Document:

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                                                                   EXHIBIT 10.49

                                  UNIVERSAL ELECTRONICS INC.
                                   2002 STOCK INCENTIVE PLAN

                                  EFFECTIVE FEBRUARY 5, 2002

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                                TABLE OF CONTENTS

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SECTION 1.GENERAL PURPOSE OF PLAN; DEFINITIONS.............................................A-3

SECTION 2.ADMINISTRATION...................................................................A-4

SECTION 3.NUMBER OF SHARES OF STOCK SUBJECT TO PLAN........................................A-5

SECTION 4.ELIGIBILITY......................................................................A-5

SECTION 5.STOCK OPTIONS....................................................................A-6

SECTION 6.STOCK APPRECIATION RIGHTS........................................................A-8

SECTION 7.RESTRICTED STOCK UNITS AND PERFORMANCE STOCK UNITS...............................A-9

SECTION 8.AMENDMENT AND TERMINATION...................................................... A-10

SECTION 9.UNFUNDED STATUS OF PLAN.........................................................A-11

SECTION 10.GENERAL PROVISIONS.............................................................A-11

SECTION 11.EFFECTIVE DATE OF PLAN.........................................................A-12

SECTION 12.TERM OF PLAN...................................................................A-12
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                           UNIVERSAL ELECTRONICS INC.
                            2002 STOCK INCENTIVE PLAN

SECTION 1.  GENERAL PURPOSE OF PLAN; DEFINITIONS.

The name of this Plan is the Universal Electronics Inc. 2002 Stock Incentive
Plan (the "Plan"). The purpose of this Plan is to enable the Corporation (as
hereinafter defined) and its Subsidiaries (as hereinafter defined) to obtain and
retain competent personnel who will contribute to the Corporation's success by
their ability, ingenuity and industry and to provide incentives to the
participating directors, officers and other employees which are related to
increases in stockholder value and will therefore inure to the benefit of all
stockholders of the Corporation.

For purposes of this Plan, the following terms shall be defined as set forth
below:

(a)  "Award" means any grant under this Plan in the form of Stock Options, Stock
     Appreciation Rights, Performance Stock Units, Restricted Stock Units or any
     combination of the foregoing.

(b)  "Board" means the Board of Directors of the Corporation.

(c)  "Code" means the Internal Revenue Code of 1986, as amended from time to
     time, or any successor thereto.

(d)  "Committee" means the Compensation Committee or any other committee the
     Board may subsequently appoint to administer this Plan. The Committee shall
     be composed entirely of directors who meet the qualifications referred to
     in Section 2 of this Plan.

(e)  "Corporation" means Universal Electronics Inc., a corporation incorporated
     under the laws of the State of Delaware (or any successor corporation),
     including, where applicable, any and all of its subsidiaries or related
     entities.

(f)  "Disability" means an event of illness or other incapacity of Optionee
     resulting in Optionee's failure or inability to discharge Optionee's duties
     as an employee of the Corporation, any Subsidiary or any Related Entity for
     ninety (90) or more days during any period of 120 consecutive days.

(g)  "Eligible Employee" means an employee of the Corporation, any Subsidiary or
     any Related Entity as described in Section 4 of this Plan.

(h)  "Fair Market Value" means, as of any given date, with respect to any Awards
     granted hereunder, the mean of the high and low trading price of the Stock
     on such date as reported on The Nasdaq Stock Market or if the Stock is not
     then traded on The Nasdaq Stock Market, on such other national securities
     exchange on which the Stock is admitted to trade or, if none, on the
     National Association of Securities Dealers Automated Quotation System if
     the Stock is admitted for quotation thereon; provided, however, that if any
     such system, exchange or quotation system is closed on any day on which
     Fair Market Value is to be determined, Fair Market Value shall be
     determined as of the first day immediately proceeding such day on which
     such system, exchange or quotation system was open for trading; provided,
     further, that in all other circumstances, "Fair Market Value" means the
     value determined by the Committee after obtaining an appraisal by one or
     more independent appraisers meeting the requirements of regulations issued
     under Section 170(a)(1) of the Code.

(i)  "Incentive Stock Option" means any Stock Option intended to qualify as an
     "incentive stock option" within the meaning of Section 422 of the Code.

(j)  "Non-Employee Director" shall have the meaning set forth in Rule 16b-3
     ("Rule 16b-3"), as promulgated by the Securities and Exchange Commission
     under the Securities Exchange Act of 1934, as amended from time to time
     (the "Exchange Act"), or any successor definition adopted by the Securities
     and Exchange Commission.

(k)  "Nonqualified Stock Option" means any Stock Option that is not an Incentive
     Stock Option.

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(l)  "Optionee" means a Participant granted a Stock Option pursuant to Section 5
     of this Plan which remains outstanding.

(m)  "Participant" means any Eligible Employee selected by the Committee,
     pursuant to the Committee's authority in Section 2 of this Plan, to receive
     Awards.

(n)  "Performance Stock Unit" means the right to receive one share of Stock as
     set forth in an Award granted pursuant to Section 7 of this Plan.

(o)  "Related Entity" means any corporation, joint venture or other entity,
     domestic or foreign, other than a Subsidiary, in which the Corporation
     owns, directly or indirectly, a substantial equity interest.

(p)  "Restricted Stock Unit" means the right to receive one share of Stock as
     set forth in an Award granted pursuant to Section 7 of this Plan.

(q)  "Retirement" means (i) retirement from active employment under a retirement
     plan of the Corporation, any Subsidiary or Related Entity or under an
     employment contract with any of them or (ii) termination of employment at
     or after age 55 under circumstances which the Committee, in its sole
     discretion, deems equivalent to retirement.

(r)  "Stock" means the common stock, par value $0.01 per share, of the
     Corporation.

(s)  "Stock Appreciation Right" means the right pursuant to an Award granted
     under Section 6 of this Plan, (i) in the case of a Related Stock
     Appreciation Right (as defined in Section 6 of this Plan), to surrender to
     the Corporation all or a portion of the related Stock Option and receive an
     amount equal to the excess of the Fair Market Value of one share of Stock
     as of the date such Stock Option or portion thereof is surrendered over the
     option price per share specified in such Stock Option, multiplied by the
     number of shares of Stock in respect of which such Stock Option is being
     surrendered and (ii) in the case of a Freestanding Stock Appreciation Right
     (as defined in Section 6 of this Plan), receive an amount equal to the
     excess of the Fair Market Value of one share of Stock as of the date of
     exercise over the price per share specified in such Freestanding Stock
     Appreciation Right, multiplied by the number of shares of Stock in respect
     of which such Freestanding Stock Appreciation Right is being exercised.

(t)  "Stock Option" means any option to purchase shares of Stock granted
     pursuant to Section 5 of this Plan.

(u)  "Subsidiary" means any corporation in an unbroken chain of corporations
     beginning with the Corporation, if each of the corporations (other than the
     last corporation in the unbroken chain) owns stock possessing 50% or more
     of the total combined voting power of all classes of stock in one of the
     other corporations in the chain.

SECTION 2.  ADMINISTRATION.

This Plan shall be administered by the Committee, composed solely of two or more
directors who are Non-Employee Directors, who shall be appointed by the Board
and who shall serve at the pleasure of the Board. In the event that a Committee
has not been appointed or in the Board's sole discretion, this Plan shall be
administered by the Board which shall have all of the power and authority of the
Committee set forth below. The Committee shall have the power and authority in
its sole discretion to grant Awards pursuant to the terms and provisions of this
Plan.

In particular, the Committee shall have the full authority, not inconsistent
with this Plan:

(a)  to select Participants;

(b)  to determine whether and to what extent Awards are to be granted to
     Participants hereunder;

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(c)  to determine the number of shares of Stock to be covered by each such Award
     granted hereunder, but in no case shall such number be in the aggregate
     greater than that allowed under this Plan;

(d)  to approve or ratify transactions by Participants involving acquisitions
     from the Corporation or dispositions to the Corporation of equity
     securities of the Corporation made pursuant to the terms of this Plan;

(e)  to determine the terms and conditions of any Award granted hereunder
     (including, without limitation, (i) the restrictive periods applicable to
     Restricted Stock Unit Awards and (ii) the performance objectives and
     periods applicable to Performance Stock Unit Awards);

(f)  to waive compliance by a Participant with any obligation to be performed by
     such Participant under any Award and to waive any term or condition of any
     such Award (provided, however, that no such waiver shall detrimentally
     affect the rights of the Participant without such Participant's consent);
     and

(g)  to determine the terms and conditions which shall govern all written
     agreements evidencing the Awards.

The Committee shall have the authority to adopt, alter and repeal such
administrative rules, guidelines and practices governing this Plan as it shall,
from time to time deem advisable; to interpret the provisions of this Plan and
the terms and conditions of any Award issued, expired, terminated, canceled or
surrendered under this Plan (and any agreements relating thereto); and to
otherwise supervise the administration of this Plan.

All decisions made by the Committee pursuant to the provisions of this Plan and
as to the terms and conditions of any Award (and any agreements relating
thereto) shall be final and binding on all persons, including the Corporation
and any Optionee.

SECTION 3.  NUMBER OF SHARES OF STOCK SUBJECT TO PLAN.

One million (1,000,000) shares of Stock are reserved and available for issuance
under this Plan. Such shares may consist, in whole or in part, of authorized and
unissued shares or issued shares reacquired by the Corporation from time to
time, as the Board may determine.

To the extent that (a) a Stock Option expires or is otherwise terminated,
canceled or surrendered without being exercised (including, without limitation,
in connection with the grant of a replacement option) or (b) any Restricted
Stock Unit Award or Performance Stock Unit Award granted hereunder expires or is
otherwise terminated or is canceled, the shares of Stock underlying such Stock
Option or subject to such Restricted Stock Unit Award or Performance Stock Unit
Award shall again be available for issuance in connection with future Awards
under this Plan. Upon the exercise of a Related Stock Appreciation Right, the
Stock Option, or the part thereof to which such Related Stock Appreciation Right
is related, shall be deemed to have been exercised for the purpose of the
limitation on the number of shares of Stock in respect of which the Related
Stock Appreciation Right was exercised.

In the event of any merger, reorganization, consolidation, recapitalization,
stock dividend, spin-off, or other change in corporate structure or
capitalization affecting the Stock, the Committee shall make an equitable
adjustment or substitution in the number and class of shares reserved for
issuance under this Plan, the number and class of shares covered by outstanding
Awards and the option price per share of Stock Options or the applicable price
per share specified in Stock Appreciation Rights to reflect the effect of such
change in corporate structure or capitalization on the Stock; provided, however,
that any fractional shares resulting from such adjustment shall be eliminated;
provided further, however, that if by reason of any such change in corporate
structure or capitalization a Participant holding a Restricted Stock Unit Award
or Performance Stock Unit Award shall be entitled, subject to the terms and
conditions of such Award, to additional or different shares of any security, the
issuance of such additional or different shares shall thereupon be subject to
all of the terms and conditions (including restrictions and performance
criteria) which were applicable to such Award prior to such change in corporate
structure or capitalization; and, provided, further, however, that unless the
Committee in its sole discretion determines otherwise, any issuance by the
Corporation of shares of stock of any class or securities convertible into
shares of stock of any class shall not affect, and no such adjustment or
substitution by reason thereof

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shall be made with respect to, the number or class of shares reserved for
issuance under this Plan, the number or class of shares covered by outstanding
Awards or any option price or applicable price.

SECTION 4.  ELIGIBILITY.

Directors, officers and other employees of the Corporation, its Subsidiaries and
its Related Entities who are responsible for or contribute to the management,
growth or profitability of the business of the Corporation, its Subsidiaries or
its Related Entities, as determined by the Committee, shall be eligible to be
granted Awards; provided however, with respect to an employee of a Related
Entity, that such person was an employee of the Corporation, a Subsidiary or, if
originally an employee of the Corporation or a Subsidiary, of another Related
Entity immediately prior to becoming employed by such Related Entity and
accepted employment with such Related Entity at the request of the Corporation
or a Subsidiary. The Participants under this Plan shall be selected, from time
to time, by the Committee, in its sole discretion, from among those Eligible
Employees.

SECTION 5.  STOCK OPTIONS.

(a)  GRANT AND EXERCISE. Stock Options may be granted either alone or in
     addition to other Awards granted under this Plan. Any Stock Option granted
     under this Plan shall be in such form as the Committee may, from time to
     time, approve, and the terms and conditions of Stock Option Awards need not
     be the same with respect to each Optionee. Each Optionee shall enter into a
     Stock Option agreement ("Stock Option Agreement") with the Corporation, in
     such form as the Committee shall determine, which agreement shall set
     forth, among other things, the exercise price of the Stock Option, the term
     of the Stock Option and conditions regarding exercisability of the Stock
     Option granted thereunder.

     (i)  NATURE OF OPTIONS. The Committee shall have the authority to grant any
          Participant either Incentive Stock Options, Nonqualified Stock Options
          or both types of Stock Options (in each case with or without Stock
          Appreciation Rights), except that the Committee shall not grant any
          Incentive Stock Options to an employee of a Related Entity. Any Stock
          Option which does not qualify as an Incentive Stock Option, or the
          terms of which at the time of its grant provide that it shall not be
          treated as an Incentive Stock Option, shall constitute a Nonqualified
          Stock Option.

     (ii) EXERCISABILITY. Subject to such terms and conditions as shall be
          determined by the Committee in its sole discretion at or after the
          time of grant, Stock Options shall be exercisable from time to time
          (a) to the extent of twenty-five percent (25%) of the number of shares
          of Stock covered by the Stock Option, on and after the first
          anniversary and before the second anniversary of the date of grant of
          the Stock Option, (b) to the extent of fifty percent (50%) of the
          number of shares of Stock covered by the Stock Option, on and after
          the second anniversary and before the third anniversary of the date of
          grant of the Stock Option, (c) to the extent of seventy-five percent
          (75%) of the number of shares of Stock covered by the Stock Option, on
          and after the third anniversary and before the fourth anniversary of
          the date of grant of the Stock Option and (d) to the extent of one
          hundred percent (100%) of the number of shares of Stock covered by the
          Stock Option, on and after the fourth anniversary of the date of grant
          of the Stock Option and before the expiration of the stated term of
          the Stock Option (or to such lesser extent as the Committee in its
          sole discretion shall determine at the time of grant or to such
          greater extent as the Committee in its sole discretion shall determine
          at or after the time of grant).

     (iii) METHOD OF EXERCISE. Stock Options may be exercised by giving written
          notice of exercise delivered in person or by mail as required by the
          terms of any Stock Option Agreement at the Corporation's principal
          executive office, specifying the number of shares of Stock with
          respect to which the Stock Option is being exercised, accompanied by
          payment in full of the option price in cash or its equivalent as
          determined by the Committee in its sole discretion. If requested by
          the Committee, the Optionee shall deliver to the Corporation the Stock
          Option Agreement evidencing the Stock Option being exercised for
          notation thereon of such exercise and return thereafter of such
          agreement to the Optionee. As determined by the Committee in its sole
          discretion at or after the time of grant, payment of the option price
          in full or in part may also be made in the form of shares of
          unrestricted Stock

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          already owned by the Optionee (based on the Fair Market Value of the
          Stock on the date the Stock Option is exercised); provided, however,
          that in the case of an Incentive Stock Option, the right to make
          payment of the option price in the form of already owned shares of
          Stock may be authorized only at the time of grant. The Committee also
          may allow cashless exercise as permitted under Federal Reserve Board's
          Regulation T, subject to applicable securities law restrictions, or by
          any other means which the Committee determines to be consistent with
          this Plan's purpose and applicable law. An Optionee shall generally
          have the rights to dividends or other rights of a stockholder with
          respect to shares of Stock subject to the Stock Option when the
          Optionee has given written notice of exercise, has paid in full for
          such shares of Stock, and, if requested, has made representations
          described in Section 10(a) of this Plan.

(b)  TERMS AND CONDITIONS. Stock Options granted under this Plan shall be
     subject to the following terms and conditions and shall contain such
     additional terms and conditions, not inconsistent with the terms of this
     Plan, as the Committee shall deem desirable.

     (i)  OPTION PRICE. The option price per share of Stock purchasable under a
          Stock Option shall be determined by the Committee at the time of
          grant, but shall be not less than 100% of the Fair Market Value of the
          Stock on the date of the grant; provided, however, that if any
          Participant owns or is deemed to own (by reason of the attribution
          rules of Section 424(d) of the Code) more than 10% of the combined
          voting power of all classes of stock of the Corporation or any
          Subsidiary when an Incentive Stock Option is granted to such
          Participant, the option price of such Incentive Stock Option (to the
          extent required by the Code at the time of grant) shall be not less
          than 110% of the Fair Market Value of the Stock on the date such
          Incentive Stock Option is granted.

     (ii) OPTION TERM. The term of each Stock Option shall be fixed by the
          Committee at the time of grant, but no Stock Option shall be
          exercisable more than ten years after the date such Stock Option is
          granted; provided, however, that if any Participant owns or is deemed
          to own (by reason of the attribution rules of Section 424(d) of the
          Code) more than 10% of the combined voting power of all classes of
          stock of the Corporation or any Subsidiary when an Incentive Stock
          Option is granted to such Participant, such Stock Option (to the
          extent required by the Code at time of grant) shall not be exercisable
          more than five years from the date such Incentive Stock Option is
          granted.

     (iii) TRANSFERABILITY OF OPTIONS. Except as otherwise determined by the
          Committee, no Stock Option shall be transferable by the Optionee
          otherwise than by will or by the laws of descent and distribution and,
          during the Optionee's lifetime, all Stock Options shall be exercisable
          only by the Optionee, or in the case of Optionee's legal incompetency,
          only by Optionee's guardian or legal representative.

     (iv) OPTION EXERCISE AFTER TERMINATION BY REASON OF DEATH OR DISABILITY. If
          an Optionee's employment with the Corporation, any Subsidiary or any
          Related Entity terminates by reason of death or Disability, and Stock
          Option held by such Optionee may thereafter be exercised for a period
          of one year (or such shorter or longer period as the Committee in its
          sole discretion shall specify at or after the time of grant) from the
          date of such termination or until the expiration of the stated term of
          such Stock Option, whichever period is shorter, to the extent to which
          the Optionee would on the date of termination have been entitled to
          exercise the Stock Option (or to such greater or lesser extent as the
          Committee in its sole discretion shall determine at or after the time
          of grant). In the event of a termination of employment by reason of
          death or Disability, if an Incentive Stock Option is exercised after
          the expiration of the exercise period that applies for purposes of
          Section 422 of the Code, such Stock Option will thereafter be treated
          as a Nonqualified Stock Option.

     (v)  OPTION EXERCISE AFTER TERMINATION WITHOUT CAUSE OR CONSTRUCTIVE
          TERMINATION. If an Optionee's employment with the Corporation, any
          Subsidiary, or any Related Entity is terminated, by the Corporation or
          such Subsidiary or such Related Entity, without "Cause" (as such term
          is defined in the Stock Option Agreement) or in the event of
          "Constructive Termination" (as such term is defined in the Stock
          Option Agreement), the Committee, in its sole discretion, may permit
          the Optionee to

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          exercise any Stock Option held by such Optionee, to the extent not
          theretofore exercised, in whole or in part with respect to all
          remaining shares covered by the Stock Option at any time prior to the
          expiration of the Stock Option (or such shorter period as the
          Committee in its sole discretion shall specify at or after the time of
          grant), or to such greater or lesser extent as the Committee in it
          sole discretion shall determine at or after the time of grant. An
          Optionee's acceptance of employment, at the request of the Corporation
          or a Subsidiary, with a Related Entity (or acceptance of employment,
          at the request of the Corporation or a Subsidiary, with any other
          Related Entity), shall not be deemed a termination of employment
          hereunder and any Stock Option held by Optionee may be exercised
          thereafter to the extent that the Optionee would on the date of
          exercise have been entitled to exercise such Stock Option if such
          Optionee had continued to be employed by the Corporation or such
          Subsidiary (or such initial Related Entity), provided that the
          Optionee has been in continuous employ with the Related Entity to
          which such Optionee has moved from the date of acceptance of
          employment therewith until the date of exercise. In the event of
          termination of employment by the Corporation, any Subsidiary or any
          Related Entity without Cause or in the event of Constructive
          Termination of the Optionee's employment or the acceptance of
          employment with a Related Entity, if an Incentive Stock Option is
          exercised after the expiration of the exercise period that applies for
          purposes of Section 422 of the Code, such Stock Option will thereafter
          be treated as a Nonqualified Stock Option.

     (vi) OPTION EXERCISE AFTER TERMINATION TO RESIGNATION. If an Optionee's
          employment with the Corporation, any Subsidiary, or any Related Entity
          terminates as a result of Optionee's voluntary resignation , other
          than a voluntary resignation due to a Constructive Termination (as
          defined in the Stock Option Agreement), the Committee, in its sole
          discretion, may permit the Optionee to exercise any Stock Option held
          by such Optionee to the extent such Option was exercisable on the date
          of such termination (or to such greater or lesser extent as the
          Committee in its sole discretion shall determine at or after the time
          of grant) for a period of time equal to the shorter of (i) ninety (90)
          days from the date of such termination (or such shorter period as the
          Committee in its sole discretion shall specify at or after the time of
          grant) or (ii) the expiration of the stated term of such Stock Option.

    (vii) OTHER TERMINATION. Except as otherwise provided in this Section 5 of
          this Plan, or as determined by the Committee in its sole discretion,
          if an Optionee's employment with the Corporation, any Subsidiary or
          any Related Entity terminates, all Stock Options held by the Optionee
          will terminate immediately without the necessity of any further action
          by the Corporation, the Committee or the Optionee.

   (viii) ANNUAL LIMIT ON INCENTIVE STOCK OPTIONS. To the extent required for
          incentive stock option treatment under Section 422 of the Code, the
          aggregate Fair Market Value (determined as of the date of Incentive
          Stock Option is granted) of the shares of Stock with respect to which
          Incentive Stock Options granted under this Plan and all other option
          plans of the Corporation or any Subsidiary become exercisable for the
          first time by an Optionee during any calendar year shall not exceed
          $100,000; provided, however, that if the aggregate Fair Market Value
          (so determined) of the shares of Stock covered by such options exceeds
          $100,000 during any year in which they become exercisable, such
          options with a Fair Market Value in excess of $100,000 will be
          Nonqualified Stock Options.

SECTION 6.  STOCK APPRECIATION RIGHTS.

(a)  GRANT AND EXERCISE. Stock Appreciation Rights may be granted either in
     conjunction with all or part of any Stock Option granted under this Plan
     ("Related Stock Appreciation Rights") or alone ("Freestanding Stock
     Appreciation Rights") and, in either case, in addition to other Awards
     granted under this Plan. Participants shall enter into a Stock Appreciation
     Rights Agreement with the Corporation if requested by the Committee, in
     such form as the Committee shall determine.

     (i)  TIME OF GRANT. Related Stock Appreciation Rights related to a
          Nonqualified Stock Option may be granted either at or after the time
          of the grant of such Nonqualified Stock Option. Related Stock
          Appreciation Rights related to such an Incentive Stock Option may be
          granted only at the time of the

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          grant of such Incentive Stock Option. Freestanding Stock Appreciation
          Rights may be granted at any time.

     (ii) EXERCISABILITY. Related Stock Appreciation Rights shall be exercisable
          only at such time or times and to the extent that the Stock Options to
          which they relate shall be exercisable in accordance with the
          provisions of Section 5(a)(ii) of this Plan and Freestanding Stock
          Appreciation Rights shall be exercisable, subject to such terms and
          conditions as shall be determined by the Committee in its sole
          discretion at or after the time of grant, from time to time, to the
          extent that Stock Options are exercisable in accordance with the
          provisions of Section 5(a)(ii) of this Plan. A Related Stock
          Appreciation Right granted in connection with an Incentive Stock
          Option may be exercised only if and when the Fair Market Value of the
          Stock subject to the Incentive Stock Option exceeds the option price
          of such Stock Option.

    (iii) METHOD OF EXERCISE. Stock Appreciation Rights shall be exercised by a
          Participant by giving written notice of exercise delivered in person
          or by mail as required by the terms of any agreement evidencing the
          Stock Appreciation Right at the Corporation's principal executive
          office, specifying the number of shares of Stock in respect of which
          the Stock Appreciation Right is being exercised. If requested by the
          Committee, the Participant shall deliver to the Corporation the
          agreement evidencing the Stock Appreciation Right being exercised and,
          in the case of a Related Stock Appreciation Right, the Stock Option
          Agreement evidencing any related Stock Option, for notation thereon of
          such exercise and return thereafter of such agreements to the
          Participant.

     (iv) AMOUNT PAYABLE. Upon the exercise of a Related Stock Appreciation
          Right, an Optionee shall be entitled to receive an amount in cash or
          shares of Stock equal in value to the excess of the Fair Market Value
          of one share of Stock on the date of exercise over the option price
          per share specified in the related Stock Option, multiplied by the
          number of shares of Stock in respect of which the Related Stock
          Appreciation Rights shall have been exercised, with the Committee
          having in its sole discretion the right to determine the form of
          payment. Upon the exercise of a Freestanding Stock Appreciation Right,
          a Participant shall be entitled to receive an amount in cash or shares
          of Stock equal in value to the excess of the Fair Market Value of one
          share of Stock on the date of exercise over the price per share
          specified in the Freestanding Stock Appreciation Right, which shall be
          not less than 100% of the Fair Market Value of the Stock on the date
          of Grant, multiplied by the number of shares of Stock in respect of
          which the Freestanding Stock Appreciation Rights shall have been
          exercised, with the Committee having in its sole discretion the right
          to determine the form of payment.

(b)  TERMS AND CONDITIONS. Stock Appreciation Rights under this Plan shall be
     subject to the following terms and conditions and shall contain such
     additional terms and conditions not inconsistent with the terms of this
     Plan, as the Committee shall deem desirable.

     (i)  TERMS OF STOCK APPRECIATION RIGHTS. The term of a Related Stock
          Appreciation Right shall be the same as the term of the related Stock
          Option. A Related Stock Appreciation Right or applicable portion
          thereof shall terminate and no longer be exercisable upon the
          exercise, termination, cancellation or surrender of the related Stock
          Option, except that, unless otherwise provided by the Committee in its
          sole discretion at or after the time of grant, a Related Stock
          Appreciation Right granted with respect to less than the full number
          of shares of Stock covered by a related Stock Option shall terminate
          and no longer be exercisable if and to the extent that the number of
          shares of Stock covered by the exercise, termination, cancellation or
          surrender of the related Stock Option exceeds the number of shares of
          Stock not covered by the Related Stock Appreciation Right.

     The term of each Freestanding Stock Appreciation Right shall be fixed by
     the Committee, but no Freestanding Stock Appreciation Right shall be
     exercisable more than ten years after the date such right is granted.

     (ii) TRANSFERABILITY OF STOCK APPRECIATION RIGHTS. Stock Appreciation
          Rights shall be transferable only when and to the extent that a Stock
          Option would be transferable under Section 5(b)(iii) of this Plan.

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     (iii) TERMINATION OF EMPLOYMENT. In the event of the termination of
          employment of an Optionee holding a Related Stock Appreciation Right,
          such right shall be exercisable to the same extent that the related
          Stock Option is exercisable after such termination. In the event of
          the termination of employment of the holder of a Freestanding Stock
          Appreciation Right, such right shall be exercisable to the same extent
          that a Stock Option with the same terms and conditions as such
          Freestanding Stock Appreciation Right would have been exercisable in
          the event of the termination of employment of the holder of such Stock
          Option.

SECTION 7.  RESTRICTED STOCK UNITS AND PERFORMANCE STOCK UNITS.

(a)  GRANT. Awards of Restricted Stock Units or Performance Stock Units may be
     granted either alone or in addition to other Awards granted under this
     Plan. Each Restricted Stock Unit or Performance Stock Unit represents the
     right to receive, subject to the terms and provisions of this Plan and any
     agreements evidencing such Awards, one share of Stock. If the Committee in
     its sole discretion so determines at the time of grant, a Participant to
     whom a Restricted Stock Unit Award or Performance Stock Unit Award has been
     granted may be credited with an amount equivalent to all cash dividends
     ("Dividend Equivalents") that would have been paid to the holder of such
     Restricted Stock Unit Award or Performance Stock Unit Award if one share of
     Stock for every Restricted Stock Unit or Performance Stock Unit awarded had
     been issued to the holder on the date of grant of such Restricted Stock
     Unit Award or Performance Stock Unit Award. The Committee shall determine
     the terms and conditions of each Restricted Stock Unit Award and
     Performance Stock Unit, including without limitation, the number of
     Restricted Stock Units or Performance Stock Units to be covered by such
     Awards, the restricted period applicable to Restricted Stock Unit Awards
     and the performance objectives applicable to Performance Stock Unit Awards.
     The Committee in its sole discretion may prescribe terms and conditions
     applicable to the vesting of such Restricted Stock Unit Awards or
     Performance Stock Unit Awards in addition to those provided in this Plan.
     The Committee shall establish such rules and guidelines governing the
     crediting of Dividend Equivalents, including the timing, form of payment
     and payment contingencies of Dividend Equivalents, as it may deem
     desirable. The Committee in its sole discretion may at any time accelerate
     the time at which the restrictions on all or any part of a Restricted Stock
     Unit Award lapse or deem the performance objectives with respect to all or
     any part of a Performance Stock Unit Award to have been attained.
     Restricted Stock Units Awards and Performance Stock Unit Awards shall not
     be transferable otherwise than by will or by the laws of descent and
     distribution. Shares of Stock shall be deliverable upon the vesting of
     Restricted Stock Unit Awards and Performance Stock Unit Awards for no
     consideration other than services rendered or, in the Committee's sole
     discretion, the minimum amount of consideration other than services (such
     as the par value of Stock) required to be received by the Corporation in
     order to assure compliance with applicable state law, which amount shall
     not exceed 10% of the Fair Market Value of such shares of Stock on the date
     of issuance. Each such Award shall be evidenced by a Restricted Stock Unit
     Award agreement ("Restricted Stock Unit Award Agreement") or Performance
     Stock Unit Award agreement ("Performance Stock Unit Award Agreement").

(b)  TERMS AND CONDITIONS. Unless otherwise determined by the Committee in its
     sole discretion:

     (i)  a breach of any term or condition provided in this Plan, the
          Restricted Stock Unit Award Agreement or the Performance Stock Unit
          Award Agreement or established by the Committee with respect to such
          Restricted Stock Unit Award or Performance Stock Unit Award will cause
          a cancellation of the unvested portion of such Restricted Stock Unit
          Award or Performance Stock Unit Award (including any Dividend
          Equivalents credited in respect thereof) and the Participant shall not
          be entitled to receive any consideration in respect of such
          cancellation; and

     (ii) termination of such holder's employment with the Corporation, any
          Subsidiary or any Related Entity prior to the lapsing of the
          applicable restriction period or attainment of applicable performance
          objectives will cause a cancellation of the unvested portion of such
          Restricted Stock Unit Award or Performance Stock Unit Award (including
          any Dividend Equivalents credited in respect thereof) and the
          Participant shall not be entitled to receive any consideration in
          respect of such cancellation.

                                       8
<PAGE>

(c)  COMPLETION OF RESTRICTION PERIOD AND ATTAINMENT OF PERFORMANCE OBJECTIVES.
     To the extent that restrictions with respect to any Restricted Stock Unit
     Award lapse or performance objectives with respect to any Performance Stock
     Unit Award are attained and provided that other applicable terms and
     conditions have been satisfied:

     (i)  such of the Restricted Stock Units or Performance Stock Units as to
          which restrictions have lapsed or performance objectives have been
          attained shall become vested and the Committee shall cause to be
          issued and delivered to the Participant a stock certificate
          representing a number of shares of Stock equal to such number of
          Restricted Stock Units or Performance Stock Units, and, subject to
          Section 10(a) hereof, free of all restrictions; and

     (ii) any Dividend Equivalents credited in respect of such Restricted Stock
          Units or Performance Stock Units shall become vested to the extent
          that such Restricted Stock Units or Performance Stock Units shall have
          become vested and the Committee shall cause such Dividend Equivalents
          to be delivered to the Participant.

Any such Restricted Stock Unit Award or Performance Stock Unit Award (including
any Dividend Equivalents credited in respect thereof) that shall not have become
vested at the end of the applicable restricted period or the period given for
the attainment of performance objectives shall expire, terminate and be canceled
and the Participant shall not thereafter have any rights with respect to the
Restricted Stock Units or Performance Stock Units (or any Dividend Equivalents
credited in respect thereto) covered thereby.

SECTION 8.  AMENDMENT AND TERMINATION.

The Board may amend, alter, or discontinue this Plan, but no amendment,
alteration, or discontinuation shall be made which would impair the rights of a
Participant under any Award theretofore granted without such Participant's
consent, or which, without the approval of the stockholders of the Corporation
(where such approval is necessary to satisfy then applicable requirements of
Rule 16b-3 under the Exchange Act, The Nasdaq Stock Market, Inc., any Federal
tax law relating to Incentive Stock Options or any applicable state law), would:

(a)  except as provided in Section 3 of this Plan, increase the total number of
     shares of Stock which may be issued under this Plan;

(b)  except as provided in Section 3 of this Plan, decrease the option price of
     any Stock Option to less than 100% of the Fair Market Value on the date of
     the grant of the Option;

(c)  change the class of employees eligible to participate in this Plan; or

(d)  extend (i) the period during which Stock Options may be granted or (ii) the
     maximum period of any Award under Sections 5(b)(ii) or 6(b)(i) of this
     Plan.

Except as restricted herein with respect to Incentive Stock Options, the
Committee may amend or alter the terms and conditions of any Award theretofore
granted, and of any agreement evidencing such Award, prospectively or
retroactively, but no such amendment or alteration shall impair the rights of
any Optionee under such Award or agreement without such Optionee's consent.

SECTION 9.  UNFUNDED STATUS OF PLAN.

This Plan is intended to constitute an "unfunded" plan. With respect to any
payments not yet made and due to a Participant by the Corporation, nothing
contained herein shall give any such Participant any rights that are greater
than those of a general unsecured creditor of the Corporation.

                                       9
<PAGE>

SECTION 10.  GENERAL PROVISIONS.

(a)  The Committee may require each Optionee purchasing shares of Stock pursuant
     to a Stock Option to represent to and agree with the Corporation in writing
     that such Optionee is acquiring the shares of Stock without a view to
     distribution thereof. All certificates for shares of Stock delivered under
     this Plan and, to the extent applicable, all evidences of ownership with
     respect to Dividend Equivalents delivered under this Plan, shall be subject
     to such stock-transfer orders and other restrictions as the Committee may
     deem advisable under the rules, regulations and other requirements of the
     Securities and Exchange Commission, any stock exchange upon which the Stock
     is then listed or quotation system on which the Stock is admitted for
     trading and any applicable Federal or state securities law, and the
     Committee may cause a legend or legends to be put on any such certificates
     to make appropriate reference to such restrictions.

(b)  Nothing contained in this Plan shall prevent the Board from adopting other
     or additional compensation arrangements, subject to stockholder approval if
     such approval is required, and such arrangements may be either generally
     applicable or applicable only in specific cases. The adoption of this Plan
     shall not confer upon any employee of the Corporation, any Subsidiary or
     any Related Entity any right to continued employment with the Corporation,
     any Subsidiary or any Related Entity as the case may be, nor shall it
     interfere in any way with the right of the Corporation, any Subsidiary or
     any Related Entity to terminate the employment of any of its employees at
     any time.

(c)  Each Participant shall be deemed to have been granted an Award on the date
     the Committee took action to grant such Award under this Plan or such later
     date as the Committee in its sole discretion shall determine at the time
     such grant is authorized.

(d)  Unless the Committee otherwise determines, each Participant shall, no later
     than the date as of which the value of an Award first becomes includable in
     the gross income of the Participant for federal income tax purposes, pay to
     the Corporation, or make arrangements satisfactory to the Committee
     regarding payment of, any federal, state or local taxes of any kind
     required by law to be withheld with respect to the Award. The obligations
     of the Corporation under this Plan shall be conditional on such payment or
     arrangements and the Corporation (and, where applicable, its Subsidiaries
     and its Related Entities) shall, to the extent permitted by law, have the
     right to deduct any such taxes from any payment of any kind otherwise due
     to the Participant. A Participant may elect to have such tax withholding
     obligation satisfied, in whole or in part, by (i) authorizing the
     Corporation to withhold from shares of Stock to be issued upon the exercise
     of a Stock Option or upon the vesting of any Restricted Stock Unit Award or
     the Performance Stock Unit Award a number of shares of Stock with an
     aggregate Fair Market Value that would satisfy the withholding amount due,
     or (ii) transferring to the Corporation shares of Stock owned by the
     Participant with an aggregate Fair Market Value that would satisfy the
     withholding amount due. With respect to any Participant who is a director
     or an executive officer, the election to satisfy the tax withholding
     obligations relating to the exercise of a Stock Option or to the vesting of
     a Restricted Stock Unit Award or Performance Stock Unit Award in the manner
     permitted by this subsection (d) shall be made during the "window period"
     as described within the Corporation Insider Trading Policy unless otherwise
     determined in the sole discretion of the Committee of the Board.

(e)  No member of the Board or the Committee, nor any officer or employee of the
     Corporation acting on behalf of the Board or the Committee, shall be
     personally liable for any action, failure to act, determination or
     interpretation taken or made in good faith with respect to this Plan, and
     all members of the Board or the Committee and each and any officer or
     employee of the Corporation acting on their behalf shall, to the extent
     permitted by law and by the Corporation's Amended and Restated Certificate
     of Incorporation, as amended, and its Amended and Restated By-Laws, as
     amended, be fully indemnified and protected by the Corporation in respect
     of any such action, failure to act, determination or interpretation.

(f)  This Plan is intended to satisfy the conditions of Rule 16b-3 under the
     Exchange Act, and all interpretations of this Plan shall, to the extent
     permitted by law, regulations and rulings, be made in a manner consistent
     with and so as to satisfy the conditions of Rule 16b-3 under the Exchange
     Act. The term "executive officer" as used in

                                       10
<PAGE>

     this Plan means any officer who is subject to the provisions of Section
     16(b) of the Exchange Act. Any provisions of this Plan or the application
     of any provision of this Plan inconsistent with Rule 16b-3 under the
     Exchange Act shall be inoperative and shall not affect the validity of this
     Plan.

(g)  In interpreting and applying the provisions of this Plan, any Stock Option
     granted as an Incentive Stock Option pursuant to this Plan shall, to the
     extent permitted by law, regulations and rulings be construed as, and any
     ambiguity shall be resolved in favor of preserving its status as, an
     "incentive stock option" within the meaning of Section 422 of the Code.
     Once an Incentive Stock Option has been granted, no action by the Committee
     that would cause such Stock Option to lose its status under the Code as an
     "incentive stock option" shall be effective as to such Incentive Stock
     Option unless taken at the request of or with the consent of the
     Participant. Notwithstanding any provision to the contrary in this Plan or
     in any Incentive Stock Option granted pursuant to this Plan, if any change
     in law or any regulation or ruling of the Internal Revenue Service shall
     have the effect of disqualifying any Stock Option granted under this Plan
     which is intended to be an "incentive stock option" within the meaning of
     Section 422 of the Code, the Stock Option granted shall nevertheless
     continue to be outstanding as and shall be deemed to be a Nonqualified
     Stock Option under this Plan.

(h)  Notwithstanding any other provision herein to the contrary, the maximum
     number of shares with respect to which Awards may be granted to the same
     Participant under this Plan may not exceed, in the aggregate, 266,666
     shares of Stock, except to the extent of adjustments authorized by Section
     3 of this Plan.

SECTION 11.  EFFECTIVE DATE OF PLAN.

This Plan shall be effective February 5, 2002.

SECTION 12.  TERM OF PLAN.

No Award shall be granted under this Plan on or after the tenth anniversary of
the effective date of this Plan; provided, however, that the exercisability of
Awards granted prior to such tenth anniversary may extend beyond that date.

                                       11<PAGE>
                                                                   EXHIBIT 10.50

                             STOCK OPTION AGREEMENT

THIS STOCK OPTION AGREEMENT is made as of the date set forth on the signature
page hereof by and between Universal Electronics Inc., a Delaware corporation
(the "Corporation") and the undersigned Optionee (the "Optionee"). As used in
this Agreement, the term "Corporation" shall include, where applicable, any and
all of its subsidiaries or related entities. Any capitalized term used in this
Agreement that is not defined herein shall have the meaning thereof set forth in
the Universal Electronics Inc. 2002 Stock Incentive Plan (the "Plan").

WHEREAS, the Compensation Committee of the Board of Directors of the Corporation
(the "Committee") and the Board of Directors of the Corporation (the "Board")
have approved the Plan;

WHEREAS, the Board has designated and empowered the Committee to administer the
Plan; and

WHEREAS, the Committee has determined that the Optionee, as an Eligible
Employee, should be granted a stock option ("Option") under the Plan to purchase
shares of the Corporation's common stock, par value $0.01 per share (the
"Stock"), upon the terms and conditions set forth in this Agreement;

NOW, THEREFORE, the parties, intending to be legally bound, hereto agree as
follows:

1.   GRANT AND DESIGNATION OF OPTION. Upon the execution and delivery of this
     Agreement and the related Stock Option Certificate of even date herewith
     (the "Certificate"), the Corporation hereby grants to the Optionee the
     Option to purchase the aggregate number of shares of Stock set forth on the
     Certificate at the price per share ("Option Price") further set forth on
     the Certificate.

2.   TERM AND EXERCISE OF OPTION. Subject to earlier termination, acceleration
     or cancellation of the Option as provided herein, the term of the Option
     shall be for that period of time also set forth on the Certificate (the
     "Option Period") and, subject to the provisions of this Agreement, the
     Option shall be exercisable at such times and as to such number of shares
     as determined on the schedule set forth on the Certificate.

3.   METHOD OF EXERCISE. The Option may be exercised by written notice to the
     Corporation (the "Exercise Notice") at its offices at 6101 Gateway Drive,
     Cypress, California 90630 to the attention of the Secretary of the
     Corporation. The Exercise Notice shall state (a) the election to exercise
     the Option, (b) the total number of full shares in respect to which it is
     being exercised, and (c) shall be signed by the person or persons
     exercising the Option. The Exercise Notice shall be accompanied by the
     Certificate and a certified or cashier's check for the full amount of the
     purchase price of such shares plus an amount necessary to satisfy
     Optionee's obligations pursuant to Section 11, or as may be permitted by
     the Committee, by certificates for shares of Stock which have been owned by
     the Optionee for more than six months prior to the date of exercise and
     which have a fair market value of the date of exercise equal to the
     purchase price, or by a combination of such methods of payment. Upon
     receipt of the foregoing, the Corporation shall issue the shares of Stock
     as to which the Option has been duly exercised and shall return the
     Certificate, duly endorsed to reflect such exercise, to the Optionee. In a
     cashless exercise, as permitted under Federal Reserve Board's Regulation T,
     subject to applicable securities law restrictions, Optionee must notify the
     Corporation as to the manner of the transaction.

4.   OPTIONEE'S COVENANTS AND REPRESENTATIONS.

     (a)  Optionee represents and warrants that any and all shares acquired
          through the exercise of rights under the Option granted pursuant to
          this Agreement will be acquired for Optionee's own account and not
          with a view to, or present intention of, distribution thereof in
          violation of the Securities Act of 1933, as amended and the rules and
          regulations promulgated thereunder (the "1933 Act") and will not be
          disposed of in contravention of the 1933 Act.

     (b)  Optionee acknowledges that Optionee is able to bear the economic risk
          of the investment in any and all shares of Stock acquired through the
          exercise of rights under the Option for an indefinite period of time
          because the Stock has not been registered under the 1933 Act and,
          therefore, cannot be sold unless subsequently registered under the
          1933 Act or an exemption from such registration is available.

<PAGE>

     (c)  Optionee has reviewed this Agreement and has had an opportunity to ask
          questions and receive answers concerning the terms and conditions of
          the offering of Stock and has had full access to such other
          information concerning the Corporation as Optionee has requested.

     (d)  Optionee agrees that if Optionee should dispose of any Shares acquired
          upon the exercise of an Incentive Stock Option, including a
          disposition by sale, exchange, gift or transfer of legal title within
          two (2) years after the date such Option was granted to the Optionee
          or within one (1) year after the transfer of such Shares to the
          Optionee upon the exercise of such Option, the Optionee shall notify
          the Company within three (3) days after such disposition.

5.   RESTRICTION ON EXERCISE. This Option may not be exercised if the issuance
     of such shares upon such exercise or the method of payment of consideration
     for such shares would constitute a violation of any applicable federal or
     state securities or other law or regulation. As a condition to the exercise
     of this Option, the Corporation may require Optionee to make any
     representation and warranty to the Corporation as may be required by any
     applicable law or regulation. All exercises of the Option must be for full
     shares of Stock only.

6.   EFFECT OF TERMINATION OF EMPLOYMENT. Except as set forth in Sections 7 and
     8 below and subject to the limitations set forth in Section 9(b), in the
     event that Optionee's employment with the Corporation ceases for any
     reason, Optionee may (or Optionee's estate or representative, in the event
     of Optionee's death during the applicable exercise period as set forth in
     Section 8), during the earlier of (a) the ninety (90) day period following
     such cessation of employment or (b) the remaining term of the Option
     Period, exercise the Option to the extent such Option was exercisable on
     the date such employment ceased and, on such date, that portion of the
     Option which was not exercisable shall automatically terminate without
     further action by the parties hereto and, in all events, to the extent not
     exercised, the Option shall terminate in its entirety at the end of
     business on the last day of the applicable exercise period as set forth in
     this Section 6; provided, however, the Committee, in its sole discretion,
     may approve the full vesting to Optionee (or Optionee's estate or
     representative, in the event of Optionee's death) in the Option and, in
     such event, to the extent not previously exercised, the Option shall be
     exercisable in whole or in part with respect to all remaining shares of
     Stock covered the Option and may be exercised by Optionee (or Optionee's
     estate or representative, in the event of Optionee's death) at any time
     prior to the expiration of the original Option Period.

7.   EFFECT OF TERMINATION OF EMPLOYMENT WITHOUT CAUSE OR DUE TO CONSTRUCTIVE
     TERMINATION.

     (a)  In the event that Optionee's employment with the Corporation is
          terminated by the Corporation without "Cause" (as such term is defined
          in Section 7(b) below) or in the event of "Constructive Termination"
          (as such term is defined in Section 7(c) below), Optionee shall become
          immediately fully vested in the Option without further action by the
          parties hereto, and, to the extent not previously exercised, shall be
          exercisable in whole or in part with respect to all remaining shares
          of Stock covered by the Option and may be exercised by Optionee (or
          Optionee's estate or representative, in the event of Optionee's death)
          at any time prior to the expiration of the original Option Period,
          subject to the limitations set forth in Section 9(b).

     (b)  For purposes of this Agreement, "Cause" shall mean (i) the willful and
          continued failure by Optionee to substantially perform Optionee's
          duties with the Corporation (other than a failure resulting from
          Optionee's death or "Total Disability" (as such term is defined in
          Section 7(e) below)) after a demand for substantial performance is
          delivered to Optionee by the Corporation which specifically identifies
          the manner in which it is believed that Optionee has not substantially
          performed Optionee's duties; (ii) the willful engaging by Optionee in
          gross misconduct materially and demonstrably injurious to the property
          or business of the Corporation; or (iii) Optionee's commission of
          fraud, misappropriation or a felony. For purposes of this definition
          of "Cause", no act or failure to act on Optionee's part will be
          considered "willful" unless done, or omitted to be done, by Optionee
          not in good faith and without a reasonable belief that Optionee's
          action or omission was in the interests of the Corporation or not
          opposed to the best interests of the Corporation.

                                       2
<PAGE>

     (c)  For purposes of this Agreement, "Constructive Termination" shall occur
          on that date on which Optionee resigns from employment with the
          Corporation, if such resignation occurs within eighteen (18) months
          after the occurrence of (i) the failure of Optionee to be elected or
          re-elected or appointed or reappointed to such office that Optionee
          holds (other than as a result of a termination for "Cause") if
          Optionee is an officer of the Corporation and the office which
          Optionee holds is one to which Optionee is elected according to the
          Corporation's By-laws; (ii) a change in Optionee's functions, duties,
          or responsibilities such that Optionee's position with the Corporation
          becomes substantially less in responsibility, importance, or scope; or
          (iii) a "Change in Control" (as such term is defined in Section 7(d)
          below).

     (d)  For purposes of this Agreement, a "Change in Control" shall be deemed
          to occur when (i) any "person" or "group" (as such terms are used in
          Sections 3(a), 13(d) and 14(d) of the Securities Exchange Act of 1934,
          as amended, and the rules and regulations promulgated thereunder (the
          "1934 Act")), other than (1) a trustee or other fiduciary holding
          securities under any employee benefit plan of the Corporation or (2) a
          corporation owned directly or indirectly by the stockholders of the
          Corporation in substantially the same proportions as their ownership
          of Stock in the Corporation immediately prior to any such occurrence,
          is or becomes the "beneficial owner" (as defined in Rule 13d-3 under
          the 1934 Act), directly or indirectly, of securities of the
          Corporation representing 20% or more of the total voting power of the
          then outstanding securities of the Corporation entitled to vote
          generally in the election of directors (the "Voting Stock"); (ii)
          individuals who are members of the Board on the date of this Agreement
          and any individual who becomes a member of the Board hereafter whose
          nomination for election as a director was approved by the affirmative
          vote of a majority of such directors (including any non-director added
          pursuant to this clause), cease to constitute a majority of the
          members of the Board; (iii) there occurs a merger or consolidation of
          the Corporation with any other corporation or entity, other than a
          merger or consolidation which would result in the Voting Stock of the
          Corporation outstanding immediately prior thereto continuing to
          represent (either by remaining outstanding or by being converted into
          voting securities of the surviving entity) at least 80% of the total
          voting power represented by the Voting Stock or the voting securities
          of such surviving entity outstanding immediately after such merger or
          consolidation; (iv) there occurs a sale or transfer or disposition of
          all or substantially all of the Corporation's assets to any other
          corporation or entity, other than a corporation owned directly or
          indirectly by the stockholders of the Corporation in substantially the
          same proportions as their ownership of Stock in the Corporation
          immediately prior to such sale, transfer or disposition; or (v) the
          dissolution or liquidation of the Corporation.

     (e)  For purposes of this Agreement, "Total Disability" shall mean an event
          of illness or other incapacity of Optionee resulting in Optionee's
          failure or inability to discharge Optionee's duties as an employee of
          the Corporation for ninety (90) or more days during any period of 120
          consecutive days.

8.   EFFECT OF TERMINATION OF EMPLOYMENT DUE TO DEATH OR TOTAL DISABILITY. In
     the event that Optionee's employment with the Corporation ceases or is
     terminated due to Optionee's death or Total Disability, Optionee (or
     Optionee's estate or representative, in the event of Optionee's death) may,
     subject to the limitations set forth in Section 9(b), during the earlier of
     (a) the one (1) year period following such cessation or termination of
     employment or (b) the remaining term of the Option Period, exercise the
     Option to the extent such Option was exercisable on the date such
     employment ceased or was terminated and, on such date, that portion of the
     Option which was not exercisable shall automatically terminate without
     further action by the parties hereto and, in all events, to the extent not
     exercised, the Option shall terminate in its entirety at the end of
     business on the last day of the applicable exercise period as set forth in
     this Section 8; provided, however, the Committee, in its sole discretion,
     may approve the full vesting to Optionee (or Optionee's estate or
     representative, in the event of Optionee's death) in the Option and, in
     such event, to the extent not previously exercised, the Option shall be
     exercisable in whole or in part with respect to all remaining shares of
     Stock covered the Option and may be exercised by Optionee (or Optionee's
     estate or representative, in the event of Optionee's death) at any time
     prior to the expiration of the original Option Period.

                                       3
<PAGE>

9.   LIMITATIONS ON EXERCISE OF INCENTIVE STOCK OPTION.

     (a)  Notwithstanding the foregoing, any Incentive Stock Option granted
          pursuant to this Agreement will be exercisable only to the extent that
          the aggregate fair market value of the Stock with respect to which the
          option first becomes exercisable during any calendar year would not
          exceed $100,000 (the "$100,000 Exercise Limitation"). In determining
          whether the $100,000 Exercise Limitation would be exceeded, all
          Incentive Stock Options granted to the Optionee that first become
          exercisable in that year will be included in the calculation, whether
          granted under the Plan or under any other option plan of the
          Corporation. If the $100,000 Exercise Limitation would be exceeded
          with respect to any Incentive Stock Option grant, the maximum whole
          number of underlying shares with an aggregate fair market value not in
          excess of $100,000 shall be treated as issued pursuant to an Incentive
          Stock Option and the remaining shares shall be treated as issued
          pursuant to a Non-qualified Stock Option. Finally, if the Option
          ceases to qualify as an Incentive Stock Option, as a result of the
          failure of the Optionee to exercise the Option within the three (3)
          month period specified in Section 9(b) below, the $100,000 Exercise
          Limitation shall not apply.

     (b)  In the case of an Incentive Stock Option, the Option must be exercised
          in full within three (3) months after cessation of employment, or such
          Option will no longer qualify as an Incentive Stock Option and shall
          thereafter be, and receive the tax treatment applicable to, a
          Non-qualified Stock Option.

10.  RIGHT OF A STOCKHOLDER. Optionee shall not have any rights as a stockholder
     with respect to any shares of Stock underlying a Stock Option, unless and
     until all the conditions set forth in Section 5(a) (iii) have been
     satisfied.

11.  WITHHOLDING OF TAXES. Whenever the Corporation is required to issue shares
     of Stock upon exercise hereunder, the Corporation shall have the right to
     require the recipient to remit in cash to the Corporation an amount
     sufficient to satisfy any federal, state and/or local withholding tax
     requirements prior to the delivery of any certificate or certificates for
     such shares of Stock.

12.  ADJUSTMENTS. In the event of any change in the outstanding shares of Stock
     of the Corporation by reason of a stock dividend or distribution,
     recapitalization, spin-off, merger, consolidation, split-up, combination,
     exchange of shares or the like, the Committee shall adjust the number of
     shares of Stock which may be issued under the Plan and shall provide for an
     equitable adjustment of the exercise price of and the number of shares of
     Stock issuable pursuant to each outstanding Option under the Plan.

13.  COMPLIANCE WITH CERTAIN LAWS AND REGULATIONS. If the Committee shall
     determine, in its sole discretion, that the listing, registration or
     qualification of the shares subject to the Option upon any securities
     exchange or under any law or regulation, or that the consent or approval of
     any governmental regulatory body is necessary or desirable in connection
     with the granting of the Option or the acquisition of shares thereunder,
     the Optionee shall supply the Committee or the Corporation, as the case may
     be, with such certificates, representations and information as the
     Committee or the Corporation, as the case may be, may request and shall
     otherwise cooperate with the Corporation in obtaining any such listing,
     registration, qualification, consent or approval.

14.  TRANSFERABILITY OF OPTION. The Option is not transferable by the Optionee
     otherwise than by will or by the laws of descent and distribution and is
     exercisable, during the Optionee's lifetime, only by the Optionee, or in
     the case of Optionee's legal incompetency, only by Optionee's guardian or
     legal representative.

15.  ADDITIONAL RESTRICTIONS ON TRANSFER. The certificates representing the
     Stock purchased upon the exercise of the Option will bear the following
     legend until such shares of Stock have been registered under an effective
     registration statement under the 1933 Act:

     The securities represented by this certificate were originally issued on
     _____________________, _____, have not been registered under the Securities
     Act of 1933, as amended, or under the securities

                                       4
<PAGE>

     laws of any state or other jurisdiction (together, the "Securities Laws")
     and may not be offered for sale, sold or otherwise transferred or
     encumbered in the absence of compliance with such Securities Laws and until
     the issuer hereof shall have received from counsel acceptable to issuer a
     written opinion reasonably satisfactory to issuer that the proposed
     transaction will not violate any applicable Securities Laws.

16.  NOTICES. Any notice or demand provided for in this Agreement must be in
     writing and must be either personally delivered, delivered by overnight
     courier, or mailed by first class mail, to the Optionee at Optionee's most
     recent address on file in the records of the Corporation, and to the
     Corporation at the address set forth or established pursuant to Section 3
     or to such other address or to the attention of such other person as the
     recipient party shall have specified by prior written notice to the sending
     party. Any notice or demand under this Agreement will be deemed to have
     been given when received.

17.  SEVERABILITY. This Agreement and each provision hereof shall be valid and
     enforced to the fullest extent permitted by law. The invalidity or
     unenforceability of any provision of this Agreement shall not affect the
     validity or enforceability of any other provision. Without limiting the
     generality of the foregoing, if the scope of any provision contained in
     this Agreement is too broad to permit enforcement to its fullest extent,
     such provision shall be enforced to the maximum extent permitted by law,
     and the parties hereby agree that such scope may be judicially modified
     accordingly.

18.  COMPLETE AGREEMENT. This Agreement and those documents expressly referred
     to herein embody the complete agreement and understanding among the parties
     and supersede and preempt any prior understandings, agreements or
     representations by or among the parties, written or oral, which may have
     related to the subject matter hereof in any way.

19.  COUNTERPARTS. This Agreement may be executed in separate counterparts, each
     of which shall be deemed an original and all of which taken together shall
     constitute one and the same agreement.

20.  SUCCESSORS AND ASSIGNS. This Agreement is intended to bind and inure to the
     benefit of and be enforceable by Optionee, the Corporation and their
     respective permitted successors and assigns (including personal
     representatives, heirs and legatees), and is intended to bind all
     successors and assigns of the respective parties, except that Optionee may
     not assign any of Optionee's rights or obligations under this Agreement
     except to the extent and in the manner expressly permitted hereby.

21.  REMEDIES. Each of the parties to this Agreement will be entitled to enforce
     its rights under this Agreement specifically, to recover damages by reason
     of any breach of any provision of this Agreement and to exercise all other
     rights existing in its favor. The parties hereto agree and acknowledge that
     money damages may not be an adequate remedy for any breach of the
     provisions of this Agreement and that any party may, in its sole
     discretion, apply to any court of law or equity of competent jurisdiction
     for specific performance and/or injunctive relief in order to enforce or
     prevent any violations of the provisions of this Agreement, without the
     necessity of posting bond or any other security.

22.  WAIVER OR MODIFICATION. Any waiver or modification of any of the provisions
     of this Agreement shall not be valid unless made in writing and signed by
     the parties hereto. A waiver by either party of any breach of this
     Agreement shall not operate as a waiver of any subsequent breach.

                            [SIGNATURE PAGE FOLLOWS]

                                       5
<PAGE>

IN WITNESS WHEREOF, the parties have executed this Agreement effective on the
____ day of ______________, _____.

OPTIONEE                                    UNIVERSAL ELECTRONICS INC.

________________________________            By: _______________________________
Signature                                       Chairman and Chief Executive
                                                Officer

________________________________
Print Name

                                       6
<PAGE>

Certificate Number:  ____

                           UNIVERSAL ELECTRONICS INC.
                            2002 STOCK INCENTIVE PLAN
                            STOCK OPTION CERTIFICATE

THIS CERTIFIES THAT ____________has been awarded an OPTION to purchase
__________ (_____) shares of common stock, par value $0.01 per share (the
"Stock"), of UNIVERSAL ELECTRONICS INC. This Certificate is issued in accordance
with and is subject to the terms and conditions of the related Stock Option
Agreement of even date herewith (the "Agreement"). The number of shares of Stock
subject to an Incentive Stock Option, the number of shares of Stock subject to a
Non-qualified Stock Option, and the respective Option prices are as set forth
below:

(a)  ____________________ (_____) shares of Stock shall be subject to an
Incentive Stock Option at an Option price of $_____ per share; and

(b)  ____________________ (_____) shares of Stock shall be subject to a
Non-qualified Stock Option at an Option price of $_____ per share.

THIS OPTION is not transferable except in accordance with the terms and
conditions of the Agreement.

THIS OPTION shall expire ten (10) years from the date of this Certificate.

THIS OPTION shall be exercisable as to all or a portion of the number of shares
set forth above as follows:

<TABLE>
<CAPTION>
                                   Incentive Stock Option              Non-qualified Stock Option
On and After the Following         Maximum Percentage Taking Into      Maximum Percentage Taking
Dates, But Prior to Expiration     Account Prior Exercises             Into Account Prior Exercises
------------------------------     ------------------------------      ----------------------------
<S>                                <C>                                  <C>
                                              25%                                25%

                                              50%                                50%

                                              75%                                75%

                                             100%                               100%
</TABLE>

IN WITNESS WHEREOF, UNIVERSAL ELECTRONICS INC. has caused this Stock Option
Certificate to be signed by its duly authorized officer the ____ day of ______,
____.

UNIVERSAL ELECTRONICS INC.

By: _____________________________________
Its: Chairman and Chief Executive Officer

                                       7

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