Document:

EX-10.55

PLATO Learning, Inc.

Fiscal 2005 Executive Long-Term Incentive Plan

Objectives: The Fiscal 2005 Executive Long-Term Incentive Plan is a rewards program that links
executive compensation to financial performance over time and shareholder interests. 80% of
targeted payout is stock options based and 20% is based on performance shares.

Eligibility: Employees in the named jobs are eligible for participation in the Plan: President &
CEO; Chief Financial Officer; Chief Technology Officer; Sr. Vice President Operations; Chief
Information Officer, Vice President, Human Resources; and Vice President, School Market and
Evaluation, Vice President – Technology Maintenance.

Target Award: The table below shows each participant’s designated target number of options and
performance shares; the actual number of options and performance shares earned will be based on
performance.

Long-term Incentive Grant at 100% Achievement

	 	 	 	 	 	 	 	 	 
	Executive	 	Annual Options	 	Annual Performance Shares*
	President & CEO
	 		120,000		 		10,000	
	Chief Financial Officer
	 		40,000		 		3,333	
	Chief Technology Officer
	 		20,000		 		1,667	
	Sr. Vice President, Operations
	 		20,000		 		1,667	
	Chief Information Officer
	 		15,000		 		1,667	
	Vice President, Human Resources
	 		12,000		 		1,000	
	Vice President, School Market
and Evaluation
	 		10,000		 		500	
	Vice President, Technology
Maintenance
	 		20,000		 		1,667	

• 1 performance share equivalent to 3 options.

Performance Measures: All Awards under the Plan will be subject to a Performance Requirement.
The Performance Targets for FY04 through FY07 are shown in Exhibit A

FY 2004 Exhibit A follows for purpose of illustration.

1

Annual Stock Options: The FY05 Targets related to the award of FY05 stock options are as specified
in the table below.

	 	 	 	 	 
	Performance	 	Operating IncomeOptions Awarded	 	 
	Low to Mid Level Performance	 	< 88% of Target Up to 50%(1)

	 
	 	 	 	 
	Mid to High Level Performance

Overachievement

	 	88% — 100% of Target75% to 100%

100% — 106% of Target
	 	

110% to 125%

Notes:

	 	(1)	 	In addition to the level of financial performance achieved, consideration will
also be given to the executive teams achievement of non-financial Operating Goals. The
Board, at its discretion, may award less than 50% of options if financial performance
is significantly below these levels, as consideration will be given to achievement of
Operating Goals.

	 	(2)	 	Performance targets for stock option awards may change in future years.

Annual Performance Shares: Performance shares will be awarded commencing in
2005(1), for achieving the cumulative, operating income target as specified in Exhibit A
FY 2004 Exhibit A follows for purpose of illustration. Performance shares will be awarded for
achieving the targets as specified below (2):

	 	 	 	 	 
	Performance	 	Shares Awarded
	Lower end of each multi-year, cumulative range
	 		100	%
	Higher end of each multi-year, cumulative range
	 		110% - 125% (3)	

Notes:

	 	(1)	 	For 2005, the target will be a 2-year cumulative target (2004 and 2005),
whereas in subsequent years the target will be a 3-year cumulative target.

	 	(2)	 	The Board will determine how many performance shares are awarded if the
operating income target is missed.

	 	(3)	 	The Board will determine how many performance shares will be issued if
performance is mid-range versus at the high end.

	 	(4)	 	Executives must hold any performance shares awarded for at least 5 years or
until they leave the Company, whichever is the sooner.

General Provisions:

The authorization of an employee’s participation in the Plan does not warrant the assumption
or require that the employee will necessarily participate in any Executive Annual Incentive Plan
the Company may establish for future years.

The obligations of the Company, as set forth in this document shall be subject to modification is
such manner and to such extent as the CEO and the Board of Directors, deems necessary by agreement,
or as may be necessary to comply with any law, regulation or governmental order pertaining to
compensation. The Compensation Committee will receive the recommendations of the CEO for the cash
payment amount, Awards of stock options and performance shares and any actions related to
termination of employment and/or change in control, and after due deliberation determine the
incentive compensation. Terms and conditions within the PLATO Learning, Inc. 2002 Stock Plan will
prevail.

To be entitled to a cash payment amount from the Plan, a participant must be continuously employed
by the Company from November 1, 2004 through October 31, 2005 except for the following
circumstances:

	 	(1)	 	Retirement, Disability or Death. If a Participant retires, becomes
disabled or dies before October 31, 2005, his/her cash payment amount will be prorated
for the number of days the Participant was an active PLATO employee. In the case of
death, the payment amount will be given to the Participant’s estate according to
current law and established guidelines and practices. Payment will be based on actual
results and will be made following the PLATO earnings release for Fiscal year 2004.

	 	(2)	 	Unpaid Leave of Absence. If a Participant is on an unpaid leave of
absence anytime between November 1 2004 and October 31, 2005, his/her cash payment
amount will be prorated on a daily basis to exclude the time he/she was on such leave.

	 	(3)	 	Termination without Cause. In the event a Participant’s employment
with the Company is terminated without cause after November 1, 2004 and before October
31, 2005 and is eligible for severance benefits, his/her cash payment amount will be
prorated for the number of days the Participant was an active PLATO employee.

	 	(4)	 	Change in Control. If at any time during fiscal year 2005 there is a
Change in Control event the incentive payout will be pro-rated, on a calendar basis, at
the time Change in Control occurs and will use the Target- Bonus at 100%.

2EX-10.1

Silicon Valley Bank

Amendment to Loan Documents

	 	 	 
	Borrower(s):

	 	Wave Wireless Corporation, a Delaware corporation

formerly known as P-COM, Inc. (“Parent”)

and

P-Com Network Services, Inc., a Delaware

corporation (“Services Sub”)
	 

	 	 

Date: As of September 17, 2005

THIS AMENDMENT TO LOAN DOCUMENTS (this “Amendment”) is entered into between, on the one
hand, SILICON VALLEY BANK (“Silicon”), whose address is 3001 Tasman Drive, Santa Clara, California
95054, and, on the other hand, the borrower(s) named above (individually and collectively, and
jointly and severally, the “Borrower”), whose chief executive office is located at 1996 Lundy Ave.,
San Jose, California 95131.

Borrower and Silicon are parties to that certain Loan and Security Agreement, dated September
20, 2002 (as amended, restated, supplemented, or otherwise modified from time to time, the “Loan
Agreement) and that certain Loan and Security Agreement (Exim Program), dated September 20, 2002
(as amended, restated, supplemented, or otherwise modified from time to time, the “Exim Loan
Agreement). (Capitalized terms used but not defined in this Amendment shall have the meanings set
forth in the Loan Agreement. The Loan Agreement, Exim Loan Agreement and all other present and
future documents, instruments and agreements relating thereto are referred to herein collectively
as the “Loan Documents”.)

	 	1.	 	Limited Consent to Name Change of P-COM, INC.; References in Loan Documents to “P-COM, INC.”
Effective August 22, 2005, Parent changed its legal name from P-COM, INC. to Wave Wireless
Corporation (the “Designated Name Change”). Silicon hereby consents to the Designated Name
Change, and Silicon and Borrower hereby agree that, from and after August 22, 2005, all
references in the Loan Documents to “P-COM, INC.” or words of like import referring to Parent
shall mean and refer to Wave Wireless Corporation. It is understood by the parties hereto,
however, that the foregoing consent to the Designated Name Change does not constitute a
consent to any other name change of any Borrower, or a waiver of any other provision or term
of any Loan Document, nor an agreement to consent in the future to any other name change of
any Borrower or to waive in the future any other provision or term of any Loan Document.

	 	2.	 	Limited Consent relative to Services Sub. Silicon previously consented to the disposition
by Parent of all of its right, title, and interest in and to Services Sub or to the
dissolution of Services Sub, all as set forth in Section 3 of that certain Amendment to Loan
Documents, dated as of May 1, 2003, between Borrower and Silicon (the “May 2003 Amendment”).
As of the date hereof, Parent has not yet disposed of all of its right, title, and interest in
and to Services Sub and Services Sub has not yet been wound up and dissolved, but Services Sub
is no longer in good standing. Borrower hereby: (a) reaffirms the provisions of such Section
3 of the May 2003 Amendment; (b) represents and warrants that Services Sub does not own any
material assets, and does not conduct any business; and (c) covenants and agrees that Services
will not own any material assets and will not conduct any business. Based on the foregoing,
Silicon hereby consents to Services Sub no longer being in good standing. It is understood by
the parties hereto, however, that the foregoing consent to Services Sub no longer being in
good standing does not constitute a consent to any other Borrower not being in good standing,
or a waiver of any other provision or term of any Loan Document, nor an agreement to consent
in the future to any other Borrower not being in good standing or to waive in the future any
other provision or term of any Loan Document.

	 	3.	 	Modifications of Loan Documents.

	 	(a)	 	Section 4 of the Schedule to the Loan Agreement hereby is amended and restated in its
entirety to read as follows:

	 	4.	 	MATURITY DATE	 

(Section 6.1): November 17, 2005.

	 	(b)	 	Section 4 of the Schedule to the Exim Loan Agreement hereby is amended and restated in
its entirety to read as follows:

	 	4.	 	MATURITY DATE	 

(Section 6.1): November 17, 2005.

	 	(c)	 	The portion of Section 1 of the Schedule to the Loan Agreement that currently reads as
follows:

An amount not to exceed the lesser of: (i) $500,000 at any one time
outstanding (the “Maximum Credit Limit”); or (ii) 75% (the “Advance Rate”)
of the amount of Borrower’s Eligible Accounts (as defined in Section 8
above); provided that the total outstanding Obligations under this Loan
Agreement and under the Exim Agreement (as defined below) shall not at any
time exceed $2,500,000 (the “Overall Credit Limit”).

, hereby is amended and restated in its entirety to read as follows:

An amount not to exceed the lesser of: (i) $500,000 at any one time
outstanding (the “Maximum Credit Limit”); or (ii) the sum of (y) 75% (the
“Advance Rate”) of the amount of Borrower’s Eligible Accounts (as defined in
Section 8 above), plus (z) the Permitted Overadvance Amount (as defined
below); provided that the total outstanding Obligations under this Loan
Agreement and under the Exim Agreement (as defined below) shall not at any
time exceed $2,500,000 (the “Overall Credit Limit”).

As used herein, the term “Permitted Overadvance Amount” means, as of any
date of determination, an amount equal to: (a) $-0-, at all times prior to
September 17, 2005; (b) $200,000, solely during the period commencing on
September 17, 2005 and ending on October 16, 2005; and (c) $-0-, at times
from and after October 17, 2005.

	 	(d)	 	The portion of Section 6 of the Schedule to the Loan Agreement that currently reads as
follows:

For each of the months ending July 31, 2005, August 31, 2005 and September
30, 2005, Borrower shall maintain a Tangible Net Worth of not less than
<$5,200,000> plus (i) 20% of all net equity gain (as defined
below) received after June 30, 2005 for equity securities and subordinated
debt of the Borrower, plus (ii) 25% of the Borrower’s net income in
each fiscal quarter ending as of June 30, 2005 and thereafter.

, hereby is amended and restated in its entirety to read as follows:

For the month ending July 31, 2005, Borrower shall maintain a Tangible Net
Worth of not less than <$5,200,000> plus (i) 20% of all net
equity gain (as defined below) received after June 30, 2005 for equity
securities and subordinated debt of the Borrower, plus (ii) 25% of
the Borrower’s net income in each fiscal quarter ending as of June 30, 2005
and thereafter.

For each of the months ending August 31, 2005, September 30, 2005 and
October 31, 2005, Borrower shall maintain a Tangible Net Worth of not less
than the TNW Base Amount (as defined below) plus (i) 25% of all net
equity gain (as defined below) received after October 31, 2005 for equity
securities and subordinated debt of the Borrower, plus (ii) 50% of
the Borrower’s net income in each fiscal quarter ending as of September 30,
2005 and thereafter.

As used herein, the term “TNW Base Amount” means, as of any date of
determination, (y) <$3,250,000> with respect to each of the months
ending August 31, 2005 and September 30, 2005, and (z) <$4,000,000>
with respect to each month thereafter.

	 	4.	 	Provisions relative to A&R Warrant.

	 	(a)	 	Pursuant to Section 5 of the May 2003 Amendment, Parent and Silicon previously entered
into the A&R Warrant referred to therein. Borrower and Silicon hereby acknowledge that,
since May 1, 2003 (i.e., the “Amendment and Restatement Date” set forth in the A&R
Warrant), one or more events have occurred that require adjustment to the number of
“Shares” (as defined in the A&R Warrant) in accordance with Article 2 of the A&R Warrant.
Borrower hereby covenants and agrees to deliver to Silicon, as promptly as practicable and
in any event not later than 30 days following the date of this Amendment, a Certificate of
the Chief Financial Officer of Parent identifying, in reasonable detail, each such event
that has occurred since May 1, 2003 and computing the resulting adjustment, in accordance
with Article 2 of the A&R Warrant, of the number of “Shares” for which the A&R Warrant is
exercisable or convertible in accordance with its terms, which computation needs to be
acceptable to Silicon in its good faith business judgment.

	 	(b)	 	Borrower and Silicon hereby agree to modify the “Warrant Price” set forth in the
preamble of the A&R Warrant to equal, as of the date of this Amendment (and subject to
further adjustment (if any) in accordance with the terms thereof), a per share price equal
to the sum of (i) the 5-consecutive-trading-day average closing price, determined as of the
Business Day immediately preceding the date of this Amendment, relative to one “Share” of
Common Stock of Parent, plus (ii) $0.05. As promptly as practicable and in any event not
later than 30 days following Silicon’s receipt of the adjustment certificate described in
Section 4(a) above, Borrower and Silicon shall execute and deliver a Second Amended and
Restated Warrant to Purchase Stock that amends and restates the A&R in its entirety solely
to reflect such modification of the Warrant Price and such adjustments to the number of
“Shares” (the “2nd A&R Warrant”) in exchange for the A&R Warrant. Thereafter, references
in the Loan Documents to the “Warrant” or words of like import referring to the A&R Warrant
shall mean and refer instead to the 2nd A&R Warrant.

	 	5.	 	Representations True. Borrower represents and warrants to Silicon that all representations
and warranties set forth in the Loan Agreement and the Exim Loan Agreement, each as modified
hereby, are true and correct in all material respects (except to the extent such
representations may be affected by transactions permitted by the Loan Agreement or the Exim
Loan Agreement, each as modified hereby).

	 	6.	 	Fees. In consideration for Silicon entering into this Agreement:

(a) Borrower shall concurrently pay Silicon a fee in the amount of $7,083.33, which shall
be non-refundable and in addition to all interest and other fees payable to Silicon under the
Loan Documents. Silicon is authorized to charge said fee to Borrower’s loan account.

(b) Borrower shall pay Silicon, on the date 30 days following the date of this Amendment,
an additional fee in the amount of $8,000.00, which shall be non-refundable and in addition to
all interest and other fees payable to Silicon under the Loan Documents. Silicon is authorized
to charge said fee to Borrower’s loan account.

	 	7.	 	General Provisions. This Amendment, the Loan Agreement, the Exim Loan Agreement, the prior
written amendments thereto, and the other Loan Documents set forth in full all of the
representations and agreements of the parties with respect to the subject matter hereof and
supersede all prior discussions, representations, agreements and under-standings between the
parties with respect to the subject hereof. All of the terms and provisions of the Loan
Agreement, the Exim Loan Agreement, and all other Loan Documents, as expressly amended hereby,
shall continue in full force and effect and the same are hereby ratified and confirmed.

[remainder of page intentionally left blank; signature page follows]

	 	 	 	8.

1

Counterparts. This Amendment may be executed in any number of counterparts and by different
parties on separate counterparts, each of which, when executed and delivered, shall be deemed to
be an original, and all of which, when taken together, shall constitute but one and the same
document. Delivery of an executed counterpart of this Amendment by telefacsimile shall be
equally as effective as delivery of an original executed counterpart of this Amendment. The
foregoing shall apply to each other Loan Document mutatis mutandis.

	 	 	 
	Borrower:

	 	

	WAVE WIRELESS CORPORATION, a Delaware

corporation formerly known as P-COM,

Inc.

BY     

	 	

Silicon:
	President or Vice President

BY     

Secretary or Assistant Secretary

	 	SILICON VALLEY BANK

By     

Title     
	 
	 	 
	Borrower:

	 	

	P-COM NETWORK SERVICES, INC., a Delaware

corporation

BY     

President or Vice President

BY     

Secretary or Assistant Secretary

	 	

	 
	 	 

2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00091-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00091-of-00352.parquet"}]]