Document:

REGISTRATION RIGHTS AGREEMENT

 EXHIBIT 10.2 
  
 EXECUTION COPY 
  
 FIRST AVENUE NETWORKS, INC. 
 REGISTRATION RIGHTS AGREEMENT 
  
 This REGISTRATION RIGHTS AGREEMENT (this “AGREEMENT”) is made as of December 14, 2004 by and among FIRST AVENUE NETWORKS, INC., a Delaware corporation, (the “COMPANY”), and each investor listed on Schedule
1 hereto (each such investor, individually, an “INVESTOR” and, collectively, the “INVESTORS”). 
  
 WHEREAS, the Company has agreed to issue and sell to the Investors, and the Investors have agreed to purchase from the Company, an aggregate of up to
12,870,000 shares (the “SHARES”) of the Company’s common stock, $0.001 par value per share (including any securities into which or for which such shares may be exchanged for, or converted into, pursuant to any stock dividend,
stock split, stock combination, recapitalization, reclassification, reorganization or other similar event, the “COMMON STOCK”), at a per share price and upon the terms and conditions set forth in the Securities Purchase Agreement,
dated as of the date hereof, between the Company and the Investors (the “SECURITIES PURCHASE AGREEMENT”); and 
  
 WHEREAS, the terms of the Securities Purchase Agreement provide that it shall be a condition precedent to the closing of the transactions thereunder, for
the Company and the Investors to execute and deliver this Agreement. 
  
 NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the parties hereto hereby agree as follows: 
  
 1. DEFINITIONS. The following terms shall have the meanings provided therefor below or elsewhere in this Agreement as described below: 
  
 “AFFILIATE” means any Person that, directly or indirectly, through
one or more intermediaries, controls, is controlled by, or is under common control with, a Person, as such terms are used and construed under Rule 144, and in all cases including, without limitation, any Person that serves as a general partner
and/or investment adviser or in a similar capacity of a Person. 
  
 “BOARD” means the board of directors of the Company. 
  
 “BUSINESS DAY” means any day except Saturday, Sunday and any day which shall be a federal legal holiday or a day on which banking institutions in the State of New York or the Commonwealth of Virginia are authorized or required by
law or other governmental action to close. 
  
 “CLOSING
DATE” has the meaning set forth in the Securities Purchase Agreement. 
  
 “EXCHANGE ACT” means the Securities Exchange Act of 1934, as amended, and all of the rules and regulations promulgated thereunder. 
  
 “PERSON” (whether or not capitalized) means an individual, partnership, limited liability company, corporation,
association, trust, joint venture, unincorporated organization, and any government, governmental department or agency or political subdivision thereof. 
  
 “PROSPECTUS” means the prospectus included in any Registration Statement (including, without limitation, a prospectus that includes any
information previously omitted from a prospectus filed as part of an effective Registration Statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the
terms of 

 the offering of any portion of the Registrable Shares covered by such Registration Statement, and all other amendments
and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference in such Prospectus. 
  
 “REGISTRABLE SHARES” means, at the relevant time of reference thereto, the Shares and the Warrant Shares and any other shares of Common Stock
held by an Investor (including any shares of capital stock that may be issued in respect thereof pursuant to a stock split, stock dividend, recombination, reclassification or the like), PROVIDED, HOWEVER, that the term “Registrable Shares”
shall not include any of the Shares or Warrant Shares that are actually sold pursuant to a registration statement that has been declared effective under the Securities Act by the SEC. 
  
 “REGISTRATION STATEMENT” means the Mandatory Registration Statement and any additional registration statements
contemplated by this Agreement, including (in each case) the Prospectus, amendments and supplements to such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material incorporated by
reference in such registration statement or Prospectus. 
  
 “RULE 144” means Rule 144 promulgated under the Securities Act and any successor or substitute rule, law or provision. 
  
 “SEC” means the Securities and Exchange Commission. 
  
 “SECURITIES ACT” means the Securities Act of 1933, as amended, and all of the rules and regulations promulgated thereunder. 
  
 “WARRANTS” means the warrants to purchase Common Stock, dated as of
the date hereof, issued by the Company to the Investors pursuant to the Securities Purchase Agreement, a form of which is attached hereto as Exhibit A. 
  
 “WARRANT SHARES” means the shares of Common Stock issued or issuable upon the exercise of the Warrants. 
  
 2. MANDATORY REGISTRATION STATEMENT. 
  
 (a) As promptly as possible after the Closing Date, and in any event prior
to the date that is sixty (60) days following the Closing Date (the “MANDATORY FILING DATE”), the Company shall prepare and file with the SEC a Registration Statement on Form S-1 or, if eligible, on Form S-3 for the purpose of
registering under the Securities Act all of the Registrable Shares for resale by, and for the account of, each Investor as an initial selling stockholder thereunder (the “MANDATORY REGISTRATION STATEMENT”). The Mandatory
Registration Statement shall permit the Investors to offer and sell, on a delayed or continuous basis pursuant to Rule 415 under the Securities Act, any or all of the Registrable Shares. The Company agrees to use its best efforts to cause the
Mandatory Registration Statement to be declared effective as soon as possible but in no event later than the date that is one hundred eighty (180) days following the Closing Date (the “MANDATORY EFFECTIVE DATE”) (including filing
with the SEC, within three (3) Business Days of the date that the Company is notified (orally or in writing, whichever is earlier) by the SEC that the Mandatory Registration Statement will not be “reviewed” or will not be subject to
further review, a request for acceleration of effectiveness in accordance with Rule 461 promulgated under the Securities Act (an “ACCELERATION REQUEST”), which request shall request an effective date that is within three (3)
Business Days of the date of such request); provided that the Company agrees to use its best efforts to cause the Mandatory Registration Statement to be declared effective no later than the date that is seventy five (75) days after the Closing

  

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 Date in the event the Mandatory Registration Statement will not be “reviewed”. The Company shall notify each
Investor in writing promptly (and in any event within one (1) Business Day) after the Company’s submission of an Acceleration Request to the SEC. The Company shall be required to keep the Mandatory Registration Statement continuously effective
(including through the filing of any required post-effective amendments) until the earlier to occur of (i) the date after which all of the Registrable Shares registered thereunder shall have been sold, (ii) the third (3rd) anniversary of the Closing
Date and (iii) the date on which the Investor may sell all Registrable Shares then held by the Investor without restriction under Rule 144(k) of the Securities Act; provided, that in any case such date shall be extended by the amount of time of any
Suspension Period (as defined below) (the “EFFECTIVENESS PERIOD”). Thereafter, the Company shall be entitled to withdraw the Mandatory Registration Statement and, upon such withdrawal, the Investors shall have no further right to
offer or sell any of the Registrable Shares pursuant to the Mandatory Registration Statement (or any prospectus relating thereto). 
  
 (b) Notwithstanding anything in this Section 2 to the contrary, if the Company shall furnish to the Investors a certificate signed by the President or
Chief Executive Officer of the Company stating that the Board has made the good faith determination upon the advice of counsel (i) that the continued use by the Investors of the Mandatory Registration Statement for purposes of effecting offers or
sales of Registrable Shares pursuant hereto would require, under the Securities Act and the rules and regulations promulgated thereunder, premature disclosure in the Mandatory Registration Statement (or the Prospectus relating thereto) of material,
nonpublic information concerning the Company, its business or prospects or any proposed material transaction involving the Company, (ii) that such premature disclosure would be materially adverse to the Company, its business or prospects or any such
proposed material transaction and (iii) that it is therefore essential to suspend the use by the Investors of, or the filing of, the Mandatory Registration Statement (and the Prospectus relating thereto), then the right of the Investors to use the
Mandatory Registration Statement (and the Prospectus relating thereto) for purposes of effecting offers or sales of Registrable Shares pursuant thereto or the filing of the Mandatory Registration Statement shall be suspended for a period (the
“SUSPENSION PERIOD”) not greater than thirty (30) consecutive Business Days and not more than sixty (60) Business Days during any consecutive twelve (12) month period. During the Suspension Period, the Investors shall not offer or
sell any Registrable Shares pursuant to or in reliance upon the Mandatory Registration Statement (or the Prospectus relating thereto). The Company agrees that, as promptly as possible, but in no event later than one (1) Business Day, after the
consummation, abandonment or public disclosure of the event or transaction that caused the Company to suspend the use of or delay the filing of the Mandatory Registration Statement (and the Prospectus relating thereto) pursuant to this Section 2(b),
the Company will as promptly as possible lift any suspension, provide the Investors with revised Prospectuses, if required, and will notify the Investors of their ability to effect offers or sales of Registrable Shares pursuant to or in reliance
upon the Mandatory Registration Statement. 
  
 (c) It shall be a
condition precedent to the obligations of the Company to register Registrable Shares for the account of an Investor pursuant to this Section 2, Section 2A or Section 3 that such Investor furnish to the Company such information regarding itself, the
Registrable Shares held by it, and the method of disposition of such securities as shall be reasonably required to effect the registration of such Investor’s Registrable Shares. 
  
 (d) Notwithstanding anything in this Agreement to the contrary, the Investors’ sole remedy for the failure of the
Company to file the Mandatory Registration Statement as promptly as possible after the date hereof, and in any event on or prior to the Mandatory Filing Date, or for the failure of the Company to make effective the Mandatory Registration Statement
on or prior to the Mandatory Effective Date, shall be the vesting of the Warrants as provided for therein. 
  

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 2A. MANDATORY REGISTRATION RIGHTS. 
  
 (a) If, at any time during the Effectiveness Period, (i) any Registrable Shares are not able to be resold pursuant to an
effective Registration Statement and (ii) the Company shall receive from any Investor (including for this purpose its Affiliates) who holds (or who together hold) at least twenty-five percent (25%) of the then outstanding Registrable Shares a
written request or requests (a “DEMAND NOTICE”) that the Company effect a registration (a “DEMAND REGISTRATION “), with respect to all or a part of the Registrable Shares owned by such Investor(s), then the Company will promptly
(and in any event within three (3) Business Days) give written notice of the proposed registration and the Investor’s or Investors’ request therefor to all other Investors, and use best efforts to effect such registration, as soon as
practicable and in any event within thirty (30) days, of all or such portion of such Investors’ Registrable Shares as are specified in such request, together with all or such portion of the Registrable Shares of any other Investor or Investors
joining in such request as are specified in a written request given by such other Investor or Investors within ten (10) Business Days after receipt of such written notice from the Company; provided, however, that the Company may temporarily suspend
the use of such registration statement for the same reasons and on the same terms as described in Section 2(b) above. The Company shall not be required to effect more than three (3) registrations pursuant to this Section 2A(a) during any consecutive
twelve (12) month period. 
  
 3. “PIGGYBACK
REGISTRATION”. 
  
 (a) If at any time during the
Effectiveness Period any Registrable Shares are not able to be resold pursuant to an effective Registration Statement, and the Company proposes to register any of its Common Stock under the Securities Act, whether as a result of an offering for its
own account or the account of others (but excluding any registrations to be effected on Forms S-4 or S-8 or other applicable successor Forms), the Company shall, each such time, give to the Investors twenty (20) days’ prior written notice of
its intent to do so, and such notice shall describe the proposed registration and shall offer such Investors the opportunity to register such number of Registrable Shares as each such Investor may request. Upon the written request of any Investor
given to the Company within fifteen (15) days after the receipt of any such notice by the Company, the Company shall include in such Registration Statement all or part of the Registrable Shares of such Investor, to the extent requested to be
registered. 
  
 (b) If a registration pursuant to Section 3 hereof
involves an underwritten offering and the managing underwriter shall advise the Company in writing that, in its opinion, the number of shares of Common Stock requested by the Investors to be included in such registration is likely to affect
materially and adversely the success of the offering or the price that would be received for any shares of Common Stock offered in such offering, then, notwithstanding anything in this Section 3 to the contrary, the Company shall only be required to
include in such registration, to the extent of the number of shares of Common Stock which the Company is so advised can be sold in such offering, (i) first, the number of shares of Common Stock requested to be included in such registration for the
account of any stockholders of the Company (including the Investors), pro rata among such stockholders on the basis of the number of shares of Common Stock (including Warrant Shares) that each of them has requested to be included in such
registration, and (ii) second, any shares of Common Stock proposed to be included in such registration for the account of the Company. 
  
 (c) In connection with any offering involving an underwriting of shares, the Company shall not be required under this Section 3 or otherwise to include
the Registrable Shares of any Investor therein unless such Investor accepts and agrees to the terms of the underwriting, which shall be reasonable and customary, as agreed upon between the Company and the underwriters selected by the Company (which
underwriters shall be reasonably acceptable to holders of a majority of the then outstanding Registrable Shares). 
  

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 4. OBLIGATIONS OF THE COMPANY. In connection with the Company’s registration obligations hereunder,
the Company shall: 
  
 (a) as expeditiously as practicable (i)
furnish to each Investor copies of all documents filed with the SEC within a reasonable period prior to their being filed with the SEC (and provide the Investors with a reasonable opportunity to review and comment on such documents), (ii) use its
best efforts to cause its officers and directors, counsel and certified public accountants to respond to such inquiries as shall be necessary, in the reasonable opinion of such Investor, to conduct a reasonable investigation within the meaning of
the Securities Act, and (iii) notify the Investors of any stop order issued or threatened by the SEC and use best efforts to prevent the entry of such stop order or to remove it if entered. 
  
 (b) as expeditiously as practicable (i) prepare and file with the SEC such
amendments and supplements, including post-effective amendments, to each Registration Statement and the Prospectus used in connection therewith as may be necessary to comply with the Securities Act and to keep the Registration Statement continuously
effective as required herein, and prepare and file with the SEC such additional Registration Statements as necessary to register for resale under the Securities Act all of the Registrable Shares (including naming any permitted transferees of
Registrable Shares as selling stockholders in such Registration Statement); (ii) cause any related Prospectus to be amended or supplemented by any required Prospectus supplement, and as so supplemented or amended to be filed pursuant to Rule 424;
(iii) respond as promptly as possible to any comments received from the SEC with respect to each Registration Statement or any amendment thereto, or any document filed with the SEC that would suspend the effectiveness of the Registration Statement,
and as promptly as reasonably possible provide the Investors with true and complete copies of all correspondence from and to the SEC relating to the Registration Statement (other than those portions of any correspondence containing material
nonpublic information); and (iv) comply with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all Registrable Shares covered by such Registration Statement as so amended or in such Prospectus as so
supplemented. 
  
 (c) Notify the Investors and Investors’
Counsel as promptly as reasonably possible: 
  
 (i) when the SEC
notifies the Company whether there will be a “review” of a Registration Statement and whenever the SEC comments in writing on such Registration Statement; and 
  
 (ii) when a Registration Statement, or any post-effective amendment or supplement thereto, has become effective, and after
the effectiveness thereof: (A) of any request by the SEC or any other federal or state governmental authority for amendments or supplements to the Registration Statement or Prospectus or for additional information; (B) of the issuance by the SEC or
any state securities commission of any stop order suspending the effectiveness of the Registration Statement covering any or all of the Registrable Shares or the initiation of any proceedings for that purpose; and (C) of the receipt by the Company
of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Shares for sale in any jurisdiction, or the initiation or threatening of any proceeding for such purpose. Without
limitation of any remedies to which the Investors may be entitled under this Agreement, if any of the events described in Section 4(c)(i)(A), 4(c)(i)(B), and 4(c)(i)(C) occur, the Company shall use its best efforts to respond to and correct the
event. 
  
 (d) Immediately notify the Investors and their counsel
of the happening of any event as a result of which the Prospectus included in or relating to a Registration Statement contains an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading; and,
thereafter, the Company will as promptly as possible prepare (and, when completed, promptly give written notice to each Investor) a supplement or amendment to such Prospectus so that, as thereafter 
  

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 delivered to the purchasers of such Registrable Shares, such Prospectus will not contain an untrue statement of a
material fact or omit to state any fact necessary to make the statements therein not misleading; provided that upon receipt of such notification from the Company, the Investors will not offer or sell Registrable Shares pursuant to such Prospectus
until the Company has notified the Investors that it has prepared a supplement or amendment to such Prospectus and delivered copies of such supplement or amendment to the Investors (it being understood and agreed by the Company that the foregoing
proviso shall in no way diminish or otherwise impair the Company’s obligation to as promptly as possible prepare a Prospectus amendment or supplement as above provided in this Section 4(d) and deliver copies of same as provided in Section 4(h)
hereof), and it being further understood that, in the case of the Mandatory Registration Statement, any such period during which the Investors are restricted from offering or selling Registrable Shares shall constitute a Suspension Period.

  
 (e) Upon the occurrence of any event described in Section 4(d)
hereof, as promptly as possible, prepare a supplement or amendment, including a post-effective amendment, to the Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by
reference, and file any other required document so that, as thereafter delivered, neither the Registration Statement nor such Prospectus will contain an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein, in light of the circumstances under which they are made, not misleading. 
  
 (f) Use its best efforts to avoid the issuance of or, if issued, obtain the withdrawal of, (i) any order suspending the effectiveness of any Registration
Statement or (ii) any suspension of the qualification (or exemption from qualification) of any of the Registrable Shares for sale in any jurisdiction, as promptly as possible (it being understood that, in the case of the Mandatory Registration
Statement, any period during which the effectiveness of the Mandatory Registration Statement or the qualification of any Registrable Shares is suspended shall constitute a Suspension Period). 
  
 (g) Furnish to the Investors and their counsel, without charge, at least one
conformed copy of each Registration Statement and each amendment thereto, and all exhibits to the extent requested by such Investor or their counsel (including those previously furnished or incorporated by reference) as promptly as possible after
the filing of such documents with the SEC. 
  
 (h) As promptly as
possible furnish to each selling Investor, without charge, such number of copies of a Prospectus, including a preliminary Prospectus, in conformity with the requirements of the Securities Act, and such other documents (including, without limitation,
Prospectus amendments and supplements) as each such selling Investor may reasonably request in order to facilitate the disposition of the Registrable Shares covered by such Prospectus and any amendment or supplement thereto. The Company hereby
consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling Investors in connection with the offering and sale of the Registrable Shares covered by such Prospectus and any amendment or supplement thereto to
the extent permitted by federal and state securities laws and regulations. 
  
 (i) Use its best efforts to register and qualify (or obtain an exemption from such registration and qualification) the Registrable Shares under such other securities or blue sky laws of the states of residence of each
Investor and such other jurisdictions as each Investor shall reasonably request, to keep such registration or qualification (or exemption therefrom) effective during the periods each Registration Statement is effective, and do any and all other acts
or things which may be reasonably necessary or advisable to enable each Investor to consummate the public sale or other disposition of Registrable Shares in such jurisdictions, provided that the Company shall not be required in connection therewith
or as a condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions where it is not then qualified or subject to process. 
  

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 (j) Cooperate with the Investors to facilitate the timely preparation and delivery of certificates
representing the Registrable Shares to be delivered to a transferee pursuant to a Registration Statement, which certificates shall be free, to the extent permitted by the Securities Purchase Agreement and applicable law, of all restrictive legends,
and to enable such Registrable Shares to be in such denominations and registered in such names as such Investors may request. 
  
 (k) Cooperate with any reasonable due diligence investigation undertaken by the Investors, any managing underwriter participating in any disposition
pursuant to a Registration Statement, Investors’ Counsel and any attorney, accountant or other agent retained by Investors or any managing underwriter, in connection with the sale of the Registrable Shares, including, without limitation, making
available any documents and information; provided, however, that the Company will not deliver or make available to any Investor material, nonpublic information unless such Investor specifically requests and consents in advance in writing to receive
such material, nonpublic information and, if requested by the Company, such Investor agrees in writing to treat such information as confidential. 
  
 (l) At the request of an Affiliate, the Company shall amend any Registration Statement to include such Affiliate as a selling stockholder in such
Registration Statement. 
  
 (m) Comply with all applicable rules
and regulations of the SEC in all material respects. 
  
 (n) Make
available for inspection by each Investor, any underwriter participating in any disposition pursuant to any registration hereunder, and any attorney, accountant or other agent retained by such Investor or any such underwriter (collectively, the
“INSPECTORS”), all financial and other records, pertinent corporate documents and properties of the Company and any of its subsidiaries (collectively, the “RECORDS”) as shall be reasonably necessary to enable them
to exercise their due diligence responsibility, and cause the officers, directors and employees of the Company to supply all information reasonably requested by any such Inspector in connection with any registration hereunder, provided,
however, that (i) in connection with any such inspection, any such Inspectors shall cooperate to the extent reasonably practicable to minimize any disruption to the operation by the Company of its business and shall comply with all Company site
safety rules, (ii) Records and information obtained hereunder shall be used by such Inspectors only to exercise their due diligence responsibility and (iii) Records or information furnished or made available hereunder shall be kept confidential and
shall not be disclosed by such Investor, underwriter or Inspectors unless (A) the disclosing party advises the other party that the disclosure of such Records or information is necessary to avoid or correct a misstatement or omission in a
Registration Statement or is otherwise required by law, (B) the release of such Records or information is ordered pursuant to a subpoena or other order from a court or governmental authority of competent jurisdiction, or (C) such Records or
information otherwise become generally available to the public other than through disclosure by such Investor, underwriter or Inspector in breach hereof or by any Person in breach of any other confidentiality arrangement. 
  
 (o) Use all reasonable efforts to furnish to each Investor and to the
managing underwriter, if any, a signed counterpart, addressed to such Investor and the managing underwriter, if any, of (i) an opinion or opinions of counsel to the Company and (ii) a comfort letter or comfort letters from the Company’s
independent public accountants pursuant to Statement on Auditing Standards No. 72, each in customary form and covering such matters of the type customarily covered by opinions or comfort letters, as the case may be, as each such Investor and the
managing underwriter, if any, reasonably requests. 
  
 (p) In
connection with any registration hereunder, provide officers’ certificates and other customary closing documents. 
  

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 (q) Cooperate with each seller of Registrable Shares, Investor and any underwriter in the disposition of
such Registrable Shares and cooperate with underwriters’ counsel, if any, in connection with any filings required to be made with the National Association of Securities Dealers, Inc. 
  
 (r) With respect to an underwritten offering of Registrable Shares, use its reasonable best efforts to cause all such
Registrable Shares to be listed on each securities exchange on which similar securities issued by the Company are then listed. 
  
 5. EXPENSES OF REGISTRATION. The Company shall pay for all expenses incurred in connection with a registration pursuant to this Agreement and compliance
with Section 4 of this Agreement, including without limitation (i) all registration, filing and qualification fees and expenses (including without limitation those related to filings with the SEC, The NASDAQ Stock Market, or any national securities
exchange upon which the Company’s securities are listed and in connection with applicable state securities or blue sky laws), (ii) all printing expenses, (iii) all messenger, telephone and delivery expenses incurred by the Company, (iv) all
reasonable fees and disbursements of counsel for the Company and Investors’ Counsel, and (v) all reasonable fees and expenses of all other Persons retained by the Company in connection with the consummation of the transactions contemplated by
this Agreement. 
  
 6. DELAY OF REGISTRATION. Subject to Section
11(d) hereof, the Investors and the Company (other than with respect to Section 4(d) hereof) shall not take any action to restrain, enjoin or otherwise delay any registration as the result of any controversy which might arise with respect to the
interpretation or implementation of this Agreement. 
  
 7.
INDEMNIFICATION. In the event that any Registrable Shares of the Investors are included in a Registration Statement pursuant to this Agreement: 
  
 (a) To the fullest extent permitted by law, the Company will indemnify and hold harmless each Investor and each officer, director, fiduciary, employee,
member, agent, investment advisor, (or other equity holder), general partner and limited partner (and affiliates thereof) of such Investor, each broker, underwriter or other person acting on behalf of such Investor and each person, if any, who
controls such Investor within the meaning of the Securities Act, against any expenses, losses, claims, damages, actions or liabilities, joint or several, (the “LOSSES”) to which they may become subject under the Securities Act or
otherwise, insofar as such Losses (or actions in respect thereof) arise out of or relate to any untrue or alleged untrue statement of any material fact contained in the Registration Statement, or arise out of or relate to the omission or alleged
omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading, or any violation by the Company of the Securities Act or state securities or blue sky laws applicable to the
Company; and, subject to the provisions of Section 7(c) hereof, the Company will reimburse on demand such Investor, such broker or other person acting on behalf of such Investor and such officer, director, fiduciary, agent, investment advisor,
employee, member (or other equity holder), general partner, limited partner, affiliate or controlling person for any legal or other expenses reasonably incurred by any of them in connection with investigating or defending any such Loss; provided,
however, that the indemnity agreement contained in this Section 7(a) shall not apply to amounts paid in settlement of any such Losses if such settlement is effected without the consent of the Company (which consent shall not be unreasonably
withheld), nor shall the Company be liable in any such case for any such Loss to the extent that it solely arises out of or is based upon an untrue statement of any material fact contained in the Registration Statement or omission to state therein a
material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent that such untrue statement or alleged untrue statement or omission or alleged omission was made in the Registration
Statement, in reliance upon and in conformity with written information furnished by such Investor expressly for use in connection with such Registration Statement. 
  

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 (b) To the fullest extent permitted by law, each Investor, severally (as to itself) and not jointly, will
indemnify and hold harmless the Company, each of its directors, each of its officers who have signed the Registration Statement, each person, if any, who controls the Company within the meaning of the Securities Act, and all other Investors against
any Losses to which the Company or any such director, officer or controlling person or other Investor may become subject to, under the Securities Act or otherwise, insofar as such Losses (or actions in respect thereto) solely arise out of or are
based upon any untrue statement of any material fact contained in the Registration Statement, or solely arise out of or relate to the omission to state therein a material fact required to be stated therein or necessary to make the statements therein
not misleading, in each case to the extent that such untrue statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement in reliance upon and in conformity with written information furnished by such
Investor expressly for use in connection with such Registration Statement; and, subject to the provisions of Section 7(c) hereof, such Investor will reimburse on demand any legal or other expenses reasonably incurred by the Company or any such
director, officer, controlling person, or other Investor in connection with investigating or defending any such Losses, provided, however, that the maximum aggregate amount of liability of such Investor under this Section 7 shall be limited to the
proceeds (net of underwriting discounts and commissions, if any) actually received by such Investor from the sale of Registrable Shares covered by such Registration Statement; and provided, further, however, that the indemnity agreement contained in
this Section 7(b) or 7(e) shall not apply to amounts paid in settlement of any such Losses if such settlement is effected without the consent of such Investor against which the request for indemnity is being made (which consent shall not be
unreasonably withheld). 
  
 (c) As promptly as possible after
receipt by an indemnified party under this Section 7 of notice of the threat, assertion or commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 7,
notify the indemnifying party in writing of the commencement thereof and the indemnifying party shall have the right to participate in and, to the extent the indemnifying party desires, jointly with any other indemnifying party similarly noticed, to
assume at its expense the defense thereof with counsel mutually satisfactory to the parties; provided, however, that, the failure to notify an indemnifying party promptly of the threat, assertion or commencement of any such action shall not relieve
such indemnifying party of any liability to the indemnified party under this Section 7 except (and only) to the extent that it shall be finally determined by a court of competent jurisdiction (which determination is not subject to appeal or further
review) that such failure shall have proximately and materially adversely prejudiced the indemnifying party. 
  
 (d) If any indemnified party shall have reasonably concluded that there may be one or more legal defenses available to such indemnified party which are
different from or additional to those available to the indemnifying party, or that such claim or litigation involves or could have an effect upon matters beyond the scope of the indemnity agreement provided in this Section 7, the indemnifying party
shall not have the right to assume the defense of such action on behalf of such indemnified party, and such indemnifying party shall reimburse such indemnified party and any person controlling such indemnified party for the fees and expenses of
counsel retained by the indemnified party which are reasonably related to the matters covered by the indemnity agreement provided in this Section 7. Subject to the foregoing, an indemnified party shall have the right to employ separate counsel in
any such action and to participate in the defense thereof but the fees and expenses of such counsel shall not be at the expense of the Company. The indemnifying party shall not be liable for any settlement of any proceeding effected without its
written consent, which consent shall not be unreasonably withheld. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending proceeding in respect of which any indemnified party is
a 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 
  

 -9- 

 (e) If the indemnification provided for in this Section 7 from the indemnifying party is applicable by
its terms but unavailable to an indemnified party hereunder in respect of any Losses, then the indemnifying party, in lieu of indemnifying such indemnified party, shall, subject to the maximum aggregate liability of any Investor as set forth in
Section 7(b), contribute to the amount paid or payable by such indemnified party as a result of such Losses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and indemnified party in connection with the
actions which resulted in such Losses, as well as any other relevant equitable considerations. The relative faults of such indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in
question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, has been made by, or relates to information supplied by, such indemnifying party or indemnified party, and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such action. The amount paid or payable by a party as a result of the Losses referred to above shall be deemed to include, subject to the
limitations set forth in Sections 7(a), 7(b), 7(c) and 7(d), any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding. No Person guilty of fraudulent misrepresentation (within
the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The parties hereto agree that it would not be just and equitable if contribution pursuant
to this Section 7(e) were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. 
  
 (f) The indemnity and contribution agreements contained in this Section 7 are
in addition to any liability that any indemnifying party may have to any indemnified party. 
  
 8. REPORTS UNDER THE EXCHANGE ACT. With a view to making available to the Investors the benefits of Rule 144 and any other rule or regulation of the SEC that may at any time permit the Investors to sell the
Registrable Shares to the public without registration, the Company agrees to use its best efforts to: (i) make and keep public information available, as those terms are understood and defined in Rule 144, (ii) file with the SEC in a timely manner
all reports and other documents required to be filed by an issuer of securities registered under the Securities Act or the Exchange Act; (iii) as long as any Investor owns any Shares or Warrant Shares, to furnish in writing upon an Investor’s
request in writing to the Company a written statement by the Company that it has complied with the reporting requirements of Rule 144 and of the Securities Act and the Exchange Act, and to furnish to such Investor a copy of the most recent annual
and quarterly reports of the Company, and such other reports and documents so filed by the Company as may be reasonably requested in writing to the Company by the Investor in availing such Investor of any rule or regulation of the SEC permitting the
selling of any such Shares and Warrant Shares without registration, and (iv) undertake any additional actions reasonably necessary to maintain the availability of a Registration Statement, including any successor or substitute forms, or the use of
Rule 144. 
  
 9. TRANSFER OF REGISTRATION RIGHTS. Each Investor
may assign or transfer any or all of its rights under this Agreement to any Person to the extent a transfer of the Shares, Warrant Shares or Warrant Shares, as applicable, is permitted under the Securities Purchase Agreement with respect to the
Shares, Warrant Shares or the Warrant, provided such assignee or transferee agrees in writing to be bound by the provisions hereof that apply to such assigning or transferring Investor. Upon any such, and each successive, assignment or transfer to
any permitted assignee or transferee in accordance with the terms of this Section 9, such permitted assignee or transferee shall be deemed to be an “Investor” for all purposes of this Agreement. 
  

 -10- 

 10. ENTIRE AGREEMENT. This Agreement constitutes and contains the entire agreement and understanding of
the parties with respect to the subject matter hereof, and it also supersedes any and all prior negotiations, correspondence, agreements or understandings with respect to the subject matter hereof. 
  
 11. MISCELLANEOUS. 
  
 (a) This Agreement, and any right, term or provision contained herein, may
not be amended, modified or terminated, and no right, term or provision may be waived, except with the written consent of (i) the holders of a majority of the then outstanding Registrable Shares and (ii) the Company; provided that any amendment or
modification that is materially and disproportionately adverse to any particular Investor (as compared to all Investors as a group) shall require the consent of such Investor. 
  
 (b) This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York
without regard to any conflicts of laws concepts which would apply the substantive law of some other jurisdiction. This Agreement shall be binding upon the parties hereto and their respective heirs, personal representatives, successors and permitted
assigns and transferees, provided that the terms and conditions of Section 9 hereof are satisfied. Notwithstanding anything in this Agreement to the contrary, if at any time any Investor (including any successors or assigns) shall cease to own any
Registrable Shares, all of such Investor’s rights under this Agreement shall immediately terminate. 
  
 (c) Any notices, reports or other correspondence (hereinafter collectively referred to as “correspondence”) required or permitted to be given
hereunder shall be sent by postage prepaid first class mail, overnight courier or telecopy, or delivered by hand to the party to whom such correspondence is required or permitted to be given hereunder. The date of giving any notice shall be the date
of its actual receipt. 
  
 All correspondence to the Company shall be addressed as
follows: 
  
 First Avenue Networks, Inc.

 230 Court Square 
 Suite 202 
 Charlottesville, VA 22902 
 Attn: Chief Financial Officer 
  
 with a copy to: 
  
 Ropes & Gray LLP 
 One International Place 
 Boston, MA 02110 
 Attention: Joel F. Freedman 
  
 All correspondence to the Investors shall be addressed pursuant to the contact information set forth on Schedule I attached hereto. 
  
 Any entity may change the address to which correspondence to it is to be addressed by
notification as provided for herein. 
  
 (d) The parties
acknowledge and agree that in the event of any breach of this Agreement, remedies at law will be inadequate, and each of the parties hereto shall be entitled to specific 
  

 -11- 

 performance of the obligations of the other parties hereto and to such appropriate injunctive relief as may be granted by
a court of competent jurisdiction. All remedies, either under this Agreement or by law or otherwise afforded to any of the parties, shall be cumulative and not alternative. 
  
 (e) This Agreement may be executed in a number of counterparts. All such counterparts together shall constitute one
Agreement, and shall be binding on all the parties hereto notwithstanding that all such parties have not signed the same counterpart. The parties hereto confirm that any facsimile copy of another party’s executed counterpart of this Agreement
(or its signature page thereof) will be deemed to be an executed original thereof. 
  
 (f) Except as contemplated in Section 9 hereof, this Agreement is intended solely for the benefit of the parties hereto and is not intended to confer any benefits upon, or create any rights in favor of, any Person
(including, without limitation, any stockholder or debt holder of the Company) other than the parties hereto. 
  
 (g) If any provision of this Agreement is invalid, illegal or unenforceable, such provision shall be ineffective to the extent, but only to the extent of,
such invalidity, illegality or unenforceability, without invalidating the remainder of such provision or the remaining provisions of this Agreement, unless such a construction would be unreasonable. 
  
 (h) This Agreement shall be binding upon, and inure to the benefit of, the
parties hereto and their permitted successors and assigns. The Company may not assign this Agreement or its rights and obligations hereunder without the consent of holders of a majority of the then outstanding Registrable Shares. 
  
 [Signature Pages Follow] 
  

 -12- 

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

					
	 	 	 FIRST AVENUE NETWORKS, INC.

			
	 	 	 By:
	 	 /s/ Dean M. Johnson

	 	 	 Name:
	 	 Dean M. Johnson

	 	 	 Title:
	 	 President and CEO

 PURCHASERS: 
  

			
	Xerion Partners II Master Fund Limited
		
	 By:
	 	 /s/ John Hale

	 Name:
	 	 John Hale

	 Title:
	 	 
	
	Ahab Partners, L.P.
		
	 By:
	 	 /s/ Jonathan Gallen

	 Name:
	 	 Jonathan Gallen

	 Title:
	 	 Managing Member, Pequod, LLC

	 	 	 General Partner, Ahab Partners, L.P.

	
	Ahab International Ltd.
		
	 By:
	 	 /s/ Jonathan Gallen

	 Name:
	 	 Jonathan Gallen

	 Title:
	 	 President, Ahab Capital Management, Inc.

	 	 	 Investment Advisor, Ahab International, Ltd.

	
	LC Capital Master Fund, Ltd.
		
	 By:
	 	 /s/ Richard F. Conway

	 Name:
	 	 Richard F. Conway

	 Title:
	 	 Director

	
	Stanfield Offshore Leveraged Assets Ltd.
		
	 By:
	 	 /s/ Chris Pucillo

	 Name:
	 	 Chris Pucillo

	 Title:
	 	 Portfolio Manager

			
	Fleet Maritime, Inc.
	 By:
	 	 OZ Management, L.L.C.,

	 	 	 As Investment Manager

		
	 By:
	 	 /s/ Joel Frank

	 Name:
	 	 Joel Frank

	 Title:
	 	 Chief Financial Officer

	
	OZ Master Fund, Ltd
	By:	 	OZ Management, L.L.C.
		
	 By:
	 	 /s/ Joel Frank

	 Name:
	 	 Joel Frank

	 Title:
	 	 Chief Financial Officer

	
	Milfam I, L.P.
		
	 By:
	 	 /s/ Lloyd I. Miller

	 Name:
	 	 Lloyd I. Miller

	 Title:
	 	 General Partner

	
	Harbert Event Driven Master Fund, Ltd
	 By:
	 	 The Event Driven Offshore Manager, LLC

		
	 By:
	 	 /s/ Tony Reinee

	 Name:
	 	 Tony Reinee

	 Title:
	 	 Vice President

	
	Ore Hill Hub Fund, Ltd.
		
	 By:
	 	 /s/ Frederick Wahl

	 Name:
	 	 Frederick Wahl

	 Title:
	 	 

			
	Loeb Partners Corporation
		
	 By:
	 	 /s/ Bob Grubin

	 Name:
	 	 Bob Grubin

	 Title:
	 	 
	
	Millennium Partners, L.P.
	 By:
	 	 Millennium Management, L.L.C.

		
	 By:
	 	 /s/ Terry Feeney

	 Name:
	 	 Terry Feeney

	 Title:
	 	 Chief Operating Officer

	
	Tracer Capital Partners L.P.
		
	 By:
	 	 /s/ Riley McCormack

	 Name:
	 	 Riley McCormack

	 Title:
	 	 Managing Member of the

	 	 	 Investment Manager

	
	Tracer Capital Partners QP L.P.
		
	 By:
	 	 /s/ Riley McCormack

	 Name:
	 	 Riley McCormack

	 Title:
	 	 Managing Member of the

	 	 	 Investment Manager

	
	Tracer Capital Offshore Fund Ltd.
		
	 By:
	 	 /s/ Riley McCormack

	 Name:
	 	 Riley McCormack

	 Title:
	 	 Managing Member of the

	 	 	 Investment Manager

			
	Greywolf Capital Partners II LP
		
	 By:
	 	 /s/ William Troy

	 Name:
	 	 William Troy

	 Title:
	 	 Partner

	
	Greywolf Capital Overseas Fund
		
	 By:
	 	 /s/ William Troy

	 Name:
	 	 William Troy

	 Title:
	 	 Partner

	
	Schottenfeld Qualified Associates, LP
		
	 By:
	 	 /s/ Richard Schottenfeld

	 Name:
	 	 Richard Schottenfeld

	 Title:
	 	 Managing Member

	
	Rajendra Singh and Neera Singh JTWROS
		
	 By:
	 	 /s/ Rajendra Singh and Neera Singh

	 Name:
	 	 Rajendra Singh and Neera Singh

	 Title:
	 	 
	
	Strome Hedgecap Ltd.
		
	 By:
	 	 /s/ Mark Strome

	 Name:
	 	 Mark Strome

	 Title:
	 	 Director

			
	Witches Rock Portfolio Ltd.
	 By:
	 	 Tudor Investment Corporation,

	 	 	 Investment Advisor

		
	 By:
	 	 /s/ William T. Flaherty

	 Name:
	 	 William T. Flaherty

	 Title:
	 	 Managing Director

	
	The Tudor BVI Global Portfolio Ltd.
	 By:
	 	 Tudor Investment Corporation,

	 	 	 Trading Advisor

		
	 By:
	 	 /s/ William T. Flaherty

	 Name:
	 	 William T. Flaherty

	 Title:
	 	 Managing Director

	
	Tudor Proprietary Trading, L.L.C.
		
	 By:
	 	 /s/ William T. Flaherty

	 Name:
	 	 William T. Flaherty

	 Title:
	 	 Managing Director

	
	Singer Children’s Management Trust
		
	 By:
	 	 /s/ Karen Singer

	 Name:
	 	 Karen Singer

	 Title:
	 	 Trustee

	
	The IBS Turnaround Fund, L.P.
		
	 By:
	 	 /s/ David Taft

	 Name:
	 	 David Taft

	 Title:
	 	 President, IBS Capital Corp.,

	 	 	 Its General Partner

			
	The IBS Opportunity Fund, Ltd.
		
	 By:
	 	 /s/ David Taft

	 Name:
	 	 David Taft

	 Title:
	 	 Manager

	
	Harbert Distressed Investment Master Fund, Ltd.
	 By:
	 	Harbert Distressed Investment Offshore Manager, LLC
		
	 By:
	 	 /s/ Philip A. Falcone

	 Name:
	 	 Philip A. Falcone

	 Title:
	 	 Vice President

	
	Cypress Management Partnership
		
	 By:
	 	 /s/ Jonathan Marcus

	 Name:
	 	 Jonathan Marcus

	 Title:
	 	 Authorized Signatory

	
	George Haywood IRA Rollover
		
	 By:
	 	 /s/ George W. Haywood

	 Name:
	 	 George W. Haywood

	 Title:
	 	 
	
	George W. Haywood
	
	 /s/ George W. Haywood

			
	Cheryl J. Haywood
	
	 /s/ Cheryl J. Haywood

	
	John Colton
	
	 /s/ John L. Colton

	
	Bradley S. Farber
	
	 /s/ Bradley S. Farber

	
	James M. Deutsch
	
	 /s/ James M. Deutsch

	
	Twin Beeches Foundation
	
	 /s/ John L. Colton

	 Name:
	 	 John L. Colton

	 Title:
	 	 
	
	James A. Schwartz
	
	 /s/ James Schwartz

			
	Redwood Master Fund Ltd.
		
	 By:
	 	 /s/ Jonathan Kolatch

	 Name:
	 	 Jonathan Kolatch

	 Title:
	 	 Director

 Schedule I 
  
 List of Investors 

 SCHEDULE 1 
  
 LIST OF PURCHASERS 
  

							
	 Name and Address of
 Purchaser

	  	Number of
Shares of
Common
Stock

	  	Number of
Warrants

	  	Total Purchase
Price

	 Ahab International, Ltd.
 c/o Ahab Capital Management, Inc.
 299 Park Avenue
 21st Floor
 New York, NY 10171
	  	350,000	  	52,500	  	2,537,500.00
				
	 Ahab Partners, L.P.
 299 Park Avenue
 21st Floor
 New York, NY 10171
	  	250,000	  	37,500	  	1,812,500.00
				
	 Bradley S. Farber
 228 West 71st Street, Apt 12H
 New York, NY 10023
	  	30,000	  	4,500	  	217,500.00
				
	 Cheryl J. Haywood
 c/o Lehman Brothers
 399 Park Ave., 6th Floor
 New York, NY 10022
 Attn: Michael Arpaia
	  	270,000	  	40,500	  	1,957,500.00
				
	 Cypress Management Partnership
 100 Pine Street, Suite 2700
 San Francisco, Ca 94111
	  	250,000	  	37,500	  	1,812,500.00
				
	 Fleet Maritime, Inc.
 c/o OZ Management, L.L.C.
 9 West 57th Street, 39th Floor
 New York, NY
10019
	  	16,100	  	2,415	  	116,725.00
				
	 George W. Haywood
 Tejas Securities Group, Inc.
 2700 Via Fortuna
 Suite 400
 Austin, Texas 78746
 Attn: Brandy Samaniego
	  	130,000	  	19,500	  	942,500.00

  

 1 

							
	 Name and Address of
 Purchaser

	  	Number of
Shares of
Common
Stock

	  	Number of
Warrants

	  	Total Purchase
Price

	 George Haywood IRA Rollover
 Tejas Securities Group, Inc.
 2700 Via Fortuna
 Suite 400
 Austin, Texas 78746
 Attn: Brandy Samaniego
	  	300,000	  	45,000	  	2,175,000.00
				
	 Greywolf Capital Overseas Fund
 411 West Putnam Avenue
 Suite 265
 Greenwich, CT 06830
 Attn: Cevdet Samikoglu
	  	800,000	  	120,000	  	5,800,000.00
				
	 Greywolf Capital Partners II LP
 411 West Putnam Avenue
 Suite 265
 Greenwich, CT 06830
 Attn: Cevdet Samikoglu
	  	200,000	  	30,000	  	1,450,000.00
				
	 Harbert Distressed
 Investment Master Fund, Ltd.
 c/o International Fund Services (Ireland) Limited
 Third Floor, Bishop’s Square
 Redmond’s Hill
 Dublin 2, Ireland
 Attn: Phil Falcone
	  	500,000	  	75,000	  	3,625,000.00
				
	 Harbert Event Driven Master Fund, Ltd.
 c/o International Fund Services (Ireland) Limited
 Third Floor, Bishop’s Square
 Redmond’s Hill
 Dublin 2, Ireland
 Attn: Tony Reiner
	  	125,000	  	18,750	  	906,250.00
				
	 James A. Schwartz
 88 Hickory Court
 Tenafly, NJ 07670
	  	3,000	  	450	  	21,750.00
				
	 James M. Deutsch
 50 Murray Street, #1912
 New York, NY 10007
	  	7,000	  	1,050	  	50,750.00

  

 2 

							
	 Name and Address of
 Purchaser

	  	Number of
Shares of
Common
Stock

	  	Number of
Warrants

	  	Total Purchase
Price

	 John L. Colton
 98 Beechwood Road
 Summit, NJ 07901
	  	205,000	  	30,750	  	1,486,250.00
				
	 LC Capital Master Fund, Ltd.
 c/o Lampe, Conway & Co.
 680 Fifth Avenue, Suite 1202
 New York, NY 10019
 Attn: Eirc Schaeffer
	  	1,000,000	  	150,000	  	7,250,000.00
				
	 Loeb Partners Corporation
 61 Broadway
 Suite 2400
 New York, NY 10006
 Attn: Robert Grubin
	  	200,000	  	30,000	  	1,450,000.00
				
	 Milfam I, L.P.
 c/o Lloyd I. Miller
 4550 Gordon Drive
 Naples, FL 34102
	  	150,000	  	22,500	  	1,087,500.00
				
	 Millennium Partners, L.P.
 c/o Millenium Management, L.L.C.
 666 Fifth Avenue, 8th Floor
 New York, NY 10103
 Attn: Ted Wachtell, Brian Daly
	  	1,000,000	  	150,000	  	7,250,000.00
				
	 Ore Hill Hub Fund, Ltd.
 444 Madison Avenue, 12th Floor
 New York, NY 10022
 Attn: Johannes Homan
	  	650,000	  	97,500	  	4,712,500.00
				
	 OZ Master Fund, Ltd.
 c/o OZ Management, L.L.C.
 9 West 57th Street, 39th Floor
 New York, NY
10019
	  	983,900	  	147,585	  	7,133,275.00
				
	 Rajendra Singh and Neera Singh JTWROS
 201 North Union Street,
 Suite 360
 Alexandria, VA 22314
	  	250,000	  	37,500	  	1,812,500.00
				
	 Redwood Master Fund Ltd.
 910 Sylvan Avenue
 Englewood Cliffs, NJ 08632
 Attn: Ara Cohen
	  	325,000	  	48,750	  	2,356,250.00

  

 3 

							
	 Name and Address of
 Purchaser

	  	Number of
Shares of
Common
Stock

	  	Number of
Warrants

	  	Total Purchase
Price

	 Schottenfeld Qualified Associates, LP
 800 Third Avenue, 10th Floor
 New York, NY 10022
 Attn: Rich Schottenfeld
	  	70,000	  	10,500	  	507,500.00
				
	 Singer Children’s Management Trust
 c/o Romulus Holdings, Inc.
 560 Sylvan Avenue
 Englewood Cliffs, NJ 07632
 Attn: Gary Singer
	  	500,000	  	75,000	  	3,625,000.00
				
	 Stanfield Offshore Leveraged Assets Ltd.
 c/o Stanfield Capital Partners LLC
 430 Park Avenue
 New York, NY 10022
	  	1,750,000	  	262,500	  	12,687,500.00
				
	 Strome Hedgecap Ltd.
 c/o Strome Investment Management
 100 Wilshire Blvd, Suite 1500
 Santa Monica, CA 90401
	  	250,000	  	37,500	  	1,812.500.00
				
	 The IBS Opportunity Fund, Ltd.
 c/o IBS Capital Corporation
 Two International Place, 24th Floor
 Boston, MA 02110
 Attn: Dave Taft
	  	85,000	  	12,750	  	616,250.00
				
	 The IBS Turnaround Fund, L.P.
 c/o IBS Capital Corporation
 Two International Place, 24th Floor
 Boston, MA 02110
 Attn: Dave Taft
	  	415,000	  	63,250	  	3,008,750.00

  

 4 

							
	 Name and Address of
 Purchaser

	  	Number of
Shares of
Common
Stock

	  	Number of
Warrants

	  	Total Purchase
Price

	 The Tudor BVI Portfolio Ltd.
 c/o Tudor Investment Corporation
 50 Rowes Wharf
 6th Floor
 Boston, MA 02110
 Attn: Harry Nudelman
	  	194,164	  	29,125	  	1,407,689.00
				
	 Tracer Capital Offshore Fund Ltd.
 c/o Goldman Sachs (Cayman) Trust, Limited
 P.O. Box 896, Harbour Centre
 George Town, Grand Cayman
 Cayman Islands, British West Indies
	  	61,125	  	9,169	  	443,156.25
				
	 Tracer Capital Partners QP L.P.
 540 Madison Avenue, 21st Floor
 New York, NY 10022
 Attn: Riley McCormack, Tom Perrone
	  	60,188	  	9,028	  	436,363.00
				
	 Tracer Capital Partners, L.P.
 540 Madison Avenue, 21st Floor
 New York, NY 10022
 Attn: Riley McCormack, Tom Perrone
	  	3,687	  	553	  	26,730.75
				
	 Tudor Proprietary Trading, L.L.C.
 c/o Tudor Investment Corporation
 50 Rowes Wharf
 6th Floor
 Boston, MA 02110
 Attn: Harry Nudelman
	  	104,550	  	15,682	  	757,987.50
				
	 Twin Beeches Foundation
 98 Beechwood Road
 Summit, NJ 07901
	  	5,000	  	750	  	36,250.00

  

 5 

								
	 Name and Address of
 Purchaser

	  	Number of
Shares of
Common
Stock

	  	Number of
Warrants

	  	Total Purchase
Price

	 Witches Rock Portfolio Ltd.
 c/o Tudor Investment Corporation
 50 Rowes Wharf, 6th Floor
 Boston, MA 02110
	  	1,201,286	  	180,193	  	 	8,709,323,50
				
	 Xerion Partners II Master Fund Limited
 c/o BNY Alternative Investment Services Ltd.
 18 Church Street, Skandia House
 Hamilton HM11, Bermuda
	  	175,000	  	26,250	  	 	1,268,750.00
	 	  	
	  	
	  	
	

	 TOTAL
	  	12,870,000	  	1,930,500	  	$	93,307,500.00
	 	  	
	  	
	  	
	

  

 6 

 Exhibit A 
  

[See Exhibit 10.3 to this current report on Form 8-K]COMMON STOCK PURCHASE WARRANT

 EXHIBIT 10.3 
  
 Form of Common Stock Purchase Warrant 
  
 THE SHARES REPRESENTED BY THIS WARRANT CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE
OFFERED OR SOLD IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, REGISTRATION UNDER SAID ACT. 
  
 December 14, 2004 
  
 FIRST AVENUE NETWORKS, INC. 
  

COMMON STOCK PURCHASE WARRANT 
  
 Void after December 14, 2009, and subject to earlier termination upon the terms and conditions set forth herein 
  
 This Warrant (the “Warrant”) entitles
[                ] (including any successors or assigns, the “Holder”), for value received, to purchase from FIRST AVENUE NETWORKS, INC.,
a Delaware corporation (the “Company”), at any time and from time to time, subject to the terms and conditions set forth herein, during the period starting from 5:00 a.m. on the Initial Exercise Date (as defined in Section 1 below)
to 5:00 p.m., Eastern time, on the Expiration Date (as defined in Section 1 below), immediately following which time this Warrant shall expire and become void, all or any portion of the then vested Warrant Shares at the Exercise Price (as defined in
Section 1 below). This Warrant shall not be exercisable (and this Warrant shall terminate) if the Initial Exercise Date (as defined below) never occurs. This Warrant is issued subject to the following terms and conditions: 
  
 1. Definitions As used in this Warrant, the following terms shall
have the respective meanings set forth below or elsewhere in this Warrant as referred to below: 
  
 “Additional Shares of Common Stock” means all shares (including treasury shares) of Common Stock issued or
sold by the Company after the date hereof, whether or not subsequently reacquired or retired by the Company, other than (i) the shares of Common Stock issued upon the exercise of Warrants, (ii) shares of Common Stock issued to employees, directors,
or consultants of the Company with the approval of the Board of Directors and (iii) shares of Common Stock issued upon the exercise of options or warrants issued to employees, directors or consultants of the Company with the approval of the Board of
Directors. 
  
 “Affiliate” means, with respect to
any Person, any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this Warrant, “control,” when used with respect to any specified
Person means the power to direct or cause the direction of the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing. 
  
 “business day” (whether such term is capitalized or not) means any day except Saturday, Sunday and any day which shall be a federal legal holiday or a day on which banking institutions in the State of New York or the
Commonwealth of Virginia are authorized or required by law or other governmental action to close. 

 “Closing Date” shall have the meaning given to it in the Securities Purchase Agreement.

  
 “Common Stock” means the common stock,
$0.001 par value per share, of the Company (including any securities into which or for which such shares may be exchanged for, or converted into, pursuant to any stock dividend, stock split, stock combination, recapitalization, reclassification,
reorganization or other similar event). 
  
 “Company” has the meaning set forth in the preamble hereof. 
  
 “Convertible Securities” means any evidences of indebtedness, shares of stock (other than Common Stock) or other securities directly or indirectly convertible into or exchangeable for
Additional Shares of Common Stock. 
  
 “Current
Market Price” shall mean on any date specified herein, the average daily Fair Market Value during the period of the most recent 10 days on which the national securities exchanges were open for trading ending two trading days
immediately preceding such date, except that if no Common Stock is then listed or admitted to trading on any national securities exchange or quoted in the over-the-counter market, the Current Market Price shall be the Fair Market Value on such date.

  
 “Exercise Price” means initially the
Initial Exercise Price, as such amount may be adjusted from time to time pursuant to Section 3 hereof. 
  
 “Expiration Date” means December 14, 2009. 
  
 “Fair Market Value” shall mean on any date (i) if the Common Stock is quoted on Nasdaq or
listed on a national securities exchange, then the last reported sale price per share of Common Stock on Nasdaq or any national securities exchange in which such Common Stock is quoted or listed, as the case may be, on such date or, if no such sale
price is reported on such date, such price on the next preceding business day in which such price was reported, (ii) if the Common Stock is actively traded over-the-counter, then the last sales price quoted, if determinable, or, if not determinable,
the average of the closing bid and asked prices quoted on the OTCBB (or similar system) on such date or (iii) if such Common Stock is not traded, quoted or listed on Nasdaq or any national securities exchange or the over-the-counter market, then the
fair market value of a share of Common Stock, as determined in good faith by the Board of Directors of the Company. 
  
 “Holder” has the meaning set forth in the preamble of hereof. 
  
 “Initial Exercise Date” means the date on which all or any part of this Warrant first vests
in accordance with the terms hereof. 
  
 “Initial
Exercise Price” means $7.25 per share of Common Stock. 
  
 “Options” means any rights, options or warrants to subscribe for, purchase or otherwise acquire either Additional Shares of Common Stock or Convertible Securities 
  
 “Ownership Limit” has the meaning set forth in
Section 2.2 hereof. 
  
 “Person” (whether or not
capitalized) means an individual, entity, partnership, limited liability company, corporation, association, trust, joint venture, unincorporated organization, and any government, governmental department or agency or political subdivision thereof.

  

 -2- 

 “Registration Rights Agreement” means that certain Registration Rights
Agreement, dated as of the date hereof, as it may be amended from time to time, by and among the Company and the Investors (as such term is defined therein). 
  
 “SEC” means the United States Securities and Exchange Commission. 
  
 “Securities Purchase Agreement” means that certain Securities Purchase Agreement dated
December 14, 2004, by and between the Company and the Purchasers (as such term is defined therein). 
  
 “Shares” means the aggregate of 12,870,000 shares of Common Stock issued pursuant to the Securities Purchase Agreement. 
  
 “Warrants” means this Warrant and any other warrants to
purchase Common Stock issued by the Company to the Investors pursuant to the Securities Purchase Agreement, a form of which is attached hereto as Exhibit A. 
  
 “Warrant Shares” means [      ] shares of Common Stock, subject to
adjustment in accordance with Section 3 below. 
  
 2. Exercise
of Warrant. 
  
 2.1 Method of Exercise; Payment.

  
 (a) Cash Exercise. Subject to all of the terms and
conditions hereof (including the vesting provisions set forth below), this Warrant may be exercised, in whole or in part, with respect to any then vested Warrant Shares, at any time and from time to time during the period commencing on the Initial
Exercise Date and ending at 5:00 p.m. EST on the Expiration Date, by surrender of this Warrant to the Company at its principal office, accompanied by a subscription substantially in the form attached hereto, executed by the Holder and accompanied by
(a) wire transfer of immediately available funds or (b) certified or official bank check payable to the order of the Company, in each case in the amount obtained by multiplying (i) the number of Warrant Shares for which the Warrant is being
exercised, as designated in such subscription, by (ii) the Exercise Price. Thereupon, the Holder shall be entitled to receive the number of duly authorized, validly issued, fully paid and nonassessable Warrant Shares determined as provided for
herein. 
  
 (b) Cashless Exercise/Conversion. Subject to
all of the terms and conditions hereof (including the vesting provisions set forth below), the Holder shall have the right to convert this Warrant, in whole or in part, with respect to any then vested Warrant Shares, at any time and from time to
time during the period commencing on the Initial Exercise Date and ending at 5:00 p.m. EST on the Expiration Date, by surrender of this Warrant to the Company at its principal office, accompanied by a conversion notice substantially in the form
attached hereto, executed by the Holder. Thereupon, the Holder shall be entitled to receive a number of duly authorized, validly issued, fully paid and nonassessable Warrant Shares equal to: 
  
 (i) (A) (x) the number of Warrant Shares (subject to adjustment as provided
in Section 3 hereof) which such Holder would be entitled to receive upon exercise of such Warrant for the number of Warrant Shares designated in such conversion notice (without giving effect to any adjustment thereof pursuant to this subsection),
multiplied by (y) the Fair Market Value of each such Warrant Share so receivable upon such exercise 
  

 -3- 

 minus 
  

(B) (x) the number of Warrant Shares (subject to adjustment as provided in Section 3 hereof) which such Holder would be entitled to
receive upon exercise of such Warrant for the number of Warrant Shares designated in such conversion notice (without giving effect to any adjustment thereof pursuant to this subsection), multiplied by (y) the Exercise Price 
  
 divided by 
  
 (ii) the Fair Market Value per Warrant Share. 
  
 2.2 Vesting. This Warrant shall become exercisable with respect to
Warrant Shares (“vest”) as follows: (i) with respect to [      ]1 Warrant Shares, on the 60th day following the Closing Date if a registration statement on Form S-1
or Form S-3 for the resale of the Shares (a “Registration Statement”) shall not have been filed with the SEC by such date, (ii) with respect to an additional [      ]2 Warrant Shares, on the 90th day following the Closing Date, if a Registration Statement shall not have been filed with the SEC by such date, (iii) with respect to an additional [      ]3 Warrant Shares, on the 180th day following the Closing Date, if a Registration Statement shall not have been declared effective by the SEC by such date, and (iv) with respect to the remaining [      ]4 Warrant Shares, on the 210th day following the Closing Date, if a Registration Statement shall not have been declared effective by the SEC by such date; provided, however, that notwithstanding the foregoing, the
Warrant Shares shall vest in accordance with clauses (i)-(iv) above only to the extent that, after giving effect to such vesting, such vesting will not result in the Holder (together with its Affiliates) owning, holding or beneficially owning more
than 9.9% of the Common Stock (the “Ownership Limit”), and at any time, and from time to time, if the Holder (together with its Affiliates) owns, holds or beneficially owns a percentage less than the Ownership Limit, then
this Warrant shall thereafter continue to vest, first with respect to any Warrant Shares that would have vested in accordance with clauses (i)-(iv) above but for the Ownership Limit and second, otherwise in accordance with clauses (i)-(iv) above,
but in each case, again, only to the extent that, after giving effect to such vesting, such vesting will not result in the Holder (together with its Affiliates) owning, holding or beneficially owning more than the Ownership Limit. The amount of
Warrant Shares subject to vesting on any given occurrence pursuant to this Section 2.2 will be proportionately adjusted to reflect any previous adjustments to the aggregate number of Warrant Shares pursuant to Section 3. 
  
 2.3 Delivery of Stock Certificates on Exercise. As soon as
practicable after the exercise of this Warrant, and in any event within three (3) business days thereafter, the Company, at its expense, and in accordance with applicable securities laws, will cause to be issued in the name of and delivered to the
Holder, or as the Holder may direct (subject in all cases, to the provisions of Section 8 hereof), a certificate or certificates for the number of Warrant Shares purchased by the Holder on such exercise, plus, in lieu of any fractional share
to which the Holder would otherwise be entitled, cash equal to such fraction multiplied by the Fair Market Value. 

	1	To be equal to 25% of the initial total of the Warrant Shares. 

	2	To be equal to 25% of the initial total of the Warrant Shares. 

	3	To be equal to 25% of the initial total of the Warrant Shares. 

	4	To be equal to 25% of the initial total of the Warrant Shares. 

  

 -4- 

 2.4 Shares To Be Fully Paid and Nonassessable. All Warrant Shares issued upon the exercise of this
Warrant shall be duly authorized, validly issued, fully paid and nonassessable, free of all liens, taxes, charges and other encumbrances or restrictions on sale (other than those set forth herein). 
  
 2.5 Issuance of New Warrants; Company Acknowledgment. Upon any partial
exercise of this Warrant, the Company, at its expense, will forthwith and, in any event within three (3) business days, issue and deliver to the Holder a new warrant or warrants of like tenor, registered in the name of the Holder, exercisable, in
the aggregate, for the balance of the Warrant Shares. Moreover, the Company shall, at the time of any exercise of this Warrant, upon the request of the Holder, acknowledge in writing its continuing obligation to afford to the Holder any rights to
which the Holder shall continue to be entitled after such exercise in accordance with the provisions of this Warrant; provided, however, that if the Holder shall fail to make any such request, such failure shall not affect the
continuing obligation of the Company to afford to the Holder any such rights. 
  
 2.6 Payment of Taxes and Expenses. The Company shall pay any recording, filing, stamp or similar tax which may be payable in respect of any transfer involved in the issuance of, and the preparation and delivery
of certificates (if applicable) representing, (i) any Warrant Shares purchased upon exercise of this Warrant and/or (ii) new or replacement warrants in the Holder’s name or the name of any transferee of all or any portion of this Warrant.

  
 2.7 Cooperation with Filings. The Company shall assist
and cooperate with any Holder required to make any governmental or regulatory filings or obtain any governmental or regulatory approvals prior to or in connection with any exercise of this Warrant (including, without limitation, making any filings
required to be made by the Company). 
  
 2.8 Conditions.
Notwithstanding any other provision of this Warrant, if the exercise of all or any portion of this Warrant is to be made in connection with a registered public offering, a sale of the Company or any other transaction or event, such exercise may, at
the election of the Holder, be conditioned upon consummation of such transaction or event in which case such exercise shall not be deemed effective until the consummation of such transaction or event. 
  
 3. Adjustment of Exercise Price and Warrant Shares. The Exercise Price
and the number of Warrant Shares shall be subject to adjustment from time to time upon the happening of certain events as described in this Section 3. 
  
 3.1 Subdivision or Combination of Stock. If at any time or from time to time after the date hereof, the Company shall subdivide (by way of stock
dividend, stock split or otherwise) its outstanding shares of Common Stock, the Exercise Price in effect immediately prior to such subdivision shall be reduced proportionately and the number of Warrant Shares (calculated to the nearest whole share)
shall be increased proportionately, and conversely, in the event the outstanding shares of Common Stock shall be combined (whether by stock combination, reverse stock split or otherwise) into a smaller number of shares, the Exercise Price in effect
immediately prior to such combination shall be increased proportionately and the number of Warrant Shares (calculated to the nearest whole share) shall be decreased proportionately. The Exercise Price and the number of Warrant Shares, as so
adjusted, shall be readjusted in the same manner upon the happening of any successive event or events described in this Section 3.1. 
  
 3.2 Adjustments 
  
 (a) Adjustment for Stock Dividends. If at any time after the date hereof, the Company shall declare a dividend or make any other distribution upon
any class or series of stock of the 
  

 -5- 

 Company payable in shares of Common Stock, the Exercise Price in effect immediately prior to such declaration or
distribution shall be reduced proportionately and the number of Warrant Shares (calculated to the nearest whole share) shall be increased proportionately, to reflect the issuance of any shares of Common Stock, issuable in payment of such dividend or
distribution. The Exercise Price and the number of Warrant Shares, as so adjusted, shall be readjusted in the same manner upon the happening of any successive event or events described in this Section 3.2. 
  
 (b) Adjustments for Other Dividends and Distributions. In the event
the Company at any time or from time to time after the date hereof shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in securities of the Company
(other than shares of Common Stock) or in cash or other property, then and in each such event provision shall be made so that the Holder shall receive upon exercise hereof, in addition to the number of shares of Common Stock issuable hereunder, the
kind and amount of securities of the Company and/or cash and other property which the Holder would have been entitled to receive had this Warrant been exercised into Common Stock on the date of such event and had the Holder thereafter, during the
period from the date of such event to and including the exercise date, retained any such securities receivable, giving application to all adjustments called for during such period under this Section 3 with respect to the rights of the Holder.

  
 3.3 Adjustments for Reclassifications. If the Common
Stock issuable upon the conversion of this Warrant shall be changed into the same or a different number of shares of any class(es) or series of stock, whether by reclassification or otherwise (other than an adjustment under Sections 3.1 and 3.2 or a
merger, consolidation, or sale of assets provided for under Section 3.4), then and in each such event, the Holder hereof shall have the right thereafter to convert each Warrant Share into the kind and amount of shares of stock and other securities
and property receivable upon such reclassification, or other change by holders of the number of shares of Common Stock into which such Warrant Shares would have been convertible immediately prior to such reclassification or change, all subject to
successive adjustments thereafter from time to time pursuant to and in accordance with, the provisions of this Section 3. 
  
 3.4 Adjustments for Merger or Consolidation. In the event that, at any time or from time to time after the date hereof, the Company shall (a)
effect a reorganization, (b) consolidate with or merge into any other Person, or (c) sell or transfer all or substantially all of its properties or assets or more than 50% of the voting capital stock of the Company (whether issued and outstanding,
newly issued, from treasury, or any combination thereof) to any other person under any plan or arrangement contemplating the consolidation or merger, sale or transfer, or dissolution of the Company (each, a “Merger Transaction”),
then, in each such case, the Holder, upon the exercise of this Warrant as provided in Section 2.1 or the conversion of this warrant as provided in Section 2.2 hereof at any time or from time to time after the consummation of such reorganization,
consolidation, merger or sale or the effective date of such dissolution, as the case may be, shall receive, in lieu of the Warrant Shares issuable on such exercise immediately prior to such consummation or such effective date, as the case may be,
the stock and property (including cash) to which the Holder would have been entitled upon the consummation of such consolidation or merger, or sale or transfer, or in connection with such dissolution, as the case may be, if the Holder had so
exercised this Warrant immediately prior thereto (assuming the payment by the Holder of the Exercise Price therefor as required hereby in a form permitted hereby, which payment shall be included in the assets of the Company for the purposes of
determining the amount available for distribution), all subject to successive adjustments thereafter from time to time pursuant to, and in accordance with, the provisions of this Section 3. The Company shall not effect any such reorganization,
consolidation, merger, sale or transfer unless, prior to the consummation thereof, the successor entity (if other than the Company) resulting from the consolidation or merger or the entity purchasing such assets assumes by written instrument the
obligation to deliver to each holder of Warrants such shares of stock, 
  

 -6- 

 securities or assets as, in accordance with the foregoing provisions, such holder may be entitled to acquire; provided,
that any assumption shall not relieve the Company of its obligations hereunder. Furthermore, upon the consummation of any Merger Transaction, this Warrant shall vest with respect to any shares not previously vested pursuant to Section 2.2; provided
that, to the extent any date on which vesting could occur pursuant to any of clauses (i)-(iv) of Section 2.2 has occurred prior to the consummation of the Merger Transaction, the portion of the Warrant which could have vested on each such date shall
not become vested pursuant to this Section 3.4. 
  
 3.5
Continuation of Terms. Upon any reorganization, consolidation, merger or transfer (and any dissolution following any such transfer) referred to in this Section 3, this Warrant shall continue in full force and effect and the terms hereof shall
be applicable to the shares of Common Stock and other securities and property receivable upon the exercise of this Warrant after the consummation of such reorganization, consolidation or merger or the effective date of dissolution following any such
transfer, as the case may be, and shall be binding upon the issuer of any such Common Stock or other securities, including, in the case of any such transfer, the Person acquiring all or substantially all of the properties or assets or more than 50%
of the voting capital stock of the Company (whether issued and outstanding, newly issued or from treasury or any combination thereof), whether or not such Person shall have expressly assumed the terms of this Warrant. 
  
 3.6 Issuance of Additional Shares of Common Stock. If at any time or
from time to time after the date hereof the Company shall issue or sell Additional Shares of Common Stock (including Additional Shares of Common Stock deemed to be issued pursuant to Section 3.7 hereof) without consideration or for a consideration
per share less than the Current Market Price in effect immediately prior to such issue or sale, then, and in each such case, subject to Section 3.9 hereof, such Exercise Price shall be reduced, concurrently with such issue or sale, to a price
(calculated to the nearest .001 of a cent) determined by multiplying such Exercise Price by a fraction: 
  
 (a) the numerator of which shall be (i) the number of shares of Common Stock outstanding immediately prior to such issue or sale plus (ii) the number of
shares of Common Stock which the aggregate consideration received by the Company for the total number of such Additional Shares of Common Stock so issued or sold would purchase at the Current Market Price; and 
  
 (b) the denominator of which shall be the number of shares of Common Stock
outstanding immediately after such issue or sale. 
  
 Upon each
adjustment of the Exercise Price as a result of the calculations made in this Section 3.6 (including those resulting from issuances of Additional Shares of Common Stock deemed to be issued pursuant to Section 3.7 hereof), the number of Warrant
Shares shall be adjusted by multiplying such number of Warrant Shares by a fraction, the numerator of which shall be the Exercise Price in effect immediately prior to such adjustment and the denominator of which shall be the Exercise Price in effect
after giving effect to such adjustment. 
  
 3.7 Treatment of
Options and Convertible Securities. In case the Company at any time or from time to time after the date hereof shall issue, sell, grant or assume, or shall fix a record date for the determination of holders of any class of securities entitled to
receive, any Options or Convertible Securities, then, and in each such case, the maximum number of Additional Shares of Common Stock (as set forth in the instrument relating thereto, without regard to any provisions contained therein for a
subsequent adjustment of such number the purpose of which is to protect against dilution) at any time issuable upon the exercise of such Options or, in the case of Convertible Securities and Options therefor, the conversion or exchange of such
Convertible Securities, shall be deemed to be Additional Shares of Common Stock issued as of the time of such issue, sale, grant or assumption or, in case such a record date shall have been fixed, as of the close of business on such record date;
provided, however, that such Additional Shares of Common Stock shall not be deemed to have been issued unless the consideration per share (determined pursuant to Section 3.8 hereof) of such shares would be less than the Current Market
Price on the date of and immediately prior to such issue, sale, grant or assumption or immediately prior to the close of business on such record date, as the case may be; and provided, further, that in any such case in which Additional
Shares of Common Stock are deemed to be issued: 
  
 (a) no
further adjustment of the Exercise Price shall be made upon the exercise of such Options or the conversion or exchange of such Convertible Securities and the consequent issue or sale of Convertible Securities or shares of Common Stock; 

 

 -7- 

 (b) if such Options or Convertible Securities by their terms provide, with the passage of time or
otherwise, for any increase in the consideration payable to the Company, or decrease in the number of Additional Shares of Common Stock issuable, upon the exercise, conversion or exchange thereof (by change of rate or otherwise), the Exercise Price
computed upon the original issue, sale, grant or assumption thereof (or upon the occurrence of the record date, or date prior to the commencement of ex-dividend trading, as the case may be, with respect thereto), and any subsequent adjustments based
thereon, shall, upon any such increase or decrease becoming effective, be recomputed to reflect such increase or decrease insofar as it affects such Options, or the rights of conversion or exchange under such Convertible Securities, which are
outstanding at such time; 
  
 (c) upon the expiration (or
purchase by the Company and cancellation or retirement) of any such Options which shall not have been exercised, or the expiration of any rights of conversion or exchange under any such Convertible Securities which (or purchase by the Company and
cancellation or retirement of any such Convertible Securities the rights of conversion or exchange under which) shall not have been exercised, the Exercise Price computed upon the original issue, sale, grant or assumption thereof (or upon the
occurrence of the record date, or date prior to the commencement of ex-dividend trading, as the case may be, with respect thereto), and any subsequent adjustments based thereon, shall, upon (and effective as of) such expiration (or such cancellation
or retirement, as the case may be), be recomputed as if: 
  

	 	(i)	in the case of Options or Convertible Securities, the only Additional Shares of Common Stock issued or sold were the Additional Shares of Common Stock, if any, actually issued or
sold upon the exercise of such Options or the conversion or exchange of such Convertible Securities and the consideration received therefor was the consideration actually received by the Company for the issue, sale, grant or assumption of all such
Options, whether or not exercised, plus the consideration actually received by the Company upon such exercise, or for the issue or sale of all such Convertible Securities which were actually converted or exchanged, plus the additional consideration,
if any, actually received by the Company upon such conversion or exchange, and 

  

	 	(ii)	in the case of Options for Convertible Securities, only the Convertible Securities, if any, actually issued or sold upon the exercise of such Options were issued at the time of the
issue, sale, grant or assumption of such Options, and the consideration received by the Company for the Additional Shares of Common Stock deemed to have then been issued was the consideration actually received by the Company for the issue, sale,
grant or assumption of all such Options, whether or not exercised, plus the consideration deemed to have been received by the Company (pursuant to Section 3.8 hereof) upon the issue or sale of such Convertible Securities with respect to which such
Options were actually exercised; and 

  
 (d) no
readjustment pursuant to clause (b) or (c) above (either individually or cumulatively together with all prior readjustments as made in respect of such Options or Convertible Securities) shall have the effect of increasing the Exercise Price by a
proportion (relative to the Exercise 
  

 -8- 

 Price in effect immediately prior to such readjustment) in excess of the inverse of the aggregate proportional adjustment
thereof made in respect of the issue, sale, grant or assumption of such Options or Convertible Securities. Notwithstanding the foregoing, in no event shall any provision in this Section 3.7 cause the Exercise Price to be greater than the Exercise
Price on the date of issuance of this Warrant. 
  
 If the consideration provided
for in any Option or the additional consideration, if any, payable upon the conversion or exchange of any Convertible Security shall be reduced, or the rate at which any Option is exercisable or any Convertible Security is convertible into or
exchangeable for shares of Common Stock shall be increased, at any time under or by reason of provisions with respect thereto designed to protect against dilution, then, effective concurrently with each such change, the Exercise Price then in effect
shall first be adjusted to eliminate the effects (if any) of the issuance (or deemed issuance) of such Option or Convertible Security on the Exercise Price and then readjusted as if such Option or Convertible Security had been issued on the date of
such change with the terms in effect after such change, but only if as a result of such adjustment the Exercise Price then in effect hereunder is thereby reduced. 
  
 3.8 Computation of Consideration. For the purposes of this Section 3: 
  
 (a) the consideration for the issue or sale of any Additional Shares of
Common Stock shall, irrespective of the accounting treatment of such consideration: 
  

	 	(i)	insofar as it consists of cash, be computed at the amount of cash actually received by the Company without deducting of any expenses paid or incurred by the Company or any
commissions or compensations paid or concessions or discounts allowed to underwriters, dealers or others performing similar services in connection with such issue or sale; 

  

	 	(ii)	insofar as it consists of property (including securities) other than cash actually received by the Company, be computed at the fair value thereof at the time of such issue or sale,
as determined in good faith by the Board of Directors of the Company; 

  

	 	(iii)	insofar as it consists neither of cash nor of other property, be computed as having no value; and 

  

	 	(iv)	in case Additional Shares of Common Stock are issued or sold together with other stock or securities or other assets of the Company for a consideration which covers both cash and
property, be the portion of such consideration so received, computed as provided in clauses (i), (ii) and (iii) above, allocable to such Additional Shares of Common Stock, all as determined in good faith by the Board of Directors of the Company;

  
 (b) Additional Shares of Common Stock deemed to
have been issued pursuant to Section 3.7 hereof shall be deemed to have been issued for a consideration per share determined by dividing: 
  

	 	(i)	the total amount of cash and other property, if any, received and receivable by the Company as direct consideration for the issue, sale, grant or assumption of the Options or
Convertible Securities in question, plus the minimum aggregate amount of additional consideration (as set forth in the instruments relating thereto, without regard to any provision 

  

 -9- 

 contained therein for a subsequent adjustment of such consideration the purpose of which is to protect
against dilution) payable to the Company upon the exercise in full of such Options or the conversion or exchange of such Convertible Securities or, in the case of Options for Convertible Securities, the exercise of such Options for Convertible
Securities and the conversion or exchange of such Convertible Securities, in each case computing such consideration as provided in the foregoing clause (a), 
  
 by 
  

	 	(ii)	the maximum number of shares of Common Stock (as set forth in the instruments relating thereto, without regard to any provision contained therein for a subsequent adjustment of such
number the purpose of which is to protect against dilution) issuable upon the exercise of such Options or the conversion or exchange of such Convertible Securities; and 

  
 (c) Additional Shares of Common Stock deemed to have been issued pursuant to Section 3.7 hereof shall be deemed to have
been issued for no consideration. 
  
 3.9 Minimum Adjustment of
Exercise Price. If the amount of any adjustment of the Exercise Price required pursuant to this Section 3 would be less than one-tenth (1/10) of one percent (1%) of the Exercise Price in effect at the time such adjustment is otherwise so
required to be made, such amount shall be carried forward and adjustment with respect thereto made at the time of and together with any subsequent adjustment which, together with such amount and any other amount or amounts so carried forward, shall
aggregate at least one tenth (1/10) of one percent (1%) of such Exercise Price. 
  
 3.10 Shares Deemed Outstanding. For all purposes of the computations to be made pursuant to this Section 3, (i) there shall be deemed to be outstanding all shares of Common Stock issuable pursuant to the
exercise of options and warrants outstanding on December 14, 2004, including without limitation the Warrants and (ii) treasury shares shall not be deemed to be outstanding. 
  
 3.11 Other Dilutive Events. If any event occurs that would adversely affect the Holder’s rights which is not
expressly provided for by this Section 3 (including, without limitation, the granting of stock appreciation rights, phantom stock rights or other rights with equity features), then the Company’s Board of Directors will make an appropriate
adjustment in the Exercise Price and number of Warrant Shares subject to this Warrant so as to protect the Holder’s rights; provided, however, that no such adjustment will increase the Exercise Price or decrease the number of
shares of Common Stock obtainable as otherwise determined pursuant to this Section 3. 
  
 3.12 Certificate as to Adjustments. Upon the occurrence of each adjustment or readjustment of the Exercise Price and number of Warrant Shares pursuant to this Section 3, this Warrant shall, without any action
on the part of the Holder, be adjusted in accordance with this Section 3, and the Company, at its expense, promptly shall compute such adjustment or readjustment in accordance with the terms hereof and prepare and furnish to the Holder a certificate
setting forth such adjustment or readjustment, showing in detail the facts upon which such adjustment or readjustment is based. The Company will forthwith send a copy of each such certificate to the Holder in accordance with Section 10.4 below.

  

 -10- 

 4. Registration Rights. The initial holders of the Warrant Shares shall be entitled to the
registration rights and other rights applicable to such shares provided by the Registration Rights Agreement. 
  
 5. Notices of Record Date. Upon (a) any establishment by the Company of a record date of the holders of any class of securities for the purpose of
determining the holders thereof who are entitled to receive any dividend or other distribution, or right or option to acquire securities of the Company, or any other right, or (b) any capital reorganization, reclassification, recapitalization,
merger or consolidation of the Company with or into any other Person, any transfer of all or substantially all the assets of the Company, or any voluntary or involuntary dissolution, liquidation or winding up of the Company, or the sale, in a single
transaction, of a majority of the Company’s voting stock (whether newly issued, or from treasury, or previously issued and then outstanding, or any combination thereof), the Company shall mail to the Holder at least ten (10) business days, or
such longer period as may be required by law, prior to the record date specified therein and at least ten (10) business days prior to the effective date specified in clause (ii) or (iii) hereof, a notice specifying (i) the date established as the
record date for the purpose of such dividend, distribution, option or right and a description of such dividend, distribution, option or right, (ii) the date on which any such reorganization, reclassification, transfer, consolidation, merger,
dissolution, liquidation or winding up, or sale is expected to become effective and (iii) the date, if any, fixed as to when the holders of record of Common Stock shall be entitled to exchange their shares of Common Stock for securities or other
property deliverable upon such reorganization, reclassification, transfer, consolidation, merger, dissolution, liquidation or winding up. Nothing herein shall prohibit the Holder from exercising this Warrant during the ten (10) business day period
commencing on the date of such notice. 
  
 6. Exchange of
Warrant. Subject to the provisions of Section 8 hereof (if and to the extent applicable), this Warrant shall be exchangeable, upon the surrender hereof by the Holder at the principal office of the Company, for new warrants of like tenor, each
registered in the name of the Holder or, subject to compliance with applicable federal and state securities laws, in the name of such other Persons as the Holder may direct (upon payment by the Holder of any applicable transfer taxes). Each of such
new warrants shall be exercisable for such number of Warrant Shares as the Holder shall direct, provided that all of such new warrants shall represent, in the aggregate, the right to purchase the same number of Warrant Shares and cash,
securities or other property, if any, which may be purchased by the Holder upon exercise of this Warrant at the time of its surrender. 
  
 7. [Intentionally Omitted] 
  
 8. Transfer Provisions, etc. 
  
 8.1 Legends. Subject to the provisions of Section 6.2 of the Securities Purchase Agreement, each certificate representing any Warrant Shares
issued upon exercise of this Warrant, and of any shares of Common Stock into which such Warrant Shares may be converted, shall bear the following legend: 
  
 “THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN
THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, REGISTRATION UNDER SAID ACT.” 
  

 -11- 

 8.2 Mechanics of Transfer. 
  
 (a) Any transfer of all or any portion of this Warrant (and the Warrant Shares), or of any interest herein or therein, that
is otherwise in compliance with applicable law shall be effected by surrendering this Warrant to the Company at its principal office, together with a duly executed form of assignment, in the form attached hereto. In the event of any such transfer of
this Warrant, subject to compliance with applicable federal and state securities laws, the Company shall issue a new warrant or warrants of like tenor to the transferee(s), representing, in the aggregate, the right to purchase the same number of
Warrant Shares and cash, securities or other property, if any, which may be purchased by the Holder upon exercise of this Warrant at the time of its surrender, in accordance with Section 2 hereof. 
  
 (b) In the event of any transfer of all or any portion of this Warrant in
accordance with Section 8.2(a) above, the Company shall issue (i) a new warrant of like tenor to the transferee, representing the right to purchase the number of Warrant Shares, and cash, securities or other property, if any, which were purchasable
by the Holder of the transferred portion of this Warrant at the time of said transfer, and (ii) a new warrant of like tenor to the Holder, representing the right to purchase the number of Warrant Shares, if any, and cash, securities or other
property, if any, purchasable by the Holder of the un-transferred portion of this Warrant. Until this Warrant or any portion thereof is transferred on the books of the Company, the Company may treat the Holder as the absolute holder of this Warrant
and all right, title and interest therein for all purposes, notwithstanding any notice to the contrary. 
  
 8.3 No Restrictions on Transfer. Subject to compliance with applicable federal and state securities laws and Section 6.1 of the Securities Purchase
Agreement, this Warrant and any portion hereof, the Warrant Shares and the rights hereunder may be transferred by the Holder in its sole discretion at any time and to any Person or Persons, including without limitation Affiliates and affiliated
groups of such Holder, without the consent of the Company. 
  
 8.4
Warrant Register. The Company shall keep at its principal office a register for the registration, and registration of transfers, of the Warrants. The name and address of each Holder of one or more of the Warrants, each transfer thereof and
the name and address of each transferee of one or more of the Warrants shall be registered in such register. The Company shall give to any Holder of a Warrant promptly upon request therefor, a complete and correct copy of the names and addresses of
all registered Holders of the Warrants. 
  
 9. Lost, Stolen or
Destroyed Warrant. Upon receipt by the Company of evidence satisfactory to it of loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of a customary affidavit of the Holder and
customary unsecured indemnity agreement, or, in the case of mutilation, upon surrender of this Warrant, the Company at its expense will execute and deliver, or will instruct its transfer agent to execute and deliver, a new Warrant of like tenor and
date and representing the same rights represented by such lost, stolen, destroyed or mutilated warrant and any such lost, stolen. mutilated or destroyed Warrant thereupon shall become void. 
  
 10. General. 
  
 10.1 Authorized Shares, Reservation of Shares for Issuance. At all
times while this Warrant is outstanding, the Company shall maintain its corporate authority to issue, and shall have authorized and reserved for issuance upon exercise of this Warrant, such number of shares of Common Stock and any other capital
stock or other securities as shall be sufficient to perform its obligations under this Warrant (after giving effect to any and all adjustments to the number and kind of Warrant Shares purchasable upon exercise of this Warrant). 
  
 10.2 No Impairment. The Company will not, by amendment of its
Certificate of Incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, 
  

 -12- 

 issuance or sale of securities, sale or other transfer of any of its assets or properties, or any other voluntary 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 action as may be necessary or appropriate in
order to protect the rights of the Holder hereunder against impairment. Without limiting the generality of the foregoing, the Company (a) will not increase the par value of any shares of Common Stock receivable upon the exercise of this Warrant
above the amount payable therefor on such exercise, and (b) will take all action that may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable shares of Common Stock upon the exercise of
this Warrant. 
  
 10.3 No Rights as Stockholder.
Except as provided herein (including Sections 3 and 5), the Holder shall not be entitled to vote or to receive dividends or to be deemed the holder of Common Stock that may at any time be issuable upon exercise of this Warrant for any purpose
whatsoever, nor shall anything contained herein be construed to confer upon the Holder any of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting
thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization, issuance or reclassification of stock, change of par value or change of stock to no par value, consolidation, merger or conveyance or otherwise), or
to receive notice of meetings (except to the extent otherwise provided in this Warrant), or to receive dividends or subscription rights, until the Holder shall have exercised this Warrant and been issued Warrant Shares in accordance with the
provisions hereof and continues to hold Warrant Shares. 
  
 10.4
Notices. Any notices, reports or other correspondence (hereinafter collectively referred to as “correspondence”) required or permitted to be given hereunder shall be sent by postage prepaid first class mail, overnight courier or
telecopy, or delivered by hand to the party to whom such correspondence is required or permitted to be given hereunder. The date of giving any notice shall be the date of its actual receipt. 
  

	 	(a)	All correspondence to the Company shall be addressed as follows: 

  
 First Avenue Networks, Inc. 
 230 Court
Square 
 Suite 202 
 Charlottesville, VA 22902 
 Attn: Chief Financial Officer 
  
 with a copy to: 
  
 Ropes & Gray LLP 
 One International
Place 
 Boston, MA 02110 
 Attn: Joel F. Freedman 
  
 (b) All correspondence to the
Holder shall be addressed to the Holder at its address appearing in the books maintained by the Company. 
  
 11. Amendment and Waiver. No failure or delay of the Holder in exercising any power or right hereunder shall operate as a waiver thereof, nor shall
any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and
remedies of the Holder are cumulative and not exclusive of any rights or remedies which it would otherwise have. 
  

 -13- 

 This Warrant is one of a series of Warrants issued by the Company, all dated the date hereof and of like tenor, except as
to the number of shares of Common Stock subject thereto (collectively, the “Company Warrants”). Any term of this Warrant may be amended or waived upon the written consent of the Company and the holders of Company Warrants
representing at least a majority of the number of shares of Common Stock then subject to outstanding Company Warrants; provided that (i) any such amendment or waiver must apply to all Company Warrants then outstanding; (ii) the number of
Warrant Shares subject to this Warrant, the Exercise Price or Expiration Date of this Warrant and the number of shares or class of stock obtainable upon exercise of this Warrant may not be amended, (iii) the right to exercise this Warrant may not be
waived, without the written consent of the Holder of this Warrant (it being agreed that an amendment to or waiver under any of the provisions of Section 3 of this Warrant shall not be considered an amendment of the number of Warrant Shares or the
Exercise Price) and (iv) any amendment that adversely affects any particular Holder without a corresponding affect upon all Holders must be approved by the particular Holder so affected..  The Company shall promptly give notice to all
holders of the Company Warrants of any amendments effected in accordance with this Section 11. No special consideration may be given to any holder as inducement to waive or amend this Warrant unless such consideration is given equally and ratably to
all holders of Company Warrants. 
  
 12. Governing Law.
This Warrant shall be governed by and construed in accordance with the laws of the State of New York, as such laws are applied to contracts entered into and wholly to be performed within the State of New York and without giving effect to any
principles of conflicts or choice of law that would result in the application of the laws of any other jurisdiction. 
  
 13. Covenants To Bind Successor and Assigns. All covenants, stipulations, promises and agreements in this Warrant contained by or on behalf of the
Company shall bind its successors and assigns, whether so expressed or not. 
  
 14. Severability. In case any one or more of the provisions contained in this Warrant shall be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining
provisions contained herein shall not in any way be affected or impaired thereby. The parties shall endeavor in good faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
  
 15. Construction. The definitions of this Warrant shall apply equally to both the singular and the plural forms of the terms defined. Wherever the context may require, any pronoun shall include the
corresponding masculine, feminine and neuter forms. The section and paragraph headings used herein are for convenience of reference only, are not part of this Warrant and are not to affect the construction of or be taken into consideration in
interpreting this Warrant. 
  
 16. Remedies. The Holder, in
addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate. In any action or proceeding brought to enforce
any provision of this Warrant or where any provision hereof is validly asserted as a defense, the successful party to such action or proceeding shall be entitled to recover reasonable attorneys’ fees in addition to any other available remedy.

  
 [SIGNATURE PAGE
TO FOLLOW] 
  

 -14- 

 IN WITNESS WHEREOF, the Company has
executed this Common Stock Purchase Warrant as of the date first written above. 
  

			
	 COMPANY:

	
	 FIRST AVENUE NETWORKS, INC.

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 

 NOTICE AND 
 SUBSCRIPTION 
  

			
	To:	 	First Avenue Networks, Inc.
	 	 	230 Court Square
	 	 	Suite 202
	 	 	Charlottesville, VA 22902

  
 The undersigned hereby
irrevocably elects to exercise the right of purchase represented by the attached Warrant for, and to exercise thereunder,                     
shares of Common Stock, of FIRST AVENUE NETWORKS, INC., a Delaware corporation (the “Company”), and tenders herewith payment of
$                    , representing the aggregate purchase price for such shares based on the price per share provided for in such Warrant.
Such payment is being made in accordance with Section 2.1(a) of the attached Warrant. 
  
 The undersigned hereby represents and warrants as follows: 
  
 (a) the undersigned is acquiring such shares of Common Stock for its own account for investment and not for resale or with a view to distribution thereof in violation of the Securities Act of 1933, as amended, and the
regulations promulgated thereunder (the “Securities Act”); and 
  
 (b) the undersigned is an “accredited investor” as defined in Rule 501 of Regulation D promulgated under the Securities Act and was not organized for the purpose of acquiring the Warrant or such shares of
Common Stock. The undersigned’s financial condition is such that it is able to bear the risk of holding such securities for an indefinite period of time and the risk of loss of its entire investment. The undersigned has sufficient knowledge and
experience in investing in companies similar to the Company so as to be able to evaluate the risks and merits of its investment in the Company. 
  
 Please issue a certificate or certificates for such shares of Common Stock in the following name or names and denominations and deliver such certificate
or certificates to the person or persons listed below at their respective address set forth below: 
  
 _________________________________ 
 _________________________________ 
 _________________________________ 
 _________________________________ 
  
 If said number of
shares of Common Stock shall not be all the shares of Common Stock issuable upon exercise of the attached Warrant, a new Warrant is to be issued in the name of the undersigned for the remaining balance of such shares of Common Stock less any
fraction of a share of Common Stock paid in cash pursuant to Section 2.3 of the attached warrant. 
  

			
	Dated:                     ,
        	 	

	 	 	Signature

 The undersigned First Avenue Networks, Inc. hereby acknowledges receipt of this Notice and Subscription
and authorizes issuance of the shares of Common Stock described above. 
  
 First Avenue Networks, Inc. 
  

			
	 By:
	 	  

	 Title:
	 	  

	 Date:
	 	  

 FORM OF ASSIGNMENT 
  
 (To be executed upon assignment of Warrant) 
  
 For value received,
                                        
                         hereby sells, assigns and transfers unto
                                        
     the attached Warrant [    % of the attached Warrant], together with all right, title and interest therein, and does hereby irrevocably constitute and appoint
                                        
     attorney to transfer said Warrant [said percentage of said Warrant] on the books of FIRST AVENUE NETWORKS, INC., a Delaware corporation, with full power of substitution in the premises. 
  
 If not all of the attached Warrant is to be so transferred, a new Warrant is
to be issued in the name of the undersigned for the balance of said Warrant. 
  
 The undersigned hereby agrees that it will not sell, assign, or transfer the right, title and interest in and to the Warrant unless applicable federal and state securities laws have been complied with. 
  

			
	Dated:                     ,
        	 	

	 	 	Signature

 FORM OF CONVERSION NOTICE 
  
 To First Avenue Networks, Inc.: 
  
 The undersigned registered holder of the attached Warrant hereby irrevocably converts such Warrants with respect to
                1 Warrant Shares which such holder
would be entitled to receive upon the exercise hereof, and requests that the certificates for such shares be issued in the name of, and delivered to
                                    , whose address is as
follows: 
  
 _________________________________ 

_________________________________ 
 _________________________________ 
 _________________________________ 
  
 Such conversion is being made in accordance with Section 2.1(b) of the attached Warrant. The undersigned hereby represents
and warrants as follows: 
  
 (a) the undersigned is acquiring
such shares of Common Stock for its own account for investment and not for resale or with a view to distribution thereof in violation of the Securities Act; and 
  

(b) the undersigned is an “accredited investor” as defined in Rule 501 of Regulation D promulgated under the Securities Act and was not
organized for the purpose of acquiring the Warrant or such shares of Common Stock. The undersigned’s financial condition is such that it is able to bear the risk of holding such securities for an indefinite period of time and the risk of loss
of its entire investment. The undersigned has sufficient knowledge and experience in investing in companies similar to the Company so as to be able to evaluate the risks and merits of its investment in the Company. 
  
 Dated: 
  

	
	

	 (Signature must conform in all respects to name of
 holder as specified on the face of Warrant)

	
	

	 (Street Address)

	
	

	 (City)                    
(State)                     (Zip Code)

	1	Insert here the number of Warrant Shares into which the
Warrant is convertible (or, in the case of a partial conversion, the number of Warrant Shares as to which the Warrants evidenced by this Warrant Certificate are then being converted). In the case of a partial conversion, a new Warrant Certificate
will be issued and delivered, representing the unconverted portion of the Warrants, to the holder surrendering this Warrant Certificate. 

 The undersigned First Avenue Networks, Inc. hereby acknowledges receipt of this Conversion Notice and
authorizes issuance of the shares of Common Stock described above. 
  
 First
Avenue Networks, Inc. 
  

			
	 By:
	 	  

	 Title:
	 	  

	 Date:

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