreement effective July 1, 1998, under which Microphase will provide mPhase with office space and general administrative services, including independent accounting. mPhase will use its own auditors for financial reviews and audits. In return, mPhase will pay Microphase $50,000 per month, covering both facilities and engineering services. The agreement is on a month-to-month basis and is designed to help mPhase begin its operations using Microphase's resources.

EX-10.9 9 dex109.txt FACILITIES/SERVICES AGREEMENT CO. AND MICROPHASE EXHIBIT 10.9 M I C R 0 P H A S E C 0 R P 0 R A T I 0 N Microphase/mPhase ----------------- FACILITIES/SERVICES AGREEMENT ----------------------------- This agreement is made effective this 1st day of July, 1998 between Microphase Corporation, a Connecticut Corporation having a place of business at 587 Connecticut Avenue, Norwalk, CT. 06854-0960 (referred to as "Microphase") and mPhase Technologies, Incorporated, a Delaware Corporation, having a place of business at 587 Connecticut Avenue, Norwalk, CT. 06854-0960 (referred to as "mPhase"). WHEREAS, in order to facilitate the initiation of operation of mPhase, the Parties wish to take advantage of certain facilities and services available at Microphase; NOW, THEREFORE, the Parties agree as follows: 1. Microphase hereby makes available to mPhase, the use of general office space. 2. Microphase hereby agrees to provide general administrative services, including maintaining an independent accounting function for mPhase Technologies, Inc. 3. mPhase shall employ separate and independent auditors to review quarterly, and audit the annual financial statement. 4. mPhase shall pay to Microphase the sum of $50,000.00 on a month to month basis composed of ($10,000.00 Facilities fee and $40,000.00 Engineering fee), during the term of this agreement. M I C R 0 P H A S E C 0 R P 0 R A T I 0 N IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed as of the day and year first above written. Microphase Corporation: By: --------------------------------- Name: Torry Guardino Title: Contract Administrator Date: ------------------------------- mPhase Technologies, Inc. By: --------------------------------- Name: Gustave T. Dotoli Title: Executive Vice President Date: -------------------------------