Document:

KEYON
      COMMUNICATIONS HOLDINGS, INC.

    2007
      INCENTIVE STOCK AND AWARDS PLAN

     FORM
      OF STOCK OPTION AWARD

    

    [Name]

    [Address]

     

    You
      have
      been granted an option (your “Option”) to purchase shares of common stock of
      KeyOn Communications Holdings, Inc. (the “Company”) under the KeyOn
      Communications Holdings, Inc. 2007 Incentive Stock and Awards Plan (the “Plan”)
      with the following terms and conditions:

    

    
      	
              Grant
                Date:

            	 	
              __________,
                20__

            
	 	 	 
	
              Type
                of Option:

            	 	
              [Nonqualified
                or Incentive Stock Option]

            
	 	 	 
	
              Number
                of Option Shares:

            	 	
              __________________

            
	 	 	 
	
              Exercise
                Price per Share: 

            	 	
              U.S.
                $_____________

            
	 	 	 
	
              Vesting:

            	 	
              ________percent
                (___%) of your Option will vest and become exercisable on each of
                the
                first ______ anniversaries of the Grant Date. 

               

              [If
                your employment or service terminates as a result of death, Disability
                or
                Retirement (at a time when you could not be terminated for Cause),
                your
                Option will become fully vested on the date of such
                termination.]

               

              Upon
                any other termination of employment from, or cessation of services
                to, the
                Company and its Affiliates, the unvested portion of your Option will
                terminate. 

            
	 	 	 
	
              Termination
                Date:

            	 	
              Your
                Option expires at, and cannot be exercised after, the close of business
                at
                the Company’s headquarters on the earliest to occur of:

               

              · The
                tenth (10th) anniversary of the Grant Date;

               

              · ________
                (___) days after your termination of employment or service as a result
                of
                death or Disability;

               

              · ________
                (___) days after your termination of employment or service as a result
                of
                Retirement; or

               

              · ________
                (___) days after your termination of employment or service for any
                other
                reason.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	 	
              If
                the date this Option terminates as specified above falls on a day
                on which
                the stock market is not open for trading, the termination date shall
                be
                automatically extended to the first trading day following the original
                termination date, but not beyond the tenth (10th) anniversary of
                the Grant
                Date. 

               

              Notwithstanding
                the above, your entire Option (whether vested or nonvested) is terminated
                immediately if the Company or an Affiliate terminates you for Cause,
                or if
                your employment or service is terminated at a time when you could
                be
                terminated for Cause. In addition, if you are not terminated for
                Cause but
                the Committee later determines that you could have been terminated
                for
                Cause if all facts had been known at that time, your Option will
                terminate
                immediately on the date of such determination. If you have submitted
                a
                notice of exercise while the Committee is considering whether you
                should
                be (or could have been) terminated for Cause, your exercise will
                be
                suspended pending such determination. If it is determined that you
                are (or
                could have been) terminated for Cause, your Option will terminate,
                and if
                applicable, your notice of exercise will be rescinded and your exercise
                price will be returned to you. 

            
	 	 	 
	
              Manner
                of Exercise:

            	 	
              You
                may exercise your Option only to the extent vested and only if it
                has not
                terminated. To exercise your Option, you must complete the “Notice of
                Stock Option Exercise” form provided by the Company and return it to the
                address indicated on the form. The form will be effective when it
                is
                received by the Company, but exercise will not be completed until
                you pay
                the total exercise price and all applicable withholding taxes due
                as a
                result of the exercise to the Company. 

               

              If
                someone else wants to exercise your Option after your death, that
                person
                must contact the Company and prove to the Company’s satisfaction that he
                or she is entitled to do so. 

               

              Your
                ability to exercise your Option may be restricted by the Company
                if
                required by applicable law. 

            
	 	 	 
	
              Restrictions
                on Resale:

            	 	
              By
                accepting your Option, you agree not to sell any Shares acquired
                under
                your Option at a time when applicable laws, Company policies or an
                agreement between the Company and its underwriters prohibit a sale.
                

            
	 	 	 
	
              Notice
                of Sale:

            	 	
              If
                your Option is designated as an incentive stock option, you must
                promptly
                report to the Secretary of the Company any disposition of the Shares
                acquired under your Option that is made within two (2) years from
                the
                Grant Date or within twelve (12) months from the date you acquired
                the
                Shares (the “Notice Period”). In addition, the Company may, at any time
                during the Notice Period, place a legend or legends on any certificate(s)
                for the Shares issued under your Option requesting the Company’s transfer
                agent to notify the Company of any transfer of the Shares.
                

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	
              Miscellaneous:

            	 	
              ·  
                  As
                a condition of the granting of your Option, you agree, for yourself
                and
                your legal representatives or guardians, that this Stock Option Award
                shall be interpreted by the Committee and that any interpretation
                by the
                Committee of the terms of this Stock Option Award or the Plan and
                any
                determination made by the Committee pursuant to this Stock Option
                Award or
                the Plan shall be final, binding and conclusive.

               

              ·    
                 This
                Stock Option Award may be executed in
                counterparts.

            

    

     

    Your
      Option is granted under and governed by the terms and conditions of the Plan.
      Additional provisions regarding your Option and definitions of capitalized
      terms
      used and not defined in your Option can be found in the Plan. 

     

    BY
      SIGNING BELOW AND ACCEPTING THIS STOCK OPTION AWARD, YOU AGREE TO ALL OF THE
      TERMS AND CONDITIONS DESCRIBED HEREIN AND IN THE PLAN. YOU ALSO ACKNOWLEDGE
      RECEIPT OF THE PLAN.

    

    
      	
              
                

              

              Authorized
                Officer

            	 	
              
                
 Optionee

            

    

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      KEYON
        COMMUNICATIONS HOLDINGS, INC.
NOTICE
      OF STOCK OPTION EXERCISE

     

    Your
      completed form should be sent by mail or fax to:____________________________.
      Phone: ___________________ Fax: _____________________________________.
Incomplete
      forms may cause a delay in processing your option
      exercise.

    

      
        	
                PART
                  1: OPTIONEE INFORMATION

              	
                Please
                  complete the following.
                  PLEASE
                  WRITE YOUR

              
	
                FULL
                  LEGAL NAME SINCE THIS NAME WILL BE ON YOUR STOCK
                  CERTIFICATE.

              

      

    

     

    Name:
      

    
      

    

    Street
      Address: 

    
      

    

     

    City:
      ________________________ 
      State:
      ____________________ Zip
      Code:
      _______________   

     

    Work
      Phone #: (_____) - _______- ________ Home Phone #: (_____) - _______-
      ____________

     

    Social
      Security #: ______ - _____ - _______

     

    
      	
              PART
                2: DESCRIPTION OF OPTION(S) BEING EXERCISED

            	
              Please
                complete the following.

            
	
              for
                each option that you wish to
                exercise.

            

    

     

    
      
        	
                Date
                  of Grant

              	 	
                Type
                  of Option

                (specify
                  ISO or NQSO)

              	 	
                Exercise
                  Price Per Share

              	 	
                Number
                  of Option Shares Being Purchased

              	 	
                Aggregate
                  Exercise Price (multiply Exercise Price Per Share by number of
                  Option
                  Shares being purchased)

              
	 	 	 	 	
                $

              	 	 	 	
                $

              
	 	 	 	 	
                $

              	 	 	 	
                $

              
	 	 	 	 	
                $

              	 	 	 	
                $

              
	 	 	 	 	
                $

              	 	 	 	
                $

              
	 	 	 	 	
                $

              	 	 	 	
                $

              

      

    

     

    The
      Total
      Exercise Price for all of the options being exercised (as listed above) is:
      $_________________.

     

    
      
        	
                PART
                  3: METHOD OF PAYMENT OF OPTION EXERCISE PRICE

              	
                Please
                  select only one:

              

      

    

     

    
      	
              o

            	
              Cash
                Exercise.
                I
                am enclosing a check or money order payable to “KeyOn Communications
                Holdings, Inc.” for the Total Exercise Price.

            

    

     

    
      	
              o

            	
              Cashless
                Exercise Through a Broker-Dealer.
                I
                have requested through the broker specified below to (select
                only one):

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	
              o

            	
              Sell
                to Cover.
                Sell or margin only enough of the option(s) being exercised to cover
                the
                Total Exercise Price (and tax withholding, if elected in Part 5),
                deliver
                the sale or margin loan proceeds directly to KeyOn Communications
                Holdings, Inc., and deposit the remaining shares and any residual
                cash in
                my brokerage account.

            

    

     

    
      	
              o

            	
              Same-Day-Sale.
                Sell or margin all of the shares of common stock issuable upon exercise
                of
                the option(s), deliver a portion of the sale or margin loan proceeds
                directly to KeyOn Communications Holdings, Inc. to pay the Total
                Exercise
                Price (and tax withholding, if elected in Part 5), and deposit any
                remaining cash proceeds in my brokerage
                account.

            

    

     

    Sale
      Price*: _______________________  Sale
      Date*:  ____________________     

     

    *The
      sale price and sale date are required in order to execute the cashless
      exercise.

     

    Broker-Dealer
      Name: 
________________________________________________________________________ 

     

    Contact
      Person:
      ______________________________________________________________________________

     

    DWAC
      -
      Depository Trust Company (DTC) #:
      _____________________________________________________

     

    Brokerage
      Account #:
      __________________________________________________________________________

     

    Broker
      Phone #: (_________ )-________-__________ Broker
      Fax #: (__________ )-___________ 
      -
      _________   

     

    It
      is your responsibility to contact a broker to open a brokerage account and
      sell
      your stock option shares. KeyOn Communications Holdings, Inc. WILL NOT send
      this
      form to your broker.

    

      
        	
                PART
                  4: CERTIFICATE MAILING INSTRUCTIONS

              	
                To
                  be completed for cash exercises only and

              
	
                only
                  if the certificate for the purchased shares is to be sent to a
                  different
                  address than specified in Part 1.

              
	
                (Shares
                  issued pursuant to a cashless exercise through a broker-dealer
                  will be
                  automatically sent to your

              
	
                specified
                  broker.)

              

      

    

     

    The
      certificate for the purchased shares should be sent to the following
      address:

     

    Street
      Address:
      _____________________________________________________________________       

     

    City:
      __________________________
      State:
      ____________________ 
      Zip
      Code: _________________

     

    
      	
              PART
                5: METHOD OF SATISFYING TAX WITHHOLDING OBLIGATION

            	
              Please
                select only one.

            
	
              You
                do not need to complete this Part if you are exercising only incentive
                stock options (ISOs) or if you

            
	
              are
                a non-employee director.

            

    

     

    
      	
              o

            	
              Broker
                Exercise.
                I
                have elected to exercise my option(s) through a broker in Part 3.
                The
                broker will sell sufficient shares to pay for the tax amount and
                will
                remit that amount to KeyOn Communications Holdings,
                Inc.

            

    

     

    
      	
              o

            	
              Cash.
                I
                am enclosing a check or money order payable to “KeyOn Communications
                Holdings, Inc.” for the withholding tax
                amount.

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

      
        	
                PART
                  6: ACKNOWLEDGEMENTS AND
                  SIGNATURE

              

      

    

    
       

    

    
      	
              1.

            	
              I
                understand that all sales of the KeyOn Communications Holdings, Inc.
                common stock received upon exercise of this option are subject to
                compliance with the company’s policy on securities
                trades.

            

    

     

    
      	
              2.

            	
              I
                hereby acknowledge that I have read a copy of the prospectus describing
                the KeyOn Communications Holdings, Inc. plan under which the option(s)
                listed above were issued, and understand the tax consequences of
                an
                exercise.

            

    

     

    
      	
              3.

            	
              I
                understand that this notice cannot be revoked by me if I have selected
                a
                cashless exercise through a broker-dealer. I personally guarantee
                that the
                Total Exercise Price and applicable taxes will be paid to KeyOn
                Communications Holdings, Inc. in full in the event the Company does
                not
                receive the full amount from the Broker for any
                reason.

            

    

     

    
      	
              Signature:_________________________________ 
                Date:
                _____________________   

            

    

    

    *
      * * * *
      *

    

      
        	
                To
                  be completed by Corporate Human Resource
                  Department:

              
	 
	
                Received
                  by: ___________________________________________________

              
	 
	
                Date
                  received:
                  _______________________________________________________________

              

      

    

     

    
      
        
        

      

      
        6KEYON
      COMMUNICATIONS HOLDINGS,
      INC. 

    2007
      INCENTIVE AND STOCK AWARDS PLAN

    FORM
      OF RESTRICTED STOCK AWARD

     

    [Name]

    [Address]

     

    You
      have
      been granted a Restricted Stock award for shares of common stock of KeyOn
      Communications Holdings, Inc. (the “Company”) under the KeyOn Communications
      Holdings, Inc. 2007 Incentive Stock and Awards Plan (the “Plan”) with the
      following terms and conditions:

     

    

    
      	
              Grant
                Date:

            	 	
              __________,
                200___

            
	 	 	 
	
              Number
                of Restricted 

              Shares:

            	 	
              __________________
                Shares

            
	 	 	 
	
              Vesting
                Schedule:

            	 	
              ______________
                percent (____%) of your Restricted Shares will vest on each of the
                first
                _____ anniversaries of the Grant Date.

               

              [If
                your employment or service terminates as a result of death or Disability
                (at a time you could not be terminated for Cause), your Restricted
                Shares
                will become fully vested on the date of such termination.] 

               

              Upon
                any other termination of employment or service, you will forfeit
                the
                Restricted Shares that have not yet vested. 

            
	 	 	 
	
              [Issuance
                of Certificates][Escrow]:

            	 	
              [Issuance:]
                The Company will issue certificate(s) evidencing your Restricted
                Shares in
                your name as soon as practicable following your execution of this
                Award.
                In addition to any other legends placed on the certificate(s), such
                certificate(s) will bear the following legend:

               

              “The
                sale or other transfer of the Shares represented by this certificate,
                whether voluntary or by operation of law, is subject to restrictions
                set
                forth in a Restricted Stock Award agreement, dated as of
                ______________________, by and between KeyOn Communications Holdings,
                Inc.
                and the registered owner hereof. A copy of such agreement may be
                obtained
                from the Secretary of KeyOn Communications Holdings, Inc.” 

               

              Upon
                the vesting of your Restricted Shares, you will be entitled to a
                new
                certificate for the Shares that have vested, without the foregoing
                legend,
                upon making a request for such certificate to the Secretary of the
                Company.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	 	
              [Escrow:]
                Your Restricted Shares will be held in escrow by the Company, as
                escrow
                agent. The Company will give you a receipt for the Shares held in
                escrow
                that will state that the Company holds such Shares in escrow for
                your
                account, subject to the terms of this Award, and you will give the
                Company
                a stock power for such Shares duly endorsed in blank which will be
                used in
                the event such Shares are forfeited in whole or in part. As soon
                as
                practicable after the vesting date, your Restricted Shares will cease
                to
                be held in escrow, and certificate(s) for such number of Shares will
                be
                delivered to you or, in the case of your death, to your
                estate.

            
	 	 	 
	
              Transferability
                of 

              Restricted
                Shares:

            	 	
              You
                may not sell, transfer or otherwise alienate or hypothecate any of
                your
                Restricted Shares until they are vested. In addition, by accepting
                this
                Award, you agree not to sell any Shares acquired under this Award
                at a
                time when applicable laws, Company policies or an agreement between
                the
                Company and its underwriters prohibit a sale.

            
	 	 	 
	
              Voting
                and Dividends:

            	 	
              While
                your Restricted Shares are subject to forfeiture, you may exercise
                full
                voting rights and will receive all dividends and other distributions
                paid
                with respect to your Restricted Shares, in each case so long as the
                applicable record date occurs before you forfeit such Shares. If,
                however,
                any such dividends or distributions are paid in Shares, such Shares
                will
                be subject to the same risk of forfeiture, restrictions on transferability
                and other terms of this Award as are your Restricted Shares with
                respect
                to which they were paid.

            
	 	 	 
	
              Tax
                Withholding:

            	 	
              To
                the extent that the receipt or the vesting of your Restricted Shares,
                or
                the payment of dividends on your Restricted Shares, results in income
                to
                you for Federal, state or local income tax purposes, you shall deliver
                to
                the Company at the time the Company is obligated to withhold taxes
                in
                connection with such receipt, vesting or payment, as the case may
                be, such
                amount as the Company requires to meet its withholding obligation
                under
                applicable tax laws or regulations, and if you fail to do so, the
                Company
                has the right and authority to deduct or withhold from other compensation
                payable to you an amount sufficient to satisfy its withholding
                obligations. If you do not make an election under Section 83(b) of
                the
                Internal Revenue Code of 1986, as amended, in connection with this
                Award,
                you may satisfy the withholding requirement in connection with the
                vesting
                of your Restricted Shares, in whole or in part, [if
                escrow:
                by electing to have the Company withhold for its own account that
                number
                of Restricted Shares otherwise deliverable to you from escrow hereunder
                on
                the date the tax is to be determined] [if
                issue:
                by electing to deliver to the Company that number of Restricted Shares
                (that would otherwise be vested on the date the tax is
                determined)]
                having an aggregate Fair Market Value on the date the tax is to be
                determined equal to the minimum statutory total tax that the Company
                must
                withhold in connection with the vesting of such Shares. Your election
                must
                be irrevocable, in writing, and submitted to the Secretary of the
                Company
                before the applicable vesting date. The Fair Market Value of any
                fractional Share not used to satisfy the withholding obligation (as
                determined on the date the tax is determined) will be paid to you
                in
                cash.

            

    

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

     

    
      	
              Miscellaneous:

            	
               

            	
              · As
                a condition of the granting of this Restricted Stock Award, you agree,
                for
                yourself and your legal representatives or guardians, that this Restricted
                Stock Award shall be interpreted by the Committee and that any
                interpretation by the Committee of the terms of this Restricted Stock
                Award or the Plan and any determination made by the Committee pursuant
                to
                this Restricted Stock Award shall be final, binding and
                conclusive.

               

              · This
                Restricted Stock Award may be executed in
                counterparts.

            

    

     

    This
      Restricted Stock Award is granted under and governed by the terms and conditions
      of the Plan. Additional provisions regarding your Award and definitions of
      capitalized terms used and not defined in this Restricted Stock Award can be
      found in the Plan. 

     

    BY
      SIGNING BELOW AND ACCEPTING THIS RESTRICTED STOCK AWARD, YOU 

    AGREE
      TO
      ALL OF THE TERMS AND CONDITIONS DESCRIBED HEREIN AND IN THE 

    PLAN.
      YOU
      ALSO ACKNOWLEDGE RECEIPT OF THE PLAN.

     

    

    
      	
               

                

              

              Authorized
                Officer

            	 	
               

              
                

              

              Recipient

            

    

    

    
      
        
        

      

      
        3

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