Document:

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                                                                    EXHIBIT 10.6

                              EMPLOYMENT AGREEMENT
                              --------------------

          THIS EMPLOYMENT AGREEMENT (the "Agreement") is made and entered into
this 31st day of January, 2002, by and among TOWER TECH, INC., an Oklahoma
corporation (the "Company"), and CHARLES D. WHITSITT (the "Executive").

          Whereas, the Company desires to employ the Executive as the Chief
Financial Officer of the Company, and the Executive desires to continue such
employment, on the terms and subject to the conditions hereinafter set forth;
and

          Whereas, the Company has been reorganized pursuant to a plan of
reorganization (the "Plan") under Chapter 11 of the Bankruptcy Code in the
Western District of Oklahoma as approved by the Court;

          Now, therefore, in consideration of the premises, and the mutual
covenants herein contained, the parties hereto agree as follows:

          1. Employment of Executive. The Company hereby employs the Executive,
             -----------------------
and the Executive accepts such employment by the Company, upon the terms and
subject to the conditions hereinafter set forth.

          2. Term. Subject to earlier termination as provided in this Agreement,
             ----
the employment of the Executive hereunder shall be for the initial term (the
"Initial Term") of two years commencing on the date set forth above (the
"Commencement Date") and ending on the second anniversary of the Commencement
Date, provided, however, that unless otherwise terminated pursuant to this
      --------  -------
proviso, the Employment Period (as hereinafter defined) shall be automatically
extended for successive periods of one year each (a "Renewal Period"), one on
each anniversary of the Commencement Date beginning with that anniversary which
coincides with the scheduled expiration of the Initial Term (each such
anniversary, a "Renewal Date"), unless either party gives the other party
written notice on or prior to the Termination Notice Date (as hereinafter
defined) of its election not to so extend the Employment Period beyond the then
scheduled expiration of the Employment Period. The Initial Term as so extended
from time to time (if at all) is called the "Employment Period" in this
Agreement. As used herein, the term "Termination Notice Date" shall mean that
date which is 120 days prior to the next Renewal Date.

          3. Duties. During the Employment Period, the Executive shall be
             ------
employed by the Company as its Chief Financial Officer, and the Company shall
cause each of its subsidiaries to appoint the Executive as its Chief Financial
Officer, and the Executive shall perform such duties as are consistent with such
positions. The Executive shall have such other titles and duties as each of the
Boards of Directors of the Company and its subsidiaries may in its discretion
designate, consistent with the Executive's status as the Chief Financial Officer
of the Company. In furtherance of the foregoing, the Executive shall use his
best efforts to perform well and faithfully the foregoing duties and
responsibilities.

          4. Time to be Devoted to Employment. During the Employment Period, the
             --------------------------------
Executive shall devote substantially all of his working time, attention and
energies to the performance of his duties and responsibilities under this
Agreement (except for vacations to which he is entitled pursuant to Section 5(d)
hereof and except for illness or incapacity). During the Employment Period, the
Executive shall not engage in any business activity that, in the reasonable
judgment of the Board of

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Directors of the Company, conflicts with the Executive's duties hereunder,
whether or not such activity is pursued for gain, profit, or other pecuniary
advantage. Without limiting the generality of the foregoing, and subject to
Section 8 hereof, the Executive may (i) attend to outside investments, (ii)
serve as a director, trustee, or officer of or otherwise participate in
educational, welfare, social, religious, and civic organizations, and (iii)
serve as an outside or independent director on the board of directors of another
Person, so long as any such activity described in this sentence does not
interfere with the Executive's performance of his duties hereunder.

          5. Compensation Benefits; Reimbursement.
             ------------------------------------

             (a) The Company (or at the Company's option, any of its Affiliates)
shall pay to the Executive a base salary (the "Base Salary") during the
Employment Period at an initial rate of $110,000 per annum, payable in such
installments (but not less often than monthly) as is generally the policy of the
Company with respect to the regular compensation of its executive officers
generally. Effective as of each February 1 occurring during the Employment
Period, commencing with February 1, 2003 (each such February 1 being referred to
herein as an "Adjustment Date"), the Base Salary shall be adjusted to an amount
equal to the Base Salary plus any increase which the Board of Directors in good
faith determines to be necessary to make the Executive's Base Salary
commensurate with salaries of executives serving as chief financial officers of
companies in the Oklahoma City area which have comparable business, revenues,
profitability, and other attributes.

             (b) In addition to the Base Salary, (i) during the first three
fiscal years during the Employment Period, the Executive shall be paid an annual
bonus (the "Profit Bonus") equal to two percent (2.0%) of that portion of the
Company's earnings before interest, taxes, depreciation and amortization
("EBITDA"), calculated in accordance with Generally Accepted Accounting
Principles ("GAAP") in excess of $750,000, $1,000,000, and $1,500,000 for the
first, second, and third fiscal years, respectively, commencing with the fiscal
year ending January 31, 2003; provided, however, that for purposes of
calculating the "Profit Bonus," each fiscal year's EBITDA will be adjusted from
GAAP to include any technology transfer fee cash payments received by the
Company during such period, and (ii) during each year of the Employment Period
thereafter, at the sole discretion of the Board of Directors, the Executive may
also receive additional cash bonuses.

             (c) During the Employment Period, the Company shall provide the
Executive with such employee benefits as are provided by the Company from time
to time to its employees generally. In addition, the Executive shall be entitled
to receive from the Company an automobile expense allowance of $1,000 per month
and Company paid health insurance for Executive and his family which is no less
favorable to the Executive and his family than the Company currently provides.

             (d) During the Employment Period, the Executive shall be entitled
to four weeks paid vacation for each twelve-month period worked, beginning on
the Commencement Date, in addition to holidays observed by the Company.
Executive shall also be entitled to leave for personal or health reasons which
is no less favorable to Executive than that provided to employees generally.

             (e) Reimbursement of Expenses. The Company shall, in accordance
                 -------------------------
with the Company's regular policies with respect to the reimbursement of
expenses reimburse the

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Executive for all reasonable and necessary expenses and other disbursements
incurred by the Executive for or on behalf of the Company in connection with the
performance of the Executive's duties hereunder upon presentation of appropriate
receipts therefor.

      (f)     Sales Bonus. If a majority of the shares of New Common Stock (as
              -----------
defined in the Plan) issued pursuant to the Plan are subsequently transferred to
any Person other than an Affiliate of the original holder, or if more than 50%
of the Company's assets (based on book value or fair market value as determined
by the Board of Directors) is sold (a "Sale Event"), the Company shall pay a
bonus (the "Sale Bonus") to Management as follows:

           (i)     If the aggregate sale price is equal to or less than
$15,000,000, the Sale Bonus amount shall be $600,000.

           (ii     If the aggregate sale price is greater than $15,000,000 but
less than $25,000,000, the Sale Bonus amount shall be equal to four percent
(4.0%) of the aggregate sale price.

           (iii)   If the aggregate sale price is greater than $25,000,000,
the Sale Bonus amount shall be equal to six percent (6.0%) of the aggregate sale
price.

           (iv)    The Sale Bonus shall be deemed earned and payable to
Management simultaneous with the Sale.

     Subject to Section 7(b) hereof, the Sale Bonus shall be payable to and
divided evenly between Executive and Robert C. Brink; provided, however, at any
time prior to the earliest to occur of (i) the public announcement of a Sale
Event or (ii) the execution of a definitive contract for a Sale Event, Executive
and Robert C. Brink may, by written notice to the Board of Directors, direct the
payment of a portion of the Sale Bonus to other members of management.

      (g)    Reimbursement of Back Pay. As reimbursement for aggregate back pay
             -------------------------
owed to the Executive in the amount of $10,000, the Company shall issue to the
Executive, promptly after execution of this Agreement, 5,000 shares of Company
common stock, par value $0.01 per share, at an agreed value of $2.00 per share,
plus an additional amount of cash sufficient to offset all of Executive's
personal income tax (federal, state and local) liabilities for (i) the issuance
of such stock (but not the subsequent sale thereof) and (ii) the cash payments,
sufficient to assure that the Executive receives distributions in the amount of
$10,000, net of all income tax liabilities for the year in which distribution is
made. The Company shall also pay Executive, promptly after execution hereof, the
sum of $2,899.98, less payroll taxes, for salary previously unpaid to Executive
as a result of limitations required by the bankruptcy proceedings.

      (h)    Stock Option Grant. As promptly as practicable after execution of
             ------------------
this Agreement, the Company shall issue to the Executive options to purchase up
to 308,029 shares of the Company's common stock, par value $0.01 per share, at
an exercise price of $2.00 per share. Such options shall be granted pursuant to
the Tower Tech, Inc. 2002 Management Incentive Stock Option Plan and the
Management Incentive Stock Option Plan Agreement, each substantially in the form
of Exhibits A and B, respectively, hereto. As promptly as practicable after the
execution of this Agreement, the Company will file, and use its best efforts to
cause to become effective with the Securities and Exchange Commission, a
registration statement on Form S-8, or successor form, for the issuance of the
shares upon exercise of the options and to keep such registration statement
effective so long as such options are outstanding. The Company shall also take
any and all actions

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necessary or desirable to cause such shares to be registered for resale or
exempt from registration requirements under applicable state securities or blue
sky laws. The Board of Directors shall also consider not less than annually
whether to grant Executive additional stock options and shall grant such options
as the Board of Directors deems appropriate based upon the Executive's and the
Company's performance.

          6.  Termination.
              -----------

              (a) Death or Disability. If the Executive is incapacitated or
                  -------------------
disabled by accident, sickness or otherwise so as to render him mentally or
physically incapable of performing the services required to be performed by the
Executive hereunder (such condition being referred to in this Agreement as a
"Disability") for a period of 120 consecutive days, or for an aggregate of 180
days during any twelve-month period, the Company may, at its option, terminate
the employment of the Executive under this Agreement upon giving the Executive
at least 15 days prior written notice to that effect. Until the Executive's
employment hereunder shall have been terminated in accordance with the
foregoing, the Executive shall be entitled to continue to receive his
compensation and benefits under Section 5 notwithstanding any such Disability.
If the Executive dies during the Employment Period, the Executive's employment
hereunder shall be deemed to cease as of the date of the Executive's death. Any
termination pursuant to this Section 6(a) is called an "Involuntary Termination"
in this Agreement.

              (b) Cause. The Company may terminate the employment of the
                  -----
Executive hereunder at any time for Cause (as hereinafter defined) (such a
termination being referred to in this Agreement as a "Termination For Cause") by
giving the Executive written notice of such termination, such termination to
take effect immediately upon the giving of such notice to the Executive. As used
in this Agreement, "Cause" means the Executive's gross negligence in the
performance of his duties hereunder.

              (c) The Company may terminate the employment of the Executive
hereunder without Cause (such a termination being referred to in this Agreement
as a "Termination Without Cause") by giving the Executive written notice of such
termination, such termination to take effect on the date specified in such
notice, which date shall not be earlier than the date of such notice.

              (d) Voluntary. The Executive may voluntarily resign from his
                  ---------
employment hereunder at any time after the third anniversary of the date hereof
by giving the Company written notice of such resignation at least 120 days prior
to the effective date of such resignation. Any termination of the Executive's
employment hereunder pursuant to the Executive's voluntary resignation in
accordance with this Section 6(d) is referred to herein as a "Voluntary
Termination."

          7.  Effect of Termination. (a) Upon the termination of the Executive's
              ---------------------
employment hereunder due to a Termination for Cause or a Voluntary Termination,
neither the Executive nor his beneficiary or estate shall have any further
rights or claims against the Company or any of its Affiliates (as defined below)
under this Agreement, except to receive (A) the unpaid portion, if any, of the
Base Salary provided for in Section 5(a), computed on a pro rata basis through
the effective date of termination (the "Termination Date") (based on the actual
number of days elapsed over a year of 365 or 366 days, as applicable), and (B)
any unpaid accrued benefits of the Executive

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pursuant to Section 5(c), and (C) reimbursement for any expenses for which the
Executive shall not have been previously reimbursed as provided in Section 5(e).

                      (b) Upon the termination of the Executive's employment
hereunder due to an Involuntary Termination or a Termination Without Cause, the
Company shall (A) be obligated to pay the balance of Executive's Base Salary,
Profit Bonus, health insurance premiums and automobile allowance in bi-weekly
payroll installments for the remainder of the Employment Period, unless
Executive is terminated involuntarily within one year of the end of the
Employment Period, in which case the Company shall pay all remaining
compensation due under the contract, including Executive's Base Salary, Profit
Bonus, health insurance premiums and automobile allowance, in a lump sum upon
termination, (B) be obligated to pay the Sale Bonus to Executive; provided,
however, that the Sale Event must not have occurred more than one year after the
date on which Executive is terminated, and (C) vest all stock options granted to
Executive, including those which were scheduled to vest after the date of his
termination.

                 8.   Confidential and Proprietary Information. The Executive
                      ----------------------------------------
acknowledges and recognizes that during the Employment Period he will be privy
to trade secrets and confidential proprietary information critical to the
Company, and further acknowledges that the Company would be irreparably damaged
if the confidential information possessed by him relating to the business of the
Company were disclosed to or utilized by or on behalf of others in direct
competition with the Company. Accordingly, the Executive will not, at any time
prior to, during or after the Employment Period, without the Company's express
written consent (i) disclose to any Person (as hereinafter defined), except as
required by law, subpoena or investigation, any nonpublic information concerning
the business, clients or affairs of the Company for any reason or purpose
whatsoever, or (ii) make use of any of such non-public information for his own
purpose or benefit or for the purpose or benefit of any Person except the
Company or any of its Subsidiaries. For the purposes of this Section 8,
non-public information shall not be deemed to include information which (i) is
at the time of receipt or thereafter becomes publicly known through no wrongful
act of the Executive, or (ii) is received from a third party not under an
obligation to keep such information confidential.

                 9.   Severability. It is the desire and intent of the parties
                      ------------
hereto that the provisions of this Agreement be enforced to the fullest extent
permissible under the laws and public policies applied in each jurisdiction in
which enforcement is sought. Accordingly, if any particular provision of this
Agreement shall be adjudicated by a court of competent jurisdiction to be
invalid, prohibited or unenforceable for any reason, such provision, as to such
jurisdiction, shall be ineffective, without invalidating the remaining
provisions of this Agreement or affecting the validity or enforceability of such
provision in any other jurisdiction. Notwithstanding the foregoing, if such
provision could be more narrowly drawn so as not to be invalid, prohibited or
unenforceable in such jurisdiction, it shall, as to such jurisdiction, be so
narrowly drawn, without invalidating the remaining provisions of this Agreement
or affecting the validity or enforceability of such provision in any other
jurisdiction.

                 10.  Remedies. The Executive acknowledges and understands
                      --------
that the provisions of this Agreement are of a special and unique nature, the
loss of which cannot be adequately compensated for in damages by an action at
law, and that the breach or threatened breach of the provisions of this
Agreement would cause the Company or any of its Subsidiaries irreparable harm.
In the event of a breach of threatened breach by the Executive of the provisions
of this Agreement, the Company or any of its Subsidiaries shall be entitled to
an injunction restraining the Executive from such breach. Nothing contained in
this Agreement shall be construed as prohibiting the Company or any of its

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Subsidiaries from pursuing, or limiting the Company's or any of its
Subsidiaries' ability to pursue, any other remedies available for any breach or
threatened breach of this Agreement by the Executive.

          11. Executive's Representations. The Executive hereby represents and
              ---------------------------
warrants to the Company that (a) the execution, delivery and performance of this
Agreement by the Executive does not and will not conflict with, breach, violate
or cause a default under any agreement, contract or instrument to which the
Executive is a party or any judgment, order or decree to which the Executive is
subject and (b) the Executive is not a party to or bound by any employment
agreement, consulting agreement, non-compete agreement, confidentiality
agreement or similar agreement with any other Person.

          12. Definitions. As used in this Agreement, the following terms have
              -----------
the meanings set forth below:

          "Affiliate" means, with respect to any Person, any other Person that
           ---------
          directly or indirectly through one or more intermediaries, controls,
          is controlled by, or is under common control with such Person. For the
          purpose of the above definition, the term "control" (including, with
          correlative meaning, the terms "controlling," "controlled by" and
          "under common control with"), as used with respect to any Person,
          means the possession, directly or indirectly, of the power to direct
          or cause the direction of the management and policies of such Person,
          whether through the ownership of voting securities, by contract or
          otherwise.

          "Person" shall be construed broadly and shall include an individual, a
           ------
          partnership, a corporation, an association, a joint stock company, a
          limited liability company, a trust, a joint venture, an unincorporated
          organization and a governmental entity or any department, agency or
          political subdivision thereof.

          "Subsidiary" means, with respect to any Person, any other Person whose
           ----------
          shares of stock or other Securities having a majority of the general
          voting power in electing the board of directors or equivalent
          governing body of such other Person are, at the time as of which any
          determination is being made, owned by such Person either directly or
          indirectly through one or more other entities constituting
          Subsidiaries.

          13. Notices. All notices, claims, certificates, requests, demands and
              -------
other communications hereunder shall be in writing and shall be deemed to have
been duly given and delivered if (a) delivered personally, (b) sent by
nationally-recognized overnight courier guaranteeing next business day delivery,
(c) sent by facsimile or (d) sent by registered or certified mail, postage
prepaid, return receipt requested and addressed as follows:

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                           (i)      if to the Company, to:

                                    Tower Tech, Inc.
                                    11935 S. I-44 Service Road
                                    Oklahoma City, OK  73173
                                    Attention:            Chairman of the Board
                                    Telephone:            (405) 290-7788
                                    Facsimile:            (405) 979-2185

                           (ii)     if to the Executive, to:

                                    Charles D. Whitsitt
                                    517 Cheswick Court
                                    Norman, Oklahoma  73072
                                    Telephone:            (405) 360-2621
                                    Facsimile:            (405) 360-2621

or to such other address as the party to whom notice is to be given may have
furnished to each other party in writing in accordance herewith. Any such notice
or communication shall be deemed to have been received (i) in the case of
personal delivery, on the date of such delivery, (ii) in the case of
nationally-recognized overnight courier, on the next business day after the date
when sent, (iii) in the case of facsimile transmission, when received, and (iv)
in the case of mailing, on the fifth Business Day following that on which the
piece of mail containing such communication is posted. As used herein, "Business
Day" means a day that is not a Saturday, Sunday or a day on which banking
institutions in Oklahoma City, Oklahoma are not required to be open.

          14. Amendment and Waiver. No waiver, amendment or modification of any
              --------------------
provision of this Agreement shall be effective unless in writing and signed by
each party hereto. No failure or delay by any party in exercising any right,
power or remedy under this Agreement shall operate as a waiver thereof or of any
other right, power or remedy. The waiver by any party hereto of a breach of any
provision of this Agreement shall not operate or be construed as a waiver of any
subsequent breach.

          15. Arbitration. Any dispute between the parties out of or related to
              -----------
this Agreement and involving a claim for money damages shall be conducted
pursuant to the Commercial Arbitration Rules of the American Arbitration
Association. All arbitration shall be governed by the Federal Arbitration Act
and the arbitration decision shall be enforceable in any court of competent
jurisdiction. This obligation to arbitrate shall survive even if this Agreement
shall be alleged to be rescinded or terminated. In any dispute involving claims
in excess of $50,000, three arbitrators shall be employed. The arbitration
hearing shall be convened in Oklahoma City, Oklahoma and shall take place within
six months from the service of the statement of claim unless the hearing cannot
fairly and practicably be so convened. No discovery deposition shall be taken
although the parties shall be entitled to engage in document discovery.

          16. Governing Law. All questions concerning the construction,
              -------------
interpretation and validity of this Agreement shall be governed by and construed
and enforced in accordance with the domestic laws of the State of Oklahoma,
without giving effect to any choice or conflict of law provision or rules
(whether in the State of Oklahoma or any other jurisdiction) that would cause
the application of the laws of any jurisdiction other than the State of
Oklahoma, except as otherwise

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provided by Section 15. In furtherance of the foregoing, the internal law of the
State of Oklahoma will control the interpretation and construction of this
Agreement, even if, under such jurisdiction's choice of law or conflict of law
analysis, the substantive law of some other jurisdiction would ordinarily apply.

          17. Entire Agreement. This Agreement constitutes the entire agreement
              ----------------
between the parties with respect to the subject matter hereof and supersedes all
prior or contemporaneous negotiations, correspondence, understandings and
agreements between the parties with respect thereto, whether oral or written.
This Agreement may be amended only by an agreement in writing signed by both
parties hereto.

          18. Binding Effect; Assignment. This Agreement shall be binding upon
              --------------------------
and inure to the benefit of the parties hereto and their respective Affiliates,
officers, employees, agents, successors and assigns (including, in the case of
the Company or any of its Subsidiaries, the successor to the business of the
Company as a result of the transfer of all or substantially all of the assets or
capital stock of the Company or any of its Subsidiaries); provided, however,
                                                          --------  -------
that the Executive may not assign this Agreement or any of his rights or
interests herein, in whole or in part, to any other Person without the prior
written consent of the Company.

          19. Headings. The section headings contained in this Agreement are for
              --------
reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

          20. Counterparts. This Agreement may be executed in any number of
              ------------
counterparts, and each such counterpart shall be deemed to be an original
instrument, but all such counterparts together shall constitute one and the same
agreement.

          Dated the day and year first above written.

COMPANY:                                 TOWER TECH, INC.

                                         By: /s/Robert C. Brink
                                             ------------------
                                         Name:
                                              ----------------------------------
                                         Title:
                                               ---------------------------------

EXECUTIVE:

                                         /s/Charles D. Whitsitt
                                         ----------------------
                                         CHARLES D. WHITSITT

                                       8<PAGE>

                                                                    Exhibit 10.7

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                                TOWER TECH, INC.

                   2002 Management Incentive Stock Option Plan

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

                           Effective February 1, 2002

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                                   ARTICLE I

                                    Purpose

Section 1.01      Purpose. This Management Incentive Stock Option Plan is
established by Tower Tech, Inc., an Oklahoma corporation (the "Company") to
create incentives which are designed to motivate Participants to put forth
maximum effort toward the success and growth of the Company and to enable the
Company to attract and retain experienced individuals who by their position,
ability and diligence are able to make important contributions to the Company's
success. Toward these objectives, the Plan provides for the granting of Options
to Participants on the terms and subject to the conditions set forth in the
Plan. This Plan is effected in accordance with the Plan of Reorganization of the
Company pursuant to Chapter 11 of the Bankruptcy Code.

Section 1.02     Establishment. The Plan is effective as of February 1, 2002 and
for a period of 10 years from such date. The Plan will terminate on January 31,
2012, however, it will continue in effect until all matters relating to the
payment of Awards and administration of the Plan have been settled.

Section 1.03     Shares Subject to the Plan. Subject to Articles IV, VII and IX
of this Plan, shares of stock covered by Options shall consist of up to 616,059
shares of Class A Common Stock.

                                   ARTICLE II

                                   Definitions

Section 2.01     "Award" means, individually or collectively, any Option granted
under the Plan to a Participant by the Committee pursuant to such terms,
conditions, restrictions, and/or limitations, if any, as the Committee may
establish by the Award Agreement or otherwise.

Section 2.02     "Award Agreement" means any written instrument that establishes
the terms, conditions, restrictions, and/or limitations applicable to an Award
in addition to those established by this Plan and by the Committee's exercise of
its administrative powers.

Section 2.03     "Board" means the Board of Directors of the Company.

Section 2.04     "Change of Control" and "Change of Control Events" mean the
occurrence of one of the events designated in Article IX.

Section 2.05     "Code" means the Internal Revenue Code of 1986, as amended.
Reference to any Section of the Code shall be deemed to include any amendments
or successor provisions to such Section and any regulations under such Section.

Section 2.06     "Committee" means the Compensation Committee of the Board, or
such other committee designated by the Board, authorized to administer the Plan
under Article III hereof consisting of not less than two members of the Board.
Initially, the Committee shall consist of the entire Board.

Section 2.07     "Common Stock" means the Common Stock, par value $ 0.01 per
share, of the Company, and after substitution, such other stock as shall be
substituted therefor as provided in Article VII.

Section 2.08     "Date of Grant" means the date on which the granting of an
Award is authorized by the Committee or such later date as may be specified by
the Committee in such authorization.

Section 2.09     "Disability" shall have the meaning set forth in Section 22(e)
(3) of the Code.

Section 2.10     "Director" means any person who is a member of the Board.

Section 2.11     "Eligible Employee" means any employee of the Company, a
Subsidiary or an Affiliated Entity.

<PAGE>

Section 2.12     "Exchange Act" means the Securities Exchange Act of 1934, as
amended.

Section 2.13     "Fair Market Value" means if, at the time an Option is granted
under the Plan, the Company's Common Stock is publicly traded, "fair market
value" shall be determined as of the last business day for which the prices or
quotes discussed in this sentence are available prior to the date such Option is
granted and shall mean (i) the average (on that date) of the high and low prices
of the Common Stock on the principal national securities exchange on which the
Common Stock is traded, if the Common Stock is then traded on a national
securities exchange; or (ii) the last reported sale price (on that date) of the
Common Stock on the NASDAQ National Market, if the Common Stock is not then
traded on a national securities exchange; or (iii) the closing bid price (or
average of bid prices) last quoted (on that date) by an established quotation
service for over-the-counter securities, if the Common Stock is not reported on
the NASDAQ National Market. If the Common Stock is not publicly traded at the
time an Option is granted under the Plan, "fair market value" shall mean the
fair value of the Common Stock as determined by the Committee after taking into
consideration all factors which it deems appropriate, including, without
limitation, recent sale and offer prices of the Common Stock in private
transactions negotiated at arm's length.

Section 2.14     "Incentive Stock Option" means an Option within the meaning of
Section 422 of the Code.

Section 2.15     "Nonqualified Stock Option" means an Option which is not an
Incentive Stock Option.

Section 2.16     "Option" means an Award granted under Article VI of the Plan.

Section 2.17     "Participant" means a Director or an Eligible Employee to whom
an Award has been granted by the Committee under the Plan.

Section 2.18     "Plan" means this Tower Tech, Inc. 2002 Management Incentive
Stock Option Plan.

Section 2.19     "Subsidiary" shall have the same meaning set forth in Section
424 of the Code.

                                  ARTICLE III

                                 Administration

Section 3.01 Administration by Committee. The Committee shall administer the
Plan. Unless otherwise provided in the by-laws of the Company or the resolutions
adopted from time to time by the Board establishing the Committee, the Board may
from time to time remove members from, or add members to, the Committee.
Vacancies on the Committee, however caused, shall be filled by the Board. The
Committee shall hold meetings at such times and places as it may determine. A
majority of the Committee shall constitute a quorum, and the acts of a majority
of the members present at any meeting at which a quorum is present or acts
reduced to or approved in writing by a majority of the members of the Committee
shall be the valid acts of the Committee.

         Subject to the provisions of the Plan, the Committee shall have
exclusive power to:

         (a)     Select the Participants to be granted Awards.

         (b)     Determine the time or times when Awards will be made.

         (c)     Determine the form of an Award, the number of shares of Common
Stock subject to the Award, all the terms, conditions (including performance
requirements), restrictions and/or limitations, if any, of an Award, including
the time and conditions of exercise or vesting, and the terms of any Award
Agreement, which may include the waiver or amendment of prior terms and
conditions or acceleration or early vesting or payment of an Award under certain
circumstances determined by the Committee.

         (d)     Determine whether Awards will be granted singly or in
combination.

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<PAGE>

         (e)     Accelerate the vesting, exercise or payment of an Award or the
performance period of an Award when such action or actions would be in the best
interest of the Company.

         (f)     Take any and all other action it deems necessary or advisable
for the proper operation or administration of the Plan.

Section 3.02     Committee to Make Rules and Interpret Plan. The Committee in
its sole discretion shall have the authority, subject to the provisions of the
Plan, to establish, adopt, or revise such rules and regulations and to make all
such determinations relating to the Plan as it may deem necessary or advisable
for the administration of the Plan. The Committee's interpretation of the Plan
or any Awards granted pursuant thereto and all decisions and determinations by
the Committee with respect to the Plan shall be final, binding, and conclusive
on all parties.

                                   ARTICLE IV

                                 Grant of Awards

Section 4.01     Committee to Grant Awards. The Committee may, from time to
time, grant Awards to one or more Participants, provided, however, that:

         (a)     Subject to Article VII, the aggregate number of shares of
         Common Stock made subject to the Award of Options to any Participant
         in+ any fiscal year of the Company may not exceed 308,030.

         (b)     Any shares of Common Stock related to Awards which terminate by
         expiration, forfeiture, cancellation or otherwise without the issuance
         of shares of Common Stock shall be available again for grant under the
         Plan.

         (c)     Common Stock delivered by the Company in payment of any Award
         under the Plan may be authorized and unissued Common Stock or Common
         Stock held in the treasury of the Company.

         (d)     The Committee shall, in its sole discretion, determine the
                 manner in which fractional shares arising under this Plan
                 shall be treated.

         (e)     Separate certificates representing Common Stock to be
         delivered to a Participant upon the exercise of any Option will be
         issued to such Participant.

                                    ARTICLE V

                                   Eligibility

         Subject to the provisions of the Plan, the Committee shall, from time
to time, select from the Directors and Eligible Employees those to whom Awards
shall be granted and shall determine the type or types of Awards to be made and
shall establish in the related Award Agreements the terms, conditions,
restrictions and/or limitations, if any, applicable to the Awards in addition to
those set forth in the Plan and the administrative rules and regulations issued
by the Committee.

                                    ARTICLE VI

                                  Stock Options

Section 6.01     Grant of Options. The Committee may, from time to time, subject
to the provisions of the Plan and such other terms and conditions as it may
determine, grant Options to Participants. These Options may be Incentive Stock
Options or Nonqualified Stock Options, or a combination of both. Each grant of
an Option shall be evidenced by an Award Agreement executed by the Company and
the Participant, and shall contain such terms and conditions and be in such form
as the Committee may from time to time approve, subject to the requirements of
Section 6.02.

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Section 6.02     Conditions of Options.  Each Option so granted shall be
        subject to the following conditions:

        (a)   Exercise Price. As limited by Section 6.02(e) below, each Option
        shall state the exercise price which shall be established by the
        Committee at the Date of Grant; provided, however, no Option shall be
        granted at an exercise price which is less than the Fair Market Value of
        the Common Stock on the Date of Grant.

        (b)   Means of Exercising Options. An Option (or any part of installment
        thereof) shall be exercised by giving written notice to the Company at
        its principal office address, or to such transfer agent as the Company
        shall designate. Such notice shall identify the Option being exercised
        and specify the number of shares as to which such Option is being
        exercised, accompanied by full payment of the purchase price therefor
        either (a) in United States dollars in cash or by check, (b) at the
        discretion of the Committee, through delivery of shares of Common Stock
        having a Fair Market Value equal as of the date of the exercise to the
        cash exercise price of the Option including withholding of shares of
        Common Stock otherwise deliverable upon exercise of an Option, but only
        to the extent such exercise of an Option would not result in an
        accounting compensation charge with respect to the shares used to pay
        the exercise price unless otherwise determined by the Committee, (c) at
        the discretion of the Committee and consistent with applicable law,
        through the delivery of an assignment to the Company of a sufficient
        amount of the proceeds from the sale of the Common Stock acquired upon
        exercise of the Option and an authorization to the broker or selling
        agent to pay that amount to the Company, which sale shall be at the
        participant's direction at the time of exercise, or (d) at the
        discretion of the Committee, by any combination of (a), (b) and (c)
        above. If the Committee exercises its discretion to permit payment of
        the exercise price of an ISO by means of the methods set forth in
        clauses (b), (c) or (d) of the preceding sentence, such discretion shall
        be exercised in writing at the time of the grant of the ISO in question.
        The holder of an Option shall not have the rights of a shareholder with
        respect to the shares covered by such Option until the date of issuance
        of a stock ce rtificate to such holder for such shares. Except as
        expressly provided above in Article VII with respect to changes in
        capitalization and stock dividends, no adjustment shall be made for
        dividends or similar rights for which the record date is before the date
        such stock certificate is issued.

        (c)   Exercise of Options. Options granted under the Plan shall be
        exercisable, in whole or in such installments and at such times, and
        shall expire at such time, as shall be provided by the Committee in the
        Award Agreement. Exercise of an Option shall be by written notice
        stating the election to exercise in the form and manner determined by
        the Committee. Every share of Common Stock acquired through the exercise
        of an Option shall be deemed to be fully paid at the time of exercise
        and payment of the exercise price.

        (d)   Other Terms and Conditions. Among other conditions that may be
        imposed by the Committee, if deemed appropriate, are those relating to
        (i) the period or periods and the conditions of exercisability of any
        Option; (ii) the minimum periods during which Participants must be
        employed by the Company, its Subsidiaries or an Affiliated Entity, or
        must hold Options before they may be exercised; (iii) the minimum
        periods during which shares acquired upon the exercise of Options must
        be held before sale or transfer shall be permitted; (iv) conditions
        under which Options or shares may be subject to forfeiture; (v) the
        frequency of exercise or the minimum or maximum number of shares that
        may be acquired at any one time and (vi) the achievement by the Company
        of specified performance criteria.

        (e)   Special Restrictions Relating to Incentive Stock Options. Options
        issued in the form of Incentive Stock Options shall not be granted to
        Directors who are not also Eligible Employees of the Company or a
        Subsidiary and shall, in addition to being subject to all applicable
        terms, conditions, restrictions and/or limitations established by the
        Committee, comply with the requirements of Section 422 of the Code (or
        any successor Section thereto), including, without limitation, the
        requirement that the exercise price of an Incentive Stock Option not be
        less than 100% of the Fair Market Value of the Common Stock on the Date
        of Grant, the requirement that each Incentive Stock Option, unless
        sooner exercised, terminated or cancelled, expire no later than 10 years
        from its Date of Grant, and the requirement that the aggregate Fair
        Market Value (determined on the Date of Grant) of the Common Stock with
        respect to which Incentive Stock Options are exercisable for the first
        time by a Participant during any calendar year (under this Plan or any
        other plan of the Company, or any Subsidiary) not exceed $100,000.
        Incentive Stock Options which

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<PAGE>

         are in excess of the applicable $100,000 limitation will be
         automatically recharacterized as Nonqualified Stock Options as provided
         under Section 6.03 of this Plan. No Incentive Stock Options shall be
         granted to any Eligible Employee if, immediately before the grant of an
         Incentive Stock Option, such Eligible Employee owns more than 10% of
         the total combined voting power of all classes of stock of the Company
         or its Subsidiaries (as determined in accordance with the stock
         attribution rules contained in Sections 422 and 424(d) of the Code).
         Provided, the preceding sentence shall not apply if, at the time the
         Incentive Stock Option is granted, the exercise price is at least 110%
         of the Fair Market Value of the Common Stock subject to the Incentive
         Stock Option, and such Incentive Stock Option by its terms is
         exercisable no more than five years from the date such Incentive Stock
         Option is granted.

         (f)     Shareholder Rights. No Participant shall have a right as a
         shareholder with respect to any share of Common Stock subject to an
         Option prior to purchase of such shares of Common Stock by exercise of
         the Option.

Section 6.03     Options Not Qualifying as Incentive Stock Options. With
respect to all or any portion of any Option granted under this Plan not
qualifying as an "incentive stock option" under Section 422 of the Code, such
Option shall be considered as a Nonqualified Stock Option granted under this
Plan for all purposes. Further, this Plan and any Incentive Stock Options
granted hereunder shall be deemed to have incorporated by reference all the
provisions and requirements of Section 422 of the Code (and the Treasury
Regulations issued thereunder) which are required to provide that all Incentive
Stock Options granted hereunder shall be "incentive stock options" described in
Section 422 of the Code. Further, in the event that the Committee grants
Incentive Stock Options under this Plan to a Participant, and, in the event that
the applicable limitation contained in Section 6.02(e) herein is exceeded, then,
such Incentive Stock Options in excess of such limitation shall be treated as
Nonqualified Stock Options under this Plan subject to the terms and provisions
of the applicable Award Agreement, except to the extent modified to reflect
recharacterization of the Incentive Stock Options as Nonqualified Stock Options.

                                  ARTICLE VII

                                Stock Adjustments

         In the event that the shares of Common Stock, as presently constituted,
shall be changed into or exchanged for a different number or kind of shares of
stock or other securities of the Company or of another corporation (whether by
reason of merger, consolidation, recapitalization, reclassification, stock
split, combination of shares or otherwise), or if the number of such shares of
Common Stock shall be increased through the payment of a stock dividend, or a
dividend on the shares of Common Stock or rights or warrants to purchase
securities of the Company shall be made, then there shall be substituted for or
added to each share available under and subject to the Plan as provided in
Section 1.03 hereof, and each share theretofore appropriated or thereafter
subject or which may become subject to Options under the Plan, the number and
kind of shares of stock or other securities into which each outstanding share of
Common Stock shall be so changed or for which each such share shall be exchanged
or to which each such share shall be entitled, as the case may be, on a fair and
equivalent basis in accordance with the applicable provisions of Section 424 of
the Code; provided, however, with respect to Options, in no such event will such
adjustment result in a modification of any Option as defined in Section 424(h)
of the Code. In the event there shall be any other change in the number or kind
of the outstanding shares of Common Stock, or any stock or other securities into
which the Common Stock shall have been changed or for which it shall have been
exchanged, then if the Committee shall, in its sole discretion, determine that
such change equitably requires an adjustment in the shares available under and
subject to the Plan, or in any Award theretofore granted or which may be granted
under the Plan, such adjustments shall be made in accordance with such
determination, except that no adjustment of the number of shares of Common Stock
available under the Plan or to which any Award relates that would otherwise be
required shall be made unless and until such adjustment either by itself or with
other adjustments not previously made would require an increase or decrease of
at least 1% in the number of shares of Common Stock available under the Plan or
to which any Award relates immediately prior to the making of such adjustment
(the "Minimum Adjustment"). Any adjustment representing a change of less than
such minimum amount shall be carried forward and made as soon as such adjustment
together with other adjustments required by this Article VII and not previously
made would result in a Minimum Adjustment. Notwithstanding the foregoing, any
adjustment required by this Article VII which otherwise would not result in a
Minimum Adjustment shall be made with respect to shares of Common Stock relating
to any Award immediately prior to exercise, payment or settlement of such Award.

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<PAGE>

         No fractional shares of Common Stock or units of other securities shall
be issued pursuant to any such adjustment, and any fractions resulting from any
such adjustment shall be eliminated in each case by rounding downward to the
nearest whole share.

                                  ARTICLE VIII

                                     General

Section 8.01     Amendment or Termination of Plan. The Board may, from time to
time, amend the Plan in any manner, but may not without shareholder approval
adopt any amendment which would increase the aggregate number of shares of
Common Stock available under the Plan (except by operation of Article VII),
provided, that any amendment to the Plan shall require approval of the
shareholders if, in the opinion of counsel to the Company, such approval is
required by any Federal or state law or any regulations or rules promulgated
thereunder.

Section 8.02     Dividends and Dividend Equivalents. The Committee may choose,
at the time of the grant of any Award or any time thereafter up to the time of
payment of such Award, to include as part of such Award an entitlement to
receive dividends or dividend equivalents subject to such terms, conditions,
restrictions, and/or limitations, if any, as the Committee may establish.
Dividends and dividend equivalents granted hereunder shall be paid in such form
and manner (i.e., lump sum or installments), and at such time as the Committee
shall determine. All dividends or dividend equivalents which are not paid
currently may, at the Committee's discretion, accrue interest or be reinvested
into additional shares of Common Stock.

Section 8.03     Acceleration of Otherwise Unexercisable Options on Death,
Disability or Other Special Circumstances. The Committee, in its sole
discretion, may permit (i) a Participant who terminates employment due to a
Disability, (ii) the personal representative of a deceased Participant, or (iii)
any other Participant who terminates employment upon the occurrence of special
circumstances (as determined by the Committee) to purchase all or any part of
the shares subject to any unvested Award on the date of the Participant's
Disability, death, or as the Committee otherwise so determines. With respect to
Awards which have already vested at the date of such termination or the vesting
of which is accelerated by the Committee in accordance with the foregoing
provision, the Participant or the personal representative of a deceased
Participant shall automatically have the right to exercise such vested Awards
within three months of such date of termination of employment or one year in the
case of a Participant suffering a Disability or during the remaining term of the
Option in the case of a deceased Participant.

Section 8.04     Limited Transferability. The Committee may, in its discretion,
authorize all or a portion of the Nonqualified Stock Options to be granted under
this Plan to be on terms which permit transfer by the Participant to (i) the
ex-spouse of the Participant pursuant to the terms of a domestic relations
order, (ii) the spouse, children or grandchildren of the Participant ("Immediate
Family Members"), (iii) a trust or trusts for the exclusive benefit of such
Immediate Family Members, or (iv) a partnership in which such Immediate Family
Members are the only partners. In addition (x) there may be no consideration for
any such transfer, (y) the Award Agreement pursuant to which such Nonqualified
Stock Options are granted must be approved by the Committee, and must expressly
provide for transferability in a manner consistent with this Section, and (z)
subsequent transfers of transferred Nonqualified Stock Options shall be
prohibited except as set forth below in this Section 8.04. Following transfer,
any such Nonqualified Stock Options shall continue to be subject to the same
terms and conditions as were applicable immediately prior to transfer, provided
that for purposes of Section 8.03 hereof the term "Participant" shall be deemed
to refer to the transferee. The events of termination of employment of Section
8.03 hereof shall continue to be applied with respect to the original
Participant, following which the Options shall be exercisable by the transferee
only to the extent, and for the periods specified in Section 8.03 hereof. No
transfer pursuant to this Section 8.04 shall be effective to bind the Company
unless the Company shall have been furnished with written notice of such
transfer together with such other documents regarding the transfer as the
Committee shall request. In addition, Options shall be transferable by will or
the laws of descent and distribution; however, no such transfer of an Option by
the Participant shall be effective to bind the Company unless the Company shall
have been furnished with written notice of such transfer and an authenticated
copy of the will and/or such other evidence as the Committee may deem necessary
to establish the validity of the transfer and the acceptance by the transferee
of the terms and conditions of such Option.

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<PAGE>

Section 8.05     Restriction on Sale of Stock. Once an Option is exercised, the
shares represented by that Option may not be sold or transferred except in
compliance with Section 8.04 above.

Section 8.06     Withholding Taxes. A Participant must pay the amount of taxes
required by law upon the exercise or payment of an Award (i) in cash, (ii) by
delivering to the Company shares of Common Stock having a Fair Market Value on
the date of payment equal to the amount of such required withholding taxes, or
(iii) a combination of the foregoing.

Section 8.07     Amendments to Awards. The Committee may at any time
unilaterally amend the terms of any Award Agreement, whether or not presently
exercisable, earned, paid or vested, to the extent it deems appropriate,
including by example and not by limitation, the acceleration of vesting of
Awards; provided, however, that any such amendment which is adverse to the
Participant shall require the Participant's consent.

Section 8.08     Securities Laws. The Company shall have no obligation to issue
or deliver certificates representing shares of Common Stock subject to Awards if
such issuance or delivery would violate any federal or state securities or other
laws or prior to:

        (a)      the obtaining of any approval from, or satisfaction of any
waiting period or other condition imposed by, any governmental agency which the
Committee shall, in its sole discretion, determine to be necessary or advisable;
and

        (b)      the completion of any registration or other qualification of
such shares under any state or Federal law or ruling of any governmental body
which the Committee shall, in its sole discretion, determine to be necessary or
advisable.

Section 8.09     Right to Continued Employment. Participation in the Plan shall
not give any Director any right to remain a Director of the Company or any
Eligible Employee any right to remain in the employ of the Company, any
Subsidiary or any Affiliated Entity. The adoption of this Plan shall not be
deemed to give any Director, Eligible Employee or any other individual any right
to be selected as a Participant or to be granted an Award.

Section 8.10     Reliance on Reports. Each member of the Committee and each
member of the Board shall be fully justified in relying or acting in good faith
upon any report made by the independent public accountants of the Company and
its Subsidiaries and upon any other information furnished in connection with the
Plan by any person or persons other than himself. In no event shall any person
who is or shall have been a member of the Committee or of the Board be liable
for any determination made or other action taken or any omission to act in
reliance upon any such report or information or for any action taken, including
the furnishing of information, or failure to act, if in good faith.

Section 8.11     Construction.  Masculine pronouns and other words of
masculine gender shall refer to both men and women.

Section 8.12     Governing Law. The Plan shall be governed by and construed in
accordance with the laws of the State of Oklahoma except as superseded by
applicable Federal law.

                                   ARTICLE IX

                                Change in Control

        In the event any Change in Control Event (as defined below) occurs,
each Option then outstanding shall, immediately prior to such Change in Control
Event, be nonforfeitable and exercisable in full. A Change in Control Event
shall mean any of the following:

        (i) Any transaction in which shares of voting securities of the Company
        are sold or transferred by the Company or shareholders of the Company as
        a result of which those persons and entities who own voting

7

<PAGE>

     securities of the Company prior to such transaction own less than fifty
     percent (50%) of the outstanding voting securities of the Company after
     such transaction;

     (ii) The merger or consolidation of the Company with or into another entity
     as a result of which less than fifty percent (50%) of the outstanding
     voting securities of the surviving or resulting entity are beneficially
     owned by those persons and entities who beneficially own voting securities
     of the Company prior to such merger or consolidation;

     (iii) The sale of all or substantially all of the Company's asse ts to an
     entity of which less than fifty percent (50%) of the outstanding voting
     securities of such entity are beneficially owned by those persons and
     entities who own voting securities of the Company at the time of such asset
     sale; or

     (iv) The completion of a public offering of the Company's shares with the
     Securities and Exchange Commission or the registration or other
     qualification of such shares under any state or federal law or ruling of
     any governmental body which the Committee shall, in its sole discretion,
     determine to be necessary or advisable.

                                    ARTICLE X

                   Acceleration of Options on Corporate Event

     If the Company shall, pursuant to action by the Board, at any time propose
to dissolve or liquidate or merge into, consolidate with, or sell or otherwise
transfer all or substantially all of its assets to another corporation
("Transaction") and provision is not made pursuant to the terms of such
Transaction for the assumption by the surviving, resulting or acquiring
corporation of outstanding Options under the Plan, or for the substitution of
new options therefor, the Committee shall cause written notice of the proposed
Transaction to be given to each Participant no less than forty days prior to the
anticipated effective date of the proposed Transaction, and his Option shall
become 100% vested and, prior to a date specified in such notice, which shall be
not more than ten days prior to the anticipated effective date of the proposed
Transaction, each Participant shall have the right to exercise his Option to
purchase any or all of the Common Stock then subject to such Option. Each
Participant, by so notifying the Company in writing, may, in exercising his
Option, condition such exercise upon, and provide that such exercise shall
become effective at the time of, but immediately prior to, the consummation of
the Transaction, in which event such Participant need not make payment for the
Common Stock to be purchased upon exercise of such Option until five days after
written notice by the Company to such Participant that the Transaction has been
consummated. If the Transaction is consummated, each Option, to the extent not
previously exercised prior to the date specified in the foregoing notice, shall
terminate on the effective date of such consummation. If the Transaction is
abandoned, (i) any Common Stock not purchased upon exercise of such Option shall
continue to be available for purchase in accordance with the other provisions of
the Plan and (ii) to the extent that any Option not exercised prior to such
abandonment shall have vested solely by operation of this Article IX, such
vesting shall be deemed annulled, and the vesting schedule set forth in the
Participant's Option Agreement shall be reinstituted, as of the date of such
abandonment.

                                     -END-

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