Document:

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                                                                     Exhibit 4.4
                            FORM OF WARRANT AGREEMENT

         Agreement made as of _________________, 2004, between GigaBeam
Corporation, a Delaware corporation with offices at 14225-C Sullyfield Circle,
Chantilly, Virginia 20151 ("Company"), and Continental Stock Transfer & Trust
Company, a New York corporation with offices at 17 Battery Place, New York, New
York 10004, a New York corporation, (herein called "Warrant Agent").

         WHEREAS, the Company is engaged in a public offering of Common Stock
and Warrants ("Public Offering") and in connection therewith, has determined to
issue and deliver up to (i) 1,380,000 (including up to 180,000 that may be
issued pursuant to the Underwriter's over-allotment option) Redeemable Common
Stock Purchase Warrants ("Public Warrants") to the public investors and (ii) an
aggregate of 120,000 Warrants to HCFP/Brenner Securities, LLC as representative
of the several underwriters ("Representative") or its respective designees
("Representative's Warrants" and together with the Public Warrants, the
"Warrant(s)"), each of such Warrants evidencing the right of the holder thereof
to purchase one share of the Company's common stock, $.001 par value per share
("Common Stock"), for $5.05; and

         WHEREAS, the Company has filed with the Securities and Exchange
Commission a Registration Statement (No. 333-116020) on Form SB-2 ("Registration
Statement"), for the registration under the Securities Act of 1933, as amended,
of, among others, the Warrants and the Common Stock issuable upon exercise of
the Warrants; and

         WHEREAS, the Company desires the Warrant Agent to act on behalf of the
Company, and the Warrant Agent is willing to so act, in connection with the
issuance, registration, transfer, exchange, redemption and exercise of the
Warrants; and

         WHEREAS, the Company desires to provide for the form and provisions of
the Warrants, the terms upon which they shall be issued and exercised, and the
respective rights, limitation of rights, and immunities of the Company, the
Warrant Agent, and the holders of the Warrants; and

         WHEREAS, all acts and things have been done and performed which are
necessary to make the Warrants, when executed on behalf of the Company and
countersigned by or on behalf of the Warrant Agent, as provided herein, the
valid, binding and legal obligations of the Company, and to authorize the
execution and delivery of this Agreement.

         NOW, THEREFORE, in consideration of the mutual agreements herein
contained, the parties hereto agree as follows:

         1.       Appointment of Warrant Agent. The Company hereby appoints the
Warrant Agent to act as agent for the Company for the Warrants, and the Warrant
Agent hereby accepts such appointment and agrees to perform the same in
accordance with the terms and conditions set forth in this Agreement.

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         2.       Warrants.

         2.1 Form of Warrant. Each Warrant certificate shall be issued in
registered form only, shall be in substantially the form of Exhibit A hereto,
the provisions of which are incorporated herein and shall be signed by, or bear
the facsimile signature of, the Chairman of the Board, President and/or
Vice-President and Secretary or Assistant Secretary of the Company and shall
bear a facsimile of the Company's seal. In the event the person whose facsimile
signature has been placed upon any Warrant certificate shall have ceased to be
Chairman of the Board, Chief Executive Officer and/or President and Secretary or
Assistant Secretary of the Company before such Warrant certificate is issued, it
may be issued with the same effect as if he or she had not ceased to be such at
the date of issuance. The Warrants represented by a Warrant certificate may not
be exercised until such certificate has been countersigned by the Warrant Agent
as provided in Section 2.3 hereof.

         2.2      Effect of Countersignature. Unless and until countersigned by
the Warrant Agent pursuant to this Agreement, a Warrant certificate shall be
invalid and of no effect.

         2.3      Events for Countersignature. The Warrant Agent shall
countersign a Warrant certificate only upon the occurrence of either of the
following events:

                  (a) if the Warrant certificate is to be issued in exchange or
         substitution for one or more previously countersigned Warrant
         certificates, as hereinafter provided, or

                  (b) if the Company instructs the Warrant Agent to do so.

         2.4      Registration.

                  2.4.1    Warrant Register. The Warrant Agent shall maintain
books ("Warrant Register"), for the registration of original issuance and the
registration of transfer of the Warrants. Upon the initial issuance of the
Warrants, the Warrant Agent shall issue and register the Warrants in the names
of the respective holders thereof in such denominations and otherwise in
accordance with instructions delivered to the Warrant Agent by the Company.

                  2.4.2    Registered Holder. Prior to due presentment for
registration of transfer of any Warrant certificate, the Company and the Warrant
Agent may deem and treat the person in whose name such Warrant certificate shall
be registered upon the Warrant Register ("registered holder"), as the absolute
owner of such Warrant and of each Warrant represented thereby (notwithstanding
any notation of ownership or other writing on the Warrant certificate made by
anyone other than the Company or the Warrant Agent), for the purpose of any
exercise thereof, and for all other purposes, and neither the Company nor the
Warrant Agent shall be affected by any notice to the contrary.

         2.5      Detachability of Warrants. The Warrant Agent understands that
until the completion of the Public Offering, the Warrants may only be purchased
and sold together with the Common Stock and, upon completion of the Public
Offering, are immediately separately transferable.

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         3.       Terms and Exercise of Warrants.

         3.1      Warrant Price. Each Warrant certificate shall, when
countersigned by the Warrant Agent, entitle the registered holder thereof,
subject to the provisions of such Warrant certificate and of this Warrant
Agreement, to purchase from the Company the number of shares of Common Stock
stated therein, at the price of $5.05 per whole share, subject to the
adjustments provided in Section 4 hereof. The term "Warrant Price" as used in
this Warrant Agreement refers to the price per share at which Common Stock may
be purchased at the time a Warrant is exercised.

         3.2      Duration of Warrants. A Warrant may be exercised only during
the period ("Exercise Period") commencing on __________, 2004, and terminating
on the earlier of ___________, 2009, or the date fixed for redemption of the
Warrant as provided in Section 6 of this Agreement ("Expiration Date"). Each
Warrant not exercised on or before its expiration date shall become void, and
all rights thereunder and all rights in respect thereof under this Agreement
shall cease at the close of business on its Expiration Date. The Company in its
sole discretion may extend the duration of the Warrants by delaying the
Expiration Date.

         3.3      Exercise of Warrants.

                  3.3.1    Payment. A Warrant, when countersigned by the Warrant
Agent, may be exercised by the registered holder thereof by surrendering the
certificate representing such Warrant, at the office of the Warrant Agent, or at
the office of its successor as Warrant Agent, in the Borough of Manhattan, City
and State of New York, with the purchase form, as set forth on the Warrant
certificate and in substantially the form of Exhibit A hereto, duly executed,
and by paying in full, in lawful money of the United States, in cash, good
certified check or bank draft payable to the order of the Company, the Warrant
Price for each full share of Common Stock as to which the Warrant is exercised
and any and all applicable taxes due in connection with the exercise of the
Warrant, the exchange of the Warrant for the Common Stock, and the issuance of
the Common Stock.

                  3.3.2    Issuance of Certificates. As soon as practicable
after the exercise of any Warrant and the clearance of the funds in payment of
the Warrant Price, the Company shall issue to the registered holder of such
Warrant a certificate or certificates for the number of full shares of Common
Stock to which he is entitled, registered in such name or names as may be
directed by him, and if such Warrant shall not have been exercised in full, a
new countersigned Warrant certificate for the number of shares as to which such
Warrant shall not have been exercised. Notwithstanding the foregoing, the
Company shall not be obligated to deliver any securities pursuant to the
exercise of a Warrant unless a registration statement under the Securities Act
of 1933 with respect to the securities is effective. Warrants may not be
exercised by, or securities issued to, any registered holder in any state in
which such exercise would be unlawful.

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                  3.3.3    Valid Issuance. All shares of Common Stock issued
upon the proper exercise of a Warrant in conformity with this Agreement shall be
validly issued.

                  3.3.4    Date of Issuance. Each person in whose name any such
certificate for shares of Common Stock is issued shall for all purposes be
deemed to have become the holder of record of such shares on the date on which
the Warrant certificate was surrendered and payment of the Warrant Price was
made, irrespective of the date of delivery of such certificate, except that, if
the date of such surrender and payment is a date when the stock transfer books
of the Company are closed, such person shall be deemed to have become the holder
of such shares at the close of business on the next succeeding date on which the
stock transfer books are open.

                  3.3.5    Warrant Solicitation and Warrant Solicitation Fee.

                  (a)      The Company has engaged the Representative, on a
non-exclusive basis, as its agent for the solicitation of the exercise of the
Warrants. The Company, at its cost, will (i) assist the Representative with
respect to such solicitation, if requested by the Representative and (ii)
provide to the Representative, and direct the Company's transfer and warrant
agent to deliver to the Representative, lists of the record, and to the extent
known, beneficial owners of the Company's Warrants. Accordingly, the Company
hereby instructs the Warrant Agent to cooperate with the Representative in every
respect in connection with the Representative's solicitation activities,
including, but not limited to, providing to the Representative, at the Company's
cost, a list of record and beneficial holders of the Warrants and circulating a
prospectus or offering circular disclosing the compensation arrangements
referenced in Section 3.3.5(b) to holders of the Warrants at the time of
exercise of the Warrants. In addition to the conditions set forth in Section
3.3.5(b), the Representative shall accept payment of the warrant solicitation
fee provided in Section 3.3.5(b) only if it has provided bona fide services in
connection with the exercise of the Warrants. In addition to soliciting, either
orally or in writing, the exercise of Warrants by a Warrant holder, such
services also may include disseminating information, either orally or in
writing, to Warrant holders about the Company or the market for the Company's
securities, or assisting in the processing of the exercise of Warrants.

                  (b)       In each instance in which a Warrant is exercised,
the Warrant Agent shall promptly give written notice of such exercise to the
Company and the Representative ("Warrant Agent's Exercise Notice"). If, upon the
exercise of any Warrant after the first anniversary of the effective date of the
Registration Statement, (i) the market price of the Company's Common Stock is
greater than the Warrant Price, (ii) disclosure of compensation arrangements was
made both at the time of the original offering and at the time of exercise (by
delivery of the Prospectus or as otherwise required by applicable law, rule or
regulation), (iii) the exercise of the Warrant was solicited by the
Representative, (iv) the Warrant was not held in a discretionary account, (v)
the solicitation of the exercise of the Warrant was not in violation of
Regulation M (as such rule or any successor rule may be in effect as of such
time of exercise) promulgated under the Securities Exchange Act of 1934, and
(vi) the Representative is a member of the National Association of Securities
Dealers, Inc., then the Warrant Agent, simultaneously with the issuance of the
common stock underlying the Warrant(s), shall, on behalf of the Company, pay
from the proceeds received upon exercise of the Warrant(s), a fee of 5% of the
Warrant Price to the Representative in accordance with its actual solicitation
of a Warrant holder, provided that the Representative delivers to the Warrant
Agent within three (3) business days from the date on which the Representative
received the Warrant Agent's Exercise Notice, a certificate that the conditions
set forth in the preceding clauses (iii), (iv) and (v) have been satisfied. The
Representative and the Company may, at any time during business hours, examine
the records of the Warrant Agent, including its ledger of original Warrant
certificates returned to the Warrant Agent upon exercise of Warrants.

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                  (c)      The provisions of this Section 3.3.5 may not be
modified, amended or deleted without the prior written consent of the
Representative.

         4.       Adjustments.

                  4.1      Stock Dividends - Split-Ups. If after the date
hereof, and subject to the provisions of Section 4.5, the number of outstanding
shares of Common Stock is increased by a stock dividend payable in shares of
Common Stock or by a split-up of shares of Common Stock or other similar event,
then, on the effective date thereof, the number of shares issuable on exercise
of each Warrant shall be increased in proportion to such increase in outstanding
shares and the then applicable Warrant Price shall be correspondingly decreased.

                  4.2      Aggregation of Shares. If after the date hereof, and
subject to the provisions of Section 4.5, the number of outstanding shares of
Common Stock is decreased by a consolidation, combination or reclassification of
shares of Common Stock or other similar event, then, upon the effective date of
such consolidation, combination or reclassification, the number of shares
issuable on exercise of each Warrant shall be decreased in proportion to such
decrease in outstanding shares and the then applicable Warrant Price shall be
correspondingly increased.

                  4.3      Replacement of Securities Upon Reorganization, etc.
If after the date hereof any capital reorganization or reclassification of the
Common Stock of the Company, or consolidation or merger of the Company with
another corporation, or the sale of all or substantially all of its assets to
another corporation or other similar event shall be effected, then, as a
condition of such reorganization, reclassification, consolidation, merger, or
sale, lawful and fair provision shall be made whereby the Warrant holders shall
thereafter have the right to purchase and receive, upon the basis and upon the
terms and conditions specified in the Warrants and in lieu of the shares of
Common Stock of the Company immediately theretofore purchasable and receivable
upon the exercise of the rights represented thereby, such shares of stock,
securities, or assets as may be issued or payable with respect to or in exchange
for the number of outstanding shares of such Common Stock equal to the number of
shares of such stock immediately theretofore purchasable and receivable upon the
exercise of the rights represented by the Warrants, had such reorganization,
reclassification, consolidation, merger, or sale not taken place and in such
event appropriate provision shall be made with respect to the rights and
interests of the Warrant holders to the end that the provisions hereof
(including, without limitation, provisions for adjustments of the Warrant Price
and of the number of shares purchasable upon the exercise of the Warrants) shall
thereafter be applicable, as nearly as may be in relation to any share of stock,
securities, or assets thereafter deliverable upon the exercise hereof. The
Company shall not effect any such consolidation, merger, or sale unless prior to
the consummation thereof the successor corporation (if other than the Company)
resulting from such consolidation or merger, or the corporation purchasing such
assets, shall assume by written instrument executed and delivered to the Warrant
Agent the obligation to deliver to the Warrant holders such shares of stock,
securities, or assets as, in accordance with the foregoing provisions, such
holders may be entitled to purchase.

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                  4.4      Notices of Changes in Warrant. Upon every adjustment
of the Warrant Price or the number of shares issuable on exercise of a Warrant,
the Company shall give written notice thereof to the Warrant Agent, which notice
shall state the Warrant Price resulting from such adjustment and the increase or
decrease, if any, in the number of shares purchasable at such price upon the
exercise of a Warrant, setting forth in reasonable detail the method of
calculation and the facts upon which such calculation is based. Upon the
occurrence of any event specified in Sections 4.1, 4.2, or 4.3, then, in any
such event, the Company shall give written notice in the manner set forth above
of the record date for such dividend, distribution, or subscription rights, or
the effective date of such reorganization, reclassification, consolidation,
merger, sale, dissolution, liquidation, winding up or issuance. Such notice
shall also specify the date as of which the holders of Common Stock of record
shall participate in such dividend, distribution, or subscription rights, or
shall be entitled to exchange their Common Stock for stock, securities, or other
assets deliverable upon such reorganization, reclassification, consolidation,
merger, sale, dissolution, liquidation, winding up or issuance. Failure to give
such notice, or any defect therein, shall not affect the legality or validity of
such event.

                  4.5      No Fractional Shares. Notwithstanding any provision
contained in this Warrant Agreement to the contrary, the Company shall not issue
fractional shares upon exercise of Warrants. If, by reason of any adjustment
made pursuant to this Section 4, the holder of any Warrant would be entitled,
upon the exercise of such Warrant, to receive a fractional interest in a share,
the number of shares of Common Stock to be received shall be rounded off to the
nearest whole number.

                  4.6      Form of Warrant. The form of Warrant need not be
changed because of any adjustment pursuant to this Section 4, and Warrants
issued after such adjustment may state the same Warrant Price and the same
number of shares as is stated in the Warrants initially issued pursuant to this
Agreement. However, the Company may at any time in its sole discretion make any
change in the form of Warrant that the Company may deem appropriate and that
does not affect the substance thereof, and any Warrant thereafter issued or
countersigned, whether in exchange or substitution for an outstanding Warrant or
otherwise, may be in the form as so changed.

         5.       Transfer and Exchange of Warrants.

                  5.1      Registration of Transfer. The Warrant Agent shall
register the transfer, from time to time, of any outstanding Warrant upon the
Warrant Register, upon surrender of a Warrant certificate for transfer, properly
endorsed with signatures properly guaranteed and accompanied by appropriate
instructions for transfer. Upon any such transfer, a new Warrant certificate
representing an equal aggregate number of Warrants shall be issued and the old
Warrant certificate shall be canceled by the Warrant Agent. The Warrant
certificate so canceled shall be delivered by the Warrant Agent to the Company
from time to time upon request.

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                  5.2      Procedure for Surrender of Warrants. Warrant
certificates may be surrendered to the Warrant Agent, together with a written
request for exchange, and thereupon the Warrant Agent shall issue in exchange
therefor one or more new Warrant certificates as requested by the registered
holder of the Warrant certificates so surrendered, representing an equal
aggregate number of Warrants; provided, however, that in the event that a
Warrant certificate surrendered for transfer bears a restrictive legend, the
Warrant Agent shall not cancel such Warrant certificate and issue new Warrant
certificates in exchange therefor until the Warrant Agent has received an
opinion of counsel for the Company stating that such transfer may be made and
indicating whether the new Warrant certificates also must bear a restrictive
legend.

                  5.3      Fractional Warrants. The Warrant Agent shall not be
required to effect any registration of transfer or exchange which will result in
the issuance of a warrant certificate for a fraction of a warrant. The number of
Warrants to be delivered shall be rounded off to the nearest whole number.

                  5.4      Service Charges. No service charge shall be made for
any exchange or registration of transfer of Warrants.

                  5.5      Warrant Execution and Countersignature. The Warrant
Agent is hereby authorized to countersign and to deliver, in accordance with the
terms of this Agreement, the Warrants required to be issued pursuant to the
provisions hereof, and the Company, whenever required by the Warrant Agent, will
supply the Warrant Agent with Warrant certificates duly executed on behalf of
the Company for such purpose.

         6.       Redemption.

                  6.1      Redemption. Not less than all of the outstanding
Warrants may be redeemed, at the option of the Company, after they become
exercisable and prior to the Expiration Date, at the office of the Warrant
Agent, upon the notice referred to in Section 6.2, at the price of $.05 per
Warrant ("Redemption Price"), provided that (i) the last sale price of the
Common Stock has been at least one hundred and fifty percent (150%) of the then
effective exercise price of the Public Warrants on each of the fifteen (15)
consecutive trading days ending on the third business day prior to the date on
which notice of redemption is given, the satisfaction of which condition shall
be certified by the Company and (ii) the Company has obtained the prior written
consent of the Underwriter. The provisions of this Section 6.1 may not be
modified, amended or deleted without the prior written consent of the
Underwriter.

                  6.2      Date Fixed for, and Notice of, Redemption. In the
event the Company shall elect to redeem all or any part of the outstanding
Warrants, the Company shall fix a date for the redemption. Notice of redemption
shall be mailed by first class mail, postage prepaid, by the Company or the
Company's agent at its direction not less than 30 days from the date fixed for
redemption to the registered holders of the outstanding Warrants to be redeemed
at their last address as they shall appear on the registration books. Any notice
mailed in the manner herein provided shall be conclusively presumed to have been
duly given whether or not the registered holder received such notice.

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                  6.3      Exercise After Notice of Redemption. The outstanding
Warrants may be exercised in accordance with Section 3 of this Agreement at any
time after notice of redemption shall have been given by the Company pursuant to
Section 6.2 hereof and prior to the date fixed for redemption. On and after the
redemption date, the record holder of the outstanding Warrants shall have no
further rights except to receive, upon surrender of the outstanding Warrants,
the Redemption Price.

                  6.4      Outstanding Warrants Only. The Company understands
that the redemption rights provided for by this Section 6 apply only to
outstanding Warrants. To the extent a person holds rights to purchase Warrants,
such purchase rights shall not be extinguished by redemption. However, once such
purchase rights are exercised, the Company may redeem the Warrants issued upon
such exercise provided that the criteria for redemption is met. The provisions
of this Section 6.4 may not be modified, amended or deleted without the prior
written consent of the Underwriter.

         7.       Other Provisions Relating to Rights of Holders of Warrants.

                  7.1      No Rights as Stockholder. A Warrant does not entitle
the registered holder thereof to any of the rights of a stockholder of the
Company, including, without limitation, the right to receive dividends, or other
distributions, exercise any preemptive rights to vote or to consent or to
receive notice as stockholders in respect of the meetings of stockholders or the
election of directors of the Company or any other matter.

                  7.2      Lost, Stolen, Mutilated, or Destroyed Warrants. If
any Warrant certificate is lost, stolen, mutilated, or destroyed, the Company
and the Warrant Agent may, on such terms as to indemnity or otherwise as they
may in their discretion impose (which shall, in the case of a mutilated Warrant
certificate, include the surrender thereof), issue a new Warrant certificate of
like denomination, tenor, and date as the Warrant certificate so lost, stolen,
mutilated, or destroyed. Any such new Warrant certificate shall constitute a
substitute contractual obligation of the Company, whether or not the allegedly
lost, stolen, mutilated, or destroyed Warrant certificate shall be at any time
enforceable by anyone.

                  7.3      Reservation of Common Stock. The Company shall at all
times reserve and keep available a number of its authorized but unissued shares
of Common Stock that will be sufficient to permit the exercise in full of all
outstanding Warrants issued pursuant to this Agreement.

                  7.4      Registration of Common Stock. The Company agrees
that, during such time as the Public Warrants and Representative's Warrants
remain outstanding and exercisable, it shall file with the Securities and
Exchange Commission a post-effective amendment to the Registration Statement, if
possible, or a new registration statement, to maintain registration under the
Securities Act of 1933 of such Warrants and shares underlying such Warrants, and
it shall take such action as is necessary to qualify for sale, in those states
in which the Warrants were initially offered by the Company, the Common Stock
issuable upon exercise of the Warrants. The Company shall maintain the
effectiveness of such registration statement and keep current a prospectus
thereunder and maintain such qualification until the expiration of the Public
Warrants and the Representative's Warrants in accordance with the provisions of
this Agreement. The provisions of this Section 7.4 may not be modified, amended
or deleted without the prior written consent of the Representative.

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         8.       Concerning the Warrant Agent and Other Matters.

                  8.1      Payment of Taxes. The Company will from time to time
promptly pay all taxes and charges that may be imposed upon the Company or the
Warrant Agent in respect of the issuance or delivery of shares of Common Stock
upon the exercise of Warrants, but the Company shall not be obligated to pay any
transfer taxes in respect of the Warrants or such shares.

                  8.2      Resignation, Consolidation, or Merger of Warrant
Agent.

                  8.2.1    Appointment of Successor Warrant Agent. The Warrant
Agent, or any successor to it hereafter appointed, may resign its duties and be
discharged from all further duties and liabilities (other than those incurred
prior to such resignation or discharge) hereunder after giving sixty (60) days'
notice in writing to the Company. If the office of the Warrant Agent becomes
vacant by resignation or incapacity to act or otherwise, the Company shall
appoint in writing a successor Warrant Agent in place of the Warrant Agent. If
the Company shall fail to make such appointment within a period of 30 days after
it has been notified in writing of such resignation or incapacity by the Warrant
Agent or by a holder of Warrants (who shall, with such notice, submit his
Warrant for inspection by the Company), then the holder of any Warrant may apply
to the Supreme Court of the State of New York for the County of New York for the
appointment of a successor Warrant Agent. Any successor Warrant Agent, whether
appointed by the Company or by such court, shall be a corporation organized,
existing and in good standing and authorized under the laws of the state in
which it was incorporated to exercise corporate trust powers, shall maintain an
office in the Borough of Manhattan, City and State of New York for the transfer
of the Warrants and, if not incorporated in the State of New York, shall be
authorized to do business in the State of New York as a foreign corporation, and
subject to supervision or examination by federal or state authority and shall be
authorized to serve as Warrant Agent for the Warrants under the Securities
Exchange Act of 1934, as amended. After appointment, any successor Warrant Agent
shall be vested with all the authority, powers, rights, immunities, duties, and
obligations of its predecessor Warrant Agent with like effect as if originally
named as Warrant Agent hereunder, without any further act or deed; but if for
any reason it becomes necessary or appropriate, the predecessor Warrant Agent
shall execute and deliver, at the expense of the Company, an instrument
transferring to such successor Warrant Agent all the authority, powers, and
rights of such predecessor Warrant Agent hereunder; and upon request of any
successor Warrant Agent the Company shall make, execute, acknowledge, and
deliver any and all instruments in writing for more fully and effectually
vesting in and confirming to such successor Warrant Agent all such authority,
powers, rights, immunities, duties, and obligations.

                  8.2.2    Notice of Successor Warrant Agent. In the event a
successor Warrant Agent shall be appointed, the Company shall give notice
thereof to the predecessor Warrant Agent and the transfer agent for the Common
Stock not later than the effective date of any such appointment.

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                  8.2.3    Merger or Consolidation of Warrant Agent. Any
corporation into which the Warrant Agent may be merged or with which it may be
consolidated or any corporation resulting from any merger or consolidation to
which the Warrant Agent shall be a party, if it shall be eligible to serve as
Warrant Agent under Section 8.2.1, shall be the successor Warrant Agent under
this Agreement without any further act.

         8.3      Fees and Expenses of Warrant Agent.

                  8.3.1    Remuneration. The Company agrees to pay the Warrant
Agent reasonable remuneration for its services as such Warrant Agent hereunder
and will reimburse the Warrant Agent upon demand for all expenditures that the
Warrant Agent may reasonably incur in the execution of its duties hereunder.

                  8.3.2    Further Assurances. The Company agrees to perform,
execute, acknowledge, and deliver or cause to be performed, executed,
acknowledged, and delivered all such further and other acts, instruments, and
assurances as may reasonably be required by the Warrant Agent for the carrying
out or performing of the provisions of this Agreement.

         8.4      Liability of Warrant Agent.

                  8.4.1    Reliance on Company Statement. Whenever in the
performance of its duties under this Warrant Agreement, the Warrant Agent shall
deem it necessary or desirable that any fact or matter be proved or established
by the Company prior to taking or suffering any action hereunder, such fact or
matter (unless other evidence in respect thereof be herein specifically
prescribed) may be deemed to be conclusively proved and established by a
statement signed by the President of the Company and delivered to the Warrant
Agent. The Warrant Agent may rely upon such statement for any action taken or
suffered in good faith by it pursuant to the provisions of this Agreement.

                  8.4.2    Indemnity. The Warrant Agent shall be liable
hereunder only for its own negligence or willful misconduct. The Company agrees
to indemnify the Warrant Agent and save it harmless against any and all
liabilities, including judgments, costs and reasonable counsel fees, for
anything done or omitted by the Warrant Agent in the execution of this Agreement
except as a result of the Warrant Agent's negligence, willful misconduct, or bad
faith.

                  8.4.3    Exclusions. The Warrant Agent shall have no
responsibility with respect to the validity of this Agreement or with respect to
the validity or execution of any Warrant (except its countersignature thereof);
nor shall it be responsible for any breach by the Company of any covenant or
condition contained in this Agreement or in any Warrant; nor shall it be
responsible to make any adjustments required under the provisions of Section 4
hereof or responsible for the manner, method, or amount of any such adjustment
or the ascertaining of the existence of facts that would require any such
adjustment; nor shall it by any act hereunder be deemed to make any
representation or warranty as to the authorization or reservation of any shares
of Common Stock to be issued pursuant to this Agreement or any Warrant or as to
whether any shares of Common Stock will when issued be valid and fully paid and
nonassessable.

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                  8.5      Acceptance of Agency. The Warrant Agent hereby
accepts the agency established by this Agreement and agrees to perform the same
upon the terms and conditions herein set forth and among other things, shall
account promptly to the Company with respect to Warrants exercised and
concurrently account for, and pay to the Company, all moneys received by the
Warrant Agent for the purchase of shares of the Company's Common Stock through
the exercise of Warrants.

         9.       Miscellaneous Provisions.

                  9.1      Successors. All the covenants and provisions of this
Agreement by or for the benefit of the Company or the Warrant Agent shall bind
and inure to the benefit of their respective successors and assigns.

                  9.2      Notices. Any notice, statement or demand authorized
by this Warrant Agreement to be given or made by the Warrant Agent or by the
holder of any Warrant to or by the Company shall be sufficiently given or made
if sent by certified mail, or private courier service, postage prepaid,
addressed (until another address is filed in writing by the Company with the
Warrant Agent), as follows:

                           GigaBeam Corporation
                           14225-C Sullyfield Circle
                           Chantilly, Virginia  20151
                           Attn: Louis S. Slaughter, Chief Executive Officer

                  with a copy to:

                           Blank Rome LLP
                           405 Lexington Avenue
                           New York, New York  10174
                           Attn:  Robert J. Mittman, Esq.

Any notice, statement or demand authorized by this Agreement to be given or made
by the holder of any Warrant or by the Company to or on the Warrant Agent shall
be sufficiently given or made if sent by certified mail or private courier
service, postage prepaid, addressed (until another address is filed in writing
by the Warrant Agent with the Company), as follows:

                           Continental Stock Transfer & Trust Company
                           17 Battery Place
                           New York, New York 10004

                                       11
<PAGE>

                  9.3      Applicable law; Jurisdiction. The validity,
interpretation, and performance of this Agreement and of the Warrants shall be
governed in all respects by the law of the State of New York, without giving
effect to principles of conflicts of law. The Company hereby agrees that any
action, proceeding or claim against it arising out of or relating in any way to
this Agreement shall be brought and enforced in the courts of the State of New
York or the United States District Court for the Southern District of New York,
and irrevocably submits to such jurisdiction, which jurisdiction shall be
exclusive. The Company hereby waives any objection to such exclusive
jurisdiction and that such courts represent an inconvenience forum. Any such
process or summons to be served upon the Company may be served by transmitting a
copy thereof by registered or certified mail, return receipt requested, postage
prepaid, addressed to it at the address set forth in Section 9.2 hereof. Such
mailing shall be deemed personal service and shall be legal and binding upon the
Company in any action, proceeding or claim.

                  9.4      Persons Having Rights Under This Agreement. Nothing
in this Agreement expressed and nothing that may be implied from any of the
provisions hereof is intended, or shall be construed, to confer upon, or give
to, any person or corporation other than the parties hereto and the registered
holders of the Warrants and, for the purposes of Sections 3.3.5, 6.1 through 6.4
and 7.4 hereof, the Representative, any right, remedy, or claim under or by
reason of this Warrant Agreement or of any covenant, condition, stipulation,
promise, or agreement hereof. The Representative shall be deemed to be a
third-party beneficiary of this Agreement with respect to such Sections. All
covenants, conditions, stipulations, promises, and agreements contained in this
Warrant Agreement shall be for the sole and exclusive benefit of the parties
hereto (and the Representative to the extent set forth above) and their
successors and assigns and of the registered holders of the Warrants.

                  9.5      Examination of the Warrant Agreement. A copy of this
Agreement shall be available at all reasonable times at the office of the
Warrant Agent in the Borough of Manhattan, City and State of New York, for
inspection by the registered holder of any Warrant. The Warrant Agent may
require any such holder to submit his or her Warrant for inspection by it.

                  9.6      Counterparts. This Agreement may be executed in any
number of counterparts and each of such counterparts shall for all purposes be
deemed to be an original, and all such counterparts shall together constitute
but one and the same instrument.

                  9.7      Effect of Headings. The Section headings herein are
for convenience only and are not part of this Warrant Agreement and shall not
affect the interpretation thereof.

                                       12
<PAGE>

         IN WITNESS WHEREOF, this Agreement has been duly executed by the
parties hereto under their respective corporate seals as of the day and year
first above written.

Attest:                                        GIGABEAM CORPORATION

                                               By:
--------------------------------                  -----------------------------
Name:                                          Name:    Louis S. Slaughter
Title:                                         Title:   Chief Executive Officer

                                               CONTINENTAL STOCK TRANSFER
Attest:                                          & TRUST COMPANY

                                               By:
--------------------------------                  -----------------------------
Name:                                              Name:
Title:                                             Title:

                                       13<PAGE>

                                                                    Exhibit 10.2

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT ("Agreement"), is made as of this 12th day of
July, 2004, by and between GigaBeam CORPORATION, a Delaware corporation, with
its corporate headquarters located at 14225-C Sullyfield Circle, Chantilly, VA
20151, its successors and assigns (hereinafter collectively referred to as
"Company"), and LOUIS S. SLAUGHTER, an individual residing at 13030 Elm Tree
Drive, Herdon, VA 20171 ("Executive").

                                   BACKGROUND

         WHEREAS, Executive is currently employed by Company as Chief Executive
Officer, and serves as Chairman of Company's Board of Directors; and

         WHEREAS, Company intends to complete an Initial Public Offering ("IPO")
of Company common stock and warrants, and offer Executive the foregoing
Agreement contingent upon successful completion of the IPO;

         WHEREAS, should Company complete the IPO, Company desires to continue
to employ Executive, and Executive desires to continue to be employed by the
Company, all upon the terms and conditions set forth in this Agreement.

         NOW, THEREFORE, in consideration of the facts, mutual promises, and
covenants contained herein and intending to be legally bound hereby, the parties
hereto agree as follows:

                  1. Employment. Subject to, and contingent upon, the successful
completion of the IPO, Company hereby employs Executive and Executive hereby
accepts employment by Company, for the period and upon the terms and conditions
set forth in this Agreement, subject to earlier termination pursuant to Section
6 below.

                  2. Office and Duties.

                           (a) During the term of this Agreement, Executive
shall serve as Chief Executive Officer of Company, and shall report directly to
the Company's Board of Directors (the "Board") and/or a committee established by
the Board, and be subject to its and/or their supervision, control and
direction.

                           (b) In his capacity as Chief Executive Officer of
Company, Executive shall have such authority, perform such duties, discharge
such responsibilities and render such services as are customary to, and
consistent with his position, subject to the authority and direction of the
Board, and shall perform such additional duties and responsibilities as may be
from time to time assigned to him by the Board or committee established by the
Board.

<PAGE>

                           (c) The Executive shall render his services
diligently, faithfully and to the best of his ability, and shall devote all of
his working time, energy, skill and best efforts to the performance of his
duties hereunder, in a manner that will further the business and interests of
Company.

                           (d) During the term of this Agreement, Executive
shall not be engaged in any business activity which, in the reasonable judgment
of the Board, conflicts with Executive's duties hereunder, whether or not such
activity is pursued for pecuniary advantage.

                  3. Term. This Agreement shall be effective for a term
commencing on the date the IPO is successfully completed ("Effective Date") and
ending on the Third anniversary thereof (the "Expiration Date"), unless sooner
terminated as hereinafter provided or further extended by the mutual written
agreement of Company and Executive (the "Term").

                  4. Compensation.

                           (a) Base Salary. In consideration of the services
rendered by Executive to Company during the term hereof, Executive shall receive
an annual base salary of Two Hundred and Fifty Thousand and 00/100 Dollars
($250,000.00) ("Base Salary"), payable in equal periodic installments in
accordance with Company's regular payroll practices in effect from time to time.
Executive's Base Salary shall be reviewed annually by the Board and/or a
committee of the Board which has been delegated responsibility for executive
compensation matters (such committee to be referred to herein as the
"Compensation Committee") in accordance with the compensation policies and
guidelines of Company, and may be modified as a result of such review at the
sole discretion of the Board and/or the Compensation Committee.

                           (b) Bonus Plans/Incentive Compensation Programs. In
addition to Base Salary, during the Term, Executive shall be eligible to
participate in any bonus plans or incentive compensation programs, if any, as
may be in effect from time to time, at a level consistent with his position and
with Company's then current policies and practices ("Bonus").

                           (c) Benefits. During the Term, Executive also shall
be entitled to participate in all fringe benefits, if any, as may be in effect
from time to time which are generally available to Company's senior executive
officers, and such other fringe benefits as the Board and/or Compensation
Committee shall deem appropriate, subject to eligibility requirements thereof
(collectively, the "Benefits").

                           (d) Vacation. During the Term, Executive shall be
entitled to the number of paid vacation days in each calendar year as determined
by Company from time to time for its senior executive officers. Vacation days
which are not used during any calendar year may not be accrued or carried-over
to the next year, nor shall Executive be entitled to compensation for unused
vacation days.

                           (e) Business Expenses. During the Term, Company shall
pay or reimburse Executive for all reasonable expenses incurred or paid by
Executive in the performance of Executive's duties hereunder, upon timely
presentation of expense statements or vouchers and such other information as
Company may reasonably require and in accordance with the generally applicable
policies and practices of Company.

                                       2
<PAGE>

                           (f) Withholding. All payments made pursuant to this
Agreement shall be subject to such withholding taxes as may be required by any
applicable law.

                  5. Representations of Executive. Executive represents to
Company that: (a) there are no restrictions, agreements or understandings
whatsoever to which Executive is a party that would prevent, or make unlawful,
his execution of this Agreement and his employment hereunder; (b) his execution
of this Agreement and his employment hereunder shall not constitute a breach of
any contract, agreement or understanding, oral or written, to which he is a
party, or by which he is bound; and (c) he is of full capacity, free and able to
execute this Agreement and to enter into this Agreement with Company.

                  6. Termination. This Agreement shall continue until the
Expiration Date, unless terminated earlier by Company or Executive as provided
herein, or further extended by the mutual written agreement of Company and
Executive. Unless otherwise extended by the mutual written agreement of Company
and Executive, this Agreement shall terminate automatically on the Expiration
Date, without any notice, severance pay, termination pay or any severance
obligation whatsoever. If, however, this Agreement is terminated prior to the
Expiration Date by Company or Executive, the provisions contained in Section 7,
Payments Upon Termination, shall apply.

                           (a) Termination by Company for Cause. Company shall
have the right to terminate this Agreement at any time for "Cause". For purposes
of this Agreement, the term "Cause" shall mean the following:

                                    (i) Executive commits fraud or theft against
Company or any of its subsidiaries, affiliates, joint ventures and related
organizations (collectively referred to as "Affiliates"), or is indicted,
convicted of, or pleads guilty or nolo contendere to, a felony; or

                                    (ii) In carrying out his duties hereunder,
the Executive engages in conduct that constitutes gross neglect or willful
misconduct and that results, in either case, in material economic harm to
Company or its Affiliates; or

                                    (iii) Executive materially breaches any
provision of this Agreement (including but not limited to the restrictive
covenants contained in Paragraph 8 below) or breaches any fiduciary duty or duty
of loyalty owed to Company or its Affiliates; or

                                    (iv) Executive engages in conduct tending to
bring Company or its Affiliates into public disgrace or disrepute; or

                                    (v) Executive repeatedly neglects or refuses
to perform duties or responsibilities as directed by Company or the Board, or
violates any express direction of any lawful rule or regulation established by
Company or the Board which is consistent with the scope of Executive's duties
under this Agreement; or

                                    (vi) Executive commits any acts or omissions
resulting in or intended to result in direct personal gain to the Executive at
the expense of Company or its Affiliates; or

                                       3
<PAGE>

                                    (vii) Executive compromises trade secrets or
other confidential and proprietary information of Company or its Affiliates.

                  "Cause" shall not include a bona fide disagreement over a
corporate policy, so long as Executive does not willfully violate on a
continuing basis specific written directions from the Board, which directions
are consistent with the provisions of this Agreement. Action or inaction by
Executive shall not be considered "willful" unless done or omitted by him
intentionally and without his reasonable belief that his action or inaction was
in the best interests of Company or its Affiliates, and shall not include
failure to act by reason of total or partial incapacity due to physical or
mental illness.

                           (b) Termination by Company upon the Death or
Disability of Executive. Company shall have the right to terminate this
Agreement at any time upon the death or Disability of Executive. The term,
"Disability", as used herein, means any physical or mental illness, disability
or incapacity which prevents Executive from performing the essential functions
of his job, with or without reasonable accommodations, hereunder for a period of
not less than one hundred fifty (150) consecutive days or for an aggregate of
one hundred eighty (180) days during any period of twelve (12) consecutive
months. During any period of Disability, Executive agrees to submit to
reasonable medical examinations upon the reasonable request, and at the expense,
of Company.

                           (c) Termination By Company Without Cause. Company
shall have the right to terminate this Agreement at any time without "Cause"
and/or without the occurrence of Executive's death or Disability upon thirty
(30) days written notice to Executive.

                           (d) Termination By Executive For Good Reason.
Executive shall have the right to terminate his employment at any time during
the Term of this Agreement for "Good Reason" upon sixty (60) days prior written
notice to Company's Board. For purposes of this Agreement, "Good Reason" shall
mean any of the following:

                                    (i) the assignment to Executive by Company
of any duties inconsistent with Executive's status with Company or a substantial
alteration in the nature or status of Executive's responsibilities from those in
effect on the Effective Date hereof, or a reduction in Executive's titles or
offices as in effect on the Effective Date hereof, except in connection with the
termination of his employment for Cause or Disability or as a result of
Executive's death, or by Executive other than for Good Reason;

                                    (ii) a reduction by Company in Executive's
Base Salary as in effect on the Effective Date or as the same may be increased
from time to time during the term of this Agreement;

                                    (iii) the relocation of Executive to a
Company office located more than one hundred and fifty (150) miles from
Chantilly, Virginia;

                                    (iv) any material breach by Company of a
material term or provision contained in this Agreement, which breach is not
cured within thirty (30) days following the receipt by the Board of written
notice of such breach; or

                                       4
<PAGE>

                                    (v) Executive ceases to be a Director of the
Company not as a result of his resignation or declination to stand for
reelection.

                           (e) Termination by Executive for Other than Good
Reason. If Executive shall desire to terminate his employment hereunder for
other than Good Reason, he shall first give Company not less than ninety (90)
days prior written notice of termination. Upon a termination of Executive's
employment with Company under this Section 6(e), the effective date of
termination shall be the date set forth in executive's resignation notice
(assuming such date is in compliance with the notice provisions of this Section
6(e)) or an earlier date after Company's receipt of such notice as determined by
Company, in its sole discretion, but not earlier than the date on which Company
learned of Executive's decision to terminate his employment for other than Good
Reason.

                           (f) Notice of Termination. Any termination, except
for death, pursuant to this Section 6 shall be communicated by a Notice of
Termination. For purposes of this Agreement, a "Notice of Termination" shall
mean a written notice which shall indicate those specific termination provisions
in this Agreement relied upon and which sets forth in reasonable detail the
facts and circumstances claimed to provide a basis for termination of the
Executive's employment under the provisions so indicated. The Notice of
Termination shall also set forth Executive's employment is terminated and be
delivered in accordance with the terms of this Agreement.

                  Notwithstanding anything to the contrary set forth herein, the
provisions of Sections 8 and 9 shall survive the termination of Executive's
employment hereunder for any reason, and shall remain in full force and effect
thereafter.

                  7. Payments Upon Termination.

                           (a) Termination for Cause. In the event Executive's
employment hereunder is terminated for Cause, all of Executive's rights to his
Base Salary, Benefits and Bonus, if any, shall immediately terminate as of the
date of such termination, except that Executive shall be entitled to any earned
and unpaid portion of his Base Salary and accrued Benefits up to the date of
termination, less all deductions or offsets for amounts owed by Executive to
Company. Company shall have no further obligations to Executive under the
Agreement.

                           (b) Termination Due to Death or Disability. In the
event Executive's employment hereunder is terminated due to his death or
Disability, all of Executive's rights to his Base Salary, Benefits and Bonus, if
any, shall immediately terminate as of the date of such termination, except that
Executive (or, in the event that Executive's employment hereunder is terminated
due to Executive's death, Executive's heirs, personal representative or estate)
shall be entitled to any earned and unpaid portion of his Base Salary and
accrued Benefits up to the date of termination less all deductions or offsets
for amounts owed by Executive to Company. Company shall have no further
obligations to Executive under the Agreement.

                                       5
<PAGE>

                           (c) Termination By Company Without Cause or By
Executive For Good Reason. If Company terminates Executive's employment other
than for Cause or the occurrence of Executive's death or Disability, or if
Executive terminates his employment for Good Reason, all of Executive's rights
to his Base Salary (so long as Executive is not in breach of this Agreement)
shall continue as severance payments until, and terminate upon, the eighteen
(18) month anniversary of the date of such termination (the "Severance Period"),
provided that Executive executes, and does not revoke, a General Release of all
claims relating to his employment and termination from employment in a form
provided by Company. Executive understands that should he fail or refuse to
execute the General Release provided by Company, or revoke such General Release,
he shall not be entitled to any severance payments under this section.
Executive's Base Salary referred to in this paragraph shall be payable during
the Severance Period in equal periodic installments in accordance with Company's
regular payroll practices then in effect, but shall cease immediately if
Executive is in breach of this Agreement. Company shall have no further
obligations to Executive under the Agreement.

                           (d) Termination By Executive For Other Than Good
Reason. In the event Executive terminates his employment for other than Good
Reason, all of Executive's rights to his Base Salary, Benefits and Bonus, if
any, shall immediately terminate as of the date of termination, except that
Executive shall be entitled to any earned and unpaid portion of his Base Salary
and accrued Benefits up to the date of termination. Company shall have no
further obligations to Executive under the Agreement.

                           (e) Recognition. Executive recognizes and accepts
that Company shall not, in any case, be responsible for any additional amount,
severance pay, termination pay, severance obligation or other damages whatsoever
arising from the termination of Executive's employment, above and beyond those
specifically provided for herein.

                  8. Restrictive Covenants.

                           (a) Non-Competition. During the Term, and for a
period of twenty-four (24) months thereafter, Executive will not, in any
capacity (including, but not limited to, owner, partner, member shareholder,
consultant, advisor, financier, agent, executive, officer, director, manager or
otherwise), directly or indirectly, for his own account or for the benefit of
any natural person, corporation, partnership, trust, estate, joint venture, sole
proprietorship, association, cooperative or other entity ("Person"), establish,
engage in, work for, or be connected with, except as an executive of Company,
any business in competition with the Business of Company (as defined in Section
8(i) below), if such business competes with the Business of Company in any
State, county, or municipality where Company or its Affiliates conduct business,
are preparing to conduct business or have conducted business during the Term.

                           (b) Non-Solicitation/Non-Piracy. During the Term, and
for a period of twenty-four (24) months thereafter, Executive will not, directly
or indirectly, for his own account or for the benefit of any Person or entity:

                                    (i) solicit, service, contact, or aid in the
solicitation or servicing of any Person or entity which is or was a customer,
prospective customer, client, prospective client, contractor, subcontractor or
supplier of Company or its Affiliates within three (3) years prior to
Executive's termination ("Company Customers/Clients"), for the purpose of (a)
selling services or goods in competition with the Business of Company; (b)
inducing Company Customers/Clients to cancel, transfer or cease doing business
in whole or in part with Company or its Affiliates or (c) inducing Company
Customers/Clients to do business with any Person or business entity in
competition with the Business of Company.

                                       6
<PAGE>

                                    (ii) solicit, aid in solicitation of,
induce, contact for the purpose of, encourage or in any way cause any executive
of Company or its Affiliates to leave the employ of Company or its Affiliates,
or interfere with such executive's relationship with Company or its Affiliates.

                           (c) Non-Disclosure. Other than in furtherance of the
Business of Company, in the ordinary course in his capacity as an executive
hereunder, Executive will not, at any time, except with the express prior
written consent of the Board, directly or indirectly, disclose, communicate or
divulge to any Person or entity, or use for the benefit of any Person or entity,
any secret, confidential or proprietary knowledge or information with respect to
the conduct or details of the Business of Company including, but not limited to,
customer and client lists, customer and client accounts and information,
prospective client, customer, contractor and subcontractor lists and
information, services, techniques, methods of operation, pricing, costs, sales,
sales strategies and methods, marketing, marketing strategies and methods,
products, product development, research, know-how, policies, financial
information, financial condition, business strategies and plans and other
information of Company or its Affiliates which is not generally available to the
public and which has been developed or acquired by Company or its Affiliates
with considerable effort and expense. Upon the expiration or termination of
Executive's employment under this Agreement, Executive shall immediately deliver
to Company all memoranda, books, papers, letters, and other data (whether in
written form or computer stored), and all copies of same, which were made by
Executive or otherwise came into his possession or under his control at any time
prior to the expiration or termination of his employment under this Agreement,
and which in any way relate to the Business of Company as conducted or as
planned to be conducted by Company or its Affiliates on the date of the
expiration or termination.

                           (d) Intellectual Property. Executive will promptly
communicate to Company, in writing when requested, all software, designs,
techniques, concepts, methods and ideas, other technical information, marketing
strategies and other ideas and creations pertaining to the Business of Company
which are conceived or developed by Executive alone or with others, at any time
(during or after business hours) while Executive is employed by Company or its
Affiliates. Executive acknowledges that all of those ideas and creations are
inventions and works for hire, and will be Company's exclusive property.
Executive will sign any documents which Company deems necessary to confirm its
ownership of those ideas and creations, and Executive will cooperate with
Company in order to allow Company to take full advantage of those ideas and
creations.

                           (e) Non-Disparagement. Executive will not, at any
time, publish or communicate disparaging or derogatory statements or opinions
about Company or its Affiliates, including but not limited to, disparaging or
derogatory statements or opinions about Company's or its Affiliates' management,
products or services, to any third party. It shall not be a breach of this
section for Executive to testify truthfully in any judicial or administrative
proceeding or to make statements or allegations in legal filings that are based
on Executive's reasonable belief and are not made in bad faith.

                                       7
<PAGE>

                           (f) Enforcement. Executive acknowledges that the
covenants and agreements of this Section 8 ("Covenants") herein are of a special
and unique character, which give them peculiar value, the loss of which cannot
be reasonably or adequately compensated for in an action at law. Executive
further acknowledges that any breach or threat of breach by him of any of the
Covenants will result in irreparable injury to Company for which money damages
could not be adequate to compensate Company. Therefore, in the event of any such
breach or threatened breach, Company shall be entitled, in addition to all other
rights and remedies which Company may have at law or in equity, to have an
injunction issued by any competent court enjoining and restraining Executive
and/or all other Persons involved therein from committing a breach or continuing
such breach. The remedies granted to Company in this Agreement are cumulative
and are in addition to remedies otherwise available to Company at law or in
equity. The Covenants contained in this Section 8 are independent of any other
provision of this Agreement, and the existence of any claim or cause of action
which Executive or any such other Person may have against Company shall not
constitute a defense or bar to the enforcement of any of the Covenants. If
Company is obliged to resort to litigation to enforce any of the Covenants which
has a fixed term, then such term shall be extended for a period of time equal to
the period during which a material breach of such Covenant was occurring,
beginning on the date of a final court order (without further right of appeal)
holding that such a material breach occurred, or, if later, the last day of the
original fixed term of such Covenant.

                           (g) Acknowledgements. Executive acknowledges that
prior to entering into this Agreement he has had the opportunity to obtain
independent advice from his legal counsel, accountants and tax advisors in
connection with this Agreement and has done so to the extent he deemed it
appropriate. Executive expressly acknowledges that the Covenants are a material
part of the consideration bargained for by Company, and, without the agreement
of Executive to be bound by the Covenants, Company would not have agreed to
enter into this Agreement. Executive further acknowledges and agrees that the
Business of Company and its services are highly competitive, and that the
Covenants contained in this Section 8 are reasonable and necessary to protect
Company's legitimate business interests. In addition, Executive acknowledges
that in the event his employment with Company terminates, he will still be able
to earn a livelihood without violating this Agreement, and that the Covenants
contained in this Section 8 are material conditions to my employment and
continued employment with Company.

                           (h) Scope. If any portion of any Covenant or its
application is construed to be invalid, illegal or unenforceable, then the
remaining portions and their application shall not be affected thereby, and
shall be enforceable without regard thereto. If any of the Covenants is
determined to be unenforceable because of its scope, duration, geographical area
or similar factor, then the court or other trier of fact making such
determination shall modify, reduce or limit such scope, duration, area or other
factor, and enforce such Covenant to the extent it believes is lawful and
appropriate.

                           (i) Business of Company. The term "Business of
Company", as used herein, shall mean the design, manufacture, service or sale by
Company or its Affiliates of high data rate (gigabit class) millimeter wave
frequency, point to point wireless communications equipment. The term shall also
mean the provision by Company or its Affiliates of intake, assessment and
referral, case management and network management services to governmental
agencies and provider networks, and any other business in which Company or its
Affiliates were actually engaged or planning to be engaged during the Term.

                                       8
<PAGE>

                           (j) Indemnification. Executive shall indemnify,
defend and hold harmless Company in respect of all liabilities, charges,
damages, losses, expenses, fees, and costs of any nature (including reasonable
attorney's fees and costs of litigation) that result from a failure by Executive
to fully perform or comply with any Covenant contained in this Section 8.

                  9. Miscellaneous.

                           (a) Indulgences, Etc. Neither the failure, nor any
delay, on the part of either party to exercise any right, remedy, power or
privilege under this Agreement shall operate as a waiver thereof, nor shall any
single or partial exercise of any right, remedy, power or privilege preclude any
other or further exercise of the same, or of any other right, remedy, power or
privilege, nor shall any waiver of any right, remedy, power or privilege with
respect to any occurrence be construed as a waiver of such right, remedy, power
or privilege with respect to any other occurrence. No waiver shall be effective
unless it is in writing and is signed by the party asserted to have granted such
waiver.

                           (b) Controlling Law; Consent to Arbitration; Service
of Process.

                                    (i) This Agreement and all questions
relating to its validity, interpretation, performance and enforcement
(including, without limitation, provisions concerning limitations of actions),
shall be governed by and construed in accordance with the laws of the State of
Delaware (notwithstanding any conflict-of-laws doctrines of such state or other
jurisdiction to the contrary), and without the aid of any canon, custom or rule
of law requiring construction against the draftsman.

                                    (ii) Except to the extent provided for in
Section 8 above (relating to injunctive relief and other equitable remedies),
Company and Executive agree that any claim, dispute or controversy arising under
or in connection with this Agreement, or otherwise in connection with
Executive's employment by Company or termination of his employment (including,
without limitation, any such claim, dispute or controversy arising under any
federal, state or local statute, regulation or ordinance or any of Company's
executive benefit plans, policies or programs) shall be resolved solely and
exclusively by binding, confidential, arbitration. The arbitration shall be held
in Chantilly, Virginia (or at such other location as shall be mutually agreed by
the parties). The arbitration shall be conducted in accordance with the National
Rules for the Resolution of Employment Disputes (the "Rules") of the American
Arbitration Association ("the AAA") in effect at the time of the arbitration,
except that the arbitrator shall be selected by alternatively striking from a
list of five arbitrators supplied by the AAA. All fees and expenses of the
arbitration, including a transcript if either requests, shall be borne equally
by the parties, however, all costs for the services of the arbitrator shall be
borne solely by Company. Each party is responsible for the fees and expenses of
its own attorneys, experts, witnesses, and preparation and presentation of
proofs and post-hearing briefs (unless the party prevails on a claim for which
attorney's fees are recoverable under law). In rendering a decision, the
arbitrator shall apply all legal principles and standards that would govern if
the dispute were being heard in court. This includes the availability of all
remedies that the parties could obtain in court. In addition, all statutes of
limitation and defenses that would be applicable in court, will apply to the
arbitration proceeding. The decision of the arbitrator shall be set forth in
writing, and be binding and conclusive on all parties. Any action to enforce or
vacate the arbitrator's award shall be governed by the Federal Arbitration Act,
if applicable, and otherwise by applicable state law. If either Company or
Executive improperly pursues any claim, dispute or controversy against the other
in a proceeding other than the arbitration provided for herein, the responding
party shall be entitled to dismissal or injunctive relief regarding such action
and recovery of all costs, losses and attorney's fees related to such action.

                                       9
<PAGE>

                                    (iii) Each of the parties hereto hereby
consents to process being served in any suit, action or proceeding of any
nature, by the mailing of a copy thereof by registered or certified first-class
mail, postage prepaid, return receipt requested, to them at their respective
addresses set forth in Section 9(c) hereof. Each of parties hereto hereby
irrevocably waives, to the fullest extent permitted by applicable law, all
claims of error by reason of any such service pursuant to the terms hereof (but
does not waive any right to assert lack of subject matter jurisdiction) and
agrees that such service (A) shall be deemed in every respect effective service
of process in any such suit, action or proceeding and (B) shall, to the fullest
extent permitted by applicable law, be taken and held to be valid personal
service.

                                    (iv) Nothing in this Section 9(b) shall
affect the right of any party hereto to serve process in any manner permitted by
law or affect the right of any party to bring proceedings against any other
party in the courts of any jurisdiction or jurisdictions.

                           (c) Notices. All notices, requests, demands and other
communications required or permitted under this Agreement shall be in writing
and shall be deemed to have been duly given, made and received only when
delivered (personally, by courier service such as Federal Express, or by other
messenger) or when deposited in the United States mails, registered or certified
mail, postage prepaid, return receipt requested, addressed as set forth below:

                          (i) If to Executive:

                              Louis S. Slaughter
                              13030 Elm Tree Drive
                              Herdon, VA 20171

                         (ii) If to Company:

                              GigaBeam Corporation
                              14225-C Sullyfield Circle
                              Chantilly, VA 20151
                              Attention: Board of Directors

         In addition, notice by mail shall be by air mail if posted outside of
the continental United States.

                                       10
<PAGE>

         Any party may alter the addresses to which communications or copies are
to be sent by giving notice of such change of address in conformity with the
provisions of this Section for the giving of notice.

                           (d) Assignment of Agreement. The rights and
obligations of both parties under this Agreement shall inure to the benefit of
and shall be binding upon their heirs, successors and assigns. Company may
assign or otherwise transfer its rights under this Agreement, including but not
limited to all Covenants contained in Section 8 above, to any successor or
affiliated business or corporation whether by sale of stock, merger,
consolidation, sale of assets or otherwise. This Agreement may not, however, be
assigned by Executive to a third party, nor may Executive delegate his duties
under this Agreement.

                           (e) Execution in Counterparts. This Agreement may be
executed in any number of counterparts, including by facsimile, each of which
shall be deemed to be an original as against any party whose signature appears
thereon, and all of which shall together constitute one and the same instrument.
This Agreement shall become binding when one or more counterparts hereof,
individually or taken together, shall bear the signatures of all of the parties
reflected hereon as the signatories.

                           (f) Provisions Separable. The provisions of this
Agreement are independent of and separable from each other, and no provision
shall be affected or rendered invalid or unenforceable by virtue of the fact
that for any reason any other or others of them may be invalid or unenforceable
in whole or in part.

                           (g) Entire Agreement. This Agreement contains the
entire understanding among the parties hereto with respect to the subject matter
hereof, and supersedes all prior and contemporaneous agreements and
understandings between the parties, inducements or conditions, express or
implied, oral or written, except as herein contained. The express terms hereof
control and supersede any course of performance and/or usage of the trade
inconsistent with any of the terms hereof. This Agreement may not be modified or
amended other than by an agreement in writing.

                           (h) Section Headings. The Section headings in this
Agreement are for convenience only; they form no part of this Agreement and
shall not affect its interpretation.

                           (i) Gender, Etc. Words used herein, regardless of the
number and gender specifically used, shall be deemed and construed to include
any other number, singular or plural, and any other gender, masculine, feminine
or neuter, as the context indicates is appropriate.

                           (j) Number of Days. In computing the number of days
for purposes of this Agreement, all days shall be counted, including Saturdays,
Sundays and holidays; provided, however, that if the final day of any time
period falls on a Saturday, Sunday or holiday on which entities which are
provincially regulated are or may elect to be closed, then the final day shall
be deemed to be the next day which is not a Saturday, Sunday or such holiday.

                                       11
<PAGE>

                           (k) Costs, Expenses in the Event of Breach. In the
event that either Executive or Company breaches this Agreement, the
non-breaching party shall be entitled to reimbursement for all costs and
expenses associated with enforcing such non-breaching party's rights and
remedies under this Agreement, including but not limited to legal fees and costs
of litigation.

            [The remainder of this page is intentionally left blank]

                                       12
<PAGE>

         IN WITNESS WHEREOF, the parties have executed and delivered this
Agreement, intending to be legally bound hereby, as of the date first above
written.

                                GIGABEAM CORPORATION

                                By: /s/ Douglas G. Lockie
                                    ----------------------------------------
                                Name:  Douglas G. Lockie
                                Title: President and Chief Technology Officer

                                LOUIS S. SLAUGHTER

                                /s/ Louis. S. Slaughter
                                --------------------------------------------

         [Signature Page to Employment Agreement of Louis S. Slaughter]

                                       13

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