Document:

THIS
      WARRANT AND THE COMMON SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT
      BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THIS WARRANT
      AND
      THE COMMON SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD,
      OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE
      REGISTRATION STATEMENT UNDER SAID ACT OR AN OPINION OF COUNSEL REASONABLY
      SATISFACTORY TO IPTIMIZE, INC. THAT SUCH REGISTRATION IS NOT
      REQUIRED.

    

    
      	
              No. 

              Issue
                Date: 

            	
              Right
                to Purchase ____________  shares
                of Common Stock of IPtimize, Inc. (subject
                to adjustment as provided herein)

            

    

    

    COMMON
      STOCK PURCHASE WARRANT

     

    IPtimize,
      Inc., a corporation organized under the laws of the State of Minnesota (the
      “Company”), hereby certifies that, for value received, __
      _______ or
      its
      assigns (the “Holder”), is entitled, subject to the terms set forth below, to
      purchase from the Company at any time after the Issue Date until 5:00 p.m.,
      E.S.T. on the _
      _______
      anniversary of the Issue Date (the “Expiration Date”), up to  _________
      fully
      paid and nonassessable shares of Common Stock at a per share purchase price
      of
$
      ____.
      The
      aforedescribed purchase price per share, as adjusted from time to time as herein
      provided, is referred to herein as the "Purchase Price." The number and
      character of such shares of Common Stock and the Purchase Price are subject
      to
      adjustment as provided herein. The Company may reduce the Purchase Price without
      the consent of the Holder. 

    

    As
      used
      herein the following terms, unless the context otherwise requires, have the
      following respective meanings: 

     

    (a) The
      term
“Common Stock” shall mean the Company's Common Stock, par value of $0.001 per
      share.

     

    (b) The
      term
“Other Securities” refers to any stock (other than Common Stock) and other
      securities of the Company or any other person (corporate or otherwise) which
      the
      holder of the Warrant at any time shall be entitled to receive, or shall have
      received, on the exercise of the Warrant, in lieu of or in addition to Common
      Stock, or which at any time shall be issuable or shall have been issued in
      exchange for or in replacement of Common Stock or Other Securities pursuant
      to
      Section 5 or otherwise. 

     

    (c) The
      term
“Warrant Shares” shall mean the Common Stock issuable upon exercise of this
      Warrant.

     

    1.    
Exercise
      of Warrant.

     

    1.1. Number
      of Shares Issuable upon Exercise.
      From
      and after the Issue Date through and including the Expiration Date, the Holder
      hereof shall be entitled to receive, upon exercise of this Warrant in whole
      in
      accordance with the terms of subsection 1.2 or upon exercise of this
      Warrant in part in accordance with subsection 1.3, shares of Common Stock
      of the Company, subject to adjustment pursuant to Section 4.

     

    1.2. Full
      Exercise.
      This
      Warrant may be exercised in full by the Holder hereof by delivery of an original
      or facsimile copy of the form of subscription attached as Exhibit A hereto
      (the “Subscription Form") duly executed by such Holder and surrender of the
      original Warrant within five (5) business days of exercise, to the Company
      at
      its principal office or at the office of its Warrant Agent (as provided
      hereinafter), accompanied by payment, in cash, wire transfer or by certified
      or
      official bank check payable to the order of the Company, in the amount obtained
      by multiplying the number of shares of Common Stock for which this Warrant
      is
      then exercisable by the Purchase Price then in effect. 

     

    
      
        
        

      

      
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    1.3. Partial
      Exercise.
      This
      Warrant may be exercised in part (but not for a fractional share) by surrender
      of this Warrant in the manner and at the place provided in subsection 1.2
      except that the amount payable by the Holder on such partial exercise shall
      be
      the amount obtained by multiplying (a) the number of whole shares of Common
      Stock designated by the Holder in the Subscription Form by (b) the Purchase
      Price then in effect. On any such partial exercise, the Company, at its expense,
      will forthwith issue and deliver to or upon the order of the Holder hereof
      a new
      Warrant of like tenor, in the name of the Holder hereof or as such Holder (upon
      payment by such Holder of any applicable transfer taxes) may request, the whole
      number of shares of Common Stock for which such Warrant may still be
      exercised.

     

    1.4. Fair
      Market Value.
      Fair
      Market Value of a share of Common Stock as of a particular date (the
      "Determination Date") shall mean: 

     

    (a) If
      the
      Company's Common Stock is traded on an exchange or is quoted on the National
      Association of Securities Dealers, Inc. Automated Quotation ("NASDAQ"), National
      Market System, the NASDAQ SmallCap Market or the American Stock Exchange, LLC,
      then the closing or last sale price, respectively, reported for the last
      business day immediately preceding the Determination Date;

     

    (b) If
      the
      Company's Common Stock is not traded on an exchange or on the NASDAQ National
      Market System, the NASDAQ SmallCap Market or the American Stock Exchange, Inc.,
      but is traded in the over-the-counter market, then the average of the closing
      bid and ask prices reported for the last business day immediately preceding
      the
      Determination Date;

     

    (c) If
      the
      Company's Common Stock is not publicly traded, then as the Holder and the
      Company agree, or in the absence of such an agreement, by arbitration in
      accordance with the rules then standing of the American Arbitration Association,
      before a single arbitrator to be chosen from a panel of persons qualified by
      education and training to pass on the matter to be decided; or

     

    1.5. Delivery
      of Stock Certificates, etc. on Exercise.
      The
      Company agrees that the shares of Common Stock purchased upon exercise of this
      Warrant shall be deemed to be issued to the Holder hereof as the record owner
      of
      such shares as of the close of business on the date on which this Warrant shall
      have been surrendered and payment made for such shares as aforesaid. As soon
      as
      practicable after the exercise of this Warrant in full or in part, and in any
      event within seven (7) business
      days
      thereafter, the Company will cause to be issued in the name of and delivered
      to
      the Holder hereof, or as such Holder (upon payment by such Holder of any
      applicable transfer taxes) may direct in compliance with applicable securities
      laws, a certificate or certificates for the number of duly and validly issued,
      fully paid and nonassessable shares of Common Stock (or Other Securities) to
      which such Holder shall be entitled on such exercise. 

     

    2.     Adjustment
      for Reorganization, Consolidation, Merger, etc.

     

    2.1. Reorganization,
      Consolidation, Merger, etc.
      In case
      at any time or from time to time, the Company shall (a) effect a
      reorganization, (b) consolidate with or merge into any other person or
      (c) transfer all or substantially all of its properties or assets to any
      other person under any plan or arrangement contemplating the dissolution of
      the
      Company, then, in each such case, as a condition to the consummation of such
      a
      transaction, proper and adequate provision shall be made by the Company whereby
      the Holder of this Warrant, on the exercise hereof as provided in
      Section 1, at any time after the consummation of such reorganization,
      consolidation or merger or the effective date of such dissolution, as the case
      may be, shall receive, in lieu of the Common Stock (or Other Securities)
      issuable on such exercise prior to such consummation or such effective date,
      the
      stock and other securities and property (including cash) to which such Holder
      would have been entitled upon such consummation or in connection with such
      dissolution, as the case may be, if such Holder had so exercised this Warrant,
      immediately prior thereto, all subject to further adjustment thereafter as
      provided in Section 3.

     

    2.2. Continuation
      of Terms.
      Upon
      any reorganization, consolidation, merger or transfer referred to in this
      Section 2, this Warrant shall continue in full force and effect and the
      terms hereof shall be applicable to the Other Securities and property receivable
      on the exercise of this Warrant after the consummation of such reorganization,
      consolidation or merger, as the case may be, and shall be binding upon the
      issuer of any Other Securities, including, in the case of any such transfer,
      the
      person acquiring all or substantially all of the properties or assets of the
      Company, whether or not such person shall have expressly assumed the terms
      of
      this Warrant as provided in Section 4. 

     

    
      
        
        

      

      
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    3.     Extraordinary
      Events Regarding Common Stock.
      In the
      event that the Company shall (a) issue additional shares of the Common
      Stock as a dividend or other distribution on outstanding Common Stock,
      (b) subdivide its outstanding shares of Common Stock, or (c) combine
      its outstanding shares of the Common Stock into a smaller number of shares
      of
      the Common Stock, then, in each such event, the Purchase Price shall,
      simultaneously with the happening of such event, be adjusted by multiplying
      the
      then Purchase Price by a fraction, the numerator of which shall be the number
      of
      shares of Common Stock outstanding immediately prior to such event and the
      denominator of which shall be the number of shares of Common Stock outstanding
      immediately after such event, and the product so obtained shall thereafter
      be
      the Purchase Price then in effect. The Purchase Price, as so adjusted, shall
      be
      readjusted in the same manner upon the happening of any successive event or
      events described herein in this Section 3. The number of shares of Common
      Stock that the Holder of this Warrant shall thereafter, on the exercise hereof
      as provided in Section 1, be entitled to receive shall be adjusted to a
      number determined by multiplying the number of shares of Common Stock that
      would
      otherwise (but for the provisions of this Section 3) be issuable on such
      exercise by a fraction of which (a) the numerator is the Purchase Price
      that would otherwise (but for the provisions of this Section 4) be in
      effect, and (b) the denominator is the Purchase Price in effect on the date
      of such exercise.

     

    4.     Certificate
      as to Adjustments.
      In each
      case of any adjustment or readjustment in the shares of Common Stock (or Other
      Securities) issuable on the exercise of the Warrants, the Company will promptly
      cause its Chief Financial Officer or other appropriate designee to compute
      such
      adjustment or readjustment in accordance with the terms of the Warrant and
      prepare a certificate setting forth such adjustment or readjustment and showing
      in detail the facts upon which such adjustment or readjustment is based,
      including a statement of (a) the number of shares of Common Stock (or Other
      Securities) outstanding or deemed to be outstanding, and (b) the Purchase
      Price and the number of shares of Common Stock to be received upon exercise
      of
      this Warrant, in effect immediately prior to such adjustment or readjustment
      and
      as adjusted or readjusted as provided in this Warrant. The Company will
      forthwith mail a copy of each such certificate to the Holder of the
      Warrant.

     

    5.     Reservation
      of Stock.
      The
      Company will at all times reserve and keep available, solely for issuance and
      delivery on the exercise of the Warrants, all shares of Common Stock (or Other
      Securities) from time to time issuable on the exercise of the Warrant.

     

    6.     Assignment;
      Exchange of Warrant.
      Subject
      to compliance with applicable securities laws, this Warrant, and the rights
      evidenced hereby, may be transferred by any registered holder hereof (a
      "Transferor"). On the surrender for exchange of this Warrant, with the
      Transferor's endorsement in the form of Exhibit B attached hereto (the
“Transferor Endorsement Form") and together with an opinion of counsel
      reasonably satisfactory to the Company that the transfer of this Warrant will
      be
      in compliance with applicable securities laws, the Company at its expense,
      twice, only, but with payment by the Transferor of any applicable transfer
      taxes, will issue and deliver to or on the order of the Transferor thereof
      a new
      Warrant or Warrants of like tenor, in the name of the Transferor and/or the
      transferee(s) specified in such Transferor Endorsement Form (each a
      "Transferee"), calling in the aggregate on the face or faces thereof for the
      number of shares of Common Stock called for on the face or faces of the Warrant
      so surrendered by the Transferor. 

     

    7.     Replacement
      of Warrant.
      On
      receipt of evidence reasonably satisfactory to the Company of the loss, theft,
      destruction or mutilation of this Warrant and, in the case of any such loss,
      theft or destruction of this Warrant, on delivery of an indemnity agreement
      or
      security reasonably satisfactory in form and amount to the Company or, in the
      case of any such mutilation, on surrender and cancellation of this Warrant,
      the
      Company at its expense, twice only, will execute and deliver, in lieu thereof,
      a
      new Warrant of like tenor.

     

    
      
        
        

      

      
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    8.     Transfer
      on the Company's Books.
      Until
      this Warrant is transferred on the books of the Company, the Company may treat
      the registered holder hereof as the absolute owner hereof for all purposes,
      notwithstanding any notice to the contrary. 

     

    9.     Notices.
      All
      notices, demands, requests, consents, approvals, and other communications
      required or permitted hereunder shall be in writing and, unless otherwise
      specified herein, shall be (i) personally served, (ii) deposited in the mail,
      registered or certified, return receipt requested, postage prepaid, (iii)
      delivered by reputable air courier service with charges prepaid, or (iv)
      transmitted by hand delivery, telegram, or facsimile, addressed as set forth
      below or to such other address as such party shall have specified most recently
      by written notice. Any notice or other communication required or permitted
      to be
      given hereunder shall be deemed effective (a) upon hand delivery or delivery
      by
      facsimile, with accurate confirmation generated by the transmitting facsimile
      machine, at the address or number designated below (if delivered on a business
      day during normal business hours where such notice is to be received), or the
      first business day following such delivery (if delivered other than on a
      business day during normal business hours where such notice is to be received)
      or (b) on the second business day following the date of mailing by express
      courier service, fully prepaid, addressed to such address, or upon actual
      receipt of such mailing, whichever shall first occur. The addresses for such
      communications shall be: (i) if to the Company to: IPtimize,
      Inc., 4949
      S.
      Syracuse Street, Suite 450, Denver, Colorado 80237. Attn: Christopher
      M. Reim, telecopier number: (303) 268-3639, with a copy by telecopier only
      to:
      Berkman, Henoch, Peterson & Peddy, P.C., Attn: Jeffrey M. Stein, Esq.,
      telecopier number: (516) 222-6209, and (ii) if to the Holder, to the address
      and
      telecopier number listed on the first paragraph of this Warrant.

     

    10.    Miscellaneous.
      This
      Warrant and any term hereof may be changed, waived, discharged or terminated
      only by an instrument in writing signed by the party against which enforcement
      of such change, waiver, discharge or termination is sought. This Warrant shall
      be construed and enforced in accordance with and governed by the laws of
      Colorado. Any dispute relating to this Warrant shall be adjudicated in the
      City
      and County of Denver in the State of Colorado. The headings in this Warrant
      are
      for purposes of reference only, and shall not limit or otherwise affect any
      of
      the terms hereof. The invalidity or unenforceability of any provision hereof
      shall in no way affect the validity or enforceability of any other provision.
      

     

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

    
      	 	 	 
	 	IPtimize,
              Inc.
              
	 
 	 
 	 
	 	By:  	 
	 	
              
Clint
              J. Wilson
	 	
              President
                and Chief Executive Officer 

            

    

     

    
      
        
        

      

      
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    Exhibit A

    

    FORM
      OF SUBSCRIPTION

    (to
      be
      signed only on exercise of Warrant)

     

    TO:
      IPtimize, Inc.

     

    The
      undersigned, pursuant to the provisions set forth in the attached Warrant
      (No._____________), hereby irrevocably elects to purchase __________________ shares
      of
      Common Stock, par value $.001 per share (the “Common Stock”) of IPtimize,
      Inc.,
      pursuant
      to the terms of the attached Warrant.

     

    The
      undersigned herewith makes payment (in lawful money of the United States) of
      the
      full purchase price for such shares at the price per share provided for in
      such
      Warrant, which is $______________________.
      

    

    The
      undersigned requests that the certificates for such shares be issued in the
      name
      of, and delivered to: __________________________________________________________________________,
      whose
      address is _______________________________________________________________________.

     

    The
      undersigned represents and warrants that all offers and sales by the undersigned
      of the securities issuable upon exercise of the within Warrant shall be made
      pursuant to registration of the Common Stock under the Securities Act of 1933,
      as amended (the "Securities Act"), or pursuant to an exemption from registration
      under the Securities Act.

     

    
      	 	 	 
	Dated: ___________________	  	 
	 	
              
                

              

              (Signature must conform to name of holder
                as
                specified 

              on the face of the Warrant)

            
	 	
               

               

            
	 	
              
                

              

               

               

            
	 	
              

              (Address)

            
	 	
               

            

    

     

    
      
        
        

      

      
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    Exhibit B

    

    FORM
      OF TRANSFEROR ENDORSEMENT

    (To
      be
      signed only on transfer of Warrant)

     

    For
      value
      received, the undersigned hereby sells, assigns, and transfers unto the
      person(s) named below under the heading "Transferees" the right represented
      by
      the within Warrant to purchase the percentage and number of shares of Common
      Stock of IPtimize, Inc. to which the within Warrant relates specified under
      the
      headings "Percentage Transferred" and "Number Transferred," respectively,
      opposite the name(s) of such person(s) and appoints each such person Attorney
      to
      transfer its respective right on the books of IPtimize, Inc. with full power
      of
      substitution in the premises.

    

    
      	
              Transferees

            	
              Percentage
                Transferred

            	
              Number
                Transferred

            
	 	 	 
	 	 	 
	 	 	 

    

     

    
      	
              Dated:
                ______________, ____________

               

               

               

              Signed
                in the presence of:

               

              ____________________________

              (Name)

               

               

              ACCEPTED
                AND AGREED:

              [TRANSFEREE]

               

               

              ____________________________

              (Name)

            	
              __________________________________________________

              (Signature
                must conform to name of holder as specified on the face of the
                warrant)

               

               

               

              __________________________________________________

              __________________________________________________

              (address)

               

              __________________________________________________

              __________________________________________________

              (address)FOUNDER’S
      EMPLOYMENT AGREEMENT 

     

    THIS
      FOUNDER’S EMPLOYMENT AGREEMENT (this “Agreement”), effective as of this October
      1, 2005, is entered into by and between Iptimize Incorporated, a Colorado
      corporation (the “Company”), and Clint Wilson, an individual
      (“Founder”).

    

    RECITALS

    

    A.     Founder
      has participated in, and had been instrumental to, the formation and
      organization of the Company, contributing time, business knowledge, skill,
      and
      expertise.

     

    B.     Recognizing
      that Founder’s continued employment with the Company is essential to its ongoing
      operations, growth, and success, the Company desires Founder to remain in the
      employ of the Company.

     

    C.     The
      Company desires to retain the services and to continue to employ Founder upon
      the terms and conditions set forth herein, and Founder desires to continue
      in
      the employ of the Company and to provide services to the Company on the terms
      and conditions set forth herein.

     

    AGREEMENT

     

    NOW
      THEREFORE, in consideration of the covenants and obligations set forth in this
      Agreement, and other good and valuable consideration, the receipt and
      sufficiency of which is hereby acknowledged, Company and Founder hereby agree
      as
      follows:

     

    1.     Employment.
      The
      Company hereby employs Founder, and Founder accepts such employment and agrees
      to perform services for the Company upon the terms and conditions set forth
      in
      this Agreement.

     

    2.     Term.
      Unless
      terminated at an earlier date in accordance with Section 8 of this Agreement,
      the term of Founder’s employment hereunder (the "Term") shall commence on the
      effective date of this Agreement and shall end five (5) years from the effective
      date of this Agreement.

     

    3.     Position
      and Duties.

     

    3.1. Service
      with Company.
      During
      the term of this Agreement, Founder agrees to perform such reasonable employment
      duties as delegated to Founder, from time to time, by the board of directors
      of
      the Company (the “Board”). Founder shall have such title and authority, subject
      to the Company’s Articles of Incorporation and Bylaws, as may be granted by the
      Board.

     

    3.2. Performance
      of Duties.
      Founder
      covenants and agrees to serve the Company faithfully and to the best of his
      ability and to devote his time, attention, and effort to the business and
      affairs of the Company during the term of this Agreement, provided however,
      that
      the covenants set forth in this Section 3.2 shall not be construed to prohibit
      Founder from devoting periods of time to (a) serving on the board of directors
      of the Company or such other boards or advisory boards as the founder shall
      determine in his interest, its subsidiaries, or other corporations, so long
      as
      such service would not otherwise be prohibited by Section 6 hereof, (b) engaging
      in charitable or community service activities, or (c) participating in
      professional organizations so long as organizational activities do not
      materially interfere with any of Founder’s duties or obligations under this
      Agreement.

     

    
      
        
        

      

      
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    4.     Compensation.
      

     

    4.1. Base
      Salary.
      Commencing October 1, 2005, as annual compensation for all services to be
      rendered by Founder under this Agreement, before all customary payroll
      deductions, the Company shall pay to Founder an annual base salary of One
      Hundred Forty Four Thousand Dollars ($144,000), which salary shall be paid
      in
      installments on not less than a monthly basis in accordance with the Company’s
      normal payroll procedures and policies. The compensation payable to Founder
      during each subsequent year during the term of this Agreement shall be
      established by the Board, but in no event shall the salary for any subsequent
      year be less than the salary in effect for the prior year.

     

    4.2. Incentive
      Compensation.
      In
      addition to the base salary described in Section 4.1 above, Founder shall be
      eligible for an additional 50% performance compensation plan based on mutually
      agreed performance targets set by the Board of Directors (BOD); payable
      quarterly.

     

    4.3. Participation
      in Benefit Plans.
      During
      the term of this Agreement, and to the extent that Founder’s age, position, or
      other factors qualify him for such fringe benefits, Founder shall be entitled
      to
      receive such medical and hospitalization insurance and other fringe benefits
      as
      are being provided, from time to time, such benefits are to be paid in full
      by
      the company on behalf of the founder. 

     

    4.4. Expenses.
      The
      Company will pay or reimburse Founder for all reasonable and necessary
      out-of-pocket expenses incurred by him in the performance of his duties under
      this Agreement, subject to the presentment by Founder of appropriate invoices,
      bills, or receipts; in the course of his duties founder travels and entertains
      various business clients for the purposes of money raising, investment
      activities, mergers and acquisition activities and business development
      activities. Founder is entitled to such re-imbursement of expenses as he submits
      with credit card statement information and other supporting documentation as
      my
      be available of proof of expenses. 

     

    5.     Confidential
      Information.
      Except
      as permitted or directed by the Company, during the term of this Agreement
      or at
      any time thereafter, Founder shall not divulge, furnish, or make accessible
      to
      anyone or use in any way (other than in the ordinary course of the business
      of
      the Company) any confidential or secret knowledge, information, or intellectual
      property of the Company which Founder has acquired or become acquainted with
      or
      will acquire or become acquainted with during the period of his employment
      by
      the Company, whether developed by himself or by others concerning any trade
      secrets, confidential or secret designs, processes, formulae, plans, devices
      or
      material (whether or not patented or patentable) directly or indirectly useful
      in any aspect of the business of the Company, any secret development or research
      work of the Company, or any other confidential or proprietary information of
      the
      Company (the “Confidential Information”). Founder acknowledges that the
      Confidential Information constitutes a unique and valuable asset of the Company
      and represents a substantial investment of time and expense by the Company,
      and
      that disclosure or other use of such Confidential Information other than for
      the
      sole benefit of the Company would cause irreparable harm to the Company. Both
      during and after the term of this Agreement, Founder will completely refrain
      from any acts or omissions that would reduce the value of such Confidential
      Information to the Company. The foregoing obligations of confidentiality,
      however, shall not apply to any knowledge or information which is now published
      or which subsequently becomes generally publicly known other than by a direct
      or
      indirect result of the breach of this Agreement by Founder. 

     

    
      
        
        

      

      
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    6.     Non-competition
      Covenant.
      

     

    6.1. Covenant
      Not to Compete.
      Founder
      agrees that during the term of this Agreement, and for a period of one (1)
      years
      from and after the date of the termination or expiration of this Agreement,
      Founder shall not, directly or indirectly, engage in competition with the
      Company in the research, commercial application, development, or implementation
      of wireless broadband or wireless internet delivery services in any manner
      or
      capacity (e.g., as an advisor, principal, agent, consultant, independent
      contractor, partner, officer, director, control person, stockholder, employee,
      member of any association, or otherwise).

     

    6.2. Geographic
      Extent of Covenant.
      The
      obligations of Founder under Section 6.1 of this Agreement shall apply to any
      geographic area in which the Company: (a) has engaged in business during the
      term of this Agreement through conducting research, production, promotional,
      sales, marketing, or other business activity, or (b) has established any
      customer or supplier relationships, goodwill, or business
      reputation.

     

    6.3. Limitations
      on Covenant.
      The
      following shall not constitute a breach of this Section 6:

     

    6.3.1. Ownership
      by Founder, as a passive investment, of 5% or less of the outstanding shares
      of
      capital stock of any corporation listed on a national securities exchange or
      publicly trades in the over-the-counter market; or 

     

    6.3.2. Founder’s
      engaging in any business activities other than the research, development,
      commercial application, or implementation of wireless broadband or wireless
      internet delivery services.

     

    6.4. Indirect
      Competition.
      Founder
      further agrees that, during the term of this Agreement, he will not, directly
      or
      indirectly, assist or encourage any other person or entity in carrying out
      any
      activity that would be prohibited by the above provisions of this Section 6
      if
      such action were to be carried out by Founder, either directly or indirectly;
      and, in particular, Founder agrees that he will not, directly or indirectly,
      induce any employee of the Company to carry out any such activity.

     

    
      
        
        

      

      
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    6.5. No
      Interference; No solicitation.
      Consistent with the provisions of Section 6 of this Agreement, Founder shall
      not
      take any action to interfere with the relationships between the Company and
      its
      respective customers and suppliers. Therefore, during the one (1) year period
      following the termination or expiration of this Agreement, Founder shall not
      directly or indirectly through any person or entity (a) induce or attempt to
      induce any employee of the Company, or any subsidiary or affiliate to leave
      the
      employ of the Company or such subsidiary or affiliate; (b) hire any person
      who
      was an employee of the Company or its subsidiaries or affiliates at any time
      during the one (1) year period prior to such hiring, or (c) induce or attempt
      to
      induce any customer, supplier, licensee, or other business relation of the
      Company or its subsidiaries or affiliates to withdraw, curtail, or cease doing
      business with the Company or its subsidiaries or affiliates.

     

    7.     Intellectual
      Property.
      

     

    7.1. Disclosure
      and Assignment.
      Founder
      has disclosed, and will promptly disclose in writing to the Company complete
      information concerning each and every invention, discovery, improvement, device,
      design, apparatus, practice, process, method, or product, whether or not
      patentable, made developed, perfected, devised, conceived or first reduce to
      practice by Founder, either solely or in collaboration with others, prior to
      or
      during the term of this Agreement, whether or not during regular working hours,
      relating either directly or indirectly to the business, products, practices,
      or
      techniques of the Company (the “Developments”). Founder, to the extent that he
      has the legal right to do so, hereby acknowledges that any and all of said
      Developments are the property of the Company and hereby assigns and agrees
      to
      assign to the Company any and all of Founder’s right, title, and interest in and
      to any and all such Developments.

     

    7.2. Future
      Developments.
      As to
      any future Developments made by Founder which relate to the business, products,
      or practices of the Company that are first conceived or reduced to practice
      during the term of this Agreement but which are claimed for any reason to belong
      to an entity or person other than the Company, Founder will promptly disclose
      the same in writing to the Company and shall not disclose the same to others
      if
      the Company, within twenty (20) days thereafter, shall claim ownership of such
      Developments under the terms of this Agreement. 

     

    7.3. Limitation
      on Intellectual Property Restrictions.
      The
      provisions of Section 7 of this Agreement shall not apply to any Developments
      meeting the following conditions:

     

    7.3.1. such
      Development is developed entirely on Founder’s own time and is not related to
      the research, development, commercial application, or implementation of wireless
      broadband or wireless internet delivery services;

     

    
      
        
        

      

      
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    7.3.2. such
      Development was made without the use of any material Company equipment,
      supplies, facilities, or Confidential Information, and

     

    7.3.3. such
      Development does not relate (a) directly to the business of the Company or
      (b)
      to the Company’s actual or demonstrably planned, budgeted, and funded research
      or development, and

     

    7.3.4. such
      Development does not result form any work performed by Founder for the
      Company.

     

    7.4. Further
      Assurance.
      Upon
      request and without further compensation therefor, but at no expense to Founder,
      and whether during the term of this Agreement or thereafter, Founder will do
      all
      lawful acts, including but not limited to, the execution of papers and lawful
      oaths, and the giving of testimony, that in the opinion of the Company, its
      successors and assigns, may be necessary or desirable in obtaining, sustaining,
      reissuing, extending and enforcing United States and foreign patents, including,
      but not limited to, design patents, on any and all such Developments, and for
      perfecting, affirming and recording the Company’s complete ownership and title
      thereto, and to cooperate otherwise in all proceedings and matters relating
      thereto.

     

    7.5. Records.
      Founder
      will keep complete, accurate, and authentic accounts, notes, data and records
      of
      all Developments in the manner and form requested by the Company. Such accounts,
      notes, data, and records shall be the property of the Company and upon the
      Company’s request; Founder will promptly surrender the same to the Company, and
      all copies thereof, upon the conclusion of his employment. 

     

    8.     Termination.

     

    8.1. Grounds
      for Termination.
      The
      Company shall have no right to terminate Founder, or otherwise cease to employ
      Founder under the terms of this Agreement, prior to the expiration of its Term,
      or any extension thereof, unless
      one or
      more of the following occur:

     

    8.1.1. Founder
      dies;

     

    8.1.2. Founder
      becomes Disabled (as defined below), so that, even with reasonable
      accommodation, he cannot perform the essential functions of his position,
      or

     

    8.1.3. The
      Company terminates this Agreement for Cause (as defined below) and notifies
      Founder in writing of such termination for Cause.

     

    If
      this
      Agreement is terminated pursuant to subsections 8.1.1 or 8.1.2, such termination
      shall be effective immediately. If this Agreement is terminated pursuant to
      subsection 8.1.3 of this Agreement, such termination shall be effective thirty
      (30) days after the delivery of the notice of termination. Termination of
      Founder prior to the expiration of this Agreement for any reason other than
      pursuant to subsections 8.1.1, 8.1.2, or 8.1.3, shall be deemed a "Termination
      without Cause."

     

    
      
        
        

      

      
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    8.2. Cause.
      For the
      purposes this Section 8 of the Agreement “Cause” shall be defined only as
      follows:

     

    8.2.1. Founder
      has breached the provisions of Sections 3, 5, 6, or 7 of this Agreement in
      any
      material respect; or

     

    8.2.2. Founder
      has committed fraud, misappropriation, or embezzlement in connection with the
      Company’s business;

     

    8.2.3. Founder
      has engaged in willful and material misconduct, including willful and material
      failure to perform Founder’s duties as an employee of the Company and has failed
      to “cure” such willful and material misconduct within (a) thirty (30) days after
      delivery by the Company of written notice of such willful and material
      misconduct, or (b) five (5) business days after personal delivery by the
      Company, and actual receipt by Founder, of written notice of such willful and
      material misconduct;

     

    8.2.4. Founder
      has voluntarily resigned without just cause, for a reason other than the
      Company's material breach of this Agreement;

     

    8.3. Termination
      for Cause.
      In the
      event the Company terminates Founder’s employment for Cause, pursuant to this
      Section 8, Founder shall have twenty (20) days after receipt of notice of such
      termination for Cause to object in writing to the Company’s determination that
      there exists Cause for termination. If Founder fails to object to any such
      determination of Cause in writing within such twenty (20) day period, he shall
      be deemed to have waived his right to object to the Company’s determination that
      Cause exists. 

     

    8.4. Effect
      of Termination.
      Upon
      the lawful termination or expiration of this Agreement, Founder, in
      consideration of his employment hereunder, shall remain bound by the provisions
      of this Agreement which by their terms survive the expiration or termination
      of
      this Agreement for the period’s time explicitly set forth in such
      sections.

     

    8.5. Disability.
      As used
      in this Agreement, the term “Disability” or “Disabled” means any mental or
      physical condition which renders Founder unable to perform the essential
      functions of his position, with or without reasonable accommodation, for a
      period in excess of one hundred twenty (120) consecutive days or more than
      one
      hundred eighty (180) days during any three hundred sixty five (365) day
      period.

     

    8.6. Surrender
      of Property.
      Upon
      termination of his employment with the Company, Employee shall deliver promptly
      to the Company all records, manuals, books, blank forms, documents, letters,
      memoranda, notes, notebooks, reports, data, tables, calculations, or copies
      thereof, which are the property of the Company or which relate in any way to
      the
      business, products, practices, or techniques of the Company, and all other
      property, trade secrets, Confidential Information, Developments, or other
      intellectual property of the Company, including but not limited to, all
      documents that in whole or in part contain any intellectual property, trade
      secrets, Confidential Information, or Developments of the Company, which are
      in
      Founder’s possession or control, and all copies thereof.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    8.7. Wage
      Continuation.
      If
      Founder’s employment by the Company is terminated by the Company pursuant to
      subsection 8.1.2 of this Agreement, the Company shall continue to pay to Founder
      his base salary (less any payments received by Founder from any disability
      income insurance policy provided to him under any benefit program of the
      Company) and shall continue to provide health and medical insurance benefits
      to
      Founder under any benefit program of the Company through the earlier to occur
      of
      (a) the remaining term of Founder’s employment pursuant to this Agreement or (b)
      twelve (12) months from the termination of Founder's employment pursuant to
      subsection 8.1.2 of this Agreement. If Founder's employment by the Company
      is
      terminated pursuant to subsection 8.1.1 of this Agreement, the Company shall
      continue to provided health and medical benefits to the Founder's dependents
      (if
      such dependents were covered by the Company's health and medical benefits plan
      immediately prior to Founder's death and termination pursuant subsection 8.1.1)
      for the longer of (a) the remaining term of Founder’s employment pursuant to
      this Agreement or (b) twelve (12) months from the termination of Founder's
      employment pursuant to subsection 8.1.1. If this Agreement is terminated
      pursuant to subsection 8.1.3, all of Founder’s right to compensation under this
      Agreement shall immediately terminate except as otherwise required by applicable
      law.

     

    8.8. Termination
      Without Cause.
      In the
      event Company terminates Founder without cause, Company shall:

     

    8.8.1. 
      immediately pay to Founder the base salary for (24) months;

     

    8.8.2. shall
      continue to provide health and medical insurance benefits to Founder under
      any
      benefit program of the Company through the earlier to occur of (a) the unexpired
      term of this Agreement plus twelve (12) months or (b) the enrollment of Founder,
      at Founder's election, into a separate health and medical insurance benefit
      program;

     

    8.8.3. the
      obligations of Founder to the Company under Sections 5, 7, and 8.6 shall cease
      and be inapplicable to Founder, and Founder shall not be bound by the
      obligations set forth in such Sections of this Agreement;

     

    8.8.4. A
      sale,
      exchange, or transfer of a substantial or material portion of the assets of
      the
      Company, or a sale of a control of the Company as defined in Rule 405 under
      the
      Securities Act of 1933, as amended, shall constitute, at the sole discretion
      of
      Founder, a Termination without cause under the terms of this Agreement, and
      shall entitle Founder to all of the express contractual remedies set forth
      in
      this subsection 8.8; and

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    8.8.5. The
      express contractual remedies set forth above in this subsection 8.8 are in
      addition to all other remedies that may be available to Founder at law or in
      equity.

     

    9.     Resolution
      of Certain Claims - Injunctive Relief.
      Founder
      agrees and acknowledges that, in addition to, but not to the exclusion of any
      other available remedy, the Company shall have the right to enforce the
      provisions of Sections 5, 6, 7, and 8.6 of this Agreement by applying for and
      obtaining temporary or permanent restraining orders or injunctive relief from
      a
      court of competent jurisdiction without the necessity of filing a bond
      therefor.

     

    10.    Miscellaneous.
      

     

    10.1. Capitalized
      Terms.
      Capitalized terms shall have the meanings set forth herein.

     

    10.2. Integration.
      This
      Agreement contains the entire agreement of the parties relating to the
      employment of Founder by the Company and the terms and conditions thereof,
      and
      supersedes all prior agreements and understandings with respect to such matters;
      the parties hereto acknowledge and agree that they have made no agreements,
      representations, or warranties relating to the subject matter of this Agreement
      that are not set forth herein.

     

    10.3. Severability.
      To the
      extent any provision of this Agreement shall be invalid or unenforceable, it
      shall be considered deleted here from and the remainder of such provision and
      the remainder of this Agreement shall be unaffected and shall continue in full
      force and effect. Provided however,
      should
      the duration, geographical extent of, or business activity constrained by any
      limitation or restriction set forth in this Agreement be in excess of that
      which
      is valid and enforceable under applicable law, then such limitation or
      restriction shall be construed to cover only the maximum duration or extent,
      or
      those activities which may be lawfully, validly and enforce ably limited or
      restricted by this Agreement, and the parties hereto expressly authorize a
      court
      of competent jurisdiction to reform those sections of this Agreement necessary
      to obtain such result.

     

    10.4. Governing
      Law; Venue.
      This
      Agreement is made under and shall be construed in accordance with the laws
      of
      the State of Colorado. Any action at law or in equity arising directly or
      indirectly in connection with or related to this Agreement or any provisions
      hereof, shall be litigated only in the state or federal courts of or located
      in
      Colorado, in the city and county of Denver. The parties hereto waive any right
      such party may otherwise have to transfer or change the venue of any litigation
      brought or arising in connection with this Agreement.

     

    10.5. Amendments.
      No
      amendment or modification of this Agreement shall be deemed effective unless
      made in writing and signed by the parties hereto.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    10.6. No
      Waiver.
      The
      waiver by any party to this Agreement of any breach, or the failure of any
      party
      to enforce any of the terms and conditions of this Agreement at any time shall
      not in any way affect, limit, or waive that party’s rights thereafter to enforce
      and/or compel strict compliance by the breaching party with any term or
      condition of this Agreement.

     

    10.7. Assignment.
      This
      Agreement shall not be assignable, in whole or in part, by any of the parties
      hereto without the written consent of the other party, except that the Company
      may assign its rights and obligations under this Agreement to any corporation,
      firm, or other business entity with or into which the Company may merger or
      consolidate, or to which the Company may sell or transfer all or substantially
      all of its assets. After such assignment by the Company, the Company shall
      be
      discharge from all further liability hereunder and such assignee shall
      thereafter be deemed to be the Company for the purposes of all provisions of
      this Agreement including this Section 10.7.

     

    10.8. Notices.
      Any
      notice required or permitted to be given by a party hereto shall be deemed
      validly given if personally delivered, mailed via first class mail, postage
      prepaid, or sent via overnight courier that insures next day delivery, such
      as
      Federal Express, and addressed as follows:

     

    If
      to
      Founder:

     

    Clint
      Wilson

    ________________

    ________________

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    If
      to
      Company:

     

    IPtimize,
      Inc.

    4949
      S.
      Syracuse St.

    Suite
      450

    Denver,
      CO 80237

    

    Provided
      however, a party hereto may from time to time notify the other party, in
      writing, of a new address to which notices to that party shall thereafter be
      given until further notice. Any notice given in accordance with this Section
      10.8, shall be deemed effective, whether or not received, when delivered if
      personally delivered, five (5) days after deposit with the U.S. postal service
      if mailed, and one (1) day after deposit with an overnight courier for next
      day
      delivery. 

    

    10.9. Counterparts.
      This
      Agreement may be executed in one or more counterparts, each of which shall
      be
      deemed an original and all of which, when taken together, shall constitute
      one
      entire instrument and agreement.

     

    10.10. Captions
      and Headings.
      The
      captions and Section headings used in the Agreement are for convenience and
      reference only, and shall not affect the construction or interpretation of
      this
      Agreement or any of the provisions hereof.

     

    [Remainder
      of page intentionally left blank.]

     

     

     

     

     

    
 

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, Founder and the Company have executed this Agreement effective
      as of the day and year first set forth above.

     

    
      	 	“Founder”
	 	 
	 	 
	 	Clint Wilson
	 	 
	 	“Company”
	 	 
	 	 
	 	IPtimize, Inc. a Colorado
              Corporation
	 	 
	 	 
	 	
              By:

            	 
	 	
              Name:

            	
               

            
	 	
              Title:

            	 
	 	 
	 	 
	 	Acknowledged:
	 	 
	 	Chris Reim,
              Secretary

    

    

    
      
        
        

      

      
        11

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