Document:

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                          JATO COMMUNICATIONS CORP.

                         AMENDED EMPLOYMENT AGREEMENT

                                     FOR

                              GERALD K. DINSMORE

     THIS AMENDED EMPLOYMENT AGREEMENT ("AGREEMENT") is entered into as of
the 16th day of November, 1999 (the "EFFECTIVE DATE"), by and between GERALD
K. DINSMORE ("EXECUTIVE") and JATO COMMUNICATIONS CORP., a Delaware
corporation (the "COMPANY").

     WHEREAS, the Company employed Executive as its President and Chief
Operating Officer under an Employment Agreement dated as of August 31, 1999;
and

     WHEREAS, Executive and the Company have agreed that Executive shall
assume the responsibilities as Chief Executive Officer commencing November
16, 1999; and

     WHEREAS, Executive wishes to be employed by the Company and provide
personal services to the Company in return for certain compensation and
benefits;

     NOW, THEREFORE, in consideration of the mutual promises and covenants
contained herein, it is hereby agreed by and between the parties hereto as
follows:

1.   EMPLOYMENT BY THE COMPANY.

     1.1  TERM.  Subject to terms set forth herein, for a period of two (2)
years  commencing on the Effective Date, the Company agrees to employ
Executive in the position of President and Chief Executive Officer and
Executive hereby accepts such employment as of the Effective Date.  Executive
shall continue to serve as a member of the Company's Board of Directors.  At
the end of the initial two-year term, this Agreement shall automatically
renew on a month-to-month basis unless either party gives thirty (30) days'
prior written notice to the other party.  During the term of his employment
with the Company, Executive will devote his best efforts and substantially
all of his business time and attention (except for vacation periods and
reasonable periods of illness or other incapacities permitted by the
Company's general employment policies) to the business of the Company.

     1.2  DUTIES.  Executive shall serve in an executive capacity and shall
perform such duties as are customarily associated with his then existing
title(s), consistent with the Bylaws of the Company and as required by the
Company's Board of Directors (the "BOARD").

     1.3  EMPLOYMENT RELATIONSHIP.  The employment relationship between the
parties shall also be governed by the general employment policies and
practices of the Company, including those relating to protection of
confidential information and assignment of inventions, except that when the
terms of this Agreement differ from or are in conflict with the Company's
general employment policies or practices, this Agreement shall control.

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2.   COMPENSATION.

     2.1  SALARY.  Executive shall receive for services to be rendered
hereunder an annualized base salary of $300,000, commencing December 3, 1999,
payable on a semi-monthly basis, which will be reviewed annually at the
discretion of the Compensation Committee of the Board of Directors.
Executive's base salary shall be increased annually by an amount determined
by the Board of Directors.

     2.2  BONUS.  Executive will be eligible for a discretionary bonus of up
to 100% of his base salary, in an amount to be determined solely by the
Compensation Committee in its discretion, upon achieving targets established
by the Board subject to the terms and conditions outlined in a Company bonus
plan, which may be established and in effect from time to time.  In addition,
subject to Executive not terminating his employment with Jato, principal and
interest on the Promissory Note dated this date will be forgiven in two
installments of equal amount; the first installment upon the first
anniversary of Executive's start date.  Upon each such installment Jato will
pay Executive a payment of $80,000 to cover taxes associated with note
forgiveness.  All principal and interest related to the Promissory Note will
be forgiven and both tax-related payment will be paid upon the occurrence of
an Acceleration Event as defined above.

     2.3  STOCK RIGHTS.  Concurrently with the execution of this Agreement,
Executive will be granted an option to purchase 800,000 shares of Common
Stock of the Company on the terms set forth in the Stock Option Grant Notice
attached hereto as EXHIBIT A (the "GRANT NOTICE").  Executive agrees to be
bound by the terms of the Stockholders' Agreement dated April 16, 1999,
attached hereto as EXHIBIT B with respect to any shares acquired upon
exercise of such option.

     2.4  RELOCATION/COMMUTING EXPENSES.  Jato will provide the following to
support the expenses of Executive's relocation/commuting to Denver from
Dallas (i) reimbursement of all out-of-pocket expenses associated with travel
between Denver and Dallas for up to six months including up to 3 trips for
family members; (ii) reimbursement of temporary housing expense for up to six
months; (iii) reimbursement of closing costs, moving expenses, furnishings,
and related expenses up to an aggregate maximum of $100,000; and (iv)
reimbursement of travel expenses for up to two trips to and from Dallas each
month.

     2.5  FUTURE OPTION GRANTS.  Executive will be eligible to be granted
options to purchase Common Stock of the Company commencing on the first
anniversary of his employment, at times and in amounts to be determined in
the sole discretion of the Compensation Committee of the Board.

     2.6  STANDARD COMPANY BENEFITS.  Executive shall be entitled to all
rights and benefits for which he is eligible under the terms and conditions
of the standard Company benefits and compensation practices which may be in
effect from time to time and provided by the Company to its employees in
comparable positions.

3.   PROPRIETARY INFORMATION OBLIGATIONS.

     3.1  AGREEMENT.  Executive agrees to be bound by the terms of the
executed Non-competition, Proprietary Information and Inventions Agreement
attached hereto as EXHIBIT C.

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     3.2  REMEDIES.  Executive's duties under the Proprietary Information and
Inventions Agreement shall survive termination of his employment with the
Company.  Executive acknowledges that a remedy at law for any breach or
threatened breach by him of the provisions of the Non-competition Proprietary
Information and Inventions Agreement would be inadequate, and he therefore
agrees that the Company shall be entitled to injunctive relief in case of any
such breach or threatened breach.

4.   OUTSIDE ACTIVITIES.  Except with the prior written consent of the
Company's Board, Executive will not, during the term of this Agreement,
undertake or engage in any other employment, occupation or business
enterprise, other than those in which Executive is a passive investor.
Executive may engage in civic and not-for-profit activities so long as such
activities do not materially interfere with the performance of his duties
hereunder.

5.   TERMINATION OF EMPLOYMENT.

     (a)  Either the Executive or the Company may terminate the employment
relationship at any time for any reason whatsoever, with thirty (30) days'
prior written notice by the Company and with thirty (30) days' prior written
notice by the Executive with or without Cause (as defined below) or advance
notice.  This at-will employment relationship cannot be changed except in a
writing approved by the Board.  If the Company terminates Executive's
employment without Cause at any time, Executive will receive as severance:
(i) twelve (12) months of base salary, less payroll deductions and required
withholdings, payable in accordance with the standard pay schedule of the
Company, and (ii) a lump sum payment of that portion of the bonus Executive
is entitled to for the calendar year pro-rated based upon the number of full
months Executive was employed during such year in exchange for the execution
of a release of all claims against the Company.  If Executive resigns or if
Executive's employment is terminated for cause, all compensation and benefits
will cease immediately, and Executive will receive no severance benefits.

For purpose of this Agreement, "CAUSE" shall mean misconduct, including:  (i)
conviction of any felony or any crime involving moral turpitude or
dishonesty; (ii) participation in a fraud or act of dishonesty against the
Company; (iii) willful breach of the Company's policies; (iv) intentional
damage to the Company's property; (v) material breach of this Agreement or
Executive's Proprietary Information and Inventions Agreement; (vi) a failure
or refusal in a material respect of Executive to follow the reasonable
policies or directions of the Company as specified by the Board of Directors
after being provided with notice of such failure and an opportunity to cure;
or (vii) failure to carry out the duties of the Executive's position after
being provided with notice of such failure and an opportunity to cure within
seven (7) days of receipt of such notice.  Physical or mental disability
shall not constitute "Cause."

     (b)  In the event of death, the Company shall pay to Executive any
earned but unpaid salary at the time of death and, at the time such amount
would otherwise have been due, a pro rata portion of a discretionary bonus,
if any, which may otherwise have been paid to Executive pursuant to Section
2.3 hereof with respect to the annual period in which the death occurs.
Furthermore, Executive shall vest in 50% of any unvested stock options as of
the date of death and the Company shall waive its repurchase rights with
respect to 50% of any unvested shares as

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of the date of death; PROVIDED, HOWEVER, that Executive's estate,
administrator or distributor shall become a party to, and be subject to the
provisions of, the Stockholders' Agreement.

6.   GENERAL PROVISIONS.

     6.1  NOTICES.  Any notices provided hereunder must be in writing and
shall be deemed effective upon the earlier of personal delivery (including
personal delivery by telex) or the third day after mailing by first class
mail, to the Company at its primary office location and to Executive at his
address as listed on the Company's then current payroll records.

     6.2  SEVERABILITY.  Whenever possible, each provision of this Agreement
will be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Agreement is held to be invalid,
illegal or unenforceable in any respect under any applicable law or rule in
any jurisdiction, such invalidity, illegality or unenforceability will not
affect any other provision or any other jurisdiction, but this Agreement will
be reformed, construed and enforced in such jurisdiction as if such invalid,
illegal or unenforceable provisions had never been contained herein.

     6.3  WAIVER.  If either party should waive any breach of any provisions
of this Agreement, he or it shall not thereby be deemed to have waived any
preceding or succeeding breach of the same or any other provision of this
Agreement.

     6.4  COMPLETE AGREEMENT.  This Agreement and exhibits hereto constitute
the entire agreement between Executive and the Company and it is the
complete, final, and exclusive embodiment of their agreement with regard to
this subject matter.  It is entered into without reliance on any promise or
representation other than those expressly contained herein, and it cannot be
modified or amended except in a writing signed by an officer of the Company.

     6.5  COUNTERPARTS.  This Agreement may be executed in separate
counterparts, any one of which need not contain signatures of more than one
party, but all of which taken together will constitute one and the same
Agreement.

     6.6  HEADINGS.  The headings of the sections hereof are inserted for
convenience only and shall not be deemed to constitute a part hereof nor to
affect the meaning thereof.

     6.7  SUCCESSORS AND ASSIGNS.  This Agreement is intended to bind and
inure to the benefit of and be enforceable by Executive and the Company, and
their respective successors, assigns, heirs, executors and administrators,
except that Executive may not assign any of his duties hereunder and he may
not assign any of his rights hereunder without the written consent of the
Company, which shall not be withheld unreasonably.

     6.8  ATTORNEY FEES.  If either party hereto brings any action to enforce
his or its rights hereunder, the prevailing party in any such action shall be
entitled to recover his or its reasonable attorneys' fees and costs incurred
in connection with such action.

     6.9  CHOICE OF LAW.  All questions concerning the construction, validity
and interpretation of this Agreement will be governed by the law of the State
of Colorado.

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     6.10 SURVIVAL.  The following provisions of this Agreement shall survive
the termination of Executive's employment and the assignment of this
Agreement by the Company to any successor in interest or other assignee:
Section 2 and Section 5.

                    [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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     IN WITNESS WHEREOF, the parties have executed this Agreement on the day
and year first above written.

                                   JATO COMMUNICATIONS CORP.

                                   By:  /s/ William D. Myers
                                      ---------------------------------------
                                        William D. Myers
                                        Vice President, Finance and Chief
                                        Financial Officer

                                   By:  /s/ Gerald K. Dinsmore
                                      ---------------------------------------
                                        Gerald K. Dinsmore

                                       6
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                                  EXHIBIT A

                          STOCK OPTION GRANT NOTICE

                          JATO COMMUNICATIONS CORP.
                          STOCK OPTION GRANT NOTICE
                         (1998 EQUITY INCENTIVE PLAN)

JATO COMMUNICATIONS CORP. (the "Company"), pursuant to its 1998 Equity
Incentive Plan (the "Plan"), hereby grants to Optionee an option to purchase
the number of shares of the Company's common stock set forth below.  This
option is subject to all of the terms and conditions as set forth herein and
in Attachments I, II, and III, which are incorporated herein in their
entirety.

Optionee:                               Gerald K. Dinsmore
Date of Grant:                          December 3, 1999
Vesting Commencement Date:              December 3, 1999
Shares Subject to Option:               800,000
Exercise Price Per Share:               $2.57
Expiration Date:                        December 2, 2009
                                   /X/  Nonstatutory Stock Option
                                   /X/  Early Exercise Permitted

VESTING SCHEDULE:             25% vested on the one year anniversary of the
                              Vesting Commencement Date; 1/48th vests on each
                              monthly anniversary thereafter.

PAYMENT:  Any combination of the following:  by cash or check

ADDITIONAL TERMS/ACKNOWLEDGEMENTS:  The undersigned Optionee acknowledges
receipt of, and understands and agrees to, this Grant Notice, the Stock
Option Agreement and the Plan.  Optionee further acknowledges that as of the
Date of Grant, this Grant Notice, the Stock Option Agreement and the Plan set
forth the entire understanding between Optionee and the Company regarding the
acquisition of stock in the Company and supersede all prior oral and written
agreements on that subject with the exception of (i) options previously
granted and delivered to Optionee under the Plan, and (ii) the following
agreements only:

     OTHER AGREEMENTS:
                                       ---------------------------------------

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

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

JATO COMMUNICATIONS CORP.                    OPTIONEE:

By:
   ----------------------------------        ---------------------------------
                                             Signature

Title:
      -------------------------------

Date:
     --------------------------------        ---------------------------------
                                             Date

Attachment I:       Stock Option Agreement

                                      A-1
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Attachment II:      1998 Equity Incentive Plan
Attachment III:     Notice of Exercise

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                          JATO COMMUNICATIONS CORP.
                            STOCK OPTION AGREEMENT

     Pursuant to the Grant Notice and this Stock Option Agreement, JATO
Communications Corp. (the "Company") has granted you an option to purchase
the number of shares of the Company's common stock ("Common Stock") indicated
in the Grant Notice at the exercise price indicated in the Grant Notice.

     Your option is granted in connection with and in furtherance of the
Company's compensatory benefit plan for the Company's employees (including
officers), directors or consultants, and is intended to comply with the
provisions of Rule 701 promulgated by the Securities and Exchange Commission
under the Securities Act of 1933, as amended (the "Securities Act").  Defined
terms not explicitly defined in this Stock Option Agreement but defined in
the 1998 Equity Incentive Plan (the "Plan") shall have the same definitions
as in the Plan.

     The details of your option are as follows:

     1.   VESTING.  Subject to the limitations contained herein, your option
will vest as provided in the Grant Notice, provided that vesting will cease
upon the termination of your Continuous Service.

     2.   METHOD OF PAYMENT.  Payment of the exercise price by cash or check
is due in full upon exercise of all or any part of your option, provided that
you may elect, to the extent permitted by applicable law and the Grant
Notice, to make payment of the exercise price under one of the following
alternatives:

          (a)  Payment pursuant to a program developed under Regulation T as
promulgated by the Federal Reserve Board which, prior to the issuance of
Common Stock, results in either the receipt of cash (or check) by the Company
or the receipt of irrevocable instructions to pay the aggregate exercise
price to the Company from the sales proceeds; and

          (b)  Provided that at the time of exercise the Company's Common
Stock is publicly traded and quoted regularly in the Wall Street Journal,
payment by delivery of already-owned shares of Common Stock, held for the
period required to avoid a charge to the Company's reported earnings, and
owned free and clear of any liens, claims, encumbrances or security
interests, which Common Stock shall be valued at its fair market value on the
date of exercise.

     3.   EXERCISE PRIOR TO VESTING.  If permitted in the Grant Notice, and
subject to the provisions of your option contained herein, you may elect, at
any time that is BOTH (i) during your Continuous Service and (ii) during your
option's term, to exercise all or part of your option, including the
nonvested portion of your option; PROVIDED, HOWEVER, that:

          (a)  a partial exercise of your option shall be deemed to cover
first vested shares and then the earliest vesting installment of unvested
shares;

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          (b)  any shares so purchased from installments which have not
vested as of the date of exercise shall be subject to the purchase option in
favor of the Company as described in the Company's form of Early Exercise
Stock Purchase Agreement;

          (c)  you shall enter into the Company's form of Early Exercise
Stock Purchase Agreement with a vesting schedule that will result in the same
vesting as if no early exercise had occurred; and

          (d)  your option shall not be exercisable with respect to any
unvested installment to the extent such exercise would cause the aggregate
fair market value of any shares subject to incentive stock options granted
you by the Company (valued as of their grant date) which would become
exercisable for the first time during any calendar year to exceed $100,000.

     4.   WHOLE SHARES.  Your option may only be exercised for whole shares.

     5.   SECURITIES LAW COMPLIANCE.  Notwithstanding anything to the
contrary contained herein, your option may not be exercised unless the shares
issuable upon exercise of your option are then registered under the
Securities Act or, if such shares are not then so registered, the Company has
determined that such exercise and issuance would be exempt from the
registration requirements of the Securities Act.

     6.   TERM.  The term of your option commences on the date of grant and
expires upon the earliest of:

             (i)    the Expiration Date indicated in the Grant Notice;

             (ii)   the tenth (10th) anniversary of the Date of Grant;

             (iii)  twelve (12) months after your death, if you die during,
                    or within three (3) months after the termination of your
                    Continuous Service; or

             (iv)   twelve (12) months after the termination of your Continuous
                    Service due to disability; or

             (v)    three (3) months after the termination of your Continuous
                    Service for any other reason, provided that if:  (a) during
                    any part of such three (3) month period the option is not
                    exercisable solely because of the condition set forth in
                    paragraph 5 (Securities Law Compliance), in which event the
                    option shall not expire until the earlier of the Expiration
                    Date or until it shall have been exercisable for an
                    aggregate period of three (3) months after the termination
                    of Continuous Service, and (b) exercise of the option within
                    three (3) months after termination of your Continuous
                    Service would result in liability under section 16(b) of the
                    Securities Exchange Act of 1934 (the "Exchange Act"), the
                    option will expire on the earliest of (i) the Expiration
                    Date, (ii) the tenth (10th) day after the last date upon
                    which exercise would result in such liability or (iii) six
                    (6) months and ten (10) days after the termination of your
                    Continuous Service.

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          To obtain the federal income tax advantages associated with an
"incentive stock option," the Code requires that at all times beginning on
the date of grant of the option and ending on the day three (3) months before
the date of the option's exercise, you must be an employee of the Company or
an Affiliate of the Company, except in the event of your death or permanent
and total disability.  The Company has provided for continued vesting or
extended exercisability of your option under certain circumstances for your
benefit, but cannot guarantee that your option will necessarily be treated as
an "incentive stock option" if you provide services to the Company or an
Affiliate of the Company as a consultant or if you exercise your option more
than three (3) months after the date your employment with the Company
terminates.

     7.   EXERCISE.

          (a)  You may exercise the vested portion of your option during its
               term (and the unvested portion of your option if the Grant Notice
               so permits) by delivering a notice of exercise (in a form
               designated by the Company) together with the exercise price to
               the Secretary of the Company, or to such other person as the
               Company may designate, during regular business hours, together
               with such additional documents as the Company may then require.

          (b)  By exercising your option you agree that:

               (i)   as a condition to any exercise of your option, the Company
                     may require you to enter an arrangement providing for the
                     payment by you to the Company of any tax withholding
                     obligation of the Company arising by reason of (1) the
                     exercise of your option; (2) the lapse of any substantial
                     risk of forfeiture to which the shares are subject at the
                     time of exercise; or (3) the disposition of shares acquired
                     upon such exercise;

               (ii)  you will notify the Company in writing within fifteen (15)
                     days after the date of any disposition of any of the shares
                     of the Common Stock issued upon exercise of an incentive
                     stock option that occurs within two (2) years after the
                     date of your option grant or within one (1) year after such
                     shares of Common Stock are transferred upon exercise of
                     your option; and

               (iii) the Company (or a representative of the underwriters) may,
                     in connection with the first underwritten registration of
                     the offering of any securities of the Company under the
                     Act, require that you not sell, dispose of, transfer, make
                     any short sale of, grant any option for the purchase of, or
                     enter into any hedging or similar transaction with the same
                     economic effect as a sale, any shares of Common Stock or
                     other securities of the Company held by you, for a period
                     of time specified by the underwriter(s) (not to exceed one
                     hundred eighty (180) days) following the effective date of
                     the registration statement of the Company filed under the
                     Act.  You further agree to execute and deliver such other
                     agreements as may be reasonably requested by the Company
                     and/or the underwriter(s) which are consistent with the
                     foregoing or which are necessary to give further effect
                     thereto.  In order to enforce the foregoing covenant, the
                     Company may impose stop-transfer

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                     instructions with respect to your Common Stock until the
                     end of such period.

                     the shares of Common Stock issued upon the exercise
shall be subject to the terms of a Stockholders Agreement, which you agree to
execute and be bound by in connection with your exercise.

     8.   TRANSFERABILITY.  Your option is not transferable, except by will
or by the laws of descent and distribution, and is exercisable during your
life only by you.  Notwithstanding the foregoing, by delivering written
notice to the Company, in a form satisfactory to the Company, you may
designate a third party who, in the event of your death, shall thereafter be
entitled to exercise your option.

     9.   RIGHT OF FIRST REFUSAL.  Before any shares of Common Stock (the
"Shares") issued upon exercise of an option to you or any transferee (either
being sometimes referred to herein as the "Holder") may be sold or otherwise
transferred (including transfer by gift or operation of law), the Company
shall have an assignable right of first refusal to purchase the Shares on the
terms and conditions set forth in this Section 9 (the "Right of First
Refusal").

          (a)  NOTICE OF PROPOSED TRANSFER.  The Holder of the Shares shall
deliver to the Company a written notice (the "Notice") stating:  (i) the
Holder's bona fide intention to sell or otherwise transfer the Shares; (ii)
the name of each proposed purchaser or other transferee (the "Proposed
Transferee"); (iii) the number of Shares to be transferred to each Proposed
Transferee; and (iv) the bona fide cash price or other consideration for
which the Holder proposed to transfer the Shares (the "Offered Price"); and
the Holder shall offer to sell the Shares at the Offered Price to the Company.

          (b)  EXERCISE OF RIGHT OF FIRST REFUSAL.  At any time within thirty
(30) days after receipt of the Notice, the Company or its assignee may, by
giving written notice to the Holder, elect to purchase all (but not less than
all) of the Shares proposed to be transferred to any one or more of the
Proposed Transferees, at the Offered Price.

          (c)  PAYMENT.  Payment of the purchase price shall be made, at the
option of the Company or its assignee, either (i) in cash (by check) or (ii)
in the manner and at the time(s) set forth in the Notice.

          (d)  HOLDER'S RIGHT TO TRANSFER.  If all the Shares proposed in the
Notice to be transferred to a given Proposed Transferee are not purchased by
the Company and/or its assignee as provided in this Section 9, then the
Holder may sell or otherwise transfer such Shares to that Proposed Transferee
at the Offered Price or at a higher price, PROVIDED, THAT, such sale or other
transfer is consummated within one hundred twenty (120) days after the date
of the Notice and provided further that any such sale or other transfer is
effected in accordance with any applicable securities laws.  If the Shares
described in the Notice are not transferred to the Proposed Transferee within
such period, a new Notice shall be given to the Company, and the Company
shall again be offered the Right of First Refusal, before any Shares held by
the Holder may be sold or otherwise transferred.

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          (e)  EXCEPTION FOR CERTAIN FAMILY TRANSFERS.  Anything to the
contrary contained in this Section 9 notwithstanding, the transfer of any or
all of the Shares during the Optionee's lifetime or on the Optionee's death
by will or intestacy to Optionee's immediate family or to a trust for the
benefit of Optionee or Optionee's immediate family shall be exempt from the
provisions of this Section 9; PROVIDED THAT, as a condition to receiving the
Shares, the transferee or other recipient shall agree in writing to receive
and hold the Shares so transferred subject to the provisions of the Plan, and
to transfer such Shares no further except in accordance with the terms of the
Plan.  As used herein, "immediate family" shall mean spouse, lineal
descendant or antecedent, father, mother, brother or sister.

          (f)  TERMINATION OF RIGHT OF FIRST REFUSAL.  The Right of First
Refusal shall terminate as to any Shares upon the first sale of Common Stock
of the Company to the general public pursuant to a registration statement
filed with and declared effective by the Securities and Exchange Commission
(other than a registration statement solely covering an employee benefit plan
or corporate reorganization).

     10.  OPTION NOT A SERVICE CONTRACT.  Your option is not an employment
contract and nothing in your option shall be deemed to create in any way
whatsoever any obligation on your part to continue in the employ of the
Company, or of the Company to continue your employment with the Company.  In
addition, nothing in your option shall obligate the Company, or any Affiliate
of the Company, or their respective stockholders, Board of Directors,
officers or employees to continue any relationship which you might have as a
Director or Consultant for the Company.

     11.  NOTICES.  Any notices provided for in your option or the Plan shall
be given in writing and shall be deemed effectively given upon receipt or, in
the case of notices delivered by the Company to you, five (5) days after
deposit in the United States mail, postage prepaid, addressed to you at the
last address you provided to the Company.

     12.  GOVERNING PLAN DOCUMENT.  Your option is subject to all the
provisions of the Plan, the provisions of which are hereby made a part of
your option, including without limitation the provisions of the Plan relating
to option provisions, and is further subject to all interpretations,
amendments, rules and regulations which may from time to time be promulgated
and adopted pursuant to the Plan.  In the event of any conflict between the
provisions of your option and those of the Plan, the provisions of the Plan
shall control.

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                          JATO COMMUNICATIONS CORP.
                              NOTICE OF EXERCISE
                          1998 EQUITY INCENTIVE PLAN

JATO Communications Corp.                         Date of Exercise:____________
1099 18th Street
Suite 700
Denver, CO  80202

Ladies and Gentlemen:

     This constitutes notice under my stock option that I elect to purchase
the number of shares for the price set forth below.

Type of option (check one):        Incentive / /  Nonstatutory   /X/

     Stock option dated:                [DECEMBER     ], 1999
                                   ------------------------------

     Number of shares as to
     which option is exercised:
                                   ----------------------

     Certificates to be
     issued in name of:
                                   ----------------------

     Total exercise price:         $
                                   ----------------------

     Cash payment delivered
     herewith:                     $
                                   ----------------------

     By this exercise, I agree (i) to provide such additional documents as
you may require pursuant to the terms of the Company's 1998 Equity Incentive
Plan, (ii) to provide for the payment by me to you (in the manner designated
by you) of your withholding obligation, if any, relating to the exercise of
the Option, and (iii) to the extent the Option is an incentive stock option,
to notify you in writing within fifteen (15) days after the date of any
disposition of any of the shares of Common Stock issued upon exercise of this
Option that occurs within two (2) years after the date of grant of the Option
OR within one (1) year after such shares of Common Stock are issued upon
exercise of the Option.

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     I hereby make the following certifications and representations with
respect to the number of shares of Common Stock (the "Shares"), which are
being acquired by me for my own account upon exercise of the Option as set
forth above:

     I acknowledge that the Shares have not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), and are deemed to
constitute "restricted securities" under Rule 701 and Rule 144 promulgated
under the Securities Act.  I warrant and represent to the Company that I have
no present intention of distributing or selling said Shares, except as
permitted under the Securities Act and any applicable state securities laws.

     I further acknowledge that I will not be able to resell the Shares for
at least ninety (90) days after the stock of the Company becomes publicly
traded (I.E., subject to the reporting requirements of Section 13 or 15(d) of
the Securities Exchange Act of 1934, as amended) under Rule 701 and that more
restrictive conditions apply to affiliates of the Company under Rule 144.

     I further acknowledge that all certificates representing any of the
Shares subject to the provisions of the Option shall have endorsed thereon
appropriate legends reflecting the foregoing limitations, as well as any
legends reflecting restrictions pursuant to the Company's Certificate of
Incorporation, Bylaws and/or applicable securities laws.

     I further acknowledge that the Shares are subject to the Company's right
of first refusal set forth in the Stock Option Agreement.

     I further agree that, if required by the Company (or a representative of
the underwriters) in connection with the first underwritten registration of
the offering of any securities of the Company under the Securities Act, I
will not sell, dispose, transfer, make any short sale of, grant any option
for the purchase of, or enter into any hedging or similar transaction with
the same economic effect as a sale, of any shares of Common Stock or other
securities of the Company held by me, for a period of time specified by the
underwriter(s) (not to exceed one hundred eighty (180) days) following the
effective date of the registration statement of the Company filed under the
Securities Act.  I further agree to execute and deliver such other agreements
as may be reasonably requested by the Company and/or the underwriter(s) which
are consistent with the foregoing or which are necessary to give further
effect thereto.  In order to enforce the foregoing covenant, the Company may
impose stop-transfer instructions with respect to my shares until the end of
such period.

                              Very truly yours,

                              -----------------------------------
                              Gerald K. Dinsmore

                                       9<PAGE>

                            JATO COMMUNICATIONS CORP.

                            SERIES C PREFERRED STOCK
                               PURCHASE AGREEMENT

                               SEPTEMBER 16, 1999

<PAGE>

                            JATO COMMUNICATIONS CORP.

                   SERIES C PREFERRED STOCK PURCHASE AGREEMENT

     THIS SERIES C PREFERRED STOCK PURCHASE AGREEMENT (the "AGREEMENT") is
entered into as of this 16th day of September, 1999, by and among JATO
COMMUNICATIONS CORP., a Delaware corporation (the "COMPANY"), and each of those
persons and entities, severally and not jointly, whose names are set forth on
the Schedule of Purchasers attached hereto as EXHIBIT A (which persons and
entities are hereinafter collectively referred to as "PURCHASERS" and each
individually as a "PURCHASER").

                                    RECITALS

     WHEREAS, the Company has authorized the sale and issuance of up to an
aggregate of five million seven hundred fourteen thousand two hundred
eighty-five (5,714,285) shares of its Series C Preferred Stock, $.01 par value
(the "SHARES"); and

     WHEREAS, the Company desires to issue and sell the Shares to the Purchasers
and the Purchasers severally desire to purchase some or all of the Shares from
the Company on the terms and conditions set forth herein.

     NOW, THEREFORE, in consideration of the foregoing recitals and the mutual
promises hereinafter set forth, the parties hereto agree as follows:

SECTION 1. AGREEMENT TO SELL AND PURCHASE

     1.1 AUTHORIZATION OF SHARES. On or prior to the Closing (as defined in
Section 2 below), the Company shall have authorized (i) the sale and issuance to
Purchasers of the Shares and (ii) the issuance of such shares of Common Stock to
be issued upon conversion of the Shares (the "CONVERSION SHARES"). The Shares
and the Conversion Shares shall have the rights, preferences, privileges and
restrictions set forth in the Restated Certificate of Incorporation of the
Company, in the form attached hereto as EXHIBIT B (the "CERTIFICATE").

     1.2 SALE AND PURCHASE. Subject to the terms and conditions hereof, at the
Closing (as hereinafter defined), the Company hereby agrees to issue and sell to
each Purchaser, severally and not jointly, and each Purchaser agrees to purchase
from the Company, severally and not jointly, the number of Shares set forth
opposite such Purchaser's name on EXHIBIT A at a purchase price of $ 7.00 per
share.

SECTION 2. CLOSING, DELIVERY AND PAYMENT

     2.1 CLOSING. The closing of the sale and purchase of the Shares under this
Agreement (the "CLOSING") shall take place on the date hereof, at the offices of
Cooley Godward LLP, 2595 Canyon Boulevard, Suite 250, Boulder, Colorado 80302,
or at such other time or place as the Company and the Purchasers acquiring in
the aggregate more than half of the Shares may mutually agree (such date is
hereinafter referred to as the "CLOSING DATE").

                                       1.
<PAGE>

     2.2 DELIVERY. At the Closing, subject to the terms and conditions hereof,
the Company will deliver to the Purchasers one or more stock certificates, as
each Purchaser may request, representing the number of Shares to be purchased at
the Closing by each Purchaser, registered in such Purchaser's name, against
payment of the purchase price therefor, by check or wire transfer made payable
to the order of the Company. In addition, TCI Satellite Entertainment, Inc.
shall deliver a promissory note to the Company, in the form previously approved
by the Company, in the amount of $3,000,000.00 (the "TCI NOTE") against payment
of the purchase price therefor of the number of Shares set forth opposite such
purchaser's name on EXHIBIT A hereto.

SECTION 3. REPRESENTATIONS AND WARRANTIES OF THE COMPANY

     Except as set forth on a Schedule of Exceptions delivered by the Company to
the Purchasers at the Closing, the Company hereby represents and warrants to
each Purchaser as of the date of this Agreement as follows:

     3.1 ORGANIZATION, GOOD STANDING AND QUALIFICATION. The Company and each
Subsidiary (as defined in Section 3.2 below) is a corporation duly organized,
validly existing and in good standing under the laws of the State of Delaware
or, with respect to Jato Communications Corp. of Virginia, the Commonwealth of
Virginia. Each of the Company and Subsidiary has all requisite corporate power
and authority to own and operate their respective properties and assets. The
Company has all requisite corporate power and authority to execute and deliver
this Agreement, the Amended and Restated Investors' Rights Agreement, in the
form attached hereto as EXHIBIT C (the "INVESTORS' RIGHTS AGREEMENT"), and the
Amended and Restated Stockholders' Agreement, in the form attached hereto as
EXHIBIT D (the "STOCKHOLDERS' AGREEMENT"), issue and sell the Shares and the
Conversion Shares and to carry out the provisions of this Agreement, the
Investors' Rights Agreement, the Stockholders' Agreement and the Certificate.
Each of the Company and Subsidiary has the requisite corporate power and
authority to carry on its business as presently conducted and as presently
proposed to be conducted. Each of the Company and Subsidiary is duly qualified
and is authorized to do business and is in good standing as a foreign
corporation in all jurisdictions in which the nature of their respective
activities and of their respective properties (both owned and leased) make such
qualifications necessary, except for those jurisdictions in which failure to do
so would not have a material adverse effect on the Company or Subsidiary or
their respective businesses. The Company has made available to the Purchasers
true, correct and complete copies of the Company's Restated Certificate of
Incorporation and Amended Bylaws, each as amended to date and in full force and
effect on the date hereof. The Company has made available to the Purchasers
true, correct and complete copies of Subsidiary's Certificate of Incorporation
and Bylaws, each as amended to date and in full force and effect on the date
hereof. Since its inception, Subsidiary has had no operations and has not
incurred any material obligations.

     3.2 SUBSIDIARIES. Other than Jato Operating Corp., a Delaware corporation,
Jato Operating Two Corp., a Delaware corporation, and Jato Communications Corp.
of Virginia, a Virginia corporation (collectively, the "SUBSIDIARY"), the
Company owns no equity securities of any other corporation, limited partnership
or similar entity. The Company is not a participant in any joint venture,
partnership or similar arrangement. The Company owns shares of the Subsidiary
free and clear of all encumbrances.

                                       2.
<PAGE>

     3.3 CAPITALIZATION; VOTING RIGHTS.

         (a) The authorized capital stock of the Company, immediately prior to
the Closing, will consist of (a) eighty million (80,000,000) shares of Common
Stock, of which six million seven hundred sixty-five thousand two (6,765,002)
shares are issued and outstanding, and (b) twenty-five million (25,000,000)
shares of Preferred Stock, of which one million seven hundred fifty-one thousand
nine hundred eighty-five (1,751,985) shares are designated Series A Preferred
Stock, of which one million seven hundred fifty-one thousand nine hundred eighty
five (1,751,985) are issued and outstanding, of which thirteen million six
hundred fifteen thousand three hundred twenty-two (13,615,322) shares are
designated Series B Preferred Stock, of which thirteen million six hundred
fifteen thousand three hundred twenty-two (13,615,322) are issued and
outstanding, and of which five million seven hundred fourteen thousand two
hundred eighty-five (5,714,285) shares are designated Series C Preferred Stock,
none of which are issued and outstanding. All issued and outstanding shares of
the Company's Common Stock and Preferred Stock (i) have been duly authorized and
validly issued, (ii) are fully paid and nonassessable and (iii) were issued in
compliance with all applicable state and federal laws concerning the issuance of
securities. The rights, preferences, privileges and restrictions of the Shares
are as stated in the Certificate. The Conversion Shares have been duly and
validly reserved for issuance. As of the Closing, there has been no action taken
by the Company which would have required an adjustment to the Series C
Conversion Price, as defined in the Certificate. Except as set forth on the
Schedule of Exceptions and except as may be granted pursuant to this Agreement
or the Investors' Rights Agreement, there are no outstanding options, warrants,
rights (including conversion or preemptive rights and rights of first refusal),
proxy or stockholder agreements, or agreements of any kind for the purchase or
acquisition from the Company of any of its securities. The Shares and the
Conversion Shares have been duly authorized and, when issued in compliance with
the provisions of this Agreement and the Certificate, will be validly issued
(including, without limitation, issued in compliance with applicable state and
federal securities laws), fully paid and nonassessable, subject to no preemptive
rights, and will be free of any liens or encumbrances; PROVIDED, HOWEVER, that
the Shares and the Conversion Shares may be subject to restrictions on transfer
under state and/or federal securities laws as set forth herein or as otherwise
required by such laws at the time transfer is proposed.

         (b) The authorized capital stock of (i) Jato Operating Corp. consists
of eleven hundred (1,100) shares of Common Stock, (ii) Jato Operating Two Corp.
consists of one hundred (100) shares of Common Stock, and (iii) Jato
Communications Corp. of Virginia consists of one hundred (100) shares of Common
Stock, all of which shares are issued and outstanding and held of record by the
Company.

     3.4 AUTHORIZATION; BINDING OBLIGATIONS. All corporate action on the part of
the Company, its officers, directors and stockholders necessary for the
authorization of this Agreement, the Investors' Rights Agreement and the
Stockholders' Agreement, the performance of all obligations of the Company
hereunder and thereunder at the Closing and the authorization, sale, issuance
and delivery of the Shares pursuant hereto and the Conversion Shares pursuant to
the Certificate has been taken or will be taken prior to the Closing. The
Agreement, the Investors' Rights Agreement and the Stockholders' Agreement, when
executed and delivered, will be valid and binding obligations of the Company
enforceable in accordance with their terms, except (i) as limited by applicable
bankruptcy, insolvency, reorganization, moratorium or other

                                       3.
<PAGE>

laws of general application affecting enforcement of creditors' rights; (ii)
general principles of equity that restrict the availability of equitable
remedies; and (iii) to the extent that the enforceability of the indemnification
provisions in Section 3.12 of the Investors' Rights Agreement may be limited by
applicable laws. The sale of the Shares and the subsequent conversion of the
Shares into Conversion Shares are not and will not be subject to any preemptive
rights or rights of first refusal that have not been properly waived or complied
with.

     3.5 FINANCIAL STATEMENTS. The Company has delivered to each Purchaser (i)
its audited balance sheet as at December 31, 1998 and audited statement of
income and cash flows for the period from inception and ending December 31, 1998
and (ii) its unaudited balance sheet as at June 30, 1999 (the "STATEMENT DATE")
and unaudited consolidated statement of income for the six-month period ending
on the Statement Date (collectively, the "FINANCIAL STATEMENTS"). The Financial
Statements, together with the notes thereto, are complete and correct in all
material respects, have been prepared in accordance with generally accepted
accounting principles applied on a consistent basis throughout the periods
indicated, except as disclosed therein, and present fairly the financial
condition and position of the Company as of December 31, 1998 and the Statement
Date; PROVIDED, HOWEVER, that the unaudited financial statements are subject to
normal recurring year-end audit adjustments (which are not expected to be
material), and may not contain all footnotes required under generally accepted
accounting principles.

     3.6 LIABILITIES. The Company has no material liabilities and, to its
knowledge, knows of no material contingent liabilities not otherwise disclosed
in the Financial Statements, except current liabilities incurred in the ordinary
course of business subsequent to the Statement Date which have not been, either
in any individual case or in the aggregate, materially adverse.

     3.7 AGREEMENTS; ACTION.

         (a) Except as set forth on the Schedule of Exceptions and except for
agreements explicitly contemplated hereby, there are no agreements,
understandings or proposed transactions between the Company and any of its
officers, directors, affiliates or their respective affiliates.

         (b) There are no agreements, understandings, instruments, contracts,
proposed transactions, judgments, orders, writs or decrees to which the Company
is a party or to its knowledge by which it is bound which may involve (i)
obligations (contingent or otherwise) of, or payments to, the Company in excess
of $25,000, or (ii) the license of any patent, copyright, trade secret or other
proprietary right to or from the Company (other than licenses arising from the
purchase of "off the shelf" or other standard products), or (iii) provisions
restricting or affecting the development, manufacture or distribution of the
Company's products or services, or (iv) indemnification by the Company with
respect to infringements of proprietary rights.

         (c) The Company has not (i) declared or paid any dividends, or
authorized or made any distribution upon or with respect to any class or series
of its capital stock, (ii) incurred any indebtedness for money borrowed or any
other liabilities (other than with respect to indebtedness and other obligations
incurred in the ordinary course of business or as disclosed in the Financial
Statements) individually in excess of $25,000 or, in the case of indebtedness
and/or liabilities individually less than $25,000, in excess of $75,000 in the
aggregate, (iii) made any

                                       4.
<PAGE>

loans or advances to any person, other than ordinary advances for travel
expenses, or (iv) sold, exchanged or otherwise disposed of any of its assets or
rights, other than the sale of its inventory in the ordinary course of business.

         (d) For the purposes of subsections (b) and (c) above, all
indebtedness, liabilities, agreements, understandings, instruments, contracts
and proposed transactions involving the same person or entity (including persons
or entities the Company has reason to believe are affiliated therewith) shall be
aggregated for the purpose of meeting the individual minimum dollar amounts of
such subsections.

     3.8 OBLIGATIONS TO RELATED PARTIES. There are no obligations of the Company
to officers, directors, stockholders, or employees of the Company other than (a)
for payment of salary for services rendered, (b) reimbursement for reasonable
expenses incurred on behalf of the Company and (c) for other standard employee
benefits made generally available to all employees (including stock option
agreements outstanding under any stock option plan approved by the Board of
Directors of the Company). No such officer, director or stockholder, or any
member of their immediate families is, directly or indirectly, interested in any
material contract with the Company (other than such contracts as relate to any
such person's ownership of capital stock or other securities of the Company).
The Company is not a guarantor or indemnitor of any indebtedness of any other
person, firm or corporation.

     3.9 ABSENCE OF CHANGES. Except as set forth on the Schedule of Exceptions,
since the Statement Date, there has not been:

         (a) Any change in the assets, liabilities, financial condition,
earnings or operations of the Company from that reflected in the Financial
Statements, other than changes in the ordinary course of business, none of which
individually or in the aggregate has had or is expected to have a material
adverse effect on such assets, liabilities, financial condition, earnings or
operations of the Company;

         (b) Any resignation or termination of any key officers of the Company;
and the Company, to the best of its knowledge, does not know of the impending
resignation or termination of employment of any such officer;

         (c) Any material change in the contingent obligations of the Company by
way of guaranty, endorsement, indemnity, warranty or otherwise;

         (d) Any damage, destruction or loss, whether or not covered by
insurance, materially and adversely affecting the properties, business or
prospects or financial condition of the Company;

         (e) Any waiver by the Company of a valuable right or of a material debt
owed to it;

         (f) Any direct or indirect loans made by the Company to any
stockholder, employee, officer or director of the Company, other than immaterial
advances made in the ordinary course of business;

                                       5.
<PAGE>

         (g) Any material change in any compensation arrangement or agreement
with any employee, officer, director or stockholder including, without
limitation, any (i) increase in the compensation payable or to become payable by
the Company to any of the Company's employees, (ii) any bonus, incentive
compensation, service award or other like benefit, granted, made or accrued,
contingently or otherwise, to or for the credit of the Company's employees, or
(iii) any employee welfare, pension, retirement, profit-sharing or similar
payment or arrangement (whether or not subject to ERISA) made or agreed to by
the Company;

         (h) Any declaration or payment of any dividend or other distribution of
the assets of the Company;

         (i) Any labor organization activity;

         (j) Any debt, obligation or liability incurred, assumed or guaranteed
by the Company, except those for immaterial amounts and for current liabilities
incurred in the ordinary course of business;

         (k) Any sale, assignment or transfer of any patents, trademarks,
copyrights, trade secrets or other intangible assets;

         (l) Any change in any material agreement to which the Company is a
party or by which it is bound which materially and adversely affects the
business, assets, liabilities, financial condition, operations or prospects of
the Company;

         (m) (i) Any change in practice with respect to taxes, (ii) any making,
changing or revoking of any tax election, or (iii) any settlement or compromise
of any dispute involving a tax liability;

         (n) Any change in the number of shares of capital stock of the Company
issued and outstanding;

         (o) Any failure to conduct the business of the Company in the ordinary
course;

         (p) Any change in the method of accounting or accounting practice of
the Company;

         (q) Any change in the Company's lines of business; or

         (r) Any other event or condition of any character that, either
individually or cumulatively, has materially and adversely affected the
business, assets, liabilities, financial condition, operations or prospects of
the Company. For purposes of this subsection (r), a material and adverse effect
shall only be deemed to occur if its monetary impact exceeds, or with the
passage of time, will exceed $75,000.

                                       6.
<PAGE>

     3.10 REAL PROPERTIES; TANGIBLE PERSONAL PROPERTY.

         (a) REAL PROPERTIES. The Schedule of Exceptions sets forth each lease
or other agreement (including easements) under which the Company leases or has
rights in any real property (the "REAL PROPERTY LEASES," and, each individually,
a "REAL PROPERTY LEASE"). The Company has a valid and subsisting leasehold
interest in all the real property which is the subject of each Real Property
Lease. The Company does not presently own, and has never owned, any real
property and does not presently operate, and has never operated, any real
property, other than as a lessee.

         (b) TANGIBLE PERSONAL PROPERTY. Except as set forth on the Schedule of
Exceptions, (i) the Company has good, marketable and valid title to all of the
items of tangible personal property used in its operations and (ii) all such
tangible personal property is reflected on the Company's unaudited Financial
Statements, except as sold or disposed of subsequent to the date thereof in the
ordinary course of business consistent with past practices. The tangible
personal property of the Company is in good repair and working order, reasonable
wear and tear excepted, and constitutes all of the tangible personal property
necessary for the operation of the business as currently conducted.

     3.11 PATENTS AND TRADEMARKS. The Company is the sole owner, free of any
lien or encumbrance, of, or has a valid license, on commercially reasonable
terms, to, all U.S. and foreign patents, registered designs, copyrights,
computer software and databases, trademarks, service marks and trade names,
whether or not registered, and other trade secrets, research and development,
formulae, inventions, processes, know-how and proprietary and intellectual
property rights and information, including all grants, registrations and
applications relating thereto (collectively, the "PROPRIETARY RIGHTS") necessary
for the conduct of its business as now conducted (the "COMPANY RIGHTS"). The
Company's rights in the Company Rights are, to the Company's knowledge, valid
and enforceable. The Company has received no demand, claim, notice or inquiry
from any person in respect of the Company Rights which challenges, threatens to
challenge or inquires as to whether there is any basis to challenge, the
validity of, or the rights of the Company in, any such Company Rights. There are
no outstanding options, licenses or agreements of any kind relating to the
Company Rights, nor is the Company bound by or a party to any options, licenses
or agreements of any kind with respect to the Proprietary Rights of any other
person or entity other than such licenses or agreements arising from the
purchase of "off the shelf" or standard products. The Company has taken, and
will take, all actions which are necessary in order to protect the Company
Rights and to acquire additional Proprietary Rights, consistent with prudent
commercial practices in the telecommunications industry. To the knowledge of the
Company, the Company is not in violation or infringement of, and has not
violated or infringed, any Proprietary Rights of any other person. To the
knowledge of the Company, no person is infringing any Company Rights. The
Company is not aware that any of its employees is obligated under any contract
(including licenses, covenants or commitments of any nature) or other agreement,
or subject to any judgment, decree or order of any court or administrative
agency, that would interfere with their duties to the Company's business by the
employees of the Company, nor will, to the Company's knowledge, the conduct of
the Company's business as proposed conflict with or result in a breach of the
terms, conditions or provisions of, or constitute a default under, any contract,
covenant or instrument under which any employee is now obligated. The Company
does not believe it is or will be necessary to

                                       7.
<PAGE>

utilize any inventions, trade secrets or proprietary information of any of its
employees made prior to their employment by the Company, except for inventions,
trade secrets or proprietary information that have been assigned to the Company.

     3.12 COMPLIANCE WITH OTHER INSTRUMENTS. The Company is not in violation or
default of any term of its Certificate or Amended Bylaws, or of any provision of
any mortgage, indenture, contract, agreement, instrument or contract to which it
is party or by which it is bound or of any judgment, decree, order, writ or any
statute, rule or regulation applicable to the Company which would materially and
adversely affect the business, assets, liabilities, financial condition,
operations or prospects of the Company. The execution, delivery, and performance
of and compliance with this Agreement, the Investors' Rights Agreement, the
Stockholders' Agreement and the Compliance Certificate to be delivered pursuant
to Section 5.1(f) hereof, and the issuance and sale of the Shares pursuant
hereto and of the Conversion Shares pursuant to the Certificate, will not, with
or without the passage of time or giving of notice, result in any such material
violation, or be in conflict with or constitute a default under any such term,
or result in the creation of any mortgage, pledge, lien, encumbrance or charge
upon any of the properties or assets of the Company or the suspension,
revocation, impairment, forfeiture or nonrenewal of any permit, license,
authorization or approval applicable to the Company, its business or operations
or any of its assets or properties.

     3.13 LITIGATION. There is no action, suit, proceeding or investigation
pending, or to the Company's knowledge, currently threatened against the Company
that questions the validity of this Agreement, the Investors' Rights Agreement
or the Stockholders' Agreement or the right of the Company to enter into any of
such agreements, or to consummate the transactions contemplated hereby or
thereby, or which might result, either individually or in the aggregate, in any
material adverse change in the assets, condition, affairs or prospects of the
Company, financially or otherwise, or any change in the current equity ownership
of the Company, nor is the Company aware that there is any basis for the
foregoing. The foregoing includes, without limitation, actions pending or
threatened (or any basis therefor known to the Company) involving the prior
employment of any of the Company's employees, their use in connection with the
Company's business of any information or techniques allegedly proprietary to any
of their former employers, or their obligations under any agreements with prior
employers. The Company is not a party or subject to the provisions of or in
violation of any order, writ, injunction, judgment or decree or any rule or
regulation of any court or government agency or instrumentality. There is no
action, suit, proceeding or investigation by the Company currently pending or
which the Company intends to initiate.

     3.14 TAX RETURNS AND PAYMENTS. The Company has timely filed all tax returns
(federal, state and local) required to be filed by it. All taxes shown to be due
and payable on such returns, any assessments imposed, and to the Company's
knowledge all other taxes due and payable by the Company on or before the
Closing have been paid or will be paid prior to the time they become delinquent.
The Company has not been advised (i) that any of its returns, federal, state or
other, have been or are being audited as of the date hereof, or (ii) of any
deficiency in assessment or proposed judgment to its federal, state or other
taxes. The Company has no knowledge of any liability of any tax to be imposed
upon its properties or assets as of the date of this Agreement that is not
adequately provided for. Neither the Company nor the Subsidiary is a party to
any agreement relating to allocating or sharing the payment of, or liability for
taxes with

                                       8.
<PAGE>

respect to, any taxable period. Neither the Company nor Subsidiary
has any deferred income reportable for a period ending after the Closing Date
that is attributable to a transaction (e.g., an installment sale) occurring in,
or resulting from a change of accounting method for, a period ending on or prior
to the Closing Date.

     3.15 EMPLOYEES. The Company is not a party to or bound by any currently
effective employment contract, deferred compensation arrangement, bonus plan,
incentive plan, profit sharing plan, retirement agreement or other employee
compensation plan or agreement. Neither the Company, nor any entity which is
required to be aggregated with the Company pursuant to Sections 414(b), (c), (m)
or (o) of the Internal Revenue Code of 1986 has any liability whether actual or
contingent, with respect to any employee benefit plan or arrangement. To the
Company's knowledge, no employee of the Company, nor any consultant with whom
the Company has contracted, is in violation of any term of any employment
contract, proprietary information agreement or any other agreement relating to
the right of any such individual to be employed by, or to contract with, the
Company because of the nature of the business to be conducted by the Company;
and to the Company's knowledge the continued employment by the Company of its
present employees, and the performance of the Company's contracts with its
independent contractors, will not result in any such violation. The Company has
not received any notice alleging that any such violation has occurred. No
employee of the Company has been granted the right to continued employment by
the Company or to any material compensation following termination of employment
with the Company. The Company is not aware that any officer or key employee, or
that any group of key employees, intends to terminate their employment with the
Company, nor does the Company have a present intention to terminate the
employment of any officer, key employee or group of key employees. To the
Company's knowledge, the Company is in compliance with all laws and orders
relating to the employment of labor, including, without limitation, all such
laws and orders relating to wages, hours, discrimination, civil rights, safety
and the collection and payment of withholding and/or Social Security taxes and
similar taxes. There are no complaints, charges or claims against the Company
pending, or, to the Company's knowledge, threatened to be brought or filed, with
any governmental entity or arbitrator based on, arising out of, in connection
with, or otherwise relating to the employment or termination of employment of
any individual by the Company.

     3.16 PROPRIETARY INFORMATION AND INVENTIONS AGREEMENTS. Each current
employee, officer and consultant of the Company has executed a Proprietary
Information and Inventions Agreement that effectively waives any ownership
rights in the invention or authorship of any Company Rights and has assigned to
the Company all rights with respect thereto. No current employee, officer or
consultant of the Company has excluded works or inventions made prior to his or
her employment with the Company from his or her assignment of the works or
inventions pursuant to such employee, officer or consultant's Non-Competition,
Proprietary Information and Inventions Agreement in the form attached hereto as
EXHIBIT E.

     3.17 OBLIGATIONS OF MANAGEMENT. Each officer of the Company is currently
devoting one hundred percent (100%) of his business time to the conduct of the
business of the Company. The Company is not aware of any officer or key employee
of the Company planning to work less than full time at the Company in the
future.

                                       9.
<PAGE>

     3.18 REGISTRATION RIGHTS. Except as required pursuant to the Investors'
Rights Agreement, the Company is presently not under any obligation, and has not
granted any rights, to register (as defined in Section 1 of the Investors'
Rights Agreement) any of the Company's presently outstanding securities or any
of its securities that may hereafter be issued.

     3.19 COMPLIANCE WITH LAWS; PERMITS. The Company is not in violation of any
applicable statute, rule, regulation, order or restriction of any domestic or
foreign government or any instrumentality or agency thereof in respect of the
conduct of its business or the ownership of its properties which violation would
materially and adversely affect the business, assets, liabilities, financial
condition, operations or prospects of the Company. No governmental orders,
permissions, consents, approvals or authorizations are required to be obtained
and no registrations or declarations are required to be filed in connection with
the execution and delivery of this Agreement and the issuance of the Shares or
the Conversion Shares, except such as has been duly and validly obtained or
filed, or with respect to any filings that must be made after the Closing, as
will be filed in a timely manner. The Schedule of Exceptions sets forth the
states in which the Company has obtained all franchises, permits, licenses and
any similar authority necessary for the conduct of its business as now being
conducted by it, the lack of which could materially and adversely affect the
business, properties, prospects or financial condition of the Company.

     3.20 OFFERING VALID. Assuming the accuracy of the representations and
warranties of the Purchasers contained in Section 4.2 hereof, the offer, sale
and issuance of the Shares and the Conversion Shares will be exempt from the
registration requirements of the Securities Act of 1933, as amended (the
"SECURITIES ACT"), and will have been registered or qualified (or are exempt
from registration and qualification) under the registration, permit or
qualification requirements of all applicable state securities laws. Neither the
Company nor any agent on its behalf has solicited or will solicit any offers to
sell or has offered to sell or will offer to sell all or any part of the Shares
to any person or persons so as to bring the sale of such Shares by the Company
within the registration provisions of the Securities Act or any state securities
laws.

     3.21 FULL DISCLOSURE. This Agreement, the Exhibits hereto, the Schedule of
Exceptions, the Investors' Rights Agreement, the Stockholders' Agreement and all
other documents delivered by the Company to Purchasers or their attorneys or
agents in connection herewith or therewith or with the transactions contemplated
hereby or thereby, do not contain any untrue statement of a material fact nor
omit to state a material fact necessary in order to make the statements
contained herein or therein not misleading. There is no fact peculiar to the
Company and known to the Company which materially adversely affects, or
reasonably could be expected to materially adversely affect in the future, the
business, property or assets, or financial condition of the Company, which has
not been set forth in this Agreement or in the other documents described herein
or furnished to the Purchasers by or on behalf of the Company prior to the date
hereof in connection with the transactions contemplated hereby.

     3.22 APPLICATION OF PROCEEDS. The proceeds of the sale of the Shares will
be used by the Company to fund the capital expenditures and working capital
needs of the Company and for other general corporate purposes. The Company does
not own any "margin security' within the meaning of Regulation T (12 CFR Part
220) of the Board of Governors of the Federal Reserve System (herein called a
"margin security") or "margin stock" within the meaning of Regulation

                                      10.
<PAGE>

U (12 CFR Part 221) of the Board of Governors of the Federal Reserve System
(herein called "margin stock"). Neither the Company nor any agent acting on its
behalf, has taken or will take any action which might cause this Agreement to
violate Regulation T, Regulation U, Regulation X or any other regulation of the
Board of Governors of the Federal Reserve System or to violate the Securities
Exchange Act of 1934, in each case as in effect now or as the same hereafter may
be in effect.

     3.23 CERTAIN LIMITATIONS. Neither the nature of the Company, nor any of its
respective businesses or properties, nor any relationship between the Company
and any other person, nor any circumstance in connection with the offer, issue,
sale or delivery of the Shares (other than in any such case, any matter relating
to the Purchasers) is, such as to require or give rise to any limitation on any
Purchaser's ownership of any equity securities of the Company.

     3.24 ENVIRONMENTAL.

         (a) To the Company's knowledge, the Company complies, and at all times
has complied, in all material respects with all applicable Environmental Laws.
For the purposes hereof, "ENVIRONMENTAL LAW" shall mean any judgment, decree,
order, law, permit, license, rule, regulation or agency requirement relating to
or addressing the environment, health or safety (to the extent relating to
exposure to any hazardous substance), including, without limitation, the
Comprehensive Environmental Response, Compensation and Liability Act, as
amended, the Resource Conservation and Recovery Act, as amended, the Superfund
Amendments and Reauthorization Act of 1986, the Federal Clean Water Act, the
Federal Clean Air Act, the Toxic Substances Control Act and any federal, state,
local or foreign statute, regulation, ordinance, order or decree relating to
health, safety (in the case of health and safety to the extent relating to
exposure in the workplace or otherwise to any Hazardous Substance) or the
environment.

         (b) There is not now pending or, to the Company's knowledge, threatened
any action, claim, proceeding or investigation nor has the Company received any
notice, claim, demand letter, or request for information at any time, alleging
that the Company may be in violation of, or liable under, any Environmental Law.

         (c) To the Company's knowledge, without initiating any inquiry, there
are no hazardous substances located on the properties currently or formerly
owned or operated by the Company (including soil, groundwater or surface
features and buildings or structures thereon) other than as permitted under
applicable Environmental Laws, and none of the properties contain, or has
contained, any underground storage tank.

     3.25 INSURANCE. The Company maintains and/or is covered by valid policies
of workers' compensation insurance and of insurance with respect to its
properties and business. The Company currently maintains, in full force,
insurance covering the risks of the Company, if any, of such types and in such
amounts and with such deductibles as are customary for other companies engaged
in similar lines of business and with good and responsible insurance companies.

     3.26 SMALL BUSINESS MATTERS. The Company acknowledges that ABN AMRO Private
Equity is a federally licensed Small Business Investment Company (an "SBIC
HOLDER") under

                                      11.
<PAGE>

the Small Business Investment Company Act. The information regarding the Company
and its affiliates in Small Business Administration Form 480, Form 652 and Parts
A and B of Form 1031 delivered at or promptly following the Closing is accurate
in all material respects. Neither the Company nor any subsidiary of the Company
presently engages in, or shall hereinafter engage in, any activities, nor shall
the Company nor any subsidiary of the Company use the proceeds from the sale of
Series C Stock directly or indirectly for any purpose for which an SBIC Holder
is prohibited from providing funds by Small Business Investment Company Act
regulations.

     3.27 QUALIFIED SMALL BUSINESS. The Company represents and warrants to the
Purchasers that, to the best of its knowledge, the Company is a "qualified small
business" within the meaning of Section 1202(d) of the Internal Revenue Code of
1986, as amended (the "Code") as of the date hereof and the Shares should
qualify as "qualified small business stock" as defined in Section 1202(c) of the
Code as of the date hereof. The Company further represents and warrants that, as
of the date hereof, it meets the "active business requirement" of Section
1202(e) of the Code, and it has made no "significant redemptions" within the
meaning of Section 1202(c)(3)(B) of the Code.

SECTION 4. REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS

     Each Purchaser hereby represents and warrants to the Company as follows
(such representations and warranties do not lessen or obviate the
representations and warranties of the Company set forth in this Agreement):

     4.1 REQUISITE POWER AND AUTHORITY. Purchaser has all necessary power and
authority under all applicable provisions of law to execute and deliver this
Agreement, the Investors' Rights Agreement, the Stockholders' Agreement and to
carry out their provisions. All action on Purchaser's part required for the
lawful execution and delivery of this Agreement, the Investors' Rights Agreement
and the Stockholders' Agreement has been or will be effectively taken prior to
the Closing. Upon their execution and delivery, this Agreement, the Investors'
Rights Agreement and the Stockholders' Agreement will be valid and binding
obligations of Purchaser, enforceable in accordance with their terms, except (i)
as limited by applicable bankruptcy, insolvency, reorganization, moratorium or
other laws of general application affecting enforcement of creditors' rights,
(ii) general principles of equity that restrict the availability of equitable
remedies and (iii) to the extent that the enforceability of the indemnification
provisions of the Investors' Rights Agreement may be limited by applicable laws.

     4.2 INVESTMENT REPRESENTATIONS. Purchaser understands that neither the
Shares nor the Conversion Shares have been registered under the Securities Act.
Purchaser also understands that the Shares are being offered and sold pursuant
to an exemption from registration contained in the Securities Act based in part
upon Purchaser's representations contained in the Agreement. Purchaser hereby
represents and warrants as follows:

         (a) PURCHASER BEARS ECONOMIC RISK. Purchaser has substantial experience
in evaluating and investing in private placement transactions of securities in
companies similar to the Company so that it is capable of evaluating the merits
and risks of its investment in the

                                      12.
<PAGE>

Company and has the capacity to protect its own interests. Purchaser must bear
the economic risk of this investment indefinitely unless the Shares (or the
Conversion Shares) are registered pursuant to the Securities Act, or an
exemption from registration is available. Purchaser also understands that there
is no assurance that any exemption from registration under the Securities Act
will be available and that, even if available, such exemption may not allow
Purchaser to transfer all or any portion of the Shares or the Conversion Shares
under the circumstances, in the amounts or at the times Purchaser might propose.

         (b) ACQUISITION FOR OWN ACCOUNT. Purchaser is acquiring the Shares and
the Conversion Shares for Purchaser's own account for investment only, and not
with a view towards their distribution.

         (c) ACCREDITED INVESTOR. Purchaser represents that it is an "accredited
investor" within the meaning of Regulation D under the Securities Act.

         (d) RULE 144. Purchaser acknowledges and agrees that the Shares, and,
if issued, the Conversion Shares must be held indefinitely unless they are
subsequently registered under the Securities Act or an exemption from such
registration is available. Purchaser has been advised or is aware of the
provisions of Rule 144 promulgated under the Securities Act as in effect from
time to time, which permits limited resale of shares purchased in a private
placement subject to the satisfaction of certain conditions, including, among
other things, the availability of certain current public information about the
Company, the resale occurring following the required holding period under Rule
144 and the number of shares being sold during any three-month period not
exceeding specified limitations.

         (e) RESIDENCE. If the Purchaser is an individual, then the Purchaser
resides in the state or province identified in the address of the Purchaser set
forth on EXHIBIT A; if the Purchaser is a partnership, corporation, limited
liability company or other entity, then the office or offices of the Purchaser
in which its investment decision was made is located at the address or addresses
of the Purchaser set forth on EXHIBIT A.

     4.3 TRANSFER RESTRICTIONS. Each Purchaser acknowledges and agrees that the
Shares and, if issued, the Conversion Shares are subject to restrictions on
transfer as set forth in the Investors' Rights Agreement and the Stockholders'
Agreement.

SECTION 5. CONDITIONS TO CLOSING

     5.1 CONDITIONS TO PURCHASERS' OBLIGATIONS AT THE CLOSING. Purchasers'
obligations to purchase the Shares at the Closing are subject to the
satisfaction, at or prior to the Closing, of the following conditions:

         (a) REPRESENTATIONS AND WARRANTIES TRUE; PERFORMANCE OF OBLIGATIONS.
The representations and warranties made by the Company in Section 3 hereof shall
be true and correct in all respects as of the Closing Date with the same force
and effect as if they had been made as of the Closing Date, and the Company
shall have performed all obligations and conditions herein required to be
performed or observed by it on or prior to the Closing.

                                      13.
<PAGE>

         (b) LEGAL INVESTMENT. On the Closing Date, the sale and issuance of the
Shares and the proposed issuance of the Conversion Shares shall be legally
permitted by all laws and regulations to which Purchasers and the Company are
subject.

         (c) CONSENTS, PERMITS, AND WAIVERS. The Company shall have obtained any
and all consents, permits and waivers necessary or appropriate for consummation
of the transactions contemplated by the Agreement, the Investors' Rights
Agreement and the Stockholders' Agreement (except for such as may be properly
obtained subsequent to the Closing).

         (d) FILING OF CERTIFICATE. The Certificate shall have been approved by
the Board of Directors of the Company and filed with the Secretary of State of
the State of Delaware and shall be in full force and effect.

         (e) RESERVATION OF CONVERSION SHARES. The Conversion Shares issuable
upon conversion of the Shares shall have been duly authorized and reserved for
issuance upon such conversion.

         (f) COMPLIANCE CERTIFICATE. The Company shall have delivered to
Purchasers a Compliance Certificate, executed by the Chief Executive Officer of
the Company, dated as of the Closing Date, to the effect that the conditions
specified in subsections (a), (c), (d) and (e) of this Section 5.1 have been
satisfied.

         (g) AMENDED AND RESTATED INVESTORS' RIGHTS AGREEMENT. An Amended and
Restated Investors' Rights Agreement, substantially in the form attached hereto
as EXHIBIT C, shall have been executed and delivered by the parties thereto.

         (h) AMENDED AND RESTATED STOCKHOLDERS' AGREEMENT. An Amended and
Restated Stockholders' Agreement, substantially in the form attached hereto as
EXHIBIT D, shall have been executed and delivered by the parties thereto.

         (i) BOARD OF DIRECTORS. Upon the Closing, the authorized size of the
Board of Directors of the Company shall be six (6) members and the Board shall
consist of Leonard Allsup, Brian Gast, Gregg Mockenhaupt, James Collis, Gerald
K. Dinsmore, and Todd Brooks.

         (j) LEGAL OPINION. The Purchasers shall have received from Cooley
Godward LLP an opinion addressed to them, dated as of the Closing Date, in
substantially the form attached hereto as EXHIBIT F.

         (k) MINIMUM AMOUNT OF INVESTMENT. A minimum of three million five
hundred seventy-one thousand four hundred twenty-eight (3,571,428) shares of the
Company's Shares shall be sold at the Closing.

         (l) PROCEEDINGS AND DOCUMENTS. All corporate and other proceedings in
connection with the transactions contemplated at the Closing hereby, all
documents and instruments incident to such transactions and all documents,
instruments and proceedings related to the Purchasers' business, technical and
legal due diligence shall be reasonably satisfactory in substance and form to
the Purchasers and their special counsel, and the Purchasers and their

                                      14.
<PAGE>

special counsel shall have received all such counterpart originals or certified
or other copies of such documents as they may reasonably request.

         (m) EXPENSES. On the Closing Date, the Company shall have paid the
reasonable fees and expenses of Dewey Ballantine LLP as special counsel for the
Purchasers, in an amount not to exceed $15,000.

     5.2 CONDITIONS TO OBLIGATIONS OF THE COMPANY. The Company's obligation to
issue and sell the Shares at the Closing is subject to the satisfaction, on or
prior to the Closing, of the following conditions:

         (a) REPRESENTATIONS AND WARRANTIES TRUE. The representations and
warranties made by the Purchasers in Section 4 hereof shall be true and correct
in all respects at the date of the Closing, with the same force and effect as if
they had been made on and as of said date.

         (b) PERFORMANCE OF OBLIGATIONS. Purchasers shall have performed and
complied with all agreements and conditions herein required to be performed or
complied with by Purchasers on or before the Closing.

         (c) CONSENTS, PERMITS, AND WAIVERS. The Company shall have obtained any
and all consents, permits and waivers necessary or appropriate for consummation
of the transactions contemplated by the Agreement, the Investors' Rights
Agreement and the Stockholders' Agreement (except for such as may be properly
obtained subsequent to the Closing).

         (d) FILING OF CERTIFICATE. The Certificate shall have been approved by
the Board of Directors of the Company and filed with the Secretary of State of
the State of Delaware and shall be in full force and effect.

         (e) AMENDED AND RESTATED INVESTORS' RIGHTS AGREEMENT. An Amended and
Restated Investors' Rights Agreement, substantially in the form attached hereto
as EXHIBIT C, shall have been executed and delivered by the Purchasers.

         (f) AMENDED AND RESTATED STOCKHOLDERS' AGREEMENT. An Amended and
Restated Stockholders' Agreement, substantially in the form attached hereto as
EXHIBIT D, shall have been executed and delivered by Purchasers.

         (g) MINIMUM AMOUNT OF INVESTMENT. A minimum of three million five
hundred seventy-one thousand four hundred twenty-eight (3,571,428) shares of the
Company's Shares shall be sold at the Closing.

SECTION 6. MISCELLANEOUS

     6.1 GOVERNING LAW. This Agreement shall be construed and enforced in
accordance with the laws of the State of Colorado without regard to its
conflict-of-laws rules.

                                      15.
<PAGE>

     6.2 SURVIVAL. The representations, warranties, covenants and agreements
made herein shall survive any investigation made by any Purchaser and the
closing of the transactions contemplated hereby. All statements as to factual
matters contained in any certificate or other instrument delivered by or on
behalf of the Company pursuant hereto in connection with the transactions
contemplated hereby shall be deemed to be representations and warranties by the
Company hereunder solely as of the date of such certificate or instrument.

     6.3 SUCCESSORS AND ASSIGNS. Except as otherwise expressly provided herein,
the provisions hereof shall inure to the benefit of, and be binding upon, the
successors, assigns, heirs, executors and administrators of the parties hereto
and shall inure to the benefit of and be enforceable by each person who shall be
a holder of the Shares from time to time.

     6.4 ENTIRE AGREEMENT. This Agreement, the Exhibits and Schedules hereto,
including the Investors' Rights Agreement, the Stockholders' Agreement and the
Schedule of Exceptions, and the other documents delivered pursuant hereto
constitute the full and entire understanding and agreement between the parties
with regard to the subjects hereof and no party shall be liable or bound to any
other in any manner by any representations, warranties, covenants and agreements
except as specifically set forth herein and therein.

     6.5 SEVERABILITY. In case any provision of the Agreement shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby.

     6.6 AMENDMENT AND WAIVER.

         (a) This Agreement may be amended or modified only upon the written
consent of the Company and holders of at least sixty-six and two-thirds percent
(66 2/3%) of the Shares (treated as if converted and including any Conversion
Shares into which the Shares have been converted that have not been sold to the
public).

         (b) The obligations of the Company and the rights of the holders of the
Shares and the Conversion Shares under the Agreement may be waived only with the
written consent of the holders of at least sixty-six and two thirds percent (66
2/3%) of the Shares (treated as if converted and including any Conversion Shares
into which the Shares have been converted that have not been sold to the
public).

     6.7 DELAYS OR OMISSIONS. It is agreed that no delay or omission to exercise
any right, power or remedy accruing to any party, upon any breach, default or
noncompliance by another party under this Agreement, the Investors' Rights
Agreement, the Stockholders' Agreement or the Certificate, shall impair any such
right, power or remedy, nor shall it be construed to be a waiver of any such
breach, default or noncompliance thereafter occurring. It is further agreed that
any waiver, permit, consent or approval of any kind or character on any
Purchaser's part of any breach, default or noncompliance under this Agreement,
the Investors' Rights Agreement, the Stockholders' Agreement or under the
Certificate or any waiver on such party's part of any provisions or conditions
of the Agreement, the Investors' Rights Agreement, the Stockholders' Agreement
or the Certificate must be in writing and shall be effective only to the extent
specifically set forth in such writing. All remedies, either under this
Agreement, the Investors'

                                      16.
<PAGE>

Rights Agreement, the Stockholders' Agreement, the Certificate, by law, or
otherwise afforded to any party, shall be cumulative and not alternative.

     6.8 NOTICES. All notices required or permitted hereunder shall be in
writing and shall be deemed effectively given: (i) upon personal delivery to the
party to be notified; (ii) when sent by confirmed telex or facsimile if sent
during normal business hours of the recipient, if not, then on the next business
day; (iii) upon receipt after having been sent by registered or certified mail,
return receipt requested, postage prepaid; or (iv) one (1) day after deposit
with a nationally recognized overnight courier, specifying next day delivery,
with written verification of receipt. All communications shall be sent to the
Company at the address as set forth on the signature page hereof and to
Purchaser at the address set forth on EXHIBIT A attached hereto or at such other
address as the Company or Purchaser may designate by ten (10) days advance
written notice to the other parties hereto.

     6.9 TITLES AND SUBTITLES. The titles of the sections and subsections of the
Agreement are for convenience of reference only and are not to be considered in
construing this Agreement.

     6.10 COUNTERPARTS. This Agreement may be executed in any number of
counterparts, each of which shall be an original, but all of which together
shall constitute one instrument.

     6.11 BROKER'S FEES. Each party hereto represents and warrants that no
agent, broker, investment banker, person or firm acting on behalf of or under
the authority of such party hereto is or will be entitled to any broker's or
finder's fee or any other commission directly or indirectly in connection with
the transactions contemplated herein. Each party hereto further agrees to
indemnify each other party for any claims, losses or expenses incurred by such
other party as a result of the representation in this Section 6.11 being untrue.

     6.12 ATTORNEYS' FEES. In the event that any dispute among the parties to
this Agreement, the Investors' Rights Agreement or the Stockholders' Agreement,
the prevailing party in such dispute shall be entitled to recover from the
losing party all fees, costs and expenses of enforcing any right of such
prevailing party under or with respect to this Agreement, the Investors' Rights
Agreement, the Stockholders' Agreement, including without limitation, such
reasonable fees and expenses of attorneys and accountants, which shall include,
without limitation, all fees, costs and expenses of appeals.

     6.13 EXPENSES. The Company shall pay all reasonable costs and expenses
incurred with respect to the negotiation, execution and delivery of any
amendment to this Agreement, the Certificate, the Investors' Rights Agreement
and the Stockholders' Agreement, to the extent any such amendment would
adversely affect the holders of Series C Stock.

     6.14 HSR FILING FEES. The Company shall pay all costs and expenses of each
Purchaser, as they are incurred, with respect to any filing under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules
and regulations promulgated thereunder, in connection with such Purchaser's
investment in the Company, regardless of when such costs or expenses are
incurred.

     6.15 EXCULPATION AMONG PURCHASERS. Each Purchaser acknowledges that it is
not relying upon any person, firm, or corporation, other than the Company and
its officers and

                                      17.
<PAGE>

directors, in making its investment or decision to invest in the Company. Each
Purchaser agrees that no Purchaser nor the respective controlling persons,
officers, directors, partners, agents, or employees of any Purchaser shall be
liable for any action heretofore or hereafter taken or omitted to be taken by
any of them in connection with the Shares and Conversion Shares.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                      18.
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have executed the SERIES C PREFERRED
STOCK PURCHASE AGREEMENT as of the date set forth in the first paragraph hereof.

COMPANY:                               PURCHASERS:

JATO COMMUNICATIONS CORP.
                                       --------------------------------------
                                       Please Print Name of Purchaser

By: /s/ Brian E. Gast                  By:
   ------------------------------         -----------------------------------

Name:   Brian E. Gast                  Name:
     ----------------------------           ---------------------------------

Title:                                 Title:
      ---------------------------            --------------------------------

1099 18th Street, Suite 700            Address:
Denver, CO  80202                              ------------------------------

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

                   SERIES C PREFERRED STOCK PURCHASE AGREEMENT
<PAGE>

                                    EXHIBIT A

                   SERIES C PREFERRED STOCK PURCHASE AGREEMENT

                             SCHEDULE OF PURCHASERS

<TABLE>
<CAPTION>

NAME AND ADDRESS                                      NUMBER OF SHARES                     PURCHASE PRICE
----------------                                      ----------------                     --------------
<S>                                                   <C>                                  <C>
Mayfield X, L.P.                                         1,367,143                          $9,570,001.00
2800 Sand Hill Road
Suite 250
Menlo Park, CA 94025
Attn:  Todd Brooks

Mayfield Associates Fund IV, L.P.                          47,143                            $330,001.00
2800 Sand Hill Road
Suite 250
Menlo Park, CA 94025
Attn:  Todd Brooks

Mayfield Principals Fund, L.L.C.                          157,143                           $1,100,001.00
2800 Sand Hill Road
Suite 250
Menlo Park, CA 94025
Attn:  Todd Brooks

Crest Communications Partners L.P.                        428,571                           2,999,997.00
320 Park Avenue
17th Floor
New York, NY 10022
  Attn: Gregg Mockenhaupt

CEA Capital Partners USA, L.P.                            327,557                           $2,292,899.00
17 State Street
35th Floor
New York, NY 10004
  Attn: Steve McCall

CEA Capital Partners USA CI, L.P.                         101,014                            $707,098.00
17 State Street
35th Floor
New York, NY 10004
  Attn: Steve McCall

                                       A-1
<PAGE>

ABN AMRO Capital (USA), Inc.                              198,096                           $1,386,672.00
208 S. LaSalle Street
10th Floor
Chicago, IL 60604
  Attn: Daniel Foreman

I Eagle Trust                                              71,690                            $501,830.00
208 S. LaSalle Street
10th Floor
Chicago, IL 60604
  Attn: Daniel Foreman

ABN AMRO Incorporated                                      15,928                            $111,496.00
208 S. LaSalle Street
10th Floor
Chicago, IL 60604
  Attn: Daniel Foreman

Access Technology Partners, L.P.                          228,571                           $1,599,997.00
Hambrecht & Quist
One Bush Street
San Francisco, CA 94104
  Attn: Alex Sloan

Access Technology Partners Brokers Fund,                   4,286                             $30,002.00
L.P.
Hambrecht & Quist
One Bush Street
San Francisco, CA 94104
  Attn: Alex Sloan

Hambrecht & Quist California                               14,286                            $100,002.00
Hambrecht & Quist
One Bush Street
San Francisco, CA 94104
  Attn: Alex Sloan

Hambrecht & Quist Employee Venture Fund,                   14,286                            $100,002.00
L.P. II
Hambrecht & Quist
One Bush Street
San Francisco, CA 94104
  Attn: Alex Sloan

<PAGE>

H&Q JATO Communications Investors, L.P.                    24,285                            $169,995.00
Hambrecht & Quist
One Bush Street
San Francisco, CA 94104
  Attn: Alex Sloan

TCI Satellite Entertainment, Inc.                         714,286                          $5,000,002.00(1)
8085 S. Chester Street
Suite 110
Englewood, CO 80112
Attn:  Ken Carroll

Keith Bennett                                              5,000                             $35,000.00
16728 E. Prentice Circle
Aurora, CO  80015
Jeffrey D. Morgan                                          14,286                            $100,002.00
2883 Lee Hill Road
Boulder,  CO 80302

Karin W. Morgan                                            14,285                            $99,995.00
2883 Lee Hill Road
Boulder,  CO 80302

John P. Raeder, Jr. and Deborah M. Raeder,                 50,000                            $350,000.00
as Joint Tenants
5625 S. Bellaire Ct.
Greenwood Village, CO 80121

Michael S. Grunwald                                        28,571                            $199,997.00
340 Lombard Street
Apt. A
San Francisco, CA  94133

-----------------------------
(1) Payment to made by delivery of $2,000,000.00 and a note in the amount of
$3,000,002.00.

<PAGE>

Gerald K. Dinsmore                                         30,000                            $210,000.00
c/o Jato Communications Corp.
1099 18th Street
Denver, CO 80202

Jerome C. Ramsey                                           8,000                             $56,000.00
506 Providence Drive
Castle Rock, CO 80104

Robert G. Vidal and Tina M. Vidal,                         5,000                               $35,000
as Joint Tenants
5 Snowy Owl Lane
Littleton, CO 80127

Gerard A. Maglio                                           14,286                            $100,002.00
5640 S. Bellaire Court
Greenwood Village, CO 80121

Rex Humston                                                7,143                             $50,001.00
6889 S. Salida Street
Foxfield, CO 80016

Edward Ziehm                                               14,286                            $100,002.00
864 Meadow Rose Lane
Castle Rock, CO 80104

<PAGE>

Trustee F.B.O. FWD Corporation Savings &                   14,286                            $100,002.00
Profit Sharing Trust,
James M. Green, Segregated Account
c/o - James P. Cooney, President
Pension Inc., Trustee
136 N. Maple Avenue
Green Bay, WI  54303

COPY OF ANY CORRESPONDENCE TO :
James M. Green, Segregated Account
W8397 Cloverleaf Lake Road
Clintonville, WI  54929

Patrick M. Green                                           2,143                             $15,001.00
12098 W. 75th Place
Arvada, CO 80005

William D. Myers and Dana D. Myers, as                     7,143                             $50,001.00
Joint Tenants
3822 South Sebring Court
Denver, CO 80237

Marty S. Clayman                                           10,000                            $70,000.00
2401 Shady Oak Place                                       ------                            ----------
Lexington, KY 40515

Total                                                    3,938,714                         $27,570,998.00
                                                         ---------                         --------------
                                                         ---------                         --------------
</TABLE>

<PAGE>

                                    EXHIBIT B

                      RESTATED CERTIFICATE OF INCORPORATION

                                      B-1
<PAGE>

                                    EXHIBIT C

                AMENDED AND RESTATED INVESTORS' RIGHTS AGREEMENT

                                      C-1
<PAGE>

                                    EXHIBIT D

                  AMENDED AND RESTATED STOCKHOLDERS' AGREEMENT

                                      D-1
<PAGE>

                                    EXHIBIT E

                         FORM OF PROPRIETARY INFORMATION
                            AND INVENTIONS AGREEMENT

                                      E-1
<PAGE>

                                    EXHIBIT F

                                  LEGAL OPINION

                                      F-1
<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>

                                                                           PAGE
<S>                                                                        <C>
SECTION 1.AGREEMENT TO SELL AND PURCHASE......................................1

         1.1      Authorization of Shares.....................................1

         1.2      Sale and Purchase...........................................1

SECTION 2.CLOSING, DELIVERY AND PAYMENT.......................................1

         2.1      Closing.....................................................1

         2.2      Delivery....................................................2

SECTION 3.REPRESENTATIONS AND WARRANTIES OF THE COMPANY.......................2

         3.1      Organization, Good Standing and Qualification...............2

         3.2      Subsidiaries................................................2

         3.3      Capitalization; Voting Rights...............................3

         3.4      Authorization; Binding Obligations..........................3

         3.5      Financial Statements........................................4

         3.6      Liabilities.................................................4

         3.7      Agreements; Action..........................................4

         3.8      Obligations to Related Parties..............................5

         3.9      Absence of Changes..........................................5

         3.10     Real Properties; Tangible Personal Property.................7

         3.11     Patents and Trademarks......................................7

         3.12     Compliance with Other Instruments...........................8

         3.13     Litigation..................................................8

         3.14     Tax Returns and Payments....................................8

         3.15     Employees...................................................9

         3.16     Proprietary Information and Inventions Agreements...........9

         3.17     Obligations of Management...................................9

         3.18     Registration Rights........................................10

         3.19     Compliance with Laws; Permits..............................10

         3.20     Offering Valid.............................................10

         3.21     Full Disclosure............................................10

         3.22     Application of Proceeds....................................10

         3.23     Certain Limitations........................................11

         3.24     Environmental..............................................11

                                       i.

<PAGE>

         3.25     Insurance..................................................11

         3.26     Small Business Matters.....................................11

         3.27     Qualified Small Business...................................12

SECTION 4.REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS...................12

         4.1      Requisite Power and Authority..............................12

         4.2      Investment Representations.................................12

         4.3      Transfer Restrictions......................................13

SECTION 5.CONDITIONS TO CLOSING..............................................13

         5.1      Conditions to Purchasers' Obligations at the Closing.......13

         5.2      Conditions to Obligations of the Company...................15

SECTION 6.MISCELLANEOUS......................................................15

         6.1      Governing Law..............................................15

         6.2      Survival...................................................16

         6.3      Successors and Assigns.....................................16

         6.4      Entire Agreement...........................................16

         6.5      Severability...............................................16

         6.6      Amendment and Waiver.......................................16

         6.7      Delays or Omissions........................................16

         6.8      Notices....................................................17

         6.9      Titles and Subtitles.......................................17

         6.10     Counterparts...............................................17

         6.11     Broker's Fees..............................................17

         6.12     Attorneys' Fees............................................17

         6.13     Expenses...................................................17

         6.14     HSR Filing Fees............................................17

         6.15     Exculpation Among Purchasers...............................17
</TABLE>

                                      ii.
<PAGE>

                                INDEX OF EXHIBITS

<TABLE>
<S>                                                   <C>
Schedule of Purchasers                                Exhibit A

Restated Certificate of Incorporation                 Exhibit B

Amended and Restated Investors' Rights Agreement      Exhibit C

Amended and Restated Stockholders' Agreement          Exhibit D

Form of Non-Competition Proprietary
    Information and Inventions Agreement              Exhibit E

Form of Legal Opinion                                 Exhibit F
</TABLE>

<PAGE>

                            JATO COMMUNICATIONS CORP.

                               FIRST AMENDMENT TO
                   SERIES C PREFERRED STOCK PURCHASE AGREEMENT

         This FIRST AMENDMENT TO THE SERIES C PREFERRED STOCK PURCHASE
AGREEMENT, dated as of September 16, 1999 (the "PURCHASE AGREEMENT"), is entered
into as of December 22, 1999, by and among Jato Communications Corp. (the
"COMPANY"), the holders of the Company's Series C Preferred Stock (the "INITIAL
PURCHASERS") and Bato, LLC (the "ADDITIONAL PURCHASER").

                                    RECITALS

         WHEREAS, the Company and the Initial Purchasers entered into the
Purchase Agreement, pursuant to which the Company issued and sold an aggregate
of 3,938,714 shares of the Company's Series C Preferred Stock to the Initial
Purchasers;

         WHEREAS, the Company wishes to sell to the Additional Purchaser, and
the Additional Purchaser wishes to purchase, an aggregate of 8,928 shares of the
Company's Series C Preferred Stock;

         WHEREAS, the Company and the Initial Purchasers wish to amend the
Purchase Agreement to include the Additional Purchaser as a party to such
agreement;

         WHEREAS, pursuant to Section 6.6 of the Purchase Agreement, the
Purchase Agreement may be amended with the written consent of the Company and
the holders of at least sixty-six and two-thirds percent (66 2/3%) of the shares
of Series C Preferred Stock held by the Initial Purchasers (the "REQUIRED
HOLDERS"); and

         WHEREAS, the undersigned constitute the Required Holders.

         NOW, THEREFORE, in consideration of the mutual agreements, covenants
and considerations contained herein, the parties hereto agree as follows:

1.       PURCHASE AND SALE; CLOSING

         1.1 Subject to the terms and conditions hereof, and in reliance upon
the representations contained herein or incorporated by reference, the Company
hereby agrees to issue and sell to the Additional Purchaser and the Additional
Purchaser hereby agrees to purchase from the Company, 8,928 shares of Series C
Preferred Stock at a purchase price of Five Dollars Sixty Cents ($5.60) per
share (the "ADDITIONAL SHARES").

         1.2 The closing of the sale and purchase of the Additional Shares (the
"SUBSEQUENT CLOSING") shall take place on the date hereof at the offices of
Cooley Godward LLP, 2595 Canyon Boulevard, Suite 250, Boulder, Colorado 80302,
or at such other time or place as the Company

                                       1.

<PAGE>

and the Additional Purchaser may mutually agree. At the Subsequent Closing,
subject to the terms and conditions hereof, the Company will deliver to the
Additional Purchaser certificates representing the number of Additional Shares
purchased by each such Additional Purchaser from the Company against payment by
or on behalf of such Additional Purchaser of the purchase price therefor by
check or wire transfer or by such other means as shall be mutually agreeable to
the Company and the Additional Purchaser.

2.       PURCHASE AGREEMENT

         2.1 All capitalized terms used herein without definition shall have the
meanings given to them in the Purchase Agreement.

         2.2 The Purchase Agreement and the Schedule of Purchasers thereto are
hereby amended (i) to include the Additional Purchaser as a "Purchaser" for all
purposes thereunder with the Additional Purchaser agreeing to be bound by all
terms and conditions and making all representations and warranties therein,
including, without limitation, the representations and warranties in Section 4
of the Purchase Agreement regarding investment intent, the Additional
Purchaser's qualifications and other matters; and (ii) the Additional Shares
shall be deemed to be "Series C Stock" and "Shares" for all purposes under the
Purchase Agreement.

3.       MISCELLANEOUS

         3.1 This First Amendment may be executed in any number of counterparts,
each of which shall be an original, but all of which together shall constitute
one instrument.

         3.2 All other terms and conditions of the Purchase Agreement shall
remain in full force and effect.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       2.

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have executed this First
Amendment to the Series C Preferred Stock Purchase Agreement as of the date set
forth in the first paragraph hereof.

COMPANY:                                    INITIAL PURCHASERS:

JATO COMMUNICATIONS CORP.                   MAYFIELD X, L.P.

                                            By:  Mayfield X Management, L.L.C.
By:      /s/ William D. Myers               Its:  General Partner
   ---------------------------------
   William D. Myers
   Chief Financial Officer                  By: /s/ Todd Brooks
                                               ---------------------------------
                                            Print Name: Todd Brooks
                                                       -------------------------
                                            Its: Managing Director

                                            MAYFIELD ASSOCIATES FUND IV, L.P.

                                            By:  Mayfield IX Management, L.L.C.
                                            Its:  General Partner

                                            By: /s/ F. Gibson Myers
                                               ---------------------------------
                                            Print Name: F. Gibson Myers
                                                       -------------------------
                                            Its: Managing Director

                                            MAYFIELD PRINCIPALS FUND, L.L.C.

                                            By:  Mayfield X Management, L.L.C.
                                            Its:  General Partner

                                            By: /s/ Todd Brooks
                                               ---------------------------------
                                            Print Name: Todd Brooks
                                                       -------------------------
                                            Its: Managing Diretor

                                            CREST COMMUNICATIONS PARTNERS L.P.

                                            By:   Crest Communications Holdings
                                            LLC, its authorized representative

                                            By: /s/ Gregg A. Mockenhaupt
                                               ---------------------------------
                                            Print Name: Gregg A. Mockenhaupt
                                                       -------------------------
                                            Its: Managing Director

<PAGE>

                                            CEA CAPITAL PARTNERS USA, L.P.

                                            By: CEA Management Corp., its
                                            authorized representative

                                            By: /s/ James J. Collis
                                               ---------------------------------
                                            Print Name: James J. Collis
                                                       -------------------------
                                            Title: Executive Vice President
                                                  ------------------------------

                                            CEA CAPITAL PARTNERS USA CI, L.P.

                                            By: CEA Management Corp., its
                                            authorized representative

                                            By: /s/ James J. Collis
                                               ---------------------------------
                                            Print Name: James J. Collis
                                                       -------------------------
                                            Title: Executive Vice President
                                                  ------------------------------

                                            ABN AMRO CAPITAL (USA), INC.

                                            By: /s/ Daniel J. Foreman
                                               ---------------------------------
                                            Print Name: Daniel J. Foreman
                                                       -------------------------
                                            Title: Managing Director
                                                  ------------------------------

                                            I EAGLE TRUST

                                            By: /s/ Daniel J. Foreman
                                               ---------------------------------
                                            Print Name: Daniel J. Foreman
                                                       -------------------------
                                            Title: Managing Director
                                                  ------------------------------

                                            ABN AMRO INCORPORATED

                                            By: /s/ Daniel J. Foreman
                                               ---------------------------------
                                            Print Name: Daniel J. Foreman
                                                       -------------------------
                                            Title: Managing Director
                                                  ------------------------------

<PAGE>

                                            ADDITIONAL PURCHASER:

                                            BATO, LLC

                                            By: /s/ Mike St. John
                                               ---------------------------------
                                            Print Name: Mike St. John
                                                       -------------------------
                                            Title: Member, Manager
                                                  ------------------------------

<PAGE>

                                    EXHIBIT A

                   SERIES C PREFERRED STOCK PURCHASE AGREEMENT

                        ADDITIONAL SCHEDULE OF PURCHASERS

<TABLE>
<CAPTION>

NAME AND ADDRESS                  NUMBER OF SHARES            PURCHASE PRICE
----------------                  ----------------            --------------
<S>                               <C>                         <C>
Bato, LLC                              8,928                     $49,996.80
8136 S. Grant Way
Littleton, CO  80122
</TABLE>

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