| Date                of Report (date of earliest event reported): | October                25, 2007 |   |
|------------------------------------------------------------------|---------------------------------|--------|

| PROXIM                WIRELESS CORPORATION                                           |
|--------------------------------------------------------------------------------------|
| (Exact                name of registrant as specified in its                charter) |

| Delaware                                                      | 000-29053                               | 04-2751645                                       |
|---------------------------------------------------------------|-----------------------------------------|--------------------------------------------------|
| (State                or other jurisdiction of incorporation) | (Commission                file number) | (IRS                employer identification no.) |

| 2115                O’Nel Drive, San Jose, CA     | 95131                     |
|---------------------------------------------------------|---------------------------|
| (Address                of principal executive offices) | (Zip                code) |

| Registrant’s                telephone number, including area code: | (408)                731-2700 |   |
|--------------------------------------------------------------------------|-------------------------------|--------|

| TERABEAM,                INC.                                                               |
|---------------------------------------------------------------------------------------------|
| (Former                name or former address, if changed since last                report) |

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|   | · | Mr.                Renauld’s employment is “at will” and subject to termination at any time                by either Proxim or Mr. Renauld subject to the other terms of the                agreement; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Mr.                Renauld’s base salary is $194,250 per                year; |
|--------|--------|-------------------------------------------------------------------------------------|

|   | · | Mr.                Renauld is eligible for an annual bonus pursuant to an incentive                plan to                be established by Proxim’s board of directors with a target annual bonus                opportunity of at least 50% of Mr. Renauld’s base                salary; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Mr.                Renauld would be entitled to severance benefits if Proxim terminates                his                employment without cause (as defined in the employment agreement)                or if                Mr. Renauld terminates his employment for good reason (as defined                in the                employment agreement).  The severance benefits consist of (a)                continued payment of base salary for eleven months (the “Severance                Period”), (b) a pro rated portion of his annual bonus (if the payment                criteria are met), (c) acceleration of any of Mr. Renauld’s stock options                that would have otherwise vested during the Severance Period with                those                options remaining exercisable for the entire Severance Period, and                (d)                continued coverage during the Severance Period under Proxim’s medical                insurance plans at the same cost to Mr. Renauld as prior to                termination; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Mr.                Renauld’s severance benefits described above would be modified as                described below if Proxim terminates his employment without cause                (as                defined in the employment agreement) or if Mr. Renauld terminates                his                employment for good reason (as defined in the employment agreement)                within                twelve months following or three months prior to a change of control                of                Proxim subject to possible reduction for excise tax reasons: (a)                Mr.                Renauld’s base salary amount described above would be paid in a lump sum                shortly after termination, (b) Mr. Renauld’s annual bonus amount would be                paid in a lump sum shortly after termination without regard to meeting                the                payment criteria, and (c) all of Mr. Renauld’s unvested options would                accelerate; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Mr.                Renauld agreed to keep Proxim’s information confidential;                and |
|--------|--------|-------------------------------------------------------------------------------------------------------|

|   | · | During                his employment and for one year thereafter, Mr. Renauld agreed not                to                compete with Proxim and to not solicit Proxim’s employees subject to the                provisions of applicable law. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                   | PROXIM                WIRELESS CORPORATION |
|----------------------------------------|--------------------------------------------|
|                                   |                                       |   |
| Dated:                October 30, 2007 | By:                                        |                    /s/ David L. Renauld       |
|                                   |                                       | David                L. Renauld |
|                                   |                                       | Vice                President |

| Number | Title                                                                                                                                                                           |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                            |
| 10.1   | Amended                and Restated Employment Agreement between the Registrant and David                L.                Renauld dated as of October 25,                2007. |