EXHIBIT 10.16
EXTENSION AGREEMENT
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This Extension Agreement entered into on the 21st day of December,
1998 by and between TUT SYSTEMS, INC., a Delaware corporation, having a place of
business at 0000 Xxxxxx Xxx, Xxxxxxxx Xxxx, XX 00000 (hereinafter "TUT") and AND
YET, INC., a California corporation, having a place of business at 0000 Xxxxx
Xxxxx Xxx, Xxxxxxxx, Xxxxxxxxxx, 00000 (hereinafter "AND YET") and Xxxxx Xxxxxx
of 0000 Xxxxx Xxxxx Xxx, Xxxxxxxx, Xxxxxxxxxx 00000 (hereinafter "XXXXXX") is
made with respect to the following facts.
A. The Parties enter into an Agreement and General Release dated
July 31, 1998 and August 12, 1998 (Prior Agreement).
B. The Parties wish to extend the Prior Agreement with certain
changes set forth below.
NOW, THEREFORE, the Parties agree as follows.
1. Paragraph 2 of the Prior Agreement is amended to change November 30,
1998 to June 30, 1999.
2. TUT hereby assigns to AND YET, INC. all of its right, title and
interest in the following patent applications. A separate assignment is attached
and incorporated by reference into this Agreement.
Title Serial No. Filing Date
----- --------- -----------
"ENCODING/DETECTION METHOD 09/024,883 2/17/98
FOR DIGITAL DATA TRANSMITTER
WITH A SIGNAL HAVING
MULTIPLE LEVELS"
"ENCODING/DETECTION METHOD 08/889,220 7/23/97
FOR DIGITAL DATA"
1
3. TUT shall obtain a release for XXXXXX from the lockup Agreement to
permit XXXXXX to sell 25,000 shares (post reverse split) of TUT stock, such
release to be obtained prior to an IPO.
4. In all other respects the Parties affirm the terms and conditions
of the Prior Agreement.
Agreed to by:
Date: 12/23/98 /s/ Xxxxxx X. Xxxxxx
-------------- _______________________________________
Xxxxxx X. Xxxxxx
Date: 12/18/98 /s/ Xxxxxxx Xxxxxx
-------------- _______________________________________
Xxxxxxx Xxxxxx
TUT SYSTEMS, INC.
Consent of spouse:
Date: 12/23/98 /s/ Xxxxx Xxxxxx
-------------- _______________________________________
Xxxxx Xxxxxx
Date: 12/23/98 And Yet, Inc.
--------------
/s/ Xxxxxx X. Xxxxxx
By: ____________________________________
Xxxxxx X. Xxxxxx
