Document:

Exhibit 10.2

                              EMPLOYMENT AGREEMENT

                                     PARTIES

     This Employment Agreement (this "Agreement") dated as of July 17, 2001 is
entered into by and between Telaxis Communications Corporation, a Massachusetts
corporation having its principal place of business at 20 Industrial Drive East,
South Deerfield, Massachusetts 01373 (the "Company") and Stephen Ward, an
individual with an address at 115 West 3rd Street, Frederick, Maryland 21701
(hereinafter called "Employee").

                               TERMS OF AGREEMENT

     In consideration of this Agreement and the continued employment of the
Employee by the Company, the parties agree as follows:

     1. Employment. The Company hereby employs Employee, on a full-time basis,
to act as Executive Vice President, Sales and Marketing of the Company at the
principal place of business of the Company shown above during the Employment
Period and to perform such acts and duties and furnish such services to the
Company in connection with and related to that position as is customary for
persons with similar positions in like companies, as the Company's Board of
Directors shall from time to time reasonably direct. Employee hereby accepts
said employment. Employee shall use his best and most diligent efforts to
promote the interests of the Company; shall discharge his duties to the best of
his ability; and shall devote his full business time and his best business
judgment, skill and knowledge to the performance of his duties and
responsibilities hereunder. Employee shall report to the Chief Executive
Officer/President of the Company.

     2. Employment Period. The period of Employee's employment under this
Agreement shall commence on the date of this Agreement and shall continue for a
period of twenty-four (24) months thereafter. At the end of the initial
twenty-four (24) month period and any extension period thereafter, the period of
Employee's employment under this Agreement, in the absence of any other express
agreement between the parties, shall automatically be extended for an additional
period of three (3) months. The employment period described above is subject to
earlier termination pursuant to Section 3.6, 4 or 5. The period of Employee's
employment under this Agreement (including all quarterly extension periods) is
referred to as the "Employment Period."

     3. Compensation and Benefits; Disability.

     3.1 Salary. During the Employment Period, the Company shall pay Employee a
salary at an annualized rate equal to $225,004.00 payable in equal installments
pursuant to the Company's customary payroll policies in force at the time of
payment (but in no event less frequently than monthly), less required payroll
deductions. The Employee's salary may be adjusted upward from time to time in
the sole discretion of the Board of Directors of the Company, except that the
Employee, if a Director, shall not be entitled to vote thereon.

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     3.2 Discretionary Bonus. During the Employment Period, the Employee may
participate in such bonus plan or plans of the Company as the Board of
Directors, acting through its Compensation Committee, may approve for the
Employee. Nothing contained in this Section 3.2 shall be construed to require
the Board of Directors to approve a bonus plan or in any way grant to Employee
the right to receive bonuses not otherwise approved.

     3.3 Company Automobile Allowance. During the Employment Period, the Company
shall provide Employee with an automobile allowance at an annualized rate not
less than $7,800 payable in equal installments pursuant to the Company's
customary payroll policies in force at the time of payment (but in no event less
frequently than monthly), less required payroll deductions.

     3.4 Insurance Benefits. During the Employment Period, the Employee shall
receive such health insurance, disability insurance, life insurance and other
benefits as customarily provided to other officers and management employees of
the Company.

     3.5 Vacation. Employee may take four (4) weeks of paid vacation during each
year at such times as shall be consistent with the Company's vacation policies
and (in the Company's judgment) with the Company's vacation schedule for
officers and other management employees. Employee shall also be entitled to paid
legal and religious holidays, sick days, and personal days in accordance with
the Company's normal policies in effect from time to time.

     3.6 Disability. If during the Employment Period, Employee shall become ill,
disabled or otherwise incapacitated so as to be unable to perform his usual
duties (a) for a period in excess of one hundred twenty (120) consecutive days
or (b) for more than one hundred eighty (180) days in any consecutive twelve
(12) month period, then the Company shall have the right to terminate Employee's
employment under this Agreement, subject only to applicable laws, on thirty (30)
days' written notice to Employee. Termination pursuant to this Section 3.6 shall
not affect any rights Employee may otherwise have under any disability insurance
policies in effect at the time of such termination.

     3.7 Severance Pay.

     3.7.1 Termination By Company. In the event the Company terminates
Employee's employment under this Agreement pursuant to Section 5, the Company
shall provide to Employee, in exchange for a release as to any and all claims
Employee may have against the Company, the Severance Benefits for (a) a twelve
(12) month period after termination if termination shall occur (i) at any time
prior to any Change in Control, (ii) after any Approved Change in Control, or
(iii) more than one (1) year after an Unapproved Change in Control, or (b) a
twenty-four (24) month period after termination if termination shall occur
within one (1) year after an Unapproved Change in Control.

     3.7.2 Termination by Employee For Good Reason. After a Change in Control
and provided Employee has Good Reason, Employee may terminate his employment
under this Agreement upon fifteen (15) days written notice to the Company and
the Company shall provide to Employee, in exchange for a release as to any and
all claims Employee may have against the

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Company, the Severance Benefits for (a) a twelve (12) month period after
termination if termination shall occur within one (1) year after an Unapproved
Change in Control or (b) an initial six (6) month period, and thereafter until
the earlier to occur of the end of one (1) additional six (6) month period or
Employee obtaining regular employment or consulting work, if termination shall
occur (i) after any Approved Change of Control or (ii) more than one (1) year
after an Unapproved Change in Control.

     3.7.3 Definitions. For purposes of this Section 3.7,

          (a) a "Change in Control" shall mean:

             (i) The completion of a merger or consolidation of the Company with
any other entity (other than a merger or consolidation in which the Company is
the surviving entity and is owned at least 50% collectively by persons who were
stockholders of the Company before the transaction), the sale of substantially
all of the Company's assets to another entity, the sale of more than 50% of the
outstanding capital stock of the Company to an unrelated person or group of
persons acting collectively in one or a series of transactions, or any change in
"control" [as defined in Rule 12b-2 adopted under the Securities Exchange Act of
1934, as amended (the "Exchange Act")] of the Company which would be required to
be reported under either Section 13 or 14 of the Exchange Act whether or not the
Company is then subject to said Act, including a change whereby

                 (A) any "person" [as such term is used in Sections 13(d) and
14(d) of the Exchange Act] becomes a "beneficial owner" (as defined in Rule
13d-adopted under the Exchange Act) of securities of the Company representing
50% or more of the combined voting power of the Company's then outstanding
securities; or

                 (B) there ceases to be a majority of the Board of Directors
comprised of individuals described in subsection (iv) below.

             (ii) An "Approved Change in Control" of the Company shall mean a
Change in Control that is approved by at least a majority of the Company's Board
of Directors.

             (iii) An "Unapproved Change in Control" of the Company shall mean
any Change in Control that is not an Approved Change of Control.

             (iv) For the purposes of Sections 3.7.3(a)(i) and (ii), "Board of
Directors" shall mean: (i) individuals who, on the date hereof, constituted the
Board of the Company, and (ii) any successors to those directors whose
nomination for election or election was approved by a majority of the directors
in office at the time of such nomination or election.

         (b) "Good Reason" shall mean the occurrence after a Change in Control
of any of the following circumstances without the Employee's written consent
unless, in the case of paragraphs (A), (B), (C) or (H), such circumstances
constitute an isolated, insubstantial and inadvertent action not taken in bad
faith and which are fully remedied by the Company prior to the Employee's last
day of employment:

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                 (A) the assignment to the Employee of any duties inconsistent
with the highest position in the Company that the Employee held at any time
during the 90-day period immediately preceding the Change in Control of the
Company, or a significant adverse alteration in the nature or status of the
Employee's responsibilities or the conditions of the Employee's employment from
those in effect at any time during the 90-day period immediately preceding such
Change in Control;

                 (B) any violation of Section 1 or Section 3.1 through 3.5 of
this Agreement;

                 (C) the failure by the Company to provide the Employee with the
greatest number of vacation days to which the Employee is entitled in accordance
with the Company's normal vacation policy in effect at any time during the
90-day period immediately preceding the Change in Control;

                 (D) any requirement by the Company or of any person in control
of the Company that the location at which the Employee perform the Employee's
principal duties for the Company be (1) outside a radius of 50 miles from the
location at which the Employee performed such duties immediately prior to the
Change in Control, or (2) more than 25 miles in commuting distance further than
the Employee's commuting distance to the location at which the Employee
performed such duties immediately prior to the Change in Control;

                 (E) the failure by the Company to pay to the Employee any
portion of the Employee's current compensation within seven (7) days after such
compensation is due;

                 (F) any requirement by the Company or any person in control of
the Company that the Employee travel on an overnight basis to an extent not
substantially consistent with the Employee's business travel obligations
immediately prior to the Change in Control;

                 (G) the failure of the Company to obtain a satisfactory
agreement from any successor to assume and agree to perform the Agreement, as
contemplated in Section 9.3; or

                 (H) any purported termination of the Employee's employment
which is not effected pursuant to the requirements of Section 5 and 8, which
purported termination shall not be effective for purposes of this Agreement.

     The Employee's continued employment shall not constitute consent to, or a
waiver of rights with respect to, any circumstance constituting Good Reason
hereunder.

     For purposes of this Section 3.7.3(b), any good faith determination of
"Good Reason" made by the Employee shall be conclusive.

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         (c) "Severance Benefits" shall mean (i) Employee's base salary at the
highest level in effect during the 90-day period immediately preceding the date
of termination, payable in equal installments pursuant to the Company's
customary payroll policies in force at the time of payment (but in no event less
frequently than monthly), less required payroll deductions and (ii) the
continuation of all health, welfare and other fringe benefits (other than the
Company automobile allowance) which are provided to Employee pursuant to this
Agreement on the date of termination except to the extent the continuation of
any such benefits is not permitted by applicable law or the terms of any benefit
documentation (provided, however, if the continuation of medical/health
insurance, dental insurance, disability insurance, and/or life insurance is not
permitted, the Company shall pay Employee, at the beginning of the period during
which he is entitled to receive Severance Benefits, an amount equal to the
amount the Company would have had to pay to provide those insurances to Employee
if Employee had remained an employee of the Company for the period during which
he is entitled to receive Severance Benefits under this Agreement).
Notwithstanding the foregoing, if Employee begins regular employment or
consulting work prior to the end of the period during which he is entitled to
receive Severance Benefits from the Company under this Agreement, the amount
Employee shall be entitled to receive pursuant to clause (i) of this definition
of "Severance Benefits" shall be reduced to the amount, if any, by which
Employee's base salary described in clause (i) above exceeds Employee's base
salary from his new regular employment or consulting work. Employee agrees to
notify the Company if he begins regular employment or consulting work prior to
the end of the period during which he is entitled to receive Severance Benefits
from the Company under this Agreement.

     4. Discharge for Cause. The Company may discharge Employee and terminate
his employment under this Agreement for cause without further liability to the
Company by a majority vote of the Board of Directors of the Company except that
the Employee, if a Director, shall not be entitled to vote thereon. As used in
this Section 4, "cause" shall mean any or all of the following:

         (a) gross or willful misconduct of Employee during the course of his
employment;

         (b) conviction of a fraud or felony or any criminal offense involving
dishonesty, breach of trust or moral turpitude during the Employment Period; or

         (c) Employee's breach of any of the material terms of this Agreement
which, if curable, is not cured within thirty (30) days of written notice to the
Employee.

     5. Termination Without Cause. Upon thirty (30) days prior written notice,
the Company may terminate Employee's employment under this Agreement without
cause without further liability to the Company (except as set forth in Section
3.7 above) by a majority vote of the Board of Directors of the Company except
that the Employee, if a Director, shall not be entitled to vote thereon.

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     6. Expenses. Pursuant to the Company's customary policies in force at the
time of payment, Employee shall be promptly reimbursed, against presentation of
vouchers or receipts therefor, for all authorized expenses properly incurred by
him on the Company's behalf in the performance of his duties hereunder.

     7. Additional Agreements. Upon execution of this Agreement, the Employee
shall execute and deliver to the Company, unless previously delivered, a
Confidential and Proprietary Information Agreement (the "Proprietary Agreement")
and an Agreement Not to Compete (the "Noncompetition Agreement") in the standard
forms signed by other management employees of the Company.

     8. Notices. Any notice or communication given by any party hereto to the
other party or parties shall be in writing and personally delivered or mailed by
certified mail, return receipt requested, postage prepaid, to the addresses
provided above. All notices shall be deemed given when actually received. Any
person entitled to receive notice (or a copy thereof) may designate in writing,
by notice to the other, such other address to which notices to such person shall
thereafter be sent.

     9. Miscellaneous.

     9.1 Entire Agreement. This Agreement contains the entire understanding of
the parties in respect of its subject matter and supersedes all prior agreements
and understandings between the parties with respect to such subject matter;
provided, however that nothing in this Agreement shall affect the Employee's
obligations under the Proprietary Agreement and Noncompetition Agreement.

     9.2 Amendment; Waiver. This Agreement may not be amended, supplemented,
cancelled or discharged, except by written instrument executed by the party
affected thereby. No failure to exercise, and no delay in exercising, any right,
power or privilege hereunder shall operate as a waiver thereof. No waiver of any
breach of any provision of this Agreement shall be deemed to be a waiver of any
preceding or succeeding breach of the same or any other provision.

     9.3 Binding Effect, Assignment. Employee's rights or obligations under this
Agreement may not be assigned by Employee; except that Employee's right to
compensation to the earlier of date of death or termination of actual employment
shall pass to Employee's executor or administrator. The rights and obligations
of this Agreement shall bind and inure to the benefit of the Company and its
successors and assigns. The Company will require any successor (whether direct
or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Company to assume
expressly and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform it if no such successor had
taken place. As used in this Agreement, "Company" shall mean the Company as
hereinbefore defined and any successor to its business and/or assets as
aforesaid which assumes and agrees to perform this Agreement by operation of
law, or otherwise.

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     9.4 Headings. The headings contained in this Agreement are for reference
purposes only and shall not affect the meaning or interpretation of this
Agreement.

     9.5 Governing Law; Interpretation. This Agreement shall be construed in
accordance with and governed for all purposes by the laws and public policy of
the Commonwealth of Massachusetts applicable to contracts executed and to be
wholly performed within such Commonwealth. Service of process in any dispute
shall be effective (a) upon the Company, if service is made on any officer of
the Company other than the Employee; or (b) upon the Employee, if served at
Employee's residence last known to the Company with an information copy to the
Employee at any other residence, or care of a subsequent employer, of which the
Company may be aware.

     9.6 Further Assurances. Each of the parties agrees to execute, acknowledge,
deliver and perform, or cause to be executed, acknowledged, delivered and
performed, at any time, or from time to time, as the case may be, all such
further acts, deeds, assignments, transfers, conveyances, powers of attorney and
assurances as may be necessary or proper to carry out the provisions or intent
of this Agreement.

     9.7 Severability. If any one or more of the terms, provisions, covenants or
restrictions of this Agreement shall be determined by a court of competent
jurisdiction to be invalid, void or unenforceable, the remainder of the terms,
provisions, covenants and restrictions of this Agreement shall remain in full
force and effect and shall in no way be affected, impaired or invalidated. If,
moreover, any one or more of the provisions contained in this Agreement shall
for any reason be determined by a court of competent jurisdiction to be
excessively broad as to duration, geographical scope, activity or subject, it
shall be construed, by limiting or reducing it, so as to be enforceable to the
extent compatible with then applicable law.

                                    EXECUTION

     The parties executed this Agreement as a sealed instrument as of the date
first above written, whereupon it became binding in accordance with its terms.

                                    TELAXIS COMMUNICATIONS CORPORATION

                                    By:
                                        ---------------------------------------
                                        Name:  John L. Youngblood
                                        Title:  President and CEO

                                        ---------------------------------------
                                        Name:  Stephen Ward

                                       7Exhibit 10.3

                            INDEMNIFICATION AGREEMENT

     This Indemnification Agreement (this "Agreement") is made as of July 17,
2001 by and between Telaxis Communications Corporation, a Massachusetts
corporation (the "Corporation"), and Stephen Ward ("Indemnitee"), a director or
officer of the Corporation.

     WHEREAS, it is essential to the Corporation to retain and attract as
directors and officers the most capable persons available, and

     WHEREAS, the substantial increase in corporate litigation subjects
directors and officers to expensive litigation risks, and

     WHEREAS, the Restated Articles of Organization and the Amended and Restated
By-laws of the Corporation permit the Corporation to indemnify its officers and
directors to the fullest extent permitted by law and Indemnitee has been serving
and continues to serve as a director or officer of the Corporation in part on
reliance on such Articles and such By-laws, and

     WHEREAS, in recognition of Indemnitee's need for substantial protection
against personal liability in order to enhance Indemnitee's continued service to
the Corporation in an effective manner and Indemnitee's reliance on the
aforesaid Articles and By-laws, and in part to provide Indemnitee with specific
contractual assurance that the protection promised by such Articles and such
By-laws will be available to Indemnitee (regardless of, among other things, any
amendment to or revocation of such Articles or such By-laws or any change in the
composition of the Corporation's Board of Directors or any acquisition
transaction relating to the Corporation), the Corporation wishes to provide in
this Agreement for indemnification of and the advancing expenses to Indemnitee
to the fullest extent (whether partial or complete) permitted by law and as set
forth in this Agreement, and, to the extent insurance is maintained, for the
continued coverage of Indemnitee under the Corporation's directors' and
officers' liability insurance policies;

     NOW THEREFORE, the Corporation and Indemnitee do hereby agree as follows:

     1. Agreement to Serve. Indemnitee agrees to serve or continue to serve as a
director or officer of the Corporation for so long as he is duly elected or
appointed or until such time as he tenders his resignation in writing.

     2. Definitions. As used in this Agreement:

          (a) The term "Proceeding" shall include any threatened, pending or
completed action, suit, or proceeding, whether brought by or in the right of the
Corporation or otherwise and whether of a civil, criminal, administrative or
investigative nature, and any appeal therefrom.

          (b) The term "Corporate Status" shall mean the status of a person who
is or was a director, officer, agent or consultant of or to the Corporation, or
is or was serving or has agreed to serve, at the request of the Corporation, as
a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise.

<PAGE>

          (c) The term "Expenses" shall include, without limitation, all
reasonably incurred attorneys' fees, retainers, court costs, transcript costs,
fees of experts, travel expenses, duplicating costs, printing and binding costs,
telephone and facsimile charges, postage and overnight delivery service fees and
other disbursements or expenses of the types customarily incurred in connection
with investigations, judicial or administrative proceedings or appeals, but
shall not include the amount of judgments, fines or penalties against Indemnitee
or amounts paid in settlement in connection with such matters.

          (d) References to "other enterprise" shall include employee benefit
plans; references to "fines" shall include any excise tax assessed with respect
to any employee benefit plan; references to "serving at the request of the
Corporation" shall include any service as a director, officer, employee or agent
of the Corporation which imposes duties on, or involves services by, such
director, officer, employee, or agent in any capacity with respect to an
employee benefit plan, its participants, or beneficiaries; and a person who
acted in good faith in the reasonable belief that his action was in the best
interest of the participant or beneficiaries of an employee benefit plan shall
be deemed to have acted in good faith in the reasonable belief that his action
was in the best interest of the "Corporation" as referred to in this Agreement.

          (e) The term "Indemnified Costs" shall mean all Expenses and any and
all costs, liabilities, obligations, losses, damages, claims, actions,
judgments, fines, penalties, and amounts paid in settlement.

     3. Indemnification In Third-Party Proceedings. The Corporation shall
indemnify Indemnitee, and hold Indemnitee harmless, in accordance with the
provisions of this Paragraph 3 from and against any and all Indemnified Costs
which may be imposed on, incurred by or asserted against Indemnitee at any time
as a result of or in connection with Indemnitee being a party to or threatened
to be made a party to or otherwise involved in any Proceeding (other than a
Proceeding by or in the right of the Corporation to procure a judgment in its
favor) by reason of his Corporate Status or by reason of any action alleged to
have been taken or omitted by Indemnitee or any other person or entity in
connection therewith; except that no indemnification shall be made under this
Paragraph 3 with respect to any matter as to which Indemnitee shall have been
adjudicated in any Proceeding not to have acted in good faith in the reasonable
belief that his action was in the best interest of the Corporation. The
termination of any Proceeding by judgment, order, settlement, conviction or upon
a plea of nolo contendere, or its equivalent, shall not, of itself, create a
presumption that Indemnitee did not act in good faith in the reasonable belief
that his action was in the best interest of the Corporation.

     4. Indemnification in Proceedings by or in the Right of the Corporation.
The Corporation shall indemnify Indemnitee, and hold Indemnitee harmless, in
accordance with the provisions of this Paragraph 4 from and against any and all
Indemnified Costs which may be imposed on, incurred by or asserted against
Indemnitee at any time as a result of or in connection with Indemnitee being a
party to or threatened to be made a party to or otherwise involved in any
Proceeding by or in the right of the Corporation to procure a judgment in its
favor by reason of his Corporate Status or by reason of any action alleged to
have been taken or omitted by Indemnitee or any other person or entity in
connection therewith, except that (a) no

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indemnification shall be made under this Paragraph 4 with respect to any matter
as to which Indemnitee shall have been adjudicated in any Proceeding not to have
acted in good faith in the reasonable belief that his action was in the best
interest of the Corporation and (b) no indemnification shall be made under this
Paragraph 4 in respect of any claim, issue, or matter as to which Indemnitee
shall have been adjudged to be liable to the Corporation, unless and only to the
extent that a court of Massachusetts shall determine upon application that,
despite the adjudication of such liability but in view of all the circumstances
of the case, Indemnitee is fairly and reasonably entitled to indemnity for such
Indemnified Costs as the court shall deem proper. The termination of any
Proceeding by judgment, order, settlement, conviction or upon a plea of nolo
contendere, or its equivalent, shall not, of itself, create a presumption that
Indemnitee did not act in good faith in the reasonable belief that his action
was in the best interest of the Corporation.

     5. Exceptions to Right of Indemnification. Notwithstanding anything to the
contrary in this Agreement, except as set forth in Paragraph 10, the Corporation
shall not indemnify Indemnitee under this Agreement in connection with a
Proceeding (or part thereof) initiated by Indemnitee unless the initiation
thereof was approved by the Board of Directors of the Corporation.
Notwithstanding anything to the contrary in this Agreement, the Corporation
shall not indemnify Indemnitee to the extent Indemnitee has actually been
reimbursed from the proceeds of insurance maintained by the Corporation, and in
the event the Corporation makes any indemnification payments to Indemnitee and
Indemnitee is subsequently reimbursed from such proceeds of insurance,
Indemnitee shall promptly refund such indemnification payments to the
Corporation to the extent of such insurance reimbursement.

     6. Indemnification of Expenses of Successful Party. Notwithstanding any
other provision of this Agreement, to the extent that Indemnitee has been
successful, on the merits or otherwise, in defense of any Proceeding in which he
is involved by reason of his Corporate Status or by reason of any action alleged
to have been taken or omitted by Indemnitee or any other person or entity in
connection therewith, Indemnitee shall be indemnified, to the maximum extent
permitted by applicable law, against all Indemnified Costs incurred by him or on
his behalf in connection therewith. Without limiting the foregoing, if any such
Proceeding or any claim, issue or matter therein is disposed of, on the merits
or otherwise (including a disposition without prejudice), without (i) an
adjudication that Indemnitee was liable to the Corporation, or (ii) an
adjudication that Indemnitee did not act in good faith in the reasonable belief
that his action was in the best interest of the Corporation, Indemnitee shall be
considered for the purposes hereof to have been wholly successful with respect
thereto.

     7. Notification and Defense of Claim. As a condition precedent to his right
to be indemnified under this Agreement, Indemnitee must notify the Corporation
in writing as soon as practicable of any Proceeding for which Indemnitee will
seek indemnification or for which indemnification could be sought by him and
provide the Corporation with a copy of any summons, citation, subpoena,
complaint, indictment, information or other document relating to such Proceeding
with which he is served; provided that any failure to so notify the Corporation
shall not relieve the Corporation from any liability under this Agreement,
except to the extent any delay or failure by Indemnitee to provide notice to the
Corporation shall increase the Corporation's liability hereunder. With respect
to any Proceeding of which the Corporation is so

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<PAGE>

notified, the Corporation will be entitled to participate therein at its own
expense and/or to assume the defense thereof at its own expense, with legal
counsel reasonably acceptable to Indemnitee. After written notice from the
Corporation to Indemnitee of its election so to assume such defense, the
Corporation shall not be liable to Indemnitee for any fees or expenses of
counsel subsequently incurred by Indemnitee in connection with such Proceeding,
other than as provided below in this Paragraph 7. Indemnitee shall have the
right to employ his own counsel in connection with such Proceeding, but any fees
and expenses of such counsel incurred after written notice from the Corporation
of its assumption of the defense thereof shall be at the expense of Indemnitee
unless (i) the employment of counsel by Indemnitee has been authorized by the
Corporation, (ii) counsel to Indemnitee shall have reasonably concluded that
there may be a conflict of interest or position in any significant issue between
the Corporation and Indemnitee or between Indemnitee and any other jointly
represented party in the conduct of defense of such Proceeding, or (iii) the
Corporation shall not in fact have employed counsel to assume the defense of
such Proceeding, in each of which cases the reasonable fees and expenses of
counsel for Indemnitee shall be at the expense of the Corporation except as
otherwise expressly provided by this Agreement. Indemnitee may not settle any
Proceeding for which he seeks indemnification hereunder without first obtaining
the prior written consent of the Corporation, which shall not be unreasonably
withheld, conditioned or delayed.

     8. Advancement of Expenses. Subject to the provisions of Paragraph 9 below,
any Indemnified Costs incurred by Indemnitee in connection with or arising out
of any Proceeding with respect to which Indemnitee is or may be entitled to
indemnification under this Agreement shall be paid or reimbursed to Indemnitee
by the Corporation in advance of the final disposition of such matter; provided,
however, that the payment or reimbursement of such Indemnified Costs in advance
of the final disposition of such matter shall be made only upon receipt of an
undertaking by or on behalf of Indemnitee to repay all amounts so advanced in
the event that it shall ultimately be determined that Indemnitee is not entitled
to be indemnified by the Corporation as authorized in this Agreement or
otherwise; and that no such advancement of expenses shall be made with respect
to any matter as to which it shall have been adjudicated in any Proceeding that
Indemnitee did not act in good faith in the reasonable belief that his action
was in the best interest of the Corporation. Such undertaking shall be accepted
without bond or other security or reference to the financial ability of
Indemnitee to make repayment.

     9. Procedure for Indemnification. In order to obtain indemnification or
advancement of Indemnified Costs pursuant to this Agreement, Indemnitee shall
submit to the Corporation a written request, including in such request such
documentation and information as is reasonably available to Indemnitee
describing the amount of indemnification or advancement requested. Upon
Indemnitee's verification to the reasonable satisfaction of the Corporation of
the amount of any Indemnified Costs incurred by Indemnitee, the Corporation
shall either, at Indemnitee's direction, reimburse Indemnitee or pay as and when
due to the person or other entity entitled thereto the Indemnified Costs covered
by this Agreement.

     10. Remedies. The right to indemnification or advancement of Expenses as
provided by this Agreement shall be enforceable by Indemnitee in any court of
competent jurisdiction if the Corporation denies such request, in whole or in
part, or if no disposition thereof is made within twenty (20) days of submitting
a request under Paragraph 9 above. Unless otherwise required by law, the burden
of proving that indemnification or advancement is not appropriate

                                      -4-

<PAGE>

shall be on the Corporation. Indemnitee's expenses (of the type described in the
definition of "Indemnified Costs" in Paragraph 2(e)) incurred in connection with
successfully establishing his right to indemnification or advancement, in whole
or in part, in any such Proceeding shall also be indemnified and advanced by the
Corporation.

     11. Partial Indemnification. If Indemnitee is entitled under any provision
of this Agreement to indemnification by the Corporation for some or a portion of
the Indemnified Costs incurred by him or on his behalf in connection with any
Proceeding but not, however, for the total amount thereof, the Corporation shall
nevertheless indemnify Indemnitee for the portion of such Indemnified Costs to
which Indemnitee is entitled.

     12. Subrogation. In the event of any payment under this Agreement, the
Corporation shall be subrogated to the extent of such payment to all of the
rights of recovery of Indemnitee, who, at the Corporation's expense, shall
execute all papers required and take all action necessary to secure such rights,
including execution of such documents as are necessary to enable the Corporation
to bring suit to enforce such rights.

     13. Term of Agreement. This Agreement shall continue until and terminate
upon the later of (a) six years after the date that Indemnitee shall have ceased
to serve as a director or officer of the Corporation or, at the request of the
Corporation, as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise or (b) the final
termination (and expiration of all appeal periods) of all Proceedings pending on
the date set forth in clause (a) in respect of which Indemnitee is granted
rights of indemnification or advancement of Indemnified Costs hereunder and of
any proceeding commenced by Indemnitee pursuant to Paragraph 10 of this
Agreement relating thereto.

     14. Indemnification Hereunder Not Exclusive. The indemnification and
advancement of Indemnified Costs provided by this Agreement shall be independent
of, in addition to and not be deemed exclusive or in derogation of any other
rights to which Indemnitee may be entitled under the Restated Articles of
Organization, the Amended and Restated By-Laws, any other agreement, any vote of
stockholders or disinterested directors, the Business Corporation Law of
Massachusetts, any other law (common or statutory), or otherwise, both as to
action in his official capacity and as to action in another capacity while
holding office for the Corporation. Nothing contained in this Agreement shall be
deemed to prohibit the Corporation from purchasing and maintaining insurance, at
its expense, to protect itself or Indemnitee against any expense, liability or
loss incurred by it or him in any such capacity, or arising out of his status as
such, whether or not Indemnitee would be indemnified against such expense,
liability or loss under this Agreement.

     15. No Special Rights. Nothing herein shall confer upon Indemnitee any
right to continue to serve as an officer or director of the Corporation for any
period of time or at any particular rate of compensation.

     16. Savings Clause. If this Agreement or any portion thereof shall be held
invalid, unenforceable or void in whole or in part on any ground by any court of
competent jurisdiction, then (a) the parties shall promptly negotiate a
replacement provision effecting the parties' intent to provide indemnification
and advancement rights to Indemnitee to the maximum extent

                                      -5-

<PAGE>

permitted by applicable law, (b) the Corporation shall nevertheless indemnify
Indemnitee as to Indemnified Costs to the maximum extent permitted by any
applicable portion of this Agreement that shall not have been invalidated and,
in any event, to the maximum extent permitted by applicable law, and (c) the
remaining provisions of this Agreement shall remain in full force and effect.

     17. Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall constitute the original.

     18. Successors and Assigns. This Agreement shall be binding upon the
Corporation and its successors and assigns, including any direct or indirect
successor by purchase, merger, consolidation or otherwise to all or
substantially all of the business and/or assets of the Corporation, and shall
inure to the benefit of the estate, heirs, executors, administrators and
personal representative of Indemnitee.

     19. Headings. The headings of the paragraphs of this Agreement are inserted
for convenience only and shall not be deemed to constitute part of this
Agreement or to affect the construction thereof.

     20. Modification and Waiver. This Agreement may be amended from time to
time to reflect changes in Massachusetts law or for other reasons. No
supplement, modification or amendment of this Agreement shall be binding unless
executed in writing by both of the parties hereto. No waiver of any of the
provisions of this Agreement shall be deemed or shall constitute a waiver of any
other provision hereof nor shall any such waiver constitute a continuing waiver.

     21. Notices. All notices, requests, demands and other communications
hereunder shall be in writing and shall be deemed to have been given (i) when
delivered by hand or (ii) if mailed by certified or registered mail with postage
prepaid, on the third day after the date on which it is so mailed.

          (a)  if to Indemnitee, to:

               Stephen Ward
               115 West 3rd Street
               Frederick, Maryland 21701

          (b)  if to the Corporation, to:

               Telaxis Communications Corporation
               20 Industrial Drive East
               P.O. Box 109
               South Deerfield, MA  01373-0109
               Attention:  President

or to such other addresses as may have been furnished to Indemnitee by the
Corporation or to the Corporation by Indemnitee, as the case may be.

                                      -6-

<PAGE>

     22. Applicable Law. This Agreement shall be governed by and construed in
accordance with the internal laws of the Commonwealth of Massachusetts.

     23. Attorneys' Fees. If any action at law or in equity is necessary to
enforce or interpret the terms of this Agreement or to protect the rights
obtained hereunder, the prevailing party shall be entitled to its reasonable
attorneys' fees, costs and disbursements in addition to any other relief to
which it may be entitled.

     IN WITNESS WHEREOF, the parties to this Agreement have caused this
Agreement to be duly executed as of the day and year first written above.

                                   TELAXIS COMMUNICATIONS
                                   CORPORATION

                                   By:
                                      ------------------------------------------
                                      Name:  John L. Youngblood
                                      Title:  President & CEO

                                   INDEMNITEE:

                                   ---------------------------------------------
                                   Name:  Stephen Ward

                                      -7-

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