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EXHIBIT 10.18
FIRST AMENDMENT TO OPTION AGREEMENT
This First Amendment to Option Agreement (this "Amendment"), dated as
of December 1, 1999, is by and between Xxxxxxx X. Xxxx ("Optionee"), and
Mobility Electronics, Inc., a Delaware corporation (f/k/a "Electronics
Accessory Specialists International, Inc.") (the "Company").
W I T N E S S E T H :
WHEREAS, the Company and Optionee are parties to that certain Option
Agreement, dated as of August 23, 1996 (the "Option Agreement"); and
WHEREAS, the Company and Optionee desire to amend the Option Agreement
to the extent provided below;
NOW, THEREFORE, the Option Agreement is hereby amended as follows:
A. AMENDMENTS TO OPTION AGREEMENT. The Option Agreement is hereby
amended as follows:
1. The first paragraph of Section 3 of the Option Agreement is
hereby amended to read in its entirety as follows:
"The Option will expire on the earlier of: (i) March 31,
2003; or (ii) 180 days after the Termination Date (as such term is
defined in that certain Employment Agreement, of even date herewith,
by and between the Company and Optionee); provided, however, that in
no event shall this Option expire prior to September 22, 2000.
B. MISCELLANEOUS.
1. Except as specifically provided herein, the Plan shall
remain in full force and effect.
2. This Amendment may be executed in two or more
counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.
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IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the date first above written.
MOBILITY ELECTRONICS, INC.
By: /s/ XXXXXXX X. XXXXX
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Xxxxxxx X. Xxxxx,
Chief Executive Officer
/s/ XXXXXXX X. XXXX
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Xxxxxxx X. Xxxx
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