Document:

Exhibit 10.1

                              EMPLOYMENT AGREEMENT
                              --------------------

     AGREEMENT,  dated as of September 7, 2000,  between JEFFREY PARKER,  with a
business address of P.O. Box 56346,  Jacksonville,  Florida 32256 ("Executive"),
and  PARKERVISION,  INC., a Florida  corporation  having its principal office at
8493 Baymeadows Way, Jacksonville, Florida 32256 ("Company").

     WHEREAS, the Company and Executive had entered into an employment agreement
on July 1, 1993 which expired on December 31, 1996; and

     WHEREAS, Executive has continued to provide his services since December 31,
1996 without the benefit of a written employment agreement; and

     WHEREAS,  the Company  believes that Executive  provides unique  management
services  for the  Company  and  wishes  to retain  the  continued  services  of
Executive as its Chairman and Chief Executive Officer; and

     WHEREAS,  the Company and  Executive  have  reached an  understanding  with
respect to the extension of Executive's  employment  with the Company for a five
(5) year period commencing as of October 1, 2000; and

     WHEREAS,  the Company and Executive  desire to evidence their  agreement in
writing and to provide for the  employment  of  Executive  by the Company on the
terms set forth herein.

     IT IS AGREED:

     1.   Employment, Duties and Acceptance.
          ---------------------------------

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          1.1  Effective  as of October  1, 2000  ("Renewal  Date") the  Company
hereby  agrees to the  continued  employment of Executive as its Chairman of the
Board and Chief  Executive  Officer and Executive  hereby accepts such continued
employment on the terms and conditions  contained in the  Agreement.  During the
term of this  Agreement,  the  Executive  shall make  himself  available  to the
Company to pursue the  business of the Company  subject to the  supervision  and
direction  of the  Board of  Directors  of the  Company  ("Board"  or  "Board of
Directors")  of  which  he shall be  nominated  to be a member  during  the term
hereof.

          1.2 The Board may assign the  Executive  such general  management  and
supervisory  responsibilities  and  executive  duties  for  the  Company  as are
appropriate and  commensurate  with  Executive's  position as Chairman and Chief
Executive  Officer of the Company  ("CEO") and would  otherwise be consistent in
stature and prestige with the  responsibilities  of a CEO. The  Executive  shall
serve as Chairman of the  Executive  Committee of the Board (if such a committee
is established) and all other officers of the Company shall report to him and be
subject to his supervision and control.

          1.3   Executive   accepts  such   employment   and  agrees  to  devote
substantially  all  of  his  business  time,   energies  and  attention  to  the
performance of his duties; provided,  however, that Executive may continue to be
actively  involved in  eleemosynary,  educational  and civic  activities  to the
extent  that such  activities  do not  materially  detract  from the  reasonable
performance  of his  duties  (such  material  detraction  to be  evidenced  by a
resolution  approved  by the  majority  of the  Board  and a  written  notice to
Executive, in which event Executive shall have one hundred and twenty (120) days
to reduce the level of such  activities  in a  reasonable  manner).  The Company
recognizes  the  value  to it of  Executive's  continued  involvement  in  these
activities and will reimburse  Executive for reasonable expenses incurred by him
in  connection  with such  activities.  Nothing  herein  shall be  construed  as
preventing  Executive from (i) making and supervising  investments on a personal
or family  basis  (including  trusts,  funds and  investment  entities  in which
Executive or members of his family have an interest)  and (ii) in serving on the
Board of Directors of not more than three corporations

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involved primarily in "for profit" business activities;  provided, however, that
these activities do not materially  interfere with the performance of his duties
hereunder or violate the provisions of Section 4.4 hereof.

     2.   Compensation and Benefits.
          -------------------------

          2.1 The Company shall pay to Executive a salary at an annual base rate
of not less than $275,000 for the first  two-year  period during the term hereof
(October 1, 2000 - September  30,  2002),  not less than  $300,000  for the next
two-year  period  during the term hereof  (October 1, 2002 - September 30, 2004)
and not less than  $325,000  for the fifth year of the term  hereof  (October 1,
2004 - September 30, 2005).  Executive's salary will be paid not less frequently
than every two weeks without the prior written consent of Executive. Executive's
annual base rate will be  reviewed at least one month prior to the  commencement
of each new salary  period  during the term hereof for  purposes of  determining
whether the minium increase is sufficient.

          2.2 The Company  shall also pay to  Executive  such  bonuses as may be
determined  from  time to time by the  Compensation  Committee  of the  Board of
Directors.  The  amount of annual  bonus  payable to  Executive  may vary at the
discretion  of  the  Compensation  Committee  of  the  Board  of  Directors.  In
determining  the  annual  bonus to be paid to the  Executive,  the  Compensation
Committee may, among other factors they believe to be appropriate, consider, and
give varying  degrees of  importance  to, the  Executive's  contribution  to the
following:

          (1)  growth in the Company's per share value;
          (2)  achievement  by  the  Company  of  specific   identified  targets
               selected by the Committee from time to time;
          (3)  the  attraction  and retention of key executive  personnel by the
               Company;
          (4)  satisfaction of the Company's capital requirements;
          (5)  the establishment of strategic  direction and significant Company
               goals; and
          (6)  Such other  criteria as the  Compensation  Committee  deems to be
               relevant.

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<PAGE>

          2.3 As  additional  compensation  for  Executive  entering  into  this
Agreement and agreeing to be bound by its terms (including Article 4 hereof) and
for the  services to be  rendered by  Executive  hereunder,  the Company  hereby
issues to Executive options to purchase 500,000 shares of Common Stock under the
Company's 2000  Performance  Equity Plan, which options shall vest in accordance
with this  section  except for certain  acceleration  events as set forth in the
Stock Option Agreements or this Agreement.  These options ("Agreement  Options")
shall be evidenced by one or more Stock Option  Agreements of even date herewith
between the Company and Executive. Three hundred fifty thousand (350,000) of the
Agreement  Options will have an exercise price of $41.00 per share and will vest
immediately.  One hundred and fifty thousand  (150,000) of the Agreement Options
will have an exercise  price of $61.50 per share and will vest 30,000 on each of
the first five  annual  anniversaries  of the  Renewal  Date.  The  Compensation
Committee may, in its discretion,  grant additional  options to Executive during
the term of this Agreement.

          2.4 Executive  shall be entitled to such  insurance and other benefits
including,  among others,  medical and disability coverage and life insurance as
are afforded to other senior  executives  of the Company,  subject to applicable
waiting  periods and other  conditions  which may be generally  applicable.  The
Company also shall purchase (i) long term disability  insurance of not less than
50% of  Executive's  then  current  annual  salary  and (ii) split  dollar  life
insurance with coverage of not less than $1.5 million.  The beneficiary of these
policies   shall  be  designated  by  Executive  and  these  policies  shall  be
transferred to Executive or his designees by the Company at his written request.

          2.5  Executive  shall be entitled to vacation time and to days off for
religious and personal  reasons in accordance with the Company's  policy for its
senior executives.

          2.6 Executive shall be entitled, at his option, to maintain a suitable
automobile for business use. The Company shall reimburse Executive for the costs
of leasing such  automobile and for all other costs  associated  with the use of
the vehicle, including insurance costs, repairs and maintenance.

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          2.7  The   Company   will   pay  or   reimburse   executive   for  all
transportation, hotel and other expenses incurred by Executive on business trips
(including  first class air travel if the scheduled  flight is more than two (2)
consecutive  hours)  and for all other  ordinary  and  reasonable  out-of-pocket
expenses  actually incurred by him in the conduct of the business of the Company
against itemized vouchers submitted with respect to any such expenses.

          2.8 Executive agrees that his services shall be rendered  primarily at
the Company's executive offices which shall be located in, or within thirty (30)
miles of, the  Company's  current  executive  offices  located in  Jacksonville,
Florida.  Notwithstanding  the  foregoing,  Executive  may  maintain  an  office
adjacent  to his  residence  and shall be  reimbursed  for all costs  reasonably
related thereto (including secretarial assistance,  telephone, fax, computer and
other communications equipment) by the Company.

          2.9  The  Company  shall  not  move  its  executive   offices  without
Executive's  written  consent.  If such  consent is  provided,  the Company will
reimburse Executive for the following, which may be taxable to Executive:

          (1) Usual and customary  expenses incurred if Executive sells his home
himself or through a broker; however,  reimbursement for the broker's commission
(if Executive  utilizes the services of a broker) may not exceed six (6) percent
of the sales proceeds;

          (2) Reasonable expenses incurred in moving furniture, normal household
goods and  personal  belongings  to the new  location  and  incidental  expenses
related to the move;

          (3)   Reasonable   expenses   (including   travel  and  hotel)   while
house-hunting,  including four trips to the new location with Executive's spouse
and children;

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          (4)  Reasonable  and  customary   closing  costs  incurred  in  buying
Executive's new home;

          (5)  Reasonable  temporary  living  expenses  incurred  while awaiting
occupancy in Executive's new quarters.

     3.   Term and Termination.
          --------------------

          3.1 The term of this  Agreement  commences  as of  October 1, 2000 and
shall  continue  until  September 30, 2005,  unless sooner  terminated as herein
provided.

          3.2 If  Executive  dies  during  the  term  of  this  Agreement,  this
Agreement  shall thereupon  terminate,  except that the Company shall pay to the
legal  representative  of  Executive's  estate  the base  salary  due  Executive
pursuant to Section  2.1 hereof  through the first  anniversary  of  Executive's
death (or the scheduled  expiration under Section 3.1, if earlier than the first
anniversary  date) as well as a pro rata  allocation  of  bonus  payments  under
Section  2.2 based on the days of  service  during  the year of  death,  and all
amounts owing to Executive at the time of termination,  including for previously
accrued  but unpaid  bonuses,  expense  reimbursements  and  accrued  but unused
vacation pay.

          3.3 If  Executive  shall be rendered  incapable  by an  incapacitating
illness or disability  (either  physical or mental) of complying with the terms,
provisions  and  conditions  hereof on his part to be performed  for a period in
excess of 180 consecutive days during any consecutive  twelve (12) month period,
then the Company,  at its option, may terminate this Agreement by written notice
to Executive (the  "Disability  Notice")  delivered  prior to the date Executive
resumes the rendering of services hereunder;  provided, however, if requested by
Executive (or a representative  thereof) such termination  shall not occur until
after examination of Executive by a medical doctor (retained by the Company with
the consent of the Executive which consent shall not be  unreasonably  withheld)
who  certifies  in a  written  report to the  Board  with a copy of such  report
delivered  simultaneously  to Executive that Executive is and shall be incapable
of performing his duties for in excess of two additional months because of the

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<PAGE>

continuing   existence   of   such   incapacitating   illness   or   disability.
Notwithstanding  such  termination,  the  Company  (a) shall  make a payment  to
Executive of a pro rata  allocation  of payments  under Section 2.2 based on the
days of service during the year in which the Disability  Notice is delivered and
(b) shall pay to Executive the base salary due Executive pursuant to Section 2.1
hereof  through  the  second  anniversary  of  the  date  of  such  notice  (the
"Disability  Period"),  less any amount Executive  receives for such period from
any  Company-sponsored  or  Company-paid  for  source of  insurance,  disability
compensation  or governmental  program.  The Company shall also pay to Executive
all  amounts  owing to  Executive  at the  time of  termination,  including  for
previously  accrued but unpaid bonuses,  expense  reimbursements and accrued but
unused  vacation pay. At the Executive's  request,  the Company shall provide to
Executive  at the  Company's  expense  an office  for his  exclusive  use at the
Company's  principal  executive offices with full time confidential  secretarial
assistance and office services during the Disability Period.

          3.4 The Company, by notice to Executive,  may terminate this Agreement
for cause. As used herein, "cause" shall include (a) the refusal in bad faith by
Executive to carry out specific written directions of the Board, (b) intentional
fraud or  dishonest  action  by  Executive  in his  relations  with the  Company
("dishonest"  for these purposes shall mean  Executive's  knowingly  making of a
material  misstatement to the Board for the purpose of obtaining direct personal
benefit);  or (c) the  conviction of Executive of any crime  involving an act of
significant  moral  turpitude  after appeal or the period for appeal has elapsed
without an appeal being filed by Executive.  Notwithstanding  the foregoing,  no
"cause" for  termination  shall be deemed to exist with  respect to  Executive's
acts  described  in clause (a) or (b) above,  unless the Board  shall have given
written  notice to  Executive  (after five (5) days  advance  written  notice to
Executive  and a reasonable  opportunity  to Executive to present his views with
respect to the existence of "cause"),  specifying the "cause" with particularity
and , within twenty (20) business  days after such notice,  Executive  shall not
have disputed the Board's determination or in reasonably good faith taken action
to cure or  eliminate  prospectively  the  problem or thing  giving rise to such
"cause," provided, however, that a repeated breach after notice and cure, of any
provision  of  clause  (a) or (b)  above,  involving  the same or  substantially
similar actions or conduct,  shall be grounds for termination for cause upon not
less than five (5) days additional

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<PAGE>

notice  from the  Company.  In the event of a  dispute  as to the  existence  of
suitable  "cause" for  termination  pursuant  Section  3.4,  Executive  shall be
entitled to file for arbitration of such dispute in accordance with the rules of
the American  Arbitration  Association with one arbitrator to be selected by the
Company and one  arbitrator to be selected by the  Executive,  and pending final
determination  of such arbitration  proceedings,  Executive shall continue to be
compensated  and shall be reimbursed for his expenses  including his legal costs
in accordance with the terms of this Agreement.

          3.5 The  Executive,  by  notice to the  Company,  may  terminate  this
Agreement  if a "Good  Reason"  exists.  For purposes of this  Agreement,  "Good
Reason" shall mean the occurrence of any of the following  circumstances without
the Executive's prior express written consent:  (a) a material adverse change in
the nature of Executive's  title,  duties or  responsibilities  with the Company
that  represents a demotion  from his title,  duties or  responsibilities  as in
effect immediately prior to such change; (b) a material breach of this Agreement
by the  Company;  (c) a failure by the Company to make any payment to  Executive
when due,  unless the  payment is not  material  and is being  contested  by the
Company,  in good faith;  (d) a liquidation,  bankruptcy or  receivership of the
Company;  or (e) if  Executive  is at any  time  not a  member  of the  Board of
Directors  of the Company and a member of the  Executive  Committee  thereof (if
such a committee exists),  unless he voluntarily  resigns therefrom;  or (f) any
person or entity other than the Company  and/or any officers or directors of the
Company as of the date of this  Agreement  acquires  securities  of the  Company
other than from Executive or his affiliates (in one or more transactions) having
35% or more of the  total  voting  power of all the  Company's  securities  then
outstanding.  Notwithstanding  the foregoing,  no Good Reason shall be deemed to
exist with respect to the  Company's  acts  described in clauses (a), (b) or (c)
above,  unless  Executive  shall  have  given  written  notice  to  the  Company
specifying the Good Reason with reasonable particularity and, within twenty (20)
business days after such notice,  the Company shall not have cured or eliminated
the problem or thing giving rise to such Good Reason; provided,  however, that a
repeated  breach after  notice and cure of any  provision of clauses (a), (b) or
(c) above involving the same or substantially similar actions or conduct,  shall
be grounds for  termination  for Good Reason without any additional  notice from
Executive.

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<PAGE>

          3.6 In the event that  Executive  terminates  this  Agreement for Good
Reason,  pursuant to the provisions of paragraph 3.5, or the Company  terminates
this Agreement  without  "Cause," as defined in paragraph 3.4, the Company shall
continue  to pay  to  Executive  (or  in  the  case  of  his  death,  the  legal
representative  of  Executive's  estate  or such  other  person  or  persons  as
Executive shall have designated by written notice to the Company), all payments,
compensation and benefits  required under paragraph 2 hereof through the earlier
of (y) three (3) years from the date of  termination  or (z) through the term of
this Agreement;  provided, however, that (i) a minimum bonus of no less than the
average of the two prior  year's  bonuses  (or the bonus paid for fiscal 2000 if
termination  occurs  prior to the bonus for 2001 being paid) shall be paid;  and
(ii) Executive's  insurance coverage shall terminate upon the Executive becoming
covered  under  a  similar  program  by  reason  of  employment  elsewhere.   If
Executive's  employment  is  terminated  for Good  Reason  or  without  "Cause,"
Executive  shall have no duty to mitigate awards paid or payable to him pursuant
to this  subsection,  and any  compensation  paid or payable to  Executive  from
sources  other than the  Company  will not  offset or  terminate  the  Company's
obligation to pay to Executive the full amounts pursuant to this subsection 3.6.

     4.   Non-Competition.
          ---------------

          4.1 During the period  commencing  October 1, 2000 and terminating one
year after termination of employment:  (A) Executive,  without the prior written
permission of the Company,  shall not, anywhere in the United States of America,
(i) enter into the  employ of or render  any  services  to any  person,  firm or
corporation  engaged in any business which is directly in  competition  with the
Company's  principal existing business at the time of termination  ("Competitive
Business");  (ii) engage in any Competitive Business as an individual,  partner,
shareholder,  creditor,  director,  officer, principal, agent, employee, trustee
consultant,  advisor or in any other relationship or capacity;  (iii) employ, or
have or cause any other person or entity to employ,  any person who was employed
by the  Company at the time of  termination  of  Executive's  employment  by the
Company  (other than  Executive's  personal  secretary and  assistant);  or (iv)
solicit, interfere with, or endeavor to entice away from the Company, for the

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<PAGE>

benefit of a Competitive  Business,  any of its customers.  Notwithstanding  the
foregoing,  Executive  shall not be precluded  from  investing  and managing the
investment of, his or his family's  assets in the securities of any  corporation
or other  business  entity  which is engaged in a  Competitive  Business if such
securities are traded on a national  stock  exchange or in the  over-the-counter
market and if such investment does not result in his beneficially owning, at any
time, more than 5% of any class of the publicly-traded equity securities of such
Competitive Business; provided, however, that for a period commencing October 1,
2000 and  terminating  one year  after  termination  of  Executive's  employment
(except for  investments  in a class of securities  trading on public  markets),
Executive shall refer to the Company for consideration  (before any other party)
any and all  opportunities  to acquire or purchase,  or otherwise make equity or
debt investments in, companies  primarily involved in a Competitive  Business if
such opportunities becomes known to Executive while he is the Chairman and Chief
Executive Officer of the Company.  If the Company  determines not to exploit any
opportunity  referred to in the foregoing sentence,  the Company shall determine
what, if anything, should be done with such opportunity.  Executive shall not be
entitled to any compensation, as a finder or otherwise, if either the Company or
Executive introduces such opportunity to other persons, it being understood that
all  such  compensation  shall  be  paid  to the  Company.  Notwithstanding  the
foregoing, in the event the Company terminates this Agreement without "cause" or
if Executive terminates this Agreement for Good Reason under Section 3.5 hereof,
Executive's  obligations  under  this  Section  4.4  shall  terminate  one month
following termination.

          4.2 If Executive  commits a breach of any of the provisions of Section
4.1, the Company shall have the right:

          (1) to have the provisions of this Agreement  specifically enforced by
any court  having  equity  jurisdiction,  it being  acknowledged  and  agreed by
Executive  that the services  being  rendered  hereunder to the Company are of a
special,  unique and  extraordinary  character and that any breach or threatened
breach will cause irreparable  injury to the Company and that money damages will
not provide an adequate remedy to the Company; and

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          (2) to require  Executive  to account  for and pay over to the Company
all monetary damages  determined by a non-appealable  decision by a court of law
to have been suffered by the Company as the result of any actions constituting a
breach of any of the  provisions of Section 4.1, and Executive  hereby agrees to
account  for and pay over such  damages to the Company (up to the maximum of all
payments made under the Agreement).

          4.3 If Executive shall violate any covenant  contained in Section 4.1,
the duration of such covenant so violated shall be automatically  extended for a
period of time equal to the period of such violation.

          4.4 If any  provision  of  Section  4.1 is  held  to be  unenforceable
because of the scope, duration or area of its applicability, the tribunal making
such determination shall not have the power to modify such scope,  duration,  or
area, or all of them and such provision or provisions shall be void ab initio.

     5.   Miscellaneous Provisions.
          ------------------------

          5.1 All notices  provided for in this  Agreement  shall be in writing,
and shall be deemed to have been duly given  when  delivered  personally  to the
party to receive the same, when transmitted by electronic  means, or when mailed
first class postage  prepared,  by certified  mail,  return  receipt  requested,
addressed  to the  party to  receive  the same at his or its  address  set forth
below,  or such  other  address  as the party to  receive  the same  shall  have
specified  by written  notice  given in the manner  provided for in this Section
5.1.  All notices  shall be deemed to have been given as of the date of personal
delivery, transmittal or mailing thereof.

          If to Executive:

               Jeffrey Parker
               P.O. Box 56346
               Jacksonville, Florida 32256

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<PAGE>

          If to the Company:

               ParkerVision, Inc.
               8493 Baymeadows Way
               Jacksonville, Florida 32256
               Attention: Chief Financial Officer

          5.2 In the  event  of any  claims,  litigation  or  other  proceedings
arising under this Agreement (including, among others, arbitration under Section
3.4),  the Executive  shall be reimbursed by the Company within thirty (30) days
after  delivery  to the  Company of  statements  for the costs  incurred  by the
Executive in connection  with the  analysis,  defense and  prosecution  thereof,
including  reasonable  attorneys'  fees and expenses;  provided,  however,  that
Executive  shall reimburse the Company for all such costs if it is determined by
a non-appealable  final decision of a court of law that the Executive shall have
acted in bad faith with the intent to cause  material  damage to the  Company in
connection with any such claim, litigation or proceeding.

          5.3  The  Company,  shall  to the  fullest  extent  permitted  by law,
indemnify  Executive  for any  liability,  damages,  losses,  costs and expenses
arising out of alleged or actual claims  (collectively,  "Claims")  made against
Executive  for any actions or  omissions  as an officer  and/or  director of the
Company or its subsidiary.  To the extent that the Company obtains  director and
officers  insurance  coverage for any period in which  Executive was an officer,
director or  consultant to the Company,  Executive  shall be a named insured and
shall be entitled to coverage thereunder.

          5.4  The  provision  of  Article  4,  Sections  5.2  and  5.3  and any
provisions   relating  to  payments  owed  to  Executive  after  termination  of
employment shall survive termination of this Agreement for any reason.

          5.5  This   Agreement  and  the  Stock  Option   Agreements   executed
simultaneously  herewith set forth the entire  agreement of the parties relating
to the employment

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of   Executive   and  are  intended  to   supersede   all  prior   negotiations,
understandings  and  agreements.  No provisions  of this  Agreement or the Stock
Option  Agreements  may be waived or  changed  except by a writing  by the party
against whom such waiver or change is sought to be enforced.  The failure of any
party to require  performance  of any  provision  hereof or thereof  shall in no
manner affect the right at a later time to enforce such provision.

          5.6 All questions with respect to the  construction of this Agreement,
and the rights and obligations of the parties hereunder,  shall be determined in
accordance  with the law of the State of Florida  applicable to agreements  made
and to be performed entirely in Florida.

          5.7 This  Agreement  shall inure to the benefit of and be binding upon
the  successors  and  assigns  of  the  Company.  This  Agreement  shall  not be
assignable by  Executive,  but shall inure to the benefit of and be binding upon
Executive's heirs and legal representatives.

          5.8  Should  any   provision   of  this   Agreement   become   legally
unenforceable,  no other provision of this Agreement shall be affected, and this
Agreement  shall  continue  as if the  Agreement  had been  executed  absent the
unenforceable provision.

          IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.

                                        /s/ Jeffrey Parker
                                        ------------------------------
                                        JEFFREY PARKER

                                        /s/ Richard Sisisky
                                        ------------------------------
                                        PARKERVISION, INC.

                                        By: Richard L. Sisisky
                                        President and Chief Operating Officer

                                       13
<PAGE>Exhibit 10.2

                             STOCK OPTION AGREEMENT

     AGREEMENT  dated as of  September 7, 2000 between  JEFFREY  PARKER,  with a
business address of P.O. Box 56346, Jacksonville,  Florida 32256 (the "Employee"
or "Grantee") and PARKERVISION, INC., a Florida corporation having its principal
office at 8493 Baymeadows Way, Jacksonville, Florida 32256 ("Company").

     WHEREAS,  on  September  7, 2000,  the Board of  Directors  of the  Company
authorized  the  terms  of  an  Employment   Agreement  with  Employee  executed
simultaneously herewith ("Employment Agreement"),  and the grant to the Employee
of an option to purchase an aggregate of 150,000 of the  authorized but unissued
shares of the Common Stock of the Company,  $.01 par value ("Common Stock"),  on
the terms and conditions  set forth in this  Agreement and the 2000  Performance
Equity Plan ("Plan");

     WHEREAS,  the  Employee  desires  to acquire  said  option on the terms and
conditions set forth in this Agreement; and

     WHEREAS,  capitalized  terms not  otherwise  defined in this  Agreement  or
referenced as being defined in the Employment Agreement, shall have the meanings
ascribed to them in the Plan

     IT IS AGREED:

     GRANT OF OPTION.  The Company  hereby  grants to the Employee the right and
option to  purchase  all or any part of an  aggregate  of 150,000  shares of the
Common Stock  ("Option") on the terms and conditions set forth herein and in the
Plan. The Option is a non-qualified  stock option, not intended to qualify under
any section of the Internal Revenue Code of 1986, as amended.

     EXERCISE PRICE. The exercise price of each share of Common Stock subject to
the Option ("Option Shares") shall be $61.50.

     VESTING AND EXERCISABILITY.

          Options  to  purchase  30,000  Option  Shares  shall  vest and  become
exercisable on October 1 of each of 2001,  2002,  2003,  2004 and 2005.  After a
portion  of  the  Option  vests  and  becomes   exercisable,   it  shall  remain
exercisable, except as otherwise provided herein, until the close of business on
October 1, 2010 (the "Exercise Period").

          If the Employee's  employment with the Company terminates by reason of
death,  Disability,  or due to Normal  Retirement,  the unvested  portion of the
Option shall  immediately  vest and become  exercisable.  The entire Option will
then remain exercisable until the expiration of the Exercise Period.

                                       1
<PAGE>

          If the Employee's employment is terminated without "Cause" (as defined
in  Section  3.4  of  the  Employment  Agreement)  or  Employee  terminates  his
employment  for "Good  Reason"  (as  defined  in Section  3.5 of the  Employment
Agreement),  then, only for purposes of determining  Employee's rights under the
Option,  Employee  shall be  considered  to be an  employee of the Company for a
period of three years after such  termination and the Options that would vest on
any October 1 in such three year  period  shall vest and become  exercisable  on
such  October 1 and,  in case such three year period  includes  any portion of a
calendar  year (a "Partial  Year") but does not include  October 1 of such year,
then one twelfth  (1/12) of the Options which would have vested on the October 1
following  such three year period shall vest and become  exercisable on the last
day of each  calendar  month during such three year period in such Partial Year.
Any portion of the Option which was fully vested and  exercisable at the time of
termination  or which  becomes  exercisable  pursuant to this  provision  may be
exercised  for a period  of five  years  from the  date of such  termination  of
employment or until the expiration of the Exercise Period, whichever is shorter.

          In the event of the  occurrence of a  Non-Approved  Transaction  or an
Approved  Transaction  as set forth in Section 10 of the Plan, the Employee will
have the right to require the Company to repurchase the Option from the Employee
at a price  equal to the  Repurchase  Value of the  Option in the event that the
Employee has been advised that he would (or  reasonably  could) be liable to the
Company under Section 16(b) of the  Securities  Exchange Act of 1934, as amended
(the "Exchange Act") if he were to exercise the Option and immediately  sell the
underlying  Option  Shares.  If  employee  elects  to  require  the  Company  to
repurchase  the  Option,  it will  give  written  notice to the  Company  of its
election  within ten days of the  consummation of the  transaction.  The Company
will pay the amount due to Employee by certified  check or wire transfer  within
five days of the receipt of the notice.

     RIGHTS AS A STOCKHOLDER. The Employee shall not have any of the rights of a
stockholder with respect to the Option Shares until such shares have been issued
after the due exercise of the Option.

     ADJUSTMENTS.  In the event of a stock split or  exchange,  stock  dividend,
combination  of shares,  or any other similar  change in the Common Stock of the
Company as a whole,  the Board of Directors of the Company shall make equitable,
proportionate adjustments in the number and kind of shares covered by the Option
and in the option price  thereunder,  in order to preserve the  Employee's  then
proportionate  interest  in the Company and to  maintain  the  aggregate  option
price.

     TRANSFERABILITY OF OPTION AND OPTION SHARES.

          The Employee hereby  represents and warrants to the Company that he is
acquiring the Option for his own account and not with a view to the distribution
thereof.

                                       2
<PAGE>

          The  Employee  hereby  agrees that he shall not sell,  transfer by any
means  or  otherwise  dispose  of the  Option  Shares  acquired  by him  without
registration  under the Securities  Act of 1933 ("Act") in compliance  with Rule
144, if applicable, or in the event that they are not so registered,  unless (i)
an  exemption  from  the Act is  available  thereunder,  (ii) the  Employee  has
furnished  the  Company  with  notice of such  proposed  transfer  and (iii) the
Company's  legal counsel,  in its reasonable  opinion,  shall deem such proposed
transfer to be so exempt.

     RELOAD  OPTION.  If the Employee  tenders shares of Common Stock to pay the
exercise price of the Option, and/or withheld to pay the applicable  withholding
taxes upon exercise of a portion of the Option,  the Employee will receive a new
option (the "Reload  Option") to purchase  that number of shares of Common Stock
equal to the  number  of  shares  tendered  to pay the  exercise  price  and the
withholding  taxes.  The Reload Option shall have an exercise price equal to the
Fair Market  Value as of the date of exercise of the Option.  The Reload  Option
may be exercised commencing one year after it is granted and shall expire on the
date of expiration of the Option.

     EMPLOYEE'S ACKNOWLEDGMENTS. The Employee hereby acknowledges that:

          All reports and documents required to be filed by the Company with the
Securities and Exchange  Commission pursuant to the Exchange Act within the last
12 months have been made available to the Employee for his inspection.

          If he exercises  the Option,  he may have to bear the economic risk of
the investment in the Option Shares for an indefinite period of time because the
Option Shares may not have been  registered  under the Act and cannot be sold by
him  unless  they are  registered  under the Act or an  exemption  therefrom  is
available thereunder.

          In his position with the Company,  he has had both the  opportunity to
ask  questions of and receive  answers  from the  officers and  directors of the
Company and all persons acting on its behalf concerning the terms and conditions
of the offer made  hereunder  and to obtain any  additional  information  to the
extent the Company  possesses or may possess such  information or can acquire it
without  unreasonable  effort or expense necessary to verify the accuracy of the
information obtained pursuant to subparagraph (a) above.

          The Company shall place stop transfer  orders with its transfer  agent
against the transfer of the Option Shares in the absence of  registration  under
the Act or an exemption therefrom if required by the federal securities laws.

          In the  absence  of  registration  under  the  Act,  the  certificates
evidencing the Option Shares shall bear the following legend:

          "The Shares  represented  by this  certificate  have been acquired for
          investment  and have not been  registered  under the Securities Act of
          1933. The shares may not be sold or transferred in the absence of such
          registration or an exemption therefrom under said Act."

                                       3
<PAGE>

     EXERCISE OF OPTION.

          Subject to the terms and conditions of the  Agreement,  the Option may
be exercised  from time to time, in whole or in part,  by written  notice to the
Company at its principal place of business. Such notice shall state the election
to exercise the Option and the number of Option Shares in respect to which it is
being  exercised,  and, if the Option Shares are not then  registered for resale
under the Act, such notice shall contain such  representations as are reasonably
required by the Company for the issuance of the Option shares at such time. Such
notice shall be  accompanied by payment of the full exercise price of the Option
Shares.

          The  exercise  price may be made on a "cashless  basis'" as  described
below, or in cash or by check, bank draft or money order payable to the order of
the  Company.  If the  Employee  elects to make a  "cashless"  exercise  of this
Option,  then payment of the  exercise  price may be made by the delivery to the
Company of that number of shares of Common  Stock owned by the  Employee  for at
least six months  having a Fair  Market  Value equal to the  aggregate  exercise
price.

          The Company shall issue a certificate or  certificates  evidencing the
Option  Shares as soon as  practicable  after the  notice  is  received  and the
payment  has  cleared  the  banking  system.  The  certificate  or  certificates
evidencing  the Option  Shares shall be  registered in the name of the person or
persons so exercising the Option.

          The Company  hereby  represents  and warrants to the Employee that the
Option  Shares,  when issued and  delivered  by the  Company to the  Employee in
accordance with the terms and conditions hereof, will be duly and validly issued
and fully paid and non-assessable.

     WITHHOLDING  TAXES.  Not later  than the date as of which an  amount  first
becomes  includible  in the gross  income of  Employee  for  Federal  income tax
purposes with respect to the Option,  Employee shall pay to the Company, or make
arrangements  satisfactory to the Company regarding the payment of, any Federal,
state and local  taxes of any kind  required  by law to be withheld or paid with
respect  to  such  amount.  The  obligations  of the  Company  pursuant  to this
Agreement  shall be  conditional  upon such  payment  or  arrangements  with the
Company and the Company 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 Employee
from the Company.  Any required  withholding  tax may be paid at the election of
the Employee in cash or by check, or by delivering  shares of Common Stock owned
by the Employee for at least six months  having a Fair Market Value equal to the
aggregate of the tax amount due.

     MISCELLANEOUS

          All notices  provided for in this Agreement  shall be in writing,  and
shall be deemed to have been duly given when  delivered  personally to the party
to receive the same, when transmitted by electronic  means, or when mailed first
class postage prepaid, by certified mail, return receipt requested, addressed to
the party to receive the same at his or its address set

                                       4
<PAGE>

forth below,  or such other  address as the party to receive the same shall have
specified by written notice given in the manner provided for in this Section 11.
All  notices  shall be  deemed  to have  been  given as of the date of  personal
delivery, transmittal or mailing thereof.

          If to Employee:

               Jeffrey Parker
               P.O. Box 56346
               Jacksonville, Florida  32256
               (Fax)  904-731-9112
               (E-mail) jparker@parkervision.com

          If to the Company:

               ParkerVision, Inc.
               8493 Baymeadows Way
               Jacksonville, Florida  32256
               Attn: President
               (Fax) 904-448-6301
               (Email) rsisisky@parkervision.com

          This  Agreement  and the  Employment  Agreement  set forth the  entire
agreement of the parties relating to the Option and is intended to supersede all
prior  negotiations,  understandings  and  agreements.  No  provisions  of  this
Agreement  may be waived or changed  except in writing by the party against whom
such  waiver or change is sought to be  enforced.  The  failure  of any party to
require performance of any provision hereof or thereof shall in no manner affect
the right at a later time to enforce such provision.

          All questions with respect to the  construction  of this Agreement and
the rights and  obligations  of the parties  hereunder  shall be  determined  in
accordance  with the law of the State of Florida  applicable to agreements  made
and to be performed entirely in Florida.

          This  Agreement  shall inure to the benefit of and be binding upon the
successors  and assigns of the Company.  Except as provided in Section 6 of this
Agreement or as permitted under the Plan, this Agreement shall not be assignable
by Employee,  but shall inure to the benefit of and be binding  upon  Employee's
heirs and legal representatives.

          Should any provision of this Agreement  become legally  unenforceable,
no other provision of this Agreement shall be affected, and this Agreement shall
continue  as if  the  Agreement  had  been  executed  absent  the  unenforceable
provision.

          The Company  represents  that the  cashless  exercise  and  repurchase
provisions  set  forth  in  Sections  3.4,  9.2,  and 10 of this  Agreement  was
specifically  approved by the Board of  Directors  of the Company in  connection
with the approval of this Agreement.

                                       5
<PAGE>

     IN WITNESS  WHEREOF,  the parties have executed this  Agreement on the date
first above written.

                                        PARKERVISION, INC.

                                        By: /s/ Richard L. Sisisky
                                            ----------------------
                                            Richard L. Sisisky, President

                                        /s/ Jeffrey Parker
                                        ---------------------------
                                        JEFFREY PARKER

                                       6
<PAGE>

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