Document:

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                                                                   Exhibit 10.01

                                SECOND AMENDMENT

                                       TO

                         EXECUTIVE EMPLOYMENT AGREEMENT

     This Amendment No. 2 (the "Amendment") to the Employment Agreement (as
defined below) is entered into as this 2nd day of June, 2003, by Wabash National
Corporation (the "Company") and William Greubel (the "Executive").

     WHEREAS, the Company and Executive entered into an Employment Agreement
dated April 12, 2002, and a First Amendment to the Employment Agreement dated
December 5, 2002, (collectively the "Employment Agreement");

     WHEREAS, capitalized terms used but not otherwise defined in this Amendment
shall have the meanings ascribed to them in the Employment Agreement; and

     WHEREAS, pursuant to Section 12 of the Employment Agreement, the parties to
the Employment Agreement hereby wish to amend the Employment Agreement to
provide for the reimbursement of certain expenses incurred by the Executive in
connection with the Evansville Home.

     NOW, THEREFORE, in consideration of the foregoing and the mutual promises,
agreements, covenants, representations and warranties set forth below and in the
Employment Agreement, the parties hereto agree as follows:

     1. RELOCATION EXPENSES. The fifth through ninth sentences of Section 3.6 of
the Employment Agreement, beginning with the words "If the Executive is
unable..." are hereby deleted and replaced in their entirety with the following:

     From November 1, 2002 through November 1, 2003 or until such time as the
     Executive is able to close on the sale of the Evansville Home, whichever is
     sooner, the Company shall reimburse the Executive for the monthly payment
     of Two Thousand Seven Hundred Thirty Four Dollars and Zero Cents
     ($2,734.00) in monthly principal and interest on the Executive's mortgage
     on the Evansville Home, and the reasonable monthly electric, heating and
     cooling and insurance expenses of the Evansville Home. In addition, the
     Company shall reimburse the Executive for reasonable expenses pertaining to
     the following: lawn care, home security, home repairs, homeowner's dues
     and, also, for taxes payable November, 2002 and May, 2003. Except as
     specified herein, Executive shall be responsible for all other expenses
     associated with the Evansville Home. Such costs, exclusive of those costs
     attributable to payment or reimbursement of taxes, to be grossed up so that
     the Executive pays no federal or state income taxes for such expenses.

     Notwithstanding the foregoing, if the Executive is unable to sell the
     Evansville Home for the fair market value of the Evansville Home on the
     date (the "Listing Date") that the Executive put the Evansville Home on the
     market, then the Company may, in its sole discretion, choose to buy the
     Evansville Home from the Executive at the fair market value on the Listing
     Date or direct that the Evansville Home be sold to a third party. If

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     the Company directs that the Evansville Home be sold to a third party, the
     Company shall reimburse the Executive the difference between the sales
     price and the fair market value of the Evansville Home as of the Listing
     Date. Accordingly, all offers for the purchase of the Evansville Home that
     are presented to the Executive must be presented to the Company and the
     Company may direct the Executive to accept any offer for the purchase of
     the home that has reasonable and customary market terms.

          This Agreement terminates upon the sale of or the Company's purchase
     of the Evansville home or by November 1, 2003, whichever is earlier; This
     Agreement can be extended subject to Board of Directors approval and
     evaluation of need for further extension of the Agreement.

     2. AMENDMENTS. This Amendment may be amended or modified only by a written
instrument executed by both the Company and the Executive.

     3. GOVERNING LAW. This Amendment shall be construed, interpreted and
enforced in accordance with the laws of the State of Indiana, regardless of the
laws that might otherwise govern under applicable principles of conflicts of
law.

     4. COUNTERPARTS. This Amendment may be executed in one or more
counterparts, each of which shall be deemed an original, and all of which
together shall constitute one and the same instrument.

     IN WITNESS WHEREOF, the undersigned have duly executed this Amendment, or
have caused this Amendment to be duly executed on their behalf, as of the day
and year first hereinabove written.

                                     WILLIAM GREUBEL

                                     -----------------------------------

                                     WABASH NATIONAL CORPORATION

                                     -----------------------------------
                                     By:
                                     Title:<PAGE>
                                                                   Exhibit 10.39

                                   PCTEL, INC.

                               BOARD OF DIRECTORS

                           DEFERRED COMPENSATION PLAN

                         EFFECTIVE AS OF JANUARY 1, 2004

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<Table>
<Caption>
                                TABLE OF CONTENTS

<S>                                                             <C>
ARTICLE 1   DEFINITIONS ......................................   1

ARTICLE 2   ELIGIBILITY AND PARTICIPATION ....................   4

ARTICLE 3   CONTRIBUTIONS TO DEFERRAL ACCOUNTS ...............   5

ARTICLE 4   ACCOUNTS AND ALLOCATION OF FUNDS .................   5

ARTICLE 5   ENTITLEMENT TO BENEFITS ..........................   7

ARTICLE 6   DISTRIBUTION OF BENEFITS .........................  11

ARTICLE 7   BENEFICIARIES; PARTICIPANT DATA ..................  11

ARTICLE 8   PLAN ADMINISTRATION ..............................  12

ARTICLE 9   AMENDMENT OR TERMINATION .........................  15

ARTICLE 10  MISCELLANEOUS ....................................  16
</Table>

EXHIBIT A      PARTICIPANT ENROLLMENT AND ELECTION FORM

EXHIBIT B      DEEMED INVESTMENT ELECTIONS

EXHIBIT C      DESIGNATION OF BENEFICIARY

EXHIBIT D      DEATH BENEFIT

EXHIBIT E      DEEMED INVESTMENT OPTION CHANGE FORM

                                        i
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                                   PCTEL, INC.

                  BOARD OF DIRECTORS DEFERRED COMPENSATION PLAN

         THIS PLAN is adopted as of the __ day of _________, 200_, by PCTEL,
Inc., a Delaware corporation (the "Corporation"), as follows:

                                    RECITALS

         WHEREAS, the Corporation wishes to establish the PCTEL, Inc. "Board of
Directors Deferred Compensation Plan" (the "Plan") to provide additional
retirement benefits and income tax deferral opportunities for its non-employee
members of the Board of Directors; and

         WHEREAS, the Corporation intends that the Plan shall at all times be
administered and interpreted in such a manner as to constitute an unfunded
nonqualified deferred compensation plan for a select group of management or
highly compensated employees and to qualify for all available exemptions from
the provisions of ERISA;

         NOW, THEREFORE, the Corporation hereby adopts the following Board of
Directors Deferred Compensation Plan.

                                   ARTICLE 1

                                   DEFINITIONS

         DEFINITION OF TERMS. Certain words and phrases are defined when first
used in later sections of this Plan. Whenever any words are used in the
masculine, they shall be construed as though they were in the feminine in all
cases where they would so apply; and whenever any words are used in the singular
or in the plural, they shall be construed as though they were used in the plural
or the singular, as the case may be, in all cases where they would so apply. In
addition, the following words and phrases when used, unless the context clearly
requires otherwise, shall have the following respective meanings:

1.1.     ACCOUNT. A Participant's Deferral Account.

1.2.     BENEFICIARY. The Beneficiary(ies) designated by a Participant under
         Article 7, or, if the Participant has not designated a Beneficiary
         under Article 7, the person or persons entitled to receive
         distributions of benefits under Article 5.

1.3.     BOARD MEMBER. Any member of the Board of Directors of the Corporation.

1.4.     CALENDAR YEAR. January 1 to December 31.

1.5.     CAUSE. For purposes of this Plan "Cause" shall mean any of the
         following acts or circumstances: (i) willful destruction by the
         Participant of property of the Corporation having a material value to
         the Corporation; (ii) fraud, embezzlement, theft, or comparable
         dishonest activity committed by the Participant (excluding acts
         involving a de minimis dollar value and not related to the
         Corporation); (iii) the Participant's conviction of or entering a plea
         of guilty or nolo contendere to any crime constituting a felony or any

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         misdemeanor involving fraud, dishonesty or moral turpitude (excluding
         acts involving a de minimis dollar value and not related to the
         Corporation); (iv) the Participant's breach, neglect, refusal, or
         failure to materially discharge the Participant's duties (other than
         due to physical or mental illness); (v) any willful misconduct by the
         Participant which may cause substantial economic or reputational injury
         to the Corporation, including, but not limited to, sexual harassment,
         or (vi) a willful and knowing material misrepresentation to the Board
         or the Chief Executive Officer of the Corporation.

1.6.     CHANGE IN CONTROL shall mean the occurrence of any of the following:

              (i)   Any "Person" or "Group", as such terms are defined in
                    Section 13(d) of the Securities Exchange Act of 1934 (the
                    "Exchange Act") and the rules and regulations promulgated
                    thereunder, excluding any excluded stockholder, who is or
                    becomes the "Beneficial Owner" (within the meaning of Rule
                    13d-3 under the Exchange Act), directly or indirectly, of
                    securities of the Corporation, or of any entity resulting
                    from a merger or consolidation involving the Corporation,
                    representing more than thirty percent (30%) of the combined
                    voting power of the then outstanding securities of the
                    Corporation or such entity.

              (ii)  A change in the composition of the Board occurring within
                    any two year period commencing with the Effective Date, as a
                    result of which fewer than a majority of the directors are
                    Incumbent Directors. "Incumbent Directors" shall mean
                    directors who either (A) are directors of the Corporation as
                    of the Effective Date, or (B) are elected, or nominated for
                    election, to the Board with the affirmative votes of at
                    least a majority of those directors whose election or
                    nomination was not in connection with any transaction
                    described in subsections (i) or (iii) hereof, or in
                    connection with an actual or threatened proxy contest
                    relating to the election of directors to the Corporation.

              (iii) The consummation of (x) a merger, consolidation or
                    reorganization to which the Corporation is a party, whether
                    or not the Corporation is the Person surviving or resulting
                    therefrom, or (y) a sale, assignment, lease, conveyance or
                    other disposition of all or substantially all of the assets
                    of the Corporation, in one transaction or a series of
                    related transactions, to any Person other than the
                    Corporation, where any such transaction or series of related
                    transactions as is referred to in clause (x) or clause (y)
                    above in this subparagraph (iii) (singly or collectively, a
                    "Transaction") does not otherwise result in a "Change in
                    Control" pursuant to subparagraph (i) of this definition of
                    "Change in Control"; provided, however, that no such
                    Transaction shall constitute a "Change in Control" under
                    this subparagraph (iii) if the Persons who were the
                    stockholders of the Corporation immediately before the
                    consummation of such Transaction are the Beneficial Owners,
                    immediately following the consummation of such Transaction,
                    of thirty percent (30%) or more of the combined voting power
                    of the then outstanding voting securities of the Person
                    surviving or resulting from any merger, consolidation or
                    reorganization referred to in clause (x) above in this
                    subparagraph (iii) or

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               the Person to whom the assets of the Corporation are sold,
               assigned, leased, conveyed or disposed of in any transaction or
               series of related transactions referred in clause (y) above in
               this subparagraph (iii), in substantially the same proportions in
               which such Beneficial Owners held voting stock in the Corporation
               immediately before such Transaction.

1.7.     CODE. The Internal Revenue Code of 1986, as amended from time to time.

1.8.     COMPENSATION. The amount(s) to which a Participant is entitled during a
         Calendar Year.

1.9.     DEFERRAL ACCOUNT. The account maintained on the books by the Plan
         Administrator for the Participant including (i) the Participant Annual
         Deferral and (ii) deemed investment earnings, gains and losses credited
         to the Participant; provided, however, that the existence of such book
         entries and the Deferral Account shall not create, and shall not be
         deemed to create, a trust of any kind, or a fiduciary relationship
         between the Corporation and the Participant, his or her designated
         beneficiaries, or other beneficiaries under this Plan.

1.10.    DEFERRAL PERIOD. The period after which payment of the Deferral Account
         is to be made or begun to be made.

1.11.    DISABILITY. Disability shall mean the total and permanent incapacity of
         the Participant, due to physical impairment or legally established
         mental incompetence, to perform the usual duties of his service as a
         Board Member with the Corporation.

1.12.    EFFECTIVE DATE. January 1, 2004.

1.13.    ELECTION OF DEFERRAL. A written notice filed by the Participant with
         the Plan Administrator of the Corporation in substantially the form
         attached hereto as Exhibit A, and referred herein as the "ELECTION
         FORM," specifying the amount (if any) of Compensation to be deferred.

1.14.    ERISA. The Employee Retirement Income Security Act of 1974, as amended
         from time to time.

1.15.    GOOD REASON means the reduction by the Corporation, on or after the
         occurrence of a Change in Control, of the Participant's Compensation,
         except in the context of a general reduction for all Board Members of
         up to ten per cent (10%).

1.16.    PARTICIPANT. Any member of the Board of Directors who has completed and
         submitted an Election Form, substantially in the form of Exhibit A
         attached hereto.

1.17.    PARTICIPANT ANNUAL DEFERRAL. The portion of a Participant's
         Compensation, which he or she elects to defer for the Calendar Year in
         question.

1.18.    PLAN. This Plan, together with any and all amendments or supplements
         thereto.

1.19     PLAN ADMINISTRATOR. A duly authorized officer of the Corporation
         designated by the Board of Directors.

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1.20     PLAN RETIREMENT DATE. The date selected by a Participant, however, no
         earlier than the date he or she attains 55 years of age.

1.21     PLAN YEAR. The Calendar Year.

1.22     RETIREMENT. The termination of a Participant's service on the Board of
         Directors of the Corporation on or after the Participant has reached
         his or her Plan Retirement Date.

1.23     VALUATION DATE. The last day of each quarter during a Plan Year, or
         such other dates as the Plan Administrator may establish in its
         discretion.

1.24     YEAR OF PARTICIPATION. Twelve months of continuous service on the Board
         of Directors of the Corporation measured from the Participant's date of
         entry into this Plan.

                                   ARTICLE 2

                          ELIGIBILITY AND PARTICIPATION

2.1      ELIGIBILITY.

         (a)   A Board Member shall become a Participant in the Plan following
               submittal of a completed Participant Election Form, substantially
               in the form of Exhibit A attached hereto. The initial Election of
               Deferral must be filed on or before December 15, 2003 for any
               Board Member wishing to become a Participant. The Plan
               Administrator shall be notified by the Corporation as new
               Participants participate in the Plan.

         (b)   Once a Board Member becomes a Participant, he or she shall remain
               a Participant until his or her termination of service on the
               Board of Directors of Corporation, and thereafter, until all
               benefits to which he or she (or his or her Beneficiaries) is
               entitled under the Plan have been paid.

2.2      PARTICIPATION.

         (a)   Each Participant Annual Deferral shall be effective for
               Compensation that would otherwise be paid in the Calendar Year to
               which the Election of Deferral applies, and shall be irrevocable
               during such Calendar Year. Any subsequent Election of Deferral,
               to be effective, must be filed at least 10 days prior to the
               beginning of the Calendar Year for which deferral is sought. Any
               newly elected Board Member who chooses to participate and
               commence deferrals shall file an Election of Deferral within 30
               days following his/her election to the Board.

         (b)   AUTOMATIC ELECTION RENEWAL OF THE PARTICIPANT ANNUAL DEFERRAL. If
               a Participant fails to make a timely election to defer pursuant
               to the above, the Participant shall be deemed to have made the
               same election as is then currently in effect.

                                       4
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                                    ARTICLE 3

                       CONTRIBUTIONS TO DEFERRAL ACCOUNTS

3.1      DEFERRAL ELECTION.

         (a)   Commencing on the Effective Date, and continuing through the date
               on which the Participant's service as a Board Member terminates
               because of his or her death, Retirement, Disability, or any other
               cause, each Participant shall be entitled to elect to defer into
               his or her Deferral Account, by filing with the Plan
               Administrator an Election of Deferral prior to the beginning of
               the Plan Year, a portion of the Compensation that the Participant
               would be entitled to receive from the Corporation during the Plan
               Year.

         (b)   In the Election of Deferral, the Participant shall specify the
               amount to be deferred, that may be expressed as a percentage,
               where applicable, or as a fixed dollar amount.

                                    ARTICLE 4

                        ACCOUNTS AND ALLOCATION OF FUNDS

4.1.     DEFERRAL ACCOUNT ALLOCATIONS.

         (a)   Compensation that is deferred under Section 3.1 shall be credited
               to the Deferral Account on or about the date the Compensation
               would otherwise have been paid.

         (b)   All amounts paid from a Deferral Account are assumed to be paid
               on the first day of the month.

         (c)   Based on the Deemed Investment Elections (as that term is defined
               in Section 4.2 (a) below) of a Participant made under Section
               4.2, the Participant's Deferral Account shall be credited with
               deemed investment earnings, gains, losses or changes in value
               effective at the end of each calendar quarter during the Plan
               Year, except as otherwise provided in this Plan.

         (d)   The Plan Administrator may, at any time, change the timing or
               methods for crediting or debiting earnings, gains, losses, and
               changes in value of deemed investment options, deferrals of
               Compensation, and payments of benefits and withdrawals under this
               Plan; provided, however, that the times and methods for crediting
               or debiting such items in effect at any particular time shall be
               uniform among all Participants and Beneficiaries.

4.2      DEEMED INVESTMENT ELECTION AND DECLARED RATES.

         (a)   Deemed investment elections may be made from any of the various
               deemed investment alternatives selected by a Participant ("Deemed
               Investment Elections") from among those made available by the
               Corporation from time to time, which are outlined in Exhibit B.

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         (b)   A Participant (or, in the event of the Participant's death, the
               Participant's Beneficiary) shall make Deemed Investment Elections
               for the Participant's Deferral Account by filing a form
               substantially in the form of Exhibit B (or another form
               acceptable to the Plan Administrator) with the Plan
               Administrator. A Participant may elect to have his or her
               Deferral Account deemed to be invested in up to ten (10) deemed
               investment alternatives, provided, however, that each deemed
               investment alternative must be applied to at least 10% of the
               total balance in his or her Deferral Account and must be in a
               whole percentage amount. Deemed Investment Elections shall remain
               in effect until changed and may be changed not more than once a
               month, such change to be effective on the 1st day of the
               succeeding month, by completing a Deemed Investment Option Change
               Form, a copy of which is attached as Exhibit E.

         (c)   At the end of each calendar quarter (or such shorter period as
               the Plan Administrator may determine), the Corporation shall
               compute the total return for the quarter (or such shorter period)
               as to each Participant's Deemed Investment Elections.

         (d)   From time to time, and at its sole discretion, the Corporation
               may change the deemed investment alternatives that it makes
               available to the Participant. However, notwithstanding the
               provisions of this Section 4.2, the Corporation may invest
               contributions in investments other than the investments selected
               by such Participant but the Participant's return will solely be
               based on the results of his or her Deemed Investment Elections.

         (e)   The Corporation shall be under no obligation to purchase or
               maintain any life insurance policy, annuity contract, or any
               other asset, or in any manner provide funding for its obligations
               under this Plan. Nothing contained in this Plan and no action
               taken pursuant to the provisions of this Plan shall create or be
               construed to create a trust of any kind, or a fiduciary
               relationship between the Corporation and the Participant, or his
               designated beneficiary(ies) or any other person.

         (f)   If the Corporation chooses to obtain insurance on the life of a
               Participant in connection with its obligations under this Plan,
               the Participant hereby agrees to take such physical examinations
               and to truthfully and completely supply such information as may
               be required by the Corporation or the insurance company(ies)
               designated by the Corporation. If a Participant submits
               information to any such insurance company(ies) and if the
               Participant makes a material misrepresentation in an application
               for any insurance that may be used to insure any of the
               Corporation's obligations under this Plan, and if as a result of
               that material misrepresentation an insurance company is not
               required to pay all or any part of the benefit provided under
               that insurance, the Participant's right to a benefit under this
               Plan will be reduced by the amount of the benefit that is not
               paid by the insurance company because of such material
               misrepresentation.

4.3      DETERMINATION OF ACCOUNTS. A Participant's benefit as of each Valuation
         Date shall consist of the balance of deferrals of Compensation and
         deemed investment earnings, gains, losses, and changes in value in his
         or her Deferral Account determined in accordance with this Section.

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                                    ARTICLE 5

                             ENTITLEMENT TO BENEFITS

5.1      VESTING OF BENEFITS. The portion of a Participant's Deferral Account
that is attributable to his or her Participant Annual Deferral and deemed
investment earnings, gains, losses and changes in value credited thereon shall
be immediately fully vested.

5.2      RETIREMENT BENEFIT.

         (a)   From and after the Retirement of the Participant, the Corporation
               shall thereafter pay to the Participant his or her Accounts. Such
               benefits shall be payable in the manner elected by the
               Participant as follows:

                      1.   Lump Sum; or
                      2.   Annual over 15 years; or
                      3.   Lifetime of the Participant with 20 annual payments
                           guaranteed

               Such election may be changed by the Participant by giving written
               notice to the Corporation not later than one year before
               Retirement, or promptly following a Disability. Such payments
               shall commence on or about the first day of the first month
               following the Participant's Retirement or Disability. The amount
               of each installment to be paid during the Calendar Year in which
               payment begins shall be equal to one-twelfth (1/12th) of (i) the
               total amount payable to the Participant as of his or her Plan
               Retirement Date, divided by (ii) the total number of installment
               payments to be made. Expected payments under the "Lifetime"
               option will be based on life expectancy under the 1980 CSO
               Mortality Table, but in no event less than 20 payments.

         (b)   As of January 1 of each subsequent Calendar Year during the
               benefit payment period, the amount of each installment to be paid
               during such Calendar Year for elections 2 and 3 above, shall be
               recalculated and shall be equal to:

               (i)  the remaining balance in the Participant's Accounts as of
                    January 1; divided by

               (ii) the number of installment payments to be made in or after
                    such subsequent Calendar Year.

         (c)   The final installment payment for elections 2 and 3 above shall
               be equal to the remaining amount payable to the Participant. In
               no event shall the amount of any installment payment exceed the
               remaining amount payable to the Participant.

         (d)   Notwithstanding the foregoing, the Corporation reserves the right
               to distribute a Participant's retirement benefit in one lump sum
               rather than in installments if the balance in the Participant's
               Accounts as of his Plan Retirement Date and/or as of January 1 of
               any subsequent Calendar Year during the benefit payment period,
               is less than $25,000.00.

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5.3      FIXED PAYMENT DATE BENEFIT FOR IN-SERVICE DISTRIBUTION PRIOR TO
         RETIREMENT.

         (a)   A Participant may select a fixed payment date for the payment of
               his or her vested Account. Payments made under this election will
               be payable in a lump sum. A Participant may extend a fixed
               payment date by written notice to the Plan Administrator,
               provided that the Participant gives such written notice at least
               one (1) year prior to the fixed payment date before such
               extension. Such fixed payment dates may not be accelerated.

         (b)   Any fixed payment date elected by a Participant as provided under
               Section 5.3(a) above must be no earlier than the January 1 of the
               third Calendar Year after the Calendar Year in which the election
               is made, or in which the Participant gives a written notice of
               extension.

5.4      DISABILITY RETIREMENT BENEFIT. The Participant shall be entitled to
         receive payments prior to his or her Plan Retirement Date if he or she
         is disabled. If the Participant's service as a Board Member is
         terminated due to Disability, the benefit payable hereunder shall be
         the same amount as would have been payable as a Retirement Benefit
         under Section 5.2 above had the Participant attained his or her Plan
         Retirement Date on the date of the Disability. If the total amount of
         benefits payable is less than $25,000.00 the Plan Administrator will be
         required to pay the benefit in a lump sum rather than in installments.

5.5      DEATH BENEFITS.

         (a)   DEATH BENEFIT PRIOR TO COMMENCEMENT OF BENEFITS. In the event of
               the Participant's death while in the service as a Board Member of
               the Corporation and prior to commencement of benefit payments,
               the Corporation shall pay a death benefit equal to the greater of
               either: (i) the Deferral Account as of the date of his or her
               death, or (ii) the amount, if any, the Corporation from time to
               time elects for such Participant in substantially the form
               attached hereto as Exhibit D. The death benefit payable under
               this Section shall be distributed to the Participant's
               Beneficiary in a lump sum on or about the first day of the fourth
               month following the Participant's death. The distribution shall
               be made in accordance with the last beneficiary designation
               received by the Plan Administrator from the Participant prior to
               his or her death. If no such designation has been received by the
               Corporation, such payments shall be made to the Participant's
               surviving legal spouse. If the Participant is not survived by a
               legal spouse, or if such spouse shall fail to so appoint, the
               said payments shall be made to the then living children of the
               Participant, if any, in equal shares. If there are no surviving
               children, the payments will be made to the estate of the later to
               die of the Participant and his or her legal spouse, if any.

         (b)   DEATH BENEFITS AFTER COMMENCEMENT OF RETIREMENT BENEFITS. In the
               event of the Participant's death after the commencement of
               benefit payments, but prior to the completion of such payments
               due and owing hereunder, the Corporation shall continue to make
               such payments in installments over the remainder of the period
               specified in Sections 5.2 or 5.3 hereof that would have been
               applicable to the Participant had he or she survived. Such
               continuing payments shall be made to the

                                       8
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               Participant's designated Beneficiary in accordance with the last
               such designation received by the Corporation from the Participant
               prior to his death. If no such designation has been received by
               the Corporation, such payments shall be made to the Participant's
               surviving legal spouse. If such spouse dies before receiving all
               payments to which he or she is entitled hereunder, then the
               balance of the Deferral Account shall be paid to the spouse's
               estate. If the Participant is not survived by a legal spouse,
               then the said payments shall be made to the then living children
               of the Participant, if any, in equal shares. If there are no
               surviving children, the balance of the Accounts shall be paid to
               the estate of the Participant.

5.6      TERMINATION OF BENEFITS.

         (a)   In the event of the Participant's termination of service as a
               Board Member with the Corporation for any reason other than for
               Cause, Disability, Retirement or death, the Corporation shall pay
               to the Participant a termination benefit based on the vested
               value of the Participant's Deferral Account. Such termination
               benefit shall be payable in a lump sum on or about the first day
               of the third month following the date of termination.

         (b)   In the event the Participant's service as a Board Member is
               terminated for Cause, Participant will be entitled to receive the
               value of the Participant's Annual Deferral(s), any cumulative
               earnings, gains, and changes in value thereof.

5.7      HARDSHIP DISTRIBUTION.

         (a)   HARDSHIP WITHDRAWAL. In the event that the Plan Administrator,
               under written request of a Participant, determines, in its sole
               discretion, that a Participant has suffered an unforeseeable
               financial emergency, the Corporation shall pay to the
               Participant, as soon as practicable following such determination,
               an amount necessary to meet the emergency (the "Hardship
               Withdrawal"), but not exceeding the vested balance of such
               Participant's Deferral Account as of the date of such payment.
               For purposes of Section 5.7(a), an "unforeseeable financial
               emergency" shall mean an event that the Plan Administrator
               determines to give rise to an unexpected need for cash arising
               from an illness, casualty loss, sudden financial reversal or
               other such unforeseeable occurrence. Amounts of Hardship
               Withdrawal may not exceed the amount the Plan Administrator
               reasonably determines to be necessary to meet such emergency
               needs (including taxes incurred by reason of a taxable
               distribution). The amount of the deferral benefit otherwise
               payable under the Plan to such Participant shall be adjusted to
               reflect the early payment of the Hardship Withdrawal.

         (b)   RULES ADOPTED BY PLAN ADMINISTRATOR. The Plan Administrator shall
               have the authority to adopt additional rules relating to Hardship
               Withdrawals. In administering these rules, the Plan Administrator
               shall act in accordance with the principle that the primary
               purpose of this Plan is to provide additional retirement income,
               not additional funds for current consumption.

         (c)   LIMIT ON NUMBER OF HARDSHIP WITHDRAWALS. No Participant may
               receive more than one Hardship Withdrawal in any Calendar Year.

                                       9
<PAGE>

         (d)   PROHIBITION OF FURTHER DEFERRALS. A Participant who receives a
               Hardship Withdrawal and who is still a member of the Board of
               Directors of the Corporation, shall be prohibited from making
               deferrals under Section 3.1 for the remainder of the Calendar
               Year in which the Hardship Withdrawal is made.

5.8      TERMINATION BASED ON CORPORATE PERFORMANCE. If the amount of the
         Corporation's net worth, as reported on any of its quarterly filed
         financial statements, at any time declines below $50,000,000.00, this
         Plan shall terminate and each Participant shall receive a termination
         benefit as provided for under Section 5.6 (a) above.

5.9      ADVERSE ACTION ON PARTICIPANT OR PLAN.

         (a)   Notwithstanding any other provision hereof, in the event there is
               a determination by the U.S. Internal Revenue Service ("IRS"), or
               in the event of a final determination by a court of competent
               jurisdiction, that amounts credited to Participants' Deferral
               Account hereunder are includable in the gross income of such
               Participants or their respective Beneficiaries, the Plan
               Administrator may, in its sole discretion, distribute the entire
               amount credited to the Participants Deferral Account to the
               Participant or their respective Beneficiaries and cause the
               termination of future deferrals of Compensation by the
               Participant.

         (b)   In the event that there is a determination by the U.S. Department
               of Labor, or a final determination of a court of competent
               jurisdiction, that the Plan is subject to Part 2, 3 or 4 of Title
               I of ERISA, the Plan Administrator may, in its sole discretion,
               distribute the entire amount credited to the Participants'
               Deferral Accounts to the Participants or their respective
               Beneficiaries and cause the termination of future deferrals of
               Compensation by the Participants.

5.10     BENEFITS NOT TRANSFERABLE. No Participant or Beneficiary under this
         Plan shall have any power or right to transfer, assign, anticipate,
         hypothecate or otherwise encumber all or any part of the amounts
         payable hereunder. No part of the amounts payable shall, prior to
         actual payment, be subject to seizure or sequestration for the payment
         of any debts, judgments, alimony or separate maintenance owed by a
         Participant or any other person, nor be transferable by operation of
         law in the event of a Participant's or any other person's bankruptcy or
         insolvency, or dissolution of marriage. Any such attempted assignment
         shall be void.

5.11     NO TRUST CREATED. Nothing contained in this Plan, and no action taken
         pursuant to its provisions by any person shall create, or be construed
         to create, a trust of any kind, or a fiduciary relationship between the
         Corporation and any other person.

5.12     UNCLAIMED BENEFITS. In the case of a benefit payable on behalf of a
         Participant, if the Plan Administrator is unable to locate the
         Participant or Beneficiary to whom such benefit is payable, such Plan
         benefit may be forfeited to the Corporation upon the Plan
         Administrator's determination. Notwithstanding the foregoing, if,
         subsequent to any such forfeiture, the Participant or Beneficiary to
         whom such Plan benefit is payable makes a valid claim for such Plan
         benefit, such forfeited Plan benefit shall be paid by the Plan
         Administrator to the Participant or Beneficiary, without interest on
         the Accounts from the date it would have otherwise been paid.

                                       10
<PAGE>

                                    ARTICLE 6

                            DISTRIBUTION OF BENEFITS

6.1      BENEFITS PAYABLE ONLY FROM GENERAL CORPORATE ASSETS: UNSECURED GENERAL
         CREDITOR STATUS OF PARTICIPANT.

         (a)   Payment to a Participant or any Beneficiary hereunder shall be
               made from assets which shall continue, for all purposes, to be
               part of the general, unrestricted assets of the Corporation; no
               person shall have any interest in any such asset by virtue of any
               provision of this Plan. The Corporation's obligation hereunder
               shall be an unfunded and unsecured promise to pay money in the
               future. To the extent that any person acquires a right to receive
               payments from the Corporation under the provisions hereof, such
               right shall be no greater than the right of any unsecured general
               creditor of the Corporation; no such person shall have or acquire
               any legal or equitable right, interest or claim in or to any
               property or assets of the Corporation.

         (b)   In the event that the Corporation elects to purchase an insurance
               policy or policies insuring the life of a Participant, to allow
               the Corporation to recover or meet the cost of providing benefits
               in whole or in part, hereunder, no Participant or Beneficiary
               shall have any rights whatsoever therein or in said policy or the
               proceeds therefrom. The Corporation shall be the sole owner and
               beneficiary of any such insurance policy or property and shall
               possess and may exercise all incidents of ownership therein.

6.2      FACILITY OF PAYMENT. If a distribution is to be made to a minor, or to
         a person who is otherwise incompetent, then the Plan Administrator may,
         in its discretion, make such distribution (i) to the legal guardian, or
         if none, to a parent of a minor payee with whom the payee maintains his
         or her residence, or (ii) to the conservator or committee or, if none,
         to the person having custody of an incompetent payee. Any such
         distribution shall fully discharge the Plan Administrator, the
         Corporation and Plan from further liability on account thereof.

6.4      WITHHOLDING. Any and all payments to be made to a Participant or a
         Participant's Beneficiaries pursuant to this Plan shall be subject to
         all applicable federal, state and local income taxes, if any, and such
         taxes may be withheld, accordingly, by the Corporation, from benefits
         under this Plan or from Compensation due to the Participant, as
         determined by the Plan Administrator.

                                    ARTICLE 7

                         BENEFICIARIES; PARTICIPANT DATA

7.1      BENEFICIARY DESIGNATION. The Participant shall have the right, at any
         time, to submit in substantially the form attached hereto as Exhibit C,
         a written designation of primary and secondary Beneficiaries to whom
         payment under this Plan shall be made in the event of his or her death
         prior to complete distribution of the benefits payable hereunder. Each

                                       11
<PAGE>

         beneficiary designation shall become effective only when receipt
         thereof is acknowledged in writing by the Corporation. The Corporation
         shall have the right, in its sole discretion, to reject any beneficiary
         designation that is not in substantially the form attached hereto as
         Exhibit C. Any attempt to designate a Beneficiary, otherwise than as
         provided in this Section 7.1, shall be ineffective.

7.2      SPOUSE'S INTEREST. A Participant's beneficiary designation shall be
         deemed automatically revoked if the Participant names a spouse as
         Beneficiary and the marriage is later dissolved or the spouse dies.
         Without limiting the generality of the foregoing, the interest in the
         benefits hereunder of a spouse of a Participant who has predeceased the
         Participant or whose marriage with the Participant has been dissolved
         shall automatically pass to the Participant and shall not be
         transferable by such spouse in any manner, including but not limited to
         such spouse's will, nor shall such interest pass under the laws of
         intestate succession.

                                    ARTICLE 8

                               PLAN ADMINISTRATION

8.1      RESPONSIBILITY OF ADMINISTRATION OF THE PLAN.

         (a)   The Plan Administrator shall be responsible for the management,
               operation and administration of the Plan. The Plan Administrator
               may employ others to render advice with regard to its
               responsibilities under this Plan. It may also allocate its
               responsibilities to others and may exercise any other powers
               necessary for the discharge of its duties. The Plan Administrator
               shall be entitled to rely conclusively upon all tables,
               valuations, certifications, opinions and reports furnished by any
               actuary, accountant, controller, counsel or other person employed
               or engaged by the Plan Administrator with respect to the Plan.

         (b)   The primary responsibility of the Plan Administrator is to
               administer the Plan for the benefit of the Participants and their
               respective Beneficiaries, subject to the specific terms of the
               Plan. The Plan Administrator shall administer the Plan in
               accordance with its terms and shall have the power to determine
               all questions arising in connection with the administration,
               interpretation, and application of the Plan. Any such
               determination shall be conclusive and binding upon all persons
               and their heirs, executors, beneficiaries, successors and
               assigns. The Plan Administrator shall have all powers necessary
               or appropriate to accomplish its duties under the Plan. The Plan
               Administrator shall also have the discretion and authority to
               make, amend, interpret, and enforce all appropriate rules and
               regulations for the administration of this Plan and decide or
               resolve any and all questions, including but not limited to,
               interpretations of this Plan and entitlement to or amount of
               benefits under this Plan, as may arise in connection with the
               Plan.

8.2      CLAIMS PROCEDURE.

         (a)   CLAIM. A person who believes that he or she is being denied a
               benefit to which he or she is entitled under the Plan
               (hereinafter referred to as a "Claimant") may file a written
               request for such benefit with the Plan Administrator, setting
               forth his

                                       12
<PAGE>

               or her claim. The request must be addressed to the Plan
               Administrator at its then principal place of business.
               Notwithstanding anything to the contrary, pending a determination
               under this Section 8.2, the undisputed portion of a benefit due
               to Claimant shall be timely distributed pursuant to the terms of
               the Plan.

         (b)   CLAIM DECISION. Upon receipt of a claim, the Plan Administrator
               shall advise the Claimant that a reply will be forthcoming within
               45 days. The Plan Administrator may, however, extend the reply
               period for an additional 30 days for reasonable cause. If the
               claim is denied in whole or in part, the Plan Administrator shall
               adopt a written opinion setting forth to the extent applicable:

               (i)   The specific reasons for such denial;

               (ii)  Specific reference to pertinent provisions of this Plan on
                     which such denial is based;

               (i)   A description of any additional material or information
                     necessary for the Claimant to perfect his or her claim and
                     an explanation why such material or such information is
                     necessary;

               (ii)  Appropriate information as to the steps to be taken if the
                     Claimant wishes to submit the claim for review, and

               (iii) The time limits for requesting a review under subsection
                     (c) hereof.

         (c)   REQUEST FOR REVIEW. Within 60 days after receipt by the Claimant
               of the written opinion described above, the Claimant may request
               in writing that the Corporation, through its Chief Executive
               Officer, review the Plan Administrator's determination. Such
               request must be addressed to the Plan Administrator of the
               Corporation at its then principal place of business. The Claimant
               or his or her duly authorized representative may, but need not,
               review the pertinent documents and submit issues and comments in
               writing for consideration by the Corporation. If the Claimant
               does not request a review of the determination within such 60 day
               period, he or she shall be barred and estopped from challenging
               the determination.

         (d)   REVIEW OF DECISION. Within 30 days after the Corporation's
               receipt of a request for review by a Claimant pursuant to 8.2 (c)
               above, the Corporation will review the Plan Administrator's
               determination. After considering all materials presented by the
               Claimant, the Corporation, through its Chief Executive Officer,
               will render a written opinion setting forth the specific reasons
               for the decision and containing specific references to the
               pertinent provisions of this Plan on which the decision is based.
               If special circumstances require that the 30 day time period be
               extended, the Corporation will so notify the Claimant and will
               render the decision as soon as possible, but in no event later
               than 60 days after receipt of the request for review.

8.3      ARBITRATION. Any claim or controversy between the parties which the
         parties are unable to resolve themselves, and which is not resolved
         through the claims procedure set forth in Section 8.2, including any
         claim arising out of, connected with, or related to the interpretation,
         performance or breach of any provision of this Plan, and any claim or
         dispute as to whether a claim is subject to arbitration, shall be
         submitted to and resolved

                                       13
<PAGE>

               exclusively by expedited arbitration by a single arbitrator in
               accordance with the following procedures:

               (a)  In the event of a claim or controversy subject to this
                    arbitration provision, the complaining party shall promptly
                    send written notice to the other party identifying the
                    matter in dispute and the proposed remedy. Following such
                    notice, the parties shall meet and attempt in good faith to
                    resolve the matter. In the event the parties are unable to
                    resolve the matter within 21 days, the parties shall meet
                    and attempt in good faith to select a single arbitrator
                    acceptable to both parties. If a single arbitrator is not
                    selected by mutual consent within 10 business days following
                    the expiration of the 21 day period, an arbitrator shall be
                    selected from a list of nine persons each of whom shall be
                    an attorney who is either engaged in the active practice of
                    law or a recognized arbitrator who is experienced in serving
                    as an arbitrator in such disputes, which list shall be
                    provided by the office of the American Arbitration
                    Association ("AAA") or of the Federal Mediation and
                    Conciliation Service. If, within three business days of the
                    parties' receipt of such list, the parties are unable to
                    agree upon an arbitrator from the list, then the parties
                    shall each strike names alternatively from the list, with
                    the first to strike being determined by the flip of a coin.
                    After each party has had four strikes, the remaining name on
                    the list shall be the arbitrator. If such person is unable
                    to serve for any reason, the parties shall repeat this
                    process until an arbitrator is selected.

               (b)  Unless the parties agree otherwise, within 60 days of the
                    selection of the arbitrator, a hearing shall be conducted
                    before such arbitrator at a time and a place agreed upon by
                    the parties. In the event the parties are unable to agree
                    upon the time or place of the arbitration, the time and
                    place shall be designated by the arbitrator after
                    consultation with the parties. Within 30 days of the
                    conclusion of the arbitration hearing, the arbitrator shall
                    issue an award, accompanied by a written decision explaining
                    the basis for the arbitrator's award. The arbitrator's award
                    may not include a provision for punitive damages.

               (c)  In any arbitration hereunder, the Corporation shall pay all
                    administrative fees of the arbitration, all fees of the
                    arbitrator and each party's reasonable attorneys' fees,
                    costs, and expenses. The arbitrator shall have no authority
                    to add to or to modify the Plan, shall apply all applicable
                    law, and shall have no lesser and no greater remedial
                    authority than would a court of law resolving the same claim
                    or controversy. The arbitrator shall, upon an appropriate
                    motion, dismiss any claim without an evidentiary hearing if
                    the party bringing the motion establishes that it would be
                    entitled to summary judgment if the matter had been pursued
                    in court litigation. The parties shall be entitled to
                    reasonable discovery subject to the discretion of the
                    arbitrator.

               (d)  The decision of the arbitrator shall be final, binding, and
                    non-appealable, and may be enforced as a final judgment in
                    any court of competent jurisdiction.

               (e)  This Section 8.3 shall extend to claims against any officer,
                    director, shareholder, Participant, Beneficiary, or agent of
                    each party, or of any of the above, and shall

                                       14
<PAGE>

               apply as well to claims arising out of state and federal statutes
               and local ordinances as well as to claims arising under the
               common law or under this Plan.

               (f)  Notwithstanding the foregoing, and unless otherwise agreed
                    between the parties, either party may, in an appropriate
                    manner, apply to a court for provisional relief, including a
                    temporary restraining order or preliminary injunction, on
                    the ground that the arbitration award to which the applicant
                    may be entitled may be rendered ineffectual without
                    provisional relief.

               (g)  Any arbitration hereunder shall be conducted in accordance
                    with the rules and procedures of the AAA then in effect;
                    provided, however, that, (i) all evidence presented to the
                    arbitrator shall be in strict conformity with the legal
                    rules of evidence, and (ii) in the event of any
                    inconsistency between the board member benefit plan claims
                    rules and procedures of the AAA and the terms of this Plan,
                    the terms of this Plan shall prevail.

               (h)  If any of the provisions of this Section 8.3 are determined
                    to be unlawful or otherwise unenforceable, in whole or in
                    part, such determination shall not affect the validity of
                    the remainder of this Section 8.3, and this Section 8.3
                    shall be reformed to the extent necessary to carry out its
                    provisions to the greatest extent possible and to insure
                    that the resolution of all conflicts between the parties,
                    including those arising out of statutory claims, shall be
                    resolved by neutral, binding arbitration. If a court should
                    find that the provisions of this Section 8.3 are not
                    absolutely binding, then the parties intend any arbitration
                    decision and award to be fully admissible in evidence in any
                    subsequent action, given great weight by any finder of fact,
                    and treated as determinative to the maximum extent permitted
                    by law.

8.4      NOTICE. Any notice, consent or demand required or permitted to be given
         under the provisions of this Plan shall be in writing and shall be
         signed by the party giving or making the same. If such notice, consent
         or demand is mailed, it shall be sent by United States certified mail,
         postage prepaid, return receipt requested, addressed to the addressee's
         last known address as shown on the records of the Corporation. The date
         of receipt, or the date of refusal by addressee upon presentation,
         shall be deemed the date of such notice, consent or demand. Any person
         may change the address to which notice is to be sent by giving written
         notice of the change of address in the manner aforesaid.

                                    ARTICLE 9

                            AMENDMENT OR TERMINATION

9.1      AMENDMENT OR TERMINATION.

         (a)   This Plan may be amended or terminated by the Corporation at any
               time, without notice to or consent of any person, pursuant to
               resolutions adopted by its Board of Directors. Any such amendment
               or termination shall take effect as of the date specified therein
               and, to the extent permitted by law. However, no such amendment
               or termination shall reduce the amount then credited to a
               Participant's

                                       15
<PAGE>

               Deferral Account. If the Plan is terminated, benefits will be
               distributed in one lump sum.

         (b)   Any other provision of this Plan to the contrary notwithstanding,
               the Plan may be amended by the Corporation at any time, to the
               extent that, in the opinion of the Corporation, such amendment
               shall be necessary in order to ensure that the Plan will be
               characterized as a plan maintained for a select group of
               management or highly compensated employees, as described in
               sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, or to conform
               the Plan to the requirements of any applicable law, including
               ERISA and the Code. No such amendment shall be considered
               prejudicial to any interest of a Participant or Beneficiary
               hereunder.

                                   ARTICLE 10

                                  MISCELLANEOUS

10.1     ENTIRE AGREEMENT. The Plan and the executed Election Forms, Deemed
         Investment Election Form, and Beneficiary Designation Form, and other
         administrative forms shall constitute the total understanding between
         the Corporation and the Participant. No oral statement regarding the
         Plan may be relied upon by the Participant. In the event that there is
         a discrepancy between forms, this Plan will control.

10.2     INVALIDITY OF PROVISIONS. If any provision of this Plan shall, for any
         reason, be held to be invalid or unenforceable, the remaining
         provisions shall nevertheless be carried into effect.

10.3     GOVERNING LAW. The Plan and the rights and obligations of all persons
         hereunder shall be governed by and construed in accordance with the
         laws of the State of Illinois, other than its laws regarding choice of
         law, to the extent that such state law is not preempted by federal law.

     IN WITNESS WHEREOF, the Corporation has executed this Plan as of the day
and year above first written.

ATTEST:                                       PCTEL, INC.

                                              By:  ____________________________
____________________, Secretary               Title: Chief Executive Officer

                                       16
<PAGE>

                                   PCTEL, INC.
                  BOARD OF DIRECTORS DEFERRED COMPENSATION PLAN

                             PARTICIPATION AGREEMENT

                                  ELECTION FORM

                                    EXHIBIT A

         THIS PARTICIPATION AGREEMENT is entered into this ____day of
___________, 20___ between PCTEL, INC., hereinafter referred to as the
"Corporation", and _______________________, hereinafter referred to as the
"Participant".

PART I.  ELECTION TO DEFER

         (Please check all that apply)

         I understand and acknowledge that this Election of Deferral will be
effective for the following Plan Year. If I wish to change my deferral election
in subsequent Plan Year(s), I realize that I must deliver a new Election Form to
the Plan Administrator of the Corporation at least 10 days prior to the
beginning of the Plan Year for which the deferral is sought. If I fail to timely
make an election, I shall be deemed to have made the same election as is then
currently in effect.

    [ ]  I WILL participate in the Corporation's Board of Directors Deferred
         Compensation Plan for the forthcoming Plan Year and duly authorize the
         Corporation to make the appropriate withdrawals from my Compensation.

         I hereby elect to defer receipt of board fees and committee fees for
         the forthcoming Plan Year as set forth below:

    [ ]  ____% or $________ of my board fees to be withdrawn from my
         Compensation for each board meeting during the Plan Year.

    [ ]  ____% or $________ of my Committee Fees to be withdrawn from my
         Compensation for each Committee Fee during the Plan Year.

    OR;

    [ ]  I will NOT participate in the Corporation's Board of Directors Deferred
         Compensation Plan for the forthcoming Plan Year.

         NOTE:  THIS ELECTION IS IRREVOCABLE FOR THE FORTHCOMING PLAN YEAR.

<PAGE>
PART II. DISTRIBUTION OF BENEFITS ELECTION (ARTICLE 5 OF THE PLAN):

    Please select A (and the choices under A) or B.

    [ ]  A.    RETIREMENT BENEFITS. I hereby elect to have my Retirement or
               Disability benefits distributed to me in the following manner:

         Distribution to be paid (check one):

         [ ]  Lump Sum
         [ ]  Annually over 15 years
         [ ]  Lifetime of the Participant with 20 annual payments guaranteed

    NOTE: THIS ELECTION MAY BE CHANGED BY THE PARTICIPANT BY GIVING WRITTEN
    NOTICE TO THE CORPORATION NOT LATER THAN ONE YEAR BEFORE RETIREMENT, OR
    PROMPTLY FOLLOWING A DISABILITY. BY THE TERMS OF THE PLAN, THE RETIREMENT
    AGE IS AGE 55 OR LATER.

    [ ]  B.    FIXED PAYMENT DATE BENEFITS. This Section applies if you wish to
               elect an in-service distribution prior to retirement age. All
               distributions under this section are made in a lump sum. I hereby
               elect to have my fixed payment date benefits distributed to me at
               the following date:

               Date for fixed payments to commence_____________________________
               (This date may be no earlier than the January 1 of the third
               Calendar Year after the Calendar Year in which this election is
               made.

    NOTE: THIS ELECTION MAY BE CHANGED TO EXTEND THE FIXED PAYMENT DATE TO A
    LATER DATE SO LONG AS (a) THE ELECTION TO SO EXTEND THE DATE IS AT LEAST ONE
    YEAR BEFORE THE ORIGINAL DATE, AND (b) THE EXTENDED DATE IS NO EARLIER THAN
    JANUARY 1 OF THE THIRD CALENDAR YEAR AFTER ISSUING THE ELECTION TO EXTEND.
    SUCH DATES MAY NOT BE ACCELERATED.

PCTEL, INC.                                PARTICIPANT

____________________________________       ____________________________________
                                           Signature

                                       2
<PAGE>
                                   PCTEL, INC.
                  BOARD OF DIRECTORS DEFERRED COMPENSATION PLAN

                        ---DEEMED INVESTMENT ELECTIONS---

                                    EXHIBIT B

         THIS ELECTION is submitted by ____________________ ("Participant") to
PCTEL, Inc. this _____ day of ________, 20___.

DEEMED INVESTMENT ELECTIONS:

I elect to have my Deferral Account credited with a rate of return based on the
following Deemed Investment Elections. These Deemed Investment Elections shall
supersede any prior elections that I have made and shall continue until such
time as I make a new Deemed Investment Election in accordance with the terms of
the Plan. I acknowledge that Deemed Investment Elections may be changed by a
Participant not more than once a month and each investment option must have at
least a 10% allocation of the Participant's deferral. (I further acknowledge
that materials and a prospectus have been made available to me containing
detailed explanations of Deemed Investment options.)

<Table>
<Caption>
            DEEMED INVESTMENT OPTIONS     %                 DEEMED INVESTMENT OPTIONS                   %
<S>                                       <C>         <C>                                               <C>
Money Market                                          Fidelity VIP Mid Cap SC2
Mortgage Securities                                   Index 400 Mid-Cap
Bond                                                  Small Company Value
Global Bond                                           Capital Appreciation
Asset Allocation                                      Janus Aspen International Growth Fund CL2
Real Estate Securities                                International Stock
Macro Cap Value                                       Small Company Growth
Fidelity VIP Equity-Income SC2                        Franklin Small Cap Fund CL2
Value Stock                                           Micro Cap Growth
Templeton Asset Strategy Fund CL2                     Janus Aspen Cap Appreciation - Srv Sh
Index 500                                             CSWP Global Post Venture Cap
Fidelity VIP Contrafund SC2                           Templeton Developing Markets Fund CL2
Growth
</Table>

                                             PARTICIPANT

                                             ___________________________________
                                             Signature

<PAGE>
                                   PCTEL, INC.
                  BOARD OF DIRECTORS DEFERRED COMPENSATION PLAN

                           DESIGNATION OF BENEFICIARY

                                    EXHIBIT C

         TO:  PCTEL, INC. (hereinafter referred to as the "Corporation"),

In accordance with the rights granted to me as a Participant in the PCTEL, Inc.
Board of Directors Deferred Compensation Plan, I hereby designate the following
as primary and 1st contingent Beneficiary(ies) thereunder to receive payments in
the event of my death:

         PRIMARY Beneficiary: _________________________________________________

         Relationship: ___________________________________

         1ST CONTINGENT Beneficiary: __________________________________________

         Relationship: ___________________________________

I further reserve the privilege of changing the Beneficiary(ies) herein named at
any time or times without the consent of any such Beneficiary(ies).

         This designation is made upon the following terms and conditions:

1.       The word "Beneficiary" as used herein shall include the plural,
         Beneficiaries, wherever the Plan permits.

2.       For purposes of this Beneficiary Designation, no person shall be deemed
         to have survived the Participant if that person dies within thirty (30)
         days of the Participant's death.

3.       Beneficiary shall mean the Primary Beneficiary if such Primary
         Beneficiary survives the Participant by at least thirty (30) days, and
         shall mean the 1st Contingent Beneficiary if the Primary Beneficiary
         does not survive the Participant by at least thirty (30) days.

4.       If the Primary Beneficiary shall be deceased on any annual payment date
         provided in said Plan, any and all remaining annual payments shall be
         payable to the 1st Contingent Beneficiary unless the executors or
         administrators of said deceased Beneficiary are named as Primary
         Beneficiary hereinabove.

5.       If more than one Beneficiary is named within the same class (i.e.,
         Primary or 1st Contingent), then annual payments shall be made equally
         to such Beneficiaries unless otherwise provided hereinabove. If any
         such Beneficiary dies while receiving annual payments under said
         Agreement, any and all remaining payments shall continue to be made to
         the surviving Beneficiaries of such class and to the legal heirs of the
         deceased Beneficiary, which legal heirs shall receive the amount that
         was being received by said deceased Beneficiary. If all of the
         Beneficiaries of a class shall die, any and all remaining payments
         shall be made to the next class of Beneficiaries, as provided under
         Paragraph 4 above.

6.       If none of the Beneficiaries named hereinabove are living on any said
         annual payment date, any and all remaining payments shall be made to my
         executors or administrators, or upon their written request, to any
         person or persons so designated by them.

7.       If any such annual payments shall be payable to any trust, the
         Corporation shall not be liable to see to the application by the
         Trustee of any payment hereunder at any time, and may rely upon the
         sole signature of the Trustee to any receipt, release or waiver, or to
         any transfer or other instrument to whomsoever made purporting to
         affect this nomination or any right hereunder.

8.       A Participant's Beneficiary designation shall be deemed automatically
         revoked if the Participant names a spouse as Beneficiary and the
         marriage is later dissolved or the spouse dies. Without limiting the

<PAGE>

         generality of the foregoing, the interest in the benefits hereunder of
         a spouse of a Participant who has predeceased the Participant or whose
         marriage with the Participant has been dissolved shall automatically
         pass to the Participant and shall not be transferable by such spouse in
         any manner, including but not limited to such spouse's will, nor shall
         such interest pass under the laws of intestate succession.

THIS DESIGNATION CANCELS AND SUPERSEDES ANY DESIGNATION OF BENEFICIARY
HERETOFORE MADE BY ME WITH RESPECT TO SAID PLAN AND THE RIGHT TO RECEIVE
PAYMENTS THEREUNDER.

    Dated: ___________________   Participant/Board Member: ____________________

I am the spouse of the Participant/Board Member named above. I have read and
understood the foregoing Designation of Beneficiary, and especially paragraph 8
thereof. I understand that the Plan does not permit the assignment of the
Participant/Board Member's benefits to me in the event of the dissolution of my
marriage. I also understand that, even if I am named as a Beneficiary, my rights
may be impaired in the event of the dissolution of my marriage or my death
before the Participant/Board Member.

Dated: _____________________              _____________________________________
                                          Spouse

Acknowledgment of receipt this __day of ___________, 20__  By:_________________

                                       2
<PAGE>
                                   PCTEL, INC.
                  BOARD OF DIRECTORS DEFERRED COMPENSATION PLAN

                                  DEATH BENEFIT

                                    EXHIBIT D

         Section 5.5(a) of the PCTEL, Inc. Board of Directors Deferred
Compensation Plan provides that the death benefit attributable to a
Participant's Deferral Account shall equal the Participant's Deferral Account or
the amount stated in this Exhibit D, whichever is greater.

         The death benefit for _______________________________________________
                                            (Name of Participant )
is $_______________________.

         This Exhibit D supersedes and replaces all prior Exhibit's D executed
by PCTEL, Inc. with respect to the above named Participant.

         Dated this __________ day of __________________________, 20______.

                                             PCTEL, Inc.

                                             By:  _____________________________

                                             Its: _____________________________

<PAGE>
                      DEEMED INVESTMENT OPTION CHANGE FORM
                                     FOR THE
                                   PCTEL, INC.
                  BOARD OF DIRECTORS DEFERRED COMPENSATION PLAN

                                    EXHIBIT E

____________________________                      _____________________________
Participant's Name                                Social Security Number

I hereby request that my existing account balances and future contributions be
allocated as follows: (Minimum allocation is 10% - total must equal 100%).

If no change is desired in your current account, do NOT complete Column A.
Complete both Columns A and B, if you want your existing balances and future
contributions changed.

<Table>
<Caption>
                                                   COLUMN A               COLUMN B
                                                   --------               --------
                                                Change Existing        Future Payroll
                                                Account Balances     Contributions Only
DEEMED INVESTMENT OPTIONS

<S>                                             <C>                  <C>
Money Market                                       __________%          __________%
Mortgage Securities                                __________%          __________%
Bond                                               __________%          __________%
Global Bond                                        __________%          __________%
Asset Allocation                                   __________%          __________%
Real Estate Securities                             __________%          __________%
Macro Cap Value                                    __________%          __________%
Fidelity VIP Equity-Income SC2                     __________%          __________%
Value Stock                                        __________%          __________%
Templeton Asset Strategy Fund CL2                  __________%          __________%
Index 500                                          __________%          __________%
Fidelity VIP Contrafund SC2                        __________%          __________%
Growth                                             __________%          __________%
Fidelity VIP Mid Cap SC2                           __________%          __________%
Index 400 Mid-Cap                                  __________%          __________%
Small Company Value                                __________%          __________%
Capital Appreciation                               __________%          __________%
Janus Aspen International Growth Fund CL2          __________%          __________%
International Stock                                __________%          __________%
Small Company Growth                               __________%          __________%
Franklin Small Cap Fund CL2                        __________%          __________%
Micro Cap Growth                                   __________%          __________%
Janus Aspen Cap Appreciation - Srv Sh              __________%          __________%
CSWP Global Post Venture Cap                       __________%          __________%
Templeton Developing Markets Fund CL2              __________%          __________%

TOTAL MUST EQUAL 100% FOR EACH COLUMN USED                100%                 100%
</Table>

<PAGE>
IMPORTANT: The Participant acknowledges that he/she has received information
regarding each of the above Deemed Investment Options, including a copy of the
prospectus. The Participant further acknowledges that the Plan Administrator has
discretion as to whether his/her deferrals are actually invested in the funds
selected above; the Corporation is not obligated to acquire or hold any of the
investments selected above.

AGREED AND ACCEPTED BY THE PARTICIPANT

________________________________________               ________________________
Signature of Participant                               Date

AGREED AND ACCEPTED BY THE CORPORATION

________________________________________               ________________________
Signature of Corporation Officer                       Date

                                       2

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