Document:

Exhibit 10.11

                              EMPLOYMENT AGREEMENT

                  THIS AGREEMENT (the  "Agreement"),  made in New York, New York
as of the __ day of March, 2000, between Atlantic  Technology  Ventures,  Inc. a
Delaware  corporation  having its offices and principal place of business at 150
Broadway,  Suite 1110, New York, New York (the "Company"),  and Kelly Harris, an
individual   currently   residing   at   _________,   ___________,    __________
("Employee").

                  WHEREAS, the Company desires to employ Employee,  and Employee
desires to accept such  employment on the terms and conditions  hereinafter  set
forth;

                  NOW,  THEREFORE,  IN CONSIDERATION of the mutual covenants and
agreements hereinafter set forth, the Company and Employee agree as follows:

                  1. Term.

                  The term of this Agreement shall be period commencing on March
__, 2000 and ending on the date Employee's employment is terminated in
accordance with the terms hereof (the "Term").

                  2. Employment.

                     (a) Employment by the Company. Employee agrees to be
employed by the Company during the Term upon the terms and subject to the
conditions set forth in this Agreement. Employee shall serve as an employee of
the Company and shall have such duties as may be prescribed by the Company and
shall serve in such other and/or additional position(s) as the Company may
determine from time to time.

                     (b) Performance of Duties. Throughout the Term, Employee
shall faithfully and diligently perform Employee's duties in conformity with the
directions of the Company and serve the Company to the best of Employee's
ability. Employee shall devote Employee's entire working time to the business
and affairs of the Company, subject to vacations and sick leave in accordance
with Company policy and as otherwise permitted herein. Until otherwise
determined by the Company, Employee shall have the title of Director of
Administration of the Company, and in such capacity shall be responsible for
such duties as may be assigned by the Company and shall report to the President
of the Company.

                     (c) Place of Performance. Employee shall be based initially
at the Company's offices in New York, New York or such other location(s) in the
greater New York area as the Company may determine. Throughout the Term,
Employee shall maintain Employee's personal residence within reasonable access
to Employee's place of employment.

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                  3. Compensation and Benefits.

                     (a) Base Salary. The Company agrees to pay to Employee a
base salary ("Base Salary") at the annual rate of $40,000, payable in equal
installments consistent with the Company's payroll practices.

                     (b) Signing Bonus. Within thirty days after the execution
of this Agreement, the Company shall pay to Employee a bonus in the amount of
$10,000 (the "Signing Bonus"). Employee shall repay to the Company the Signing
Bonus if Employee is terminated by the Company for Cause (as hereinafter
defined) during the Term or voluntarily resigns her employment hereunder during
the first twelve months of the Term.

                     (c) Bonus. The Company shall pay to Employee an annual
bonus (the "Bonus") in an amount to be determined by Compensation Committee of
the Board of Directors in its discretion but in no event less than $10,000. In
addition, Employee shall be entitled to participate in any bonus or other
incentive programs as may be established by the Company.

                     (d) Grant of Options and Terms Thereof. The Company shall
grant to Employee, an option (the "Option"), pursuant to the Company's 1995
Stock Incentive Plan, to purchase twenty thousand (20,000) shares of the
Company's common stock (the "Option Shares"), subject to vesting as set forth
below. The exercise price for each Option Share shall be equal to the market
value of a share of the Company's common stock on the date of the grant of the
Option. The Option Shares shall vest in four equal installments, the first such
installment to vest on the later of the date of the grant of the Option and the
first day of the Term and each subsequent installment to vest, respectively, on
the first, second, and third anniversary of the grant of the Option, provided
that Employee is employed by the Company on each such vesting date. All other
terms (including exercisability) of the Option shall be governed by the
Company's Stock Incentive Plan, as well as the applicable option agreement to be
entered into pursuant to the terms of such plan.

                     (e) Benefits and Perquisites. Employee shall be entitled to
participate in, to the extent Employee is otherwise eligible under the terms
thereof, the benefit plans and programs, and receive the benefits and
perquisites, generally provided to the Company's employees, including without
limitation family medical insurance and life insurance (subject to applicable
employee contributions). Employee shall be entitled to four weeks of vacation
per year.

                     (f) Travel and Business Expenses. Upon submission of
itemized expense statements in the manner specified by the Company, Employee
shall be entitled to reimbursement for reasonable travel and other reasonable
business expenses duly incurred by Employee in the performance of Employee's
duties under this Agreement in accordance with the policies and procedures
established by the Company from time to time for employees of the Company.

                     (g) Relocation Expenses. The Company shall reimburse
Employee for such expenses reasonably incurred by Employee in connection with
the relocation of her residence to New York, New York or its immediate vicinity
upon submission of documentation

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in a form reasonably acceptable to the Company, provided that Employee must
consult with and receive approval from the Company, which approval shall not be
unreasonably withheld, prior to incurring any such expenses. Employee shall be
required to repay to the Company any relocation expenses reimbursed pursuant to
this Section 3(f) if Employee's employment hereunder is terminated (i) by the
Company for Cause or as a result of Employee's voluntary resignation during the
first twelve months of the Term.

                     (h) No Other Compensation or Benefits; Payment. The
compensation and benefits specified in this Section 3 and in Section 4 of this
Agreement shall be in lieu of any and all other compensation and benefits.
Payment of all compensation and benefits to Employee hereunder shall be made in
accordance with the relevant Company policies in effect from time to time to the
extent the same are consistently applied, including normal payroll practices,
and shall be subject to all applicable employment and withholding taxes and
other withholdings.

                     (i) Cessation of Employment. In the event Employee shall
cease to be employed by the Company for any reason, then Employee's compensation
and benefits shall cease on the date of such event, except as otherwise provided
herein or in any applicable employee benefit plan or program.

                  4. Termination of Employment.

                     (a) Termination. The Company may terminate Employee's
employment for during the first three months of the Term for any reason or no
reason, in which case the provisions of Section 4(b) of this Agreement shall
apply. The Company may terminate Employee's employment for Cause (as defined
below) or for any breach of this Agreement, in which case the provisions of
Section 4(c) of this Agreement shall apply. The Company may also terminate
Employee's employment in the event of Employee's Disability (as defined below),
in which case the provisions of Section 4(d) of this Agreement shall apply. The
Company may also terminate the Employee's employment for any other reason by
written notice to Employee, in which case the provisions of Section 4(e) of this
Agreement shall apply. If Employee's employment is terminated by reason of
Employee's death, retirement or voluntary resignation, the provisions of Section
4(c) of this Agreement shall apply.

                     (b) Termination by the Company During Initial Period. In
the event that Employee's employment hereunder is terminated by the Company
during the first three months of the Term (such period to be the "Initial
Period") for any reason or no reason, then the Company shall pay to Employee
only the Base Salary through such date of termination and any expenses incurred
by Employee through the date of such termination and properly reimbursable
pursuant to Section 3(g) hereof.

                     (c) Termination for Cause; Termination by Reason of Death
or Retirement or Voluntary Resignation. In the event that Employee's employment
hereunder is terminated during the Term (x) by the Company for Cause (as defined
below), (y) by reason of Employee's death or retirement or (z) by reason of
Employee's voluntary resignation, then the Company shall pay to Employee only
the Base Salary through such date of termination. For purposes of this
Agreement, "Cause" shall mean (i) conviction of any crime (whether or not
involving the Company) constituting a felony in the jurisdiction involved; (ii)
engaging in any

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substantiated act involving moral turpitude; (iii) engaging in any act which, in
each case, subjects, or if generally known would subject, the Company to public
ridicule or embarrassment; (iv) gross neglect or misconduct in the performance
of Employee's duties hereunder; (v) willful failure or refusal to perform such
duties as may reasonably be delegated to Employee; or (vi) material breach of
any provision of this Agreement by Employee; provided, however, that with
respect to clauses (iv), (v) or (vi), Employee shall have received written
notice from the Company setting forth the alleged act or failure to act
constituting "Cause" hereunder, and Employee shall not have cured such act or
refusal to act within 10 business days of her actual receipt of notice.

                     (d) Disability. If, as a result of Employee's incapacity
due to physical or mental illness, Employee shall have been absent from
Employee's duties hereunder on a full time basis for either (i) one hundred
twenty (120) days within any three hundred sixty-five (365) day period, or (ii)
ninety (90) consecutive days, the Company may terminate Employee's employment
hereunder for "Disability". In that event, the Company shall pay to Employee
only the Base Salary through such date of termination. During any period that
Employee fails to perform Employee's duties hereunder as a result of incapacity
due to physical or mental illness (a "Disability Period"), Employee shall
continue to receive the compensation and benefits provided by Section 3 of this
Agreement until Employee's employment hereunder is terminated; provided,
however, that the amount of compensation and benefits received by Employee
during the Disability Period shall be reduced by the aggregate amounts, if any,
payable to Employee under disability benefit plans and programs of the Company
or under the Social Security disability insurance program.

                     (e) Termination By Company For Any Other Reason. In the
event that Employee's employment hereunder is terminated by the Company during
the Term for any reason other than as provided in Section 4(b), 4(c), or 4(d) of
this Agreement, then the Company shall pay to Employee the Base Salary through
such date of termination and, in lieu of any further compensation and benefits
for the balance of the Term, severance pay equal to the Base Salary that
Employee would have otherwise received during the period beginning on such date
of termination and ending one (1) month from the effective date of such
termination, which severance pay shall be paid commencing with such date of
termination at the times and in the amounts such Base Salary would have been
paid. Notwithstanding anything to the contrary contained herein, in the event
that Employee shall breach Section 5 or 6 of this Agreement, in addition to any
other remedies the Company may have in the event Employee breaches this
Agreement, the Company's obligation pursuant to this Section 4(e) to continue
such salary shall cease and Employee's rights thereto shall terminate and shall
be forfeited.

                     (f) No Further Liability; Release. Payment made and
performance by the Company in accordance with this Section 4 shall operate to
fully discharge and release the Company and its directors, officers, employees,
subsidiaries, affiliates, stockholders, successors, assigns, agents and
representatives from any further obligation or liability with respect to
Employee's employment and termination of employment. Other than paying
Employee's Base Salary through the date of termination of Employee's employment
and making any severance payment pursuant to and in accordance with this Section
4 (as applicable), the Company and its directors, officers, employees,
subsidiaries, affiliates, stockholders, successors, assigns, agents and
representatives shall have no further obligation or liability to Employee or any
other person

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under this Agreement. The Company shall have the right to condition the payment
of any severance pursuant to this Section 4 upon the delivery by Employee to the
Company of a release in form and substance satisfactory to the Company of any
and all claims Employee may have against the Company and its directors,
officers, employees, subsidiaries, affiliates, stockholders, successors,
assigns, agents and representatives arising out of or related to Employee's
employment by the Company and the termination of such employment.

                  5. Exclusive Employment; Noncompetition.

                     (a) No Conflict; No Other Employment. During the period of
Employee's employment with the Company, Employee shall not: (i) engage in any
activity which conflicts or interferes with or derogates from the performance of
Employee's duties hereunder nor shall Employee engage in any other business
activity, whether or not such business activity is pursued for gain or profit,
except as approved in advance in writing by the Chief Employee Officer or the
Board of Directors of the Company; provided, however, that Employee shall be
entitled to manage her personal investments and otherwise attend to personal
affairs, including charitable activities, in a manner that does not unreasonably
interfere with her responsibilities hereunder, or (ii) accept any other
employment, whether as an Employee or consultant or in any other capacity, and
whether or not compensated therefor, unless Employee receives the prior approval
of the President of the Company.

                     (b) No Solicitation of Employment. During the Term and for
a period of one year thereafter, Employee shall not solicit or encourage any
employee of the Company or any Related Entity to leave the Company or such
Related Entity for any reason, nor assist any business in doing so, nor employ
such an employee in a Competing Business or any other business.

                  6. Confidential Information.

                     (a) Existence of Confidential Information. The Company and
each Related Entity owns and has developed and compiled, and will develop and
compile, certain proprietary techniques and confidential information which have
great value to its business (referred to in this Agreement, collectively, as
"Confidential Information"). Confidential Information includes not only
information disclosed by the Company or any Related Entity to Employee, but also
information developed or learned by Employee during the course or as a result of
employment with the Company, which information shall be the property of the
Company or the applicable Related Entity. Confidential Information includes all
information that has or could have commercial value or other utility in the
businesses in which the Company or any Related Entity is engaged or contemplates
engaging, and all information of which the unauthorized disclosure could be
detrimental to the interests of the Company or any Related Entity, whether or
not such information is specifically labeled as Confidential Information by such
entity. By way of example and without limitation, Confidential Information
includes any and all information developed, obtained, licensed by or to or owned
by the Company or any Related Entity concerning trade secrets, techniques,
know-how (including designs, plans, procedures, merchandising, marketing,
distribution and warehousing know-how, processes, and research records),
software, computer programs and designs, development tools, all proprietary
property, and any other intellectual property created, used or sold (through a
license or

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otherwise) by the Company or a Related Entity, electronic data information
know-how and processes, innovations, discoveries, improvements, research,
development, test results, reports, specifications, data, formats, marketing
data and plans, business plans, strategies, forecasts, unpublished financial
information, orders, agreements and other forms of documents, price and cost
information, merchandising opportunities, expansion plans, budgets, projections,
customer, supplier, licensee, licensor and subcontractor identities,
characteristics, agreements and operating procedures, and salary, staffing and
employment information.

                     (b) Protection of Confidential Information. Employee
acknowledges and agrees that in the performance of Employee's duties hereunder
the Company and the Related Entities may disclose to and entrust Employee with
Confidential Information which is the exclusive property of such entities and
which Employee may possess or use only in the performance of Employee's duties
to the Company. Employee also acknowledges that Employee is aware that the
unauthorized disclosure of Confidential Information, among other things, may be
prejudicial to the Company's interests or those of a Related Entity, an invasion
of privacy and an improper disclosure of trade secrets. Employee shall not,
directly or indirectly, use, make available, sell, disclose or otherwise
communicate to any corporation, partnership or other entity, individual or other
third party, other than in the course of Employee's assigned duties and for the
benefit of the Company, any Confidential Information, either during the Term or
thereafter. In the event Employee desires to publish the results of Employee's
work for or experiences with the Company or any Related Entity through
literature, interviews or speeches, Employee will submit requests for such
interviews or such literature or speeches to the Chief Employee Officer of the
Company at least fourteen (14) days before any anticipated dissemination of such
information for a determination of whether such disclosure is in the best
interests of the Company, including whether such disclosure may impair trade
secret status or constitute an invasion of privacy. Employee agrees not to
publish, disclose or otherwise disseminate such information without the prior
written approval of the Chief Employee Officer of the Company.

                     (c) Delivery of Records, Etc. In the event Employee's
employment with the Company ceases for any reason, Employee will not remove from
the Company's premises without its prior written consent any records (written or
electronic), files, drawings, documents, equipment, materials and writings
received from, created for or belonging to the Company or any Related Entity,
including those which relate to or contain Confidential Information, or any
copies thereof. Upon request or when employment with the Company terminates,
Employee will immediately deliver the same to the Company.

                  7. Assignment and Transfer.

                     (a) Company. This Agreement shall inure to the benefit of
and be enforceable by, and may be assigned by the Company to, any purchaser of
all or substantially all of the Company's business or assets, any successor to
the Company or any assignee thereof (whether direct or indirect, by purchase,
merger, consolidation or otherwise).

                     (b) Employee. Employee's rights and obligations under this
Agreement shall not be transferable by Employee by assignment or otherwise, and
any purported assignment, transfer or delegation thereof shall be void;
provided, however, that if Employee shall die, all amounts then payable to
Employee hereunder shall be paid in accordance with the

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terms of this Agreement to Employee's devisee, legatee or other designee or, if
there be no such designee, to Employee's estate.

                  8. Miscellaneous.

                     (a) Other Obligations. Employee represents and warrants
that neither Employee's employment with the Company nor Employee's performance
of Employee's obligations hereunder will conflict with or violate or otherwise
are inconsistent with any other obligations, legal or otherwise, which Employee
may have. Employee covenants that she shall perform her duties hereunder in a
professional manner and not in conflict or violation, or otherwise inconsistent
with other obligations legal or otherwise, which Employee may have.

                     (b) Nondisclosure; Other Employers. Employee will not
disclose to the Company, or use, or induce the Company to use, any proprietary
information, trade secrets or confidential business information of others.
Employee represents and warrants that Employee does not possess any property,
proprietary information, trade secrets and confidential business information
belonging to all prior employers.

                     (c) Cooperation. Following termination of employment with
the Company for any reason, Employee shall cooperate with the Company, as
requested by the Company, to affect a transition of Employee's responsibilities
and to ensure that the Company is aware of all matters being handled by
Employee.

                     (d) No Duty to Mitigate. Employee shall be under no duty to
mitigate any losses or damage to the Company with respect to any severance or
other amounts payable pursuant to Section 4 of this Agreement.

                     (e) Protection of Reputation. During the Term and
thereafter, Employee agrees that she will take not action which is intended, or
would reasonably be expected, to harm the Company or its reputation or which
would reasonably be expected to lead to unwanted or unfavorable publicity to the
Company.

                     (f) Governing Law. This Agreement shall be governed by and
construed in accordance with the internal laws of the State of New York, without
regard to principles of the conflict of laws thereof.

                     (g) Jurisdiction; Forum. Each party hereto consents and
submits to the jurisdiction of any state or federal court sitting in the State,
City, and County of New York in connection with any dispute arising out of or
relating to this Agreement. Each party hereto waives any objection to the laying
of venue in such courts and any claim that any such action has been brought in
an inconvenient forum. To the extent permitted by law, any judgment in respect
of a dispute arising out of or relating to this Agreement may be enforced in any
other jurisdiction within or outside the United States by suit on the judgment,
a certified copy of such judgment being conclusive evidence of the fact and
amount of such judgment.

                     (h) Waiver of Jury Trial. Each of the parties hereto
irrevocably waives any and all right to trial by jury with respect to any
action, claim or other proceeding arising out of or relating to this Agreement.

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                     (i) Entire Agreement. This Agreement (including all
exhibits and schedules hereto) contains the entire agreement and understanding
between the parties hereto in respect of Employee's employment and supersedes,
cancels and annuls any prior or contemporaneous written or oral agreements,
understandings, commitments and practices between them respecting Employee's
employment, including all prior employment agreements, if any, between the
Company and Employee, which agreement(s) hereby are terminated and shall be of
no further force or effect.

                     (j) Amendment. This Agreement may be amended only by a
writing which makes express reference to this Agreement as the subject of such
amendment and which is signed by Employee and, on behalf of the Company, by its
duly authorized officer.

                     (k) Severability. If any term, provision, covenant or
condition of this Agreement or part thereof, or the application thereof to any
person, place or circumstance, shall be held to be invalid, unenforceable or
void by a court of competent jurisdiction, the remainder of this Agreement and
such term, provision, covenant or condition shall remain in full force and
effect, and any such invalid, unenforceable or void term, provision, covenant or
condition shall be deemed, without further action on the part of the parties
hereto, modified, amended and limited, and the court shall have the power to
modify, to the extent necessary to render the same and the remainder of this
Agreement valid, enforceable and lawful. In this regard, Employee acknowledges
that the provisions of Sections 5 and 6 of this Agreement are reasonable and
necessary for the protection of the Company.

                     (l) Construction. The headings and captions of this
Agreement are provided for convenience only and are intended to have no effect
in construing or interpreting this Agreement. The language in all parts of this
Agreement shall be in all cases construed according to its fair meaning and not
strictly for or against the Company or Employee. The use herein of the word
"including," when following any general provision, sentence, clause, statement,
term or matter, shall be deemed to mean "including, without limitation." As used
herein, "Company" shall mean the Company and its subsidiaries and any purchaser
of, successor to or assignee (whether direct or indirect, by purchase, merger,
consolidation or otherwise) of all or substantially all of the Company's
business or assets which is obligated to perform this Agreement by operation of
law, agreement pursuant to Section 7 of this Agreement or otherwise. As used
herein, the words "day" or "days" shall mean a calendar day or days.

                     (m) Nonwaiver. Neither any course of dealing nor any
failure or neglect of either party hereto in any instance to exercise any right,
power or privilege hereunder or under law shall constitute a waiver of any other
right, power or privilege or of the same right, power or privilege in any other
instance. All waivers by either party hereto must be contained in a written
instrument signed by the party to be charged and, in the case of the Company, by
its duly authorized officer.

                     (n) Remedies for Breach. The parties hereto agree that
Employee is obligated under this Agreement to render personal services during
the Term of a special, unique, unusual, extraordinary and intellectual
character, thereby giving this Agreement special value, and, in the event of a
breach or threatened breach of any covenant of Employee herein, the injury or
imminent injury to the value and the goodwill of the Company's business could
not be

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reasonably or adequately compensated in damages in an action at law.
Accordingly, Employee expressly acknowledges that the Company shall be entitled
to specific performance, injunctive relief or any other equitable remedy against
Employee, without the posting of a bond, in the event of any breach or
threatened breach of any provision of this Agreement by Employee (including,
without limitation, Sections 5 and 6). Without limiting the generality of the
foregoing, if Employee breaches or threatens to breach Section 5 or 6 of this
Agreement, such breach or threatened breach will entitle the Company, without
posting of bond, to an injunction prohibiting (i) Employee from disclosing any
Confidential Information to any Competing Business; (ii) such Competing Business
from receiving from Employee or using any such Confidential Information; and
(iii) Employee from, indirectly or directly, owning, managing, operating,
joining, controlling, participating in, investing in or otherwise being
connected or associated with, in any manner, any such Competing Business. The
rights and remedies of the parties hereto are cumulative and shall not be
exclusive, and each such party shall be entitled to pursue all legal and
equitable rights and remedies and to secure performance of the obligations and
duties of the other under this Agreement, and the enforcement of one or more of
such rights and remedies by a party shall in no way preclude such party from
pursuing, at the same time or subsequently, any and all other rights and
remedies available to it.

                     (o) Notices. Any notice, request, consent or approval
required or permitted to be given under this Agreement or pursuant to law shall
be sufficient if in writing, and if and when sent by certified or registered
mail, return receipt requested, with postage prepaid, to Employee's residence
(as reflected in the Company's records or as otherwise designated by Employee on
thirty (30) days' prior written notice to the Company) or to the Company's
principal Employee office, attention: President, as the case may be. All such
notices, requests, consents and approvals shall be effective upon being
deposited in the United States mail. However, the time period in which a
response thereto must be given shall commence to run from the date of receipt on
the return receipt of the notice, request, consent or approval by the addressee
thereof. Rejection or other refusal to accept, or the inability to deliver
because of changed address of which no notice was given as provided herein,
shall be deemed to be receipt of the notice, request, consent or approval sent.

                     (p) Assistance in Proceedings, Etc. Employee shall, without
additional compensation, during and after expiration of the Term, upon
reasonable notice, furnish such information and proper assistance to the Company
as may reasonably be required by the Company in connection with any legal or
quasi-legal proceeding, including any external or internal investigation,
involving the Company or any of its affiliates or in which any of them is, or
may become, a party.

                     (q) Survival. Cessation or termination of Employee's
employment with the Company shall not result in termination of this Agreement.
The respective obligations of Employee and rights and benefits afforded to the
Company as provided in this Agreement shall survive cessation or termination of
Employee's employment hereunder.

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                  IN WITNESS  WHEREOF,  the Company has caused this Agreement to
be duly  executed  on its behalf by an officer  thereunto  duly  authorized  and
Employee has duly  executed  this  Agreement,  all as of the date and year first
written above.

ATLANTIC TECHNOLOGY VENTURES, INC.                  EMPLOYEE:

By:_____________________________                    ___________________________
     Name:                                          Kelly Harris
     Title:

                                       10Exhibit 10.4

                             STOCKHOLDERS AGREEMENT

         This stockholders agreement is dated May 12, 2000, and is between
TERACOMM RESEARCH, INC., a Delaware corporation ("TeraComm"), each of the
stockholders of TeraComm listed on Exhibit A (each a "Common Stockholder"), and
ATLANTIC TECHNOLOGY VENTURES, INC. , a Delaware corporation ("Atlantic";
together with all other holders of Preferred Stock, the "Preferred
Stockholders"; and the Preferred Stockholders together with the Common
Stockholders, each a "Stockholder").

         The Common Stockholders each hold shares of common stock, par value
$0.001, of TeraComm (the "Common Stock").

         Atlantic and TeraComm are concurrently with execution and delivery of
this agreement entering into a stock purchase agreement (the "Stock Purchase
Agreement") pursuant to which TeraComm is issuing to Atlantic 1,400 shares of
Series A preferred stock, par value $0.001 per share, of TeraComm (the
"Preferred Stock"; together with the Common Stock, the "Capital Stock").

         TeraComm and each of the Stockholders desire, for their mutual benefit
and protection, to enter into this agreement to set forth their respective
rights and obligations with respect to their shares of Capital Stock.

         TeraComm and the Stockholders therefore agree as follows:

                                   ARTICLE 1
                       CORPORATE GOVERNANCE AND MANAGEMENT

         1.1 Voting. The Stockholders hold all shares of Capital Stock
registered in their respective names or beneficially owned by them as of the
date of this agreement (and any shares of Capital Stock legally or beneficially
acquired by each of them after the date of this agreement) subject to, and shall
vote those shares of Capital Stock in accordance with, the provisions of this
agreement.

         1.2 Election of Directors. (a) Immediately following execution and
deliver of this agreement, and any time thereafter TeraComm's stockholders act
to elect members of TeraComm's board of directors, the Stockholders shall take
such actions (whether by vote in person, by proxy or by written consent)
required to establish at five the number of members of TeraComm's board of
directors, and to elect as those members two individuals designated by the
Preferred Stockholders and three individuals designated by the Common
Stockholders, except that if at anytime the Preferred Stockholders own fewer
than 1,400 shares of Preferred Stock, they will only have the right to designate
only one member of TeraComm's board of directors.

               (b) No designee of the Preferred Stockholders on TeraComm's board
of directors may be removed without the consent of the Preferred Stockholders.
If the Preferred Stockholders notify the Common Stockholders that they wish to
have removed a designee of the Preferred Stockholders on TeraComm's board of
directors, the Common Stockholders shall take such

<PAGE>

actions, or cause their designees on TeraComm's board of directors to cause
TeraComm to take such actions, as are required to remove that designee. In the
event that a member of TeraComm's board of directors resigns, is removed or is
otherwise unable to serve in that capacity, the Stockholder or Stockholders
entitled to designate that member shall designate a replacement and the
Stockholders shall take such actions, or cause their designees on TeraComm's
board of directors to cause TeraComm to take such actions, as are required to
elect the replacement member.

               (c) Atlantic hereby designates A. Joseph Rudick and Frederic P.
Zotos as the initial designees of the Preferred Stockholders on TeraComm's board
of directors, and the Common Stockholders designate Kenneth A. Puzey, Thomas G.
Ference and Nancy Hamilton as their initial designees on TeraComm's board of
directors, to be elected to TeraComm's board of directors immediately following
execution and deliver of this agreement.

                                   ARTICLE 2
                       TRANSFER OF SHARES OF CAPITAL STOCK

         2.1 Restrictions on Transfer. (a) No Stockholder may sell, assign,
exchange, give, pledge, mortgage or otherwise transfer (collectively,
"transfer"; the act of so doing, a "transfer") any of the shares of Capital
Stock currently owned by it, or any other shares of Capital Stock that it
acquires, or any right or interest therein, whether voluntarily or
involuntarily, by operation of law or otherwise, except in accordance with the
terms of this agreement and in compliance with any and all applicable Federal
and state securities laws. Any such purported transfer in violation of this
agreement will be void.

               (b) If a Stockholder transfers its shares of Capital Stock to a
Person that is not a Stockholder, that transfer will only be valid if the Person
acquiring those shares agrees in writing, prior to the transfer, to be bound by
the terms of this agreement to the same extent that the transferring Stockholder
was bound by this agreement immediately prior to the transfer. If that Person so
agrees, then upon completion of the transfer it will become a party to this
agreement.

         2.2 Transfers to Related Transferees. Each Stockholder may freely
transfer Shares to any Related Transferee.

         2.3 Right of First Refusal. (a) Subject to Section 2.1(b), if at any
time any Common Stockholder proposes to transfer any of its shares of Common
Stock to any Person other than the Preferred Stockholders (that Common
Stockholder, a "Selling Stockholder"), the Selling Stockholder shall give
written notice to the Preferred Stockholders describing fully and accurately the
proposed transfer, including the number of shares of Common Stock it proposes to
transfer, the identity of the proposed transferee (the "Outside Party"), and the
proposed price and payment terms of the proposed transfer (that notice, the
"Transfer Notice"). The payment terms of the contemplated transfer to the
Outside Party from the Selling Stockholder must be expressed in terms of cash,
cash equivalents (such as certificates of deposit, shares of stock in
publicly-traded companies, and the like) or a promissory note of the Outside
Party payable on one or more

                                       2

<PAGE>

dates specified in the Transfer Notice. The Outside Party's offer must be a bona
fide written offer of a Person other than TeraComm.

               (b) At any time within the 10-day period immediately following
the Preferred Stockholders' receipt of the Transfer Notice, the Preferred
Stockholders may by written notice to the Selling Stockholder elect to purchase
all the shares of Common Stock subject to the Transfer Notice (the "Refusal
Shares") at the price per share set forth in the Transfer Notice (this right,
the "Right of First Refusal").

               (c) The closing of any purchase of the Refusal Shares by the
Preferred Stockholders pursuant to the Right of First Refusal must be held at
TeraComm's offices on a date and at a time designated by the Preferred
Stockholders in their notice of exercise of the Right of First Refusal, but the
closing must be held no later than 60 days after delivery of the Transfer
Notice.

               (d) If the Preferred Stockholders fail to exercise timely the
Right of First Refusal upon the terms set forth in the Transfer Notice, or elect
to purchase the Refusal Shares, but fail to close the purchases of the Refusal
Shares within the period specified therefor in Section 2.3(c), then the Selling
Stockholder may not later than 120 days following delivery of the Transfer
Notice transfer the Refusal Shares on the terms described in the Transfer
Notice. Any proposed transfer on terms materially different to those described
in the Transfer Notice, as well as any proposed transfer by the Selling
Stockholder after the expiration of the 120-day period, will again be subject to
the Right of First Refusal, and in connection with any such proposed transfer
the Selling Stockholder must comply with the procedure described in this Section
2.3.

               (e) At any closing under this Section 2.3 any Selling Stockholder
effecting a transfer of shares of Common Stock shall deliver, against wire
transfer of payment for those shares to an account designated in writing by that
Selling Stockholder, certificates representing those shares duly endorsed in
blank or accompanied by appropriate duly-executed assignments or stock powers
for transfer.

         2.4 Involuntary Transfer. Without limiting the effect of Sections 2.1
and 2.2, in the case of any purported transfer of title to or beneficial
ownership of any shares of Capital Stock upon default, foreclosure, forfeit,
court order, or otherwise than by a voluntary decision on the part of a
Stockholder (an "Involuntary Transfer"), that Stockholder (or its legal
representatives) shall promptly (but in no event later than two business days
after that Involuntary Transfer) furnish written notice to TeraComm indicating
that the Involuntary Transfer has occurred, specifying the name of the Person to
whom the shares have been transferred, and giving a detailed description of the
circumstances giving rise to, and stating the legal basis for, the Involuntary
Transfer.

         2.5 Improper Transfer. Any attempt to transfer any shares of Capital
Stock in violation of this agreement will be null and void, and TeraComm shall
not give any effect to such attempted transfer in its stock records.

                                       3

<PAGE>

                                   ARTICLE 3
                             RIGHT OF PARTICIPATION

         3.1 Right of Participation. Subject to the terms of this Section 3.1,
TeraComm hereby grants to each Stockholder the right to purchase that
Stockholder's Pro Rata Portion of any New Securities that TeraComm may, from
time to time, propose to sell and issue. A Stockholder's "Pro Rata Portion" for
purposes of this Section 2.1 is the ratio of (1) the sum of the number of shares
of Common Stock then held by that Stockholder and the number of shares of Common
Stock then issuable upon conversion of outstanding securities convertible into
or exercisable for shares of Common Stock (including shares of Preferred Stock)
held by that Stockholder bears to (2) the sum of the total number of shares of
Common Stock then outstanding and the number of shares of Common Stock then
issuable upon conversion of all outstanding securities convertible into or
exercisable for shares of Common Stock (including shares of Preferred Stock).

         3.2 Definition of New Securities. (a) Subject to Section 3.2(b), "New
Securities" means any security (including but not limited to shares of Common
Stock or Preferred Stock, whether authorized or not, and rights, options or
warrants to purchase shares of Common Stock or Preferred Stock, and securities
of any type whatsoever that are, or may become, convertible into shares of
Common Stock or Preferred Stock) that TeraComm issues after the date of this
Agreement.

               (b) The term New Securities does not include the following:

(1)      securities offered to the public generally pursuant to a registration
         statement effective under the Securities Act;

(2)      securities issued pursuant to the acquisition of another business by
         TeraComm by merger, purchase of all or substantially all of the assets
         or shares of the other business or other reorganization whereby
         TeraComm or its stockholders own not less than a majority of the voting
         power of the surviving or successor business;

(3)      any shares of Common Stock or options to purchase Common Stock
         (including any shares of Common Stock issued upon exercise of any such
         options) issued to officers, employees or directors of, or consultants
         to, TeraComm pursuant to any agreement, plan or arrangement approved by
         the TeraComm's board of directors;

(4)      any shares of Common Stock issued to any lender, customer or vendor of
         TeraComm, on condition that any such transaction or arrangement is
         approved by TeraComm's board of directors;

(5)      securities issued by TeraComm in connection with any stock split, stock
         dividend or recapitalization; and

(6)      securities issued by TeraComm upon conversion or exercise of other
         securities.

         3.3 Notice of Right. If TeraComm proposes to undertake an issuance of
New Securities, it shall give each Stockholder written notice of its intention,
describing the type of New Securities and the price and general terms upon which
TeraComm proposes to issue them.

                                       4

<PAGE>

If a Stockholder wishes to purchase any New Securities, it must within 15 days
of its receipt of any such notice provide TeraComm with a written notice stating
that it wishes to purchase New Securities for the price and upon the terms
specified in the notice and stating how many New Securities it wishes to
purchase (up to the amount referred to in Section 3.1).

         3.4 Exercise of Right. If any Stockholder exercises its right under
Section 3.1, the closing of the purchase by that Stockholder of the New
Securities with respect to which it has exercised its right must take place
within 30 days after the Stockholder gives notice of its exercise. This period
of time will be extended if necessary to permit TeraComm or that Stockholder to
comply with applicable laws and regulations. Upon any exercise of a
Stockholder's right under Section 3.1, TeraComm and that Stockholder must use
commercially reasonable efforts to consummate the purchase contemplated thereby
and shall use all reasonable efforts to secure any approvals required in
connection therewith.

         3.5 Lapse and Reinstatement of Right. (a) In the event any Stockholder
fails to or elects not to exercise its right under Section 3.1 within the 15-day
period specified in Section 3.3, the remaining Stockholders that have elected to
purchase their pro rata portions will be entitled to purchase any New Securities
that remain unpurchased. Each such Stockholder will have the right to purchase
those New Securities in the proportion that the sum of the number of shares of
Common Stock then held by that Stockholder and the number of shares of Common
Stock then issuable upon conversion of outstanding securities convertible into
or exercisable for shares of Common Stock (including shares of Preferred Stock)
held by that Stockholder (prior to receipt of the written notice of TeraComm
referred to in Section ) bears to the sum of the number of shares of Common
Stock then held by all Stockholders also electing to purchase the remaining New
Securities and the number of shares of Common Stock then issuable upon
conversion of outstanding securities convertible into or exercisable for shares
of Common Stock (including shares of Preferred Stock) held by all Stockholders
also electing to purchase the remaining New Securities. All such purchases must
be made within the period specified for closing specified in Section 3.4.

               (b) If after the 90-day period specified in Section 3.4 any New
Securities remain unpurchased, TeraComm may within 90 days sell or enter into an
agreement (pursuant to which the sale of New Securities covered thereby will be
closed, if at all, within 60 days from the date of that agreement) to sell those
New Securities at the price and upon the terms specified in the notice delivered
by TeraComm pursuant to Section 3.3. If TeraComm has not sold the New Securities
or entered into an agreement to sell the New Securities within that 90-day
period (or sold and issued New Securities in accordance with the foregoing
within 60 days of the date of any agreement to sell those New Securities),
TeraComm may not thereafter issue or sell any New Securities without first
offering those New Securities to the Stockholders in the manner provided in this
Article 3. Any offer by TeraComm of New Securities in addition to those
specified in the notice described in Section 3.3, whether on the same or
different terms as are specified therein, must comply with the terms of this
Article 3.

                                       5

<PAGE>

                                   ARTICLE 4
                                  MISCELLANEOUS

         4.1 Consent of Spouse. The spouse of each Stockholder who is an
individual and married has executed a Consent of Spouse in the form of Exhibit
B, which that Stockholder is delivering to Teracomm with this agreement..

         4.2 Stock Dividends. If during the term of this agreement there is any
stock dividend, stock split or similar other change in the character or amount
of any of the outstanding shares of Capital Stock, then any and all new,
substituted or additional securities to which the Stockholders are entitled by
reason of their ownership of shares of Capital Stock will immediately be subject
or entitled to the terms of this agreement with the same force and effect as the
shares of Capital Stock currently subject to this agreement without any further
action by the parties.

         4.3 Subsequent Issuances and Purchases. All shares of Capital Stock
that are issued to or purchased by any Stockholder after the date of this
agreement, including without limitation any obtained by exercise of any warrant
granted hereafter, or any stock option, will become immediately subject or
entitled to the terms of this agreement with the same force and effect as the
shares of Capital Stock currently subject to this agreement without further
action by the parties.

         4.4 Restrictive Legends. Except as otherwise provided in Section
4.4(c), TeraComm shall cause each certificate representing shares of Capital
Stock held by a Stockholder or a transferee to be stamped or otherwise imprinted
with a legend in substantially the following form:

         The securities represented by this certificate have not been registered
         under the Securities Act of 1933, as amended (the "Securities Act"), or
         registered or qualified under applicable state securities laws.
         TeraComm Research, Inc. ("TeraComm") is not required to give effect to
         any transfer of these securities unless (a) there is an effective
         registration statement under the Securities Act with respect to these
         securities and these securities are registered or qualified under
         applicable state securities laws, or (b) TeraComm is provided with an
         opinion of counsel reasonably acceptable to TeraComm to the effect that
         such transfer may be made without registration under the Securities Act
         and applicable state securities laws.

               (b) TeraComm shall cause each certificate representing shares of
Capital Stock held by a Stockholder or a transferee to include a legend in
substantially the following form:

         The securities represented by this certificate are subject to
         restrictions on transfer and other terms contained in a stockholders
         agreement dated May 12, 2000. You may obtain a copy of this agreement
         from TeraComm at its principal executive offices.

               (c) The legend requirements of Section 4.4(a) terminate as to any
shares of Capital Stock (1) when and so long as those shares have been
effectively registered under the Securities Act of 1933 as amended (the
"Securities Act"), and disposed of pursuant thereto or

                                       6

<PAGE>

(2) when TeraComm has determined that those shares may be transferred without
registration thereof under the Securities Act and that such legend may be
removed.

         4.5 Termination. The term of this agreement expires upon (1) the
written agreement of Atlantic and a majority of the then-outstanding shares held
by the Common Stockholders or (2) immediately prior to the occurrence of a
Qualified Public Offering (as defined in TeraComm's certificate of
incorporation), whichever occurs earlier.

         4.6 Governing Law. Except where the mandatory law of Delaware applies,
this agreement is governed by the laws of the State of New York, without giving
effect to principles of conflict of laws.

         4.7 Notices. Every notice or other communication required or
contemplated by this agreement must be in writing and sent by one of the
following methods: (1) personal delivery, in which case delivery is deemed to
occur the day of delivery; (2) certified or registered mail, postage prepaid,
return receipt requested, in which case delivery is deemed to occur the day it
is officially recorded by the U.S. Postal Service as delivered to the intended
recipient; or (3) next-day delivery to a U.S. address by recognized overnight
delivery service such as Federal Express, in which case delivery is deemed to
occur upon receipt. In each case, a notice or other communication sent to a
Stockholder must be directed to the address for that Stockholder as recorded on
TeraComm's books and records of TeraComm, and a notice or other communication
sent to TeraComm must be directed to the address set forth below:

         TeraComm Research, Inc.
         P.O. Box 163
         Essex Junction, VT  05453
         Attention:  Kenneth A. Puzey, President

         with a copy to:

         Ireland, Stapleton, Pryor & Pascoe, P.C.
         1675 Broadway
         Suite 2600
         Denver, CO 80202
         Attention:  Jack Lewis, Esq.

         4.8 Severability. If any provision of this agreement is held invalid or
unenforceable by any court of competent jurisdiction, the other provisions of
this agreement will remain in full force and effect. Any provision of this
agreement held invalid or unenforceable only in part or degree will remain in
full force and effect to the extent not held invalid or unenforceable.

         4.9 Definitions. As used in this agreement, the following terms have
the following meanings:

         "Affiliate" means, with respect to any given Person, any other Person
at the time directly or indirectly controlling, controlled by or under common
control with that Person. For purposes of this definition, "control" means the
possession, directly or indirectly, of the power to direct or

                                       7

<PAGE>

cause the direction of the management and policies of a Person, whether through
ownership of voting securities, by contract or otherwise.

         "Person" means any natural person, a sole proprietorship, a
corporation, a partnership, a limited liability company, a joint venture, an
association, a trust, or any other entity or organization, including a
government entity.

         "Related Transferee" means (1) with respect to any Stockholder who is
an individual, that Stockholder's spouse, any adult lineal descendants, the
adult spouse of any adult lineal descendant, and any trust for the benefit of
any minor or adult lineal descendants, and (2) with respect to any Stockholder
that is not an individual, any Affiliate of that Stockholder.

         4.10 Amendment. This agreement may not be amended except by an
instrument in writing signed on behalf of each of the parties.

         4.11 Entire Agreement. This agreement constitutes the entire agreement
among the parties pertaining to the subject matter hereof supersedes all prior
agreements, understandings, negotiations and discussions, whether oral or
written, of the parties.

         4.12 Counterparts. This agreement may be executed in several
counterparts, each of which is an original and all of which together constitute
one and the same instrument.

         The undersigned are executing this agreement on the date stated in the
introductory clause.

                                            TERACOMM RESEARCH, INC.

                                            By:___________________________
                                               Kenneth A. Puzey
                                               President

                                       8

<PAGE>

                           COUNTERPART SIGNATURE PAGE
                                       TO
                             STOCKHOLDERS AGREEMENT

                           (All joint owners to sign)

STOCKHOLDER:

______________________________________________
Print Name

______________________________________________
Signature

STOCKHOLDER:

______________________________________________
Print Name

______________________________________________
Signature

<PAGE>

                                                                      Exhibit A

                                  STOCKHOLDERS

Kennth A. Puzey
Thomas G. Ference
David L. Simon
Terry Allen
John M. Fife
David G. Weaver
Harvey Bordett
Donna M. Kaylor
Robert E. Nary
Wayne K. Higashi
Linda A. Meloro
Linda Pellegrino
Brian Slepian
Stephen C. Shear
Michael L. Edwards
Curtis B. Prochowski
Thomas S. Staron, Jr.
Mathew P. & Jennifer Haynos
Susan E. Murley
Jonathan H. Fay (custodians: Jon Fay
and Elaine Ploof)
Brian R. Kessler
Jed H. Rankin
Mark Staron
William D. Surdock

<PAGE>

                                                                       Exhibit B

                                CONSENT OF SPOUSE

         I am the spouse of one of the stockholders of TeraComm Research, Inc.
("TeraComm"), and I hereby agree as follows:

         1. I consent to my spouse's signing the agreement among TeraComm
stockholders (that agreement, the "Stockholders Agreement").

         2. I acknowledge that my spouse's interest in TeraComm shares is a
business interest that is subject to the sole management and control of my
spouse.

         3. I agree to be bound by the terms of the Stockholders Agreement and
agree that it applies to my community property interest, if any, in my spouse's
TeraComm shares.

         5. I acknowledge that TeraComm has recommended that I obtain separate
legal counsel before signing this consent, and that I have considered this
recommendation prior to signing this consent.

         6. I specifically consent to the provisions of the Stockholders
Agreement that impose restrictions on my spouse's transfer of his or her
TeraComm shares.

Effective Date:     Print Name:                    Signature:
---------------     -----------                    ---------

May 12, 2000        ________________________       ____________________________

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