Warrant Extension Agreement between All American Semiconductor, Inc. and The Equity Group, Inc.

Summary

All American Semiconductor, Inc. and The Equity Group, Inc. have agreed to extend the expiration date of a warrant allowing The Equity Group to purchase 9,000 shares of All American's common stock at $12.50 per share. The new expiration date is December 31, 2000. The Equity Group confirms that the only registration rights for these shares are piggy-back rights and agrees to enter into an underwriting agreement with standard indemnification and lock-up provisions if the shares are registered in an underwriting.

EX-10.2 3 0003.txt EXHIBIT 10.2 Exhibit 10.2 16115 N.W. 52nd Avenue Miami, Florida 33014-9317 Fax ###-###-#### e-mail: ***@*** [All American Logo] 305 ###-###-#### Howard L. Flanders Executive Vice President Chief Financial Officer June 30, 2000 VIA FACSIMILE ###-###-#### The Equity Group, Inc. 800 Third Avenue, 36th Floor New York, NY 10022 Attn.: Robert D. Goldstein, President RE: EXTENSION BY ALL AMERICAN SEMICONDUCTOR, INC. ("SEMI") OF THE WARRANT TO PURCHASE 9,000 POST-SPLIT SHARES (45,000 PRE-SPLIT SHARES) OF SEMI'S COMMON STOCK AT AN EXERCISE PRICE OF $12.50 POST-SPLIT ($2.50 PRE-SPLIT) PER SHARE (THE "WARRANT") Dear Bob: This letter agreement sets forth our understanding with respect to the extension of the expiration date of the Warrant granted to The Equity Group, Inc. ("Equity") pursuant to paragraph 3(b) of the Consulting Agreement dated July 1, 1995 between Equity and SEMI from June 30, 2000 to December 31, 2000. In consideration of SEMI's extension of the expiration date of the Warrant, Equity hereby agrees and confirms that the only registration rights associated with the Warrant are piggy-back registration rights. In addition, Equity agrees in the event that SEMI should at any time decide to do any type of underwriting that would include a registration of the shares underlying the Warrant, then Equity will enter into an underwriting agreement which will include, among other things, appropriate provisions indemnifying the underwriter and Equity will agree to restrictions for any reasonable lock-up period requested by the underwriter. Robert D. Goldstein June 30, 2000 Page 2 If you agree with the foregoing, please confirm your agreement by executing and returning a fully-executed copy to me via facsimile and the original by regular mail. This letter agreement will be effective as of June 30, 2000 when agreed to and accepted by Equity. Very truly yours, /s/ HOWARD L. FLANDERS - ---------------------- HLF/ggb Agreed to and Accepted by The Equity Group, Inc. By: /s/ ROBERT D. GOLDSTEIN ----------------------- Robert D. Goldstein President