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EXHIBIT 10.20
FIRST AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT
This First Amendment to Executive Employment Agreement (this
"Amendment") is made as of September 22, 2000 by and among NOVATEL WIRELESS,
INC., a Delaware corporation ("NWI"), NOVATEL WIRELESS TECHNOLOGIES LTD., an
Alberta corporation ("NWT" and, together with NWI, the "Companies") and XXXXXXX
XXX (the "Executive").
RECITALS
A. The Companies and Executive entered into that certain Executive
Employment Agreement dated as of August 21, 1996 (the "Agreement").
B. Pursuant to Section 26 of the Agreement, the Companies and Executive
desire to amend the Agreement by deleting Section 19 Initial Capitalization and
the Companies' Option to Repurchase Stock in its entirety.
AGREEMENT
The parties hereto agree as follows:
1. AMENDMENT. Section 19 of the Agreement, including the caption
"Initial Capitalization and the Companies' Option to Repurchase Stock" and
subsections 19.1, 19.2 and 19.3, are deleted in their entireties and the
following is inserted in lieu thereof:
"19. RESERVED"
2. MISCELLANEOUS. In all other respects, the Agreement, as herein
amended, shall remain in full force and effect. Subject to the foregoing, to the
extent that any provision of the Agreement and any provision of this Amendment
are in conflict, the provisions of this Amendment shall govern. This Amendment
shall be binding upon Executive's heirs, executors, administrators and other
legal representatives and will be for the benefit of the Companies, their
successors and assigns. This Amendment may be executed in one or more
counterparts, each of which shall be deemed to be an original, but all of which
take together shall constitute one and the same instrument.
[signature page follows]
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IN WITNESS WHEREOF, this Amendment has been duly executed as of the date
first written above.
NOVATEL WIRELESS, INC.
/s/ XXXXXX XXXXXXX
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Xxxxxx Xxxxxxx, Chief Financial Officer
NOVATEL WIRELESS TECHNOLOGIES LTD.
/s/ XXXX XXXXX
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Xxxx Xxxxx, Chief Executive Officer
XXXXXXX XXX
/s/ XXXXXXX XXX
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Xxxxxxx Xxx
