Document:

EXHIBIT 10.4

                         Executive Employment Agreement
                         ------------------------------

         This Executive Employment Agreement (this "Agreement") is made as of
the 18th day of November, 1999 by and between Speedcom Wireless International
Corporation, a Florida corporation (the "Company") and Jay O. Wright, a natural
person, ("Mr. Wright").

         WHEREAS, Mr. Wright has served on the Board of Directors of the Company
since June 30, 1999;

         WHEREAS, the Company wishes to employ Mr. Wright as its Chief Financial
Officer and Mr. Wright wishes to accept such employment;

         WHEREAS, the Company wishes Mr. Wright to move to Florida in order to
facilitate the performance of his duties for the Company; and

         WHERAS, the Company and Mr. Wright wish to set forth the terms of Mr.
Wright's employment and certain additional agreements between Mr. Wright and the
Company,

         NOW, THEREFORE, in consideration of the foregoing recitals and the
representations, covenants and terms contained herein, the parties hereto agree
as follows:

1.       Employment Period

         The Company will employ Mr. Wright, and Mr. Wright will serve the
         Company, under the terms of this Agreement for an initial term of three
         years commencing as of December 7, 1999 (the "Commencement Date"). On
         the third anniversary of the Commencement Date and on each anniversary
         date thereafter, the term of this Agreement shall automatically be
         extended for an additional period of twelve months; provided, however,
         that either party hereto may elect not to so extend this Agreement by
         giving written notice to the other party at least 60 days prior to such
         anniversary date. Notwithstanding the foregoing, Mr. Wright's
         employment hereunder may be earlier terminated, subject to Section 5
         hereof. The period of time between the commencement and the termination
         of Mr. Wright's employment hereunder shall be referred to herein as the
         "Employment Period."

2.       Duties and Status

         The Company hereby engages Mr. Wright as its Chief Financial Officer
         and a member of the Company's Executive Committee on the terms and
         conditions set forth in this Agreement. During the Employment Period,
         Mr. Wright shall report directly to the Chief Executive Officer of the
         Company, or in his absence, the Chairman and exercise such authority,
         perform such executive duties and functions and discharge such
         responsibilities as are reasonably associated with Mr. Wright's
         position, commensurate with the authority vested in Mr. Wright pursuant
         to this Agreement and consistent with the governing documents of the
         Company. These duties include, but may not be limited to, (i)
         structuring and obtaining capital from varied sources to facilitate the
         growth of the Company, (ii) supervision and review of financial
         reporting, and (iii) acquisition of and negotiation with strategic
         business partners. Mr. Wright shall work with the Chief Executive
         Officer to determine what additional responsibilities Mr. Wright shall
         perform, commensurate with Mr. Wright's position as the Chief Financial
         Officer of the Company.

         During the Employment Period, Mr. Wright shall devote substantially all
         of his business time (minimum of 5 days per week), skill and efforts to
         the business of the Company. Notwithstanding the preceding sentence,
         Mr. Wright may make and manage personal business investments of his
         choice, continue to serve as a director of the Company, TRI Advisors,
         Ltd., a Bermuda Corporation, 3C Corporation, a Nevada corporation,
         Accounts Receivable, Inc., an Illinois corporation (and any successors
         to any of them) and up to two other corporations (not counting the

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         Company or any affiliates of the Company) of his choice and serve in
         any capacity with any civic, educational or charitable organization, or
         any trade association, without seeking or obtaining the approval of the
         Board of Directors or the Chief Executive Officer, provided such
         activities and service do not materially interfere or conflict with the
         performance of his duties hereunder.

3.       Compensation and Benefits

         (a)  Salary. During the Employment Period, the Company shall pay to Mr.
              Wright, as compensation for the performance of his duties and
              obligations under this Agreement, a base salary of US $120,000 per
              annum, payable in arrears not less frequently than monthly in
              accordance with the normal payroll practices of the Company. Such
              base salary shall be subject to review each year for possible
              increase by the Board of Directors and/or Chief Executive Officer
              (as appropriate) in its sole discretion, but shall in no event be
              decreased from its then existing level during the Employment
              Period.

         (b)  Annual Bonus. During the Employment Period, Mr. Wright shall have
              the opportunity to earn an annual bonus in accordance with a
              Company annual bonus program for senior executives. The terms of
              any such bonus program shall be as set forth and as determined in
              the sole discretion of the Board of Directors and/or the Chief
              Executive Officer, as determined by corporate policy. Mr. Wright
              is not guaranteed a bonus in any particular year. In the event
              that the Company has not instituted an annual bonus program, Mr.
              Wright may still earn a bonus at the discretion of the Board of
              Directors and/or Chief Executive Officer of the Company (as
              appropriate).

         (c)  Equity.  (i) As partial consideration for entering into this
              Agreement, the Company hereby grants Mr. Wright the right to
              purchase 300,000 shares of the common stock of the Company at
              $3.00 per share (the "Stock Options").  The Stock Options shall
              vest ratably over the initial three year term of this Agreement
              (i.e. 8,333.333 per month for 36 months), or earlier if Mr.
              Wright's employment is terminated without cause or for good reason
              (as described in Section 4 hereof) or earlier due to a change in
              control, sale of a majority of the common stock or substantially
              all of the assets of the Company or merger of the Company into or
              with another company (unless such company is less than 33% of the
              size (measured by market value) of the Company).  The Stock
              Options must be exercised by the fifth anniversary of the date of
              vesting or shall be forfeited by Mr. Wright.  The number, kind and
              strike price of the Stock Options shall be appropriately and
              equitably adjusted to reflect any stock dividend, stock split,
              spin-off, split-off, extraordinary cash dividend,
              recapitalization, reclassification or other major corporate action
              affecting the stock of the Company to the end that after such
              event Mr. Wright's proportionate interest in the Company shall be
              maintained as before the occurrence of such event.

              (ii)  If the Company proposes to sell or permit the transfer of
              stock amounting in the aggregate to 50% or more of the outstanding
              capitalization of the Company, then Mr. Wright shall have the
              right to require the proposed purchaser to purchase from him the
              shares of stock underlying any of the Stock Options, and any
              unvested Stock Options shall become vested. Such sale by Mr.
              Wright shall be at the same price and on the same terms and
              conditions of the sale of stock triggering Mr. Wright's right of
              sale. The Company shall cause Mr. Wright to be actually notified
              of any proposed sale of stock and the terms and conditions of such
              proposed sale covered by this Section 5(c)(ii) not less than 30
              days prior to the date of consummation of the sale.

              (iii) If the Company proposes to file a registration statement
              with the U.S. Securities and Exchange Commission, or comparable
              non-U.S. regulatory authority, relating to the offer or sale of
              stock of the Company to the public, the Company shall cover under
              such registration statement, for the benefit of Mr. Wright, the
              sale by Mr. Wright of the stock of the Company underlying the
              Stock Options, and shall take such other actions as are necessary
              or desirable

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              for the stock of the Company underlying the Stock Options to be
              freely salable by Mr. Wright (subject to any restrictions imposed
              by the underwriters of such stock offering).

              (iv) In addition to the Stock Options, Mr. Wright shall be
              entitled to receive additional awards under any other stock option
              or equity based incentive compensation plan or arrangement adopted
              by the Company during the Employment Period for which senior
              executives are eligible. The level of Mr. Wright's participation
              in any such plan or arrangement shall be in the sole discretion of
              the Company's Board of Directors and/or Chief Executive Officer,
              as appropriate.

         (d)  Other Benefits. During the Employment Period, Mr. Wright shall be
              entitled to participate in all of the employee benefit plans,
              programs and arrangements of the Company in effect during the
              Employment Period which are generally available to senior
              executives of the Company, subject to and on a basis consistent
              with the terms, conditions and overall administration of such
              plans, programs and arrangements. In addition, during the
              Employment Period, Mr. Wright shall be entitled to fringe benefits
              and perquisites comparable to those of other senior executives of
              the Company, including, but not limited to, 12 days of vacation
              pay per year plus 1 sick/personal day, to be used in accordance
              with the Company's vacation pay policy for senior executives.

         (e)  Business Expenses.  During the Employment Period, the Company
              shall promptly reimburse Mr. Wright for all appropriately
              documented, reasonable business expenses incurred by Mr. Wright in
              the performance of his duties under this Agreement.

         (g)  Relocation Expenses. The Company shall promptly reimburse Mr.
              Wright for all appropriately documented relocation expenses,
              including the cost of moving himself and his wife and their
              personal property to Florida and the cost of any initial broker's
              fees for Mr. Wright's apartment, condominium or other dwelling in
              Florida, in aggregate up to $5,000. Additionally, the Company
              shall provide Mr. Wright with up to six (6) weeks free housing in
              a Company provided apartment (or hotel, if an apartment is
              unavailable) during the time that Mr. Wright and his family is
              looking for permanent housing in the Sarasota area.

         (h)  Support Services. The Company shall provide to Mr. Wright an
              office, appropriate for his position with the Company, and
              secretarial and other business services at the Company's primary
              executive offices. Such offices shall be located within 10 miles
              of Sarasota, Florida. Additionally, Mr. Wright shall have the use
              of a company provided wireless telephone for business use on the
              ATT plan with 1000 minutes usage per month including long distance
              costs.

         (i)  Prior introductions and advisory services.  The Company shall
              compensate Mr. Wright, in addition to other compensation under
              this Agreement, for the successful completion of certain projects
              which Mr. Wright began prior to his joining the Company full time.
              The amount of such compensation shall be that which Mr. Wright was
              entitled to under his consulting contract with the Company dated
              March 30, 1999.  The projects for which Mr. Wright shall be
              entitled to additional compensation are:  (1) capital raised for
              the Company by National Capital prior to March 15, 2000; (2)
              investment by Bruce Waldack prior to January 31, 2000,  and (3)
              transactions completed (including investments) by parties on or
              prior to December 7, 1999, including those investments made by
              Paul Mannion and certain of his associates, for which Mr. Wright
              would otherwise have been eligible to receive compensation under
              his consulting contract.  Except as set forth in this paragraph,
              the consulting portion of Mr. Wright's March 30 contract shall
              otherwise terminate on December 8, 1999 (however, the board of
              directors provisions shall not).

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4.       Termination of Employment

         (a)  Termination for Cause.  The Company may terminate Mr. Wright's
              employment hereunder for cause.  For purposes of this Agreement
              and subject to Mr. Wright's opportunity to cure as provided in
              Section 4(c) hereof, the Company shall have "cause" to terminate
              Mr. Wright's employment hereunder if such termination shall be the
              result of:

              (i)   willful fraud or material dishonesty in connection with Mr.
                    Wright's performance hereunder;
              (ii)  the deliberate or intentional failure by Mr. Wright to
                    substantially perform his duties hereunder that results in
                    material harm to the Company; or
              (iii) the conviction for, or plea of nolo contendere to a charge
                    of, commission of a felony.

         (b)  Termination for Good Reason.  Mr. Wright shall have the right at
              any time to terminate his employment with the Company for any
              reason.  For purposes of this Agreement and subject to the
              Company's opportunity to cure as provided in Section 4(c) hereof,
              Mr. Wright shall have "good reason" to terminate his employment
              hereunder if such termination shall be the result of:

              (i)   a material diminution during the Employment Period in the
                    Executive's duties, responsibilities, reporting relationship
                    or title as set forth in Section 2 hereof;
              (ii)  a breach by the Company of the compensation and benefits
                    provisions set forth in Section 3 hereof;
              (iii) a material breach by the Company of any of the terms of this
                    Agreement, other than as specifically provided herein; or
              (iv)  notice by the Company of non-renewal of the Agreement
                    pursuant to Section 1 hereof.

         (c)  Notice and Opportunity to Cure.  Notwithstanding the foregoing, it
              shall be a condition precedent to the Company's right to terminate
              Mr. Wright's employment for "cause" and Mr. Wright's right to
              terminate his employment for "good reason" that (1) the party
              seeking termination shall first have given the other party written
              notice stating with specificity the reason for the termination
              ("breach") and (2) if such breach is susceptible of cure or
              remedy, a period of thirty days from and after the giving of such
              notice shall have elapsed without the breaching party having
              effectively cured or remedied such breach during such 30-day
              period, unless such breach cannot be cured or remedied within
              thirty days, in which case the period for remedy or cure shall be
              extended for a reasonable time (not to exceed thirty days)
              provided the breaching party has made and continues to make a
              diligent effort to effect such remedy or cure.

         (d)  Termination Upon Death or Permanent and Total Disability.  The
              Employment Period shall be terminated by the death of Mr. Wright.
              The Employment Period may be terminated by the Board of Directors
              if Mr. Wright shall be rendered incapable of performing his duties
              to the Company by reason of any medically determined physical or
              mental impairment that can be reasonably expected to result in
              death or that can be reasonably expected to last for a period of
              either (1) six or more consecutive months from the first date of
              Mr. Wright's absence due to the disability or (2) nine months
              during any twelve-month period (a "Permanent and Total
              Disability").  If the Employment Period is terminated by reason of
              Permanent and Total Disability of Mr. Wright, the Company shall
              give 30 days' advance written notice to that effect to Mr. Wright.

5.       Consequences of Termination.

         (a)  Without Cause or for Good Reason. In the event of a termination of
              Mr. Wright's employment during the Employment Period by the
              Company other than for "cause" (as

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<PAGE>

              provided for in Section 4(a) hereof), by Mr. Wright for "good
              reason" (as provided for in Section 4(b) hereof) or due to death
              or disability (as provided for in Section 4(d) hereof) the Company
              shall pay Mr. Wright (or his estate) and provide him with the
              following:

              (i)   Lump-Sum Payment.  A lump-sum cash payment, payable within
                    30 days after Mr. Wright's termination of employment, equal
                    to the sum of the following:

                    (A)  Salary.  The equivalent of six months (the "Severance
                         Period") of Mr. Wright's then-current base salary; plus

                    (B)  Earned but Unpaid Amounts. Any previously earned but
                         unpaid salary through Mr. Wright's final date of
                         employment with the Company, and any previously earned
                         but unpaid bonus amounts for any completed fiscal year
                         prior to the date of Mr. Wright's termination of
                         employment.

              (ii)  Equity. Mr. Wright shall have 12 months from the date of a
                    termination of his employment that is subject to this
                    Section 5 to exercise any stock options granted to him
                    during the Employment Period. All unvested stock options
                    shall vest upon a termination without cause, for good reason
                    or due to death or disability.

              (iii) Other Benefits.  The Company shall provide continued
                    coverage for the Severance Period under all health, life,
                    disability and similar employee benefit plans and programs
                    of the Company on the same basis as Mr. Wright was entitled
                    to participate immediately prior to such termination,
                    provided that Mr. Wright's continued participation is
                    possible under the general terms and provisions of such
                    plans and programs.  In the event that Mr. Wright's
                    participation in any such plan or program is barred, the
                    Company shall arrange to provide Mr. Wright with benefits
                    substantially similar (including all tax effects) to those
                    which Mr. Wright would otherwise have been entitled to
                    receive under such plans and programs from which his
                    continued participation is barred.  In the event that Mr.
                    Wright is covered under substitute benefit plans of another
                    employer prior to the expiration of the Severance Period,
                    the Company will no longer be obligated to continue the
                    coverages provided for in this Section 5(a)(iii).

         (b)  Other Termination of Employment. In the event that Mr. Wright's
              employment with the Company is terminated during the Employment
              Period by the Company for "cause" (as provided for in Section 4(a)
              hereof) or by Mr. Wright other than for "good reason" (as provided
              for in Section 4(b) hereof), the Company shall pay Mr. Wright any
              earned but unpaid salary and annual bonus amounts for any
              completed fiscal year prior to the date of Mr. Wright's
              termination of employment, but only to the extent such amounts are
              payable in accordance with the terms of any such bonus plan,
              through Mr. Wright's final date of employment with the Company,
              and the Company shall have no further obligations to Mr. Wright.

         (c)  Withholding of Taxes. All payments required to be made by the
              Company to Mr. Wright under this Agreement shall be subject only
              to the withholding of such amounts, if any, relating to tax,
              excise tax and other payroll deductions as may be required by law
              or regulation.

         (d)  No Other Obligations. The benefits payable to Mr. Wright under
              this Agreement are not in lieu of any benefits payable under any
              employee benefit plan, program or arrangement of the Company,
              except as provided specifically herein, and upon termination Mr.
              Wright will receive such benefits or payments, if any, as he may
              be entitled to receive pursuant to the terms of such plans,
              programs and arrangements. Except for the obligations of the
              Company

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<PAGE>

              provided by the foregoing and this Section 5, the Company
              shall have no further obligations to Mr. Wright upon his
              termination of employment.

         (e)  No Mitigation or Offset.  Mr. Wright shall have no obligation to
              mitigate the damages provided by this Section 5 by seeking
              substitute employment or otherwise and there shall be no offset of
              the payments or benefits set forth in this Section 5 except as
              provided in Section 5(a)(iii).

6.       Change in Control Agreement.

         (a)  Termination Protection. In the event of the termination of Mr.
              Wright's employment without "cause" (as provided for in Section
              4(a) hereof) or for "good reason" (as provided for in Section 7(c)
              hereof) following a change in control, Mr. Wright shall be
              entitled to receive the payments and benefits set forth in Section
              5(a)(i) through (iii) above.

         (b)  For purposes of this Agreement, a "change in control" shall be
              deemed to have occurred if and when:

              (i)   individuals who at the date hereof constitute the entire
                    Board of Directors of the Company (the "Board") and any new
                    directors whose election by the Board, or whose nomination
                    for election by the Company's stockholders, shall have been
                    approved by a vote of at least a majority of the directors
                    then in office who either were directors at the date hereof
                    or whose election or nomination for election shall have been
                    so approved shall cease for any reason to constitute a
                    majority of the members of the Board;

              (ii)  any person (as such term is used in Sections 13(d) and
                    14(d)(2) of the Securities Exchange Act of 1934, as amended
                    (the "Exchange Act") shall after the date hereof become the
                    beneficial owner (as defined in Rules 13d-3 and 13d-5 under
                    the Exchange Act), directly or indirectly, of securities of
                    the Company representing 30% or more of the voting power of
                    all then outstanding securities of the Company having the
                    right under ordinary circumstances to vote in an election of
                    the Board (including, without limitation, any securities of
                    the Company that any such person has the right to acquire
                    pursuant to any agreement, or upon exercise of conversion
                    rights, warrants or options, or otherwise, shall be deemed
                    beneficially owned by such person);

              (iii) there shall be consummated any corporate transaction,
                    including a consolidation or merger, of the Company in which
                    the Company is not the continuing or surviving corporation
                    or pursuant to which shares of the Company's capital stock
                    are converted into cash, securities or other property, other
                    than a consolidation or merger of the Company in which the
                    holders of the Company's voting stock immediately prior to
                    the consolidation or merger shall, upon consummation of the
                    consolidation or merger, own at least 50% of the voting
                    stock; or

              (iv)  there shall be consummated any sale, lease, exchange or
                    transfer (in any single transaction or series of related
                    transactions) of all or substantially all of the assets or
                    business of the Company.

7.       Indemnity and Insurance.

         The Company shall, to the fullest extent permitted by law and by its
         Certificate of Incorporation and By-laws, indemnify Mr. Wright and hold
         him harmless for any acts or decisions made by him while performing his
         duties pursuant to this Agreement, unless such acts or decisions are
         made in

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         bad faith or are intentionally harmful to the welfare of the
         Company. The Company shall also, to the fullest extent permitted by law
         and by its Certificate of Incorporation and By-laws, indemnify Mr.
         Wright and hold him harmless from any legal fees or expenses incurred
         by Mr. Wright arising out of his good faith service as an officer or
         agent of the Company.

         The Company shall provide that Mr. Wright is covered by any Directors'
         and Officers' insurance that the Company provides to other senior
         executives.

8.       Notice.

         All notices, requests and other communications pursuant to this
         Agreement shall be sent by e-mail:

         If to Mr. Wright:          jwright22@msn.com

         If to the Company:         mmc@speedlan.com

9.       Waiver of Breach.

         Any waiver of any breach of this Agreement shall not be construed to be
         a continuing waiver or consent to any subsequent breach on the part of
         either Mr. Wright or of the Company.

10.      Non-assignment; Successors.

         Neither party hereto may assign his or its rights or delegate his or
         its duties under this Agreement without the prior written consent of
         the other party; provided, however, that (i) this Agreement shall inure
         to the benefit of and be binding upon the successors and assigns of the
         Company upon any sale of all or substantially all of the Company's
         assets, or upon any merger, consolidation or reorganization of the
         Company with or into any other corporation, all as though such
         successors and assigns of the Company and their respective successors
         and assigns were the Company; and (ii) this Agreement shall inure to
         the benefit of and be binding upon the heirs, assigns or designees of
         Mr. Wright to the extent of any payments due to them hereunder. As used
         in this Agreement, the term "Company" shall be deemed to refer to any
         such successor or assign of the Company referred to in the preceding
         sentence.

11.      Severability.

         To the extent any provision of this Agreement or portion thereof shall
         be invalid or unenforceable, it shall be considered deleted therefrom
         and the remainder of such provision and of this Agreement shall be
         unaffected and shall continue in full force and effect.

12.      Counterparts.

         This Agreement may be executed in one or more counterparts, each of
         which shall be deemed to be an original but all of which together will
         constitute one and the same instrument.

13.      Noncompetition; Nonsolicitation

         Mr. Wright agrees that for a period of six months after the termination
         of his employment with the Company (the "Noncompetition Period"),
         unless Mr. Wright is terminated without "cause" or he terminates for
         "good reason" (in which case Mr. Wright shall not be subject to this
         section 13), Mr. Wright will not act as a consultant, officer or
         employee of a company engaged in manufacturing, servicing or selling
         wireless telecommunications products to commercial entities (a
         "Competing Activity"). Mr. Wright also agrees during the Noncompetition
         Period and for one year thereafter, if any, not to solicit or recruit
         any employees of the Company to join any other

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         company or engage in a Competing Activity or to solicit or recruit a
         substantial number of employees to work with any company with whom Mr.
         Wright is associated if the departure of the solicited or recruited
         employees from the Company would materially harm the Company.

14.      Entire Agreement.

         This Agreement constitutes the entire agreement by the Company and Mr.
         Wright with respect to the subject matter hereof and except as
         specifically provided herein, supersedes any and all prior agreements
         or understandings between Mr. Wright and the Company with respect to
         the subject matter hereof, whether written or oral. This Agreement may
         be amended or modified only by a written instrument executed by Mr.
         Wright and the Company.

      IN WITNESS WHEREOF, the parties have executed this Agreement as of
November 18, 1999.

Jay O. Wright                        Speedcom Wireless International Corporation

______________________               By_________________________________________

                                     Its:_______________________________________

                                       8EXHIBIT 10.5

                         Executive Employment Agreement

         This Executive Employment Agreement (this "Agreement") is made as of
the ___ day of July, 2000 by and between Speedcom Wireless International
Corporation, a Florida corporation (the "Company") and Bruce Sanguinetti, a
natural person, ("Mr. Sanguinetti").

         WHEREAS, Mr. Sanguinetti has served as a director of the Company since
1999;

         WHEREAS, the Company wishes to employ Mr. Sanguinetti as its President
and as its President and CEO of its to be formed licensed wireless division;

         WHERAS, the Company and Mr. Sanguinetti wish to set forth the terms of
Mr. Sanguinetti's employment and certain additional agreements between Mr.
Sanguinetti and the Company,

         NOW, THEREFORE, in consideration of the foregoing recitals and the
representations, covenants and terms contained herein, the parties hereto agree
as follows:

1.       Employment Period

         The Company will employ Mr. Sanguinetti, and Mr. Sanguinetti will serve
         the Company, under the terms of this Agreement for an initial term of
         three years commencing as of September 1, 2000 (the "Commencement
         Date"). On the third anniversary of the Commencement Date and on each
         anniversary date thereafter, the term of this Agreement shall
         automatically be extended for an additional period of twelve months;
         provided, however, that either party hereto may elect not to so extend
         this Agreement by giving written notice to the other party at least 60
         days prior to such anniversary date. Notwithstanding the foregoing, Mr.
         Sanguinetti's employment hereunder may be earlier terminated, subject
         to Section 5 hereof. The period of time between the commencement and
         the termination of Mr. Sanguinetti's employment hereunder shall be
         referred to herein as the "Employment Period."

2.       Duties and Status

         The Company hereby engages Mr. Sanguinetti as its President and a
         member of the Company's Executive Committee on the terms and conditions
         set forth in this Agreement. In addition, Mr. Sanguinetti will remain a
         member of the company's board of directors during the employment
         period, under the terms of the separate agreement, dated October 1st,
         1999. During the Employment Period, Mr. Sanguinetti shall report to the
         Board of Directors of the Company and exercise such authority, perform
         such executive duties and functions, and discharge such
         responsibilities as are reasonably associated with Mr. Sanguinetti's
         position, commensurate with the authority vested in Mr. Sanguinetti
         pursuant to this Agreement and consistent with the governing documents
         of the Company (which will be provided under separate cover). These
         duties include, but may not be limited to, (i) helping set and
         implement the strategic vision of the Holding Company and/or the
         various operating companies and/or divisions, (ii) managing the day to
         day business of the licensed wireless division of the Company, (iii)
         identifying acquisition targets, suppliers and potential joint venture
         for the Company and (iv) such other functions as are set out on
         Schedule 1 attached hereto. Mr. Sanguinetti shall work with the
         Company's Directors to determine what additional responsibilities Mr.
         Sanguinetti shall perform, commensurate with Mr. Sanguinetti's position
         as the President of the Company.

         During the Employment Period, Mr. Sanguinetti shall devote
         substantially all of his business time (minimum of 5 days per week),
         skill and efforts to the business of the Company. Notwithstanding the
         preceding sentence, Mr. Sanguinetti may make and manage personal
         business investments of his choice and serve on up to three other
         corporations (not counting the Company or any affiliates of the
         Company) of his choice and serve in any capacity with any civic,
         educational or charitable organization, or any trade association,
         without seeking or obtaining the approval of the Board of Directors,
         provided such activities and service do not materially interfere or
         conflict with the performance of his duties hereunder.

<PAGE>

3.       Compensation and Benefits

         (a)  Salary. During the Employment Period, the Company shall pay to Mr.
              Sanguinetti, as compensation for the performance of his duties and
              obligations under this Agreement, a base salary of US $180,000 per
              annum, payable in arrears not less frequently than monthly in
              accordance with the normal payroll practices of the Company. Such
              base salary shall be subject to review each year for possible
              increase by the Board of Directors in its sole discretion, but
              shall in no event be decreased from its then existing level during
              the Employment Period.

         (b)  Annual Bonus.  During the Employment Period, Mr. Sanguinetti shall
              have the opportunity to earn an annual bonus in accordance with
              existing and/or future Company annual bonus program(s) for senior
              executives.  The terms of any such bonus program shall be as set
              forth and as determined in the sole discretion of the Board of
              Directors, as determined by corporate policy.  Mr. Sanguinetti is
              not guaranteed a bonus in any particular year.  In the event that
              the Company has not instituted an annual bonus program, Mr.
              Sanguinetti may still earn a bonus at the discretion of the
              independent Board of Directors of the Company.

         (c)  Equity. (i) As partial consideration for entering into this
              Agreement, the Company  hereby grants to Mr. Sanguinetti the right
              and option to purchase, on the terms and conditions hereinafter
              set forth, an aggregate 210,000 shares of the Company's common
              stock. The purchase price (strike price) shall be $4.00 per share.
              The option granted to Mr. Sanguinetti hereunder, is in addition to
              that stock option for the purchase of 90,000 shares of stock
              granted to Mr. Sanguinetti at a price of $3.00 per share, pursuant
              to that agreement dated October 1, 1999.  On September 1, 2000,
              Mr. Sanguinetti shall have the vested right  to purchase from the
              Company 5845 of the 210,000 aggregate number of shares.  From and
              after October 1, 2000, and during each of the 35 months
              thereafter, Mr. Sanguinetti shall have the vested right to
              purchase each month 5833 of the 210,000 aggregate number of
              shares. The purchase shall be made upon delivery to the Company of
              a notice of exercise accompanied by payment of the option price.
              Promptly upon receipt of such notice and payment, the Company will
              deliver to Mr. Sanguinetti stock certificate(s) representing the
              number of shares purchased in accordance with the foregoing, duly
              registered in the name of Mr. Sanguinetti and, at Mr.
              Sanguinetti's election, his spouse.  The failure to exercise an
              option with respect to any shares of the Company's common stock
              for which the right has accrued shall not result in the
              termination of the option with respect to such shares of stock;
              rather, the same shall cumulate and be eligible for exercise for a
              period of 5 years from the date of vesting. 50% of the unvested
              options shall vest immediately , due to a change in control, sale
              of a majority of the common stock or substantially all of the
              assets of the Company or merger of the Company into or with
              another company (unless such company is less than 33 % of the size
              (measured by market value) of the Company, in which case no early
              vesting shall occur).

              (ii) If the Company proposes to sell or permit the transfer of
              stock amounting in the aggregate to 50% or more of the outstanding
              capitalization of the Company, then Mr. Sanguinetti shall have the
              right to require the proposed purchaser to purchase from him the
              shares of stock underlying any of the vested Stock Options. Such
              sale by Mr. Sanguinetti shall be at the same price and on the same
              terms and conditions of the sale of stock triggering Mr.
              Sanguinetti's right of sale. The Company shall cause Mr.
              Sanguinetti to be actually notified of any proposed sale of stock
              and the terms and conditions of such proposed sale covered by this
              Section 5(c)(ii) not less than 30 days prior to the date of
              consummation of the sale.

              (iii) If the Company proposes to file a registration statement
              with the U.S. Securities and Exchange Commission, or comparable
              non-U.S. regulatory authority, relating to the offer or sale of
              stock of the Company to the public, the Company shall cover under
              such registration statement, for the benefit of Mr. Sanguinetti,
              the sale by Mr. Sanguinetti of the stock of the Company underlying
              the Stock Options, and shall take such other actions as are
              necessary or

                                       2
<PAGE>

              desirable for the stock of the Company underlying the Stock
              Options to be freely salable by Mr. Sanguinetti (subject to
              any restrictions imposed by the underwriters of such stock
              offering).

              (iv) In addition to the Stock Options, Mr. Sanguinetti shall be
              entitled to receive additional awards under any other stock option
              or equity based incentive compensation plan or arrangement adopted
              by the Company during the Employment Period for which senior
              executives are eligible. The level of Mr. Sanguinetti's
              participation in any such plan or arrangement shall be in the sole
              discretion of the Company's Board of Directors.

          (c) Other Benefits.  During the Employment Period, Mr. Sanguinetti
              shall be entitled to participate in all of the employee benefit
              plans, programs and arrangements of the Company in effect during
              the Employment Period, including but not limited to; company paid
              medical insurance, dental insurance, life insurance, etc., which
              are generally available to senior executives of the Company,
              subject to and on a basis consistent with the terms, conditions
              and overall administration of such plans, programs and
              arrangements.  In addition, during the Employment Period, Mr.
              Sanguinetti shall be entitled to fringe benefits and perquisites
              comparable to those of other senior executives of the Company,
              including, but not limited to, 15 days of vacation pay per year
              plus 3 sick plus 1 personal day,  to be used in accordance with
              the Company's vacation pay policy for senior executives.  Also,
              Mr. Sanguinetti will be entitled to participate in the company's
              paid holiday schedule, currently seven paid holidays per year, but
              may change slightly from year to year.

         (d)  Business Expenses. During the Employment Period, the Company shall
              promptly reimburse Mr. Sanguinetti for all appropriately
              documented, reasonable business expenses, including but not
              limited to air travel, hotel accommodations, personal meals,
              airport parking and transportation, taxi and rental car,
              entertainment, business use of personal car (currently $.32 per
              mile), etc., incurred by Mr. Sanguinetti in the performance of his
              duties under this Agreement.

         (g)  Support Services. The Company shall provide to Mr. Sanguinetti an
              office, appropriate for his position with the Company, and
              secretarial, technical (engineering) (to the extent available on
              reasonable terms), and other business services at his office in
              San Diego In addition, the company shall provide for suitable
              office space in the corporate headquarter facility to be used by
              Mr. Sanguinetti when working at the headquarter facility.
              Additionally, Mr. Sanguinetti shall have the use of a company
              provided wireless telephone for business use on the ATT plan, or
              other comparable plan from a major wireless carrier, with 1000
              minutes usage per month including long distance costs.

4.       Termination of Employment

         (a)  Termination for Cause.  The Company may terminate Mr.
              Sanguinetti's employment hereunder for cause.  For purposes of
              this Agreement and subject to Mr. Sanguinetti's opportunity to
              cure as provided in Section 4(c) hereof, the Company shall have
              "cause" to terminate Mr. Sanguinetti's employment hereunder if
              such termination shall be the result of:

              (i)   willful fraud or material dishonesty in connection with Mr.
                    Sanguinetti's performance hereunder;
              (ii)  the deliberate or intentional failure by Mr. Sanguinetti to
                    substantially perform his duties hereunder that results in
                    material harm to the Company; or
              (iii) the conviction for, or plea of nolo contendere to a charge
                    of, commission of a felony.

         (b)  Termination for Good Reason.  Mr. Sanguinetti shall have the right
              at any time to terminate his employment with the Company for any
              reason.  For purposes of this Agreement and subject to the
              Company's opportunity to cure as provided in Section 4(c) hereof,
              Mr. Sanguinetti shall have "good reason" to terminate his
              employment hereunder if such termination shall be the result of:

                                       3
<PAGE>

              (i)   a material diminution during the Employment Period in the
                    Executive's duties, responsibilities, reporting relationship
                    or title as set forth in Section 2 hereof;
              (ii)  a breach by the Company of the compensation and benefits
                    provisions set forth in Section 3 hereof; (iii) a material
                    breach by the Company of any of the terms of this Agreement,
                    other than as specifically provided herein; or (iv) notice
                    by the Company of non-renewal of the Agreement pursuant to
                    Section 1 hereof.

         (c)  Notice and Opportunity to Cure.  Notwithstanding the foregoing, it
              shall be a condition precedent to the Company's right to terminate
              Mr. Sanguinetti's employment for "cause" and Mr. Sanguinetti's
              right to terminate his employment for "good reason" that (1) the
              party seeking termination shall first have given the other party
              written notice stating with specificity the reason for the
              termination ("breach") and (2) if such breach is susceptible of
              cure or remedy, a period of thirty days from and after the giving
              of such notice shall have elapsed without the breaching party
              having effectively cured or remedied such breach during such 30-
              day period, unless such breach cannot be cured or remedied
              within thirty days, in which case the period for remedy or cure
              shall be extended for a reasonable time (not to exceed thirty
              days) provided the breaching party has made and continues to make
              a diligent effort to effect such remedy or cure.

         (d)  Termination Upon Death or Permanent and Total Disability.  The
              Employment Period shall be terminated by the death of Mr.
              Sanguinetti.  The Employment Period may be terminated by the Board
              of Directors if Mr. Sanguinetti shall be rendered incapable of
              performing his duties to the Company by reason of any medically
              determined physical or mental impairment that can be reasonably
              expected to result in death or that can be reasonably expected to
              last for a period of either (1) six or more consecutive months
              from the first date of Mr. Sanguinetti's absence due to the
              disability or (2) nine months during any twelve-month period (a
              "Permanent and Total Disability").  If the Employment Period is
              terminated by reason of Permanent and Total Disability of Mr.
              Sanguinetti, the Company shall give 30 days' advance written
              notice to that effect to Mr. Sanguinetti.

5.       Consequences of Termination.

         (a)  Without Cause or for Good Reason. In the event of a termination of
              Mr. Sanguinetti's employment during the Employment Period by the
              Company other than for "cause" (as provided for in Section 4(a)
              hereof), by Mr. Sanguinetti for "good reason" (as provided for in
              Section 4(b) hereof) or due to death or disability (as provided
              for in Section 4(d) hereof) the Company shall pay Mr. Sanguinetti
              (or his estate) and provide him with the following:

              (i)   Lump-Sum Payment.  A lump-sum cash payment, payable within
                    30 days after Mr. Sanguinetti's termination of employment,
                    equal to the sum of the following:

                    (A)  Salary.  The equivalent of twelve months (the
                         "Severance Period") of Mr. Sanguinetti's then-current
                         base salary; plus

                    (B)  Earned but Unpaid Amounts. Any previously earned but
                         unpaid salary through Mr. Sanguinetti's final date of
                         employment with the Company, and any previously earned
                         but unpaid bonus amounts for any completed fiscal year
                         prior to the date of Mr. Sanguinetti's termination of
                         employment.

              (ii)  Equity. Mr. Sanguinetti shall have 12 months from the date
                    of a termination of his employment that is subject to this
                    Section 5 to exercise any stock options granted to him
                    during the Employment Period. All unvested stock options
                    shall vest upon a termination without cause, for good reason
                    or due to death or disability.

              (iii) Other Benefits.  The Company shall provide continued
                    coverage for the Severance Period under all health, life,
                    disability and similar employee benefit plans and

                                       4
<PAGE>

                    programs of the Company on the same basis as Mr. Sanguinetti
                    was entitled to participate immediately prior to such
                    termination, provided that Mr. Sanguinetti's continued
                    participation is possible under the general terms and
                    provisions of such plans and programs.  In the event that
                    Mr. Sanguinetti's participation in any such plan or program
                    is barred, the Company shall arrange to provide Mr.
                    Sanguinetti with benefits substantially similar (including
                    all tax effects) to those which Mr. Sanguinetti would
                    otherwise have been entitled to receive under such plans and
                    programs from which his continued participation is barred.
                    In the event that Mr. Sanguinetti is covered under
                    substitute benefit plans of another employer prior to the
                    expiration of the Severance Period, the Company will no
                    longer be obligated to continue the coverages provided for
                    in this Section 5(a)(iii).

         (b)  Other Termination of Employment. In the event that Mr.
              Sanguinetti's employment with the Company is terminated during the
              Employment Period by the Company for "cause" (as provided for in
              Section 4(a) hereof) or by Mr. Sanguinetti other than for "good
              reason" (as provided for in Section 4(b) hereof), the Company
              shall pay Mr. Sanguinetti any earned but unpaid salary and annual
              bonus amounts for any completed fiscal year prior to the date of
              Mr. Sanguinetti's termination of employment, but only to the
              extent such amounts are payable in accordance with the terms of
              any such bonus plan, through Mr. Sanguinetti's final date of
              employment with the Company, and the Company shall have no further
              obligations to Mr. Sanguinetti.

         (c)  Withholding of Taxes. All payments required to be made by the
              Company to Mr. Sanguinetti under this Agreement shall be subject
              only to the withholding of such amounts, if any, relating to tax,
              excise tax and other payroll deductions as may be required by law
              or regulation.

         (d)  No Other Obligations. The benefits payable to Mr. Sanguinetti
              under this Agreement are not in lieu of any benefits payable under
              any employee benefit plan, program or arrangement of the Company,
              except as provided specifically herein, and upon termination Mr.
              Sanguinetti will receive such benefits or payments, if any, as he
              may be entitled to receive pursuant to the terms of such plans,
              programs and arrangements. Except for the obligations of the
              Company provided by the foregoing and this Section 5, the Company
              shall have no further obligations to Mr. Sanguinetti upon his
              termination of employment.

         (e)  No Mitigation or Offset.  Mr. Sanguinetti shall have no obligation
              to mitigate the damages provided by this Section 5 by seeking
              substitute employment or otherwise and there shall be no offset of
              the payments or benefits set forth in this Section 5 except as
              provided in Section 5(a)(iii).

6.       Change in Control Agreement.

         (a)  Termination Protection. In the event of the termination of Mr.
              Sanguinetti's employment without "cause" (as provided for in
              Section 4(a) hereof) or for "good reason" (as provided for in
              Section 7(c) hereof) following a change in control, Mr.
              Sanguinetti shall be entitled to receive the payments and benefits
              set forth in Section 5(a)(i) through (iii) above.

         (b)  For purposes of this Agreement, a "change in control" shall be
              deemed to have occurred if and when:

              (i)   individuals who at the date hereof constitute the entire
                    Board of Directors of the Company (the "Board") and any new
                    directors whose election by the Board, or whose nomination
                    for election by the Company's stockholders, shall have been
                    approved by a vote of at least a majority of the directors
                    then in office who either were directors at the date hereof
                    or whose election or nomination for election shall have been
                    so approved shall cease for any reason to constitute a
                    majority of the members of the Board;

                                       5
<PAGE>

              (ii)  any person (as such term is used in Sections 13(d) and
                    14(d)(2) of the Securities Exchange Act of 1934, as amended
                    (the "Exchange Act") shall after the date hereof become the
                    beneficial owner (as defined in Rules 13d-3 and 13d-5 under
                    the Exchange Act), directly or indirectly, of securities of
                    the Company representing 30% or more of the voting power of
                    all then outstanding securities of the Company having the
                    right under ordinary circumstances to vote in an election of
                    the Board (including, without limitation, any securities of
                    the Company that any such person has the right to acquire
                    pursuant to any agreement, or upon exercise of conversion
                    rights, warrants or options, or otherwise, shall be deemed
                    beneficially owned by such person);

              (iii) there shall be consummated any corporate transaction,
                    including a consolidation or merger, of the Company in which
                    the Company is not the continuing or surviving corporation
                    or pursuant to which shares of the Company's capital stock
                    are converted into cash, securities or other property, other
                    than a consolidation or merger of the Company in which the
                    holders of the Company's voting stock immediately prior to
                    the consolidation or merger shall, upon consummation of the
                    consolidation or merger, own at least 50% of the voting
                    stock; or

              (iv)  there shall be consummated any sale, lease, exchange or
                    transfer (in any single transaction or series of related
                    transactions) of all or substantially all of the assets or
                    business of the Company.

7.       Indemnity and Insurance.

         The Company shall, to the fullest extent permitted by law and by its
         Certificate of Incorporation and By-laws, indemnify Mr. Sanguinetti and
         hold him harmless for any acts or decisions made by him while
         performing his duties pursuant to this Agreement, unless such acts or
         decisions are made in bad faith or are intentionally harmful to the
         welfare of the Company. The Company shall also, to the fullest extent
         permitted by law and by its Certificate of Incorporation and By-laws,
         indemnify Mr. Sanguinetti and hold him harmless from any legal fees or
         expenses incurred by Mr. Sanguinetti arising out of his good faith
         service as an officer or agent of the Company.

         The Company shall provide that Mr. Sanguinetti is covered by any
         Directors' and Officers' insurance that the Company provides to other
         senior executives.

8.       Notice.

         All notices, requests and other communications pursuant to this
         Agreement shall be sent by e-mail:

         If to Mr. Sanguinetti:     b.sanguine@home.com

         If to the Company:         jwright@speedlan.com

9.       Waiver of Breach.

         Any waiver of any breach of this Agreement shall not be construed to be
         a continuing waiver or consent to any subsequent breach on the part of
         either Mr. Sanguinetti or of the Company.

10.      Non-assignment; Successors.

         Neither party hereto may assign his or its rights or delegate his or
         its duties under this Agreement without the prior written consent of
         the other party; provided, however, that (i) this Agreement shall inure
         to the benefit of and be binding upon the successors and assigns of the
         Company upon any sale of all or substantially all of the Company's
         assets, or upon any merger, consolidation or reorganization of the
         Company with or into any other corporation, all as though such
         successors and assigns of the Company and their respective successors
         and assigns were the Company; and (ii) this

                                       6
<PAGE>

         Agreement shall inure to the benefit of and be binding upon the heirs,
         assigns or designees of Mr. Sanguinetti to the extent of any payments
         due to them hereunder. As used in this Agreement, the term "Company"
         shall be deemed to refer to any such successor or assign of the Company
         referred to in the preceding sentence.

11.      Severability.

         To the extent any provision of this Agreement or portion thereof shall
         be invalid or unenforceable, it shall be considered deleted therefrom
         and the remainder of such provision and of this Agreement shall be
         unaffected and shall continue in full force and effect.

12.      Counterparts.

         This Agreement may be executed in one or more counterparts, each of
         which shall be deemed to be an original but all of which together will
         constitute one and the same instrument.

13.      Noncompetition; Nonsolicitation

         Mr. Sanguinetti agrees that for a period of six months after the
         termination of his employment with the Company (the "Noncompetition
         Period"), unless Mr. Sanguinetti is terminated without "cause" or he
         terminates for "good reason" (in which case Mr. Sanguinetti shall not
         be subject to this section 13), Mr. Sanguinetti will not act as a
         consultant, officer or employee of a company engaged in manufacturing,
         servicing or selling wireless telecommunications products to commercial
         entities (a "Competing Activity"). Mr. Sanguinetti also agrees during
         the Noncompetition Period and for one year thereafter, if any, not to
         solicit or recruit any employees of the Company to join any other
         company or engage in a Competing Activity or to solicit or recruit a
         substantial number of employees to work with any company with whom Mr.
         Sanguinetti is associated if the departure of the solicited or
         recruited employees from the Company would materially harm the Company.
         MR. SANGUINETTI EXPRESSLY AGREES THAT THIS SECTION SHALL BE GOVERNED BY
         FLORIDA LAW AND THAT HIS OPTION VESTING SHALL BE RENDERED NULL AND VOID
         TO THE EXTENT THAT HE COMPETES WITH THE COMPANY DURING THE
         NONCOMPETITION PERIOD. MR. SANGUINETTI AGREES TO INDEMNIFY THE COMPANY
         FOR ANY DAMAGE IT INCURS DUE TO MR. SANGUINETTI'S COMPETITION WITH THE
         COMPANY DURING THE NONCOMPETITION PERIOD.

14.      Entire Agreement.

         This Agreement constitutes the entire agreement by the Company and Mr.
         Sanguinetti with respect to the subject matter hereof and except as
         specifically provided herein, supersedes any and all prior agreements
         or understandings between Mr. Sanguinetti and the Company with respect
         to the subject matter hereof, whether written or oral. This Agreement
         may be amended or modified only by a written instrument executed by Mr.
         Sanguinetti and the Company.

15.      Should any legal or equitable action be taken by either party arising
         out of or relating to the rights and duties under this agreement, or to
         enforce or interpret the terms of this agreement, the prevailing party
         in such action shall be entitled to an award of reasonable attorneys
         fees and costs of suit, in addition to any other relief to which such
         party may be entitled.

      IN WITNESS WHEREOF, the parties have executed this Agreement as of July
____, 2000.

Bruce Sanguinetti                    Speedcom Wireless International Corporation

______________________               By_________________________________________

                                     Its:_______________________________________

                                       7
<PAGE>

                                   Schedule 1

a.       Assist in targeting and closing on Strategic Accounts including ISPs,
         VARs/Systems Integrators, CLECs,  mass distributors

b.       Public relations: editor contact, assist in placing articles, case
         studies and the like.

c.       Investor relations:  Work with and assist IR firm, contact industry
         analysts and other financial community professionals to promote the
         company

d.       Hiring:   Strategic personnel including, technical, VP Sales,
         strategic/major account sales in US and International markets

e.       Business development:  Work with Jay , Mike and Patrick to identify
         acquisition candidates for complementary technologies, business and
         strategic relationships that can rapidly grow the business

f.       Strategic planning:  Assist in setting direction on vision, and
         identify market opportunities to grow the company

g.       Develop Installguys.com management, help build strategic relationships
         to provide services with industry manufacturers

h.       Technology and development:  Assist with building strategic
         relationships to license, acquire or build the next generation of
         leading products for wireless IP interconnect

h.       Primarily oversee and/or manage west coast technology and/or company
         acquisitions.

                                       8

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