Document:

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                                                                    Exhibit 4.15

THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
"SECURITIES ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED
OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT AND UNDER
APPLICABLE STATE SECURITIES LAWS OR SPEEDCOM WIRELESS CORPORATION SHALL HAVE
RECEIVED AN OPINION OF ITS COUNSEL THAT REGISTRATION OF SUCH SECURITIES UNDER
THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS
IS NOT REQUIRED.

                              WARRANT TO PURCHASE

                            SHARES OF COMMON STOCK

                                      OF

                         Speedcom Wireless Corporation

                             Expires June 11, 2006

No.: W-4                                                Number of Shares: 73,333
Date of Issuance: June 11, 2001

     FOR VALUE RECEIVED, subject to the provisions hereinafter set forth, the
undersigned, Speedcom Wireless Corporation, a Delaware corporation (together
with its successors and assigns, the "Issuer"), hereby certifies that Bruce
                                      ------
Sanguinetti or his registered assigns is entitled to subscribe for and purchase,
during the period specified in this Warrant, up to Seventy Three Thousand Three
Hundred Thirty Three (73,333) shares (subject to adjustment as hereinafter
provided) of the duly authorized, validly issued, fully paid and non-assessable
Common Stock of the Issuer, at an exercise price per share equal to the Warrant
Price then in effect, subject, however, to the provisions and upon the terms and
conditions hereinafter set forth. Capitalized terms used in this Warrant and not
otherwise defined herein shall have the respective meanings specified in Section
9 hereof.

     1.  Term.  The right to subscribe for and purchase shares of Warrant Stock
         ----
represented hereby shall commence on the date of issuance of this Warrant and
shall expire at 5:00 p.m., eastern time, on June 11, 2006 (such period being the
"Term").
 ----

     2.  Method of Exercise Payment; Issuance of New Warrant; Transfer and
         -----------------------------------------------------------------
         Exchange.
         --------

     (a) Time of Exercise. The purchase rights represented by this Warrant may
         ----------------
be exercised in whole or in part at any time and from time to time during the
Term.

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     (b) Method of Exercise. The Holder hereof may exercise this Warrant, in
         ------------------
whole or in part, by the surrender of this Warrant (with the exercise form
attached hereto duly executed) at the principal office of the Issuer, and by the
payment to the Issuer of an amount of consideration therefor equal to the
Warrant Price in effect on the date of such exercise multiplied by the number of
shares of Warrant Stock with respect to which this Warrant is then being
exercised, payable at such Holder's election (i) by certified or official bank
check or by wire transfer to an account designated by the Issuer, (ii)
commencing on the first anniversary of the date of issuance, by "cashless
exercise" by surrender to the Issuer for cancellation of a portion of this
Warrant representing that number of unissued shares of Warrant Stock which is
equal to the quotient obtained by dividing (A) the product obtained by
multiplying the Warrant Price by the number of shares of Warrant Stock being
purchased upon such exercise by (B) the Per Share Market Value as of the date of
such exercise, or (iii) commencing on the first anniversary of the date of
issuance, by a combination of the foregoing methods of payment selected by the
Holder of this Warrant. In any case where the consideration payable upon such
exercise is being paid in whole or in part pursuant to the provisions of clause
(ii) of this subsection (b), such exercise shall be accompanied by written
notice from the Holder of this Warrant specifying the manner of payment thereof
and containing a calculation showing the number of shares of Warrant Stock with
respect to which rights are being surrendered thereunder and the net number of
shares to be issued after giving effect to such surrender.

     (c) Issuance of Stock Certificates. In the event of any exercise of the
         ------------------------------
rights represented by this Warrant in accordance with and subject to the terms
and conditions hereof, (i) certificates for the shares of Warrant Stock so
purchased shall be dated the date of such exercise and delivered to the Holder
hereof within a reasonable time, not exceeding three (3) Trading Days after such
exercise, and the Holder hereof shall be deemed for all purposes to be the
Holder of the shares of Warrant Stock so purchased as of the date of such
exercise, and (ii) unless this Warrant has expired, a new Warrant representing
the number of shares of Warrant Stock, if any, with respect to which this
Warrant shall not then have been exercised (less any amount thereof which shall
have been canceled in payment or partial payment of the Warrant Price as
hereinabove provided) shall also be issued to the Holder hereof at the Issuer's
expense within such time.

     (d) Transferability of Warrant. Subject to Section 2(e), this Warrant may
         --------------------------
be transferred by a Holder without the consent of the Issuer. If transferred
pursuant to this paragraph and subject to the provisions of subsection (e) of
this Section 2, this Warrant may be transferred on the books of the Issuer by
the Holder hereof in person or by duly authorized attorney, upon surrender of
this Warrant at the principal office of the Issuer, properly endorsed (by the
Holder executing an assignment in the form attached hereto) and upon payment of
any necessary transfer tax or other governmental charge imposed upon such
transfer. This Warrant is exchangeable at the principal office of the Issuer for
Warrants for the purchase of the same aggregate number of shares of Warrant
Stock, each new Warrant to represent the right to purchase such number of shares
of Warrant Stock as the Holder hereof shall designate at the time of such
exchange. All Warrants issued on transfers or exchanges shall be dated the
Original Issue Date and shall be identical with this Warrant except as to the
number of shares of Warrant Stock issuable pursuant hereto.

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     (e) Compliance with Securities Laws.
         --------------------------------

         (i)    The Holder of this Warrant, by acceptance hereof, acknowledges
     that this Warrant or the shares of Warrant Stock to be issued upon exercise
     hereof are being acquired solely for the Holder's own account and not as a
     nominee for any other party, and for investment, and that the Holder will
     not offer, sell or otherwise dispose of this Warrant or any shares of
     Warrant Stock to be issued upon exercise hereof except pursuant to an
     effective registration statement, or an exemption from registration, under
     the Securities Act and any applicable state securities laws.

         (ii)   Except as provided in paragraph (iii) below, this Warrant and
     all certificates representing shares of Warrant Stock issued upon exercise
     hereof shall be stamped or imprinted with a legend in substantially the
     following form:

         THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE
         HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
         AMENDED (THE "SECURITIES ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT
         BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER
         THE SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR
         SPEEDCOM WIRELESS CORPORATION SHALL HAVE RECEIVED AN OPINION OF ITS
         COUNSEL THAT REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES ACT
         AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS IS NOT
         REQUIRED.

         (iii)  The restrictions imposed by this subsection (e) upon the
     transfer of this Warrant or the shares of Warrant Stock to be purchased
     upon exercise hereof shall terminate (A) when such securities shall have
     been resold pursuant to an effective registration statement under the
     Securities Act, (B) upon the Issuer's receipt of an opinion of counsel, in
     form and substance reasonably satisfactory to the Issuer, addressed to the
     Issuer to the effect that such restrictions are no longer required to
     ensure compliance with the Securities Act and state securities laws or (C)
     upon the Issuer's receipt of other evidence reasonably satisfactory to the
     Issuer that such registration and qualification under the Securities Act
     and state securities laws are not required. Whenever such restrictions
     shall cease and terminate as to any such securities, the Holder thereof
     shall be entitled to receive from the Issuer (or its transfer agent and
     registrar), without expense (other than applicable transfer taxes, if any),
     new Warrants (or, in the case of shares of Warrant Stock, new stock
     certificates) of like tenor not bearing the applicable legend required by
     paragraph (ii) above relating to the Securities Act and state securities
     laws.

     (f) Continuing Rights of Holder.  The Issuer will, at the time of or at any
         ---------------------------
time after each exercise of this Warrant, upon the request of the Holder hereof,
acknowledge in writing the

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extent, if any, of its continuing obligation to afford to such Holder all rights
to which such Holder shall continue to be entitled after such exercise in
accordance with the terms of this Warrant, provided that if any such Holder
                                           --------
shall fail to make any such request, the failure shall not affect the continuing
obligation of the Issuer to afford such rights to such Holder.

     3.  Stock Fully Paid; Reservation and Listing of Shares; Covenants.
         ---------------------------------------------------------------

     (a) Stock Fully Paid.  The Issuer represents, warrants, covenants and
         ----------------
agrees that all shares of Warrant Stock which may be issued upon the exercise of
this Warrant or otherwise hereunder will, upon issuance, be duly authorized,
validly issued, fully paid and non-assessable and free from all taxes, liens and
charges created by or through Issuer. The Issuer further covenants and agrees
that during the period within which this Warrant may be exercised, the Issuer
will at all times have authorized and reserved for the purpose of the issue upon
exercise of this Warrant a sufficient number of shares of Common Stock to
provide for the exercise of this Warrant.

     (b) Reservation. If any shares of Common Stock required to be reserved for
         -----------
issuance upon exercise of this Warrant or as otherwise provided hereunder
require registration or qualification with any governmental authority under any
federal or state law before such shares may be so issued, the Issuer will in
good faith use its best efforts as expeditiously as possible at its expense to
cause such shares to be duly registered or qualified. If the Issuer shall list
any shares of Common Stock on any securities exchange or market it will, at its
expense, list thereon, maintain and increase when necessary such listing, of,
all shares of Warrant Stock from time to time issued upon exercise of this
Warrant or as otherwise provided hereunder, and, to the extent permissible under
the applicable securities exchange rules, all unissued shares of Warrant Stock
which are at any time issuable hereunder, so long as any shares of Common Stock
shall be so listed. The Issuer will also so list on each securities exchange or
market, and will maintain such listing of, any other securities which the Holder
of this Warrant shall be entitled to receive upon the exercise of this Warrant
if at the time any securities of the same class shall be listed on such
securities exchange or market by the Issuer.

     (c) Covenants. The Issuer shall not by any action including, without
         ---------
limitation, amending the Certificate of Incorporation or the by-laws of the
Issuer, or through any reorganization, transfer of assets, consolidation,
merger, dissolution, issue or sale of securities or any other action, avoid or
seek to avoid the observance or performance of any of the terms of this Warrant,
but will at all times in good faith assist in the carrying out of all such terms
and in the taking of all such actions as may be necessary or appropriate to
protect the rights of the Holder hereof against dilution (to the extent
specifically provided herein) or impairment. Without limiting the generality of
the foregoing, the Issuer will (i) not permit the par value, if any, of its
Common Stock to exceed the then effective Warrant Price, (ii) not amend or
modify any provision of the Certificate of Incorporation or by-laws of the
Issuer in any manner that would adversely affect in any way the powers,
preferences or relative participating, optional or other special rights of the
Common Stock or which would adversely affect the rights of the Holders of the
Warrants, (iii) take all such action as may be reasonably necessary in order
that the Issuer may validly and legally issue fully paid and nonassessable
shares of Common Stock, free and clear of any liens, claims, encumbrances and
restrictions (other than as provided herein) upon the

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exercise of this Warrant, and (iv) use its best efforts to obtain all such
authorizations, exemptions or consents from any public regulatory body having
jurisdiction thereof as may be reasonably necessary to enable the Issuer to
perform its obligations under this Warrant.

     (d) Loss, Theft, Destruction of Warrants.  Upon receipt of evidence
         ------------------------------------
satisfactory to the Issuer of the ownership of and the loss, theft, destruction
or mutilation of any Warrant and, in the case of any such loss, theft or
destruction, upon receipt of indemnity or security satisfactory to the Issuer
or, in the case of any such mutilation, upon surrender and cancellation of such
Warrant, the Issuer will make and deliver, in lieu of such lost, stolen,
destroyed or mutilated Warrant, a new Warrant of like tenor and representing the
right to purchase the same number of shares of Common Stock.

     (e) Registration Rights. The Warrrant Stock of the Issuer shall carry
         -------------------
standard piggy-back registration rights on any registration statement filed by
the Issuer under the Securities Act of 1933, as amended.

     4.  Adjustment of Warrant Price and Warrant Share Number.  The number of
         ----------------------------------------------------
shares of Common Stock for which this Warrant is exercisable, and the price at
which such shares may be purchased upon exercise of this Warrant, shall be
subject to adjustment from time to time as set forth in this Section 4. The
Issuer shall give the Holder notice of any event described below which requires
an adjustment pursuant to this Section 4 in accordance with Section 5.

     (a) Recapitalization, Reorganization, Reclassification, Consolidation,
         ------------------------------------------------------------------
         Merger or Sale.
         --------------

         (i)    In case the Issuer after the Original Issue Date shall do any of
     the following (each, a "Triggering Event"): (a) consolidate with or merge
                             ----------------
     into any other Person and the Issuer shall not be the continuing or
     surviving corporation of such consolidation or merger, or (b) permit any
     other Person to consolidate with or merge into the Issuer and the Issuer
     shall be the continuing or surviving Person but, in connection with such
     consolidation or merger, any Capital Stock of the Issuer shall be changed
     into or exchanged for Securities of any other Person or cash or any other
     property, or (c) transfer all or substantially all of its properties or
     assets to any other Person, or (d) effect a capital reorganization or
     reclassification of its Capital Stock, then, and in the case of each such
     Triggering Event, proper provision shall be made so that, upon the basis
     and the terms and in the manner provided in this Warrant, the Holder of
     this Warrant shall be entitled (x) upon the exercise hereof at any time
     after the consummation of such Triggering Event, to the extent this Warrant
     is not exercised prior to such Triggering Event, to receive at the Warrant
     Price in effect at the time immediately prior to the consummation of such
     Triggering Event in lieu of the Common Stock issuable upon such exercise of
     this Warrant prior to such Triggering Event, the Securities, cash and
     property to which such Holder would have been entitled upon the
     consummation of such Triggering Event if such Holder had exercised the
     rights represented by this Warrant immediately prior thereto, subject to
     adjustments (subsequent to such corporate action) as nearly equivalent as
     possible to the adjustments provided for elsewhere in this Section 4 or (y)
     to sell this Warrant (or, at such Holder's election, a portion hereof)
     concurrently with the Triggering Event to the Person continuing after or
     surviving such Triggering Event, or to the Issuer

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     (if Issuer is the continuing or surviving Person) at a sales price equal to
     the amount of cash, property and/or Securities to which a holder of the
     number of shares of Common Stock which would otherwise have been delivered
     upon the exercise of this Warrant would have been entitled upon the
     effective date or closing of any such Triggering Event (the "Event
                                                                  -----
     Consideration"), less the amount or portion of such Event Consideration
     -------------
     having a fair value equal to the aggregate Warrant Price applicable to this
     Warrant or the portion hereof so sold.

         (ii)   Notwithstanding anything contained in this Warrant to the
     contrary, the Issuer will not effect any Triggering Event unless, prior to
     the consummation thereof, each Person (other than the Issuer) which may be
     required to deliver any Securities, cash or property upon the exercise of
     this Warrant as provided herein shall assume, by written instrument
     delivered to, and reasonably satisfactory to, the Holder of this Warrant,
     (A) the obligations of the Issuer under this Warrant (and if the Issuer
     shall survive the consummation of such Triggering Event, such assumption
     shall be in addition to, and shall not release the Issuer from, any
     continuing obligations of the Issuer under this Warrant) and (B) the
     obligation to deliver to such Holder such shares of Securities, cash or
     property as, in accordance with the foregoing provisions of this subsection
     (a), such Holder shall be entitled to receive, and such Person shall have
     similarly delivered to such Holder an opinion of counsel for such Person,
     which counsel shall be reasonably satisfactory to such Holder, stating that
     this Warrant shall thereafter continue in full force and effect and the
     terms hereof (including, without limitation, all of the provisions of this
     subsection (a)) shall be applicable to the Securities, cash or property
     which such Person may be required to deliver upon any exercise of this
     Warrant or the exercise of any rights pursuant hereto.

         (iii)  If with respect to any Triggering Event, the Holder of this
     Warrant has exercised its right as provided in clause (y) of subparagraph
     (i) of this subsection (a) to sell this Warrant or a portion thereof, the
     Issuer agrees that as a condition to the consummation of any such
     Triggering Event the Issuer shall secure such right of Holder to sell this
     Warrant to the Person continuing after or surviving such Triggering Event
     and the Issuer shall not effect any such Triggering Event unless upon or
     prior to the consummation thereof the amounts of cash, property and/or
     Securities required under such clause (y) are delivered to the Holder of
     this Warrant. The obligation of the Issuer to secure such right of the
     Holder to sell this Warrant shall be subject to such Holder's cooperation
     with the Issuer, including, without limitation, the giving of customary
     representations and warranties to the purchaser in connection with any such
     sale. Prior notice of any Triggering Event shall be given to the Holder of
     this Warrant in accordance with Section 13 hereof.

     (b) Stock Dividends, Subdivisions and Combinations. If at any time the
         ----------------------------------------------
         Issuer shall:

                (i)   take a record of the holders of its Common Stock for the
     purpose of entitling them to receive a dividend payable in, or other
     distribution of, Additional Shares of Common Stock,

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                (ii)  subdivide its outstanding shares of Common Stock into a
     larger number of shares of Common Stock, or

                (iii) combine its outstanding shares of Common Stock into a
     smaller number of shares of Common Stock,

then (1) the number of shares of Common Stock for which this Warrant is
exercisable immediately after the occurrence of any such event shall be adjusted
to equal the number of shares of Common Stock which a record holder of the same
number of shares of Common Stock for which this Warrant is exercisable
immediately prior to the occurrence of such event would own or be entitled to
receive after the happening of such event, and (2) the Warrant Price then in
effect shall be adjusted to equal (A) the Warrant Price then in effect
multiplied by the number of shares of Common Stock for which this Warrant is
exercisable immediately prior to the adjustment divided by (B) the number of
shares of Common Stock for which this Warrant is exercisable immediately after
such adjustment.

     (c) Certain Other Distributions.  If at any time the Issuer shall take a
         ---------------------------
record of the holders of its Common Stock for the purpose of entitling them to
receive any dividend or other distribution of:

                (i)   cash (other than a cash dividend payable out of earnings
     or earned surplus legally available for the payment of dividends under the
     laws of the jurisdiction of incorporation of the Issuer),

                (ii)  any evidences of its indebtedness, any shares of stock of
     any class or any other securities or property of any nature whatsoever
     (other than cash, Common Stock Equivalents or Additional Shares of Common
     Stock), or

                (iii) any warrants or other rights to subscribe for or purchase
     any evidences of its indebtedness, any shares of stock of any class or any
     other securities or property of any nature whatsoever (other than cash,
     Common Stock Equivalents or Additional Shares of Common Stock),

then (1) the number of shares of Common Stock for which this Warrant is
exercisable shall be adjusted to equal the product of the number of shares of
Common Stock for which this Warrant is exercisable immediately prior to such
adjustment multiplied by a fraction (A) the numerator of which shall be the Per
Share Market Value of Common Stock at the date of taking such record and (B) the
denominator of which shall be such Per Share Market Value minus the amount
allocable to one share of Common Stock of any such cash so distributable and of
the fair value (as determined in good faith by the Board of Directors of the
Issuer and supported by an opinion from an investment banking firm of recognized
national standing acceptable to the Holder) of any and all such evidences of
indebtedness, shares of stock, other securities or property or warrants or other
subscription or purchase rights so distributable, and (2) the Warrant Price then
in effect shall be adjusted to equal (A) the Warrant Price then in effect
multiplied by the number of shares of Common Stock for which this Warrant is
exercisable immediately prior to the adjustment divided by (B) the number of
shares of Common Stock for which this Warrant is

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exercisable immediately after such adjustment. A reclassification of the Common
Stock (other than a change in par value, or from par value to no par value or
from no par value to par value) into shares of Common Stock and shares of any
other class of stock shall be deemed a distribution by the Issuer to the holders
of its Common Stock of such shares of such other class of stock within the
meaning of this Section 4(c) and, if the outstanding shares of Common Stock
shall be changed into a larger or smaller number of shares of Common Stock as a
part of such reclassification, such change shall be deemed a subdivision or
combination, as the case may be, of the outstanding shares of Common Stock
within the meaning of Section 4(b).

     (d) Issuance of Additional Shares of Common Stock.
         ---------------------------------------------

         (i)    In the event the Issuer, shall, at any time, from time to time,
issue or sell any shares of Common Stock (including Treasury Shares) for a
consideration per share less than the Warrant Price then in effect for the
Warrant immediately prior to the time of such issue or sale, then, forthwith
upon such issue or sale, the Warrant Price then in effect for the Warrants shall
be reduced to a price equal to the consideration per share paid for such Common
Stock and the number of shares of Common Stock for which this Warrant is
exercisable shall be increased by the product of the number of shares of Common
Stock for which this Warrant is exercisable immediately prior to such issuance
or sale multiplied by the Dilution Percentage. "Dilution Percentage" shall mean
the percentage by which the Warrant Price then in effect is reduced pursuant to
this Section 4(d).

         (ii)   If at any time the Issuer shall at any time issue or sell any
Additional Shares of Common Stock in exchange for consideration in an amount per
Additional Share of Common Stock less than the Per Share Market Value at the
time the Additional Shares of Common Stock are issued or sold, then, forthwith
upon such issue or sale, the Warrant Price then in effect for the Warrants shall
be reduced by the product of the Warrant Price then in effect multiplied by the
Market Dilution Percentage and the number of shares of Common Stock for which
this Warrant is exercisable shall be increased by the product of the number of
shares of Common Stock for which this Warrant is exercisable immediately prior
to such issuance or sale multiplied by the Market Dilution Percentage. "Market
Dilution Percentage" shall mean the percentage by which such issuance or sale is
below the lesser of the Per Share Market Value or the per share market value of
the Common Stock as calculated pursuant to the terms of any other financings of
the Company.

         (iii)  If at any time the Issuer shall issue or sell any Additional
Shares of Common Stock in exchange for consideration in an amount per Additional
Share of Common Stock which is less than the Warrant Price or the Per Share
Market Value at the time the Additional Shares of Common Stock are issued or
sold, the adjustment required under Section 4(d) shall be made in accordance
with the formula in paragraph (i) or (ii) above which results in the lower
Warrant Price following such adjustment. The provisions of paragraphs (i) and
(ii) of Section 4(d) shall not apply to any issuance of Additional Shares of
Common Stock for which an adjustment is provided under Section 4(b) or 4(c). No
adjustment of the number of shares of Common Stock for which this Warrant shall
be exercisable shall be made under paragraph (i) or (ii) of Section 4(d) upon
the issuance of any Additional Shares of Common Stock which are issued pursuant
to the exercise of any warrants or other subscription or purchase rights or

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<PAGE>

pursuant to the exercise of any conversion or exchange rights in any Common
Stock Equivalents, if any such adjustment shall previously have been made upon
the issuance of such warrants or other rights or upon the issuance of such
Common Stock Equivalents (or upon the issuance of any warrant or other rights
therefor) pursuant to Section 4(e) or Section 4(f).

     (e) Issuance of Warrants or Other Rights. If at any time the Issuer shall
         ------------------------------------
take a record of the Holders of its Common Stock for the purpose of entitling
them to receive a distribution of, or shall in any manner (whether directly or
by assumption in a merger in which the Issuer is the surviving corporation)
issue or sell, any Common Stock Equivalents (or issue any warrant or other
rights therefor), whether or not the rights to exchange or convert thereunder
are immediately exercisable, and the price per share for which Common Stock is
issuable upon the exercise of such Common Stock Equivalents (or any warrant or
other rights therefor) shall be less than the Warrant Price in effect
immediately prior to the time of such issue or sale, then the number of shares
for which this Warrant is exercisable and the Warrant Price then in effect shall
be adjusted as provided in Section 4(d) on the basis that the maximum number of
Additional Shares of Common Stock issuable pursuant to all such Common Stock
Equivalents (or upon the issuance of any warrant or other rights therefor) shall
be deemed to have been issued and outstanding and the Issuer shall have received
all of the consideration payable therefor, if any, as of the date of the actual
issuance of such warrants or other rights. No adjustments of the Warrant Price
then in effect or the number of Warrant Shares for which this Warrant is
exercisable shall be made upon the actual issue of such Common Stock or of such
Common Stock Equivalents upon exercise of such warrants or other rights or upon
the actual issue of such Common Stock upon such conversion or exchange of such
Common Stock Equivalents.

     (f) Issuance of Common Stock Equivalents. If at any time the Issuer shall
         ------------------------------------
take a record of the Holders of its Common Stock for the purpose of entitling
them to receive a distribution of, or shall in any manner (whether directly or
by assumption in a merger in which the Issuer is the surviving corporation)
issue or sell, any Common Stock Equivalents, whether or not the rights to
exchange or convert thereunder are immediately exercisable, and the price per
share for which Common Stock is issuable upon such conversion or exchange shall
be less than the Warrant Price in effect immediately prior to the time of such
issue or sale, then the number of shares of Common Stock for which this Warrant
is exercisable and the Warrant Price then in effect shall be adjusted as
provided in Section 4(d) on the basis that the maximum number of Additional
Shares of Common Stock necessary to effect the conversion or exchange of all
such Common Stock Equivalents shall be deemed to have been issued and
outstanding and the Issuer shall have received all of the consideration payable
therefor, if any, as of the date of actual issuance of such Common Stock
Equivalents. No further adjustment of the number of shares of Common Stock for
which this Warrant is exercisable and the Warrant Price then in effect shall be
made under this Section 4(f) upon the issuance of any Common Stock Equivalents
which are issued pursuant to the exercise of any warrants or other subscription
or purchase rights therefor, if any such adjustment shall previously have been
made upon the issuance of such warrants or other rights pursuant to Section
4(e). No further adjustments of the number of shares of Common Stock for which
this Warrant is exercisable and the Warrant Price then in effect shall be made
upon the actual issue of such Common Stock upon conversion or exchange of such
Common Stock Equivalents.

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<PAGE>

     (g) Superseding Adjustment. If, at any time after any adjustment of the
         ----------------------
number of shares of Common Stock for which this Warrant is exercisable and the
Warrant Price then in effect shall have been made pursuant to Section 4(e) or
Section 4(f) as the result of any issuance of warrants, other rights or Common
Stock Equivalents, and (i) such warrants or other rights, or the right of
conversion or exchange in such other Common Stock Equivalents, shall expire, and
all or a portion of such warrants or other rights, or the right of conversion or
exchange with respect to all or a portion of such other Common Stock
Equivalents, as the case may be shall not have been exercised, or (ii) the
consideration per share for which shares of Common Stock are issuable pursuant
to such Common Stock Equivalents, shall be increased solely by virtue of
provisions therein contained for an automatic increase in such consideration per
share upon the occurrence of a specified date or event, then for each
outstanding Warrant such previous adjustment shall be rescinded and annulled and
the Additional Shares of Common Stock which were deemed to have been issued by
virtue of the computation made in connection with the adjustment so rescinded
and annulled shall no longer be deemed to have been issued by virtue of such
computation. Upon the occurrence of an event set forth in this Section 4(g)
above, there shall be a recomputation made of the effect of such Common Stock
Equivalents on the basis of: (i) treating the number of Additional Shares of
Common Stock or other property, if any, theretofore actually issued or issuable
pursuant to the previous exercise of any such warrants or other rights or any
such right of conversion or exchange, as having been issued on the date or dates
of any such exercise and for the consideration actually received and receivable
therefor, and (ii) treating any such Common Stock Equivalents which then remain
outstanding as having been granted or issued immediately after the time of such
increase of the consideration per share for which shares of Common Stock or
other property are issuable under such Common Stock Equivalents; whereupon a new
adjustment of the number of shares of Common Stock for which this Warrant is
exercisable and the Warrant Price then in effect shall be made, which new
adjustment shall supersede the previous adjustment so rescinded and annulled.

     (h) Purchase of Common Stock by the Issuer. If the Issuer at any time
         --------------------------------------
while this Warrant is outstanding shall, directly or indirectly through a
Subsidiary or otherwise, purchase, redeem or otherwise acquire any shares of
Common Stock at a price per share greater than the Per Share Market Value, then
the Warrant Price upon each such purchase, redemption or acquisition shall be
adjusted to that price determined by multiplying such Warrant Price by a
fraction (i) the numerator of which shall be the number of shares of Common
Stock outstanding immediately prior to such purchase, redemption or acquisition
minus the number of shares of Common Stock which the aggregate consideration for
the total number of such shares of Common Stock so purchased, redeemed or
acquired would purchase at the Per Share Market Value; and (ii) the denominator
of which shall be the number of shares of Common Stock outstanding immediately
after such purchase, redemption or acquisition. For the purposes of this
subsection (h), the date as of which the Per Share Market Price shall be
computed shall be the earlier of (x) the date on which the Issuer shall enter
into a firm contract for the purchase, redemption or acquisition of such Common
Stock, or (y) the date of actual purchase, redemption or acquisition of such
Common Stock. For the purposes of this subsection (h), a purchase, redemption or
acquisition of a Common Stock Equivalent shall be deemed to be a purchase of the
underlying Common Stock, and the computation herein required shall be made on
the basis of the full exercise, conversion or exchange of such Common Stock
Equivalent on the date as of

                                      -10-
<PAGE>

which such computation is required hereby to be made, whether or not such Common
Stock Equivalent is actually exercisable, convertible or exchangeable on such
date.

     (i) Other Provisions applicable to Adjustments under this Section. The
         -------------------------------------------------------------
following provisions shall be applicable to the making of adjustments of the
number of shares of Common Stock for which this Warrant is exercisable and the
Warrant Price then in effect provided for in this Section 4:

         (i)    Computation of Consideration. To the extent that any Additional
                ----------------------------
Shares of Common Stock or any Common Stock Equivalents (or any warrants or other
rights therefor) shall be issued for cash consideration, the consideration
received by the Issuer therefor shall be the amount of the cash received by the
Issuer therefor, or, if such Additional Shares of Common Stock or Common Stock
Equivalents are offered by the Issuer for subscription, the subscription price,
or, if such Additional Shares of Common Stock or Common Stock Equivalents are
sold to underwriters or dealers for public offering without a subscription
offering, the initial public offering price (in any such case subtracting any
amounts paid or receivable for accrued interest or accrued dividends and without
taking into account any compensation, discounts or expenses paid or incurred by
the Issuer for and in the underwriting of, or otherwise in connection with, the
issuance thereof). To the extent that such issuance shall be for a consideration
other than cash, then, except as herein otherwise expressly provided, the amount
of such consideration shall be deemed to be the fair value of such consideration
at the time of such issuance as determined in good faith by the Board of
Directors of the Issuer. In case any Additional Shares of Common Stock or any
Common Stock Equivalents (or any warrants or other rights therefor) shall be
issued in connection with any merger in which the Issuer issues any securities,
the amount of consideration therefor shall be deemed to be the fair value, as
determined in good faith by the Board of Directors of the Issuer, of such
portion of the assets and business of the nonsurviving corporation as such Board
in good faith shall determine to be attributable to such Additional Shares of
Common Stock, Common Stock Equivalents, or any warrants or other rights
therefor, as the case may be. The consideration for any Additional Shares of
Common Stock issuable pursuant to any warrants or other rights to subscribe for
or purchase the same shall be the consideration received by the Issuer for
issuing such warrants or other rights plus the additional consideration payable
to the Issuer upon exercise of such warrants or other rights. The consideration
for any Additional Shares of Common Stock issuable pursuant to the terms of any
Common Stock Equivalents shall be the consideration received by the Issuer for
issuing warrants or other rights to subscribe for or purchase such Common Stock
Equivalents, plus the consideration paid or payable to the Issuer in respect of
the subscription for or purchase of such Common Stock Equivalents, plus the
additional consideration, if any, payable to the Issuer upon the exercise of the
right of conversion or exchange in such Common Stock Equivalents. In case of the
issuance at any time of any Additional Shares of Common Stock or Common Stock
Equivalents in payment or satisfaction of any dividends upon any class of stock
other than Common Stock, the Issuer shall be deemed to have received for such
Additional Shares of Common Stock or Common Stock Equivalents a consideration
equal to the amount of such dividend so paid or satisfied.

         (ii)   When Adjustments to Be Made. The adjustments required by this
                ---------------------------
Section 4 shall be made whenever and as often as any specified event requiring
an adjustment shall

                                      -11-
<PAGE>

occur, except that any adjustment of the number of shares of Common Stock for
which this Warrant is exercisable that would otherwise be required may be
postponed (except in the case of a subdivision or combination of shares of the
Common Stock, as provided for in Section 4(b)) up to, but not beyond the date of
exercise if such adjustment either by itself or with other adjustments not
previously made adds or subtracts less than one percent (1%) of the shares of
Common Stock for which this Warrant is exercisable immediately prior to the
making of such adjustment. Any adjustment representing a change of less than
such minimum amount (except as aforesaid) which is postponed shall be carried
forward and made as soon as such adjustment, together with other adjustments
required by this Section 4 and not previously made, would result in a minimum
adjustment or on the date of exercise. For the purpose of any adjustment, any
specified event shall be deemed to have occurred at the close of business on the
date of its occurrence.

         (iii)  Fractional Interests. In computing adjustments under this
                --------------------
Section 4, fractional interests in Common Stock shall be taken into account to
the nearest one one-hundredth (1/100/th/) of a share.

         (iv)   When Adjustment Not Required. If the Issuer shall take a record
                ----------------------------
of the holders of its Common Stock for the purpose of entitling them to receive
a dividend or distribution or subscription or purchase rights and shall,
thereafter and before the distribution to stockholders thereof, legally abandon
its plan to pay or deliver such dividend, distribution, subscription or purchase
rights, then thereafter no adjustment shall be required by reason of the taking
of such record and any such adjustment previously made in respect thereof shall
be rescinded and annulled. In addition, no adjustment shall be required under
Section 4(d)(i) hereof in the event the Issuer issues or sells Additional Shares
in a transaction whose primary purpose is to establish a relationship with the
recipient thereof for strategic reasons and not to raise capital.

     (j) Form of Warrant after Adjustments. The form of this Warrant need not
         ---------------------------------
be changed because of any adjustments in the Warrant Price or the number and
kind of Securities purchasable upon the exercise of this Warrant.

     (k) Escrow of Warrant Stock. If after any property becomes distributable
         -----------------------
pursuant to this Section 4 by reason of the taking of any record of the holders
of Common Stock, but prior to the occurrence of the event for which such record
is taken, and the Holder exercises this Warrant, any shares of Common Stock
issuable upon exercise by reason of such adjustment shall be deemed the last
shares of Common Stock for which this Warrant is exercised (notwithstanding any
other provision to the contrary herein) and such shares or other property shall
be held in escrow for the Holder by the Issuer to be issued to the Holder upon
and to the extent that the event actually takes place, upon payment of the
current Warrant Price. Notwithstanding any other provision to the contrary
herein, if the event for which such record was taken fails to occur or is
rescinded, then such escrowed shares shall be cancelled by the Issuer and
escrowed property returned.

     5.  Notice of Adjustments. Whenever the Warrant Price or Warrant Share
         ---------------------
Number shall be adjusted pursuant to Section 4 hereof (for purposes of this
Section 5, each an "adjustment"), the Issuer shall cause its Chief Financial
Officer to prepare and execute a

                                      -12-
<PAGE>

certificate setting forth, in reasonable detail, the event requiring the
adjustment, the amount of the adjustment, the method by which such adjustment
was calculated (including a description of the basis on which the Board made any
determination hereunder), and the Warrant Price and Warrant Share Number after
giving effect to such adjustment, and shall cause copies of such certificate to
be delivered to the Holder of this Warrant promptly after each adjustment. Any
dispute between the Issuer and the Holder of this Warrant with respect to the
matters set forth in such certificate may at the option of the Holder of this
Warrant be submitted to one of the national accounting firms currently known as
the "big five" selected by the Holder, provided that the Issuer shall have ten
                                       --------
(10) days after receipt of notice from such Holder of its selection of such firm
to object thereto, in which case such Holder shall select another such firm and
the Issuer shall have no such right of objection. The firm selected by the
Holder of this Warrant as provided in the preceding sentence shall be instructed
to deliver a written opinion as to such matters to the Issuer and such Holder
within thirty (30) days after submission to it of such dispute. Such opinion
shall be final and binding on the parties hereto. The fees and expenses of such
accounting firm shall be paid by the Issuer.

     6.  Fractional Shares. No fractional shares of Warrant Stock will be
         -----------------
issued in connection with and exercise hereof, but in lieu of such fractional
shares, the Issuer shall make a cash payment therefor equal in amount to the
product of the applicable fraction multiplied by the Per Share Market Value then
in effect.

     7.  Intentionally Omitted.
         ---------------------

     8.  Warrant Exercise Restriction. Notwithstanding anything to the contrary
         ----------------------------
set forth in this Warrant, at no time may a holder of this Warrant exercise this
Warrant, or a portion hereof, if the number of shares of Common Stock to be
issued pursuant to such exercise would exceed, when aggregated with all other
shares of Common Stock owned by such holder at such time, would result in such
holder owning more than 9.99% of all of the Common Stock issued and outstanding
at such time; provided, however, that upon a holder of this Warrant providing
              --------  -------
the Issuer with thirty (30) days notice (pursuant to Section 13 hereof) (the
"Waiver Notice") that such holder would like to waive Section 8 of this Warrant
 -------------
with regard to any or all shares of Common Stock issuable upon exercise of the
Warrant, this Section 8 will be of no force or effect with regard to the number
of shares exercisable pursuant to the Warrant, or the applicable portion
thereof, referenced in the Waiver Notice.

     9.  Definitions. For the purposes of this Warrant, the following terms have
         -----------
the following meanings:

         "Additional Shares of Common Stock" means all shares of Common Stock
         ---------------------------------
     issued by the Issuer after the Original Issue Date, and all shares of Other
     Common, if any, issued by the Issuer after the Original Issue Date, except
     the Warrant Stock.

         "Board" shall mean the Board of Directors of the Issuer.
          -----

         "Capital Stock" means and includes (i) any and all shares, interests,
          -------------
     participations or other equivalents of or interests in (however designated)
     corporate stock, including,

                                      -13-
<PAGE>

     without limitation, shares of preferred or preference stock, (ii) all
     partnership interests (whether general or limited) in any Person which is a
     partnership, (iii) all membership interests or limited liability company
     interests in any limited liability company, and (iv) all equity or
     ownership interests in any Person of any other type.

         "Certificate of Incorporation" means the Certificate of Incorporation
          ----------------------------
     of the Issuer as in effect on the Original Issue Date, and as hereafter
     from time to time amended, modified, supplemented or restated in accordance
     with the terms hereof and thereof and pursuant to applicable law.

         "Common Stock" means the Common Stock, par value $.001 per share, of
          ------------
     the Issuer and any other Capital Stock into which such stock may hereafter
     be changed.

         "Common Stock Equivalent" means any Convertible Security or warrant,
          -----------------------
     option or other right to subscribe for or purchase any Additional Shares of
     Common Stock or any Convertible Security.

         "Convertible Securities" means evidences of Indebtedness, shares of
          ----------------------
     Capital Stock or other Securities which are or may be at any time
     convertible into or exchangeable for Additional Shares of Common Stock. The
     term "Convertible Security" means one of the Convertible Securities.

         "Governmental Authority" means any governmental, regulatory or self-
          ----------------------
     regulatory entity, department, body, official, authority, commission,
     board, agency or instrumentality, whether federal, state or local, and
     whether domestic or foreign.

         "Holders" mean the Persons who shall from time to time own any Warrant.
          -------
     The term "Holder" means one of the Holders.

         "Independent Appraiser" means a nationally recognized or major regional
          ---------------------
     investment banking firm or firm of independent certified public accountants
     of recognized standing (which may be the firm that regularly examines the
     financial statements of the Issuer) that is regularly engaged in the
     business of appraising the Capital Stock or assets of corporations or other
     entities as going concerns, and which is not affiliated with either the
     Issuer or the Holder of any Warrant.

         "Issuer" means Speedcom Wireless Corporation, a Delaware corporation,
          ------
     and its successors.

         "Majority Holders" means at any time the Holders of Warrants
          ----------------
     exercisable for a majority of the shares of Warrant Stock issuable under
     the Warrants at the time outstanding.

         "Nasdaq" means the Nasdaq SmallCap Market.
          ------

         "Original Issue Date" means June 11, 2001.
          -------------------

                                      -14-
<PAGE>

         "OTC Bulletin Board" means the over-the-counter electronic bulletin
          ------------------
         board.

         "Other Common" means any other Capital Stock of the Issuer of any
          ------------
     class which shall be authorized at any time after the date of this Warrant
     (other than Common Stock) and which shall have the right to participate in
     the distribution of earnings and assets of the Issuer without limitation as
     to amount.

         "Person" means an individual, corporation, limited liability company,
          ------
     partnership, joint stock company, trust, unincorporated organization, joint
     venture, Governmental Authority or other entity of whatever nature.

         "Per Share Market Value" means on any particular date (a) the closing
          ----------------------
     bid price per share of the Common Stock on such date on Nasdaq or another
     registered national stock exchange on which the Common Stock is then
     listed, or if there is no such price on such date, then the closing bid
     price on such exchange or quotation system on the date nearest preceding
     such date, or (b) if the Common Stock is not listed then on Nasdaq or any
     registered national stock exchange, the closing bid price for a share of
     Common Stock in the over-the-counter market, as reported by the OTC
     Bulletin Board or in the National Quotation Bureau Incorporated or similar
     organization or agency succeeding to its functions of reporting prices) at
     the close of business on such date, or (c) if the Common Stock is not then
     reported by the OTC Bulletin Board or the National Quotation Bureau
     Incorporated (or similar organization or agency succeeding to its functions
     of reporting prices), then the average of the "Pink Sheet" quotes for the
     relevant conversion period, as determined in good faith by the holder, or
     (d) if the Common Stock is not then publicly traded the fair market value
     of a share of Common Stock as determined by an Independent Appraiser
     selected in good faith by the Majority Holders; provided, however, that the
                                                     --------  -------
     Issuer, after receipt of the determination by such Independent Appraiser,
     shall have the right to select an additional Independent Appraiser, in
     which case, the fair market value shall be equal to the average of the
     determinations by each such Independent Appraiser; and provided, further
                                                            --------  -------
     that all determinations of the Per Share Market Value shall be
     appropriately adjusted for any stock dividends, stock splits or other
     similar transactions during such period. The determination of fair market
     value by an Independent Appraiser shall be based upon the fair market value
     of the Issuer determined on a going concern basis as between a willing
     buyer and a willing seller and taking into account all relevant factors
     determinative of value, and shall be final and binding on all parties. In
     determining the fair market value of any shares of Common Stock, no
     consideration shall be given to any restrictions on transfer of the Common
     Stock imposed by agreement or by federal or state securities laws, or to
     the existence or absence of, or any limitations on, voting rights.

         "Purchase Agreement" means the Note and Warrant Purchase Agreement
          ------------------
     dated as of June 11, 2001 among the Issuer and the investors a party
     thereto.

         "Securities" means any debt or equity securities of the Issuer,
          ----------
     whether now or hereafter authorized, any instrument convertible into or
     exchangeable for Securities or a

                                      -15-
<PAGE>

     Security, and any option, warrant or other right to purchase or acquire any
     Security. "Security" means one of the Securities.

         "Securities Act" means the Securities Act of 1933, as amended, or any
          --------------
     similar federal statute then in effect.

         "Subsidiary" means any corporation at least 50% of whose outstanding
          ----------
     Voting Stock shall at the time be owned directly or indirectly by the
     Issuer or by one or more of its Subsidiaries, or by the Issuer and one or
     more of its Subsidiaries.

         "Term" has the meaning specified in Section 1 hereof.
          ----

         "Trading Day" means (a) a day on which the Common Stock is traded on
          -----------
     Nasdaq, or (b) if the Common Stock is not listed on Nasdaq, a day on which
     the Common Stock is traded on any other registered national stock exchange,
     or (c) if the Common Stock is not traded on any other registered national
     stock exchange, a day on which the Common Stock is traded on the OTC
     Bulletin Board, or (d) if the Common Stock is not traded on the OTC
     Bulletin Board, a day on which the Common Stock is quoted in the over-the-
     counter market as reported by the National Quotation Bureau Incorporated
     (or any similar organization or agency succeeding its functions of
     reporting prices); provided, however, that in the event that the Common
                        --------  -------
     Stock is not listed or quoted as set forth in (a), (b) and (c) hereof, then
     Trading Day shall mean any day except Saturday, Sunday and any day which
     shall be a legal holiday or a day on which banking institutions in the
     State of New York are authorized or required by law or other government
     action to close.

         "Voting Stock" means, as applied to the Capital Stock of any
          ------------
     corporation, Capital Stock of any class or classes (however designated)
     having ordinary voting power for the election of a majority of the members
     of the Board of Directors (or other governing body) of such corporation,
     other than Capital Stock having such power only by reason of the happening
     of a contingency.

         "Warrants" means the Warrants issued and sold pursuant to the Purchase
          --------
     Agreement, including, without limitation, this Warrant, and any other
     warrants of like tenor issued in substitution or exchange for any thereof
     pursuant to the provisions of Section 2(c), 2(d) or 2(e) hereof or of any
     of such other Warrants.

         "Warrant Price" means U.S. $3.25, as such price may be adjusted from
          -------------
     time to time as shall result from the adjustments specified in this
     Warrant, including Section 4 hereto.

         "Warrant Share Number" means at any time the aggregate number of shares
          --------------------
     of Warrant Stock which may at such time be purchased upon exercise of this
     Warrant, after giving effect to all prior adjustments and increases to such
     number made or required to be made under the terms hereof.

                                      -16-
<PAGE>

         "Warrant Stock" means Common Stock issuable upon exercise of any
          -------------
     Warrant or Warrants or otherwise issuable pursuant to any Warrant or
     Warrants.

     10. Other Notices.  In case at any time:
         -------------

                         (A)  the Issuer shall make any distributions to the
                              holders of Common Stock; or

                         (B)  the Issuer shall authorize the granting to all
                              holders of its Common Stock of rights to subscribe
                              for or purchase any shares of Capital Stock of any
                              class or of any Common Stock Equivalents or other
                              rights; or

                         (C)  there shall be any reclassification of the Capital
                              Stock of the Issuer; or

                         (D)  there shall be any capital reorganization by the
                              Issuer; or

                         (E)  there shall be any (i) consolidation or merger
                              involving the Issuer or (ii) sale, transfer or
                              other disposition of all or substantially all of
                              the Issuer's property, assets or business (except
                              a merger or other reorganization in which the
                              Issuer shall be the surviving corporation and its
                              shares of Capital Stock shall continue to be
                              outstanding and unchanged and except a
                              consolidation, merger, sale, transfer or other
                              disposition involving a wholly-owned Subsidiary);
                              or

                         (F)  there shall be a voluntary or involuntary
                              dissolution, liquidation or winding-up of the
                              Issuer or any partial liquidation of the Issuer or
                              distribution to holders of Common Stock;

then, in each of such cases, the Issuer shall give written notice to the Holder
of the date on which (i) the books of the Issuer shall close or a record shall
be taken for such dividend, distribution or subscription rights or (ii) such
reorganization, reclassification, consolidation, merger, disposition,
dissolution, liquidation or winding-up, as the case may be, shall take place.
Such notice also shall specify the date as of which the holders of Common Stock
of record shall participate in such dividend, distribution or subscription
rights, or shall be entitled to exchange their certificates for Common Stock for
securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, disposition, dissolution, liquidation
or winding-up, as the case may be. Such notice shall be given at least twenty
(20) days prior to the action in question and not less than twenty (20) days
prior to the record date or the date on which the Issuer's transfer books are
closed in respect thereto. The Issuer shall give to the Holder notice of all
meetings and actions by written consent of its stockholders, at the same time in
the same manner as notice of any meetings of stockholders is required to be
given to stockholders who do not waive such notice (or, if such requires no
notice, then two (2) Trading Days written

                                      -17-
<PAGE>

notice thereof describing the matters upon which action is to be taken). The
Holder shall have the right to send two (2) representatives selected by it to
each meeting, who shall be permitted to attend, but not vote at, such meeting
and any adjournments thereof. This Warrant entitles the Holder to receive copies
of all financial and other information distributed or required to be distributed
to the holders of the Common Stock.

     11.  Amendment and Waiver. Any term, covenant, agreement or condition in
          --------------------
this Warrant may be amended, or compliance therewith may be waived (either
generally or in a particular instance and either retroactively or
prospectively), by a written instrument or written instruments executed by the
Issuer and the Majority Holders; provided, however, that no such amendment or
                                 --------  -------
waiver shall reduce the Warrant Share Number, increase the Warrant Price,
shorten the period during which this Warrant may be exercised or modify any
provision of this Section 11 without the consent of the Holder of this Warrant.

     12.  Governing Law. THIS WARRANT SHALL BE GOVERNED BY AND CONSTRUED IN
          -------------
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO
PRINCIPLES OF CONFLICTS OF LAW.

     13.  Notices. Any and all notices or other communications or deliveries
          -------
required or permitted to be provided hereunder shall be in writing and shall be
deemed given and effective on the earlier of (i) the date of transmission, if
such notice or communication is delivered via facsimile at the facsimile
telephone number specified for notice prior to 5:00 p.m., eastern time, on a
Trading Day, (ii) the Trading Day after the date of transmission, if such notice
or communication is delivered via facsimile at the facsimile telephone number
specified for notice later than 5:00 p.m., eastern time, on any date and earlier
than 11:59 p.m., eastern time, on such date, (iii) the Trading Day following the
date of mailing, if sent by nationally recognized overnight courier service or
(iv) actual receipt by the party to whom such notice is required to be given.
The addresses for such communications shall be with respect to the Holder of
this Warrant or of Warrant Stock issued pursuant hereto, addressed to such
Holder at its last known address or facsimile number appearing on the books of
the Issuer maintained for such purposes, or with respect to the Issuer,
addressed to:

          Speedcom Wireless Corporation
          1748 Independence Boulevard, D-4
          Sarasota, Florida  34243
          Attention:  Jay Wright, Chief Financial Officer
          Telephone: (941) 358-9283
          Telecopier: (941) 358-6208

                                      -18-
<PAGE>

with copies (which copies shall not constitute notice to the Company) to:

          Foley & Lardner
          One IBM Plaza
          330 N. Wabash Avenue, Suite 3300
          Chicago, Illinois 60611-3608
          Attention:  Edwin D. Mason, Esq.
          Telephone: (312) 755-2532
          Telecopier: (312) 755-1925

Copies of notices to the Holder shall be sent to Jenkens & Gilchrist Parker
Chapin LLP, The Chrysler Building, 405 Lexington Avenue, New York, New York
10174, Attention: Christopher S. Auguste, Esq., facsimile no.: (212) 704-6288.
Any party hereto may from time to time change its address for notices by giving
at least ten (10) days written notice of such changed address to the other party
hereto.

     14.  Warrant Agent. The Issuer may, by written notice to each Holder of
          -------------
this Warrant, appoint an agent having an office in New York, New York for the
purpose of issuing shares of Warrant Stock on the exercise of this Warrant
pursuant to subsection (b) of Section 2 hereof, exchanging this Warrant pursuant
to subsection (d) of Section 2 hereof or replacing this Warrant pursuant to
subsection (d) of Section 3 hereof, or any of the foregoing, and thereafter any
such issuance, exchange or replacement, as the case may be, shall be made at
such office by such agent.

     15.  Remedies. The Issuer stipulates that the remedies at law of the
          --------
Holder of this Warrant in the event of any default or threatened default by the
Issuer in the performance of or compliance with any of the terms of this Warrant
are not and will not be adequate and that, to the fullest extent permitted by
law, such terms may be specifically enforced by a decree for the specific
performance of any agreement contained herein or by an injunction against a
violation of any of the terms hereof or otherwise.

     16.  Successors and Assigns. This Warrant and the rights evidenced hereby
          ----------------------
shall inure to the benefit of and be binding upon the successors and assigns of
the Issuer, the Holder hereof and (to the extent provided herein) the Holders of
Warrant Stock issued pursuant hereto, and shall be enforceable by any such
Holder or Holder of Warrant Stock.

     17.  Modification and Severability. If, in any action before any court or
          -----------------------------
agency legally empowered to enforce any provision contained herein, any
provision hereof is found to be unenforceable, then such provision shall be
deemed modified to the extent necessary to make it enforceable by such court or
agency. If any such provision is not enforceable as set forth in the preceding
sentence, the unenforceability of such provision shall not affect the other
provisions of this Warrant, but this Warrant shall be construed as if such
unenforceable provision had never been contained herein.

     18.  Headings. The headings of the Sections of this Warrant are for
          --------
convenience of reference only and shall not, for any purpose, be deemed a part
of this Warrant.

                                      -19-
<PAGE>

     IN WITNESS WHEREOF, the Issuer has executed this Warrant as of the day and
year first above written.

                              SPEEDCOM WIRELESS CORPORATION

                              By:__________________________________
                                  Name:
                                  Title:

                                      -20-
<PAGE>

                                 EXERCISE FORM

                         SPEEDCOM WIRELESS CORPORATION

The undersigned _______________, pursuant to the provisions of the within
Warrant, hereby elects to purchase _____ shares of Common Stock of Speedcom
Wireless Corporation covered by the within Warrant.

Dated: _________________      Signature  ___________________________

                              Address    _____________________
                                         _____________________

                                  ASSIGNMENT

FOR VALUE RECEIVED, _________________ hereby sells, assigns and transfers unto
__________________ the within Warrant and all rights evidenced thereby and does
irrevocably constitute and appoint _____________, attorney, to transfer the said
Warrant on the books of the within named corporation.

Dated: _________________      Signature  ___________________________

                              Address    _____________________
                                         _____________________

                              PARTIAL ASSIGNMENT

FOR VALUE RECEIVED, _________________ hereby sells, assigns and transfers unto
__________________ the right to purchase _________ shares of Warrant Stock
evidenced by the within Warrant together with all rights therein, and does
irrevocably constitute and appoint ___________________, attorney, to transfer
that part of the said Warrant on the books of the within named corporation.

Dated: _________________      Signature  ___________________________

                              Address    _____________________
                                         _____________________

                          FOR USE BY THE ISSUER ONLY:

This Warrant No. W-_____ canceled (or transferred or exchanged) this _____ day
of ___________, _____, shares of Common Stock issued therefor in the name of
_______________, Warrant No. W-_____ issued for ____ shares of Common Stock in
the name of _______________.

                                      -21-<PAGE>

                                                                     Exhibit 4.1

                             SOLA INTERNATIONAL INC.

                  (euro)205,000,000 11% Senior Notes due 2008

                               PURCHASE AGREEMENT

                                                                   April 9, 2001
                                                              New York, New York

UBS AG, acting through
its business group
UBS WARBURG
2 Finsbury Avenue
London EC2M 2PG

Ladies and Gentlemen:

     Sola International Inc., a Delaware corporation (the "Issuer"), agrees with
you as follows:

     1. Issuance of Notes. The Issuer proposes to issue and sell to UBS AG,
        -----------------
acting through its business group UBS Warburg (the "Initial Purchaser"),
(euro)205,000,000 aggregate principal amount of 11% Senior Notes due 2008 (the
"Original Notes"). The Original Notes will be issued pursuant to an indenture
(the "Indenture"), to be dated the Closing Date (as defined herein), by and
between the Issuer and The Bank of New York, trustee (the "Trustee").
Capitalized terms used but not otherwise defined herein shall have the meanings
given to such terms in the Indenture.

     The Original Notes will be offered and sold to the Initial Purchaser
pursuant to an exemption from the registration requirements under the Securities
Act of 1933, as amended (the "Act"). The Issuer has prepared a preliminary
offering memorandum, dated March 28, 2001 (the "Preliminary Offering
Memorandum"), and a final offering memorandum dated and available for
distribution on the date hereof (the "Offering Memorandum") relating to the
Issuer and the Original Notes.

     The Initial Purchaser has advised the Issuer that the Initial Purchaser
intends, as soon as it deems practicable after this Purchase Agreement (this
"Agreement") has been executed and delivered, to resell (the "Exempt Resales")
the Original Notes purchased by the Initial Purchaser under this Agreement in
private sales exempt from registration under the Act on the terms set forth in
the Offering Memorandum, as amended or supplemented, solely to (i) persons whom
the Initial Purchaser reasonably believes to be "qualified institutional
buyers," as defined in Rule 144A under the Act ("QIBs"), and (ii) other eligible
purchasers pursuant to offers and sales that occur outside the United
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                                      -2-

States within the meaning of Regulation S under the Act; the persons specified
in clauses (i) and (ii) are sometimes collectively referred to herein as the
"Eligible Purchasers."

     Upon issuance of the Original Notes and until such time as the same is no
longer required under the applicable requirements of the Act, the Original Notes
shall bear the legend relating thereto set forth under "Notice to Investors" in
the Offering Memorandum.

     Holders (including subsequent transferees) of the Original Notes will have
the registration rights set forth in the registration rights agreement (the
"Registration Rights Agreement") to be dated the Closing Date in form and
substance reasonably satisfactory to the Initial Purchaser and conforming to the
description thereof in the Offering Memorandum, for so long as such Original
Notes constitute "Registrable Notes" (as defined in the Registration Rights
Agreement). Pursuant to the Registration Rights Agreement, the Issuer will agree
to (i) file with the Securities and Exchange Commission (the "Commission") under
the circumstances set forth in the Registration Rights Agreement, (a) a
registration statement under the Act (the "Exchange Offer Registration
Statement") relating to a new issue of debt securities (collectively with the
Private Exchange Notes (as defined in the Registration Rights Agreement), the
"Exchange Notes" and, together with the Original Notes, the "Notes," which term
includes the guarantees, if any, related thereto) to be offered in exchange for
the Original Notes (the "Exchange Offer") and issued under the Indenture or an
indenture substantially identical to the Indenture and/or (b) under certain
circumstances set forth in the Registration Rights Agreement, a shelf
registration statement pursuant to Rule 415 under the Act (the "Shelf
Registration Statement" and, together with the Exchange Offer Registration
Statement, the "Registration Statements") relating to the resale by certain
holders of the Original Notes, and (ii) to use its reasonable best efforts to
cause such Registration Statements to be declared effective. This Agreement, the
Notes, the Indenture and the Registration Rights Agreement are hereinafter
sometimes referred to collectively as the "Note Documents."

     The Original Notes are being sold in connection with the repayment of the
Issuer's borrowings outstanding under its Multi-Currency Credit Facility (the
"Debt Refinancing") as described in the Offering Memorandum. In addition, the
Issuer shall have received and furnished copies to the Initial Purchaser of a
commitment letter to provide financing in the form of a $25.0 million revolving
credit facility to the Issuer (including the Summary of Terms and Conditions
annexed thereto, the "Commitment Letter") with UBS AG, Stamford Branch (the
"Bank") dated as of April 9, 2001.

     The offering of the Original Notes, the Debt Refinancing and the receipt of
the Commitment Letter on the Closing Date (as defined below) are collectively
referred to as the "Transaction."

     2. Agreements to Sell and Purchase. On the basis of the representations,
        -------------------------------
warranties and covenants contained in this Agreement, and subject to the terms
and conditions contained in this Agreement, the Issuer agrees to issue and sell
to the Initial Purchaser, and the Initial Purchaser agrees to purchase from the
Issuer, the entire aggregate principal amount of the Original Notes. The
purchase price for the Original Notes shall be 97.0% of their principal amount.
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                                      -3-

     3. Delivery and Payment. Delivery of, and payment of the purchase price
        --------------------
for, the Original Notes shall be made at 10:00 a.m., London time, on April 17,
2001 (such date and time, the "Closing Date") at the offices of Cahill Gordon &
Reindel at Augustine House, 6A Austin Friars, London, England EC2N 2HA. The
Closing Date and the location of delivery of and the form of payment for the
Original Notes may be varied by mutual agreement between the Initial Purchaser
and the Issuer.

     One or more of the Original Notes in global form registered in such names
as the Initial Purchaser may request upon at least one business day's notice
prior to the Closing Date and having an aggregate principal amount corresponding
to the aggregate principal amount of the Original Notes shall be delivered by
the Issuer to the Initial Purchaser (or as the Initial Purchaser directs),
against payment by the Initial Purchaser of the purchase price therefor by means
of transfer of immediately available funds to such account or accounts specified
by the Issuer in accordance with its obligations under Sections 4(g) and 8(l)
hereof on or prior to the Closing Date, or by such means as the parties hereto
shall agree prior to the Closing Date.

     4. Agreements of the Issuer. The Issuer covenants and agrees with the
        ------------------------
Initial Purchaser as follows:

          (a) To furnish the Initial Purchaser and those persons identified by
     the Initial Purchaser, without charge, with as many copies of the
     Preliminary Offering Memorandum and the Offering Memorandum, and any
     amendments or supplements thereto, as the Initial Purchaser may reasonably
     request prior to the Closing Date. The Issuer consents to the use of the
     Preliminary Offering Memorandum and the Offering Memorandum, and any
     amendments and supplements thereto required pursuant to this Agreement, by
     the Initial Purchaser in connection with Exempt Resales.

          (b) Not to amend or supplement the Offering Memorandum prior to the
     Closing Date unless the Initial Purchaser shall previously have been
     advised of, and shall not have reasonably objected to, such amendment or
     supplement within a reasonable time, but in any event not longer than two
     business days after being furnished with a copy of such amendment or
     supplement.

          (c) If, during the time that an Offering Memorandum is required to be
     delivered in connection with any Exempt Resales after the date of this
     Agreement and prior to the consummation of the Exchange Offer, any event
     shall occur that, in the judgment of the Issuer or in the judgment of
     counsel to the Initial Purchaser, makes any statement of a material fact in
     the Offering Memorandum, as then amended or supplemented, untrue or that
     requires the making of any additions to or changes in the Offering
     Memorandum in order to make the statements in the Offering Memorandum, as
     then amended or supplemented, in the light of the circumstances under which
     they are made, not misleading, or if it is necessary to amend or supplement
     the Offering Memorandum to comply with all applicable laws, the Issuer
     shall promptly notify the Initial Purchaser of such event and prepare an
     appropriate amendment or supplement to the Offering Memorandum so that (i)
     the statements in the Offering Memoran-
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                                      -4-

     dum, as amended or supplemented, will, in the light of the circumstances at
     the time that the Offering Memorandum is delivered to prospective Eligible
     Purchasers, not be misleading and (ii) the Offering Memorandum will comply
     with applicable law.

          (d) To cooperate with the Initial Purchaser and counsel to the Initial
     Purchaser in connection with the qualification or registration of the
     Original Notes under the securities laws of such jurisdictions as the
     Initial Purchaser may reasonably request and to continue such qualification
     in effect so long as required for the Exempt Resales. Notwithstanding the
     foregoing, the Issuer shall not be required to qualify as a foreign
     corporation in any jurisdiction in which it is not so qualified or to file
     a general consent to service of process in any such jurisdiction or subject
     itself to taxation in excess of a nominal dollar amount in any such
     jurisdiction where it is not then so subject.

          (e) To advise the Initial Purchaser promptly and, if requested by the
     Initial Purchaser, to confirm such advice in writing, of the issuance by
     any securities commission of any stop order suspending the qualification or
     exemption from qualification of any of the Original Notes for offering or
     sale in any jurisdiction, or the initiation of any proceeding for such
     purpose by any securities commission or other regulatory authority. The
     Issuer shall use its reasonable best efforts to prevent the issuance of any
     stop order or order suspending the qualification or exemption of any of the
     Original Notes under any securities laws, and if at any time any securities
     commission or other regulatory authority shall issue an order suspending
     the qualification or exemption of any of the Original Notes under any
     securities laws, the Issuer shall use its reasonable best efforts to obtain
     the withdrawal or lifting of such order at the earliest possible time.

          (f) Whether or not the transactions contemplated by this Agreement are
     consummated or this Agreement is terminated other than by reason of a
     default by the Initial Purchaser, to pay all costs, expenses, fees,
     disbursements (including fees, expenses and disbursements of counsel to the
     Issuer) reasonably incurred and stamp, documentary or similar taxes
     incident to and in connection with: (i) the preparation, printing and
     distribution in connection with Exempt Resales of the Preliminary Offering
     Memorandum and the Offering Memorandum (including, without limitation,
     financial statements) and all amendments and supplements thereto, (ii) all
     expenses (including travel expenses) of the Issuer and the Initial
     Purchaser in connection with any meetings with prospective investors in the
     Original Notes, (iii) the preparation, notarization (if necessary) and
     delivery of the Note Documents and all other agreements, memoranda,
     correspondence and documents prepared and delivered in connection with this
     Agreement and with the Exempt Resales, (iv) the issuance, transfer and
     delivery of the Original Notes by the Issuer to the Initial Purchaser, (v)
     the qualification or registration of the Notes for offer and sale under the
     securities laws of the several states of the United States or provinces of
     Canada (including, without limitation, the cost of printing and mailing
     preliminary and final Blue Sky or legal investment memoranda and fees and
     disbursements of counsel (including local counsel) to the Initial Purchaser
     relating thereto), (vi) the furnishing of such copies of the Preliminary
     Offering Memorandum and the Offering Memorandum, and all amendments and
     supplements thereto, as may be reasonably requested
<PAGE>

                                      -5-

     for use in connection with Exempt Resales, (vii) the preparation of
     certificates for the Notes, (viii) the application for listing on the
     Luxembourg Stock Exchange, including, but not limited to, all listing fees
     and expenses, (ix) the approval of the Notes by the Euroclear Bank
     S.A./N.V., as operator of the Euroclear System ("Euroclear") and
     Clearstream Banking, societe anonyme ("Clearstream") for "book-entry"
     transfer, (x) the rating of the Notes by rating agencies, (xi) the fees and
     expenses of the Trustee and its counsel and (xii) the performance by the
     Issuer of its other obligations under the Note Documents. In addition, if
     the transactions contemplated by this Agreement are not consummated or this
     Agreement is terminated other than by reason of a default by the Initial
     Purchaser, the Issuer shall pay the fees, expenses and disbursements of
     counsel to the Initial Purchaser.

          (g) To use the proceeds from the sale of the Original Notes in the
     manner described in the Offering Memorandum under the caption "Use of
     Proceeds."

          (h) To do and perform all things reasonably required to be done and
     performed under this Agreement by it prior to or after the Closing Date and
     to satisfy all conditions precedent on its part to the delivery of the
     Original Notes.

          (i) Not to, and not to permit any of its subsidiaries to, sell, offer
     for sale or solicit offers to buy any security (as defined in the Act) that
     would be integrated with the sale of the Original Notes in a manner that
     would require the registration under the Act of the sale of the Original
     Notes to the Initial Purchaser or any Eligible Purchasers.

          (j) Not to, and to use its reasonable best efforts to cause its
     affiliates (as defined in Rule 144 under the Act) not to, resell any of the
     Original Notes that have been reacquired by any of them.

          (k) Not to engage, not to allow any of its subsidiaries to engage, and
     to use its reasonable best efforts to cause its other affiliates and any
     person acting on their behalf (other than, in any case, the Initial
     Purchaser and any of its affiliates, as to whom the Issuer makes no
     covenant) not to engage, in any form of general solicitation or general
     advertising (within the meaning of Regulation D under the Act) in
     connection with any offer or sale of the Original Notes in the United
     States prior to the effectiveness of a registration statement with respect
     to the Notes.

          (l) Not to engage, not to allow any of its subsidiaries to engage, and
     to use its reasonable best efforts to cause its other affiliates and any
     person acting on its behalf (other than, in any case, the Initial Purchaser
     and any of its affiliates, as to whom the Issuer makes no covenant) not to
     engage, in any directed selling effort with respect to the Original Notes,
     and to comply with the offering restrictions requirement of Regulation S
     under the Act. Terms used in this paragraph have the meanings given to them
     by Regulation S.

          (m) From and after the Closing Date, for so long as any of the Notes
     remain outstanding and are "restricted securities" within the meaning of
     Rule 144(a)(3) under the Act and during any period in which the Issuer is
     not subject to Section 13 or 15(d) of the Securi-
<PAGE>

                                      -6-

     ties Exchange Act of 1934, as amended (the "Exchange Act"), to make
     available upon request the information required by Rule 144A(d)(4) under
     the Act to (i) any holder or beneficial owner of Notes in connection with
     any sale of such Notes and (ii) any prospective purchaser of such Notes
     from any such holder or beneficial owner designated by the holder or
     beneficial owner. The Issuer will pay the expenses of printing and
     distributing such documents.

          (n) To comply with all of its agreements set forth in the Registration
     Rights Agreement.

          (o) To comply with all of its obligations relating to the approval of
     the Notes by Euroclear and Clearstream for "book-entry" transfer and to use
     its best efforts to obtain approval of the Notes by Euroclear and
     Clearstream for "book-entry" transfer.

          (p) Prior to the Closing Date, to furnish without charge to the
     Initial Purchaser, (i) as soon as they have been prepared by the Issuer, a
     copy of any regularly prepared final internal financial statements of the
     Issuer and its subsidiaries for any period subsequent to the period covered
     by the financial statements appearing in the Offering Memorandum, (ii) all
     other reports and other communications (financial or otherwise) that the
     Issuer mails or otherwise makes available to security holders and (iii)
     such other information as the Initial Purchaser shall reasonably request.

          (q) Not to distribute prior to the Closing Date any offering material
     in connection with the offer and sale of the Original Notes other than the
     Preliminary Offering Memorandum and the Offering Memorandum.

          (r) During the period of two years after the Closing Date or, if
     earlier, until such time as the Original Notes are no longer restricted
     securities (as defined in Rule 144 under the Act), not to be or become a
     closed-end investment company required to be registered, but not
     registered, under the Investment Company Act of 1940.

          (s) In connection with the offering, until the Initial Purchaser shall
     have notified the Issuer of the completion of the resale of the Notes, not
     to permit any of its affiliates (as such term is defined in Rule 501(b) of
     Regulation D under the Act) to, either alone or with one or more other
     persons, bid for or purchase for any account in which they or any of its
     affiliates have a beneficial interest in any Notes; and neither the Issuer
     nor any of its affiliates will make bids or purchases for the purpose of
     creating actual or apparent, active trading in, or of raising the price of,
     the Notes.

          (t) To use its reasonable best efforts to cause the Notes to be listed
     on the Luxembourg Stock Exchange.

     5. Representations and Warranties. (a) The Issuer represents and warrants
        ------------------------------
to the Initial Purchaser that:
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                                      -7-

          (i) Each of the Preliminary Offering Memorandum and the Offering
     Memorandum has been prepared for use in connection with the Exempt Resales.
     Neither the Preliminary Offering Memorandum nor the Offering Memorandum as
     of its respective issue date, and on the Closing Date the Offering
     Memorandum will not contain any untrue statement of a material fact or
     omits to state any material fact necessary in order to make the statements
     therein, in the light of the circumstances under which they were made, not
     misleading; provided, however, that the Issuer makes no representation or
     warranty with respect to information contained in or omitted from the
     Preliminary Offering Memorandum or the Offering Memorandum, as supplemented
     or amended, in reliance upon and in conformity with the information
     furnished to the Issuer in writing by or on behalf of the Initial Purchaser
     relating to the Initial Purchaser expressly for inclusion in the
     Preliminary Offering Memorandum or the Offering Memorandum. No order
     preventing the use of the Preliminary Offering Memorandum or the Offering
     Memorandum, or any order asserting that any of the transactions
     contemplated by this Agreement are subject to the registration requirements
     of the Act, has been issued or, to the knowledge of the Issuer or the
     Subsidiaries, has been threatened.

          (ii) There are no securities of the Issuer that are listed on a
     national securities exchange registered under Section 6 of the Exchange Act
     or that are quoted in a United States automated interdealer quotation
     system of the same class as the Notes within the meaning of Rule 144A under
     the Act.

          (iii) As of the Closing Date, the Issuer shall have an authorized
     capitalization as set forth under the heading "Capitalization" in the
     Offering Memorandum. All of the issued and outstanding shares of capital
     stock or other equity interests of the Issuer have been duly authorized and
     validly issued, are fully paid and nonassessable and were not issued in
     violation of any preemptive or similar right. Attached as Schedule I is a
     true and complete list of each subsidiary of the Issuer that would be a
     "Significant Subsidiary" as defined in Article 1, Rule 1-02 of Regulation
     S-X under the Act, assuming all references to "10 percent" in such
     definition are changed to "5 percent," its jurisdictions of incorporation
     or formation, type of entity and percentage equity ownership by the Issuer
     (all such Significant Subsidiaries, the "Subsidiaries"). The entities
     listed on Schedule I hereto are the only Subsidiaries, direct or indirect,
     of the Issuer. All of the issued and outstanding shares of capital stock or
     other equity interests of the Issuer's Subsidiaries have been duly and
     validly authorized and issued, are fully paid and nonassessable, were not
     issued in violation of any preemptive or similar right and, except as set
     forth in the Offering Memorandum, are owned by the Issuer free and clear of
     all Liens (as defined in the Indenture) (other than those imposed by the
     Act and the securities or "Blue Sky" laws of certain jurisdictions). Except
     as set forth in the Offering Memorandum, there are no outstanding options,
     warrants or other rights to acquire or purchase, or instruments convertible
     into or exchangeable for, any shares of capital stock of any of the
     Issuer's Subsidiaries. No holder of any securities of the Issuer or any of
     the Subsidiaries is entitled to have such securities (other than the Notes)
     registered under any registration statement contemplated by the
     Registration Rights Agreement or any other agreement.
<PAGE>

                                      -8-

          (iv) The Issuer and each of its Subsidiaries (a) is a corporation,
     partnership or other entity duly organized and validly existing under the
     laws of the jurisdiction of its organization; (b) has all requisite
     corporate or other power and authority, and has all governmental licenses,
     authorizations, consents and approvals, necessary to own its property and
     carry on its business as now being conducted, except if the failure to
     obtain any such license, authorization, consent and approval could not
     reasonably be expected to have a Material Adverse Effect; and (c) is
     qualified to do business and is in good standing in all jurisdictions in
     which the nature of the business conducted by it makes such qualification
     necessary and where failure to be so qualified and in good standing
     individually or in the aggregate could reasonably be expected to have a
     Material Adverse Effect. A "Material Adverse Effect" means any material
     adverse effect on the business, condition (financial or other), results of
     operations, performance, properties or prospects of the Issuer and its
     subsidiaries, taken as a whole.

          (v) The Issuer has all requisite corporate power and authority to
     execute, deliver and perform all of its obligations under the Note
     Documents to which it is a party and to consummate the transactions
     contemplated by the Note Documents to be consummated on its part and,
     without limitation, the Issuer has all requisite corporate power and
     authority to issue, sell and deliver and perform its obligations under the
     Notes.

          (vi) This Agreement has been duly and validly authorized, executed and
     delivered by the Issuer.

          (vii) The Indenture has been duly and validly authorized by the Issuer
     and, when duly executed and delivered by the Issuer (assuming the due
     authorization, execution and delivery thereof by the Trustee), will be a
     legal, valid and binding obligation of the Issuer, enforceable against it
     in accordance with its terms, except as the enforcement thereof may be
     limited by bankruptcy, insolvency, reorganization, fraudulent conveyance,
     moratorium or other similar laws affecting the enforcement of creditors'
     rights generally and by general principles of equity and the discretion of
     the court before which any proceeding therefor may be brought. The
     Indenture, when executed and delivered, will conform in all material
     respects to the description thereof in the Offering Memorandum.

          (viii) The Original Notes have been duly and validly authorized for
     issuance and sale to the Initial Purchaser by the Issuer and, when issued,
     authenticated and delivered by the Issuer against payment by the Initial
     Purchaser in accordance with the terms of this Agreement and the Indenture,
     the Original Notes will be legal, valid and binding obligations of the
     Issuer, entitled to the benefits of the Indenture and enforceable against
     the Issuer in accordance with their terms, except as the enforcement
     thereof may be limited by bankruptcy, insolvency, reorganization,
     fraudulent conveyance, moratorium or other similar laws affecting the
     enforcement of creditors' rights generally and by general principles of
     equity and the discretion of the court before which any proceeding therefor
     may be brought. The Original Notes, when issued, authenticated and
     delivered, will conform in all material respects to the description thereof
     in the Offering Memorandum.
<PAGE>

                                      -9-

          (ix) The Exchange Notes have been, or on or before the Closing Date
     will be, duly and validly authorized for issuance by the Issuer, and when
     issued, authenticated and delivered by the Issuer in accordance with the
     terms of the Registration Rights Agreement, the Exchange Offer and the
     Indenture, the Exchange Notes will be legal, valid and binding obligations
     of the Issuer, entitled to the benefits of the Indenture and enforceable
     against the Issuer in accordance with their terms, except as the
     enforcement thereof may be limited by bankruptcy, insolvency,
     reorganization, fraudulent conveyance, moratorium or other similar laws
     affecting the enforcement of creditors' rights generally and by general
     principles of equity and the discretion of the court before which any
     proceeding therefor may be brought.

          (x) The Registration Rights Agreement has been duly and validly
     authorized by the Issuer and, when duly executed and delivered by the
     Issuer (assuming the due authorization, execution and delivery thereof by
     the Initial Purchaser), will constitute a legal, valid and binding
     obligation of the Issuer, enforceable against it in accordance with its
     terms, except that (A) the enforcement thereof may be subject to (i)
     bankruptcy, insolvency, reorganization, moratorium or other similar laws
     now or hereafter in effect relating to creditors' rights generally, and
     (ii) general principles of equity and the discretion of the court before
     which any proceeding therefor may be brought and (B) any rights to
     indemnity or contribution thereunder may be limited by federal and state
     securities laws and public policy considerations. The Registration Rights
     Agreement will conform in all material respects to the description thereof
     in the Offering Memorandum.

          (xi) All taxes, fees and other governmental charges that are due and
     payable on or prior to the Closing Date in connection with the execution,
     delivery and performance of the Note Documents and the execution, delivery
     and sale of the Original Notes shall have been paid by or on behalf of the
     Issuer at or prior to the Closing Date.

          (xii) Except as set forth in the Offering Memorandum, none of the
     Issuer or its Subsidiaries is (A) in violation of its charter, bylaws or
     other constitutive documents, (B) in default (or, with notice or lapse of
     time or both, would be in default) in the performance or observance of any
     obligation, agreement, covenant or condition contained in any bond,
     debenture, note, indenture, mortgage, deed of trust, loan or credit
     agreement, lease, license, franchise agreement, authorization, permit,
     certificate or other agreement or instrument to which any of them is a
     party or by which any of them is bound or to which any of their assets or
     properties is subject (collectively, "Agreements and Instruments"), or (C)
     in violation of any law, statute, rule, regulation, judgment, order or
     decree of any domestic or foreign court with jurisdiction over any of them
     or any of their assets or properties or other governmental or regulatory
     authority, agency or other body, which, in the case of clauses (B) and (C)
     herein, would reasonably be expected to have, either individually or in the
     aggregate, a Material Adverse Effect. There exists no condition that, with
     notice, the passage of time or otherwise, would constitute a default by the
     Issuer or its Subsidiaries under any such document or instrument or result
     in the imposition of any penalty or the acceleration of any indebtedness,
     other than penalties, defaults or conditions that would not have a Material
     Adverse Effect.
<PAGE>

                                     -10-

          (xiii) The execution, delivery and performance by the Issuer of the
     Note Documents to which it is a party, including the consummation of the
     offer and sale of the Original Notes does not or will not violate, conflict
     with or constitute a breach of any of the terms or provisions of or a
     default under (or an event that with notice or the lapse of time, or both,
     would constitute a default), or require consent under, or result in the
     creation or imposition of a lien, charge or encumbrance on any property or
     assets of the Issuer or any Subsidiary or an acceleration of any
     indebtedness of the Issuer or any Subsidiary pursuant to, (i) the charter,
     bylaws or other constitutive documents of the Issuer or any Subsidiary,
     (ii) assuming the consummation of the transactions contemplated thereby,
     any Agreements and Instruments, (iii) any law, statute, rule or regulation
     applicable to the Issuer or any Subsidiary or its respective assets or
     properties or (iv) any judgment, order or decree of any domestic or foreign
     court or governmental agency or authority having jurisdiction over the
     Issuer or any Subsidiary or its respective assets or properties. Assuming
     the accuracy of the representations and warranties of the Initial Purchaser
     in Section 5(b) of this Agreement, no consent, approval, authorization or
     order of, or filing, registration, qualification, license or permit of or
     with, any court or governmental agency, body or administrative agency,
     domestic or foreign, is required to be obtained or made by the Issuer or
     any Subsidiary for the execution, delivery and performance by the Issuer or
     any Subsidiary of the Note Documents to which it is a party including the
     consummation of any of the transactions contemplated thereby, except (w)
     such as have been or will be obtained or made on or prior to the Closing
     Date, (x) registration of the Exchange Offer or resale of the Notes under
     the Act pursuant to the Registration Rights Agreement, or (y) qualification
     of the Indenture under the Trust Indenture Act of 1939, as amended (the
     "Trust Indenture Act"), in connection with the issuance of the Exchange
     Notes. No consents or waivers from any other person or entity are required
     for the execution, delivery and performance of this Agreement or any of the
     other Note Documents or the consummation of any of the transactions
     contemplated thereby, other than such consents and waivers as have been
     obtained or will be obtained prior to the Closing Date.

          (xiv) Except as set forth in the Offering Memorandum, there is (A) no
     action, suit or proceeding before or by any court, arbitrator or
     governmental agency, body or official, domestic or foreign, now pending or,
     to the knowledge of the Issuer or any Subsidiary, threatened or
     contemplated to which the Issuer or any Subsidiary is or may be a party or
     to which the business, assets or property of such person is or may be
     subject, (B) no statute, rule, regulation or order that has been enacted,
     adopted or issued or, to the knowledge of the Issuer, that has been
     proposed by any governmental body or agency, domestic or foreign, (C) no
     injunction, restraining order or order of any nature by a federal or state
     court or foreign court of competent jurisdiction to which the Issuer or any
     Subsidiary is or may be subject that (x) in the case of clause (A) above,
     if determined adversely to the Issuer or any Subsidiary, would reasonably
     be expected, either individually or in the aggregate, (1) to have a
     Material Adverse Effect or (2) to interfere with or adversely affect the
     issuance of the Notes in any jurisdiction or adversely affect the
     consummation of the transactions contemplated by any of the Note Documents
     and (y) in the case of clauses (B) and (C) above, would reasonably be
     expected, either individually or in the aggregate, (1) to have a Material
     Adverse Effect or (2) to interfere with or adversely affect the issuance of
     the Notes in any jurisdiction or adversely affect the
<PAGE>

                                     -11-

     consummation of the transactions contemplated by any of the Note Documents.
     Every request of any securities authority or agency of any jurisdiction for
     additional information with respect to the Notes that has been received by
     the Issuer or any Subsidiary or their counsel prior to the date hereof has
     been, or will prior to the Closing Date be, complied with in all material
     respects.

          (xv) Except as would not reasonably be expected to have a Material
     Adverse Effect, no labor disturbance by the employees of the Issuer or its
     Subsidiaries exists or, to the knowledge of the Issuer, is imminent.

          (xvi) Except as set forth in the Offering Memorandum, the Issuer and
     each Subsidiary (A) is in compliance with, or not subject to costs or
     liabilities under, laws, regulations, rules of common law, orders and
     decrees, as in effect as of the date hereof, and any present judgments and
     injunctions issued or promulgated thereunder relating to pollution or
     protection of public and employee health and safety, the environment or
     hazardous or toxic substances or wastes, pollutants or contaminants
     applicable to it or its business or operations or ownership or use of its
     property ("Environmental Laws"), other than noncompliance or such costs or
     liabilities that would not reasonably be expected to have a Material
     Adverse Effect, and (B) possesses all permits, licenses or other approvals
     required under applicable Environmental Laws, except where the failure to
     possess any such permit, license or other approval would not reasonably be
     expected to have, either individually or in the aggregate, a Material
     Adverse Effect. All currently pending and, to the knowledge of the Issuer,
     threatened proceedings, notices of violation, demands, notices of potential
     responsibility or liability, suits and existing environmental
     investigations by any governmental authority which the Issuer or the
     Subsidiaries could reasonably expect to result in a Material Adverse Effect
     are fully and accurately described in all material respects in the Offering
     Memorandum. The Issuer and each Subsidiary maintains a system of internal
     environmental management controls sufficient to provide reasonable
     assurance of compliance in all material respects of its business
     facilities, real property and operations with requirements of applicable
     Environmental Laws.

          (xvii) The Issuer and each Subsidiary has (A) all licenses,
     certificates, permits, authorizations, approvals, franchises and other
     rights from, and has made all declarations and filings with, all applicable
     authorities, all self-regulatory authorities and all courts and other
     tribunals (each, an "Authorization") necessary to engage in the business
     conducted by it in the manner described in the Offering Memorandum, except
     where the failure to hold such Authorizations would not reasonably be
     expected to have a Material Adverse Effect, and (B) no reason to believe
     that any governmental body or agency, domestic or foreign, is considering
     limiting, suspending or revoking any such Authorization, except where such
     limitation, suspension or revocation would not reasonably be expected to
     have a Material Adverse Effect. All such Authorizations are valid and in
     full force and effect and the Issuer and each Subsidiary is in compliance
     in all material respects with the terms and conditions of all such
     Authorizations and with the rules and regulations of the regulatory
     authorities having jurisdiction with respect to such Authorizations, except
     for any invalidity, failure to be in full force and effect or non-
<PAGE>

                                     -12-

     compliance with any Authorization that would not reasonably be expected to
     have a Material Adverse Effect.

          (xviii) The Issuer and each Subsidiary has valid title in fee simple
     to all items of real property and title to all personal property owned by
     each of them, in each case free and clear of any pledge, lien, encumbrance,
     security interest or other defect or claim of any third party, except (i)
     such as do not materially and adversely affect the value of such property
     and do not interfere with the use made or proposed to be made of such
     property by the Issuer or such Subsidiary to an extent that such
     interference could not be reasonably expected to have a Material Adverse
     Effect, and (ii) liens set forth in the Offering Memorandum. Any real
     property and buildings held under lease by the Issuer or any such
     Subsidiary are held under valid, subsisting and enforceable leases, with
     such exceptions as do not materially interfere with the use made or
     proposed to be made of such property and buildings by the Issuer or such
     Subsidiary.

          (xix) The Issuer and each Subsidiary owns, possesses or has the right
     to employ all patents, patent rights, licenses, inventions, copyrights,
     know-how (including trade secrets and other unpatented and/or unpatentable
     proprietary or confidential information, systems or procedures),
     trademarks, service marks and trade names (collectively, the "Intellectual
     Property") necessary to conduct the businesses operated by it as described
     in the Offering Memorandum, except where the failure to own, possess or
     have the right to employ such Intellectual Property would not reasonably be
     expected to have a Material Adverse Effect. Neither the Issuer nor any
     Subsidiary has received any notice of infringement of or conflict with (and
     neither knows of any such infringement or a conflict with) asserted rights
     of others with respect to any of the foregoing that, if such assertion of
     infringement or conflict were sustained, would reasonably be expected to
     have a Material Adverse Effect. The use of the Intellectual Property in
     connection with the business and operations of the Issuer and the
     Subsidiaries does not infringe on the rights of any person, except for such
     infringement as would not reasonably be expected to have a Material Adverse
     Effect.

          (xx) All tax returns required to be filed by the Issuer and each
     Subsidiary have been filed in all jurisdictions where such returns are
     required to be filed; and all taxes, including withholding taxes, value
     added and franchise taxes, penalties and interest, assessments, fees and
     other charges due or that are due and payable have been paid, other than
     those being contested in good faith and for which reserves have been
     provided in accordance with GAAP (as defined in the Indenture) or those
     currently payable without penalty or interest and except where the failure
     to make such required filings or payment would not reasonably be expected
     to have a Material Adverse Effect. To the knowledge of the Issuer, there
     are no material proposed additional tax assessments against any of the
     Issuer and the Subsidiaries or their assets or property.

          (xxi) Neither the Issuer nor the Subsidiaries has any liability for
     any prohibited transaction or accumulated funding deficiency (within the
     meaning of Section 412 of the Code) or any complete or partial withdrawal
     liability with respect to any pension, profit sharing or other plan which
     is subject to the Employee Retirement Income Security Act of 1974, as
     amended
<PAGE>

                                     -13-

     ("ERISA"), to which the Issuer or any of its Subsidiaries makes or ever has
     made a contribution and in which any employee of the Issuer or any of its
     Subsidiaries is or has ever been a participant. With respect to such plans,
     the Issuer and each of the Subsidiaries is in compliance in all material
     respects with all applicable provisions of ERISA.

          (xxii) Neither the Issuer nor any Subsidiary is an "investment
     company" or a company "controlled" by an "investment company" incorporated
     in the United States within the meaning of the Investment Company Act of
     1940, as amended.

          (xxiii) Except as provided in the Registration Rights Agreement, there
     are no holders of securities of the Issuer or any Subsidiary who have the
     right to request or demand that the Issuer or any Subsidiary register under
     the Act any of such securities held by any such holder.

          (xxiv) The Issuer and each Subsidiary maintain a system of internal
     accounting controls sufficient to provide reasonable assurance that: (A)
     transactions are executed in accordance with management's general or
     specific authorizations; (B) transactions are recorded as necessary to
     permit preparation of its financial statements in conformity with GAAP and
     to maintain accountability for assets; (C) access to assets is permitted
     only in accordance with management's general or specific authorization; and
     (D) the recorded accountability for its assets is compared with the
     existing assets at reasonable intervals and appropriate action is taken
     with respect to any differences.

          (xxv) The Issuer and each Subsidiary maintain insurance covering their
     properties, assets, operations and businesses, and such insurance is of
     such type and in reasonably sufficient amounts in order to protect the
     Issuer and the Subsidiaries and their businesses.

          (xxvi) Neither the Issuer nor any of its affiliates (as defined in
     Rule 501(b) of Regulation D under the Act) to its knowledge has (A) taken,
     directly or indirectly, any action designed to, or that might reasonably be
     expected to, cause or result in stabilization or manipulation of the price
     of any security of the Issuer to facilitate the sale or resale of the
     Original Notes or (B) sold, bid for, purchased or paid any person any
     compensation for soliciting purchases of the Original Notes in a manner
     that would require registration of the Original Notes under the Act or paid
     or agreed to pay to any person any compensation for soliciting another to
     purchase any other securities of any Issuer in a manner that would require
     registration of the Original Notes under the Act.

          (xxvii) Neither the Issuer nor any of its affiliates (as defined in
     Regulation D under the Act) to its knowledge has, directly or through any
     agent (other than the Initial Purchaser or any affiliate of the Initial
     Purchaser, as to which no representation is made), sold, offered for sale,
     contracted to sell, pledged, solicited offers to buy or otherwise disposed
     of or negotiated in respect of any security (as defined in the Act) that is
     currently or will be integrated with the sale of the Original Notes in a
     manner that would require the registration of the Original Notes under the
     Act.
<PAGE>

                                     -14-

          (xxviii) Neither the Issuer nor any of its affiliates to its
     knowledge, or any person acting on its or their behalf (other than the
     Initial Purchaser, as to whom the Issuer makes no representation), is
     engaged in any directed selling effort with respect to the Original Notes,
     and each of them has complied with the offering restrictions requirement of
     Regulation S under the Act. Terms used in this paragraph have the meaning
     given to them by Regulation S.

          (xxix) No consent, approval, authorization or other order of, or
     registration or filing with, any court or other governmental or regulatory
     authority or agency is required for the Issuer's execution, delivery and
     performance of the Note Documents or the issuance and delivery of the
     Notes, or consummation of the transactions contemplated hereby and thereby
     and by the Offering Memorandum (including, but not limited to, the
     obligations of the Issuer to effect payments of principal of and premium,
     interest and Liquidated Damages (as defined in the Registration Rights
     Agreement), if any, on the Notes in Euros free of any liability on the part
     of any holder thereof), except such as have been obtained or made by the
     Issuer and are in full force and effect and as may be required by federal
     and state securities laws with respect to the Issuer's obligations under
     the Registration Rights Agreement. No form of general solicitation or
     general advertising (prohibited by the Act in connection with offers or
     sales such as the Exempt Resales) was used by the Issuer or any of its
     representatives (other than the Initial Purchaser, as to whom the Issuer
     makes no representation) in connection with the offer and sale of any of
     the Original Notes or in connection with Exempt Resales, including, but not
     limited to, articles, notices or other communications published in any
     newspaper, magazine or similar medium or broadcast over television or radio
     or displayed on any computer terminal, or any seminar or meeting whose
     attendees have been invited by any general solicitation or general
     advertising. Neither the Issuer nor any of its affiliates has entered into,
     and neither the Issuer nor any of its affiliates will enter into, any
     contractual arrangement with respect to the distribution of the Original
     Notes except for this Agreement.

          (xxx) As of December 31, 2000, neither the Issuer nor any Subsidiary
     had any material liabilities or obligations, direct or contingent, that
     were not set forth in the Issuer's consolidated balance sheet as of such
     date or in the notes thereto set forth in the Offering Memorandum. Since
     December 31, 2000, except as set forth or contemplated in the Offering
     Memorandum, (a) neither the Issuer nor any Subsidiary has (1) incurred any
     liabilities or obligations, direct or contingent, that would reasonably be
     expected to have a Material Adverse Effect, or (2) entered into any
     material transaction not in the ordinary course of business, (b) there has
     not been any event or development in respect to the business or condition
     (financial or other) of the Issuer and the Subsidiaries that, either
     individually or in the aggregate, would reasonably be expected to have a
     Material Adverse Effect, (c) there has been no dividend or distribution of
     any kind declared, paid or made by the Issuer on any class of its capital
     stock and (d) there has not been any change in the long-term debt of the
     Issuer or any of the Subsidiaries.

          (xxxi) Neither the Issuer nor any of the Subsidiaries (or any agent
     thereof acting on their behalf) has taken, and none of them will take, any
     action that might cause this Agreement or the issuance or sale of the Notes
     to violate Regulation T, U or X of the Board of Gov-
<PAGE>

                                     -15-

     ernors of the Federal Reserve System, as in effect, or as the same may
     hereafter be in effect, on the Closing Date.

          (xxxii) PricewaterhouseCoopers LLP and Ernst & Young LLP are
     independent accountants within the meaning of the Act. The historical
     financial statements and the notes thereto included in the Offering
     Memorandum present fairly in all material respects the consolidated
     financial position and results of operations of the Issuer and its
     subsidiaries at the respective dates and for the respective periods
     indicated. Such financial statements have been prepared in accordance with
     GAAP applied on a consistent basis throughout the periods presented (except
     as disclosed in the Offering Memorandum). The other financial and
     statistical information and data included in the Offering Memorandum are
     accurately presented in all material respects and prepared on a basis
     consistent with the financial statements and the books and records of the
     Issuer and its subsidiaries.

          (xxxiii) As of the date hereof (immediately prior to and immediately
     following the issuance of the Notes on such date) the Issuer and each of
     the Subsidiaries is and will be Solvent. The Issuer is contemplating
     neither the filing of a petition by it under any bankruptcy or insolvency
     laws nor the liquidating of all or a substantial portion of its property,
     and the Issuer has no knowledge of any person contemplating the filing of
     any such petition against the Issuer. As used herein, "Solvent" shall mean,
     for any person on a particular date, that on such date (a) the fair value
     of the property of such person is greater than the total amount of
     liabilities, including, without limitation, contingent liabilities, of such
     person, (b) the present fair salable value of the assets of such person is
     not less than the amount that will be required to pay the probable
     liability of such person on its debts as they become absolute and matured,
     (c) such person does not intend to, and does not believe that it will,
     incur debts and liabilities beyond such person's ability to pay as such
     debts and liabilities mature, (d) such person is not engaged in a business
     or a transaction, and is not about to engage in a business or a
     transaction, for which such person's property would constitute an
     unreasonably small capital and (e) such person is able to pay its debts as
     they become due and payable.

          (xxxiv) Except as described in the section entitled "Plan of
     Distribution" in the Offering Memorandum, there are no contracts,
     agreements or understandings between the Issuer or any of its Subsidiaries
     and any other person other than the Initial Purchaser that would give rise
     to a valid claim against the Issuer, any such Subsidiary or the Initial
     Purchaser for a brokerage commission, finder's fee or like payment in
     connection with the issuance, purchase and sale of the Notes.

          (xxxv) The statistical and market-related data and forward-looking
     statements (within the meaning of Section 27A of the Act and Section 21E of
     the Exchange Act) included in the Offering Memorandum are based on or
     derived from sources that the Issuer believes to be reliable and accurate
     in all material respects and represent its good faith estimates that are
     made on the basis of data derived from such sources.
<PAGE>

                                     -16-

          (xxxvi) Each certificate signed by any officer of the Issuer and
     delivered to the Initial Purchaser or counsel for the Initial Purchaser
     pursuant to, or in connection with, this Agreement shall be deemed to be a
     representation and warranty by the Issuer to the Initial Purchaser as to
     the matters covered by such certificate.

     The Issuer acknowledges that the Initial Purchaser and, for purposes of the
opinions to be delivered to the Initial Purchaser pursuant to Section 8 of this
Agreement, counsel to the Issuer and counsel to the Initial Purchaser will rely
upon the accuracy and truth of the foregoing representations and the Issuer
hereby consents to such reliance.

     (b) The Initial Purchaser acknowledges that it is purchasing the Original
Notes pursuant to a private sale exemption from registration under the
Securities Act, and that the Original Notes have not been registered under the
Securities Act and may not be offered or sold within the United States or to, or
for the account or benefit of, U.S. persons except pursuant to an exemption from
the registration requirements of the Securities Act. The Initial Purchaser
represents, warrants and covenants to the Issuer that:

          (i) It is a QIB or an Institutional "Accredited Investor" (as defined
     under Rule 501 of Regulation D under the Act) in either case with such
     knowledge and experience in financial and business matters as are necessary
     in order to evaluate the merits and risks of an investment in the Notes.

          (ii) (A) Neither it, nor any person acting on its behalf, has or will
     solicit offers for, or offer or sell, the Original Notes by any form of
     general solicitation or general advertising (as those terms are used in
     Regulation D under the Act) or in any manner involving a public offering
     within the meaning of Section 4(2) of the Act and (B) it has and will
     solicit offers for the Original Notes only from, and will offer and sell
     the Original Notes only to, (1) persons whom such Initial Purchaser
     reasonably believes to be QIBs or, if any such person is buying for one or
     more institutional accounts for which such person is acting as fiduciary or
     agent, only when such person has represented to the Initial Purchaser that
     each such account is a QIB to whom notice has been given that such sale or
     delivery is being made in reliance on Rule 144A, and, in each case, in
     reliance on the exemption from the registration requirements of the Act
     pursuant to Rule 144A, or (2) persons other than U.S. persons outside the
     United States in reliance on the exemption from the registration
     requirements of the Act provided by Regulation S.

          (iii) With respect to offers and sales outside the United States:

               (A) the Initial Purchaser will comply with all applicable laws
          and regulations in each jurisdiction in which it acquires, offers,
          sells or delivers Notes or has in its possession or distributes either
          any Offering Memorandum or any such other material, in all cases at
          its own expense; and

               (B) the Initial Purchaser has offered the Original Notes and will
          offer and sell the Original Notes (1) as part of its distribution at
          any time and (2) otherwise until
<PAGE>

                                     -17-

          40 days after the later of the commencement of the offering of the
          Original Notes and the Closing Date, only in accordance with Rule 903
          of Regulation S or another exemption from the registration
          requirements of the Act. Accordingly, neither the Initial Purchaser
          nor any persons acting on its behalf has engaged or will engage in any
          directed selling efforts (within the meaning of Regulation S) with
          respect to the Original Notes, and any such persons have complied and
          will comply with the offering restrictions requirements of Regulation
          S.

     Terms used in this Section 5(b)(iii) have the meanings given to them by
Regulation S.

          (iv) The source of funds being used by it to acquire the Original
     Notes does not include the assets of any "employee benefit plan" (within
     the meaning of Section 3 of ERISA) or any "plan" (within the meaning of
     Section 4975 of the Code).

     The Initial Purchaser understands that the Issuer and, for purposes of the
opinions to be delivered to them pursuant to Section 8 hereof, counsel to the
Issuer and counsel to the Initial Purchaser will rely upon the accuracy and
truth of the foregoing representations, and the Initial Purchaser hereby
consents to such reliance.

     6. Indemnification. (a) The Issuer agrees to indemnify and hold harmless
        ---------------
the Initial Purchaser, each person, if any, who controls the Initial Purchaser
within the meaning of Section 15 of the Act or Section 20(a) of the Exchange
Act, the agents, employees, officers and directors of the Initial Purchaser and
the agents, employees, officers and directors of any such controlling person
from and against any and all losses, liabilities, claims, damages and expenses
whatsoever (including, but not limited, to reasonable attorneys' fees and any
and all reasonable expenses whatsoever incurred in investigating, preparing or
defending against any litigation, commenced or threatened, or any claim
whatsoever, and any and all reasonable amounts paid in settlement of any claim
or litigation) (collectively, "Losses") to which it or any of them may become
subject under the Act, the Exchange Act or otherwise insofar as such Losses (or
actions in respect thereof) arise out of or are based upon any untrue statement
or alleged untrue statement of a material fact contained in the Preliminary
Offering Memorandum or the Offering Memorandum, or in any supplement thereto or
amendment thereof, or arise out of or are based upon the omission or alleged
omission to state therein a material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not
misleading; provided, however, that the Issuer will not be liable in any such
case to the extent, but only to the extent, that any such Loss arises out of or
is based upon any such untrue statement or alleged untrue statement or omission
or alleged omission made therein in reliance upon and in conformity with written
information relating to the Initial Purchaser furnished to the Issuer by or on
behalf of the Initial Purchaser expressly for use therein, provided, however,
that with respect to any untrue statement or omission from the Preliminary
Offering Memorandum the indemnity agreement contained in this Section 6(a) shall
not inure to the benefit of the Initial Purchaser to the extent that the sale to
the person asserting any such Loss was an initial resale by the Initial
Purchaser and any such Loss of or with respect to the Initial Purchaser results
from the fact that both (A) to the extent required by applicable law, a copy of
the Offering Memorandum was not sent or given to such person at or prior to the
written confirmation of the sale of the Notes to such person and (B) the untrue
statement in
<PAGE>

                                     -18-

or omission from the Preliminary Offering Memorandum was corrected in the
Offering Memorandum. This indemnity agreement will be in addition to any
liability that the Issuer may otherwise have, including, but not limited to,
liability under this Agreement.

     (b) The Initial Purchaser agrees to indemnify and hold harmless the Issuer,
and each person, if any, who controls the Issuer within the meaning of Section
15 of the Act or Section 20(a) of the Exchange Act, each of its agents,
employees, officers and directors and the agents, employees, officers and
directors of any such controlling person from and against any Losses to which
they or any of them may become subject under the Act, the Exchange Act or
otherwise insofar as such Losses (or actions in respect thereof) arise out of or
are based upon any untrue statement or alleged untrue statement of a material
fact contained in the Preliminary Offering Memorandum or the Offering
Memorandum, or in any amendment thereof or supplement thereto, or arise out of
or are based upon the omission or alleged omission to state therein a material
fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading, in each case to the extent, but only
to the extent, that any such Loss arises out of or is based upon any untrue
statement or alleged untrue statement or omission or alleged omission made
therein in reliance upon and in conformity with information relating to the
Initial Purchaser furnished in writing to the Issuer by or on behalf of the
Initial Purchaser expressly for use therein. The Issuer and the Initial
Purchaser acknowledge that the information described in Section 9 is the only
information furnished in writing by the Initial Purchaser to the Issuer
expressly for use in the Preliminary Offering Memorandum or the Offering
Memorandum.

     (c) Promptly after receipt by an indemnified party under subsection 6(a) or
6(b) above of notice of the commencement of any action, suit or proceeding
(collectively, an "action"), such indemnified party shall, if a claim in respect
thereof is to be made against the indemnifying party under such subsection,
notify each party against whom indemnification is to be sought in writing of the
commencement of such action (but the failure so to notify an indemnifying party
shall not relieve such indemnifying party from any liability that it may have
under this Section 6 except to the extent that it has been prejudiced in any
material respect by such failure). In case any such action is brought against
any indemnified party, and it notifies an indemnifying party of the commencement
of such action, the indemnifying party will be entitled to participate in such
action, and to the extent it may elect by written notice delivered to the
indemnified party promptly after receiving the aforesaid notice from such
indemnified party, to assume the defense of such action with counsel
satisfactory to such indemnified party. Notwithstanding the foregoing, the
indemnified party or parties shall have the right to employ its or their own
counsel in any such action, but the reasonable fees and expenses of such counsel
shall be at the expense of such indemnified party or parties unless (i) the
employment of such counsel shall have been authorized in writing by the
indemnifying parties in connection with the defense of such action, (ii) the
indemnifying parties shall not have employed counsel to take charge of the
defense of such action within a reasonable time after notice of commencement of
the action, or (iii) the named parties to such action (including any impleaded
parties) include such indemnified party and the indemnifying parties (or such
indemnifying parties have assumed the defense of such action), and such
indemnified party or parties shall have reasonably concluded that there may be
defenses available to it or them that are different from or additional to those
available to one or all of the indemnifying parties (in which case the
indemnifying parties shall not have the right to direct the de-
<PAGE>

                                     -19-

fense of such action on behalf of the indemnified party or parties), in any of
which events such reasonable fees and expenses of counsel shall be borne by the
indemnifying parties. In no event shall the indemnifying party be liable for the
fees and expenses of more than one counsel (together with appropriate local
counsel) at any time for all indemnified parties in connection with any one
action or separate but substantially similar or related actions arising in the
same jurisdiction out of the same general allegations or circumstances. An
indemnifying party shall not be liable for any settlement of any claim or action
effected without its written consent, which consent may not be unreasonably
withheld. Notwithstanding the foregoing sentence, if at any time an indemnified
party shall have requested an indemnifying party to reimburse the indemnified
party for fees and expenses of counsel as contemplated by paragraph (a) or (b)
of this Section 6, then the indemnifying party agrees that it shall be liable
for any settlement of any proceeding effected without its written consent if (i)
such settlement is entered into more than 45 business days after receipt by such
indemnifying party of the aforesaid request, (ii) such indemnifying party shall
not have reimbursed the indemnified party in accordance with such request prior
to the date of such settlement and (iii) such indemnified party shall have given
the indemnifying party at least 45 days prior notice of its intention to settle.
No indemnifying party shall, without the prior written consent of the
indemnified party, effect any settlement of any pending or threatened proceeding
in respect of which any indemnified party is or could have been a party and
indemnity could have been sought hereunder by such indemnified party, unless
such settlement includes an unconditional release of such indemnified party from
all liability on claims that are the subject matter of such proceeding.

     7. Contribution. In order to provide for contribution in circumstances in
        ------------
which the indemnification provided for in Section 6 of this Agreement is for any
reason held to be unavailable from the indemnifying party, or is insufficient to
hold harmless a party indemnified under Section 6 of this Agreement, each
indemnifying party shall contribute to the amount paid or payable by such
indemnified party as a result of such aggregate Losses (i) in such proportion as
is appropriate to reflect the relative benefits received by the Issuer, on the
one hand, and the Initial Purchaser, on the other hand, from the offering of the
Original Notes or (ii) if such allocation is not permitted by applicable law, in
such proportion as is appropriate to reflect not only the relative benefits
referred to above but also the relative fault of the Issuer, on the one hand,
and the Initial Purchaser, on the other hand, in connection with the statements
or omissions that resulted in such Losses, as well as any other relevant
equitable considerations. The relative benefits received by the Issuer, on the
one hand, and the Initial Purchaser, on the other hand, shall be deemed to be in
the same proportion as (x) the total proceeds from the offering of Original
Notes (net of discounts and commissions but before deducting expenses) received
by the Issuer are to (y) the total discount received by the Initial Purchaser.
The relative fault of the Issuer, on the one hand, and the Initial Purchaser, on
the other hand, shall be determined by reference to, among other things, whether
the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to information supplied by the
Issuer or the Initial Purchaser and the parties' relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or
omission or alleged statement or omission.

     The Issuer and the Initial Purchaser agree that it would not be just and
equitable if contribution pursuant to this Section 7 were determined by pro rata
allocation or by any other method of allocation that does not take into account
the equitable considerations referred to above. Notwith-
<PAGE>

                                     -20-

standing the provisions of this Section 7, (i) in no case shall the Initial
Purchaser be required to contribute any amount in excess of the amount by which
the total discount applicable to the Original Notes pursuant to this Agreement
exceeds the amount of any damages that the Initial Purchaser has otherwise been
required to pay by reason of any untrue or alleged untrue statement or omission
or alleged omission and (ii) no person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this Section 7, each person, if any, who
controls the Initial Purchaser within the meaning of Section 15 of the Act or
Section 20(a) of the Exchange Act shall have the same rights to contribution as
the Initial Purchaser, and each person, if any, who controls the Issuer within
the meaning of Section 15 of the Act or Section 20(a) of the Exchange Act and
each director, officer, employee and agent of the Issuer shall have the same
rights to contribution as the Issuer. Any party entitled to contribution will,
promptly after receipt of notice of commencement of any action against such
party in respect of which a claim for contribution may be made against another
party or parties under this Section 7, notify such party or parties from whom
contribution may be sought, but the omission to so notify such party or parties
shall not relieve the party or parties from whom contribution may be sought from
any obligation it or they may have under this Section 7 or otherwise, except to
the extent that it has been prejudiced in any material respect by such failure;
provided, however, that no additional notice shall be required with respect to
any action for which notice has been given under Section 6 for purposes of
indemnification. Anything in this section to the contrary notwithstanding, no
party shall be liable for contribution with respect to any action or claim
settled without its written consent, provided, however, that such written
consent was not unreasonably withheld.

     8. Conditions of Initial Purchaser Obligations. The obligations of the
        -------------------------------------------
Initial Purchaser to purchase and pay for the Original Notes, as provided for in
this Agreement, shall be subject to satisfaction of the following conditions
prior to or concurrently with such purchase:

          (a) All of the representations and warranties of the Issuer contained
     in this Agreement shall be true and correct, or true and correct in all
     material respects where such representations and warranties are not
     qualified by materiality or Material Adverse Effect, on the date of this
     Agreement and, in each case after giving effect to the transactions
     contemplated hereby, on the Closing Date, except that if a representation
     and warranty is made as of a specific date, and such date is expressly
     referred to therein, such representation and warranty shall be true and
     correct (or true and correct in all material respects, as applicable) as of
     such date. The Issuer shall have performed or complied with all of the
     agreements and covenants contained in this Agreement and required to be
     performed or complied with by it at or prior to the Closing Date.

          (b) The Offering Memorandum shall have been printed and copies
     distributed to the Initial Purchaser on the day following the date of this
     Agreement or at such later date as the Initial Purchaser may determine. No
     stop order suspending the qualification or exemption from qualification of
     the Original Notes in any jurisdiction shall have been issued and no
     proceeding for that purpose shall have been commenced or shall be pending
     or threatened.
<PAGE>

                                     -21-

          (c) No action shall have been taken and no statute, rule, regulation
     or order shall have been enacted, adopted or issued by any governmental
     agency that would, as of the Closing Date, prevent the issuance of the
     Original Notes or consummation of the Exchange Offer; except as disclosed
     in the Offering Memorandum, no action, suit or proceeding shall have been
     commenced and be pending against or affecting or, to the best knowledge of
     the Issuer, threatened against the Issuer and/or any Subsidiary before any
     court or arbitrator or any governmental body, agency or official that, if
     adversely determined, would reasonably be expected to have a Material
     Adverse Effect; and no stop order preventing the use of the Preliminary
     Offering Memorandum or the Offering Memorandum, or any amendment or
     supplement thereto, or any order asserting that any of the transactions
     contemplated by this Agreement are subject to the registration requirements
     of the Act shall have been issued.

          (d) As of December 31, 2000, neither the Issuer nor any Subsidiary had
     any material liabilities or obligations, direct or contingent, that were
     not set forth in the Issuer's consolidated balance sheet as of such date or
     in the notes thereto set forth in the Offering Memorandum. Since December
     31, 2000, except as set forth or contemplated in the Offering Memorandum,
     (a) neither the Issuer nor any Subsidiary has (1) incurred any liabilities
     or obligations, direct or contingent, that would reasonably be expected to
     have a Material Adverse Effect, or (2) entered into any material
     transaction not in the ordinary course of business, (b) there has not been
     any event or development in respect of the business or condition (financial
     or other) of the Issuer and the Subsidiaries that, either individually or
     in the aggregate, would reasonably be expected to have a Material Adverse
     Effect and (c) there has been no dividend or distribution of any kind
     declared, paid or made by the Issuer on any class of its capital stock.

          (e) The Initial Purchaser shall have received certificates, dated the
     Closing Date, signed by two authorized officers of the Issuer and the
     Subsidiaries confirming, as of the Closing Date, to their knowledge, the
     matters set forth in paragraphs (a), (b), (c) and (d) of this Section 8.

          (f) The Initial Purchaser shall have received on the Closing Date
     opinions (satisfactory in form and substance to the Initial Purchaser)
     dated the Closing Date, addressed to the Initial Purchaser, of Gardner,
     Carton & Douglas and Arnold & Porter, counsel to the Issuer.

          (g) The Initial Purchaser shall have received on the Closing Date an
     opinion (satisfactory in form and substance to the Initial Purchaser) dated
     the Closing Date of Cahill Gordon & Reindel, counsel to the Initial
     Purchaser.

          (h) The Initial Purchaser shall have received a "comfort letter" from
     PricewaterhouseCoopers LLP and Ernst & Young LLP, independent public
     accountants for the Issuer, dated the date of this Agreement, addressed to
     the Initial Purchaser and in form and substance satisfactory to the Initial
     Purchaser and counsel to the Initial Purchaser. In addition, the Initial
     Purchaser shall have received "bring-down comfort letters" from each of
     Pricewaterhouse-
<PAGE>

                                     -22-

     Coopers LLP and Ernst & Young LLP, dated as of the Closing Date, addressed
     to the Initial Purchaser and in form and substance satisfactory to the
     Initial Purchaser and counsel to the Initial Purchaser.

          (i) The Issuer shall have entered into the Indenture and the Initial
     Purchaser shall have received copies, conformed as executed, thereof.

          (j) The Issuer shall have received and countersigned the Commitment
     Letter and to the knowledge of the Issuer such Commitment Letter shall be
     in full force and effect as of the Closing Date and the Initial Purchaser
     shall have received counterparts, conformed as executed, thereof.

          (k) The Issuer shall have entered into the Registration Rights
     Agreement and the Initial Purchaser shall have received counterparts,
     conformed as executed, thereof.

          (l) The Issuer shall have notified the lenders under the Issuer's
     credit agreement dated June 14, 1996, as amended (as in effect on the date
     hereof), of the Issuer's intention to pay all obligations with respect
     thereto with a portion of the proceeds of the Original Notes and
     simultaneously with the issuance of the Original Notes all such obligations
     shall be paid by the Issuer in full. Upon such payment, such credit
     agreement shall be terminated in accordance with the terms thereof.

          (m) The Initial Purchaser shall have received on the Closing Date a
     certificate from the Issuer dated the Closing Date as to the solvency of
     the Issuer and the Subsidiaries, addressed to the Initial Purchaser.

          (n) All government authorizations required in connection with the
     issue and sale of the Notes as contemplated under this Agreement and the
     performance of the Issuer's obligations hereunder and under the Indenture
     and the Notes shall be in full force and effect.

          (o) The Initial Purchaser shall have been furnished with wiring
     instructions for the application of the proceeds of the Original Notes in
     accordance with this Agreement and such other information as they may
     reasonably request.

          (p) Cahill Gordon & Reindel, counsel to the Initial Purchaser, shall
     have been furnished with such documents as they may reasonably request to
     enable them to review or pass upon the matters referred to in this Section
     8 and in order to evidence the accuracy, completeness or satisfaction in
     all material respects of any of the representations, warranties or
     conditions contained in this Agreement.

          (q) All the requirements relating to the approval of the Notes by
     Euroclear and Clearstream for "book-entry" transfer shall have been
     complied with.

     If any of the conditions specified in this Section 8 shall not have been
fulfilled in all material respects when and as required by this Agreement to be
fulfilled (or waived by the Initial Pur-
<PAGE>

                                     -23-

chaser), this Agreement may be terminated by the Initial Purchaser on notice to
the Issuer at any time at or prior to the Closing Date, and such termination
shall be without liability of any party to any other party. Notwithstanding any
such termination, the provisions of Sections 4(f), 6, 7, 9, 10 and 11(d) shall
remain in effect.

     The documents required to be delivered by this Section 8 will be delivered
at the office of counsel for the Initial Purchaser on the Closing Date.

     9. Initial Purchaser Information. The Issuer and the Initial Purchaser
        -----------------------------
severally acknowledge that the statements with respect to the delivery of the
Original Notes to the Initial Purchaser set forth in (i) the last paragraph of
the cover page, (ii) the last sentence of the sixth paragraph of page i and
(iii) the first and second sentences of the fifth paragraph, the seventh
paragraph, the first, second and third sentences of the ninth paragraph, the
tenth paragraph and the eleventh paragraph under the caption "Plan of
Distribution" in the Preliminary Offering Memorandum and the Offering Memorandum
constitute the only information furnished in writing by the Initial Purchaser
expressly for use in the Preliminary Offering Memorandum or the Offering
Memorandum.

     10. Survival of Representations and Agreements. All representations and
         ------------------------------------------
warranties, covenants and agreements contained in this Agreement, including the
agreements contained in Sections 4(f) and 11(d), the indemnity agreements
contained in Section 6 and the contribution agreements contained in Section 7,
shall remain operative and in full force and effect regardless of any
investigation made by or on behalf of the Initial Purchaser or any controlling
person thereof or by or on behalf of the Issuer or any controlling person
thereof, and shall survive delivery of and payment for the Original Notes to and
by the Initial Purchaser. The agreements contained in Sections 4(f), 6, 7, 9 and
11(d) shall survive the termination of this Agreement, including pursuant to
Section 11.

     11. Effective Date of Agreement; Termination. (a) This Agreement shall
         ----------------------------------------
become effective upon execution and delivery of a counterpart hereof by each of
the parties hereto.

     (b) The Initial Purchaser shall have the right to terminate this Agreement
at any time prior to the Closing Date by notice to the Issuer from the Initial
Purchaser, without liability (other than with respect to Sections 6 and 7) on
the Initial Purchaser's part to the Issuer if, on or prior to such date, (i) the
Issuer shall have failed, refused or been unable to perform in any material
respect any agreement on its part to be performed under this Agreement when and
as required, (ii) any other condition to the obligations of the Initial
Purchaser under this Agreement to be fulfilled by the Issuer pursuant to Section
8 is not fulfilled when and as required in any material respect, (iii) trading
in securities generally on the New York Stock Exchange, the American Stock
Exchange or the Nasdaq National Market shall have been suspended or materially
limited, or minimum prices shall have been established thereon by the
Commission, or by such exchange or other regulatory body or governmental
authority having jurisdiction, (iv) a general banking moratorium shall have been
declared by federal or New York authorities, (v) there is an outbreak or
escalation of hostilities or other national or international calamity, in any
case involving the United States, on or after the date of this Agreement, or if
there has been a declaration by the United States of a national emergency or war
or other national or international calamity or crisis (economic, political,
financial or otherwise) which affects the U.S. and
<PAGE>

                                     -24-

international markets, making it, in the Initial Purchaser's reasonable
judgment, impracticable to proceed with the offering or delivery of the Original
Notes on the terms and in the manner contemplated in the Offering Memorandum or
(vi) there shall have been such a material adverse change in general economic,
political or financial conditions or the effect (or potential effect if the
financial markets in the United States have not yet opened) of international
conditions on the financial markets in the United States shall be such as, in
the Initial Purchaser's reasonable judgment, to make it inadvisable or
impracticable to proceed with the offering or delivery of the Notes on the terms
and in the manner contemplated in the Offering Memorandum.

     (c) Any notice of termination pursuant to this Section 11 shall be given at
the address specified in Section 12 below by telephone, telex, telephonic
facsimile or telegraph, confirmed in writing by letter.

     (d) If this Agreement shall be terminated pursuant to clause (i) or (ii) of
Section 11(b), or if the sale of the Notes provided for in this Agreement is not
consummated because of any refusal, inability or failure on the part of the
Issuer to satisfy any condition to the obligations of the Initial Purchaser set
forth in this Agreement to be satisfied on its part or because of any refusal,
inability or failure on the part of the Issuer to perform any agreement in this
Agreement or comply with any provision of this Agreement, the Issuer will,
subject to demand by the Initial Purchaser, reimburse the Initial Purchaser for
all of their reasonable out-of-pocket expenses (including the fees and expenses
of the Initial Purchaser's counsel) incurred in connection with this Agreement.

     12. Notice. All communications with respect to or under this Agreement,
         ------
except as may be otherwise specifically provided in this Agreement, shall be in
writing and, if sent to the Initial Purchaser, shall be mailed, delivered or
telegraphed or telecopied and confirmed in writing to UBS Warburg LLC, 299 Park
Avenue, New York, New York 10171 (telephone: (212) 821-3000, fax number:
203-719-1075), Attention: Syndicate Department; and if sent to the Issuer, shall
be mailed, delivered or telegraphed or telecopied and confirmed in writing to
Sola International Inc., 1290 Oakmead Parkway, Suite 230, Sunnyvale, CA 94085
(telephone: (408) 720-0853, fax: (408) 735-7407), Attention: Chief Financial
Officer.

     All such notices and communications shall be deemed to have been duly
given: when delivered by hand, if personally delivered; five business days after
being deposited in the mail, postage prepaid, if mailed; when receipt
acknowledged by telecopier machine, if telecopied; and one business day after
being timely delivered to a next-day air courier.

     13. Parties. This Agreement shall inure solely to the benefit of, and shall
         -------
be binding upon, the Initial Purchaser, the Issuer and the controlling persons
and agents referred to in Sections 6 and 7, and their respective successors and
assigns, and no other person shall have or be construed to have any legal or
equitable right, remedy or claim under or in respect of or by virtue of this
Agreement or any provision herein contained. The term "successors and assigns"
shall not include a purchaser, in its capacity as such, of Notes from the
Initial Purchaser.
<PAGE>

                                     -25-

     14. Construction. This Agreement shall be construed in accordance with the
         ------------
internal laws of the State of New York (without giving effect to any provisions
thereof relating to conflicts of law).

     15. Captions. The captions included in this Agreement are included solely
         --------
for convenience of reference and are not to be considered a part of this
Agreement.

     16. Counterparts. This Agreement may be executed in various counterparts
         ------------
that together shall constitute one and the same instrument.
<PAGE>

     If the foregoing Purchase Agreement correctly sets forth the understanding
among the Issuer and the Initial Purchaser, please so indicate in the space
provided below for the purpose, whereupon this letter and your acceptance shall
constitute a binding agreement among the Issuer and the Initial Purchaser.

                                    SOLA INTERNATIONAL INC.

                                    By:       /s/  Steven M. Neil
                                           -------------------------------------
                                           Name:    Steven M. Neil
                                           Title:   Executive Vice President

Confirmed and accepted as of the date first above written:

UBS AG, acting through
its business group
UBS WARBURG

By:       /s/  Gary Luciani
       ----------------------------------------------
       Name:  Gary Luciani
       Title:  Managing Director

By:       /s/  David Barth
       ----------------------------------------------
       Name:  David Barth
       Title:  Director
<PAGE>

                                                                      Schedule I
<TABLE>
<CAPTION>
                                                                                   %
                                                                              Owned by         Jurisdiction
                                                                                 the                of
                 Subsidiary                             Type of Entity         Issuer          Incorporation
                 ----------                             --------------       ----------        -------------
<S>                                                    <C>                   <C>                 <C>
Sola Brasil Industria Optica Ltd.                        Corporation             100%             Brazil
American Optical Lens Company                            Corporation             100%         U.S. (Delaware)
AO Ouest Optique S.A.                                    Corporation             100%             France
Sola ADC Lenses Limited                                  Corporation             100%             Ireland
</TABLE>

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