Document:

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                                                                   EXHIBIT 10.48

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                              AMENDED AND RESTATED

                      LIMITED LIABILITY COMPANY AGREEMENT

                                       of

                          CLEARWIRE HAWAII PARTNERS LLC

                                 by and between

                                CLEARWIRE US LLC

                                       and

                                 SHICHININ, LLC

                            Dated as of July 12, 2006

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     This AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT, dated as of
July 12, 2006, by and between Clearwire US LLC, a Nevada limited liability
company ("Clearwire") and Shichinin, LLC, a Delaware limited liability company
("Hawaiian Member"), and supersedes in its entirety the limited liability
company agreement of Clearwire Hawaii Partners LLC dated July 11, 2006.

     WHEREAS, Hawaiian Member formed Clearwire Hawaii Partners LLC (the
"Company") on July 7, 2006 and executed a subscription agreement, dated July 11,
2006 (the "Subscription Agreement") whereby Hawaiian Member has committed to
contribute Fifteen Million Dollars ($15,000,000.00) within 60 days after the
date of formation of the Company;

     WHEREAS, in order to take advantage of their combined resources and
experience with respect to the ownership and operation of wireless
communications systems, Clearwire wishes to purchase a membership interest in
the Company and to enter into an Amended and Restated Limited Liability Company
Agreement which sets forth their mutual understandings and agreements with
respect to the Company and their interests therein;

     NOW, THEREFORE, in consideration of the mutual promises and covenants
herein contained, it is hereby agreed as follows:

                                    ARTICLE 1
                                     GENERAL

     Section 1.1. Name

     The name of the Company is CLEARWIRE HAWAII PARTNERS LLC.

     Section 1.2. Principal Place of Business; Registered Office and Agent.

          (a) The Company's principal office and place of business is located at
     5808 Lake Washington Blvd. N.E., Suite 300, Kirkland, WA 98033. The
     principal office and place of business may be changed from time to time,
     and other offices and places of business may be established from time to
     time, by the Manager with notice to the Members.

          (b) The address of the registered office of the Company in the State
     of Delaware shall be 2711 Centerville Road, Suite, 400, Wilmington,
     Delaware or such other address as the Manager may determine from time to
     time. The registered agent for service of process on the Company shall be
     Corporation Services Company or such other agent as the Manager may
     determine from time to time.

     Section 1.3. Term.

     The term of the Company shall commence on July 12, 2006 and, unless sooner
terminated in accordance with the terms hereof, shall be perpetual.

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     Section 1.4. Purpose and Powers.

          (a) The purposes of the Company shall be to acquire, develop, own and
     operate certain assets for the provision of wireless broadband services
     within the State of Hawaii (the "Business") and includes any reasonable
     extensions or modifications thereof.

          (b) The foregoing provisions of this Section 1.4 may be modified by
     the affirmative vote or consent of the holders of a Majority in Interest of
     the Members. The foregoing provisions of this Section 1.4 shall not be
     construed to authorize the Company to, and the Company shall not, and the
     Members agree that the Company shall not, engage in any activities other
     than the foregoing (and in particular any activities expanding or changing
     the scope of the Business beyond that contemplated by the definition
     thereof) without the consent of the holders of a Majority in Interest,
     which they may withhold in their sole discretion.

     Section 1.5. Filings.

     The Manager shall cause to be executed, filed and published all such
certificates, notices, statements or other instruments, and amendments thereto,
under the laws of the State of Washington, Delaware, and Hawaii and other
applicable jurisdictions as the Manager may deem necessary or advisable for the
operation of the Company.

     Section 1.6. Sole Agreement.

     The parties intend that their obligations to each other and the scope of
their joint enterprise be as set forth in this Agreement, and that no further
authority to bind the other or the Company or any liabilities to each other or
any third party be inferred from the relationships described in such agreements.

     Section 1.7. Definitions.

     Capitalized terms used in this Agreement without other definition shall,
unless expressly stated otherwise, have the respective meanings specified in
this Section 1.7.

     "Act" means the Delaware Limited Liability Company Act, 6 Del. C. Section
18.101 et seq., as the same may be amended or replaced from time to time.

     "Adjustment Date" means the closing date of a sale of a majority of the
stock or all or substantially all of the assets in (i) Clearwire Corporation or
(ii) a Clearwire Affiliate.

     "Affiliate" means, when used with reference to a specified Person, (i) any
Person that directly or indirectly controls or is controlled by or is under
common control with the specified Person, and (ii) any Person that is an officer
or director of, a manager of, a general partner in or a trustee of, or serves in
a similar capacity with respect to, the specified Person or any Person described
in clause (i) or of which the specified Person or any Person described in clause
(i) is a director, officer, general partner, manager or

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trustee, or with respect to which the specified Person or any Person described
in clause (i) serves in a similar capacity; provided, that the Company shall be
deemed not to be an Affiliate of any of the Members or any of their respective
Affiliates. For purposes of this Section 1.7., the term "control" (including the
terms "controlling," "controlled by" and "under common control with") of a
Person means the possession, direct or indirect, of the power to (i) vote 50% or
more of the Units of such Person or (ii) direct or cause the direction of the
management and policies of such Person, whether by contract or otherwise.

     "Agents" is defined in Section 6.5(a).

     "Agreement" means this Limited Liability Company Agreement, as amended,
modified, supplemented or restated from time to time.

     "Alternative Rights Notice" is defined in Section 7.6(a).

     "Alternative Transaction" is defined in Section 7.6(a).

     "Alternative Transaction Purchase Price" is defined in Section 7.6(a).

     "Assignment and Assumption Agreement" is defined in Section 2.2(a).

     "Bankruptcy" means with respect to any Member:

               (i) the filing by such Member of a voluntary petition seeking
          liquidation, dissolution, reorganization, rearrangement, readjustment
          or similar relief, in any form, of its debts under the Federal
          Bankruptcy Code (or corresponding provisions of future laws) or any
          other bankruptcy or insolvency law, or such Member's filing an answer
          consenting to, or acquiescing in any such petition, or the
          adjudication of such Member as a bankrupt or insolvent;

               (ii) the making by such Member of an assignment for the benefit
          of its creditors or any similar action for the benefit of creditors,
          or the admission by such Member in writing of its inability to pay its
          debts as they mature;

               (iii) the expiration of sixty (60) days after the filing of an
          involuntary petition under the Federal Bankruptcy Code (or
          corresponding provisions of future laws) or any other bankruptcy or
          insolvency law, an application for the appointment of a receiver for
          the assets of such Member, or an involuntary petition seeking
          liquidation, dissolution, reorganization, rearrangement or
          readjustment of its debts or similar relief under any bankruptcy or
          insolvency law, provided that the same shall not have been vacated,
          set aside or stayed within such sixty (60)-day period;

               (iv) the giving of notice by such Member to any Governmental
          Authority of insolvency or pending insolvency or suspension or pending

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          suspension of operations;

               (v) the appointment (or such Member's seeking or acquiescing in
          such appointment) of any trustee, receiver, conservator or liquidator
          of such Member of all or any substantial part of its properties or its
          interest in the Company; or

               (vi) the entry of an order for relief against such Member under
          the Federal Bankruptcy Code (or corresponding provisions of future
          laws) or any other bankruptcy or insolvency law.

The foregoing is intended to supersede and replace the events listed in Section
25.15.130 (1) (d) and (e) of the Act.

     "Bill of Title Transfer" is defined in Section 2.2(a).

     "Book Value" means (a) with respect to any property contributed to the
Company by a Member, the fair market value of such property reduced (but not
below zero) by all Depreciation with respect to such property charged to the
Members' Capital Accounts and (b) with respect to any other asset of the
Company, the adjusted basis of such property for federal income tax purposes,
all as of the time of determination, and subject to adjustment pursuant to
Section 2.1(b).

     "Business" is defined in Section 1.4(a).

     "Capital Account" is defined in Section 2.1(a).

     "Change of Control" is defined in Section 7.9.

     "Claim" is defined in Section 10.3(a).

     "Clearwire Assets" is defined in Section 2.2(b).

     "Clearwire Seller" is defined in Section 7.6(a).

     "Code" means the Internal Revenue Code of 1986, as amended from time to
time.

     "Company" is defined in the second paragraph of this Agreement.

     "Confidential Information" means all documents and information concerning
the Company and/or its Subsidiaries, the Members or their Affiliates, furnished
to a Member or its Affiliate in connection with the transactions leading up to
and contemplated by this Agreement and the operation of the Company and/or its
Subsidiaries.

     "Consent" means any consents and approvals of Governmental Authorities or
other third parties necessary to authorize, approve or permit the parties hereto
to consummate the Transactions and for the Company to operate its business.

     "Contribution Option" is defined in Section 2.3(a).

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     "Deficit Capital Account" means, with respect to any Member, the deficit
balance, if any, in such Member's Capital Account as of the end of the taxable
year, after giving effect to the following adjustments:

               (i) credit to such Capital Account any amount that such Member is
          obligated to restore to the Company under Regulation Section
          1.704-1(b)(2)(ii)(c), as well as any addition thereto pursuant to the
          next to last sentences of Regulation Sections 1.704-2(g)(1) and
          (i)(5); and

               (ii) debit to such Capital Account the items described in
          Regulation Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6).

     This definition is intended to comply with the provisions of Regulation
Sections 1.704-1(b)(2)(ii)(d) and 1.704-2, and shall be interpreted consistently
with those provisions.

     "Depreciation" means, for each fiscal year or other period, an amount equal
to the depreciation, amortization or other cost recovery deduction allowable
with respect to an asset for such year or other period for federal income tax
purposes; provided, that if the Book Value of an asset differs from its adjusted
basis for federal income tax purposes at the beginning of any such year or other
period, Depreciation shall be an amount that bears the same relationship to the
Book Value of such asset as the depreciation, amortization, or other cost
recovery deduction computed for federal income tax purposes with respect to such
asset for the applicable period bears to the adjusted tax basis of such asset at
the beginning of such period, or, if such asset has a zero adjusted tax basis,
Depreciation shall be an amount determined under any reasonable method selected
by the Manager.

     "Distributable Cash" means, as of the end of any fiscal period, the excess
of the cash and cash equivalents held by the Company and its Subsidiaries over
the aggregate amount of any reserves established by the Manager (in accordance
with sound business practice) to fund the Company's reasonably anticipated cash
requirements.

     "Drag Notice" is defined in Section 7.2.

     "Drag Rights" is defined in Section 7.2.

     "Equity Interests" means capital stock, partnership interests, limited
liability company interests or other ownership or beneficial interests of any
Person.

     "Exchange Act" means the Securities Exchange Act of 1934, as amended.

     "Fair Market Value" means, with respect to any asset, as of the date of
determination, the cash price at which a willing seller would sell and a willing
buyer would buy, each being apprised of all relevant facts and neither acting
under compulsion, such asset in an arm's-length negotiated transaction with an
unaffiliated third party without time constraints. Without limiting the
foregoing the Fair Market Value of any Unit shall be the Fair Market Value of
the Company, taken as a whole, divided by the

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total outstanding Units of the Company, as of the date of the determination.
Except as otherwise provided in Section 7.6, Fair Market Value shall be
determined in accordance with Section 7.9.

     "FCC" means the Federal Communications Commission or any successor agency
or entity performing substantially the same functions.

     "FCC Law" means the Communications Act of 1934, as amended (including as
amended by the Telecommunications Act of 1996), and the rules, regulations and
policies promulgated thereunder.

     "GAAP" means generally accepted accounting principles as used by the
Financial Accounting Standards Board and/or the American Institute of Certified
Public Accountants.

     "Governmental Authority" means a national, state, provincial, county, city,
local or other governmental or regulatory body or authority, whether domestic or
foreign.

     "Immediate Family" means, with respect to any Person, such Person's spouse,
parents, siblings and children, and such Person's spouse's parents, siblings and
children.

     "Indemnified Party" is defined in Section 10.1(b).

     "Indemnifying Party" is defined in Section 10.3(a).

     "Indenture" means that certain Indenture dated as of August 5, 2005, as
subsequently amended, among Clearwire, Clearwire LLC, Fixed Wireless Holdings,
LLC, NextNet Wireless, Inc., and The Bank of New York, as Trustee.

     "Initiating Members" is defined in Section 6.8(e).

     "Information Rights Member" means a Member holding at least 5% of the
outstanding Units in the Company.

     "Interest" means the Membership Interest of a Member, and includes the
entire legal and equitable ownership interest of a Member in the Company.

     "Law" means applicable common law and any statute, ordinance, code or other
law, rule, permit, permit condition, regulation, order, decree, technical or
other standard, policy, opinion, requirement or procedure enacted, adopted,
promulgated, applied or followed by any Governmental Authority.

     "License" means a license, permit, certificate of authority, waiver,
approval, certificate of public convenience and necessity, registration or other
authorization, consent or clearance to construct or operate a facility
(including any emissions, discharges or releases therefrom), to transact an
activity or business, to construct a tower or to use an asset or process, in
each case issued or granted by a Governmental Authority.

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     "Lien" means, with respect to any asset, any mortgage, lien, pledge,
charge, security interest, right of first refusal or other right of others
therein, or encumbrance of any nature whatsoever in respect of such asset.

     "Liquidator" is defined in Section 9.3(b).

     "Majority in Interest" means, with respect to any matter, any combination
of Members who, in the aggregate, own greater than 50% of the outstanding Units
of the Company.

     "Manager" is defined in Section 6.1.

     "Material Adverse Effect" means a material adverse effect on the business,
financial condition, assets, liabilities or results of operations or prospects
of the Person specified.

     "Member" means Clearwire, Hawaiian Member and/or any Person who, at the
time of the reference thereto, has been admitted to the Company as a Member in
accordance with the terms of this Agreement and has not ceased to be a Member
hereunder, in such Person's capacity as a member (within the meaning of the Act)
of the Company.

     "Membership Interest" means all of a Member's share in the net profits, net
losses, and other items of income or loss of the Company and distributions of
the Company's assets pursuant to this Agreement, based on the percentage of
outstanding Units owned by that Member, and all of a Member's rights to
participate in the management or affairs of the Company, including the right to
vote on, consent to or otherwise participate in any decision of the Members.

     "Neutral Bank" means the internationally recognized investment banking firm
selected as follows: (a) Clearwire shall initially propose a slate of three
firms; and (b) from such slate Hawaiian Member shall select the firm.

     "Non-Tax Distributions" means all distributions to a Member other than
distributions intended (as determined in good faith by the Manager) to provide
cash for the payment of such Member's federal income taxes based solely on such
Member's distributive share of the Company's income.

     "Offer" is defined in Section 7.4.

     "Option Amount" is defined in Section 2.3(a).

     "Percentage Interest" means, with respect to a Unit Holder on a particular
date, a fraction, expressed as a percentage, the numerator of which is the
number of Units held by such Unit Holder on such date and the denominator of
which is the total number of Units then outstanding.

     "Person" means any individual, corporation, partnership, firm, joint
venture,

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limited liability company, limited liability partnership, association, joint
stock company, trust, estate, incorporated or unincorporated organization,
Governmental Authority, or other entity.

     "Presenting Member" is defined in Section 6.6(b).

     "Remaining Members" is defined in Section 6.8(e).

     "Reporting Entities" is defined in Section 5.7.

     "SEC" means the Securities and Exchange Commission.

     "Sarbanes-Oxley Act" is defined in Section 5.7.

     "Selling Member" is defined in Section 7.6(a).

     "Significant Event" is defined in Section 6.3(a).

     "Significant Matter" is defined in Section 6.3(a).

     "Subscription Agreement" is defined in the Preamble.

     "Subsidiary" means, when used with respect to a specified Person, any other
Person of which at least 50% of the Equity Interests are owned, directly or
indirectly, through one or more intermediaries by the specified Person.

     "Tag Notice" is defined in Section 7.3.

     "Tax Matters Partner" is defined in Section 5.6(d).

     "Transactions" means the transactions contemplated by this Agreement.

     "Treasury Regulations" means temporary and final regulations issued by the
United States Department of the Treasury pursuant to the Code.

     "Unit Holder" means a Person who is the owner of Unit(s) in the Company.

     "Units" means each of the 10,000,000 units in the Company issued pursuant
to Section 2.2 for the initial capital contributions by the Members, each of
which initially represents a 0.001% Membership Interest under this Agreement and
any Units subsequently issued pursuant to Section 2.3 or 2.4, or otherwise. The
Membership Interest represented by a Unit shall be proportionately adjusted for
any issuance of additional Units pursuant to Section 2.3 or 2.4 of this
Agreement or otherwise.

     "Wireless Communications System" means the equipment and other assets
required for the provision of wireless communications services.

     "Wireless Opportunity" is defined in Section 6.6(b).

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                                    ARTICLE 2
                                 CAPITALIZATION

     Section 2.1. Capital Accounts.

          (a) A capital account ("Capital Account") shall be determined and
     maintained for each Member in accordance with the principles of Regulation
     Section 1.704-1(b) at all times throughout the full term of the Company. In
     the event of a permitted sale or assignment of all or any part of a
     Member's Units or Membership Interest, the Capital Account of the
     transferor shall become the Capital Account of the transferee to the extent
     it relates to the transferred Unit(s) or Membership Interest.

          (b) The Book Value of all Company properties shall, unless otherwise
     determined by the Manager, be adjusted to equal their respective gross fair
     market values, as determined by the Manager, as of the following times: (1)
     in connection with the acquisition of a Unit or Membership Interest by a
     new or existing Member for more than a de minimis capital contribution; (2)
     in connection with the grant of Units or other Membership Interest (other
     than a de minimis interest) as consideration for the provision of services
     to or for the benefit of the Company by an existing Member acting in a
     member capacity, or by a new Member acting in a member capacity or in
     anticipation of being a member; (3) in connection with the liquidation of
     the Company as defined in Regulation Section 1.704-(1)(b)(2)(ii)(g); or (4)
     in connection with a more than de minimis distribution to a retiring or a
     continuing Member as consideration for all or a portion of his or its
     Unit(s) or Membership Interest. In the event of a revaluation of any
     Company assets hereunder, the Capital Accounts of the Members shall be
     adjusted, including continuing adjustments for Depreciation, to the extent
     provided in Regulation Section 1.704-(1)(b)(2)(iv)(f).

     Section 2.2. Initial Capital Contributions.

          (a) Effective July 11, 2006, pursuant to the Subscription Agreement,
     Hawaiian Member made a commitment to contribute to the Company the amount
     of Fifteen Million Dollars ($15,000,000) within sixty (60) days from the
     date of the Company's formation. In connection with this commitment, the
     Company issued to Hawaiian Member two million one hundred forty thousand
     (2,140,000) Units to reflect its ownership interest in the Company.

          (b) Within sixty (60) days from the date of the Company formation,
     subject to the satisfaction of the applicable conditions set forth in
     Section 2.2(d) below, Clearwire shall contribute those assets listed on
     Schedule 2.2 (the "Clearwire Assets") pursuant to an Assignment and
     Assumption Agreement in the form attached as Exhibit A (the "Assignment and
     Assumption Agreement") and a Bill of Title Transfer in the form attached as
     Exhibit B (the "Bill of Title Transfer") in exchange for 7,860,000 Units.
     The Clearwire Assets are being transferred subject to a continuing lien on
     these assets pursuant to the Indenture. Clearwire and Hawaiian

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     Member hereby agree that the initial Capital Account balance of Clearwire
     is Fifty Five Million Dollars ($55,000,000).

          (c) Immediately after giving effect to the contribution to the equity
     of the Company by Clearwire set forth above in Section 2.2(b), Clearwire
     shall own 78.6% of the outstanding Units in the Company and Hawaiian Member
     shall own 21.4% of the outstanding Units in the Company.

          (d) The obligations of Clearwire to consummate the contributions set
     forth in this Section 2.2 shall be subject to the following:

               (i) With respect to both Clearwire and Hawaiian Member, no
          governmental entity of competent jurisdiction shall have enacted,
          issued, promulgated, enforced, or entered into any statute, rule,
          regulation, executive order, decree, injunction or other order
          (whether temporary, preliminary or permanent) that has the effect of
          making the transactions contemplated by this Agreement illegal or
          impractical.

               (ii) The representation and warranties of Hawaiian Member set
          forth in Section 8.3 hereof shall be true and correct in all material
          respects on the date hereof and on the date of consummation of the
          transaction contemplated by this Section 2.2, and (y) Hawaiian Member
          shall have satisfied its obligations under the Subscription Agreement.

               (iii) Hawaiian Member's contribution of Fifteen Million Dollars
          ($15,000,000) pursuant to Section 2.2(a).

          (e) The obligation of Hawaiian Member to contribute Fifteen Million
     Dollars ($15,000,000) pursuant to Section 2.2(a) shall be subject to the
     following:

               (i) The representation and warranties of Clearwire set forth in
          Section 8.3 hereof shall be true and correct in all material respects
          on the date hereof and on the date of consummation of the transaction
          contemplated by this Section 2.2

               (ii) Clearwire's contribution of the Clearwire Assets pursuant to
          Section 2.2(b).

     Section 2.3. Hawaiian Member Contribution Option.

          (a) Contribution Option. For three (3) years from the date of this
     Agreement, Hawaiian Member shall have the option to contribute an
     additional Fifty Million Dollars ($50,000,000) ("Option Amount") in
     immediately available funds in exchange for 5,680,000 additional Units in
     the Company (the "Contribution Option"), subject to adjustment for
     additional capital calls, non-prorata distributions, and reorganization
     events.

          (b) Notice and Payment. Hawaiian Member shall give written notice of

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     its intent to exercise the Contribution Option and shall, within ten (10)
     days of such notice wire the Option Amount to the Company in exchange for
     the additional ownership interest stated in Section 2.3(a) above.

          (c) Amendment. Each of the Members agree that this Section 2.3 shall
     not be modified or amended without the written consent of the Hawaiian
     Member.

     Section 2.4. Additional Contributions.

          (a) Additional Contributions. The Manager shall determine whether it
     is in the Company's interest to borrow amounts necessary to satisfy the
     Company's additional capital needs or whether a capital call of the Members
     should be made. In the event that the Manager determines that a capital
     call is in the Company's best interests, or in the event that a Majority in
     Interest decides to expand the scope of the Company's operations, whether
     by adding additional services or increasing the market scope of the
     Company, then the Manager shall provide written notice to each Member with
     respect to the amount of required additional capital, the number of Units
     to be sold and the price per Unit and requesting each Member to provide its
     proportionate share of such additional capital. Within five (5) days of the
     delivery of such notice, each Member will provide the Manager with written
     notice as to whether it will contribute its proportionate share of the
     additional capital.

          (b) Disproportionate Contributions. If any Member chooses not to so
     contribute, then the contributing Members shall have the option to purchase
     the non-participating Member's share of the Units being sold in addition to
     their own share of the Units.

          (c) Insufficient Additional Contributions. If additional capital is
     needed to expand the operations of the Company into new markets (including
     markets in the islands of Hawaii) and the Company does not receive the full
     amount of additional contributions requested pursuant to Section 2.4(a)
     above, then the contributing Members may form a new entity with respect to
     such expanded areas, and the non-contributing Member shall not have any
     ownership interest in such new entity.

     Section 2.5. No Withdrawals

     Except as expressly set forth herein, no Member shall be entitled to
withdraw any portion of its capital contribution or Capital Account balance.

     Section 2.6. No Interest on Capital Contribution.

     Except as expressly set forth herein, no Member shall be entitled to
receive any interest on its capital contribution or Capital Account balance.

     Section 2.7. No Third Party Beneficiaries

     The provisions of this Article 2 are intended solely to benefit the Members
and, to the fullest extent permitted by applicable law, shall not be construed
as conferring any

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benefit upon any creditor of the Company (and no such creditor shall be a third
party beneficiary of this Agreement), and no Member shall have any duty or
obligation to any creditor of the Company to make up any capital contributions
to the Company and no Member or Manager shall have any duty or obligation to any
creditor of the Company to issue any call for capital pursuant to this Article 2
or otherwise.

     Section 2.8. Preemptive Right

          (a) Grant of Preemptive Rights. The Company hereby grants to each
     Eligible Member the preemptive rights set forth in this Section 2.8 with
     respect to each issuance of Units, or securities or instruments convertible
     into or exchangeable or exercisable for any Units, of any class of security
     of the Company, other than the Units that are issued and outstanding as of
     the date of this Agreement and other than Units issued or issuable in the
     following circumstances (collectively, subject to the following exceptions,
     "New Units"):

               (i) Units (and/or options, warrants or other Unit purchase
          rights, and the Units issued pursuant to such options, warrants or
          other rights) issuable or issued to employees, consultants, directors,
          vendors, lessors or others with whom the Company conducts business,
          provided that such shares, options, warrants or other rights are
          issued directly in a transaction approved by the Manager or pursuant
          to a stock option plan or restricted stock plan approved by the
          Majority in Interest;

               (ii) Units (and/or options, warrants or other Unit purchase
          rights, and the Units issued pursuant to such options, warrants or
          other rights) issued to financial institutions or lessors in
          connection with commercial credit arrangements, equipment financing or
          similar transactions;

               (iii) Units (and/or options, warrants or other Unit purchase
          rights, and the Units issued pursuant to such options, warrants or
          other rights) issued pursuant to transactions involving technology
          licensing, research or development activities, the use or acquisition
          of strategic assets, properties or rights, or the distribution,
          manufacture or marketing of the Company's products, provided that each
          of the foregoing transactions is primarily for non-financing purposes;

               (iv) Units issuable or issued in connection with bona fide
          acquisitions of or by the Company whether by merger, consolidation,
          sale of assets, sale or exchange of equity or otherwise, the terms of
          which are approved by the Manager and the Majority in Interest;

               (v) Units (and/or options, warrants or other Unit purchase
          rights, and the Units issued pursuant to such options, warrants or
          other rights) issued or issuable (i) to the public pursuant to the IPO
          or (ii) upon exercise of warrants or rights granted to underwriters in
          connection with

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          such IPO;

               (vi) Units (and/or options, warrants or other Unit purchase
          rights, and the Units issued pursuant to such options, warrants or
          other rights) issuable or issued pursuant to agreements and warrants
          existing on the date hereof, including without limitation, the rights
          of the Hawaiian Member to purchase Units pursuant to Section 2.3
          hereof;

               (vii) Units issued in connection with any equity split, equity
          dividend, reserve equity split or other distribution of Units that
          does not affect the economic interests or rights of holders of Units.

          (b) Exercise of Preemptive Rights. Each time after the date of this
     Agreement and prior to the time that the Company proposes to offer any New
     Units, the Company shall first make an offering of such New Units to the
     Eligible Member in accordance with this Section 2.8.

               (i) The Company shall deliver a notice (the "Issue Notice") to
          the Eligible Member stating (x) the bona fide intention of the Company
          to offer such New Units, (y) the number of such New Units to be
          offered, and (z) the price and terms upon which the Company proposes
          to offer such New Units.

               (ii) By written notification received by the Company, within 10
          business days after receipt of the Issue Notice, each Eligible Member
          may elect to purchase, at the price and on the terms specified in the
          Issue Notice, a portion of such New Units that equals the proportion
          that the number of Units including any options, warrants or other
          share purchase rights held by such Member bears to the total number of
          shares of Units of the Company then outstanding, on a fully diluted
          basis, but excluding (x) any options, warrants or other rights to
          acquire Units where the fair market value of the Units issuable on the
          exercise of such options, warrants or other rights, as determined in
          good faith by the Manager, is less that the exercise price of such
          options, warrants or other rights and (y) any Units and options,
          warrants or other rights to acquire Units that are reserved but
          unallocated pursuant to any stock plan. Such written notification
          shall be a binding, irrevocable commitment to purchase such New Units.

               (iii) If Eligible Members do not elect to purchase all of the New
          Units that Eligible Members are entitled to purchase under subsection
          (ii), the Company may offer the unsubscribed portion of such New Units
          to any Persons at a price not less than, and upon terms no more
          favorable to the offeree, than those specified in the Issue Notice,
          provided that the Company completes the offer and sale of such
          unsubscribed portion within 120 business days after the date the
          applicable Issue Notice is first delivered to stockholders of the
          Company.

                                       13

<PAGE>

               (iv) No Member may assign its rights under this Section 2.8
          without the consent of the Manager, which may be withheld at its sole
          discretion.

          (c) Eligible Member. For the purposes of this Section 2.8, an
     "Eligible Member" shall mean each Member holding at least 1% of the
     outstanding capital equity of the Company, on a fully diluted basis on the
     day immediately prior to the issuance of the Issue Notice.

                                    ARTICLE 3
                               PROFITS AND LOSSES

     Section 3.1. Allocation of Net Profit and Loss - In General.

          (a) Allocation of Net Profit. After giving effect to the special
     allocations set forth in Sections 3.2 and 3.3, the net profit for any
     fiscal year of the Company shall be allocated among the Members in the
     following order of priority:

               (i) first, to the Members in the reverse chronological order in
          which net losses were allocated to the Members pursuant to Sections
          3.1(b)(iv), 3.1(b)(iii), and 3.1(b)(ii), respectively, until each
          Member has received aggregate allocations of net profit under this
          Section 3.1(a)(i) in an amount equal to, but not in excess of, the
          aggregate allocations of net loss to such Member pursuant to Sections
          3.1(b)(ii) through 3.1(b)(iv)) for all prior fiscal years; and

               (ii) thereafter, to the Members in proportion to their respective
          Percentage Interests.

          (b) Allocation of Net Loss. After giving effect to the special
     allocations set forth in Sections 3.2 and 3.3, the net loss for any fiscal
     year of the Company shall be allocated among the Members in the following
     order of priority:

               (i) first, in proportion to the amounts allocated to the Members
          pursuant to Section 3.1(a)(ii) in an amount equal to the excess, if
          any, of (i) the cumulative net profits allocated to the Members
          pursuant to Section 3.1(a)(ii) for all prior fiscal years, over (ii)
          the cumulative net losses allocated to the Members pursuant to this
          Section 3.1(b)(i) for all prior fiscal years;

               (ii) second, to the Members in proportion to their respective
          Percentage Interests; provided, however, that net losses shall not be
          allocated to any Member pursuant to this Section 3.1(b)(ii) to the
          extent such allocation would cause such Member to have a Deficit
          Capital Account at the end of any fiscal year. Such excess net loss
          shall, instead, be allocated in accordance with Section 3.1(b)(iii);

               (iii) third, the remaining net loss, if any, shall be allocated

                                       14
<PAGE>

          among those Members who do not have Deficit Capital Accounts in
          proportion to their respective Percentage Interests; provided,
          however, that no allocation under this Section 3.1(b)(iii) shall cause
          any Member to have a Deficit Capital Account; and

               (iv) thereafter, any remaining net loss shall be allocated among
          the Members in proportion to their respective Percentage Interests.

     Section 3.2. Special Allocations

     The following special allocations shall be made for any fiscal year of the
Company in the following order:

          (a) Minimum Gain Chargeback. If there is a decrease in the Company's
     "partnership minimum gain," as defined in and determined under Regulation
     Sections 1.704-2(b)(2) and 1.704-2(d), the minimum gain chargeback
     provisions of Regulation Section 1.704-2(f), which are hereby incorporated
     into this Agreement by this reference, shall be applied.

          (b) Member Minimum Gain Chargeback. If there is a decrease in any
     Member's share of "partner nonrecourse debt minimum gain," as defined in
     and determined under Regulation Section 1.704-2(i), the partner nonrecourse
     debt minimum gain chargeback provisions of Regulation Section
     1.704-2(i)(4), which are hereby incorporated into this Agreement by this
     reference, shall be applied.

          (c) Qualified Income Offset. In the event that any Member unexpectedly
     receives any adjustments, allocations, or distributions described in
     Regulation Sections 1.704-1(b)(2)(ii)(d)(4), (5) or (6), items of Company
     income and gain shall be specially allocated to such Member in accordance
     with Regulation Section 1.704-(1)(b)(2)(ii)(d).

          (d) Nonrecourse Deductions. "Nonrecourse deductions," as defined in
     and determined under Regulation Sections 1.704-2(b)(1) and (c), shall be
     allocated among the Members in accordance with the allocation pursuant to
     Section 3.1(a)(ii).

          (e) Member Nonrecourse Deductions. "Partner nonrecourse deductions,"
     as defined in and determined under Regulation Sections 1.704-2(i)(1) and
     (2), shall be specially allocated among the Members in accordance with
     Regulation Section 1.704-2(i).Curative Allocations

     Section 3.3. Corrective Allocations. The allocations set forth in Section
3.2 are intended to comply with certain regulatory requirements under Code
Section 704(b). The Members intend that, to the extent possible, all allocations
made pursuant to such Sections will, over the term of the Company, be offset
either with other allocations pursuant to Section 3.2 or with special
allocations of other items of Company income, gain, loss, or deduction pursuant
to this Section 3.3. Accordingly, the Manager is hereby authorized and directed
to make offsetting allocations of Company income, gain, loss or deduction under
this Section 3.3 in whatever manner the Manager determines is

                                       15

<PAGE>

appropriate so that, after such offsetting special allocations are made (and
taking into account the reasonably anticipated future allocations of income and
gain pursuant to Sections 3.2(a) and 3.2(b), the Capital Accounts of the Members
are, to the extent possible, equal to the Capital Accounts each would have if
the provisions of Section 3.2 were not contained in this Agreement and all
income, gain, loss and deduction of the Company were instead allocated pursuant
to Section 3.1.

     Section 3.4. Other Allocation Rules.

          (a) General. Except as otherwise provided in this Agreement, all items
     of Company income, gain, loss, deduction, credit, and any other allocations
     not otherwise provided for shall be divided among the Members in accordance
     with their Percentage Interests, or as otherwise may be required under the
     Code and the Regulations thereunder.

     Section 3.5. Allocation of Excess Nonrecourse Liabilities. Solely for
purposes of determining a Member's proportionate share of the "excess
nonrecourse liabilities" of the Company within the meaning of Regulation Section
1.752-3(a)(3), the Members' interests in the Company's profits shall be their
respective Percentage Interests.

     Section 3.6. Allocations in Connection with Varying Interests. If, during a
Company fiscal year, there is (i) a permitted transfer of all or a part of a
Member's interest in the Company, or (ii) the admission or withdrawal of a
Member, net profit, net loss, each item thereof, and all other tax items of the
Company for such fiscal year shall be divided and allocated among the Members by
taking into account their varying interests during such fiscal year in
accordance with Code Section 706(d) and using any conventions permitted by law
and selected by the Manager.

     Section 3.7. Determination of Net Profit or Loss. The net profit or net
loss of the Company, for each fiscal year or other period, shall be an amount
equal to the Company's taxable income or loss for such period, determined in
accordance with Code Section 703(a) (and, for this purpose, all items of income,
gain, loss or deduction required to be stated separately pursuant to Code
Section 703(a)(1) shall be included in taxable income or loss), subject to the
following adjustments:

          (a) Any income of the Company that is exempt from federal income tax
     shall be added to such taxable income or loss;

          (b) Any expenditures of the Company described in Code Section
     705(a)(2)(B) or treated as such pursuant to Regulation Section
     1.704-1(b)(2)(iv)(i) shall be subtracted from such taxable income or loss;

          (c) In lieu of the depreciation, amortization and other cost recovery
     deductions taken into account in computing such taxable income or loss,
     Depreciation for such fiscal year shall be taken into account;

          (d) If the Book Value of any Company asset is adjusted pursuant to
     Section 2.1(b), the amount of such adjustment shall be taken into account
     as gain or

                                       16

<PAGE>

     loss from the disposition of such asset for purposes of computing net
     profit or loss;

          (e) Gain or loss resulting from the disposition of any Company asset
     with respect to which gain or loss is recognized for federal income tax
     purposes shall be computed with reference to the Book Value of the asset
     disposed of, notwithstanding that the adjusted tax basis of such asset
     differs from the Book Value of such asset; and

          (f) any items that are specially allocated pursuant to Section 3.2 or
     Section 3.3 shall not be taken into account in computing the Company's net
     profit or net loss.

     Section 3.8. Mandatory Tax Allocations Under Code Section 704(c).

          (a) In accordance with Code Section 704(c) and Regulation Section
     1.704-3, income, gain, loss and deduction with respect to any property
     contributed to the capital of the Company shall, solely for tax purposes,
     be allocated among the Members so as to take account of any variation
     between the adjusted basis of such property to the Company for federal
     income tax purposes and its Book Value. Prior to the contribution of any
     property to the Company that has a fair market value that differs from its
     adjusted tax basis in the hands of the contributing Member on the date of
     contribution, the contributing Member and the Manager shall agree upon the
     allocation method to be applied with respect to that property under
     Regulation Section 1.704-3, which allocation method shall be set forth on
     attached Schedule 2, as amended from time to time. The same procedure shall
     apply to any revaluation of Company property as permitted under Regulation
     Section 1.704-1(b)(2)(iv)(f).

          (b) Allocations pursuant to this Section 3.8 are solely for purposes
     of federal, state, and local income and franchise taxes and shall not
     affect, or in any way be taken into account in computing, any Member's
     Capital Account or share of net profit, net loss, or other items as
     computed for book purposes, or distributions pursuant to any provision of
     this Agreement.

                                    ARTICLE 4
                                  DISTRIBUTIONS

     Section 4.1. Distributable Cash

          (a) Mandatory Distributions. Subject to Clearwire's satisfaction of
     its debt obligations arising under the Indenture, to the extent
     Distributable Cash is available therefor, the Company shall make a
     distribution to the Members, on or before April 1st of each year pro-rata
     in accordance with their Percentage Interests, if any, shall be distributed
     to the Members in an amount equal to the product of (i) the maximum
     combined federal and state income tax rate applicable to any Member in
     effect for such year and (ii) the taxable income of the Company in the
     immediately preceding year.

          (b) Optional Distributions. Subject to Sections 4.2 and 6.3,
     Distributable

                                       17

<PAGE>

     Cash shall be distributed to the Members in proportion to their respective
     Percentage Interests quarterly in arrears, provided that the Company shall
     not be required to make any distribution to any Member if such distribution
     would violate the Act or other applicable law.

     Section 4.2. Liquidating Distributions.

     Notwithstanding Section 4.1, distributions to the Members of cash or
property in connection with a dissolution of the Company shall be made, as
provided in Section 9.3(d)(ii).

     Section 4.3. Other Distributions.

     No Member shall be entitled to receive any other distribution from the
Company without the consent of the Manager or as otherwise provided in this
Article 4 and Section 9.3(d).

                                    ARTICLE 5
                             ACCOUNTING AND RECORDS

     Section 5.1. Fiscal Year

     The fiscal year of the Company shall be the year ending December 31.

     Section 5.2. Method of Accounting

     Unless otherwise provided herein, the Company books of account shall be
maintained in accordance with GAAP; provided that for purposes of making
allocations and distributions hereunder (including distributions upon
dissolution of the Company in accordance with Capital Account balances as
required by Section 9.3(d)(ii)), the relevant items shall be determined in
accordance with federal income tax accounting principles utilizing the accrual
method of accounting, with adjustments required by Treasury Regulation Section
1.704-1(b) to properly maintain Capital Accounts. Each Member acknowledges that
the Capital Account balances of the Members for the purposes described in the
preceding sentence are not computed in accordance with GAAP and accordingly that
any GAAP financial statements for the Company may not reflect their true Capital
Account balances.

     Section 5.3. Books and Records; Inspection

          (a) Books of Account and Records. Proper and complete records and
     books of accounts of the Company business for tax and financial purposes,
     including all such transactions and other matters as are usually entered
     into records and books of account maintained by Persons engaged in
     businesses of like character or as are required by law, shall be kept by
     the Company at the Company's principal office and place of business. The
     Manager may delegate to a third party or any Member the duty to maintain
     and oversee the preparation and maintenance of such records and books of
     account. Books and records maintained for financial purposes shall be

                                       18

<PAGE>

     maintained in accordance with GAAP, and books and records maintained for
     tax purposes shall be maintained in accordance with the Code and applicable
     Treasury Regulations.

          (b) Inspection. All records and documents described in Section 5.3(a)
     shall be open to inspection at the Company's primary offices and copying by
     any of the Members at any reasonable time during business hours. Any Member
     wishing to inspect such records shall provide at least five (5) business
     days advance written notice prior to inspection, and any and all copying
     and expenses related to the inspection shall be borne by the inspecting
     Member.

     Section 5.4. Financial Statements

     Within ninety (90) days after the end of each fiscal year, and forty-five
(45) days after the end of each calendar quarter, the Manager shall cause to be
furnished to each Information Rights Member financial statements with respect to
such fiscal year or quarter of the Company, consisting of (i) a balance sheet
showing the Company's financial position as of the end of such fiscal year or
quarter, (ii) supporting profit and loss statements, (iii) a statement of cash
flows for such year or quarter, and (iv) Members' Capital Accounts.

     Section 5.5. Operations Reporting.

     Within thirty (30) days following the end of each month, the Manager shall
cause to be furnished to each Information Rights Member the operational
information described on Schedule 5.5 with respect of the Company's operations
during the previous month.

     Section 5.6. Taxation

          (a) Status of the Company. The Members acknowledge that this Agreement
     creates a partnership for federal income tax purposes. Furthermore, the
     Members hereby agree not to elect to be excluded from the application of
     Subchapter K of Chapter 1 of Subtitle A of the Code or any similar state
     statute.

          (b) Tax Elections and Reporting.

               (i) Generally. The Company shall make the following elections and
          take the following positions under United States income tax laws and
          Treasury Regulations and any similar state laws and regulations: (A)
          adopt the year ending December 31 as the annual accounting period
          (unless otherwise required by the Code and Treasury Regulations); (B)
          adopt the accrual method of accounting; (C) insofar as permissible,
          report the Company's tax attributes and results using principles
          consistent with those assumed in connection with entering into this
          Agreement; and (D) have the Company treated as a partnership for
          federal income tax purposes in a manner consistent with Treasury
          Regulations Section 301.7701-1, et seq.

                                       19

<PAGE>

               (ii) Code Section 754 Election. The Manager shall, upon the
          written request of any Member, cause the Company to file an election
          under Code section 754 and the Treasury Regulations thereunder to
          adjust the basis of the Company's assets under Code section 734(b) or
          743(b) and a corresponding election under the applicable sections of
          state and local law.

          (c) Company Tax Returns. The Tax Matters Partner will prepare or cause
     to be prepared the domestic and foreign tax returns and information returns
     for the Company at no charge to the Company, except for all reasonable
     out-of-pocket expenses (including accounting fees, if any). Any Member may,
     at its own expense, engage a third party to review the tax returns and
     information returns prepared by the Tax Matters Partner pursuant to the
     preceding sentence. Any and all other tax returns shall be prepared in a
     manner directed by the Tax Matters Partner consistent with the terms of
     this Agreement. Each Member shall provide such information, if any, as may
     be reasonably requested by the Company for purposes of preparing such tax
     and information returns including, without limitation, the adjusted tax
     basis for Federal income tax purposes of the assets contributed by any
     Members pursuant to Section 2.2(a). The Tax Matters Partner shall use its
     best efforts to (i) cause draft copies of all tax returns to be submitted
     to each Member not fewer than thirty (30) days before the filing thereof
     and within one hundred twenty (120) days after the end of each tax year of
     the Company, (ii) cause copies of all final tax returns to be delivered to
     each Member within one hundred eighty (180) days after the end of each tax
     year of the Company, and (iii) deliver to each Member within ninety (90)
     days after the end of each tax year any additional information in the
     possession of the Company that the Members may require for the preparation
     of their own income tax returns.

          (d) Tax Audits. Clearwire shall be the "tax matters partner," as that
     term is defined in Code section 6231(a)(7) (the "Tax Matters Partner") with
     all of the rights, duties and powers provided for in sections 6221 through
     6234, inclusive, of the Code, provided that the Tax Matters Partner shall
     not pay or agree to pay any audit assessment, or any amount in settlement
     or compromise of any litigation, in respect of income tax liability of the
     Members attributable to the Interests in the Company, in excess of $200,000
     in any one instance or series of related instances, unless approved by the
     Manager. The Tax Matters Partner, as an authorized representative of the
     Company, shall direct the defense of any tax claims made by the Internal
     Revenue Service or any other taxing jurisdiction to the extent that such
     claims relate to adjustment of Company items at the Company level and, in
     connection therewith, shall retain and cause the Company to pay the fees
     and expenses of counsel and other advisors chosen by the Tax Matters
     Partner. The Tax Matters Partner shall also be responsible for timely
     filing for all elections made by the Company. The Tax Matters Partner shall
     deliver to each Member and the Manager a semi-annual report on the status
     of all tax audits and open tax years relating to the Company, and shall
     consult with and keep all Members and the Manager advised of all
     significant developments in such matters coming to the attention of the Tax
     Matters Partner. All reasonable expenses of the Tax Matters

                                       20
<PAGE>

     Partner and its Affiliates (including reasonable internal time charges and
     reasonable disbursements) and other reasonable fees and expenses in
     connection with such defense shall be borne by the Company. The provisions
     of Section 10.1 and 10.2 shall apply to any acts or omissions of the Tax
     Matters Partner (other than failure to comply with the express terms of
     this Agreement) while acting in that capacity. Except as provided in
     Article 10, neither the Tax Matters Partner nor the Company shall be liable
     for any additional tax, interest or penalties payable by a Member or any
     costs of separate counsel chosen by such Member to represent the Member
     with respect to any aspect of such challenge. The Company shall indemnify
     and reimburse the tax matters partner for all reasonable expenses,
     including legal and accounting fees, claims, liabilities, losses and
     damages, incurred in connection with any administrative or judicial
     proceeding with respect to the tax liability of the Members attributable to
     the Company. The payment of all such expenses shall be made before any
     Distributions are made to Members (and such expenses shall be taken into
     consideration for purposes of determining Distributable Cash) or any
     discretionary Reserves are set aside by the Manager. Neither the tax
     matters partner nor any Member shall have any obligation to provide funds
     for such purpose. The provisions for exculpation and indemnification of the
     various Persons set forth in Sections and shall be fully applicable to any
     Member acting as tax matters partner for the Company. With respect to State
     of Hawaii income taxes, the Tax Matters Partner will work with the Hawaiian
     Member to establish a structure so as to ensure that the economic benefits
     therefrom to such Parties are realized in a manner that is as tax- and
     accounting-efficient to such Parties as possible; provided, however that
     such structure does not negatively affect the federal or other states
     income taxes to be paid by any Member.

     Section 5.7. Internal Control Over Financial Reporting

     In consideration of the financial support provided to the Company by the
Members, the Company agrees to promptly establish and thereafter maintain
policies and procedures regarding internal control over financial reporting that
will enable the Members or their Affiliates to comply with the requirements of
Section 404 of the Sarbanes-Oxley Act of 2002 (the "Sarbanes-Oxley Act") and the
rules promulgated from time to time thereunder by the SEC to the extent that
such members or Affiliates are required to consolidate the Company pursuant to
FASB Interpretation No. 46 or are otherwise obligated to evaluate and report on
the effectiveness of the Company's internal control over financial reporting.
Those Members and their Affiliates that are subject to said Section 404 are
referred to collectively as the "Reporting Entities." The Company will (i)
furnish the Reporting Entities with copies of all written policies and
procedures established and maintained by the Company pursuant to this paragraph,
(ii) provide the Reporting Entities (and their independent auditors) with access
to the Company's financial books and records, and to the Company's management
and independent auditors, to the extent necessary to enable the Reporting
Entities to evaluate the adequacy of, and to monitor the Company's compliance
with, such policies and procedures, and otherwise cooperate with them to the
extent reasonably requested, and (iii) promptly adopt any new policies and
procedures regarding internal control over financial reporting, and promptly
implement any remedial measures with respect to any such existing policies

                                       21

<PAGE>

and procedures, as the Reporting Entities may reasonably request to enable them
to comply with the requirements of Section 404 of the Sarbanes-Oxley Act and the
rules promulgated from time to time thereunder by the SEC and thereby to
conclude and assert that the internal control over financial reporting of the
Company is effective.

                                    ARTICLE 6
                                   MANAGEMENT

     Section 6.1. Manager

     Clearwire (in such capacity, the "Manager") shall have full power and
authority to direct and control the property, business and affairs of the
Company, except with respect to those matters specifically made subject to the
approval requirements of Sections 6.3 and 6.4, and subject to the right of the
Manager to delegate such power and authority to Persons responsible for
day-to-day operation of the Company (it being understood that authority to
undertake Significant Events or Significant Matters prior to approval as
provided in Section 6.3(b) shall not be so delegated). Subject to the foregoing,
in addition to the powers and authorities by this Agreement expressly conferred
upon it, the Manager may exercise all such powers of the Company and do all such
lawful acts and things as are not by statute or by this Agreement directed or
required to be exercised or done by the Members. Except as otherwise provided in
this Agreement, no Member shall have any right or authority to take any action
on behalf of the Company with respect to third parties or to bind the Company.
The Company shall reimburse Clearwire for its direct costs and expenses, and for
an allocable share of its indirect costs and expenses, incurred in its capacity
as Manager, including but not limited to the compensation paid to its employees
to the extent allocable to time spent by them on the business and affairs of the
Company.

     Section 6.2. Meeting Requirements

          (a) Regular Meetings. The Manager shall hold a meeting of the Members
     at such place agreed to by a Majority in Interest on such dates and at such
     times as are established by the consent of a Majority in Interest.

          (b) Special Meetings. A special meeting of the Members shall be held
     at the request of the Manager. The location of such meeting shall be at
     such place reasonably agreed to by a Majority in Interest.

          (c) Telephonic Meetings. Any meeting of the Members may be held by
     conference telephone call or through similar communications equipment by
     means of which all persons participating in the meeting can hear and be
     heard by each other. Participation in a telephonic meeting held pursuant to
     this Section 6.2(c) shall constitute presence in person at such meeting.

          (d) Notices. Notices of regular meetings and special meetings may be
     given by the Manager, as the case may be, and shall state the date, hour
     and purpose of the meeting. All such notices shall be accompanied by an
     agenda for the meetings, as well as (to the extent practicable) the texts
     of all resolutions proposed to be adopted at such

                                       22

<PAGE>

     meetings. No item may be discussed if not on the agenda unless a quorum is
     present and the Members present waive notice of the additional item(s).
     Notice of a regular or special meeting shall be given by facsimile,
     confirmed by certified mail, return receipt requested not less than 14 days
     (in the case of a regular meeting) or 72 hours (in the case of a special
     meeting) before the date of the meeting to each Member at the facsimile
     number and address provided by the Member to the Company from time to time.
     Any Member may waive, as to such Member only, in writing, the requirements
     for notice before or after a meeting or by attending such meeting and not
     protesting any lack of notice. Notwithstanding any other term hereof, no
     regular or special meeting may occur without notice therefor being
     delivered or waived in accordance with this Section 6.2(d).

          (e) Quorum. At each meeting of the Members, the presence in person or
     by telephone of Members holding a Majority in Interest shall be necessary
     to constitute a quorum for the transaction of business.

          (f) Written Consents. Subject at all times to Section 6.3 (including
     without limitation the provisions relating to Significant Matters contained
     therein), any action required or permitted to be taken at a meeting of the
     Members may be taken without a meeting, but upon the requisite notice as
     provided in paragraph (d) above, if the requisite Members consent thereto
     in writing, and if a complete and correct copy of such consent is delivered
     to all the Members following the execution of any such consent.

     Section 6.3. Actions Requiring Majority Approval.

          (a) The following actions require approval by a Majority in Interest:

               (i) any Significant Event or Significant Matter; and

               (ii) any other matter that a Majority in Interest or the Manager
          determines shall require majority approval.

          "Significant Event" means any of the following:

               (1) Any Significant Matter;

               (2) The adoption or amendment of any operating or capital budget,
          subsequent business plan, marketing plan, financial plan, operational
          plan, technical plan, communication plan, strategic plan or any other
          material plan, policy, or strategy of the Company;

               (3) The hiring or firing of the manager(s) of the operations of
          the Company and the setting of compensation of such Person(s);

               (4) The hiring or firing of the key personnel of the Company;

               (5) The approval or amendment of material contracts;

               (6) The commencement or prosecution of any material claim in a

                                       23

<PAGE>

          judicial proceeding or arbitration forum, or the settlement of any
          such claim against the Company;

               (7) Any transaction or series of transactions or other activities
          which, if carried out, could reasonably be expected to include in the
          range of possible results the financial performance of the Company
          materially diverging from the then current budget or business or other
          plan of the Company;

               (8) Any material change in the manner in which the Business is
          conducted; and

               (9) Any agreement, arrangement or understanding, written or oral,
          between the Company, on the one hand, and any Affiliates thereof, on
          the other hand.

          "Significant Matter" means any of the following:

               (1) The sale, transfer, assignment, pledge or other disposition
          by the Company of any FCC License or otherwise any material portion of
          the assets of the Company;

               (2) The merger, combination or consolidation of the Company with
          or into any other entity (regardless of whether the Company is the
          surviving entity in any such merger, combination or consolidation),
          the acquisition of any business by the Company, the formation of any
          partnership or joint venture involving the Company, or the
          liquidation, dissolution or winding up of the Company;

               (3) Any offering or issuance of additional Units, or any other
          securities or ownership interests in, the Company, including, without
          limitation, warrants, options or other rights convertible into or
          exchangeable for Units, or other securities or ownership interests in,
          the Company;

               (4) The repurchase by the Company of any Units other than as
          provided herein;

               (5) The payment by the Company of any distribution, direct or
          indirect, on or on account of any Units, now or hereafter outstanding,
          unless such distribution is being paid as expressly provided by any
          Section of this Agreement other than Section 4.2.

               (6) Except as otherwise provided in Section 11.2, the
          authorization or adoption of any amendment to the certificate of
          formation, limited liability company agreement, or any other
          constituent document of the Company;

               (7) The incurrence by the Company, whether directly or
          indirectly, of any indebtedness for borrowed money or capital leases
          not in the ordinary course of business, other than indebtedness
          existing on the date hereof;

                                       24

<PAGE>

               (8) The making of, or commitment to make, by the Company of any
          material capital expenditure not in the ordinary course of business,
          except as provided in the then current budget or business or other
          plan of the Company;

               (10) The acceptance of additional capital contributions or
          approval of calls therefor;

               (11) The hiring or firing of the independent certified public
          accountants (if other than one of the Big Four accounting firms) or
          other tax advisor for the Company, or the making of any tax election
          on behalf of the Company; and

               (12) The entering into any contract, agreement or understanding
          to do any of the foregoing.

          (b) Approval Requirements. The Company shall provide each Member with
     adequate notice (in light of the time frame in which approval is sought) of
     the substance of any matter requiring majority approval in order to afford
     such Members sufficient time to review such matter and the Company's
     analysis thereof.

          (c) Certain Rights. Notwithstanding any other provision of this
     Agreement to the contrary, the Manager shall have unfettered use of all
     facilities and equipment of the Company and shall: (i) control the daily
     operations of the Company; (ii) determine and carry out the policy
     decisions of the Company, including preparing and filing applications with
     the FCC; (iii) employ, supervise, and dismiss employees of the Company; and
     (iv) be responsible for overseeing the financial operations of the Company,
     including payment of financing obligations of the Company arising out of
     operations and receiving on behalf of the Company moneys and profits from
     the operation of the Company's facilities.

     Section 6.4. Actions by Members

     Notwithstanding any other provision in this Agreement to the contrary, the
following actions require the prior written approval by a Majority in Interest:
(i) change in permitted activities of the Company in accordance with Section
1.4, (ii) dissolution of the Company in accordance with Section 9.2(a)(ii), and
(iii) amendment of this Agreement in accordance with Section 11.2.

     Section 6.5. Confidentiality

          (a) Each Member shall, and shall cause each of its Affiliates, and
     each of its and their respective partners, members, managers, shareholders,
     directors, officers, employees and agents (collectively, "Agents") to, keep
     secret and retain in strictest confidence, and not use for any purpose
     except as contemplated by this Agreement, any and all Confidential
     Information relating to the Company or any Member and shall not disclose
     such information, and shall cause its Agents not to disclose such
     information, to anyone except (i) such Member's Affiliates or Agents who
     have a need to know such information in connection with the matters
     contemplated by this Agreement, and (ii) other Persons (such as lenders to
     a

                                       25

<PAGE>

     Member) who have a bona fide business reason for obtaining such information
     in connection with their dealings with such Member and who agree in writing
     to keep in confidence all Confidential Information in accordance with the
     terms of this Section 6.5. The obligations under this Section 6.5 shall
     survive the termination of this Agreement for a period of three years (or,
     if earlier, as to any Person, three years following the date such Person
     ceases to be a Member). The foregoing provisions of this Section 6.5 were
     negotiated in good faith by the parties hereto and the parties hereto agree
     that such provisions are reasonable and are not more restrictive than is
     necessary to protect the legitimate interests of the Members and the
     Company.

          (b) The obligations set forth in Section 6.5(a) shall not apply with
     respect to Confidential Information that (i) is or becomes generally
     available to the public other than as a result of disclosure by the
     receiving party or its Agents, (ii) was in or comes into the possession of
     the receiving party from a source not known by the receiving party after
     reasonable inquiry to be bound by a confidentiality agreement with respect
     to the information in question, (iii) is required to be disclosed by the
     receiving party pursuant to Law or (iv) is required to be disclosed in the
     receiving party's financial statements prepared in accordance with GAAP.

          (c) To the fullest extent permitted by law, if a Member or any of its
     Affiliates or Agents breaches or threatens to commit a breach of this
     Section 6.5, the other Members and the Company shall have the right to have
     this Section 6.5 specifically enforced by any court having jurisdiction, it
     being acknowledged and agreed that money damages will not provide an
     adequate remedy to such other Members or the Company. Nothing in this
     Section 6.5 shall be construed to limit the right of any Member or the
     Company to collect money damages in the event of a breach of this Section
     6.5, nor to limit the right of any Member to report the financial condition
     and results of operations of the Company to its shareholders, bondholders
     or to regulatory authorities to the extent required by law, regulation or
     the terms of existing instruments.

          (d) Anything else in this Agreement notwithstanding, each Member shall
     have the right to disclose any information, including Confidential
     Information of any other Member or such other Member's Affiliate(s), in any
     filing with any regulatory agency, court or other Governmental Authority to
     the extent that the disclosing Member determines in good faith that it is
     required by Law, provided that any such disclosure shall be as limited in
     scope as possible and shall only be made after giving the other Member as
     much notice as practicable of such required disclosure and an opportunity
     to contest such disclosure if possible.

          (e) Clearwire may disclose this Agreement to its Affiliates, strategic
     partners, actual or potential investors, lenders, acquirers, merger
     partners, and others whom Clearwire deems in good faith to have a need to
     know such information for purposes of pursuing a transaction or business
     relationship with Clearwire. Hawaiian Member may disclose this Agreement
     and any Confidential Information to any actual or potential bona fide
     purchaser of any of the Hawaiian Member's Membership Interests provided
     that prior to any such disclosure, (i) it has notified

                                       26

<PAGE>

     the Manager at least five (5) Business Days, and (ii) prior to it receives
     from such person an executed confidentiality agreement in form and
     substance reasonably satisfactory to the Manager.

     Section 6.6. Non-Competition.

          (a) The Members and their Affiliates may engage in or possess an
     interest in other business ventures in which the Company is not a party,
     and may engage in any other activities, independently or with others in
     which the Company is not a party. Notwithstanding the foregoing, the
     Members and their Affiliates shall not acquire any interests in, act on
     behalf of, either as an officer, director, employee or consultant, any
     Person involved in the provision, sale, operation or development of
     wireless communications or broadband services or the ownership, leasing or
     rights to use wireless spectrum for the delivery of wireless broadband
     services in the State of Hawaii, including without limitation, the
     ownership and leasing of wireless spectrum in the 2.5 to 2.69 GHz range;
     provided, however that foregoing restrictions shall not prohibit the
     Members from owning a minority interest of not more than 5% of a company
     headquartered in the State of Hawaii whose equities are publicly traded on
     a nationally recognized stock exchange or on the NASDAQ National Market
     System.. Recognizing Clearwire's expertise in acquiring wireless spectrum
     and the Hawaiian Member's business relationships in Hawaii, Clearwire and
     the Hawaiian Member will work together to support the Company's acquisition
     of additional spectrum in Hawaii. The Hawaiian Member will use its
     commercially reasonable efforts to support the Company's initiatives in
     this regards by undertaking such actions as the Manager may reasonably
     request provided that such actions (i) do not involve material expense or
     dedication of material resources by Hawaiian Member unless reimbursed by
     the Company, and (ii) do not impose any additional material restrictions
     beyond those set forth in this Agreement on Hawaiian Member's or its
     Affiliate's respective activities. To that end, the Company and the Members
     will determine in good faith what, specifically, the Hawaiian Member can do
     to support the Company's efforts to acquire additional spectrum to benefit
     the Company.

          (b) In the event that a Member is presented with an opportunity to
     engage in a business venture in the communications and broad band industry
     (the "Wireless Opportunity"), such Member (the "Presenting Member") shall,
     whether or not it desires to accept the Wireless Opportunity, present it in
     writing to the Manager and the other Members as an opportunity for the
     Company. If a Majority in Interest decides not to pursue the Wireless
     Opportunity, then, so long as pursuing the Wireless Opportunity would not
     breach the provisions of Section 6.6(a), the Presenting Member shall be
     free to pursue the Wireless Opportunity on the same terms and conditions
     that were presented to the Company and neither the Company nor any of the
     other Members shall have any rights or interest in the Wireless
     Opportunity. If a Majority in Interest decides to pursue the Wireless
     Opportunity, then the Presenting Member shall take all efforts necessary to
     transfer such opportunity to the Company.

     Section 6.7. Duties. To the extent that, at law or in equity, any Member or
any

                                       27
<PAGE>

Affiliate of a Member, or any member, manager, partner, director, officer,
stockholder, employee, agent or representative of a Member or such Affiliate,
would have duties (including fiduciary duties) and liabilities to the Company or
the Members different from or in addition to those provided in this Agreement,
all rights of the other Members and the Company arising out of such other duties
and liabilities are hereby waived and no such Person shall be liable to the
Company or to any Member for its good faith reliance on the provisions of this
Agreement.

     Section 6.8. Dispute Resolution

          (a) If a dispute arises out of this Agreement or the Transactions, the
     parties shall make a good faith effort to resolve such dispute promptly. If
     the parties are unable to resolve the dispute within thirty (30) days of
     notice by one Member to the other Members and Manager of the dispute, then
     any Member (the "Initiating Member") may initiate arbitration proceedings
     against the other Member (the "Remaining Members"). The dispute shall then
     be settled by arbitration in accordance with the CPR Institute for Dispute
     Resolution Rules for Non-Administered Arbitration in effect on the date
     hereof, by a panel of three arbitrators. The Initiating Member shall select
     one of three arbitrators, the Remaining Members shall select a second
     arbitrator, and these two arbitrators shall select the third arbitrator.
     The arbitrators shall be governed by the United States Arbitration Act, 9
     U.S.C. Sections 1-16, and judgment upon the award rendered by the
     arbitrators may be entered by any court having jurisdiction thereof. The
     place of arbitration shall be chosen by the three arbitrators. The parties
     agree that all communications and negotiations between the parties during
     the dispute resolution process, and any settlements agreed upon are
     confidential. The reasonable out-of-pocket costs (including reasonable
     attorneys' fees and expenses) of the prevailing party in any arbitration
     proceeding shall be paid by the other party. The arbitrators shall
     determine which party is the prevailing party for purposes of this
     paragraph, and shall include such determination in their award. If the
     arbitrators determine that neither party is the prevailing party for
     purposes of this paragraph, then each party shall bear its own costs and
     expenses, including attorneys' fees and expenses, and shall share equally
     the fees of the arbitrators.

                                    ARTICLE 7
                      TRANSFER OR ENCUMBRANCE OF INTERESTS

     Section 7.1. General Restriction on Transfer or Encumbrance.

     No Interest may be directly or indirectly assigned, sold, transferred or
otherwise disposed of, or pledged, hypothecated or otherwise encumbered, whether
voluntarily or involuntarily, in whole or in part (any such transaction being
referred to in this Article 7 as a "transfer"), except in accordance with the
terms of this Article 7, Article 11 hereof or as otherwise specifically provided
in this Agreement. Notwithstanding the foregoing, Clearwire may, at any time in
connection with other debt financing, pledge its Units, including any pledges
currently required under the Indenture. Further, this Article 7 shall not apply
to any transfers by Clearwire to any of its Affiliates, to any indirect
transfers

                                       28

<PAGE>

resulting from any change of control of Clearwire, or to any transfers by
Clearwire arising by operation of law.

     Section 7.2. Drag-Along Rights.

     In the event that Clearwire (together with its Affiliates) commits to
transfer 25% or more of its Units or Interests in the Company, in a bona fide
arm's-length transaction, or a series of related bona fide arm's length
transactions, to a person or entity that is not an Affiliate of Clearwire, then
Clearwire will provide notice (the "Drag Notice") to the other Members
identifying the Units or Interest to be sold and the price to be paid therefor.
Within ten (10) days of the Drag Notice, Clearwire shall have the ability to
require all other Members to transfer their pro rata shares of their Units or
Interests to the potential buyer at the same price and upon the same terms and
conditions as Clearwire is transferring its Units or Interest (the "Drag
Rights").

     Section 7.3. Tag-Along Rights.

     If Clearwire does not invoke its Drag Rights, within fifteen (15) days of
the Drag Notice, then any Member may, if it so chooses, participate with
Clearwire with respect to such transfer by providing written notice of its
intention to do so (the "Tag Notice"). Such Tag Notice shall constitute the
Member's irrevocable election to cause the transferee to purchase, at the same
price and upon the same terms and conditions as those received by the Clearwire,
a pro rata portion of the Member's Units or Interest in the Company and the
Units or Interest to be purchased from Clearwire shall be reduced accordingly.

     Section 7.4. Rights of First Refusal.

     If any Member other than Clearwire has received a bona fide, written,
binding offer and commitment (the "Offer") for the acquisition of any or all of
the Member's Units or Interest in the Company (the "Subject Company Interest"),
and the selling Member wishes to accept the Offer, then upon acceptance of the
Offer, the selling Member shall first provide Clearwire notice of the Offer,
which notice will identify the offeree and provide all of the material terms of
the offer, including the number of Units constituting the Subject Company
Interest, the purchase price of such Subject Company Interest and manner in
which the purchase price is to be paid. The notice shall constitute the selling
Member's binding offer to sell such Subject Company Interest to Clearwire on the
same terms. Clearwire shall have twenty (20) business days after delivery of
such notice to exercise its right to purchase all, but not less than all of, the
Subject Company Interest in the Company on the same terms and conditions as set
forth in the notice. If Clearwire does not elect to purchase the Subject
Interest within such twenty (20) day period, then the selling Member shall have
a period of ninety (90) days in which to close the sale of the Subject Company
Interest in accordance with the terms of the Offer. If such sale is not closed
within such 90 day period, then any proposed transfer by such Member of any
Units or Interest in the Company shall again be subject to this Section 7.4.

     Section 7.5. Substituted Members.

     Any transfer pursuant to Section 7.4 other than to Clearwire must be
approved in

                                       29
<PAGE>

writing by a Majority in Interest prior to any such transfer, such approval not
to be unreasonably withheld or delayed, and no such transferee shall become a
Member without such approval. Upon the admission of any such transferee as a
Member, the transferring Member shall be relieved of any obligation arising
under this Agreement subsequent to such transfer with respect to the Interest
being transferred, and if the transferring Member no longer holds any Interest,
the transferring Member shall be relieved of all obligations arising under this
Agreement except for its obligations under Section 6.5 or with respect to any
breach of this Agreement arising prior to such transfer.

     Section 7.6. Alternative Sale Rights.

          (a) In the event that Clearwire or any Clearwire Affiliate that
     directly or indirectly owns or controls Clearwire (each, a "Clearwire
     Seller") commits to sell all of its stock or membership interests or all or
     substantially all of its assets, in a bona fide arm's-length transaction or
     a series of related bona fide arm's length transactions (an "Alternative
     Transaction") to a Person that is not an Affiliate of the Clearwire Seller,
     then the Clearwire Seller will have the option, by providing written notice
     (the "Alternative Rights Notice") to the other Members, to require all
     other Members (each, a "Selling Member") to sell their Interest to the
     Clearwire Seller in exchange for a purchase price equal to the Fair Market
     Value of the Selling Member's Interest in the Company (the "Alternative
     Transaction Purchase Price"). For purposes of this Section 7.6, "Fair
     Market Value" shall be determined as of the Adjustment Date by the Neutral
     Bank, which determination shall be conclusive and binding on all parties.

          (b) If the consideration being received by the Clearwire Seller in the
     Alternative Transaction consists of securities and/or other noncash assets,
     (i) such securities and/or other noncash assets shall be deemed to have a
     Fair Market Value for the purposes of this Section 7.6 equal to the value
     established for such securities and/or other noncash assets in the
     Alternative Transaction, and (ii) to satisfy the Alternative Transaction
     Purchase Price, in lieu of paying cash, the Clearwire Seller shall have the
     option to deliver to each Selling Member a portion of such securities
     and/or other noncash assets received in the Alternative Transaction with a
     Fair Market Value equal to the Alternative Transaction Purchase Price
     payable to such Selling Member. Upon any election by the Clearwire Seller
     under this subsection (b), each Selling Member shall be required to enter
     into any agreements contemplated in the Alternative Transaction to be
     entered into by the recipients of securities and/or other noncash assets in
     such Alternative Transactions.

     Section 7.7. Invalid Transfers Void. Any purported transfer of an Interest
or any part thereof not in compliance with the foregoing provisions of this
Article 7 shall be void and of no force or effect and the transferring Member
shall be liable to the other Members and the Company for all liabilities,
obligations, damages, losses, costs and expenses (including but not limited to
reasonable attorneys' fees and court costs) arising out of such noncomplying
transfer.

     Section 7.8. No Change of Control. Neither the Hawaiian Member nor any of

                                       30

<PAGE>

its interest holders shall take any action or fail to take any action that could
result in a change of control of the Hawaiian Member, without the prior written
consent of Clearwire, which may be given or withheld in its discretion. A
"Change of Control" for the purposes of this Agreement shall mean (i) a sale of
all or substantially all of the assets of the Hawaiian Member or its interest
holders, as applicable; (ii) the transfer by the Hawaiian Member or its interest
holders, as applicable, by means of a merger, consolidation, reorganization,
recapitalization or otherwise, of more than 50% of the voting power of the
Hawaiian Member or its interest holders, as applicable; or (iii) the transfer by
the Hawaiian Member or its interest holders, whether contractually or otherwise,
of the right to appoint the manager or a majority of the board of directors of
the Hawaiian Member or its interest holders, as applicable, or the power to
director or cause the direction of the management and policies of the Hawaiian
Member or its interest holders.

     Section 7.9. Certain Determinations

     Except as provided in Section 7.6, Fair Market Value shall be determined in
the following manner:

          Within fifteen days after the delivery of the notice requiring such
          determination, the Members shall attempt in good faith to agree on the
          Fair Market Value, and if the parties fail within fifteen days
          thereafter to agree thereon, the Company and the Member shall attempt
          to reach agreement upon a qualified independent appraiser experienced
          in the valuation of closely held businesses and properties of the kind
          held by the Company. If the parties are unable to agree upon a single
          appraiser within thirty (30) days of the occurrence of the event
          requiring computation of a Fair Market Value, then either party shall
          be entitled to notify the other of such party's institution of a
          three-appraiser procedure. Within ten (10) days of such notice, each
          party shall appoint a qualified independent appraiser experienced in
          the valuation of closely held businesses and properties of the kind
          held by the Company. The two appraisers shall appoint a third
          similarly qualified appraiser; and each appraiser shall complete an
          appraisal within sixty (60) days of appointment of the first
          appraiser. The Fair Market Value shall be determined by the median
          appraisal. Each party shall bear the costs associated with the
          appraisers it selected, and the costs associated with the third
          appraiser (and any court costs), shall be split evenly between the
          Company and the Member, if applicable. If either party shall fail to
          appoint an appraiser within the allotted time period, or if either
          such appraiser shall fail to complete the appraisal within the
          allotted time period, the appraisal of the appraiser appointed by the
          other party shall be final and binding, and shall control the
          determination of the Fair Market Value.

                                    ARTICLE 8
               CERTAIN AGREEMENTS; REPRESENTATIONS AND WARRANTIES

                                       31

<PAGE>

     Section 8.1. Prohibited Actions. During the term of this Agreement, the
Company shall not take any action or omit to take an action if such action or
omission, as the case may be, would (i) cause the Company to be in violation of
FCC Law or any rule, regulation, practice, policy or opinion promulgated,
applied or followed by the FCC, or cause the Company or any Member or any
Affiliate thereof to be required to divest an Interest in the Company or asset
in order to comply with any such Law, or (ii) cause the Company or any Member or
any Affiliate thereof to be ineligible to participate in any auction, tender,
business combination or similar transaction.

     Section 8.2. Additional Covenants of the Members

          (a) The Company shall at all times (i) observe all corporate or
     limited liability company formalities, as the case may be, including the
     maintenance of current minute books, (ii) maintain, separate from any other
     Person, its own separate and distinct books of account, bank accounts and
     corporate or limited liability company records, (iii) maintain separate
     financial statements and cause its financial statements to be prepared and
     maintained in accordance with GAAP in a manner that indicates its assets
     and liabilities, (iv) pay all its liabilities out of its own funds
     (including the salaries of its employees), and (v) maintain an arm's-length
     relationship with its Affiliates.

          (b) No Member other than Clearwire shall (i) pledge its assets for the
     benefit of any other Person, (ii) commingle its assets with those of any
     other Person, (iii) assume or guarantee the liabilities or obligations of
     any other Person or otherwise hold out its credit as being available or
     able to satisfy the indebtedness, liabilities or obligations of any other
     Person, (iv) acquire obligations or securities of, or make loans or
     advances to, any of its Affiliates, (v) permit there to be a complete
     identity of its managers and officers with the managers and officers of any
     of its Affiliates, (vi) incur any indebtedness, liabilities or obligations
     relating to the operation of its business, or (vii) engage in any business
     activities other than holding and managing its Interests.

     Section 8.3. Representations and Warranties of the Members

     Each of Clearwire and Hawaiian Member represents and warrants to the other
that:

          (a) it is a corporation or limited liability company duly organized
     and subsisting in the jurisdiction of its organization;

          (b) it has all requisite power and authority and has taken all action
     necessary in order to execute and deliver this Agreement;

          (c) this Agreement has been duly executed and delivered by it and is a
     valid and binding agreement of it enforceable against it in accordance with
     its terms, subject to bankruptcy, insolvency, fraudulent transfer,
     reorganization, moratorium and similar laws of general applicability
     relating to or affecting creditors' rights and to general equity
     principles;

                                       32

<PAGE>

          (d) no notices, reports or other filings are required to be made by it
     with, nor are any consents, registrations, approvals, permits or
     authorizations required to be obtained by it from, any Governmental Entity,
     in connection with its execution and delivery of this Agreement, except
     those that have been made or obtained or that the failure to make or obtain
     are not, individually or in the aggregate, reasonably likely to (x) result
     in a material adverse effect on the Company or (y) prevent, materially
     delay or materially impair its ability to perform its obligations under
     this Agreement;

          (e) the execution, delivery and performance of this Agreement by it
     does not, and the consummation by it of the transactions contemplated
     hereby will not, constitute or result in (i) a breach or violation of, or a
     default under, its articles of organization, limited liability company
     agreement and other constitutive documents, (ii) a breach of or violation
     of or a default under, or the acceleration of any obligations of or the
     creation of a lien or encumbrance on its assets (with or without notice,
     lapse of time or both) pursuant to, any contracts binding upon it or any
     applicable law or governmental or non-governmental permit or license to
     which it is subject or (iii) any change in the rights or obligations of any
     party under any of such contracts to which it is a party, except, in the
     case of clause (ii) or (iii) above, for any breach, violation, default,
     acceleration, creation or change that, individually or in the aggregate, is
     not reasonably likely to (x) result in a material adverse effect on the
     Company or (y) prevent, materially delay or materially impair its ability
     to perform its obligations under this Agreement;

          (f) there is no (i) legal action, claim, proceeding, investigation or
     controversy pending or, to its knowledge, threatened against it, or (ii)
     judgment, order, award or consent decree outstanding against or affecting
     it, which in either event is reasonably likely to (x) result in a material
     adverse effect on the Company or (y) materially delay or materially impair
     its ability to perform its obligations under this Agreement; and

          (g) with respect to Clearwire, it has access to funds sufficient to
     perform its obligations under Section 2.2, and with respect to the Hawaiian
     Member, it has funds sufficient to perform its obligations under the
     Subscription Agreement.

     Section 8.4. Additional Representations and Warranties of Clearwire.
Clearwire has good and marketable title to the Clearwire Assets, free and clear
of all material liens and encumbrances, other than those liens and encumbrances
described in the Security Agreement and Pledge Agreement, each dated August 5,
2005, as amended, securing the obligations of Clearwire Corporation to the
holders of the Notes of the Company dated August 5, 2005 and February 16, 2006
as described in that certain Indenture dated August 5, 2005, as amended, between
Clearwire and the Bank of New York as the Trustee, as amended, ordinary course
business liabilities and liabilities relating directly to such Clearwire Assets
(e.g. lease payments), and such other liabilities that in the aggregate are not
material to the operation of the Clearwire Assets as currently operated. The
Company will assume all of the liabilities directly associated with the
Clearwire Assets.

                                       33

<PAGE>

     Section 8.5. Additional Representations and Warranties of Hawaiian Member.
Prior to the date of consummation of the transactions contemplated by Section
2.2, the Company has engaged in no business or operations and has no assets or
liabilities of any kind. There are no rights, agreements or arrangements
relating to the issuance of equity of the Company other than as contemplated by
the Subscription Agreement and this Agreement.

     Section 8.6. Representations and Warranties of the Company. Prior to the
date of consummation of the transactions contemplated by Section 2.2, the
Company has engaged in no business or operations.

                                    ARTICLE 9
                           DISSOLUTION AND TERMINATION

     Section 9.1. No Termination

     Except as expressly provided in this Agreement or as otherwise provided by
law, no Member shall have the right, and each Member hereby agrees not, to
dissolve, terminate or liquidate the Company, or to resign or withdraw as a
Member.

     Section 9.2. Events of Dissolution

     The Company shall be dissolved upon the first to occur of the following:

               (i) the agreement in writing of all of the Members to dissolve
          the Company, but only on the effective date of dissolution specified
          by the Members in such agreement; or

               (ii) the election by a Majority in Interest within ninety (90)
          days after the sale, exchange, condemnation or involuntary transfer of
          all or substantially all of the assets of the Company.

     Section 9.3. Procedures Upon Dissolution

          (a) General. In the event the Company dissolves it shall commence
     winding up pursuant to the appropriate provisions of the Act and the
     procedures set forth in this Section 9.3. Notwithstanding the dissolution
     of the Company, until the winding up of the Company's affairs is completed,
     the business of the Company and the affairs of the Members, as such, shall
     continue to be governed by this Agreement.

          (b) Control of Winding Up. The winding up of the Company shall be
     conducted under the direction of the Manager or such other Person as may be
     designated by a court of competent jurisdiction (herein sometimes referred
     to as the "Liquidator"); provided that any Member whose breach of this
     Agreement shall have caused the dissolution of the Company shall not
     participate in the control of the winding up of the Company; and provided
     further, that if the dissolution is caused by entry of a decree of judicial
     dissolution, the winding up shall be carried out in accordance with such
     decree.

                                       34

<PAGE>

          (c) Manner of Winding Up. The Company shall engage in no further
     business following dissolution other than necessary for the orderly winding
     up of business and distribution of assets. The Company's maintenance of
     offices shall not be deemed a continuation of business for purposes of this
     Section 9.3. Upon dissolution of the Company, the Liquidator shall, subject
     to Section 9.3(a), first attempt to distribute assets in kind if it can
     obtain the consent of a Majority in Interest and, to the extent necessary,
     the creditors of the Company. If such consent is not obtained, the
     Liquidator shall sell all of the Company's property in such manner and on
     such terms as it deems fit, consistent with its fiduciary responsibility
     and having due regard to the activity and condition of the relevant market
     and general financial and economic conditions. Except as otherwise provided
     in Section 9.3(d)(ii) each Member shall share net profits, net losses and
     other items after the dissolution of the Company and during the period of
     winding up in the same manner as described in Article 3.

          (d) Application of Assets. Upon dissolution of the Company, the
     Company's assets (which shall, after the sale or sales referenced in
     Section 9.3(c), consist of the proceeds thereof) shall be applied as
     follows:

               (i) Creditors. To creditors, including Members who are creditors,
          to the extent otherwise permitted by law, in satisfaction of
          liabilities of the Company (whether by payment or the reasonable
          provision for the payment thereof). Any reserves set up by the
          Liquidator may be paid over by the Liquidator to an escrow agent or
          trustee, to be held in escrow or trust for the purpose of paying any
          such contingent or unforeseen liabilities or obligations, and, at the
          expiration of such period as the Liquidator may deem advisable, such
          reserves shall be distributed to the Members or their assigns in the
          manner set forth in Section 9.3(d)(ii).

               (ii) Members. By the end of the tax year in which the liquidation
          occurs (or, if later, within ninety (90) days after the date of such
          liquidation), to the Members in proportion to the positive balances of
          their respective Capital Accounts, as determined after taking into
          account all Capital Account adjustments for the taxable year during
          which the liquidation occurs (other than those made pursuant to this
          Section 9.3(d)(ii)).

     Section 9.4. Termination

     Upon completion of the winding up of the Company and the distribution of
all Company assets, the Company's affairs shall terminate and the Members shall
cause to be executed and filed any and all documents required by the Act to
effect the termination of the Company.

                                   ARTICLE 10
                     SURVIVAL, LIABILITY AND INDEMNIFICATION

                                       35

<PAGE>

     Section 10.1. No Personal Liability

          (a) Except as otherwise provided by the Act, the debts, obligations
     and liabilities of the Company, whether arising in contract, tort or
     otherwise, shall be solely the debts, obligations and liabilities of the
     Company, and no Member or other Indemnified Party (as defined in paragraph
     (b) below) shall be obligated personally for any such debt, obligation or
     liability of the Company solely by reason of being a Indemnified Party.

          (b) No Member or Member's Affiliate, or any of their respective
     shareholders, directors, officers, employees, agents, members, managers, or
     partners (each, an "Indemnified Party") shall be liable, responsible or
     accountable in damages or otherwise to the Company or to any other
     Indemnified Party for any act or omission performed or made by a
     Indemnified Party in connection with the transactions contemplated hereby,
     whether for mistake of judgment or negligence or other action or inaction,
     unless such action or omission constitutes a breach of this Agreement,
     willful misconduct, gross negligence, bad faith or conduct violating
     Section 18-607 of the Act. Each Indemnified Party may consult with counsel,
     accountants and other experts in respect of the affairs of the Company and
     such Indemnified Party shall be fully protected and justified in any action
     or inaction which is taken in good faith in accordance with the advice or
     opinion of such counsel, accountants or other experts, provided that they
     shall have been selected with reasonable care.

          (c) The Company shall protect, indemnify and defend each Indemnified
     Party against, and hold each harmless from, (i) all claims, liabilities and
     expenses of whatever nature arising out of the conduct of the business of,
     or any other activities undertaken in connection with or by, the Company or
     the ownership and use of their respective properties and assets and (ii)
     any acts or omissions performed or made by a Member pursuant to this
     Agreement unless the Member's action or omission constituted a breach of
     this Agreement, constituted willful misconduct, gross negligence, bad faith
     or conduct violating Section 18-609 of the Act, or as a result of which
     action or omission such Member gained in fact a financial profit or other
     advantage to which such Member was not legally entitled. The
     indemnification authorized under this Section 10.1(c) shall include payment
     on demand (with appropriate evidence of the amounts claimed) of reasonable
     attorneys' fees and other expenses incurred in connection with, or in
     settlement of, any legal proceedings between the Indemnified Party and a
     third party and the removal of any Liens affecting any property of the
     Indemnified Party. Such indemnification rights shall be in addition to any
     and all rights, remedies and recourse to which any Indemnified Party shall
     be entitled, whether or not pursuant to the provisions of this Agreement,
     at law or in equity. The indemnities provided for in this Section 10.1(c)
     shall be recoverable only from the assets of the Company, and there shall
     be no recourse to any Member or other Person for the payment of such
     indemnities.

     Section 10.2. Survival; Exclusivity

                                       36

<PAGE>

     The representations and warranties made in this Agreement shall survive
until twelve (12) months and shall thereupon expire together with any right to
indemnification in respect thereof (except to the extent a written notice
asserting a claim for breach of any such representation or warranty and
describing such claim in reasonable detail shall have been given on or prior to
such date to the party which made such representation or warranty). Except with
respect to claims referred to in the immediately preceding sentence, the sole
and exclusive remedy of the parties for any breach or inaccuracy of any
representation or warranty contained in this Agreement, or any other claim
(whether or not alleging a breach of this Agreement) that arises out of the
facts and circumstances constituting such breach or inaccuracy, shall be the
indemnities provided in this Article 10. Subject to the provisions of Section
6.8, the sole and exclusive remedy in respect of a breach of this Agreement
(other than such a breach arising out of the gross negligence or willful
misconduct of the breaching party) shall be the indemnity provided in this
Article 10.

     Section 10.3. Procedures

          (a) The terms of this Section 10.3 shall apply to any claim (a
     "Claim") for indemnification under the terms of Sections 10.1. The
     Indemnified Party shall give prompt written notice of such Claim to the
     indemnifying party (the "Indemnifying Party") under the applicable Section,
     which party may assume the defense thereof, provided that any delay or
     failure to so notify the Indemnifying Party shall relieve the Indemnifying
     Party of its obligations hereunder only to the extent, if at all, that it
     is materially prejudiced by reason of such delay or failure. Any such
     notice shall (i) describe in reasonable detail the facts and circumstances
     with respect to the Claim being asserted and (ii) refer to this Article 10.
     The Indemnified Party shall have the right to approve any counsel selected
     by the Indemnifying Party and to approve the terms of any proposed
     settlement, such approval not to be unreasonably delayed or withheld
     (unless such settlement provides only, as to the Indemnified Party, the
     payment of money damages actually paid by the Indemnifying Party and a
     complete release of the Indemnified Party in respect of the Claim in
     question). Notwithstanding any of the foregoing to the contrary, the
     provisions of this Article 10 shall not be construed so as to provide for
     the indemnification of any Indemnified Party for any liability to the
     extent (but only to the extent) that such indemnification would be in
     violation of applicable law or that such liability may not be waived,
     modified or limited under applicable law, but shall be construed so as to
     effectuate the provisions of this Article 10 to the fullest extent
     permitted by law.

          (b) In the event that the Indemnifying Party undertakes the defense of
     any Claim, the Indemnifying Party will keep the Indemnified Party advised
     as to all material developments in connection with such Claim, including,
     but not limited to, promptly furnishing the Indemnified Party with copies
     of all material documents filed or served in connection therewith. The
     Indemnified Party shall provide reasonable assistance to the Indemnifying
     Party in the defense of the Claim.

          (c) In the event that the Indemnifying Party fails to assume the
     defense of

                                       37

<PAGE>

     any Claim within ten (10) business days after receiving written notice
     thereof, the Indemnified Party shall have the right, subject to the
     Indemnifying Party's right to assume the defense pursuant to the provisions
     of this Article 10, to undertake the defense, compromise or settlement of
     such Claim for the account of the Indemnifying Party. Unless and until the
     Indemnifying Party assumes the defense of any Claim, the Indemnifying Party
     shall advance to the Indemnified Party any of its reasonable attorneys'
     fees and other costs and expenses incurred in connection with the defense
     of any such Claim. Each Indemnified Party shall agree in writing prior to
     any such advance that, in the event he or it receives any such advance,
     such Indemnified Party shall reimburse the Indemnifying Party for such
     fees, costs and expenses to the extent that it shall be determined that he
     or it was not entitled to indemnification under this Article 10.

          (d) Notwithstanding any of the foregoing to the contrary, the
     provisions of this Article 10 shall not be construed so as to provide for
     the indemnification of any Indemnified Party for any liability to the
     extent (but only to the extent) that such indemnification would be in
     violation of applicable law or such liability may not be waived, modified,
     or limited under applicable law, but shall be construed so as to effectuate
     the provisions of this Article 10 to the fullest extent permitted by law;
     provided, that if and to the extent that the Indemnifying Party's
     indemnification obligation under this Article 10 is unenforceable for any
     reason, the Indemnifying Party hereby agrees to make the maximum
     contribution permissible under applicable law to the payment and
     satisfaction of the losses of the Indemnified Party, except to the extent
     such losses are found in a final, nonappealable judgment by a court of
     competent jurisdiction to have resulted from the Indemnified Party's gross
     negligence or willful misconduct.

     Section 10.4. Directors' and Officers' Insurance

     The Company may provide appropriate directors' and officers' insurance to
the extent such insurance is available to the Company on commercially reasonable
terms.

                                   ARTICLE 11
                                  MISCELLANEOUS

     Section 11.1. Entire Agreement

     This Agreement in effect on the date hereof, together with any schedules
and exhibits hereto and thereto, contain the entire agreement and understanding
of the Members and the Company relating to the subject matter hereof and
supersede all prior negotiations, proposals, offers, agreements and
understandings (written or oral) relating to such subject matter.

     Section 11.2. Amendment; Waiver

     The Manager may make the following amendments to this Agreement on behalf
of all of the Members: (i) any amendment reasonably necessary, in the opinion of
counsel for the Company, to satisfy the requirements of the Code with respect to
the tax laws

                                       38

<PAGE>

applicable to the Company or of any federal or state securities laws or
regulations, provided such amendment does not adversely affect the interest of
any Member; (ii) any amendment to change the name of the Company or the location
of its principal place of business, and any amendment to Schedule 3.6 made in
accordance with Section 3.6(a); and (iii) any amendment to correct a scrivener's
error in this Agreement and any certificates filed in connection therewith;
provided that any other amendment or modification of this Agreement or any
provision hereof may be made only upon the consent or approval of a Majority in
Interest. No failure or delay of any Member in exercising any power or right
hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any such right or power, or any abandonment or discontinuance of
steps to enforce any such right or power, preclude any other further exercise
thereof or the exercise of any other right or power. No waiver by any Member of
any departure by any other Member from any provision of this Agreement shall be
effective unless the same shall be in a writing signed by the Member against
which enforcement of such waiver or consent is sought, and then such waiver or
consent shall be effective only in the specific instance and for the specific
purpose for which it was given. No notice or similar communication by any Member
to another shall entitle such other Member to any other or further notice or
similar communication in similar or other circumstances, except as specifically
provided herein.

     Section 11.3. Specific Performance

     The Members acknowledge that money damages may not be an adequate remedy
for violations of this Agreement and that any Member may, in its sole
discretion, in an arbitration or a court of competent jurisdiction to the extent
permitted hereunder, apply for specific performance or injunctive or other
relief as such arbitration or court may deem just and proper in order to enforce
this Agreement or to prevent violation hereof and, to the extent permitted by
applicable law, each Member waives any objection to the imposition of such
relief.

     Section 11.4. Remedies Cumulative

     All rights, powers and remedies provided under this Agreement or otherwise
available in respect hereof at law or in equity shall, unless otherwise
specifically provided herein, be cumulative and not alternative, and the
exercise or beginning of the exercise of any thereof by a Member shall not
preclude the simultaneous or later exercise of any other such right, power or
remedy by such Member.

     Section 11.5. Successors and Assigns

     This Agreement shall be binding upon and shall inure to the benefit of the
Members and their respective successors and permitted assigns. No Member may
assign its rights or delegate its duties under this Agreement without the
written consent of the other Members except to the extent expressly provided in
this Agreement.

     Section 11.6. No Third Party Beneficiaries

     This Agreement is entered into solely for the benefit of the Members and no

                                       39

<PAGE>

Person other than the Members, their respective successors and permitted
assigns, and (to the extent provided in Article 10) the Persons entitled to
indemnification pursuant to Article 10, may exercise any right or enforce any
obligation hereunder.

     Section 11.7. Further Assurances

     Each Member will execute and deliver such further documents and take such
further actions as any other Member may reasonably request consistent with the
provisions hereof in order to effect the intent and purposes of this Agreement.

     Section 11.8. Notices

     All notices or other communications hereunder shall be in writing and shall
be deemed to have been duly given or made (i) upon delivery if delivered
personally (by courier service or otherwise) or (ii) upon confirmation of
dispatch if sent by facsimile transmission (which confirmation shall be
sufficient if shown by evidence produced by the facsimile machine used for such
transmission), in each case to the applicable addresses set forth below (or such
other address as the recipient may specify in accordance with this Section):

     If to Hawaiian Member:

          Shichinin, LLC
          c/o U.S. Pacific Capital Co., Ltd.
          1001 Bishop Street
          1360 Pauahi Tower
          Honolulu, HI 96813
          Attention: Mark Mukai
          Fax (808) 441-0003

     With a copy to:

          Preston Gates & Ellis LLP
          925 Fourth Avenue, Suite 2900
          Seattle, WA 98104
          Attention: Eric Simonson, Esq.
          Fax: (206) 623-7022

     If to Clearwire:

          Clearwire US LLC
          5808 Lake Washington Blvd. N.E.
          Suite 300
          Kirkland, WA 98033
          Attention: Broady Hodder, General Counsel
          Fax: (425) 828-8061

     With a copy to:

                                       40

<PAGE>

          Davis Wright Tremaine LLP
          2600 Century Square
          1501 Fourth Avenue
          Seattle, Washington 98101-1688
          Attention: Julie Weston, Esq.
          Fax: (206) 628-7699

     Section 11.9. Governing Law

     This Agreement shall be governed by and construed in accordance with the
internal laws of the State of Delaware, without regard to principles of
conflicts of law.

     Section 11.10. Severability

     If any term of this Agreement or the application thereof to any Member or
any circumstance shall be held invalid or unenforceable to any extent, the
remainder of this Agreement and the application of such term to the other
Members or circumstances shall not be affected thereby and shall be enforced to
the greatest extent permitted by applicable law, so long as the economic and
legal substance of this Agreement and the actions contemplated hereby is not
affected in any manner adverse to any Member.

     Section 11.11. Independent Contractors

     The Members are independent contractors, and this Agreement does not create
a partnership or agency relationship among the Members, or any other
relationship between the Members except as expressly set forth herein. No Member
shall have any right or authority to assume, create or incur any liability or
obligation, express or implied, in the name or on behalf of any other Member.

     Section 11.12. Disposition of Interests

     Upon the sale or other disposition by a Person of all its Interests in the
Company, following which such Person and Affiliate thereof is no longer a Member
of the Company, this Agreement shall terminate as to such Member and its
Affiliates except as provided in Section 11.13 below.

     Section 11.13. Survival of Rights and Duties

     Termination of this Agreement for any reason shall not relieve any Member
of any liability which at the time of termination has already accrued to such
Member or which thereafter may accrue in respect of any act or omission prior to
such termination, nor shall any such termination affect in any way the survival
of any right, duty or obligation of any Member which is expressly stated
elsewhere in this Agreement to survive termination hereof. Section 6.5 and
Articles 10 and 11 shall survive any termination of this Agreement.

     Section 11.14. Counterparts

                                       41

<PAGE>

     This Agreement may be executed in any number of counterparts, each of which
shall be deemed to be an original, but all of which together shall constitute
one instrument.

     Section 11.15. Construction

     The captions used herein are for convenience of reference only and shall
not affect the interpretation or construction hereof. All pronouns and any
variations thereof shall be deemed to refer to the masculine, feminine, neuter,
singular or plural as the context may require. Unless otherwise specified, (a)
the terms "hereof," "herein" and similar terms refer to this Agreement as a
whole, (b) references herein to Articles or Sections refer to articles or
sections of this Agreement and (c) the word "including" connotes the words
"including without limitation" unless the context requires otherwise.

     Section 11.16. No Right to Partition

     No Member shall have the right to bring an action for partition against the
Company. Each of the Members hereby irrevocably waives any and all rights which
it may have to maintain an action to partition Company property or to compel any
sale or transfer thereof.

     Section 11.17. Securities

     The Interests shall constitute "securities" within the meaning of (i)
Article 8 of the Uniform Commercial Code (including Section 8-102(a)(15)
thereof) as in effect from time to time in the State of Delaware and (ii) the
Uniform Commercial Code of any other applicable jurisdiction that now or
hereafter substantially includes the 1994 revisions to Article 8 thereof as
adopted by the American Law Institute and the National Conference of
Commissioners on Uniform State Laws and approved by the American Bar Association
on February 14, 1995.

                            [Signature page follows]

                                       42

<PAGE>

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

                                        CLEARWIRE US LLC

                                        By /s/ Scott A. Hopper
                                           -------------------------------------
                                        Name: Scott A. Hopper
                                              ----------------------------------
                                        Title: Vice President
                                               ---------------------------------

                                        SHICHININ, LLC

                                        By Its Managing Member
                                        U.S. Pacific Capital Co., Ltd.

                                        By /s/ Mark Mukai
                                           -------------------------------------
                                        Name: Mark Mukai
                                        Title: President/CEO

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                            Page
                                                                            ----
<S>                                                                         <C>
ARTICLE 1 GENERAL........................................................     1
   Section 1.1.   Name...................................................     1
   Section 1.2.   Principal Place of Business; Registered Office
                  and Agent..............................................     1
   Section 1.3.   Term...................................................     1
   Section 1.4.   Purpose and Powers.....................................     2
   Section 1.5.   Filings................................................     2
   Section 1.6.   Sole Agreement.........................................     2
   Section 1.7.   Definitions............................................     2

ARTICLE 2 CAPITALIZATION.................................................     9
   Section 2.1.   Capital Accounts.......................................     9
   Section 2.2.   Initial Capital Contributions..........................     9
   Section 2.3.   Hawaiian Member Contribution Option....................    10
   Section 2.4.   Additional Contributions...............................    11
   Section 2.5.   No Withdrawals.........................................    11
   Section 2.6.   No Interest on Capital Contribution....................    11
   Section 2.7.   No Third Party Beneficiaries...........................    11
   Section 2.8.   Preemptive Right.......................................    12

ARTICLE 3 PROFITS AND LOSSES.............................................    14
   Section 3.1.   Allocation of Net Profit and Loss - In General.........    14
   Section 3.2.   Special Allocations....................................    15
   Section 3.3.   Corrective Allocations.................................    15
   Section 3.4.   Other Allocation Rules.................................    16
   Section 3.5.   Allocation of Excess Nonrecourse Liabilities...........    16
   Section 3.6.   Allocations in Connection with Varying Interests.......    16
   Section 3.7.   Determination of Net Profit or Loss....................    16
   Section 3.8.   Mandatory Tax Allocations Under Code Section 704(c)....    17

ARTICLE 4 DISTRIBUTIONS..................................................    17
   Section 4.1.   Distributable Cash.....................................    17
   Section 4.2.   Liquidating Distributions..............................    18
   Section 4.3.   Other Distributions....................................    18

ARTICLE 5 ACCOUNTING AND RECORDS.........................................    18
   Section 5.1.   Fiscal Year............................................    18
   Section 5.2.   Method of Accounting...................................    18
   Section 5.3.   Books and Records; Inspection..........................    18
   Section 5.4.   Financial Statements...................................    19
   Section 5.5.   Operations Reporting...................................    19
   Section 5.6.   Taxation...............................................    19
   Section 5.7.   Internal Control Over Financial Reporting..............    21
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                                            Page
                                                                            ----
<S>                                                                         <C>
ARTICLE 6 MANAGEMENT.....................................................    22
   Section 6.1.   Manager................................................    22
   Section 6.2.   Meeting Requirements...................................    22
   Section 6.3.   Actions Requiring Majority Approval....................    23
   Section 6.4.   Actions by Members.....................................    25
   Section 6.5.   Confidentiality........................................    25
   Section 6.6.   Non-Competition........................................    27
   Section 6.7.   Duties.................................................    27
   Section 6.8.   Dispute Resolution.....................................    28

ARTICLE 7 TRANSFER OR ENCUMBRANCE OF INTERESTS...........................    28
   Section 7.1.   General Restriction on Transfer or Encumbrance.........    28
   Section 7.2.   Drag-Along Rights......................................    29
   Section 7.3.   Tag-Along Rights.......................................    29
   Section 7.4.   Rights of First Refusal................................    29
   Section 7.5.   Substituted Members....................................    29
   Section 7.6.   Alternative Sale Rights................................    30
   Section 7.7.   Invalid Transfers Void.................................    30
   Section 7.8.   No Change of Control...................................    30
   Section 7.9.   Certain Determinations.................................    31

ARTICLE 8 CERTAIN AGREEMENTS; REPRESENTATIONS AND WARRANTIES.............    31
   Section 8.1.   Prohibited Actions.....................................    32
   Section 8.2.   Additional Covenants of the Members....................    32
   Section 8.3.   Representations and Warranties of the Members..........    32
   Section 8.4.   Additional Representation and Warranties of Clearwire..    33

ARTICLE 9 DISSOLUTION AND TERMINATION....................................    34
   Section 9.1.   No Termination.........................................    34
   Section 9.2.   Events of Dissolution..................................    34
   Section 9.3.   Procedures Upon Dissolution............................    34
   Section 9.4.   Termination............................................    35

ARTICLE 10 SURVIVAL, LIABILITY AND INDEMNIFICATION.......................    35
   Section 10.1.  No Personal Liability..................................    36
   Section 10.2.  Survival; Exclusivity..................................    36
   Section 10.3.  Procedures.............................................    37
   Section 10.4.  Directors' and Officers' Insurance.....................    38

ARTICLE 11 MISCELLANEOUS.................................................    38
   Section 11.1.  Entire Agreement.......................................    38
   Section 11.2.  Amendment; Waiver......................................    38
   Section 11.3.  Specific Performance...................................    39
   Section 11.4.  Remedies Cumulative....................................    39
   Section 11.5.  Successors and Assigns.................................    39
   Section 11.6.  No Third Party Beneficiaries...........................    39
   Section 11.7.  Further Assurances.....................................    40
</TABLE>

                                       ii

<PAGE>

<TABLE>
<CAPTION>
                                                                            Page
                                                                            ----
<S>                                                                         <C>
   Section 11.8.  Notices................................................    40
   Section 11.9.  Governing Law..........................................    41
   Section 11.10. Severability...........................................    41
   Section 11.11. Independent Contractors................................    41
   Section 11.12. Disposition of Interests...............................    41
   Section 11.13. Survival of Rights and Duties..........................    41
   Section 11.14. Counterparts...........................................    41
   Section 11.15. Construction...........................................    42
   Section 11.16. No Right to Partition..................................    42
   Section 11.17. Securities.............................................    42
</TABLE>

Schedule 2.2 - Clearwire Assets
Schedule 3.6 - Tax Allocations
Schedule 5.5 - Operational Information

Exhibit A - Assignment and Assumption Agreement
Exhibit B - Bill of Title Transfer
Exhibit C - Trademark Licensing Agreement

                                      iii
<PAGE>

                                  SCHEDULE 2.2

                                CLEARWIRE ASSETS

[***]

[*** Confidential Treatment Requested]
<PAGE>
[***]

[*** Confidential Treatment Requested]

                                       ii

<PAGE>
[***]

[*** Confidential Treatment Requested]

                                       iii

<PAGE>
[***]

[*** Confidential Treatment Requested]

                                       iv

<PAGE>
[***]

[*** Confidential Treatment Requested]

                                        v

<PAGE>
[***]

[*** Confidential Treatment Requested]

                                       vi

<PAGE>
[***]

[*** Confidential Treatment Requested]

<PAGE>
[***]

[*** Confidential Treatment Requested]

<PAGE>

                                    EXHIBIT A

                       ASSIGNMENT AND ASSUMPTION AGREEMENT

<PAGE>

                                    EXHIBIT B

                             BILL OF TITLE TRANSFER

<PAGE>

                                    EXHIBIT C

                          TRADEMARK LICENSING AGREEMENT<PAGE>

                                                                   EXHIBIT 10.51

                                                               EXECUTION VERSION
                                                    INTEL/CLEARWIRE CONFIDENTIAL

                        COMMON STOCK PURCHASE AGREEMENT

     This Common Stock Purchase Agreement (the "AGREEMENT") is entered into as
of June 28, 2006 (the "EFFECTIVE DATE") by and among Clearwire Corporation, a
Delaware corporation (the "COMPANY"), and Intel Pacific, Inc., a Delaware
corporation ("PURCHASER").

                                    RECITALS

     WHEREAS, the Company desires to sell, and Purchaser desires to purchase,
shares of the Company's Class A Common Stock, $0.0001 par value per share (the
"CLASS A COMMON STOCK"), and Class B Common Stock, $0.0001 par value per share
(the "CLASS B COMMON STOCK" and, together with the Class A Common Stock, the
"COMMON STOCK") having the rights, preferences, privileges and restrictions set
forth in the Restated Certificate (as defined below);

     WHEREAS, in order to induce Purchaser to enter into this Agreement,
concurrently with or prior to the issuance and sale of the Shares (as defined
below):

          (i) the Company and Purchaser shall enter into that certain Investor
Rights Agreement, in substantially the form attached to this Agreement as
Exhibit A (the "INVESTOR RIGHTS AGREEMENT");

          (ii) the Company, Purchaser and certain other stockholders of the
Company shall enter into a joinder agreement to that certain Amended and
Restated Stockholders Agreement, dated as of March 16, 2004 (the "STOCKHOLDERS
AGREEMENT"), in substantially the form attached to this Agreement as Exhibit B
(the "JOINDER AGREEMENT");

          (iii) the Company, Purchaser and certain other stockholders of the
Company shall enter into a Voting Agreement in substantially the form attached
to this Agreement as Exhibit C (the "VOTING AGREEMENT"); and

          (iv) the Company and certain members of the management of the Company
shall enter into non-compete agreements in substantially the form attached to
this Agreement as Exhibit D (the "EMPLOYEE NON-COMPETE AGREEMENT").

     WHEREAS, in order to induce Purchaser to enter into this Agreement,
concurrently with or prior to either the execution of this Agreement:

          (i) the Company, Purchaser and Intel Capital Corporation shall enter
into an amendment and restatement of that certain Side Letter Agreement dated
October 13, 2004, in substantially the form attached to this Agreement as
Exhibit E (the "SIDE LETTER AMENDMENT");

          (ii) the Company and Purchaser (or one of its affiliates) shall enter
into that certain Collaboration Agreement (the "COLLABORATION AGREEMENT"), in
substantially the form attached to this Agreement as Exhibit F, which
Collaboration Agreement relates to the deployment of an 802.16e WiMAX network in
the United States and internationally; and

                                       1

<PAGE>

          (iii) the Company, Purchaser and Eagle River Holdings, LLC ("EAGLE
RIVER") shall enter into a Voting Agreement and Waiver of Preemptive Rights in
substantially the form attached to this Agreement as Exhibit G (the "EAGLE RIVER
VOTING AGREEMENT").

The Investor Rights Agreement, the Joinder Agreement, the Voting Agreement, the
Non-Compete Agreements, the Side Letter Amendment, the Collaboration Agreement,
and the Eagle River Voting Agreement are collectively referred to herein as the
"TRANSACTION AGREEMENTS."

                                   AGREEMENT

     NOW, THEREFORE, In consideration of the mutual promises, covenants and
conditions hereinafter set forth, the parties hereto agree as follows:

     1. AGREEMENT TO PURCHASE AND SELL STOCK

          1.1. Authorization. Prior to the Closing (as defined below), the
Company shall adopt and file with the Secretary of State of the State of
Delaware the amended and restated Certificate of Incorporation of the Company
attached to this Agreement as Exhibit H (the "RESTATED CERTIFICATE").

          1.2. Agreement to Purchase and Sell Stock. Subject to the terms and
conditions hereof, on the date of the Closing, Purchaser agrees to purchase and
the Company agrees to issue and sell to Purchaser 70,282,803 shares of Class A
Common Stock and 29,717,197 shares of Class B Common Stock (collectively, the
"SHARES"), in each case, subject to adjustment as set forth in Section 1.3 and
Section 5.5 hereof, at a price of $6.00 per share for an aggregate purchase
price of $600,000,000.00 (the "AGGREGATE PURCHASE PRICE").

          1.3. Adjustment in Number of Shares. The number of shares of Class A
Common Stock and shares of Class B Common Stock to be issued and sold to
Purchaser hereunder on the date of the Closing is based on the total voting
power of the Company's capital stock held, owned or controlled by Eagle River
and/or its affiliates, which total voting power shall be determined in
accordance with the provisions of Section 5.5(g) hereof. To the extent there is
any change in the a total voting power of the Company's capital stock held,
owned or controlled by Eagle River and/or its affiliates on or prior to the date
of the Closing, the number of shares of Class A Common Stock and shares of Class
B Common Stock to be issued and sold to Purchaser hereunder on the date of the
Closing will be adjusted such that the total voting power of the Company's
capital stock represented by the Shares equals 60% of the total voting power of
the Company's capital stock held by Eagle River and/or its affiliates; provided
that, except in the event of a Dilutive Issuance (as defined below), in no any
event will the aggregate number of Shares exceed 100,000,000.

     2. CLOSING; DELIVERY

          2.1. The Closing. The purchase and sale of the Shares hereunder shall
take place remotely via the exchange of documents and signature pages at 10:00
a.m. (Pacific time), on the date that is two business days following the
satisfaction of all of the conditions set forth in

                                        2

<PAGE>

Sections 6 and 7 hereof, or at such other time and place as the Company and
Purchaser may mutually agree upon (the "CLOSING").

          2.2. Delivery. At the Closing, the Company will deliver to Purchaser
stock certificates representing the number of Shares purchased by Purchaser
hereunder against payment of the full purchase price therefor by wire transfer
of immediately available funds to an account designated in written wire transfer
instructions delivered to Purchaser by the Company at least one (1) business day
prior to the Closing.

     3. COMPANY REPRESENTATIONS AND WARRANTIES

     The Company hereby represents and warrants to Purchaser that, except as set
forth in the Schedule of Exceptions ("SCHEDULE OF EXCEPTIONS") delivered to
Purchaser in connection with the Closing and attached to this Agreement as
Exhibit I (which Schedule of Exceptions shall be deemed to be part of the
representations and warranties made hereunder and which exceptions shall be
deemed to be an exception to or exclusion from only the particular
representation and warranty against which it is listed, unless it is readily
apparent on its face from a reasonable reading of the disclosure that such
disclosures is applicable to another representation and warranty, whether or not
the listed representation and warranty includes a reference to such section of
the Schedule of Exceptions), the statements in this Section 3 are all true and
correct, unless otherwise specified herein. For purposes of this Agreement, (i)
the term "MINOR SUBSIDIARIES" means, both individually and together, each entity
that is listed under the heading "Minor Subsidiary" on Schedule 3.4(a) to the
Schedule of Exceptions; (ii) the term "MAJOR SUBSIDIARIES" means, both
individually and together, each entity (A) in which the Company, directly or
indirectly, owns or holds more than 50% of the outstanding equity interests, (B)
which is consolidated in the Financial Statements (as defined below), or (C) of
which the Company, directly or indirectly, has the ability or power to elect a
majority of the directors (or individuals performing similar functions), other
than (1) the Minor Subsidiaries and (2) NextNet Wireless, Inc. (to the extent
that it is sold prior to the date of the Closing); and (iii) the term
"SUBSIDIARIES" means, both individually and together, the Minor Subsidiaries and
the Major Subsidiaries. For the purposes of this Agreement, the terms
"knowledge", "known", "believe", "aware" or any similar term when referring to
the Company and/or any of its Subsidiaries shall mean the knowledge, information
and/or belief, formed after making reasonable inquiry, of the Company's co-Chief
Executive Officers, co-Presidents, Chief Operating Officer, and Chief Financial
Officer.

          3.1. Due Authorization. All corporate action on the part of the
Company its officers, directors and shareholders necessary for the
authorization, execution and delivery of, and the performance of all obligations
of the Company under, this Agreement and the Transaction Agreements and
necessary for the consummation of the transactions contemplated hereby and
thereby, including, without limitation, the authorization, issuance, reservation
for issuance and delivery of the Shares and Conversion Shares (as defined below)
being sold under this Agreement, has been taken or will be taken prior to the
Closing. The execution, delivery and performance by the Company of this
Agreement and the Transaction Agreements and the consummation of the
transactions contemplated hereby and thereby will not conflict with, or
constitute or result in, with or without the passage of time or the giving of
notice or both, either a

                                        3

<PAGE>

violation, breach or default by the Company or any Subsidiary of, (i) any Order
(as defined below) of any court or other tribunal or of any federal, state,
local or foreign governmental authority, regulatory authority, commission or
agency (a "GOVERNMENT AUTHORITY"), provided that with respect to a Minor
Subsidiary, except where such violation, breach or default would not have or
result, individually or in the aggregate, in a Material Adverse Effect (as
defined below), (ii) any agreement, mortgage, indebtedness, lease, license,
indenture, contract, instrument, arrangement, understanding, commitments or
other undertaking ("CONTRACT"), to which the Company or any Subsidiary is a
party or by which the Company or such Subsidiary or any of their respective
properties or assets may be bound, except for this clause (ii), where such
violation, breach or default would not have or result in, individually or in the
aggregate, a Material Adverse Effect, (iii) any provision of the Restated
Certificate, the Company's bylaws (the "BYLAWS"), the charter, bylaws and/or
other governing documents of each of the Subsidiaries, or the Stockholders
Agreement, each as amended to date, or (iv) the provisions of any laws, statute,
rule, regulation or requirement ("LAWS") of the United States (including,
without limitation, any federal, state or local Governmental Authority) and
jurisdictions outside the United States applicable to or binding upon the
Company or any Subsidiary or any of their respective properties or assets,
provided that with respect to a Minor Subsidiary, except where such violation,
breach or default would not have or result in, individually or in the aggregate,
a Material Adverse Effect. The signature of the Company on this Agreement and
each of the Transaction Agreements is genuine. This Agreement constitutes a
legal, valid and binding obligation of the Company, enforceable in accordance
with its terms, subject, as to enforcement of remedies, to applicable
bankruptcy, insolvency, moratorium, reorganization and similar Laws affecting
creditors' rights generally and to general equitable principles. Each of the
Transaction Agreements, when executed and delivered by the Company, shall
constitute legal, valid and binding obligations of the Company enforceable in
accordance with their respective terms, subject, as to enforcement of remedies,
to applicable bankruptcy, insolvency, moratorium, reorganization and similar
Laws affecting creditors' rights generally and to general equitable principles
and, with regard to the indemnification provisions contained in the Investor
Rights Agreement, to the extent such indemnification provisions may be limited
by applicable federal and state securities Laws and principles of public policy.

          3.2. Organization, Good Standing, Corporate Power and Qualification.
The Company and each Major Subsidiary is duly incorporated or organized, as
applicable, and validly existing under the Laws of the jurisdiction of its
incorporation or formation, as applicable, and is in good standing under such
Laws. The Company and each Major Subsidiary is duly qualified to transact
business and is in good standing in each jurisdiction in which the failure to be
so qualified and/or be in good standing would have or result in, individually or
in the aggregate, a material adverse effect on the financial condition,
business, assets (including, without limitation, intangible assets), or
operations of the Company and the Subsidiaries, taken together (a "MATERIAL
ADVERSE EFFECT"). The Company and each Major Subsidiary has all requisite power
and authority to own and operate its respective properties and assets, to carry
on its business as presently conducted and as presently proposed to be conducted
and to enter into this Agreement and the Transaction Agreements and to perform
its obligations hereunder and thereunder, including, without limitation, the
issuance, sale and delivery of the Shares and the Conversion Shares.

                                       4

<PAGE>

          3.3. Minutes. Copies of all minute books of the Company and each Major
Subsidiary that include all meeting minutes and consent actions of the Board of
Directors (the "BOARD") and stockholders of the Company and each such Major
Subsidiary, as the case may be, have been made available to Purchaser. These
copies are true and complete copies of all resolutions evidencing actions taken
by the Board of the Company and stockholders of the Company and each such Major
Subsidiary since its respective date of incorporation.

          3.4. Subsidiaries. Schedule 3.4(a) of the Schedule of Exceptions sets
forth the name and jurisdiction of each Major Subsidiary and each Minor
Subsidiary as of the Effective Date. Except as set forth on Schedule 3.4(b) of
the Schedule of Exceptions, each Subsidiary is wholly-owned, directly or
indirectly, by the Company. Other than the Subsidiaries, the Company does not
own or control, directly or indirectly, any interest in, or participate in, any
other corporation, partnership, trust, joint venture, limited liability company,
association or other entity or similar arrangement. The shares of the capital
stock or membership or other equity interests, as applicable, of each of the
Subsidiaries owned by the Company are duly authorized, validly issued, fully
paid, and non-assessable, and free and clear of all Liens (as defined below). As
of the Effective Date, the outstanding securities of each of the Subsidiaries
are owned by the stockholders, optionholders, warrantholders and other
securityholders and in the numbers and by the class, series and type of each
security specified in Schedule 3.4(c) of the Schedule of Exceptions.

          3.5. Capitalization; Valid Issuance of Stock.

               (a) The authorized capital stock of the Company and the shares of
capital stock of the Company issued and outstanding on the Effective Date are as
set forth on Schedule 3.5(a)(i) of the Schedule of Exceptions. All of the
outstanding shares of the capital stock of the Company are duly authorized,
validly issued, fully paid and non-assessable, and free and clear of all Liens,
other than imposed by or through the holder of the securities. As of the
Effective Date, the outstanding securities of the Company are owned by the
stockholders, optionholders, warrantholders and other securityholders and in the
numbers and by the class, series and type of each security specified in Schedule
3.5(a)(ii) of the Schedule of Exceptions. In addition, Schedule 3.5(a)(iii) of
the Schedule of Exceptions sets forth a true and complete list, as of the
Effective Date, of all outstanding options and warrants issued by the Company,
including for each, the name of the grantee, number of shares subject to the
option or warrant granted, the exercise price per share, the vesting schedule,
if applicable, and the date of issuance. As of the Effective Date, Eagle River
and/or its affiliates hold, own or control, beneficially or of record, or have
the power to vote, the number of Voting Securities (as defined below) specified
in Schedule 3.5(a)(iv) of the Schedule of Exceptions.

               (b) The Shares, when issued, sold and delivered in accordance
with the terms and for the consideration set forth in this Agreement, will be
duly authorized, validly issued, fully paid and non-assessable, and free and
clear of all Liens, other than Liens created by or imposed by Purchaser.
Additionally, the Shares are free of restrictions on transfer, other than
restrictions on transfer under this Agreement and the Stockholders Agreement, as
amended to date, and under applicable state and federal securities Laws. The
Company has and/or at Closing will have reserved 29,717,197 shares of its Class
A Common Stock for issuance to Purchaser

                                        5

<PAGE>

upon conversion of the Class B Common Stock to be issued to Purchaser hereunder
(the "CONVERSION SHARES"). The Conversion Shares have been and/or at the Closing
will have been duly and validly reserved for issuance and, upon issuance in
accordance with the terms of the Restated Certificate, will be duly and validly
issued, fully paid and non assessable and free of restrictions on transfer other
than restrictions on transfer under this Agreement and the Stockholders
Agreement, as amended to the date and the date of the Closing, and under
applicable state and federal securities Laws and free of any Liens, other than
Liens created by or imposed by Purchaser. Except as provided by the Stockholders
Agreement, which rights Eagle River and its affiliates have validly waived as of
the Effective Date, the sale and issuance of the Shares and the Conversion
Shares are not subject to any preemptive rights or rights of first refusal or
similar rights.

               (c) As of the Effective Date, the Company has reserved 30,000,000
shares of its Class A Common Stock for issuance to officers, directors,
employees and consultants of the Company and the Subsidiaries under the
Company's 2003 Stock Option Plan, pursuant to which (i) no shares of Class A
Common Stock have been issued pursuant to stock purchase agreements, restricted
stock units or awards and the exercise of stock options, (ii) options to
purchase 27,589,599 shares of Class A Common Stock are outstanding, and (iii)
2,410,401 shares of Class A Common Stock remain available for the grant of
future options or other equity-based awards. Other than the Company's 2003 Stock
Option Plan and Stock Appreciation Rights Plan, and the individual stock bonus
arrangements entered into by the Company, each as listed on Schedule 3.5(c) of
the Schedule of Exceptions, neither the Company nor any Subsidiary has or is
bound by any stock plan, stock purchase, stock option or other similar benefit,
bonus or incentive plan or program. Other than as described in the first two
sentences of this Section 3.5(c), neither the Company nor any Subsidiary is
bound by, or has any obligation to grant or enter into, any outstanding
subscriptions, options, warrants, rights (including, without limitation,
conversion or pre-emptive rights), calls, commitments, or Contract of any
character calling for it to issue, deliver or sell, or cause to be issued,
delivered or sold, any shares or any other equity securities or equity
securities convertible into, exchangeable for, or representing the right to
subscribe for, purchase, or otherwise acquire any shares or any other equity
securities in the capital of the Company or any Subsidiary. The Company has made
available to Purchaser true and complete copies of the forms of all stock
restriction agreements with respect to the securities of the Company and any
Subsidiary.

               (d) Except as set forth on Schedule 3.5(a) of the Schedule of
Exceptions, all outstanding options issued under the Company's 2003 Stock Option
Plan vest as follows: twenty-five percent (25%) of the shares vest one (1) year
following the vesting commencement date, with another twenty-five percent (25%)
vesting on each subsequent anniversary so that the option fully vests over four
(4) years from the vesting commencement date. The Company has never adjusted or
amended the exercise price of any stock options previously awarded, whether
through amendment, cancellation, replacement grant, repricing, or any other
means, except as required to comply with Section 409A of the Internal Revenue
Code of 1986, as amended (the "CODE"), which instances are described on Schedule
3.5(d) of the Schedule of Exceptions. No stock plan, stock purchase, stock
option, option agreement or other similar benefit, bonus or incentive plan or
program or other Contract between the Company and any holder of any equity
securities or rights to purchase equity securities provides for

                                       6

<PAGE>

acceleration or other changes in the vesting provisions, lapse of any Company
repurchase rights or other changes in the terms of such Contract as the result
of (i) termination of employment or consulting services (whether actual or
constructive) of any shareholder; (ii) any merger, consolidation, sale of stock
or assets, change in control or any other transaction(s) by the Company or any
Subsidiary; or (iii) the occurrence of any other event or combination of events.

               (e) All Holders of outstanding shares of the Common Stock are
parties to and bound by the Stockholders Agreement. Similarly, with respect to
each person who, pursuant of any stock plan, stock purchase, stock option or
other similar benefit, bonus or incentive plan or program of the Company, holds
any currently outstanding shares of Common Stock or other securities of the
Company or any Subsidiary or any option, warrant or right to acquire such shares
or other securities, the Company has a right to require that each such person
enter into or otherwise be bound by a Contract granting the Company (i) a right
of first refusal in favor of the Company upon proposed transfer by such holder
of such Common Stock or other security; and (ii) a lock-up or market standoff
agreement of not less than 180 days following the Company's initial public
offering pursuant to a registration statement filed with the Securities and
Exchange Commission under the Securities Act of 1933, as amended, and the rules
and regulations promulgated thereunder (the "1933 ACT"). Other than the
Stockholders Agreement, as amended to date, neither the Company nor any
Subsidiary is a party or subject to any Contract, and, to the Company's
knowledge, there is no Contract between any persons and/or entities, which
affects or relates to the voting or giving of written consents with respect to
any security or by a director of the Company or any Subsidiary.

               (f) Except as set forth in the Restated Certificate, neither the
Company nor any Subsidiary has any outstanding obligation, contractual,
contingent or otherwise, to repurchase, redeem, or otherwise acquire any shares
or other equity securities in the capital of the Company or any Subsidiary.
Except for rights granted under that certain Registration Rights Agreement of
the Company dated March 16, 2004, that certain Registration Rights Agreement of
the Company dated November 13, 2003, that certain Registration Rights Agreement
of the Company dated August 5, 2005, or to be granted to Purchaser under the
Investor Rights Agreement, neither the Company nor any Subsidiary is a party to
or bound by any Contract under which any person or entity has the right, nor has
the Company or any Subsidiary granted or agreed to grant to any person or entity
any right, including, without limitation, any piggyback or demand rights, to
require the Company or such Subsidiary to effect, or to include any securities
held by such person or entity in, any registration with the United States
Securities and Exchange Commission (the "SEC") or any other Government Authority
or to distribute any such securities to the public.

               (g) All of the outstanding shares of capital stock, options,
warrants and other securities of the Company and the Subsidiaries were offered,
issued and sold in full compliance with the registration and prospectus delivery
requirements of the 1933 Act and the registration and qualification requirements
of all applicable state securities Laws, or in compliance with applicable
exemptions therefrom, and all other provisions of all applicable federal, state
and provincial securities Laws, including, without limitation, anti-fraud
provisions, except for such non-compliance as would not have or result in,
individually or in the aggregate, a Material Adverse Effect. Assuming the
accuracy of the representations of Purchaser set forth in

                                       7

<PAGE>

Section 4 hereof, the offer, issuance and sale of the Shares pursuant to this
Agreement are exempt from the registration requirements of Section 5 of the 1933
Act by virtue of Regulation D thereunder, from the qualification requirements of
the California Corporate Securities Law of 1968, as amended, and from the
registration or qualification requirements of all other applicable state
securities Laws, and the issuance of the Conversion Shares in accordance with
the Restated Certificate will be exempt from such registration and qualification
requirements.

          3.6. Government and Third Party Consents. Except (i) for the filing of
the Restated Certificate, which will have been filed as of the Closing, (ii) for
filings pursuant to Regulation D of the 1933 Act and Section 25102(f) of the
California Corporation Code, which may and will be timely filed after the
Closing, and (iii) for filings required under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as amended, and the rules and regulations promulgated
thereunder ("HSR ACT"), no consent, waiver, approval, order, permit,
authorization, declaration, notification, filing, designation, qualification or
registration ("CONSENT") of or with any Governmental Authority or any other
person is required to be made or obtained by the Company or any Major Subsidiary
in connection with (A) the execution and delivery of this Agreement or any of
the Transaction Agreements; or (B) the performance by the Company of its
obligations under this Agreement or the Transaction Agreements or the
consummation of the transactions contemplated hereby and thereby, other than
Consents required with respect to the performance of the Collaboration Agreement
after the date of the Closing that may be obtained after the Closing and for
which the Company does not currently believe that it will be unable to obtain in
a timely manner.

          3.7. Title to Properties and Assets; Absence of Liens. The Company and
the Major Subsidiaries have good and marketable title to and own their
respective property and assets, including, without limitation, the property and
assets reflected in the unaudited consolidated balance sheet of the Company
dated March 31, 2006, free and clear of all mortgages, pledges, liens, deeds of
trust, claims of any kind, licenses, restrictions, security interests and other
encumbrances ("LIENS"), except such Liens imposed by Law that arise in the
ordinary course of business and do not materially impair the Company's or any
such Major Subsidiary's ownership or use of such property or assets. With
respect to the property and assets it leases (excluding any Spectrum Leases (as
defined below), which are covered by Section 3.23 hereof), the Company and each
Major Subsidiary, as the case may be, is in compliance with the lease covering
such property and assets and the Company or such Major Subsidiary, as
applicable, holds a valid leasehold interest in such leased property and assets
free of any Liens (other than those of the lessors of such property or assets),
except with respect to leases of which the termination or loss of rights would
not have or result in, individually or in the aggregate, a Material Adverse
Effect.

          3.8. Tax Matters. The Company and each Major Subsidiary has duly and
timely filed all returns, declarations, reports, and information statements
("RETURNS") required to be filed in respect of any and all Taxes (as defined
below). All Returns filed by the Company or any each Major Subsidiary are true,
correct, and complete in all material respects. The Company and each Major
Subsidiary, as applicable, has paid all Taxes due and payable on a timely basis,
whether or not shown on such Returns, except those Taxes contested by the
Company in good faith that are listed in Schedule 3.8 of the Schedule of
Exceptions. There are no federal, state,

                                        8

<PAGE>

county or local Taxes of the United States (including, without limitation any
federal, state or local government agency) or Taxes of jurisdictions outside the
United States due and payable by the Company or any Subsidiary which have not
been timely paid, except where the failure to timely pay such Taxes would not
have or result in, individually or in the aggregate, a Material Adverse Effect.
The provision for Taxes as shown in the Financial Statements (as defined below)
is adequate for the payment of, and are at least equal to all unpaid Taxes of
the Company and the Subsidiaries, due or accrued, whether or not assessed or
disputed, as of the date of the Financial Statements. The Company has not
elected pursuant to the Code, to be treated as an "S" corporation pursuant to
Section 1362(a) of the Code or a collapsible corporation pursuant to Section
341(f) of the Code, and neither the Company nor any Major Subsidiary has made
any other elections pursuant to the Code (other than elections that relate
solely to methods of accounting, depreciation, or amortization) that would have
or result in, individually or in the aggregate, a Material Adverse Effect. None
of the Returns has ever been audited by any applicable Governmental Authority,
and there is no current audit, investigation, Action (as defined below) or
deficiency proposed or assessed against the Company or any Major Subsidiary with
respect to Taxes. Neither the Company nor any Major Subsidiary has executed any
waiver of any statute of limitations on the assessment or collection of any
Taxes. Since the date of the Financial Statements, neither the Company nor any
Major Subsidiary has incurred any Taxes other than in the ordinary course of
business, and the Company and each Major Subsidiary has made adequate provisions
on its books of account for all Taxes with respect to its business, properties
and operations for such period. There are no Liens for Taxes upon any of the
assets of the Company or any Major Subsidiary, except Liens for Taxes not yet
due and payable. The Company and each Major Subsidiary have withheld and
collected all Taxes required to be withheld or collected under the Code or other
applicable Law, and has paid such Taxes to the proper Governmental Authority,
all on a timely basis. Neither the Company nor any Major Subsidiary has been a
"distributing corporation" or a "controlled corporation" in connection with a
distribution described in Section 355 of the Code. Neither the Company nor any
Major Subsidiary has ever been a member of an affiliated group of corporations,
within the meaning of Section 1504 of the Code (or any predecessor provision or
comparable provision of state, local or foreign Law), or a member of combined,
consolidated or unitary group for state, local or foreign Tax purposes, other
than the group of which the Company is the common parent. Neither the Company
nor any Major Subsidiary has any liability for Taxes of any person (other than
the Company or such Major Subsidiary) under Treasury Regulations Section
1.1502-6 (or any corresponding provision of state, local or foreign income Tax
Law), as transferee or successor, or pursuant to a contract. Neither the Company
nor any Major Subsidiary has engaged in a transaction that constitutes a
"reportable transaction", as such term is defined in Treasury Regulation Section
1.6011-4(b)(1), or a transaction that constitutes a "listed transaction", as
such term is defined in Treasury Regulation Section 1.6011-4(b)(2). For purposes
of this Agreement, the term "TAXES" means (i) all charges, fees, levies, or
other assessments, including, without limitation, all net income, gross income,
gross receipts, sales, use, ad valorem, transfer, franchise, profits, license,
withholding, payroll, employment, social security, unemployment, excise,
estimated, severance, stamp, occupation, property, or other taxes, together with
all interest and penalties on such taxes, (ii) any liability for payment of
amounts described in clause (i) whether as a result of transferee liability, of
being a member of an affiliated, consolidated, combined or unitary group for any
period, or otherwise through operation of Law, and (iii) any liability for the
payment of amounts described in clauses (i) or (ii) as a result of any tax
sharing,

                                        9
<PAGE>

tax indemnity or tax allocation Contract or any other express or implied
Contract to indemnify any other person..

          3.9. Litigation. There is no litigation, arbitration, action, claim,
suit, proceeding or, to the Company's knowledge, investigation (whether
conducted by or before any judicial or regulatory body, Governmental Authority,
arbitrator, or other person) ("ACTION") pending or, to the knowledge of the
Company, threatened or contemplated, (i) against the Company or any Major
Subsidiary, or any or their respective activities, properties or assets, (ii) to
the Company's knowledge, against any officer, director or employee of the
Company or any Subsidiary in connection with such officer's, director's or
employee's relationship with, or actions taken on behalf of the Company, or
(iii) that questions the validity of this Agreement or the Transaction
Agreements or the right of the Company to enter into them, or to perform its
obligations hereunder and thereunder or to consummate any of the transactions
contemplated by this Agreement or the Transaction Agreements. Neither the
Company, nor any Major Subsidiary, nor, to the Company's knowledge, any of their
respective officers, directors or employees, is a party or subject to the
provisions of any order, writ, injunction, judgment, ruling or decree ("ORDER")
of any court or Governmental Authority or instrumentality (in the case of
officers, directors and employees, such as would affect the Company or any Major
Subsidiary). There is no Action by the Company or any Subsidiary currently
pending or that the Company or any Subsidiary currently intends to initiate.

          3.10. Compliance with Other Instruments. Neither the Company nor any
Major Subsidiary is in, nor shall the conduct of its respective business as now
conducted and as presently proposed to be conducted result in, any violation,
breach or default of (i) any existing or, to the extent known to the Company,
currently proposed Order or Law of any court or other tribunal or of any
Governmental Authority, (ii) any Contract, to which the Company or any Major
Subsidiary is a party or by which the Company or any Major Subsidiary or any of
their respective properties may be bound, (iii) any provision of the Restated
Certificate, the Bylaws, the charter, bylaws and/or other governing documents of
each of the Subsidiaries, or the Stockholders Agreement, each as amended to the
date, or (iv) the provisions of any Laws of the United States (including,
without limitation any federal, state or local government agency) and
jurisdictions outside the United States applicable to or binding upon the
Company or any Major Subsidiary, except as would not have or result in,
individually or in the aggregate, a Material Adverse Effect.

          3.11. Interested Party Transactions. There are no Contracts or
proposed transactions between the Company or any Major Subsidiary and any of
their respective officers, directors, stockholders, affiliates, or any affiliate
thereof. To the Company's knowledge, none of the Company's or any Major
Subsidiary's directors or any Key Employees (as defined below), or any members
of their immediate families, or any "AFFILIATE" (as defined in Rule 405
promulgated under the 1933 Act) of any such person has or has had, either
directly or indirectly, a material interest in: (a) any person or entity which
purchases from or sells, licenses or furnishes to the Company or any Major
Subsidiary any goods, property, technology, intellectual or other property
rights or services; (b) any firm or corporation with which the Company or any
Major Subsidiary is affiliated or with which the Company or any Major Subsidiary
has a business relationship, or (c) any firm or corporation which competes with
the Company or any Major

                                       10

<PAGE>

Subsidiary, except that directors, officers or Key Employees or members of their
immediate families may own stock in (but not exceeding one percent (1%) of the
outstanding capital stock of) publicly traded companies. To the Company's
knowledge, none of the Company's or any Major Subsidiary's directors or any Key
Employees, or any members of their immediate families, or affiliates of any such
person has or has had, either directly or indirectly, a material interest in any
Contract to which the Company or any Major Subsidiary is a party or by which it
may be bound or affected (other than such Contracts as relate to any such
person's ownership of capital stock or other securities of the Company). None of
the Company's or any Major Subsidiary's directors or any Key Employees, or any
members of their immediate families, or affiliates of any such person has or has
had, either directly or indirectly, a material commercial, industrial, banking,
consulting, legal, accounting, charitable or familial relationship with any of
the Company's or any Major Subsidiary's customers, suppliers, service providers,
joint venture partners, licensees and competitors.

          3.12. Agreements; Actions.

               (a) As of the Effective Date, there are no Contacts (oral or
written) or proposed transactions to which the Company or any Major Subsidiary
is a party or by which any of them is bound that may involve (i) obligations
(contingent or otherwise) of, or payments to the Company or any Major Subsidiary
in excess of, $5,000,000, (ii) indemnification by the Company or any Major
Subsidiary of any person or entity with respect to infringement of Proprietary
Rights outside the ordinary course of the Company's or any Major Subsidiary's
business, (iii) the acquisition, lease, sublease, license, transfer or
assignment of BRS or EBS spectrum, (iv) the license of any patent, copyright,
trade secret or other proprietary right to or from the Company or any Major
Subsidiary, other than standard end-user object code license agreements, or (v)
the granting of any rights or any provisions that, individually or in the
aggregate, materially restrict or adversely affect the development, manufacture,
production, assembly, licensing, marketing, distribution or sale of the
Company's or any Major Subsidiary's products or services (each a "MATERIAL
CONTRACT" and, collectively, the "MATERIAL CONTRACTS").

               (b) Neither the Company nor any Major Subsidiary has (i) declared
or paid any dividends or authorized or made any distribution upon or with
respect to any class or series of its capital stock, (ii) incurred any
indebtedness for money borrowed or any other liabilities individually in excess
of $5,000,000 or, in the case of indebtedness and/or liabilities individually
less than $5,000,000, in excess of $10,000,000 in the aggregate, (iii) made any
loans or advances to any person, other than ordinary advances for travel or
other out-of-pocket expenses, or (iv) sold, exchanged or otherwise disposed of
any of its assets or rights, other than the sale of its inventory in the
ordinary course of business. For the purposes of this Section 3.12(b), all
indebtedness, liabilities, Contracts or transactions subject to a binding
agreement or understanding involving the same person or entity (including,
without limitation, persons or entities the Company has reason to believe are
affiliated with each other) shall be aggregated for the purpose of meeting the
individual minimum dollar amounts of this Section 3.12(b).

               (c) Each of the Material Contracts is a valid, binding and
enforceable obligation of the Company or such Major Subsidiary, as the case may
be, and, to the knowledge

                                       11

<PAGE>

of the Company, of the other party or parties thereto, in each case, enforceable
in accordance with its terms, subject, as to enforcement of remedies, to
applicable bankruptcy, insolvency, moratorium, reorganization and similar Laws
affecting creditors' rights generally and to general equitable principles, and
is in full force and effect. Neither the Company, nor any Major Subsidiary is in
material default or breach of or in non-compliance with any term of any Material
Contract, nor, to the Company's knowledge, does any other party to a Material
Contract consider the Company or such Major Subsidiary to be in default or
breach of or in non-compliance with any term of such Material Contract, nor, to
the knowledge of the Company, is there any basis for any of the foregoing. To
the Company knowledge, no other party to a Material Contract is in default or
breach of or in non-compliance with any term of such Material Contract, except
as would not have or result in, individually or in the aggregate, a Material
Adverse Effect.

               (d) No employee, officer, director, stockholder or equityholder
of the Company or any Major Subsidiary or any member of his or her immediate
family is indebted to the Company or any Major Subsidiary, nor is the Company or
any Major Subsidiary indebted (or committed to make loans or extend or guarantee
credit) to any of them, other than in connection with expenses or advances of
expenses incurred in the ordinary course of business or employee relocation
expenses.

          3.13. Disclosure. The Company has fully provided Purchaser with all of
the information that Purchaser has requested for deciding whether to acquire the
Shares. None of this Agreement (including, without limitation and as qualified
by all exhibits and schedules hereto), the Transaction Agreements or any other
written statements or certificates made by or on behalf of the Company or any
Major Subsidiary in connection with this Agreement or any of the Transaction
Agreements or any of the transactions contemplated hereby or thereby, contains
any untrue statement of a material fact or omits to state a material fact
necessary to be stated therein or necessary in order to make the statements
herein or therein not misleading in light of the circumstances under which they
were made.

          3.14. Intellectual Property.

               (a) Proprietary Rights. The Company and the Major Subsidiaries
have good title and ownership of, or have exclusive, perpetual license to, all
patents, patent applications, trademarks, service marks, trade names,
copyrights, maskworks, trade secrets, information, proprietary rights, designs,
processes and similar intellectual property (collectively, the "PROPRIETARY
RIGHTS") necessary to enable them to carry on their respective business as now
conducted and as presently proposed to be conducted without any conflict with or
infringement of the rights of others. No third party has any ownership right,
title, interest, claim in, encumbrance or Lien on any of the Company's or any
Major Subsidiary's Proprietary Rights and the Company and each Major Subsidiary
has taken all steps reasonably necessary to preserve its legal rights in, and
the secrecy, confidentiality and value of, all its Proprietary Rights, except
for disclosure which is required for legitimate business or legal reasons.
Schedule 3.14(a) of the Schedule of Exceptions contains with respect to
Proprietary Rights of the Company and/or any Major Subsidiary, a true, correct
and complete list of (i) each patent and patent application, the patent number
or application serial number for each jurisdiction in which filed, the
jurisdiction, date filed or issued, and present status thereof; (ii) each
trademark, service mark and trade name,

                                       12

<PAGE>

whether registered, applied for and unregistered, and if registered or applied
for, the application serial number or registration number (if registered) for
each jurisdiction in which filed, the jurisdiction, date filed or issued,
present status thereof, and the class of goods covered or the nature of the
goods or services, (iii) for any URL or domain name, the registration date, any
renewal date and name of registry; and (iv) for each registered copyrighted
work, the number and date of registration for each country, province and state,
in which a copyright application has been registered. The Company and the Major
Subsidiary's own all of such Proprietary Rights free and clear of all Liens,
licenses and other encumbrances. No Company or any Major Subsidiary patent,
patent application, registered trademark, service mark and trade name nor
registered copyrighted work has been or is currently involved in any
interference, reissue, reexamination, opposition, cancellation or similar
proceeding and, to the Company's knowledge, no such action is or has been
threatened with respect to any of the foregoing.

               (b) Licenses; Other Agreements. Neither the Company or any Major
Subsidiary has granted, and there are not outstanding, any options or Contracts
of any kind relating to any Proprietary Rights of the Company or any Major
Subsidiary, nor is the Company or any Major Subsidiary bound by or a party to
any option or Contract of any kind with respect to any of its respective
Proprietary Rights. Neither the Company or any Major Subsidiary is in violation
of, or by conducting its business as now conducted or as presently proposed to
be conducted, would violate, any licenses with respect to the Proprietary Rights
to which the Company or any Major Subsidiary is a party to, including, without
limitation, any software licenses or open source licenses.

               (c) No Infringement. To the Company's knowledge, neither the
Company nor any Major Subsidiary (i) has violated or infringed, (ii) is
currently violating or infringing or (iii) by conducting its respective business
as presently proposed to be conducted, will violate or infringe, any of the
Proprietary Rights of any other person or entity. Neither the Company nor any
Major Subsidiary has received any written or, to the Company's knowledge, verbal
communications alleging that the Company or any Major Subsidiary (or any of its
employees or consultants) has violated or infringed or, by conducting its
business as now conducted or as presently proposed to be conducted, would
violate or infringe, any Proprietary Rights of any other person or entity nor,
to the Company's knowledge, is there any factual or legal basis therefor. To the
Company's knowledge, no person or entity has violated or infringed or is
currently violating or infringing any of the Company's or any Major Subsidiary's
Proprietary Rights.

               (d) Licenses from Third Parties; Royalties; Open Source Software.
Other than with respect to commercially available software products under
standard end-user object code license agreements, neither the Company nor any
Major Subsidiary is bound by or a party to any options or Contracts of any kind
relating to the Proprietary Rights of any person or entity. Neither the Company
nor any Major Subsidiary is obligated to pay any royalties or other payments to
any person or entity with respect to the marketing, sale, distribution,
manufacture, license or use of any Proprietary Rights in connection with the
conduct of the Company's or any Major Subsidiary's business. Neither the Company
nor any Major Subsidiary has embedded any open source, copyleft or community
source code in any of its products generally available or in

                                       13

<PAGE>

development, including, but not limited to, any libraries or code licensed under
any General Public License, Lesser General Public License or similar license
arrangement.

               (e) Employee NDAs. Each current and former officer, employee and
consultant of the Company or any Major Subsidiary, including, without
limitation, each Key Employee, has executed in the Company's favor a standard
agreement regarding confidentiality and proprietary information used by the
Company or any Major Subsidiary and assignment of intellectual property rights
in favor of the Company and/or any such Major Subsidiary substantially in the
form of the Employee Non-Compete Agreement attached to this Agreement as Exhibit
D, and all such agreements are in full force and effect. To the Company's
knowledge, none of its current or former employees, officers and consultants is
in violation thereof. No such person has excluded works or intellectual property
rights made prior to his or her employment or other contractual relationship
with the Company or any Major Subsidiary from his or her assignment of
inventions pursuant to such agreement. Subject to any limitations on such
vesting imposed by applicable Law, full title and ownership of all inventions
and proprietary rights, processes or methods developed or invented by any and
all employees and consultants of the Company or any Major Subsidiary during the
period of their employment and/or consultancy and resulting directly or
indirectly from their work for the Company or any Major Subsidiary vest in the
Company or such Major Subsidiary pursuant to each such agreement.

               (f) No Breach by Employee. To the Company's knowledge, (i) none
of the Company's or any Major Subsidiary's employees or consultants are
obligated under any Contract of any nature or subject to any Order of any court
or Governmental Authority, or any other restriction that would interfere with
the use of his or her best efforts to carry out his or her duties for the
Company or any Major Subsidiary or to promote the interests of the Company or
any Major Subsidiary or that would conflict with the Company's or any Major
Subsidiary's business as now conducted and as presently proposed to be conducted
and (ii) none of the Company's or any Major Subsidiary's employees or
consultants is, by virtue of such employee's or consultant's activities in
connection with the Company's or any Major Subsidiary's business, infringing, or
misappropriating any Proprietary Rights of any former employer of such employee
or consultant. Neither the execution or delivery of this Agreement or the
Transaction Agreements, nor the carrying on of the Company's or any Major
Subsidiary's business by the employees and consultants of the Company or any
Major Subsidiary, nor the conduct of the Company's or any Major Subsidiary's
business will, to the Company's knowledge, conflict with or result in a breach
of the terms, conditions or provisions of, or constitute a default under, any
Contract, covenant or instrument under which any of such employees or
consultants or the Company or any Major Subsidiary is now obligated. It will not
be necessary for the Company or any Major Subsidiary to utilize any inventions
of any of the employees of the Company or any Major Subsidiary (or persons the
Company or any Major Subsidiary currently intends to hire) made prior to or
outside the scope of their employment by the Company or such Major Subsidiary to
enable the Company or any Major Subsidiary to carry on its respective business
as now conducted and as presently proposed to be conducted. To the Company's
knowledge, at no time during the conception of or reduction of any of the
Company's or any Major Subsidiary's Proprietary Rights to practice was any
developer, inventor or other contributor to the Company's or any Major
Subsidiary's patents operating under any grants from any governmental entity or
agency or private source, performing research sponsored by any governmental
entity or agency

                                       14
<PAGE>

or private source or subject to any employment agreement or invention assignment
or nondisclosure agreement or other obligation with any third party that could
adversely affect the Company's or any Major Subsidiary's rights in such
Proprietary Rights.

               (g) Neither (A) the wireless broadband services offered by the
Company or any Major Subsidiary, nor (B) any systems or data bases of the
Company or any Major Subsidiary or any information contained thereon, have
experienced (i) any failures, including, without limitation, those related to
the continuous provision of service, (ii) any breaches of security or (iii) any
instances of hacking which would have or result in, individually or in the
aggregate, a Material Adverse Effect.

          3.15. Financial Statements. The Company has delivered to Purchaser the
audited consolidated financial statements of the Company (balance sheet and
income statement, statement of shareholders' equity and statement of cash flows)
as of December 31, 2003, December 31, 2004 and December 31, 2005 and for the
fiscal years then ended and unaudited financial statements (balance sheet and
income statement) as of March 31, 2006 and for the three months then ended (the
"FINANCIAL STATEMENTS"). The Financial Statements (i) are in accordance with the
books and records of the Company and the Subsidiaries (which are true and
complete in all material respects), and (ii) have been prepared in accordance
with generally accepted accounting principles applied on a consistent basis
throughout the periods indicated, except that the unaudited Financial Statements
do not contain all footnotes and normal year-end audit adjustments that are not,
individually or in the aggregate, material. The Financial Statements fairly
present in all material respects the financial condition and operating results
of the Company and the Subsidiaries as of the dates, and for the periods,
indicated therein, subject to normal audit adjustments with respect to the March
31 2006 Financial Statements. Except as set forth in the Financial Statements,
neither the Company nor any Subsidiary has any debts, liabilities or obligations
of any nature, whether due or to become due, (including, without limitation,
absolute liabilities, accrued liabilities, and contingent liabilities) or with
respect to which the Company or any Subsidiary has otherwise become directly or
indirectly liable, other than (i) liabilities incurred in the ordinary course of
business subsequent to March 31, 2006, and (ii) liabilities and obligations
under contracts and commitments incurred in the ordinary course of business and
not required under generally accepted accounting principles to be reflected in
the Financial Statements, which, in all such cases, individually or in the
aggregate, would not have or result in a Material Adverse Effect.

          3.16. Indebtedness; Guarantees. Schedule 3.16 of the Schedule of
Exceptions identifies, as of the Effective Date, all outstanding loans, debts,
notes, mortgages, indentures, security agreements, commitments and other
obligations of the Company or any Major Subsidiary individually in excess of
$5,000,000 or, in the case of such obligations individually less than
$5,000,000, in excess of in the aggregate $10,000,000 (collectively, the
"OBLIGATIONS"). Neither the Company nor any Major Subsidiary is in default under
(or has received any notice that it has breached or committed any default under)
any of the Obligations, and no event or condition has occurred which, with the
lapse of time or the giving of notice, or both, would constitute such a default.
Neither the Company nor any Subsidiary is a guarantor or indemnitor of any
indebtedness of any person or entity, including, without limitation, any
Subsidiary that is not wholly-owned.

                                       15
<PAGE>

          3.17. Permits. The Company and the Major Subsidiaries have all
franchises, permits, Consents, licenses, leases and any similar authority
necessary for the conduct of its business as now being conducted, and the
Company believes it can obtain, without undue burden or expense, any similar
authority for the conduct of its business as presently proposed to be conducted.
Neither the Company nor any Major Subsidiary is in default in any respect under
any of such franchises, permits, Consents, licenses, leases or other similar
authority.

          3.18. Absence of Certain Events. Since March 31, 2006, there has not
been:

               (i) any change in the assets, liabilities, financial condition or
operating results of the Company or any Subsidiary from that reflected in the
Financial Statements, except changes in the ordinary course of business that
have not had and would not have or result in, individually or in the aggregate,
a Material Adverse Effect;

               (ii) any material damage, destruction or loss, whether or not
covered by insurance, that has had or would have or result in, individually or
in the aggregate, a Material Adverse Effect;

               (iii) any waiver, compromise or default by the Company or any
Subsidiary of a valuable right or of an Obligation or other material debt or
obligation owed to it;

               (iv) any satisfaction or discharge of any Lien or payment of any
obligation by the Company or any Subsidiary, except in the ordinary course of
business and that is not material to the assets, properties, financial
condition, operating results or business of the Company and its Subsidiaries
taken together;

               (v) any transfer of or granting of any security interest in any
material asset of the Company or any Subsidiary;

               (vi) any change or amendment to a Material Contract or other
material arrangement by which the Company or any Major Subsidiary or any of
their respective assets or properties is bound or subject;

               (vii) any change in any compensation arrangement or Contract with
any present or prospective Key Employee, officer or director of the Company or
any Subsidiary, other than changes in the ordinary course of business that do
not exceed $25,000 on an annual basis for any individual Key Employee, officer
or director;

               (viii) any resignation or termination of the employment of any
Key Employee or director of the Company or any Major Subsidiary;

               (ix) any Lien, created by the Company or any Major Subsidiary,
with respect to any of its properties or assets, except Liens for taxes not yet
due or payable and Liens that arise in the ordinary course of business and do
not materially impair the Company's or any Major Subsidiary ownership or use of
such property or assets;

                                       16

<PAGE>

               (x) any loans or guarantees made by the Company or any Subsidiary
to or for the benefit of its employees, officers or directors, or any members of
their immediate families, other than travel advances and other advances made in
the ordinary course of its business;

               (xi) any declaration, setting aside or payment or other
distribution in respect of any capital stock of the Company's or any Subsidiary
that is not wholly-owned by the Company, or any direct or indirect redemption,
purchase, or other acquisition of any of such stock by the Company or any such
Subsidiary;

               (xii) any sale, assignment or transfer of any Company's or any
Major Subsidiary's Proprietary Rights;

               (xiii) receipt of notice that there has been a loss of, or
material order cancellation by, any major customer of the Company or any Major
Subsidiary;

               (xiv) any other events or conditions of any character which would
have or result in, individually or in the aggregate, a Material Adverse Effect;
or

               (xv) any Contract or commitment by the Company or any Subsidiary
to do any of the things described in this Section 3.18.

          3.19. Environmental Matters. Neither the Company nor any Major
Subsidiary is in violation of any applicable Law relating to the environment or
occupational health and safety, and no material expenditures are or will be
required in order to comply with any such existing Law. During the period that
the Company or any Major Subsidiary has owned, licensed or leased its properties
and facilities, (a) there have been no disposals, releases or threatened
releases of Hazardous Materials (as defined below) on, from or under such
properties or facilities, (b) neither the Company nor any Major Subsidiary nor,
to the Company's knowledge, any third party, has used, generated, manufactured
or stored on, under or about such properties or facilities or transported to or
from such properties or facilities any Hazardous Materials. To the Company's
knowledge, there have been no disposals, releases or threatened releases of, of
nor the presence of any, Hazardous Materials on, from or under any of such
properties or facilities, which may have occurred prior to the Company or any
Major Subsidiary having taken possession of any of such properties or
facilities. For the purposes of this Section 3.19, the terms "disposal,"
"release," and "threatened release" shall have the definitions assigned thereto
by the Comprehensive Environmental Response, Compensation and Liability Act of
1980, 42 U.S.C. Section 9601 et seq., as amended ("CERCLA"). For the purposes of
this Section 3.19, "HAZARDOUS MATERIALS" shall mean any hazardous or toxic
substance, material or waste which is regulated under, or defined as a
"hazardous substance," "pollutant," "contaminant," "toxic chemical," "hazardous
material," "toxic substance," or "hazardous chemical" under (i) CERCLA; (ii) the
Emergency Planning and Community Right-to-Know Act, 42 U.S.C. Section 11001 et
seq.; (iii) the Hazardous Materials Transportation Act, 49 U.S.C. Section 5101,
et seq.; (iv) the Toxic Substances Control Act, 15 U.S.C. Section 2601 et seq.;
(v) the Occupational Safety and Health Act of 1970, 29 U.S.C. Section 651 et
seq.; (vi) regulations promulgated under any of the above statutes; or (vii) any
applicable state or local statute,

                                       17

<PAGE>

ordinance, rule, or regulation that has a scope or purpose similar to those
statutes identified above.

          3.20. Insurance. The Company and the Major Subsidiaries maintain
insurance issued by insurers of recognized financial responsibility of the types
and in the amounts that are adequate for its businesses and consistent with
insurance coverage maintained by similar companies in similar businesses,
including, but not limited to, insurance covering directors and officers, errors
and omissions, commercial general liability, products liability and real and
personal property owned or leased by the Company or any Major Subsidiary against
theft, damage, destruction, acts of vandalism and all other risks customarily
insured against, all of which insurance is in full force and effect. The Company
and/or each Major Subsidiary is in compliance with the terms of all such
insurance policies, except to the extent that any such non-compliance could
result in the suspension or termination of such insurance policy, and has not
received notice of default under any such insurance policy or received notice of
any pending or threatened termination or cancellation, coverage limitation or
reduction or premium increase with respect to any such insurance policy, and the
Company has no reason to believe that it will not be able to renew its existing
insurance coverage as and when such coverage expires or to obtain similar
coverage from similar insurers as may be necessary to continue its business
without a material increase in cost or risk. Neither the Company nor any Major
Subsidiary has during the past three fiscal years been denied any insurance
coverage which it has sought or for which it has applied.

          3.21. Certain Business Practices. Neither the Company nor any Major
Subsidiary nor any officer, director, agent or employee purporting to act on
behalf of the Company or any Major Subsidiary has at any time, directly or
indirectly, (i) made, provided or paid any unlawful contributions, gifts,
entertainment or other unlawful expenses to any candidate for political office,
or failed to disclose fully any such contributions in violation of Law, (ii)
made any payment to any local, state, federal or foreign governmental officer or
official, or other person charged with similar public or quasi-public duties,
other than payments required or allowed by applicable Law (including, without
limitation, the Foreign Corrupt Practices Act of 1977, as amended), (iii) made
any payment to any agent, employee, officer or director of any entity to which
the Company or any Major Subsidiary does business for the purpose of influencing
such agent, employee, officer or director to do business with the Company or
such Major Subsidiary, (iv) engaged in any transactions, maintained any bank
account or used any corporate funds, except for transactions, bank accounts and
funds which have been and are reflected in the normally maintained books and
records of the Company and/or such Major Subsidiary, (v) violated any provision
of the Foreign Corrupt Practices Act of 1977, as amended, or (vi) made any
payment in the nature of criminal bribery or any other unlawful payment.

          3.22. Employee Matters.

               (a) Agreements; "At will" Employment. As of the Effective Date,
the Company and the Major Subsidiaries employ that number of full-time employees
and that number of part-time employees and engage that number of consultants or
independent contractors as set forth on Schedule 3.22(a) to the Schedule of
Exceptions. All of the employees of the Company in the United States are
employed by the Company or Clearwire US LLC.

                                       18

<PAGE>

Other than (i) standard director and officer indemnification agreements approved
by the Board of the Company, (ii) with regard to the purchase of shares of the
Company's Class A Common Stock and the issuance of options to purchase shares of
the Company's Class A Common Stock, in each instance, approved by the Board of
the Company or a committee to which the Board of the Company has delegated the
responsibility, and (iii) agreements disclosed in Schedule 3.22(a)(iii) of the
Schedule of Exceptions, there are no Contracts or proposed transactions between
the Company or any Major Subsidiary and any of their respective its employees,
officers or directors. No employee of the Company or any Major Subsidiary has
been granted the right to continued employment and the employment of each
employee is terminable at the will of the Company or such Major Subsidiary and
the employee.

               (b) Severance Agreements. No plan, policy, practice, program or
Contract between the Company or any Major Subsidiary and any employee provides
for the payment of compensation, severance benefits or continuation of benefits
(other than as required by COBRA) as the result of (i) termination of employment
or consulting services (whether actual or constructive); (ii) any merger,
consolidation, sale of stock or assets, change in control or any other
transaction(s) by the Company or any Major Subsidiary; or (iii) the occurrence
of any other event or combination of events.

               (c) Compliance with Laws; Withholding Obligations. Neither the
Company nor any Major Subsidiary is delinquent in payments to any of its
employees, consultants, or independent contractors for any wages, salaries,
commissions, bonuses, or other direct compensation for any service performed for
it or amounts required to be reimbursed to such employees, consultants, or
independent contractors. To the Company's knowledge, the Company and the Major
Subsidiaries have complied with all applicable state and federal equal
employment opportunity Laws and with other Laws related to employment including,
but not limited to, those related to wages, hours, worker classification, and
collective bargaining, and the Company is not aware of any pending demand
letters, charge, claims or lawsuits alleging violations of such Laws. The
Company and the Major Subsidiaries have withheld and paid to the appropriate
governmental entity or is holding for payment not yet due to such governmental
entity all amounts required to be withheld from employees of the Company or any
Major Subsidiary including, but, not limited to, federal income taxes, Federal
Insurance Contribution Act taxes and Federal Unemployment Tax Act taxes required
to be withheld or collected therefrom, and is not liable for any arrears of
wages, taxes, penalties, or other sums for failure to comply with any of the
foregoing.

               (d) Employee Departures. To the Company's knowledge, no officer
or Key Employee intends to terminate employment with the Company or any Major
Subsidiary or is otherwise likely to become unavailable to continue as an
officer or employee, nor does the Company or any Major Subsidiary have a present
intention to terminate the employment of any of the foregoing. Schedule 3.22(d)
of the Schedule of Exceptions lists those individuals who are agreed to be
"officers" and/or "key employees" of the Company and the Major Subsidiaries (the
"KEY EMPLOYEES") for the purposes of this Agreement.

               (e) Equity Incentives. Neither the Company nor any Major
Subsidiary has made any representations regarding equity incentives to any
officer, employees, director or

                                       19

<PAGE>

consultant that are inconsistent with the share amounts and terms set forth in
the minutes and actions by written consent of Board of the Company.

               (f) Termination of Employment; Release of Claims. Each former
officer or key employee whose employment was terminated by the Company or a
Major Subsidiary has entered into an agreement with the Company or such Major
Subsidiary providing for the full release of any claims against the Company,
Major Subsidiary and any related party arising out of such employment.

               (g) Employee Benefit Plans. Section 3.22(g) of the Schedule of
Exceptions sets forth each employee benefit plan maintained, established or
sponsored by the Company or any Major Subsidiary, or which the Company or any
Major Subsidiary participates in, contributes to or is subject to and further
indicates which plans are subject to the Employee Retirement Income Security Act
of 1974, as amended ("ERISA"). The Company and each Major Subsidiary has made
all required contributions and has no liability to any such employee benefit
plan, other than contributions that are in the process of being completed on a
timely basis and liability for health plan continuation coverage described in
Part 6 of Title I(B) of ERISA, and has complied in all material respects with
all applicable Laws for any such employee benefit plan.

               (h) Organized Labor. Neither the Company nor any Major Subsidiary
is bound by or subject to (and none of its assets or properties is bound by or
subject to) any written or oral, express or implied, contract, commitment or
arrangement with any labor union, and no labor union has requested or, to the
Company's knowledge, has sought to represent any of the employees,
representatives or agents of the Company or any Major Subsidiary. There is no
strike or other labor dispute involving the Company or any Major Subsidiary
pending, or to the Company's or any Major Subsidiary's knowledge, threatened,
nor is the Company or any Major Subsidiary aware of any labor organization
activity involving its employees.

               (i) Actions Against Officers and Directors. To the Company's
knowledge, none of the directors of the Company or any Major Subsidiary or the
Key Employees has been (i) subject to voluntary or involuntary petition under
the federal bankruptcy Laws or any state insolvency Law or the appointment of a
receiver, fiscal agent or similar officer by a court for his or her business or
property, or any partnership in which he or she was a general partner or any
corporation or business association of which he or she was an executive officer;
(ii) convicted in a criminal proceeding or named as a subject of a pending
criminal proceeding (excluding traffic violations and other minor offenses);
(iii) subject to any Order (not subsequently reversed, suspended, or vacated) of
any court of competent jurisdiction permanently or temporarily enjoining him
from engaging, or otherwise imposing limits or conditions on his engagement in
any securities, investment advisory, banking, insurance, or other type of
business or acting as an officer or director of a public company; or (iv) found
by a court of competent jurisdiction in a civil action or by the SEC or the
Commodity Futures Trading Commission to have violated any federal or state
securities, commodities, or unfair trade practices Law, which such judgment or
finding has not been subsequently reversed, suspended, or vacated.

                                       20

<PAGE>

          3.23. FCC Matters.

               (a) The Company and its direct or indirect Subsidiaries, Fixed
Wireless Holding, LLC, Clearwire Spectrum Holdings LLC, Winbeam Inc., Jonsson
Communications Corporation, Craig Wireless Honolulu, Unison Wireless, Inc.,
Clearwire Technologies, Inc., Clearwire Spectrum Corp. and Clearwire
Communications, Inc. (collectively, the "COMPANY FCC LICENSE HOLDERS") validly
hold the Federal Communications Commission ("FCC") licenses, permits and
authorizations set forth on Schedule 3.23(a) of the Schedule of Exceptions (the
"COMPANY FCC AUTHORIZATIONS"), true and correct copies of which have been made
available to Purchaser. Schedule 3.23(a) of the Schedule of Exceptions sets
forth all of the licenses, permits and authorizations issued by the FCC that are
currently held by the Company or any of the Subsidiaries.

               (b) The Company FCC License Holders' wireless systems operating
in whole or in part on BRS spectrum or EBS spectrum (the "SYSTEMS") utilize
spectrum licensed by the FCC to third parties (each a "LESSOR") that is made
available for use by the Company FCC License Holders under certain spectrum
leases, subleases, capacity use agreements or other similar arrangements between
the Company FCC License Holders and the Lessors (each such arrangement, together
with all together with all amendments, waivers, notices, and ancillary
agreements related thereto (whether written or oral), a "SPECTRUM LEASE").
Schedule 3.23(b) of the Schedule of Exceptions sets forth for each Spectrum
Lease: (i) name of the Lessor and the Lessee, (ii) whether such lease is a De
Facto Transfer Lease entered into pursuant to Section 1.9010 of the FCC's Rules,
a Spectrum Manager Lease entered into pursuant to Section 1.9020 of the FCC's
Rules or a "grandfathered" lease pursuant to Section 27.1214 or Section 27.1215
of the FCC's Rules; (iii) the specific channel names and number of channels
covered by such Spectrum Lease; (iv) the call sign and geographic market for
each FCC license, permit and authorization that is covered by such Spectrum
Lease (collectively, the "LEASED FCC AUTHORIZATIONS"); and (v) the expiration
date of each Leased FCC Authorization. Schedule 3.23(b) sets forth all of the
Spectrum Leases that are currently held by the Company or any of the
Subsidiaries and each of the Leased FCC Authorizations thereunder. True and
correct copies of all Spectrum Leases and Leased FCC Authorizations have been
made available to Purchaser

               (c) The Company FCC Authorizations and the Leased FCC
Authorizations (collectively, the "FCC AUTHORIZATIONS") have been granted to the
Company FCC License Holders or the applicable Lessor by Final Order, are in full
force and effect and have not been revoked, suspended, cancelled, rescinded, or
terminated. No FCC Authorization has expired (except for any FCC Authorization
that has expired but for which a timely-filed renewal application is currently
pending before the FCC). To the Company's knowledge, each FCC Authorization was
duly and validly issued by the FCC pursuant to procedures which comply with all
requirements of applicable Law, including, without limitation, the FCC's Rules.
There is not pending, or to the Company's knowledge threatened, anticipated or
reasonably likely if facts or circumstances known to the Company were brought to
the attention of the FCC, any action by or before the FCC that questions the
validity of any FCC Authorization or seeks (i) to revoke, suspend, cancel,
rescind or modify any of the FCC Authorizations, except for routine
modifications set forth on Schedule 3.23(c) of the Schedule of Exceptions or
(ii) to impair the ability of the Company FCC License Holders to utilize the
spectrum covered by the FCC

                                       21

<PAGE>

Authorizations (other than proceedings to amend FCC rules of general
applicability). There is not now issued or outstanding or pending or to the
Company's knowledge, threatened, anticipated or reasonably likely if facts or
circumstances known to the Company were brought to the attention of the FCC, by
or before the FCC, any order to show cause, notice of violation, notice of
apparent liability, or notice of forfeiture or complaint against the Company FCC
License Holders, any Lessor, or relating to any FCC Authorization or any System,
except where the existence of such would not have or result in, or would not be
reasonably likely to have or result in, individually or in the aggregate, a
Material Adverse Effect. "FINAL ORDER" means an Action or decision of the FCC as
to which (A) no request for a stay or similar request is pending, no stay is in
effect, the Action or decision has not been vacated, reversed, set aside,
annulled or suspended and any deadline for filing such request that may be
designated by Law, has passed, (B) no petition for rehearing or reconsideration
or application for review is pending and the time for the filing of any such
petition or application has passed, (C) the FCC does not have the Action or
decision under reconsideration on its own motion and the time within which it
may effect such reconsideration has passed, and (D) no appeal is pending
including, without limitation, other administrative or judicial review, or in
effect and any deadline for filing any such appeal that may be designated by Law
has passed.

               (d) No applications are currently pending before the FCC related
to the FCC Authorizations or the Spectrum Leases. Each such application has been
timely filed with the FCC accompanied by payment of such fees as may be
required. No petition to deny or other objection has been filed with the FCC
against any such application, to the Company's knowledge no such petition or
other objection has been threatened, and no reasonable basis exists for the
filing of any such petition or other objection by any party or the FCC on its
own motion.

               (e) All applications, notices, reports and filings required to be
filed by the Company FCC License Holders and, to the Company's knowledge, each
Lessor with the FCC have been timely filed. All applications, notices, reports
and filings by the Company FCC License Holders are true, accurate and complete.
To the Company's knowledge, all such reports and filings by each Lessor are
true, accurate and complete. To the Company's knowledge, all regulatory fees,
payments to the Universal Service Fund, if any, and other fees or payments
required to be paid by the Company FCC License Holders and each Lessor pursuant
to the FCC's Rules have been timely filed and paid, except where the failure to
make such timely payment would not have or result in, individually or in the
aggregate, a Material Adverse Effect

               (f) Each Spectrum Lease is in full force and effect, is free from
any claims, liabilities or Liens and is unimpaired by any acts or omissions of
the Company FCC License Holders. The Company FCC License Holders have a valid
leasehold interest in each Spectrum Lease. With respect to each Spectrum Lease,
the Company FCC License Holders have complied in all material respects with all
of the terms and conditions of the Spectrum Lease since entering into or
assuming such Spectrum Lease, the Lessor has not provided the Company FCC
License Holders with any notice of default or otherwise notified the Company FCC
License Holders that it considers the Spectrum Lease to have been breached
(except for such breaches that would not have or result in, individually or in
the aggregate, a Material Adverse Effect), and the Company FCC License Holders
are entitled to exercise all of the rights to which the

                                       22

<PAGE>

Company FCC License Holders are entitled under the terms of the Spectrum Lease.
To the best of Company's knowledge, no facts or circumstances exist that would
permit the Lessor to terminate any Spectrum Lease upon the requisite notice to
the Company FCC License Holders. To the best of Company's knowledge, the Lessor
under each Spectrum Lease has complied in all material respects with all of the
terms and conditions of the Spectrum Lease, and the Company FCC License Holders
have not notified any Lessor that it considers the Spectrum Lease to have been
breached. Each Spectrum Lease permits the Company FCC License Holders to utilize
the spectrum covered by the Leased FCC Authorization(s) to provide two-way
broadband data services to subscribers, except for such Spectrum Leases that
afford the Company FCC License Holders use of spectrum that collectively
represents less than five percent (5%) of the FCC Authorizations, measured on
the basis of MHz/pops; provided, however, that no Spectrum Lease fails to permit
the Company FCC License Holders to utilize the spectrum covered by the Leased
FCC Authorization(s) to provide two-way broadband data services to subscribers
where such failure would materially restrict or adversely affect the
development, manufacture, production, assembly, licensing, marketing,
distribution or sale of the Company's or any Majority Subsidiary's products or
services within the geographic area subject to such Spectrum Lease. To the
Company's knowledge, no person or entity, other than the Company FCC License
Holders and the Lessor, has asserted any right to utilize any Leased FCC
Authorization or the spectrum licensed thereunder. Each Spectrum Lease complies
with all applicable Laws, including, without limitation, the FCC's Rules.

               (g) Neither any Company FCC License Holder nor any Lessor is
bound by any Contracts or other understandings relating to the assignment,
transfer, conveyance or pledge of any FCC Authorization or any Spectrum Lease,
in whole or in part, or any interest therein.

               (h) Neither any Company FCC License Holder nor, to the Company's
knowledge, any Lessor is subject to any Contract or other understanding
restricting its ability to deploy and operate facilities that would otherwise be
permitted pursuant to the FCC Authorizations and the FCC's Rules or to construct
and operate facilities utilizing any particular technical parameters; and (ii)
neither any Company FCC License Holder nor, to the Company's knowledge, any
Lessor is bound by any Contract or other understanding pursuant to which it is
obligated to accept electromagnetic interference to the facilities authorized
under any FCC Authorization (other than FCC rules of general applicability), to
restrict the manner in which facilities authorized under any FCC Authorization
are operated, or to otherwise mitigate or eliminate interference, except for
such Contracts that do not materially restrict or adversely affect the
development, manufacture, production, assembly, licensing, marketing,
distribution or sale of the Company's or any Majority Subsidiary's products or
services within the geographic area subject to such Contract.

               (i) The Company FCC License Holders and, to the Company's
knowledge, all Lessors currently are in compliance in all material respects with
all applicable Laws governing operations under the FCC Authorizations
(including, without limitation, the FCC's Rules governing the construction and
operation of facilities and eligibility for and the leasing of Educational
Broadband Service authorizations) and have been at all times since the
applicable Company FCC License Holder acquired the Company FCC Authorization or
entered

                                       23

<PAGE>

into or assumed the Spectrum Lease, as the case may be. None of the Systems are
operating pursuant to special temporary authority, developmental authority or
experimental authority issued by the FCC.

     4. REPRESENTATIONS AND WARRANTIES OF PURCHASER

     Purchaser hereby represents and warrants to the Company as follows:

          4.1. Authorization. All corporate action on the part of Purchaser, its
officers, directors and shareholders necessary for the authorization, execution
and delivery of, and the performance of all obligations of Purchaser under this
Agreement and the Transaction Agreements and necessary for the consummation of
the transactions contemplated hereby and thereby. The execution, delivery and
performance by Purchaser of this Agreement and the Transaction Agreements and
the consummation of the transactions contemplated hereby and thereby will not
conflict with or constitute or result in, with or without the passage of time or
the giving of notice or both, either a violation, breach or default by Purchaser
of (i) any Order of any Government Authority or (ii) any constituent documents
of Purchaser. This Agreement and the Transaction Agreements when executed and
delivered by Purchaser will constitute a valid and legally binding obligation of
Purchaser enforceable in accordance with its terms, subject, as to enforcement
of remedies, to applicable bankruptcy, insolvency, moratorium, reorganization
and similar Laws affecting creditors' rights generally and to general equitable
principles and, with regard to the indemnification provisions contained in the
Investor Rights Agreement, to the extent such indemnification provisions may be
limited by applicable federal and state securities Laws and principles of public
policy.

          4.2. Investigation; Economic Risk. Purchaser has had an opportunity to
discuss the Company's business, management, financial affairs and the terms and
conditions of the offering with the Company's management and has had an
opportunity to review the information provided by the Company. The foregoing,
however, does not limit or modify the representations and warranties of the
Company in Section 3 of this Agreement or the right of Purchaser to rely
thereon. Purchaser acknowledges that it is able to fend for itself in the
transactions contemplated by this Agreement and has the ability to bear the
economic risks of its investment pursuant to this Agreement.

          4.3. Purchase for Own Account. The Shares will be acquired for
investment for its own account, not as a nominee or agent, and not with a view
to or in connection with the sale or distribution of any part thereof, and that
Purchaser has no present intention of selling, granting any participation in, or
otherwise distributing the same. By executing this Agreement, Purchaser further
represents that it does not have any Contract with any person or entity to sell,
transfer or grant participations to such person or entity or to any third person
or entity, with respect to any of the Shares. The Purchaser has not been formed
for the specific purpose of acquiring any of the foregoing.

          4.4. Exempt from Registration; Restricted Securities. Purchaser
understands that the Shares and the Conversion Shares have not been, and will
not be, registered under the 1933 Act, by reason of a specific exemption from
the registration provisions of the 1933 Act which depends upon, among other
things, the bona fide nature of the investment intent and the

                                       24

<PAGE>

accuracy of Purchaser's representations as expressed herein. Purchaser
understands that the Shares being purchased hereunder are "restricted
securities" within the meaning of Rule 144 under the 1933 Act; that the Shares
and the Conversion Shares are not registered and must be held indefinitely
unless they are subsequently registered or an exemption from such registration
is available.

          4.5. Restrictive Legends. It is understood that each certificate
representing the Shares and the Conversion Shares and any other securities
issued in respect of the any of the foregoing upon any stock split, stock
dividend, recapitalization, merger or similar event shall be stamped or
otherwise imprinted with a legend substantially in the following form:

     THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
     SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE SECURITIES
     LAWS OF ANY STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON
     TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS
     PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT
     TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY
     MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN
     INDEFINITE PERIOD OF TIME. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN
     OPINION OF COUNSEL IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE
     ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE
     WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

          4.6 Removal of Restrictive Legend. The legend set forth above shall be
removed by the Company from any certificate evidencing Shares or the Conversion
Shares upon delivery to the Company of an opinion by counsel, reasonably
satisfactory to the Company, that a registration statement under the 1933 Act is
at that time in effect with respect to the legended security or that such
security can be freely transferred in a public sale pursuant to Rule 144 without
such a registration statement being in effect and that such transfer will not
jeopardize the exemption or exemptions from registration pursuant to which the
Company issued the Shares.

          4.7. Accredited Investor. Purchaser is an "accredited investor" as
defined in Rule 501(a) of Regulation D promulgated under the 1933 Act.

          4.8. No General Solicitation. The Shares were not offered or sold to
Purchaser by any form of general solicitation or general advertising.

     5. COVENANTS OF THE COMPANY

     The Company covenants to Purchaser as follows:

          5.1 Use of Proceeds. The Company agrees that not less than
$200,000,000 of the proceeds from the sale of the Shares will be used for
capital expenditures and operational

                                       25

<PAGE>
expenditures associated with the deployment and operation of a Mobile WiMAX
network in the United States, including, but not limited, to expenditures for
spectrum acquisitions, site acquisition, network construction, and WiMAX CPE and
WiMAX network infrastructure [***]. In order to confirm the expenditure of the
proceeds in the manner set forth above, Purchaser shall have the right to
exercise the audit rights provided to Purchaser in Section 5.6 of the
Collaboration Agreement.

          5.2 Conduct of Business by the Company and the Major Subsidiaries
Pending the Closing. Except as expressly contemplated by this Agreement,
including, without limitation, the Schedule of Exceptions, or the Transaction
Agreements, during the period between the Effective Date and the date of the
Closing, the Company shall use commercially reasonable efforts to, and shall
cause the Major Subsidiaries to carry on its respective business in the ordinary
course of its business in substantially the same manner as currently conducted
and, to the extent consistent therewith, use all commercially reasonable efforts
to preserve intact its respective current business organizations, keep available
the services of its respective current directors, officers and employees and
preserve its relationships with customers, suppliers and others having business
dealings with it to the end that its ongoing business shall be unimpaired at the
date of the Closing.

          5.3 Issuances of Securities. Between the Effective Date and the
earlier of the Closing Date or the thirty first day following the Effective
Date, neither the Company nor any Subsidiary will sell or issue any shares of
Common Stock, or any securities exercisable or exchangeable for, or convertible
into, shares of Common Stock, without the consent of Purchaser, other than (i)
the issuance of shares of Class A Common Stock pursuant to obligations existing
as of the Effective Date, as set forth in Schedule 5.3 of the Schedule of
Exceptions, (ii) the issuance of shares of Class A Common Stock in connection
with future spectrum acquisitions, provided that the valuation of such shares is
not less than $6.00 per share and the total value of the shares issued does not
exceed $57 million in the aggregate (provided, further, that, with respect to
the period between the Effective Date and the date of the Closing, the total
value of shares issued in connection with future spectrum acquisitions shall not
exceed $57 million in the aggregate, unless the shares that are issued in excess
of the $57 million limitation are issued at a valuation of not less than $7.50
per share), (iii) the issuance of up to $300,000,000 in shares of Class A Common
Stock at not less than $6.00 per share, (iv) the issuance of shares of Class A
Common Stock pursuant to the exercise of any preemptive or similar rights
directly or indirectly arising out of this Agreement or the transactions
described in Section 5.3(iii), which rights Eagle River and its affiliates have
validly waived as of the Effective Date and the Company will use commercially
reasonable efforts to cause to be waived by the other holders of such rights,
(v) the issuance of shares of Class A Common Stock upon the exercise of any
options or warrants outstanding on the Effective Date, or (vi) the grant of
stock options under the Company's 2003 Stock Option Plan to employees of the
Company and its Subsidiaries at an exercise price of not less that $6.00 per
shares and subject to a maximum of 1,750,000 shares; provided that at no time
prior to the Closing shall the Company or any Subsidiary sell any shares

[* * * Confidential Treatment Requested]

                                       26

<PAGE>

of Class B Common Stock or any securities exercisable or exchangeable for, or
convertible into, shares of Class B Common Stock other than pursuant to the
exercise of any preemptive or similar rights directly or indirectly arising out
of this Agreement or the transactions described in Section 5.3(iii), which
rights Eagle River and its affiliates have validly waived as of the Effective
Date and the Company will use commercially reasonable efforts to cause to be
waived by the other holders of such rights.

          5.4 Closing Capitalization Tables. At the Closing, the Company will
provide to Purchaser a true and correct (i) capitalization table of the Company
and each Subsidiary setting forth the authorized capital stock (or membership or
other equity interests, as applicable) of the Company or such Subsidiary, as the
case may be, and all shares of the capital stock (or membership or other equity
interests, as applicable), options and warrants (including, without limitation,
for each the name of the grantee, number of shares subject to the option or
warrant granted, the exercise price per share, the vesting schedule and the date
of issuance) and any other securities of the Company or such Subsidiary, as the
case may be, issued and outstanding, reserved and/or available for issuance, in
each case, as of the date of the Closing, and (ii) an updated Schedule
3.5(a)(iv) of the Schedule of Exceptions with respect to the number of Voting
Securities that Eagle River and its affiliates hold, own or control,
beneficially or of record, or have or control the power to vote as of the date
of the Closing, in each case, attached to a certificate of the Chief Financial
Officer of the Company certifying the capitalization tables and updated Schedule
3.5(a)(iii) as true and correct and that (a) all of the outstanding shares of
the capital stock of the Company or such Subsidiary, as the case may be, set
forth of such capitalization tables are duly authorized, validly issued, fully
paid and non-assessable, and free and clear of all Liens imposed by or through
the holder thereof, (b) that the outstanding securities of the Company or such
Subsidiary, as the case may be, are owned by the stockholders, optionholders and
securityholders and in the numbers and by the class and series of each security
specified on such capitalization table.

          5.5 Antidilution.

               (a) Any time after the Effective Date that the Company sells or
issues or agrees to sell or issue (or is deemed to do so under Section 5.5(e))
Dilutive Shares (as defined below) to any person or entity for no consideration
or consideration per share that is less than the Trigger Price (as defined
below) in effect immediately prior to such issuance or sale (each, a "DILUTIVE
ISSUANCE"), the Company shall concurrently issue to Purchaser for no
consideration a number of shares of Class A Common Stock equal to (i)
Purchaser's Adjusted Shares (as defined below) less (ii) Purchaser's Original
Shares (as defined below) (the "ANTIDILUTION SHARES"). No fractional shares of
Class A Common Stock shall be issued pursuant to this Section 5.5. The number of
shares of Class A Common Stock issued shall be rounded to the nearest integral
number of whole shares of Class A Common Stock. For the purposes of this Section
5.5, whenever Dilutive Shares are issued for a consideration other than cash,
either in whole or in part, the fair market value of the Dilutive Shares issued
shall be as established in good faith by resolution of the Company's Board.

                                       27
<PAGE>

               (b) Definitions. For the purposes of this Section 5.5, for each
Dilutive Issuance, the following terms shall have the following meanings:

                    (i) "ADJUSTED SHARES" means the number of shares of Class A
Common Stock equal to the product of (x) the Purchaser's Original Shares,
multiplied by (y) the quotient of (1) the Trigger Price in effect immediately
prior to a Dilutive Issuance, divided by (2) the Trigger Price in effect
immediately after such Dilutive Issuance. Any Adjusted Shares issued under this
Agreement shall be deemed to be "Shares."

                    (ii) "COMMON SHARES" means shares of Class A Common Stock,
shares of Class B common stock or any other class of common stock of the
Company.

                    (iii) "CONVERTIBLE SECURITIES" means any evidences of
indebtedness, shares or other securities directly or indirectly convertible into
or exchangeable for Common Shares, but excluding Options.

                    (iv) "DILUTIVE SHARES" means Common Shares, Options and
Convertible Securities issued or deemed issued after the Effective Date other
than:

                         (A) Common Shares issued pursuant to Article IV,
Section 2(d) of the Restated Certificate;

                         (B) (1) Common Shares outstanding on the Effective
Date, (2) Convertible Securities or Options outstanding on the Effective Date
(and the Common Shares issued upon conversion, exchange or exercise of such
Convertible Securities or Options), and (3) Common Shares (and/or Convertible
Securities and Options, and the Common Shares issuable upon conversion, exchange
or exercise of such Convertible Securities or Options) issued pursuant to
agreements in effect or other commitments or offers outstanding on the Effective
Date that (y) relate to the acquisition of spectrum rights or related assets by
the Company and/or the Subsidiaries, or (z) are otherwise set forth in Schedule
3.5(c) of the Schedule of Exceptions;

                         (C) Common Shares (and/or Convertible Securities and/or
Options, and the Common Shares issuable upon conversion, exchange or exercise of
such Convertible Securities or Options) issued to employees, consultants,
directors, vendors, lessors or others with whom the Company conducts business,
provided that such shares, options, warrants or other rights are issued pursuant
to a stock option plan or restricted stock plan approved by the Board of the
Company and solely for compensation purposes;

                         (D) Common Shares actually issued upon exercise of any
Options outstanding as of the Effective Date or conversion or exchange of any
Convertible Securities existing as of the Effective Date, or Options or
Convertible Securities issued after the Effective Date in accordance with this
clause (iv); and/or

                         (E) Common Shares (and/or Convertible Securities and
Options, and the Shares issuable upon conversion, exchange or exercise of such
Convertible Securities or Options) issued in connection with any stock split,
stock dividend, reverse stock split, recapitalization, reorganization or other
distribution of Shares (each, a "RECAPITALIZATION

                                       28

<PAGE>

EVENT") that does not affect the relative economic interests or rights of
holders of Common Shares.

                    (v) "OPTIONS" means rights, options or warrants to subscribe
for, purchase or otherwise acquire, directly or indirectly, Common Shares or
Convertible Securities.

                    (vi) "ORIGINAL SHARES" means (x) with respect to the first
Dilutive Issuance, the total number of shares of Class A Common Stock and Class
B Common Stock set forth in Section 1.2 hereof (as adjusted pursuant to Section
1.3 hereof), to be acquired by Purchaser pursuant to this Agreement (as adjusted
for any Recapitalization Event) and (y) with respect to each Dilutive Issuance
thereafter, the total number of Adjusted Shares immediately prior to such
Dilutive Issuance (as adjusted for any Recapitalization Event). For the
avoidance of doubt, any Common Shares acquired by Purchaser or an affiliate of
Purchaser from either the Company or any other stockholder of the Company under
any Contract other than this Agreement shall in no event be included in the
number of Original Shares under this Section 5.5 or any adjustment pursuant to
this Section 5.5.

                    (vii) "TRIGGER PRICE" shall initially mean $6.00 per share
(as subsequently adjusted for any Recapitalization Event, the "ORIGINAL ISSUE
PRICE"). In connection with each Dilutive Issuance, the Trigger Price shall be
adjusted downwards to equal the lowest price per Dilutive Share paid for the
Dilutive Shares issued or sold in such Dilutive Issuance. The Trigger Price
shall also be proportionately adjusted from time to time for any
Recapitalization Event pursuant to which securities of the Company are issued
with respect to the Original Shares and/or Adjusted Shares. Notwithstanding the
foregoing, in no event shall the Trigger Price be adjusted downwards to an
amount less than $5.00 per share (as adjusted for any Recapitalization Event).

               (c) Covenant Regarding Antidilution Shares. The Company hereby
represents, warrants and covenants that (i) as a condition precedent to the
issuance or sale of any Dilutive Shares in a Dilutive Issuance, the Company
shall have reserved at the time of such Dilutive Issuance out of its authorized
but unissued capital stock sufficient shares of Class A Common Stock to enable
the Company to issue all of the applicable Antidilution Shares pursuant to this
Section 5.5, and (ii) all Antidilution Shares issued pursuant to this Section
5.5 shall, upon issuance for no additional consideration, be duly authorized,
validly issued, fully paid and nonassessable and free and clear of all Liens,
other than Liens created by or imposed by Purchaser.

               (d) Termination of Antidilution Rights. The rights granted under
this Section 5.5 shall terminate immediately after the first to occur of the
following: (i) the date which is nine (9) months following the date of the
Closing or (ii) the closing of the Company's initial public offering, defined as
an underwritten public offering of equity securities in which the Company raises
an aggregate of not less than US$400,000,000 in cash.

               (e) Deemed Issuances of Shares. In the case of any issuance
(whether on or after the Effective Date) by the Company of any Convertible
Securities or Options, the following provisions shall apply for all purposes of
this Section 5.5:

                                       29

<PAGE>

                    (i) For any Convertible Securities issued (other than
pursuant to the exercise of Options) after the Effective Date, the aggregate
maximum number of Common Shares deliverable upon conversion or exercise of or in
exchange for any such Convertible Securities shall be deemed to have been issued
at the time such Convertible Securities were issued and for a consideration
equal to the consideration, if any, received by the Company upon the issuance of
such Convertible Securities plus the minimum additional consideration, if any,
to be paid under the terms of such Convertible Security upon conversion,
exercise or exchange of such Convertible Securities into the Common Shares
covered thereby.

                    (ii) For any Options issued, the aggregate maximum number of
Common Shares deliverable upon exercise of the Options, or, in the case of
Options for Convertible Securities, the conversion, exercise or exchange of such
Convertible Securities, shall be deemed to have been issued at the time such
Options were issued for a consideration equal to the consideration, if any,
received by the Company for such Options, plus the minimum exercise price
provided in such Options for the Common Shares or Convertible Securities covered
thereby, and, in the case of Options for Convertible Securities, plus the amount
of additional consideration, if any, to be paid upon the conversion, exercise or
exchange of such Convertible Securities.

               (f) Adjustment in Shares. In addition to any necessary adjustment
pursuant to Section 1.3 hereof, upon the issuance of any Antidilution Shares,
Purchaser agrees to convert such number of its shares of Class B Common Stock,
if any, as necessary so that the total voting power of the Company's capital
stock held by Purchaser that is represented by the Shares after such issuance of
the Antidilution Shares is equal to 60% of the total voting power of the
Company's capital stock held, owned or controlled by Eagle River and/or its
affiliates.

               (g) Voting Power of Eagle River. The total voting power of the
Company's capital stock held, owned or controlled by Eagle River and/or its
affiliates shall be determined based on the total number of Common Shares,
Convertible Shares and other voting securities of the Company (collectively,
"VOTING SECURITIES") that Eagle River and/or its affiliates then hold, own or
control, beneficially or of record, or have or control the power to vote;
provided that if at any time after the Effective Date Eagle River or any of its
affiliates sells, transfers, assigns, converts, exchanges or otherwise disposes
of any Voting Securities, or the power to vote any such securities, then such
sold, transferred, assigned, converted, exchanged or otherwise disposed of
Voting Securities or rights shall continue to be deemed to be held, owned or
controlled by Eagle River and/or its affiliates (without giving effect to any
reduction in the voting power of such Voting Securities or rights as a result of
such sale, transfer, assignment, conversion, exchange or otherwise disposition)
for purposes of determining the total voting power of the Company held, owned or
controlled by Eagle River and its affiliates; and provided, further that, (i)
any Voting Securities or the power to vote any such securities acquired by Eagle
River and/or its affiliates from either the Company or any other stockholder of
the Company after the date of the Closing pursuant to any Contract that was
entered into after the date of the Closing shall in no event be included in the
calculation of the total voting power of the Company held, owned or controlled
by Eagle River and/or its affiliates under this Section 5.5; and (ii) for the
avoidance of doubt, any Voting Securities or the power to vote any such
securities acquired by Eagle River and/or its affiliates from either the Company
or any other stockholder of the

                                       30

<PAGE>

Company, whether before of after the date of the Closing, pursuant to any
Contract that was entered into on or prior to the date of the Closing shall be
included in the calculation of the total voting power of the Company held, owned
or controlled by Eagle River and/or its affiliates under this Section 5.5.

          5.6. Closing Schedules. At least two (2) business days prior to the
Closing, the Company will provide to Purchaser a true and correct update of the
Schedule of Exceptions, but only with respect to any events, conditions,
circumstances or matters arising during the period from the Effective Date to
the date of the Closing, which if existing on the Effective Date would have been
included or described in the Schedule of Exception (the "CLOSING SCHEDULES"),
which items shall be factual and described in detail on the schedules and which
schedules shall identify the specific exception to the representations and
warranties that the item represents, and with respect to which items Purchaser
shall be entitled to request additional information from the Company. In advance
of the delivery of the Closing Schedules, from time to time during the period
between the Effective Date and the date of the Closing as any events,
conditions, circumstances or matters of the type set forth on Schedules 3.5(c),
3.5(e), 3.5(f), 3.9, 3.11, 3.12(a), 3.12(b), 3.12(c), 3.12(d), 3.18. or 3.23 of
the Schedule of Exceptions, or any other material events, conditions,
circumstances or matters on any other schedule, arise that will be, or are
reasonably expected to be, listed on the Closing Schedules, the Company shall
provide Purchaser with notice of the occurrence of any such events, conditions,
circumstances or matters and copies of or access to any agreements and/or other
documentation that relate to or document such events, conditions, circumstances
or matters, using commercially reasonable efforts to segregate or otherwise
clearly identify such agreements and/or other documentation in any data room;
provided, that any such notice need not be delivered more than once every two
(2) weeks regardless of the occurrence of any such events, conditions,
circumstances or matters; and provided, further, that any breach by the Company
of its obligations under this paragraph shall not be considered in determining
whether the Company has satisfied its obligations under Section 6.2 of this
Agreement.

     6. CONDITIONS TO PURCHASER'S OBLIGATIONS AT THE CLOSING

     The obligation of Purchaser to purchase the Shares at the Closing is
subject to the fulfillment, to the satisfaction of Purchaser on or prior to the
Closing, of the following conditions, unless otherwise waived in writing:

          6.1. Representations and Warranties.

               (a) Except as set forth in the Schedule of Exceptions, the
representations and warranties of the Company in Section 3 hereof that are
qualified as to materiality shall have been true and correct in all respects,
and all other representations and warranties of the Company in Section 3 hereof
shall be true and correct in all material respects, as of the Effective Date,
other than representations and warranties that expressly refer to a specific
date (in which case, such representations and warranties will be true and
correct as of such date).

               (b) Except as set forth in the Schedule of Exceptions or the
Closing Schedules, the representations and warranties of the Company in Section
3 hereof that are

                                       31

<PAGE>

qualified as to materiality shall be true and correct in all respects, and all
other representations and warranties of the Company in Section 3 hereof shall be
true and correct in all material respects, in each case, as if made on and as of
the Closing Date, other than representations and warranties that expressly refer
to a specific date (in which case such representations and warranties will be
true and correct as of such date).

          6.2. Performance of Obligations. The Company and the Subsidiaries
shall have performed and complied with all agreements, obligations and
conditions contained in this Agreement and the Transaction Agreements that are
required to be performed or complied with by it on or before the Closing and
shall have obtained all Consents necessary to complete the purchase and sale
described herein and for consummation of the other transactions contemplated by
this Agreement and the Transaction Agreements that are required to be obtained
prior to the Closing.

          6.3. Compliance Certificate. At the Closing, the Company on its behalf
and on behalf of the Subsidiaries shall deliver to Purchaser a certificate,
dated the date of Closing, signed by the Company's President certifying that the
conditions specified in Sections 6.1 and 6.2 have been fulfilled.

          6.4. Secretary's Certificate. At the Closing, the Company shall
deliver to Purchaser certificates, dated as of the date of the Closing and in
form and substance reasonably acceptable to Purchaser, signed by the Secretary
of the Company and each of the Major Subsidiaries, as the case may be,
certifying that (i) the Restated Certificate (which shall be certified as filed
by the Secretary of State of the State of Delaware) and the Bylaws or the
charter, bylaws and/or other governing documents attached to the Secretary's
certificate are in full force and effect on the date of such Closing, and (ii)
the Board of the Company and shareholder resolutions approving the Restated
Certificate, this Agreement, the Transaction Agreements and the transactions
contemplated hereunder and thereunder, as applicable, are true, correct and
complete and have not been amended since the date of such resolutions.

          6.5 Antitrust; Qualifications. Any waiting period (and any extension
thereof) under any United States or foreign antitrust or merger control Law
applicable to the transactions contemplated by this Agreement and the
Transaction Agreements, including, without limitation, the HSR Act, shall have
expired or shall have been terminated. All Consents, if any, of any Governmental
Authority or regulatory body within the United States and outside the United
States that are required for the consummation of the transactions contemplated
by this Agreement and the Transaction Agreements (other than Consents required
with respect to the performance of the Collaboration Agreement after the date of
the Closing that may be obtained after the Closing and for which the Company
does not currently believe that it will be unable to obtain in a timely manner),
including, without limitation, in connection with the lawful issuance and sale
of the Shares pursuant to this Agreement, shall be obtained or filed and
effective as of the Closing.

          6.6. Amendment to Restated Certificate. The filing of the Restated
Certificate shall have been accepted by the Secretary of State of the State of
Delaware. The Company shall deliver to Purchase (i) a good standing certificate
of the Company and each Major Subsidiary issued by the Secretary of State or
other applicable official of the jurisdiction of such entity's

                                       32

<PAGE>

formation and (ii) foreign qualification and good standing certificates of the
Company and each Major Subsidiary issued by the Secretary of State or other
applicable official of California, Delaware, Florida, Nevada and Washington.

          6.7. Opinion of Company's Counsel. Purchaser shall have received from
counsel to the Company an opinion addressed to Purchaser, dated the date of the
Closing, in form and substance reasonably acceptable and substantially the form
attached hereto as Exhibit J.

          6.8. Board of Directors. The Company's Board shall consist of nine (9)
directors and, concurrent with the Closing, shall include as directors two
individuals designated by Purchaser, the names of which will be provided by
Purchaser to the Company at least two (2) business days prior to the date of the
Closing.

          6.9. Execution of Investor Rights Agreement. The Company shall have
executed and delivered to Purchaser the Investor Rights Agreement in
substantially the form attached hereto as Exhibit A.

          6.11. Execution of Joinder Agreement. The Company and each of the
other shareholders of the Company named as parties thereto shall have executed
and delivered to Purchaser the Joinder Agreement in substantially the form
attached hereto as Exhibit B.

          6.13. Execution of Voting Agreement. The Company and each of the other
shareholders of the Company named as parties thereto shall have executed and
delivered to Purchaser the Voting Agreement in substantially the form attached
hereto as Exhibit C.

          6.14. Execution of Side Letter Amendment. The Company shall have
executed and delivered to Purchaser the Side Letter Amendment in substantially
the form attached hereto as Exhibit E and such agreement shall continue to be in
full force and effect on the date of the Closing.

          6.15. Execution of Collaboration Agreement. The Company shall have
executed and delivered to Purchaser the Collaboration Agreement in substantially
the form attached hereto as Exhibit F and such agreement shall continue to be in
full force and effect on the date of the Closing.

          6.16. Management Employee Non-Compete Agreements. Each of Benjamin G.
Wolff, R. Gerard Salemme, Nicholas Kauser and Perry Saterlee shall have executed
and delivered to the Company, with a true and correct copy provided to
Purchaser, a non-compete agreement in substantially the form attached hereto as
Exhibit D, each of which shall continue to be in full force and effect on the
date of the Closing.

          6.17. Eagle River Voting Agreement. Eagle River and the Company shall
have executed and delivered to Purchaser the Eagle River Voting Agreement in
substantially the form attached hereto as Exhibit G, which shall continue to be
in full force and effect on the date of the Closing.

                                       33
<PAGE>

          6.18. Preemptive Rights. The Company shall have fully satisfied
(including, without limitation, with respect to rights of timely notification)
or obtained enforceable waivers in respect of any preemptive or similar rights
directly or indirectly relating to, arising out of or affecting the Shares or
the Conversion Shares or their issuance and sale to Purchaser.

          6.19. Sale of NextNet. Prior to the Closing, the Company shall have
sold or otherwise disposed of all of its interests in NextNet Wireless, Inc. or
substantially all of its assets.

          6.20. Material Adverse Change. Between the Effective Date and the date
of the Closing, no events, conditions, circumstances or matters of any nature
(including, without limitation, any events, conditions, circumstances or matters
that are set forth in the Closing Schedules, but are not set forth on the
Schedule of Exceptions) shall have occurred, or be reasonably expected to occur,
which would have or result in, individually or in the aggregate, (i) a Material
Adverse Effect with respect to the business of the Company and the Subsidiaries,
taken as a whole, as currently conducted and as presently proposed to be
conducted, (ii) a materially adverse impact on the ability of any party to
perform its obligations under, or to consummate the transactions contemplated
by, this Agreement or any of the Transaction Agreements, provided that Purchaser
shall not have taken any action or actions for the intended purpose of causing
such a materially adverse impact with respect to Purchaser to occur; or (iii) a
materially adverse impact to the Company's ability to implement its business
plan or to compensate Purchaser as provided in the Collaboration Agreement.

     7. CONDITIONS TO COMPANY'S OBLIGATIONS AT THE CLOSING

     The obligations of the Company under this Agreement are subject to the
fulfillment, to the satisfaction of the Company on or prior to the Closing, of
the following conditions, unless otherwise waived in writing:

          7.1. Representations and Warranties. The representations and
warranties of Purchaser in Section 4 hereof that are qualified as to materiality
shall be true and correct in all respects and all other representations and
warranties of Purchaser in Section 4 hereof shall be true and correct in all
material respects, in each case as if made on and as of the Closing Date, other
than representations and warranties that expressly refer to a specific date (in
which case such representations and warranties will be true and correct as of
such date).

          7.2. Performance of Obligations. Purchaser shall have performed and
complied with all agreements, obligations and conditions contained in this
Agreement and the Transaction Agreements that are required to be performed or
complied with by it on or before the Closing and shall have obtained all
Consents necessary to complete the purchase and sale described herein and for
consummation of the other transactions contemplated by this Agreement and the
Transaction Agreements.

          7.3. Payment of Purchase Price. Purchaser shall have delivered to the
Company the purchase price in accordance with the provisions of Section 2.2
hereof.

                                       34

<PAGE>

          7.4. Amendment to Restated Certificate. The filing of the Restated
Certificate shall have been accepted by the Secretary of State of the State of
Delaware.

          7.5. Antitrust; Qualifications. Any waiting period (and any extension
thereof) under any United States or foreign antitrust or merger control Law
applicable to the transactions contemplated by this Agreement and the
Transaction Agreements, including, without limitation, the HSR Act, shall have
expired or shall have been terminated. All Consents, if any, of any Governmental
Authority or regulatory body within the United States and outside the United
States that are required for the consummation of the transactions contemplated
by this Agreement and the Transaction Agreements (other than Consents required
with respect to the performance of the Collaboration Agreement after the date of
the Closing that may be obtained after the Closing and for which the Company
does not currently believe that it will be unable to obtain in a timely manner),
including, without limitation, in connection with the lawful issuance and sale
of the Shares pursuant to this Agreement, shall be obtained or filed and
effective as of the Closing.

          7.6. Securities Exemptions. The offer and sale of the Shares to
Purchaser pursuant to this Agreement shall be exempt from the registration
requirements of the 1933 Act, and the registration and/or qualification
requirements of all applicable state securities Laws.

          7.7. Execution of Investor Rights Agreement. Purchaser shall have
executed and delivered to the Company the Investor Rights Agreement in
substantially the form attached hereto as Exhibit A.

          7.8. Execution of Joinder Agreement. Purchaser shall have executed and
delivered to the Company the Joinder Agreement in substantially the form
attached hereto as Exhibit B.

          7.9. Execution of Voting Agreement. Purchaser shall have executed and
delivered to the Company the Voting Agreement in substantially the form attached
hereto as Exhibit C.

          7.10. Execution of Side Letter Amendment. Purchaser shall have
executed and delivered to the Company the Side Letter Amendment in substantially
the form attached hereto as Exhibit F.

          7.11. Execution of Collaboration Agreement. Purchaser shall have
executed and delivered to the Company the Collaboration Agreement in
substantially the form attached hereto as Exhibit G.

     8. TERMINATION

          8.1 Events of Termination. This Agreement may be terminated at any
time prior to the Closing: (a) by mutual written consent of the Company and
Purchaser; (b) by either the Company or Purchaser if any Governmental Authority
of competent jurisdiction shall have issued a final and nonappealable Order
permanently enjoining or otherwise prohibiting the consummation of the
transactions contemplated by this Agreement or the Transaction

                                       35

<PAGE>

Agreements; provided, that the party so requesting termination shall have
complied with Section 9.17; (c)(i) by the Company, if any of the conditions set
forth in Section 7 shall have become incapable of fulfillment on or prior to
June 30, 2007 (the "TERMINATION DATE"), or (ii) by Purchaser, if any of the
conditions set forth in Section 6 shall have become incapable of fulfillment
prior to the Termination Date; provided, that the right to terminate this
Agreement pursuant to this Section 8.1(c) shall not be available if the failure
of the party so requesting termination to fulfill any obligation under this
Agreement shall have been the cause of the failure of such condition to be
satisfied on or prior to such date. The party seeking to terminate this
Agreement pursuant to this Section 8.1 (other than Section 7.1(a)) shall give
written notice of such termination to the other party.

          8.2. Effect of Termination. In the event of termination of this
Agreement as provided in Section 8.1, this Agreement shall forthwith become void
and there shall be no liability hereunder on the part of the Company or
Purchaser or any of their respective officers, directors or affiliates;
provided, however, that nothing contained in this Section 8.2 shall relieve any
party hereto from any liability for any willful breach of a representation,
warranty, or covenant contained in this Agreement prior to such termination.

     9. MISCELLANEOUS

          9.1. Governing Law. This Agreement shall be governed by and construed
in accordance with the General Corporation Law of the State of Delaware as to
matters within the scope thereof, and as to all other matters shall be governed
by and construed in accordance with the internal Laws of the State of Delaware,
without regard to principles of conflicts of Laws.

          9.2. Survival. The parties agree that, regardless of any investigation
made by the parties, the representations, warranties, covenants and agreements
(in the case of covenants and agreements, to the extent of performance or
non-performance prior to the date of the Closing) of the parties contained in
this Agreement shall survive the execution and delivery of this Agreement for a
period beginning on the Effective Date and ending at 5:00 p.m., California time,
on the third (3rd) anniversary of the date on which the Closing occurs;
provided, however, that (i) the representations and warranties contained in
Section 3.8 (Tax Matters), Section 3.9 (Litigation Matters), Section 3.10
(Compliance with Laws), Section 3.14(c) (Intellectual Property - No
Infringement), Section 3.19 (Environmental Matters), Section 3.21 (Certain
Business Practices), and Section 3.22 (Employee Matters) shall survive until the
date which is sixty (60) days after the end of the statute of limitations
applicable to third party claims with respect to the subject matter of such
representations and warranties, and (ii) the representations and warranties
contained in Section 3.5 (Capitalization; Valid Issuance of Stock) shall survive
indefinitely.

          9.3. Successors and Assigns. Except as otherwise expressly provided
herein, the provisions hereof shall inure to the benefit of, and be binding
upon, the successors, assigns, heirs, executors and administrators of the
parties hereto. Nothing in this Agreement, express or implied, is intended to
confer upon any party other than the parties hereto or their respective
successors, assigns, heirs, executors and administrators any rights, remedies,
obligations, or liabilities under or by reason of this Agreement, except as
expressly provided in this Agreement. This Agreement and the rights and
obligations herein may not be assigned by Purchaser without the written consent
of the Company, except to a parent corporation, a subsidiary or affiliate;

                                       36
<PAGE>

provided that if no such consent is obtained, Purchaser shall continue to be
liable for payment of the Aggregate Purchase Price. This Agreement and the
rights and obligations therein may not be assigned by the Company without the
written consent of Purchaser.

          9.4. Entire Agreement. This Agreement and the schedules and exhibits
hereto, which are hereby expressly incorporated herein by this reference, the
Restated Certificate and the Transaction Agreements constitute the entire
understanding and agreement between the parties with regard to the subjects
hereof and thereof; provided, however, that nothing in this Agreement shall be
deemed to terminate or supersede the provisions of any confidentiality and
nondisclosure agreements executed by the parties hereto prior to the Effective
Date, which agreements shall continue in full force and effect until terminated
in accordance with their respective terms.

          9.5. Notices. All notices, requests, waivers and other communications
made pursuant to this Agreement shall be in writing and shall be conclusively
deemed to have been duly given (a) when hand delivered to the other party; (b)
when sent by facsimile if sent during normal business hours of the recipient
with confirmation of sending to the fax number set forth below or, if sent after
normal business hours with confirmation of sending, then notice shall be deemed
to have been duly given on the next business day; (c) three (3) business days
after deposit in the U.S. mail with registered or certified mail return receipt
requested first class postage prepaid and addressed to the other party as set
forth below; or (d) the next business day after deposit with a national
overnight delivery service, postage prepaid, addressed to the parties as set
forth below with next-business-day delivery guaranteed, provided that the
sending party receives a confirmation of delivery from the delivery service
provider. All notices, requests, waivers and other communications shall be sent
to the receiving party at its address as set forth below, or to such address or
facsimile number as subsequently modified by written notice given in accordance
with this Section 9.5.

                    (i)  if to the Company, at:

                         Clearwire Corporation
                         5808 Lake Washington Blvd. NE, Suite 300
                         Kirkland, WA 98033
                         Facsimile No: (425) 216-7900
                         Attn: Broady Hodder, General Counsel

                         With a copy to:

                         Davis Wright Tremaine, LLP
                         1501 Fourth Avenue
                         2600 Century Square
                         Seattle, WA 98121
                         Facsimile No: (206) 628-7699
                         Attn: Julie Weston, Esq.

                                       37

<PAGE>

                    (ii) if to Purchaser:

                         Intel Pacific, Inc.
                         c/o Intel Corporation
                         2200 Mission College Blvd., RN6-46
                         Santa Clara, CA 95054-1549
                         Attn: Intel Capital Portfolio Manager
                         Fax Number: (408) 765-6038

                         With copies to: portfolio.manager@intel.com

Each person making a communication hereunder by facsimile shall promptly confirm
by telephone to the person to whom such communication was addressed each
communication made by it by facsimile pursuant hereto, but the absence of such
confirmation shall not affect the validity of any such communication.

          9.6. Amendments and Waivers. Any term of this Agreement may be
amended, terminated or waived only with the written consent of the Company and
Purchaser. Any amendment, termination or waiver effected in accordance with this
Section 9.6 shall be binding upon each transferee of the Shares, each future
holder of all such securities, and the Company.

          9.7. Delays or Omissions. No delay or omission to exercise any right,
power or remedy accruing to the Company or to Purchaser, upon any breach or
default of any party hereto under this Agreement, shall impair any such right,
power or remedy of the Company, or Purchaser nor shall it be construed to be a
waiver of any such breach or default, or an acquiescence therein, or of or in
any similar breach of default thereafter occurring; nor shall any waiver of any
single breach or default be deemed a waiver of any other breach or default
theretofore or thereafter occurring. Any Consent of any kind or character on the
part of the Company or Purchaser of any breach of default under this Agreement
or any waiver on the part of the Company or Purchaser of any provisions or
conditions of this Agreement, must be in writing and shall be effective only to
the extent specifically set forth in such writing. All remedies, either under
this Agreement, or by Law or otherwise afforded to the Company or Purchaser
shall be cumulative and not alternative.

          9.8. Corporate Securities Law. THE SALE OF THE SECURITIES WHICH ARE
THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF
CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF THE SECURITIES OR
THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR PRIOR TO THE
QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM THE
QUALIFICATION BY SECTION 25100, 25102 OR 25105 OF THE CALIFORNIA CORPORATIONS
CODE. THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON
THE QUALIFICATION BEING OBTAINED UNLESS THE SALE IS SO EXEMPT.

                                       38

<PAGE>

          9.9. Legal Fees. The Company and Purchaser shall each pay their own
expense in connection with the transactions contemplated by this Agreement.
Furthermore, in the event of any action at law, suit in equity or arbitration
proceeding in relation to this Agreement or any Shares or other securities of
the Company issued or to be issued, the prevailing party shall be paid by the
other party a reasonable sum for attorney's fees and expenses for such
prevailing party in addition to any other relief to which such party may be
entitled. Notwithstanding the foregoing, each of the Company and Purchaser shall
pay one-half of the filing fees under the HSR Act relating to the transactions
contemplated by this Agreement and the Transaction Agreements.

          9.10. Finder's Fees. Each party represents and warrants to the other
party hereto that it has retained no finder or broker in connection with the
transactions contemplated by this Agreement, provided, that, it is acknowledged
that the Company may have utilized the services of Merrill Lynch, Morgan Stanley
and JP Morgan in connection with its financing activities, including the
transactions contemplated by this Agreement and the Transaction Agreements. The
Company covenants and agrees that it will not pay any fee or compensation in
excess of $1,500,000 in the aggregate to Merrill Lynch, Morgan Stanley and JP
Morgan or any other finder or broker, in connection with, relating to or arising
from this Agreement, the Transaction Agreements and/or any of the transactions
contemplated hereby or thereby, without the prior written consent of Purchaser.
Notwithstanding anything to the contrary contained herein, each party hereby
agrees to indemnify and to hold harmless the other party hereto from and against
any liability for any commission or compensation in the nature of a finder's
fee, broker commission or banker's fee of any broker, investment banker or other
person or firm (including, without limitation, any fees or compensation that may
be payable by the Company to Merrill Lynch, Morgan Stanley and JP Morgan) and
the costs and expenses of defending against such liability or asserted
liability, for which the indemnifying party or any of its employees or
representatives are responsible.

          9.11. Titles and Subtitles. The titles of the sections and subsections
of this Agreement are for convenience of reference only and are not to be
considered in construing or interpreting this Agreement.

          9.12. Counterparts; Facsimile. This Agreement may be executed and
delivered by facsimile signature in any number of counterparts, each of which
shall be an original, but all of which together shall constitute one and the
same instrument.

          9.13. Severability. Should any provision of this Agreement be
determined to be illegal or unenforceable, such determination shall not affect
the validity or enforceability of any other provision of this Agreement.

          9.14 Dispute Resolution. The parties agree to negotiate in good faith
to resolve any controversy or claim arising out of or relating to this
Agreement, or the interpretation or breach hereof. If the negotiations do not
resolve the dispute to the reasonable satisfaction of both parties, then each
party shall nominate one senior officer of the rank of Vice President or higher
as its representative. These representatives shall, within thirty (30) days of a
written request by either party to call such a meeting, meet and attempt in good
faith to resolve the dispute. If the disputes cannot be resolved by such senior
officers in the meeting, the parties agree that they

                                       39

<PAGE>

shall, if requested in writing by either party, meet within thirty (30) days
after such written notification for one day with a neutral mediator agreed upon
by the parties and consider dispute resolution alternatives other than
litigation. If an alternative method of dispute resolution is not agreed upon
within thirty (30) days after the one day mediation, either party may begin
litigation proceedings. This procedure shall be a prerequisite before taking any
additional action hereunder.

          9.16. No Commitment for Additional Financing. The Company acknowledges
and agrees that Purchaser has not made any representation, undertaking,
commitment or agreement to provide or assist the Company or any Subsidiary in
obtaining any financing, investment or other assistance, other than the purchase
of the Shares as set forth herein and subject to the conditions set forth
herein. In addition, the Company acknowledges and agrees that (i) no statements,
whether written or oral, made by Purchaser or its representatives on or after
the Effective Date shall create an obligation, commitment or agreement to
provide or assist the Company or any Subsidiary in obtaining any financing or
investment, (ii) the Company shall not rely on any such statement by Purchaser
or its representatives and (iii) an obligation, commitment or agreement to
provide or assist the Company or any Subsidiary in obtaining any financing or
investment may only be created by a written agreement, signed by Purchaser and
the Company, setting forth the terms and conditions of such financing or
investment and stating that the parties intend for such writing to be a binding
obligation or agreement. Purchaser shall have the right, in it sole and absolute
discretion, to refuse or decline to participate in any other financing of or
investment in the Company or any Subsidiary, and shall have no obligation to
assist or cooperate with the Company or any Subsidiary in obtaining any
financing, investment or other assistance.

          9.17 Required Filings; Cooperation. As promptly as reasonably
practicable, but in any event within 20 days from the Effective Date with
respect to the initial filings under the HSR Act, each of the Company and
Purchaser will make all filings required to be made by them in order to complete
the transactions contemplated under this Agreement and the Transaction
Agreements, including, without limitation, all filings under the HSR Act.
Between the Effective Date and the Closing, each party hereto will, subject to
such confidentiality restrictions as may be reasonable requested or are required
by applicable Law, (i) reasonably cooperate with the other party with respect to
all filings that such other party elects to make or is required by applicable
Laws to make in connection with the transactions contemplated under this
Agreement, and (ii) reasonably cooperate with the other party, including,
without limitation, taking all actions reasonably requested by such other party,
to cause early termination of any applicable waiting period under the HSR Act.
Each of the Company and Purchaser shall keep the other reasonably apprised of
the status of any such filing and any inquiries or requests for additional
information from the Federal Trade Commission ("FTC") and the Antitrust Division
of the Department of Justice ("DOJ"). The parties shall use commercially
reasonable efforts to comply with any such inquiry, request and/or conditions of
the FTC and DOJ. Nothing in this Agreement, however, shall require or be
construed to require any party hereto, in order to obtain the consent or
successful termination of any review of the FTC, DOJ or any other Governmental
Authority regarding the transactions contemplated by this Agreement and the
Transaction Agreements, to (i) sell or hold separate, or agree to sell or hold
separate, before or after the Closing, any assets, businesses or any interests
in any assets or businesses, of such party or any of its affiliates (or to
consent to any sale, or agreement to sell, any assets or businesses, or any

                                       40

<PAGE>

interests in any assets or businesses), or any change in or restriction on the
operation by such party of any assets or businesses, or (ii) enter into any
agreement or be bound by any obligation that, in such party's good faith
judgment, may have an adverse effect on the benefits to such party of the
transactions contemplated by this Agreement and the Transaction Agreements.

     IN WITNESS WHEREOF, the parties hereto have executed this Common Stock
Purchase Agreement as of the day and year herein above first written.

PURCHASER:

INTEL PACIFIC, INC.

/s/ Arvind Sodhani                      (STAMP)
-------------------------------------
Signature

Arvind Sodhani
-------------------------------------
Printed Name

President
-------------------------------------
Title

COMPANY:

CLEARWIRE CORPORATION

/s/ Benjamin G. Wolff
-------------------------------------
Signature

Benjamin G. Wolff
-------------------------------------
Printed Name

Co-Chief Executive Officer
-------------------------------------
Title

 [SIGNATURE PAGE TO COMMON STOCK PURCHASE AGREEMENT WITH CLEARWIRE CORPORATION]

                                       41

<PAGE>

                                    EXHIBIT A

                        FORM OF INVESTOR RIGHTS AGREEMENT

<PAGE>

                                    EXHIBIT B

           FORM OF JOINDER IN AND AMENDMENT TO STOCKHOLDERS AGREEMENT

<PAGE>

                                    EXHIBIT C

                            FORM OF VOTING AGREEMENT

<PAGE>

                                    EXHIBIT D

                     FORM OF EMPLOYEE NON-COMPETE AGREEMENT

<PAGE>

                                    EXHIBIT E

                          FORM OF SIDE LETTER AMENDMENT

<PAGE>

                                    EXHIBIT F

                         FORM OF COLLABORATION AGREEMENT

<PAGE>

                                    EXHIBIT G

      FORM OF EAGLE RIVER VOTING AGREEMENT AND WAIVER OF PREEMPTIVE RIGHTS

<PAGE>

                                    EXHIBIT H

            FORM OF AMENDED AND RESTATED CERTIFICATE OF INCORPORATION

<PAGE>

                                    EXHIBIT I

                             SCHEDULE OF EXCEPTIONS

<PAGE>

                                    EXHIBIT J

                            FORM OF DWT LEGAL OPINION

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