Document:

<PAGE>

                                                    GE CAPITAL

                             Capital Funding, Inc.
                             General Electric Capital Corporation
                             401 Merritt Seven, Second Floor, Norwalk, CT 06856
                             201 329 1000 Fax 203-229-1985

January 2, 2002

Ms. Vivian Liu
Vice President, Corporate Affairs
NexMed, Inc.
350 Corporate Boulevard
Robbinsville, NJ 08691

Dear Ms. Liu:

GE Capital Corporation ("GECC") is pleased to submit the following lease line
renewal for your consideration. This renewal replaces and supersedes the lease
proposal that was executed on February 8, 2001.

LESSEE:                    NexMed, Inc.
------

LESSOR:                    GE Capital or one of its wholly-owned subsidiaries.
------

EQUIPMENT:                 New laboratory, manufacturing and packaging
---------                  Equipment and new furniture (85.0%), new computer
                           hardware (10.0%) and software (5.0%) for the
                           internal use of the Lessee.

                           All final Equipment must be acceptable to Lessor.

EQUIPMENT LOCATION:        All within the continental United States.
------------------         Anticipated sites are (i) Lessee's headquarters at
                           the above address and (ii) at Lessee's new
                           manufacturing facility in East Windsor, NJ.

EQUIPMENT COST:            $3,000,000.00 lease line of credit.
--------------

DELIVERY ASSUMPTIONS:      October 2001 through December 31, 2002.
--------------------

LEASE TERM:                Each Schedule shall have a fixed term of 42 months.
----------

BASIC TERM
COMMENCEMENT DATES:        Lessee shall make its first rental payment(s) in
------------------         advance. Such advance rental payment(s) shall be
                           due upon execution of documents.

RENTAL PAYMENT RATE:       2.7868% of the Equipment Cost per month for 42
-------------------        months.

<PAGE>

LEASE EXPIRATION
PURCHASE OPTION:           $1.00
---------------

This proposal is based upon the following additional terms and conditions:

PURCHASE OF EQUIPMENT:     Lessee would submit its order for the equipment to
---------------------      the vendor. Lessor would take an assignment of
                           Lessee's purchase order. Such assignment would be
                           conditioned upon the leasing of the Equipment by
                           Lessee from Lessor. Lessee understands that any
                           Equipment delivered after the Last Delivery Date
                           would not be covered by this proposal.

NET LEASE:                 The proposed lease would be a net lease. Without
---------                  limiting the generality of the foregoing, Lessee
                           would be responsible for all expenses, maintenance,
                           insurance and taxes relating to the purchase, lease,
                           possession and use of the Equipment.

INSURANCE:                 Lessee would bear all risk of loss or damage to the
---------                  Equipment. Lessee would be responsible to keep the
                           Equipment insured with companies acceptable to
                           Lessor and for such amounts required by Lessor,
                           including, but not limited to, insurance for
                           damage to or loss of the Equipment and liability
                           coverage. All such insurance policies must be
                           satisfactory to Lessor.

WARRANTIES:                Lessor would lease the Equipment to Lessee on an
----------                 AS IS BASIS. However, Lessor would assign to
                           Lessee all warranties, guarantees and services
                           provided by the manufacturer or vendor (to the
                           extent that they are assignable).

DOCUMENTATION AND
TRANSACTIONAL COSTS:       Standard GECC Master Lease and Lease Schedule for
-------------------        this type of equipment would be utilized. Any changes
                           to the document must be approved by GECC legal
                           counsel. A fee of $4,500.00 shall be charged for the
                           line renewal and the first lease schedule advanced
                           hereunder. Subsequent lease schedules will carry a
                           fee of $250.00 per lease schedule for
                           documentation, overnight mail and search and filing
                           charges. Lessee will be responsible for all costs
                           it incurs with respect to the transaction.

RATE INDEX:                The above Rental Factor assumes an average three (3)-
----------                 year Treasury Note yield of 3.77%. The Rental
                           Factor will be adjusted accordingly for any
                           difference in the average three-(3) year Treasury
                           Note yield, as applicable.

<PAGE>

RENEWAL FEE:               The above renewal fee shall be returned to the
-----------                Lessee in the event that GECC does not renew the
                           transaction. If this transaction is not fully
                           closed, then GECC shall retain the fee as
                           liquidated damages.

This letter is an expression by GECC of its interest in considering a lease
transaction on the general terms and conditions outlined above. Except for the
provisions concerning the Renewal Fee (set forth above), this letter is not
intended to and does not create any binding legal obligation on the part of
either party. THIS LETTER IS NOT, AND IS NOT TO BE CONSTRUED AS, A COMMITMENT BY
GECC OR ANY OF ITS SUBSIDIARIES TO ENTER INTO THE PROPOSED LEASE TRANSACTION.
Neither GECC nor its subsidiary will be obligated to provide any financing until
the satisfactory completion of its investment review and analysis and a field
audit, the receipt of all requisite approvals by GECC management, and the prior
execution and delivery of final legal documentation acceptable to all parties
and their counsel. Please acknowledge your consent to the terms outlined above
by signing a copy of this letter and returning it with your check for the
Renewal Fee before January 11, 2002.

Sincerely,                            ACCEPTED:   NexMed, Inc.

/s/ William B. Stickle                By: /s/ Vivian Liu
William B. Stickle                    Title: Vice President
Vice President-Sales                  Date: 1/11/02
                                      Federal Tax ID No. 87-0449967<PAGE>

EXHIBIT 10.1(C)

                                 i3 MOBILE, INC.
                                181 HARBOR DRIVE
                               STAMFORD, CT 06901

August 23, 2001

Mr. Stephen G. Maloney
1766 Shippan Avenue
Stamford, Connecticut 06902

Dear Steve:

         This letter confirms the agreement between you and i3 Mobile, Inc. (the
"Company") regarding your separation from the Company and the benefits package
that is being offered to you in effort to ensure an amicable and smooth process.

1. Your employment with the Company will terminate effective August 31, 2001
(the "Termination Date") notwithstanding your resignation as Chairman and Chief
Strategist of the Company which was proffered by you, and accepted by the
Company, on July 24, 2001.

2. The Company shall continue to pay you your base salary (less standard
withholding and deductions) through the Termination Date. On the Termination
Date, the Company will pay you for all accrued and unused vacation days and
reimbursable expenses incurred through such date. The Company shall also pay you
as severance the sum of $549,130, less any required tax withholdings or other
deductions, in two installments, $249,130 which shall be paid on the Termination
Date and $300,000 which shall be paid on January 2, 2002.

3. The Company previously granted to you options to purchase 25,000 shares of
the Company's common stock under its 1995 Stock Incentive Plan, all of which
shall accelerate and become immediately exercisable as of the date of this
letter. The Company also granted to you options to purchase 150,000 shares of
the Company's common stock under its 2000 Stock Incentive Plan, of which the
first 50,000 options shall accelerate and become immediately exercisable. The
remaining 100,000 options shall be surrendered by you and cancelled by the
Company effective immediately. All vested options shall be exercisable by you
until the close of business on August 31, 2002.

4. The Company will continue your current medical, disability and life insurance
benefit coverage on the same terms as you currently have through August 31,
2002, at no cost to you. After such date, you will be permitted to continue, at
your own expense, any group health insurance coverage for a limited period of
time in accordance with COBRA. Additional information about this option will be
provided to you under separate cover. You will not be entitled to participate in
any pension plan, profit sharing plan or stock purchase plan after August 31,
2002. Notwithstanding the foregoing, as a director of the Company, you will be
entitled to participate in any benefit plan or arrangement now available or made
available in the future by the Company to its non-employee directors.

<PAGE>

5. You are entitled to keep any mobile telephone and PDAs provided to you in the
course of your employment with the Company, and all costs related thereto after
the Termination Date shall be borne by you. In addition, you may retain the
desk, chair, credenza, and computer equipment form your current office and the
Company will assist you in transporting such items to a location within
Stamford, Connecticut area. You agree that you will vacate your current office
as soon as practicable, but in no event later than the Termination Date. Except
as set forth above, you agree to return to the Company any and all property of
the Company, including any files and any documents prepared for or by the
Company.

6. Except as provided in paragraphs 2 through 5, you shall not be entitled to
any other or further compensation, remuneration, reimbursement, benefits or
other payments from the Company; provided, however, that nothing in this letter
shall divest or otherwise affect any entitlement to any pension or retirement
benefit which already may have vested.

7. The Company will maintain your email address and voicemail service and will
provide your with limited secretarial support until such tome that you establish
another office, but in no event longer than six months form the Termination
Date.

8. You agree to use good faith and reasonable efforts to assist the Company with
any matters which may arise by virtue of your separation from the Company,
including but not limited to working with the incoming Chairman of the Board of
Directors in connection with his transition into such position.

9. Any internal or external announcement regarding your separation from the
Company will consist of language mutually acceptable to you and the Company.
Neither you nor the Company will make any statements of an adverse, disparaging
or derogatory nature concerning the other.

10. You acknowledge that you are obligated to comply with Section 8 (regarding
inventions and copyrights), Section 9 (regarding confidential information) and
Section 10 (regarding competition) of your Employment Agreement dated as of
January 1, 2001 with the Company (the "Employment Agreement") after your
employment terminates, in accordance with the terms thereof.

11. In keeping with our intent to allow for an amicable separation, and as part
of our accord, it is agreed that you hereby release the Company of and from any
and all claims, agreements, liability, damages and causes of action of whatever
nature arising out of or related to your employment, including the termination
of your employment. By this paragraph, your are waiving any claims which may
exist against the Company and its directors, officers, employees, agents and all
other related or affiliated persons or entities. This general release includes,
but is not limited to, a waiver of all rights and obligations under all federal,
state and local laws pertaining to employment, including the Family and Medical
Leave Act, the Americans With Disabilities Act, Title VII of the Civil Rights
Act of 1964, the Age Discrimination In Employment Act and all other employment
discrimination laws.

         The Company likewise releases your from any and all claims and causes
of action, demands, obligation, agreement, promises, liabilities, damages and
causes of action of whatever nature arising out of your employment with the
Company.

         Nothing in this paragraph 11 will affect the ability of either you or
the Company to enforce rights or entitlements specifically provided for under
this letter.

         12. All disputes hereunder or under the Employment Agreement shall be
resolved by binding, enforceable and non-appealable arbitration in the City of
New York under the rules of the American Arbitration Association.

         13. This letter constitutes the entire understanding between you and
the Company relating to the subject matter hereof, superseding all negotiations,
prior discussions, preliminary agreements and agreements relating to the subject
matter hereof prior to the date hereof. No changes to this letter will be valid
unless in writing and signed by both your and the Company.

<PAGE>

         I thank you for your many years of service in building the Company, and
I wish you the best in your future endeavors.

                                            Very truly yours,

                                            /s/ John A. Lack
                                            ------------------------------
                                            John A. Lack

AGREED AND ACCEPTED:

/S/STEPHEN G. MALONEY
---------------------
Stephen G. Maloney
Date: August 27, 2001

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}]]