Document:

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                                                                EXHIBIT 10.15

                         PREFERRED STOCK PURCHASE AGREEMENT

       PREFERRED STOCK PURCHASE AGREEMENT, dated as of February 16, 2000 (this
"AGREEMENT"), by and between UBIQUITEL HOLDINGS, INC., a Delaware corporation
(the "COMPANY"), and DLJ MERCHANT BANKING PARTNERS II, L.P., a Delaware limited
partnership (the "INVESTOR").

       SECTION 1.     ISSUANCE AND SALE OF SENIOR PREFERRED STOCK.

       (a)    INITIAL PURCHASE AND SALE.  Subject to the terms and conditions
set forth in this Agreement, the Investor hereby agrees to purchase from the
Company, and the Company hereby agrees to issue and sell to the Investor,
2,110,347 shares (the "INITIAL SHARES") of the Company's 7% Senior Pay-in-Kind
Non-Voting Convertible Preferred Stock (the "SENIOR PREFERRED STOCK"), at a
price of $11.85 per share, for an aggregate purchase price (the "INITIAL
PURCHASE PRICE") of $25,000,000 (the "INITIAL PURCHASE").

       (b)    ADDITIONAL PURCHASE AND SALE.  In addition to the Initial
Purchase, subject to the terms and conditions set forth in this Agreement, the
Investor hereby agrees to purchase from the Company, if requested by the Company
by delivery of the notice referred to in paragraph (c) of this Section 1,
11,837,024 additional shares (the "ADDITIONAL SHARES" and, together with the
Initial Shares, the "SHARES") of Senior Preferred Stock, at a price of $8.45 per
share, for an aggregate purchase price (the "ADDITIONAL PURCHASE PRICE") of
$100,000,000 (the "ADDITIONAL PURCHASE").

       (c)    THE CLOSINGS.  Subject to the terms and conditions set forth in
this Agreement, the closing of the Initial Purchase (the "INITIAL CLOSING")
shall take place on the date of this Agreement, or on such other date as may be
agreed to in writing by the Company and the Investor (in either case, the
"INITIAL CLOSING DATE"), at the offices of Latham & Watkins, 885 Third Avenue,
New York, New York 10022.  In addition, subject to the terms and conditions set
forth in this Agreement, the closing of the Additional Purchase (the "ADDITIONAL
CLOSING") shall take place on June 30, 2000, or on such other date as may be
agreed to in writing by the Company and the Investor (in either case, the
"ADDITIONAL CLOSING DATE"), at the above offices of Latham & Watkins.

       (d)    ISSUANCE OF THE SHARES.  The Shares will be issued pursuant to a
certificate of designations, preferences and relative participating, optional
and other rights in the form of Exhibit A (the "CERTIFICATE OF DESIGNATIONS"),
which has been or, on the Initial Closing Date will be, filed with the Secretary
of State of the State of Delaware.   As of the Initial Closing Date, each Share
will be convertible into one share (each, a "VOTING PREFERRED SHARE") of the
Company's 7% Senior Pay-in-Kind Convertible Preferred Stock (the "VOTING
PREFERRED STOCK"), which in turn will be convertible into one share (each, a
"CONVERSION SHARE") of voting common stock, par value $.001 per share (the
"COMMON STOCK"), of the Company.  The Voting Preferred Shares will be issued
pursuant to a certificate of designations, preferences and relative
participating, optional and other rights in the form of Exhibit B (the "VOTING
CERTIFICATE OF DESIGNATIONS" and, together with the Certificate of Designations,
the "CERTIFICATES OF

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DESIGNATIONS"), which has been or, on the Initial Closing Date will be, filed
with the Secretary of State of the State of Delaware.

       (e)    DELIVERIES AT CLOSING.  At each of the Initial Closing and the
Additional Closing, the Company shall deliver to the Investor a certificate or
certificates representing the Initial Shares or the Additional Shares, as the
case may be, registered in such name or names as requested in writing by the
Investor at least one business day prior to such closing (or, if no such request
has been made, in the name of the Investor), against payment of the Initial
Purchase Price or the Additional Purchase Price, as the case may be, by wire
transfer in same day funds to an account designated in writing by the Company at
least two business days prior to such closing (or, if no such designation has
been made, by check payable to the Company); PROVIDED, HOWEVER, that the
Investor may retain from such payments any amounts then due and payable by the
Company pursuant to Section 11 hereof.

       (f)    DISTRIBUTIONS PAYABLE AT ADDITIONAL CLOSING.  If, prior to the
Additional Closing Date, the Company declares any dividend or other distribution
(a "DISTRIBUTION") in respect of any of its capital stock (the "SUBJECT STOCK")
such that, pursuant to the terms of the Certificate of Designations, holders of
the Additional Shares would have been entitled to receive such Distribution had
such Additional Shares been outstanding on the record date for such Distribution
(the "RECORD DATE"), then (i) if such Distribution has already been made to
holders of the Subject Stock, the Company shall distribute to the Investor on
the Additional Closing Date the Distribution that the Investor would have
received had the Investor owned the Additional Shares on the Record Date, and
(ii) if such Distribution has not yet been made to holders of the Subject Stock,
the Company shall make such Distribution to the Investor on the same date that
it is made to holders of the Subject Stock.

       (g)    SHAREHOLDERS' AGREEMENTS.  At each of the Initial Closing and the
Additional Closing, the Company and the Investor shall execute a shareholders'
agreement in the form of Exhibit C, in the case of the Initial Closing (the
"INITIAL SHAREHOLDERS' AGREEMENT"), and in the form of Exhibit D, in the case of
the Additional Closing (the "ADDITIONAL SHAREHOLDERS' AGREEMENT" and, together
with the Initial Shareholders' Agreement, the "SHAREHOLDERS' AGREEMENTS").

       SECTION 2.     REPRESENTATIONS AND WARRANTIES OF THE COMPANY.  The
Company hereby represents and warrants to the Investor as of the date hereof, as
of the Initial Closing Date, and as of the Additional Closing Date (as though
made as of each such date) as follows:

       (a)    ORGANIZATION AND GOOD STANDING; POWER AND AUTHORITY;
QUALIFICATIONS.  The Company:

              (i)     is a corporation duly incorporated, validly existing and
       in good standing under the laws of the State of Delaware;

              (ii)    has all requisite corporate power and authority to own,
       lease and operate its properties and to carry on its business as
       presently and as proposed to be conducted;

              (iii)   has all requisite corporate power and authority to enter
       into and carry out the transactions contemplated by this Agreement, the
       Certificates of Designations and the Shareholders' Agreements;

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              (iv)    is qualified to do business as a foreign corporation and
       is in good standing in the States of Nevada and California; and

              (v)     is not qualified, and is not required to qualify, to do
       business as a foreign corporation in any jurisdiction other than the
       States of Nevada and California.

       (b)    SUBSIDIARIES.  The Company has no subsidiaries other than
UbiquiTel, LLC, a Delaware limited liability company (the "SUBSIDIARY").  The
Subsidiary:

              (i)     is a limited liability company duly formed, validly
       existing and in good standing under the laws of the State of Delaware;

              (ii)    has all requisite corporate power and authority to own,
       lease and operate its properties and to carry on its business as
       presently and as proposed to be conducted;

              (iii)   is qualified to do business as a foreign corporation and
       is in good standing in the States of Nevada and California hereto; and

              (iv)    is not qualified, and is not required to qualify, to do
       business as a foreign corporation in any jurisdiction other than the
       States of Nevada and California.

The Company is the sole member of the Subsidiary, and no other person owns any
equity or other similar interests in the Subsidiary.  For purposes of this
Agreement, a "subsidiary" of the Company includes any company, limited liability
company, general or limited partnership or other entity:

              (v)     of which at least a majority of the shares of capital
       stock or other ownership interests having ordinary voting power to elect
       a majority of the board of directors or other similar managing body of
       such company, partnership or other entity are at the time owned or
       controlled, directly or indirectly, by the Company; or

              (vi)    the management of which is otherwise controlled, directly
       or indirectly, through one or more intermediaries by the Company.

       (c)    AUTHORIZATION OF TRANSACTIONS.  The execution and delivery by the
Company of this Agreement, the Certificates of Designations and the
Shareholders' Agreements, and the performance by the Company of its obligations
hereunder and thereunder, have been duly authorized by all requisite corporate
action on the part of the Company and its shareholders.  This Agreement, the
Certificates of Designations, and the Initial Shareholders' Agreement have been
duly executed and delivered and constitute, and the Additional Shareholders'
Agreement, if and when executed and delivered in accordance with this Agreement,
will constitute, the legal, valid and binding obligations of the Company,
enforceable against the Company in accordance with their terms.

       (d)    CAPITALIZATION OF THE COMPANY.  Immediately prior to the Initial
Closing, the capitalization of the Company consists of:

              (i)     Common Stock, of which 150,000,000 shares are authorized
       and (A) 3,417,000 shares are issued and outstanding and owned, of record
       and beneficially, by, and in the amounts set forth opposite the names of,
       the persons listed on SCHEDULE 2(d)

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       hereto, (B) 2,040,000 shares are reserved for issuance pursuant to the
       Company's 2000 Equity Incentive Plan, (C) 17,008,500 shares are reserved
       for issuance upon the conversion of the Company's Series A Preferred
       Stock, par value $.001 per share (the "SERIES A PREFERRED STOCK"), and
       (D) 2,489,075 shares are reserved for issuance upon the exercise of a
       warrant (the "BET WARRANT") issued to BET Associates, L.P. ("BET");

              (ii)    non-voting common stock, par value $.001 per share (the
       "NON-VOTING COMMON STOCK"), of which 17,000,000 shares are authorized and
       (A) 16,000,000 shares are issued and outstanding and (B) 574,402 shares
       are reserved for issuance upon the exercise of a warrant (the "PARIBAS
       WARRANT") issued to Paribas North America, Inc. ("PARIBAS"); and

              (iii)   preferred stock, of which 125,000,000 shares are
       authorized and (A) 17,008,500 shares have been designated as the Series A
       Preferred Stock and are issued and outstanding, (B) 35,000,000 shares
       have been or will be designated as the Senior Preferred Stock to be
       issued pursuant to this Agreement, and (C) 35,000,000 shares have been or
       will be designated as the Voting Preferred Stock to be issued upon
       conversion of the Senior Preferred Stock.

All of the issued and outstanding shares of Common Stock, Non-Voting Common
Stock and Series A Preferred Stock are validly issued, fully paid and
nonassessable.  No series of preferred stock have been designated by the
Company other than the Series A Preferred Stock, the Senior Preferred Stock
and the Voting Preferred Stock.  Except as set forth in the first sentence of
this paragraph (d), there are no outstanding (A) shares of capital stock or
voting securities of the Company, (B) securities of the Company convertible
into or exchangeable for shares of capital stock or voting securities of the
Company, (C) options or other rights to acquire, or other obligations of the
Company to issue, any capital stock, voting securities or securities
convertible into or exchangeable for capital stock or voting securities of
the Company, or (D) obligations of the Company to repurchase, redeem, or
otherwise acquire or retire any securities of the type described in clause
(A), (B) or (C) of this sentence. Other than those agreements set forth on
SCHEDULE 2(d) hereto, the Company is not a party to any, and to the best of
the Company's knowledge there are no, agreements, restrictions or
encumbrances with respect to the purchase, sale or voting of the Company's
securities, including, without limitation, preemptive rights, rights of first
refusal, rights of first offer, proxies, voting agreements, voting trusts,
registration rights agreements or shareholders' agreements.

       (e)    AUTHORIZATION AND ISSUANCE OF SHARES.  The Shares have been duly
and validly authorized and, when issued, sold and delivered against payment
therefor in accordance with the terms of this Agreement, will be validly issued,
fully paid and nonassessable.

       (f)    AUTHORIZATION AND ISSUANCE OF VOTING PREFERRED SHARES AND
CONVERSION SHARES.  The Voting Preferred Shares initially issuable upon
conversion of the Shares have been duly and validly authorized and reserved for
issuance by the Company and, if and when issued in accordance with the
Certificate of Designations, will be validly issued, fully paid and
nonassessable.  The Conversion Shares initially issuable upon conversion of the
Shares and the Voting Preferred Shares have been duly and validly authorized and
reserved for issuance by the Company and, if and when issued in accordance with
the Voting Certificate of Designations, will be validly issued, fully paid and
nonassessable.

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       (g)    FINANCIAL STATEMENTS.  The Company has made available to the
Investor the audited consolidated financial statements of the Company as of and
for the year ended December 31, 1999.  Such historical financial statements:

              (i)     are in accordance with the books and records of the
       Company and the Subsidiary;

              (ii)    have been prepared in accordance with generally accepted
       accounting principles in the United States consistently applied ("GAAP");
       and

              (iii)   fairly present the consolidated financial position and
       results of operations of the Company as of the dates and for the periods
       presented.

The Company has made available to the Investor consolidated financial statement
forecasts as of December 31 of and for each of the years in the ten-year period
ending December 31, 2010.  Such financial statement forecasts were prepared in
good faith based on the assumptions set forth therein, which assumptions:

              (A)     the Company believes to be reasonable as of the date
       hereof; and

              (B)     include all assumptions that the Company believes are
       significant in forecasting the Company's financial position and results
       of operations as of such dates and for such periods, although actual
       results may differ materially from the results projected in such
       forecasts.

       (h)    ABSENCE OF UNDISCLOSED LIABILITIES.  Neither the Company nor the
Subsidiary has any liabilities or obligations (whether known or unknown,
accrued, absolute, contingent, unliquidated or otherwise, whether due or to
become due) other than:

              (i)     liabilities or obligations reserved against or otherwise
       disclosed in the Company's consolidated balance sheet (the "BALANCE
       SHEET") as of December 31, 1999 (the "BALANCE SHEET DATE"), or the
       footnotes thereto;

              (ii)    other liabilities or obligations which were incurred
       after the Balance Sheet Date in the ordinary course of business
       consistent (in amount and kind) with past practice (none of which is a
       liability resulting from breach of contract, breach of warranty, tort,
       infringement, claim or lawsuit) and which, individually or in the
       aggregate, do not exceed $250,000;

              (iii)   obligations and liabilities arising under the agreements
       listed on SCHEDULE 2(K) hereto; and

              (iv)    liabilities set forth on SCHEDULE 2(h) hereto.

       (i)    ABSENCE OF CHANGES.  Other than such changes set forth on SCHEDULE
2(i) hereto, since the Balance Sheet Date, each of the Company and the
Subsidiary has conducted its business in the ordinary course, consistent with
past practice and there has not been any:

              (i)     material adverse change in the condition (financial or
       otherwise), operations, properties, prospects, results of operations,
       business, assets, or liabilities of

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       the Company, the Subsidiary, or the industry in which the
       Company and the Subsidiary conduct or propose to conduct their
       business (a "MATERIAL ADVERSE CHANGE"), or any events or conditions
       that could reasonably be expected, individually or in the aggregate,
       to result in a Material Adverse Change;

              (ii)    waiver or cancellation of any material right of the
       Company or the Subsidiary, or the cancellation of any material debt or
       claim held by the Company or the Subsidiary;

              (iii)   payment, discharge or satisfaction of any claim,
       liability or obligation of the Company or the Subsidiary other than in
       the ordinary course of business;

              (iv)    mortgages, judgements, claims, liens, security interests,
       pledges, escrows, charges or other encumbrances of any kind or character
       whatsoever (collectively "ENCUMBRANCES") upon any assets of the Company
       or the Subsidiary, other than Encumbrances arising in the ordinary course
       of business that do not materially impair the ownership or use of such
       assets or the ability to obtain financing by using such assets as
       collateral (PROVIDED that all of the assets of the Company and the
       Subsidiary are subject to Encumbrances under the Company's Credit
       Agreement, dated December 29, 1999, among the Company, the Subsidiary,
       the banks named therein, and Paribas, as agent (the "CREDIT AGREEMENT"));

              (v)     declaration or payment of dividends on, or other
       distribution with respect to, or any direct or indirect redemption or
       acquisition of, any securities of the Company or the Subsidiary, other
       than the conversion of Non-Voting Common Stock to Voting Common Stock as
       a result of the transactions contemplated hereby pursuant to the Founders
       Stock Agreement, dated as of November 1, 1999 (the "FOUNDERS STOCK
       AGREEMENT"), among the Company, James Parsons, Donald A. Harris, Paul F.
       Judge, The Walter Group, Inc., and U.S. Bancorp (collectively, the
       "FOUNDERS"), as amended;

              (vi)    issuance of any shares, bonds or other securities of the
       Company or the Subsidiary;

              (vii)   sale, assignment or transfer of any tangible or
       intangible assets of the Company or the Subsidiary, other than in the
       ordinary course of business;

              (viii)  loan by the Company or the Subsidiary to any officer,
       director, employee, consultant or shareholder of the Company or the
       Subsidiary, other than advances to such persons in the ordinary course of
       business in connection with travel and travel related expenses;

              (ix)    damage, destruction or loss (whether or not covered by
       insurance) affecting the assets, property, financial condition or results
       of operations of the Company or the Subsidiary;

              (x)     increase, direct or indirect, in the compensation
       (including bonuses and other benefits) paid or payable to any officer or
       director of the Company or the Subsidiary or, other than in the ordinary
       course of business, to any other employee, consultant or agent of the
       Company or the Subsidiary;

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              (xi)    change in the accounting or tax methods, practices or
       policies, or any tax election, of the Company or the Subsidiary;

              (xii)   indebtedness incurred for borrowed money by the Company
       or the Subsidiary, other than in the ordinary course of business
       including pursuant to the Credit Agreement;

              (xiii)  amendment to or termination of any material contract or
       agreement to which the Company or the Subsidiary is a party, including,
       without limitation, any operating agreement to which the Company is a
       party;

              (xiv)   material change or pending or proposed material change to
       the regulation of the Company or the Subsidiary or their activities by
       any administrative agency or governmental body;

              (xv)    material change in the manner of business or operations
       of the Company or the Subsidiary (including, without limitation, any
       accelerations or deferral of the payment of accounts payable or other
       current liabilities or deferral of the collection of accounts or notes
       receivable);

              (xvi)   capital expenditures with respect to tangible assets or
       commitments therefor by the Company or the Subsidiary, other than capital
       expenditure amounts disclosed in the Company's business plan previously
       provided to the Investor (the "BUSINESS PLAN");

              (xvii)  amendment of the certificate of incorporation, by-laws or
       other organizational documents of the Company or the Subsidiary, other
       than as contemplated by this Agreement;

              (xviii) transaction entered into by the Company or the Subsidiary
       other than in the ordinary course of business, or any other transaction
       entered into by the Company or the Subsidiary material to the Company and
       the Subsidiary, taken as a whole, whether or not in the ordinary course
       of business;

              (xix)   amendment to or termination of the Company's affiliation
       management agreement with Sprint PCS (the "SPRINT AGREEMENT"); or

              (xx)    agreement or commitment (contingent or otherwise) by the
       Company or the Subsidiary to do any of the foregoing other than the Bank
       Financing commitment and the High Yield Bridge Financing commitment.

       (j)    NO CONFLICT.  The execution, delivery and performance by the
Company of this Agreement, the Certificates of Designations and the
Shareholders' Agreements, the consummation of the transactions contemplated
hereby and thereby, and the compliance by the Company with the provisions hereof
and thereof, will not:

              (i)     violate any provision of law, statute, rule or
       regulation, or any ruling, writ, injunction, order, judgement or decree
       of any court, administrative agency or other governmental body,
       applicable to the Company or the Subsidiary, or any of their respective
       properties or assets;

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              (ii)    conflict with or result in any breach of any of the
       terms, conditions or provisions of, or constitute (with due notice or
       lapse of time, or both) a default, or give rise to any right of
       termination, cancellation or acceleration, under, any contract,
       agreement, license or permit to which the Company or the Subsidiary is a
       party, or result in the creation of any Encumbrance upon any of their
       respective properties or assets; or

              (iii)   violate the certificate of incorporation, by-laws or
       other organization document of the Company or the Subsidiary.

       (k)    AGREEMENTS.  Except as set forth on SCHEDULE 2(k) hereto, neither
the Company nor the Subsidiary is a party to any indenture, mortgage, guaranty,
lease, license, or other contract, agreement or understanding, written or oral
(each, a "CONTRACT"), other than any Contract that:

              (i)     pursuant to its terms, has expired or has been terminated
       or fully performed by the parties and, in each case, under which neither
       the Company nor the Subsidiary has any liability, contingent or
       otherwise; or

              (ii)    involves payments to or from the Company or the
       Subsidiary that aggregate less than $50,000 and is not material to the
       condition (financial or otherwise), operations, properties, prospects,
       results of operations, business, assets, or liabilities of the Company
       and the Subsidiary taken as a whole.

Each such Contract is a legal, valid and binding obligation, enforceable and in
full force and effect against the Company, and, to the best of the Company's
knowledge, all other parties thereto.  There is no breach, violation or default
by the Company or the Subsidiary, and no event (including, without limitation,
the consummation of the transactions contemplated hereby or any pending or
threatened termination, cancellation or material modification) that, with notice
or lapse of time or both, would (i) constitute a breach, violation or default by
the Company or the Subsidiary under any such Contract or (ii) give rise to any
Encumbrance on any property or asset of, or right of, or result in any
termination, modification, cancellation, prepayment, suspension, limitation,
revocation or acceleration against, the Company or the Subsidiary under any such
Contract.  To the best knowledge of the Company, no other party to any of such
Contracts is in arrears in respect of the performance or satisfaction of the
terms and conditions on its part to be performed or satisfied under any of such
Contracts, no waiver or indulgence has been granted by any of the parties
thereto, and no party to any of such Contracts has repudiated any provision
thereof.

       (l)    INTELLECTUAL PROPERTY RIGHTS.  Each of the Company and the
Subsidiary owns or has the right to use pursuant to license, sublicense,
agreement or permission all Intellectual Property (as defined below) that is
material, individually or in the aggregate, to the operation of its business as
currently conducted.  Each item of Intellectual Property owned or used by the
Company or the Subsidiary immediately prior to the Initial Closing will be owned
or available for use by the Company or the Subsidiary on identical terms and
conditions immediately subsequent to the Initial Closing or the Additional
Closing, as the case may be.  Each of the Company and the Subsidiary has taken
all necessary action to maintain and protect its interest in each item of
Intellectual Property that is material to the conduct of its business.

              (ii)    To the best knowledge of the Company, neither the Company
nor the Subsidiary has interfered with, infringed upon, or misappropriated any
Intellectual Property

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rights of third parties, and neither the Company nor the Subsidiary has
received any charge, complaint, claim, demand or notice alleging any such
interference, infringement, or misappropriation, including any claim that it
must license or refrain from using any Intellectual Property rights of any
third party.  To the best knowledge of the Company, no third party has
interfered with, infringed upon, or misappropriated any Intellectual Property
rights of the Company or the Subsidiary.

              (iii)   Neither the Company nor the Subsidiary owns any patent or
has any pending patent application.

              (iv)    SCHEDULE 2(l) identifies each item of Intellectual
Property that is material to the conduct of the business of the Company and the
Subsidiary as presently conducted.  Neither the Company nor the Subsidiary has
granted any sublicense or similar right with respect to any such Intellectual
Property, and, to best the knowledge of the Company, (A) each such item of
Intellectual Property is not subject to any outstanding injunction, judgement,
order, decree, ruling or change, and (B) no action, suit, proceeding, hearing,
investigation, charge, complaint, claim or demand is pending or threatened that
challenges the legality, validity, or enforceability of any such item of
Intellectual Property.

              (v)     For purposes of this Agreement, "INTELLECTUAL PROPERTY"
means all worldwide:

                      (A)   inventions and discoveries (whether patentable or
       unpatentable and whether or not reduced to practice), all improvements
       thereto, and all patents, patent applications and patent disclosures,
       together with all reissuances, continuations, continuations-in-part,
       revisions, extensions and reexaminations thereof;

                      (B)   trademarks, service marks, trade dress, logos, trade
       names and corporate names, together with all translations, adaptations,
       derivations and combinations thereof and including all goodwill
       associated therewith, and all applications, registrations and renewals in
       connection therewith;

                      (C)   copyrightable works, copyrights and applications,
       registrations and renewals in connection therewith;

                      (D)   mask works and applications, registrations and
       renewals in connection therewith;

                      (E)   know-how, trade secrets and confidential business
       information, whether patentable or unpatentable and whether or not
       reduced to practice (including ideas, research and development, know-how,
       formulae, compositions, manufacturing and production process and
       techniques, technical data, designs, drawings, specifications, customer
       and supplier lists, pricing and cost information and business and
       marketing plans and proposals);

                      (F)   computer software (including data and related
       documentation);

                      (G)   other proprietary rights;

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                      (H)   copies and tangible embodiments thereof (in whatever
       form or medium); and

                      (I)   licenses and agreements in connection therewith.

       (m)    SUITABILITY.  To the best knowledge of the Company, none of the
events described in Item 401(f) of Regulation S-K promulgated under the United
States Securities Act of 1933, as amended (including the rules and regulations
promulgated thereunder, the "SECURITIES ACT"), has occurred during the last five
years with respect to any director or officer of the Company or the Subsidiary.

       (n)    ASSETS.

              (i)     Each of the Company and the Subsidiary has good and
       marketable title to, or a valid leasehold interest in or contractual
       right to use, all of its assets and properties, free and clear of any
       Encumbrances, other than (A) Encumbrances set forth in SCHEDULE 2(n)
       hereto, and (B) Encumbrances for taxes not yet due and payable.

              (ii)    All buildings, facilities, machinery, equipment,
       furniture, leasehold and other improvements, fixtures, vehicles,
       structures, related capitalized items and other tangible property owned
       by, or leased to, the Company or the Subsidiary are:

                      (A)   in good operating condition and repair (normal wear
       and tear excepted), free of any material structural or engineering
       defects;

                      (B)   subject to continued repair and replacement in
       accordance with past practice and all material applicable regulations;
       and

                      (C)   suitable for their current and proposed use in all
       material respects.

              (iii)  Neither the Company nor the Subsidiary has received written
notice of, or has knowledge of, any pending, threatened or contemplated
condemnation proceeding or similar taking affecting the assets of the Company or
the Subsidiary.

       (o)    EMPLOYEE MATTERS.

              (i)     The Company has no Benefit Plans (as defined below).

              (ii)    With respect to each Employee Agreement (as defined
       below):

                      (A)   each of the Company and the Subsidiary has complied
       with all of its obligations thereunder, and each such Employee Agreement
       is presently, and has at all times in the past been, in compliance with
       all statutes, orders, rules and regulations applicable to it;

                      (B)   to the best knowledge of the Company, each such
       Employee Agreement that is a confidentiality or other similar agreement
       is fully enforceable in accordance with its terms, and no person is
       presently, or has at any time in the past been, in violation of any of
       the terms of any such Employee Agreement;

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                      (C)   there are no actions, proceedings, arbitrations,
       suits, claims or other similar proceedings pending or threatened against
       the Company or the Subsidiary with respect to any Employee Agreement,
       except for a threatened claim by the Company's former Vice
       President--Finance, Eli Bakofsky.

              (iii)  Neither the Company, nor the Subsidiary, nor any ERISA
Affiliate (as defined below) currently sponsors, maintains, contributes to, or
is required to contribute to, and neither the Company nor the Subsidiary has any
liability, contingent or otherwise, with respect to any "defined benefit plan"
(as defined in Section 3(35) of the Employee Retirement Income Security Act of
1974 ("ERISA")), "multiemployer plan" (as defined in Section 3(37) of ERISA), or
Retired Welfare Plan (as defined below).

              (iv)  To the best knowledge of the Company, no Employee has been
hired in violation of any restrictive covenant or non-compete agreement with any
other person.

              (v)  The execution of, and performance of the transactions
contemplated by, this Agreement, the Certificates of Designations and the
Shareholders' Agreements will not (either alone or upon the occurrence of any
additional or subsequent events):

                      (A)   constitute an event under any Employee Agreement
       that will or may result in any payment (whether of severance pay or
       otherwise), acceleration, forgiveness of indebtedness, vesting,
       distribution, increase in benefits or obligations to fund benefits with
       respect to any Employee (as defined below); or

                      (B)   result in any payment made or to be made by the
       Company or the Subsidiary constituting an "excess parachute payment"
       within the meaning of Section 280G of the Internal Revenue Code of 1986
       (the "CODE").

              (vi)  For purposes of this Agreement:

                      (A)   "BENEFIT PLAN" means each plan, program, policy,
       payroll practice, contract, agreement or other arrangement, or commitment
       therefor, providing for compensation, severance, termination pay,
       pension, retirement or any other post-termination benefit, performance
       awards, share or share-related awards, fringe benefits or other employee
       benefits of any kind, whether formal or informal, funded or unfunded,
       written or oral, which is now or previously has been sponsored,
       maintained, contributed to or required to be contributed to by the
       Company or the Subsidiary or pursuant to which the Company or the
       Subsidiary has any liability, contingent or otherwise;

                      (B)   "EMPLOYEE AGREEMENT" means each management,
       employment, bonus, option, equity (or equity related), severance,
       consulting, noncompete, confidentiality or similar agreement or contract
       between the Company or the Subsidiary and any current, former or retired
       employee, officer, consultant, independent contractor, agent or director
       of the Company or the Subsidiary (an "EMPLOYEE");

                      (C)   "ERISA AFFILIATE" means any entity that is (1) a
       member of a "controlled group of corporations," under "common control" or
       a member of an "affiliated service group," within the meaning of Section
       414(b), (c) or (m) of the Code, (2) required to be aggregated under
       Section 414(o) of the Code, or (3) under "common

                                       11
<PAGE>

       control," within the meaning of Section 4001(a)(14) of ERISA, or any
       regulations promulgated or proposed under any of the foregoing, in
       each case with the Company or the Subsidiary; and

                      (D)   "RETIRED WELFARE PLAN" means any Benefit Plan that
       provides, or has any liability to provide, life insurance or medical,
       severance or other employee welfare benefits to any Employee beyond his
       or her retirement or termination of employment, except as required by
       Section 4980B of the Code.

       (p)    LABOR RELATIONS; EMPLOYEES.  Neither the Company nor the
Subsidiary is bound by a change of control provision or change of control
agreement in respect of any of its Employees.  Neither the Company nor the
Subsidiary is delinquent in payments to any of its Employees for any wages,
salaries, commissions, bonuses or other compensation for any services performed
or amounts required to be reimbursed.  Each of the Company and the Subsidiary is
in compliance with all applicable laws, rules and regulations respecting
employment, employment practices, occupational health and safety, workers'
compensation, pay equity, labor, terms and conditions of employment and wages
and hours.  Neither the Company nor the Subsidiary is bound by or subject to
(and none of its assets or properties is bound by or subject to) any written or
oral, express or implied, commitment or arrangement with any labor union, and no
labor union has requested or, to the best knowledge of the Company, has sought
to represent any of the employees, representatives or agents of the Company or
the Subsidiary, or has bargaining rights in respect of any of the employees,
representatives or agents of the Company or the Subsidiary.  There is no labor
strike, dispute, slowdown or stoppage pending or threatened against or involving
the Company or the Subsidiary.  To the best knowledge of the Company, other than
the Company's former Vice President--Finance, Eli Bakofsky, who has resigned, no
salaried employee has any plans to terminate his or her employment with the
Company or the Subsidiary.

       (q)    LITIGATION; ORDERS.  Other than as set forth on SCHEDULE 2(q)
hereto, there is no civil, criminal or administrative action, suit, claim,
notice, hearing, inquiry, proceeding or investigation at law or in equity by or
before any court, arbitrator or similar panel, governmental instrumentality or
other agency (including, without limitation, proceedings, inquiries or
investigations of the Federal Communication Commission (the "FCC")) pending or
threatened against the Company or the Subsidiary or the assets or business of
the Company or the Subsidiary.  Neither the Company nor the Subsidiary is
subject to any order, writ, injunction or decree of any court or other
governmental department, commission, board, bureau, agency or instrumentality.

       (r)    COMPLIANCE WITH LAWS; LICENSES.  (i) Each of the Company and the
Subsidiary has complied in all material respects with all federal, state, local
and foreign laws, rules, ordinances, codes, consents, authorizations,
registrations, regulations, decrees, directives, judgements and orders
applicable to it and its business,  Neither the Company nor any subsidiary is in
material violation of any judgement, decree, writ, law, statute, rule, or
regulation rendered or enacted respecting telecommunications applicable to it,
or any published interpretation or policy relating thereto.

              (ii)    Each of the Company and the Subsidiary either has or
intends to procure in a timely manner such permits, licenses, consents,
exemptions, franchises, authorizations and other approvals (each, an
"AUTHORIZATION") of, and has made all filings with and notices to, all necessary
federal, state, local and foreign governmental or regulatory authorities
(including,

                                       12
<PAGE>

without limitation, as appropriate, the state public utilities commissions of
Nevada, California, Idaho, Washington, Montana, Utah, Indiana, Kentucky,
Wyoming, and Illinois) and self-regulatory organizations and all courts and
other tribunals, including without limitation, under any applicable
environmental laws, as are necessary to own, lease, license and operate its
respective properties and to conduct its business, including the planned
buildout of the PCS telecommunications network, as described in the Sprint
Agreement.  Each such authorization is or will be valid and in full force and
effect, and each of the Company and the Subsidiary is in compliance with all
of the terms and conditions thereof and with the rules and regulations of the
authorities and governing bodies having jurisdiction with respect thereto.
There is no reason to believe that any governmental body or agency is
considering limiting, suspending or revoking any such authorization; and no
event has occurred (including, without limitation, the receipt of any notice
from any authority or governing body) which allows or, after notice or lapse
of time or both, would allow, revocation, suspension or termination of any
such authorization or results or, after notice or lapse of time or both,
would result in any other impairment of the rights of the holder of any such
authorization; and such authorizations contain no restrictions that are
burdensome to the Company or the Subsidiary.

              (iii)   There are no judgements, decrees or orders issued by the
FCC that could have a material adverse effect upon, or cause material disruption
to, the Company's or the Subsidiary's operations.  There is no complaint,
investigation, action or proceeding pending or threatened relating to the
Company's or the Subsidiary's operations, including, without limitation, any
notice of violation, notice of apparent liability or order to show cause, other
than proceedings that affect the PCS industry generally, that could have a
material adverse effect upon, or cause material disruption to, the Company's or
the Subsidiary's operations.

              (iv)    Neither the Company nor the Subsidiary is in violation of
any judgement, decree, order, writ, law, statute, rule or regulation rendered or
enacted respecting telecommunications applicable to it, or any published
interpretation or policy relating thereto.

              (v)     No notices, reports or other filings are required to be
made by the Company or the Subsidiary, either prior to or following the
consummation of the transactions contemplated hereby, with, nor are any
consents, registrations, applications or permits required to be obtained by the
Company or the Subsidiary from, any court or governmental agency or other
regulatory body or tribunal or similar entity pursuant to telecommunications
regulatory law in connection with the consummation of the transactions
contemplated hereby.

       (s)    OFFERING EXEMPTION.  Assuming the accuracy of the representations
and warranties contained in Section 3 of this Agreement, each of the offer,
sale, issuance and delivery of the Shares and the Conversion Shares is exempt
from the prospectus and registration requirements of the Securities Act.

       (t)    RELATED TRANSACTIONS.  Other than as set forth on SCHEDULE 2(t)
hereto, neither the Company nor the Subsidiary has been a party to any
transactions, agreements, arrangements or understandings that would be required
to be disclosed under Item 404 of Regulation S-K promulgated under the
Securities Act.

       (u)    TAXES.

                                       13
<PAGE>

              (i)     Each of the Company and the Subsidiary has duly and
       timely filed its Tax Returns (as defined below) with the appropriate
       Governmental Authority (as defined below) and has duly, completely and
       correctly reported all income and all other amounts and information
       required to be reported thereon.  Each of the Company and the Subsidiary
       has duly and timely paid all Taxes (as defined below), including all
       installments on account of Taxes for the year, that are due and payable
       by it, whether or not assessed by the appropriate Governmental
       Authority.  Each of the Company and the Subsidiary has established
       reserves that are reflected on the Balance Sheet that are at least equal
       to the amount of all Taxes that are not yet due and payable.

              (ii)    Neither the Company nor the Subsidiary has requested, or
       entered into any agreement or other arrangement or executed any waiver
       providing for, any extension of time within which:

                      (A)   to file any Tax Return covering any Taxes for which
       the Company or the Subsidiary is or may be liable;

                      (B)   the Company or the Subsidiary is required to pay or
       remit any Taxes or amounts on account of Taxes; or

                      (C)   any Governmental Authority may assess or collect
       Taxes for which the Company or the Subsidiary is or may be liable.

              (iii)   (A)  There are no actions, suits, proceedings,
investigations, audits or claims pending or threatened against the Company or
the Subsidiary in respect of any Taxes, (B) there are no matters under
discussion, audit or appeal with any Governmental Authority relating to Taxes,
(C) there are no rulings, requests for rulings or closing agreements relating to
the Company or the Subsidiary that could affect its liability for Taxes for any
period, (D) neither the Company nor the Subsidiary is a party to or is bound by
any Tax allocation or Tax sharing agreement or arrangement, and neither the
Company nor the Subsidiary has any current contractual obligation to indemnify
any other person with respect to Taxes, (E) no taxing authority in a
jurisdiction where the Company or the Subsidiary does not file Tax Returns has
made any claim, assertion or threat that the Company or the Subsidiary is or may
be subject to taxation by such jurisdiction, (F) neither the Company nor the
Subsidiary has agreed in writing to, nor is it required to include in income,
any adjustment by reason of a change in accounting method or otherwise, nor do
the Company or the Subsidiary have any knowledge that any taxing authority has
proposed, or is considering, any such change in accounting method, and (G)
neither the Company nor the Subsidiary is a personal holding corporation within
the meaning of Section 542 of the Code.

              (iv)    For purposes of this Agreement:

                      (A)   "GOVERNMENTAL AUTHORITY" means any government,
       regulatory authority, governmental department, agency, commission, board,
       tribunal, or court or other law, rule or regulating-making entity having
       or purporting to have jurisdiction on behalf of any nation, state or
       other subdivision thereof or any, municipality, district or other
       subdivision thereof;

                                       14
<PAGE>
                      (B)   "TAXES" includes all taxes, duties, fees,
       assessments, imposts, levies and other charges of any kind whatsoever
       imposed by any Governmental Authority, together with all interest,
       penalties, fines, additions to tax or other additional amounts imposed in
       respect thereof, including those levied on, or measured by, or referred
       to as income, gross receipts, profits, capital, transfer, land transfer,
       sales, goods and services, use value-added, excise, stamp, withholding,
       business, franchising, property, payroll, employment, health, social
       services, education and social security taxes, and all surtaxes, customs
       duties, import and export taxes, and license, franchise and registration
       fees; and

                      (C)   "TAX RETURN" includes all returns, reports,
       declarations, elections, notices, filings, information returns and
       statements filed or required to be filed with any Governmental Authority
       in respect of Taxes.

       (v)    ENVIRONMENTAL PROTECTION.  Each of the Company and the Subsidiary
has conducted and is conducting its business in compliance with all applicable
Environmental Laws (as defined below).  Neither the Company nor the Subsidiary
has caused, arranged or allowed, or contracted with any party for, the
transportation, treatment, storage or disposal of any Hazardous Substance (as
defined below) in connection with the operation of its business or otherwise.
To the best knowledge of the Company, no Hazardous Substance has been Released
(as defined below) into the environment on or from any real property currently
or formerly owned, leased or controlled by the Company or the Subsidiary, which
Release is required or may be required under applicable Environmental Laws to be
abated or remediated by the Company or the Subsidiary.  To the best of the
Company's knowledge, there are no past or present Releases, conditions, events,
circumstances, facts, activities, practices, incidents, actions, or omissions
that could reasonably be expected to form the basis of any claim, action, suit,
proceeding, order, or administrative sanction against or involving the Company
or the Subsidiary based on any violation of any Environmental Law or that is
reasonably likely to require the Company or the Subsidiary to incur any material
expense in connection therewith.  For purposes of this Agreement:

                      (i)   "ENVIRONMENTAL LAWS" means all laws, rules,
              regulations, orders, ordinances, codes and judgements of any
              Governmental Authority relating in full or in part to the
              protection of the environment, and employee and public health and
              safety, and includes those relating to the storage, generation,
              use, handling, manufacture, processing, labeling, transportation,
              treatment and Release of Hazardous Substances in effect and as
              amended as of the date of this Agreement;

                      (ii)  "HAZARDOUS SUBSTANCES" means any pollutant,
              contaminant, waste of any nature, hazardous substance, hazardous
              material or toxic substance as defined, judicially interpreted or
              identified in any Environmental Law, including any asbestos,
              asbestos containing materials, petroleum and/or other hydrocarbons
              or petroleum by-products; and

              (iii)   "RELEASE" shall have the meaning prescribed in any
       Environmental Law and includes any release, spill, leak, pumping,
       pouring, emission, emptying, discharge, injection, escape, leaching,
       disposal, dumping, deposit, spraying, burial, abandonment, incineration,
       seepage, or placement.

                                       15
<PAGE>

       (w)    CONSENTS.  Other than those consents that have been obtained and
are set forth on SCHEDULE 2(w) hereto, no permit, authorization, consent or
approval of or by, or any notification of or filing with, any person
(governmental or private) is required in connection with the:

              (i)     execution, delivery and performance by the Company of
       this Agreement, the Certificates of Designations or the Shareholders'
       Agreements;

              (ii)    the consummation by the Company of the transactions
       contemplated hereby or thereby; or

              (iii)   the issuance, sale or delivery of the Shares, the Voting
       Preferred Shares or the Conversion Shares.

       (x)    INSURANCE.  All material assets of the Company and the
Subsidiary that are of an insurable character are covered by insurance with
reputable insurers against risks of liability, casualty and fire and other
losses and liabilities customarily obtained to cover comparable businesses
and assets in amounts, scope and coverage which are consistent with prudent
industry practice. Neither the Company nor the Subsidiary is in default of
any insurance policy maintained by it.  All such policies are in full force
and effect and all premiums due with respect thereto have been paid.  Neither
the Company nor the Subsidiary has failed to give any notice or present any
material claim under any such insurance policy in due and timely fashion or
as required by any such insurance policy, and has not otherwise, through any
act, omission or non-disclosure, jeopardized or impaired full recovery of any
claim under such policies, and there are no material claims by the Company or
the Subsidiary under any such policy to which any insurer is denying
liability or defending under a reservation of rights or similar clause.
Neither the Company nor the Subsidiary has received notice of any pending or
threatened termination of any insurance policy or premium increase for the
current policy period, and the consummation of the transactions contemplated
by this Agreement will not result in any such termination or premium increase.

       (y)    BROKERS. Neither the Company, nor the Subsidiary, nor any officer,
director, employee or shareholder of the Company or the Subsidiary, has employed
any broker, finder or placement agent in connection with the transactions
contemplated by this Agreement.

       (z)    REAL PROPERTY.  Neither the Company nor the Subsidiary owns any
real property; except as set forth on SCHEDULE 2(z) hereto, neither the Company
nor the Subsidiary leases any real property.  Each of the Company and the
Subsidiary has unencumbered leasehold title to its leased real properties, free
and clear of all imperfections of title and all Encumbrances, other than:

              (i)     those consisting of zoning or planning restrictions,
       easements, permits and other restrictions or limitations on the use of
       such property or irregularities in title thereto that, individually and
       in the aggregate, do not materially impair the use of such property;

              (ii)    warehousemen's, mechanics', carriers', landlords',
       repairmen's or other similar Encumbrances arising in the ordinary course
       of business and securing obligations not yet due and payable;

                                       16
<PAGE>
              (iii)   Encumbrances for the benefit of the lenders under the
       Credit Agreement; and

              (iv)    other Encumbrances that, individually and in the
       aggregate, do not materially impair the use of such property or the
       ability to obtain financing by using such property as collateral.  There
       are no options, rights of first refusal, rights of first offer or other
       similar rights with respect to any such real property.

With respect to each lease of real property to which the Company or the
Subsidiary is a party, so long as the Company or the Subsidiary duly performs
its obligations under such lease within applicable notice and grace periods:

              (v)     the rights of the Company or the Subsidiary under such
       lease may not be terminated; and

              (vi)    possession of such real property and the use and
       enjoyment thereof by the Company or the Subsidiary may not be disturbed
       by any landlord, overlandlord, mortgagee or other superior party.

Neither the Company nor the Subsidiary is obligated to purchase any real
property currently leased by it, and no lease for real property is required to
be accounted for under GAAP as a capitalized lease.  Neither the Company nor the
Subsidiary is a real property holding company as defined in Section 897 of the
Code.

       (aa)   INVESTMENT BANKING SERVICES.  Neither the Company nor the
Subsidiary is a party to any Contract that grants rights to any third party with
respect to the performance of investment banking services for it, including,
without limitation, with respect to its sale or a public offering, including an
initial public offering, of its securities, other than:

              (i)     any such agreement with Donaldson, Lufkin & Jenrette
       Securities Corporation ("DLJ"); and

              (ii)    the agreement dated as of January 12, 2000 with Verocom
       Group, Inc.

       (bb)   PREVIOUS ISSUANCES EXEMPT.  All securities issued by the Company
or the Subsidiary prior to the date hereof have been issued in transactions
exempt from the prospectus and registration requirements of the Securities Act
and all applicable state securities or "blue sky" laws (collectively,
"Securities Laws"), or have been distributed or registered, as the case may be,
in compliance with all Securities Laws.  Neither the Company nor the Subsidiary
has violated any Securities Laws in connection with the issuance of any
securities prior to the date hereof.

       (cc)   PUBLIC UTILITY HOLDING COMPANY ACT; INVESTMENT COMPANY ACT.
Neither the Company nor the Subsidiary is a "holding company," a "subsidiary
company" of a "holding company," or an "affiliate" of a "holding company," as
such terms are defined in the Public Utility Holding Company Act of 1935, as
amended.  Neither the Company nor the Subsidiary is an "investment company," or
an "affiliated person" or a "principal underwriter" of an "investment company,"
as such terms are defined in the Investment Company Act of 1940, as amended.

                                       17
<PAGE>
       (dd)   DISCLOSURE.  The documents and information disclosed and delivered
to the Investor in connection with the transactions contemplated hereby, taken
as a whole, do not contain an untrue statement of a material fact and do not
fail to state any material fact necessary to make the statements therein not
misleading, which untrue statements or omissions could reasonably be expected to
be material to the Investor's evaluation of the transactions contemplated
hereby.

       (ee)   FINANCING COMMITMENTS.  The Company has received commitments with
respect to:

              (i)     a senior credit facility providing the Company with a
       $120 million Term Loan A, a $75 million Term Loan B, and no less than $55
       million of revolving credit borrowings (the "BANK FINANCING"), a copy of
       which is attached as SCHEDULE 2(ee)(i) to this Agreement; and

              (ii)    a high yield bridge financing providing the Company with
       no less than $125 million of gross proceeds (the "HIGH YIELD BRIDGE
       FINANCING"), a copy of which is attached as SCHEDULE 2(ee)(ii) to this
       Agreement.

Each of the Bank Financing commitment and the High Yield Bridge Financing
commitment has been duly authorized, executed and delivered by the parties
thereto, and constitutes the valid and binding obligation of such parties,
enforceable in accordance with its terms.  The Company has no reason to believe
that the conditions to funding contained in the Bank Financing commitment and
the High Yield Bridge Financing commitment will not be satisfied on or prior to
the Additional Closing Date.

       (ff)   SUFFICIENT FINANCING.  SCHEDULE 2(ff)(i) hereto sets forth the use
of proceeds of the sale of the Initial Shares to the Investor, and SCHEDULE
2(ff)(ii) hereto sets forth the sources and uses of funds with respect to the
sale of the Additional Shares to the Investor, and the consummation of the Bank
Financing and the High Yield Bridge Financing.  The proceeds of the sale of the
Shares to the Investor, together with:

              (i)     the proceeds of the Bank Financing;

              (ii)    the proceeds of the High Yield Bridge Financing; and

              (iii)   reasonably anticipated cash flows from operations,

are sufficient, without any additional financing, to finance the Company's
business plan through the end of the fiscal year ending December 31, 2010.

       (gg)   SPRINT AGREEMENT.  The Sprint Agreement has been duly authorized,
executed and delivered by the parties thereto, and constitutes the valid and
binding obligation of such parties, enforceable in accordance with its terms.
In accordance with the terms of the Sprint Agreement, (i) the Company and the
Subsidiary presently have the right to operate in the Reno/Tahoe territory, and
(ii) upon execution and delivery of this Agreement, the Bank Financing
commitment and the High Yield Bridge Financing commitment, and affirmation by
Sprint PCS that the conditions to financing have been met, the Company and the
Subsidiary will have the right to operate in the jurisdictions listed on
SCHEDULE 2(gg) hereto.

                                       18
<PAGE>
       (hh)   ANTI-DILUTION; CHANGE OF CONTROL.  Other than as set forth on
SCHEDULE 2(hh) hereto, neither the execution of this Agreement, the Certificates
of Designations or the Shareholders' Agreements, nor the consummation of the
transactions contemplated hereby and thereby, will:

              (i)     afford any holder of the Series A Preferred Stock, the
       BET Warrant, the Paribas Warrant or any other security of the Company
       that is exercisable or exchangeable for Common Stock with an
       anti-dilution adjustment or other similar right or protection; or

              (ii)    afford any holder of the Series A Preferred Stock, the
       BET Warrant, the Paribas Warrant or any other security of the Company
       with any rights or protections, including, without limitation, rights to
       require the Company to redeem or repurchase any such securities, as a
       result of a "change of control" or other similar provision applicable
       thereto.

       (ii)   FOUNDERS STOCK AGREEMENT.  Pursuant to the terms of the
Founders Stock Agreement, (i) no shares of Non-Voting Common Stock will vest
or convert into shares of Common Stock in connection with the transactions
contemplated hereby, other than (A) the vesting and conversion of 331,027
shares of Non-Voting Common Stock held by the Founders into shares of Common
Stock upon consummation of the Initial Closing, and (B) the vesting and
conversion of 258,567 shares of Non-Voting Common Stock held by the Founders
into shares of Common Stock upon consummation of the Additional Closing; and
(ii) no additional shares of Non-Voting Common Stock will vest or convert
into shares of Common Stock following the Additional Closing.

       SECTION 3.     REPRESENTATIONS AND WARRANTIES OF THE INVESTOR.  The
Investor hereby represents and warrants to the Company as of the date hereof, as
of the Initial Closing Date, and as of the Additional Closing Date (as though
made as of each such date) as follows:

       (a)    INVESTMENT INTENT.  The Investor is acquiring the Shares for
investment only and not with a view to resale or distribution in a manner that
would violate applicable securities laws.

       (b)    ACCREDITED INVESTOR.  The Investor is, and each person in whose
name the Shares will be registered pursuant to Section 1(e) will be, an
"Accredited Investor," as such term is defined in Rule 501(a)(1), (2), (3) (7)
or (8) under the Securities Act.

       (c)    NO REGISTRATION.  The Investor understands that the Shares have
not been and will not be registered under the Securities Act or the securities
laws of any state of the United States, and that the sale contemplated hereby is
being made in reliance on an exemption from such registration requirements.  The
Investor understands and agrees that the Shares may not be reoffered or resold
in the United States or by or on behalf of a U.S. Person (as defined in
Regulation S promulgated under the Securities Act) or a person in the United
States unless the Shares have been registered under the Securities Act and any
applicable state securities laws or an exemption from such registration
requirements is available.  The Investor understands that the certificates
representing the Shares will bear a legend to such effect.

                                       19
<PAGE>
       SECTION 4.     COVENANTS OF THE COMPANY.

       (a)    INITIAL PUBLIC OFFERING.  The Company shall use its best effort to
consummate, not later than April 15, 2000 (unless the Sprint Agreement is
amended to permit a later date, but in any event not later than June 30, 2000),
a registered public offering of equity securities that generates at least $100
million in gross proceeds to the Company.  Without limiting the foregoing, the
Company shall use its best efforts to:

              (i)     prepare and file with the Securities and Exchange
       Commission (the "COMMISSION") a registration statement relating to such
       offering on the appropriate form; and

              (ii)    file such amendments to such registration statement and
       take such other actions as may be necessary to cause such registration
       statement to be declared effective by the Commission.

       (b)    CONDUCT OF BUSINESS.  (i) Except as the Investor may otherwise
consent to in writing, from the date hereof and through the Termination Date (as
defined below), the Company shall not, and shall cause the Subsidiary not to, do
any thing or take any action or omit to do anything or to take any action that:

              (ii)    would cause any representation or warranty of the Company
       in this Agreement to be untrue as of the Additional Closing Date, other
       than any such action or omission in the ordinary course of business and
       expressly contemplated by the Business Plan that would cause Schedules
       2(k) and 2(i) (as such schedule relates to repayment of the debt owed to
       BET and potential qualification in additional states) to be incomplete;
       or

              (iii)   would be a Major Transaction under the Additional
       Shareholders' Agreement if the Additional Shareholders' Agreement were in
       effect.

For purposes of this Agreement, "TERMINATION DATE" means the first to occur of
(i) the Additional Closing Date, and (iii) the date on which this Agreement is
terminated in accordance with Section 7 hereof.

       (c)    PROVISION OF FINANCIAL INFORMATION.  From the date hereof and
through the Termination Date, the Company agrees to furnish to the Investor the
following:

              (i)     within 15 days after the end of each fiscal month,
       internal monthly financial and operating statements for such month
       prepared by the Company under the direction of a senior executive officer
       of the Company, together with a statement certified by the Chief
       Financial Officer, Vice President--Finance or Chief Executive Officer of
       the Company certifying that such financial statements:

                      (A)   are in accordance with the books and records of the
       Company and the Subsidiary; and

                      (B)   fairly present the consolidated financial position
       and results of operations of the Company as of the dates and for the
       periods presented.

                                       20
<PAGE>

              (ii)    within 30 days after the end of each quarterly fiscal
       period, unaudited balance sheets and an income statement as of the end of
       such period, together with statements of retained earnings and cash flow
       for such period ("QUARTERLY FINANCIALS") and a letter or memorandum
       discussing the summary financial information for such period and setting
       forth a comparison by reasonable categories of such financial information
       to the comparable figures for the prior year and a reasonable explanation
       of any differences (a "MANAGEMENT LETTER") (with the Management's
       Discussion and Analysis of Financial Condition and Results of Operation
       section of any Form 10-Q or Form 10-K or similar document filed with the
       Commission for such quarter being sufficient to satisfy this
       requirement), together with a statement certified by the Chief Financial
       Officer, Vice President--Finance or Chief Executive Officer of the
       Company certifying that such financial statements:

                      (A)   are in accordance with the books and records of the
       Company and the Subsidiary;

                      (B)   have been prepared in accordance with GAAP; and

                      (C)   fairly present the consolidated financial position
       and results of operations of the Company as of the dates and for the
       periods presented.

              (iii)   within 90 days (or such lesser period as is either (A)
       required under applicable laws for similar disclosure to any
       securityholders of the Company or (B) in which similar disclosure is
       provided to other financing sources of the Company, including, without
       limitation, any banks) after the end of each fiscal year, (1) audited
       balance sheets and an income statement as of the end of such fiscal year,
       together with statements of retained earnings and cash flow for such
       fiscal year, all in reasonable detail and certified by a recognized
       national firm of independent accountants selected by the Company as
       presenting fairly the financial position and results of operations of the
       Company and as having been prepared in accordance with GAAP, including
       their opinion thereon, (2) the accounting firm's management letter, and
       (3) a Management Letter (with the Management's Discussion and Analysis of
       Financial Condition and Results of Operation section of any Form 10-Q or
       Form 10-K or similar document filed with the Commission for such quarter
       being sufficient to satisfy this requirement); and

              (iv)    promptly upon becoming available, (A) copies of all
       financial statements, reports, press releases, notices, proxy statements
       and other documents sent by the Company to its shareholders or released
       to the public and copies of all regular and periodic reports, if any,
       filed by the Company with any securities regulatory agency or any
       securities exchange, and (2) any other financial or other information
       available to management of the Company as the Investor shall have
       reasonably requested.

              The financial statements and information delivered pursuant to
       this paragraph (c) shall be the consolidated and consolidating financial
       statements of the Company and the Subsidiary.

       (d)    REQUIRED NOTICES.  At all times from the date hereof and through
the Termination Date, the Company shall promptly give written notice to the
Investor of:

                                       21
<PAGE>
              (i)     any facts or circumstances or the occurrence of any event
       or the failure of any event to occur, which has or is reasonably likely
       to have, (A) a material adverse effect on the condition (financial or
       otherwise), operations, properties, prospects, results of operations,
       business, assets, or liabilities of the Company or the Subsidiary or (B)
       a material adverse effect on the ability of the Company to consummate the
       transactions contemplated hereby or to satisfy its obligations hereunder;

              (ii)    any complaints, investigations or hearings (or
       communications indicating that the same may be contemplated) of any
       authority with respect to the Company or the Subsidiary or the
       transactions contemplated hereby;

              (iii)   the institution or the threat of institution of any
       litigation or similar action with respect to the Company or the
       Subsidiary or the consummation of the transactions contemplated hereby;
       and

              (iv)    the occurrence of any event, or the discovery of any
       facts or circumstances which will or is reasonably likely to result in
       the failure (A) of any representation or warranty set forth herein to
       continue to be true or (B) to satisfy any condition set forth in Section
       5 or 6.

The Company shall keep the Investor apprised of material changes with respect to
such events promptly upon the occurrence of such events.

       (e)    NO SHOP.  Other than in connection with the sale of the Company as
an entirety, at all times from the date hereof through the earliest of the
consummation of a Qualifying Public Offering (as defined below), the Additional
Closing Date and December 31, 2001, the Company shall not, and shall not
authorize any of its officers or directors or any other person on its behalf to,
solicit, encourage, negotiate or accept any offer from any party concerning:

              (i)     the issuance or sale any equity securities of the
       Company, other than in a registered, public offering of equity securities
       in the United States; or

              (ii)    any other agreement or arrangement that would be
       inconsistent with the consummation of the transactions contemplated
       hereby,

(in the case of either clause (i) or (ii), a "PROHIBITED TRANSACTION"), nor
shall the Company participate in any discussions or negotiations regarding, or
furnish any information with respect to, or facilitate in any other manner, any
Prohibited Transaction; PROVIDED, HOWEVER, that, beginning July 1, 2000, the
Company may participate in discussions or negotiations regarding, furnish
information with respect to, facilitate and consummate a Prohibited Transaction
if and only if, prior to consummating any Prohibited Transaction, the Company
shall offer the Investor the opportunity to consummate the Additional Purchase
on the terms set forth in this Agreement, which offer shall be in writing and
shall set forth in reasonable detail the terms of the proposed Prohibited
Transaction (the "NO SHOP OFFER").  The Investor shall have 20 days to review
the No Shop Offer, during which time the Company shall provide the Investor with
such information concerning the Company (including, without limitation, the
financial and other information of the type reviewed by the Investor prior to
the date of this Agreement) that the Investor reasonably requests.  Prior to the
expiration of such 20-day period, the Investor may notify the Company in writing
(the "ACCEPTANCE NOTICE") that either:

                                       22
<PAGE>
              (A)     it is accepting the No Shop Offer, in which case the
       Company and the Investor shall, on the date set forth in the Acceptance
       Notice, which date shall be no less than five days and no more than 30
       days from the giving of the Acceptance Notice,  consummate the Additional
       Purchase in accordance with the terms of this Agreement, and the Company
       shall not consummate the Prohibited Transaction (except that the Company
       may consummate the Prohibited Transaction following the Additional
       Closing if done so in accordance with the terms hereof and of the
       Shareholders' Agreement and the Certificates of Designations);

              (B)     it is rejecting the No Shop Offer, but it is electing to
       participate in the Prohibited Transaction, in which case the Investor
       shall have the right to participate in the Prohibited Transaction at the
       level, not to exceed one-third of the total Prohibited Transaction, set
       forth in the Acceptance Notice; PROVIDED, HOWEVER, that the Investor's
       participation in the Prohibited Transaction shall be on identical terms
       to the participation by the other investors in the Prohibited
       Transaction; or

              (C)     it is rejecting the No Shop Offer and is electing not to
       participate in the Prohibited Transaction.

In the event that the Investor fails to deliver an Acceptance Letter prior to
the expiration of such 20-day period, the Investor shall be deemed to have
rejected the No Shop Offer and to have elected not to participate in the
Prohibited Transaction.  On or prior to the date hereof, the Company shall
terminate any existing discussions regarding a possible Prohibited Transaction.
The Company shall promptly notify the Investor in writing of any inquiries or
proposals from any third party regarding a possible Prohibited Transaction.

       (f)    USE OF FUNDS.  The Company shall use the proceeds of the sale of
the Initial Shares in accordance with SCHEDULE 2(ff)(i) hereto, and shall use
the proceeds of the sale of the Additional Shares, the Bank Financing and the
High Yield Bridge Financing (or any high yield financing consummated in lieu
thereof) in accordance with SCHEDULE 2(ff)(ii) hereto.

       SECTION 5.     CONDITIONS TO OBLIGATIONS OF THE INVESTOR.  The
obligations of the Investor to purchase the Initial Shares at the Initial
Closing and to purchase the Additional Shares at the Additional Closing are
subject to the satisfaction, on or prior to the Initial Closing Date or the
Additional Closing Date, as the case may be, of the following conditions:

       (a)    REPRESENTATIONS TRUE.  Each representation and warranty made by
the Company herein shall be true and correct, on and as of the Initial Closing
Date or the Additional Closing Date, as the case may be; PROVIDED, HOWEVER, that
on the Additional Closing Date, Schedules 2(k) and 2(i) (as such schedule
relates to repayment of the debt owed to BET and potential qualification in
additional states) hereto may be amended to include any matters that have arisen
by virtue of actions taken by the Company since the Initial Closing Date,
provided that such actions were not taken in violation of Section 4(b) hereof.

       (b)    COMPLIANCE WITH COVENANTS.  The Company shall have complied with
all agreements and covenants contained herein or in the Shareholders' Agreements
required to be performed by it on or prior to the Initial Closing Date or the
Additional Closing Date, as the case may be.

                                       23
<PAGE>
       (c)    OFFICER'S CERTIFICATE.  The Company shall have delivered to the
Investor a certificate of a senior executive officer of the Company, in form and
substance satisfactory to the Investor, certifying that the conditions set forth
in paragraphs (a), (b), (g), (h) and (j) have been satisfied.

       (d)    SECRETARY'S CERTIFICATE.  The Company shall have delivered to the
Investor a certificate of its Secretary, in form and substance satisfactory to
the Investor, certifying:

              (i)     a true and correct copy of the Certificate of
       Incorporation of the Company, including all amendments thereto, certified
       as of a recent date by the Secretary of State of the State of Delaware;

              (ii)    a true and correct copy of the by-laws of the Company;

              (iii)   a certificate of good standing of the Company issued as
       of a recent date by the Secretary of State of the State of Delaware;

              (iv)    resolutions of the board of directors of the Company
       authorizing the execution and delivery by the Company of this Agreement,
       the Certificates of Designations and the Shareholders' Agreements, and
       the performance of the Company's obligations hereunder and thereunder;

              (v)     true and correct forms of stock certificates for the
       Senior Preferred Stock, the Voting Preferred Stock and the Common Stock;

              (vi)    true and correct copies of all governmental and
       third-party consents, approvals and filings required to be obtained or
       made in order to consummate the transactions contemplated hereby; and

              (vii)   the incumbency of the officers of the Company.

       (e)    CERTIFICATES OF DESIGNATIONS.  Each of the Certificates of
Designations shall have been filed with the Secretary of State of the State of
Delaware, and evidence thereof satisfactory to the Investor shall have been
provided to the Investor.

       (f)    SHAREHOLDERS' AGREEMENTS.  The Initial Shareholders' Agreement or
the Additional Shareholders' Agreement, as the case may be, shall have been duly
executed and delivered by the Company.

       (g)    FINANCING COMMITMENTS.  The Company shall have received:

              (i)     commitments, in form and substance satisfactory to the
       Investor, with respect to the Bank Financing and the High Yield Bridge
       Financing; and

              (ii)    a letter from DLJ, dated as of the Initial Closing Date,
       in form and substance satisfactory to the Investor, addressed to the
       Company and entitling the Investor to rely thereon, indicating that DLJ
       is highly confident of the ability to consummate a Qualifying Public
       Offering on or prior to June 30, 2000.

The Company shall have performed all of its obligations under the Bank Financing
commitment and the High Yield Bridge Financing commitment, including the payment
of all fees thereunder,

                                       24
<PAGE>

required to be performed through the Initial Closing Date or the Additional
Closing Date, as the case may be.

       (h)    SPRINT AGREEMENT.  None of the Initial Closing, the Additional
Closing, the Bank Financing or the High Yield Bridge Financing shall violate or
conflict with the terms of the Sprint Agreement.

       (i)    OPINION OF COUNSEL.  The Investor shall have received from
Greenberg Traurig P.A., counsel to the Company, an opinion addressed to the
Investor, dated as of the Initial Closing Date or the Additional Closing Date,
as the case may be, in form and substance satisfactory to the Investor.

       (j)    REGISTRATION RIGHTS AGREEMENT.  The Amended and Restated
Registration Rights Agreement, dated as of the date hereof, by and among the
Company, the Founders, the holders of Series A Preferred Stock listed on the
signature pages thereto, Paribas, BET and the Investor, shall have been duly
executed and delivered by the Company and the other parties thereto.

       (k)    AMENDMENT TO FOUNDERS STOCK AGREEMENT.  The Second Amendment to
the Founders Stock Agreement, dated as of February 22, 2000, by and among the
Company and the Founders, shall have been duly executed and delivered by the
Company and the Founders.

       (l)    NO PROHIBITION.  No governmental or regulatory body or court of
competent jurisdiction shall have enacted, issued, promulgated or enforced any
statute, rule, regulation, executive order, decree, judgement, preliminary or
permanent injunction or other order which is in effect and which prohibits,
enjoins or otherwise restrains the consummation of the transactions contemplated
hereby.

       (m)    CONSENTS.  Each governmental or third party consent, approval or
filing required to be obtained or made and any waiting period required to have
expired in order to consummate the transactions contemplated by this Agreement
shall have been obtained, or made, as the case may be, and any such waiting
period shall have expired.

       SECTION 6.     ADDITIONAL CONDITIONS TO OBLIGATIONS OF THE INVESTOR.  In
addition to the conditions set forth in Section 5 hereof, the obligation of the
Investor to purchase the Additional Shares at the Additional Closing is subject
to the satisfaction, on or prior to the Additional Closing Date, of the
following additional conditions:

       (a)    INITIAL PURCHASE CONSUMMATED.  The Initial Purchase shall
previously have been consummated in accordance with the terms of this Agreement.

       (b)    NOTICE BY THE COMPANY.  The Company shall have notified the
Investor in writing, no later than 5:00 p.m. New York City time on June 16,
2000, that it is requesting that the Investor purchase the Additional Shares.

       (c)    OTHER FINANCINGS CONSUMMATED.  Prior to or simultaneously with the
Additional Closing:

              (i)     the Company shall have executed, or shall execute
       simultaneously with the Additional Closing, a definitive credit agreement
       with respect to the Bank Financing,

                                       25
<PAGE>

       and the Term Loan B facility thereunder shall have been funded or shall
       be funded simultaneously with the Additional Closing; and

              (ii)    the Company shall have consummated, or shall consummate
       simultaneously with the Additional Closing, the High Yield Bridge
       Financing or other high yield financing providing the Company with no
       less than $125 million of gross proceeds (in either case, the "HIGH YIELD
       FINANCING").

On the Additional Closing Date, the Company shall deliver to the Investor:

              (iii)   a letter, addressed to the Investor and executed on
       behalf of the Company by a senior executive officer of the Company, in
       form and substance satisfactory to the Investor, entitling the Investor
       to rely on the representations and warranties of the Company contained in
       the documentation relating to the Bank Financing and in the documentation
       relating to the High Yield Financing; and

              (iv)    a letter, addressed to the Investor, from Greenberg
       Traurig P.A., counsel to the Company, in form and substance satisfactory
       to the Investor, entitling the Investor to rely on the opinions of such
       counsel provided to the lender(s) of the Bank Financing and to the
       underwriter(s) or initial purchaser(s) of the High Yield Financing.

       (d)    NO QUALIFYING PUBLIC OFFERING.  The Company shall not have entered
into any underwriting, purchase or other similar agreement relating to a
registered public offering of equity securities generating at least $50 million
in gross proceeds to the Company (a "QUALIFYING PUBLIC OFFERING"), unless such
agreement has expired, has been terminated or otherwise is no longer in full
force and effect.  The condition contained in this paragraph (d) shall in no way
relieve the Company from its obligations set forth in Section 4(a) hereof.

       (e)    CONDITION TO SPRINT AGREEMENT SATISFIED.  The condition set forth
in Section 11.3.6 of the Sprint Agreement, as amended by Section 7 of Addendum I
to the Sprint Agreement and Section 2 of Addendum II to the Sprint Agreement,
shall have been satisfied, or shall be satisfied simultaneously with the
Additional Closing.

       SECTION 7.     TERMINATION.  The obligation of the parties hereunder may
be terminated by the mutual written consent of the Company and the Investor.  In
addition, the obligations of the parties hereunder will terminate automatically
without further action on the part of the Company or the Investor and without
liability on the part of the Company or the Investor (provided that neither
party is otherwise in breach or default of its obligations under this Agreement)
if (i) on or prior to the Additional Closing Date, the Company consummates a
Qualifying Public Offering, or (ii) the Additional Closing shall not have
occurred on or before June 30, 2000.  Notwithstanding any termination of this
Agreement, the provisions of this Section 7 and of Section 4(e) and Sections 9
through 23 shall continue to be in full force and effect.

       SECTION 8.    REPURCHASE OF INITIAL SHARES.  In the event that (a) the
Company does not consummate a Qualifying Public Offering on or prior to June
30, 2000 and (b) the Additional Closing has not occurred on or prior to June
30, 2000, then the Company is obligated to repurchase the Initial Shares no
later than June 30, 2001 for an aggregate repurchase price in cash of
$25,000,000, together with interest on such amount commencing on June 30,
2000 through the

                                       26
<PAGE>

repurchase date.  The interest rate applicable to such repurchase shall
initially be 7% and shall increase by 2.5% each 90 days following June 30,
2000 until such repurchase is consummated.

       SECTION 9.     TRANSFER TAXES.  The Company agrees that it will pay, and
will hold the Investor harmless from any and all liability with respect to, any
transfer, documentary or stamp taxes ("TRANSFER TAXES") that may be determined
to be payable in connection with the execution and delivery of this Agreement or
any modification, amendment or alteration of the terms or provisions of this
Agreement, and that it will similarly pay and hold the Investor harmless from
all such Transfer Taxes in respect of the issuance of any of the Shares to the
Investor.

       SECTION 10.    SURVIVAL OF REPRESENTATIONS AND WARRANTIES.  All
representations and warranties contained herein shall survive the Initial
Closing and the Additional Closing and shall in no way be affected by any
investigation of the subject matter thereof made by or on behalf of the
Investor.  All statements contained in any certificate or other instrument
delivered by or on behalf of the Company pursuant to this Agreement shall
constitute additional representations and warranties by the Company under this
Agreement.

       SECTION 11.    EXPENSES.  The Company hereby agrees to pay its own
expenses, and to pay or promptly to reimburse the Investor for all out-of-pocket
expenses incurred by the Investor in connection with the transactions
contemplated by this Agreement, including, without limitation, fees and expenses
of counsel to the Investor.

       SECTION 12.    INDEMNIFICATION.

       (a)    GENERAL INDEMNIFICATION.  The Company hereby agrees to indemnify,
defend and hold the Investor and its affiliates, and each of their respective
officers, directors, partners, managing directors, affiliates, employees,
agents, consultants, representatives, successors and assigns (each, an "INVESTOR
ENTITY") harmless from and against all Losses (as defined below) incurred or
suffered by an Investor Entity (whether incurred or suffered directly or
indirectly through ownership of Shares, Voting Preferred Shares or Conversion
Shares) arising out of, relating to, or resulting from any breach of any of the
representations, warranties, covenants or agreements made by it in this
Agreement or in any agreement, certificate or other instrument delivered
pursuant hereto including, without limitation, the Certificates of Designations
and the Shareholders' Agreements.  For purposes of this Agreement, "LOSSES"
means all claims, losses (including, without limitation, losses of earnings),
liabilities, obligations, payments, damages (actual, punitive or consequential),
charges, judgements, fines, penalties, amounts paid in settlement, costs and
expenses (including, without limitation, interest which may be imposed in
connection therewith), costs and expenses of investigation, actions, suits,
proceedings, demands, assessments and fees, expenses and disbursements of
counsel, consultants and other experts.

       (b)    INDEMNIFICATION PRINCIPLES.  Any indemnification payment by the
Company to the Investor pursuant to this Section 12 shall include an additional
amount so that the Investor does not, directly or indirectly, bear any portion
of such payment made by the Company on account of the Investor's direct or
indirect investment in the Company as contemplated by this Agreement.  Any
payment by the Company to the Investor pursuant to this Section 12 shall be
treated for federal income tax purposes as a purchase price adjustment.

       (c)    CLAIM PROCEDURE.  (i) Any Investor Entity seeking indemnification
under this Section 12 shall, promptly upon becoming aware of the facts
indicating that a claim for indemnification

                                       27
<PAGE>

may be warranted, give a claim notice relating to such Loss (a "CLAIM
NOTICE") to the Company, which Claim Notice shall specify the nature of the
claim with reasonable specificity; PROVIDED, HOWEVER, that a failure or delay
in giving a Claim Notice shall not affect the obligation of the Company to
provide indemnification hereunder unless, and only to the extent that, the
Company is materially prejudiced thereby.

              (ii)    If an Investor Entity determines to seek indemnification
       under this Section 12 with respect to Losses resulting from the assertion
       of liability by a third party, the Company shall be entitled, if it so
       elects by written notice delivered to such Investor Entity within 10 days
       after receiving the applicable Claim Notice, to assume the defense
       thereof with counsel satisfactory to such Investor Entity.
       Notwithstanding the foregoing, such Investor Entity shall have the right
       to employ its own counsel to participate in its defense in any such case,
       but the fees and expenses of such counsel shall be at its own expense
       unless (A) the Company shall not have employed counsel satisfactory to
       the Investor Entity to represent the Investor Entity within a reasonable
       time after delivery of the notice referred to in the preceding sentence
       or (B) such Investor Entity shall reasonably determine that there is a
       conflict of interest between such Investor Entity and the Company with
       respect to such claim, in each of which case the fees and expenses of
       such counsel shall be borne by the Company.  The Company shall not,
       without such Investor Entity's written consent, settle or compromise any
       of such claims, or consent to entry of any judgement in respect thereof,
       unless such settlement, compromise or consent includes as an
       unconditional term thereof the giving by the claimant or the plaintiff to
       such Investor Entity a release from all liability in respect of such
       claims.

              (iii)   In the event that an Investor Entity asserts the
       existence of a claim with respect to Losses other than claims resulting
       from the assertion of liability by third parties, the prevailing party
       shall be entitled to reimbursement of costs and expenses incurred in
       connection with such claim, including, without limitation, attorney fees.

       SECTION 13.    REMEDIES.  In case any one or more of the covenants or
agreements set forth in this Agreement shall have been breached by the Company,
the Investor may proceed to protect and enforce its rights either by suit in
equity and/or by action at law, including, but not limited to, an action for
damages as a result of any such breach and/or an action for specific performance
of any such covenant or agreement contained in this Agreement, and to exercise
all other rights existing in its favor.  The parties hereto agree and
acknowledge that money damages may not be an adequate remedy for any breach of
the provisions of this Agreement and that each party may in its sole discretion
apply to any court of law or equity of competent jurisdiction for specific
performance and/or injunctive relief (without posting a bond or other security)
in order to enforce or prevent any violation of the provisions of this
Agreement.

       SECTION 14.    SUCCESSORS AND ASSIGNS.  This Agreement shall bind and
inure to the benefit of the Company and the Investor and their respective
successors and assigns (to the extent permitted below).  In addition, and
whether or not any express assignment has been made, except as otherwise
expressly stated in this Agreement, the provisions of this Agreement which are
for the benefit of the Investor as a purchaser or holder of Shares are also for
the benefit of, and enforceable by, any permitted subsequent holder of such
Shares.  The parties acknowledge that, subject to compliance with applicable
securities laws, the Investor may transfer and assign all or a part of its
rights and obligations under this Agreement to one or more other parties with
the

                                       28
<PAGE>

consent of the Company, which consent shall not be unreasonably withheld.
This Agreement shall not be assigned by the Company.

       SECTION 15.    ENTIRE AGREEMENT.  This Agreement and the other writings
referred to herein or delivered pursuant hereto which form a part hereof contain
the entire agreement among the parties with respect to the subject matter hereof
and supersede all prior and contemporaneous arrangements or understandings with
respect thereto.

       SECTION 16.    NOTICES.  All notices, requests, consents and other
communications hereunder to any party shall be deemed to be sufficient if
contained in a written instrument delivered in person or sent by fax, nationally
recognized overnight courier or first class registered or certified mail, return
receipt requested, postage prepaid, addressed to such party at the address set
forth below or such other address as may hereafter be designated in writing by
such party to the other parties:

       (a)  if to the Company, to:

              UbiquiTel Holdings, Inc.
              3 Bala Plaza
              Bala Cynwyd, PA 19004
              Attn: Donald A. Harris
              Fax: (610) 660-4920

       with a copy to:

              Greenberg Traurig P.A.
              1750 Tysons Boulevard
              Tysons Corner, Virginia 22102
              Attn: Lee R. Marks
              Fax: (703) 749-1301

       (b) if to the Investor, to:

              DLJ Merchant Banking Partners II, L.P.
              277 Park Avenue
              New York, New York 10172
              Attn.: Andrew Rush and Tim White
              Fax: (212) 892-7272

       with a copy to:

              Latham & Watkins
              885 Third Avenue
              New York, New York 10022
              Attn.: Ian B. Blumenstein
              Fax: (212) 751-4864

All such notices, requests, consents and other communications shall be deemed to
have been given when received.

                                       29
<PAGE>

       SECTION 17.    AMENDMENTS.  The terms and provisions of this Agreement
may be modified or amended, or any of the provisions hereof waived, temporarily
or permanently, pursuant to the written consent of the Company and the Investor.

       SECTION 18.    COUNTERPARTS.  This Agreement may be executed in any
number of counterparts, and each such counterpart hereof shall be deemed to be
an original instrument, but all such counterparts together shall constitute but
one agreement.

       SECTION 19.    HEADINGS.  The headings of the sections of this Agreement
have been inserted for convenience of reference only and shall not be deemed to
be a part of this Agreement.

       SECTION 20.    DEFINITION OF PERSON.  For purposes of this Agreement,
"PERSON" means any individual, corporation, partnership, limited liability
company, association, trust or other entity or organization, including a
government or political subdivision or an agency or instrumentality thereof.

       SECTION 21.    GOVERNING LAW; WAIVER OF JURY TRIAL.  This Agreement
shall be governed by and construed in accordance with the laws of the State of
New York without giving effect to the principles of conflicts of law.  Each of
the parties hereto hereby irrevocably and unconditionally consents to submit to
the exclusive jurisdiction of the courts of the State of New York and of the
United States of America, in each case located in the County of New York, for
any action, proceeding or investigation in any court or before any governmental
authority ("LITIGATION") arising out of or relating to this Agreement and the
transactions contemplated hereby (and agrees not to commence any Litigation
relating thereto except in such courts), and further agrees that service of any
process, summons, notice or document by registered mail to its respective
address set forth in this Agreement shall be effective service of process for
any Litigation brought against it in any such court.  Each of the parties hereto
hereby irrevocably and unconditionally waives any objection to the laying of
venue of any Litigation arising out of this Agreement or the transactions
contemplated hereby in the courts of the State of New York or the United States
of America, in each case located in the County of New York, and hereby further
irrevocably and unconditionally waives and agrees not to plead or claim in any
such court that any such Litigation brought in any such court has been brought
in an inconvenient forum.  EACH OF THE PARTIES IRREVOCABLY AND UNCONDITIONALLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHTS TO
TRIAL BY JURY IN CONNECTION WITH ANY LITIGATION ARISING OUT OF OR RELATING TO
THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

       SECTION 22.    SEVERABILITY.  Whenever possible, each provision of this
Agreement shall be interpreted in such manner as to be effective and valid, but
if any provision of this Agreement is held to be invalid or unenforceable in any
respect, such invalidity or unenforceability, shall not render invalid or
unenforceable any other provision of this Agreement.

       SECTION 23.    NO PARTNERSHIP.  The obligations of each of the parties
to this Agreement are several and not joint.  Nothing in this Agreement shall
imply or be deemed to imply a partnership, joint venture or other relationship
between the parties.

                                       30
<PAGE>

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

       UBIQUITEL HOLDINGS, INC.

       By:    _______________________________
              Name:
              Title:

       DLJ MERCHANT BANKING PARTNERS II, L.P.

       By:    DLJ MERCHANT BANKING II, INC.,
              its Managing General Partner

       By:    _______________________________
              Name:
              Title:

                                       31<PAGE>
                                                                EXHIBIT 10.16

                            UBIQUITEL HOLDINGS, INC.

                            2000 EQUITY INCENTIVE PLAN

<PAGE>

                            UBIQUITEL HOLDINGS, INC.

                           2000 EQUITY INCENTIVE PLAN

<TABLE>
<CAPTION>
<S>      <C>
1.       Purpose..................................................................................................1
2.       Definitions..............................................................................................1
3.       Administration...........................................................................................4
         (a)      Authority of the Committee......................................................................4
         (b)      Manner of Exercise of Committee Authority.......................................................4
         (c)      Limitation of Liability.........................................................................5
4.       Stock Subject to Plan....................................................................................5
         (a)      Limitation on Overall Number of Shares Subject to Awards........................................5
         (b)      Application of Limitations......................................................................5
5.       Eligibility; Per-Person Award Limitations................................................................5
6.       Specific Terms of Awards.................................................................................6
         (a)      General.........................................................................................6
         (b)      Options.........................................................................................6
         (c)      Stock Appreciation Rights.......................................................................7
         (d)      Restricted Stock................................................................................8
         (e)      Deferred Stock..................................................................................9
         (f)      Bonus Stock and Awards in Lieu of Obligations..................................................10
         (g)      Dividend Equivalents...........................................................................10
         (h)      Other Stock-Based Awards.......................................................................10
7.       Certain Provisions Applicable to Awards.................................................................11
         (a)      Stand-Alone, Additional, Tandem, and Substitute Awards.........................................11
         (b)      Term of Awards.................................................................................11
         (c)      Form and Timing of Payment Under Awards; Deferrals.............................................11
         (d)      Exemptions from Section 16(b) Liability........................................................11
8.       Performance and Annual Incentive Awards.................................................................12
         (a)      Performance Conditions.........................................................................12
         (b)      Performance Awards Granted to Designated Covered Employees.....................................12
         (c)      Annual Incentive Awards Granted to Designated Covered Employees................................14
         (d)      Written Determinations.........................................................................15
         (e)      Status of Section 8(b) and Section 8(c) Awards Under Code Section 162(m).......................15
9.       Change in Control.......................................................................................16
         (a)      Effect of "Change in Control.".................................................................16
         (b)      Definition of "Change in Control...............................................................16
         (c)      Definition of "Change in Control Price.".......................................................17
10.      General Provisions......................................................................................17
         (A)      Compliance With Legal and Other Requirements...................................................17
         (b)      Limits on Transferability; Beneficiaries.......................................................18
         (c)      Adjustments....................................................................................18
         (d)      Taxes..........................................................................................19
</TABLE>

                                       (i)
<PAGE>
<TABLE>
<CAPTION>
<S>      <C>
         (e)      Changes to the Plan and Awards.................................................................19
         (f)      Limitation on Rights Conferred Under Plan......................................................20
         (g)      Unfunded Status of Awards; Creation of Trusts..................................................20
         (h)      Nonexclusivity of the Plan.....................................................................20
         (i)      Payments in the Event of Forfeitures; Fractional Shares........................................20
         (j)      Governing Law..................................................................................20
         (k)      Plan Effective Date and Stockholder Approval; Termination of Plan..............................20
</TABLE>

                                       (ii)
<PAGE>

                            UBIQUITEL HOLDINGS, INC.

                           2000 EQUITY INCENTIVE PLAN

         1. PURPOSE. The purpose of this 2000 Equity Incentive Plan (the "Plan")
is to assist UbiquiTel Holdings, Inc. (the "Company") and its subsidiaries in
attracting, motivating, retaining and rewarding high-quality executives and
other employees, officers, Directors and independent contractors by enabling
such persons to acquire or increase a proprietary interest in the Company in
order to strengthen the mutuality of interests between such persons and the
Company's stockholders, and providing such persons with annual and long term
performance incentives to expend their maximum efforts in the creation of
shareholder value. The Plan is also intended to qualify certain compensation
awarded under the Plan for tax deductibility under Section 162(m) of the Code to
the extent deemed appropriate by the Committee of the Board of Directors of the
Company unless otherwise stated, all references to section numbers are to
sections of this Plan.

         2. DEFINITIONS. For purposes of the Plan, the following terms shall be
defined as set forth below, in addition to such terms defined in Section 1.

                  (a) "Annual Incentive Award" means a conditional right granted
to a Participant under Section 8(c) to receive a cash payment, Stock or other
Award, unless otherwise determined by the Committee, after the end of a
specified fiscal year.

                  (b) "Award" means any Option, SAR (including Limited SAR),
Restricted Stock, Deferred Stock, Stock granted as a bonus or in lieu of another
award, Dividend Equivalent, Other Stock-Based Award, Performance Award or Annual
Incentive Award, together with any other right or interest, granted to a
Participant under the Plan.

                  (c) "Beneficiary" means the person, persons, trust or trusts
which have been designated by a Participant in his or her most recent written
beneficiary designation filed with the Committee to receive the benefits
specified under the Plan upon such Participant's death or to which Awards or
other rights are transferred if and to the extent permitted under Section 10(b)
hereof. If, upon a Participant's death, there is no designated Beneficiary or
surviving designated Beneficiary, then the term Beneficiary means the person,
persons, trust or trusts entitled by will or the laws of descent and
distribution to receive such benefits.

                  (d) "Beneficial Owner", "Beneficially Owning" and "Beneficial
Ownership" shall have the meanings ascribed to such terms in Rule 13d-3 under
the Exchange Act and any successor to such Rule.

                  (e) "Board" means the Company's Board of Directors.

                  (f) "Change in Control" means Change in Control as defined
with related terms in Section 9.

<PAGE>
                  (g) "Change in Control Price" means the amount calculated in
accordance with Section 9(c).

                  (h) "Code" means the Internal Revenue Code of 1986, as amended
from time to time, including regulations thereunder and successor provisions and
regulations thereto.

                  (i) "Committee" means a committee designated by the Board to
administer the Plan. The Committee shall consist of at least two directors, each
member of which shall be (i) a "non-employee director" within the meaning of
Rule 16b-3 under the Exchange Act, unless administration of the Plan by
"non-employee directors" is not then required in order for exemptions under Rule
16b-3 to apply to transactions under the Plan, and (ii) an "outside director"
within the meaning of Section 162(m) of the Code, unless administration of the
Plan by "outside directors" is not then required in order to qualify for tax
deductibility under Section 162(m) of the Code.

                  (j) "Corporate Transaction" means a Corporate Transaction as
defined in Section 9(b)(i).

                  (k) "Covered Employee" means an Eligible Person who is a
Covered Employee as specified in Section 8(e).

                  (l) "Deferred Stock" means a right, granted to a Participant
under Section 6(e) hereof, to receive Stock, cash or a combination thereof at
the end of a specified deferral period.

                  (m) "Director" means a member of the Board.

                  (n) "Disability" means a permanent and total disability
(within the meaning of Section 22(e) of the Code), as determined by a medical
doctor satisfactory to the Committee.

                  (o) "Dividend Equivalent" means a right, granted to a
Participant under Section 6(g) hereof, to receive cash, Stock, other Awards or
other property equal in value to dividends paid with respect to a specified
number of shares of Stock, or other periodic payments.

                  (p) "Effective Date" means the effective date of the Plan,
which shall be February 1, 2000.

                  (q) "Eligible Person" means each Executive Officer of the
Company (as defined under the Exchange Act) and other officers, Directors and
employees of the Company or of any Subsidiary, and independent contractors with
the Company or any Subsidiary. The foregoing notwithstanding, only employees of
the Company or any Subsidiary shall be Eligible Persons for purposes of
receiving any Incentive Stock Options. An employee on leave of absence may be
considered as still in the employ of the Company or a Subsidiary for purposes of
eligibility for participation in the Plan.

                  (r) "Exchange Act" means the Securities Exchange Act of 1934,
as amended from time to time, including rules thereunder and successor
provisions and rules thereto.

                                       2
<PAGE>

                  (s) "Executive Officer" means an executive officer of the
Company as defined under the Exchange Act.

                  (t) "Fair Market Value" means the fair market value of Stock
(with no discount for minority ownership or lack of liquidity), Awards or other
property as determined by the Committee or the Board, or under procedures
established by the Committee or the Board. Unless otherwise determined by the
Committee or the Board, the Fair Market Value of Stock as of any given date if
the Company is publicly-held as of such date, shall be the closing sale price
per share reported on a consolidated basis for stock listed on the principal
stock exchange or market on which Stock is traded on the date as of which such
value is being determined or, if there is no sale on that date, then on the last
previous day on which a sale was reported.

                  (u) "Incentive Stock Option" or "ISO" means any Option
intended to be designated as an incentive stock option within the meaning of
Section 422 of the Code or any successor provision thereto.

                  (v) "Incumbent Board" means the Incumbent Board as defined in
Section 9(b)(ii).

                  (w) "Limited SAR" means a right granted to a Participant under
Section 6(c).

                  (x) "Option" means a right granted to a Participant under
Section 6(b), to purchase Stock or other Awards at a specified price during
specified time periods.

                  (y) "Other Stock-Based Awards" means Awards granted to a
Participant under Section 6(h).

                  (z) "Parent Corporation" means any corporation (other than the
Company) in an unbroken chain of corporations ending with the Company, if each
of the corporations in the chain (other than the Company) owns stock possessing
50% or more of the combined voting power of all classes of stock in one of the
other corporations in the chain.

                  (aa) "Participant" means a person who has been granted an
Award under the Plan which remains outstanding, including a person who is no
longer an Eligible Person.

                  (bb) "Performance Award" means a right, granted to an Eligible
Person under Section 8, to receive Awards based upon performance criteria
specified by the Committee or the Board.

                  (cc) "Person" shall have the meaning ascribed to such term in
Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d)
thereof, and shall include a "group" as defined in Section 13(d) thereof.

                  (dd) "Restricted Stock" means Stock granted to a Participant
under Section 6(d), that is subject to certain restrictions and to a risk of
forfeiture.

                                       3

<PAGE>

                  (ee) "Rule 16b-3" and "Rule 16a-1(c)(3)" means Rule 16b-3 and
Rule 16a-1(c)(3), as from time to time in effect and applicable to the Plan and
Participants, promulgated by the Securities and Exchange Commission under
Section 16 of the Exchange Act

                  (ff) "Stock" means the Company's Common Stock, par value
$0.001 per share, and such other securities as may be substituted (or
resubstituted) for Stock pursuant to Section 10(c).

                  (gg) "Stock Appreciation Rights" or "SAR" means a right
granted to a Participant under Section 6(c).

                  (hh) "Subsidiary" means UbiquiTel LLC, and any other
corporation or other entity in which the Company has a direct or indirect
ownership interest of 50% or more of the total combined voting power of the then
outstanding securities or interests of such corporation or other entity entitled
to vote generally in the election of directors or in which the Company has the
right to receive 50% or more of the distribution of profits or 50% or more of
the assets on liquidation or dissolution.

                  3.       ADMINISTRATION.

                  (a) AUTHORITY OF THE COMMITTEE. The Plan shall be administered
by the Committee; provided, however, that except as otherwise expressly provided
in this Plan or in order to comply with Code Section 162(m) or Rule 16b-3 under
the Exchange Act, the Board may exercise any power or authority granted to the
Committee under this Plan. The Committee or the Board shall have full and final
authority, in each case subject to and consistent with the provisions of the
Plan, to select Eligible Persons to become Participants, grant Awards, determine
the type, number and other terms and conditions of, and all other matters
relating to, Awards, prescribe Award agreements (which need not be identical for
each Participant) and rules and regulations for the administration of the Plan,
construe and interpret the Plan and Award agreements and correct defects, supply
omissions or reconcile inconsistencies therein, and to make all other decisions
and determinations as the Committee or the Board may deem necessary or advisable
for the administration of the Plan. In exercising any discretion granted to the
Committee or the Board under the Plan or pursuant to any Award, the Committee or
the Board shall not be required to follow past practices, act in a manner
consistent with past practices, or treat any Eligible Person in a manner
consistent with the treatment of other Eligible Persons.

                  (b) MANNER OF EXERCISE OF COMMITTEE AUTHORITY. The Committee,
and not the Board, shall exercise sole and exclusive discretion on any matter
relating to a Participant then subject to Section 16 of the Exchange Act with
respect to the Company to the extent necessary in order that transactions by
such Participant shall be exempt under Rule 16b-3 under the Exchange Act. Any
action of the Committee or the Board shall be final, conclusive and binding on
all persons, including the Company, its subsidiaries, Participants,
Beneficiaries, transferees under Section 10(b) hereof or other persons claiming
rights from or through a Participant, and stockholders. The express grant of any
specific power to the Committee or the Board, and the taking of any action by
the Committee or the Board, shall not be construed as limiting any power or
authority of the Committee or the Board. The Committee or the Board may delegate
to

                                      4

<PAGE>
officers or managers of the Company or any subsidiary, or committees
thereof, the authority, subject to such terms as the Committee or the Board
shall determine, (i) to perform administrative functions, (ii) with respect
to Participants not subject to Section 16 of the Exchange Act, to perform
such other functions as the Committee or the Board may determine, and (iii)
with respect to Participants subject to Section 16, to perform such other
functions of the Committee or the Board as the Committee or the Board may
determine to the extent performance of such functions will not result in the
loss of an exemption under Rule 16b-3 otherwise available for transactions by
such persons, in each case to the extent permitted under applicable law and
subject to the requirements set forth in Section 8(d). The Committee or the
Board may appoint agents to assist it in administering the Plan.

                  (c) LIMITATION OF LIABILITY. The Committee and the Board, and
each member thereof, shall be entitled, in good faith, to rely or act upon any
report or other information furnished to him or her by any executive officer,
other officer or employee of the Company or a Subsidiary, the Company's
independent auditors, counsel, consultants or any other agents assisting in the
administration of the Plan. Members of the Committee and the Board, and any
officer or employee of the Company or a subsidiary acting at the direction or on
behalf of the Committee or the Board, shall not be personally liable for any
action or determination taken or made in good faith with respect to the Plan,
and shall, to the extent permitted by law, be fully indemnified and protected by
the Company with respect to any such action or determination.

         4.       STOCK SUBJECT TO PLAN.

                  (a) LIMITATION ON OVERALL NUMBER OF SHARES SUBJECT TO AWARDS.
Subject to adjustment as provided in Section 10(c) hereof, the total number of
shares of Stock reserved and available for delivery in connection with Awards
under the Plan, including the number of shares of Stock which may be issued
pursuant to ISOs, shall be the sum of (i) 2,040,000, plus (ii) the number of
shares with respect to Awards previously granted under the Plan that terminate
without being exercised, expire, are forfeited or canceled, and the number of
shares of Stock that are surrendered in payment of any Awards or any tax
withholding with regard thereto. Any shares of Stock delivered under the Plan
may consist, in whole or in part, of authorized and unissued shares or treasury
shares.

                  (b) APPLICATION OF LIMITATIONS. The limitation contained in
Section 4(a) shall apply not only to Awards that are settleable by the delivery
of shares of Stock but also to Awards relating to shares of Stock but settleable
only in cash (such as cash-only SARs). The Committee or the Board may adopt
reasonable counting procedures to ensure appropriate counting, avoid double
counting (as, for example, in the case of tandem or substitute awards) and make
adjustments if the number of shares of Stock actually delivered differs from the
number of shares previously counted in connection with an Award.

         5. ELIGIBILITY; PER-PERSON AWARD LIMITATIONS. Awards may be granted
under the Plan only to Eligible Persons. Within three years from the Effective
Date, the Committee shall determine, and submit to the Company's shareholders
for approval, the maximum number of shares of Stock that may be granted, and the
maximum amount that may be earned as an Annual

                                       5

<PAGE>
Incentive Award or other cash Award, in each fiscal year during any
part of which the Plan is in effect by an Eligible Person.

         6.       SPECIFIC TERMS OF AWARDS.

                  (a) GENERAL. Awards may be granted on the terms and conditions
set forth in this Section 6. In addition, the Committee or the Board may impose
on any Award or the exercise thereof, at the date of grant or thereafter
(subject to Section 10(e)), such additional terms and conditions, not
inconsistent with the provisions of the Plan, as the Committee or the Board
shall determine, including terms requiring forfeiture of Awards in the event of
termination of employment by the Participant and terms permitting a Participant
to make elections relating to his or her Award. The Committee or the Board shall
retain full power and discretion to accelerate, waive or modify, at any time,
any term or condition of an Award that is not mandatory under the Plan. Except
in cases in which the Committee or the Board is authorized to require other
forms of consideration under the Plan, no consideration other than services may
be required for the grant (but not the exercise) of any Award.

                  (b) OPTIONS. The Committee and the Board each is authorized to
grant Options to Participants on the following terms and conditions:

                           (i) EXERCISE PRICE. The exercise price per share of
                  Stock purchasable under an Option shall be determined by the
                  Committee or the Board, provided that such exercise price
                  shall not, in the case of Incentive Stock Options, be less
                  than 100% of the Fair Market Value of the Stock on the date of
                  grant of the Option and shall not, in any event, be less than
                  the par value of a share of Stock on the date of grant of such
                  Option. If an employee owns or is deemed to own (by reason of
                  the attribution rules applicable under Section 424(d) of the
                  Code) more than 10% of the combined voting power of all
                  classes of stock of the Company or any Parent Corporation and
                  an Incentive Stock Option is granted to such employee, the
                  option price of such Incentive Stock Option (to the extent
                  required by the Code at the time of grant) shall be no less
                  than 110% of the Fair Market Value of the Stock on the date
                  such Incentive Stock Option is granted.

                           (ii) TIME AND METHOD OF EXERCISE. The Committee or
                  the Board shall determine the time or times at which or the
                  circumstances under which an Option may be exercised in whole
                  or in part (including based on achievement of performance
                  goals and/or future service requirements), the time or times
                  at which Options shall cease to be or become exercisable
                  following termination of employment or upon other conditions,
                  the methods by which such exercise price may be paid or deemed
                  to be paid (including in the discretion of the Committee or
                  the Board a cashless exercise procedure), the form of such
                  payment, including, without limitation, cash, Stock, other
                  Awards or awards granted under other plans of the Company or
                  any subsidiary, or other property (including notes or other
                  contractual obligations of Participants to make payment on a
                  deferred basis), and

                                       6

<PAGE>
the methods by or forms in which Stock will be delivered or deemed to
be delivered to Participants.

                           (III) ISOS. The terms of any ISO granted under the
                  Plan shall comply in all respects with the provisions of
                  Section 422 of the Code. No term of the Plan relating to ISOs
                  (including any SAR in tandem therewith) shall be interpreted,
                  amended or altered, nor shall any discretion or authority
                  granted under the Plan be exercised, so as to disqualify
                  either the Plan or any ISO under Section 422 of the Code,
                  unless the Participant has first requested the change that
                  will result in such disqualification. Thus, if and to the
                  extent required to comply with Section 422 of the Code,
                  Options granted as Incentive Stock Options shall be subject to
                  the following special terms and conditions:

                                    (A) the Option shall not be exercisable more
                  than ten years after the date such Incentive Stock Option is
                  granted; provided, however, that if a Participant owns or is
                  deemed to own (by reason of the attribution rules of Section
                  424(d) of the Code) more than 10% of the combined voting power
                  of all classes of stock of the Company or any Parent
                  Corporation and the Incentive Stock Option is granted to such
                  Participant, the term of the Incentive Stock Option shall be
                  (to the extent required by the Code at the time of the grant)
                  for no more than five years from the date of grant; and

                                    (B) The aggregate Fair Market Value
                  (determined as of the date the Incentive Stock Option is
                  granted) of the Stock with respect to which Incentive Stock
                  Options granted under the Plan and all other option plans of
                  the Company or its Parent Corporation during any calendar year
                  exercisable for the first time by the Participant during any
                  calendar year shall not (to the extent required by the Code at
                  the time of the grant) exceed $100,000.

                  (c) STOCK APPRECIATION RIGHTS. The Committee and the Board
each is authorized to grant SAR's to Participants on the following terms and
conditions:

                           (i) RIGHT TO PAYMENT. A SAR shall confer on the
                  Participant to whom it is granted a right to receive, upon
                  exercise thereof, the excess of (A) the Fair Market Value of
                  one share of Stock on the date of exercise (or, in the case of
                  a "Limited SAR" that may be exercised only in the event of a
                  Change in Control, the Fair Market Value determined by
                  reference to the Change in Control Price, as defined under
                  Section 9(c)), over (B) the grant price of the SAR as
                  determined by the Committee or the Board. The grant price of
                  an SAR shall not be less than the Fair Market Value of a share
                  of Stock on the date of grant except as provided under Section
                  7(a).

                           (ii) OTHER TERMS. The Committee or the Board shall
                  determine at the date of grant or thereafter, the time or
                  times at which and the circumstances under which a SAR may be
                  exercised in whole or in part (including based on achievement
                  of performance goals and/or future service requirements), the
                  time or

                                       7

<PAGE>

                  times at which SARs shall cease to be or become
                  exercisable following termination of employment or upon
                  other conditions, the method of exercise, method of
                  settlement, form of consideration payable in settlement,
                  method by or forms in which Stock will be delivered or
                  deemed to be delivered to Participants, whether or not a
                  SAR shall be in tandem or in combination with any other
                  Award, and any other terms and conditions of any SAR.
                  Limited SARs that may only be exercised in connection
                  with a Change in Control or other event as specified by
                  the Committee or the Board, may be granted on such terms,
                  not inconsistent with this Section 6(c), as the Committee
                  or the Board may determine. SARs and Limited SARs may be
                  either freestanding or in tandem with other Awards.

                  (d) RESTRICTED STOCK. The Committee and the Board each is
authorized to grant Restricted Stock to Participants on the following terms and
conditions:

                           (i) GRANT AND RESTRICTIONS. Restricted Stock shall be
                  subject to such restrictions on transferability, risk of
                  forfeiture and other restrictions, if any, as the Committee or
                  the Board may impose, which restrictions may lapse separately
                  or in combination at such times, under such circumstances
                  (including based on achievement of performance goals and/or
                  future service requirements), in such installments or
                  otherwise, as the Committee or the Board may determine at the
                  date of grant or thereafter. Except to the extent restricted
                  under the terms of the Plan and any Award agreement relating
                  to the Restricted Stock, a Participant granted Restricted
                  Stock shall have all of the rights of a stockholder, including
                  the right to vote the Restricted Stock and the right to
                  receive dividends thereon (subject to any mandatory
                  reinvestment or other requirement imposed by the Committee or
                  the Board). During the restricted period applicable to the
                  Restricted Stock, subject to Section 10(b) below, the
                  Restricted Stock may not be sold, transferred, pledged,
                  hypothecated, margined or otherwise encumbered by the
                  Participant.

                           (ii) FORFEITURE. Except as otherwise determined by
                  the Committee or the Board at the time of the Award, upon
                  termination of a Participant's employment during the
                  applicable restriction period, the Participant's Restricted
                  Stock that is at that time subject to restrictions shall be
                  forfeited and reacquired by the Company; provided that the
                  Committee or the Board may provide, by rule or regulation or
                  in any Award agreement, or may determine in any individual
                  case, that restrictions or forfeiture conditions relating to
                  Restricted Stock shall be waived in whole or in part in the
                  event of terminations resulting from specified causes, and the
                  Committee or the Board may in other cases waive in whole or in
                  part the forfeiture of Restricted Stock.

                           (iii) CERTIFICATES FOR STOCK. Restricted Stock
                  granted under the Plan may be evidenced in such manner as the
                  Committee or the Board shall determine. If certificates
                  representing Restricted Stock are registered in the name of
                  the Participant, the Committee or the Board may require that
                  such certificates bear an

                                       8

<PAGE>
                  appropriate legend referring to the restrictions
                  applicable to such Restricted Stock, that the Company
                  retain physical possession of the certificates, and that
                  the Participant deliver a stock power to the Company,
                  endorsed in blank, relating to the Restricted Stock.

                           (iv) DIVIDENDS AND SPLITS. As a condition to the
                  grant of an Award of Restricted Stock, the Committee or the
                  Board may require that any cash dividends paid on a share of
                  Restricted Stock be automatically reinvested in additional
                  shares of Restricted Stock or applied to the purchase of
                  additional Awards under the Plan. Unless otherwise determined
                  by the Committee or the Board, Stock distributed in connection
                  with a Stock split or Stock dividend, and other property
                  distributed as a dividend, shall be subject to restrictions
                  and a risk of forfeiture to the same extent as the Restricted
                  Stock with respect to which such Stock or other property has
                  been distributed.

                  (e) DEFERRED STOCK. The Committee and the Board each is
authorized to grant Deferred Stock to Participants, which are rights to receive
Stock, cash, or a combination thereof at the end of a specified deferral period,
subject to the following terms and conditions:

                           (i) AWARD AND RESTRICTIONS. Satisfaction of an Award
                  of Deferred Stock shall occur upon expiration of the deferral
                  period specified for such Deferred Stock by the Committee or
                  the Board (or, if permitted by the Committee or the Board, as
                  elected by the Participant). In addition, Deferred Stock shall
                  be subject to such restrictions (which may include a risk of
                  forfeiture) as the Committee or the Board may impose, if any,
                  which restrictions may lapse at the expiration of the deferral
                  period or at earlier specified times (including based on
                  achievement of performance goals and/or future service
                  requirements), separately or in combination, in installments
                  or otherwise, as the Committee or the Board may determine.
                  Deferred Stock may be satisfied by delivery of Stock, cash
                  equal to the Fair Market Value of the specified number of
                  shares of Stock covered by the Deferred Stock, or a
                  combination thereof, as determined by the Committee or the
                  Board at the date of grant or thereafter. Prior to
                  satisfaction of an Award of Deferred Stock, an Award of
                  Deferred Stock carries no voting or dividend or other rights
                  associated with share ownership.

                           (ii) FORFEITURE. Except as otherwise determined by
                  the Committee or the Board, upon termination of a
                  Participant's employment during the applicable deferral period
                  thereof to which forfeiture conditions apply (as provided in
                  the Award agreement evidencing the Deferred Stock), the
                  Participant's Deferred Stock that is at that time subject to
                  deferral (other than a deferral at the election of the
                  Participant) shall be forfeited; provided that the Committee
                  or the Board may provide, by rule or regulation or in any
                  Award agreement, or may determine in any individual case, that
                  restrictions or forfeiture conditions relating to Deferred
                  Stock shall be waived in whole or in part in the event of
                  terminations resulting

                                       9

<PAGE>
                  from specified causes, and the Committee or the Board
                  may in other cases waive in whole or in part the forfeiture
                  of Deferred Stock.

                           (iii) DIVIDEND EQUIVALENTS. Unless otherwise
                  determined by the Committee or the Board at date of grant,
                  Dividend Equivalents on the specified number of shares of
                  Stock covered by an Award of Deferred Stock shall be either
                  (A) paid with respect to such Deferred Stock at the dividend
                  payment date in cash or in shares of unrestricted Stock having
                  a Fair Market Value equal to the amount of such dividends, or
                  (B) deferred with respect to such Deferred Stock and the
                  amount or value thereof automatically deemed reinvested in
                  additional Deferred Stock, other Awards or other investment
                  vehicles, as the Committee or the Board shall determine or
                  permit the Participant to elect.

                  (f) BONUS STOCK AND AWARDS IN LIEU OF OBLIGATIONS. The
Committee and the Board each is authorized to grant Stock as a bonus, or to
grant Stock or other Awards in lieu of Company obligations to pay cash or
deliver other property under the Plan or under other plans or compensatory
arrangements, provided that, in the case of Participants subject to Section 16
of the Exchange Act, the amount of such grants remains within the discretion of
the Committee to the extent necessary to ensure that acquisitions of Stock or
other Awards are exempt from liability under Section 16(b) of the Exchange Act.
Stock or Awards granted hereunder shall be subject to such other terms as shall
be determined by the Committee or the Board.

                  (g) DIVIDEND EQUIVALENTS. The Committee and the Board each is
authorized to grant Dividend Equivalents to a Participant entitling the
Participant to receive cash, Stock, other Awards, or other property equal in
value to dividends paid with respect to a specified number of shares of Stock,
or other periodic payments. Dividend Equivalents may be awarded on a
free-standing basis or in connection with another Award. The Committee or the
Board may provide that Dividend Equivalents shall be paid or distributed when
accrued or shall be deemed to have been reinvested in additional Stock, Awards,
or other investment vehicles, and subject to such restrictions on
transferability and risks of forfeiture, as the Committee or the Board may
specify.

                  (h) OTHER STOCK-BASED AWARDS. The Committee and the Board each
is authorized, subject to limitations under applicable law, to grant to
Participants such other Awards that may be denominated or payable in, valued in
whole or in part by reference to, or otherwise based on, or related to, Stock,
as deemed by the Committee or the Board to be consistent with the purposes of
the Plan, including, without limitation, convertible or exchangeable debt
securities, other rights convertible or exchangeable into Stock, purchase rights
for Stock, Awards with value and payment contingent upon performance of the
Company or any other factors designated by the Committee or the Board, and
Awards valued by reference to the book value of Stock or the value of securities
of or the performance of specified subsidiaries or business units. The Committee
or the Board shall determine the terms and conditions of such Awards. Stock
delivered pursuant to an Award in the nature of a purchase right granted under
this Section 6(h) shall be purchased for such consideration, paid for at such
times, by such methods, and in such forms, including, without limitation, cash,
Stock, other Awards or other property, as the

                                       10

<PAGE>
Committee or the Board shall determine. Cash awards, as an element of
or supplement to any other Award under the Plan, may also be granted pursuant
to this Section 6(h).

         7.       CERTAIN PROVISIONS APPLICABLE TO AWARDS.

                  (a) STAND-ALONE, ADDITIONAL, TANDEM, AND SUBSTITUTE AWARDS.
Awards granted under the Plan may, in the discretion of the Committee or the
Board, be granted either alone or in addition to, in tandem with, or in
substitution or exchange for, any other Award or any award granted under another
plan of the Company, any Subsidiary, or any business entity to be acquired by
the Company or a Subsidiary, or any other right of a Participant to receive
payment from the Company or any Subsidiary. Such additional, tandem, and
substitute or exchange Awards may be granted at any time. If an Award is granted
in substitution or exchange for another Award or award, the Committee or the
Board shall require the surrender of such other Award or award in consideration
for the grant of the new Award. In addition, Awards may be granted in lieu of
cash compensation, including in lieu of cash amounts payable under other plans
of the Company or any subsidiary, in which the value of Stock subject to the
Award is equivalent in value to the cash compensation (for example, Deferred
Stock or Restricted Stock), or in which the exercise price, grant price or
purchase price of the Award in the nature of a right that may be exercised is
equal to the Fair Market Value of the underlying Stock minus the value of the
cash compensation surrendered (for example, Options granted with an exercise
price "discounted" by the amount of the cash compensation surrendered).

                  (b) TERM OF AWARDS. The term of each Award shall be for such
period as may be determined by the Committee or the Board; but the term of any
Option or SAR shall not exceed ten years (or such shorter term as may be
required in respect of an ISO under Section 422 of the Code).

                  (c) FORM AND TIMING OF PAYMENT UNDER AWARDS; DEFERRALS.
Subject to the terms of the Plan and any applicable Award agreement, payments to
be made by the Company or a subsidiary upon the exercise of an Option or other
Award or settlement of an Award may be made in such forms as the Committee or
the Board shall determine, including, without limitation, cash, Stock that have
been held for at least 6 months, other Awards or other property, and may be made
in a single payment or transfer, in installments, or on a deferred basis. The
settlement of any Award may be accelerated, and cash paid in lieu of Stock in
connection with such settlement, in the discretion of the Committee or the Board
or upon occurrence of one or more specified events (in addition to a Change in
Control). Installment or deferred payments may be required by the Committee or
the Board (subject to Section 10(e)) or permitted at the election of the
Participant on terms and conditions established by the Committee or the Board.
Payments may include, without limitation, provisions for the payment or
crediting of a reasonable interest rate on installment or deferred payments or
the grant or crediting of Dividend Equivalents or other amounts in respect of
installment or deferred payments denominated in Stock.

                  (d) EXEMPTIONS FROM SECTION 16(B) LIABILITY. It is the intent
of the Company that this Plan comply in all respects with applicable provisions
of Rule 16b-3 or Rule 16a-1(c)(3) to the extent necessary to ensure that neither
the grant of any Awards to nor other transaction by

                                       11

<PAGE>
a Participant who is subject to Section 16 of the Exchange Act is
subject to liability under Section 16(b) thereof (except for transactions
acknowledged in writing to be non-exempt by such Participant). Accordingly,
if any provision of this Plan or any Award agreement does not comply with the
requirements of Rule 16b-3 or Rule 16a-1(c)(3) as then applicable to any such
transaction, such provision will be construed or deemed amended to the extent
necessary to conform to the applicable requirements of Rule 16b-3 or Rule
16a-1(c)(3) so that such Participant shall avoid liability under Section
16(b). In addition, the purchase price of any Award conferring a right to
purchase Stock shall be not less than any specified percentage of the Fair
Market Value of Stock at the date of grant of the Award then required in
order to comply with Rule 16b-3.

         8.       PERFORMANCE AND ANNUAL INCENTIVE AWARDS.

                  (a) PERFORMANCE CONDITIONS. The right of a Participant to
exercise or receive a grant or settlement of any Award, and the timing thereof,
may be subject to such performance conditions as may be specified by the
Committee or the Board. The Committee or the Board may use such business
criteria and other measures of performance as it may deem appropriate in
establishing any performance conditions, and may exercise its discretion to
reduce the amounts payable under any Award subject to performance conditions,
except as limited under Sections 8(b) and 8(c) hereof in the case of a
Performance Award or Annual Incentive Award intended to qualify under Code
Section 162(m). If and to the extent required under Code Section 162(m), any
power or authority relating to a Performance Award or Annual Incentive Award
intended to qualify under Code Section 162(m), shall be exercised by the
Committee and not the Board.

                  (b) PERFORMANCE AWARDS GRANTED TO DESIGNATED COVERED
EMPLOYEES. If and to the extent that the Committee determines that a Performance
Award to be granted to an Eligible Person who is designated by the Committee as
likely to be a Covered Employee should qualify as "performance-based
compensation" for purposes of Code Section 162(m), the grant, exercise and/or
settlement of such Performance Award shall be contingent upon achievement of
preestablished performance goals and other terms set forth in this Section 8(b).

                           (i) PERFORMANCE GOALS GENERALLY. The performance
                  goals for such Performance Awards shall consist of one or more
                  business criteria and a targeted level or levels of
                  performance with respect to each of such criteria, as
                  specified by the Committee consistent with this Section 8(b).
                  Performance goals shall be objective and shall otherwise meet
                  the requirements of Code Section 162(m) and regulations
                  thereunder including the requirement that the level or levels
                  of performance targeted by the Committee result in the
                  achievement of performance goals being "substantially
                  uncertain." The Committee may determine that such Performance
                  Awards shall be granted, exercised and/or settled upon
                  achievement of any one performance goal or that two or more of
                  the performance goals must be achieved as a condition to
                  grant, exercise and/or settlement of such Performance Awards.
                  Performance goals may differ for Performance Awards granted to
                  any one Participant or to different Participants.

                                       12

<PAGE>

                           (ii) BUSINESS CRITERIA. One or more of the following
                  business criteria for the Company, on a consolidated basis,
                  and/or specified Subsidiaries or business units of the Company
                  (except with respect to the total stockholder return and
                  earnings per share criteria), shall be used exclusively by the
                  Committee in establishing performance goals for such
                  Performance Awards (except that the Committee may adopt
                  additional business criteria or amend the listed criteria
                  provided that, within three years from the Effective Date, it
                  submits such additional or amended criteria to the Company's
                  shareholders for approval): (1) total stockholder return; (2)
                  such total stockholder return as compared to total return (on
                  a comparable basis) of a publicly available index such as, but
                  not limited to, the Standard & Poor's 500 Stock; (3) net
                  income; (4) pretax earnings; (5) earnings before interest
                  expense, taxes, depreciation and amortization; (6) pretax
                  operating earnings after interest expense and before bonuses,
                  service fees, and extraordinary or special items; (7)
                  operating margin; (8) earnings per share; (9) return on
                  equity; (10) return on capital; (11) return on investment;
                  (12) operating earnings; (13) working capital or inventory;
                  (14) ratio of debt to stockholders' equity; (15) control of
                  churn; (16) increase in number of subscribers (measured by
                  percentages, ratios, comparisons, or absolute numbers); (17)
                  control of operating costs; and (18) meeting build-out and
                  coverage POPs targets. One or more of the foregoing business
                  criteria shall also be exclusively used in establishing
                  performance goals for Annual Incentive Awards granted to a
                  Covered Employee under Section 8(c) hereof that are intended
                  to qualify as "performanced-based compensation under Code
                  Section 162(m).

                           (iii) PERFORMANCE PERIOD; TIMING FOR ESTABLISHING
                  PERFORMANCE GOALS. Achievement of performance goals in respect
                  of such Performance Awards shall be measured over a
                  performance period of up to ten years, as specified by the
                  Committee. Performance goals shall be established not later
                  than 90 days after the beginning of any performance period
                  applicable to such Performance Awards, or at such other date
                  as may be required or permitted for "performance-based
                  compensation" under Code Section 162(m).

                           (iv) PERFORMANCE AWARD POOL. The Committee may
                  establish a Performance Award pool, which shall be an unfunded
                  pool, for purposes of measuring Company performance in
                  connection with Performance Awards. The amount of such
                  Performance Award pool shall be based upon the achievement of
                  a performance goal or goals based on one or more of the
                  business criteria set forth in Section 8(b)(ii) hereof during
                  the given performance period, as specified by the Committee in
                  accordance with Section 8(b)(iii) hereof. The Committee may
                  specify the amount of the Performance Award pool as a
                  percentage of any of such business criteria, a percentage
                  thereof in excess of a threshold amount, or as another amount
                  which need not bear a strictly mathematical relationship to
                  such business criteria.

                                       13

<PAGE>
                           (v) SETTLEMENT OF PERFORMANCE AWARDS; OTHER TERMS.
                  Settlement of such Performance Awards shall be in cash, Stock,
                  other Awards or other property, in the discretion of the
                  Committee. The Committee may, in its discretion, reduce the
                  amount of a settlement otherwise to be made in connection with
                  such Performance Awards. The Committee shall specify the
                  circumstances in which such Performance Awards shall be paid
                  or forfeited in the event of termination of employment by the
                  Participant prior to the end of a performance period or
                  settlement of Performance Awards.

                  (c) ANNUAL INCENTIVE AWARDS GRANTED TO DESIGNATED COVERED
EMPLOYEES. If and to the extent that the Committee determines that an Annual
Incentive Award to be granted to an Eligible Person who is designated by the
Committee as likely to be a Covered Employee should qualify as
"performance-based compensation" for purposes of Code Section 162(m), the grant,
exercise and/or settlement of such Annual Incentive Award shall be contingent
upon achievement of preestablished performance goals and other terms set forth
in this Section 8(c).

                           (i) ANNUAL INCENTIVE AWARD POOL. The Committee may
                  establish an Annual Incentive Award pool, which shall be an
                  unfunded pool, for purposes of measuring Company performance
                  in connection with Annual Incentive Awards. The amount of such
                  Annual Incentive Award pool shall be based upon the
                  achievement of a performance goal or goals based on one or
                  more of the business criteria set forth in Section 8(b)(ii)
                  during the given performance period, as specified by the
                  Committee in accordance with Section 8(b)(iii). The Committee
                  may specify the amount of the Annual Incentive Award pool as a
                  percentage of any such business criteria, a percentage thereof
                  in excess of a threshold amount, or as another amount which
                  need not bear a strictly mathematical relationship to such
                  business criteria.

                           (ii) POTENTIAL ANNUAL INCENTIVE AWARDS. Not later
                  than the end of the 90th day of each fiscal year, or at such
                  other date as may be required or permitted in the case of
                  Awards intended to be "performance-based compensation" under
                  Code Section 162(m), the Committee shall determine the
                  Eligible Persons who will potentially receive Annual Incentive
                  Awards, and the amounts potentially payable thereunder, for
                  that fiscal year, either out of an Annual Incentive Award pool
                  established by such date under Section 8(c)(i) or as
                  individual Annual Incentive Awards. In the case of individual
                  Annual Incentive Awards intended to qualify under Code Section
                  162(m), the amount potentially payable shall be based upon the
                  achievement of a performance goal or goals based on one or
                  more of the business criteria set forth in Section 8(b)(ii) in
                  the given performance year, as specified by the Committee; in
                  other cases, such amount shall be based on such criteria as
                  shall be established by the Committee. In all cases, the
                  maximum Annual Incentive Award of any Participant shall be
                  subject to the limitation set forth in Section 5.

                                       14

<PAGE>
                           (iii) PAYOUT OF ANNUAL INCENTIVE AWARDS. After the
                  end of each fiscal year, the Committee shall determine the
                  amount, if any, of (A) the Annual Incentive Award pool, and
                  the maximum amount of potential Annual Incentive Award payable
                  to each Participant in the Annual Incentive Award pool, or (B)
                  the amount of potential Annual Incentive Award otherwise
                  payable to each Participant. The Committee may, in its
                  discretion, determine that the amount payable to any
                  Participant as an Annual Incentive Award shall be reduced from
                  the amount of his or her potential Annual Incentive Award,
                  including a determination to make no Award whatsoever. The
                  Committee shall specify the circumstances in which an Annual
                  Incentive Award shall be paid or forfeited in the event of
                  termination of employment by the Participant prior to the end
                  of a fiscal year or settlement of such Annual Incentive Award.

                  (d) WRITTEN DETERMINATIONS. All determinations by the
Committee as to the establishment of performance goals, the amount of any
Performance Award pool or potential individual Performance Awards and as to the
achievement of performance goals relating to Performance Awards under Section
8(b), and the amount of any Annual Incentive Award pool or potential individual
Annual Incentive Awards and the amount of final Annual Incentive Awards under
Section 8(c), shall be made in writing in the case of any Award intended to
qualify under Code Section 162(m). The Committee may not delegate any
responsibility relating to such Performance Awards or Annual Incentive Awards if
and to the extent required to comply with Code Section 162(m).

                  (e) STATUS OF SECTION 8(b) AND SECTION 8(c) AWARDS UNDER CODE
SECTION 162(M). It is the intent of the Company that Performance Awards and
Annual Incentive Awards under Section 8(b) and 8(c) hereof granted to persons
who are designated by the Committee as likely to be Covered Employees within the
meaning of Code Section 162(m) and regulations thereunder shall, if so
designated by the Committee, constitute "qualified performance-based
compensation" within the meaning of Code Section 162(m) and regulations
thereunder. Accordingly, the terms of Sections 8(b), (c), (d) and (e), including
the definitions of Covered Employee and other terms used therein, shall be
interpreted in a manner consistent with Code Section 162(m) and regulations
thereunder. The foregoing notwithstanding, because the Committee cannot
determine with certainty whether a given Participant will be a Covered Employee
with respect to a fiscal year that has not yet been completed, the term Covered
Employee as used herein shall mean only a person designated by the Committee, at
the time of grant of Performance Awards or an Annual Incentive Award, as likely
to be a Covered Employee with respect to that fiscal year. If any provision of
the Plan or any agreement relating to such Performance Awards or Annual
Incentive Awards does not comply or is inconsistent with the requirements of
Code Section 162(m) or regulations thereunder, such provision shall be construed
or deemed amended to the extent necessary to conform to such requirements.

                                       15
<PAGE>
         9.       CHANGE IN CONTROL.

                  (a) EFFECT OF "CHANGE IN CONTROL." If and to the extent
provided in the Award, in the event of a "Change in Control," as defined in
Section 9(b), the following provisions shall apply:

                           (i) Any Award carrying a right to exercise that was
                  not previously exercisable and vested shall become fully
                  exercisable and vested as of the time of the Change in
                  Control, subject only to applicable restrictions set forth in
                  Section 10(a);

                            (ii) Limited SARs (and other SARs if so provided by
                  their terms) shall become exercisable for amounts, in cash,
                  determined by reference to the Change in Control Price;

                           (iii) The restrictions, deferral of settlement, and
                  forfeiture conditions applicable to any other Award granted
                  under the Plan shall lapse and such Awards shall be deemed
                  fully vested as of the time of the Change in Control, except
                  to the extent of any waiver by the Participant and subject to
                  applicable restrictions set forth in Section 10(a) hereof; and

                           (iv) With respect to any such outstanding Award
                  subject to achievement of performance goals and conditions
                  under the Plan, such performance goals and other conditions
                  will be deemed to be met if and to the extent so provided by
                  the Committee in the Award agreement relating to such Award.

                  (b) DEFINITION OF "CHANGE IN CONTROL. A "Change in Control"
shall be deemed to have occurred upon:

                           (i) Approval by the shareholders of the Company of a
reorganization, merger, consolidation or other form of corporate transaction or
series of transactions(but not including a public offering of stock registered
under the Securities Act of 1933, in each case, with respect to which persons
who were the shareholders of the Company immediately prior to such
reorganization, merger or consolidation or other transaction do not, immediately
thereafter, own more than 50% of the combined voting power entitled to vote
generally in the election of directors of the reorganized, merged or
consolidated company's then outstanding voting securities, or a liquidation or
dissolution of the Company or the sale of all or substantially all of the assets
of the Company (unless such reorganization, merger, consolidation or other
corporate transaction, liquidation, dissolution or sale (any such event being
referred to as a "Corporate Transaction") is subsequently abandoned);

                           (ii) Individuals who, as of the date on which the
Award is granted, constitute the Board (the "Incumbent Board") cease for any
reason to constitute at least a majority of the Board, provided that any person
becoming a director subsequent to the date on which the Award was granted whose
election, or nomination for election by the Company's

                                       16
<PAGE>

shareholders, was approved by a vote of at least a majority of the directors
then comprising the Incumbent Board (other than an election or nomination of
an individual whose initial assumption of office is in connection with an
actual or threatened election contest relating to the election of the
Directors of the Company, as such terms are used in Rule 14a-11 of Regulation
14A promulgated under the Securities Exchange Act) shall be, for purposes of
this Agreement, considered as though such person were a member of the
Incumbent Board; or

                           (iii) the acquisition (other than from the Company)
by any person, entity or "group", within the meaning of Section 13(d)(3) or
14(d)(2) of the Securities Exchange Act, of more than 30% of either the then
outstanding shares of the Company's Common Stock or the combined voting power of
the Company's then outstanding voting securities entitled to vote generally in
the election of directors (hereinafter referred to as the ownership of a
"Controlling Interest") excluding, for this purpose, any acquisitions by (1) the
Company or its Subsidiaries, (2) any person, entity or "group" that as of the
date on which the Award is granted owns beneficial ownership (within the meaning
of Rule 13d-3 promulgated under the Securities Exchange Act) of a Controlling
Interest or (3) any employee benefit plan of the Company or its Subsidiaries.]

                  (c) DEFINITION OF "CHANGE IN CONTROL PRICE." The "Change in
Control Price" means an amount in cash equal to the higher of (i) the amount of
cash and fair market value of property that is the highest price per share paid
(including extraordinary dividends) in any Corporate Transaction triggering the
Change in Control under Section 9(b)(i) or any liquidation of shares following a
sale of substantially all of the assets of the Company, or (ii) the highest Fair
Market Value per share at any time during the 60-day period preceding and the
60-day period following the Change in Control.

         10.      GENERAL PROVISIONS.

                  (a) COMPLIANCE WITH LEGAL AND OTHER REQUIREMENTS. The Company
may, to the extent deemed necessary or advisable by the Committee or the Board,
postpone the issuance or delivery of Stock or payment of other benefits under
any Award until completion of such registration or qualification of such Stock
or other required action under any federal or state law, rule or regulation,
listing or other required action with respect to any stock exchange or automated
quotation system upon which the Stock or other Company securities are listed or
quoted, or compliance with any other obligation of the Company, as the Committee
or the Board, may consider appropriate, and may require any Participant to make
such representations, furnish such information and comply with or be subject to
such other conditions as it may consider appropriate in connection with the
issuance or delivery of Stock or payment of other benefits in compliance with
applicable laws, rules, and regulations, listing requirements, or other
obligations. The foregoing notwithstanding, in connection with a Change in
Control, the Company shall take or cause to be taken no action, and shall
undertake or permit to arise no legal or contractual obligation, that results or
would result in any postponement of the issuance or delivery of Stock or payment
of benefits under any Award or the imposition of any other conditions on such
issuance, delivery or payment, to the extent that such postponement or other

                                       17

<PAGE>

condition would represent a greater burden on a Participant than existed on the
90th day preceding the Change in Control.

                  (b) LIMITS ON TRANSFERABILITY; BENEFICIARIES. No Award or
other right or interest of a Participant under the Plan, including any Award or
right which constitutes a derivative security as generally defined in Rule
16a-1(c) under the Exchange Act, shall be pledged, hypothecated or otherwise
encumbered or subject to any lien, obligation or liability of such Participant
to any party (other than the Company or a Subsidiary), or assigned or
transferred by such Participant otherwise than by will or the laws of descent
and distribution or to a Beneficiary upon the death of a Participant, and such
Awards or rights that may be exercisable shall be exercised during the lifetime
of the Participant only by the Participant or his or her guardian or legal
representative, except that Awards and other rights (other than ISOs and SARs in
tandem therewith) may be transferred to one or more Beneficiaries or other
transferees during the lifetime of the Participant, and may be exercised by such
transferees in accordance with the terms of such Award, but only if and to the
extent such transfers and exercises are permitted by the Committee or the Board
pursuant to the express terms of an Award agreement (subject to any terms and
conditions which the Committee or the Board may impose thereon, and further
subject to any prohibitions or restrictions on such transfers pursuant to Rule
16b-3). A Beneficiary, transferee, or other person claiming any rights under the
Plan from or through any Participant shall be subject to all terms and
conditions of the Plan and any Award agreement applicable to such Participant,
except as otherwise determined by the Committee or the Board, and to any
additional terms and conditions deemed necessary or appropriate by the Committee
or the Board.

                  (c) ADJUSTMENTS. If any dividend or other distribution
(whether in the form of cash, Stock, or other property), recapitalization,
forward or reverse split, reorganization, merger, consolidation, spin-off,
combination, repurchase, share exchange, liquidation, dissolution or other
similar corporate transaction or event affects the Stock such that a
substitution or adjustment is determined by the Committee or the Board to be
appropriate in order to prevent dilution or enlargement of the rights of
Participants under the Plan, then the Committee or the Board shall, in such
manner as it may deem equitable, substitute or adjust any or all of (i) the
number and kind of shares of Stock which may be delivered in connection with
Awards granted thereafter, (ii) the number and kind of shares of Stock by which
annual per-person Award limitations are measured under Section 5 hereof, (iii)
the number and kind of shares of Stock subject to or deliverable in respect of
outstanding Awards and (iv) the exercise price, grant price or purchase price
relating to any Award and/or make provision for payment of cash or other
property in respect of any outstanding Award. In addition, the Committee (and
the Board if and only to the extent such authority is not required to be
exercised by the Committee to comply with Code Section 162(m)) is authorized to
make adjustments in the terms and conditions of, and the criteria included in,
Awards (including Performance Awards and performance goals, and Annual Incentive
Awards and any Annual Incentive Award pool or performance goals relating
thereto) in recognition of unusual or nonrecurring events (including, without
limitation, events described in the preceding sentence, as well as acquisitions
and dispositions of businesses and assets) affecting the Company, any Subsidiary
or any business unit, or the financial statements of the Company or any
Subsidiary, or in response to changes in applicable laws, regulations,
accounting principles, tax rates and regulations or business conditions or in
view of the

                                       18
<PAGE>

Committee's assessment of the business strategy of the Company, any
Subsidiary or business unit thereof, performance of comparable organizations,
economic and business conditions, personal performance of a Participant, and
any other circumstances deemed relevant; provided that no such adjustment
shall be authorized or made if and to the extent that such authority or the
making of such adjustment would cause Options, SARs, Performance Awards
granted under Section 8(b) or Annual Incentive Awards granted under Section
8(c) hereof to Participants designated by the Committee as Covered Employees
and intended to qualify as "performance-based compensation" under Code
Section 162(m) and the regulations thereunder to otherwise fail to qualify as
"performance-based compensation" under Code Section 162(m) and regulations
there under.

                  (d) TAXES. The Company and any Subsidiary is authorized to
withhold from any Award granted, any payment relating to an Award under the
Plan, including from a distribution of Stock, or any payroll or other payment to
a Participant, amounts of withholding and other taxes due or potentially payable
in connection with any transaction involving an Award, and to take such other
action as the Committee or the Board may deem advisable to enable the Company
and Participants to satisfy obligations for the payment of withholding taxes and
other tax obligations relating to any Award. This authority shall include
authority to withhold or receive Stock or other property and to make cash
payments in respect thereof in satisfaction of a Participant's tax obligations,
either on a mandatory or elective basis in the discretion of the Committee.

                  (e) CHANGES TO THE PLAN AND AWARDS. The Board may amend,
alter, suspend, discontinue or terminate the Plan, or the Committee's authority
to grant Awards under the Plan, without the consent of stockholders or
Participants, except that any amendment or alteration to the Plan shall be
subject to the approval of the Company's stockholders not later than the annual
meeting next following such Board action if such stockholder approval is
required by any federal or state law or regulation (including, without
limitation, Rule 16b-3 or Code Section 162(m)) or the rules of any stock
exchange or automated quotation system on which the Stock may then be listed or
quoted, and the Board may otherwise, in its discretion, determine to submit
other such changes to the Plan to stockholders for approval; provided that,
without the consent of an affected Participant, no such Board action may
materially and adversely affect the rights of such Participant under any
previously granted and outstanding Award. The Committee or the Board may waive
any conditions or rights under, or amend, alter, suspend, discontinue or
terminate any Award theretofore granted and any Award agreement relating
thereto, except as otherwise provided in the Plan; provided that, without the
consent of an affected Participant, no such Committee or the Board action may
materially and adversely affect the rights of such Participant under such Award.
Notwithstanding anything in the Plan to the contrary, if any right under this
Plan would cause a transaction to be ineligible for pooling of interest
accounting that would, but for the right hereunder, be eligible for such
accounting treatment, the Committee or the Board may modify or adjust the
right so that pooling of interest accounting shall be available, including
the substitution of Stock having a Fair Market Value equal to the cash
otherwise payable hereunder for the right which caused the transaction to be
ineligible for pooling of interest accounting.

                                       19
<PAGE>

                  (f) LIMITATION ON RIGHTS CONFERRED UNDER PLAN. Neither the
Plan nor any action taken hereunder shall be construed as (i) giving any
Eligible Person or Participant the right to continue as an Eligible Person or
Participant or in the employ of the Company or a Subsidiary; (ii) interfering in
any way with the right of the Company or a Subsidiary to terminate any Eligible
Person's or Participant's employment at any time, (iii) giving an Eligible
Person or Participant any claim to be granted any Award under the Plan or to be
treated uniformly with other Participants and employees, or (iv) conferring on a
Participant any of the rights of a stockholder of the Company unless and until
the Participant is duly issued or transferred shares of Stock in accordance with
the terms of an Award.

                  (g) UNFUNDED STATUS OF AWARDS; CREATION OF TRUSTS. The Plan is
intended to constitute an "unfunded" plan for incentive and deferred
compensation. With respect to any payments not yet made to a Participant or
obligation to deliver Stock pursuant to an Award, nothing contained in the Plan
or any Award shall give any such Participant any rights that are greater than
those of a general creditor of the Company; provided that the Committee may
authorize the creation of trusts and deposit therein cash, Stock, other Awards
or other property, or make other arrangements to meet the Company's obligations
under the Plan. Such trusts or other arrangements shall be consistent with the
"unfunded" status of the Plan unless the Committee otherwise determines with the
consent of each affected Participant. The trustee of such trusts may be
authorized to dispose of trust assets and reinvest the proceeds in alternative
investments, subject to such terms and conditions as the Committee or the Board
may specify and in accordance with applicable law.

                  (h) NONEXCLUSIVITY OF THE PLAN. Neither the adoption of the
Plan by the Board nor its submission to the stockholders of the Company for
approval shall be construed as creating any limitations on the power of the
Board or a committee thereof to adopt such other incentive arrangements as it
may deem desirable including incentive arrangements and awards which do not
qualify under Code Section 162(m).

                  (i) PAYMENTS IN THE EVENT OF FORFEITURES; FRACTIONAL SHARES.
Unless otherwise determined by the Committee or the Board, in the event of a
forfeiture of an Award with respect to which a Participant paid cash or other
consideration, the Participant shall be repaid the amount of such cash or other
consideration. No fractional shares of Stock shall be issued or delivered
pursuant to the Plan or any Award. The Committee or the Board shall determine
whether cash, other Awards or other property shall be issued or paid in lieu of
such fractional shares or whether such fractional shares or any rights thereto
shall be forfeited or otherwise eliminated.

                  (j) GOVERNING LAW. The validity, construction and effect of
the Plan, any rules and regulations under the Plan, and any Award agreement
shall be determined in accordance with the laws of the State of Delaware without
giving effect to principles of conflicts of laws, and applicable federal law.

                  (k) PLAN EFFECTIVE DATE AND STOCKHOLDER APPROVAL; TERMINATION
OF PLAN. The Plan shall become effective on the Effective Date, subject to
subsequent approval within 12

                                       20
<PAGE>

months of its adoption by the Board by stockholders of the Company eligible
to vote in the election of directors, by a vote sufficient to meet the
requirements of Code Sections 162(m) and 422. Awards may be granted subject
to stockholder approval, but may not be exercised or otherwise settled in the
event stockholder approval is not obtained. The Plan shall terminate at such
time as no shares of Stock remain available for issuance under the Plan and
the Company has no further rights or obligations with respect to outstanding
Awards under the Plan.

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