Item 1.01 Entry into a Material Definitive Agreement.

On October 31, 2008, Microwave Concepts, Inc., a wholly-owned subsidiary of Micronetics, Inc., entered into a lease with SAI Property Management LLC (the "Landlord") for a new headquarters for Microwave Concepts, Inc. (the "Lease"). The property is located in West Caldwell, New Jersey. The Lease has an initial term of five years and contains one option to extend the Lease, for a term of five years. The annual rent for the initial term of the Lease is $218,500.

Micronetics, Inc. believes the additional space provided by the new headquarters is required to support the current backlog and anticipated growth in the demand for integrated subassemblies manufactured by Microwave Concepts, Inc.

In addition, on October 31, 2008, Micronetics, Inc. entered into an agreement to guarantee the obligations of Microwave Concepts, Inc. under the Lease (the "Guaranty").

Copies of the Lease and the Guaranty are attached as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K. The foregoing description of the agreements does not purport to be complete and is qualified in its entirety by reference to the full text of each such agreement, which is incorporated herein by reference to the exhibits attached hereto.

Item 9.01 Financial Statements and Exhibits.

Exhibit No. Exhibit Description 10.1 Lease by and between Microwave Concepts, Inc. and SAI Property Management LLC. 10.2 Guaranty by Micronetics, Inc.

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