Document:

AIRSPAN
      NETWORKS INC.

    

    

    Non-Qualified
      Stock Option Agreement for 

    Employees

     

    
      
        	
                Employee/Optionee:

              	
                Henrik
                  Smith-Petersen

              
	 	 
	
                Number
                  of shares of Common 

              	 
	
                Stock
                  subject to this Agreement:

              	
                75,000

              

      

       

    

    Pursuant
      to the Airspan Networks Inc. Omnibus Equity Compensation Plan (the "Plan"),
      the
      Compensation Committee (the "Committee") of the Board of Directors of Airspan
      Networks Inc. (the "Company") has granted to you on this date an option (the
      "Option") to purchase the number of shares of the Company's Common Stock, $.0003
      par value ("Common Stock"), set forth above. Such shares (as the same may be
      adjusted as described in Section 10 below) are herein referred to as the
      "Option Shares". 

    

    The
      Option shall constitute and be treated at all times by you and the Company
      as a
      "non-qualified stock option" for U.S. Federal income tax purposes and shall
      not
      constitute and shall not be treated as an "incentive stock option" as defined
      under Section 422(b) of the Internal Revenue Code of 1986, as amended (the
      "Code"). 

    

    The
      terms
      and conditions of the Option are set out below.

    

    
      	
              1.

            	
              Date
                of Grant. 

            

    

    

    The
      Option is granted to you as of March 3, 2008.

    

    
      	
              2.

            	
              Termination
                of Option. 

            

    

    

    Except
      as
      provided below, your right to exercise the Option (and to purchase the Option
      Shares) shall expire and terminate in all events on the earliest of (i) ten
      (10)
      years from the date of grant, or (ii) the date provided in Section 8 below
      in
      the event you cease to be employed by the Company or any subsidiary or affiliate
      thereof. Provided, however, that notwithstanding clauses (i) and (ii) and
      anything else to the contrary in this Agreement, if you are employed by the
      Company or any subsidiary or affiliate of the Company immediately before a
      Change in Control (as defined in Section 4(b) below), and if the Company or
      any
      successor, assign, or purchaser thereof does not either (A) continue your
      Option (as adjusted, if necessary, to retain its pre Change in Control economic
      value and aggregate "spread" between the Option Shares' fair market value and
      exercise price) or (B) grant you a new Option of at least equivalent economic
      value, aggregate "spread," and other terms and conditions as your pre Change
      in
      Control Option, then you will automatically vest in an additional 50% of any
      remaining unvested Options that you may hold, and, notwithstanding anything
      herein to the contrary, you may exercise all such vested Options (together
      with
      any other previously or subsequently vested Options) until the later of (i)
      the
      date specified in Section 8 below or (ii) one (1) year from such Change in
      Control, but in no event longer than ten (10) years from the original date
      of
      grant. 

    
      
        
        

      

      
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              3.

            	
              Option
                Price. 

            

    

    

    The
      purchase price to be paid upon the exercise of the Option is $_____ per share
      (subject to adjustment as provided in Section 10 hereof), which is equal to
      the
      Fair Market Value of a share of Common Stock on the date of grant.

    

    
      	
              4.

            	
              Vesting.
                

            

    

    

    
      	(a)	
              Unless
                otherwise accelerated upon a Change in Control as provided for in
                Section
                2 above, upon the one (1) year anniversary of March
                3, 2008 the Option shall become exercisable to purchase ("vest with
                respect to") 25% of the total number of Option Shares, and, after
                the
                first such anniversary date, shall vest each month (as of the monthly
                anniversary of that date) for the next 36 months with respect to
                an
                additional 1/48 of the total number of Option Shares (rounded to
                the
                nearest whole share), such that 100% of the Option Shares will vest
                in
                four (4) years. 

            

    

    

    
      	
              (b)

            	
              For
                purposes hereof, a "Change in Control" shall be deemed to have occurred
                if
                the conditions set forth in any one of the following paragraphs shall
                have
                been satisfied:

            

    

    

    
      	 	
              (1)

            	
              Any
                Person becomes the beneficial owner of shares having 50% or more
                of the
                total number of votes that may be cast for the election of directors
                of
                the Company; or 

            

    

    

    
      	 	
              (2)

            	
              As
                a result of, or in connection with, any tender or exchange offer,
                merger
                or other business combination, sale of assets or contested election,
                or
                any combination of the foregoing (a "Transaction"), the persons who
                were
                directors of the Company before the Transaction shall cease to constitute
                a majority of the Board of Directors of the Company or any successor
                to
                the Company or its assets; or 

            

    

    

    
      	 	
              (3)

            	
              If
                at any time (i) the Company shall consolidate with, or merge with,
                any
                other person and the Company shall not be the continuing or surviving
                corporation, (ii) any Person shall consolidate with, or merge with,
                the Company and the Company shall be the continuing or surviving
                corporation and in connection therewith, all or part of the outstanding
                stock shall be changed into or exchanged for stock or other securities
                of
                any other Person or cash or any other property, (iii) the Company
                shall be a party to a statutory share exchange with any other Person
                after
                which the Company is a Subsidiary of any other Person, or (iv) the
                Company shall sell or otherwise transfer 50% or more of the assets
                or
                earnings power of the Company and its subsidiaries (taken as a whole)
                to
                any Person or Persons. The term "Person" shall have the meaning ascribed
                to such term in Section 3(a)(9) of the Securities Exchange Act of
                1934
                ("Exchange Act") and used in Sections 13(d) and 14(d) thereof, including
                a
                "group" as defined in Section 13(d)
                thereof.

            

    

    
      
        
        

      

      
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              (c)

            	
              If
                a Change in Control occurs and the Company fails to remain in existence,
                the Option shall become an obligation of the person succeeding to
                the
                business of the Company or otherwise responsible for the Company's
                obligations.

            

    

    

    
      	
              (d)

            	
              Nothing
                in this Agreement pertaining to a Change in Control shall limit or
                restrict the rights otherwise provided to you in this Agreement or
                the
                exercisability of the Option.

            

    

    

    
      	
              5.

            	
              Additional
                Provisions Relating to Exercise.

            

    

    

    Once
      you
      become entitled to exercise the Option (and purchase Option Shares) as provided
      in Section 4 hereof, such right will continue until the date on which the Option
      expires and terminates pursuant to Section 2 hereof.

    

    
      	
              6.

            	
              Exercise
                of Option. 

            

    

    

    
      	
              (a)

            	
              An
                Option may be exercised by giving written notice of exercise to the
                Company specifying the number of shares to be purchased. Such notice
                must
                be signed and dated and be accompanied by payment in full of the
                exercise
                price. If a person other than you exercises the Option, such person
                shall
                submit proof satisfactory to the Company of the right of such person
                to
                exercise the Option.

            

    

    

    
      	
              (b)

            	
              To
                exercise the Option, you must use one of the payment methods specified
                below at the date of exercise. Payment of the full exercise price
                must be
                accompanied by payment, if you are subject to taxes in the USA, of
                the
                applicable income tax and social security payments, and, if you are
                subject to taxes in the United Kingdom, by both primary (employee's)
                and
                secondary (employer's) Class 1 National Insurance Contributions ("NIC's"),
                together with any other taxes to which you may be subjected arising
                on the
                exercise of the Options to the extent permitted by law (the "Tax
                Indemnity"). Unless otherwise agreed to by the Committee, payment
                of the
                option price and payment in respect of the Tax Indemnity must be
                made by
                (i) cashier's check or wire transfer to the Company’s bank account, (ii)
                by shares of Common Stock already owned by you (provided, that for
                any
                such shares that you acquired pursuant to an option issued to you
                by the
                Company, you have held such shares for at least six months), or (iii)
                by a
                cashless exercise transaction whereby you simultaneously exercise
                an
                Option, sell the shares of the Common Stock thereby acquired, and
                use the
                proceeds from such sale for payment of the exercise price; provided,
                however,
                that with the prior approval of the Committee, payment of such option
                price and/or Tax Indemnity may instead be made, in whole or in part,
                by
                the delivery to the Company of a promissory note in a form and amount
                satisfactory to the Committee, provided that the principal amount
                of such
                note shall not exceed the excess of such aggregate option price and
                Tax
                Indemnity obligation over the aggregate par value of the purchased
                Option
                Shares. The Option shall be deemed to be exercised upon receipt by
                the
                Company of both the required written notice and full payment of the
                exercise price and any other amounts required
                above.

            

    

    
      
        
        

      

      
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              (c)

            	
              Subject
                to the other applicable provisions of this Agreement and the Plan,
                the
                Company shall issue a certificate or certificates representing the
                number
                of Option Shares to which the person exercising the Option is entitled
                as
                soon as practicable after the date of exercise. Unless the person
                exercising the Option otherwise directs the Company in writing, the
                certificate or certificates will be registered in your
                name.

            

    

    

    
      	
              (d)

            	
              Notwithstanding
                anything to the contrary in this Agreement, no shares of stock purchased
                upon exercise of the Option, and no certificate representing such
                shares,
                shall be issued or delivered if (a) such shares have not been admitted
                to
                listing upon official notice of issuance on each stock exchange,
                if any,
                upon which shares of that class are then listed, or (b) in the
                opinion of counsel to the Company, such issuance or delivery would
                (i) cause the Company to be in violation of or to incur liability
                under any federal, state or other securities law, or any other requirement
                of law or any requirement of any stock exchange regulations or listing
                agreement to which the Company is a party, or of any administrative
                or
                regulatory body having jurisdiction over the Company or (ii) require
                registration (apart from any registrations as have been theretofore
                completed by the Company covering such shares) under any federal,
                state,
                or other securities or similar law.

            

    

    

    
      	
              7.

            	
              Transferability
                of Option. 

            

    

    

    The
      Option may not be transferred by you (other than by will or the laws of descent
      and distribution or a domestic relations order) and may be exercised during
      your
      lifetime only by you (or your personal representative) or by a spouse or former
      spouse under a domestic relations order. For purposes of this Section, a
‘domestic relations order’ is an order that (i) relates to the division of
      marital property rights with a spouse or former spouse and (ii) made pursuant
      to
      a State domestic relations law. 

    
      
        
        

      

      
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              8.

            	
              Termination
                of Employment. 

            

    

    

    
      	
            	(a)	
              In
                the event that (i) the Company or any subsidiary, affiliate, or parent
                thereof terminates your employment, or (ii) you terminate your
                employment for
                any reason whatsoever (other than as a result of your death or total
                and
                permanent disability (as determined by the Company or its designated
                representative)), then the Option may only be exercised within ninety
                (90)
                days after the date you cease to be so employed, and only to the
                same
                extent that you were entitled to exercise the Option on the date
                you
                ceased to be so employed by reason of such termination and had not
                previously done so.

            

    

    

    
      	
            	(b)	
              In
                the event that you cease to be employed by the Company or any subsidiary,
                affiliate, or parent thereof by reason of total and permanent disability
                (as determined by the Company or its designated representative),
                then the
                Option may only be exercised within one year after the date you cease
                to
                be so employed, and only to the same extent that you were entitled
                to
                exercise the Option on the date you ceased to be so employed by reason
                of
                such disability and had not previously done
                so.

            

    

    

    
      	
            	(c)	
              In
                the event that you die while employed by the Company or any subsidiary,
                affiliate, or parent thereof (or die within a period of one year
                after
                ceasing to be employed by the Company or any subsidiary, affiliate,
                or
                parent thereof by reason of disability (as described in Section 8(b)
                hereof) or within 90 days of ceasing to be so employed for any other
                reason), the Option may only be exercised within one year after your
                death. In such event, the Option may be exercised during such one-year
                period by the executor or administrator of your estate or by any
                person
                who shall have acquired the Option through bequest or inheritance,
                but
                only to the same extent that you were entitled to exercise the Option
                immediately prior to the time of your death and you had not previously
                done so.

            

    

    

    
      	 	
              (d)

            	
              Notwithstanding
                any provision contained in this Section 8 to the contrary, (i) the
                time limits provided for in this Section 8 shall be subject to extension
                in the event of a Change in Control, to the extent provided for in
                Section
                2 hereof, and (ii) in no event may the Option be exercised to any
                extent by anyone after the tenth (10th) anniversary of the date of
                grant
                of the Option.

            

    

    

    
      	
              9.

            	
              Representations.
                

            

    

    

    You
      represent and warrant that you understand the tax consequences of the granting
      of the Option to you, the acquisition of rights to exercise the Option with
      respect to any Option Shares, the exercise, release or other disposal of the
      Option and purchase of Option Shares, and the subsequent sale or other
      disposition of any Option Shares. In addition, you understand that the Company
      may be required to pay, or account for taxes in respect of any compensation
      income, or other income or gain realized by you upon exercise of the Option
      granted hereunder. To the extent that the Company is required to pay, account
      for or withhold any such taxes, then, unless both you and the Committee have
      otherwise agreed upon alternate arrangements, you hereby agree that the Company
      may deduct from any payments of any kind otherwise due to you an amount equal
      to
      the total taxes required to be so paid, accounted for or withheld (as permitted
      by law), or if such payments are inadequate to satisfy such taxes, or if no
      such
      payments are due or to become due to you, then you agree to provide the Company
      with cash funds or make other arrangements satisfactory to the Company regarding
      such payment. 

    
      
        
        

      

      
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    If
      you
      are subject to income taxes in the United Kingdom, the offer of the Options
      contained in this Agreement is further conditional
      upon
      your agreeing at the request of the Company to enter into such written agreement
      or election with the Company and/or with any connected person of the Company
      as
      is required to procure that you will assume responsibility for such (employer's)
      Class 1 NIC's as would otherwise fall on the Company in connection with the
      grant, exercise, release or other disposal of your Options. Any failure on
      your
      part to enter into any such agreement or election within seven days of the
      date
      of receipt from the Company of a notice requiring the same, will result in
      the
      cancellation of the Options granted to you under the terms of this Agreement
      and
      pending entry by you into such agreement or election you agree that no exercise,
      or further exercise, of the Options will be permitted. 

    

    It
      is
      understood that all matters with respect to the total amount of taxes to be
      withheld in respect of any such compensation income shall be determined by
      the
      Company in its sole discretion.

    

    
      	
              10.

            	
              Adjustments.
                

            

    

    

    In
      the
      event that, after the date hereof, the outstanding shares of the Company's
      Common Stock shall be increased or decreased or changed into or exchanged for
      a
      different number or kind of shares of stock or other securities of the Company
      or of another corporation through reorganization, merger or consolidation,
      recapitalization, reclassification, stock split, split-up, combination or
      exchange of shares or declaration of any dividends payable in Common Stock,
      the
      Committee shall appropriately adjust the number of shares of Common Stock (and
      the option price per share) subject to the unexercised portion of the Option
      (to
      the nearest possible full share), and such adjustment shall be effective and
      binding for all purposes of this Agreement and the Plan.

    

    
      	
              11.

            	
              Continuation
                of Employment. 

            

    

    

    Neither
      the Plan nor the Option shall confer upon you any right to continue in the
      employ of (or any other relationship with) the Company or any subsidiary,
      affiliate, or parent thereof, or limit in any respect the right of the Company
      or any subsidiary, affiliate, or parent thereof to terminate your employment
      or
      other relationship with the Company or any subsidiary, affiliate, or parent
      thereof, as the case may be, at any time. 

    
      
        
        

      

      
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              12.

            	
              Confidentiality
                and Non-Competition.

            

    

    

    Notwithstanding
      any other provision of this Agreement, this Option may not be exercised on
      or
      after the date that (and any Option Shares acquired pursuant to this Option
      or
      the proceeds from the subsequent sale of such Shares shall be forfeited by
      you
      if) you engage in any conduct that violates any non-competition, confidentiality
      or non-solicitation provisions (a) under your employment or other agreement
      with the Company (or any of its affiliates or subsidiaries) or (b) that are
      otherwise applicable to your employment with the Company (or any of its
      affiliates or subsidiaries). You acknowledge that this Option constitutes good,
      valuable and sufficient consideration for his or her performance of those
      provisions.

    

    

    
      	
              13.

            	
              Stockholder
                Rights. 

            

    

    

    No
      person
      or entity shall be entitled to vote, receive dividends, or be deemed for any
      purpose the holder of any Option Shares until the Option shall have been duly
      exercised to purchase such Option Shares in accordance with the provisions
      of
      this Agreement and the applicable share certificate shall have been issued.
      

    

    
      	
              14.

            	
              Plan
                Documents. 

            

    

    

    This
      Agreement is qualified in its entirety by reference to the provisions of the
      Plan, as amended from time to time, which are hereby incorporated herein by
      reference. Capitalized terms not defined herein shall have the meaning ascribed
      to them in the Plan. However, notwithstanding the above, no Plan amendment
      may
      deprive you of any Options theretofore granted under the Plan without your
      consent, and no Plan amendment requiring shareholder approval (if any) may
      be
      made without such shareholder approval. 

    

    The
      interpretation and construction by the Committee of the Plan, this Agreement,
      the Options granted hereunder, and such rules and regulations as may be adopted
      by the Committee for the purpose of administering the Plan, shall be final
      and
      binding upon you. Until the Options shall expire, terminate, or be exercised
      in
      full, the Company shall, upon written request therefor, send a copy of the
      Plan,
      in its then-current form, to you or any other person or entity then entitled
      to
      exercise the Options.

    

    
      	
              15.

            	
              Governing
                Law. 

            

    

    

    This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Washington, but without regard to the principle of conflict of laws
      thereof. If any one or more provisions of this Agreement shall be found to
      be
      illegal or unenforceable in any respect, the validity and enforceability of
      the
      remaining provisions hereof shall not in any way be affected or impaired
      thereby.

    
      
        
        

      

      
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              16.

            	
              Lock
                Up

            

    

    

    You
      acknowledge that in connection with any public offering of the Common Stock,
      the
      underwriters for the Company may require that the Company's officers, directors,
      and/or certain other shareholders not sell their shares of Common Stock for
      a
      certain period of time before or after the effectiveness of the Registration
      Statement filed in connection with such offering. You hereby agree that upon
      the
      Company's request in connection with any such public offering, that you will
      not, directly or indirectly, offer, sell, contract to sell, make subject to
      any
      purchase option, or otherwise dispose of any shares of Common Stock for a period
      requested by the underwriter or its representative, not to exceed 10
      days before
      and 180 days after the date of the effectiveness of the
      Registration Statement, without the prior written consent of the underwriter
      or
      its representative.

    

    
      	
              17.

            	
              Successors
                and Assigns. 

            

    

    

    This
      Agreement shall be binding upon and inure to the benefit of the successors
      and
      assigns of the Company and upon the legal representatives, executors,
      administrators, heirs, legatees and any permitted assignee of the
      Optionee.

    

    
      	
              18.

            	
              Notices.
                

            

    

    

    All
      notices and other communications required or permitted hereunder shall be in
      writing and deemed to have been received on the date of delivery if delivered
      by
      hand or overnight express, or three days after the date of posting if mailed
      by
      registered or certified mail, postage prepaid, addressed to the Company, c/o
      Manager of Human Resources, at 777 Yamato Rd. Suite 310, Boca Raton, Florida
      and
      to you at your address as set forth herein (or such other address to which
      the
      Company or you hereby notify the other party hereto to send such notices and
      communications). Such notices and other communications shall not be considered
      delivered until actually received or deemed received pursuant to this
      Section 17.

    

    
      	
              19.

            	
              Entire
                Agreement.

            

    

    

    This
      Agreement constitutes the entire agreement between the Company and you and
      supersedes any prior agreements and understandings, oral or written, between
      the
      Company and you concerning the subject matter of this Agreement.

    

    
      	
              20.

            	
              Construction.

            

    

    

    The
      section headings contained in this Agreement are for reference only and shall
      have no effect on the interpretation of any of the provisions of this
      Agreement.

    
      
        
        

      

      
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              21.

            	
              Amendment.

            

    

    

    This
      Agreement may (except as provided in the Plan) only be amended, altered or
      modified by a written instrument signed by the parties hereto, or their
      respective successors, and it may not be terminated (except as provided herein
      or in the Plan).

    

    

    Please
      acknowledge receipt of this Agreement by signing the enclosed copy of this
      Agreement in the space provided below and returning it promptly to the Secretary
      of the Company.

     

    
      
        
          
            	 	
                    AIRSPAN
                      NETWORKS INC. 

                  
	 	 	 
	 	 	 
	 	
                     

                  
	 	
                    By:
                      Eric Stonestrom

                  
	 	
                    Its:
                      Chief Executive Officer

                  
	 	
                     

                  	 
	 	 	 
	 	 	 
	
                    Accepted
                      and Agreed To As of Date: 

                  	
                     

                  
	 	 	 
	 	 	 
	 	
                  
	
                     

                  	
                    
                      
                        Henrik
                          Smith Petersen

                      

                    

                  
	 	
                    (Employee/Optionee)

                  
	 	 	 
	 	
                    Address:
                      

                  	 
	 	 
	 	
                     

                  
	 	 	 
	 	
                     

                  	 

          

          

            
              
                
                

              

              
                Page
                  9 of 9AIRSPAN
        NETWORKS INC.

      

      

      Non-Qualified
        Stock Option Agreement for 

      Employees

       

      
        
          	
                  Employee/Optionee:

                	
                  Uzi
                    Shalev

                
	 	 
	
                  Number
                    of shares of Common 

                	 
	
                  Stock
                    subject to this Agreement:

                	
                  125,000

                

        

      

      

       

      Pursuant
        to the Airspan Networks Inc. Omnibus Equity Compensation Plan (the "Plan"),
        the
        Compensation Committee (the "Committee") of the Board of Directors of Airspan
        Networks Inc. (the "Company") has granted to you on this date an option (the
        "Option") to purchase the number of shares of the Company's Common Stock,
        $.0003
        par value ("Common Stock"), set forth above. Such shares (as the same may
        be
        adjusted as described in Section 10 below) are herein referred to as the
        "Option Shares". 

      

      The
        Option shall constitute and be treated at all times by you and the Company
        as a
        "non-qualified stock option" for U.S. Federal income tax purposes and shall
        not
        constitute and shall not be treated as an "incentive stock option" as defined
        under Section 422(b) of the Internal Revenue Code of 1986, as amended (the
        "Code"). 

      

      The
        terms
        and conditions of the Option are set out below.

      

      
        	
                1.

              	
                Date
                  of Grant. 

              

      

      

      The
        Option is granted to you as of March 3, 2008.

      

      
        	
                2.

              	
                Termination
                  of Option. 

              

      

      

      Except
        as
        provided below, your right to exercise the Option (and to purchase the Option
        Shares) shall expire and terminate in all events on the earliest of (i) ten
        (10)
        years from the date of grant, or (ii) the date provided in Section 8 below
        in
        the event you cease to be employed by the Company or any subsidiary or affiliate
        thereof. Provided, however, that notwithstanding clauses (i) and (ii) and
        anything else to the contrary in this Agreement, if you are employed by the
        Company or any subsidiary or affiliate of the Company immediately before
        a
        Change in Control (as defined in Section 4(b) below), and if the Company
        or any
        successor, assign, or purchaser thereof does not either (A) continue your
        Option (as adjusted, if necessary, to retain its pre Change in Control economic
        value and aggregate "spread" between the Option Shares' fair market value
        and
        exercise price) or (B) grant you a new Option of at least equivalent economic
        value, aggregate "spread," and other terms and conditions as your pre Change
        in
        Control Option, then you will automatically vest in an additional 50% of
        any
        remaining unvested Options that you may hold, and, notwithstanding anything
        herein to the contrary, you may exercise all such vested Options (together
        with
        any other previously or subsequently vested Options) until the later of (i)
        the
        date specified in Section 8 below or (ii) one (1) year from such Change in
        Control, but in no event longer than ten (10) years from the original date
        of
        grant. 

       

      
        
          
          

        

        
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                3.

              	
                Option
                  Price. 

              

      

      

      The
        purchase price to be paid upon the exercise of the Option is $_____ per share
        (subject to adjustment as provided in Section 10 hereof), which is equal
        to the
        Fair Market Value of a share of Common Stock on the date of grant.

      

      
        	
                4.

              	
                Vesting.
                  

              

      

      

        
          	
                  (a)
                    

                	
                  Unless
                    otherwise accelerated upon a Change in Control as provided for
                    in Section
                    2 above, upon the one (1) year anniversary of March
                    3, 2008 the Option shall become exercisable to purchase ("vest
                    with
                    respect to") 25% of the total number of Option Shares, and, after
                    the
                    first such anniversary date, shall vest each month (as of the
                    monthly
                    anniversary of that date) for the next 36 months with respect
                    to an
                    additional 1/48 of the total number of Option Shares (rounded
                    to the
                    nearest whole share), such that 100% of the Option Shares will
                    vest in
                    four (4) years. 

                

        

      

       

      
        	
                (b)

              	
                For
                  purposes hereof, a "Change in Control" shall be deemed to have
                  occurred if
                  the conditions set forth in any one of the following paragraphs
                  shall have
                  been satisfied:

              

      

      

      
        	 	
                (1)

              	
                Any
                  Person becomes the beneficial owner of shares having 50% or more
                  of the
                  total number of votes that may be cast for the election of directors
                  of
                  the Company; or 

              

      

      

      
        	 	
                (2)

              	
                As
                  a result of, or in connection with, any tender or exchange offer,
                  merger
                  or other business combination, sale of assets or contested election,
                  or
                  any combination of the foregoing (a "Transaction"), the persons
                  who were
                  directors of the Company before the Transaction shall cease to
                  constitute
                  a majority of the Board of Directors of the Company or any successor
                  to
                  the Company or its assets; or 

              

      

      

      
        	 	
                (3)

              	
                If
                  at any time (i) the Company shall consolidate with, or merge with,
                  any
                  other person and the Company shall not be the continuing or surviving
                  corporation, (ii) any Person shall consolidate with, or merge with,
                  the Company and the Company shall be the continuing or surviving
                  corporation and in connection therewith, all or part of the outstanding
                  stock shall be changed into or exchanged for stock or other securities
                  of
                  any other Person or cash or any other property, (iii) the Company
                  shall be a party to a statutory share exchange with any other Person
                  after
                  which the Company is a Subsidiary of any other Person, or (iv) the
                  Company shall sell or otherwise transfer 50% or more of the assets
                  or
                  earnings power of the Company and its subsidiaries (taken as a
                  whole) to
                  any Person or Persons. The term "Person" shall have the meaning
                  ascribed
                  to such term in Section 3(a)(9) of the Securities Exchange Act
                  of 1934
                  ("Exchange Act") and used in Sections 13(d) and 14(d) thereof,
                  including a
                  "group" as defined in Section 13(d)
                  thereof.

              

      

       

      
        
          
          

        

        
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                (c)

              	
                If
                  a Change in Control occurs and the Company fails to remain in existence,
                  the Option shall become an obligation of the person succeeding
                  to the
                  business of the Company or otherwise responsible for the Company's
                  obligations.

              

      

      

      
        	
                (d)

              	
                Nothing
                  in this Agreement pertaining to a Change in Control shall limit
                  or
                  restrict the rights otherwise provided to you in this Agreement
                  or the
                  exercisability of the Option.

              

      

      

      
        	
                5.

              	
                Additional
                  Provisions Relating to Exercise.

              

      

      

      Once
        you
        become entitled to exercise the Option (and purchase Option Shares) as provided
        in Section 4 hereof, such right will continue until the date on which the
        Option
        expires and terminates pursuant to Section 2 hereof.

      

      
        	
                6.

              	
                Exercise
                  of Option. 

              

      

      

      
        	
                (a)

              	
                An
                  Option may be exercised by giving written notice of exercise to
                  the
                  Company specifying the number of shares to be purchased. Such notice
                  must
                  be signed and dated and be accompanied by payment in full of the
                  exercise
                  price. If a person other than you exercises the Option, such person
                  shall
                  submit proof satisfactory to the Company of the right of such person
                  to
                  exercise the Option.

              

      

      

      
        	
                (b)

              	
                To
                  exercise the Option, you must use one of the payment methods specified
                  below at the date of exercise. Payment of the full exercise price
                  must be
                  accompanied by payment, if you are subject to taxes in the USA,
                  of the
                  applicable income tax and social security payments, and, if you
                  are
                  subject to taxes in the United Kingdom, by both primary (employee's)
                  and
                  secondary (employer's) Class 1 National Insurance Contributions
                  ("NIC's"),
                  together with any other taxes to which you may be subjected arising
                  on the
                  exercise of the Options to the extent permitted by law (the "Tax
                  Indemnity"). Unless otherwise agreed to by the Committee, payment
                  of the
                  option price and payment in respect of the Tax Indemnity must be
                  made by
                  (i) cashier's check or wire transfer to the Company’s bank account, (ii)
                  by shares of Common Stock already owned by you (provided, that
                  for any
                  such shares that you acquired pursuant to an option issued to you
                  by the
                  Company, you have held such shares for at least six months), or
                  (iii) by a
                  cashless exercise transaction whereby you simultaneously exercise
                  an
                  Option, sell the shares of the Common Stock thereby acquired, and
                  use the
                  proceeds from such sale for payment of the exercise price; provided,
                  however,
                  that with the prior approval of the Committee, payment of such
                  option
                  price and/or Tax Indemnity may instead be made, in whole or in
                  part, by
                  the delivery to the Company of a promissory note in a form and
                  amount
                  satisfactory to the Committee, provided that the principal amount
                  of such
                  note shall not exceed the excess of such aggregate option price
                  and Tax
                  Indemnity obligation over the aggregate par value of the purchased
                  Option
                  Shares. The Option shall be deemed to be exercised upon receipt
                  by the
                  Company of both the required written notice and full payment of
                  the
                  exercise price and any other amounts required
                  above.

              

      

      

      
        
          
          

        

        
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                (c)

              	
                Subject
                  to the other applicable provisions of this Agreement and the Plan,
                  the
                  Company shall issue a certificate or certificates representing
                  the number
                  of Option Shares to which the person exercising the Option is entitled
                  as
                  soon as practicable after the date of exercise. Unless the person
                  exercising the Option otherwise directs the Company in writing,
                  the
                  certificate or certificates will be registered in your
                  name.

              

      

      

      
        	
                (d)

              	
                Notwithstanding
                  anything to the contrary in this Agreement, no shares of stock
                  purchased
                  upon exercise of the Option, and no certificate representing such
                  shares,
                  shall be issued or delivered if (a) such shares have not been admitted
                  to
                  listing upon official notice of issuance on each stock exchange,
                  if any,
                  upon which shares of that class are then listed, or (b) in the
                  opinion of counsel to the Company, such issuance or delivery would
                  (i) cause the Company to be in violation of or to incur liability
                  under any federal, state or other securities law, or any other
                  requirement
                  of law or any requirement of any stock exchange regulations or
                  listing
                  agreement to which the Company is a party, or of any administrative
                  or
                  regulatory body having jurisdiction over the Company or (ii) require
                  registration (apart from any registrations as have been theretofore
                  completed by the Company covering such shares) under any federal,
                  state,
                  or other securities or similar law.

              

      

      

      
        	
                7.

              	
                Transferability
                  of Option. 

              

      

      

      The
        Option may not be transferred by you (other than by will or the laws of descent
        and distribution or a domestic relations order) and may be exercised during
        your
        lifetime only by you (or your personal representative) or by a spouse or
        former
        spouse under a domestic relations order. For purposes of this Section, a
        ‘domestic relations order’ is an order that (i) relates to the division of
        marital property rights with a spouse or former spouse and (ii) made pursuant
        to
        a State domestic relations law. 

       

      
        
          
          

        

        
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                  8.
                    

                	
                  Termination
                    of Employment.

                

        

      

      

        
          	
                  (a)
                    

                	
                  In
                    the event that (i) the Company or any subsidiary, affiliate,
                    or parent
                    thereof terminates your employment, or (ii) you terminate your
                    employment for
                    any reason whatsoever (other than as a result of your death or
                    total and
                    permanent disability (as determined by the Company or its designated
                    representative)), then the Option may only be exercised within
                    ninety (90)
                    days after the date you cease to be so employed, and only to
                    the same
                    extent that you were entitled to exercise the Option on the date
                    you
                    ceased to be so employed by reason of such termination and had
                    not
                    previously done so.

                
	 	 
	
                  (b)

                	
                  In
                    the event that you cease to be employed by the Company or any
                    subsidiary,
                    affiliate, or parent thereof by reason of total and permanent
                    disability
                    (as determined by the Company or its designated representative),
                    then the
                    Option may only be exercised within one year after the date you
                    cease to
                    be so employed, and only to the same extent that you were entitled
                    to
                    exercise the Option on the date you ceased to be so employed
                    by reason of
                    such disability and had not previously done so.

                
	 	 
	
                  (c)

                	
                  In
                    the event that you die while employed by the Company or any subsidiary,
                    affiliate, or parent thereof (or die within a period of one year
                    after
                    ceasing to be employed by the Company or any subsidiary, affiliate,
                    or
                    parent thereof by reason of disability (as described in Section
                    8(b)
                    hereof) or within 90 days of ceasing to be so employed for any
                    other
                    reason), the Option may only be exercised within one year after
                    your
                    death. In such event, the Option may be exercised during such
                    one-year
                    period by the executor or administrator of your estate or by
                    any person
                    who shall have acquired the Option through bequest or inheritance,
                    but
                    only to the same extent that you were entitled to exercise the
                    Option
                    immediately prior to the time of your death and you had not previously
                    done so.

                
	 	 
	
                  (d)

                	
                  Notwithstanding
                    any provision contained in this Section 8 to the contrary, (i) the
                    time limits provided for in this Section 8 shall be subject to
                    extension
                    in the event of a Change in Control, to the extent provided for
                    in Section
                    2 hereof, and (ii) in no event may the Option be exercised to any
                    extent by anyone after the tenth (10th) anniversary of the date
                    of grant
                    of the Option.

                

        

      

      

      
        	
                9.

              	
                Representations.
                  

              

      

      

      You
        represent and warrant that you understand the tax consequences of the granting
        of the Option to you, the acquisition of rights to exercise the Option with
        respect to any Option Shares, the exercise, release or other disposal of
        the
        Option and purchase of Option Shares, and the subsequent sale or other
        disposition of any Option Shares. In addition, you understand that the Company
        may be required to pay, or account for taxes in respect of any compensation
        income, or other income or gain realized by you upon exercise of the Option
        granted hereunder. To the extent that the Company is required to pay, account
        for or withhold any such taxes, then, unless both you and the Committee have
        otherwise agreed upon alternate arrangements, you hereby agree that the Company
        may deduct from any payments of any kind otherwise due to you an amount equal
        to
        the total taxes required to be so paid, accounted for or withheld (as permitted
        by law), or if such payments are inadequate to satisfy such taxes, or if
        no such
        payments are due or to become due to you, then you agree to provide the Company
        with cash funds or make other arrangements satisfactory to the Company regarding
        such payment. 

      

      
        
          
          

        

        
          Page
            5 of 9

          
            

          

        

        
          
          

        

      

      
        

      

      If
        you
        are subject to income taxes in the United Kingdom, the offer of the Options
        contained in this Agreement is further conditional
        upon
        your agreeing at the request of the Company to enter into such written agreement
        or election with the Company and/or with any connected person of the Company
        as
        is required to procure that you will assume responsibility for such (employer's)
        Class 1 NIC's as would otherwise fall on the Company in connection with the
        grant, exercise, release or other disposal of your Options. Any failure on
        your
        part to enter into any such agreement or election within seven days of the
        date
        of receipt from the Company of a notice requiring the same, will result in
        the
        cancellation of the Options granted to you under the terms of this Agreement
        and
        pending entry by you into such agreement or election you agree that no exercise,
        or further exercise, of the Options will be permitted. 

      

      It
        is
        understood that all matters with respect to the total amount of taxes to
        be
        withheld in respect of any such compensation income shall be determined by
        the
        Company in its sole discretion.

      

      
        	
                10.

              	
                Adjustments.
                  

              

      

      

      In
        the
        event that, after the date hereof, the outstanding shares of the Company's
        Common Stock shall be increased or decreased or changed into or exchanged
        for a
        different number or kind of shares of stock or other securities of the Company
        or of another corporation through reorganization, merger or consolidation,
        recapitalization, reclassification, stock split, split-up, combination or
        exchange of shares or declaration of any dividends payable in Common Stock,
        the
        Committee shall appropriately adjust the number of shares of Common Stock
        (and
        the option price per share) subject to the unexercised portion of the Option
        (to
        the nearest possible full share), and such adjustment shall be effective
        and
        binding for all purposes of this Agreement and the Plan.

      

      
        	
                11.

              	
                Continuation
                  of Employment. 

              

      

      

      Neither
        the Plan nor the Option shall confer upon you any right to continue in the
        employ of (or any other relationship with) the Company or any subsidiary,
        affiliate, or parent thereof, or limit in any respect the right of the Company
        or any subsidiary, affiliate, or parent thereof to terminate your employment
        or
        other relationship with the Company or any subsidiary, affiliate, or parent
        thereof, as the case may be, at any time. 

       

      
        
          
          

        

        
          Page
            6 of 9

          
            

          

        

        
          
          

        

      

      
        

      

      
        	
                12.

              	
                Confidentiality
                  and Non-Competition.

              

      

      

      Notwithstanding
        any other provision of this Agreement, this Option may not be exercised on
        or
        after the date that (and any Option Shares acquired pursuant to this Option
        or
        the proceeds from the subsequent sale of such Shares shall be forfeited by
        you
        if) you engage in any conduct that violates any non-competition, confidentiality
        or non-solicitation provisions (a) under your employment or other agreement
        with the Company (or any of its affiliates or subsidiaries) or (b) that are
        otherwise applicable to your employment with the Company (or any of its
        affiliates or subsidiaries). You acknowledge that this Option constitutes
        good,
        valuable and sufficient consideration for his or her performance of those
        provisions.

       

      
        	
                13.

              	
                Stockholder
                  Rights. 

              

      

      

      No
        person
        or entity shall be entitled to vote, receive dividends, or be deemed for
        any
        purpose the holder of any Option Shares until the Option shall have been
        duly
        exercised to purchase such Option Shares in accordance with the provisions
        of
        this Agreement and the applicable share certificate shall have been issued.
        

      

      
        	
                14.

              	
                Plan
                  Documents. 

              

      

      

      This
        Agreement is qualified in its entirety by reference to the provisions of
        the
        Plan, as amended from time to time, which are hereby incorporated herein
        by
        reference. Capitalized terms not defined herein shall have the meaning ascribed
        to them in the Plan. However, notwithstanding the above, no Plan amendment
        may
        deprive you of any Options theretofore granted under the Plan without your
        consent, and no Plan amendment requiring shareholder approval (if any) may
        be
        made without such shareholder approval. 

      

      The
        interpretation and construction by the Committee of the Plan, this Agreement,
        the Options granted hereunder, and such rules and regulations as may be adopted
        by the Committee for the purpose of administering the Plan, shall be final
        and
        binding upon you. Until the Options shall expire, terminate, or be exercised
        in
        full, the Company shall, upon written request therefor, send a copy of the
        Plan,
        in its then-current form, to you or any other person or entity then entitled
        to
        exercise the Options.

      

      
        	
                15.

              	
                Governing
                  Law. 

              

      

      

      This
        Agreement shall be governed by and construed in accordance with the laws
        of the
        State of Washington, but without regard to the principle of conflict of laws
        thereof. If any one or more provisions of this Agreement shall be found to
        be
        illegal or unenforceable in any respect, the validity and enforceability
        of the
        remaining provisions hereof shall not in any way be affected or impaired
        thereby.

       

      
        
          
          

        

        
          Page
            7 of 9

          
            

          

        

        
          
          

        

      

      
        

      
        	
                16.

              	
                Lock
                  Up

              

      

      

      You
        acknowledge that in connection with any public offering of the Common Stock,
        the
        underwriters for the Company may require that the Company's officers, directors,
        and/or certain other shareholders not sell their shares of Common Stock for
        a
        certain period of time before or after the effectiveness of the Registration
        Statement filed in connection with such offering. You hereby agree that upon
        the
        Company's request in connection with any such public offering, that you will
        not, directly or indirectly, offer, sell, contract to sell, make subject
        to any
        purchase option, or otherwise dispose of any shares of Common Stock for a
        period
        requested by the underwriter or its representative, not to exceed 10
        days before
        and 180 days after the date of the effectiveness of the
        Registration Statement, without the prior written consent of the underwriter
        or
        its representative.

      

      
        	
                17.

              	
                Successors
                  and Assigns. 

              

      

      

      This
        Agreement shall be binding upon and inure to the benefit of the successors
        and
        assigns of the Company and upon the legal representatives, executors,
        administrators, heirs, legatees and any permitted assignee of the
        Optionee.

      

      
        	
                18.

              	
                Notices.
                  

              

      

      

      All
        notices and other communications required or permitted hereunder shall be
        in
        writing and deemed to have been received on the date of delivery if delivered
        by
        hand or overnight express, or three days after the date of posting if mailed
        by
        registered or certified mail, postage prepaid, addressed to the Company,
        c/o
        Manager of Human Resources, at 777 Yamato Rd. Suite 310, Boca Raton, Florida
        and
        to you at your address as set forth herein (or such other address to which
        the
        Company or you hereby notify the other party hereto to send such notices
        and
        communications). Such notices and other communications shall not be considered
        delivered until actually received or deemed received pursuant to this
        Section 17.

      

      
        	
                19.

              	
                Entire
                  Agreement.

              

      

      

      This
        Agreement constitutes the entire agreement between the Company and you and
        supersedes any prior agreements and understandings, oral or written, between
        the
        Company and you concerning the subject matter of this Agreement.

      

      
        	
                20.

              	
                Construction.

              

      

      

      The
        section headings contained in this Agreement are for reference only and shall
        have no effect on the interpretation of any of the provisions of this
        Agreement.

       

      
        
          
          

        

        
          Page
            8 of 9

          
            

          

        

        
          
          

        

      

      
        

      
        	
                21.

              	
                Amendment.

              

      

      

      This
        Agreement may (except as provided in the Plan) only be amended, altered or
        modified by a written instrument signed by the parties hereto, or their
        respective successors, and it may not be terminated (except as provided herein
        or in the Plan).

      

      

      Please
        acknowledge receipt of this Agreement by signing the enclosed copy of this
        Agreement in the space provided below and returning it promptly to the Secretary
        of the Company.

      
         

        
          	 	
                  AIRSPAN
                    NETWORKS INC. 

                
	 	 	 
	 	 	 
	 	
                   

                
	 	
                  By:
                    Eric Stonestrom

                
	 	
                  Its:
                    Chief Executive Officer

                
	 	
                   

                	 
	 	 	 
	 	 	 
	
                  Accepted
                    and Agreed To As of Date: 

                	
                   

                
	 	 	 
	 	 	 
	 	
                
	
                   

                	
                  
                    
                      
                        Uzi
                          Shalev

                      

                    

                  

                
	 	
                  (Employee/Optionee)

                
	 	 	 
	 	
                  Address:
                    

                	 
	 	 
	 	
                   

                
	 	 	 
	 	
                   

                	 

        

      

    

    
       

      
         

      

      
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