Document:

<PAGE>   1
                                                                     EXHIBIT 4.2

THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "1933 ACT"), OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT
BE SOLD OR TRANSFERRED UNLESS SUCH SALE OR TRANSFER IS IN ACCORDANCE WITH THE
REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS OR SOME OTHER
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS IS
AVAILABLE WITH RESPECT THERETO.

              AMENDED AND RESTATED PREFERRED STOCK PURCHASE WARRANT

Warrant No. WBB-18                                    Number of Shares 14,205
                                                      Series BB Preferred Stock

                           REPEATER TECHNOLOGIES, INC.

                             Void after July 31, 2004

         1. ISSUANCE. This Amended and Restated Preferred Stock Purchase Warrant
replaces that certain Preferred Stock Purchase Warrant dated August 6, 1997
issued to LIGHTHOUSE CAPITAL PARTNERS II, LP. ("Lighthouse") by REPEATER
TECHNOLOGIES, INC., a California corporation (hereinafter with its successors
called the "Company").

         2. PURCHASE PRICE; NUMBER OF SHARES. The registered holder of this
Warrant (the "Holder"), commencing on the date hereof, is entitled upon
surrender of this Warrant with the subscription form annexed hereto duly
executed, at the principal of the Company, to purchase from the Company at a
price per share of $2.64 (the "Purchase Price"), 14,205 fully paid and
nonassessable shares (the "Shares") of Series BB Preferred Stock, no par value,
of the Company (the "Preferred Stock").

Until such time as this Warrant is exercised in full or expires, the Purchase
Price and the securities issuable upon exercise of this Warrant are subject to
adjustment as hereinafter provided. The person or persons on whose name or names
any certificate representing shares of Preferred Stock is issued hereunder shall
be deemed to have become the holder of record of the shares represented thereby
as at the close of business on the date this Warrant is exercised with respect
to such shares, whether or not the transfer books of the Company shall be
closed.

         3. PAYMENT OF PURCHASE PRICE. The Purchase Price may be paid (i) in
cash or by check, (ii) by the surrender by the Holder to the Company of any
promissory notes or other obligations issued by the Company, with all such
notes and obligations so surrendered being credited against the Purchase Price
in an amount equal to the principal amount thereof plus accrued interest to the
date of surrender, or (iii) by any combination of the foregoing.

         4. NET ISSUE ELECTION. The Holder may elect to receive, without the
payment by the Holder of any additional consideration, shares of Preferred Stock
equal to the value of this Warrant or any portion hereof by the surrender of
this Warrant or such portion to the Company, with the net issue election notice
annexed hereto duly executed, at the principal office of the Company. Thereupon,
the Company shall issue to the Holder such number of fully paid and
nonassesab1e shares of Preferred Stock as is computed using the following
formula:

                                    Y(A-B)
                                X = ------
                                      A

                                       1.
<PAGE>   2
where: X =        the number of shares of Preferred Stock to be issued to the
                  Holder pursuant to this Section 4.

                  Y =      the number of shares of Preferred Stock covered by
                           this Warrant in respect of which the net issue
                           election is made pursuant to this SECTION 4.

                  A =      the Fair Market Value (defined below) of one share
                           of Preferred Stock, as determined at the time the net
                           issue election is made pursuant to this SECTION 4.

                  B =      the Purchase Price in effect under this Warrant at
                           the time the net issue election is made pursuant to
                           this SECTION 4.

"Fair Market Value" of a share of Preferred Stock (or Common Stock if the
Preferred Stock has been automatically converted into Common Stock) as of a
particular date (the "Determination Date") shall mean:

                  (i) If the net issue election is made in connection with and
         contingent upon the closing of the sale of the Company's Common Stock
         to the public in a public offering pursuant to a Registration Statement
         under the Act (a "Public Offering"), and if the Company's Registration
         Statement relating to such Public Offering ("Registration Statement")
         has been declared effective by the SEC, then the initial "Price to
         Public" specified in the final prospectus with respect to such offering
         multiplied by the number of shares of Common Stock into which each
         share of Preferred Stock is then convertible.

                  (ii) If the net issue election is not made in connection with
         and contingent upon a Public Offering, then as follows:

                           (A) If traded on a securities exchange or the NASDAQ
                  National Market, the fair market value of the Common Stock
                  shall be deemed to be the average of the closing or last
                  reported sale prices of the Common Stock on such exchange or
                  market over the 30-day period ending five business days prior
                  to the Determination Date, and the fair market value of the
                  Preferred Stock shall be deemed to be such fair market value
                  of the Common Stock multiplied by the number of shares of
                  Common Stock into which each share of Preferred Stock is then
                  convertible;

                           (B) If otherwise traded in an over-the-counter
                  market, the fair market value of the Common Stock shall be
                  deemed to be the average of the closing ask prices of the
                  Common Stock over the 30-day period ending five business days
                  prior to the Determination Date, and the fair market value of
                  the Preferred Stock shall be deemed to be such fair market
                  value of the Common Stock multiplied by the number of shares
                  of Common Stock into which each share of Preferred Stock is
                  then convertible; and

                           (C) If there is no public market for the Common
                  Stock, then fair market value shall be determined by mutual
                  agreement of the holder of this Warrant and the Company, and
                  if the holder and the Company are unable to so agree, at the
                  Company's sole expense by an investment banker of national
                  reputation selected by the Company and reasonably acceptable
                  to the holder of this Warrant.

         5. PARTIAL EXERCISE. This Warrant may be exercised in part, and the
Holder shall be entitled to receive a new warrant, which shall be dated as of
the date of this Warrant, covering the number of shares in respect of which this
Warrant shall not have been exercised.

         6. FRACTIONAL SHARE. In no event shall any fractional share of
Preferred Stock be issued upon any exercise of this Warrant. If, upon exercise
of this Warrant in its entirety, the Holder would, except as provided in this
SECTION 6, be entitled to receive a fractional share of Preferred Stock, then
the Company shall pay in lieu thereof, the Fair Market Value of such fractional
share in cash.

                                       2.
<PAGE>   3
         7. EXPIRATION DATE; AUTOMATIC EXERCISE. This Warrant shall expire at
the close of business on July 31, 2004 and shall be void thereafter.
Notwithstanding the foregoing, this Warrant shall automatically be deemed to be
exercised in full pursuant to the provisions of Section 4 hereof, without any
further action on behalf of the Holder, immediately prior to the time this
Warrant would otherwise expire pursuant to the preceding sentence.

         8. RESERVED SHARES; VALID ISSUANCE. The Company covenants that it will
at all times from and after the date hereof reserve and keep available such
number of its authorized shares of Preferred Stock and Common Stock, no par
value, of the Company (the "Common Stock"), free from all preemptive or similar
rights therein, as will be sufficient to permit, respectively, the exercise of
this Warrant in full and the conversion into shares of Common Stock of all
shares of Preferred Stock receivable upon such exercise. The Company further
covenants that such shares as may be issued pursuant to such exercise and/or
conversion will, upon issuance in accordance with the terms hereof, be duly and
validly issued, fully paid and nonassessable and free from all taxes, liens and
charges with respect to the issuance thereof.

         9. STOCK SPLITS AND DIVIDENDS. If after the date hereof the Company
shall subdivide the Preferred Stock, by split-up or otherwise, or combine the
Preferred Stock, or issue additional shares of Preferred Stock in payment of a
stock dividend on the Preferred Stock, the number of shares of Preferred Stock
issuable on the exercise of this Warrant shall forthwith be proportionately
increased in the case of a subdivision or stock dividend, or proportionately
decreased in the case of a combination, and the Purchase Price shall forthwith
be proportionately decreased in the case of a subdivision or stock dividend, or
proportionately increased in the case of a combination.

         10. REORGANIZATION, RECLASSIFICATIONS, CONSOLIDATION, MERGER OR SALE.
If any recapitalization, reclassification or reorganization of the capital stock
of the Company, or any consolidation or merger of the Company with another
corporation, or the sale of all or substantially all of its assets or other
transaction shall be effected in such a way that holders of the Preferred Stock
shall be entitled to receive stock, securities, or other assets or property (an
"Organic Change") then, as a condition of such Organic Change, lawful and
adequate provisions shall be made by the Company whereby the Holder hereof shall
thereafter have the right to purchase and receive (on the terms contained herein
and in lieu of the shares of the Preferred Stock of the Company immediately
theretofore purchasable and receivable upon the exercise of the rights
represented hereby) such shares of stock, securities or other assets or property
as may be issued or payable with respect to or in exchange for a number of
outstanding shares of such Preferred Stock equal to the number of shares of such
stock immediately theretofore purchasable and receivable upon the exercise of
the rights represented hereby, provided, however, that in the event the value of
the stock, securities or the assets or property (determined in good faith by the
Board of Directors of the Company) issuable or payable with respect to one share
of the preferred Stock of the Company immediately theretofore purchasable or
receivable upon the exercise of the rights represented hereby is in excess of an
amount equal to two times the Purchase Price hereof effective at the time of a
merger and securities received in such reorganization, if any, are publicly
traded, then this Warrant shall expire unless exercised prior to such Organic
Change. In the event of any Organic Change, appropriate provision shall be made
by the Company with respect to the provisions of this Warrant to the end that
such provisions (including, without limitation, provisions for adjustments of
the Purchase Price and the number of shares purchasable and receivable upon the
exercise of this Warrant) shall thereafter be applicable, in relation to any
shares of stock, securities or assets thereafter deliverable upon the exercise
hereof.

         11. CERTIFICATE OF ADJUSTMENT. Whenever the Purchase Price is adjusted,
as herein provided, the Company shall promptly deliver to the Holder a
certificate of the Company's chief financial officer setting forth the Purchase
Price after such adjustment and setting forth a brief statement of the facts
requiring such adjustment.

         12. NOTICES OF RECORD DATE, ETC. In the event of:

                  (a) any taking by the Company of a record of the holders of
any class of securities for the purpose of determining the holders thereof who
are entitled to receive any dividend or other distribution, or any

                                       3.
<PAGE>   4
right to subscribe for, purchase, sell or otherwise acquire or dispose of any
shares of stock of any class or any other securities or property, or to receive
any other right;

                  (b) any reclassification of the capital stock of the Company,
capital reorganization of the Company, consolidation or merger involving the
Company, or sale or conveyance of all or substantially all of its assets,
including any Organic Change; or

                  (c) any voluntary or involuntary dissolution, liquidation or
winding-up of the Company;

then in each such event the Company will provide or cause to be provided to the
Holder a written notice thereof. Such notice shall be provided at least ten (10)
business days prior to the date specified in such notice on which any such
action is to be taken.

         13. REPRESENTATIONS, WARRANTIES AND COVENANTS. This Warrant is issued
and delivered by the Company and accepted by each Holder on the basis of the
following representations, warranties and covenants made by the Company:

                  A. The Company has all necessary authority to issue, execute
and deliver this Warrant and to perform its obligations hereunder. This Warrant
has been duly authorized issued, executed and delivered by the Company and is
the valid and binding obligation of the Company, enforceable in accordance with
its terms.

                  B. The shares of Preferred Stock issuable upon the exercise of
this Warrant have been duly authorized and reserved for issuance by the Company
and, when issued in accordance with the terms hereof, will be validly issued,
fully paid and nonassessable.

                  C. The issuance, execution and delivery of this Warrant do
not, and the issuance of the shares of Preferred Stock upon the exercise of this
Warrant in accordance with the terms hereof will not, (i) violate or contravene
the Company's Articles or by-laws, or any law, statute, regulation, rule,
judgment or order applicable to the Company, (ii) violate, contravene or result
in a breach or default under any contract, agreement or instrument to which the
Company is a party or by which the Company or any of its assets are bound or
(iii) require the consent or approval of or the filing of any notice or
registration with any person or entity, except as may properly be made after the
date hereof.

                  D. Attached hereto as EXHIBIT D is a true and complete copy of
the Amended and Restated Articles of Incorporation of the Company in effect on
the date hereof.

                  E. So long as this Warrant has not terminated, Holder shall be
entitled to receive such financial and other information as the Holder would be
entitled to receive if Holder were a holder of more than 5% of any Registrable
Securities under the Fourth Amended and Restated Investor Rights Agreement,
dated September 3, 1996, as may be amended from time to time.

                  F. As of the date hereof, the authorized capital stock of the
Company consists of (i) 10,000,000 shares of Common Stock, of which 2,429,503
shares are issued and outstanding and 18,940 shares are reserved for issuance
upon the conversion of the Preferred Stock and exercise of this Warrant, (ii)
1,250,000 shares of Series AA Preferred Stock of which 1,228,409 are issued and
outstanding and (iii) 3,500,000 shares of Series BB Preferred Stock, of which
3,429,904 shares are issued and outstanding and 14,205 shares are reserved for
issuance upon the exercise of this Warrant. Attached hereto as EXHIBIT C is a
capitalization table summarizing the capitalization of the Company, including,
without limitation, the current Conversion Price of the Series BB Preferred
Stock.

         14. AMENDMENT. The terms of this Warrant may be amended, modified or
waived only with the written consent of the Holder and Company.

                                       4.
<PAGE>   5

         15. REPRESENTATIONS AND COVENANTS OF THE HOLDER. This Preferred Stock
Purchase Warrant has been entered into by the Company in reliance upon the
following representations and covenants of the Holder, which by its execution
hereof the Holder hereby confirms:

                  A. INVESTMENT PURPOSE. The right to acquire Preferred Stock or
the Preferred Stock issuable upon exercise of the Holder's rights contained
herein will be acquired for investment and not with a view to the sale or
distribution of any part thereof, and the Holder has no present intention of
selling or engaging in any public distribution of the same.

                  B. ACCREDITED INVESTOR. Holder is an "accredited investor"
within the meaning of the Securities and Exchange Rule 501 of Regulation D, as
presently in effect.

                  C. PRIVATE ISSUE. The Holder understands (i) that the
Preferred Stock issuable upon exercise of the Holder's rights contained herein
is not registered under the 1933 Act or qualified under applicable state
securities laws on the ground that the issuance contemplated by this Warrant
will be exempt from the registration and qualifications requirements thereof,
and (ii) that the Company's reliance on such exemption is predicated in part on
the representations set forth in this Section 15.

                  D. FINANCIAL RISK. The Holder has such knowledge and
experience in financial and business matters as to be capable of evaluating the
merits and risks of its investment and has the ability to bear the economic
risks of its investment.

         16. NOTICES, TRANSFERS, ETC.

                  A. Any notice or written communication required or permitted
to be given to the Holder may be given by certified mail or delivered to the
Holder at the address most recently provided by the Holder to the Company.

                  B. Subject to compliance with applicable federal and state
securities laws, this Warrant may only be transferred in its entirety by the
Holder with respect to all of the shares purchasable hereunder to any
affiliates of Lighthouse. Upon surrender of this Warrant to the Company,
together with the assignment notice annexed hereto duly executed, for transfer
of this Warrant as an entirety by the Holder, the Company shall issue a new
warrant of the same denomination to the assignee. Upon surrender of this Warrant
to the Company, together with the assignment hereof properly endorsed, by the
Holder for transfer with respect to a portion of the shares of Preferred Stock
purchasable hereunder, the Company shall issue a new warrant to the assignee, in
such denomination as shall be requested by the Holder hereof, and shall issue
to such Holder a new warrant covering the number of shares in respect of which
this Warrant shall not have been transferred.

                  C. In case this Warrant shall be mutilated, lost, stolen or
destroyed, the Company shall issue a new warrant of like tenor and denomination
and deliver the same (i) in exchange and substitution for and upon surrender
and cancellation of any mutilated Warrant, or (ii) in lieu of any Warrant lost,
stolen or destroyed, upon receipt of an affidavit of the Holder or other
evidence reasonably satisfactory to the Company of the loss, theft or
destruction of such Warrant and indemnification of the Company by the Holder
with respect thereto.

         17. NO IMPAIRMENT. The Company will not, by amendment of its Articles
or through any reclassification, capital reorganization, consolidation, merger,
sale or conveyance of assets, dissolution, liquidation, issue or sale of
securities or any other voluntary action, avoid or seek to avoid the observance
of performance of any of the terms of this Warrant, but will at all times in
good faith assist in the carrying out of all such terms and in the taking of all
such action as may be necessary or appropriate in order to protect the rights of
the Holder.

         18. GOVERNING LAW. The provisions and terms of this Warrant shall be
governed by and construed in accordance with the internal laws of the State of
California.

                                       5.
<PAGE>   6

         19. SUCCESSORS AND ASSIGNS. This Warrant shall be binding upon the
Company's successors and assigns and shall inure to the benefit of the Holder's
successors, legal representatives and permitted assigns.

         20. BUSINESS DAYS. If the last or appointed day for the taking of any
action required or the expiration of any rights granted herein shall be a
Saturday or Sunday or a legal holiday in California, then such action may be
taken or right may be exercised on the next succeeding day which is not a
Saturday or Sunday or such a legal holiday.

         21. QUALIFYING PUBLIC OFFERING. If the Company shall effect a firm
commitment underwritten public offering of shares of Common Stock which results
in the conversion of the Preferred Stock into Common Stock pursuant to the
Company's Articles in effect immediately prior to such offering, then,
effective upon such conversion, this Warrant shall change from the right to
purchase shares of Preferred Stock to the right to purchase shares of Common
Stock, and the Holder shall thereupon have the right to purchased, at a total
price equal to that payable upon the exercise of this Warrant in full, the
number of shares of Common Stock which would have been receivable by the Holder
upon the exercise of this Warrant for shares of Preferred Stock immediately
prior to such conversion of such shares of Preferred Stock into shares of Common
Stock, and in such event appropriate provisions shall be made with respect to
the rights and interest of the Holder to the end that the provisions hereof
(including, without limitation, the provisions for the adjustment of the
Purchase Price and of the number of shares purchasable upon exercise of this
Warrant and the provisions relating to the net issue election) shall thereafter
be applicable to any shares of Common Stock deliverable upon the exercise
hereof.

         22. VALUE. The Company and the Holder agree that the value of this
Warrant on the date of grant is $100.

         23. RIGHTS OF THE HOLDER. The Holder shall not, by virtue hereof, be
entitled to any rights of a shareholder in the Company, either at law or
equity, and the rights of the Holder are limited to those expressed in this
Warrant. Nothing contained in this Warrant shall be construed as conferring upon
the Holder hereof the right to vote or to consent or to receive notice as a
shareholder of the Company on any matters or with respect to any rights
whatsoever as a shareholder of the Company. No dividends or interest shall be
payable or accrued in respect of this Warrant or the interest represented hereby
or the Shares purchasable hereunder until, and only to the extent that, this
Warrant shall have been exercised in accordance with its terms.

         24. MARKET STANDOFF. The holder of this Warrant, by acceptance hereof,
agrees (but only if each Company officer, director, and shareholder owning
beneficially 5% or more of the Company's equity securities, and each shareholder
selling shares in such offering, also agrees) that such holder will not,
without the prior written consent of the lead underwriter of the initial public
offering of the Common Stock of the Company pursuant to a registration statement
filed under the Act (the "Offering"), directly or indirectly offer to sell,
contact to sell (including, without limitation, any short sale), grant any
option for the sale of, acquire any option to dispose of any Warrant Shares for
a period of 180 days following the day on which the registration statement filed
on behalf of the Company in connection with the Offering shall become effective
by order of the SEC.

         25. DESCRIPTIVE HEADINGS. The description headings of the several
sections and paragraphs of this Warrant are inserted for convenience only and do
not constitute a part of this Warrant.

                                       6.
<PAGE>   7

         26. ENTIRE AGREEMENT. This Warrant and the attachments hereto
constitute the entire agreement between the parties pertaining to the subject
matter herein and supersedes all prior and contemporaneous agreements,
representations and undertakings of the parties.

                                             REPEATER TECHNOLOGIES, INC.

[CORPORATE SEAL]
                                             By: /s/ TODD B. SCHULL
                                                 --------------------------
                                             Name: Todd B. Schull
                                                   ------------------------
                                             Title: Vice President and CFO
                                                    -----------------------

Attest:

/s/ EDWARD R. JOHNSON
-----------------------------

                                       7.
<PAGE>   8

                                   ASSIGNMENT

        For value received _______________________________ hereby sells, assigns
and transfers unto______________________________________________________________
________________________________________________________________________________
             (Please print or typewrite name and address of Assignee)
________________________________________________________________________________
the within Warrant, and does hereby irrevocably constitute and appoint _________
_________________ its attorney to transfer the within Warrant on the books of
the within named Company with full power of substitution on the premises.

Dated:
      -----------------------

                                             --------------------------------

In the Presence of:

-----------------------------

<PAGE>   9

                                    EXHIBIT A

                                SUBSCRIPTION FORM

                                                         Date:
                                                              ----------,-----
Repeater Technologies, Inc.
1150 Morse Avenue
Sunnyvale, CA 94089

Attn.: President

Ladies and Gentlemen:

         The undersigned hereby elects to exercise the Warrant issued to it by
         Repeater Technologies, Inc. and dated August 6, 1997 Warrant No. BB-18
         (the "Warrant") and to purchase thereunder ______ shares of the Series
         BB Preferred Stock of the Company (the "Shares") at a purchase price of
         Two and 64/100 Dollars ($2.64) per Share or an aggregate purchase price
         of ___________________ Dollars ($_______._______)(the "Purchase
         Price").

         The undersigned hereby elects to convert ________ percent (____%) of
         the value of the Warrant pursuant to the provisions of SECTION 4 of the
         Warrant.

         Pursuant to the terms of the Warrant, the undersigned has delivered the
Purchase Price herewith in full in cash or by certified check or wire transfer.
The undersigned also makes representations set forth on the attached EXHIBIT B
of the Warrant.

                                            Very truly yours,

                                            By:
                                               ---------------------------
                                            Name:
                                                 -------------------------
                                            Title:
                                                  ------------------------

<PAGE>   10

                                    EXHIBIT B

                            INVESTMENT REPRESENTATION

THIS AGREEMENT MUST BE COMPLETED, SIGNED AND RETURNED TO [COMPANY/ENTITY NAME]
ALONG WITH THE SUBSCRIPTION FORM BEFORE THE PREFERRED STOCK ISSUABLE UPON
EXERCISE OF THE WARRANT DATED JULY __, 1997 WILL BE ISSUED.

                                                      Date:
                                                           -----------,------

Repeater Technologies, Inc.
1150 Morse Avenue
Sunnyvale, CA 94089

Attn.: President

Ladies and Gentlemen:

         The undersigned, _______________ ("Purchaser"), intends to acquire up
to ________ shares of the Series BB Preferred Stock (the "Preferred Stock") of
Repeater Technologies, Inc. (the "Company") from the Company pursuant to the
exercise or conversion of certain Warrants to purchase Preferred Stock held by
Purchaser. The Preferred Stock will be issued to Purchaser in a transaction not
involving a public offering and pursuant to an exemption from registration under
the Securities Act of 1933, as amended (the "1933 Act") and applicable state
securities laws. In connection with such purchase and in order to comply with
the exemptions from registration relied upon by the Company, Purchaser
represents, warrants and agrees as follows:

Purchaser is acquiring the Preferred Stock for its own account, to hold for
investment, and Purchaser shall not make any sale, transfer or other disposition
of the Preferred Stock in violation of the 1933 Act or the General Rules and
Regulations promulgated thereunder by the Securities Exchange Commission (the
"SEC") or in violation of any applicable state securities law.

Purchaser has been advised that the Preferred Stock has not been registered
under the 1933 Act or state securities laws on the ground that this transaction
is exempt from registration, and that reliance by the Company on such
exemptions is predicated in part on Purchaser's representations set forth in
this letter.

Purchaser has been informed that under the 1933 Act, the Preferred Stock must be
held indefinitely unless it is subsequently registered under the 1933 Act or
unless an exemption from such registration (such as Rule 144) is available with
respect to any proposed transfer or disposition by Purchaser of the Preferred
Stock. Purchaser further agrees that the Company may refuse to permit Purchaser
to sell, transfer or dispose of the Preferred Stock (excepted as permitted under
Rule 144) unless there is in effect a registration statement under the 1933 Act
and any applicable state securities laws covering such transfer, or unless
Purchaser furnishes an opinion of counsel reasonable satisfactory to counsel for
the Company, to the effect that such registration is not required.

Purchaser also understands and agrees that there will be placed on the
certificate(s) for the Preferred Stock, or any substitutions therefor, a legend
stating in substance:

"The shares represented by this certificate have not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), or any state
securities laws. These shares have been acquired for investment and may not be
sold or otherwise transferred in the absence of an effective registration
statement for these shares under the Securities Act and applicable state
securities laws, or an opinion of counsel satisfactory to the Company that
registration is not required and that an applicable exemption is available."

<PAGE>   11
Purchaser has carefully read this letter and has discussed its requirements and
other applicable limitations upon Purchaser's resale of the Preferred Stock with
Purchaser's counsel.

                                       Very truly yours,

                                       By:
                                         ---------------------------------------
                                       Name:
                                            ------------------------------------
                                       Title:
                                             -----------------------------------<PAGE>   1
                                                                     EXHIBIT 4.3

     THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
     UNDER THE SECURITIES ACT OF 1933, AS AMENDED. NO SALE OR DISPOSITION OF
     SUCH SECURITIES MAY BE EFFECTED WITHOUT (i) AN EFFECTIVE REGISTRATION
     STATEMENT RELATING THERETO, (ii) AN OPINION OF COUNSEL FOR HOLDER,
     REASONABLY SATISFACTORY TO COMPANY, THAT SUCH REGISTRATION IS NOT
     REQUIRED, (iii) RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND
     EXCHANGE COMMISSION, OR (iv) OTHERWISE COMPLYING WITH THE PROVISIONS OF
     ARTICLE III OF THIS WARRANT.

                                    WARRANT
               TO PURCHASE SHARES OF SERIES DD PREFERRED STOCK

                             Dated January 25, 1999

     This certifies that for value received, PHOENIX LEASING INCORPORATED, or
registered assigns, is entitled as of January 25, 1999 (the "Closing Date"),
subject to the terms set forth herein, to purchase from REPEATER TECHNOLOGIES,
INC., a California corporation (the "Company"), up to Three Thousand Nine
Hundred Fifty-five (3,955) fully paid and non-assessable shares of Company's
Series DD Preferred Stock, at the price of Five Dollars and Fifty Cents ($5.50)
per share. The initial exercise price of Five Dollars and Fifty Cents ($5.50)
per share, and the number of shares purchasable hereunder, are subject to
adjustment in certain events, all as more fully set forth under Article IV
herein.

                                   ARTICLE I
                                  DEFINITIONS

     "Articles of Incorporation" means the Amended and Restated Articles of
Incorporation of Company, as filed with the California Secretary of State on
November 24, 1998.

     "Commission" means the Securities Exchange Commission, or any other
federal agency then administering the Exchange Act or the Securities Act, as
defined herein.

     "Common Stock" means Company's Common Stock, any stock into which such
stock shall have been changed or any stock resulting from any reclassification
of such stock, and any other capital stock of Company of any class or series
now or hereafter authorized having the right to share in distributions either
of earnings or assets of Company without limit as to amount or percentage.

     "Company" means REPEATER TECHNOLOGIES, INC., a California corporation, and
any successor corporation.

     "Conversion Price" means the Conversion Price for Series DD Preferred
Stock, as determined in accordance with the Articles of Incorporation.

     "Convertible Securities" means evidences of indebtedness, shares of
stock or other securities which are convertible into or exchangeable for, with
or without payment of additional consideration, shares of Common Stock, either
immediately or upon the arrival of a specified date or the happening of a
specified event or both.

                                       1
<PAGE>   2
      "Exchange Act" means the Securities Exchange Act of 1934, as amended, or
any successor federal statute, and the rules and regulations of the Commission
promulgated thereunder, all as the same shall be in effect from time to time.

      "Exercise Period" means the period commencing on the Closing Date and
terminating at the later to occur of: (i) 5:00 p.m., Pacific Time on the tenth
(10th) anniversary of the Closing Date, or (ii) 5:00 p.m., Pacific Time on the
fifth (5th) anniversary of the closing of Company's initial sale and issuance
of shares of Common Stock in an underwritten public offering, pursuant to a
Registration.

      "Exercise Price" means the price per share of Series DD Preferred Stock
set forth in the Preamble to this Warrant, as such price may be adjusted
pursuant to Article IV hereof.

      "Fair Market Value" means

            (i)   If shares of Series DD Preferred Stock or Common Stock, as
the case may be, are being sold pursuant to a Registration and Fair Market
Value is being determined as of the closing of the public offering, the "price
to public" specified for such shares in the final prospectus for such public
offering;

           (ii)   If shares of Series DD Preferred Stock or Common Stock, as
the case may be, are then listed or admitted to trading on any national
securities exchange or traded on any national market system and Fair Market
Value is not being determined as of the date described in clause (i) of this
definition, the average of the daily closing prices for the thirty (30) trading
days before such date, excluding any trades which are not bona fide, arm's
length transactions. The closing price for each day shall be the last sale
price on such date or, if no such sale takes place on such date, the average of
the closing bid and asked prices on such date, in each case as officially
reported on the principal national securities exchange or national market
system on which such shares are then listed, admitted to trading or traded;

          (iii)   If no shares of Series DD Preferred Stock or Common Stock, as
the case may be, are then listed or admitted to trading on any national
securities exchange or traded on any national market system or being offered to
the public pursuant to a Registration, the average of the reported closing bid
and asked prices thereof on such date in the over-the-counter market as shown
by the National Association of Securities Dealers automated quotation system
or, if such shares are not then quotes in such system, as published by the
National Quotation Bureau, Incorporated or any similar successor organization,
and in either case as reported by any member firm of the New York Stock Exchange
selected by Holder;

           (iv)  If no shares of Series DD Preferred Stock or Common Stock, as
the case may be, are then listed or admitted to trading on any national
exchange or traded on any national market system, if no closing bid and asked
prices thereof are then so quoted or published in the over-the-counter market
and if no such shares are being offered to the public pursuant to a
Registration, the Fair Market Value of a share of Series DD Preferred Stock or
Common Stock, as the case may be, shall be determined in good faith by Company's
Board of Directors.

      "Fiscal Year" means the fiscal year of Company.

      "Holder" means the person in whose name this Warrant is held as set forth
on the cover page.

      "Option" means any right, warrant or option to subscribe for or purchase
shares of Common Stock or Convertible Securities.

                                       2
<PAGE>   3
      "Person" means and includes natural persons, corporations, limited
partnerships, general partnerships, joint stock companies, joint ventures,
associations, companies, trusts, banks, trust companies, land trusts, business
trusts, government entities and authorities and other organizations, whether or
not legal entities.

      "Preferred Stock" means the Preferred Stock of Company, as defined in the
Articles of Incorporation.

      "Principal Executive Office" means Company's office at 1150 Morse Avenue,
Sunnyvale, CA 94089, or such other office as designated in writing to Holder by
Company.

      "Register," "Registered" and "Registration" refer to a registration
effected by preparing and filing a registration statement in compliance with
the Securities Act, and the declaration or ordering of the effectiveness of
such registration statement.

      "Rights Agreement" means the Sixth Amended and Restated Investors' Rights
Agreement, dated as of November ___, 1998, by and among Company and the
shareholders of Company named therein, attached hereto as Exhibit "D".

      "Rule 144" means Rule 144 as promulgated by the Commission under the
Securities Act, as such Rule may be amended from time to time, or any similar
successor rule that the Commission may promulgate.

      "Securities Act" means the Securities Act of 1933, as amended, or any
successor federal statute, and the rules and regulations of the Commission
promulgated thereunder, all as the same shall be in effect from time to time.

      "Series DD Preferred Stock" means the Series DD Preferred Stock of
Company, as defined in the Articles of Incorporation.

      "Shareholder" means a holder of one or more Warrant Shares or shares of
Common Stock acquired upon conversion of Warrant Shares.

      "Warrant" means the warrant dated as of Closing Date issued to Holder and
all warrants issued upon the partial exercise, transfer or division of or in
substitution for any Warrant.

      "Warrant Shares" means the shares of Series DD Preferred Stock issuable
upon the exercise of this Warrant provided that if under the terms hereof there
shall be a change such that the securities purchasable hereunder shall be
issued by an entity other than Company or there shall be a change in the type
or class of securities purchasable hereunder, then the term shall mean the
securities issuable upon the exercise of the rights granted hereunder.

                                   ARTICLE II
                                    EXERCISE

            2.1   Exercise Right; Manner of Exercise. Holder may exercise this
Warrant, in whole or in part, at any time and from time to time during the
Exercise Period upon (i) surrender of this Warrant, together with an executed
Notice of Exercise, substantially in the form of Exhibit "A" attached hereto,
at the Principal Executive Office, and (ii) payment to Company of the aggregate
Exercise Price for the number of Warrant Shares specified in the Notice of
Exercise (such aggregate Exercise Price the

                                       3
<PAGE>   4
"Total Exercise Price"). The Total Exercise Price shall be paid by check.
Certificates for the Warrant Shares so purchased shall be delivered to Holder
within a reasonable time, not exceeding fifteen (15) days after this Warrant is
exercised. The issuance of Warrant Shares upon exercise of this Warrant shall be
made without charge to Holder for any issuance tax with respect thereto or any
other cost incurred by Company in connection with the exercise of this Warrant
and the related issuance of Warrant Shares.

     2.2  Conversion Right.  In lieu of exercising this Warrant as specified in
Section 2.1, Holder may from time to time convert this Warrant, in whole or in
part, into that number of shares of Series DD Preferred Stock equal to the
product of: (a) the quotient obtained by dividing (i) the Fair Market Value of
one share of Series DD Preferred Stock at the time of such net exercise election
less the Exercise Price of one such share by (ii) the Fair Market Value of  such
share; and (b) the aggregate number of shares of Series DD Preferred Stock for
which the Warrant is exercisable to be converted pursuant to this Section 2.2.
If, as of the last day of the Exercise Period, this Warrant has not been fully
exercised, then as of such date this Warrant shall be automatically converted,
in full, in accordance with this Section 2.2, without any action or notice by
Holder if such a conversion would result in shares being issued to Holder.

     2.3  Delivery of Certificate and New Warrant.  Promptly after Holder
exercises or converts this Warrant, Company shall deliver to Holder
certificates for the Shares acquired and, if this Warrant has not been fully
exercised or converted and has not expired, a new Warrant representing the
Shares not so acquired.

     2.4  Fractional Shares.  Company shall not issue fractional shares of
Series DD Preferred Stock or Common Stock or scrip representing fractional
shares of Series DD Preferred Stock or Common Stock upon any exercise or
conversion of this Warrant. As to any fractional share of Series DD Preferred
Stock or Common Stock which Holder would otherwise be entitled to purchase from
Company upon such exercise or conversion, Company shall purchase from Holder
such fractional share at a price equal to an amount calculated by multiplying
such fractional share (calculated to the nearest 1/100th of a share) by the fair
market value of a share of Series DD Preferred Stock or Common Stock, as
applicable, on the date of the Notice of Exercise of the Conversion Date, as
applicable, as determined in good faith by Company's Board of Directors. Payment
of such amount shall be made in cash or by check payable to the order of Holder
at the time of delivery of any certificate or certificates arising upon such
exercise or conversion.

                                  ARTICLE III
                REGISTRATION, TRANSFER, EXCHANGE AND REPLACEMENT

     3.1  Restrictions on Transfers.

          (a)  Compliance with Securities Act. Holder, by acceptance hereof,
agrees that this Warrant, the Series DD Preferred Stock to be issued upon
exercise hereof and the shares of Common Stock to be issued upon conversion of
such shares of Series DD Preferred Stock are being acquired for investment,
solely for Holder's own account and not as a nominee for any other Person, and
that Holder will not offer, sell or otherwise dispose of this Warrant, any such
shares of Series DD Preferred Stock or any such shares of Common Stock except
under circumstances which will not result in a violation of the Securities Act.
Upon exercise of this Warrant, Holder shall confirm in writing, by executing the
form attached as Exhibit "B" hereto, that the shares of Series DD Preferred
Stock or Common Stock purchased thereby are being acquired for investment,
solely for Holder's own account and not as a nominee for any other Person, and
not with a view toward distribution or resale.

                                       4
<PAGE>   5
          (b) Certificate Legends. This Warrant, all shares of Series DD
Preferred Stock issued upon exercise of this Warrant (unless Registered under
the Securities Act), and all shares of Common Stock issued upon conversion of
such shares of Series DD Preferred Stock (unless Registered under the
Securities Act) shall be stamped or imprinted with a legend in substantially
the following form (in addition to any legends required by applicable state
securities laws):

     THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
     THE SECURITIES ACT OF 1933, AS AMENDED. NO SALE OR DISPOSITION OF SUCH
     SECURITIES MAY BE EFFECTED WITHOUT (i) AN EFFECTIVE REGISTRATION STATEMENT
     RELATING THERETO, (ii) AN OPINION OF COUNSEL FOR HOLDER, REASONABLY
     SATISFACTORY TO COMPANY, THAT SUCH REGISTRATION IS NOT REQUIRED, (iii)
     RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION,
     OR (iv) OTHERWISE COMPLYING WITH THE PROVISIONS OF ARTICLE III OF THE
     WARRANT UNDER WHICH THIS SECURITY WAS ISSUED.

          (c) Disposition of Warrant or Shares. With respect to any offer, sale
or other disposition of this Warrant, any shares of Series DD Preferred Stock
issued upon exercise of this Warrant or shares of Common Stock acquired pursuant
to conversion of such shares of Series DD Preferred Stock prior to Registration
of such shares, Holder or the Shareholder, as the case may be, agrees to give
written notice to Company prior thereto, describing briefly the manner thereof,
together with a written opinion of Holder's or Shareholder's counsel, if
reasonably requested by Company, to the effect that such offer, sale or other
disposition may be effected without Registration under the Securities Act or
qualification under any applicable state securities laws of this Warrant or
such shares, as the case may be, and indicating whether or not under the
Securities Act certificates for this Warrant or such shares, as the case may
be, to be sold or otherwise disposed of require any restrictive legend as to
applicable restrictions on transferability in order to insure compliance with
the Securities Act. Promptly upon receiving such written notice and reasonably
satisfactory opinion, if so requested, Company, as promptly as practicable,
shall notify Holder or the Shareholder, as the case may be, that it may sell or
otherwise dispose of this Warrant or such shares, as the case may be, all in
accordance with the terms of the notice delivered to Company. If a determination
has been made pursuant to this subsection (c) that the opinion of counsel for
Holder or the Shareholder, as the case may be, is not reasonably satisfactory
to Company, Company shall so notify Holder or the Shareholder, as the case may
be, promptly after such determination has been made and shall specify the legal
analysis supporting any such conclusion. Notwithstanding the foregoing, this
Warrant or such shares, as the case may be, may be offered, sold or otherwise
disposed of in accordance with Rule 144, provided that Company shall have been
furnished with such information as Company may reasonably request to provide
reasonable assurance that the provisions of Rule 144 have been satisfied. Each
certificate representing this Warrant or the shares thus transferred (except a
transfer pursuant to Rule 144) shall bear a legend as to the applicable
restrictions on transferability in order to insure compliance with the
Securities Act, unless in the aforesaid reasonably satisfactory opinion of
counsel for Holder or the Shareholder, as the case may be, such legend is not
necessary in order to insure compliance with the Securities Act. Company may
issue stop transfer instructions to its transfer agent in connection with such
restrictions.

          (d) Warrant Transfer Procedure. Transfer of this Warrant to a third
party, following compliance with the preceding subsections of this Section 3.1,
shall be effected by execution of the Assignment Form attached hereto as
Exhibit "C", and surrender for registration of transfer of this Warrant at the
Principal Executive Office, together with funds sufficient to pay any
applicable transfer tax. Upon receipt of the duly executed Assignment Form and
the necessary transfer tax funds, if any, Company, at its expense, shall
execute and deliver, in the name of the designated transferee or

                                       5

<PAGE>   6
transferees, one or more new Warrants representing the right to purchase a like
aggregate number of shares of Series DD Preferred Stock.

          (e)  Termination of Restrictions. The restrictions imposed under this
Section 3.1 upon the transferability of the Warrant, the shares of Series DD
Preferred Stock acquired upon the exercise of this Warrant and the shares of
Common Stock issuable upon conversion of such shares of Series DD Preferred
Stock shall cease when (i) a registration statement covering all shares of
Common Stock issued or issuable upon conversion of the Series DD Preferred Stock
becomes effective under the Securities Act, (ii) Company is presented with an
opinion of counsel reasonably satisfactory to Company that such restrictions are
no longer required in order to insure compliance with the Securities Act or with
a Commission "no-action" letter stating that future transfers of such securities
by the transferor or the contemplated transferee would be exempt from
registration under the Securities Act, or (iii) such securities may be
transferred in accordance with Rule 144(k). When such restrictions terminate,
Company shall, or shall instruct its transfer agent to, promptly, and without
expense to Holder or the Shareholder, as the case maybe, issue new securities in
the name of Holder and/or the Shareholder, as the case may be, not bearing the
legends required under subsection (b) of this Section 3.1. In addition, new
securities shall be issued without such legends if such legends may be properly
removed under the terms of Rule 144(k).

     3.2  Exchange. At Holder's option, this Warrant may be exchanged for other
Warrants representing the right to purchase a like aggregate number of shares of
Series DD Preferred Stock upon surrender of this Warrant at the Principal
Executive Office. Whenever this Warrant is so surrendered to Company at the
Principal Executive Office for exchange, Company shall execute and deliver the
Warrants which Holder is entitled to receive. All Warrants issued upon any
registration of transfer or exchange of Warrants shall be the valid obligations
of Company, evidencing the same rights, and entitled to the same benefits, as
the Warrants surrendered upon such registration of transfer or exchange. No
service charge shall be made for any exchange of this Warrant.

     3.3  Replacement. Upon receipt of evidence reasonably satisfactory to
Company of the loss, theft, destruction or mutilation of this Warrant and (i) in
the case of any such loss, theft or destruction, upon delivery of indemnity
reasonably satisfactory to Company in form and amount, or (ii) in the case of
any such mutilation, upon surrender of such Warrant for cancellation at the
Principal Executive Office, Company, at its expense, shall execute and deliver,
in lieu thereof, a new Warrant.

                                   ARTICLE IV
                            ANTIDILUTION PROVISIONS

     4.1  Conversion of Series DD Preferred Stock. If all of the Series DD
Preferred Stock is converted into shares of Common Stock in connection with a
Registration, then this Warrant shall automatically become exercisable for that
number of shares of Common Stock equal to the number of shares of Common Stock
that would have been received if this Warrant had been exercised in full and the
shares of Series DD Preferred Stock received thereupon had been simultaneously
converted into shares of Common Stock immediately prior to such event, and the
Exercise Price shall be automatically adjusted to equal the amount obtained by
dividing (i) the aggregate Exercise Price of the shares of Series DD Preferred
Stock for which this Warrant was exercisable immediately prior to such
conversion, by (ii) the number of shares of Common Stock for which this Warrant
is exercisable immediately after such conversion.

     4.2  Reorganization, Reclassification or Recapitalization of Company. In
case of (1) a capital reorganization, reclassification or recapitalization of
Company's capital stock (other than in the cases referred to in Section 4.4
hereof), (2) Company's consolidation or merger with or into another

                                       6
<PAGE>   7
corporation in which Company is not the surviving entity, or a reverse
triangular merger in which Company is the surviving entity but the shares of
Company's capital stock outstanding immediately prior to the merger are
converted, by virtue of the merger, into other property, whether in the form of
securities, cash or otherwise, or (3) the sale of transfer of Company's property
as an entirety or substantially as an entirety, then, as part of such
reorganization, reclassification, recapitalization, merger, consolidation, sale
or transfer, lawful provision shall be made so that there shall thereafter be
deliverable upon the exercise of this Warrant or any portion thereof (in lieu of
or in addition to the number of shares of Series DD Preferred Stock theretofore
deliverable, as appropriate), and without payment of any additional
consideration, the number of shares of stock or other securities or property to
which the holder of the number of shares of Series DD Preferred Stock which
would otherwise have been deliverable upon the exercise of this Warrant or any
portion thereof at the time of such reorganization, reclassification,
recapitalization, consolidation, merger, sale or transfer would have been
entitled to receive in such reorganization, reclassification, recapitalization,
merger, consolidation, sale or transfer.

This Section 4.2 shall apply to successive reorganizations, reclassifications,
recapitalizations, consolidations, mergers, sales and transfers and to the
stock or securities of any other corporation that are at the time receivable
upon the exercise of this Warrant. If the per-share consideration payable to
Holder for shares of Series DD Preferred Stock in connection with any
transaction described in this Section 4.2 is in a form other than cash or
marketable securities, then the value of such consideration shall be determined
in good faith by Company's Board of Directors.

      4.3   Splits and Combinations. If Company at any time subdivides any of
its outstanding shares of Series DD Preferred Stock into a greater number of
shares, the Exercise Price in effect immediately prior to such subdivision
shall be proportionately reduced, and, conversely, if the outstanding shares of
Series DD Preferred Stock are combined into a smaller number of shares, the
Exercise Price in effect immediately prior to such combination shall be
proportionately increased. Upon any adjustment of the Exercise Price under this
Section 4.3, the number of shares of Series DD Preferred Stock issuable upon
exercise of this Warrant shall equal the number of shares determined by
dividing (i) the aggregate Exercise Price payable for the purchase of all
shares issuable upon exercise of this Warrant immediately prior to such
adjustment by (ii) the Exercise Price per share in effect immediately after
such adjustment.

      4.4   Reclassifications. If Company changes any of the securities as to
which purchase rights under this Warrant exist into the same or a different
number of securities of any other class or classes, this Warrant shall
thereafter represent the right to acquire such number and kind of securities as
would have been issuable as the result of such change with respect to the
securities that were subject to the purchase rights under this Warrant
immediately prior to such reclassification or other change and the Exercise
Price therefor shall be appropriately adjusted. No adjustment shall be made
pursuant to this Section 4.4 upon any conversion described in Section 4.1
hereof.

      4.5   Dividends and Distributions. If Company declares a dividend or
other distribution on the Series DD Preferred Stock or if a dividend or other
distribution on the Series DD Preferred Stock occurs pursuant to the Articles of
Incorporation (other than a cash dividend or distribution), then, as part of
such dividend or distribution, lawful provision shall be made so that there
shall thereafter be deliverable upon the exercise of this Warrant or any
portion thereof, in addition to the number of shares of Series DD Preferred
Stock receivable thereupon and without payment of any additional consideration,
the amount of the dividend or other distribution to which the holder of the
number of shares of Series DD Preferred Stock obtained upon exercise hereof
would have been entitled to receive had the exercise occurred as of the record
date for such dividend or distribution.

                                       7
<PAGE>   8
     4.6. Liquidation; Dissolution.  If Company shall dissolve, liquidate or
wind up its affairs, Holder shall have the right, but not the obligation, to
exercise this Warrant effective as of the date of such dissolution, liquidation
or winding up. If any such dissolution, liquidation or winding up results in any
cash distribution to Holder in excess of the aggregate Exercise Price for the
shares of Series DD Preferred Stock for which this Warrant is exercised, then
Holder may, at its option, exercise this Warrant without making payment of such
aggregate Exercise Price and, in such case, Company shall, upon distribution to
Holder, consider such aggregate Exercise Price to have been paid in full, and in
making such settlement to Holder, shall deduct an amount equal to such aggregate
Exercise Price from the amount payable to Holder.

     4.7. Other Dilutive Events.  If any event occurs as to which the other
provisions of this Article IV are not strictly applicable but the failure to
make any adjustment would not fairly protect the purchase rights represented by
this Warrant in accordance with the essential intent and principles hereof,
then, in each such case, Company shall appoint a firm of independent public
accountants of recognized national standing (which may be Company's regular
auditors) which shall give their opinion upon the adjustment, if any, on a basis
consistent with the essential intent and principles established in this Article
IV, necessary to preserve, without dilution, the purchase rights represented by
this Warrant. Upon receipt of such opinion, Company shall promptly mail a copy
thereof to Holder and shall make the adjustments described therein.

     4.8. Certificates and Notices.

          (a)  Adjustment Certificates. Upon any adjustment of the Exercise
Price and/or the number of shares of Series DD Preferred Stock purchasable
upon exercise of this Warrant, a certificate, signed by (i) Company's President
and Chief Financial Officer, or (ii) any independent firm of certified public
accountants of recognized national standing Company selects at its own expense,
setting forth in reasonable detail the events requiring the adjustment and the
method by which such adjustment was calculated, shall be mailed to Holder and
shall specify the adjusted Exercise Price and the number of shares of Series DD
Preferred Stock purchasable upon exercise of the Warrant after giving effect to
the adjustment.

          (b)  Extraordinary Corporate Events. If Company, after the date
hereof, proposes to effect (i) any transaction described in Sections 4.2 or 4.4
hereof, (ii) a liquidation, dissolution or winding up of Company described in
Section 4.6 hereof, or (iii) any payment of a dividend or distribution with
respect to Series DD Preferred Stock or Common Stock, then, in each such case,
Company shall mail to Holder a notice describing such proposed action and
specifying the date on which Company's books shall close, or a record shall be
taken, for determining the holders of Series DD Preferred Stock or Common Stock,
as appropriate, entitled to participate in such action, or the date on which
such reorganization, reclassification, consolidation, merger, sale, transfer,
liquidation, dissolution or winding up shall take place or commence, as the case
may be, and the date as of which it is expected that holders of Series DD
Preferred Stock and Common Stock of record shall be entitled to receive
securities and/or other property deliverable upon such action, if any such date
is to be fixed. Such notice shall be mailed to Holder at least (30) days prior
to the record date for such action in the case of any action described in clause
(i) or clause (iii) above, and in the case of any action described in clause
(ii) above, at least thirty (30) days prior to the date on which the action
described is to take place and at least thirty (30) days prior to the record
date for determining holders of Series DD Preferred Stock or Common Stock, as
appropriate, entitled to receive securities and/or other property in connection
with such action.

     4.9. No Impairment.  Company shall not, by amendment of the Articles of
Incorporation or through any reorganization, recapitalization, transfer of
assets, consolidation, merger, dissolution, issue or sale of securities or any
other voluntary action, avoid or seek to avoid the observance

                                       8

<PAGE>   9
or performance of any of the terms to be observed or performed hereunder by
Company, but shall at all times in good faith assist in the carrying out of all
the provisions of this Article IV and in the taking of all such action as may be
necessary or appropriate in order to protect the rights of Holder against
impairment.

     4.10 Application. Except as otherwise provided herein, all sections of this
Article IV are intended to operate independently of one another. If an event
occurs that requires the application of more than one section, all applicable
sections shall be given independent effect.

                                   ARTICLE V.
                                    RESERVED

                                  ARTICLE VI.
                                   COVENANTS

     6.1  Financial Information. Company shall deliver to Holder, concurrent
with delivery to any of the Investors, as defined in the Rights Agreement, all
information delivered to any of the Investors pursuant to Section 4.1 of Article
IV of the Rights Agreement and all other information delivered to any of the
Investors from time to time pursuant to the Rights Agreement as in effect from
time to time during the term hereof. If the Rights Agreement is terminated for
any reason, and for so long as Company is not subject to the periodic reporting
requirements of Sections 12(g) or 15(d) of the Exchange Act, Company shall
deliver to Holder all information that was required to be delivered to any of
the Investors, as defined in the Rights Agreement, pursuant to the Section 4.1
of Article IV of the Rights Agreement, as in effect on the date hereof.

     6.2  Non-Financial Covenants. Company covenants that:

          (a)  Authorized Shares. Company will at all times have authorized, and
reserved for the purpose of issue or transfer upon exercise of the rights
evidenced by this Warrant, a sufficient number of shares of Series DD Preferred
Stock to provide for the exercise of the rights represented by this Warrant (for
purposes of determining compliance with this covenant, the shares of Series DD
Preferred Stock issuable upon exercise of all other options and warrants shall
be deemed issued and outstanding), and a sufficient number of shares of Common
Stock to provide for the conversion into Common Stock of all the shares of
Series DD Preferred Stock issued and issuable upon the exercise of this Warrant
but theretofore unconverted (for purposes of determining compliance with this
covenant, the shares of Common Stock issuable upon exercise of all options and
warrants to acquire Common Stock and upon conversion of all instruments
convertible into Common Stock shall be deemed issued and outstanding);

          (b)  Proper Issuance. Company, at its expense, will take all such
action as may be necessary to assure that the Series DD Preferred Stock issuable
upon the exercise of this Warrant, and the Common Stock issuable upon the
conversion of such Series DD Preferred Stock, may be so issued without violation
of any applicable law or regulation, or of any requirements of any domestic
securities exchange upon which any capital stock of Company may be listed. Such
action may include, but not be limited to, causing such shares to be duly
registered or approved or listed on relevant domestic securities exchanges; and

          (c)  Fully Paid Shares. Company will take all actions necessary or
appropriate to validly and legally issue (i) fully paid and non-assessable
shares of Series DD Preferred Stock upon exercise of this Warrant and (ii) fully
paid and non-assessable shares of Common Stock upon

                                       9
<PAGE>   10
conversion of such shares of Series DD Preferred Stock. All such shares will be
free from all taxes, liens and charges with respect to the issuance thereof,
other than any stock transfer taxes in respect to any transfer occurring
contemporaneously with such issuance.

                                  ARTICLE VII
                                 MISCELLANEOUS

       7.1    Certain Expenses. Company shall pay all expenses in connection
with, and all taxes (other than stock transfer taxes or capital gains taxes or
taxes related to the appreciation in value of the Warrant) and other
governmental charges that may be imposed in respect of, the issuance, sale and
delivery of the Warrant, the Warrant Shares and the shares of Common Stock
issuable upon conversion of the Warrant Shares.

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

       7.3    Enforcement Costs. If any part to, or beneficiary of, this
Warrant seeks to enforce its rights hereunder by legal proceedings or
otherwise, then the non-prevailing party shall pay all reasonable costs and
expenses incurred by the prevailing party, including, without limitation, all
reasonable attorneys' fees (including the allocable costs of in-house counsel).

       7.4    Notices. Any notice, demand or delivery to be made pursuant to
this Warrant will be sufficiently given or made if sent by first class mail,
postage prepaid, addressed to (a) Holder and the Shareholders at their last
known addresses appearing on the books of Company maintained for such purpose or
(b) Company at its Principal Executive Office. Holder, the Shareholders and
Company may each designate a different address by notice to the other pursuant
to this section. A notice shall be deemed effective upon the earlier of (i)
receipt or (ii) the third day after mailing in accordance with the terms of
this Section 7.4.

       7.5    Successors and Assigns. This Warrant shall be binding upon
Company and any Person succeeding Company by merger, consolidation or
acquisition of all or substantially all of Company's assets, and all of the
obligations of Company with respect to the shares of Series DD Preferred Stock
issuable upon exercise of this Warrant and the shares of Common Stock issuable
upon the conversion of such shares of Series DD Preferred Stock, shall survive
the exercise, expiration or termination of this Warrant and all of the
covenants and agreements of Company shall inure to the benefit of Holder, each
Shareholder and their respective successors and assigns.

       7.6    Modification; Severability. If, in any action before any court or
agency legally empowered to enforce any term, any term is found to be
unenforceable, then such term shall be deemed modified to the extent necessary
to make it enforceable by such court or agency. If any term is not curable as
set forth in this section, the unenforceability of such term shall not affect
the other provisions of this Warrant but this Warrant shall be construed as if
such unenforceable term had ever been contained herein.

       7.7    Amendment. This Warrant may not be modified or amended except by
written agreement of Company and Holder.

                                       10

<PAGE>   11
          7.8. Headings. The headings of the Articles and Sections of this
Warrant are for the convenience of reference only and shall not, for any
purpose, be deemed a part of this Warrant.

          7.9. Governing Law. This Warrant shall be governed by, and construed
in accordance with, the California law, without giving effect to conflicts of
law principles.

     IN WITNESS WHEREOF, Company has caused this Warrant to be executed by its
duly authorized officer as of January 25, 1999.

                                        REPEATER TECHNOLOGIES, INC.

                                        By: /s/ TODD SCHULL
                                           --------------------------------

                                        Name: Todd Schull
                                             ------------------------------

                                        Title: V.P. and CFO
                                              -----------------------------

                                       11

<PAGE>   12
                                  EXHIBIT "A"

                            NOTICE OF EXERCISE FORM

                   (To be executed only upon partial or full
                        exercise of the within Warrant)

     The undersigned registered Holder of the within Warrant hereby irrevocably
exercises the within Warrant for and purchases shares of Series DD Preferred
Stock of REPEATER TECHNOLOGIES, INC. and herewith makes payment therefor in the
amount of $________, all at the price and on the terms and conditions specified
in the within Warrant and requests that a certificate (or ______ certificates in
denominations of shares) for the shares of Series DD Preferred Stock of REPEATER
TECHNOLOGIES, INC. hereby purchased be issued in the name of and delivered to
(choose one) (a) the undersigned, or (b) *[NAME], whose address is
______________ and, if such shares of Series DD Preferred Stock shall not
include all the shares of Series DD Preferred Stock issuable as provided in the
within Warrant, that a new Warrant of like tenor for the number of shares of
Series DD Preferred Stock of REPEATER TECHNOLOGIES, INC. not being purchased
hereunder be issued in the name of and delivered to (choose one) (a) the
undersigned, or (b) *[NAME], whose address is _____________________________.

Dated: _________________, 199_

Signature Guaranteed

                                         ------------------------------------

                                         ------------------------------------

                                         ------------------------------------

                                         By:
                                             --------------------------------
                                             (Signature of Registered Holder)

                                         Title:
                                               ------------------------------

NOTICE:   The signature to this Notice of Exercise must correspond with the name
          as written upon the face of the within Warrant in every particular,
          without alteration or enlargement or any change whatever.

          The signature to this Notice of Exercise must be guaranteed by a
          commercial bank or trust company in the United States or a member firm
          of the New York Stock Exchange.

<PAGE>   13
                                  EXHIBIT "B"

                     INVESTMENT REPRESENTATION CERTIFICATE

Purchaser:

Company:       REPEATER TECHNOLOGIES, INC.

Security:      Series DD Preferred Stock

Amount:

Date:

In connection with the purchase of the above-listed securities (the
"Securities"), the undersigned (the "Purchaser") represents to Company as
follows:

The Purchaser is aware of Company's business affairs and financial condition,
and has acquired sufficient information about Company to reach an informed and
knowledgeable decision to acquire the Securities. The Purchaser is purchasing
the Securities for its own account for investment purposes only and not with a
view to, or for the resale in connection with, any "distribution" thereof for
purposes of the Securities Act of 1933, as amended (the "Securities Act");

The Purchaser understands that the Securities have not been registered under the
Securities Act in reliance upon a specific exemption therefor, which exemption
depends upon, among other things, the bona fide nature of the Purchaser's
investment intent as expressed herein. In this connection, the Purchaser
understands that, in the view of the Securities and Exchange Commission ("SEC"),
the statutory basis for such exemption may be unavailable if the Purchaser's
representation was predicated solely upon a present intention to hold these
Securities for the minimum capital gains period specified under tax statutes,
for a deferred sale, for or until an increase or decrease in the market price of
the Securities, or for a period of one year or any other fixed period in the
future;

The Purchaser further understands that the Securities must be held indefinitely
unless subsequently registered under the Securities Act or unless an exemption
from registration is otherwise available. Moreover, the Purchaser understands
that Company is under no obligation to register the Securities. In addition, the
Purchaser understands that the certificate evidencing the Securities will be
imprinted with the legend referred to in the Warrant under which the Securities
are being purchased;

The Purchaser is aware of the provisions of Rule 144, promulgated under the
Securities Act, which, in substance, permit limited public resale of "restricted
securities" acquired, directly or indirectly, from the issuer thereof (or from
an affiliate of such issuer), in a non-public offering subject to the
satisfaction of certain conditions, if applicable, including, among other
things: (i) the availability of certain public information about Company; (ii)
the resale occurring not less than one (1) year after the party has purchased
and paid for the securities to be sold; (iii) the sale being made through a
broker in an unsolicited "broker's transaction" or in transactions directly with
a market maker (as said term is defined under the Securities Exchange Act of
1934) and the amount of securities being sold during any three-month period not
exceeding the specified limitations stated therein;

The Purchaser further understands that at the time it wishes to sell the
Securities there may be no public market upon which to make such a sale, and
that, even if such a public market upon which to make such a
<PAGE>   14
sale then exists, Company may not be satisfying the current public information
requirements of Rule 144, and that, in such event, the Purchaser may be
precluded from selling the securities under Rule 144 even if the one (1) year
minimum holding period has been satisfied; and

The Purchaser further understands that in the event all of the requirements of
Rule 144 are not satisfied, registration under the Securities Act, compliance
with Regulation A, or some other registration exemption will be required; and
that, notwithstanding the fact that Rule 144 is not exclusive, the staff of the
SEC has expressed its opinion that persons proposing to sell private placement
securities other than in a registered offering and otherwise than pursuant to
Rule 144 will have a substantial burden of proof in establishing that an
exemption from registration is available for such offers or sales, and that such
persons and their respective brokers who participate in such transactions do so
at their own risk.

Date: _______________, 199__

                                          PURCHASER:

                                          _______________________________
<PAGE>   15
                                  EXHIBIT "C"

                                ASSIGNMENT FORM

                  (To be executed only upon the assignment of
                              the within Warrant)

      FOR VALUE RECEIVED, the undersigned registered Holder of the within
Warrant hereby sells, assigns and transfers unto ____________________, whose
address is ___________________________ all of the rights of the undersigned
under the within Warrant, with respect to shares of Series DD Preferred Stock of
REPEATER TECHNOLOGIES, INC. and, if such shares of Series DD Preferred Stock
shall not include all the shares of Series DD Preferred Stock issuable as
provided in the within Warrant, that a new Warrant of like tenor for the number
of shares of Series DD Preferred Stock of REPEATER TECHNOLOGIES, INC. not being
transferred hereunder be issued in the name of and delivered to the undersigned,
and does hereby irrevocably constitute and appoint __________________________
attorney to register such transfer on the books of REPEATER TECHNOLOGIES, INC.
maintained for the purpose, with full power of substitution in the premises.

Dated: _______________, 199___

Signature Guaranteed                      ___________________________________

                                          ___________________________________

                                          By:________________________________
                                             (Signature of Registered Holder)

                                          Title:_____________________________

NOTICE:     The signature to this Assignment must correspond with the name upon
            the face of the within Warrant in every particular, without
            alteration or enlargement or any change whatever.

 The signature to this Notice of Assignment must be guaranteed by a commercial
  bank or trust company in the United States or a member firm of the New York
                                Stock Exchange.

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