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                                                                 Exhibit 10.12.4

                     FOURTH ANMENDMENT TO LICENSE AGREEMENT

         This Fourth Amendment to License Agreement is dated effective as of
December 3, 2004 and is made by and between Emerson Radio Corp. ("Licensor") and
Funai Corporation, Inc. ("Licensee").

         WHEREAS, Licensor and Licensee are parties to that License Agreement
dated effective January 1, 2001, as amended (collectively, the "Agreement"); and

         WHEREAS, the parties hereto wish to amend the Agreement.

         NOW, THEREFORE, the parties agree to the following:

         1. Amendment of Section 3 of the Agreement. Section 3 of the Agreement
shall be amended to read in full as follows:

                  "(a) Subject to the earlier expiration or termination of this
         Agreement as provided in Section 9 or otherwise, this Agreement shall
         be effective as of the Effective Date and expire as of the close of
         business on December 31, 2006 ("Initial Term"). The parties agree that
         each September, beginning September 2005, they shall meet and discuss a
         one-year extension of the then expiration date of the Agreement, and
         the minimum royalties and gross sales projections for any such extended
         term, provided (i) Licensee has paid to Licensor all Royalties and
         Minimum Royalties payable for each Contract Year as set forth herein on
         Third Amended Exhibit C of this Agreement, and (ii) Licensee has
         satisfied and/or complied with all of its obligations hereunder. Each
         successive renewal period shall hereinafter be referred to as a
         "Renewal Term." "Initial Term" and "Renewal Term" shall collectively be
         referred to as "Term".

         "(b) Notwithstanding any language herein to the contrary, should the
         parties not agree pursuant to Section 3(a) herein of an extension of
         the then expiration date of the Agreement or should the Agreement
         terminate, if at least one hundred twenty (120) days prior to the
         actual date of expiration or termination of this Agreement Licensor
         shall receive an offer from a third party for a license to use the
         Trademark on the Goods in the Territory, then in such case Licensor
         shall within ten (10) days thereafter notify Licensee in writing if it
         wishes to be granted by Licensor a license to use the Trademark on the
         Goods in the Territory pursuant to the same terms and conditions as
         those stated in such third party's offer. If Licensee so notifies
         Licensor in writing within thirty (30) days of its receipt of such
         notice that it is exercising such right of first refusal, then Licensor
         and Licensee shall enter into a formal written agreement signed by both
         parties and Licenser shall not grant such license to such third party
         or any other party, if Licensee does not timely notify Licensor that it
         is exercising such right of first refusal, then Licensor shall have the
         right to accept such offer from such third party and Licensee shall no
         longer have any rights pursuant to this Section 3(b), except that if
         Licensor shall in such case not agree to such offer from such third
         party, then Licensee's rights pursuant to this Section 3(b) shall
         continue to exist."

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         2. Capitalized Terms. All capitalized terms not defined herein shall
have the same meaning as in the Agreement.

         3. Counterparts. This Fourth Amendment and any future amendments may be
executed in several counterparts that together shall constitute but one and the
same document.

         4. All Other Provisions of the Agreement. All other provisions of the
Agreement not amended herein shall continue to have their full force and effect.

         IN WITNESS WHEREOF, this Fourth Amendment has been executed by the duly
authorized representative of each party effective as of the date first set forth
above.

EMERSON RADIO CORP.                                   FUNAI CORPORATION, INC.
"Licensor"                                            "Licensee"

By:  /s/ John J. Raab                                 By: /s/ Takeshi Ito
    -----------------------                               ---------------------
Name: John J. Raab                                    Name: Takeshi Ito

Title: COO/Senior                                     Title: President
       Executive Vice President

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                                                                 Exhibit 10.13.3

                       FIFTH LEASE MODIFICATION AGREEMENT

         THIS FIFTH LEASE MODIFICATION AGREEMENT, made this 2nd day of December
2004 by and between HARTZ MOUNTAIN INDUSTRIES, INC., a New York corporation
having an office at 400 Plaza Drive, P.O. Box 1515, Secaucus, New Jersey
07096-1515 (hereinafter referred to as "Landlord") and EMERSON RADIO CORP., a
Delaware corporation having an office at 9 Entin Road, Parsippany, NJ 07054-0430
(hereinafter referred to as "Tenant").

                                  WITNESSETH:

         WHEREAS, by Agreement of Lease dated March 26, 1993, as amended by
First Lease Modification Agreement dated July 23, 1993, Second Lease
Modification Agreement dated May 15, 1998, Third Lease Modification Agreement
dated October 26, 1998 and Fourth Lease Modification Agreement dated February
12, 2003, Landlord leased to Tenant and Tenant hired from Landlord 21,909 square
feet of Floor Space located on the second floor of 9 Entin Road in Parsippany,
New Jersey (hereinafter the "Demised Premises"); and

         WHEREAS, Landlord and Tenant wish to further modify the Lease (a) to
reflect an increase in the area of the Demised Premises and (b) to extend the
Term of the Lease and amend the Lease accordingly;

         NOW, THEREFORE, for and in consideration of the Lease, the mutual
covenants herein contained and the consideration set forth herein, the parties
agree as follows:

         1. All terms set forth herein are as defined in the Lease unless
otherwise specifically described hereinbelow.

         2. Landlord hereby leases to Tenant, and Tenant hereby hires from
Landlord, an additional five hundred sixty seven (567) square feet of Floor
Space which Floor Space is outlined in red on the attached Exhibit A (the "Third
Additional Premises"). Except as expressly provided herein, all references in
the Lease to the Demised Premises shall include the Floor Space encompassed by
both the Demised Premises prior to the addition of the Third Additional Premises
(21,909 square feet) and the Third Additional Premises (567 square feet) for a
total of 22,476 square feet.

         3. The Commencement Date of the Lease with respect to the Third
Additional Premises shall be the earlier of (a) the date on which both: (1) the
Third Additional Premises shall be Ready for Occupancy, and (ii) actual
possession of the Third Additional Premises shall have been delivered to Tenant
by notice to Tenant, or (b) the date Tenant, or anyone claiming under or through
Tenant, first occupies the Third Additional Premises or any part thereof for any
purpose other than the performance of Tenant's Work.

         4. The Term of the Lease for the entire Demised Premises (including but
not limited to the Third Additional Premises) is hereby extended from October
31, 2008 to December 30, 2009 (the "Second Extension Period") on the same terms
and conditions as in effect immediately prior to such Second Extension Period.
The Fixed Rent for the entire Demised Premises, including the Third Additional
Premises, shall be Twenty and 00/100 Dollars ($20.00) per square foot of Floor
Space per annum. Tenant shall have no right to extend the Term beyond the
expiration of the Second Extension Period.

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         5. Effective on the Commencement Date of the Third Additional Premises,
Tenant's Fraction shall be increased by .003% and Tenant's Fraction of the
entire Demised Premises (including but not limited to the Third Additional
Premises) shall be increased to 11.73%.

         6. Landlord, at its own cost and expense, shall (1) demise the space
and separate the utilities; (ii) remove the existing door and sheet rock the
opening; and (iii) in a manner mutually acceptable to both parties, create a new
six foot wide opening from the existing telco room.

         7. Both parties represent that no broker was instrumental in bringing
about or consummating this Fifth Lease Modification Agreement and that neither
party had conversations or negotiations with any broker concerning this Fifth
Lease Modification. Tenant agrees to indemnify and hold harmless Landlord
against and from any claims for any brokerage commissions and all costs,
expenses and liabilities in connection therewith, including, without limitation,
reasonable attorneys' fees and expenses, arising out of any conversations or
negotiations had by Tenant with any broker.

         8. Except as provided herein, all of the terms and conditions of the
Lease as amended above are in full force and effect and are confirmed as if
fully set forth herein.

         IN WITNESS WHEREOF, the parties hereto have caused this Fifth Lease
Modification Agreement to be duly executed as of the day and year first above
written.

                                   HARTZ MOUNTAIN INDUSTRIES, INC.

                                   By: /s/ Irwin A. Horowitz
                                       ---------------------------
                                       Irwin A. Horowitz
                                       Executive Vice President

                                   EMERSON RADIO CORP.

                                   By:  /s/ Guy A. Paglinco
                                       ---------------------------
                                       Guy A. Paglinco
                                       Vice President,
                                       Chief Financial Officer

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