Document:

<PAGE>

                                                                     Exhibit 4.6

                         REGISTRATION RIGHTS AGREEMENT

          THIS REGISTRATION RIGHTS AGREEMENT, dated as of March 2, 2001 (this
"Agreement"), is made by and between SPEEDCOM WIRELESS CORPORATION, a Delaware
corporation, with headquarters located at 1748 Independence Blvd., C-5,
Sarasota, FL 34243 (the "Company"), and each entity named on a signature page
hereto (each, an "Initial Investor") (each agreement with an Initial Investor
being deemed a separate and independent agreement between the Company and such
Initial Investor, except that each Initial Investor acknowledges and consents to
the rights granted to each other Initial Investor under such agreement).

                             W I T N E S S E T H:

          WHEREAS, upon the terms and subject to the conditions of the
Securities Purchase Agreement, dated as of March 2, 2001, between the Initial
Investor and the Company (the "Securities Purchase Agreement"; terms not
otherwise defined herein shall have the meanings ascribed to them in the
Securities Purchase Agreement), the Company has agreed to issue and sell to the
Initial Investors its 8% Secured Convertible Debentures Series 01-1 Due February
28, 2005 in the aggregate original principal amount of $1,500,000 (collectively,
the "Debentures"); and

          WHEREAS, the Company has agreed to issue the Warrants to the Initial
Investor in connection with the issuance of the Debentures; and

          WHEREAS, the Debentures (which term, for purposes of this Agreement,
shall include Periodic Amount Debentures, as defined below) is convertible into
shares of Common Stock (the "Conversion Shares"; which term, for purposes of
this Agreement, shall include shares of Common Stock of the Company issuable in
lieu of accrued interest through the Maturity Date of the Debentures as
contemplated by the Debentures) upon the terms and subject to the conditions
contained in the Debentures and the Warrants may be exercised for the purchase
of shares of Common Stock (the "Warrant Shares") upon the terms and conditions
of the Warrants; and

          WHEREAS, to induce the Initial Investor to execute and deliver the
Securities Purchase Agreement, the Company has agreed to provide certain
registration rights under the Securities Act of 1933, as amended, and the rules
and regulations thereunder, or any similar successor statute (collectively, the
"Securities Act"), with respect to the Conversion Shares and the Warrant Shares;

          NOW, THEREFORE, in consideration of the premises and the mutual
covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and the
Initial Investor hereby agree as follows:
<PAGE>

          1.   Definitions. As used in this Agreement, the following terms shall
have the following meanings:

               (a)  "Investor" means the Initial Investor and any permitted
transferee or assignee who agrees to become bound by the provisions of this
Agreement in accordance with Section 9 hereof and who holds Debentures, Warrants
or Registrable Securities.

               (b)  "Potential Material Event" means any of the following: (i)
the possession by the Company of material information not ripe for disclosure in
a registration statement, which shall be evidenced by determinations in good
faith by the Board of Directors of the Company that disclosure of such
information in the registration statement would be detrimental to the business
and affairs of the Company; or (ii) any material engagement or activity by the
Company which would, in the good faith determination of the Board of Directors
of the Company, be adversely affected by disclosure in a registration statement
at such time, which determination shall be accompanied by a good faith
determination by the Board of Directors of the Company that the registration
statement would be materially misleading absent the inclusion of such
information.

               (c)  "Register," "Registered," and "Registration" refer to a
registration effected by preparing and filing a Registration Statement or
Statements in compliance with the Securities Act and pursuant to Rule 415 under
the Securities Act or any successor rule providing for offering securities on a
continuous basis ("Rule 415"), and the declaration or ordering of effectiveness
of such Registration Statement by the United States Securities and Exchange
Commission (the "SEC").

               (d)  "Registrable Securities" means the Conversion Shares and if,
but only if, the Company does not timely effectuate a Special Redemption on the
terms provided in the Debentures, the Warrant Shares.

               (e)  "Registration Statement" means a registration statement of
the Company under the Securities Act covering Registrable Securities on Form S-
3, if the Company is then eligible to file using such form, and if not eligible,
on Form SB-2 or other appropriate form.

               (f)  "Required Effective Date" means the relevant Initial
Required Effective Date or Increased Required Effective Date (as those terms are
defined below).

               (g)  "Effective Date" means the date the SEC declares a
Registration Statement covering Registrable Securities and otherwise meeting the
conditions contemplated hereby to be effective.

               (h)  "Restricted Sale Date" means either (i) the first date,
other than during a Permitted Suspension Period (as defined below), on which the
Investor is restricted from making sales of Registrable Securities covered by
any previously effective Registration Statement or (ii) the date after the third
consecutive trading day on which the Company's shares are, for any reason, not
listed on the Principal Trading Market.

                                       2
<PAGE>

          2.   Registration.

               (a)  Mandatory Registration.

                    (i)    The Company shall prepare and file with the SEC, as
soon as possible after the Closing Date but no later than ninety (90) days after
the Closing Date (the "Target Filing Date"), either a Registration Statement or
an amendment to an existing Registration Statement, in either event registering
for resale by the Investor a sufficient number of shares of Common Stock for the
Initial Investors to sell the Registrable Securities, but in no event less than
the number of shares equal to the sum of (A) two hundred percent (200%) of the
number of shares into which the Debentures and all interest thereon through the
Maturity Date would be convertible at the time of filing of such Registration
Statement (assuming for such purposes that all Debentures had been eligible to
be converted, and had been converted, into Conversion Shares in accordance with
their terms, whether or not such eligibility, accrual of interest or conversion
had in fact occurred as of such date) and (B) the number of shares which would
be issued upon exercise of all of the Warrants issued and to be issued as
contemplated by the Securities Purchase Agreement at the time of filing of the
Registration Statement (assuming for such purposes that all Warrants were
eligible to be exercised and had been exercised in accordance with their terms,
whether or not such eligibility or exercise had in fact occurred as of such
date). The Registration Statement (W) shall include only the Registrable
Securities and (X) shall also state that, in accordance with Rule 416 and 457
under the Securities Act, it also covers such indeterminate number of additional
shares of Common Stock as may become issuable upon conversion of the Debentures
and the exercise of the Warrants to prevent dilution resulting from stock
splits, or stock dividends. The Company will use its reasonable best efforts to
cause such Registration Statement to be declared effective on a date (the
"Initial Required Effective Date") which is no later than the earlier of (Y)
five (5) days after oral or written notice by the SEC that it may be declared
effective or (Z) one hundred twenty (120) days after the Closing Date.

                    (ii)   If at any time (an "Increased Registered Shares
Date"), the number of shares of Common Stock represented by the Registrable
Shares, issued or to be issued as contemplated by the Transaction Agreements,
exceeds eighty percent (80%) of the aggregate number of shares of Common Stock
then registered, the Company shall either (X) amend the relevant Registration
Statement filed by the Company pursuant to the preceding provisions of this
Section 2, if such Registration Statement has not been declared effective by the
SEC at that time, to register, in the aggregate, at least the number of shares
(the "Increased Shares Amount") equal to (A)(I) the number of shares theretofore
issued on conversion of the Debentures (including any interest paid on
conversion by the issuance of Conversion Shares) plus (II) two hundred percent
(200%) of the number of shares into which the unconverted Debentures and all
interest thereon through the Maturity Date would be convertible at the date of
such filing (assuming for such purposes that all such Debentures had been
eligible to be converted, and had been converted, into Conversion Shares in
accordance with their terms, whether or not such eligibility, accrual of
interest, or conversion had in fact occurred as of such date) and (B) the number
of shares which would be issued upon exercise of all of the Warrants (assuming
for such purposes that all Warrants had been eligible to be exercised and had
been exercised in accordance with their terms, whether or not such eligibility
or exercise had in fact occurred as of such date), or (Y) if such Registration
Statement has been declared effective by the SEC at that time, file with the SEC
an additional Registration Statement (an "Additional Registration

                                       3
<PAGE>

Statement") to register the number of shares equal to the excess of the
Increased Shares Amount over the aggregate number of shares of Common Stock
already registered. The Company will use its reasonable best efforts to cause
such Registration Statement to be declared effective on a date (each, an
"Increased Required Effective Date") which is no later than (Q) with respect to
a Registration Statement under clause (X) of this subparagraph (ii), the Initial
Required Effective Date and (R) with respect to an Additional Registration
Statement, the earlier of (I) five (5) days after notice by the SEC that it may
be declared effective or (II) thirty (30) days after the Increased Registered
Shares Date.

                    (iii)  The aggregate number of shares registered for the
Investors in each Registration Statement or amendment thereto shall be allocated
among the Investors on a pro rata basis among them according to their relative
Registrable Shares included in such Registration Statement).

               (b)  Payments by the Company.

                    (i)    If the Registration Statement covering the
Registrable Securities is not filed in proper form with the SEC by the date (the
"Required Filing Date") which is ten (10) days after the Target Filing Date, the
Company will make payment to the Initial Investor in such amounts and at such
times as shall be determined pursuant to this Section 2(b).

                    (ii)   If the Registration Statement covering the
Registrable Securities is not effective by the relevant Required Effective Date
or if there is a Restricted Sale Date, then the Company will make payments to
the Initial Investor in such amounts and at such times as shall be determined
pursuant to this Section 2(b).

                    (iii)  The amount (the "Periodic Amount") to be paid by the
Company to the Initial Investor shall be determined as of each Computation Date
(as defined below) and such amount shall be equal to the Periodic Amount
Percentage (as defined below) of the Purchase Price for all Debentures for the
period from the date following the relevant Required Filing Date or the Required
Effective Date or a Restricted Sale Date, as the case may be, to the first
relevant Computation Date, and thereafter to each subsequent Computation Date.
The "Periodic Amount Percentage" means (A) (1) three percent (3%) of the
Purchase Price of all Debentures for the first Computation Date after the
Required Filing Date or a Restricted Sale Date, as the case may be, and (2) one
percent (1%) of the Purchase Price of all Debentures for the first Computation
Date after the Required Effective Date; and (B) three percent (3%) of the
Purchase Price of all Debentures to each Computation Date thereafter. Anything
in the preceding provisions of this paragraph (iii) to the contrary
notwithstanding, after the relevant Effective Date the Purchase Price shall be
deemed to refer to the sum of(X) the principal amount of all Debentures not yet
converted and (Y) the Held Shares Value (as defined below). The "Held Shares
Value" means, for shares acquired by the Investor upon a conversion within the
thirty (30) days preceding the Restricted Sale Date, but not yet sold by the
Investor, the principal amount of the Debentures converted into such Conversion
Shares; provided, however, that if the Investor effected more than one
conversion during such thirty (30) day period and sold less than all of such
shares, the sold shares shall be deemed to be derived first from the conversions
in the sequence of such conversions (that is, for example, until the number of
shares from the first of such conversions have been sold, all shares shall be
deemed to be from the first conversion;

                                       4
<PAGE>

thereafter, from the second conversion until all such shares are sold). By way
of illustration and not in limitation of the foregoing, if the Registration
Statement is filed on or before the Required Filing Date, but is not declared
effective until one hundred ninety (190) days after the Closing Date, the
Periodic Amount will aggregate seven percent (7%) of the Purchase Price of the
Debentures theretofore issued (1% for days 121-150, plus 3% for days 151-180,
plus 3% for days 181-195).

                    (iv)   Each Periodic Amount will be payable by the Company,
except as provided in the other provisions of this subparagraph (iv), in cash or
other immediately available funds to the Investor (1) on the day after the
Required Filing Date, the Required Effective Date or a Restricted Sale Date, as
the case may be, and (2) on the earlier of (A) each thirtieth day thereafter,
(B) the third business day after the date the Registration Statement is filed or
is declared effective, or (C) the third business day after the Registration
Statement has its restrictions removed after the relevant Effective Date or the
third business day after the Company's shares are listed on the Principal
Trading Market, as the case may be, in each case without requiring demand
therefor by the Investor. Notwithstanding the provisions of the first sentence
of this subparagraph (iv), at the option of the Investor, exercisable in its
sole and absolute discretion by written notice to the Company at any time before
the Periodic Amount is paid, all or a portion of the Periodic Amount shall be
paid by the issuance of additional Debentures to the Investor ("Periodic Amount
Debentures") having a principal amount equal to the Periodic Amount being paid
thereby but otherwise having the terms of the Debentures.

                    (v)    The parties acknowledge that the damages which may be
incurred by the Investor if the Registration Statement is not filed by the
Required Filing Date or the Registration Statement has not been declared
effective by a Required Effective Date, including if the right to sell
Registrable Securities under a previously effective Registration Statement is
suspended or the shares of the Company's stock are not listed on the Principal
Trading Market, may be difficult to ascertain. The parties agree that the
Periodic Amounts represent a reasonable estimate on the part of the parties, as
of the date of this Agreement, of the amount of such damages.

                    (vi)   Notwithstanding the foregoing, the amounts payable by
the Company pursuant to this provision shall not be payable to the extent any
delay in the effectiveness of the Registration Statement occurs because of an
act of, or a failure to act or to act timely by the Initial Investor or its
counsel.

                    (vii)  "Computation Date" means (A) the date which is the
earlier of (1) thirty (30) days after the Required Filing Date, any relevant
Required Effective Date or a Restricted Sale Date, as the case may be, or (2)
the date after the Required Filing Date, such Required Effective Date or
Restricted Sale Date on which the Registration Statement is filed (with respect
to payments due as contemplated by Section 2(b)(i) hereof) or is declared
effective or has its restrictions removed or the shares of the Company's stock
are listed on the Principal Trading Market (with respect to payments due as
contemplated by Section 2(b)(ii) hereof), as the case may be, and (B) each date
which is the earlier of (l) thirty (30) days after the previous Computation Date
or (2) the date after the previous Computation Date on which the Registration
Statement is filed (with respect to payments due as contemplated by Section
2(b)(i) hereof) or is declared effective or has its restrictions removed or the
shares of the Company's stock are listed

                                       5
<PAGE>

on the Principal Trading Market (with respect to payments due as contemplated by
Section 2(b)(ii) hereof), as the case may be.

          3.   Obligations of the Company. In connection with the registration
of the Registrable Securities, the Company shall do each of the following:

               (a)  Prepare promptly, and file with the SEC by the Required
Filing Date a Registration Statement with respect to not less than the number of
Registrable Securities provided in Section 2(a) above, and thereafter use its
reasonable best efforts to cause such Registration Statement relating to
Registrable Securities to become effective by the Required Effective Date and
keep the Registration Statement effective at all times during the period (the
"Registration Period") continuing until the earlier of (i) the date when the
Investors may sell all Registrable Securities under Rule 144 without volume or
other restrictions or limits or (ii) the date the Investors no longer own any of
the Registrable Securities, which Registration Statement (including any
amendments or supplements thereto and prospectuses contained therein) shall not
contain any 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 in which they were made, not misleading;

               (b)  Prepare and file with the SEC such amendments (including
post-effective amendments) and supplements to the Registration Statement and the
prospectus used in connection with the Registration Statement as may be
necessary to keep the Registration Statement effective at all times during the
Registration Period, and, during the Registration Period, comply with the
provisions of the Securities Act with respect to the disposition of all
Registrable Securities of the Company covered by the Registration Statement
until such time as all of such Registrable Securities have been disposed-of in
accordance with the intended methods of disposition by the seller or sellers
thereof as set forth in the Registration Statement;

               (c)  Permit a single firm of counsel designated by the Initial
Investors to review the Registration Statement and all amendments and
supplements thereto a reasonable period of time (but not less than three (3)
business days) prior to their filing with the SEC, and not file any document in
a form to which such counsel reasonably objects;

               (d)  Notify each Investor and such Investor's legal counsel
identified to the Company and which has requested by written notice to the
Company that it receive such notification (which, until further notice, shall be
deemed to be Krieger & Prager LLP, Attn: Samuel Krieger, Esq., which firm has
requested to receive such notification; each, an "Investor's Counsel"), and any
managing underwriters immediately (and, in the case of (i)(A) below, not less
than three (3) business days prior to such filing) and (if requested by any such
person) confirm such notice in writing no later than one (1) business day
following the day (i)(A) when a Prospectus or any Prospectus supplement or post-
effective amendment to the Registration Statement is proposed to be filed; (B)
whenever the SEC notifies the Company whether there will be a "review" of such
Registration Statement; (C) whenever the Company receives (or a representative
of the Company receives on its behalf) any oral or written comments from the SEC
in respect of a Registration Statement (copies or, in the case of oral comments,
summaries of such comments shall be promptly furnished by the Company to the
Investors); and (D) with respect to the Registration Statement or any post-
effective amendment, when the same has

                                       6
<PAGE>

become effective; (ii) 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; (iii) of the issuance by
the SEC of any stop order suspending the effectiveness of the Registration
Statement covering any or all of the Registrable Securities or the initiation of
any proceedings for that purpose; (iv) if at any time any of the representations
or warranties of the Company contained in any agreement (including any
underwriting agreement) contemplated hereby ceases to be true and correct in all
material respects; (v) 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 Securities for sale in any jurisdiction, or the
initiation or threatening of any proceeding for such purpose; and (vi) of the
occurrence of any event that to the best knowledge of the Company makes any
statement made in the Registration Statement or Prospectus or any document
incorporated or deemed to be incorporated therein by reference untrue in any
material respect or that requires any revisions to the Registration Statement,
Prospectus or other documents so that, in the case of the Registration Statement
or the Prospectus, as the case may be, it will not contain any untrue statement
of a material fact or omit to state any material fact required to be stated
therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading. In addition, the
Company shall furnish the Investor's Counsel with copies of all intended written
responses to the comments contemplated in clause (C) of this Section 3(d) not
later than one (1) business day in advance of the filing of such responses with
the SEC so that the Investors shall have the opportunity to comment thereon;

               (e)  Furnish to each Investor and such Investor's Counsel (i)
promptly after the same is prepared and publicly distributed, filed with the
SEC, or received by the Company, one (1) copy of the Registration Statement,
each preliminary prospectus and prospectus, and each amendment or supplement
thereto, and (ii) such number of copies of a prospectus, and all amendments and
supplements thereto and such other documents, as such Investor may reasonably
request in order to facilitate the disposition of the Registrable Securities
owned by such Investor;

               (f)  As promptly as practicable after becoming aware thereof,
notify each Investor of the happening of any event of which the Company has
knowledge, as a result of which the prospectus included in the Registration
Statement, as then in effect, includes an untrue statement of a material fact or
omits 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 were
made, not misleading, and use its best efforts promptly to prepare a supplement
or amendment to the Registration Statement or other appropriate filing with the
SEC to correct such untrue statement or omission, and deliver a number of copies
of such supplement or amendment to each Investor as such Investor may reasonably
request;

               (g)  As promptly as practicable after becoming aware thereof,
notify each Investor who holds Registrable Securities being sold (or, in the
event of an underwritten offering, the managing underwriters) of the issuance by
the SEC of a Notice of Effectiveness or any notice of effectiveness or any stop
order or other suspension of the effectiveness of the Registration Statement at
the earliest possible time;

                                       7
<PAGE>

               (h)  Notwithstanding the foregoing, if at any time or from time
to time after the date of effectiveness of the Registration Statement, the
Company notifies the Investors in writing of the existence of a Potential
Material Event, the Investors shall not offer or sell any Registrable
Securities, or engage in any other transaction involving or relating to the
Registrable Securities, from the time of the giving of notice with respect to a
Potential Material Event until such Investor receives written notice from the
Company that such Potential Material Event either has been disclosed to the
public or no longer constitutes a Potential Material Event; provided, however
that the Company may not so suspend the right to such holders of Registrable
Securities during the periods the Registration Statement is required to be in
effect other than during a Permitted Suspension Period (and the applicable
provisions of Section 2(b) shall apply with respect to any such suspension other
than during a Permitted Suspension Period). The term "Permitted Suspension
Period" means up to two such suspension periods during any consecutive 12-month
period, each of which suspension period shall not either (i) be for more than
ten (10) days or (ii) begin less than ten (10) business days after the last day
of the preceding suspension (whether or not such last day was during or after a
Permitted Suspension Period); provided further that the Company shall, if lawful
to do so, provide the Investor with at least two (2) business days' notice of
the existence (but not the substance of) a Potential Material Event;

               (i)  Use its reasonable efforts to secure and maintain the
designation of all the Registrable Securities covered by the Registration
Statement on the "Nasdaq/SmallCap Market" of the National Association of
Securities Dealers Automated Quotations System ("NASDAQ") within the meaning of
Rule 11 Aa2-1 of the SEC under the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), and the quotation of the Registrable Securities on The
Nasdaq/SmallCap Market; and, without limiting the generality of the foregoing,
to arrange for at least two market makers to register with the National
Association of Securities Dealers, Inc. as such with respect to such Registrable
Securities;

               (j)  Provide a transfer agent and registrar, which may be a
single entity, for the Registrable Securities not later than the initial
Effective Date.

               (k)  Cooperate with the Investors who hold Registrable Securities
being offered to facilitate the timely preparation and delivery of certificates
for the Registrable Securities to be offered pursuant to the Registration
Statement and enable such certificates for the Registrable Securities to be in
such denominations or amounts as the case may be, as the Investors may
reasonably request, and, within five (5) business days after a Registration
Statement which includes Registrable Securities is ordered effective by the SEC,
the Company shall deliver, and shall cause legal counsel selected by the Company
to deliver, to the transfer agent for the Registrable Securities (with copies to
the Investors whose Registrable Securities are included in such Registration
Statement) an appropriate instruction and opinion of such counsel, which shall
include, without limitation, directions to the transfer agent to issue
certificates of Registrable Securities (including certificates for Registrable
Securities to be issued after the Effective Date and replacement certificates
for Registrable Securities previously issued) without legends or other
restrictions; and

               (l)  Take all other reasonable actions necessary to expedite and
facilitate disposition by the Investor of the Registrable Securities pursuant to
the Registration Statement.

                                       8
<PAGE>

          4.   Obligations of the Investors. In connection with the registration
of the Registrable Securities, the Investors shall have the following
obligations:

               (a)  Each Investor, by such Investor's acceptance of the
Registrable Securities, agrees to cooperate with the Company as reasonably
requested by the Company in connection with the preparation and filing of the
Registration Statement hereunder, unless such Investor has notified the Company
in writing of such Investor's election to exclude all of such Investor's
Registrable Securities from the Registration Statement; and

               (b)  Each Investor agrees that, upon receipt of any notice from
the Company of the happening of any event of the kind described in Section 3(f)
or 3(g), above, such Investor will immediately discontinue disposition of
Registrable Securities pursuant to the Registration Statement covering such
Registrable Securities until such Investor's receipt of the copies of the
supplemented or amended prospectus contemplated by Section 3(f) or 3(g) and, if
so directed by the Company, such Investor shall deliver to the Company (at the
expense of the Company) or destroy (and deliver to the Company a certificate of
destruction) all copies in such Investor's possession, of the prospectus
covering such Registrable Securities current at the time of receipt of such
notice.

          5.   Expenses of Registration. All reasonable expenses (other than
underwriting discounts and commissions of the Investor) incurred in connection
with registrations, filings or qualifications pursuant to Section 3, but
including, without limitation, all registration, listing, and qualifications
fees, printers and accounting fees, the fees and disbursements of counsel for
the Company shall be borne by the Company.  In addition, a fee for a single
counsel for the Investors (as a group and not individually) equal to $4,500 for
the review of each Registration Statement and $2,000 for each post-effective
amendment to a Registration Statement, shall be borne by the Company.

          6.   Indemnification. In the event any Registrable Securities are
included in a Registration Statement under this Agreement:

               (a)  To the extent permitted by law, the Company will indemnify
and hold harmless each Investor who holds such Registrable Securities, the
directors, if any, of such Investor, the officers, if any, of such Investor,
each person, if any, who controls any Investor within the meaning of the
Securities Act or the Exchange Act (each, an "Indemnified Person" or
"Indemnified Party"), against any losses, claims, damages, liabilities or
expenses (joint or several) incurred (collectively, "Claims") to which any of
them may become subject under the Securities Act, the Exchange Act or otherwise,
insofar as such Claims (or actions or proceedings, whether commenced or
threatened, in respect thereof) arise out of or are based upon any of the
following statements, omissions or violations in the Registration Statement, or
any post-effective amendment thereof, or any prospectus included therein: (i)
any untrue statement or alleged untrue statement of a material fact contained in
the Registration Statement or any post-effective amendment thereof or 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, (ii)
any untrue statement or alleged untrue statement of a material fact contained in
the final prospectus (as amended or supplemented, if the Company files any
amendment thereof or supplement thereto with the SEC) or the omission or alleged
omission to state therein any material fact necessary to

                                       9
<PAGE>

make the statements made therein, in light of the circumstances under which the
statements therein were made, not misleading or (iii) any violation or alleged
violation by the Company of the Securities Act, the Exchange Act, any state
securities law or any rule or regulation under the Securities Act, the Exchange
Act or any state securities law (the matters in the foregoing clauses (i)
through (iii) being, collectively, "Violations"). Subject to clause (b) of this
Section 6, the Company shall reimburse the Investors, promptly as such expenses
are incurred and are due and payable, for any legal fees or other reasonable
expenses incurred by them in connection with investigating or defending any such
Claim. Notwithstanding anything to the contrary contained herein, the
indemnification agreement contained in this Section 6(a) shall not (I) apply to
a Claim arising out of or based upon a Violation which occurs in reliance upon
and in conformity with information furnished in writing to the Company by or on
behalf of any Indemnified Person expressly for use in connection with the
preparation of the Registration Statement or any such amendment thereof or
supplement thereto, after such prospectus was made available by the Company
pursuant to Section 3(c) hereof (II) be available to the extent such Claim is
based on a failure of the Investor to deliver or cause to be delivered the
prospectus made available by the Company or the amendment or supplement thereto
made available by the Company; (III) be available to the extent such Claim is
based on the delivery of a prospectus by the Investor after receiving notice
from the Company under Section 3(f), 3(g) or 3(h) hereof (other than a notice
regarding the effectiveness of the Registration Statement or any amendment or
supplement thereto), or (IV) apply to amounts paid in settlement of any Claim if
such settlement is effected without the prior written consent of the Company,
which consent shall not be unreasonably withheld or delayed. Each Investor will
indemnify the Company and its officers, directors and agents (each, an
"Indemnified Person" or "Indemnified Party") against any claims arising out of
or based upon a Violation which occurs in reliance upon and in conformity with
information furnished in writing to the Company, by or on behalf of such
Investor, expressly for use in connection with the preparation of the
Registration Statement or the amendment or supplement thereto, subject to such
limitations and conditions as are applicable to the Indemnification provided by
the Company to this Section 6. Such indemnity shall remain in full force and
effect regardless of any investigation made by or on behalf of the Indemnified
Person and shall survive the transfer of the Registrable Securities by the
Investors pursuant to Section 9.

               (b)  Promptly after receipt by an Indemnified Person or
Indemnified Party under this Section 6 of notice of the commencement of any
action (including any governmental action), such Indemnified Person or
Indemnified Party shall, if a Claim in respect thereof is to be made against any
indemnifying party under this Section 6, deliver to the indemnifying party a
written notice of the commencement thereof and the indemnifying party shall have
the right to participate in, and, to the extent the indemnifying party so
desires, jointly with any other indemnifying party similarly noticed, to assume
control of the defense thereof with counsel mutually satisfactory to the
indemnifying party and the Indemnified Person or the Indemnified Party, as the
case may be. In case any such action is brought against any Indemnified Person
or Indemnified Party, and it notifies the indemnifying party of the commencement
thereof, the indemnifying party will be entitled to participate in, and, to the
extent that it may wish, jointly with any other indemnifying party similarly
notified, assume the defense thereof, subject to the provisions herein stated
and after notice from the indemnifying party to such Indemnified Person or
Indemnified Party of its election so to assume the defense thereof, the
indemnifying party will not be liable to such Indemnified Person or Indemnified
Party under this Section 6 for any legal or other reasonable out-of-pocket
expenses subsequently

                                       10
<PAGE>

incurred by such Indemnified Person or Indemnified Party in connection with the
defense thereof other than reasonable costs of investigation, unless the
indemnifying party shall not pursue the action to its final conclusion. The
Indemnified Person or 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 reasonable out-of-pocket expenses of such counsel shall not be at the
expense of the indemnifying party if the indemnifying party has assumed the
defense of the action with counsel reasonably satisfactory to the Indemnified
Person or Indemnified Party provided such counsel is of the opinion that all
defenses available to the Indemnified Party can be maintained without
prejudicing the rights of the indemnifying party. The failure to deliver written
notice to the indemnifying party within a reasonable time of the commencement of
any such action shall not relieve such indemnifying party of any liability to
the Indemnified Person or Indemnified Party under this Section 6, except to the
extent that the indemnifying party is prejudiced in its ability to defend such
action. The indemnification required by this Section 6 shall be made by periodic
payments of the amount thereof during the course of the investigation or
defense, as such expense, loss, damage or liability is incurred and is due and
payable.

          7.   Contribution. To the extent any indemnification by an
indemnifying party is prohibited or limited by law, the indemnifying party
agrees to make the maximum contribution with respect to any amounts for which it
would otherwise be liable under Section 6 to the fullest extent permitted by
law; provided, however, that (a) no contribution shall be made under
circumstances where the maker would not have been liable for indemnification
under the fault standards set forth in Section 6; (b) no seller of Registrable
Securities guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any seller
of Registrable Securities who was not guilty of such fraudulent
misrepresentation; and (c) except where the seller has committed fraud (other
than a fraud by reason of the information included or omitted from the
Registration Statement as to which the Company has not given notice as
contemplated under Section 3 hereof) or intentional misconduct, contribution by
any seller of Registrable Securities shall be limited in amount to the net
amount of proceeds received by such seller from the sale of such Registrable
Securities.

          8.   Reports under Securities Act and Exchange Act. With a view to
making available to Investor the benefits of Rule 144 promulgated under the
Securities Act or any other similar rule or regulation of the SEC that may at
any time permit Investor to sell securities of the Company to the public without
Registration ("Rule 144"), the Company agrees to:

               (a)  make and keep public information available, as those terms
are understood and defined in Rule 144;

               (b)  file with the SEC in a timely manner all reports and other
documents required of the Company under the Securities Act and the Exchange Act;
and

               (c)  furnish to Investor so long as Investor owns Registrable
Securities, promptly upon request, (i) a written statement by the Company that
it has complied with the reporting requirements of the Securities Act and the
Exchange Act, (ii) a copy of the most recent annual or quarterly report of the
Company and such other reports and documents so filed by the

                                       11
<PAGE>

Company and (iii) such other information as may be reasonably requested to
permit Investor to sell such securities pursuant to Rule 144 without
Registration.

               (d)  The Company will, at the request of any Holder of
Registrable Securities, upon receipt from such Holder of a certificate
certifying (i) that such Holder has held such Registrable Securities for a
period of not less than one (1) year, (ii) that such Holder has not been an
affiliate (as defined in Rule 144) of the company for more than the ninety (90)
preceding days, and (iii) as to such other matters as may be appropriate in
accordance with such Rule, remove from the stock certificate representing such
Registrable Securities that portion of any restrictive legend which relates to
the registration provisions of the Securities Act, provided, however, that, at
the Company's cost and expense, counsel to Investor may provide such
instructions and opinion to the transfer agent regarding the removal of the
restrictive legend.

          9.   Assignment of the Registration Rights. The rights to have the
Company register Registrable Securities pursuant to this Agreement shall be
automatically assigned by the Investors to any transferee of the Registrable
Securities (or all or any portion of any unconverted Debentures or unexercised
Warrant) only if the Company is, within a reasonable time after such transfer or
assignment, furnished with written notice of (a) the name and address of such
transferee or assignee and (b) the securities with respect to which such
registration rights are being transferred or assigned.

          10.  Amendment of Registration Rights. Any provision of this Agreement
may be amended and the observance thereof may be waived (either generally or in
a particular instance and either retroactively or prospectively), only with the
written consent of the Company and Investors who hold a eighty (80%) percent
interest of the Registrable Securities (as calculated by the stated value of the
Debentures without any reference to the Warrant Shares). Any amendment or waiver
effected in accordance with this Section 10 shall be binding upon each Investor
and the Company.

          11.  Miscellaneous.

               (a)  A person or entity is deemed to be a holder of Registrable
Securities whenever such person or entity owns of record such Registrable
Securities. If the Company receives conflicting instructions, notices or
elections from two or more persons or entities with respect to the same
Registrable Securities, the Company shall act upon the basis of instructions,
notice or election received from the registered owner of such Registrable
Securities.

               (b)  Notices required or permitted to be given hereunder shall be
given in the manner contemplated by the Securities Purchase Agreement, (i) if to
the Company or to the Initial Investor, to their respective address contemplated
by the Securities Purchase Agreement, and (ii) if to any other Investor, at such
address as such Investor shall have provided in writing to the Company, or at
such other address as each such party furnishes by notice given in accordance
with this Section 11(b).

               (c)  Failure of any party to exercise any right or remedy under
this Agreement or otherwise, or delay by a party in exercising such right or
remedy, shall not operate as a waiver thereof.

                                       12
<PAGE>

               (d)  This Agreement shall be governed by and interpreted in
accordance with the laws of the State of Delaware for contracts to be wholly
performed in such state and without giving effect to the principles thereof
regarding the conflict of laws. Each of the parties consents to the jurisdiction
of the federal courts whose districts encompass any part of the City of
Wilmington or the state courts of the State of Delaware sitting in the City of
Wilmington in connection with any dispute arising under this Agreement and
hereby waives, to the maximum extent permitted by law, any objection, including
any objection based on forum non coveniens, to the bringing of any such
proceeding in such jurisdictions. To the extent determined by such court, either
party hereto shall reimburse the other party for any reasonable legal fees and
disbursements incurred by such party in enforcement of or protection of any of
its rights under this Agreement.

               (e)  If any provision of this Agreement shall be invalid or
unenforceable in any jurisdiction, such invalidity or unenforceability shall not
affect the validity or enforceability of the remainder of this Agreement or the
validity or enforceability of this Agreement in any other jurisdiction.

               (f)  Subject to the requirements of Section 9 hereof, this
Agreement shall inure to the benefit of and be binding upon the successors and
assigns of each of the parties hereto.

               (g)  All pronouns and any variations thereof refer to the
masculine, feminine or neuter, singular or plural, as the context may require.

               (h)  The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning thereof.

               (i)  This Agreement may be executed in one or more counterparts,
each of which shall be deemed an original but all of which shall constitute one
and the same agreement. This Agreement, once executed by a party, may be
delivered to the other party hereto by telephone line facsimile transmission of
a copy of this Agreement bearing the signature of the party so delivering this
Agreement.

               (j)  The Company acknowledges that any failure by the Company to
perform its obligations under Section 3(a) hereof, or any delay in such
performance could result in loss to the Investors, and the Company agrees that,
in addition to any other liability the Company may have by reason of such
failure or delay, the Company shall be liable for all direct damages caused by
any such failure or delay, unless the same is the result of force majeure.
Neither party shall be liable for consequential damages.

               (k)  This Agreement constitutes the entire agreement among the
parties hereto with respect to the subject matter hereof. There are no
restrictions, promises, warranties or undertakings, other than those set forth
or referred to herein. This Agreement supersedes all prior agreements and
understandings among the parties hereto with respect to the subject matter
hereof This Agreement may be amended only by an instrument in writing signed by
the party to be charged with enforcement thereof.

                                       13
<PAGE>

     IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed by their respective officers thereunto duly authorized as of the day
and year first above written.

                                   COMPANY:
                                   SPEEDCOM WIRELESS CORPORATION

                                   By: /s/ Jay O. Wright
                                      --------------------------------------

                                   Name: Jay O. Wright
                                   Title: CFO

                                   INITIAL INVESTOR:
                                   The Endeavor Capital Investment Fund S.A.

                                   By: /s/ Shmulie Margulies
                                      --------------------------------------

                                   Name: Shmulie Margulies
                                   Title: Director

                                       14
<PAGE>

     IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed by their respective officers thereunto duly authorized as of the day
and year first above written.

                                   COMPANY:
                                   SPEEDCOM WIRELESS CORPORATION

                                   By: /s/ Jay O. Wright
                                      --------------------------------------

                                   Name: Jay O. Wright
                                   Title: CFO

                                   INITIAL INVESTOR:
                                   Tayside Trading Ltd.

                                   By: /s/ Esriel Pines
                                      --------------------------------------

                                   Name: Esriel Pines
                                   Title: CEO-Director

                                       15<PAGE>

                                                                     Exhibit 4.7

                                FORM OF WARRANT

     THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
     ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND
     MAY NOT BE SOLD OR OFFERED FOR SALE IN THE ABSENCE OF AN
     EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES OR AN OPINION
     OF COUNSEL OR OTHER EVIDENCE ACCEPTABLE TO THE COMPANY THAT SUCH
     REGISTRATION IS NOT REQUIRED.

                         SPEEDCOM WIRELESS CORPORATION

                         COMMON STOCK PURCHASE WARRANT

          1.   Issuance; Certain Definitions. In consideration of good and
               -----------------------------
valuable consideration, the receipt of which is hereby acknowledged by SPEEDCOM
WIRELESS CORPORATION, a Delaware corporation (the "Company"), __________________
or registered assigns (the "Holder") is hereby granted the right to purchase at
any time until 5:00 P.M., New York City time, on ___________, 2006/1/ (the
"Expiration Date"), _________ Thousand (______)/2/ fully paid and nonassessable
shares of the Company's Common Stock, no par value per share (the "Common
Stock") at an initial exercise price per share (the "Exercise Price") of $6.00
per share, subject to further adjustment as set forth herein. This Warrant is
being issued pursuant to the terms of that certain Securities Purchase
Agreement, dated as of March ___, 2001 (the "Securities Purchase Agreement ), to
which the Company and Holder (or Holder's predecessor in interest) are parties.
Capitalized terms not otherwise defined herein shall have the meanings ascribed
to them in the Securities Purchase Agreement.

          2.   Exercise of Warrants.
               --------------------

               2.1  General.
                    -------

               (a)  This Warrant is exercisable in whole or in part at any time
and from time to time. Such exercise shall be effectuated by submitting to the
Company (either by delivery to the Company or by facsimile transmission as
provided in Section 8 hereof) a completed and duly executed Notice of Exercise
(substantially in the form attached to this Warrant Certificate) as provided in
this paragraph. The date such Notice of Exercise is faxed to the Company shall
be the "Exercise Date," provided that the Holder of this Warrant tenders this
Warrant Certificate to the Company within five (5) business days thereafter. The
Notice of Exercise shall be executed by the Holder of this Warrant and shall
indicate the number of shares then being purchased pursuant to such exercise.
Upon surrender of this Warrant Certificate, together with appropriate payment of
the Exercise Price for the shares of Common Stock purchased, the Holder shall be
entitled to receive a certificate or certificates for the shares of Common Stock
so purchased.

______________________

     /1/ Insert date which is last day of month in which fifth anniversary of
         the Closing Date occurs.

     /2/ Insert 5,000 for every $100,000 of Purchase Price of the Debentures of
         the Holder.
<PAGE>

               (b)  The Holder shall have the right to elect a "cashless"
exercise of this Warrant on or after the first anniversary of the Closing Date
(the "First Anniversary Date"), (i) if, as of the First Anniversary Date, the
Warrant Shares are not included in an Effective Registration Statement (as
defined below), or (ii) at any time after the First Anniversary Date while the
Holder's right to sell Warrant Shares under an Effective Registration Statement
has been suspended for any reason. This Warrant may also be exercised by means
of a "cashless" exercise as provided in Section 6.4 hereof. If the Notice of
Exercise form elects a "cashless" exercise, the Holder shall thereby be entitled
to receive a number of shares of Common Stock equal to (x) the excess of the
Current Market Value (as defined below) over the total cash exercise price of
the portion of the Warrant then being exercised, divided by (y) the Market Price
of the Common Stock as of the trading day immediately prior to the Exercise
Date. For the purposes of this Warrant, the terms (Q) "Current Market Value"
shall be an amount equal to the Market Price of the Common Stock as of the
trading day immediately prior to the Exercise Date, multiplied by the number of
shares of Common Stock specified in such Notice of Exercise Form, and (R)
"Market Price of the Common Stock" shall be the closing price of the Common
Stock as reported by the Reporting Service for the relevant date. The term
"Effective Registration Statement" means a registration statement including the
Warrant Shares which has been declared effective by the Securities and Exchange
Commission.

               (c)  If the Notice of Exercise form elects a "cash" exercise or
if the Holder does not have the right to elect a "cashless" exercise, the
Exercise Price per share of Common Stock for the shares then being exercised
shall be payable in cash or by certified or official bank check.

               (d)  The Holder shall be deemed to be the holder of the shares
issuable to it in accordance with the provisions of this Section 2.1 on the
Exercise Date.

               2.2  Limitation on Exercise. Notwithstanding the provisions of
                    ----------------------
this Warrant, the Securities Purchase Agreement or of the other Transaction
Agreements, in no event (except (i) as specifically provided in this Warrant as
an exception to this provision, (ii) while there is outstanding a tender offer
for any or all of the shares of the Company's Common Stock, (iii) at the time
the Holder is entitled to make a Special Conversion under the terms of the
Securities Purchase Agreement or the Debentures, (iv) during the thirty (30)
days preceding the Expiration Date, or (v) on at least sixty-five (65) days'
advance written notice from the Holder of its election to cancel this Section
2.2, except that such notice may, at Holder's election, provide that the
Applicable Percentage specified below shall be amended to be "9.99%," and if
Holder makes such election this Section 2.2 shall continue to apply in its
entirety as so amended) shall the Holder be entitled to exercise this Warrant,
or shall the Company have the obligation to issue shares upon such exercise of
all or any portion of this Warrant, to the extent that, after such exercise the
sum of (1) the number of shares of Common Stock beneficially owned by the Holder
and its affiliates (other than shares of Common Stock which may be deemed
beneficially owned through the ownership of the unconverted portion of the
Debenture or unexercised portion of the Warrants), and (2) the number of shares
of Common Stock issuable upon the exercise of the Warrants with respect to which
the determination of this proviso is being made, would result in beneficial
ownership by the Holder and its affiliates of more than 4.99% (the "Applicable
Percentage") of the outstanding shares of Common Stock (after taking into
account the shares to be issued to the Holder upon such exercise). For purposes
of the proviso to the immediately

                                       2
<PAGE>

preceding sentence, beneficial ownership shall be determined in accordance with
Section 13(d) of the Securities Exchange Act of 1934, as amended, except as
otherwise provided in clause (1) of such sentence. The Holder, by its acceptance
of this Warrant, further agrees that if the Holder transfers or assigns any of
the Warrants to a party who or which would not be considered such an affiliate,
such assignment shall be made subject to the transferee's or assignee's specific
agreement to be bound by the provisions of this Section 2.2 as if such
transferee or assignee were the original Holder hereof

          3.   Reservation of Shares. The Company hereby agrees that at all
               ---------------------
times during the term of this Warrant there shall be reserved for issuance upon
exercise of this Warrant such number of shares of its Common Stock as shall be
required for issuance upon exercise of this Warrant (the "Warrant Shares").

          4.   Mutilation or Loss of Warrant. Upon receipt by the Company of
               -----------------------------
evidence satisfactory to it of the loss, theft, destruction or mutilation of
this Warrant, and (in the case of loss, theft or destruction) receipt of
reasonably satisfactory indemnification and affidavit, and (in the case of
mutilation) upon surrender and cancellation of this Warrant, the Company will
execute and deliver a new Warrant of like tenor and date and any such lost,
stolen, destroyed or mutilated Warrant shall thereupon become void.

          5.   Rights of the Holder. The Holder shall not, by virtue hereof be
               --------------------
entitled to any rights of a stockholder in the Company, either at law or equity,
and the rights of the Holder are limited to those expressed in this Warrant and
are not enforceable against the Company except to the extent set forth herein.

          6.   Protection Against Dilution.
               ---------------------------

               6.1  Adjustment Mechanism. If an adjustment of the Exercise Price
                    --------------------
is required pursuant to this Section 6, the Holder shall be entitled to purchase
such number of additional shares of Common Stock as will cause (i) the total
number of shares of Common Stock Holder is entitled to purchase pursuant to this
Warrant, multiplied by (ii) the adjusted Exercise Price per share, to equal
(iii) the dollar amount of the total number of shares of Common Stock which the
Holder is entitled to purchase before adjustment, multiplied by the total
Exercise Price before adjustment.

               6.2  Capital Adjustments. In case of any stock split or reverse
                    -------------------
stock split, stock dividend, reclassification of the Common Stock,
recapitalization, merger or consolidation, or like capital adjustment affecting
the Common Stock of the Company, the provisions of this Section 6 shall be
applied as if such capital adjustment event had occurred immediately prior to
the date of this Warrant and the original Exercise Price had been fairly
allocated to the stock resulting from such capital adjustment; and in other
respects the provisions of this Section shall be applied in a fair, equitable
and reasonable manner so as to give effect, as nearly as may be, to the purposes
hereof. A rights offering to stockholders shall be deemed a stock dividend to
the extent of the bargain purchase element of the rights.

               6.3  Adjustment for Spin Off. If, for any reason, prior to the
                    -----------------------
exercise of this Warrant in full, the Company spins off or otherwise divests
itself of a part of its business or

                                       3
<PAGE>

operations or disposes of all or a part of its assets in a transaction (the
"Spin Off') in which the Company does not receive compensation for such
business, operations or assets, but causes securities of another entity (the
"Spin Off Securities") to be issued to security holders of the Company, then

               (a)  the Company shall cause (i) to be reserved Spin Off
Securities equal to the number thereof which would have been issued to the
Holder had all of the Holder's unexercised Warrants outstanding on the record
date (the "Record Date") for determining the amount and number of Spin Off
Securities to be issued to security holders of the Company (the "Outstanding
Warrants") been exercised as of the close of business on the trading day
immediately before the Record Date (the "Reserved Spin Off Shares"), and (ii) to
be issued to the Holder on the exercise of all or any of the Outstanding
Warrants, such amount of the Reserved Spin Off Shares equal to (x) the Reserved
Spin Off Shares multiplied by (y) a fraction, of which (I) the numerator is the
amount of the Outstanding Warrants then being exercised, and (II) the
denominator is the amount of the Outstanding Warrants; and

               (b)  the Exercise Price on the Outstanding Warrants shall be
adjusted immediately after consummation of the Spin Off by multiplying the
Exercise Price by a fraction (if, but only if, such fraction is less than 1.0),
the numerator of which is the Average Market Price of the Common Stock (as
defined below) for the five (5) trading days immediately following the fifth
trading day after the Record Date, and the denominator of which is the Average
Market Price of the Common Stock on the five (5) trading days immediately
preceding the Record Date; and such adjusted Exercise Price shall be deemed to
be the Exercise Price with respect to the Outstanding Warrants after the Record
Date. As used herein, the term "Average Market Price of the Common Stock" means
the average closing bid price of a share of Common Stock, as reported by the
Reporting Service for the relevant period.

               6.4  Sale of Company or Cash Merger. If the Company is sold for
                    ------------------------------
cash or otherwise in a transaction where the shareholders receive consideration
other than common stock of a successor publicly held corporation (such as, for
example, in a "cash out" merger), the Company shall give the Holder at least
fifteen (15) days' written notice thereof. Upon the giving of such notice, (i)
the Holder shall have the right, at any time through and including the day
before the consummation of such transaction, to effect either a "cashless"
exercise of this Warrant as provided in Section 2.1(b) hereof, without regard to
whether or not the conditions of clauses (i) or (ii) thereof have been met, or a
cash exercise as provided in Section 2.1(c) hereof and (ii) any unexercised
portion of the Warrant as of the close of business on the day before the
consummation of such transaction shall be deemed to have been exercised in a
"cashless" exercise as of such date (which shall be deemed to be the Exercise
Date for such exercise) without further action by the Holder. The provisions of
Section 2.2 hereof shall not apply to an exercise of this Warrant pursuant to
this Section 6.4.

          7.   Transfer to Comply with the Securities Act; Registration Rights.
               ---------------------------------------------------------------

               7.1  Transfer. This Warrant has not been registered under the
                    --------
Securities Act of 1933, as amended, (the "Act") and has been issued to the
Holder for investment and not with a view to the distribution of either the
Warrant or the Warrant Shares. This Warrant or any of the Warrant Shares may be
transferred or exchanged only in compliance with the Act and

                                       4
<PAGE>

other applicable state and foreign securities laws and the terms of the
Securities Purchase Agreement. Each certificate for the Warrant and the Warrant
Shares shall contain a legend on the face thereof, in form and substance
satisfactory to counsel for the Company, setting forth the restrictions on
transfer contained in this Section.

               7.2  Registration Rights. (a) Reference is made to the
                    -------------------
Registration Rights Agreement. If the Company registers the Conversion Shares
pursuant to the Registration Rights Agreement, the Company's obligations under
the Registration Rights Agreement and the other terms and conditions thereon
including, but not necessarily limited to, the Company's commitment to file a
registration statement including the Warrant Shares, to have the registration of
the Warrant Shares completed and effective, and to maintain such registration,
shall apply with respect to the Warrant Shares and shall be deemed incorporated
herein by reference.

               (b)  The provisions of Section 7.2(a) hereof to the contrary
notwithstanding, during the period from the date hereof through the date when
all Warrant Shares have been sold, the Holder shall have piggy-back registration
rights with respect to the Warrant Shares then held by the Holder or then
subject to issuance upon exercise of this Warrant (collectively, the "Remaining
Warrant Shares"), subject to the conditions set forth below. If at any time
during that period (including after a previous Effective Registration Statement
has ceased to be effective), the Company participates (whether voluntarily or by
reason of an obligation to a third party) in the registration of any shares of
the Company's stock (other than a registration on Form S-8), the Company shall
include all of the Holder's Remaining Warrant Shares in such registration
statement at no cost or expense to the Holder (other than any costs or
commissions which would be borne by the Holder under the terms of the
Registration Rights Agreement).

               (c)  The Holder's rights under this Section 7 shall expire at
such time as the Holder can sell all of the Remaining Warrant Shares under Rule
144 without volume or other restrictions or limit.

          8.   Notices. Any notice or other communication required or permitted
               -------
hereunder shall be in writing and shall be delivered personally, telegraphed,
telexed, sent by facsimile transmission or sent by certified, registered or
express mail, postage pre-paid. Any such notice shall be deemed given when so
delivered personally, telegraphed, telexed or sent by facsimile transmission,
or, if mailed, two days after the date of deposit in the United States mails, as
follows:

               (i)   if to the Company, to:

                     SPEEDCOM WIRELESS CORPORATION
                     1748 Independence Blvd., C-5
                     Sarasota, FL 34243
                     Attn: Jay Wright, CFO
                     Telephone No.: (941) 358-9283
                     Telecopier No.: (941) 358-6208

                                       5
<PAGE>

               (ii)  if to the Holder, to:

                     Attn:
                     Telephone No.:  (  )  -
                     Telecopier No.: (  )  -

                     with a copy to:

                     Krieger & Prager LLP
                     39 Broadway
                     Suite 1440
                     New York, NY 10006
                     Attn: Ronald Nussbaum, Esq.
                     Telephone No.: (212) 363-2900
                     Telecopier No. (212) 363-2999

Any party may be notice given in accordance with this Section to the other
parties designate another address or person for receipt of notices hereunder.

          9.   Supplements and Amendments; Whole Agreement. This Warrant may be
               -------------------------------------------
amended or supplemented only by an instrument in writing signed by the parties
hereto. This Warrant contains the full understanding of the parties hereto with
respect to the subject matter hereof and thereof and there are no
representations, warranties, agreements or understandings other than expressly
contained herein and therein.

          10.  Governing Law. This Warrant shall be deemed to be a contract made
               -------------
under the laws of the State of Delaware for contracts to be wholly performed in
such state and without giving effect to the principles thereof regarding the
conflict of laws. Each of the parties consents to the jurisdiction of the
federal courts whose districts encompass any part of the City of Wilmington or
the state courts of the State of Delaware sitting in the City of Wilmington in
connection with any dispute arising under this Warrant and hereby waives, to the
maximum extent permitted by law, any objection, including any objection based on
forum non conveniens, to the bringing of any such proceeding in such
jurisdictions. To the extent determined by such court, the Company shall
reimburse the Holder for any reasonable legal fees and disbursements incurred by
the Holder in enforcement of or protection of any of its rights under any of the
Transaction Agreements.

          11.  Counterparts. This Warrant may be executed in any number of
               ------------
counterparts and each of such counterparts shall for all purposes be deemed to
be an original, and all such counterparts shall together constitute but one and
the same instrument.

          12.  Descriptive Headings. Descriptive headings of the several
               --------------------
Sections of this Warrant are inserted for convenience only and shall not control
or affect the meaning or construction of any of the provisions hereof.

                                       6
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have executed this Warrant as
of the __th day of ________________, 2001.
         --

                              SPEEDCOM WIRELESS
                              CORPORATION

                              By: ___________________________
                                     Name: __________________
                                     Its: ___________________

                                       7
<PAGE>

                         NOTICE OF EXERCISE OF WARRANT

     The undersigned hereby irrevocably elects to exercise the right,
represented by the Warrant Certificate dated as of _______________, ___ to
purchase ____________ shares of the Common Stock, no par value per share, of
SPEEDCOM WIRELESS CORPORATION and tenders herewith payment in accordance with
Section 1 of said Common Stock Purchase Warrant.

     Please deliver the stock certificate to:

Dated: ___________________

__________________________
[Name of Holder]

By: ______________________

      CASH:     $______________

      *CASHLESS EXERCISE

_________________

     *The right to elect a "Cashless Exercise" is subject to the provisions of
Section 2.1(b) of this Warrant.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00031-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00031-of-00352.parquet"}]]