Exhibit 10.32

THIRD AMENDMENT TO

COBRA ELECTRONICS CORPORATION

2002 DEFERRED COMPENSATION PLAN

FOR SELECT EXECUTIVES

WHEREAS, Cobra Electronics Corporation, a Delaware
Corporation (the Company), has heretofore adopted and maintains a nonqualified deferred compensation plan titled the Cobra Electronics Corporation 2002 Deferred Compensation Plan for Select Executives (the Plan)
for the benefit of a select group of management and highly compensated employees; and

WHEREAS, the Company desires to amend
the Plan to add a new participant to the Plan and to increase the amount of credited on behalf of Sally Washlow, an existing participant, on and after August 1, 2010.

NOW THEREFORE, pursuant to the power of amendment contained in Section 13 of the Plan, the Plan is hereby amended, effective August 1, 2010, as follows:

1. Table 2 of Exhibit A to the Plan is amended in its entirety to read as follows:

Table 2

Individuals Who Become a Participant After December 31, 2002

and Whose
Years of Service Begin After January 1, 2002



|                                                                           |  |                                                                                                |        |  |                                                                                                             |                     |                                                                                                                                                                   |                                                              |                                                                                                                                                                         |         
|-------------------------------------------------------------------------- |  | ---------------------------------------------------------------------------------------------- | ------ |  | ----------------------------------------------------------------------------------------------------------- | ------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------
|(a)
Participant/ Date of becoming
Participant/ Date Years of Service begin |  | (b)Amount credited asof 
the day identifiedin column (c) duringyear of becoming aParticipant * |        |  | (c)Day during the year 
ofbecoming a Participantas of which the amountidentified in column (b)is credited * |                     | (d)Amount credited as ofthe 
day identified in column (e)during each year after theyear of becoming aParticipant up to
andincluding the year ofattaining age 65 * |                                                              | (e)Day during each yearafter the
year ofbecoming aParticipant up to andincluding the year ofattaining age 65 as ofwhich the amountidentified in column(d) is credited *
|Sally WashlowNovember 1, 2008May 14, 2007                                  |  | $                                                                                              | 17,922 |  |                                                                                                             | September 18 (2008) |                                                                                                                                                                   | For years prior to 2011- $17,922 For 2011 and after -$22,000 |                                                                                                                                                                         | April 15
|Bob BenAugust 1, 2010January 1, 2009                                       |  | $                                                                                              | 29,298 |  |                                                                                                             | August 1,(2010)     |                                                                                                                                                                   | $29,298                                                      |                                                                                                                                                                         | April 15

* All identified amounts are
credited as of the identified dates pursuant to (and subject to the terms and conditions of) Section 3(b).

Note that no amount is
credited as of any day during any year following the year during which the Participant attains age 65.



1



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IN WITNESS WHEREOF, the Company has caused this instrument to be
executed by its duly authorized officers this 19thday of
November, 2010.



COBRA ELECTRONICS CORPORATIONBy:

/s/ Michael SmithTitle:

Senior Vice President & CFO