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EXHIBIT 10.20
NON-QUALIFIED STOCK OPTION AGREEMENT
THE GOOD GUYS, INC.
THIS AGREEMENT made and entered into as of October 6, 2000, by and
between the Good Guys, Inc., a Delaware Corporation ("Company") and Xxxxxx X.
Xxxxxxxxxx (Optionee").
WITNESSETH:
WHEREAS, there has been granted to Optionee, effective as of October 6,
2000, a non-qualified stock option outside the 1994 Stock Incentive Plan of the
Company ("Incentive Plan").
NOW, THEREFORE, it is mutually agreed as follows:
1. The Optionee shall have a non-qualified stock option to acquire
75,000 shares of common stock of the Company ("the shares"), at the price of
$6.375 per share.
2. This option shall become exercisable at the rate of 33 1/3 % of the
total number of shares covered by this option on each of the first three
anniversaries of this Agreement.
3. This option shall not be exercisable after the expiration of ten
years from the date hereof.
4. Even though this option is not granted under the Incentive Plan, the
other terms of this option shall be the same as those provided for in the
Incentive Plan. The Incentive Plan is attached hereto and is incorporated herein
by this reference. Optionee has read the Incentive Plan and agrees to be bound
by its terms.
5. Any notice to be given by the Optionee under the terms of the Option
Plan shall be deemed to have been duly given if sent by certified mail, postage
and certification prepaid, to The Good Guys, Inc., 0000 Xxxxxx Xxxx., Xxxxxxxx,
Xxxxxxxxxx 00000, Attention: Chief Financial Officer.
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IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed as of the day and year referred to above.
THE GOOD GUYS, INC.
By: /s/ XXXXXX XXXXXXX
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Xxxxxx Xxxxxxx
By: /s/ XXXXXX X. XXXXXXXXXXX
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Xxxxxx X. Xxxxxxxxxxx
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