Document:

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                                                                    EXHIBIT 4.10

                                                                  EXECUTION COPY

                                [FORM OF WARRANT]

THIS SECURITY AND THE SHARES OF CLASS A COMMON STOCK ISSUABLE UPON EXERCISE OF
THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT") OR ANY STATE SECURITIES LAWS. NEITHER THIS
SECURITY, THE SHARES OF CLASS A COMMON STOCK ISSUABLE UPON EXERCISE OF THIS
SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN OR THEREIN MAY BE REOFFERED,
SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE
ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT
SUBJECT TO, REGISTRATION. EACH PURCHASER OF THIS SECURITY IS HEREBY NOTIFIED
THAT THE SELLER OF THIS SECURITY MAY BE RELYING ON THE EXEMPTION FROM THE
PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER.

THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, (1) AGREES TO OFFER, SELL
OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE "RESALE RESTRICTION
TERMINATION DATE") WHICH IS TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE
HEREOF AND THE LAST DATE ON WHICH CLEARWIRE CORPORATION OR ANY AFFILIATE OF
CLEARWIRE CORPORATION WAS THE OWNER OR ISSUER OF THIS SECURITY (OR ANY
PREDECESSOR OF SUCH SECURITY) ONLY (A) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT, (B) TO THE COMPANY, (C) TO AN INSTITUTIONAL
"ACCREDITED INVESTOR" (WITHIN THE MEANING OF RULE 501(A)(1), (2), (3) OR (7) OF
REGULATION D UNDER THE SECURITIES ACT), (D) TO A PERSON WHOM THE HOLDER
REASONABLY BELIEVES IS A "QUALIFIED INSTITUTIONAL BUYER" (AS DEFINED IN RULE
144A UNDER THE SECURITIES ACT) PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT
OF A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE
SECURITIES ACT, (E) OUTSIDE THE UNITED STATES IN ACCORDANCE WITH RULE 904 UNDER
THE SECURITIES ACT, (F) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY
RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), OR (G) PURSUANT TO ANOTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT,
SUBJECT TO THE COMPANY'S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER
PURSUANT TO CLAUSE (G) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL,
CERTIFICATION AND/OR OTHER INFORMATION REASONABLY SATISFACTORY TO IT, AND (2)
AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST
HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. AS
USED HEREIN, THE TERMS "OFFSHORE TRANSACTION," "UNITED STATES" AND "U.S. PERSON"
HAVE THE MEANINGS GIVEN TO THEM BY RULE 902 OF REGULATION S UNDER THE SECURITIES
ACT. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE
RESTRICTION TERMINATION DATE.

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THE HOLDER OF THIS SECURITY IS ENTITLED TO THE BENEFITS OF A SECURITIES PURCHASE
AGREEMENT, DATED AS OF AUGUST 5, 2005 BY AND AMONG THE COMPANY, THE GUARANTORS
AND THE BUYERS REFERRED TO THEREIN (THE "SECURITIES PURCHASE AGREEMENT") AND, BY
ITS ACCEPTANCE HEREOF, AGREES TO BE BOUND BY AND TO COMPLY WITH THE PROVISIONS
OF SUCH SECURITIES PURCHASE AGREEMENT. THE HOLDER OF THIS SECURITY IS ENTITLED
TO THE BENEFITS OF A REGISTRATION RIGHTS AGREEMENT, DATED AS OF AUGUST 5, 2005
BY AND AMONG THE COMPANY AND THE BUYERS REFERRED TO THEREIN (THE "REGISTRATION
RIGHTS AGREEMENT") AND, BY ITS ACCEPTANCE HEREOF, AGREES TO BE BOUND BY AND TO
COMPLY WITH THE PROVISIONS OF SUCH REGISTRATION RIGHTS AGREEMENT. NO TRANSFER OF
THIS WARRANT SHALL BE MADE WITHOUT COMPLYING WITH THE PROVISIONS OF SECTION 7(a)
OF THIS WARRANT.

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                              CLEARWIRE CORPORATION

                    WARRANT TO PURCHASE CLASS A COMMON SHARES

Warrant No.: SPA-__
Number of Class A Common Shares: [___________]
Date of Issuance: August 5, 2005 ("ISSUANCE DATE")

     Clearwire Corporation, a corporation incorporated under the laws of the
state of Delaware (the "COMPANY"), hereby certifies that, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
[BUYER], the registered holder hereof or its permitted assigns (the "HOLDER"),
is entitled, subject to the terms set forth below, to purchase from the Company,
at the Exercise Price (as defined below) then in effect, upon surrender of this
Warrant to purchase Class A Common Shares (as defined herein) (including any
Warrants to purchase Class A Common Shares issued in exchange, transfer or
replacement hereof, the "WARRANT"), at any time or times on or after (the
"WARRANT EXERCISE ELIGIBILITY DATE") the earliest of (x) the date of
effectiveness of a Qualified IPO or a transaction that results in a Qualified
IPO (as defined in that certain Indenture, dated as of August 5, 2005, by and
among the Company, the guarantors and The Bank of New York, as trustee (the
"INDENTURE")), (y) the date of effectiveness of any other registration of the
Class A Common Shares and/or the Class B Common Shares (as defined herein, and
together with the Class A Common Shares, the "COMMON SHARES") under the
Securities Act or under the Exchange Act (each as defined herein) (including,
without limitation, through the merger or consolidation of the Company into a
Person with a class of equity securities registered under the Exchange Act) or
any public offering of Common Shares other than pursuant to a Qualified IPO or
(z) in contemplation of, upon and following a Change of Control (as defined
below), but not after 11:59 p.m., New York Time, on the Expiration Date (as
defined below), [_____] fully paid nonassessable Class A Common Shares (the
"WARRANT SHARES"). Except as otherwise defined herein, capitalized terms in this
Warrant shall have the meanings set forth in Section 16. This Warrant is one of
the Warrants to purchase Class A Common Shares (the "SPA WARRANTS") issued
pursuant to Section 1 of that certain Securities Purchase Agreement (the
"SECURITIES PURCHASE AGREEMENT"), dated as of August 5, 2005 (the "SUBSCRIPTION
DATE"), by and among the Company and the investors referred to therein (the
"BUYERS").

1.   EXERCISE OF WARRANT.

     (a)  Mechanics of Exercise. Subject to the terms and conditions hereof
          (including, without limitation, the limitations set forth in Section
          1(f)), this Warrant may be exercised by the Holder on any day on or
          after the Warrant Exercise Eligibility Date, in whole or in part, by
          (i) delivery by facsimile with a confirmatory written notice by
          overnight delivery, in the form attached hereto as Exhibit A (the
          "EXERCISE NOTICE"), of the Holder's election to exercise this Warrant,
          (ii) delivery of a signed letter substantially in the form attached
          hereto as Exhibit B (the "RECERTIFICATION LETTER"), and (iii)(A)
          payment to the Company of an amount equal to the applicable Exercise
          Price multiplied by the number of Warrant Shares as to which this
          Warrant is being exercised (the "AGGREGATE EXERCISE PRICE") in

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          cash or wire transfer of immediately available funds or (B) by
          notifying the Company that this Warrant is being exercised pursuant to
          a Cashless Exercise (as defined in Section 1(d)). The Holder shall not
          be required to deliver the original Warrant in order to effect an
          exercise hereunder. Execution and delivery of the Exercise Notice with
          respect to less than all of the Warrant Shares shall have the same
          effect as cancellation of the original Warrant and issuance of a new
          Warrant evidencing the right to purchase the remaining number of
          Warrant Shares. On or before the second Business Day following the
          date on which the Company has received each of the Exercise Notice,
          the Recertification Letter and the Aggregate Exercise Price (or notice
          of a Cashless Exercise) (the "EXERCISE DELIVERY DOCUMENTS"), the
          Company shall transmit by facsimile an acknowledgment of confirmation
          of receipt of the Exercise Delivery Documents to the Holder and the
          Company's transfer agent (the "TRANSFER AGENT"). On or before the
          third Business Day following the date on which the Company has
          received all of the Exercise Delivery Documents (the "SHARE DELIVERY
          DATE"), the Company shall, subject to applicable law (X) provided that
          the Transfer Agent is participating in The Depository Trust Company
          ("DTC") Fast Automated Securities Transfer Program, upon the request
          of the Holder, credit such aggregate number of Class A Common Shares
          to which the Holder is entitled pursuant to such exercise to the
          Holder's or its designee's balance account with DTC through its
          Deposit Withdrawal Agent Commission system, or (Y) if the Transfer
          Agent is not participating in the DTC Fast Automated Securities
          Transfer Program, issue and dispatch by overnight courier to the
          address as specified in the Exercise Notice, a certificate, registered
          in the Company's share register in the name of the Holder or its
          designee, for the number of Class A Common Shares to which the Holder
          is entitled pursuant to such exercise. Upon delivery of the Exercise
          Notice and Aggregate Exercise Price referred to in clause (iii)(A)
          above or notification to the Company of a Cashless Exercise referred
          to in Section 1(d), the Holder shall be deemed for all corporate
          purposes to have become the holder of record of the Warrant Shares
          with respect to which this Warrant has been exercised, irrespective of
          the date of delivery of the certificates evidencing such Warrant
          Shares. If this Warrant is submitted in connection with any exercise
          pursuant to this Section 1(a) and the number of Warrant Shares
          represented by this Warrant submitted for exercise is greater than the
          number of Warrant Shares being acquired upon an exercise, then the
          Company shall as soon as practicable and in no event later than three
          Business Days after any exercise and at its own expense, issue a new
          Warrant (in accordance with Section 7(d)) representing the right to
          purchase the number of Warrant Shares purchasable immediately prior to
          such exercise under this Warrant, less the number of Warrant Shares
          with respect to which this Warrant is exercised. No fractional Class A
          Common Shares are to be issued upon the exercise of this Warrant, but
          rather the number of Class A Common Shares to be issued shall be
          rounded up to the nearest whole number. If a Holder exercises a
          Warrant, the Company shall pay any transfer, stamp or similar taxes or
          duties related to the issue or delivery of Class A Common Shares upon
          such exercise. In addition, the Holder shall pay any such tax which is
          due because the Holder requests the shares to be issued in a name
          other than the Holder's name. The Transfer Agent may refuse to deliver
          the certificate

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          representing the Class A Common Shares being issued in a name other
          than the Holder's name until the Transfer Agent receives a sum
          sufficient to pay any tax which will be due because such shares are to
          be issued in a name other than the Holder's name. Nothing herein shall
          preclude any tax withholding required by law or regulation.

     (b)  Exercise Price. For purposes of this Warrant, "EXERCISE PRICE" means,
          subject to adjustment as provided herein, the lesser of (x) $5.00 and
          (y) the arithmetic average of the Volume Weighted Average Price of the
          Class A Common Shares on the Principal Market for the first twenty
          (20) Trading Days after the expiration (the "QUALIFIED IPO LOCK-UP
          EXPIRATION DATE") of any lock-up restrictions which the Holder entered
          into in connection with a Qualified IPO; provided, that, if (i) the
          Qualified IPO Lock-Up Expiration Date has not occurred or (ii) a
          Qualified IPO has not yet occurred on or before the date of exercise,
          the Exercise Price shall mean $5.00.

     (c)  Company's Failure to Timely Deliver Securities. Subject to Section 13,
          if within three (3) Trading Days after the Company's receipt of the
          facsimile copy of an Exercise Notice, with confirmatory notice by
          overnight delivery, the Company shall fail to issue and deliver a
          certificate to the Holder and register such Class A Common Shares on
          the Company's share register or credit the Holder's balance account
          with DTC for the number of Class A Common Shares to which the Holder
          is entitled upon such holder's exercise hereunder, and if on or after
          such Trading Day the Holder purchases (in an open market transaction
          or otherwise) Class A Common Shares to deliver in satisfaction of a
          sale by the Holder of Class A Common Shares issuable upon such
          exercise that the Holder anticipated receiving from the Company (a
          "BUY-IN"), then the Company shall, within three Business Days after
          the Holder's request, pay cash to the Holder in an amount equal to the
          Holder's total purchase price (including brokerage commissions, if
          any) for the Class A Common Shares so purchased (the "BUY-IN PRICE"),
          at which point the Company's obligation to deliver such certificate
          (and to issue such Class A Common Shares) shall terminate.

     (d)  Cashless Exercise. Notwithstanding anything contained herein to the
          contrary, the Holder may, in its sole discretion, exercise this
          Warrant in whole or in part and, in lieu of making the cash payment
          otherwise contemplated to be made to the Company upon such exercise in
          payment of the Aggregate Exercise Price, elect instead to receive upon
          such exercise the "Net Number" of Class A Common Shares determined
          according to the following formula (a "CASHLESS EXERCISE"):

               Net Number = (A x B)-(A x C)
                            ---------------
                                   B

               For purposes of the foregoing formula:

          A= the total number of shares with respect to which this Warrant is
          then being exercised.

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          B= the arithmetic average of the Volume Weighted Average Price of the
          Class A Common Shares during the twenty (20) Trading Days immediately
          preceding the date of the Exercise Notice.

          C= the Exercise Price then in effect for the applicable Warrant Shares
          at the time of such exercise.

     (e)  Disputes. In the case of a dispute as to the determination of the
          Exercise Price or the arithmetic calculation of the Warrant Shares,
          the Company shall promptly issue to the Holder the number of Warrant
          Shares that are not disputed and resolve such dispute in accordance
          with Section 13.

     (f)  Limitations on Exercises; Beneficial Ownership. Other than in
          contemplation of, upon and following a Change of Control, the Company
          shall not effect the exercise of this Warrant, and the Holder shall
          not have the right to exercise this Warrant, to the extent that after
          giving effect to such exercise, the Holder (together with the Holder's
          affiliates) would beneficially own in excess of 4.99% (the "EXERCISE
          LIMITATION") of the Class A Common Shares outstanding immediately
          after giving effect to such exercise. For purposes of the foregoing
          sentence, the Class A Common Shares beneficially owned by the Holder
          and its affiliates shall include the Class A Common Shares issuable
          upon exercise of the Warrants with respect to which the determination
          of such sentence is being made, but shall exclude the Class A Common
          Shares which would be issuable upon (i) exercise of the remaining,
          unexercised portion of the Warrants beneficially owned by the Holder
          or any of its affiliates and (ii) exercise or conversion of the
          unexercised or nonconverted portion of any other securities of the
          Company beneficially owned by such Holder or any of its affiliates
          (including, without limitation, any notes or warrants) subject to a
          limitation on conversion or exercise analogous to the limitation
          contained herein. Except as set forth in the preceding sentence, for
          purposes of this Section 1(f), beneficial ownership shall be
          calculated in accordance with Section 13(d) of the United States
          Securities Exchange Act of 1934, as amended (the "EXCHANGE ACT"). For
          purposes of this Section 1(f), in determining the number of
          outstanding Class A Common Shares, the Holder may rely on the number
          of outstanding Class A Common Shares as reflected in (x) the Company's
          most recent public filing with the United States Securities and
          Exchange Commission (the "SEC"), as the case may be, (y) a recent
          public announcement by the Company or (z) any other notice by the
          Company or the Transfer Agent setting forth the number of Class A
          Common Shares outstanding. For any reason at any time, upon the
          written or oral request of the Holder, the Company shall within two
          (2) Business Days confirm orally and in writing to the Holder the
          number of Class A Common Shares then outstanding. In any case, the
          number of outstanding Class A Common Shares shall be determined after
          giving effect to the conversion or exercise of securities of the
          Company, including the SPA Warrants, by the Holder or its affiliates
          since the date as of which such number of outstanding Class A Common
          Shares was reported. By written notice to the Company, the Holder may
          increase or decrease the Exercise Limitation to any other percentage
          not in excess of 9.99% specified in such notice; provided that (A) any
          such increase will not be effective until the

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          sixty-first (61st) day after such notice is delivered to the Company,
          and (B) any such increase or decrease will apply only to the Holder
          and not to any other holder of SPA Warrants. Notwithstanding anything
          to the contrary, this provision shall only apply from and after the
          time that the Company shall have registered securities pursuant to
          Section 12 of the Exchange Act.

2.   ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES. The Exercise
     Price and the number of Warrant Shares shall be adjusted from time to time
     as follows:

     (a)  Adjustment Upon Issuance of Common Shares. Prior to a Qualified IPO,
          if and whenever on or after the Subscription Date the Company issues
          or sells, or in accordance with this Section 2 is deemed to have
          issued or sold, any Common Shares (including the issuance or sale of
          Common Shares owned or held by or for the account of the Company), but
          excluding Common Shares deemed to have been issued by the Company in
          connection with any Excluded Securities (as defined in Section 8(a)(i)
          below; provided, however, that, for the purposes of this Section 2(a)
          only, the number of Common Shares subject to the exclusions found in
          (C) and (D) of such definition shall not exceed 15% of the aggregate
          number of shares of Common Shares issued and outstanding on the date
          hereof on a fully-diluted basis (subject to adjustment for stock
          splits, stock dividends, recapitalizations, combinations, reverse
          stock splits or other similar events)), for a consideration per share
          (the "NEW ISSUANCE PRICE") less than a price (the "APPLICABLE PRICE")
          equal to the Exercise Price in effect immediately prior to such issue
          or sale or deemed issuance or sale (the foregoing a "DILUTIVE
          ISSUANCE"), then immediately after such Dilutive Issuance, (1) if the
          proceeds to the Company of all capital contributions and equity
          issuances since the Subscription Date that remain outstanding and are
          not repurchased or redeemed is less than $500,000,000, then the
          Exercise Price then in effect shall be reduced to an amount equal to
          the New Issuance Price, or (2) if the proceeds to the Company of all
          capital contributions and equity issuances since the Subscription Date
          that remain outstanding and are not repurchased or redeemed equals or
          exceeds $500,000,000, the Exercise Price shall be reduced to the new
          Exercise Price determined by dividing: (A) the sum of (x) the product
          derived by multiplying the Applicable Price times the number of Common
          Shares Deemed Outstanding (as defined below) immediately prior to such
          issue or sale, plus (y) the consideration, if any, received by the
          Company upon such issue or sale, by (B) the number of Common Shares
          Deemed Outstanding immediately after such issue or sale. For purposes
          of this Section 2(a), "Common Shares Deemed Outstanding" means, at any
          given time, the number of Common Shares actually outstanding at such
          time, plus the number of Common Shares deemed to be outstanding
          pursuant to Sections 2(a)(i) and 2(a)(ii) below, regardless of whether
          the Options or Convertible Securities are actually exercisable at such
          time. Upon each such adjustment of the Exercise Price hereunder, the
          number of Warrant Shares shall be adjusted to the number of Class A
          Common Shares determined by multiplying the Exercise Price in effect
          immediately prior to such adjustment by the number of Warrant Shares
          acquirable upon exercise of this Warrant immediately prior to such
          adjustment and dividing the product thereof by the Exercise Price
          resulting

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          from such adjustment. For purposes of determining the adjusted
          Exercise Price under this Section 2(a), the following shall be
          applicable:

          (i)  Issuance of Options. If the Company in any manner grants any
               Options and the lowest price per share for which one Common Share
               is issuable upon the exercise of any such Option or upon
               conversion, exercise or exchange of any Convertible Securities
               issuable upon exercise of any such Option is less than the
               Applicable Price, then such Common Share shall be deemed to be
               outstanding and to have been issued and sold by the Company at
               the time of the granting or sale of such Option for such price
               per share. For purposes of this Section 2(a)(i), the "lowest
               price per share for which one Common Share is issuable upon
               exercise of such Options or upon conversion, exercise or exchange
               of such Convertible Securities" shall be equal to the sum of the
               lowest amounts of consideration (if any) received or receivable
               by the Company with respect to any one Common Share upon the
               granting or sale of the Option, upon exercise of the Option and
               upon conversion, exercise or exchange of any Convertible Security
               issuable upon exercise of such Option. No further adjustment of
               the Exercise Price or number of Warrant Shares shall be made upon
               the actual issuance of such Common Shares or of such Convertible
               Securities upon the exercise of such Options or upon the actual
               issuance of such Common Shares upon conversion, exercise or
               exchange of such Convertible Securities.

          (ii) Issuance of Convertible Securities. If the Company in any manner
               issues or sells any Convertible Securities and the lowest price
               per share for which one Common Share is issuable upon the
               conversion, exercise or exchange thereof is less than the
               Applicable Price, then such Common Share shall be deemed to be
               outstanding and to have been issued and sold by the Company at
               the time of the issuance or sale of such Convertible Securities
               for such price per share. For the purposes of this Section
               2(a)(ii), the "lowest price per share for which one Common Share
               is issuable upon the conversion, exercise or exchange" shall be
               equal to the sum of the lowest amounts of consideration (if any)
               received or receivable by the Company with respect to one Common
               Share upon the issuance or sale of the Convertible Security and
               upon conversion, exercise or exchange of such Convertible
               Security. No further adjustment of the Exercise Price or number
               of Warrant Shares shall be made upon the actual issuance of such
               Common Shares upon conversion, exercise or exchange of such
               Convertible Securities, and if any such issue or sale of such
               Convertible Securities is made upon exercise of any Options for
               which adjustment of this Warrant has been or is to be made
               pursuant to other provisions of this Section 2(a), no further
               adjustment of the Exercise Price or number of Warrant Shares
               shall be made by reason of such issue or sale.

          (iii) Change in Option Price or Rate of Conversion. If the purchase
               price provided for in any Options, the additional consideration,
               if any, payable upon the issue, conversion, exercise or exchange
               of any Convertible

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               Securities, or the rate at which any Convertible Securities are
               convertible into or exercisable or exchangeable for Common Shares
               increases or decreases at any time, the Exercise Price and the
               number of Warrant Shares in effect at the time of such increase
               or decrease shall be adjusted to the Exercise Price and the
               number of Warrant Shares which would have been in effect at such
               time had such Options or Convertible Securities provided for such
               increased or decreased purchase price, additional consideration
               or increased or decreased conversion rate, as the case may be, at
               the time initially granted, issued or sold. For purposes of this
               Section 2(a)(iii), if the terms of any Option or Convertible
               Security that was outstanding as of the date of issuance of this
               Warrant are increased or decreased in the manner described in the
               immediately preceding sentence, then such Option or Convertible
               Security and the Common Shares deemed issuable upon exercise,
               conversion or exchange thereof shall be deemed to have been
               issued as of the date of such increase or decrease. No adjustment
               pursuant to this Section 2(a) shall be made if such adjustment
               would result in an increase of the Exercise Price then in effect
               or a decrease in the number of Warrant Shares.

          (iv) Calculation of Consideration Received. In case any Option is
               issued in connection with the issue or sale of other securities
               of the Company, together comprising one integrated transaction in
               which no specific consideration is allocated to such Options by
               the parties thereto, the Options will be deemed to have been
               issued for a consideration of US $0.01. If any Common Shares,
               Options or Convertible Securities are issued or sold or deemed to
               have been issued or sold for cash, the consideration received
               therefor will be deemed to be the net amount received by the
               Company therefor. If any Common Shares, Options or Convertible
               Securities are issued or sold for a consideration other than
               cash, the amount of such consideration received by the Company
               will be the fair value of such consideration, except where such
               consideration consists of securities, in which case the amount of
               consideration received by the Company will be the Closing Sale
               Price of such security on the date of receipt. If any Common
               Shares, Options or Convertible Securities are issued to the
               owners of the non-surviving entity in connection with any merger
               in which the Company is the surviving entity or to owners of an
               entity with which the Company amalgamates (the "amalgamating
               entity"), the amount of consideration therefor will be deemed to
               be the fair value of such portion of the net assets and business
               of the non-surviving entity or amalgamating entity as is
               attributable to such Common Shares, Options or Convertible
               Securities, as the case may be. The fair value of any
               consideration other than cash or securities will be determined by
               the Board of Directors of the Company in good faith.

          (v)  Record Date. If the Company takes a record of the holders of
               Common Shares for the purpose of entitling them (A) to receive a
               dividend or other distribution payable in Common Shares, Options
               or in Convertible Securities or (B) to subscribe for or purchase
               Common Shares, Options or

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               Convertible Securities, then such record date will be deemed to
               be the date of the issue or sale of the Common Shares deemed to
               have been issued or sold upon the declaration of such dividend or
               the making of such other distribution or the date of the granting
               of such right of subscription or purchase, as the case may be.

          (vi) Expiration of Options and Convertible Securities. Any adjustment
               under this Section 2(a) is to be disregarded if, and to the
               extent that, all of the Options or Convertible Securities that
               gave rise to such adjustment expire or are cancelled without
               having been exercised, exchanged or converted, so that the
               Exercise Price effective immediately upon such expiration or
               cancellation is equal to the Exercise Price that otherwise would
               have been in effect had such expired or cancelled Options or
               Convertible Securities not been issued.

     (b)  Adjustment Upon Subdivision or Combination of Common Shares. If the
          Company at any time on or after the Subscription Date subdivides (by
          any stock split, stock dividend, recapitalization or otherwise) one or
          more classes of its outstanding Common Shares into a greater number of
          shares, the Exercise Price in effect immediately prior to such
          subdivision will be proportionately reduced and the number of Warrant
          Shares will be proportionately increased. If the Company at any time
          on or after the Subscription Date combines (by combination, reverse
          stock split or otherwise) one or more classes of its outstanding
          Common Shares into a smaller number of shares, the Exercise Price in
          effect immediately prior to such combination will be proportionately
          increased and the number of Warrant Shares will be proportionately
          decreased. Any adjustment under this Section 2(b) shall become
          effective at the close of business on the date the subdivision or
          combination becomes effective.

     (c)  Other Events. If any event (but, for the avoidance of doubt, excluding
          Common Shares deemed to have been issued by the Company in connection
          with any Excluded Securities) occurs of the type contemplated by the
          provisions of this Section 2 but not expressly provided for by such
          provisions (including, without limitation, the granting of stock
          appreciation rights, phantom stock rights or other rights with equity
          features), then the Company's Board of Directors will make an
          appropriate adjustment in the Exercise Price and the number of Warrant
          Shares so as to protect the rights of the Holder; provided, that no
          such adjustment pursuant to this Section 2(c) will increase the
          Exercise Price or decrease the number of Warrant Shares as otherwise
          determined pursuant to this Section 2.

     (d)  Notice of Adjustments; Warrant Deemed Outstanding. Upon any adjustment
          of the Exercise Price or of the number or kind of securities into
          which this Warrant is exercisable pursuant to the terms of this
          Warrant, the Company shall give written notice thereof to the Holder,
          which notice shall state the Exercise Price or the number of Warrant
          Shares or other securities subject to this Warrant resulting from such
          adjustment, as the case may be, and shall set forth in reasonable
          detail the method of such calculation and the facts upon which such
          calculation is based. If during the period beginning on and including
          August 5, 2005 and ending on the

                                       10

<PAGE>
          date immediately preceding the issuance date of this Warrant, the
          Company entered into, or in accordance with terms of this Warrant
          would have been deemed to have entered into (had this Warrant been
          outstanding at such time), any Dilutive Issuance, subdivision,
          combination or any other similar event, then solely for purposes of
          determining any adjustment under this Section 2 as a result of such
          Dilutive Issuance, deemed Dilutive Issuance, subdivision, combination
          or other similar event, this Warrant shall be deemed to have been
          outstanding for purposes of this Section 2 at the time of each such
          Dilutive Issuance, deemed Dilutive Issuance, subdivision, combination
          or other similar event, as applicable.

     (e)  Reorganization or Reclassification. Any recapitalization,
          reorganization or reclassification, in each case which is effected in
          such a way that the holders of Common Shares are entitled to receive
          (either directly or upon subsequent liquidation) stock, securities or
          assets with respect to or in exchange for Common Shares is referred to
          herein as "ORGANIC CHANGE." Prior to the consummation of any Organic
          Change, the Company shall make appropriate provision (in form and
          substance reasonably satisfactory to the Holders) to insure that each
          of the Holders shall thereafter have the right to acquire and receive,
          in lieu of or addition to (as the case may be) the shares of Common
          Shares immediately theretofore acquirable and receivable upon the
          exercise of such Holder's Warrant, such shares of stock, securities or
          assets as would have been issued or payable in such Organic Change (if
          the holder had exercised this Warrant immediately prior to such
          Organic Change) with respect to or in exchange for the number of
          shares of Common Stock immediately theretofore acquirable and
          receivable upon exercise of such Holder's Warrant had such Organic
          Change not taken place. In any such case, the Company shall make
          appropriate provision (in form and substance reasonably satisfactory
          to the Holders) with respect to such Holders' rights and interests to
          insure that the provisions of this Section 2 and Sections 3 and 4
          hereof shall thereafter be applicable to the Warrant.

3.   RIGHTS UPON DISTRIBUTION OF ASSETS. Subject to Section 4(a), if the Company
     shall declare or make any dividend or other distribution of its assets (or
     rights to acquire its assets) to holders of Common Shares, by way of return
     of capital or otherwise (including, without limitation, any distribution of
     cash, stock or other securities, property or options by way of a dividend,
     spin off, reclassification, corporate rearrangement, scheme of arrangement
     or other similar transaction) (a "DISTRIBUTION"), at any time after the
     issuance of this Warrant, then, in each such case:

     (a)  any Exercise Price in effect immediately prior to the close of
          business on the record date fixed for the determination of holders of
          Common Shares entitled to receive the Distribution shall be reduced,
          effective as of the close of business on such record date, to a price
          determined by multiplying such Exercise Price by a fraction of which
          (i) the numerator shall be the Closing Bid Price of the Class A Common
          Shares on the Trading Day immediately preceding such record date minus
          the value of the Distribution (as determined in good faith by the
          Company's Board of Directors) applicable to one Class A Common Share,
          and (ii) the denominator shall be the arithmetic average of the
          Closing Bid Price of the Class

                                       11
<PAGE>

          A Common Shares during the twenty (20) Trading Days immediately
          preceding such record date; and

     (b)  the number of Warrant Shares shall be increased to a number of shares
          equal to the number of Class A Common Shares obtainable immediately
          prior to the close of business on the record date fixed for the
          determination of holders of Common Shares entitled to receive the
          Distribution multiplied by the reciprocal of the fraction set forth in
          the immediately preceding paragraph (a); provided, that in the event
          that the Distribution is of Capital Stock ("OTHER CAPITAL STOCK") of a
          company whose Capital Stock is traded on a national securities
          exchange or a national automated quotation system, then the Holder may
          elect to receive a warrant to purchase Other Capital Stock in lieu of
          an increase in the number of Warrant Shares, the terms of which shall
          be identical to those of this Warrant, except that such warrant shall
          be exercisable into the number of shares of Other Capital Stock that
          would have been payable to the Holder pursuant to the Distribution had
          the Holder exercised this Warrant immediately prior to such record
          date and with an aggregate exercise price equal to the product of the
          amount by which the exercise price of this Warrant was decreased with
          respect to the Distribution pursuant to the terms of the immediately
          preceding paragraph (a) and the number of Warrant Shares calculated in
          accordance with the first part of this paragraph (b).

4.   PURCHASE RIGHTS; CHANGE OF CONTROL.

     (a)  Purchase Rights. If at any time the Company grants, issues or sells
          any Options, Convertible Securities or rights to purchase stock,
          warrants, securities or other property (unless pursuant to pre-emptive
          rights existing on the date hereof set forth on Schedule 3(o) to the
          Securities Purchase Agreement) pro rata to the all of record holders
          of any class of Common Shares (the "PURCHASE RIGHTS"), then, upon the
          Holder's election, the Holder will be entitled to acquire, upon the
          terms applicable to such Purchase Rights and in lieu of any
          adjustments to which the Holder is otherwise entitled under Section 3
          above in respect of such Purchase Rights, the aggregate Purchase
          Rights which the Holder could have acquired if the Holder had held the
          number of Class A Common Shares acquirable upon complete exercise of
          this Warrant (without regard to any limitations on the exercise of
          this Warrant) immediately before the date on which a record is taken
          for the grant, issuance or sale of such Purchase Rights, or, if no
          such record is taken, the date as of which the record holders of
          Common Shares are to be determined for the grant, issue or sale of
          such Purchase Rights.

     (b)  Change of Control. The Company shall not enter into or be party to a
          Change of Control unless the Successor Entity assumes in writing all
          of the obligations of the Company under this Warrant and the other
          Transaction Documents (as defined in the Securities Purchase
          Agreement) in accordance with the provisions of this Section (4)(b)
          pursuant to written agreements in form and substance reasonably
          satisfactory to the Required Holders, including agreements to deliver
          to each holder of SPA Warrants in exchange for such SPA Warrants a
          security of the Successor Entity evidenced by a written instrument
          substantially similar in

                                       12

<PAGE>

          form and substance to this Warrant, including, without limitation, an
          adjusted Exercise Price equal to the lesser of the Exercise Price that
          is then in effect and the value for the Common Shares reflected by the
          terms of any such Change of Control (provided that if over two-thirds
          of the consideration for the Common Shares in a Change of Control
          consists of cash or property other than equity securities then the
          Exercise Price shall be adjusted to the lesser of the Exercise Price
          that is then in effect and the price that is 90% of the value for the
          Common Shares reflected by the Change of Control), exercisable for the
          Adjusted Warrant Consideration (as defined below). Upon the occurrence
          of any Change of Control, the Successor Entity, if other than the
          Company, shall succeed to, and be substituted for (so that from and
          after the date of such Change of Control, the provisions of this
          Warrant referring to the "Company" shall refer instead to the
          Successor Entity), and may exercise every right and power of the
          Company and shall assume all of the obligations of the Company under
          this Warrant with the same effect as if such Successor Entity had been
          named as the Company herein. Upon consummation of any Change of
          Control, the Successor Entity shall deliver to the Holder confirmation
          that there shall be issued upon exercise of this Warrant at any time
          after the consummation of the Change of Control, in lieu of the Class
          A Common Shares (or other securities, cash, assets or other property)
          purchasable upon the exercise of the Warrant prior to such Change of
          Control, such shares of stock, securities, cash, assets or any other
          property whatsoever (including warrants or other purchase or
          subscription rights) which the Holder would have been entitled to
          receive upon the happening of such Change of Control had this Warrant
          been converted immediately prior to such Change of Control, as
          adjusted in accordance with the provisions of this Warrant (the
          "ADJUSTED WARRANT CONSIDERATION"). In addition to and not in
          substitution for any other rights hereunder, prior to the consummation
          of any Change of Control pursuant to which holders of Common Shares
          are entitled to receive securities or other assets with respect to or
          in exchange for Common Shares (a "CORPORATE EVENT"), the Company shall
          make appropriate provision to insure that the Holder will thereafter
          have the right to receive upon an exercise of this Warrant at any time
          after the consummation of the Change of Control but prior to the
          Expiration Date, in lieu of the Class A Common Shares (or other
          securities, cash, assets or other property) purchasable upon the
          exercise of this Warrant prior to such Change of Control, such shares
          of stock, securities, cash, assets or any other property whatsoever
          (including warrants or other purchase or subscription rights) which
          the Holder would have been entitled to receive upon the happening of
          such Change of Control had the Warrant been exercised immediately
          prior to such Change of Control. Provision made pursuant to the
          preceding sentence shall be in form and substance reasonably
          satisfactory to the Required Holders. In connection with any Change of
          Control in which all holders of Common Shares and securities
          convertible into, exercisable for and exchangeable for Common Shares
          are solely to receive in such Change of Control cash and/or securities
          of an entity that is not a publicly traded corporation whose Capital
          Stock is quoted on or listed on a securities exchange or quotation
          system in exchange for such securities, the Company shall have the
          right to require the Holder to sell all or any portion of its Warrants
          to the Company for cash payable at consummation of such

                                       13
<PAGE>

          Change of Control in an amount equal to the greatest of (i) the
          product of (a) the total number of shares for which this Warrant may
          be exercised and (b) $2.50, (ii) the product of (a) the total number
          of shares for which this Warrant may be exercised and (b) the
          difference between the Exercise Price then in effect and the
          consideration per share received in such Change of Control and (iii)
          the product of (a) the total number of shares for which this Warrant
          may be exercised and (b) the value per Warrant Share of the remaining
          unexercised portion of this Warrant on the date of such consummation,
          which value shall be determined by use of the Black-Scholes Option
          Pricing Model reflecting (A) a risk-free interest rate corresponding
          to the U.S. Treasury rate for a period equal to the remaining term of
          this Warrant as of such date of request and (B) an expected volatility
          equal to the greater of 60% and, to the extent applicable, the 100 day
          volatility obtained from the historical price volatility ("HVG")
          function on Bloomberg. The provisions of this Section shall apply
          similarly and equally to successive Change of Control and Corporate
          Events and shall be applied without regard to any limitations on the
          exercise of this Warrant.

5.   NONCIRCUMVENTION. The Company hereby covenants and agrees that the Company
     will not, by amendment of its Certificate of Incorporation, Bylaws or
     through any reorganization, transfer of assets, consolidation, merger,
     amalgamation, scheme or plan of arrangement, dissolution, issue or sale of
     securities, or any other voluntary action, avoid or seek to avoid the
     observance or performance of any of the terms of this Warrant, and will at
     all times in good faith carry out all the provisions of this Warrant and
     take all action as may be required to protect the rights of the Holder.
     Without limiting the generality of the foregoing, the Company (i) shall not
     increase the par value of any Class A Common Shares receivable upon the
     exercise of this Warrant above the Exercise Price then in effect, (ii)
     shall take all such actions as may be necessary or appropriate in order
     that the Company may validly and legally issue fully paid and nonassessable
     Class A Common Shares upon the exercise of this Warrant, and (iii) shall,
     so long as any of the SPA Warrants are outstanding, take all action
     necessary to reserve and keep available out of its authorized and unissued
     Class A Common Shares, solely for the purpose of effecting the exercise of
     the SPA Warrants, the number of Class A Common Shares as shall from time to
     time be necessary to effect the exercise of the SPA Warrants then
     outstanding (without regard to any limitations on exercise).

6.   WARRANT HOLDER NOT DEEMED A STOCKHOLDER. Except as otherwise specifically
     provided herein, the Holder, solely in such Person's capacity as a holder
     of this Warrant, shall not be entitled to vote or receive dividends or be
     deemed the holder of share capital of the Company for any purpose, nor
     shall anything contained in this Warrant be construed to confer upon the
     Holder, solely in such Person's capacity as the Holder of this Warrant, any
     of the rights of a stockholder of the Company or any right to vote, give or
     withhold consent to any corporate action (whether any reorganization, issue
     of stock, reclassification of stock, consolidation, merger, amalgamation,
     conveyance or otherwise), receive notice of meetings, receive dividends or
     subscription rights, or otherwise, prior to the issuance to the Holder of
     the Warrant Shares which such Person is then entitled to receive upon the
     due exercise of this Warrant. In addition, nothing contained in this
     Warrant shall be construed as imposing any liabilities on the Holder to
     purchase any securities (upon exercise of this Warrant or otherwise) or as
     a stockholder

                                       14

<PAGE>

     of the Company, whether such liabilities are asserted by the Company or by
     creditors of the Company. Notwithstanding this Section 6, the Company shall
     provide the Holder with copies of the same notices and other information
     given to the stockholders of the Company generally, contemporaneously with
     the giving thereof to the stockholders.

7.   REISSUANCE OF WARRANTS.

     (a)  Transfer of Warrant. This Warrant may only be offered, sold or
          otherwise transferred (a) pursuant to an effective registration
          statement under the 1933 Act, (b) to the Company, (c) to an
          institutional "accredited investor" within the meaning of Rule
          501(a)(1), (2), (3) or (7) of Regulation D under the 1933 Act, (d) to
          a "qualified institutional buyer" in accordance with Rule 144A of the
          1933 Act, (e) outside the United States in accordance with Rule 904 of
          Regulation S of the 1933 Act, (f) pursuant to the exemption from
          registration provided by Rule 144 under the 1933 Act (if available) or
          (g) pursuant to another available exception from the registration
          requirements of the Securities Act, subject to the Company's right
          prior to any such offer, sale or transfer pursuant to clause (g) to
          require the delivery of an opinion of counsel, certification and/or
          other information reasonably satisfactory to it that does not require
          registration under the 1933 Act or applicable state securities laws,
          and the holder shall furnish to the Company an opinion to such effect
          from counsel of recognized standing reasonably satisfactory to the
          Company prior to such offer, sale or transfer. If this Warrant is to
          be transferred, the Holder shall surrender this Warrant to the
          Company, whereupon the Company will forthwith issue and deliver upon
          the order of the Holder a new Warrant (in accordance with Section
          7(d)), registered as the Holder may request, representing the right to
          purchase the number of Warrant Shares being transferred by the Holder
          and, if less then the total number of Warrant Shares then underlying
          this Warrant is being transferred, a new Warrant (in accordance with
          Section 7(d)) to the Holder representing the right to purchase the
          number of Warrant Shares not being transferred and the transferee
          shall agree to be bound by the terms hereof.

          No transfer of a Warrant to any Person shall be effective if such
          transfer would, in the reasonable judgment of the Company, require the
          Company or any of its subsidiaries to become subject to the reporting
          requirements under the Exchange Act.

     (b)  Lost, Stolen or Mutilated Warrant. Upon receipt by the Company of
          evidence reasonably satisfactory to the Company of the loss, theft,
          destruction or mutilation of this Warrant, and, in the case of loss,
          theft or destruction, of any indemnification undertaking by the Holder
          to the Company in a form reasonably acceptable to the Company and, in
          the case of mutilation, upon surrender and cancellation of this
          Warrant, the Company shall execute and deliver to the Holder a new
          Warrant (in accordance with Section 7(d)) representing the right to
          purchase the Warrant Shares then underlying this Warrant.

     (c)  Exchangeable for Multiple Warrants. This Warrant is exchangeable, upon
          the surrender hereof by the Holder at the principal office of the
          Company, for a new Warrant or Warrants (in accordance with Section
          7(d)) representing in the

                                       15

<PAGE>

          aggregate the right to purchase the number of Warrant Shares then
          underlying this Warrant, and each such new Warrant will represent the
          right to purchase such portion of such Warrant Shares as is designated
          by the Holder at the time of such surrender; provided, however, that
          no Warrants for fractional Class A Common Shares shall be given.

     (d)  Issuance of New Warrants. Whenever the Company is required to issue a
          new Warrant pursuant to the terms of this Warrant, such new Warrant
          (i) shall be of like tenor with this Warrant, (ii) shall represent, as
          indicated on the face of such new Warrant, the right to purchase the
          Warrant Shares then underlying this Warrant (or in the case of a new
          Warrant being issued pursuant to Section 7(a) or Section 7(c), the
          Warrant Shares designated by the Holder which, when added to the
          number of Class A Common Shares underlying the other new Warrants
          issued in connection with such issuance, does not exceed the number of
          Warrant Shares then underlying this Warrant), (iii) shall have an
          issuance date, as indicated on the face of such new Warrant which is
          the same as the Issuance Date unless such Warrant was issued in
          connection with a transfer, and (iv) shall have the same rights and
          conditions as this Warrant.

8.   RIGHT OF PARTICIPATION IN ADDITIONAL ISSUANCES OF SECURITIES.

     (a)  For purposes of this Section 8(a), the following definitions shall
          apply.

          (i)  "EXCLUDED SECURITIES" means (A) shares issued pursuant to Section
               IV, Section 2(d) of the Company's Certificate of Incorporation;
               (B) shares (and/or options, warrants or other share purchase
               rights, and the shares issued pursuant to such options, warrants
               or other rights) issuable or issued to employees, consultants,
               directors or others with whom the Company conducts business,
               provided, that (I) such shares, options, warrants or other rights
               are issued directly in a transaction approved by the Board of
               Directors of the Company or pursuant to a stock option plan or
               restricted stock plan approved by the Board of Directors of the
               Company and (II) each of the foregoing transactions is for
               non-financing purposes; (C) shares (and/or options, warrants or
               other share purchase rights, and the shares issued pursuant to
               such options, warrants or other rights) issued to financial
               institutions or lessors in connection with commercial credit
               arrangements, equipment financing or similar transactions
               provided, that such shares, options, warrants or other rights are
               issued directly in a transaction approved by the Board of
               Directors of the Company; (D) shares (and/or options, warrants or
               other share purchase rights, and the shares issued pursuant to
               such options, warrants or other rights) issued pursuant to
               transactions involving technology licensing, research or
               development activities, the use or acquisition of strategic
               assets, properties or rights, or the distribution, manufacture or
               marketing of the Company's products, provided that (I) such
               shares, options, warrants or other rights are issued directly in
               a transaction approved by the Board of Directors of the Company
               or pursuant to a stock option plan or restricted stock plan
               approved by the Board of Directors of the Company and (II) each
               of the

                                       16
<PAGE>

               foregoing transactions is for nonfinancing purposes; (E) shares
               issuable or issued in connection with bona fide acquisitions of
               or by the Company whether by merger, consolidation, sale of
               assets, sale or exchange of stock or otherwise, provided that the
               terms of such acquisition are approved by the Board of Directors
               of the Company; (F) shares (and/or options, warrants or other
               share purchase rights, and the shares issued pursuant to such
               options, warrants or other rights) issued or issuable (i) to the
               public pursuant to a registered public offering or (ii) upon
               exercise of rights granted to underwriters in connection with
               such registered public offering; (G) shares (and/or options,
               warrants or other share purchase rights, and the shares issued
               pursuant to such options, warrants or other rights) issuable or
               issued pursuant to agreements and warrants existing on the date
               hereof; (H) shares issued upon conversion of convertible
               securities or instruments outstanding on the date hereof; and/or
               (I) shares issued in connection with any stock split, stock
               dividend, reverse stock split or other distribution of shares
               that does not affect the economic interests or rights of holders
               of shares.

          (ii) "NEW SHARES" means, except for any additional Warrants issued
               after the date hereof under the Securities Purchase Agreement,
               shares of the Company's capital stock, or securities or
               instruments convertible into or exchangeable or exercisable for
               shares of the Company's capital stock, of any class of capital
               stock of the Company, other than the Excluded Securities.

          (iii) "QUALIFIED IPO" shall have the meaning set forth in Section 1.1
               of the Indenture.

          (iv) "SUBSEQUENT PLACEMENT" means (A) offer, pledge, sell, contract to
               sell, sell any option or contract to purchase, purchase any
               option or contract to sell, grant any option, right or warrant to
               purchase, lend, or otherwise transfer or dispose of, directly or
               indirectly, any New Shares or (B) enter into any swap or other
               arrangement that transfers to another, in whole or in part, any
               of the economic consequences of ownership of Common Stock whether
               any such transaction described in clause (A) or (B) above is to
               be settled by delivery of New Shares or other securities, in cash
               or otherwise.

     (b)  From the date hereof until the one (1) year anniversary of a Qualified
          IPO, the Company will not, directly or indirectly, effect any
          Subsequent Placement unless the Company shall have first complied with
          this Section 8(b).

          (i)  The Company shall deliver a notice (the "ISSUE NOTICE") to each
               Buyer and each other stockholder entitled to pre-emptive rights
               (collectively, the "OFFEREES") stating (A) the bona fide
               intention of the Company to offer such New Shares in a Subsequent
               Placement, (B) the number of such New Shares to be offered and
               (C) the price and terms upon which the Company proposes to offer
               such New Shares.

                                       17

<PAGE>

          (ii) By written notification received by the Company, within five (5)
               Business Days after receipt of the Issue Notice, each Offeree may
               elect to purchase, at the price and on the terms specified in the
               Issue Notice, up to a portion of such New Shares that equals the
               proportion that the number of shares of stock, including any
               options, warrants or other share purchase rights, held by such
               Offeree bears to the total number of shares of the Company's
               stock then outstanding, on a fully diluted basis, but excluding
               (A) any options, warrants or other rights to acquire shares of
               the Company's stock where the fair market value of the shares
               issuable on the exercise of such options, warrants or other
               rights, as determined in good faith by the Board of Directors of
               the Company, is less than the exercise price of such options,
               warrants or other rights and (B) any shares of the Company's
               stock and options, warrants or other rights to acquire shares of
               the Company's stock that are reserved but unallocated pursuant to
               any stock plan. Such written notification shall be a binding,
               irrevocable commitment to purchase such New Shares, subject in
               all cases to the preparation, execution and delivery by the
               Company and the Offerees of a purchase agreement relating to such
               New Shares.

          (iii) If the Offerees do not elect to purchase all of the New Shares
               that the Offerees are entitled to purchase under Section
               8(b)(ii), the Company may offer the unsubscribed portion of such
               New Shares to any persons at a price not less than, and upon
               terms no more favorable to such person, than those specified in
               the Issue Notice, provided that the Company completes the offer
               and sale of such unsubscribed portion within ninety (90) days
               after the date the applicable Issue Notice is first delivered to
               Offerees.

9.   NOTICES. Whenever notice is required to be given under this Warrant, unless
     otherwise provided herein, such notice shall be given in accordance with
     Section 9(f) of the Securities Purchase Agreement. The Company shall
     provide the Holder with prompt written notice of all actions taken pursuant
     to this Warrant, including in reasonable detail a description of such
     action and the reason therefore. Without limiting the generality of the
     foregoing, the Company will give written notice to the Holder (i) within
     ten (10) business days after any adjustment of the Exercise Price, setting
     forth in reasonable detail, and certifying, the calculation of such
     adjustment, (ii) at least fifteen days prior to the date on which the
     Company closes its books or takes a record (A) with respect to any dividend
     or distribution upon the Common Shares, (B) with respect to any grants,
     issuances or sales of any Options, Convertible Securities or rights to
     purchase stock, warrants, securities or other property to holders of Common
     Shares or (C) for determining rights to vote with respect to any Change of
     Control, dissolution or liquidation, provided, in each case, that such
     information shall be made known to the public prior to or in conjunction
     with such notice being provided to the Holder and (iii) at least 15 days
     prior to any Change of Control (other than pursuant to clause (iii) of such
     definition, in which case within one (1) day of the Company's knowledge of
     such transaction or proposed transaction).

10.  AMENDMENT AND WAIVER. Except as otherwise provided herein, the provisions
     of this Warrant may be amended and the Company may take any action herein
     prohibited,

                                       18

<PAGE>

     or omit to perform any act herein required to be performed by it, only if
     the Company has obtained the written consent of the Required Holders;
     provided, that no such action may increase the exercise price of any SPA
     Warrant or decrease the number of shares or class of stock obtainable upon
     exercise of any SPA Warrant without the written consent of the Holder. No
     such amendment shall be effective to the extent that it applies to less
     than all of the holders of the SPA Warrants then outstanding.

11.  GOVERNING LAW; JURISDICTION; JURY TRIAL. All questions concerning the
     construction, validity, enforcement and interpretation of this Warrant
     shall be governed by the internal laws of the State of New York, without
     giving effect to any choice of law or conflict of law provision or rule
     (whether of the State of New York or any other jurisdictions) that would
     cause the application of the laws of any jurisdictions other than the State
     of New York. Subject to Section 13, each party hereby irrevocably submits
     to the exclusive jurisdiction of the state and federal courts sitting in
     The City of New York, Borough of Manhattan, for the adjudication of any
     dispute hereunder or in connection herewith or with any transaction
     contemplated hereby or discussed herein, and hereby irrevocably waives, and
     agrees not to assert in any suit, action or proceeding, any claim that it
     is not personally subject to the jurisdiction of any such court, that such
     suit, action or proceeding is brought in an inconvenient forum or that the
     venue of such suit, action or proceeding is improper. Each party hereby
     irrevocably waives personal service of process and consents to process
     being served in any such suit, action or proceeding by mailing a copy
     thereof to such party at the address for such notices to it under this
     Warrant and agrees that such service shall constitute good and sufficient
     service of process and notice thereof. Nothing contained herein shall be
     deemed to limit in any way any right to serve process in any manner
     permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY
     HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY
     DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR
     ANY TRANSACTION CONTEMPLATED HEREBY.

12.  CONSTRUCTION; HEADINGS. This Warrant shall be deemed to be jointly drafted
     by the Company and all the Buyers and shall not be construed against any
     person as the drafter hereof. The headings of this Warrant are for
     convenience of reference and shall not form part of, or affect the
     interpretation of, this Warrant.

13.  DISPUTE RESOLUTION. In the case of a dispute as to the determination of the
     Exercise Price or the arithmetic calculation of the Warrant Shares, the
     Company shall submit the disputed determinations or arithmetic calculations
     via facsimile within two Business Days of receipt of the Exercise Notice
     giving rise to such dispute, as the case may be, to the Holder. If the
     Holder and the Company are unable to agree upon such determination or
     calculation of the Exercise Price or the Warrant Shares within three
     Business Days of such disputed determination or arithmetic calculation
     being submitted to the Holder, then the Company shall, within two Business
     Days submit via facsimile (a) the disputed determination of the Exercise
     Price to an independent, reputable investment bank selected by the Company
     and approved by the Holder or (b) the disputed arithmetic calculation of
     the Warrant Shares to the Company's independent, outside accountant. The
     Company shall cause at its expense the investment bank or the accountant,
     as the case may be, to perform the determinations or calculations and
     notify

                                       19

<PAGE>

     the Company and the Holder of the results no later than ten Business Days
     from the time it receives the disputed determinations or calculations. Such
     investment bank's or accountant's determination or calculation, as the case
     may be, shall be binding upon all parties absent demonstrable error.

14.  REMEDIES, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies
     provided in this Warrant shall be cumulative and in addition to all other
     remedies available under this Warrant and the other Transaction Documents,
     at law or in equity (including a decree of specific performance and/or
     other injunctive relief), and nothing herein shall limit the right of the
     Holder to pursue actual damages for any failure by the Company to comply
     with the terms of this Warrant. The Company acknowledges that a breach by
     it of its obligations hereunder will cause irreparable harm to the Holder
     and that the remedy at law for any such breach may be inadequate. The
     Company therefore agrees that, in the event of any such breach or
     threatened breach, the holder of this Warrant shall be entitled, in
     addition to all other available remedies, to an injunction restraining any
     breach, without the necessity of showing economic loss and without any bond
     or other security being required.

15.  TRANSFER. Subject to Section 7 hereof, this Warrant may be offered for
     sale, sold, transferred or assigned without the consent of the Company.

16.  CERTAIN DEFINITIONS. For purposes of this Warrant, the following terms
     shall have the following meanings:

     (a)  "BLACK-SCHOLES" means the general application of the Black-Scholes
          Option Pricing Model.

     (b)  "BLOOMBERG" means Bloomberg Financial Markets.

     (c)  "BUSINESS DAY" means each day that is not a Legal Holiday.

     (d)  "CAPITAL STOCK" means any and all shares, interests, participations,
          rights or other equivalents (however designated) of corporate stock,
          including, without limitation, with respect to partnerships,
          partnership interests (whether general or limited) and any other
          interest or participation that confers on a Person the right to
          receive a share of the profits and losses of, or distributions of
          assets of, such partnership.

          "CHANGE OF CONTROL" means a change of control of the Company, or any
successor entity that is subject to the terms of this Warrant, which shall be
deemed to have occurred at such time after the Issue Date as any of the
following events shall occur:

          (1) any sale, lease, exchange or other transfer (in one transaction or
a series of related transactions) of all or substantially all of the Company's
assets to any person or group of related persons (other than to any of the
Company's wholly owned Subsidiaries);

          (2) the approval by the holders of the Company's Capital Stock of any
plan or proposal for liquidation or dissolution;

                                       20

<PAGE>

          (3) if any person or group (other than a person or group of persons
comprised solely of shareholders of the Company as of the Issue Date or their
Affiliates) shall become the beneficial owner, directly or indirectly, of shares
representing more than 50% of the aggregate voting power represented by the
issued and outstanding Voting Stock of the Company;

          (4) prior to a Qualified IPO and other than as results solely from a
transaction that results in a Qualified IPO, if either (i) Craig McCaw and any
McCaw Person, taken as a whole, directly or indirectly beneficially owns less
than 50% of the total outstanding Class B Common Stock or (ii) Craig McCaw and
any McCaw Person, taken as a whole, directly or indirectly beneficially owns
less than 66 2/3% of the amount of the total outstanding Class B Common Stock
owned by such persons as of the Issue Date; or

          (5) prior to a Qualified IPO and other than as results solely from a
transaction that results in a Qualified IPO, any consolidation or merger by the
Company where persons who are beneficial owners of the Company's shares of
Voting Stock immediately prior to such transaction no longer own at least a
majority of the total voting power of the continuing or surviving corporation or
entity.

          For purposes of the definition of Change of Control:

          "person" or "group" have the meanings given to them for purposes of
Sections 13(d) and 14(d) of the Exchange Act or any successor provisions, and
the term "group" includes any group acting for the purpose of acquiring, holding
or disposing of securities within the meaning of Rule 13d_5(b)(l) under the
Exchange Act, or any successor provision;

          a "beneficial owner" will be determined in accordance with Rule 13d-3
under the Exchange Act, as in effect on the date of this Indenture, except that
the number of shares of Voting Stock of the Company will be deemed to include
all outstanding shares of Voting Stock of the Company and unissued shares deemed
to be held by the "person" or "group" or other person with respect to which the
determination is being made, but shall not include any unissued shares deemed to
be held by all other persons;

          "beneficially owned" has a meaning correlative to that of beneficial
owner; and

          "unissued shares" means shares of Voting Stock not outstanding that
are subject to options, warrants, rights to purchase or conversion privileges
exercisable within 60 days of the date of determination of a Change of Control.

     (e)  "CLOSING BID PRICE" and "CLOSING SALE PRICE" for each day shall be the
          last reported bid price or last reported sale price, respectively, or
          in case no such reported sale takes place on such date, the average of
          the reported closing bid prices, or the asked prices, respectively, on
          such date in either case on the Nasdaq National Market or, if the
          Class A Common Shares are not listed or admitted to trading on the
          Nasdaq National Market, the average of the reported closing bid
          prices, or the asked prices, respectively, on such date in either case
          on the principal national securities exchange on which the Class A
          Common Shares are listed or admitted to trading or, if not listed or
          admitted to trading on any national securities exchange, the closing
          bid price or sales price, respectively, or in case no

                                       21

<PAGE>

          reported sale takes place, the average of the closing bid and asked
          prices, respectively, on such date as furnished by any two members of
          the National Association of Securities Dealers, Inc. selected from
          time to time by the Company for that purpose. If no such prices are
          available, the Closing Bid Price or the Closing Sale Price, as the
          case may be, of such security on such date shall be the fair value of
          a Class A Common Share as reasonably determined in good faith by the
          Board of Directors, in consultation with a financial advisor the
          Company determines in good faith is reasonably proficient in valuing
          equity interests. All such determinations shall be appropriately
          adjusted for any stock dividend, stock split, reclassification,
          reorganization, recapitalization, combination, reverse stock split or
          other similar event during the applicable calculation period.

     (f)  "CLASS A COMMON SHARES" means (i) shares of the Company's Class A
          Common Stock, par value $0.0001 per share, and (ii) any share capital
          into which such Class A Common Stock shall have been changed or any
          share capital resulting from a reclassification of such Class A Common
          Stock.

     (g)  "CONVERTIBLE SECURITIES" means any stock or securities (other than
          Options) directly or indirectly convertible into or exercisable or
          exchangeable for Common Shares.

     (h)  "EFFECTIVE DATE" means the date on which the Registration Statement
          (as defined in the Registration Rights Agreement) is first declared
          effective by the SEC.

     (i)  "EXPIRATION DATE" means the date that is the later of (i) the fifth
          anniversary of the Issuance Date and (ii) the second anniversary of
          the Qualified IPO Lock-Up Expiration Date, or if such later date falls
          on a day other than a Business Day or on which trading does not take
          place on an Principal Market (a "HOLIDAY"), the next date that is not
          a Holiday; provided, however, if, at any time after the Effective Date
          and prior to the original Expiration Date the Registration Statement
          (as defined in the Registration Rights Agreement) is not effective and
          available for the resale of all of the Registrable Securities (as
          defined in the Registration Rights Agreement) (including during a
          Suspension Period (as defined in the Registration Rights Agreement)),
          such original Expiration Date shall automatically be extended by such
          number of days after the Effective Date and prior to the original
          Expiration Date that the Registration Statement was not effective and
          available for the resale of all of the Registrable Securities.

     (j)  "LEGAL HOLIDAY" is a Saturday, Sunday or a day on which state or
          federally chartered banking institutions in New York, New York are not
          required to be open.

     (k)  "OPTIONS" means any rights, warrants or options to subscribe for or
          purchase Common Shares or Convertible Securities.

     (l)  "PARENT ENTITY" of a Person means an entity that, directly or
          indirectly, controls the applicable Person and whose common stock or
          equivalent equity security is quoted or listed on an Principal Market,
          or, if there is more than one such Person

                                       22
<PAGE>

          or Parent Entity, the Person or Parent Entity with the largest public
          market capitalization as of the date of consummation of the Change of
          Control.

     (m)  "PERSON" means an individual, a limited liability company, a
          partnership, a joint venture, a corporation, a trust, an
          unincorporated organization, any other entity and a government or any
          department or agency thereof.

     (n)  "PRINCIPAL MARKET" means The New York Stock Exchange, Inc. or the
          Nasdaq National Market, as the case may be.

     (o)  "REQUIRED HOLDERS" means the holders of the SPA Warrants representing
          at least a majority of Class A Common Shares underlying the SPA
          Warrants then outstanding.

     (p)  "SPA NOTES" means the notes issued pursuant to the Securities Purchase
          Agreement.

     (q)  "SUCCESSOR ENTITY" means the Person (or, if so elected by the Required
          Holders, the Parent Entity) formed by, resulting from, continuing from
          or surviving any Change of Control or the Person (or, if so elected by
          the Required Holders, the Parent Entity) with which such Change of
          Control shall have been entered into.

     (r)  "TRADING DAYS" means (i) if the Class A Common Shares are quoted on
          the Nasdaq National Market or any other system of automated
          dissemination of quotations of securities prices, days on which trades
          may be effected through such system, (ii) if the Class A Common Shares
          are listed or admitted for trading on any national or regional
          securities exchange, days on which such national or regional
          securities exchange is open for business or (iii) if the Class A
          Common Shares are not listed on a national or regional securities
          exchange or quoted on the Nasdaq National Market or any other system
          of automated dissemination of quotation of securities prices, days on
          which the Class A Common Shares are traded regular way in the
          over-the-counter market and for which a closing bid and a closing
          asked price for the Class A Common Shares are available.

     (s)  "VOLUME WEIGHTED AVERAGE PRICE" means, for any security as of any
          date, the dollar volume-weighted average price for such security on
          the Principal Market during the period beginning at 9:30:01 a.m., New
          York Time (or such other time as the Principal Market publicly
          announces is the official open of trading), and ending at 4:00:00
          p.m., New York Time (or such other time as the Principal Market
          publicly announces is the official close of trading) as reported by
          Bloomberg through its "Volume at Price" functions or by the Principal
          Market, or, if the foregoing does not apply, the dollar
          volume-weighted average price of such security in the over-the-counter
          market on the electronic bulletin board for such security during the
          period beginning at 9:30:01 a.m., New York Time (or such other time as
          such market publicly announces is the official open of trading), and
          ending at 4:00:00 p.m., New York Time (or such other time as such
          market publicly announces is the official close of trading) as
          reported by Bloomberg or by the Principal Market, or, if no dollar
          volume-weighted average price is

                                       23

<PAGE>

          reported for such security by Bloomberg or by the Principal Market for
          such hours, the average of the highest closing bid price and the
          lowest closing ask price of any of the market makers for such security
          as reported in the "pink sheets" by Pink Sheets LLC (formerly the
          National Quotation Bureau, Inc.). If the Weighted Average Price cannot
          be calculated for a security on a particular date on any of the
          foregoing bases, the Weighted Average Price of such security on such
          date shall be the fair market value as mutually determined by the
          Company and the Holder. All such determinations to be appropriately
          adjusted for any share dividend, share split, share combination or
          other similar transaction during the applicable calculation period.

                            [SIGNATURE PAGE FOLLOWS]

                                       24

<PAGE>

          IN WITNESS WHEREOF, the Company has caused this Warrant to purchase
Class A Common Stock to be duly executed as of the Issuance Date set out above.

                                        CLEARWIRE CORPORATION

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                              ----------------------------------
<PAGE>

                                                                       EXHIBIT A

                                 EXERCISE NOTICE

  TO BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS WARRANT TO PURCHASE
                             CLASS A COMMON SHARES

                              CLEARWIRE CORPORATION

          The undersigned holder hereby exercises the right to purchase
_______________ of the Class A Common Shares ("WARRANT SHARES") of Clearwire
Corporation, a corporation incorporated under the laws of the state of Delaware
(the "COMPANY"), evidenced by the attached Warrant to purchase Class A Common
Shares (the "WARRANT"). Capitalized terms used herein and not otherwise defined
shall have the respective meanings set forth in the Warrant.

     1. Form of Exercise Price. The Holder intends that payment of the Exercise
Price shall be made as:

          __________   a "Cash Exercise" with respect to _______________________
                       Warrant Shares; and/or

          __________   a "Cashless Exercise" with respect to ___________________
                       Warrant Shares.

     2. Payment of Exercise Price. In the event that the holder has elected a
Cash Exercise with respect to some or all of the Warrant Shares to be issued
pursuant hereto, the holder shall pay the Aggregate Exercise Price in the sum of
$_______________ to the Company in accordance with the terms of the Warrant.

     3. Delivery of Warrant Shares. The Company shall deliver to the holder
__________ Warrant Shares in accordance with the terms of the Warrant.

Date:
      ----------------------- --,----

-------------------------------------
      Name of Registered Holder

By:
    ---------------------------------
Name:
      -------------------------------
Title:
       ------------------------------

<PAGE>

                                 ACKNOWLEDGMENT

     The Company hereby acknowledges this Exercise Notice and hereby directs
[INSERT NAME OF TRANSFER AGENT] to issue the above indicated number of Class A
Common Shares to [INSERT NAME OF HOLDER] in accordance with the Transfer Agent
Instructions dated __________, from the Company and acknowledged and agreed to
by [INSERT NAME OF TRANSFER AGENT].

                                        CLEARWIRE CORPORATION

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------
<PAGE>

                                                                       EXHIBIT B

                         FORM OF LETTER TO BE DELIVERED
                            UPON EXERCISE OF WARRANTS

Clearwire Corporation

Dear Sirs:

          We are delivering this letter in connection with the purchase of
shares of Class A Common Stock (the "Shares") of Clearwire Corporation (the
"Company"), a corporation existing under the laws of the state of Delaware, upon
the exercise of warrants of the Company ("Warrants").

          We hereby confirm that:

     (a) we are an institutional "accredited investor" within the meaning of
Rule 501(a)(1), (2), (3) or (7) under the United States Securities Act of 1933
(the "1933 Act");

     (b) we are purchasing the Shares for our own account;

     (c) we have such knowledge and experience in financial and business matters
that we are capable of evaluating the merits and risks of purchasing the Shares;

     (d) we are not acquiring the Shares with a view to distribution thereof or
with any present intention of offering or selling any of the Shares, except (A)
pursuant to an effective registration statement under the 1933 Act; (B) to the
Company; (C) outside the United States in accordance with Rule 904 of Regulation
S under the 1933 Act and in compliance with applicable local laws; or (D) within
the United States (l) in accordance with the exemption from registration under
the 1933 Act provided by Rule 144 or Rule 144A thereunder, if available, and in
compliance with any applicable state securities laws or (2) in a transaction
that does not require registration under the 1933 Act or applicable state
securities laws, and the offeror, seller or transferor shall furnish to the
Company an opinion to such effect from counsel of recognized standing reasonably
satisfactory to the Company prior to such offer, sale or transfer.

     (e) we acknowledge that we have had access to such financial and other
information as we deem necessary in connection with our decision to purchase the
Shares; and

     (f) we acknowledge that we are not purchasing the Shares as a result of
advertisements, articles, notices or other communications published in any
newspaper, magazine or similar media or broadcast over radio or television.

     We understand that the Shares are being offered in a transaction not
involving any public offering within the United States within the meaning of the
1933 Act and that the Shares have not been and, other than under the
Registration Rights Agreement dated as of August 5, 2005 among the Company and
the buyers referred to therein, will not be registered under the 1933 Act. We
further understand that any Shares acquired by us will be in the form of
definitive

<PAGE>

physical certificates and that such certificates will bear a legend reflecting
the substance of paragraph (d) above.

     We acknowledge that you will rely upon our confirmations, acknowledgements
and agreements set forth herein.

(Name of Holder)

By:
    -----------------------------------
Name:
      ---------------------------------
Title:
       --------------------------------

Address:
         ------------------------------<PAGE>

                                                                    EXHIBIT 10.1

================================================================================

                           ADVISORY SERVICES AGREEMENT

                                     between

                              FLUX U.S. CORPORATION

                                       and

                                COM HOLDINGS, LLC

                          Dated as of November 13, 2003

================================================================================

<PAGE>

                           ADVISORY SERVICES AGREEMENT

      This Advisory Services Agreement (this "Agreement") is entered into as of
November 13, 2003, between Flux U.S. Corporation, a Delaware corporation (the
"Company"), and COM Holdings, LLC, a Delaware limited liability company ("COM").

      WHEREAS, COM is willing to provide advisory services to the Company on the
terms and subject to the conditions contained in this Agreement;

      NOW, THEREFORE, for and in consideration of the premises, the covenants
and agreements set forth herein, and other good and valuable consideration, the
receipt and sufficiency of which are acknowledged by the execution and delivery
hereof, the parties agree as follows:

                                    ARTICLE 1
                                   ENGAGEMENT

      The Company hereby engages COM to provide advisory services to the
Company. COM shall have no obligations other than as expressly stated in this
Agreement.

                                    ARTICLE 2
                                SERVICE STANDARDS

      COM shall provide its services hereunder in compliance with this Agreement
and all applicable law. In performing its obligations hereunder, COM shall act
in a manner that it reasonably believes to be in or not opposed to the best
interests of the Company consistent with the agreements and standards set forth
herein.

                                    ARTICLE 3
                             SERVICES TO BE PROVIDED

      Section 3.1. Duties.

      Subject to the terms and conditions of this Agreement, the Company hereby
engages COM and COM hereby accepts the engagement, to provide advisory and
consulting services to the Company and its Board of Directors, at the request
and direction, from time to time, of the Company's Board of Directors, or of any
duly appointed and acting senior executive officer, including without
limitation, advice as to the development, ownership and operation of
communications services, advice concerning long-range planning and strategy for
the development and growth of the Company, advice and support in connection with
its dealings with federal, state and local regulatory authorities, advice
regarding employment, retention and compensation of employees, procurement and
maintenance of adequate insurance coverage, bookkeeping and accounting services,
and assistance in short-term and long-term financial planning.

<PAGE>

      Section 3.2. Non-Company Responsibilities.

      COM and its representatives are at all times specifically permitted to
engage in any other business ventures and activities including management of
other businesses and companies and including such activities as may be deemed to
be in competition with the Company and shall have no obligation to account to
the Company for any such business ventures or activities.

      Section 3.3. Restrictions on Authority.

      COM shall not have any authority to enter contracts on behalf of the
Company or to otherwise bind the Company.

                                    ARTICLE 4
                                  COMPENSATION

      Section 4.1. Reimbursement.

      The Company shall reimburse COM for all out-of-pocket expenses
("Out-of-Pocket Expenses") reasonably incurred by COM for goods and services
provided by third parties to, for or on behalf of the Company (including those
out-of-pocket expenses incurred by COM in traveling to and from and visiting the
business of the Company in connection with providing services under this
Agreement and the fair market rental value of any aircraft that is owned by COM
or an affiliate of COM for the time such aircraft is used by COM for traveling
to and from and visiting the business of the Company). COM shall provide the
Company with a statement setting forth in reasonable detail (and with copies of
invoices or other supporting documentation) the Out-of-Pocket Expenses claimed,
and the Company shall pay to COM such amount within thirty (30) days of receipt
of the statement. Notwithstanding anything to the contrary contained in this
Agreement, in no event will COM be responsible for the payment from its own
funds of any expenses, obligations or liabilities of the Company, unless such
expenses, obligations or liabilities arose directly from the willful misconduct
or gross negligence of COM.

      Section 4.2. Advisory Fee.

      COM, in consideration of the terms of this Agreement, shall be paid,
commencing on the date hereof, an advisory fee per annum of $800,000 (the
"Advisory Fee"), payable in equal monthly installments of $66,667 due on the
first (1st) day of each month, provided that the first such payment shall be due
on the date hereof and shall be prorated to reflect the Advisory Fee
attributable to the period beginning on the date hereof and ending on the last
day of the month. The amount of the Advisory Fee shall be subject to
re-negotiation from time to time upon the agreement of the parties. As
additional consideration for the terms of this Agreement, the Company shall
issue to COM warrants (the "Warrants") to purchase One Million One Hundred
Twenty-Five Thousand (1,125,000) shares of Class A common stock of the Company,
on the terms stated in the Warrant attached hereto as Exhibit 1 (the "Incentive
Compensation"). The Company shall issue the Warrants contemporaneously with the
Company's execution of this Agreement. The Warrants may be exercised at any time
within ten (10) years of the

                                       2
<PAGE>

issuance of the Warrants. The exercise price shall be $1.00 per share, except as
adjusted pursuant to the Warrant.

                                   ARTICLE 5
                              TERM AND TERMINATION

      Section 5.1. Term.

      This Agreement shall commence on the date hereof and, unless earlier
terminated in accordance herewith, will terminate on the third (3rd) anniversary
of the date hereof (the "Term"). This Agreement will be renewed automatically
for additional one (1) year terms unless either party cancels this Agreement by
written notice to the other party given at least sixty (60) days prior to the
end of the then current term.

      Section 5.2. Termination.

      (a) By the Company. The Company shall have the right to terminate this
Agreement for any reason, upon not less than ninety (90) days prior written
notice to COM.

      (b) By COM. COM may terminate this Agreement:

            (i) if the Company has failed to make any payment pursuant to
      Article 4 within thirty (30) days following COM's written notice to the
      Company of such failure;

            (ii) in the event of a material breach of this Agreement by the
      Company (other than a payment default) which has not been cured within
      thirty (30) days following notice thereof from COM;

            (iii) upon the bankruptcy of the Company; or

            (iv) at any time upon 120 days prior written notice to the Company.

      Section 5.3. Benefits Payable Upon Termination.

      Following the termination of this Agreement for any reason, COM shall be
paid all outstanding reimbursable expenses due to COM as of the date of
termination and any Advisory Fee earned, but unpaid, for services rendered to
the Company on or prior to the date of such termination, but, except for the
issuance of the Warrants in payment of the Incentive Compensation, COM shall not
otherwise be entitled to compensation in respect of its services under this
Agreement. If this Agreement terminates other than on the last day of the month,
COM shall promptly reimburse the Company for the amount of the Advisory Fee paid
with respect to such month and attributable to the period beginning on the date
of termination and ending on the last day of such month. Termination of this
Agreement shall not modify the Company's obligation to issue the Warrants in
payment of the Incentive Compensation.

                                       3
<PAGE>

      Section 5.4. Remedies.

      The remedies set forth herein are not intended to be exclusive, and all
remedies shall be cumulative and may be exercised concurrently with any other
remedy available to COM or the Company at law or in equity.

      Section 5.5. Continuing Obligations.

      After receipt of written notice of termination from the Company, but prior
to the effective date of such termination, COM shall continue to perform under
this Agreement unless specifically instructed to discontinue such performance.
In the event of termination, COM and the Company shall remain liable for their
respective obligations accrued under this Agreement prior to the effective date
of termination.

                                   ARTICLE 6
                            LIMITATIONS OF LIABILITY

      Notwithstanding any other provision of this Agreement, COM shall not be
liable for any failure or delay in its performance hereunder or for any
performance which is substandard, except where such failure, delay or
substandard performance is the result of willful misconduct or gross negligence
on the part of COM. COM shall not be responsible to the Company for any
indirect, incidental, consequential or special damages to the Company, the
business of the Company or any subscriber or customer of any business of the
Company or any other person, including any damage to or loss of revenues,
business or goodwill, suffered by any person or entity for any failure of any
system or failure of performance hereunder.

                                    ARTICLE 7
                            INDEMNIFICATION; EXPENSES

      Section 7.1. Indemnification.

      In the event COM is threatened to be made a party to any threatened,
pending, or completed action, suit, or proceeding (a "Proceeding"), whether
civil, criminal, administrative, or investigative (whether or not by or in the
right of the Company), by reason of the fact that COM is or was COM of the
Company under the terms hereof, COM shall be entitled to be indemnified by the
Company to the full extent then permitted by law against expenses (including
counsel fees and disbursements and fees and disbursements for mediation,
arbitration, trial and appeal), judgments, fines (including excise taxes
assessed on a person with respect to an employee benefit plan), and amounts paid
in settlement incurred by it in connection with such Proceeding.

      Section 7.2. Advancement of Expenses.

      The Company shall from time to time, reimburse or advance to COM the funds
necessary for payment of expenses, including attorneys' fees and disbursements,
incurred in connection with any Proceeding, in advance of the final disposition
of such Proceeding, provided the Company receives an undertaking by or on behalf
of COM to

                                       4
<PAGE>

repay any such amount so advanced if it shall ultimately be determined by final
judicial decision from which there is no further right of appeal that COM is not
entitled to be indemnified for such expenses.

                                   ARTICLE 8
                                 MISCELLANEOUS

      Section 8.1. Counterparts.

      This Agreement may be executed in several counterparts, all of which taken
together shall be deemed to constitute one and the same instrument.

      Section 8.2. Construction.

      Each of the parties hereto acknowledges that it has reviewed this
Agreement and that the normal rule of construction to the effect that any
ambiguities are to be resolved against the drafting party shall not be employed
in the interpretation of this Agreement or any amendments hereto.

      Section 8.3. Benefit; Assignment.

      This Agreement shall be binding upon and inure to the benefit of all
parties hereto and their respective successors and permitted assigns.

      Section 8.4. Complete Agreement.

      This Agreement contains the entire agreement and understanding of the
parties with respect to the subject matter hereof, and supersedes all prior
understandings, agreements, and representations written or oral, relating to
such subject matter.

      Section 8.5. Amendment.

      This Agreement may not be amended except by a writing signed by each of
the parties.

      Section 8.6. Governing Law.

      THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
INTERNAL LAWS, AND NOT THE LAWS OF CONFLICT, OF THE STATE OF WASHINGTON, WITHOUT
REGARD TO PRINCIPLES OF CONFLICTS OF LAW.

      Section 8.7. Severability.

      If any provision of this Agreement or the application thereof to any
person or circumstance shall for any reason or to any extent be invalid or
unenforceable, the remainder of this Agreement and the application of such
provision to other persons or circumstances shall not be affected thereby, but,
rather, shall be enforced to the extent

                                       5
<PAGE>

permitted by law. Furthermore, in lieu of such an illegal, invalid or
unenforceable provision, there shall be added automatically as part of this
Agreement a provision as similar in terms to such illegal, invalid or
unenforceable provision as may be possible and be legal, valid or enforceable.

      Section 8.8. Further Assurances.

      The parties agree that they will take all such further actions and execute
and deliver all such further instruments and documents as may be required in
order to effectuate the agreements set forth in this Agreement.

      Section 8.9. Waiver.

      No failure or delay on the part of the parties or either of them in
exercising any right, power or privilege hereunder, nor any course of dealing
between the parties shall operate as a waiver of any such right, power or
privilege nor shall any single or partial exercise of any such right, power or
privilege preclude the simultaneous or later exercise of any other right, power
or privilege. The rights and remedies herein expressly provided are cumulative
and are not exclusive of any rights or remedies which the parties or either of
them would otherwise have.

      Section 8.10. Notices.

      All notices or other communications hereunder shall be in writing and
shall be deemed to have been duly given or made (i) upon delivery if delivered
personally (by courier service or otherwise) or (ii) upon confirmation of
dispatch if sent by facsimile transmission (which confirmation shall be
sufficient if shown by evidence produced by the facsimile machine used for such
transmission), in each case to the applicable addresses set forth below (or such
other address as the recipient may specify in accordance with this Section):

             to COM at:

             2300 Carillon Point
             Kirkland, Washington 98033-7353
             Attention: President

             to the Company at:

             2300 Carillon Point
             Kirkland, Washington 98033-7353
             Attention: President

                                       6
<PAGE>

             with a copy to:

             Davis Wright Tremaine LLP
             2300 Wells Fargo Tower
             1300 SW Fifth Avenue
             Portland, Oregon 97201
             Attention: Benjamin G. Wolff

                  [SIGNATURES SET FORTH ON THE FOLLOWING PAGE]

                                       7
<PAGE>

      IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first written above.

                                    COMPANY:

                                    FLUX U.S. CORPORATION

                                    By: /s/ R. Gerard Salemme
                                        _____________________________________
                                        R. Gerard Salemme, Its Vice President

                                    COM:

                                    COM HOLDINGS, LLC

                                    By: EAGLE RIVER INC., a Washington
                                        corporation, Its Manager

                                        By: /s/ Brian Marcinek
                                            __________________________________
                                            Brian Marcinek, its Vice President

                 [Signature Page to Advisory Services Agreement]

                                       8
<PAGE>

                                    EXHIBIT 1

                                 FORM OF WARRANT
<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                     Page
                                                                     ----
<S>                                                                  <C>
ARTICLE 1 Engagement.............................................      1

ARTICLE 2 Service Standards......................................      1

ARTICLE 3 Services to be Provided................................      1

ARTICLE 4 Compensation...........................................      2

ARTICLE 5 Term and Termination...................................      3

ARTICLE 6 Limitations of Liability...............................      4

ARTICLE 7 Indemnification; Expenses..............................      4

ARTICLE 8 Miscellaneous..........................................      5
</TABLE>

<PAGE>

                                    EXHIBIT 1

                            FORM OF WARRANT AGREEMENT

                                       2
<PAGE>

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT
   AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR ANY STATE
 SECURITIES LAWS. SUCH SECURITIES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE
OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER SAID ACT AND ANY APPLICABLE
                             STATE SECURITIES LAWS.

                                                                        No. WA-1
                                                       Issued: November 13, 2003

                               WARRANT TO PURCHASE
                        SHARES OF CLASS A COMMON STOCK OF
                              FLUX U.S. CORPORATION
                         (VOID AFTER NOVEMBER 13, 2013)

      This certifies that COM Holdings, LLC, a Delaware limited liability
company, (the "Holder"), for value received, is entitled to purchase from FLUX
U.S. Corporation., a Delaware corporation (the "Company"), having a place of
business at 2300 Carillon Point, Kirkland, Washington 98033-7353, One Million
One Hundred Twenty Five Thousand (1,125,000) fully paid and nonassessable shares
of the Company's Class A Common Stock (the "Common Stock").

      The exercise price per share of this Warrant is one dollar ($1.00) (the
"Stock Purchase Price") payable in lawful money of the United States or
otherwise as hereinafter provided. If payment is by check and the check is not a
check issued by a regulated banking or financial institution the shares to be so
issued shall not be considered issued until such check has cleared.

      This Warrant may be exercised at any time or from time to time up to and
including 5:00 p.m. (Pacific Time) on the tenth anniversary of the issuance date
of this Warrant (the "Expiration Date"), upon surrender to the Company at its
principal office (or at such other location as the Company may advise the Holder
in writing) of this Warrant properly endorsed with the Subscription Form
attached hereto as Exhibit A duly filled in and signed and, if applicable, upon
payment in cash or by check of the aggregate Stock Purchase Price for the number
of shares for which this Warrant is being exercised determined in accordance
with the provisions hereof. The Stock Purchase Price and the number of shares
purchasable hereunder are subject to adjustment as provided in Section 3 of this
Warrant.

1. EXERCISE; ISSUANCE OF CERTIFICATES; PAYMENT FOR SHARES.

      1.1 GENERAL. This Warrant is exercisable at the option of the Holder of
record hereof, at any time or from time to time, up to the Expiration Date for
all or any part of the shares of Common Stock (but not for a fraction of a
share) which may be purchased hereunder.

                                       3
<PAGE>

      1.2 ISSUANCE OF CERTIFICATES. The Company agrees that the shares of Common
Stock purchased under this Warrant shall be and are deemed to be issued to the
Holder hereof as the record owner of such shares as of the close of business on
the date on which the Holder surrenders this Warrant, properly endorsed, and the
completed, executed Subscription Form (a copy of which is attached hereto as
Exhibit A), at the offices of the Company, upon payment made for such shares as
set forth in this Warrant. Certificates for the shares of Common Stock so
purchased, together with any other securities or property to which the Holder
hereof is entitled upon such exercise, shall be delivered to the Holder hereof
by the Company at the Company's expense within a reasonable time (not to exceed
ten (10) business days) after the rights represented by this Warrant have been
so exercised. Each stock certificate so delivered shall be in such denominations
of Common Stock as may be requested by the Holder hereof and shall be registered
in the name of such Holder or, subject to the provisions of Section 7, such
Holder's designee. In case of a purchase of less than all the shares which may
be purchased under this Warrant, the Company shall cancel this Warrant and
execute and deliver a new Warrant or Warrants of like tenor for the balance of
the shares purchasable under the Warrant surrendered upon such purchase to the
Holder hereof within a reasonable time (not to exceed ten (10) business days).

      1.3 CASHLESS EXERCISE. Notwithstanding any provisions herein to the
contrary, in lieu of exercising this Warrant for cash (x) the Holder may pay the
exercise price by surrendering shares of Common Stock or other equity securities
of the Company with an aggregate fair market value equal to the aggregate Stock
Purchase Price, or (y) if the fair market value of one share of the Company's
Common Stock is greater than the Stock Purchase Price (at the date of
calculation as set forth below), the Holder may elect to receive shares equal to
the value (as determined below) of this Warrant (or the portion thereof being
canceled) by surrender of this Warrant at the principal office of the Company
together with the properly endorsed Form of Subscription and notice of such
election in which event the Company shall issue to the Holder a number of shares
of Common Stock computed using the following formula:

          X = Y (A-B)
              -------
                 A

Where     X =   the number of shares of Common Stock to be issued to the Holder

          Y =   the number of shares of Common Stock purchasable under the
                Warrant or, if only a portion of the Warrant is being exercised,
                the portion of the Warrant being canceled (at the date of such
                calculation)

          A =   the Fair Market Value, defined below, of one share of the
                Company's Common Stock (at the date of such calculation)

          B =   Stock Purchase Price (as adjusted to the date of such
                calculation)

For purposes of the above calculation, the Fair Market Value of one share of
Common Stock shall be determined by the Company's Board of Directors in good
faith; provided,

                                       4
<PAGE>

however, that where there exists a public market for the Company's Common Stock
at the time of such exercise, the Fair Market Value per share shall be the
average of the closing bid and ask prices of the Common Stock quoted in the
Over-The-Counter Market Summary or the last reported sale price of the Common
Stock or the closing price quoted on the Nasdaq National Market or on any
exchange on which the Common Stock is listed, whichever is applicable, as
published in the Western Edition of The Wall Street Journal for the five (5)
trading days prior to the date of calculation of Fair Market Value.
Notwithstanding the foregoing, in the event the Warrant is exercised in
connection with the Company's initial public offering of Common Stock, the Fair
Market Value per share shall be the per share offering price to the public of
the Company's Common Stock.

2. SHARES TO BE FULLY PAID; RESERVATION OF SHARES. The Company covenants and
agrees that all shares of Common Stock that may be issued upon the exercise of
the rights represented by this Warrant will, upon issuance, be duly authorized,
validly issued, fully paid and nonassessable and free from all preemptive rights
of any stockholder and free of all taxes, liens and charges with respect to the
issue thereof. The Company further covenants and agrees that, during the period
within which the rights represented by this Warrant may be exercised, the
Company will at all times have authorized and reserved or, shall upon request of
the Holder authorize and reserve, for the purpose of issue or transfer upon
exercise of the subscription rights evidenced by this Warrant, a sufficient
number of shares of authorized but unissued Common Stock, or other securities
and property, when and as required to provide for the exercise of the rights
represented by this Warrant. The Company will take all such action as may be
necessary to assure that such shares of Common Stock may be issued as provided
herein without violation of any applicable law or regulation, or of any
requirements of any domestic securities exchange upon which the Common Stock may
be listed, including, but not limited to, amending its Certificate of
Incorporation to provide sufficient reserves of shares of Common Stock;
provided, however, that the Company shall not be required to effect a
registration under Federal or State securities laws with respect to such
exercise. The Company will not take any action that would result in any
adjustment of the Stock Purchase Price (as set forth in Section 3 hereof) if the
total number of shares of Common Stock issuable after such action upon exercise
of all outstanding warrants and options, together with all shares of Common
Stock then outstanding, would exceed the total number of shares of Common Stock
then authorized by the Company's Certificate of Incorporation.

3. ADJUSTMENT OF STOCK PURCHASE PRICE AND NUMBER OF SHARES. The Stock Purchase
Price and the number of shares purchasable upon the exercise of this Warrant
shall be subject to adjustment from time to time upon the occurrence of certain
events described in this Section 3. Upon each adjustment of the Stock Purchase
Price, the Holder of this Warrant shall thereafter be entitled to purchase, at
the Stock Purchase Price resulting from such adjustment, the number of shares
obtained by multiplying the Stock Purchase Price in effect immediately prior to
such adjustment by the number of shares purchasable pursuant hereto immediately
prior to such adjustment, and dividing the product thereof by the Stock Purchase
Price resulting from such adjustment.

                                       5
<PAGE>

      3.1 SUBDIVISION OR COMBINATION OF STOCK. In case the Company shall at any
time split or subdivide its outstanding shares of Common Stock into a greater
number of shares, the Stock Purchase Price in effect immediately prior to such
split or subdivision shall be proportionately reduced, and conversely, in case
the outstanding shares of Common Stock of the Company shall be combined into a
smaller number of shares, the Stock Purchase Price in effect immediately prior
to such combination shall be proportionately increased.

      3.2 DIVIDENDS IN COMMON STOCK, OTHER STOCK, PROPERTY, RECLASSIFICATION. If
at any time or from time to time the Holders of Common Stock (or any shares of
stock or other securities at the time receivable upon the exercise of this
Warrant) shall have received or become entitled to receive, without payment
therefor:

            3.2.1 Common Stock or any shares of stock or other securities that
are at any time directly or indirectly convertible into or exchangeable for
Common Stock, or any rights or options to subscribe for, purchase or otherwise
acquire any of the foregoing by way of dividend or other distribution;

            3.2.2 Any cash paid or payable otherwise than as a cash dividend out
of current earnings; or

            3.2.3 Common Stock or additional stock or other securities or
property (including cash) by way of spin-off, split-up, reclassification,
combination of shares or similar corporate rearrangement (other than (i) shares
of Common Stock issued as a stock split, adjustments in respect of which shall
be covered by the terms of Section 3.1 above or (ii) an event for which
adjustment is otherwise made pursuant to Section 3.3 below);

then in each such case, the Holder hereof shall, upon the exercise of this
Warrant, be entitled to receive, in addition to the number of shares of Common
Stock receivable thereupon, and without payment of any additional consideration
therefor, the amount of stock and other securities and property (including cash
in the cases referred to in clauses 3.2.2 and 3.2.3 above) which such Holder
would hold on the date of such exercise had he or it been the holder of record
of such Common Stock as of the date on which holders of Common Stock received or
became entitled to receive such shares or all other additional stock and other
securities and property.

      3.3 REORGANIZATION, RECLASSIFICATION OR RECAPITALIZATION. If any
recapitalization, reclassification or capital reorganization of the capital
stock of the Company shall be effected in such a way that holders of Common
Stock shall be entitled to receive stock, securities, or other assets or
property (a "Restructuring"), then, as a condition of such Restructuring, lawful
and adequate provisions shall be made whereby the Holder hereof shall thereafter
have the right to purchase and receive (in lieu of or in addition to the shares
of the Common Stock of the Company immediately theretofore purchasable and
receivable upon the exercise of the rights represented hereby) such shares of
stock, securities or other assets or property as may be issued or payable with
respect to or in exchange for a number of outstanding shares of such Common
Stock equal to the number of shares of such stock immediately

                                       6
<PAGE>

theretofore purchasable and receivable upon the exercise of the rights
represented hereby and appropriate provision shall be made with respect to the
rights and interests of the Holder of this Warrant to the end that the
provisions hereof (including, without limitation, provisions for adjustments of
the Stock Purchase Price and of the number of shares purchasable and receivable
upon the exercise of this Warrant) shall thereafter be applicable, as nearly as
may be, in relation to any shares of stock, securities or assets thereafter
deliverable upon the exercise hereof.

      3.4 NOTICE OF ADJUSTMENT. Upon any adjustment of the Stock Purchase Price,
any increase or decrease in the number of shares purchasable upon the exercise
of this Warrant or any change in the securities or other property deliverable
upon exercise of this Warrant, the Company shall give written notice thereof, by
first class mail, postage prepaid, addressed to the registered Holder of this
Warrant at the address of such Holder as shown on the books of the Company. The
notice shall be signed by the Company's President and shall state the Stock
Purchase Price resulting from such adjustment, the increase or decrease, if any,
in the number of shares purchasable at such price upon the exercise of this
Warrant or the amount of securities or other property deliverable upon such
exercise, setting forth in reasonable detail the method of calculation and the
facts upon which such calculation is based.

      3.5 OTHER NOTICES. If at any time:

            3.5.1 the Company shall declare any cash dividend upon its Common
Stock;

            3.5.2 the Company shall declare any dividend upon its Common Stock
payable in stock or make any special dividend or other distribution to the
holders of its Common Stock;

            3.5.3 there shall be any Restructuring;

            3.5.4 there shall be a voluntary or involuntary dissolution,
liquidation or winding-up of the Company; or

            3.5.5 there shall be an initial public offering of Company
securities;

then, in any one or more of said cases, the Company shall give, by first class
mail, postage prepaid, overnight courier or facsimile, addressed to the Holder
of this Warrant at the address of such Holder as shown on the books of the
Company, (a) at least fifteen (15) days prior written notice of the date on
which the books of the Company shall close or a record shall be taken for such
dividend, distribution or subscription rights or for determining rights to vote
in respect of any such Restructuring, dissolution, liquidation or winding-up,
and (b) in the case of any such Restructuring, dissolution, liquidation,
winding-up or public offering, at least fifteen (15) days prior written notice
of the date when the same shall take place; provided, however, that if any
response on the part of the Holder is otherwise required, the Holder shall make
its best efforts to respond to such notice as early as possible after the
receipt thereof. Any notice given in accordance with the foregoing clause (a)
shall also specify, in the case of any such dividend, distribution or
subscription rights, the date on which the holders of Common

                                       7
<PAGE>

Stock shall be entitled thereto. Any notice given in accordance with the
foregoing clause (b) shall also specify the date on which the holders of Common
Stock shall be entitled to exchange their Common Stock for securities or other
property deliverable upon such Restructuring, dissolution, liquidation,
winding-up or public offering, as the case may be.

      3.6 CERTAIN EVENTS. If any change in the outstanding Common Stock of the
Company or any other event occurs as to which the other provisions of this
Section 3 are not strictly applicable or if strictly applicable would not fairly
protect the purchase rights of the Holder of the Warrant in accordance with such
provisions, the Board of Directors of the Company shall make an adjustment in
the number and class of shares available under the Warrant, the Stock Purchase
Price or the application of such provisions, so as to protect such purchase
rights as aforesaid. The adjustment shall be such as will give the Holder of the
Warrant upon exercise for the same aggregate Stock Purchase Price the total
number, class and kind of shares as it would have owned had the Warrant been
exercised prior to the event and had it continued to hold such shares until
after the event requiring adjustment.

4. ISSUE TAX. The issuance of certificates for shares of Common Stock upon the
exercise of the Warrant shall be made without charge to the Holder of the
Warrant for any issue tax (other than any applicable income taxes) in respect
thereof; provided, however, that the Company shall not be required to pay any
tax that may be payable in respect of any transfer involved in the issuance and
delivery of any certificate in a name other than that of the then Holder of the
Warrant being exercised.

5. CLOSING OF BOOKS. The Company will at no time close its transfer books
against the transfer of any warrant or of any shares of Common Stock issued or
issuable upon the exercise of any warrant in any manner that interferes with the
timely exercise of this Warrant.

6. NO VOTING OR DIVIDEND RIGHTS; LIMITATION OF LIABILITY. Nothing contained in
this Warrant shall be construed as conferring upon the Holder hereof the right
to vote or to consent or to receive notice as a stockholder of the Company or
any other matters or any rights whatsoever as a stockholder of the Company. No
dividends or interest shall be payable or accrued in respect of this Warrant or
the interest represented hereby or the shares purchasable hereunder until, and
only to the extent that, this Warrant shall have been exercised. No provision
hereof in the absence of affirmative action by the Holder to purchase shares of
Common Stock, and no mere enumeration herein of the rights or privileges of the
Holder hereof, shall give rise to any liability of such Holder for the Stock
Purchase Price or as a stockholder of the Company, whether such liability is
asserted by the Company or by its creditors.

7. TRANSFER RESTRICTIONS. Subject to (i) delivery of a written acknowledgement
by a transferee of this Warrant or any rights under this Warrant, that the
transferee is bound by the terms of this Warrant and will be, upon exercise of
this Warrant, bound by the terms of that certain Stockholders' Agreement dated
November 13, 2003 between the Company and certain shareholders and (ii)
compliance with applicable federal and state securities laws, this Warrant and
all rights hereunder are transferable, in whole or

                                       8
<PAGE>

in part, without charge to the Holder hereof (except for transfer taxes), upon
surrender of this Warrant properly endorsed and in compliance with such
provisions. The Company will maintain a register (the "Warrant Register")
containing the names and addresses of the Holder or Holders. Any Holder of this
Warrant or any portion thereof may change its address as shown on the Warrant
Register by written notice to the Company requesting such change. Any notice or
written communication required or permitted to be given to the Holder may be
delivered or given by mail to such Holder as shown on the Warrant Register and
at the address shown on the Warrant Register. Until this Warrant is transferred
on the Warrant Register of the Company, the Company may treat the Holder as
shown on the Warrant Register as the absolute owner of this Warrant for all
purposes, notwithstanding any notice to the contrary. This Warrant may not be
transferred or assigned without compliance with all applicable federal and state
securities laws by the transferor and the transferee. The Holder further agrees
not to make any disposition of all or any portion of this Warrant or any shares
of Common Stock or any security into or for which such Common Stock is exchanged
unless and until the transferee has agreed in writing for the benefit of the
Company to be bound by this Section 7 to the extent such section is then
applicable, and:

            (A) There is then in effect a registration statement under the 1933
Act covering such proposed disposition and such disposition is made in
accordance with such registration statement; or

            (B) (i) the Holder shall have notified the Company of the proposed
disposition and shall have furnished the Company with a detailed statement of
the circumstances surrounding the proposed disposition and (ii) if reasonably
requested by the Company, the Holder shall have furnished the Company with an
opinion of counsel, reasonably satisfactory to the Company, that such
disposition will not require registration of such securities under the 1933 Act.

8. RIGHTS AND OBLIGATIONS SURVIVE EXERCISE OF WARRANT. The rights and
obligations of the Company, of the holder of this Warrant and of the holder of
shares of Common Stock issued upon exercise of this Warrant, referred to in
Section 7, shall survive the exercise of this Warrant.

9. MODIFICATION AND WAIVER. The terms of this Warrant may be amended, or the
observance of any term of this Warrant may be waived (either generally or in a
particular instance and either retroactively or prospectively), only with the
written consent of the Company and the Holder of this Warrant.

10. NOTICES. Any notice, request or other document required or permitted to be
given or delivered to the Holder hereof or the Company shall be delivered or
shall be sent by first-class mail, postage prepaid, to the Holder at its address
as shown on the Warrant Register or to the Company at the address indicated
therefor in the first paragraph of this Warrant, or such other address as either
may from time to time provide to the other.

11. DESCRIPTIVE HEADINGS AND GOVERNING LAW. The description headings of the
several sections and paragraphs of this Warrant are inserted for convenience
only and

                                       9
<PAGE>

do not constitute a part of this Warrant. This Warrant shall be construed and
enforced in accordance with, and the rights of the parties shall be governed by,
the laws of the State of Washington.

12. LOST WARRANTS. The Company represents and warrants to the Holder hereof that
upon receipt of evidence reasonably satisfactory to the Company of the loss,
theft, destruction, or mutilation of this Warrant and, in the case of any such
loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory
to the Company, or in the case of any such mutilation upon surrender and
cancellation of such Warrant, the Company, at its expense, will make and deliver
a new Warrant, of like tenor, in lieu of the lost, stolen, destroyed or
mutilated Warrant.

13. FRACTIONAL SHARES. No fractional shares shall be issued upon exercise of
this Warrant. The Company shall, in lieu of issuing any fractional share, pay
the Holder entitled to such fraction a sum in cash equal to such fraction
multiplied by the then effective Fair Market Value of the Common Stock.

      IN WITNESS WHEREOF, the Company has caused this Warrant to be duly
executed by its President, thereunto duly authorized as of the date first
written above.

                             FLUX U.S. CORPORATION
                             a Delaware corporation

                             By: ____________________________________________
                                 R. Gerard Salemme
                             Title: Vice President

                                       10
<PAGE>

                                    EXHIBIT A

                                SUBSCRIPTION FORM

                                                      Date:______________, 20___

FLUX U.S. Corporation
_____________________
_____________________

Ladies and Gentlemen:

[ ]   The undersigned hereby elects to exercise the warrant issued to it by FLUX
      U.S. Corporation (the "Company") and dated ______________, 200_, Warrant
      No. ___ (the "Warrant") and to purchase thereunder __________ shares of
      the Class A Common Stock of the Company (the "Shares") at a purchase price
      of $1.00 per Share, or an aggregate purchase price of
      _______________________ ($__________) (the "Purchase Price").

[ ]   The undersigned hereby elects to convert ___________________ percent
      (___%) of the value of the Warrant pursuant to the provisions of Section
      1.3 of the Warrant.

      Pursuant to the terms of the Warrant the undersigned has delivered the
Purchase Price herewith in full in cash or by certified check or wire transfer.
The undersigned also makes the representations set forth on the attached Exhibit
B of the Warrant.

                                       Very truly yours,

                                       _______________________________________

                                       By:____________________________________

                                       Title:_________________________________

                                       1

<PAGE>

                                    EXHIBIT B

                           INVESTMENT REPRESENTATIONS

THIS AGREEMENT MUST BE COMPLETED, SIGNED AND RETURNED TO FLUX U.S. CORPORATION
ALONG WITH THE SUBSCRIPTION FORM BEFORE THE COMMON STOCK ISSUABLE UPON EXERCISE
OF THE WARRANT DATED __________________, 200__, WILL BE ISSUED.

                                                           _____________________

FLUX U.S. Corporation
_______________________
_______________________

Ladies and Gentlemen:

      The undersigned, _________________________ ("Purchaser"), intends to
acquire up to ______________ shares of the Class A Common Stock (the "Common
Stock") of FLUX U.S. Corporation (the "Company") from the Company pursuant to
the exercise or conversion of certain Warrants to purchase Common Stock held by
Purchaser. The Common Stock will be issued to Purchaser in a transaction not
involving a public offering and pursuant to an exemption from registration under
the Securities Act of 1933, as amended (the "1933 Act") and applicable state
securities laws. Purchaser has been advised that the Common Stock has not been
registered under the 1933 Act or state securities laws on the ground that this
transaction is exempt from registration, and that reliance by the Company on
such exemptions is predicated in part on Purchaser's representations set forth
in this letter. Accordingly, Purchaser represents, warrants and agrees as
follows:

      1. Purchaser is acquiring the Common Stock for its own account and
beneficial interest to hold for investment and not for sale or with a view to
distribution of the Common Stock or any part thereof. Purchaser has no present
intention of selling (in connection with a distribution or otherwise), granting
any participation in, or otherwise distributing the same, and does not presently
have reason to anticipate a change in such intention.

      2. Purchaser acknowledges that it has received all the information it has
requested from the Company and considers necessary or appropriate for deciding
whether to acquire the Common Stock. Purchaser represents that it has had an
opportunity to ask questions and receive answers from the Company regarding the
terms and conditions of the offering of the Common Stock and to obtain any
additional information necessary to verify the accuracy of the information given
the Purchaser. Purchaser further represents that it has such knowledge and
experience in financial and business matters that it is capable of evaluating
the merits and risk of this investment.

                                        i
<PAGE>

      3. Purchaser is an "accredited investor" as such term is defined in Rule
501 under the 1933 Act.

      4. Purchaser acknowledges that investment in the Common Stock involves a
high degree of risk, and represents that it is able, without materially
impairing its financial condition, to hold the Common Stock for an indefinite
period of time and to suffer a complete loss of its investment.

      5. Purchaser has been informed that under the 1933 Act, the Common Stock
must be held indefinitely unless it is subsequently registered under the 1933
Act or unless an exemption from such registration (such as Rule 144) is
available with respect to any proposed transfer or disposition by Purchaser of
the Common Stock. Purchaser further agrees that the Company may refuse to permit
Purchaser to sell, transfer or dispose of the Common Stock (except as permitted
under Rule 144) unless there is in effect a registration statement under the
1933 Act and any applicable state securities laws covering such transfer, or
unless Purchaser furnishes an opinion of counsel reasonably satisfactory to
counsel for the Company, to the effect that such registration is not required.
Purchaser shall not make any sale, transfer or other disposition of the Common
Stock in violation of the 1933 Act or the General Rules and Regulations
promulgated thereunder by the Securities and Exchange Commission or in violation
of any applicable state securities law.

      6. Purchaser also understands and agrees that there will be placed
on the certificate(s) for the Common Stock, or any substitutions therefor, a
legend stating in substance:

      "The shares represented by this certificate have not been registered under
      the Securities Act of 1933, as amended (the "1933 Act"), or any state
      securities laws. These shares have been acquired for investment and may
      not be sold or otherwise transferred in the absence of an effective
      registration statement for these shares under the 1933 Act and applicable
      state securities laws, or, if requested by the Company, an opinion of
      counsel satisfactory to the Company that registration is not required and
      that an applicable exemption is available."

         Purchaser has carefully read this letter and has discussed its
requirements and other applicable limitations upon Purchaser's resale of the
Common Stock with Purchaser's counsel.

                                       Very truly yours,

                                       ___________________________________

                                       By: _______________________________

                                       Title: ____________________________

                                       ii

<PAGE>

                    ASSIGNMENT OF ADVISORY SERVICES AGREEMENT

      THIS ASSIGNMENT (this "Assignment") is made and delivered on this ___ day
of ____________ , 2003 by and between COM Holdings, LLC, a Washington limited
liability company ("Assignor") and Eagle River, Inc., a Washington corporation
("Assignee").

                                    RECITALS

      A. Assignor has agreed to provide advisory services to Flux U.S.
Corporation, a Delaware corporation ("FUS"), pursuant to that certain Advisory
Services Agreement dated November 13, 2003 by and between Assignor and FUS (as
the same may be amended, the "Agreement").

      B. Assignor desires to assign to Assignee all of Assignor's right, title
and interest in and under the Agreement with the exception of warrants
previously granted to Assignor under the Agreement; and Assignee desires to
accept such assignment and assume all of Assignor's duties and obligations
thereunder.

      Assignor and Assignee hereby agree as follows:

      1. Assignment. Assignor does hereby assign, grant, transfer, convey, and
set over unto Assignee all of Assignor's rights, title and interest in and to
the Agreement, with the exception of warrants previously granted under the
Agreement, free and clear of all encumbrances, together with such other rights,
causes of action and remedies as may arise by operation of law, in law or
equity, in connection with the Agreement.

      2. Acceptance. Assignee hereby accepts such assignment and assumes and
agrees to perform all of Assignor's duties and obligations arising under the
Agreement.

      3. No Amendment. This Assignment and Assumption is made subject to and
with the benefit of the respective representations and warranties, covenants,
terms, conditions and other provisions of the Agreement, which shall survive the
execution and delivery of this Assignment. This Assignment shall not in any way
supersede, modify, alter or amend the Agreement, which remains in full force and
effect and the parties thereto shall have the rights, duties and obligations
provided for thereunder, nor shall it subject Assignee to any greater
liabilities, obligations or duties in connection therewith than would have been
enforceable against Assignor. In the event of any conflict or other
inconsistency between this Assignment and the Agreement, the Agreement shall be
the controlling agreement.

      4. Binding Effect. This Assignment and Assumption shall be binding upon
and shall inure to the benefit of the parties thereto and their respective
successors and assigns.

         5. Governing Law. This Assignment and Assumption shall be governed by
and interpreted in accordance with the laws of the State of Washington.

                                       iii
<PAGE>

      This Assignment and Assumption may be executed in any number of
counterparts, each of which shall be an original, and all of which shall
together constitute one and the same agreement.

      IN WITNESS WHEREOF, Assignee and Assignor have caused this Assignment to
be executed in their names and on their behalf by their duly authorized
officers, on the date first written above.

      ASSIGNOR:                      COM HOLDINGS, LLC, a Washington limited
                                     liability company

                                     By:    EAGLE RIVER, INC., a Washington
                                            corporation, Its Manager

                                            By:   ______________________________
                                                  Brian Marcinek, Vice President

      ASSIGNEE:                      EAGLE RIVER, INC., a Washington corporation

                                     By:    ____________________________________
                                            Brian Marcinek, Vice President

      The undersigned hereby acknowledges and consents to the above-referenced
Assignment.

                                     FLUX U.S. CORPORATION., a Delaware
                                     corporation

                                     By:    ____________________________________
                                            R. Gerard Salemme, Vice President

                                       iv

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