Document:

EX-10.44 Executive Employment Agreement

 

Exhibit 10.44

EXECUTIVE EMPLOYMENT AGREEMENT

     THIS
AGREEMENT is between 180 Connect, Inc., a Nevada corporation (the “Company’),
and Kyle M. Hall (“Executive”).

     In consideration of the mutual covenants contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

     1.     Employment.

     The Company shall employ Executive, and Executive hereby accepts employment with the Company,
upon the terms and conditions set forth in this Agreement for the Employment Term (see Section 24
for all definitions). Executive’s start date shall be October 17, 2007. This Agreement will
automatically be renewed for a Renewal Term upon the expiration of the Initial Term or Renewal Term
then in effect unless one party provides the other party written notice of intent not to renew at
least one hundred and eighty (180) days prior to the expiration of the Initial Term or Renewal Term
then in effect.

     2.     Authority.

     It is agreed that the governance committee of the Parent’s Board of Director’s shall serve as
the final arbiter of interpretation, application and execution of all provisions of this Agreement
to the extent not otherwise specified.

     3.     Position and Duties.

            (a) During the Employment Term, Executive shall serve as the Senior Vice
President and Chief Legal Officer (“CLO”) of the Company and the other Related
Companies, and shall have the normal duties, responsibilities and authority,
consistent with a CLO position of a publicly-traded company, including, without
limitation, providing leadership, direction and oversight for all legal activities
and issues of the Related Companies, including without limitation, all matters and
reporting arising under the 1933 Securities Act and 1934 Exchange Act; imparting
legal advice and guidance to the Board of Directors, senior management and other
staff of the Related Companies; managing general business transactions, drafting and
reviewing contracts and other legal documentation; managing litigation, mediation and
dispute resolution; managing external legal resources; participating in negotiation
and structuring of new ventures and merger, acquisition and disposition transactions;
assisting in the assessment, establishment and, as appropriate, upgrading of
compliance programs and procedures related to general corporate and human resource
matters; coordinating/managing corporate governance procedures; serving as a member
of the senior leadership team; and supervising professional and administrative staff.
Executive shall be based in Englewood, Colorado. Executive shall report directly to
the Chief Executive Officer (“CEO”) of the Company and the other Related Companies.
It is understood that Executive’s title and rate of pay may change in the future by
mutual
agreement in writing of the parties and that this Agreement shall be automatically deemed amended
at and as of the time of any such change, without the necessity of further formal amendment of this
Agreement.

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            (b) Executive shall devote Executive’s best efforts and Executive’s full business time and
attention (except for permitted vacation periods and reasonable periods of illness or other
incapacity in accordance with the Company’s applicable policies, as they may be amended from time
to time) to the business and affairs of the Related Companies. Executive shall perform Executive’s
duties and responsibilities under this Agreement to the best of Executive’s abilities in a
diligent, trustworthy, businesslike and efficient manner. During employment, Executive will (i)
avoid conflicts of interest, and (ii) advise the Parent’s Board of Directors of any business
opportunity that involves products or services like those offered by the Related Companies or that
a reasonable person in Executive’s position might otherwise anticipate that the Related Companies
would have an interest in. Executive shall be subject to a duty of loyalty to Related Companies
during Executive’s employment provided for hereunder and for as long thereafter as the law allows.
This Section shall not prevent the Employee from owning securities of any corporation whose
securities are publicly traded on a stock exchange recognized by the proper authorities of the
country in which the stock exchange is located, if such holdings represent less than three percent
(3%) of the aggregate issued and outstanding securities of the same kind as such corporation.

     4.     Base Salary and Benefits.

            (a) During the Employment Term, the Company shall pay
Executive (i) a base salary of two hundred ten thousand dollars ($210,000.00) per
annum (the “Base Salary”) and (ii) a vehicle allowance of six hundred dollars
($600.00) per month each month (“Vehicle Allowance”), each of which Base Salary
and Vehicle Allowance shall be payable in regular installments in accordance with
the Company’s general payroll practices and shall be subject to customary
withholding. Executive’s Base Salary shall be reviewed annually and shall be
subject to adjustment based on, among other things, market practice and Executive’s
performance; provided, however, that modifications to compensation are subject to
Executive’s right to consent or object on grounds that the
change is a detrimental, material change under paragraph 24(h).

            (b) Executive will be eligible to participate in an annual bonus
plan with bonus potential of up to fifty percent (50%) of Base Salary. This bonus
plan will be based on a formula considering corporate profitability and specific
performance goals. Any bonus awards under the annual bonus plan are in the sole
discretion of the Company and are not guaranteed. Executive shall be eligible for a
pro-rated 2007 bonus to be paid in 2008.

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            (c) In addition to Executive’s Base Salary, Executive, during the
Employment Term, shall be eligible to participate in any stock or stock option plan
offered to other executives of the Company, subject to the terms of such plan, as it
may be amended from time to time. In addition, subject to its development and subsequent approval
by the Company’s Board of Directors, the Company’s shareholders and the appropriate stock exchange,
Executive will be eligible to participate in a new long-term incentive program. Pursuant to this
program, and subject to the approval as specified herein, Executive shall be granted twenty-four
thousand (24,000) Restricted Stock Units and thirty-six thousand (36,000) Share Appreciation
Rights. These incentives shall vest at twenty-five percent (25%) per year for four (4) years,
except in the event of a Change in Control (as defined in the plan or program master agreements
governing the issuance of Restricted Stock Units and Share Appreciation Rights), in which case
these incentives shall be subject to accelerated treatment such that all outstanding Share
Appreciation Rights held by Executive shall become vested and exercisable and all restrictions on
Executive’s Restricted Stock Units shall lapse upon the occurrence of such Change in Control,
unless an exception to such accelerated treatment is set forth under such plan or program
agreements and such exception applies to all other executive officers of Parent and/or the other
Related Companies holding similar incentives.

            (d) Executive shall be entitled to three (3) weeks paid vacation
for each calendar year in which the Executive is employed under this Agreement, in
accordance with the Company’s vacation policy as it may be established and
amended from time to time by the Company. For any partial calendar year during
which Executive is employed under this Agreement, he shall be entitled to a
prorated amount of paid vacation, based on number of weeks worked in the
calendar year pursuant to the Company’s then existing current vacation policy.
Notwithstanding the foregoing, the Company acknowledges and agrees to honor
Executive’s previously planned 14-day vacation commencing on November 9,
2007.

            (e) The Company shall reimburse Executive for all reasonable
expenses incurred by Executive in the course of performing Executive’s duties
under this Agreement which are consistent with the Company’s policies with
respect to travel, entertainment and other business expenses, as they may be
amended from time to time, subject to the Company’s requirements with respect to
reporting and documentation of such expenses.

            (f) Executive will be entitled to all benefits provided by the
Company in accordance with the plans and practices of the Company applicable to
Executive, as they may be amended from time to time, such as medical and dental
insurance, life insurance and short-term and long-term disability insurance at
company expense during the Employment Term. Health insurance will become
effective on December 1, 2007.

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     5.     Termination of Employment and Related Compensation.

            (a)
The Employment Term of this Agreement shall terminate upon;

      (i) the expiration of the Initial Term or Renewal Term (whichever then applies) if one
party gives the other party written notice of intent not to renew this Agreement at least one
hundred and eighty (180) days before the expiration of the Initial Term or Renewal Term then in
effect; or

      (ii) the occurrence of one of the following early termination events:

     (A) Executive’s death or permanent disability or incapacity
(as determined by the governance committee of the Parent’s Board of
Directors in their good faith judgment);

     (B) the mutual agreement of the Company and Executive;

     (C)
Company’s termination of this Agreement for Cause or without Cause; or

     (D)
Executive’s termination of this Agreement for Good Reason or without Good Reason.

            (b) If the Employment Term is terminated and Executive’s
employment with Company ends because the Company terminated Executive’s
employment without Cause or Executive’s employment is terminated by Executive
for Good Reason or the Company elects not to renew or extend this Agreement at
the end of the Initial Term or any Renewal Term, then Executive shall be entitled to
receive:

      (i) the Severance Payment; and

      (ii) Executive’s Base Salary and the Vehicle Allowance earned through the date of
termination, all accrued, unused vacation days and any and all vested and earned (in accordance
with the applicable plan or program, including, without limitation, any accelerated vesting
treatment under such plan or program as the result of a Change in Control (as defined in such
plan or program) but unpaid amounts under the applicable incentive and/or deferred compensation
plans; and

      (iii) a continuation of any health insurance benefits provided or sponsored by the Company
that Executive was participating (for himself and his dependents) in immediately prior to
termination for one (1) year upon substantially the same terms and conditions as from time to
time are applicable to the senior executives of the Company. If the Executive loses a health
insurance benefit that Executive participated in prior to termination because Executive cannot
continue to participate in the Company’s plan due to circumstances outside of Executive’s
control, the Company shall provide Executive sums monthly that

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are sufficient to cover Executive’s expense (on an after-tax basis) in securing a substantially
similar, substitute health insurance benefit; provided, however, that Company shall not be
required to pay Executive more than that required to secure comparable coverage. Notwithstanding
the foregoing, in the event that the Executive becomes eligible to participate in the health and
welfare plans of another employer or the Executive becomes eligible for Medicare coverage, the
Company’s obligation to provide continued coverage hereunder shall cease; and

      (iv) The amounts payable pursuant to paragraph 5(b)(i) shall be payable in one lump sum
payment within thirty (30) days following termination of the Employment Term. The amounts
payable pursuant to paragraphs 5(b)(i) and (iii) shall not be due and owing unless and until (a)
Executive shall have executed and delivered to the Company a release of any and all claims
against the Related Companies (and their respective present and former officers, directors,
employees and agents — collectively the “Released Parties”) and a covenant not to sue
the Released Parties, all in form and substance as provided by counsel to the Company (the
“Release”) and any waiting period or revocation period provided by law for the
effectiveness of such Release shall have expired without Executive’s having revoked such
Release, and (b) Executive is not in material violation of his obligations under this Agreement
(including, without limitation, those in Sections 6-8, and 21). In the event Executive shall
decline or fail for any reason to execute and deliver such Release, or is in material violation
of an obligation created by this Agreement, then Executive shall be entitled to receive only
those amounts provided pursuant to Paragraph 5(c) below.

            (c) If the Employment Term is terminated and Executive’s
employment with the Company is ended by the Company for Cause, by Executive
without Good Reason or due by the death or Disability of the Executive, then
Executive shall be entitled to receive:

      (i) Executive’s Base Salary and Vehicle Allowance through the date of such termination, and
all accrued, unused vacation days; and

      (ii) vested and earned (in accordance with the Company’s applicable plan or program) but
unpaid amounts under incentive and/or deferred compensation plans, and other employer programs
of the Company in which Executive participates.

The foregoing sums shall be paid in accordance with the Company’s normal payment policies except
where earlier payment is required by applicable law.

            (d) Except as otherwise provided herein, fringe benefits and
bonuses hereunder (if any) which accrue or are payable on a date after the
termination of the Employment Term shall cease upon such termination and shall
not be payable in whole or in part except medical coverage if for disability,
incapacity or retirement.

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            (e) If Executive elects to terminate his employment with
Company through exercising his right not to renew under Paragraph 5(a)(i) or
through any other means and either: (i) Executive does not have a Good Reason to
do so; or (ii) Executive fails to give Company written notice of the alleged Good
Reason prior to terminating his employment; then Executive’s termination shall be
considered a termination by Executive without Good Reason. In any case, the
Company reserves the right to pay for Executive’s loyalty by continuation of then
existing pay, incentives and benefits for a period of one (1) year.

            (f) In the event of a Change in Control, Company, at its sole
expense, shall cause its independent auditors promptly to review all payments,
distributions and benefits that have been made to or provided to, and are to be made
to or provided to, Executive under this Agreement, and any other agreement and
plan benefiting Executive, to determine the applicability of Section 4999 of the
United States Internal Revenue Code of 1986, as amended (the “Code”). If
Company’s independent auditors determine that any such payments, distributions or
benefits are subject to excise taxes as provided under Section 4999 of the Code (the
“Excise Tax”), then such payment, distributions, or benefits (the
“Original Payment(s)”) shall be increased by an amount (the “Gross-up Amount”) such that,
after the Company withholds all taxes due, including any excise and employment
taxes imposed on the Gross-up Amount, Executive will retain a net amount equal to
the Original Payment(s) less income and employment taxes, if any, imposed on the
Original Payment(s). To facilitate the calculation of the applicable excise tax,
Executive agrees to provide Company’s auditors with copies of Executive’s Forms
W-2 for the tax years they deem necessary for their use in determining the
application of Section 4999 and calculating any amounts payable under this
provision. Company’s auditors will perform the calculations in conformance with
the foregoing provisions and provide Executive with a copy of their calculation.
The intent of the parties is that Company shall be solely responsible for, and shall
pay, any Excise Tax on the Original Payment(s) and Gross-up Amount and any
income and employment taxes (including, without limitation, penalties and interest)
imposed on any Gross-up Amount. If no determination by Company’s auditors is
made prior to the time Executive is required to file a tax return reflecting any
portion of the Original Payment(s), Executive will be entitled to receive a Gross-up
Amount calculated on the basis of the Original Payment(s) Executive reports in
such tax return, within thirty (30) days of the filing of such tax return. Executive
agrees that, for the purposes of the foregoing sentence, Executive is not required to
file a tax return until Executive has obtained the maximum number and length of
filing extensions available. If any tax authority finally determines that a greater
Excise Tax should be imposed upon the Original Payment(s) than is determined by
Company’s independent auditors or reflected in Executive’s tax returns, Executive
shall be entitled to receive the full Gross-up Amount calculated on the basis of the
additional amount of Excise Tax determined to be payable by such tax authority
(including related penalties and interest) from Company within thirty (30) days of
such determination as long as Executive has taken all reasonable actions to
minimize any such amounts. If any tax authority finally determines the Excise Tax
to be less than the amount taken into account hereunder in calculating the Gross-up
Amount, Executive shall repay to Company, within thirty (30) days of Executive’s
receipt of a refund resulting from that determination, the portion of the Gross-up
Amount attributable to such reduction (plus the refunded portion of Gross-up Amount
attributable to the Excise Tax and federal, state and local income and employment
taxes imposed on the Gross-up Amount being repaid, less any additional income tax
resulting from such refund).

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            (g) It is the intention of the parties that no payment or entitlement pursuant
to this Agreement will give rise to any adverse tax consequences to the Executive
under 26 U.S.C. § 409A. The Agreement shall be interpreted to that end and,
consistent with that objective and notwithstanding any provision herein to the
contrary, the Company may unilaterally take any action it deems necessary or
desirable to amend any provision herein to avoid the application of 26 U.S.C. § 409A
if such action will only benefit the Executive. Further, no effect shall be given to
any provision herein in a manner that reasonably could be expected to give rise to
adverse tax consequences under that provision. Should either party determine that
there is a reasonable possibility that the text of this Agreement could give rise to
such adverse tax consequences, the parties agree to negotiate in good faith to amend
the Agreement to obviate the possibility of such consequences.

     6.     Confidential Information. “Confidential Information” means the Related Companies’
Trade Secrets (as defined below) and other material, observations, and data pertaining to the
business of Related Companies that is obtained by Executive while employed with the Company and
that the Company has not authorized for disclosure to the general public. A “Trade Secret” is any
information or material (business or technical) that would qualify as a trade secret under
applicable state law. The parties agree that the following items of Company information qualify as
Related Companies Trade Secrets and Confidential Information: the database of information accessed
through any proprietary database, internal plans and ideas for expansion and development of new
services and products; internal customer lists, internal analysis of customers and prospective
customers, and compilations of information about particular needs and preferences of customers;
costs, specifications, processes, and related non-public pricing information; business and
marketing plans; internal financial records, projections, and analysis; internal information and
analysis regarding business opportunities (including, without limitation, candidates, plans and
techniques for acquisitions, joint ventures, partnerships and alliances); supplier pricing and
agreements; personnel analysis and private information in personnel files including wages issues
for non-exempt employees; and specialized procedures and techniques used in the management,
operation, distribution, replenishment, and training functions of the Company. Except where
otherwise required by applicable state law, an item does not have to qualify as a Trade Secret in
order to be protected from unauthorized disclosure as Confidential Information under this
Agreement. As used here “Confidential Information” does not include information, material,
observations or data that is authorized for disclosure to the general public by the Related
Companies or that is already readily available to the general public in the same or a substantially
similar form. Executive agrees that Executive shall not disclose to any unauthorized person or use
for Executive’s own purposes any Trade Secret or Confidential Information without the prior written
consent of the governance committee of the Parent’s Board of Directors. The foregoing restriction
shall apply until the aforementioned

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matters become generally known to and available for use by the public (other than as a result of
Executive’s acts or omissions). Executive shall deliver to the Company at the termination of the
Employment Term, or at any other time the Company may request, all memoranda, notes, plans,
records, reports, computer tapes, printouts and software and other documents and data (and copies
thereof) in any form or medium relating to the Confidential Information, Work Product (as defined
below) or the business of the Company or any Subsidiary which Executive may then possess or have
under Executive’s control.

     7.     Inventions and Patents. Executive acknowledges that all inventions,
innovations, improvements, developments, methods, designs, analyses, drawings, reports and all
similar or related information (whether or not patentable) that relate to the Related Companies’
actual or anticipated business, research and development or existing or future products or
services and that are conceived, developed or made by Executive while employed by the Related
Companies (“Work Product”) belong to the applicable Related Company. Executive shall
promptly disclose such Work Product to the governance committee of the Parent’s Board of
Directors and perform all actions reasonably requested by the Company (whether during or after
the Employment Term) to establish and confirm such ownership (including, without limitation,
assignments, consents, powers of attorney and other instruments).

     8.     Protective Covenants: Non-Solicitation. Executive shall be provided one
or more of the following upon the Effective Date of this Agreement: (a) new authorization to
access Confidential Information of the Related Companies, (b) new authorization to represent the
Related Companies in transactions, to receive reimbursement of expenses consistent with the
Company’s policy, and/or other assistance in building goodwill and customer relationships for
the Company, and/or (c) authorization to participate in specialized training provided by the
Company.

            (a) Ancillary to the foregoing and other agreements of the parties
herein, the parties agree and stipulate that the protective covenants provided for
below: are reasonable and necessary to protect legitimate business interests of the
Related Companies; are not against the public interest; and, do not place an
unreasonable burden upon the Executive,

            (b) During the Restricted Period, Executive shall not directly or
indirectly through another person or entity (i) induce or attempt to induce any
employee of the Related Companies to leave the employ of the Related Companies,
or in any way interfere with the relationship between the Related Companies and
any employee thereof, or (ii) hire any person who was an employee of the Related
Companies at any time during the Employment Term.

            (c) During the Restricted Period, Executive shall not directly or
indirectly through another person or entity (i) contact or solicit any Customer of the
Related Companies on behalf of a Competing Business, (ii) induce or attempt to
induce any Customer of the Related Companies to cease or reduce doing business
with the Related Companies, or (iii) interfere with the relationship between any
Customer and the Related Companies.

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            (d) The provisions of this Section 8 will be enforced to the fullest
extent permitted by the law. If, at the time of enforcement, a court shall hold that
the duration or scope provided for in this Agreement are unreasonable under
circumstances then existing, the parties agree that the maximum duration, scope or
area reasonable under such circumstances shall be substituted for the stated
duration, scope or area and that the court shall be allowed to revise the restrictions
contained herein to cover the maximum period, scope and area permitted by law.

            (e) In the event of the breach or a threatened breach by Executive of any of the provisions of this Section 8, the Company, in addition
and supplementary to other rights and remedies existing in its favor, shall be
entitled to temporary injunctive or other relief in order to temporarily enforce or prevent
any violations of the provisions hereof, and to withhold making any unpaid Severance
Payments until a final determination is made on whether Executive has violated the
Agreement. The agreed upon bond, where a bond is required, will be one thousand
dollars ($1,000.00). In the event that Executive is found to have violated a
restriction in this Section 8, the Restricted Period shall be extended by one (1) day
for each day Executive is found to have been in violation of the restriction up to a
maximum of one (1) year.

     9.     Executive’s
Representations. Executive hereby represents and warrants to the Company that (i) the execution, delivery and performance of this Agreement by Executive do
not and shall not conflict with, breach, violate or cause a default under any contract, agreement,
instrument, order, judgment or decree to which Executive is a party or by which Executive is
bound, (ii) Executive is not a party to or bound by any employment agreement, noncompete
agreement or confidentiality agreement with any other person or entity and (iii) upon the
execution and delivery of this Agreement by the Company, this Agreement shall be the valid and
binding obligation of Executive, enforceable in accordance with its terms. Executive hereby
acknowledges and represents that Executive has had an opportunity to consult with independent
legal counsel regarding Executive’s rights and obligations under this Agreement and that
Executive fully understands the terms and conditions contained herein.

     10.     Survival. The Post-termination obligations of Executive provided for in
this Agreement (including, without limitation, Sections 6, 7, 8, 20 and 21) shall survive and
continue in full force in accordance with their terms notwithstanding any termination of the
Employment Term.

     11.     Notices. Any notice provided for in this Agreement shall be in writing
and shall be either personally delivered to the recipient, or mailed by first class mail, return
receipt requested, to the recipient at the address below indicated:

     Notices to Executive: Executive’s address as set forth in the Company’s personnel
records.

     Notices to the Company: Chief Executive Officer, 180 Connect, Inc., 6501 East
Belleview Avenue, Suite 500, Englewood, CO 80111.

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Or such other address or to the attention of such other person as the recipient party shall have
specified by prior written notice to the sending party. Any notice under this Agreement shall be
deemed to have been given when so delivered or mailed.

     12.     Severability. Whenever possible, each provision of this Agreement shall
be interpreted in such manner as to be effective and valid under applicable law, applying the
laws of the State of Colorado in accordance with Section 17 of this Agreement, but if any
provision of this Agreement is held to be invalid, illegal or unenforceable in any respect
under
any applicable law or rule in any jurisdiction, such invalidity, illegality or
unenforceability shall
not affect any other provision or any other jurisdiction, but this Agreement shall be
reformed,
construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable
provision
had never been contained herein.

     13.     Complete Agreement. This Agreement and those documents expressly
referred to herein and other documents of even date herewith embody the complete agreement
and understanding among the parties and supersede and preempt any prior understandings,
agreements or representations by or among the parties, written or oral, which may have related to
the subject matter hereof in any way.

     14.     No Strict Construction. The language used in this Agreement shall be
deemed to be the language chosen by the parties hereto to express their mutual intent, and no
rule
of strict construction shall be applied against any party.

     15.     Counterparts. This Agreement may be executed in separate counterparts,
each of which is deemed to be an original and all of which taken together constitute one and
the
same agreement.

     16.     Successors and Assigns. This Agreement is intended to bind and inure to
the benefit of and be enforceable by Executive, the Company and their respective heirs,
successors and assigns, except that Executive may not assign Executive’s rights or delegate
Executive’s obligations hereunder without the prior written consent of the Company. Executive
expressly consents to the assignment of this Agreement whether or not specifically scheduled as
part of any transaction to any party that is a successor in interest to the Company, or that
purchases any part of the business of the Company if Executive was employed within that part of
the business that is purchased.

     17.     Choice of Law, Venue and Personal Jurisdiction. All issues and questions
concerning the construction, validity, enforcement and interpretation of this Agreement and the
exhibits and schedules hereto shall be governed by, and construed in accordance with, the laws
of the State of Colorado, without giving effect to any choice of law or conflict of law rules or
provisions (whether of the State of Colorado or any other jurisdiction) that would cause the
application of the laws of any jurisdiction other than the State of Colorado. Executive expressly
agrees that the venue of any proceeding concerning the construction, validity, enforcement and
interpretation of this Agreement shall be Denver County, Colorado, and further expressly
consents to personal jurisdiction in the federal or state courts in the State of Colorado.

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     18.     Amendment
and Waiver. The provisions of this Agreement may be amended or waived only with the prior written consent of the Company and Executive, and no
course of conduct or failure or delay in enforcing the provisions of this Agreement shall affect
the validity, binding effect or enforceability of this Agreement.

     19.     Confidentiality of this Agreement. The parties agree that the terms of this
Agreement are confidential. Executive shall not divulge or publicize the terms hereof except as
may be necessary to enforce the promises, covenants and/or understandings contained herein or
as either party may be required to do so by law, court order, subpoena or other judicial action or
government taxing authorities. Executive may disclose the contents of this Agreement to his
immediate family, attorneys and accountants, provided however, that any further disclosure of
the terms of this Agreement by any of these persons to anyone not included within the terms of
this paragraph may be deemed a breach of the Agreement by Executive. The Related Companies
shall be entitled to disclose the terms of this Agreement as required in connection with
compliance or intended compliance with any Canadian or US legislation.

     20.     Arbitration Provisions. Executive and the Company mutually agree to
resolve all legal claims that either party may have (including, without limitation, claims related
to employment, application or candidacy for employment, or cessation of employment with the
Company) through binding arbitration subject to the terms and conditions provided below.
Notwithstanding the foregoing, (a) either party may pursue a temporary restraining order and/or
preliminary injunctive relief, with expedited discovery where necessary, in a court of law to
protect common law or contractual trade-secret or confidential-information rights and to prevent
unfair competition, until such time as an arbitration of all issues of final relief regarding same
can be conducted, and (b) insured workers compensation claims (other than wrongful discharge
claims), and claims for unemployment insurance are excluded from arbitration under this
agreement. Claims covered by this arbitration agreement will be pursued in an individual
claimant proceeding and not as part of representative, collective, or class action. This
Agreement does not prevent the filing of charges with administrative agencies, such as the Equal
Employment Opportunity Commission, the National Labor Relations Board, or equivalent state
agencies. Nothing in this Agreement prevents a party from participating in any investigation or
proceeding conducted by such an agency. However, Executive agrees not to pursue or accept
any legal remedies against Company through any procedure or forum other than arbitration
provided for in this agreement. This agreement will be controlled by the Federal Arbitration Act
(FAA) and enforced pursuant to the FAA, except that state law may be applied where necessary
to make this agreement enforceable if the FAA does not apply.

     The arbitration will be conducted by a mutually agreeable arbitration service or the American
Arbitration Association (AAA) in Denver, Colorado if no other service is agreed upon. The
arbitrator(s) will be selected from a panel of no less than seven alternatives through mutual
agreement or a process of alternating strikes. To initiate a claim, the complaining party will
send a written demand to the opposing party explaining the basis for the claim and the relief
sought under a heading “Demand for Arbitration.” The arbitrator(s) shall be duly licensed to
practice law in the state where the claim arises. Each party will be allowed at least one
deposition. Upon request of either party, and at the expense of the requesting party(s), the
arbitrator(s) shall be required to state in a written opinion all facts and conclusions of law
relied upon to support any decision rendered. No arbitrator will have authority to apply a cause of

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action or remedy that could not be applied by a court of law in the jurisdiction where the dispute
arises under the same facts and circumstances. Upon motion of either party the arbitrator(s) shall
dismiss any claim that would be subject to dismissal under the federal summary judgment standard
for that claim. Either party may bring an action in any court of competent jurisdiction to compel
arbitration under this agreement, to enforce an arbitration award, or to vacate an arbitration
award. In actions seeking to vacate an award, the standard of review applied to the arbitration
decision will be the same as that applied by an appellate court reviewing the decision of a trial
court sitting without a jury, without any special deference to the arbitrator. A record created by
non-stenographic means (e.g., tape recording) can be used with cost of any certified transcription
of same used for appeal borne by the appealing party. In all other respects, the arbitration
procedure will be conducted in accordance with the American Arbitration Association’s employment
dispute resolution rules or other mutually agreeable, arbitration service rules.

     The Company will pay the arbitration fees and expenses less any filing fee amount that
Executive would otherwise have to pay to pursue a comparable lawsuit in a United States district
court or state court (whichever is less) in the jurisdiction where the dispute arises. All cost
and fee payment obligations will be subject to a final arbitration award on who should bear
arbitration costs and fees in accordance with applicable law. Except for those costs otherwise
provided for above, each party will bear its own attorney’s fees and costs unless otherwise
awarded by the arbitrator. Executive and the Company expressly waive trial by jury for all
claims covered by this agreement. All other rights, remedies, exhaustion requirements,
statutes of limitation and defenses applicable to claims asserted in a court of law will apply in
the arbitration.

     21.     Notice and Early Resolution Conference. The parties recognize that it is
not possible to anticipate every possible issue that may arise relative to the protection of
legitimate business interests in a changing business environment Accordingly, Executive agrees
that during employment with the Related Companies and for a period of one (1) year thereafter,
Executive will give Company thirty (30) days written notice before going to work for a
Competing Business, and agrees to meet with Company (if the Company so requests) to
negotiate in a good faith effort to determine what restrictions should be applicable to Executive’s
activities in his new position. No rights of either party will be waived if the parties do not come
to an agreement and/or the Company elects not to have such a conference.

     22.     Reconciliation of Existing Rights and Interests. Executive agrees that any
and all rights to the use and control of Trade Secrets, Confidential Information, proprietary
training, and Company goodwill, that Executive may have acquired in the course of past
association with the Company are hereby transferred to Company if same are not already
exclusively held by Company, and Executive waives any and all claims that Executive may have
to the contrary.

     23.     Third Party Beneficiary. The protections and rights provided to the

Company through this contract shall inure to the benefit of Parent and Related Companies as
third party beneficiaries, and shall be fully enforceable by the Parent and Related Companies to
protect and promote their interests, to the maximum extent allowed by law.

12

 

     24.     Definitions.

            (a) “Base Salary” shall mean the annual base salary amount

provided for in paragraph 4(a) hereof.

            (b) “Cause” shall mean:

      (i) the continued and willful failure of Executive to perform substantially Executive’s
duties with the Related Companies (other than any such failure resulting from incapacity due to
physical or mental illness), after:

     (A) a written notice is delivered to Executive by the
governance committee of the Parent’s Board of Directors that identifies
the manner in which the Executive has not substantially performed
Executive’s duties, and,

     (B) reasonable opportunity of not less than thirty (30) days is

given the Executive to cure the performance failure; or,

      (ii) the engaging by Executive in illegal conduct or acts or moral turpitude including but
not limited to crimes of dishonesty or any other conduct which is materially injurious to the
Company or which violates the Code of Ethical Behavior of the Company or which violates any other
material policy of the Company.

            (c) “Change in Control” shall mean a Change in Control of a
nature that would be required to be reported in response to Item 6(e) of Schedule
14A of Regulation 14A promulgated under the Exchange Act, or any successor
provision thereto, whether or not the Parent is then subject to such reporting
requirement; provided that, without limitation, such a Change in Control shall be
deemed to have occurred if:

      (i) any change in the “person” or “group” (as such terms are used in Section 13(d) and
14(d) of the Exchange Act) that possesses, directly or indirectly, the power to direct or cause
the direction of the management and the policies of the Parent, whether through the ownership of
voting securities, by contract or otherwise;

      (ii) any person or group (as defined herein) is or becomes the “beneficial owner” (as
defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the
Parent representing 35% or more of the combined voting power of the Parent’s then outstanding
securities (other than the Parent or any employee benefit plan of the Parent; and, for purposes
of the Plan, no Change in Control shall be deemed to have occurred as a result of the
“beneficial ownership,” or changes therein, of the Parent’s securities by either of the
foregoing),

13

 

      (iii) there shall be consummated:

     (A) any consolidation or merger of the Parent in which the
Parent is not the surviving or continuing corporation or pursuant to
which shares of common stock would be converted into or exchanged
for cash, securities or other property, other than a merger of the Parent
in which the holders of common stock immediately prior to the merger
have, directly or indirectly, at least a 65% ownership interest in the
outstanding common stock of the surviving corporation immediately
after the merger, or

     (B) any sale, lease, exchange or other transfer (in one
transaction or a series of related transactions) of all, or substantially all,
of the assets of the Parent other than any such transaction with entities
in which the holders of Parent common stock, directly or indirectly,
have at least a 65% ownership interest;

      (iv) the stockholders of the Parent approve any plan or proposal for the liquidation or
dissolution of the Parent, or

      (v) as the result of, or in connection with, any cash tender offer, exchange offer, merger
or other business combination, sale of assets, proxy or consent solicitation (other than by the
Board), or contested election (a “Control Transaction”), the members of the Board immediately
prior to the first public announcement relating to such Control Transaction shall thereafter
cease to constitute a majority of the Board;

provided that, solely in the case of an event described under sub-clause (ii) or
sub-clause (iii)(A) of this clause (c), if there is no material change in the Executive’s
position or compensation or relocation in excess of twenty (20) miles from the office location at
the time of the Effective Date of this Agreement to the detriment of the Executive associated
with such event, such event shall be deemed not to be a Change in Control if either (1) the
Executive is provided with a similar employment agreement having a term of at least two years and
containing substantively identical terms and conditions (or at least terms and conditions no less
favorable to Executive) (including, without limitation, position and duties, reporting
responsibility, base salary and benefits, and change in control, termination, and severance
payment rights), or (2) this Agreement continues in full force and effect; except that
with respect to either of the agreements referenced in the immediately preceding clauses (1) and
(2), if consummation of such event results in the privatization of the Parent and Executive is an
equity participant in such privatization transaction, then if the only diminution in Executive’s
duties in the referenced agreements is the loss of duties directly associated with the Parent’s
former public company status, the event shall not constitute a Change in Control.

            (d) “Competing Business” means any entity or person other than the Related Companies
that is engaged in development, production, marketing or selling of a “Conflicting
Product.”

14

 

            (e) “Conflicting Product” means products or services that would
displace, compete with, or interfere with the products or services of Related
Company that Executive worked with. In this regard, the Related Companies’
products and services are understood to be of the following nature:

      (i) technical support services to the direct broadcast satellite and cable industries
including, without limitation, new installations, reconnections, disconnections, service
upgrades and downgrades and service calls at the premises of subscribers of broadband video,
data and voice technologies; and

      (ii) products related to the provision of the above technical support services.

            (f) “Customer” means any person or entity that has a business
relationship with a Related Company and that Executive has contact with,
supervises contact with, or handles Confidential Information about at any time
during the last two (2) years or less of his employment with Company.

            (g) “Employment Term” shall mean the continuous period of
employment that begins upon the Effective Date of this Agreement and that ends as
provided for in Section 5.

            (h) “Good Reason” shall mean:

      (i) a material breach by the Company of a material provision of this Agreement;

      (ii) a change in the location of Executive’s position of over twenty (20) miles or that
otherwise requires the relocation of Executive’s residence, unless the relocation is agreed to
in writing by the Executive;

      (iii) a material change in the position, duties and/or responsibilities of Executive
(including, without limitation, a change that requires Executive to report to a lesser position
than the CEO or that results in Executive no longer serving as the CLO of a public company) or a
change in compensation, in each case, to the detriment of the Executive; except that if
Executive is no longer serving as the CLO of a public company solely as the result of
consummation of an event described under sub-clause (ii) or sub-clause (iii)(A) of Section 24(c)
hereof that results in the privatization of the Parent and Executive is an equity participant in
such privatization transaction, then Executive’s loss of duties directly associated with the
Parent’s former public company status shall not constitute Good Reason;

      (iv) a failure by the Parent to maintain adequate directors’ and officers’ liability
insurance; or

      (v) a Change in Control

15

 

that is not cured by the Company within ten (10) days after Executive gives the Company written
notice of the Good Reason.

            (i) “Initial Term” shall be the period beginning upon the Effective Date of this
Agreement and continuing for a period of three (3) years.

            (j) “Parent” means 180 Connect Inc., a corporation incorporated in the State of
Delaware.

            (k) “Related Companies” means the Parent, the Company and their respective
Subsidiaries.

            (1) “Renewal Term” shall be a new and independent term that shall last for a period
of one (1) year from the date of the expiration of the immediately preceding term.

            (m) “Restricted Period” means during Executive’s employment with the Related
Companies and for one (1) year thereafter.

            (n) “Severance Payment” shall mean an aggregate sum equal to (i) one (1) year of
Executive’s annual Base Salary and Vehicle Allowance, plus (ii) an amount equal to 50% of
Executive’s Base Salary pro-rated for the number of days elapsed in the year of termination through
the date of termination (e.g., if Executive’s date of
termination is the 100th day of a 365-day
year, the amount for this clause (ii) shall be the product of 100/365 x 0.50 x Executive’s Base
Salary).

            (o) “Subsidiaries” shall mean any corporation of which the securities having a
majority of the voting power in electing directors are, at the time of determination, owned by the
Parent directly or owned by the Parent indirectly through one of more Subsidiaries.

            (p) “Vehicle Allowance” shall mean the monthly vehicle allowance amount provided for
in paragraph 4(a) hereof.

16

 

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the dates indicated
below, with the understanding that the Effective Date of this Agreement is October 17, 2007.

	 	 	 	 	 
	 	180 CONNECT, INC.

 	 
	 	By:  	/s/ Peter Giacalone
 	 
	 	 	Name:  	Peter Giacalone 	 
	 	 	Title:  	Chief Executive Officer
 	 
	 	 	Date:  	 December 21, 2007	 
	 

	 	 	 	 	 
	 	EXECUTIVE

 	 
	 	By:  	/s/ Kyle M. Hall
 	 
	 	 	Name:  	Kyle M. Hall  	 
	 	 	Date:  	 December 21, 2007	 
	 

17EX-10.48 Warrant to Purchase Common Stock

 

Exhibit 10.48

NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES
INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD,
TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE
SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL TO THE
HOLDER, IN A FORM REASONABLY ACCEPTABLE TO THE COMPANY (IF AN OPINION OF COUNSEL IS REQUESTED BY
THE COMPANY), THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE
144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN
CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE
SECURITIES.

180 CONNECT, INC.

Warrant To Purchase Common Stock

Warrant No.:

Number of Shares of Common Stock: 356,9521

Date of Issuance: November 9, 2007 (“Issuance Date”)

     180 Connect, Inc., a Delaware corporation (the “Company”), hereby certifies that, for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, MAGNETAR
CAPITAL MASTER FUND, LTD, the registered holder hereof or its permitted assigns (the “Holder”), is
entitled, subject to the terms set forth below, to purchase from the Company, at the Exercise Price
(as defined below) then in effect, upon exercise of this Warrant to Purchase Common Stock
(including any Warrants to Purchase Common Stock issued in exchange, transfer or replacement
hereof, the “Warrant”), at any time or times on or after the Issuance Date, but not after 11:59
p.m., New York time, on the Expiration Date (as defined below), 356,9522 fully paid and
nonassessable shares of Common Stock (as defined below) (the “Warrant Shares”). Except as
otherwise defined herein, capitalized terms in this Warrant shall have the meanings set forth in
Section 16.

1. EXERCISE OF WARRANT.

     (a) Mechanics of Exercise. Subject to the terms and conditions hereof (including, without
limitation, the limitations set forth in Section 1(f)), this Warrant may be exercised by the Holder
on any day on or after the Issuance Date, in whole or in part, by (i) delivery of a written notice,
in the form attached hereto as Exhibit A (the “Exercise Notice”), of the Holder’s election to
exercise this Warrant and (ii) (A) payment to the Company of an amount equal to the then-applicable
Exercise Price multiplied by the number of Warrant Shares as to which this

 

			
	1	 	Subject to the reduction set forth in Section 1(h).
	 
	2	 	Subject to the reduction set forth in Section 1(h).

1

 

Warrant is being exercised (the “Aggregate Exercise Price”) in cash or wire transfer of
immediately available funds or (B) by notifying the Company that this Warrant is being exercised
pursuant to a Cashless Exercise (as defined in Section 1(d)). The Holder shall not be required to
deliver the original of this Warrant in order to effect an exercise hereunder. Execution and
delivery of the Exercise Notice with respect to less than all of the Warrant Shares shall have the
same effect as cancellation of the original of this Warrant and issuance of a new Warrant
evidencing the right to purchase the remaining number of Warrant Shares. Execution and delivery of
the Exercise Notice for all of the Warrant Shares shall have the same effect as cancellation of the
original of this Warrant after delivery of the Warrant Shares in accordance with the terms hereof.
On or before the first (1st) Business Day following the date on which the Company has
received each of the Exercise Notice and the Aggregate Exercise Price (or notice of a Cashless
Exercise) (the “Exercise Delivery Documents”), the Company shall transmit by facsimile an
acknowledgment of confirmation of receipt of the Exercise Delivery Documents to the Holder and the
Company’s transfer agent (the “Transfer Agent”). On or before the third (3rd) Business
Day following the date on which the Company has received all of the Exercise Delivery Documents
(the “Share Delivery Date”), the Company shall (X) provided that the Transfer Agent is
participating in The Depository Trust Company (“DTC”) Fast Automated Securities Transfer Program,
upon the request of the Holder, credit such aggregate number of shares of Common Stock to which the
Holder is entitled pursuant to such exercise to the Holder’s or its designee’s balance account with
DTC through its Deposit Withdrawal Agent Commission system, or (Y) if the Transfer Agent is not
participating in the DTC Fast Automated Securities Transfer Program, issue and deliver to the
Holder or, at Holder’s instruction pursuant to the Exercise Notice, Holder’s agent or designee, in
each case, sent by reputable overnight courier to the address as specified in the Exercise Notice,
a certificate, registered in the Company’s share register in the name of the Holder or its designee
(as indicated in the Exercise Notice), for the number of shares of Common Stock to which the Holder
is entitled pursuant to such exercise. Upon delivery of the Exercise Delivery Documents, the
Holder shall be deemed for all corporate purposes to have become the holder of record of the
Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date such
Warrant Shares are credited to the Holder’s DTC account or the date of delivery of the certificates
evidencing such Warrant Shares, as the case may be. If this Warrant is submitted in connection
with any exercise pursuant to this Section 1(a) and the number of Warrant Shares represented by
this Warrant submitted for exercise is greater than the number of Warrant Shares being acquired
upon an exercise, then the Company shall as soon as practicable and in no event later than three
(3) Business Days after any exercise and at its own expense, issue and deliver to the Holder (or
its designee) a new Warrant (in accordance with Section 7(d)) representing the right to purchase
the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant,
less the number of Warrant Shares with respect to which this Warrant is exercised. No fractional
shares of Common Stock are to be issued upon the exercise of this Warrant, but rather the number of
shares of Common Stock to be issued shall be rounded up to the nearest whole number. The Company
shall pay any and all taxes which may be payable with respect to the issuance and delivery of
Warrant Shares upon exercise of th
is Warrant.

     (b) Exercise Price. For purposes of this Warrant, “Exercise Price” means $0.01, subject
to adjustment as provided herein.

2

 

     (c) Company’s Failure to Timely Deliver Securities. If the Company shall fail, for any
reason or for no reason, to issue and deliver to the Holder, within three (3) Business Days of
receipt of the Exercise Delivery Documents, a certificate for the number of shares of Common Stock
to which the Holder is entitled and register such shares of Common Stock on the Company’s share
register or to credit the Holder’s balance account with DTC for such number of shares of Common
Stock to which the Holder is entitled upon the Holder’s exercise of this Warrant (as the case may
be), and if on or after such third (3rd) Business Day the Holder purchases (in an open
market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the
Holder of shares of Common Stock issuable upon such exercise that the Holder anticipated receiving
from the Company (a “Buy-In”), then, in addition to all other remedies available to the Holder, the
Company shall, within three (3) Business Days after the Holder’s request and in the Holder’s
discretion, either (i) pay cash to the Holder in an amount equal to the Holder’s total purchase
price (including brokerage commissions, if any) for the shares of Common Stock so purchased (the
“Buy-In Price”), at which point the Company’s obligation to deliver such certificate (and to issue
such shares of Common Stock) shall terminate, or (ii) promptly honor its obligation to deliver to
the Holder a certificate or certificates representing such shares of Common Stock or credit the
Holder’s balance account with DTC for the number of shares of Common Stock to which the Holder is
entitled upon such Holder’s exercise hereunder (as the case may be) and pay cash to the Holder in
an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of
shares of Common Stock times (B) the VWAP of the Common Stock for the five (5) Trading Day period
immediately preceding the date of the Exercise Notice.

     (d) Cashless Exercise. Notwithstanding anything contained herein to the contrary (other
than Section 1(f) below), the Holder may, in its sole discretion, exercise this Warrant in whole or
in part and, in lieu of making the cash payment otherwise contemplated to be made to the Company
upon such exercise in payment of the Aggregate Exercise Price, elect instead to receive upon such
exercise the “Net Number” of shares of Common Stock determined according to the following formula
(a “Cashless Exercise”):

	 	 	 
	Net Number =

	 	(A x B) - (A x C)
	 

	 	B

For purposes of the foregoing formula:

A= the total number of shares with respect to which this Warrant is then being
exercised.

B= the VWAP of the Common Stock for the five (5) Trading Day period immediately
preceding the date of the Exercise Notice.

C= the Exercise Price then in effect for the applicable Warrant
Shares at the time of such exercise.

     (e) Disputes. In the case of a dispute as to the determination of the Exercise Price or
the arithmetic calculation of the number of Warrant Shares to be issued pursuant to the terms
hereof, the Company shall promptly issue to the Holder the number of Warrant Shares that are
not disputed and resolve such dispute in accordance with Section 13.

3

 

     (f) Limitations on Exercises. Notwithstanding anything to the contrary contained in
this Warrant, this Warrant shall not be exercisable by the Holder hereof to the extent (but only to
the extent) that, if exercisable by the Holder, the Holder or any of its affiliates would
beneficially own in excess of 9.90% (the “Maximum Percentage”) of the outstanding shares of Common
Stock. To the extent the above limitation applies, the determination of whether this Warrant shall
be exercisable (vis-a-vis other convertible, exercisable or exchangeable securities owned by the
Holder) and of which warrants shall be exercisable (as among all warrants owned by the Holder)
shall, subject to such Maximum Percentage limitation, be determined on the basis of the first
submission to the Company for conversion, exercise or exchange (as the case may be). No prior
inability to exercise this Warrant pursuant to this paragraph shall have any effect on the
applicability of the provisions of this paragraph with respect to any subsequent determination of
exercisability. For the purposes of this paragraph, beneficial ownership and all determinations and
calculations (including, without limitation, with respect to calculations of percentage ownership)
shall be determined by the Holder in accordance with Section 13(d) of the Securities Exchange Act
of 1934, as amended (the “1934 Act”), and the rules and regulations promulgated thereunder. The
provisions of this paragraph shall be implemented in a manner otherwise than in strict conformity
with the terms of this paragraph to correct this paragraph (or any portion hereof) which may be
defective or inconsistent with the intended Maximum Percentage beneficial ownership limitation
herein contained or to make changes or supplements necessary or desirable to properly give effect
to such Maximum Percentage limitation. The limitations contained in this paragraph shall apply to a
successor Holder of this Warrant. The holders of Common Stock shall be third party beneficiaries of
this paragraph and the Company may not waive this paragraph without the consent of holders of a
majority of its Common Stock. For any reason at any time, upon the written or oral request of the
Holder, the Company shall within one (1) Business Day confirm orally and in writing to the Holder
the number of shares of Common Stock then outstanding, including by virtue of any prior conversion
or exercise of convertible or exercisable securities into Common Stock, including, without
limitation, pursuant to this Warrant.

     (g) Insufficient Authorized Shares. The Company shall at all times keep reserved for
issuance under this Warrant a number of shares of Common Stock as shall be necessary to satisfy the
Company’s obligation to issue shares of Common Stock hereunder (without regard to any limitation
otherwise contained herein with respect to the number of shares of Common Stock that may be
acquirable upon exercise of this Warrant). If, notwithstanding the foregoing, and not in limitation
thereof, at any time while this Warrant remains outstanding the Company does not have a sufficient
number of authorized and unreserved shares of Common Stock to satisfy its obligation to reserve for
issuance upon exercise of this Warrant at least a number of shares of Common Stock equal to the
maximum number of shares of Common Stock as shall from time to time be necessary to effect the
exercise of all this Warrant (without regard to any limitations on exercise contained herein) (the
“Required Reserve Amount”) (an “Authorized Share Failure”), then the Company shall immediately take
all action necessary to increase the Company’s authorized shares of Common Stock to an amount
sufficient to allow the Company to reserve the Required Reserve Amount for this entire Warrant.
Without limiting the generality

4

 

of the foregoing sentence, as soon as practicable after the date of the occurrence of an
Authorized Share Failure, but in no event later than sixty (60) days after the occurrence of
such Authorized Share Failure, the Company shall hold a meeting of its stockholders for the
approval of an increase in the number of authorized shares of Common Stock. In connection with such
meeting, the Company shall provide each stockholder with a proxy statement and shall use its best
efforts to solicit its stockholders’ approval of such increase in authorized shares of Common Stock
and to cause its board of directors to recommend to the stockholders that they approve such
proposal.

     (h) Net Exercise; Withholding. Notwithstanding anything to the contrary contained in
this Warrant, (i) the Company shall withhold, on behalf of Holder, 90,559 Warrant Shares that are
subject to this Warrant in full satisfaction of all of Holder’s United States income tax
obligations relating to the matters set forth in the letter agreement, dated as of the date hereof,
by and between the Company and the Holder, (ii) the Company shall, within 1 business day after the
date hereof, remit $202,960.83 in cash to the Internal Revenue Service on Holder’s behalf in full
satisfaction of such income tax obligations and (iii) as a result of the withholding and payment
contemplated by this paragraph, this Warrant shall only be exercisable by Holder for 266,393
Warrant Shares (subject to the adjustments set forth in Section 2 hereof).

2. ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES. The Exercise Price and number
of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment from time to
time as set forth in this Section 2.

     (a) Stock Dividends and Splits. If the Company, at any time on or after the date hereof,
(i) pays a stock dividend on one or more classes of its then outstanding shares of Common Stock or
otherwise makes a distribution on any class of capital stock that is payable in shares of Common
Stock, (ii) subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or
more classes of its then outstanding shares of Common Stock into a larger number of shares or (iii)
combines (by combination, reverse stock split or otherwise) one or more classes of its then
outstanding shares of Common Stock into a smaller number of shares, then in each such case the
Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of
shares of Common Stock outstanding immediately before such event and of which the denominator shall
be the number of shares of Common Stock outstanding immediately after such event. Any adjustment
made pursuant to clause (i) of this paragraph shall become effective immediately after the record
date for the determination of stockholders entitled to receive such dividend or distribution, and
any adjustment pursuant to clause (ii) or (iii) of this paragraph shall become effective
immediately after the effective date of such subdivision or combination. If any event requiring an
adjustment under this paragraph occurs during the period that an Exercise Price is calculated
hereunder, then the calculation of such Exercise Price shall be adjusted appropriately to reflect
such event.

     (b) Number of Warrant Shares. Simultaneously with any adjustment to the Exercise Price
pursuant to paragraph (a) of this Section 2, the number of Warrant Shares that may be purchased
upon exercise of this Warrant shall be increased or decreased proportionately, so that after such
adjustment the aggregate Exercise Price payable hereunder for the adjusted number of Warrant Shares
shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment
(without regard to any limitations on exercise contained herein).

5

 

     (c) Other Events. In the event that the Company (or any direct or indirect subsidiary
thereof) shall take any action to which the provisions hereof are not strictly applicable, or, if
applicable, would not operate to protect the Holder from dilution or if any event occurs of the
type contemplated by the provisions of this Section 2 but not expressly provided for by such
provisions (including, without limitation, the granting of stock appreciation rights, phantom stock
rights or other rights with equity features), then the Company’s Board of Directors shall in good
faith determine and implement an appropriate adjustment in the Exercise Price and the number of
Warrant Shares (if applicable) so as to protect the rights of the Holder; provided that no such
adjustment pursuant to this Section 2(c) will increase the Exercise Price or decrease the number of
Warrant Shares as otherwise determined pursuant to this Section 2, provided further that if the
Holder does not accept such adjustments as appropriately protecting its interests hereunder against
such dilution, then the Company’s Board of Directors and the Holder shall agree, in good faith,
upon an independent investment bank of nationally recognized standing to make such appropriate
adjustments, whose determination shall be final and binding and whose fees and expenses shall be
borne by the Company.

     (d) Calculations. All calculations under this Section 2 shall be made to the nearest cent
or the nearest 1/100th of a share, as applicable. The number of shares of Common Stock
outstanding at any given time shall not include shares owned or held by or for the account of the
Company, and the disposition of any such shares shall be considered an issue or sale of Common
Stock.

3. RIGHTS UPON DISTRIBUTION OF ASSETS. If the Company shall declare or make any dividend or
other distribution of its assets (or rights to acquire its assets) to holders of shares of Common
Stock, by way of return of capital or otherwise (including, without limitation, any distribution of
cash, stock or other securities, property or options by way of a dividend, spin off,
reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a
“Distribution”), at any time after the issuance of this Warrant, then, in each such case, the
Holder shall be entitled to participate in such Distribution to the same extent that the Holder
would have participated therein if the Holder had held the number of shares of Common Stock
acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise
hereof, including without limitation, the Maximum Percentage) immediately before the date on which
a record is taken for such Distribution, or, if no such record is taken, the date as of which the
record holders of shares of Common Stock are to be determined for the participation in such
Distribution (provided, however, that to the extent that the Holder’s right to participate in any
such Distributions would result in the Holder exceeding the Maximum Percentage, then the Holder
shall not be entitled to participate in such Distribution to such extent (or the beneficial
ownership of any such shares of Common Stock as a result of such Distribution to such extent) and
such Distribution to such extent shall be held in abeyance for the benefit of the Holder until such
time, if ever, as its right thereto would not result in the Holder exceeding the Maximum
Percentage).

6

 

4. PURCHASE RIGHTS; FUNDAMENTAL TRANSACTIONS.

     (a) Purchase Rights. In addition to any adjustments pursuant to Section 2 above, if at
any time the Company grants, issues or sells any Options, Convertible Securities or rights to
purchase stock, warrants, securities or other property pro rata to the record holders of any class
of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the
Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable
upon complete exercise of this Warrant (without regard to any limitations on exercise hereof,
including without limitation, the Maximum Percentage) immediately before the date on which a record
is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken,
the date as of which the record holders of shares of Common Stock are to be determined for the
grant, issue or sale of such Purchase Rights (provided, however, that to the extent that the
Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the
Maximum Percentage, then the Holder shall not be entitled to participate in such Purchase Right to
such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase
Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the
Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the
Maximum Percentage).

     (b) Fundamental Transactions. The Company shall not enter into or be party to a
Fundamental Transaction unless the Successor Entity assumes in writing all of the obligations of
the Company under this Warrant in accordance with the provisions of this Section 4(b) pursuant to
written agreements in form and substance satisfactory to the Holder and approved by the Holder
prior to such Fundamental Transaction, including agreements to deliver to the Holder in exchange
for this Warrant a security of the Successor Entity evidenced by a written instrument substantially
similar in form and substance to this Warrant, including, without limitation, which is exercisable
for a corresponding number of shares of capital stock equivalent to the shares of Common Stock
acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the
exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which
applies the exercise price hereunder to such shares of capital stock (but taking into account the
relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value
of such shares of capital stock, such adjustments to the number of shares of capital stock and such
exercise price being for the purpose of protecting the economic value of this Warrant immediately
prior to the consummation of such Fundamental Transaction), and which is satisfactory in form and
substance to the Holder. Upon the occurrence of any Fundamental Transaction, the Successor Entity
shall succeed to, and be substituted for (so that from and after the date of such Fundamental
Transaction, the provisions of this Warrant referring to the “Company” shall refer instead to the
Successor Entity), and may exercise every right and power of the Company and shall assume all of
the obligations of the Company under this Warrant with the same effect as if such Successor Entity
had been named as the Company herein. Upon consummation of the Fundamental Transaction, the
Successor Entity shall deliver to the Holder confirmation that there shall be issued upon exercise
of this Warrant at any time after the consummation of the Fundamental Transaction, in lieu of the
shares of the Common Stock (or other securities, cash, assets or other property (except such items
still issuable under Sections 3 and 4(a) above, which shall continue to be receivable thereafter))
issuable upon the exercise of this Warrant prior to such Fundamental Transaction, such shares of
the publicly traded Common Stock (or its equivalent) of the Successor Entity (including its Parent
Entity)

7

 

which the Holder would have been entitled to receive upon the happening of such Fundamental
Transaction had this Warrant been exercised immediately prior to such Fundamental Transaction
(without regard to any limitations on the exercise of this Warrant), as adjusted in accordance with
the provisions of this Warrant. In addition to and not in substitution for any other rights
hereunder, prior to the consummation of any Fundamental Transaction pursuant to which holders
of shares of Common Stock are entitled to receive securities or other assets with respect to or in
exchange for shares of Common Stock (a “Corporate Event”), the Company shall make appropriate
provision to insure that the Holder will thereafter have the right to receive upon an exercise of
this Warrant at any time after the consummation of the Fundamental Transaction but prior to the
Expiration Date, in lieu of the shares of the Common Stock (or other securities, cash, assets or
other property (except such items still issuable under Sections 3 and 4(a) above, which shall
continue to be receivable thereafter)) issuable upon the exercise of the Warrant prior to such
Fundamental Transaction, such shares of stock, securities, cash, assets or any other property
whatsoever (including warrants or other purchase or subscription rights) which the Holder would
have been entitled to receive upon the happening of such Fundamental Transaction had the Warrant
been exercised immediately prior to such Fundamental Transaction (without regard to any limitations
on the exercise of this Warrant). Provision made pursuant to the preceding sentence shall be in a
form and substance reasonably satisfactory to the Holder. The provisions of this Section 4 shall
apply similarly and equally to successive Fundamental Transactions and Corporate Events and shall
be applied as if this Warrant (and any such subsequent warrants) were fully exercisable and without
regard to any limitations on the exercise of this Warrant (provided that the Holder shall continue
to be entitled to the benefit of the Maximum Percentage, applied however with respect to shares of
capital stock registered under the 1934 Act and thereafter receivable upon exercise of this Warrant
(or any such other warrant)).

5. NONCIRCUMVENTION. The Company hereby covenants and agrees that the Company will not, by
amendment of its Certificate of Incorporation, Bylaws or through any reorganization, transfer of
assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or
any other voluntary action, avoid or seek to avoid the observance or performance of any of the
terms of this Warrant, and will at all times in good faith carry out all the provisions of this
Warrant and take all action as may be required to protect the rights of the Holder. Without
limiting the generality of the foregoing, the Company (i) shall not increase the par value of any
shares of Common Stock receivable upon the exercise of this Warrant above the Exercise Price then
in effect, (ii) shall take all such actions as may be necessary or appropriate in order that the
Company may validly and legally issue fully paid and nonassessable shares of Common Stock upon the
exercise of this Warrant, and (iii) shall, so long as this Warrant is outstanding, take all action
necessary to reserve and keep available out of its authorized and unissued shares of Common Stock,
solely for the purpose of effecting the exercise of this Warrant, the maximum number of shares of
Common Stock as shall from time to time be necessary to effect the exercise of this Warrant
(without regard to any limitations on exercise).

6. WARRANT HOLDER NOT DEEMED A STOCKHOLDER. Except as otherwise specifically provided
herein, the Holder, solely in such Person’s capacity as a holder of this Warrant, shall not be
entitled to vote or receive dividends or be deemed the holder of share capital of the Company for
any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder,
solely in such Person’s capacity as the Holder of this

8

 

Warrant, any of the rights of a stockholder
of the Company or any right to vote, give or withhold consent to any corporate action (whether any
reorganization, issue of stock, reclassification of stock, consolidation, merger, conveyance or
otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise,
prior to the issuance to the Holder of the Warrant Shares which such Person is then entitled to
receive upon the due exercise of this Warrant. In
addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the
Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder
of the Company, whether such liabilities are asserted by the Company or by creditors of the
Company. Notwithstanding this Section 6, the Company shall provide the Holder with copies of the
same notices and other information given to the stockholders of the Company generally,
contemporaneously with the giving thereof to the stockholders.

7. REISSUANCE OF WARRANTS.

     (a) Transfer of Warrant. If this Warrant is to be transferred, the Holder shall surrender
this Warrant to the Company, whereupon the Company will forthwith issue and deliver upon the order
of the Holder a new Warrant (in accordance with Section 7(d)), registered as the Holder may
request, representing the right to purchase the number of Warrant Shares being transferred by the
Holder and, if less than the total number of Warrant Shares then underlying this Warrant is being
transferred, a new Warrant (in accordance with Section 7(d)) to the Holder representing the right
to purchase the number of Warrant Shares not being transferred.

     (b) Lost, Stolen or Mutilated Warrant. Upon receipt by the Company of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant (as to
which a written certification and the indemnification contemplated below shall suffice as such
evidence), and, in the case of loss, theft or destruction, of any indemnification undertaking by
the Holder to the Company in customary and reasonable form and, in the case of mutilation, upon
surrender and cancellation of this Warrant, the Company shall execute and deliver to the Holder a
new Warrant (in accordance with Section 7(d)) representing the right to purchase the Warrant Shares
then underlying this Warrant.

     (c) Exchangeable for Multiple Warrants. This Warrant is exchangeable, upon the surrender
hereof by the Holder at the principal office of the Company, for a new Warrant or Warrants (in
accordance with Section 7(d)) representing in the aggregate the right to purchase the number of
Warrant Shares then underlying this Warrant, and each such new Warrant will represent the right to
purchase such portion of such Warrant Shares as is designated by the Holder at the time of such
surrender; provided, however, that no warrants for fractional shares of Common Stock shall be
given.

     (d) Issuance of New Warrants. Whenever the Company is required to issue a new Warrant
pursuant to the terms of this Warrant, such new Warrant (i) shall be of like tenor with this
Warrant, (ii) shall represent, as indicated on the face of such new Warrant, the right to purchase
the Warrant Shares then underlying this Warrant (or in the case of a new Warrant being issued
pursuant to Section 7(a) or Section 7(c), the Warrant Shares designated by the Holder which, when
added to the number of shares of Common Stock underlying the other new Warrants issued in
connection with such issuance, does not exceed the number of Warrant Shares then underlying this
Warrant), (iii) shall have an issuance date, as indicated on the face of such new Warrant which is
the same as the Issuance Date, and (iv) shall have the same rights and conditions as this Warrant.

9

 

8. NOTICES. Whenever notice is required to be given under this Warrant, it must be in
writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally;
(ii) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically or
electronically generated and kept on file by the sending party); or (iii) one (1) Business Day
after deposit with an overnight courier service with next day delivery specified, in each case,
properly addressed to the party to receive the same. The addresses and facsimile numbers for such
communications shall be:

If to the Company:

180 Connect, Inc.

6501 East Belleview Avenue, Suite 500

Englewood, CO 80111

Facsimile: (303) 395-6197

Attention: CEO

If to Holder:

Magnetar Capital Master Fund, Ltd

c/o Magnetar Financial LLC

1603 Orrington Avenue, 13th Floor

Evanston, IL 60201

Facsimile: (847) 869-2064

with a copy (for informational purposes only) to:

Greenberg Traurig, LLP

77 W. Wacker Drive, Suite 2500

Chicago, Illinois 60601

Telephone: (312) 456-8400

Facsimile: (312) 456-8435

Attention: Peter H. Lieberman, Esq.

      Todd A. Mazur, Esq.

or to such other address and/or facsimile number and/or to the attention of such other Person as
the recipient party has specified by written notice given to each other party five (5) days prior
to the effectiveness of such change. The Company shall provide the Holder with prompt written
notice of all actions taken pursuant to this Warrant, including in reasonable detail a description
of such action and the reason therefor. Without limiting the generality of the foregoing, the
Company will give written notice to the Holder (i) immediately upon each adjustment of the Exercise
Price and the number of Warrant Shares, setting forth in reasonable detail, and certifying, the
calculation of such adjustment(s) and (ii) at least fifteen (15) days prior to the date

10

 

on which
the Company closes its books or takes a record (A) with respect to any dividend or distribution
upon the shares of Common Stock, (B) with respect to any grants, issuances or sales of any Options,
Convertible Securities or rights to purchase stock, warrants, securities or other property to
holders of shares of Common Stock or (C) for determining rights to vote with respect to any
Fundamental Transaction, dissolution or liquidation, provided in each case that such information
shall be made known to the public prior to or in conjunction with such notice being provided to the
Holder and (iii) at least ten (10) Trading Days prior to the consummation of any
Fundamental Transaction. To the extent that any notice provided hereunder constitutes, or
contains, material, non-public information regarding the Company or any of its subsidiaries, the
Company shall simultaneously file such notice with the Securities and Exchange Commission pursuant
to a Current Report on Form 8-K.

9. AMENDMENT AND WAIVER. Except as otherwise provided herein, the provisions of this
Warrant (other than Section 1(f)) may be amended and the Company may take any action herein
prohibited, or omit to perform any act herein required to be performed by it, only if the Company
has obtained the prior written consent of the Holder.

10. SEVERABILITY. If any provision of this Warrant or the application thereof becomes or
is declared by a court of competent jurisdiction to be illegal, void or unenforceable, the
remainder of the terms of this Warrant will continue in full force and effect.

11. GOVERNING LAW. This Warrant shall be governed by and construed and enforced in
accordance with, and all questions concerning the construction, validity, interpretation and
performance of this Warrant shall be governed by, the internal laws of the State of New York,
without giving effect to any choice of law or conflict of law provision or rule (whether of the
State of New York or any other jurisdictions) that would cause the application of the laws of any
jurisdictions other than the State of New York.

12. CONSTRUCTION; HEADINGS. This Warrant shall be deemed to be jointly drafted by the
Company and the Holder and shall not be construed against any Person as the drafter hereof. The
headings of this Warrant are for convenience of reference and shall not form part of, or affect the
interpretation of, this Warrant.

13. DISPUTE RESOLUTION. In the case of a dispute as to the determination of the Exercise
Price or fair market value or the arithmetic calculation of the Warrant Shares, the Company or the
Holder (as the case may be) shall submit the disputed determinations or arithmetic calculations (as
the case may be) via facsimile within two (2) Business Days of receipt of the applicable notice
giving rise to such dispute to the Company or the Holder (as the case may be). If the Holder and
the Company are unable to agree upon such determination or calculation of the Exercise Price or
fair market value or the number of Warrant Shares (as the case may be) within three (3) Business
Days of such disputed determination or arithmetic calculation being submitted to the Company or the
Holder (as the case may be), then the Company shall, within two (2) Business Days submit via
facsimile (a) the disputed determination of the Exercise Price or fair market value to an
independent, reputable investment bank selected by the Company and approved by the Holder or (b)
the disputed arithmetic calculation of the Warrant Shares to the Company’s independent, outside
accountant. The Company shall cause at its expense the investment bank or the accountant (as the
case may be) to perform the determinations or calculations (as the case may be) and notify the
Company and the Holder of the results no later than ten (10) Business Days from the time it
receives such disputed determinations or calculations (as the case may be). Such investment bank’s
or accountant’s determination or calculation (as the case may be) shall be binding upon all parties
absent demonstrable error.

11

 

14. REMEDIES, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies provided in
this Warrant shall be cumulative and in addition to all other remedies
available under this Warrant, at law or in equity (including a decree of specific performance
and/or other injunctive relief), and nothing herein shall limit the right of the Holder to pursue
actual damages for any failure by the Company to comply with the terms of this Warrant. The Company
acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the
Holder and that the remedy at law for any such breach may be inadequate. The Company therefore
agrees that, in the event of any such breach or threatened breach, the holder of this Warrant shall
be entitled, in addition to all other available remedies, to an injunction restraining any breach,
without the necessity of showing economic loss and without any bond or other security being
required. The issuance of shares and certificates for shares as contemplated hereby upon the
exercise of this Warrant shall be made without charge to the Holder or such shares for any issuance
tax or other costs in respect thereof, provided that the Company shall not be required to pay any
tax which may be payable in respect of any transfer involved in the issuance and delivery of any
certificate in a name other than the Holder or its agent on its behalf.

15. TRANSFER. This Warrant may be offered for sale, sold, transferred or assigned without
the consent of the Company in compliance with applicable securities laws.

16. CERTAIN DEFINITIONS. For purposes of this Warrant, the following terms shall have the
following meanings:

     (a) “Bloomberg” means Bloomberg Financial Markets.

     (b) “Business Day” means any day other than Saturday, Sunday or other day on which commercial
banks in The City of New York are authorized or required by law to remain closed.

     (c) “Common Stock” means (i) the Company’s shares of common stock, $0.0001 par value per
share, and (ii) any capital stock into which such common stock shall have been changed or any share
capital resulting from a reclassification of such common stock.

     (d) “Convertible Securities” means any stock or securities (other than Options) directly or
indirectly convertible into or exercisable or exchangeable for shares of Common Stock.

     (e) “Eligible Market” means The New York Stock Exchange, Inc., the Nasdaq Global Select
Market, the Nasdaq Global Market or the Principal Market.

12

 

     (f) “Expiration Date” means the date that is the fifth (5th) anniversary of the
Issuance Date or, if such date falls on a day other than a Business Day or on which trading does
not take place on the Principal Market (a “Holiday”), the next date that is not a Holiday.

     (g) “Fundamental Transaction” means that the Company shall, directly or indirectly, in one or
more related transactions, (i) consolidate or merge with or into (whether or not the Company is the
surviving corporation) another Person, or (ii) sell, assign, transfer, convey or otherwise dispose
of all or substantially all of the properties or assets of the Company to another Person, or (iii)
allow another Person to make a purchase, tender or exchange offer that is accepted by the holders
of more than the 50% of the outstanding shares of Common Stock (not including any shares of Common
Stock held by the Person or Persons making or party to, or
associated or affiliated with the Persons making or party to, such purchase, tender or
exchange offer), or (iv) consummate a stock purchase agreement or other business combination
(including, without limitation, a reorganization, recapitalization, spin-off or scheme of
arrangement) with another Person whereby such other Person acquires more than the 50% of the
outstanding shares of Common Stock (not including any shares of Common Stock held by the other
Person or other Persons making or party to, or associated or affiliated with the other Persons
making or party to, such stock purchase agreement or other business combination), or (v)
reorganize, recapitalize or reclassify its Common Stock, or (vi) any “person” or “group” (as these
terms are used for purposes of Sections 13(d) and 14(d) of the Exchange Act) is or shall become the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of
50% of the aggregate ordinary voting power represented by issued and outstanding Common Stock.

     (h) “Options” means any rights, warrants or options to subscribe for or purchase shares of
Common Stock or Convertible Securities.

     (i) “Parent Entity” of a Person means an entity that, directly or indirectly, controls the
applicable Person and whose common stock or equivalent equity security is quoted or listed on an
Eligible Market, or, if there is more than one such Person or Parent Entity, the Person or Parent
Entity with the largest public market capitalization as of the date of consummation of the
Fundamental Transaction.

     (j) “Person” means an individual, a limited liability company, a partnership, a joint venture,
a corporation, a trust, an unincorporated organization, any other entity and a government or any
department or agency thereof.

     (k) “Principal Market” means The OTC Bulletin Board.

     (l) “Successor Entity” means the Person (or, if so elected by the Holder, the Parent Entity)
formed by, resulting from or surviving any Fundamental Transaction or the Person (or, if so elected
by the Holder, the Parent Entity) with which such Fundamental Transaction shall have been entered
into.

     (m) “Trading Day” means any day on which the Common Stock is traded on the Principal Market,
or, if the Principal Market is not the principal trading market for the Common Stock, then on the
principal securities exchange or securities market on which the Common Stock is then traded;
provided that “Trading Day” shall not include any day on which the Common Stock is scheduled to
trade on such exchange or market for less than 4.5 hours or any day that the Common Stock is
suspended from trading during the final hour of trading on such exchange or market (or if such
exchange or market does not designate in advance the closing time of trading on such exchange or
market, then during the hour ending at 4:00:00 p.m., New York time).

13

 

     (n) “VWAP” means, for any security as of any date, the dollar volume-weighted average price
for such security on the Principal Market (or, if the Principal Market is not the principal trading
market for such security, then on the principal securities exchange or securities market on which
such security is then traded) during the period beginning at 9:30:01 a.m., New York time, and
ending at 4:00:00 p.m., New York time, as reported by Bloomberg through its
“Volume at Price” function or, if the foregoing does not apply, the dollar volume-weighted
average price of such security in the over-the-counter market on the electronic bulletin board for
such security during the period beginning at 9:30:01 a.m., New York time, and ending at 4:00:00
p.m., New York time, as reported by Bloomberg, or, if no dollar volume-weighted average price is
reported for such security by Bloomberg for such hours, the average of the highest closing bid
price and the lowest closing ask price of any of the market makers for such security as reported in
the “pink sheets” by Pink Sheets LLC (formerly the National Quotation Bureau, Inc.). If VWAP cannot
be calculated for such security on such date on any of the foregoing bases, the VWAP of such
security on such date shall be the fair market value as mutually determined by the Company and the
Holder. If the Company and the Holder are unable to agree upon the fair market value of such
security, then such dispute shall be resolved in accordance with the procedures in Section 13. All
such determinations shall be appropriately adjusted for any share dividend, share split or other
similar transaction during such period.

17. REGISTRATION RIGHTS. If at any time the Company shall determine to prepare and file
with the Securities and Exchange Commission (the “SEC”) a registration statement relating to an
offering for its own account or the account of others under the Securities Act of 1933, as amended
(the “1933 Act”), of any of its equity securities (other than on Form S-4 or Form S-8 (each as
promulgated under the 1933 Act) or their then equivalents relating to equity securities to be
issued solely in connection with any acquisition of any entity or business or equity securities
issuable in connection with the Company’s stock option or other employee benefit plans), then the
Company shall deliver to the Holder a written notice of such determination and, if within fifteen
(15) days after the date of the delivery of such notice, the Holder shall so request in writing,
the Company shall include in such registration statement all or any part of the Warrant Shares that
the Holder requests to be registered; provided, however, that the Company shall not be required to
register any Warrant Shares pursuant to this Section 17 that are eligible for resale pursuant to
Rule 144(k) promulgated by the SEC pursuant to the 1933 Act. Any Warrant Shares that are to be
included in a registered public offering pursuant to this Section 17 shall be offered and sold upon
such terms as the managing underwriters thereof determine. The managing underwriters may condition
the Holder’s participation in such a registered public offering upon the Holder’s execution of an
underwriting agreement containing customary terms and conditions which would customarily be
applicable to selling shareholders, provided that the Holder shall only be required to execute such
underwriting agreement if all other Persons including shares of Common Stock in such registration
statement are also required to execute, and have executed,

14

 

such underwriting agreement. If the
managing underwriters for a registered public offering determine in good faith that the number of
shares of Common Stock proposed to be sold in such offering would adversely affect the marketing of
the shares of Common Stock to be sold by the Company therein or by the Person or Persons on whose
behalf the registration statement is being initiated, then the number of shares of Common Stock to
be included in such offering shall be reduced until the number of such shares does not exceed the
number that the managing underwriters believe in good faith can be sold without any such adverse
effects; provided that any shares to be excluded shall be excluded in the order of priority
consistent with the terms of that certain Amended and Restated Registration Rights Agreement, dated
as of August 24, 2007, between the Company and the signatories thereto.

[signature page follows]

15

 

     IN WITNESS WHEREOF, the Company has caused this Warrant to Purchase Common Stock to be duly
executed as of the Issuance Date set out above.

	 	 	 	 	 
	 	180 CONNECT, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

16

 

EXHIBIT A

EXERCISE NOTICE

TO BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS

WARRANT TO PURCHASE COMMON STOCK

180 CONNECT, INC.

     The undersigned holder hereby exercises the right to purchase ____________of the shares
of Common Stock (“Warrant Shares”) of 180 Connect, Inc., a Delaware corporation (the “Company”),
evidenced by the Warrant to Purchase Common Stock issued to the undersigned holder (the “Warrant”).
Capitalized terms used herein and not otherwise defined shall have the respective meanings set
forth in the Warrant.

     1. Form of Exercise Price. The Holder intends that payment of the Exercise Price
shall be made as:

	 	 	 
	____________

	 	a “Cash Exercise” with respect to ____________Warrant Shares; and/or
	____________

	 	a “Cashless Exercise” with respect to ____________Warrant Shares.

     2. Payment of Exercise Price. In the event that the holder has elected a Cash Exercise
with respect to some or all of the Warrant Shares to be issued pursuant hereto, the holder shall
pay the Aggregate Exercise Price in the sum of $___to the Company in accordance
with the terms of the Warrant.

     3. Delivery of Warrant Shares. The Company shall deliver to holder, or its designee
or agent as specified below, ____________Warrant Shares in accordance with the terms of the Warrant.
Delivery shall be made to holder, or for its benefit, to the following address:

_____________________________

_____________________________

_____________________________

_____________________________

_____________________________

Date: ________________________ __, ______

	 	 	 	 	 
	 	 	 
	 	 
	Name of Registered Holder
	 
	 	 	 
	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:

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