Document:

Non-Qualified Stock Option Agreement

 Exhibit 10.3 
  
 Non-Qualified Stock Option Agreement 
  
 AirNet Communications Corporation, a Delaware corporation (the “Company”), hereby grants this 13th day of August, 2003 to Glenn Ehley (“Employee”), an option to purchase a
maximum of Ten Million Eight Hundred Eighty Three Thousand One Hundred Six (10,883,106) Common Shares, at the price of $0.01 per share (“Option Price”), on the following terms and conditions: 
  
 1. Grant Under 1999 Equity Incentive Plan. This option is granted pursuant to and is
governed by the Company’s 1999 Equity Incentive Plan (the “Plan”), as amended, and, unless the context otherwise requires, terms used herein shall have the same meaning as in the Plan. Determinations made in connection with this
option pursuant to the Plan shall be governed by the Plan as it exists on this date. 
  
 2. Grant as Non-Qualified Stock Option; Other Options. This option is a non-statutory stock option and is not intended to qualify as an Incentive Stock Option under Section 422A of the Internal Revenue Code of 1986 (the
“Code”). This option is in addition to any other options heretofore or hereafter granted to the Employee by the Company, but a duplicate original of this instrument shall not effect the grant of another option. 
  
 3. Extent of Option if Employment Continues. Unless the vesting of the option
accelerates as provided below in this Article 3, if the Employee has continued to be employed by the Company on the following dates, the Employee may exercise this option for the number of shares set opposite the applicable date: 
  

	Less than one year from the date hereof	  	–	  	 	  	0 shares
				
	 One year, but less than two years from the date hereof
	  	–	  	 	  	5,441,553 shares
				
	 Two years from the date hereof
	  	–	  	 	  	 an additional
 5,441,553 shares

  
 In accordance with the terms of the
Amended and Restated Employment, Severance and Bonus Agreement dated August 13, 2003 between Employee and the Company (the “Employment Agreement”), upon a “Termination Event” or a “Sale of the Company Termination Event”
(as such terms are defined in the Employment Agreement), all of the unvested option will accelerate and be vested upon either of such events, and Employee will be entitled to purchase any and all of the 10,883,106 shares remaining unexercised under
this option. 
  
 The foregoing rights are cumulative and, while the Employee
continues to be employed by the Company, may be exercised up to and including the date which is ten (10) years from the date this option is granted. All of the foregoing rights are subject to Articles 4 and 5, as appropriate, if the Employee ceases
to be employed by the Company or dies or suffers a Total Disability while in the employ of the Company. 

 4. Termination of Employment. If the Employee ceases to be employed by the Company, other than by reason of death
or Total Disability as defined in Article 5, no further installments of this option shall become exercisable and this option shall terminate after the passage of ninety (90) days from the date employment ceases, but in no event later than the
scheduled expiration date. In such a case, the Employee’s only rights hereunder shall be those which are properly exercised before the termination of this option. 
  
 5. Death; Disability. If the Employee dies while in the employ of the Company, this option may be exercised, to the extent of the
number of shares with respect to which the Employee could have exercised it on the date of his death, by his estate, personal representative or beneficiary to whom this option has been assigned pursuant to Article 10, at any time within one year
after the date of death, but not later than the scheduled expiration date. If the Employee suffers a Total Disability (as defined in the Plan), this option may be exercised, to the extent of the number of shares with respect to which he could have
exercised it on the date of the Employee’s Total Disability, at any time within one year after the date of the Employee’s Total Disability, but not later than the scheduled expiration date. At the expiration date of such one year period or
the scheduled expiration date, whichever is the earlier, this option shall terminate and the only rights hereunder shall be those as to which the option was properly exercised before such termination. 
  
 6. Partial Exercise. Exercise of this option up to the extent above stated may be made
in part at any time and from time to time within the above limits. 
  
 7.
Payment of Option Price. Payment of the purchase price for options exercised by the Employee shall be made: (i) in United States dollars in cash or by check, (ii) with the consent of the Company, through delivery of shares of Common Stock
having a fair market value as of the date of the exercise equal to the cash exercise price of the options, (iii) any other form of payment acceptable to the Company, or (iv) any combination of subparagraphs 7(i), 7(ii) and 7(iii). 
  
 8. Agreement to Purchase for Investment. By acceptance of this option, the Employee
agrees that a purchase of shares under this option will not be made with a view to their distribution, as that term is used in the Securities Act of 1933, as amended, unless in the opinion of counsel to the Company such distribution is in compliance
with or exempt from the registration and prospectus requirements of that Act, and the Employee agrees to sign a certificate to such effect at the time of exercising this option and agrees that the certificate for the shares so purchased may be
inscribed with a legend to ensure compliance with the Securities Act of 1933. 
  
 9. Method of Exercising Option. Subject to the terms and conditions of this Agreement, this option may be exercised by prior written notice to the Company, at the principal executive office of the Company, or to such transfer agent
as the Company shall designate. Such notice shall state the election to exercise this option and the number of shares in respect of which it is being exercised and shall be signed by the person or persons so exercising this option. Such notice shall
be accompanied by payment of the full purchase price of such shares, and the Company shall deliver a certificate or certificates representing such shares as soon as practicable after the 
  

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 notice shall be received. The certificate or certificates for the shares as to which this option shall have been so
exercised shall be registered in the name of the person or persons so exercising this option (or, if this option shall be exercised by the Employee and if the Employee shall so request in the notice exercising this option, shall be registered in the
name of the Employee and another person jointly, with right of survivorship) and shall be delivered as provided above to or upon the written order of the person or persons exercising this option. In the event this option shall be exercised, pursuant
to Article 5 hereof, by any person or persons other than the Employee, such notice shall be accompanied by appropriate proof of the right of such person or persons to exercise this option. All shares that shall be purchased upon the exercise of this
option as provided herein shall be fully paid and non-assessable. 
  
 10.
Option Not Transferable. This option is not transferable or assignable except by will or by the laws of descent and distribution. During the Employee’s lifetime only the Employee can exercise this option. 
  
 11. No Obligation to Exercise Option. The grant and acceptance of this option imposes
no obligation on the Employee to exercise it. 
  
 12. No Rights as Stockholder
until Exercise. The Employee shall have no rights as a stockholder with respect to shares subject to this Agreement until a stock certificate therefor has been issued to the Employee and is fully paid for. Except as is expressly provided in the
Plan with respect to certain changes in the capitalization of the Company, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued. 
  
 13. Withholding Taxes. The Employee hereby agrees that the Company may withhold from
the Employee’s wages the appropriate amount of federal, state and local withholding taxes attributable to the Employee’s exercise of this Non-Qualified Stock Option. At the Company’s discretion, the amount required to be withheld may
be withheld in cash from such wages, or (with respect to compensation income attributable to the exercise of this option) in kind from the Common Shares otherwise deliverable to the optionee on exercise of this option. The Employee further agrees
that, if the Company does not withhold an amount from the Employee’s wages sufficient to satisfy the Company’s withholding obligation, the Employee will reimburse the Company on demand, in cash, for the amount under withheld. 

 
 14. Lock-up Agreement. The Employee agrees that the Employee will not, for a period
of at least ninety (90) days following the effective date of the Company’s distribution of securities in an underwritten public offering to the general public pursuant to a registration statement filed with the Securities and Exchange
Commission, directly or indirectly, sell, offer to sell or otherwise dispose of the shares purchased upon the exercise of the options granted hereunder other than any such shares which are included in such public offering. 
  
 15. Provision of Documentation to Employee. By signing this Agreement the Employee
acknowledges receipt of a copy of this Agreement and a copy of the Plan. 
  

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 16. Governing Law. This Agreement shall be governed by and interpreted in accordance with the internal laws of the
State of Delaware. 
  
 IN WITNESS WHEREOF, the Company and the
Employee have caused this instrument to be executed as of the day and year first above written, and the Employee whose signature appears below acknowledges receipt of a copy of the Plan and acceptance of an original copy of this Agreement.

  

	 /S/    GLENN EHLEY

	 	 	 	 AIRNET COMMUNICATIONS CORPORATION

	 Glen Ehley
	 	 	 	 
					
	Address:	 	 2703 Barrow Dr.

	 	 	 	By:	 	 /s/    JAMES W.
BROWN        

	 	 	 Merritt Island FL 32952

	 	 	 	Name	 	 James W. Brown

	 	 	 	 	 	 	Title:	 	 Chairman

  
  

 -4-Amended and Restated 1999 Equity Incentive Plan

 Exhibit 10.4 
  
 AIRNET COMMUNICATIONS CORPORATION 
 AMENDED AND RESTATED 
 1999 EQUITY INCENTIVE PLAN 
  
 Effective September 1, 1999 
 Amended and Restated as of May 21, 2003 
  

	1.	 	Purpose 

  
 The purpose of the Amended and Restated AirNet Communications Corporation 1999 Equity Incentive Plan (the “Plan”) is to attract and retain the
best available talent and encourage the highest level of performance by directors, employees and other persons who perform services for AirNet Communications Corporation (the “Company”). By affording eligible persons the opportunity to
acquire proprietary interests in the Company and by providing them incentives to put forth maximum efforts for the success of the Company’s business, the Plan is intended to serve the best interests of the Company and its stockholders. The Plan
shall constitute a Third Amendment and Restatement of the Company’s 1994 Stock Option Plan, as amended, and a Second Amendment and Restatement of the Company’s 1996 Independent Director Stock Option Plan. 
  

	2.	 	Definitions 

  
 “Affiliate” shall mean (i) any entity that, directly or indirectly, is controlled by the Company, and (ii) any entity in which the Company has a
significant equity interest, in either case as determined by the Committee. 
  
 “Award” shall mean any Option, Stock Appreciation Right, Restricted Stock Award, Performance Award or other Stock-Based Award. 
  
 “Award Agreement” shall mean any written agreement, contract, or other instrument or document evidencing any
Award, which may, but need not, be executed or acknowledged by a Participant. 
  
 “Board” shall mean the Board of Directors of the Company. 
  
 “Change in Control” shall mean: 
  
 (i) the acquisition, in a single transaction or series of related transactions, by any individual, entity or group (within the meaning of Section 13(d)(3)
or 14(d)(2) of the Exchange Act (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange act) of 50% or more of either (i) the outstanding shares of common stock of the Company immediately after
the consummation of such acquisition (the “Outstanding Company Common Stock”) or (ii) the combined voting 

 
power of the outstanding voting securities of the Company entitled to vote generally in the election of directors immediately after the consummation of such
acquisition (the “Outstanding Company Voting Securities”) or; 
  
 (ii) the cessation for any reason of individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) to constitute at least a majority of the Board; provided, however, that any individual becoming a director
subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such
individual were a member of the Incumbent Board; or 
  
 (iii) the
approval by the shareholders of the Company of a reorganization, merger or consolidation, in each case, unless, following such reorganization, merger or consolidation, more than 50% of, respectively, then outstanding shares of common stock of the
corporation resulting from such reorganization, merger or consolidation and the combined voting power of then outstanding voting securities of such corporation entitled to vote generally in the election of directors is then beneficially owned,
directly or indirectly, by all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such
reorganization, merger or consolidation in substantially the same proportions as their ownership, immediately prior to such reorganization, merger or consolidation, of the Outstanding Company Common Stock and Outstanding Company Voting Securities,
as the case may be; or 
  
 (iv) the approval by the shareholders
of the Company of (i) a complete liquidation or dissolution of the Company or (ii) the sale or other disposition of all or substantially all of the assets of the Company. 
  
 “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 
  
 “Committee” shall mean the Compensation Committee of the Board or
such other committee consisting of not less than two Board members designated by the Board to administer the Plan. 
  
 “Common Shares” shall mean shares of the common stock, $.001 par value, of the Company, or such other securities of the Company as may be
designated by the Committee from time to time. 
  
 “Company” shall mean AirNet Communications Corporation, a Delaware corporation. 
  
 “Effective Date” means September 1, 1999. 
  

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 “Employee” shall mean an employee of the Company or of any Affiliate, a director of the
Company, or any non-employee who provides services to the Company or any Affiliate. 
  
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
  
 “Fair Market Value” of the Common Shares shall mean the average of the high and low prices of the Common Shares as reported by the Nasdaq
National Market System, or such other recognized exchange or over-the-counter market on which the Common Shares shall then be traded, or the Fair Market Value of any other property or other item being valued as determined by the Committee in its
sole discretion. 
  
 “Freestanding Right” shall mean a
Stock Appreciation Right awarded by the Committee pursuant to Section 7 of the Plan other than in connection with an Option. 
  
 “Incentive Stock Option” shall mean the right to purchase Common Shares from the Company that is granted under Section 6 of the Plan and that is
intended to meet the requirements of Section 422 of the Code or any successor provision thereto. 
  
 “Insider” shall mean, at any time, an individual who is an officer, director, or 10% stockholder of the Company within the meaning of Exchange
Act Rule 16a-1(f) as promulgated and interpreted by the SEC under the Exchange Act, or any successor rule or regulation thereto as in effect from time to time. 
  

“Non-Qualified Stock Option” shall mean a right to purchase Common Shares from the Company that is granted under Section 6 of the Plan and
that is not intended to be an Incentive Stock Option. 
  
 “Option” shall mean an Incentive Stock Option or a Non-Qualified Stock Option. 
  
 “Other Stock-Based Award” shall mean any right granted under Section 10 of the Plan. 
  
 “Participant” shall mean any Employee, director or individual
independent contractor of the Company or one of its Affiliates selected by the Committee to receive an Award under the Plan. 
  
 “Performance Award” shall mean any right granted under Section 9 of the Plan. 
  
 “Person” shall mean any individual, corporation, partnership, association, joint-stock company, trust,
unincorporated organization, government or political subdivision thereof or other entity. 
  
 “Plan” shall mean this AirNet Communications Corporation Amended and Restated 1999 Equity Incentive Plan. 
  

 3 

 “QDRO” shall mean a domestic relations order meeting such requirements as the Committee shall
determine, in its sole discretion. 
  
 “Restricted
Period” shall mean the period during which Restricted Stock and Restricted Units may be forfeited to the Company. 
  
 “Restricted Stock” shall mean Common Shares granted under Section 8 of the Plan. 
  
 “Restricted Stock Unit” shall mean any unit granted under Section 8 of the Plan. 
  
 “Rule 16b-3” shall mean Rule 16b-3 as promulgated and interpreted
by the SEC under the Exchange Act, or any successor rule or regulation thereto as in effect from time to time. 
  
 “SEC” shall mean the Securities and Exchange Commission. 
  
 “Stock Appreciation Right” shall mean any Tandem Right or Freestanding Right granted under Section 7 of the Plan.

  
 “Tandem Right” shall mean a Stock Appreciation Right
awarded by the Committee in connection with an Option pursuant to Section 7 of the Plan. 
  
 “Total Disability” shall mean a determination by the Committee that the Employee is unable to perform the duties required of him or her by the Company as a result of any physical or mental condition.

  

	3.	 	Scope and Duration 

  
 Awards under the Plan may be granted in the form of Incentive Stock Options, Non-Qualified Stock Options, Stock Appreciation Rights, Restricted Shares,
Restricted Units, Performance Awards or Other Stock-Based Awards. The maximum aggregate number of Common Shares as to which Awards may be granted from time to time under the Plan is 30,742,986 shares, subject to adjustment as provided in Section 14.
The Common Shares available may be in whole or in part, as the Board shall from time to time determine, authorized but unissued shares or issued shares re-acquired by the Company. Unless otherwise provided by the Committee, Common Shares covered by
expired, terminated or forfeited Awards, Awards which are settled for cash or consideration other than the delivery of Common Shares, or Common Shares which are used to exercise any Award or to satisfy the withholding tax liabilities of any Award
will be available for subsequent awards under the Plan. No Incentive Stock Option shall be granted more than 10 years after the Effective Date. 
  

	4.	 	Administration 

  
 The Plan shall be administered by the Committee. The Committee shall have plenary authority in its discretion, subject to and not inconsistent with the
express provisions of the Plan, 

  

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to grant Awards, to determine the terms and conditions applicable to Awards, to determine the persons to whom, and the time or times at which, Awards shall
be granted and the number of Common Shares to be covered by each grant; to determine the terms and provisions of the Award Agreements entered into in connection with Awards under the Plan; to interpret the Plan; to prescribe, amend and rescind rules
and regulations relating to the Plan; and to make all other determinations provided for in the Plan, or deemed necessary or advisable for the administration of the Plan. To the extent permissible by law, the Committee may delegate to one or more of
its members or to one or more agents such administrative duties as it may deem advisable, and the Committee or any person to whom it has delegated duties as aforesaid may employ one or more persons to render advice with respect to any responsibility
the Committee or such person may have under the Plan. 
  

	5.	 	Eligibility; Factors to be Considered in Granting Awards 

  
 Subject to the discretion of the Committee, Awards may be granted to any Employee of the Company and its Affiliates, a director of the Company, or a
non-employee who provides service to the Company or its Affiliates, except that a non-employee shall not be granted an Incentive Stock Option. In determining the Employees to whom Awards shall be granted and the number of Common Shares or units to
be covered by each Award, the Committee shall take into account the nature of the Employee’s duties, the present and potential contributions to the success of the Company, and such other factors as it shall deem relevant in connection with
accomplishing the purposes of the Plan. 
  
 No award of Incentive
Stock Options shall result in the aggregate Fair Market Value of Common Shares with respect to which Incentive Stock Options are exercisable for the first time by any Employee during any calendar year (determined at the time the Incentive Stock
Option is granted) exceeding $100,000. 
  

	6.	 	Stock Options 

  

	 	(a)	 	Exercise Price 

  
 The purchase price of the Common Shares covered by each Option shall be determined by the Committee, but in the case of an Incentive Stock Option shall
not be less than 100% of the Fair Market Value (110% in the case of a stockholder owning more than 10% of the combined voting power of all classes of Company stock) of the Common Shares on the date the Option is granted, or if there are no sales on
such date, on the next preceding day on which there were sales. 
  

	 	(b)	 	Terms of Options 

  
 The term of each Incentive Stock Option granted under the Plan shall not be more than 10 years (5 years in the case of a stockholder of the Company owning
more than 10% of the combined voting power of all classes of Company stock) from the date of grant, as the 

  

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Committee shall determine, subject to earlier termination as provided in Sections 11 and 12. The term of each Non-Qualified Stock Option granted under the
Plan shall be such period of time as the Committee shall determine, subject to earlier termination as provided in Sections 11 and 12. 
  

	 	(c)	 	Exercise of Options 

  
 (i) Subject to the provisions provided herein, an Option granted under the Plan shall become vested as determined by the Committee. The Committee may, in
its discretion, determine as a condition of any Option, that all or a stated percentage of the Option shall become exercisable, in installments or otherwise, only after the completion of a specified service requirement, or the satisfaction or
occurrence of other conditions. The Committee may also, in its discretion, accelerate the exercisability of any Option at any time and provide in any Award Agreement that the Option shall become immediately exercisable as to all Common Shares
remaining subject to the Option upon a Change in Control. 
  
 (ii)
Subject to applicable regulatory restrictions, an Option may be exercised at any time or from time to time (further subject, in the case of an Incentive Stock Option, to such restrictions as may be imposed by the Code), as to any or all full shares
as to which the Option has become exercisable. Notwithstanding the foregoing provision, no Option may be exercised without the prior consent of the Committee by an Insider until the expiration of six months from the date of the grant of the Option.

  
 (iii) Except as provided in Sections 11, 12 and 13, no Option
may be exercised at any time unless the holder thereof is then an Employee, director or individual independent contractor of the Company or one of its Affiliates. 
  

	 	(d)	 	Payment 

  
 The purchase price of the Common Shares as to which an Option is exercised shall be paid in full at the time of exercise. Payment may be made (i) in cash, which may be paid by check, or other instrument acceptable to
the Company, (ii) with the consent of the Committee or the Chief Executive Officer, in Common Shares, valued at the Fair Market Value on the date prior to exercise, or if there were no sales on such date, on the next preceding day on which there
were sales, (iii) with the consent of the Committee and subject to such terms and conditions as it may determine, by surrender of outstanding Awards under the Plan, (iv) with the consent of the Committee, the delivery of a promissory note containing
such terms as deemed acceptable to the Committee, or (v) any combination of the above. In addition, any amount necessary to satisfy applicable federal, state or local tax requirements shall be paid promptly upon notification of the amount due. The
Committee may permit such amount to be paid in Common Shares previously owned by the Employee, or a portion of the Common Shares that otherwise would be distributed to such Employee upon exercise of the Option, or a combination of cash and such
Common Shares. 
  

	 	(e)	 	Change in Control 

  

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 Unless the Board determines otherwise, and except as otherwise provided herein, all Options outstanding
under the Plan shall accelerate and become immediately exercisable for a period of fifteen days, or such longer or shorter period as the Board may prescribe, (the “notice period”) immediately prior to the scheduled consummation of a Change
in Control, provided, however, that any such acceleration and any exercise of options during the notice period shall be (i) conditioned upon the consummation of the Change in Control and (ii) effective only immediately before the consummation of
such Change in Control. 
  
 Upon consummation of any Change in
Control, the Plan and all outstanding but unexercised Options shall terminate. Notwithstanding the foregoing, to the extent provision is made in writing in connection with such Change in Control for the continuation of the Plan and the assumption of
Options under the Plan theretofore granted, or for the substitution for such Options of new options covering the stock of a successor company, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kinds of shares or
units and exercise prices, then the Plan and Options theretofore granted shall continue in the manner and under the terms so provided, and the acceleration and termination provisions set forth in the first two sentences of this Section 6(e) shall be
of no effect. The Company shall send written notice of a Change in Control to all individuals who hold Options not later than the time at which the Company gives notice thereof to its stockholders. 
  

	7.	 	Stock Appreciation Rights 

  

	 	(a)	 	Awards 

  
 The Committee may award Stock Appreciation Rights to Employees of the Company or any of its Affiliates. Stock Appreciation Rights may be either Tandem Rights or Freestanding Rights. Tandem Rights may be awarded either
at the time the Option is granted or at any time prior to the exercise of the Option. 
  

	 	(b)	 	Terms and Conditions 

  
 (i) Each Tandem Right shall be subject to the same terms and conditions as the related Option and shall be exercisable only to the extent the Option is
exercisable. 
  
 (ii) The price per share specified in a
Freestanding Right shall be determined by the Committee, but in no event shall be less than the Fair Market Value of the Common Shares as of the date of grant. The term of each Freestanding Right shall be such period of time as the Committee shall
determine. Subject to the provisions of the Plan, each Freestanding Right shall become vested as determined by the Committee. Prior to becoming 100% vested, each Freestanding Right shall become exercisable, in installments or otherwise, as the
Committee shall determine. The Committee may also, in its discretion, accelerate the exercisability of any Freestanding Right at any time, including a Change in Control. 
  

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	 	(c)	 	Exercise 

  
 (i) Upon exercise of a Stock Appreciation Right, (subject, in the case of a Tandem Right, to the surrender of the related Option or any unexercised portion thereof which the Employee determines to surrender for this
purpose) the Employee shall be entitled to receive, subject to the provisions of the Plan and such rules and regulations as from time to time may be established by the Committee, a payment having an aggregate value equal to (A) the excess of (i) the
Fair Market Value on the exercise date of one Common Share over (ii) the Option price per share, in the case of a Tandem Right, or the price per share specified in the terms of a Freestanding Right, times (B) the number of Common Shares with respect
to which the Stock Appreciation Right shall have been exercised. 
  
 (ii) Upon exercise of a Tandem Right, the number of Common Shares subject to exercise under the related Option shall automatically be reduced by the number of Common Shares represented by the Option or portion thereof surrendered.

  
 (iii) A Tandem Right related to an Incentive Stock Option may
only be exercised if the Fair Market Value of a Common Share on the exercise date exceeds the Option price. 
  

	 	(d)	 	Payments 

  
 (i) The payment described in subparagraph (c)(i) above shall be made in the form of cash, Common Shares, or a combination thereof, as elected by the Employee, provided that the Committee shall have sole discretion to
consent to or disapprove the election of an officer or director to receive all or part of a payment in cash. 
  
 (ii) If upon exercise of a Stock Appreciation Right the Employee is to receive a portion of the payment in Common Shares, the number of shares received
shall be determined by dividing such portion by the Fair Market Value of a share on the exercise date. The number of Common Shares received may not exceed the number of Common Shares covered by any Option or portion thereof surrendered. Cash will be
paid in lieu of any fractional share. 
  
 (iii) Whether payments
to Employees upon exercise of Tandem Rights or Freestanding Rights are made in cash, Common Shares or a combination thereof, the Committee shall have sole discretion as to timing of the payments, whether in one lump sum or in annual installments or
otherwise deferred, which deferred payments may in the Committee’s sole discretion (i) bear amounts equivalent to interest or cash dividends, (ii) be treated as invested in the manner from time to time determined by the Committee, with
dividends or other income thereon being deemed to have been so reinvested, or (iii) for the convenience of the Company, contributed to a trust, which may be revocable by the Company or subject to the claims of its creditors, for investment in the
manner from time to time determined by the Committee and set forth in the instrument creating such trust, all as the Committee shall determine. 
  

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 (iv) No payment will be required from the Employee upon exercise of a Stock Appreciation Right, except
that any amount necessary to satisfy applicable federal, state or local tax requirements shall be withheld or paid promptly upon notification of the amount due and prior to or concurrently with delivery of cash or a certificate representing shares.
The Committee may permit such amount to be paid in (i) Common Shares previously owned by the Employee, (ii) a portion of the Common Shares that otherwise would be distributed to such Employee upon exercise of the right, or (iii) a combination of
cash and Common Shares. 
  

	8.	 	Restricted Shares or Restricted Units 

  

	 	(a)	 	Awards 

  
 Restricted Stock or Restricted Stock Units may be awarded by the Committee in its sole discretion. At the time an award of Restricted Shares or Restricted Units is made, the Committee shall (i) establish a Restricted
Period applicable to such award, (ii) prescribe conditions for the incremental lapse of restrictions during the Restricted Period, or for the lapse or termination of restrictions upon the satisfaction or occurrence of other conditions in addition to
or other than the expiration of the Restricted Period, including a Change in Control, and (iii) determine all other terms and conditions of such award, including voting and dividend or dividend equivalent rights. 
  

	 	(b)	 	Restrictions on Transfer 

  
 Upon the grant of Restricted Shares, a stock certificate representing the number of Common Shares equal to the number of Restricted Shares granted to an
Employee shall be registered in the Employee’s name but shall be held in custody by the Company for the Employee’s account. The Employee shall not be entitled to delivery of the certificate or to sell, transfer, assign, pledge or otherwise
encumber the Restricted Shares until the expiration of the Restricted Period and the satisfaction of any other conditions prescribed by the Committee. Upon the forfeiture of any Restricted Shares, such forfeited Restricted Shares shall be
transferred to the Company without further action by the Employee. 
  

	 	(c)	 	Delivery of Shares 

  
 Upon the expiration or termination of the Restricted Period and the satisfaction of any other conditions prescribed by the Committee or at such earlier
time as provided for in Section 12, a stock certificate for the number of Common Shares with respect to which the restrictions have lapsed, or one Common Share for each Restricted Stock Unit with respect to which the restrictions have lapsed, shall
be delivered, free of all such restrictions, except any that may be imposed by law, to the Employee or the Employee’s beneficiary or estate, as the case may be. Fractional Shares will be paid in cash. 
  

	 	(d)	 	Payment 

  

 9 

 No payment will be required from the Employee upon the issuance or delivery of any Common Shares, except
that any amount necessary to satisfy applicable federal, state or local tax requirements shall be withheld or paid promptly upon notification of the amount due and prior to or concurrently with the issuance or delivery of a certificate representing
such shares. The Committee may permit such amount to be paid in (i) Common Shares previously owned by the Employee, (ii) a portion of the Common Shares that otherwise would be distributed to such Employee upon the lapse of the restrictions
applicable to the Restricted Shares or Restricted Units, or (iii) a combination of cash and Common Shares. 
  

	9.	 	Performance Awards 

  

	 	(a)	 	Grant 

  
 Performance Awards may be granted to any Employee by the Committee in its sole discretion. A Performance Award shall consist of a right that is (i) denominated in cash or Common Shares, (ii) valued, as determined by
the Committee, in accordance with the achievement of such performance goals during such performance periods as the Committee shall establish, and (iii) payable at such time and in such form as the Committee shall determine. 
  

	 	(b)	 	Terms and Conditions 

  
 Subject to the terms of the Plan and any applicable Award Agreement, the Committee shall (i) determine the performance goals to be achieved during any
performance period, (ii) the length of any performance period, (iii) the amount of any Performance Award, (iv) the amount and kind of any payment or transfer to be made pursuant to any Performance Award, and (v) all other terms and conditions of any
Performance Award, including the consequences of death, Total Disability, termination of employment and Change in Control. 
  

	 	(c)	 	Payment of Performance Awards 

  
 Performance Awards may be paid in a lump sum or in installments following the close of the performance period or, in accordance with procedures
established by the Committee, on a current or deferred basis. 
  

	10.	 	Other Stock-Based Awards 

  
 The Committee shall have authority to grant to eligible Employees an “Other Stock-Based Award,” which shall consist of any right that is an
Award of Common Shares or an Award denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, Common Shares (including, without limitation, securities convertible into Common Shares), as deemed by the
Committee to be consistent with the purposes of the Plan, other than an Award described in Sections 6 through 9 above. 
  

 10 

	11.	 	Termination of Employment 

  
 Unless otherwise determined by the Committee, and subject to such restrictions as may be imposed by the Code in the case of any Incentive Stock Options,
in the event that the employment of an Employee to whom an Option or Stock Appreciation Right has been granted under the Plan shall be terminated (except as set forth in Section 12), such Option or Stock Appreciation Right may, subject to the
provisions of the Plan, be exercised, to the extent that the Employee was entitled to do so at the termination of his employment, at any time within three months after such termination, but in no case later than the date on which the Option or Stock
Appreciation Right terminates. 
  
 Unless otherwise determined by
the Committee, if an Employee to whom Restricted Stock or Restricted Stock Units have been granted ceases to be an Employee prior to the end of the Restricted Period and the satisfaction of any other conditions prescribed by the Committee for any
reason other than death or Total Disability, the Employee shall immediately forfeit all Restricted Stock and Restricted Stock Units. 
  

	12.	 	Death or Total Disability of Employee 

  
 Unless otherwise determined by the Committee, if an Employee to whom an Option or Stock Appreciation Right has been granted under the Plan shall die or
suffer a Total Disability while employed by the Company, such Option or Stock Appreciation Right may be exercised, to the extent it was exercisable at the date of such Employee’s death or Total Disability, at any time within one year after the
date of the Employee’s death or Total Disability, but in no case later than the date on which the Option or Stock Appreciation Right otherwise terminates. 
  

If an Employee to whom Restricted Stock or Restricted Stock Units have been granted shall die or suffer a Total Disability prior to the end of the
Restricted Period and the satisfaction of any other conditions prescribed by the Committee, or in cases of other special circumstances, the Committee may, in its sole discretion, waive in whole or in part any or all remaining restrictions with
respect to such Employee’s Restricted Stock or Restricted Stock Units. 
  

	13.	 	Non-Transferability of Awards 

  
 Awards granted under the Plan shall not be transferable other than by will or the laws of descent and distribution, or pursuant to a qualified domestic
relations order as defined by Section 414(p) of the Code except to the extent provided in any Award Agreement and permitted under applicable law. 
  

 11 

	14.	 	Adjustment upon Changes in Capitalization, etc. 

  
 (a) The existence of outstanding Options or other Awards shall not affect in any way the right or ability of the Company or its stockholders to make or
authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or prior
preference stock ahead of or affecting the Common Shares or the rights hereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business or substantially all of the outstanding stock of
the Company, or any other corporate act or proceeding, whether of a similar character or otherwise. 
  
 (b) If the Company shall effect a subdivision, consolidation or reclassification of the Common Shares or other capital readjustment or recapitalization,
the payment of a stock dividend, or other increase or reduction in the number of the Common Shares outstanding, without receiving compensation therefor in money, services or property, then the number, class, and per share price of Common Shares
shall be appropriately adjusted in such a manner as to entitle Employees to receive, for the same aggregate cash consideration, if applicable, the same total number and class of shares as he would have received as a result of the event requiring the
adjustment and the number of shares of stock which may be issued under the Plan shall be appropriately adjusted in order to prevent dilution or enlargement of rights. 
  
 (c) Except as hereinbefore expressly provided, the issue by the Company of shares of stock of any class, for cash or
property, or for labor or services, either upon direct sale or upon the exercise of rights or warrants to subscribe therefor, or upon conversion of shares or obligations of the Company convertible into such shares or other securities, shall not
affect, and no adjustment by reason thereof shall be made with respect to, the number or price of Common Shares then subject to outstanding options. 
  

	15.	 	Effective Date 

  
 The Plan was effective as of September 1, 1999; provided that the adoption of the amended and restated Plan shall have been approved by the stockholders
of the Company not later than 12 months after the date of such amendment and restatement. The Committee may, in its discretion, grant Awards under the Plan, the grant, exercise or payment of which shall be expressly subject to the conditions that,
to the extent required at the time of grant, exercise or payment, (i) if the Company deems it necessary or desirable, a Registration Statement under the Securities Act of 1933, as amended, with respect to such Common Shares shall be effective, and
(ii) any requisite approval or consent of any governmental authority of any kind having jurisdiction over Awards granted under the Plan shall be obtained. 
  

	16.	 	Amendment of the Plan 

  
 (a) The Board at any time, and from time to time, may amend the Plan. However, except as provided in Section 14 relating to adjustments upon changes in
the Common Shares, no 

  

 12 

 
amendment shall be effective unless approved by the stockholders of the Company within twelve (12) months before or after the adoption of the amendment,
where the amendment will: 
  
 (i) Increase the number of Common
Shares reserved for Awards under the Plan; 
  
 (ii) Modify the
requirements as to eligibility for participation in the Plan (to the extent such modification requires stockholder approval in order for the Plan to satisfy the requirements of Section 422(b) of the Code); or 
  
 (iii) Modify the Plan in any other way if such modification requires
stockholder approval in order for the Plan to satisfy the requirements of Section 422(b) of the Code. 
  
 (b) The Board may in its sole discretion submit any other amendment to the Plan for stockholder approval, including, but not limited to, amendments to the
Plan intended to satisfy the requirements of Section 162(m) of the Code and the regulations promulgated thereunder regarding the exclusion of performance-based compensation from the limit on corporate deductibility of compensation to certain
executive officers. 
  
 (c) It is expressly contemplated that the
Board may amend the Plan in any respect the Board deems necessary or advisable to provide optionees with the maximum benefits provided or to be provided under the provisions of the Code and the regulations promulgated thereunder relating to employee
Incentive Stock Options and/or to bring the Plan and/or Options granted under it into compliance therewith. 
  
 (d) Rights and obligations under any Award granted before amendment of the Plan shall not be impaired by any amendment of the Plan, unless: (i) the
Company requests the consent of the person to whom the Award was granted; and (ii) such person consents in writing. 
  

	17.	 	Termination or Suspension of the Plan 

  
 (a) The Board may suspend or terminate the Plan at any time. No Stock Awards may be granted under the Plan while the Plan is suspended or after it is
terminated. No Incentive Stock Options may be granted under the Plan after August 31, 2009. 
  
 (b) Rights and obligations under any Awards granted while the Plan is in effect shall not be impaired by suspension or termination of the Plan, except with the consent of the Person to whom the Award was granted.

  

	18.	 	Miscellaneous 

  

	 	(a)	 	Written Agreements 

  
 Each Award hereunder shall be evidenced by an Award Agreement that shall contain such restrictions, terms and conditions as the Committee may require.

  

 13 

	 	(b)	 	No Right to Employment 

  
 Nothing in the Plan or in any Award granted pursuant to the Plan shall confer upon any Employee any right to continue in the employ of the Company or any
of its subsidiaries or interfere in any way with the right of the Company or any such subsidiary to terminate such employment at any time. 
  

	 	(c)	 	Governing Law 

  
 The validity, construction, and effect of the Plan and any rules and regulations relating to the Plan and any Award Agreement shall be determined in
accordance with the laws of the State of Delaware. 
  

	 	(d)	 	Severability 

  
 If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any Employee or
Award, or would disqualify the Plan or any Award under any law or regulations deemed applicable, or the compliance with which is deemed desirable, including any accounting rules or regulations, by the Committee, such provision shall be construed or
deemed amended to conform to the applicable laws, rules or regulations, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be
stricken as to such jurisdiction, Employee or Award and the remainder of the Plan and any such Award shall remain in full force and effect. 
  

	 	(e)	 	Other Laws 

  
 The Committee may refuse to issue or transfer any Common Shares or other consideration under an Award if, acting in its sole discretion, it determines that the issuance or transfer of such Common Shares or such other
consideration might violate any applicable law or regulation or entitle the Company to recover the same under Section 16(b) of the Exchange Act, and any payment tendered to the Company by an Employee, other holder or beneficiary in connection with
the exercise of such Award shall be promptly refunded to the relevant Employee, holder, or beneficiary. 
  

 14 

 IN WITNESS WHEREOF, the Company has caused its duly authorized officer to execute this Amended and
Restated 1999 Equity Incentive Plan as of this 21st day of May 2003. 
  

	 AIRNET COMMUNICATIONS CORPORATION

		
	 By:
	 	 /s/ Glenn A. Ehley

	 Name:
	 	 Glenn A. Ehley

	 Title:
	 	 President and Chief Executive Officer

  

 15

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