Summary of INTERPHASE CORP

Change in Directors or Principal Officers, Financial Statements and Exhibits

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Effective November 17, 2008, Yoram Solomon will join the Company in the position of Vice President of Corporate Strategy & Business Development.

Prior to accepting the position as Vice President of Corporate Strategy & Business Development, Mr. Solomon, who is 43 years old, spent the last six years at Texas Instruments in Dallas, Texas, in various capacities. Most recently, Mr. Solomon served as Senior Director of Technology Strategy and Industry Relations for the Chief Technology Officer's Office. Mr. Solomon holds a Master of Business Administration from the University of Colorado in Colorado Springs, Colorado and an undergraduate degree in Law from Tel-Aviv University in Tel-Aviv, Israel.

In connection with Mr. Solomon's new position, the Company and Mr. Solomon entered into an employment, confidentiality and non-competition agreement effective November 17, 2008. Under his employment agreement, Mr. Solomon is entitled to an annual base salary of $185,000 and is eligible to receive an annual bonus based upon his annual bonus target established by the compensation committee of the Board of Directors. In addition, in accordance with his employment agreement, Mr. Solomon will receive 20,000 shares of Restricted Stock under the Company's long term stock incentive plan.

Mr. Solomon's employment agreement permits the Company to terminate him without further compensation for "cause" as defined in the employment agreement, which includes death and disability. If the Company terminates Mr. Solomon without cause or for non-renewal prior to his first anniversary, he will receive three months severance pay at his base salary. If the Company terminates Mr. Solomon without cause or for non-renewal after his first anniversary with the Company, he will receive six months severance pay at his then current base salary.