Document:

Separation, Option Amendment

 Exhibit 10.1 
  
 SEPARATION, OPTION AMENDMENT AND CONSULTANT AGREEMENT 
  
 THIS SEPARATION, OPTION AMENDMENT AND CONSULTANT AGREEMENT (the
“Agreement”) is entered into as of September 6, 2005, between First Avenue Networks, Inc., a Delaware corporation (the “Company”), and Dean M. Johnson (the “Executive”). 
  
 WHEREAS, the Executive’s employment as the Company’s President and
Chief Executive Officer shall be terminated effective as of 11:59 p.m., Eastern Daylight Time, on September 6, 2005 (the “Separation Date”); 
  
 WHEREAS, the Company would like to have the benefit of the Executive’s advice and other consulting services for a period of time following the
Separation Date, and the Executive has expressed willingness to provide such services; 
  
 WHEREAS, the Executive and the Company wish to make certain agreements regarding (i) the payment of severance and other benefits to the Executive and (ii) the undertaking by Executive of certain obligations with
respect to the Company. 
  
 IN CONSIDERATION FOR the mutual
promises set forth below, the parties agree as follows: 
  
 1.
Termination of Employment; Board Membership. Effective as of the Separation Date, the Executive’s employment as the Company’s President and Chief Executive Officer has terminated. The Executive’s membership on the
Company’s Board of Directors shall continue until such time as the Executive resigns from the Board or chooses not to stand for re-election. 
  
 2. Final Salary and Vacation Pay: The Executive acknowledges that he has received pay for all work performed for the Company during the current
payroll period, to the extent not previously paid, as well as pay, at his final base rate of pay, for the number of vacation days he had earned, but not used, as of the Separation Date determined in accordance with Company policy and as reflected on
the books of the Company. 
  
 3. Severance Benefits. In
consideration of the Executive’s acceptance of this Agreement and subject to the Executive meeting his obligations hereunder in all material respects, including, without limitation those set forth in the last paragraph of this Section 3 and in
Sections 4, 5, 6, 7, 8 and 9: 
  
 (a) The Company
shall pay the Executive severance in the amount of two hundred and fifty thousand dollars ($250,000) (the “Severance Amount”). The Severance Amount will be paid in six equal monthly installments, in accordance with the
Company’s standard payroll practices, beginning on the Company’s first regular payday following the Effective Date of the General Release (as defined in the General Release); provided, however, that if any portion of the Severance Amount
due to the Executive would remain unpaid as of March 1, 2006, it shall be paid on March 1, 2006; 
  

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 (b) The Company shall pay the Executive a bonus payment of $85,274, (which is equal to
the Executive’s target bonus of $125,000, pro-rated for a partial year based on the Separation Date) (the “Transition Bonus”). The Transition Bonus shall be paid in one lump sum within five business days following the Effective
Date of the General Release (as defined in the General Release); 
  
 (c) If the Executive elects to continue his participation and that of his eligible dependents in the Company’s group health and dental plans pursuant to his so-called “COBRA” coverage continuation
rights by signing and returning the election form that is provided, then, for a period of 12 months from the Separation Date or, if earlier, until the Executive ceases to be eligible for participation in such plans under COBRA or the terms of the
plans, the full premium cost of such coverage will be borne by the Company (the “Medical Benefit”); 
  
 (d) Notwithstanding anything to the contrary contained in the Company’s Stock Option Plan or any option grant certificate issued to
the Executive, upon the Execution by the Company and the Executive of this Agreement, all options to purchase shares of the common stock of the Company then held by the Executive shall become immediately vested and exercisable (the
“Accelerated Options”). Such Accelerated Options will remain exercisable for 90 days following the Separation Date in accordance with the option grant certificate, a copy of which is attached hereto as Exhibit A, issued to
the Executive as of September 22, 2003 (the “Option Certificate”). Section 1 of the Option Certificate is hereby amended so as to give effect to the first sentence of this Section 3(d). Except as otherwise expressly provided in this
Section 3(d), the terms and conditions of the Accelerated Options shall remain unchanged and shall be governed by the terms of the Stock Option Plan, the Option Certificate and any other restrictions or provisions generally applicable to shares
purchased by Company employees. For the sake of clarity, and notwithstanding anything else to the contrary herein, the Accelerated Options are not conditioned upon the Executive signing the General Release (as defined below); and 
  
 (e) All payments made by the Company under Sections 2 and 3
hereof by any tax or other amounts required to be withheld by the Company under applicable law, and all other deductions authorized by the Executive. 
  
 The provision of any of the benefits described in this Section 3 by the Company to the Executive (other than Accelerated Options) is expressly conditioned upon the
Executive signing a release of claims in substantially the form of the General Release attached hereto as Exhibit B (the “General Release”) within twenty-one days (or such greater period as may be specified by the Company)
following the Separation Date or the date he receives a copy of the General Release, and upon the Executive not revoking the General Release in a timely manner thereafter. The Executive acknowledges and agrees that he will not receive any Severance
Amount, Transition Bonus or Medical Benefit if he does not execute an effective General Release and thereby waive those claims against the Company and the related entities specified in the General Release, and that there is good consideration for
said General Release. Further, if the Executive fails to comply with any provision of this Agreement during the period in which he is entitled to receive the Severance Amount, Transition Bonus or Medical Benefit described above, he shall no longer
be entitled to receive the Severance Amount, Transition Bonus or Medical Benefit and the Company will have no further obligation to pay or provide them. 
  

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 4. Consulting Services. In consideration of the Executive’s acceptance of this Agreement, and
subject to the Executive meeting his obligations hereunder in all material respects, including without limitation those set forth in the last paragraph of Section 3 and in Sections 4, 5, 6, 7, 8 and 9: 
  
 (a) Consulting Period. The Company hereby engages the
Executive’s services as a full-time consultant to the Company for the period commencing as of the Separation Date and terminating on the date that is seventy-five (75) days after the Separation Date, unless earlier terminated as provided in
Section 4(f) hereof (the “Consulting Period”); 
  
 (b) Consulting Services. During the Consulting Period, the Executive shall make himself available to the Company to provide such advice and other consulting services, reasonably related to his skills and
experience, as the Company may from time to time request, including but not limited to advice relating to transition issues and special projects (the “Consulting Services”). The Executive expressly agrees that all services provided
by him to the Company during the Consulting Period shall be as an independent contractor and not as an employee of the Company; 
  
 (c) Consulting Fees. As compensation for all services rendered by the Executive during the Consulting Period, and subject to the
provision of those services, the Company shall pay the Executive a consulting fee at the same rate as the Executive’s base salary on the Separation Date, payable in accordance with the Company’s standard practices for consultants (the
“Consulting Fees”). Because the Executive will be an independent contractor and not an employee during the Consulting Period, the Consulting Fees are not subject to withholding for social security, unemployment, Medicare, federal,
state or local income or other taxes, and all taxes and other legally required payments shall be the Executive’s sole responsibility; 
  
 (d) Limitations on Authority. During the Consulting Period, the Executive will have no right, power or authority in any way to bind
the Company or any of its Affiliates to the fulfillment of any condition, contract or obligation or to create any liability binding on the Company. The Company will not be responsible for any expenses or liabilities incurred by the Executive;
provided, however, that the Company shall promptly reimburse the Executive for reasonable business expenses incurred by the Executive in performing the Consulting Services after presentment of a reasonably satisfactory invoice therefor; 

 
 (e) No Eligibility for Employee Benefits. As an
independent contractor, the Executive agrees that neither he nor any individual claiming through him will be eligible to participate in, or receive benefits under, any bonus or other compensation plan, stock option plan, or employee benefit plan,
program or arrangement maintained by the Company or any of its Affiliates (the “Plans”). Further, the Executive will not be eligible 

  

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to earn paid time off during the Consulting Period. The Executive hereby waives any and all rights to participate in, or receive benefits under, any of the
Plans; provided, however, that the Executive will be eligible for the Medical Benefit as set forth in Section 3(c) hereof; 
  
 (f) Termination of Consulting Period. The Executive may terminate his provision of Consulting Services to the Company at any time
upon thirty days’ written notice. The Company may terminate the Executive’s services during the Consulting Period in the event of fraud or other material dishonesty on the part of the Executive with respect to the Company or any of its
Affiliates, or in the event that it determines that the Executive has materially breached any of his obligations under this Agreement. Any such termination by the Executive or the Company will terminate the Consulting Period, the
Executive’s obligation to provide Consulting Services and the Company’s obligation to pay the Consulting Fees; 
  
 5. Confidential Information; Proprietary Rights. 
  
 (a) The Executive agrees to comply with the policies and procedures of the Company and its Affiliates for protecting Confidential
Information and shall not, without the written consent of the Board of Directors of the Company, disclose to any person or entity (other than a person or entity to which disclosure is required by law), any Confidential Information obtained by the
Executive incident to his employment or consulting relationship with the Company. As used herein, “Confidential Information” means any and all information of the Company and its Affiliates that is not generally known by others with
whom they compete or do business, or with whom any of them plan to compete or do business and any and all information, publicly known in whole or in part or not, which, if disclose4d by the Company or its Affiliates would assist in competition
against them; provided, however, that Confidential Information shall not include information that is generally known to the public other than as a result of unauthorized disclosure by the Executive. The Executive hereby acknowledges
that Confidential Information constitutes a unique and valuable asset of the Company and its Affiliates acquired at great time and expense by the Company and its Affiliates, and that any disclosure or other use of such information other than for the
sole benefit of the Company would be wrongful and would cause irreparable harm to the Company and its Affiliates. As used herein, “Affiliates” means all persons and entities directly or indirectly controlling, controlled by or under
common control with the Company, where control may be by either management authority or equity interest. 
  
 (b) All inventions, developments, methods, processes and ideas conceived, developed or reduced to practice by the Executive during his
employment, and for three months thereafter, which are directly or indirectly useful in, or relate to, the business of or services provided by or sold by the Company or any of its Affiliates shall be promptly and fully disclosed by the Executive to
an appropriate executive officer of the Company (accompanied by all papers, drawings, data and other materials relating thereto) and shall be the Company’s exclusive property as against the Executive. The Executive hereby assigns and agrees to
assign to the Company and will, upon the 

  

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Company’s request and at its expense (but without any additional compensation to the Executive), execute all documents reasonably necessary to assign
the Executive’s right, title and interest in any such invention, development, method or idea (and to direct issuance to the Company of all patents or copyrights with respect thereto). 
  
 6. Restricted Activities. 
  
 (a) The Executive agrees that, for two years following the
Separation Date (the “Non-Competition Period”), he will not, directly or indirectly, as an officer, director, executive, consultant, owner, general partner, agent or employee become involved with or undertake any planning for any
business that directly or indirectly competes with the Company in providing fixed broadband wireless services for mobile backhaul, bypass and fiber extensions in the United States, including without limitation, combining or conspiring with other
employees or any third party for the purpose of organizing any such competitive activity. 
  
 (b) The Executive further agrees that during the Non-Competition Period, he shall not, in any manner, directly or indirectly, alone or
jointly, with or as an agent for, or as an employee of, any person, firm or corporation, knowingly hire or attempt to hire, employ, solicit and/or induce to leave any employee or independent consultant of the Company or any of its subsidiaries, or
any former employee or independent consultant who was employed or retained by the Company or any of its subsidiaries within 60 days preceding such attempt to employ or solicit. The Company may notify subsequent employers of the Executive of the
terms of Section 6 hereof. 
  
 7. Cooperation. The
Executive agrees to cooperate with the Company for up to 45 days following the conclusion of the Consulting Period, to continue advising the Company in respect of the management transition. The Executive further agrees to reasonably cooperate with
the Company during the Non-Competition Period with respect to matters arising during or related to Executive’s employment or Consulting Services, including without limitation all matters in connection with any governmental investigation,
litigation or regulatory or other proceeding which may have arisen during or relate to Executive’s employment or Consulting Services. 
  
 8. No Disparagement. The Executive agrees that during the Non-Competition Period, the Executive shall not disparage the Company or any of its
subsidiaries, or, unless otherwise required by any applicable laws, rules, or regulations, otherwise knowingly make any statement or take any actions that would be materially harmful to the business, interests or reputation of the Company or any of
its subsidiaries. 
  
 9. Restrictions on Trading; Options.
Executive agrees that during the Non-Competition Period he will not, directly or indirectly, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant
for the sale of, or otherwise dispose of or transfer any shares of common 

  

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stock of the Company or any securities convertible into or exchangeable or exercisable for shares of common stock of the Company, now owned by Executive or
hereafter acquired by Executive on exercise of stock options granted to Executive by the Company, or enter into any swap or any other agreement or any transaction that transfers, in whole or in part, directly or indirectly, the economic consequences
of ownership of the Company’s common stock, whether any such swap or transaction is to be settled by delivery of common stock or other securities, in cash or otherwise, provided that the Executive may transfer or dispose of (or engage in any
other transaction prohibited by the foregoing with respect to) up to 200,000 shares of Company common stock in any thirty (30) day period. Executive agrees that the Company may issue stop transfer orders with respect to his shares to enforce the
foregoing. 
  
 10. Waiver of Breach. The failure of the
Company at any time to require performance by the Executive of any provision hereof shall in no way affect the Company’s right thereafter to enforce the same, nor shall the waiver by the Company of any breach of any provision hereof be taken or
held to be a waiver of any succeeding breach of any provision or as a waiver of the provision itself. 
  
 11. Attorneys’ Fees. 
  
 (a) The Company shall promptly pay after presentment of a reasonably satisfactory invoice therefor the reasonable legal fees and related
professional expenses of the Executive, up to ten thousand dollars ($10,000), incurred in connection with the entering into of this Agreement by Executive. 
  
 (b) In the event of any suit, arbitration or other proceeding between the parties hereto with respect to this Agreement, the prevailing
party shall, in addition to such other relief as may be awarded, be entitled to reasonable attorneys’ fees, expenses, and costs of investigation, all as actually incurred. 
  
 12. Surrender of Books and Records. To the extent not already done, the Executive shall immediately surrender to the
Company all lists, books, records, documents and other information incident to the Company’s business and all other property belonging to the Company, it being distinctly understood that all such lists, books, records, documents and all such
other information are the property of the Company (the “Company Property”), except to the extent needed for the proper performance of the Executive’s duties during the Consulting Period. The Executive agrees to return all
Company Property at the conclusion of the Consulting Period or at such earlier time as the Company may designate. 
  
 13. Amendment of Options. The Company represents and warrants to the Executive that (i) this Agreement has been duly and validly approved by the
Board of Directors of the Company and, if necessary, the compensation committee of the Company, and (ii) any and all Board of Directors, compensation committee or other corporate actions that may be required to approve and give effect to this
Agreement and the terms set forth herein, including without limitation the amendment to the Option Certificate described in Section 3(d) and any amendment to the Stock Option Plan that may be necessary to give effect to the provisions of Section
3(d), have been taken. Additionally, by his execution hereof, the Executive acknowledges and agrees to the amendment of those options issued to him pursuant to the Option Certificate that have not vested as of December 31, 2004 to increase the
exercise price thereof to $0.52 per share. 
  

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 14. Enforcement of Covenants. The Executive acknowledges that he has carefully read and considered
all of the terms and conditions of this Agreement, including the restraints imposed upon him by Sections 5, 6 and 8 hereof. The Executive agrees that such restraints are necessary for the reasonable and proper protection of the Company and its
Affiliates and that each and every one is reasonable in respect to subject matter, length of time and geographic area. The Executive further acknowledges that the violation of any provision of Sections 5, 6 or 8 of this Agreement would cause
substantial and irreparable injury to the Company and its Affiliates and that the Company would not have entered into this Agreement without such restrictions. The parties further agree that in the event that any provision of Sections 5, 6 or 8
hereof shall be determined by any court of competent jurisdiction to be unenforceable by reason of its being extended over too great a time, too large a geographic area or too great a range of activities, such provision shall be deemed to be
modified to permit its enforcement to the maximum extent permitted by law. 
  
 15. Acknowledgement of Full Payment. The Executive acknowledges and agrees that the payments provided under Section 2 of this Agreement are in complete satisfaction of any and all compensation due to the
Executive from the Company, whether for services provided to the Company or otherwise, through the Separation Date and that, except as expressly provided under this Agreement, no further compensation is owed to the Executive. Except as otherwise
expressly provided in Section 3(c) hereof, the Executive’s participation in all employee benefit plans of the Company has ended as of the Separation Date in accordance with the terms of those plans, and the Executive will not continue to earn
vacation or other paid time off after the Separation Date. 
  
 16.
Binding Effect. This Agreement together with the General Release creates legally binding obligations and the Executive acknowledges that he has been advised by the Company to consult an attorney before signing this Agreement or the General
Release. In signing this Agreement, the Executive gives the Company assurance that he has signed it voluntarily and with a full understanding of its terms; that he has had sufficient opportunity, before signing this Agreement, to consider its terms
and to consult with an attorney; and that, in signing this Agreement, he has not relied on any promises or representations, express or implied, that are not set forth expressly in this Agreement. 
  
 17. Entire Agreement. This Agreement, with its attachments, and the
General Release, when effective, constitute the entire agreement between the parties with respect to the subject matter hereof, and supersede any and all prior negotiations, written or oral agreements, understandings and employment relationships,
excluding only the Executive’s obligations with respect to the securities of the Company. 
  
 18. Miscellaneous. No rights or obligations hereunder may be assigned by either party without the prior written consent of the other, except that the Company may assign its rights and obligations hereunder to
any purchaser of all or substantially all of the assets of the Company. This Agreement shall inure to the benefit of and be binding upon any successor of the 

  

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Company. This Agreement cannot be amended, modified or supplemented in any respect except by an agreement in writing signed by the Executive and an expressly
authorized representative of the Company. This Agreement shall be governed by, and construed in accordance with, the internal laws of the Commonwealth of Virginia, without resort to choice-of-law principles. 
  
 [The remainder of this page has been intentionally left blank.]

  
  

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 IN WITNESS WHEREOF, the undersigned have executed this Separation, Option Amendment and Consultant
Agreement effective as of the date first set forth above. 
  

					
	EXECUTIVE	  	FIRST AVENUE NETWORKS, INC.
			
	 /s/ Dean M. Johnson

	  	By:	 	 /s/ Richard L. Shorten, Jr.

	Dean M. Johnson	  	 	 	 Richard L. Shorten, Jr.
 Chairman

  

 -9-Executive Employment Agreement

 Exhibit 10.2 
  
 EXECUTIVE EMPLOYMENT AGREEMENT 
  
 AGREEMENT made and entered into by and between First Avenue Networks, Inc., a Delaware corporation, (the “Company”) and Michael Gallagher (the
“Executive”) on the 7th day of September, 2005. 
  
 WHEREAS, the operations of the Company and its Affiliates are a complex matter requiring direction and leadership in a variety of arenas, including financial, strategic planning, regulatory, community relations and others; 
  
 WHEREAS, the Executive is possessed of certain experience and expertise that
qualify him to provide the direction and leadership required by the Company and its Affiliates; and 
  
 WHEREAS, subject to the terms and conditions hereinafter set forth, the Company therefore wishes to employ the Executive as its Chief Executive Officer
and the Executive wishes to accept such employment; 
  
 NOW,
THEREFORE, in consideration of the foregoing premises and the mutual promises, terms, provisions and conditions set forth in this Agreement, the parties hereby agree: 
  
 1. Employment. Subject to the terms and conditions set forth in this Agreement, the Company hereby offers and the
Executive hereby accepts employment. 
  
 2. Term. Subject
to earlier termination as hereafter provided, this Agreement shall have an original term of one (1) year commencing on September 7, 2005 (the “Effective Date”) and shall be automatically extended thereafter for successive terms of one (1)
year each, unless either party provides notice to the other at least thirty (30) days prior to the expiration of the original or any extension term that the Agreement is not to be extended. The term of this Agreement, as from time to time extended
or renewed, is hereafter referred to as “the term of this Agreement” or “the term hereof.” 
  
 3. Capacity and Performance. 
  
 (a) During the term hereof, the Executive shall serve the Company as its Chief Executive Officer. In addition, and without further compensation, during
the term hereof, if so elected or appointed from time to time, the Executive shall serve as a member of the Board of Directors of the Company (the “Board”) and, if so elected or appointed from time to time, also shall serve as a director
and/or officer of one or more of the Company’s Affiliates. 
  
 (b) During the term hereof, the Executive shall be employed by the Company on a full-time basis and shall perform the duties of his position and such other duties on behalf of the Company and its Affiliates, reasonably consistent with his
position, as may be designated from time to time by the Board or its designee. 
  

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 (c) During the term hereof, the Executive shall devote his full business time and his best efforts,
business judgment, skill and knowledge exclusively to the advancement of the business and interests of the Company and its Affiliates and to the discharge of his duties and responsibilities hereunder. The Executive shall not engage in any other
business activity or serve in any industry, trade, professional, governmental or academic position during the term of this Agreement, except as may be expressly approved in advance by the Board in writing. Notwithstanding the foregoing, (i)
Executive may serve as a consultant to Flarion Technologies, Inc. and any successor thereof for a period of up to 12 months from the Effective Date so long as such role does not interfere with his performance hereunder and (ii) Executive may serve
as a member of the Board of Directors of Enterasys Networks, Inc. so long as such role does not interfere with his performance hereunder. 
  
 4. Compensation and Benefits. As compensation for all services performed by the Executive under and during the term hereof and subject to
performance of the Executive’s duties and of the obligations of the Executive to the Company and its Affiliates, pursuant to this Agreement or otherwise: 
  

(a) Base Salary. The Company shall pay the Executive a base salary at the rate of Three Hundred and Fifty Thousand Dollars ($350,000) per annum,
payable in accordance with the payroll practices of the Company for its executives and subject to increase from time to time by the Board, in its sole discretion. Such base salary, as from time to time increased, is hereafter referred to as the
“Base Salary.” 
  
 (b) Incentive and Bonus
Compensation. 
  
 (i) The Executive shall be
considered annually by the Board for a bonus (the “Annual Bonus”) with a target (the “Target Bonus”) of One Hundred and Fifty Thousand Dollars ($150,000). The amount of the bonus shall be determined by the Board, based on its
assessment, in its reasonable discretion, of the Executive’s performance and that of the Company against appropriate and reasonably obtainable goals established annually by the Compensation Committee of the Board after consultation with the
Executive; which bonus, if any, shall be payable not later than two and one-half months following the end of the fiscal year during which the bonus was earned. Any bonus or incentive compensation paid to the Executive shall be in addition to the
Base Salary. 
  
 (ii) Executive shall be paid a
signing bonus in the amount of Two Hundred Thousand Dollars ($200,000), payable the first pay day following Executive’s commencement of employment with the Company, in accordance with normal payroll practices. 
  
 (c) Stock Options. In connection with the Executive’s appointment
as President and Chief Executive Officer, the Company shall grant to the Executive an option (the “Option”) to purchase 1,500,000 shares of the common stock of the Company at a price per share equal to the greater of (i) Seven Dollars
($7.00), or (ii) Fair Market Value (as defined in the Company’s Stock Option Plan, as amended from time to time (the “Plan”)). Twenty-five percent (25%) of the shares which are subject to the Option shall become exercisable on the
first 

  

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anniversary of the date of grant, provided that the Executive is still employed by the Company on such date. Thereafter, 1/36 of the unvested shares which
are subject to the Option shall become vested monthly, provided that the Executive is still employed by the Company on each such date. The stock options granted the Executive under this Agreement shall be subject to the Plan, to any applicable stock
option certificate, stock option agreement or shareholder agreement and to such other restrictions as are generally applicable to stock options issued to employees of the Company, as in effect from time to time. The grant of the Option to the
Executive is subject to the Executive signing an acknowledgment of the terms of the applicable stock option agreement and the Plan. The Executive shall not be eligible to receive any stock options, restricted stock or other equity of the Company,
whether under an equity incentive plan or otherwise, except as expressly provided in this Agreement or as otherwise expressly authorized for him individually by the Board or the Compensation Committee. 
  
 (d) Vacations. The Executive shall be entitled to three (3) weeks of
vacation per year, to be taken at such times and intervals as shall be determined by the Executive, subject to the reasonable business needs of the Company and with the approval of the Board. Vacation shall otherwise be governed by the policies of
the Company, as in effect from time to time. 
  
 (e) Other
Benefits. During the term hereof and subject to any contribution therefor generally required of employees of the Company, the Executive shall be entitled to participate in any and all employee benefit plans from time to time in effect for
employees of the Company generally, except to the extent such plans are in a category of benefit otherwise provided to the Executive (e.g., severance pay). Such participation shall be subject to the terms of the applicable plan documents and
generally applicable Company policies. 
  
 (f) Business
Expenses. The Company shall pay or reimburse the Executive for all reasonable customary business expenses incurred or paid by the Executive in the performance of his duties and responsibilities hereunder, subject to any maximum annual limit and
other restrictions on such expenses set by the Board and to such reasonable substantiation and documentation as may be specified by the Company from time to time. For up to one year following the Effective Date, the Company shall reimburse the
Executive for expenses for housing, mutually acceptable to the parties, in Virginia. 
  
 5. Termination of Employment and Severance Benefits. Notwithstanding the provisions of Section 2 hereof, the Executive’s employment hereunder shall terminate prior to the expiration of the term hereof
under the following circumstances: 
  
 (a) Death. In the
event of the Executive’s death during the term hereof, the Executive’s employment hereunder shall immediately and automatically terminate. In such event, the Company shall pay to the Executive’s designated beneficiary or, if no
beneficiary has been designated by the Executive, to his estate, (i) the Base Salary earned but not paid through the date of termination, (ii) pay for any vacation time earned but not used through the date of termination, (iii) any Annual Bonus
awarded for the year preceding that in which termination occurs but unpaid on the date of termination and (iv) any business expenses incurred by the Executive but un-reimbursed on the date of termination, provided that such expenses and required
substantiation and documentation are submitted within ninety (90) days of termination and that such expenses are reimbursable under Company policy (all of the foregoing, “Final Compensation”). The Company shall have no further obligation
to the Executive. 
  

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 (b) Disability. 
  
 (i) The Company may terminate the Executive’s employment hereunder, upon notice to the Executive, in
the event that the Executive becomes disabled during his employment hereunder through any illness, injury, accident or condition of either a physical or psychological nature and, as a result, is unable to perform substantially all of his duties and
responsibilities hereunder for one hundred and eighty (180) days during any period of three hundred and sixty-five (365) consecutive calendar days. In the event of such termination, the Company shall have no further obligation to the Executive,
other than for payment of Final Compensation and Severance Pay, as defined below. 
  
 (ii) The Board may designate another employee to act in the Executive’s place during any period of the Executive’s disability.
Notwithstanding any such designation, the Executive shall continue to receive the Base Salary in accordance with Section 4(a) and benefits in accordance with Section 4(e), to the extent permitted by the then-current terms of the applicable benefit
plans, until the Executive becomes eligible for disability income benefits under the Company’s disability income plan or until the termination of his employment, whichever shall first occur. 
  
 (iii) Subject to the next sentence, while receiving
disability income payments under the Company’s disability income plan the Executive shall not be entitled to receive any Base Salary under Section 4(a) hereof, but shall continue to participate in Company benefit plans in accordance with
Section 4(e) and the terms of such plans, until the 
 termination of his employment. In the event the disability income
payments under the Company’s disability income plan during the term hereof are less than Executive’s Base Salary, the Company shall pay to Executive, in accordance with Company’s standard payroll practices, an amount equal to
Executive’s Base Salary less the disability income payments. 
  
 (iv) If any question shall arise as to whether during any period the Executive is disabled through any illness, injury, accident or condition of either a physical or psychological nature so as to be unable to perform
substantially all of his duties and responsibilities hereunder, the Executive may, and at the request of the Company shall, submit to a medical examination by a physician selected by the Company to whom the Executive or his duly appointed guardian,
if any, has no reasonable objection to determine whether the Executive is so disabled and such determination shall for the purposes of this Agreement be conclusive of the issue. If such question shall arise and the Executive shall fail to submit to
such medical examination, the Company’s determination of the issue shall be binding on the Executive. 
  
 (c) By the Company for Cause. The Company may terminate the Executive’s employment hereunder for Cause at any time upon notice to the
Executive setting forth in 

  

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reasonable detail the nature of such Cause. The following, as determined by the Board in its reasonable judgment, shall constitute Cause for termination:

  
 (i) The Executive’s failure to perform
(other than by reason of disability), or serious negligence in the performance of, his material duties and responsibilities to the Company or any of its Affiliates; 
  
 (ii) Material breach of Section 7, 8 or 9 hereof or breach of any fiduciary duty owed to the Company or any
of its Affiliates: 
  
 (iii) Fraud or
embezzlement or other dishonesty which is material (monetarily or otherwise) with respect to the Company or any of its Affiliates; or 
  
 (iv) Indictment, conviction or plea of nolo contendere to a felony or other crime involving moral turpitude. 
  
 Upon termination of the Executive’s employment hereunder for Cause, the Company shall
have no further obligation to the Executive, other than for Final Compensation. 
  
 (d) By the Company Other than for Cause. The Company may terminate the Executive’s employment hereunder other than for Cause at any time upon notice to the Executive. In the event of such termination, in
addition to Final Compensation, the Company shall provide the Executive severance pay equal to the sum of the Base Salary at the rate in effect on the date of termination and the Target Bonus (“Severance Pay”), payable in approximately
equal installments at the Company’s regular paydays for its executives during the period from the date of termination through the one-year anniversary thereof; provided, however, that if required pursuant to Section 409A of the Internal Revenue
Code of 1986, as amended (“Section 409A”), the timing of such payments shall be adjusted as necessary to comply with Section 409A. In addition, on the date of termination, the Company will cause to become vested that portion of the Option
which would have vested by passage of time during the period from the date of termination through the one-year anniversary thereof, had the Executive remained in the employ of the Company during that period (the “Accelerated Shares”). Any
obligation of the Company to the Executive hereunder is conditioned, however, on the Executive signing a timely and effective release of claims in the form attached hereto as Attachment A (the “Employee Release”). The first
installment of the Severance Pay shall be due and payable at the Company’s next regular payday which is at least five business days following the later of the effective date of the Employee Release or the date the Employee Release, signed by
the Executive, is received by the Company, but shall be retroactive to the next business day following the date of termination; provided, however, that if required by Section 409A, the first installment of the Severance Pay shall be due and payable
at the Company’s first regular payday as permitted pursuant to Section 409A. Also, although vested on the date of termination, the Accelerated Shares shall not be exercisable until the later of the effective date of the Employee Release or the
date the Employee Release, signed by the Executive, is received by the Company. 
  
 (e) By the Executive for Good Reason. The Executive may terminate his employment hereunder for Good Reason, upon notice to the Company setting forth in reasonable 
  
  

 -5- 

 detail the nature of such Good Reason. The following shall constitute Good Reason for termination by the Executive:

  
 (i) Failure of the Company to continue the
Executive in the position, and with the title of Chief Executive Officer of the Company; provided, however, that the Company’s failure to continue the Executive’s appointment or election as a director or officer of any of its Affiliates or
a change in reporting relationships resulting from the direct or indirect control of the Company (or a successor corporation) by another corporation shall not constitute “Good Reason;” and 
  
 (ii) Failure of the Company to provide the Executive cash
compensation and benefits in accordance with the terms of Section 4 hereof, excluding any failure which is cured within ten (10) business days following notice from the Executive specifying in detail the nature of such failure. 
  
 In the event of termination in accordance with this Section 5(e), the Executive will be
entitled to the same Severance Pay and Accelerated Shares he would have been entitled to receive had the Executive been terminated by the Company other than for Cause in accordance with Section 5(d) above; provided that the Executive satisfies all
conditions to such entitlement, including without limitation the signing of a timely and effective Employee Release. 
  
 (f) By the Executive Other than for Good Reason. The Executive may terminate his employment hereunder at any time other than for Good Reason upon
sixty (60) days’ notice to the Company; provided, however, that the Company may elect to waive all or any portion of such notice, in which event the Company will pay the Executive the Base Salary for any portion of the first sixty (60) days of
such notice waived. The Company shall have no further obligation to the Executive, other than for any Final Compensation due to him. 
  
 (g) Upon a Change of Control. If a Change of Control occurs, any and all outstanding options granted to the executive under this Agreement that
have not yet become vested and exercisable shall, without any further action by the Company, the Board of Directors or the Compensation Committee, accelerate and become vested and exercisable six (6) months following the date of such Change of
Control provided that the Executive remains employed by the Company during such six (6) month period. If the Executive’s employment is earlier terminated during such six (6) month period without Cause following a Change of Control, all
outstanding unvested options granted under this Agreement shall immediately vest and become exercisable upon termination. 
  
 For the purposes of this Agreement, Change of Control shall mean (i) the sale or transfer of all or substantially all of the Company’s assets, (ii) a
reorganization, recapitalization, consolidation or merger where the voting securities of the Company outstanding immediately preceding such transaction, or the voting securities issued in exchange for or with respect to the voting securities of the
Company outstanding immediately preceding such transaction, represent 50% or less of the voting power of the surviving entity following the transaction, or (iii) a transaction or series of related transactions which results in the acquisition of
more than 50% of the Company’s outstanding voting power by a single person or entity or by a group of persons 

  

 -6- 

 
and/or entities acting in concert; provided, that a transaction principally for the purpose of reorganizing the Company into a holding company structure or
reincorporating the Company in another jurisdiction shall not constitute a “Change of Control.” Notwithstanding the foregoing, to the extent necessary to comply with Section 409A, in the case of any payment under this Agreement that in the
determination of the Company would be considered “nonqualified deferred compensation” subject to Section 409A and as to which, in the determination of the Company, the requirements of Section 409A(a)(2)(A)(v) would apply, an event or
occurrence described above shall be considered a “Change of Control” only if it also constitutes a change in ownership or effective control of the Company, or a change in ownership of the Company’s assets, described in Section
409A(a)(2)(A)(v). 
  
 6. Effect of Termination. The
provisions of this Section 6 shall apply to any termination, whether due to the expiration of the term hereof, pursuant to Section 5 or otherwise. 
  
 (a) Payment by the Company of any amounts that may be due the Executive in each case under the applicable termination provision of Section 5 shall
constitute the entire obligation of the Company to the Executive. 
  
 (b) Except for any right to continue participation in the Company’s group health or dental plan at the Executive’s cost under COBRA or other applicable law, the Executive’s participation in Company benefits shall terminate
pursuant to the terms of the applicable benefit plans based on the date of termination of the Executive’s employment, without regard to any continuation of Base Salary or other payment to the Executive following such date of termination.

  
 (c) Provisions of this Agreement shall survive any termination
if so provided herein or if necessary or desirable to accomplish the purposes of other surviving provisions, including without limitation the obligations of the Executive under Sections 7, 8 and 9 hereof. The obligations of the Company under
Sections 5(d), 5(e), 5(f) and 5(g) hereof are expressly conditioned upon the Executive’s continued full performance of obligations under Sections 7, 8 and 9 hereof. The Executive recognizes that, except as expressly provided in Section 5(d) or
5(e) or 5(f), no compensation is earned after termination of employment. 
  
 7. Confidential Information. 
  
 (a) The Executive acknowledges that the Company and its Affiliates continually develop Confidential Information; that the Executive may develop Confidential Information for the Company and its Affiliates; and that the Executive may learn of
Confidential Information during the course of employment. The Executive will comply with the policies and procedures of the Company and its Affiliates for protecting Confidential Information and shall not disclose to any Person or use, other than as
required by applicable law or for the proper performance of his duties and responsibilities to the Company and its Affiliates, any Confidential Information obtained by the Executive incident to his employment or other association with the Company or
any of its Affiliates. The Executive understands that this restriction shall continue to apply after his employment terminates, regardless of the reason for such termination, for a period of three (3) years. Further, the Executive agrees to provide
prompt notice to the Company 

  

 -7- 

 
of any required disclosure of Confidential Information sought pursuant to subpoena, court order or any other legal requirement and to provide the Company a
reasonable opportunity to seek protection of the Confidential Information prior to any such disclosure. 
  
 (b) All documents, records, tapes and other media of every kind and description relating to the business, present or otherwise, of the Company or any of
its Affiliates and any copies, in whole or in part, thereof (the “Documents”), whether or not prepared by the Executive, shall be the sole and exclusive property of the Company and its Affiliates. The Executive shall safeguard all
Documents and shall surrender to the Company at the time his employment terminates, or at such earlier time or times as the Board or its designee may specify, all Documents then in the Executive’s possession or control. 
  
 8. Assignment of Rights to Intellectual Property. The Executive agrees
to maintain accurate and complete contemporaneous records of, and shall immediately and fully disclose and deliver to the Company, all Intellectual Property, as defined below. The Executive hereby assigns and agrees to assign to the Company (or as
otherwise directed by the Company) his full right, title and interest in and to all Intellectual Property. The Executive agrees to execute any and all applications for domestic and foreign patents, copyrights and other proprietary rights and do such
other acts (including, among others, the execution and delivery of instruments of further assurance or confirmation) requested by the Company to assign the Intellectual Property to the Company and to permit the Company to enforce any patents,
copyrights and other proprietary rights in the Intellectual Property. The Executive will not charge the Company for time spent in complying with these obligations. All copyrightable works that the Executive creates shall be considered “work
made for hire” and shall, upon creation, be owned exclusively by the Company. 
  
 9. Restricted Activities. The Executive agrees that some restrictions on his activities during and after his employment are necessary to protect the goodwill, Confidential Information and other legitimate
interests of the Company and its Affiliates: 
  
 (a) While the
Executive is employed by the Company and for the twelve months immediately following termination of his employment (in the aggregate, the “Non-Competition Period”), the Executive shall not, directly or indirectly, whether as owner,
partner, investor, consultant, agent, employee, co-venturer or otherwise, compete with the Company or any of its Serviced Affiliates within any area of the United States covered by the Company’s spectrum licenses (the “Restricted
Area”). Specifically, the Executive agrees not to engage in any manner in any activity that is directly competitive with the business of the Company or any of its Serviced Affiliates as conducted at the time of Executive’s departure from
the Company. For the purposes of this Section 9, the business of the Company and its Serviced Affiliates shall include the provision of fixed broadband wireless services for mobile backhaul, bypass and fiber extensions in the United States.
For purposes of this Agreement, “Serviced Affiliates” means those Affiliates of the Company for which the Executive has provided services or as to which he has had access to Confidential Information. 
  
 (b) The Executive agrees that, except as set forth in Section 3(c) hereof,
during his employment with the Company, he will not undertake any outside activity, whether or 

  

 -8- 

 
not competitive with the business of the Company or its Subsidiaries, that could reasonably give rise to a conflict of interest or otherwise interfere with
his duties and obligations to the Company or any of its Affiliates. 
  
 (c) The Executive further agrees that during the Non-Competition Period, the Executive will not hire or attempt to hire any employee of the Company or any of its Serviced Affiliates, assist in such hiring by any person, or encourage any
such employee to terminate his or her relationship with the Company or any of its Serviced Affiliates; provided, however, that the foregoing will not apply to any employee that has terminated his or her employment relationship with the Company or
any of its Serviced Affiliates, as applicable, at least six months prior to the date on which the Executive’s employment relationship with the Company is terminated. The Executive further agrees that during the Non-Competition Period, the
Executive will not solicit any customer or vendor of the Company or any of its Serviced Affiliates to terminate or diminish its relationship with them, or, in the case of a customer, to conduct with any Person any business or activity which such
customer conducts immediately prior to Executive’s departure with the Company or any of its Serviced Affiliates. 
  
 10. Enforcement of Covenants. The Executive acknowledges that he has carefully read and considered all the terms and conditions of this Agreement,
including the restraints imposed upon him pursuant to Sections 7, 8 and 9 hereof. The Executive agrees that those restraints are necessary for the reasonable and proper protection of the Company and its Affiliates and that each and every one of the
restraints is reasonable in respect to subject matter, length of time and geographic area. The Executive further acknowledges that, were he to breach any of the covenants contained in Sections 7, 8 or 9 hereof, the damage to the Company would be
irreparable. The Executive therefore agrees that the Company, in addition to any other remedies available to it, shall be entitled to preliminary and permanent injunctive relief against any breach or threatened breach by the Executive of any of said
covenants, without having to post bond. The parties further agree that, in the event that any provision of Section 7, 8 or 9 hereof shall be determined by a court of competent jurisdiction to be unenforceable by reason of its being extended over too
great a time, too large a geographic area or too great a range of activities, such provision shall be deemed to be modified to permit its enforcement to the maximum extent permitted by law. 
  
 11. Conflicting Agreements. The Executive hereby represents and
warrants that the execution of this Agreement and the performance of his obligations hereunder will not breach or be in conflict with any other agreement to which the Executive is a party or is bound and that the Executive is not now subject to any
covenants against competition or similar covenants or any court order or other legal obligation that would affect the performance of his obligations hereunder. The Executive will not disclose to or use on behalf of the Company any proprietary
information of a third party without such party’s consent. 
  

 -9- 

 12. Definitions. Words or phrases which are initially capitalized or are within quotation marks
shall have the meanings provided in this Section and as provided elsewhere herein. For purposes of this Agreement, the following definitions apply: 
  
 (a) “Affiliates” means (i) all subsidiaries of the Company, and (ii) any Person holding all or substantially all of the voting power of the
Company. 
  
 (b) “Confidential Information” means any
and all information of the Company and its Affiliates that is not generally known by Persons with whom they compete or do business, or with whom any of them plans to compete or do business and any and all information, publicly known in whole or in
part or not, which, if disclosed by the Company or and of its Affiliates would assist in competition against them. Confidential Information includes without limitation such information relating to (i) the development, research, testing,
manufacturing, marketing and financial activities of the Company and its Affiliates, (ii) their products and services, (iii) the costs, sources of supply, financial performance and strategic plans of the Company and its Affiliates, (iv) the identity
and special needs of the customers of the Company and its Affiliates and (v) the people and organizations with whom the Company and its Affiliates have business relationships and the nature and substance of those relationships. Confidential
Information also includes any information that the Company or any of its Affiliates has received, or may receive hereafter, belonging to customers or others with any understanding, express or implied, that the information would not be disclosed.

  
 (c) “Intellectual Property” means any invention,
formula, process, discovery, development, design, innovation or improvement (whether or not patentable or registrable under copyright statutes) made, conceived, or first actually reduced to practice by the Executive solely or jointly with others,
during his employment by the Company; provided, however, that, as used in this Agreement, the term “Intellectual Property” shall not apply to any invention that the Executive develops on his own time, without using the equipment, supplies,
facilities or trade secret information of the Company, unless such invention relates at the time of conception or reduction to practice of the invention (a) to the business of the Company, (b) to the actual or demonstrably anticipated research or
development of the Company or (c) results from any work performed by the Executive for the Company. 
  
 (d) “Person” means an individual, a corporation, a limited liability company, an association, a partnership, an estate, a trust and any other
entity or organization, other than the Company or any of its Affiliates. 
  
 14. Withholding. All payments made by the Company under this Agreement shall be reduced by any tax or other amounts required to be withheld by the Company under applicable law. 
  
 15. Assignment. Neither the Company nor the Executive may make any
assignment of this Agreement or any interest herein, by operation of law or otherwise, without the prior written consent of the other; provided, however, that the Company may assign its rights and obligations under this Agreement without the consent
of the Executive in the event that the Company shall hereafter affect a reorganization, consolidate with, or merge into, any Person or 

  

 -10- 

 
transfer all or substantially all of its properties or assets to any Person. This Agreement shall inure to the benefit of and be binding upon the Company and
the Executive, their respective successors, executors, administrators, heirs and permitted assigns. 
  
 16. Severability. If any portion or provision of this Agreement shall to any extent be declared illegal or unenforceable by a court of competent
jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and
provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 
  
 17. Waiver. No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of either
party to require the performance of any term or obligation of this Agreement, or the waiver by either party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any
subsequent breach. 
  
 18. Notices. Any and all notices,
requests, demands and other communications provided for by this Agreement shall be in writing and shall be effective when delivered in person, consigned to a reputable national delivery service or deposited in the United States mail, postage
prepaid, registered or certified, and addressed to the Executive at his last known address on the books of the Company or, in the case of the Company, at its principal place of business, attention of the Chair of the Board, or to such other address
as either party may specify by notice to the other actually received. 
  
 19. Entire Agreement. This Agreement constitutes the entire agreement between the parties and supersedes all prior communications, agreements and understandings, written or oral, with respect to the terms and conditions of the
Executive’s employment. 
  
 20. Amendment. This
Agreement may be amended or modified only by a written instrument signed by the Executive and by an expressly authorized representative of the Company. 
  
 21. Headings. The headings and captions in this Agreement are for convenience only and in no way define or describe the scope or content of any
provision of this Agreement. 
  
 22. Counterparts. This
Agreement may be executed in two or more counterparts, each of which shall be an original and all of which together shall constitute one and the same instrument. 
  
 23. Governing Law. This is a Delaware contract and shall be construed and enforced under and be governed in all
respects by the laws of the Delaware, without regard to the conflict of laws principles thereof. 
  
 24. Consent to Jurisdiction. Each of the parties agrees that all actions, suits or proceedings arising out of or based upon this Agreement or the
subject matter hereof shall be brought and maintained in any state or federal court in or of the State of Delaware; provided, 

  

 -11- 

 
however, that the Company also may bring any such action, suit or proceeding against the Executive in any other jurisdiction in which the Executive is
subject to personal jurisdiction. Each of the parties hereto by execution hereof (i) hereby irrevocably submits to such jurisdiction for the purpose of any action, suit or proceeding arising out of or based upon this Agreement or the subject matter
hereof and (ii) hereby waives to the extent not prohibited by applicable law, and agrees not to assert, by way of motion, as a defense or otherwise, in any such action, suit or proceeding, any claim that he or it is not subject personally to the
jurisdiction of the above-named courts; that he or it is immune from extraterritorial injunctive relief or other injunctive relief; that his or its property is exempt or immune from attachment or execution; that any such action, suit or proceeding
may not be brought or maintained in one of the above-named courts; that any such action, suit or proceeding brought or maintained in one of the above-named courts should be dismissed on grounds of forum non conveniens, should be transferred
to any court other than one of the above-named courts, should be stayed by virtue of the pendency of any other action, suit or proceeding in any court other than one of the above-named courts, or that this Agreement or the subject matter hereof may
not be enforced in or by any of the above-named courts. Each of the parties hereto hereby consents to service of process in any such suit, action or proceeding in any manner permitted by the laws of the State of Delaware or such other jurisdiction
in which the Company may bring an action hereunder; agrees that service of process by registered or certified mail, return receipt requested, at the address specified in or pursuant to Section 18 is reasonably calculated to give actual notice; and
waives and agrees not to assert by way of motion, as a defense or otherwise, in any such action, suit or proceeding any claim that service of process made in accordance with Section 18 does not constitute good and sufficient service of process. The
provisions of this Section 24 shall not restrict the ability of any party to enforce in any court any judgment obtained in a federal or state court of the State of Delaware. 
  
 [Signature page immediately follows.] 
  

 -12- 

 IN WITNESS WHEREOF, this Agreement has been executed as a sealed instrument by the Company, by its duly
authorized representative, and by the Executive, as of the date first above written. 
  

					
	THE EXECUTIVE:	  	FIRST AVENUE NETWORKS, INC.
			
	 /s/ Michael Gallagher

	  	By:	 	 /s/ Richard L. Shorten, Jr.

	Michael Gallagher	  	 	 	Richard L. Shorten, Jr.
	 	  	 	 	Chairman

  

 -13-

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