Document:

Exhibit 10.10

 

Exhibit 10.10

THE VIASAT, INC.

EMPLOYEE STOCK PURCHASE PLAN

ViaSat, Inc., a corporation organized under the laws of the State of Delaware (the “Company”),
hereby adopts The ViaSat, Inc. Employee Stock Purchase Plan (the “Plan”). The purposes of the Plan
are as follows:

     (1) To assist employees of the Company and its Subsidiary Corporations (as defined below) in
acquiring a stock ownership interest in the Company pursuant to a plan which is intended to qualify
as an “employee stock purchase plan” within the meaning of Section 423(b) of the Internal Revenue
Code of 1986, as amended.

     (2) To help employees provide for their future security and to encourage them to remain in the
employment of the Company and its Subsidiary Corporations.

1. DEFINITIONS

     Whenever any of the following terms is used in the Plan with the first letter or letters
capitalized, it shall have the following meaning unless the context clearly indicates to the
contrary (such definitions to be equally applicable to both the singular and the plural forms of
the terms defined):

     (a) “Authorization” has the meaning assigned to that term in Section 3(b) hereof.

     (b) “Board of Directors” or “Board” means the Board of Directors of the Company.

     (c) “Code” means the Internal Revenue Code of 1986, as amended.

     (d) “Committee” means the committee appointed to administer the Plan pursuant to Section 12
hereof.

     (e) “Company” means ViaSat, Inc., a Delaware corporation.

     (f) “Date of Exercise” means, with respect to any Option, the last day of the Offering Period
for which the Option was granted.

     (g) “Date of Grant” means, with respect to any Option, the date upon which the Option is
granted, as set forth in Section 3(a) hereof.

     (h) “Eligible Compensation” means the employee’s base pay.

     (i) “Eligible Employee” means an employee of the Company or any Subsidiary Corporation (1) who
does not, immediately after the option is granted, own stock possessing five percent or more of the
total combined voting power or value of all classes of stock of the Company, a Parent Corporation
or

 

 

a Subsidiary Corporation; (2) who has been employed by the Company or any Subsidiary Corporation
for not less than six months; (3) whose customary employment is for more than 20 hours per week;
and (4)
whose customary employment is for more than five months in any calendar year. For purposes of
paragraph (i), the rules of Section 424(d) of the Code with regard to the attribution of stock
ownership shall apply in determining the stock ownership of an individual, and stock which an
employee may purchase under outstanding options shall be treated as stock owned by the employee.
During a leave of absence meeting the requirements of Treasury Regulation Section 1.421-7(h)(2), an
individual shall be treated as an employee of the Company or Subsidiary Corporation employing such
individual immediately prior to such leave. “Eligible Employee” shall not include any director of
the Company or any Subsidiary Corporation who does not render services to the Company in the status
of an employee within the meaning of Section 3401(c) of the Code.

     (j) “Offering Period” shall mean the six-month periods commencing January 1 and July 1 of each
Plan Year as specified in Section 3(a) hereof or such other dates which are six months apart as
determined by the Committee. Options shall be granted on the Date of Grant and exercised on the
Date of Exercise as provided in Sections 3(a) and 4(a) hereof.

     (k) “Option” means an option granted under the Plan to an Eligible Employee to purchase shares
of the Company’s Stock.

     (l) “Option Period” means, with respect to any Option, the period beginning upon the Date of
Grant and ending upon the Date of Exercise.

     (m) “Option Price” has the meaning set forth in Section 4(b) hereof.

     (n) “Parent Corporation” means any corporation, other than the Company, in an unbroken chain
of corporations ending with the Company if, at the time of the granting of the Option, each of the
corporations other than the Company owns stock possessing 50% or more of the total combined voting
power of all classes of stock in one of the other corporations in such chain.

     (o) “Participant” means an Eligible Employee who has complied with the provisions of Section
3(b) hereof.

     (p) “Payday” means the regular and recurring established day for payment of cash compensation
to employees of the Company or any Subsidiary Corporation.

     (q) “Plan” means The ViaSat, Inc. Employee Stock Purchase Plan.

     (r) “Plan Year” means the calendar year.

     (s) “Stock” means the shares of the Company’s Common Stock, $0.0001 par value.

     (t) “Subsidiary Corporation” means any corporation, other than the Company, in an unbroken
chain of corporations beginning with the Company if, at the time of the granting of the Option,
each of the corporations other than the last corporation in an unbroken chain owns stock possessing
50% or more of the total combined voting power of all classes of stock in one of the other
corporations in such chain.

 

 

2. STOCK SUBJECT TO THE PLAN

     Subject to the provisions of Section 9 hereof (relating to adjustments upon changes in the
Stock) and Section 11 hereof (relating to amendments of the Plan), the Stock which may be sold
pursuant to Options granted under the Plan shall not exceed in the aggregate 1,500,000 shares, and
may be unissued shares or treasury shares or shares bought on the market for purposes of the Plan.

3. GRANT OF OPTIONS

     (a) General Statement. The Company shall offer Options under the Plan to all Eligible
Employees in successive Offering Periods until the earlier of (i) the date when the number of
shares of Stock available under the Plan have been sold or (ii) the date when the Plan is
terminated. Dates of Grant shall include January 1 and July 1 of each Plan Year and/or such other
date or dates as the Committee may from time to time determine. Each Option shall expire on the
Date of Exercise immediately after the automatic exercise of the Option pursuant to Section 4(a)
hereof. The number of shares of Stock subject to each Option shall equal the payroll deductions
authorized by each Participant in accordance with subsection (b) hereof for the Option Period,
divided by the Option Price, except as provided in Section 4(a); provided, however, that the
maximum number of shares subject to any Option shall not exceed 100,000.

     (b) Election to Participate; Payroll Deduction Authorization. Except as provided in
subsection (d) hereof, an Eligible Employee shall participate in the Plan only by means of payroll
deduction. Each Eligible Employee who elects to participate in the Plan shall deliver to the
Company during the calendar month preceding a Date of Grant no later than five (5) working days
before such Date of Grant a completed and executed written payroll deduction authorization in a
form prepared by the Company (the “Authorization”). An Eligible Employee’s Authorization shall
give notice of such Eligible Employee’s election to participate in the Plan for the next following
Offering Period and subsequent Offering Periods and shall designate a stated whole dollar amount of
Eligible Compensation to be withheld on each Payday. The amount withheld shall not be less than
$10.00 each Payday and the stated amount shall not exceed 5% of Eligible Compensation. The cash
compensation payable to a Participant for an Offering Period shall be reduced each Payday through a
payroll deduction in an amount equal to the stated withdrawal amount specified in the Authorization
payable on such Payday, and such amount shall be credited to the Participant’s account under the
Plan. Any Authorization shall remain in effect until the Eligible Employee amends the same
pursuant to this subsection, withdraws pursuant to Section 5 or ceases to be an Eligible Employee
pursuant to Section 6.

     (c) $25,000 Limitation. No Eligible Employee shall be granted an Option under the
Plan which permits his or her rights to purchase stock under the Plan and under all other employee
stock purchase plans of the Company, any Parent Corporation or any Subsidiary Corporation subject
to Section 423 to accrue at a rate which exceeds $25,000 of fair market value of such stock
(determined at the time the Option is granted) for each calendar year in which the Option is
outstanding at any time. For purpose of the limitation imposed by this subsection, the right to
purchase stock under an Option accrues when the Option (or any portion thereof) first becomes
exercisable during the calendar year, the right to purchase stock under an Option accrues at the
rate provided in the Option, but in no case may such rate exceed $25,000 of the fair market value
of such stock (determined at the time such Option is granted) for any one calendar year, and a
right to purchase stock which has accrued under an Option may not be

 

 

carried over to any other Option.

     (d) Leaves of Absence. During a leave of absence meeting the requirements of Treasury
Regulation Section 1.421-7(h)(2), a Participant may continue to participate in the Plan by making
cash payments to the Company on each Payday equal to the amount of the Participant’s payroll
deductions under the Plan for the Payday immediately preceding the first day of such Participant’s
leave of absence.

4. EXERCISE OF OPTIONS; OPTION PRICE

     (a) General Statement. Each Participant automatically and without any act on such
Participant’s part shall be deemed to have exercised such Participant’s Option on the Date of
Exercise to the extent that the balance then in the Participant’s account under the Plan is
sufficient to purchase at the Option Price whole shares of the Stock subject to the Option. Any
cash in lieu of fractional shares of Stock remaining after the purchase of whole shares of Stock
upon exercise of an Option will be credited to such Participant’s account and carried forward and
applied toward the purchase of whole shares of Stock pursuant to the Option, if any, granted to
such Participant for the next following Offering Period. Certificates representing fractional
shares will not be issued.

     (b) Option Price Defined. The option price per share of Stock (the “Option Price”) to
be paid by a Participant upon the exercise of the Participant’s Option shall be equal to 85% of the
lesser of the fair market value of a share of Stock on the Date of Exercise or the fair market
value of a share of Stock on the Date of Grant. The fair market value of a share of Stock as of a
given date shall be: (i) the closing price of a share of Stock on the principal exchange on which
the Stock is then trading, if any, on such date, or, if shares were not traded on such date, then
on the next preceding trading day during which a sale occurred; (ii) if the Stock is not traded on
an exchange but is quoted on Nasdaq or a successor quotation system, (1) the last sales price (if
the Stock is then listed as a National Market Issue under the NASD National Market System) or (2)
the mean between the closing representative bid and asked prices (in all other cases) for a share
of the Stock on such date, or (3) if shares were not traded on such date, then on the next
preceding trading day during which a sale occurred, as reported by Nasdaq or such successor
quotation system; (iii) if the Stock is not publicly traded on an exchange and not quoted on Nasdaq
or a successor quotation system, the mean between the closing bid and asked prices for a share of
Stock on such date, or, if shares were not traded on such date, then on the next preceding trading
day during which a sale occurred, as determined in good faith by the Committee; or (iv) if the
Stock is not publicly traded, the fair market value of a share of Stock established by the
Committee acting in good faith.

     (c) Delivery of Share Certificate. As soon as practicable after the exercise of any
Option, the Company will deliver to the Participant or his or her nominee the whole shares of Stock
purchased by the Participant from funds credited to the Participant’s account under the Plan. In
the event the Company is required to obtain authority from any commission or agency to issue any
such certificate, the Company shall seek to obtain such authority. The inability of the Company to
obtain authority from any such commission or agency which the Committee in its absolute discretion
deems necessary for the lawful issuance of any such certificate shall relieve the Company from
liability to any Participant except to pay to the Participant the amount of the balance in the
Participant’s account in cash in one lump sum without any interest thereon.

 

 

     (d) Pro Rata Allocations. If the total number of shares of Stock for which Options are
to be exercised on any date exceeds the number of shares remaining unsold under the Plan (after
deduction of all shares for which Options have theretofore been exercised), the Committee shall
make a pro rata allocation of the available remaining shares in as nearly a uniform manner as shall
be practicable and any balance of payroll deductions credited to the accounts of Participants which
have not been applied to the purchase of shares of Stock shall be paid to such Participants in cash
in one lump sum within sixty (60) days after the Date of Exercise, without any interest thereon.

5. WITHDRAWAL FROM THE PLAN

     (a) General Statement. Any Participant may withdraw from participation under the Plan
at any time except that no Participant may withdraw during the last ten (10) days of any Offering
Period. A Participant who wishes to withdraw from the Plan must deliver to the Company a notice of
withdrawal in a form prepared by the Company (the “Withdrawal Election”) not later than ten (10)
days prior to the Date of Exercise during any Offering Period. Upon receipt of a Participant’s
Withdrawal Election, the Company shall pay to the Participant the amount of the balance in the
Participant’s account under the Plan in cash in one lump sum within sixty (60) days, without any
interest thereon. Upon receipt of a Participant’s Withdrawal Election by the Company, the
Participant shall cease to participate in the Plan and the Participant’s Option shall terminate.

     (b) Eligibility Following Withdrawal. A Participant who withdraws from the Plan and
who is still an Eligible Employee shall be eligible to participate again in the Plan as of any
subsequent Date of Grant by delivering to the Company an Authorization pursuant to Section 3(b)
hereof.

6. TERMINATION OF EMPLOYMENT

     (a) Termination of Employment Other than by Death. If the employment of a Participant
terminates other than by death, the Participant’s participation in the Plan automatically and
without any act on the Participant’s part shall terminate as of the date of the termination of the
Participant’s employment. As soon as practicable after such a termination of employment, the
Company will pay to the Participant the amount of the balance in the Participant’s account under
the Plan without any interest thereon. Upon a Participant’s termination of employment covered by
this Section 6(a), the Participant’s Authorization, interest in the Plan and Option under the Plan
shall terminate.

     (b) Termination By Death. If the employment of a participant is terminated by the
Participant’s death, the executor of the Participant’s will or the administrator of the
Participant’s estate by written notice to the Company may request payment of the balance in the
Participant’s account under the Plan, in which event the Company shall make such payment without
any interest thereon as soon as practicable after receiving such notice; upon receipt of such
notice the Participant’s Authorization, interest in the Plan and Option under the Plan shall
terminate. If the Company does not receive such notice prior to the next Date of Exercise, the
Participant’s Option shall be deemed to have been exercised on such Date of Exercise and any cash
remaining in such Participant’s account thereafter shall be distributed in cash without interest
thereon pursuant to Section 5(a) hereof.

 

 

7. RESTRICTION UPON ASSIGNMENT

     An Option granted under the Plan shall not be transferable other than by will or the laws of
descent and distribution, and is exercisable during the Participant’s lifetime only by the
Participant. Except as provided in Section 6(c) hereof, an Option may not be exercised to any
extent except by the Participant. The Company shall not recognize and shall be under no duty to
recognize any assignment or alienation of the Participant’s interest in the Plan, the Participant’s
Option or any rights under the Participant’s Option.

8. NO RIGHTS OF STOCKHOLDERS UNTIL SHARES ISSUED

     With respect to shares of Stock subject to an Option, a Participant shall not be deemed to be
a stockholder of the Company, and the Participant shall not have any of the rights or privileges of
a stockholder, until such shares have been issued to the Participant or his or her nominee
following exercise of the Participant’s Option. No adjustments shall be made for dividends
(ordinary or extraordinary, whether in cash securities, or other property) or distribution or other
rights for which the record date occurs prior to the date of such issuance, except as otherwise
expressly provided herein.

9. CHANGES IN THE STOCK; ADJUSTMENTS OF AN OPTION

     Whenever any change is made in the Stock or to Options outstanding under the Plan, by reason
of a stock split, stock dividend, recapitalization or other subdivision, combination, or
reclassification of shares, appropriate action shall be taken by the Committee to adjust
accordingly the number of shares of Stock subject to the Plan and the number and the Option Price
of shares of Stock subject to the Options outstanding under the Plan to preserve, but not increase,
the rights of Participants hereunder.

10. USE OF FUNDS; NO INTEREST PAID

     All funds received or held by the Company under the Plan shall be included in the general
funds of the Company free of any trust or other restriction and may be used for any corporate
purpose. No interest will be paid to any Participant or credited to any Participant’s account
under the Plan with respect to such funds.

11. AMENDMENT OF THE PLAN

     The Board of Directors may amend, suspend, or terminate the Plan at any time and from time to
time, provided that approval by the affirmative vote of a majority of shares of Stock at a duly
held meeting of the Company’s stockholders at which a quorum is present shall be required to amend
the Plan (i) to change the number of shares of Stock reserved for sale pursuant to Options under
the Plan, (ii) to decrease the Option Price below a price computed in the manner stated in Section
4(b) hereof, (iii) to alter the requirements for eligibility to participate in the Plan or (iv) in
any manner that would cause the Plan to no longer be an “employee stock purchase plan” within the
meaning of Section 423(b) of the Code.

 

 

12. ADMINISTRATION BY COMMITTEE; RULES AND REGULATIONS

     (a) Appointment of Committee. The Plan shall be administered by the Committee, which
shall be composed of two or more members of the Board of Directors, each of whom is both a
“non-employee director” as defined by Rule 16b-3 under the Securities Exchange Act of 1934, as
amended, and
an “outside director” for purposes of Section 162(m) of the Code. Each member of the Committee
shall serve for a term commencing on a date specified by the Board of Directors and continuing
until the member dies or resigns or is removed from office by the Board of Directors. The
Committee at its option may utilize the services of an agent to assist in the administration of the
Plan including establishing and maintaining an individual securities account under the Plan for
each Participant.

     (b) Duties and Powers of Committee. It shall be the duty of the Committee to conduct
the general administration of the Plan in accordance with the provisions of the Plan. The
Committee shall have the power to interpret the Plan and the terms of the Options and to adopt such
rules for the administration, interpretation, and application of the Plan as are consistent
therewith and to interpret, amend or revoke any such rules. In its absolute discretion, the Board
may at any time and from time to time exercise any and all rights and duties of the Committee under
the Plan.

     (c) Majority Rule. The Committee shall act by a majority of its members in office.
The Committee may act either by vote at a meeting or by a memorandum or other written instrument
signed by a majority of the Committee.

     (d) Compensation; Professional Assistance; Good Faith Actions. All expenses and
liabilities incurred by members of the Committee in connection with the administration of the Plan
shall be borne by the Company. The Committee may, with the approval of the Board, employ
attorneys, consultants, accountants, appraisers, brokers or other persons. The Committee, the
Company and its officers and directors shall be entitled to rely upon the advice, opinions or
valuations of any such persons. All actions taken and all interpretations and determinations made
by the Committee in good faith shall be final and binding upon all Participants, the Company and
all other interested persons. No member of the Committee shall be personally liable for any
action, determination or interpretation made in good faith with respect to the Plan or the Options,
and all members of the Committee shall be fully protected by the Company in respect to any such
action, determination, or interpretation.

13. NO RIGHTS AS AN EMPLOYEE

     Nothing in the Plan shall be construed to give any person (including any Eligible Employee or
Participant) the right to remain in the employ of the Company, a Parent Corporation or a Subsidiary
Corporation or to affect the right of the Company, any Parent Corporation or any Subsidiary
Corporation to terminate the employment of any person (including any Eligible Employee or
Participant) at any time, with or without cause.

14. MERGER, ACQUISITION OR LIQUIDATION OF THE COMPANY

     In the event of the merger or consolidation of the Company into another corporation, the
acquisition by another corporation of all or substantially all of the Company’s assets or 50% or
more of the Company’s then outstanding voting stock, the liquidation or dissolution of the Company
or any other reorganization of the Company, the Date of Exercise with respect to outstanding
Options shall be the business day immediately preceding the effective date of such merger,
consolidation, acquisition, liquidation, dissolution, or reorganization unless the Committee shall,
in its sole discretion, provide for the assumption or substitution of such Options in a manner
complying with Section 424(a) of the Code.

 

 

15. TERM; APPROVAL BY STOCKHOLDERS

     No Option may be granted during any period of suspension of the Plan or after termination of
the
Plan. The Plan shall be submitted for the approval of the Company’s stockholders within 12 months
after the date of the Board of Directors’ adoption of the Plan. Options may be granted prior to
such stockholder approval; provided, however, that such Options shall not be exercisable prior to
the time when the Plan is approved by the stockholders; and provided, further, that if such
approval has not been obtained by the end of said 12-month period, all Options previously granted
under the Plan shall thereupon expire.

16. EFFECT UPON OTHER PLANS

     The adoption of the Plan shall not affect any other compensation or incentive plans in effect
for the Company, any Parent Corporation or any Subsidiary Corporation. Nothing in this Plan shall
be construed to limit the right of the Company, any Parent Corporation or any Subsidiary
Corporation (a) to establish any other forms of incentives or compensation for employees of the
Company, any Parent Corporation or any Subsidiary Corporation or (b) to grant or assume options
otherwise than under this Plan in connection with any proper corporate purpose, including, but not
by way of limitation, the grant or assumption of options in connection with the acquisition, by
purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any
corporation, firm or association.

17. CONDITIONS TO ISSUANCE OF STOCK CERTIFICATES.

     The Company shall not be required to issue or deliver any certificate or certificates for
shares of Stock purchased upon the exercise of Options prior to fulfillment of all the following
conditions:

     (a) The admission of such shares to listing on all stock exchanges, if any, on which the Stock
is then listed; and

     (b) The completion of any registration or other qualification of such shares under any state
or federal law or under the rulings or regulations of the Securities and Exchange Commission or any
other governmental regulatory body which the Committee shall, in its absolute discretion, deem
necessary or advisable; and

     (c) The obtaining of any approval or other clearance from any state or federal governmental
agency which the Committee shall, in its absolute discretion, determine to be necessary or
advisable; and

     (d) The payment to the Company of all amounts which it is required to withhold under federal,
state or local law upon exercise of the Option; and

     (e) The lapse of such reasonable period of time following the exercise of the Option as the
Committee may from time to time establish for reasons of administrative convenience.

 

 

18. CONFORMITY TO SECURITIES LAWS

     Notwithstanding any other provision of this Plan, the participation in this Plan and all
elections thereunder shall be subject to, and may be limited by, such rules and restrictions as the
Committee may prescribe in order to comply with all applicable federal and state securities laws.
Without limiting the generality of the foregoing, this Plan and participation in this Plan by any
individual who is then subject to Section 16 of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”) shall be subject to any additional limitations set forth in any applicable
exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the
Exchange Act) that are requirements for the application of such exemptive rule. To the extent
permitted by applicable law, the Plan shall be deemed amended to the
extent necessary to conform to such applicable exemptive rule.

19. NOTIFICATION OF DISPOSITION

     Each Participant shall give prompt notice to the Company of any disposition or other transfer
of any shares of Stock purchased upon exercise of an Option if such disposition or transfer is made
(a) within two (2) years from the Date of Grant of the Option or (b) within one (1) year after the
transfer of such shares to such Participant upon exercise of such Option. Such notice shall
specify the date of such disposition or other transfer and the amount realized, in cash, other
property, assumption of indebtedness or other consideration, by the Participant in such disposition
or other transfer.

20. NOTICES

     Any notice to be given under the terms of the Plan to the Company shall be addressed to the
Company in care of its Secretary and any notice to be given to any Eligible Employee or Participant
shall be addressed to such Employee at such Employee’s last address as reflected in the Company’s
records. By a notice given pursuant to this Section, either party may designate a different
address for notices to be given to it, him or her. Any notice which is required to be given to an
Eligible Employee or a Participant shall, if the Eligible Employee or Participant is then deceased,
be given to the Eligible Employee’s or Participant’s personal representative if such representative
has previously informed the Company of his or her status and address by written notice under this
Section. Any notice shall have been deemed duly given if personally delivered or if enclosed in a
properly sealed envelope or wrapper addressed as aforesaid at the time it is deposited (with
postage prepaid) in a post office or branch post office regularly maintained by the United States
Postal Service.

21. HEADINGS

     Headings are provided herein for convenience only and are not to serve as a basis for
interpretation or construction of the Plan.Exhibit 10.1

 

Exhibit
10.1

LEAP WIRELESS INTERNATIONAL, INC.

2004 STOCK OPTION, RESTRICTED STOCK AND

DEFERRED STOCK UNIT PLAN

RESTRICTED STOCK AWARD GRANT NOTICE AND

RESTRICTED STOCK AWARD AGREEMENT

     Leap Wireless International, Inc. (the “Company”), pursuant to its 2004 Stock Option,
Restricted Stock and Deferred Stock Unit Plan (the “Plan”), hereby grants to the holder listed
below (“Holder”), the right to purchase the number of shares of the Company’s Common Stock set
forth below (the “Shares”) at the purchase price set forth below. This Restricted Stock award is
subject to all of the terms and conditions as set forth herein and in the Restricted Stock Award
Agreement attached hereto as Exhibit A (the “Restricted Stock Agreement”) and the Plan,
each of which are incorporated herein by reference. Unless otherwise defined herein, the terms
defined in the Plan shall have the same defined meanings in this Grant Notice and the Restricted
Stock Agreement.

	 	 	 
	Holder:
	 	 
	Grant Date:
	 	 
	Purchase Price per Share:

	 	$0.0001 per share
	Total Number of Shares of Restricted
Stock:
	 	 
	Vesting Schedule:

	 	The Shares shall be released from
the Company’s Repurchase Option
set forth in Section 3.1 of the
Restricted Stock Agreement on the
dates and in the increments
indicated in Exhibit B to this
Grant Notice.

By his or her signature and the Company’s signature below, Holder agrees to be bound by the terms
and conditions of the Plan, the Restricted Stock Agreement and this Grant Notice. Holder has
reviewed the Restricted Stock Agreement, the Plan and this Grant Notice in their entirety, has had
an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully
understands all provisions of this Grant Notice, the Restricted Stock Agreement and the Plan.
Holder hereby agrees to accept as binding, conclusive and final all decisions or interpretations of
the Administrator of the Plan upon any questions arising under the Plan, this Grant Notice or the
Restricted Stock Agreement. If Holder is married, his or her spouse has signed the Consent of
Spouse attached to this Grant Notice as Exhibit C.

	 	 	 	 	 	 	 	 	 	 	 
	LEAP WIRELESS INTERNATIONAL, INC.	 	 	 	HOLDER:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Print Name:

	 	 	 	 	 	Print Name:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Title:

	 	 	 	 	 	Title:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Address:

	 	10307 Pacific Center Court
	 	 	 	Address:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	 	San Diego, California 92121	 	 	 	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 

 

 

EXHIBIT A

TO RESTRICTED STOCK AWARD GRANT NOTICE

RESTRICTED STOCK AWARD AGREEMENT

     Pursuant to the Restricted Stock Award Grant Notice (“Grant Notice”) to which this Restricted
Stock Award Agreement (this “Agreement”) is attached, Leap Wireless International, Inc. (the
“Company”) has granted to Holder the right to purchase the number of shares of Restricted Stock
under the Company’s 2004 Stock Option, Restricted Stock and Deferred Stock Unit Plan (the “Plan”)
indicated in the Grant Notice.

ARTICLE I

GENERAL

     1.1 Defined Terms. Capitalized terms not specifically defined herein shall have the
meanings specified in the Plan and the Grant Notice.

     1.2 Incorporation of Terms of Plan. The Shares are subject to the terms and
conditions of the Plan which are incorporated herein by reference.

ARTICLE II

GRANT OF RESTRICTED STOCK

     2.1 Grant of Restricted Stock. In consideration of Holder’s past and/or continued
employment with or service to the Company or its Subsidiaries and for other good and valuable
consideration, effective as of the Grant Date set forth in the Grant Notice (the “Grant Date”), the
Company irrevocably grants to Holder the right to purchase the number of shares of Common Stock set
forth in the Grant Notice (the “Shares”), upon the terms and conditions set forth in the Plan and
this Agreement.

     2.2 Purchase Price. The purchase price of the Shares shall be as set forth in the
Grant Notice, without commission or other charge. The payment of the purchase price shall be paid
by cash or check.

     2.3 Issuance of Shares. The issuance of the Shares under this Agreement shall occur
at the principal office of the Company simultaneously with the execution of this Agreement by the
parties or on such other date as the Company and Holder shall agree (the “Issuance Date”). Subject
to the provisions of Article IV below, on the Issuance Date, the Company shall issue the Shares
(which shall be issued in Holder’s name).

     2.4 Conditions to Issuance of Stock Certificates. The Shares, or any portion thereof,
may be either previously authorized but unissued shares or issued shares which have then been
reacquired by the Company. Such Shares shall be fully paid and nonassessable. The Company shall
not be required to issue or deliver any Shares prior to fulfillment of all of the following
conditions:

A-1

 

          (a) The admission of such Shares to listing on all stock exchanges on which such Common Stock
is then listed; and

          (b) The completion of any registration or other qualification of such shares under any state
or federal law or under rulings or regulations of the Securities and Exchange Commission or of any
other governmental regulatory body, which the Administrator shall, in its absolute discretion, deem
necessary or advisable; and

          (c) The obtaining of any approval or other clearance from any state or federal governmental
agency which the Administrator shall, in its absolute discretion, determine to be necessary or
advisable; and

          (d) The lapse of such reasonable period of time following the Issuance Date as the
Administrator may from time to time establish for reasons of administrative convenience; and

          (e) The receipt by the Company of full payment for such Shares, including payment of any
applicable withholding tax, which in the discretion of the Administrator may be in the form of
consideration used by Holder to pay for such Shares, subject to Section 10.4 of the Plan.

     2.5 Rights as Stockholder. Except as otherwise provided herein, upon delivery of the
Shares to the escrow holder pursuant to Article IV, Holder shall have all the rights of a
stockholder with respect to said Shares, subject to the restrictions herein, including the right to
vote the Shares and to receive all dividends or other distributions paid or made with respect to
the Shares; provided, however, that any and all cash dividends paid on such Shares and any and all
shares of Common Stock, capital stock or other securities received by or distributed to Holder with
respect to the Shares as a result of any stock dividend stock split, reverse stock split,
recapitalization, combination, reclassification, or similar change in the capital structure of the
Company shall also be subject to the Repurchase Option (as defined in Section 3.1 below) and the
restrictions on transfer in Section 3.4 below until such restrictions on the underlying Shares
lapse or are removed pursuant to this Agreement.

ARTICLE III

RESTRICTIONS ON SHARES

     3.1 Repurchase Option. Subject to the provisions of Section 3.2 below, if Holder has
a Termination of Employment, Termination of Directorship or Termination of Consultancy, as
applicable, before all of the Shares are released from the Company’s Repurchase Option (as defined
below), the Company shall, upon the date of such Termination (as reasonably fixed and determined by
the Company), have an irrevocable, exclusive option, but not the obligation, for a period of sixty
(60) days, commencing ninety (90) days after the date Holder has a Termination of Employment,
Termination of Directorship or Termination of Consultancy, as applicable, to repurchase all or any
portion of the Unreleased Shares (as defined below in Section 3.3) at such time (the “Repurchase
Option”) at the original cash purchase price per share (the “Repurchase

A-2

 

Price”). The Repurchase Option shall lapse and terminate one hundred fifty (150) days after
Holder has a Termination of Employment, Termination of Directorship or Termination of Consultancy,
as applicable. The Repurchase Option shall be exercisable by the Company by written notice to
Holder or Holder’s executor (with a copy to the escrow agent appointed pursuant to Section 4.1
below) and shall be exercisable, at the Company’s option, by delivery to Holder or Holder’s
executor with such notice of a check in the amount of the Repurchase Price times the number of
Shares to be repurchased (the “Aggregate Repurchase Price”). Upon delivery of such notice and the
payment of the Aggregate Repurchase Price, the Company shall become the legal and beneficial owner
of the Shares being repurchased and all rights and interests therein or relating thereto, and the
Company shall have the right to retain and transfer to its own name the number of Shares being
repurchased by the Company. In the event the Company repurchases any Shares under this Section 3.1,
any dividends or other distributions paid on such Shares and held by the escrow agent pursuant to
Section 4.1 and the Joint Escrow Instructions shall be promptly paid by the escrow agent to the
Company.

     3.2 Release of Shares from Repurchase Restriction. The Shares shall be released from
the Company’s Repurchase Option as indicated in Exhibit B to the Grant Notice. Any of the
Shares released from the Company’s Repurchase Option shall thereupon be released from the
restrictions on transfer under Section 3.4. In the event any of the Shares are released from the
Company’s Repurchase Option, any dividends or other distributions paid on such Shares and held by
the escrow agent pursuant to Section 4.1 and the Joint Escrow Instructions shall be promptly paid
by the escrow agent to Holder.

     3.3 Unreleased Shares. Any of the Shares which, from time to time, have not yet been
released from the Company’s Repurchase Option are referred to herein as “Unreleased Shares.”

     3.4 Restrictions on Transfer. Unless otherwise permitted by the Administrator
pursuant to the Plan, no Unreleased Shares or any dividends or other distributions thereon or any
interest or right therein or part thereof, shall be liable for the debts, contracts or engagements
of Holder or his or her successors in interest or shall be subject to disposition by transfer,
alienation, anticipation, pledge, encumbrance, assignment or any other means whether such
disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment,
garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted
disposition thereof shall be null and void and of no effect.

ARTICLE IV

ESCROW OF SHARES

     4.1 Escrow of Shares. To insure the availability for delivery of Holder’s Unreleased
Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 3.1, Holder
hereby appoints the Secretary of the Company, or any other person designated by the Administrator
as escrow agent, as his or her attorney-in-fact to assign and transfer unto the Company, such
Unreleased Shares, if any, repurchased by the Company pursuant to the Repurchase Option pursuant to
Section 3.1 and any dividends or other distributions thereon, and

A-3

 

shall, upon execution of this Agreement, deliver and deposit with the Secretary of the
Company, or such other person designated by the Administrator, any share certificates representing
the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached to the
Grant Notice as Exhibit D to the Grant Notice. The Unreleased Shares and stock assignment
shall be held by the Secretary of the Company, or such other person designated by the
Administrator, in escrow, pursuant to the Joint Escrow Instructions of the Company and Holder
attached as Exhibit E to the Grant Notice, until the Company exercises its Repurchase
Option as provided in Section 3.1, until such Unreleased Shares are released from the Company’s
Repurchase Option, or until such time as this Agreement no longer is in effect. Upon release of
the Unreleased Shares, the escrow agent shall deliver to Holder the certificate or certificates
representing such Shares in the escrow agent’s possession belonging to Holder in accordance with
the terms of the Joint Escrow Instructions attached as Exhibit E to the Grant Notice, and
the escrow agent shall be discharged of all further obligations hereunder; provided, however, that
the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so
required pursuant to other restrictions imposed pursuant to this Agreement. If the Shares are held
in book entry form, then such entry will reflect that the Shares are subject to the restrictions of
this Agreement. If any dividends or other distributions are paid on the Unreleased Shares held by
the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such dividends or
other distributions shall also be subject to the restrictions set forth in this Agreement and held
in escrow pending release of the Unreleased Shares with respect to which such dividends or other
distributions were paid from the Company’s Repurchase Option.

     4.2 Transfer of Repurchased Shares. Holder hereby authorizes and directs the
Secretary of the Company, or such other person designated by the Administrator, to transfer the
Unreleased Shares as to which the Repurchase Option has been exercised from Holder to the Company.

     4.3 No Liability for Actions in Connection with Escrow. The Company, or its designee,
shall not be liable for any act it may do or omit to do with respect to holding the Shares in
escrow and while acting in good faith and in the exercise of its judgment.

ARTICLE V

OTHER PROVISIONS

     5.1 Adjustment for Stock Split. In the event of any stock dividend, stock split,
reverse stock split, recapitalization, combination, reclassification, or similar change in the
capital structure of the Company, the Administrator shall make appropriate and equitable
adjustments in the Unreleased Shares subject to the Repurchase Option and the number of Shares,
consistent with any adjustment under Section 10.3 of the Plan. The provisions of this Agreement
shall apply, to the full extent set forth herein with respect to the Shares, to any and all shares
of capital stock or other securities which may be issued in respect of, in exchange for, or in
substitution of the Shares, and shall be appropriately adjusted for any stock dividends, splits,
reverse splits, combinations, recapitalizations and the like occurring after the date hereof.

A-4

 

     5.2 Taxes. Holder has reviewed with Holder’s own tax advisors the federal, state,
local and foreign tax consequences of this investment and the transactions contemplated by the
Grant Notice and this Agreement. Holder is relying solely on such advisors and not on any
statements or representations of the Company or any of its agents. Holder understands that Holder
(and not the Company) shall be responsible for Holder’s own tax liability that may arise as a
result of this investment or the transactions contemplated by this Agreement. Holder understands
that Holder will recognize ordinary income for federal income tax purposes under Section 83 of the
Code. In this context, “restriction” includes the right of the Company to repurchase the Shares
pursuant to its Repurchase Option set forth in Section 3.1. Holder understands that Holder may
elect to be taxed for federal income tax purposes at the time the Shares are purchased rather than
as and when the Repurchase Option lapses by filing an election under Section 83(b) of the Code with
the Internal Revenue Service within thirty (30) days from the date of purchase. A form of election
under Section 83(b) of the Code is attached to the Grant Notice as Exhibit F.

     HOLDER ACKNOWLEDGES THAT IT IS HOLDER’S SOLE RESPONSIBILITY AND NOT THE COMPANY’S TO TIMELY
FILE THE ELECTION UNDER SECTION 83(b), EVEN IF HOLDER REQUESTS THE COMPANY OR ITS REPRESENTATIVES
TO MAKE THIS FILING ON HOLDER’S BEHALF

     5.3 Limitations Applicable to Section 16 Persons. Notwithstanding any other provision
of the Plan or this Agreement, if Holder is subject to Section 16 of the Exchange Act, the Plan,
the Shares and this Agreement shall be subject to any additional limitations set forth in any
applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule
16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To
the extent permitted by applicable law, this Agreement shall be deemed amended to the extent
necessary to conform to such applicable exemptive rule.

     5.4 Administration. The Administrator shall have the power to interpret the Plan and
this Agreement and to adopt such rules for the administration, interpretation and application of
the Plan as are consistent therewith and to interpret, amend or revoke any such rules. All actions
taken and all interpretations and determinations made by the Administrator in good faith shall be
final and binding upon Holder, the Company and all other interested persons. No member of the
Administrator shall be personally liable for any action, determination or interpretation made in
good faith with respect to the Plan, this Agreement or the Shares. In its absolute discretion, the
Board may at any time and from time to time exercise any and all rights and duties of the
Administrator under the Plan and this Agreement.

     5.5 Restrictive Legends and Stop-Transfer Orders.

          (a) Any share certificate(s) evidencing the Shares issued hereunder shall be endorsed with the
following legend and any other legend required by any applicable federal and state securities laws:

A-5

 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A RIGHT OF REPURCHASE IN
FAVOR OF THE COMPANY AND MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF A
RESTRICTED STOCK AWARD AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF
WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.

          (b) Holder agrees that, in order to ensure compliance with the restrictions referred to
herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if
any, and that, if the Company transfers its own securities, it may make appropriate notations to
the same effect in its own records.

          (c) The Company shall not be required: (i) to transfer on its books any shares of Common Stock
that have been sold or otherwise transferred in violation of any of the provisions of this
Agreement, or (ii) to treat as owner of such shares of Common Stock or to accord the right to vote
or pay dividends to any purchaser or other transferee to whom such shares shall have been so
transferred.

     5.6 Notices. Any notice to be given under the terms of this Agreement to the Company
shall be addressed to the Company in care of the Secretary of the Company, and any notice to be
given to Holder shall be addressed to Holder at the address given beneath Holder’s signature on the
Grant Notice. By a notice given pursuant to this Section 5.6, either party may hereafter designate
a different address for notices to be given to that party. Any notice shall be deemed duly given
when sent via email or when sent by certified mail (return receipt requested) and deposited (with
postage prepaid) in a post office or branch post office regularly maintained by the United States
Postal Service.

     5.7 Titles. Titles are provided herein for convenience only and are not to serve as a
basis for interpretation or construction of this Agreement.

     5.8 Governing Law; Severability. This Agreement shall be administered, interpreted
and enforced under the laws of the State of Delaware without regard to conflicts of laws thereof.
Should any provision of this Agreement be determined by a court of law to be illegal or
unenforceable, the other provisions shall nevertheless remain effective and shall remain
enforceable.

     5.9 Conformity to Securities Laws. Holder acknowledges that the Plan is intended to
conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and
any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder,
and state securities laws and regulations. Notwithstanding anything herein to the contrary, the
Plan shall be administered, and the Shares are to be issued, only in such a manner as to conform to
such laws, rules and regulations. To the extent permitted by applicable law, the Plan and this
Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and
regulations.

A-6

 

     5.10 Amendments. This Agreement may not be modified, amended or terminated except by
an instrument in writing, signed by Holder and by a duly authorized representative of the Company.

     5.11 No Employment Rights. If Holder is an Employee, nothing in the Plan or this
Agreement shall confer upon Holder any right to continue in the employ of the Company or any
Subsidiary or shall interfere with or restrict in any way the rights of the Company and its
Subsidiaries, which are expressly reserved, to discharge Holder at any time for any reason
whatsoever, with or without cause, except to the extent expressly provided otherwise in a written
agreement between the Company and Holder.

     5.12 Successors and Assigns. The Company may assign any of its rights under this
Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the
successors and assigns of the Company. Subject to the restrictions on transfer herein set forth,
this Agreement shall be binding upon Holder and his or her heirs, executors, administrators,
successors and assigns.

A-7

 

EXHIBIT B

TO RESTRICTED STOCK AWARD GRANT NOTICE

VESTING PROVISIONS

     Capitalized terms used in this Exhibit B and not defined below shall have the meanings
given them in the Agreement to which this Exhibit B is attached.

     1. Time-Based Vesting. Subject to any accelerated release pursuant to Section 2
below, if Holder is an Employee, Director or Consultant on each of the vesting dates, the
Unreleased Shares shall be released from the Company’s Repurchase Option, as follows:

No. of Shares                     Vesting Date

 

 

 

     2. Change in Control Accelerated Vesting. In the event of a Change in Control, if
Holder is an Employee, Director or Consultant immediately prior to such Change in Control, the
Unreleased Shares immediately prior to such Change in Control shall be released from the Company’s
Repurchase Option on the date of the Change in Control.

     3. Limit on Release of Shares. In no event will more than 100% of the Unreleased
Shares be released from the Company’s Repurchase Option pursuant to the provisions of this
Exhibit B.

B-1

 

EXHIBIT C

TO RESTRICTED STOCK AWARD GRANT NOTICE

CONSENT OF SPOUSE

     I,                                                             , spouse of                                                             , have read and
approve the foregoing Agreement. In consideration of issuing to my spouse the shares of the common
stock of Leap Wireless International, Inc. set forth in the Agreement, I hereby appoint my spouse
as my attorney-in-fact in respect to the exercise of any rights under the Agreement and agree to be
bound by the provisions of the Agreement insofar as I may have any rights in said Agreement or any
shares of the common stock of Leap Wireless International, Inc. issued pursuant thereto under the
community property laws or similar laws relating to marital property in effect in the state of our
residence as of the date of the signing of the foregoing Agreement.

	 	 	 
	Dated:                     , 2006
	 	 
	 

	 	 
	 

	 	Signature of Spouse

C-1

 

EXHIBIT D

TO RESTRICTED STOCK AWARD GRANT NOTICE

STOCK ASSIGNMENT

     FOR
VALUE RECEIVED, the undersigned,                     , hereby sells, assigns and transfers unto LEAP WIRELESS
INTERNATIONAL, INC., a Delaware corporation,
                     shares of the Common Stock of LEAP WIRELESS
INTERNATIONAL, INC., a Delaware corporation, standing in its name of the books of said corporation
represented by Certificate No.                      herewith and do hereby irrevocably constitute and appoint
                                         to transfer the said stock on the books of the within named corporation with
full power of substitution in the premises.

     This Stock Assignment may be used only in accordance with the Restricted Stock Award Agreement
between LEAP WIRELESS INTERNATIONAL, INC. and the undersigned dated                     , 2006.

	 	 	 	 	 
	Dated:                                         ,                     
	 	 	 	 
	 

	 	 

[Name of Holder]
	 	 

     INSTRUCTIONS: Please do not fill in the blanks other than the signature line. The purpose of
this assignment is to enable the Company to exercise its “Repurchase Option,” as set forth in the
Restricted Stock Award Agreement, without requiring additional signatures on the part of Holder.

D-1

 

EXHIBIT E

TO RESTRICTED STOCK AWARD GRANT NOTICE

JOINT ESCROW INSTRUCTIONS

                                        , 200_

Secretary

Leap Wireless International, Inc.

10307 Pacific Center Court

San Diego, California 92121

Ladies and Gentlemen:

     As escrow agent (the “Escrow Agent”) for both Leap Wireless International, Inc., a Delaware
corporation (the “Company”), and the undersigned recipient of stock of the Company (the “Holder”),
you are hereby authorized and directed to hold in escrow the documents delivered to you pursuant to
the terms of that certain Restricted Stock Award Agreement (“Agreement”) between the Company and
the undersigned (the “Escrow”), including the stock certificate and the Assignment in Blank, in
accordance with the following instructions:

     1. In the event the Company and/or any assignee of the Company (referred to collectively for
convenience herein as the “Company”) exercises the Company’s Repurchase Option as defined in the
Agreement), the Company shall give to the Holder and you a written notice specifying the number of
shares of stock to be purchased, the purchase price and the time for a closing hereunder at the
principal office of the Company. The Holder and the Company hereby irrevocably authorize and
direct you to close the transaction contemplated by such notice in accordance with the terms of
said notice.

     2. As of the date of closing of the repurchase indicated in such notice, you are directed (a)
to date the stock assignments necessary for the repurchase and transfer in question, (b) to fill in
the number of shares being repurchased and transferred, and (c) to deliver the same, together with
the certificate evidencing the shares of stock to be repurchased and transferred, to the Company or
its assignee.

     3. Holder irrevocably authorizes the Company to deposit with you any certificates evidencing
shares of stock to be held by you hereunder and any additions and substitutions to said shares as
defined in the Agreement. Holder does hereby irrevocably constitute and appoint you as Holder’s
attorney-in-fact and agent for the term of this escrow to execute with respect to such securities
all documents necessary or appropriate to make such securities negotiable and to complete any
transaction herein contemplated, including but not limited to the filing with any applicable state
blue sky authority of any required applications for consent to, or notice of transfer of, the
securities. Subject to the provisions of this paragraph and the Agreement, Holder shall exercise
all rights and privileges of a stockholder of the Company while the stock is held by you.

E-1

 

     4. Upon written request of Holder, but no more than once per calendar month, unless the
Company’s Repurchase Option has been exercised, you will deliver to Holder a certificate or
certificates representing so many shares of stock as are not then subject to the Repurchase Option.
At the written request of Holder, on or prior to the later of (i) one-hundred sixty (160) days
after any voluntary or involuntary termination of Holder’s services to the Company for any or no
reason and (ii) ten (10) days after your receipt of Holder’s written request, you will deliver to
Holder a certificate or certificates representing the aggregate number of shares held or issued
pursuant to the Agreement and not repurchased pursuant to the Repurchase Option set forth in
Section 3.1 of the Agreement.

     5. If at the time of termination of this escrow you should have in your possession any
documents, securities, or other property belonging to Holder, you shall deliver all of the same to
the Holder and shall be discharged of all further obligations hereunder.

     6. Your duties hereunder may be altered, amended, modified or revoked only by a writing signed
by all of the parties hereto.

     7. You shall be obligated only for the performance of such duties as are specifically set
forth herein and may rely and shall be protected in relying or refraining from acting on any
instrument reasonably believed by you to be genuine and to have been signed or presented by the
proper party or parties. You shall not be personally liable for any act you may do or omit to do
hereunder as Escrow Agent or as attorney-in-fact for Holder while acting in good faith, and any act
done or omitted by you pursuant to the advice of your own attorneys shall be conclusive evidence of
such good faith.

     8. You are hereby expressly authorized to disregard any and all warnings given by any of the
parties hereto or by any other person or corporation, excepting only orders or process of courts of
law and are hereby expressly authorized to comply with and obey orders, judgments or decrees of any
court. In case you obey or comply with any such order, judgment or decree, you shall not be liable
to any of the parties hereto or to any other person, firm or corporation by reason of such
compliance, notwithstanding any such order, judgment or decree being subsequently reversed,
modified, annulled, set aside, vacated or found to have been entered without jurisdiction.

     9. You shall not be liable in any respect on account of the identity, authorities or rights of
the parties executing or delivering or purporting to execute or deliver the Agreement or any
documents or papers deposited or called for hereunder.

     10. You shall not be liable for the expiration of any rights under any applicable state,
federal or local statute of limitations or similar statute or regulation with respect to these
Joint Escrow Instructions or any documents deposited with you.

     11. You shall be entitled to employ such legal counsel and other experts as you may deem
necessary properly to advise you in connection with your obligations hereunder, may rely upon the
advice of such counsel, and may pay such counsel reasonable compensation therefor. The Company will
reimburse you for any reasonable attorneys’ fees with respect thereto.

E-2

 

     12. Your responsibilities as Escrow Agent hereunder shall terminate if you shall cease to be
an officer or agent of the Company or if you shall resign by written notice to each party. In the
event of any such termination, the Company shall appoint a successor Escrow Agent.

     13. If you reasonably require other or further instruments in connection with these Joint
Escrow Instructions or obligations in respect hereto, the necessary parties hereto shall join in
furnishing such instruments.

     14. It is understood and agreed that should any dispute arise with respect to the delivery
and/or ownership or right of possession of the securities held by you hereunder, you are authorized
and directed to retain in your possession without liability to anyone all or any part of said
securities until such disputes shall have been settled either by mutual written agreement of the
parties concerned or by a final order, decree or judgment of a court of competent jurisdiction
after the time for appeal has expired and no appeal has been perfected, but you shall be under no
duty whatsoever to institute or defend any such proceedings.

     15. Any notice to be given under the terms of this Agreement to the Company shall be addressed
to the Company in care of the Secretary of the Company, and any notice to be given to the Holder or
you shall be addressed to the address given beneath Holder’s and your signatures on the signature
page to this Agreement. By a notice given pursuant to this Section 15, any party may hereafter
designate a different address for notices to be given to that party. Any notice, which is required
to be given to Holder, shall, if the Holder is then deceased, be given to Holder’s designated
beneficiary, if any by written notice under this Section 15. Any notice shall be deemed duly given
when sent via email or when sent by certified mail (return receipt requested) and deposited (with
postage prepaid) in a post office or branch post office regularly obtained by the United States
Postal Service.

     16. By signing these Joint Escrow Instructions, you become a party hereto only for the purpose
of said Joint Escrow Instructions; you do not become a party to the Agreement.

     17. This instrument shall be binding upon and inure to the benefit of the parties hereto, and
their respective successors and permitted assigns.

     18. These Joint Escrow Instructions shall be governed by, and construed and enforced in
accordance with, the laws of the State of Delaware, without regard to conflicts of law thereof.

(Signature Page Follows)

E-3

 

 

     IN WITNESS WHEREOF, the parties have executed these Joint Escrow Instructions as of the
date first written above.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	LEAP WIRELESS INTERNATIONAL, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name: S. Douglas Hutcheson
	 	 
	 

	 	 	 	Title: President and CEO	 	 
	 
	 	 	 	 	 	 
	 	 	Address: 10307 Pacific Center Court
                San Diego, California 92121	 	 
	 
	 	 	 	 	 	 
	 	 	HOLDER:	 	 
	 
	 	 	 	 

	 	 	 	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 
	 

	 	 	 	 

	 	 

	 	 	 	 	 
	ESCROW AGENT:	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Robert Irving,
	 	 
	 

	 	Secretary, Leap Wireless International, Inc.	 	 
	 
	 	 	 	 
	Address: 10307 Pacific Center Court
                San Diego, California 92121	 	 

E-4

 

 

EXHIBIT F

TO RESTRICTED STOCK AWARD GRANT NOTICE

FORM OF 83(B) ELECTION AND INSTRUCTIONS

     These instructions are provided to assist you if you choose to make an election under Section
83(b) of the Internal Revenue Code, as amended, with respect to the shares of common stock, par
value $0.0001, of Leap Wireless International, Inc. transferred to you. Please consult with your
personal tax advisor as to whether an election of this nature will be in your best interests in
light of your personal tax situation.

     The executed original of the Section 83(b) election must be filed with the Internal Revenue
Service not later than 30 days after the date the shares were transferred to you. PLEASE NOTE:
There is no remedy for failure to file on time. The steps outlined below should be followed to
ensure the election is mailed and filed correctly and in a timely manner. ALSO, PLEASE NOTE: If
you make the Section 83(b) election, the election is irrevocable.

	1.	 	Complete Section 83(b) election form (attached as Attachment 1) and make four (4)
copies of the signed election form. (Your spouse, if any, should sign Section 83(b) election
form as well.)
	 
	2.	 	Prepare the cover letter to the Internal Revenue Service (sample letter attached as
Attachment 2).
	 
	3.	 	Send the cover letter with the originally executed Section 83(b) election form and one (1)
copy via certified mail, return receipt requested to the Internal Revenue Service at the
address of the Internal Revenue Service where you file your personal tax returns. We suggest
that you have the package date-stamped at the post office. The post office will provide you
with a white certified receipt that includes a dated postmark. Enclose a self-addressed,
stamped envelope so that the Internal Revenue Service may return a date-stamped copy to you.
However, your postmarked receipt is your proof of having timely filed the Section 83(b)
election if you do not receive confirmation from the Internal Revenue Service.
	 
	4.	 	One (1) copy must be sent to Leap Wireless International, Inc. for its records and one (1)
copy must be attached to your federal income tax return for the applicable calendar year.
	 
	5.	 	Retain the Internal Revenue Service file stamped copy (when returned) for your records.

     Please consult your personal tax advisor for the address of the office of the Internal Revenue
Service to which you should mail your election form.

F-1

 

 

ATTACHMENT 1 TO EXHIBIT F

ELECTION UNDER INTERNAL REVENUE CODE SECTION 83(B)

            
The undersigned taxpayer hereby elects, pursuant to Section 83(b) of the Internal Revenue Code
of 1986, as amended, to include in taxpayer’s gross income for the current taxable year the amount
of any compensation taxable to taxpayer in connection with taxpayer’s receipt of shares (the
“Shares”) of Common Stock, par value $0.0001 per share, of Leap Wireless International, Inc., a
Delaware corporation (the “Company”).

	 	 	 	 	 
	1.	 	The name, address and taxpayer identification number of the undersigned taxpayer are:
	 
	 	 	 	 
	 

	 	 

	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	SSN:	 	 
	 
	 	 	 	 
	 	 	The name, address and taxpayer identification number of the Taxpayer’s spouse are (complete
if applicable):
	 
	 	 	 	 
	 

	 	 

	 	 
	 

	 	 

	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	SSN:	 	 
	 
	 	 	 	 
	2.	 	Description of the property with respect to which the election is being made:
	 
	 	 	 	 
	 	 	__________________(_____) shares of Common Stock, par value $0.0001 per share, of the
Company.
	 
	 	 	 	 
	3.	 	The date on which the property was transferred was ______________. The taxable year to which
this election relates is calendar year 200_.
	 
	 	 	 	 
	4.	 	Nature of restrictions to which the property is subject:
	 
	 	 	 	 
	 	 	The Shares are subject to repurchase at their original purchase price if unvested as of the
date of termination of employment, directorship or consultancy with the Company.
	 
	 	 	 	 
	5.	 	The fair market value at the time of transfer (determined without regard to any lapse
restrictions, as defined in Treasury Regulation Section 1.83-3(a)) of the Shares was
$  per Share.
	 
	 	 	 	 
	6.	 	The amount paid by the taxpayer for Shares was per share.
	 
	 	 	 	 
	7.	 	A copy of this statement has been furnished to the Company.

	 	 	 
	Dated:                                         , 200_

	 	Taxpayer Signature                                                            

F-1-1

 

The undersigned spouse of Taxpayer joins in this election. (Complete if applicable).

Dated:                     , 200___                              Spouse’s Signature                                         

Signature(s) Notarized by:

                                        

                                        

F-1-2

 

ATTACHMENT
2 TO EXHIBIT F

SAMPLE
COVER LETTER TO INTERNAL REVENUE SERVICE

                                        , 200_

VIA CERTIFIED MAIL

RETURN RECEIPT REQUESTED

Internal Revenue Service

[Address where taxpayer files returns]

	 	 	 	 	 	 	 	 	 	 	 
	Re:	 	Election under Section 83(b) of the Internal Revenue Code of 1986
	 

	 	Taxpayer:	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Taxpayer’s Social Security Number:	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	Taxpayer’s Spouse:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Taxpayer’s Spouse’s Social Security Number:	 	 
	 

	 	 	 	 	 	 	 	 	 	 

Ladies and Gentlemen:

     Enclosed please find an original and one copy of an Election under Section 83(b) of the
Internal Revenue Code of 1986, as amended, being made by the taxpayer referenced above. Please
acknowledge receipt of the enclosed materials by stamping the enclosed copy of the Election and
returning it to me in the self-addressed stamped envelope provided herewith.

	 	 	 	 	 
	 

	 	Very truly yours,
	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 

Enclosures

cc:     Leap Wireless International, Inc.

F-2-1

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