Base Rent Waiver and Refund Agreement between Tarigo-Paul and General Magic, Inc. for 420 North Mary Avenue Lease

Summary

This agreement, dated February 4, 2002, is between Tarigo-Paul and General Magic, Inc. It states that if General Magic executes a new lease for the premises at 420 North Mary Avenue, Sunnyvale, California, by February 19, 2002, Tarigo-Paul will waive the base rent for March through June and refund the February base rent within 10 days of lease execution. The total benefit to General Magic is $186,102.00. This offer is additional consideration for signing the new lease.

EX-10.3 5 f81439ex10-3.txt EXHIBIT 10.3 EXHIBIT 10.3 [JAY PAUL COMPANY LOGO] February 4, 2002 Mary Doyle General Magic, Inc. 420 North Mary Avenue Sunnyvale, CA 94088 Re: Tarigo-Paul Lease to General Magic, Inc. for Premises at 420 North Mary Avenue, Sunnyvale, California -------------------------------------------------------- Dear Mary: As additional consideration for the execution, on or before February 19, 2002, of the Lease, the terms of which are currently under negotiation by Tarigo Paul and General Magic, Tarigo-Paul hereby agrees to waive payment of Base Rent under the existing Lease for March, April, May and June and will also refund (within 10 days after Lease execution) February Base Rent, for a net benefit to General Magic in the sum of $186,102.00. Jay Paul Company, By: /s/ Jay Paul ---------------------- Jay Paul, Managing Partner cc: Janette Sammartino Thomas G. Perkins, Esq.