Document:

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                                                                    EXHIBIT 10.7

                                SIGNALSOFT CORP.
                         NON-QUALIFIED STOCK OPTION PLAN
                                  ("NSO Plan")

1.   PURPOSE.

                  (a) The purpose of this Plan (the "Plan") is to provide a
means by which employees (including officers) of, directors of, and consultants
and advisors to SignalSoft Corp. (the "Company" or the "Corporation") or its
Affiliates, as defined in subparagraph 1(b), may be given an opportunity to
purchase stock of the Company.

                  (b) The word "Affiliate" as used in the Plan means any parent
corporation or subsidiary corporation of the Company as those terms are defined
in sections 425(e) and (f), respectively, of the Internal Revenue Code of 1954,
as amended (the "Code").

                  (c) The Company, by means of the Plan, seeks to retain the
services of persons now holding positions in connection with and/or in service
to the Company, to secure and retain the services of persons capable of filling
such positions, and to provide incentives for such persons to exert maximum
efforts for the success of the Company.

                  (d) The Company intends that the options issued under the Plan
not be incentive stock options as that term is used in Section 422A of the Code.

2.   ADMINISTRATION.

                  (a) The Plan shall be administered by the Board of Directors
(the "Board") of the Company unless and until the Board delegates administration
to a committee, as provided in subparagraph 2(c). Whether or not the Board has
delegated administration, the Board shall have final power to determine all

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questions of policy and expediency that may arise in the administration of the
Plan.

                  (b) The Board shall have the power, subject to, and within the
limitations of, the express provisions of the Plan:

                    (1) To determine from time to time which of the persons
eligible under the Plan shall be granted options; when and how the options shall
be granted; the provisions of each option granted (which need not be identical)
-- including, but not limited to, the time or times during the term of each
option within which all or portions of such option may be exercised; and the
number of shares for which an option shall be granted to each such person.

                    (2) To construe and interpret the Plan and options granted
under it, and to establish, amend and revoke rules and regulations for its
administration. The Board, in the exercise of this power, may correct any
defect, omission or inconsistency in the Plan or in any option agreement, in a
manner and to the extent it shall deem necessary or expedient to make the Plan
fully effective.

                    (3) To amend the Plan as provided in paragraph 10.

                    (4) Generally, to exercise such powers and to perform such
acts as the Board deems necessary or expedient to promote the best interests of
the Company.

                  (c) The Board may delegate administration of the Plan to a
committee composed of not fewer than three (3) members of the Board (the
"Committee"), all of the members of which Committee shall be disinterested
persons, if required and as defined by the provisions of subparagraph 2(d). If
administration is delegated to a Committee, the Committee shall have, in
connection with the

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administration of the Plan, the powers theretofore possessed by the Board,
subject, however, to such resolutions, not inconsistent with the provisions of
the Plan, as may be adopted from time to time by the Board. The Board may
abolish the Committee at any time and revest in the Board the administration of
the Plan. ADDITIONALLY, PRIOR TO THE DATE OF THE FIRST REGISTRATION OF AN EQUITY
SECURITY OF THE COMPANY UNDER SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED (THE "EXCHANGE ACT"), AND NOTWITHSTANDING ANYTHING TO THE CONTRARY
CONTAINED HEREIN, THE BOARD MAY DELEGATE ADMINISTRATION OF THE PLAN TO ANY
PERSON OR PERSONS TO WHOM AUTHORITY HAS BEEN DELEGATED.

                  (d) The term "disinterested person", as used in this Plan,
shall mean an administrator of the Plan, whether a member of the Board or of any
Committee to which responsibility for administration of the Plan has been
delegated pursuant to subparagraph 2(c), who is not at the time he or she
exercises discretion in administering the Plan eligible and has not at any time
within one year prior thereto been eligible for selection as a person to whom
stock may be allocated or to whom stock options or stock appreciation rights may
be granted pursuant to the Plan or any other plan of the Company or any of its
Affiliates entitling the participants therein to acquire stock, stock options or
stock appreciation rights of the Company or any of its Affiliates. Any such
person shall otherwise comply with the requirements of Rule 16b-3 promulgated
under the Exchange Act.

                  (e) ANY REQUIREMENT THAT AN ADMINISTRATOR OF THE PLAN BE A
"DISINTERESTED PERSON" SHALL NOT APPLY PRIOR TO THE DATE OF THE FIRST
REGISTRATION OF AN EQUITY SECURITY OF THE COMPANY UNDER SECTION 12 OF THE
EXCHANGE ACT.

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                  (f) All actions taken and all interpretations and
determinations made by the Board or the Committee hereunder in good faith
(including determinations of Fair Market Value) shall be final and binding upon
all optionees (and any persons to whom an option has been validly transferred
hereunder), the Company and all other interested persons. No member of the Board
or the Committee shall be personally liable for any action, determination or
interpretation made in good faith with respect to the Plan, and all members of
the Board or the Committee shall, in addition to their rights as directors, be
fully protected by the Company with respect to any such action, determination or
interpretation.

3. SHARES SUBJECT TO THE PLAN.

                  (a) The Board or the Committee shall have the power to grant
options to purchase the Company's common stock hereunder in such amounts, and
subject to such terms and conditions, as the Board or the Committee shall
determine at the time of each stock option grant, consistent with the terms and
conditions of this Plan; provided, however, that the aggregate number of shares
of the Company's common stock which may be sold pursuant to options granted
under this Plan (or any other stock option plan the Company may hereafter adopt
which exists simultaneously with this Plan) may at no time exceed the number of
shares of common stock then authorized but remaining unissued minus the number
of shares of common stock at that time reserved for issuance for any other
purpose. If any option granted under this Plan or under any other stock option
plan of the Company hereafter adopted shall for any reason expire or otherwise
terminate without having been exercised in full, the stock not purchased under
such option shall again become available for this Plan and/or for any such other
stock

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option plan of the Company. In addition, if options granted under this Plan or
any such other Company stock option plan are exercised in accordance with the
terms of the option, and shares of the stock so acquired are thereafter
repurchased by the Company in accordance with the terms of such option or this
Plan or any such other Company stock option plan, the stock so repurchased shall
become available for the Plan and/or for such other Company stock option plan.

                  (b) The stock subject to the Plan may be unissued shares or
reacquired shares, bought on the market or otherwise. Any shares of common stock
subject to stock options forfeited by an optionee for any reasons shall not
thereafter be eligible for purchase by the optionee, but may be made subject to
stock options granted to other optionees.

                  (c) There is no maximum limit on the aggregate Fair Market
Value (determined as of the times the respective options are granted) of the
stock for which any eligible person may be granted options under the Plan in any
calendar year.

                  (d) If the common stock of the Company is not traded publicly,
the "Fair Market Value" of a share of common stock (whenever such Fair Market
Value may be determined as of any given date), shall be determined in good faith
by the Board of Directors or the Committee after such consultations with outside
legal, accounting and other experts as the Board of Directors or the Committee
may deem advisable, and whenever the Board or the Committee makes such a
determination of Fair Market Value in its discretion, the Board or the Committee
shall maintain a written record of its method of determining such value. If the
common stock of the Company is traded publicly, the Fair Market Value of

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a share of common stock on any date shall be the average of the representative
closing bid and asked prices, as quoted by the National Association of
Securities Dealers through NASDAQ (its automated system for reporting quotes),
for the date in question, or, if the common stock is listed on the NASDAQ
National Market System or is listed on a national stock exchange, the officially
quoted closing price on NASDAQ or such exchange, as the case may be, on the date
in question.

4.  ELIGIBILITY.

                  (a) Options may be granted to any employee (including
officers) of, directors of, or consultants and advisors to the Company or its
Affiliates.

                  (b) A director shall in no event be eligible for the benefits
of the Plan unless and until such director is expressly declared eligible to
participate in the Plan by action of the Board or the Committee, and only if, at
any time discretion is exercised by the Board in the selection of a director as
a person to whom options may be granted, or in the determination of the number
of shares which may be covered by options granted to a director, a majority of
the Board and a majority of the directors acting in such manner are
disinterested persons, as defined in paragraph 2(d). The Board shall otherwise
comply with the requirements of Rule 16b-3 promulgated under the Exchange Act,
as from time to time in effect. THIS SUBPARAGRAPH 4(b) SHALL NOT APPLY PRIOR TO
THE DATE OF THE FIRST REGISTRATION OF AN EQUITY SECURITY OF THE COMPANY UNDER
SECTION 12 OF THE EXCHANGE ACT.

5.   OPTION PROVISIONS.

                  Each option shall be in such form and shall contain such terms
and conditions as the Board or Committee shall deem

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appropriate. The provisions of separate options need not be identical, but each
option shall include (through incorporation of provisions hereof by reference in
the option or otherwise) the substance of each of the following provisions:

                  (a) The term of any option shall not be greater than ten (10)
years from the date it was granted.

                  (b) The purchase price of stock acquired pursuant to an option
shall be paid, to the extent permitted by applicable statutes and regulations,
either (i) in cash at the time the option is exercised, or (ii) at the
discretion of the Board or Committee, either at the time of grant or exercise of
the option (A) by delivery to the Company of other common stock of the Company,
(B) according to a deferred payment or other arrangement (which may include,
without limiting the generality of the foregoing, the use of other common stock
of the Company) with the person to whom the option is granted or to whom the
option is transferred pursuant to subparagraph 5(c), or (C) in any other form of
legal consideration that may be acceptable to the Board or the Committee in
their discretion.

                  In the case of any deferred payment arrangement, any interest
shall be payable at least annually and shall be charged at the minimum rate of
interest necessary to avoid the treatment as interest, under any applicable
provisions of the Code, of any amounts other than amounts stated to be interest
under the deferred payment arrangement.

                  (c) An option shall not be transferable except by will or the
laws of descent and distribution, and shall be exercisable during the lifetime
of the person to whom the option is granted only by such person.

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                  (d) The total number of shares of stock subject to an option
may, but need not, be allocated in periodic installments (which may, but need
not, be equal). From time to time during each of such installment periods, the
option may be exercised with respect to some or all of the shares allotted to
that period, and/or with respect to some or all of the shares allotted to any
prior period as to which the option was not fully exercised. During the
remainder of the term of the option (if its term extends beyond the end of the
installment periods), the option may be exercised from time to time with respect
to any shares then remaining subject to the option. The provisions of this
subparagraph 5(d) are subject to any option provisions governing the minimum
number of shares as to which an option may be exercised, and to the Vesting
Start Date for such installment(s) as determined by the Board or the Committee
at the time of grant. The Board or the Committee shall have the power -- on such
terms and conditions, if any, as the Board or Committee deems appropriate --to
accelerate the time during which an option may be exercised or the time during
which an option or any portion thereof will vest pursuant to this subparagraph
5(d), notwithstanding the provisions in the stock option grant agreement stating
the time during which it may be exercised or the time during which it will vest.

                  (e) The Company may require any optionee, or any person to
whom an option is transferred under subparagraph 5(c), as a condition of
exercising any such option: (1) to give written assurances satisfactory to the
Company as to the optionee's knowledge and

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experience in financial and business matters and/or to employ a purchaser
representative who has such knowledge and experience in financial and business
matters that he is capable of evaluating, alone or together with a purchaser
representative, the merits and risks of exercising the option; and (2) to give
written assurance satisfactory to the Company stating that such person is
acquiring the stock subject to the option for such person's own account and not
with any present intention of selling or otherwise distributing the stock. These
requirements, shall be inoperative if (i) the issuance of the shares upon the
exercise of the option has been registered under a then currently effective
registration statement under the Securities Act of 1933, as amended (the
"Securities Act"), or (ii), as to any particular requirement, a determination is
made by counsel for the Company that such requirement need not be met in the
circumstances under the then applicable securities laws.

                  (f) Unless otherwise determined at the time of grant or
subsequently amended by the Board or the Committee, an option shall terminate
three (3) months after termination of the optionee's employment with the Company
or an Affiliate, unless (i) the termination of the employment of the optionee is
due to such person's total and permanent disability, within the meaning of
Section 422A(c)(9) of the Code, in which case the option may, but need not,
provide that it be exercised at any time within one (1) year following such
total and permanent disability; or (ii) the optionee dies while in the employ of
the Company or an Affiliate, or within not more than three (3) months after
termination of such employment, in which case the option may, but need not,
provide that it be exercised at any time within one (1) year following the death
of the optionee by the person or persons to whom the optionee's rights under
such option pass by will or by the laws of

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descent and distribution; or (iii) the option by its terms of its grant
specifies either (a) that it shall terminate sooner than three (3) months after
termination of the optionee's employment, or (b) that it may be exercised more
than three (3) months after termination of the optionee's employment with the
Company or an Affiliate. This subparagraph 5(f) shall not be construed to extend
the term of any option or to permit anyone to exercise the option after
expiration of its term, nor shall it be construed to increase the number of
shares as to which any option is exercisable from the amount exercisable on the
date of termination of the optionee's employment.

                  (g) Prior to an initial public offering of the Company's
common stock: (i) the Company retains the right to repurchase at any time all or
any portion of the shares of common stock purchased pursuant to any stock option
granted hereunder at a purchase price equal to the Fair Market Value of the
common stock on the date of such repurchase by the Company; (ii) no holder of
any share of common stock purchased pursuant to any stock option granted
hereunder may sell, convey, or pledge any shares of common stock so purchased
unless such holder first gives written notice of such proposed sale, conveyance
or pledge to the Company at least thirty (30) days prior to the proposed
consummation date of such transaction, during which thirty-day period the
Company may exercise its rights under the subparagraph 5(g)(i); and (iii) in the
event the Company chooses within said thirty-day period not to exercise its
rights of repurchase with respect to a particular proposed sale after having
received proper notice thereof pursuant to subparagraph 5(g)(ii), then
notwithstanding the Company's choice not to exercise its repurchase rights with
respect to that

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particular proposed sale, the repurchase rights of the Company and restrictions
set forth in subparagraphs 5(g)(i) and 5(g)(ii) shall survive any sale of shares
originally purchased pursuant to any stock option granted hereunder to any
subsequent party or parties until such time as an initial public offering of the
Company's common stock occurs. All shares purchased pursuant to an option
granted hereunder -- or thereafter sold as permitted hereunder to any subsequent
party or parties -- shall bear a legend imprinted on the stock certificates
evidencing such shares as follows:

                  THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
THE TERMS AND CONDITIONS OF THAT CERTAIN NON-QUALIFIED STOCK OPTION PLAN OF THE
CORPORATION AND THE STOCK OPTION GRANT AGREEMENT PURSUANT TO WHICH THE SHARES
REPRESENTED BY THIS CERTIFICATE WERE ORIGINALLY PURCHASED. A COPY OF SAID PLAN
AND STOCK OPTION GRANT AGREEMENT ARE ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES
OF THE CORPORATION, AND THE CORPORATION WILL FURNISH COPIES OF SUCH AGREEMENTS
TO THE HOLDER OF THIS CERTIFICATE UPON REQUEST. SUCH REQUEST MAY BE MADE TO THE
CORPORATION'S PRESIDENT OR SECRETARY.

6. COVENANTS OF THE COMPANY.

                  (a) During the terms of the options granted under the Plan,
the Company shall keep available at all times the number of shares of stock
required to satisfy such options.

                  (b) The Company shall seek to obtain from each regulatory
commission or agency having jurisdiction over the Plan such authority as may be
required to issue and sell shares of stock upon exercise of the options granted
under the Plan; provided, however, that this undertaking shall not require the
Company to register under the Securities Act either the Plan, any

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option granted under the Plan or any stock issued or issuable pursuant to any
such option. If, after reasonable efforts, the Company is unable to obtain from
any such regulatory commission or agency the authority which counsel for the
Company deems necessary for the lawful issuance and sale of the stock under the
Plan, the Company shall be relieved from any liability for failure to issue and
sell stock upon exercise of such options unless and until such authority is
obtained.

7.   USE OF PROCEEDS FROM STOCK.

                  Proceeds from the sale of stock pursuant to options granted
under the Plan shall constitute general funds of the Company.

8.   MISCELLANEOUS.

                  (a) Neither an optionee nor any person to whom an option is
transferred under subparagraph 5(c) shall be deemed to be the holder of, or to
have any of the rights of a holder with respect to, any shares subject to such
option unless and until such person has satisfied all requirements for exercise
of the option pursuant to its terms.

                  (b) Throughout the term of any option granted pursuant to the
Plan, the Company shall make available to the holder of such option, upon
request, such financial and other information regarding the Company as is
contained in the annual report to the shareholders of the Company, if any such
annual report is made and distributed to the Company shareholders.

                  (c) Nothing in the Plan or any instrument executed or option
granted pursuant thereto shall confer upon any eligible participant or optionee
any right to continue in the employ of the Company or any Affiliate or shall
affect the right of the Company

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or any Affiliate to terminate the employment of any eligible participant or
optionee with or without cause.

                  (d) Neither the adoption of the Plan by the Board (or any
subsequent approval, if any, by the shareholders of the Company) shall be
construed as creating any limitations on the power or authority of the Board to
adopt such other or additional incentive or other compensation arrangements of
whatever nature as the Board may deem necessary or desirable or preclude or
limit the continuation of any other plan, practice or arrangement for the
payment of compensation or fringe benefits to employees generally, or to any
class or group of employees, which the Company or any Affiliate has or may
lawfully put into effect, including, without limitation, any retirement,
pension, savings and stock purchase plan, insurance death and disability
benefits and executive short-term incentive plans.

9. ADJUSTMENTS UPON CHANGES IN STOCK.

                  (a) If any change is made in the stock subject to the Plan, or
subject to any option granted under the Plan (through merger, consolidation,
reorganization, recapitalization, stock dividend, dividend in property other
than cash, stock split, liquidated dividend, combination of shares, exchange of
shares, change in corporate structure or otherwise), the Board shall make
appropriate adjustments in the class and maximum number of shares subject to the
Plan and the class and number of shares and price per share of stock subject to
outstanding options.

                  (b) In the event of: (1) a dissolution or liquidation of the
Company; (2) a merger or consolidation in which the Company is not the surviving
corporation; (3) a reverse merger in which the Company is the surviving
corporation but the shares of

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the Company's common stock outstanding immediately preceding the merger are
converted by virtue of the merger into other property, whether in the form of
securities, cash or otherwise; or (4) any other capital reorganization in which
more than fifty percent (50%) of the shares of the Company entitled to vote are
exchanged, then, at the sole discretion of the Board and to the extent permitted
by applicable law: (i) any surviving corporation shall assume any options
outstanding under the Plan or shall substitute similar options for those
outstanding under the Plan, (ii) the time during which such options may be
exercised shall be accelerated and the option terminated if not exercised prior
to such event, or (iii) such options shall continue in full force and effect.

10. AMENDMENT OF THE PLAN.

                  (a) The Board at any time, and from time to time, may amend or
alter the Plan.

                  (b) Except as otherwise provided herein [e.g., in
paragraph 5(d)] rights and obligations under any option granted before amendment
of the Plan shall not be altered or impaired by any amendment of the Plan,
except with the consent of the person to whom the option was granted.

11.   TERMINATION OR SUSPENSION OF THE PLAN.

                  (a) The Board may at any time terminate, discontinue or
suspend the Plan at any time. Unless sooner terminated, the Plan shall terminate
ten (10) years from the date the Plan is adopted by the Board. No options may be
granted under the Plan while the Plan is suspended or after it is terminated.

                  (b) Except as otherwise provided herein [e.g., in paragraph
5(d)], rights and obligations under any option granted

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while the Plan is in effect shall not be altered or impaired by suspension or
termination of the Plan, except with the consent of the person to whom the
option was granted.

12. EFFECTIVE DATE OF PLAN.

                  The Plan shall become effective on November 17, 1995, the date
adopted by the Board.

                  The above Plan was originally approved and adopted by the
Company's Board of Directors on November 17, 1995.

                                          /s/ Duncan A. Campbell III
                                          --------------------------------------
                                          Duncan A. Campbell III
                                          Corporate Secretary

                                          Dated:  November 17, 1995

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                                 FIRST AMENDMENT
                                     TO THE
                                SIGNALSOFT CORP.

                         NON-QUALIFIED STOCK OPTION PLAN

         Pursuant to action duly taken by the Board of Directors of SignalSoft
Corp. (the "Company" or the "Corporation")at its meeting held August 1, 1996,
the Company's Non-Qualified Stock Option Plan (the "NSO Plan" or the "Plan")
adopted by the Board on November 17, 1995, is hereby amended, effective as of
August 1, 1996, by changing the period to a comma at the end of the first
sentence of Section 3(a) -- "SHARES SUBJECT TO THE PLAN" -- and adding thereto
the following phrase: "or such lesser amount as may be required by law or by any
contract or document by which the Company is bound".

                                          /s/ Duncan A. Campbell II
                                          --------------------------------------
                                          Duncan A. Campbell III
                                          Corporate Secretary

                                          Dated:   August 1, 1996<PAGE>   1
                                                                    EXHIBIT 10.8

                      FORM OF STOCK OPTION GRANT AGREEMENT

         THIS STOCK OPTION GRANT AGREEMENT, dated as of the day of , 199 ,
between SignalSoft Corporation, a Delaware corporation (the "Company"), and ,
(the "Option Holder").

         The Company desires, by affording the Option Holder an opportunity for
investment in shares of its common stock (the "Common Stock"), to further the
objectives of the Company's Non-Qualified Stock Option Plan, a copy of which is
attached hereto as Exhibit A (the "Plan" or the "NSO Plan"), by providing a
special incentive to the Option Holder to continue his or her services to the
Company and to increase his or her efforts on behalf of the Company. (Terms
capitalized but not defined herein are used as defined in the Plan.)

         The parties, in consideration of the mutual covenants herein set forth,
agree as follows:

         1. Form of Stock Option. Upon the terms and subject to the conditions
hereof, the Company hereby grants to the Option Holder, as a matter of separate
agreement and not in lieu of salary or any other compensation for services, the
right and option (the "Option") to purchase up to an aggregate of shares of its
Common Stock (the "Optioned Shares") pursuant to the Plan.

         2. Stock Option Price and Grant Date. The purchase (or "exercise")
price of the Optioned Shares shall be $ per share (the "Stock Option Price").
The date of the grant of the Option is (the "Date of Grant").

         3.  Manner of Exercise.

             (a) Vesting: Subject to the terms and conditions hereof and the
terms of the Plan, the Option shall become exercisable as to twenty-four percent
(24%) of the original number of Optioned Shares on the first anniversary of the
"Vesting Start Date"), and an additional two percent (2%) of the original number
of Optioned Shares on the last day of every month thereafter until fully vested
after fifty (50) months from the Vesting Start Date (or sooner as may be
otherwise provided by valid action of the Company pursuant to the Plan).

             (b) Term and Notice of Exercise: Subject to the above, the Option
may be exercised thereafter at any time and from time to time on or before the
day preceding the tenth anniversary of the Date of Grant (the "Option Period")
by written notice to the Company, which notice (a) shall state the election to
exercise the Option and the number of shares as to which the Option is then
being exercised; (b) shall be accompanied by payment in full of the Stock Option
Price of said shares; and (c) shall be signed by

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the person(s) so exercising the Option and, in the event that the Option is
being exercised by any person(s) other than the Option Holder, shall be
accompanied by appropriate proof of the right of such person(s) to exercise the
Option as provided in the Plan. Payment of the Stock Option Price may be made in
cash on the date of exercise, or, at the sole discretion of the Board or the
Committee as defined in the Plan, according to a deferred payment or other
arrangement (which may include, without limiting the generality of the
foregoing, the use of other Common Stock).

             (c) Withholding: In any event, the Company may withhold the
issuance of the Common Stock until the Option Holder provides the Company with
cash equal to the federal and state income taxes, if any, which the Company is
required to withhold in connection with the exercise of the Option. At the sole
discretion of the Board or the Committee at that time, the Option Holder may be
permitted to satisfy any withholding obligation by transferring to the Company
Common Stock or by having Common Stock withheld from the Common Stock otherwise
issuable upon exercise of this Option, with a fair market value (as determined
by the Board) on the date that the amount of tax is to be withheld equal to the
amount the Company is required to withhold in connection with the exercise of
the Option.

             (d) Subsequent Tax Liability: Federal and state income tax
liability resulting from the ultimate disposition of the stock purchased
pursuant to the Option shall be the sole responsibility of the Option Holder.

             (e) Issuance of Stock: Within a reasonable time from the date of
receipt by the Company of the foregoing notice and all required payments and
other documentation, a certificate or certificates for the shares as to which
the Option shall have been so exercised, registered in the name of the person(s)
so exercising the Option and, if deemed necessary by counsel to the Company,
legended to evidence any commitments given or restrictions imposed pursuant to
paragraph 7 hereof or otherwise, shall be issued by the Company and delivered to
such person(s). All shares issued as provided herein will be fully paid and
non-assessable.

         4. Rights of Option Holder. The Option Holder shall have none of the
rights of a stockholder with respect to any Common Stock subject to the Option
until such shares shall be issued to such Option Holder upon the exercise of the
Option.

         5. Transferability. The Option shall not be transferable by the Option
Holder otherwise than by will or by the laws of descent and distribution, and
the Option may be exercised during the Option Holder's lifetime only by the
Option Holder (or, in the event of the Option Holder's disability or incapacity,
by his or her guardian or legal representative). Without limiting the generality
of the foregoing, the Option may not be assigned,

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transferred, pledged, or hypothecated (whether by operation of law or otherwise)
and shall not be subject to execution, attachment, or similar process. Any
attempted assignment, transfer, pledge, hypothecation, or other disposition of
the Option contrary to the provisions hereof, or the levy of any attachment or
similar process upon the Option, may, at the election of the Board or the
Committee, cause the Option to terminate forthwith and to be thereafter null and
void and of no force or effect.

         6. Exercise After Termination of Employment, Death, or Disability.

            (a) Termination of Employment: In the event that the Option Holder's
employment with the Company is terminated within the Option Period for any
reason other than the death or disability of the Option Holder, the Option shall
remain exercisable, to the extent that it was exercisable on the date of
termination, for a period of three (3) months after such date; provided,
however, that in no event may the Option be exercised after the expiration of
the Option Period.

            (b) Death or Disability of Option Holder: In the event that the
Option Holder's employment with the Company ceases within the Option Period or
within the three-month period described in (a) above, because of the Option
Holder's death or disability, the Option shall remain exercisable, to the extent
that it was exercisable on the date of the Option Holder's death or disability,
for a period of one (1) year after such date; provided, however, that in no
event may the Option be exercised after the expiration of the Option Period.

         7. Limitations Upon Issuance of Stock. Anything contained herein to the
contrary notwithstanding, no Common Stock shall be issued upon exercise of the
Option until the Company is satisfied that such shares may be issued in
compliance with all applicable laws and regulations, including, without
limitation, federal and applicable state securities laws, and with the
requirements of any stock exchange upon which the Common Stock is then listed.
In that connection, the Company may require the Option Holder, as a condition to
issuing such shares, to execute such covenants and certificates, containing such
agreements and representations, as the Company deems appropriate to establish
the availability of exemptions from federal and applicable state securities laws
and otherwise to effect or establish such compliance. The Company shall not have
any liability with respect to any failure to issue shares as a result of the
provisions of this paragraph 7.

         8. Company's Right to Repurchase Shares Purchased Pursuant to Options
Granted Herein and Restrictions on Resale. Prior to an initial public offering
of the Company's Common Stock: (a) the Company shall have a continuing right to
repurchase at any time all or any portion of the shares of Common Stock
purchased

                                       3
<PAGE>   4

pursuant to any stock option granted hereunder at a purchase price equal to the
Fair Market Value of the Common Stock on the date of such repurchase by the
Company; and (b) certain restrictions on the sale, conveyance or pledge of such
shares, applicable both to the Option Holder and to any subsequent permitted
purchaser, are set forth in detail in subparagraph 5(g) of the Plan, together
with the restrictive legend which shall be imprinted on all certificates
evidencing shares purchased pursuant to an option granted hereunder -- or
thereafter sold as permitted under the terms of subparagraph 5(g) of the Plan to
any subsequent party or parties.

         9. No Right of Continued Service. Nothing in this Agreement or in the
Plan, or in any instrument executed in connection therewith shall confer upon
the Option Holder any right to continue in the employ of or in service to the
Company or any Affiliate or shall affect the right of the Company or any
Affiliate to terminate the employment or services of the Option Holder with or
without cause, nor in the case of an Option Holder who is a director of the
Company, shall it impose on the Company any obligation to nominate Option Holder
for re-election at any meeting of the Company's stockholders.

         10. Board or Committee's Determination Binding. A determination by the
Board or Committee as to any question which may arise with respect to the
interpretation of the provisions of this Stock Option Grant Agreement or the
Plan shall be final and binding on the Option Holder.

         11. Incorporation of Plan by Reference. This Stock Option Grant
Agreement is entered into pursuant to the Plan and all terms and provisions of
the Plan hereby are incorporated by reference as if fully set forth herein. The
terms of the Plan shall control in the event of any inconsistency or ambiguity
between the Plan and this Stock Option Grant Agreement.

         IN WITNESS WHEREOF, the Company and the Option Holder have duly
executed this Option Agreement as of the day and year first above written.

OPTION HOLDER:                            SIGNALSOFT CORPORATION

                                          By:
-----------------------------                -----------------------------------
        (Print Name)

                                          Title:
-----------------------------                   --------------------------------
(Signature)

                                       4

<PAGE>   5

                          STOCK OPTION GRANT AGREEMENT

                                     between

                             SIGNALSOFT CORPORATION

                                       and

                                  Option Holder

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