Document:

<PAGE>

                                                                    Exhibit 10.1

August 5, 2002

Mr. David D. Hood
2300 Windsor Road
Austin, Texas 78703

Re:      Employment With NetSolve, Incorporated

Dear David:

On behalf of the entire Board of Directors of NetSolve, Incorporated (the
"Company" or "NetSolve"), I am pleased to present our offer to you to become
NetSolve's new President and Chief Executive Officer, and a member of the
NetSolve Board of Directors.

We at NetSolve have all enjoyed getting to know you and we look forward to
welcoming you and Kim to NetSolve. We believe that you are well qualified to
help lead NetSolve to continued growth and success. We also believe, as I know
you do, that becoming President and CEO of NetSolve is an outstanding and timely
opportunity for you to capitalize upon your talents and experience, and for you
to continue to attain your personal goals.

We have given careful thought to compensation arrangements that would be
appropriate for your professional stature and to NetSolve precedents and
policies. Accordingly, below is a description of the terms of our offer of
employment to you.

1.        Position and Duties:  Your title will be President and Chief Executive
          Officer. In this capacity, you will have ultimate responsibility for
          all strategic, operational, and financial aspects of running the
          Company, as well as all duties customary to such position and such
          duties as may be assigned to you by the Board, and you will be held
          accountable for delivering the results expected by the Board and the
          Company's stockholders. In addition, the Board will cause you to be
          elected as a member of the Company's Board of Directors as soon as
          practical after your commencement of employment. The precise timing of
          your commencement of employment with the Company and your formal
          assumption of the role of President and Chief Executive Officer will
          be based on a transition plan developed jointly by you and the
          Company's current President and Chief Executive Officer, Mr. Craig
          Tysdal. Such transition plan will include an appropriate timeframe for
          your succession to your offices with the Company and

<PAGE>

          Mr. Tysdal's resignation, as well as an appropriate communication
          strategy (both internally and externally) for this transition.

2.        Base Salary:  Your initial base salary will be $22,916.67 per month
          ($275,000.00 on an annualized basis), less standard payroll taxes and
          withholding. Payment of your base salary will be in accordance with
          the Company's normal payroll practice.

3.        Signing Bonus:  You will receive a one-time signing bonus of
          $50,000.00 to be paid within 30 days of the date of your commencement
          of employment with NetSolve.

4.        Annual Incentive Target Award: You will be eligible for an annual
          incentive target award for each fiscal year based on certain mutually
          agreed upon performance standards and criteria which will be
          established as soon as reasonably practical following your
          commencement of employment with NetSolve. The award level amount will
          be structured so that at plan the award will be $200,000.00. This
          award will be payable to you after the completion of the Company's
          fiscal year in accordance with NetSolve's annual incentive program.
          You must be employed by the Company on the date the award is payable
          to be eligible to receive such award. For fiscal year 2003, the award
          will be prorated based on your start date, and the amount paid will be
          reduced by the signing bonus paid according to paragraph 3 above.

5.        Stock Options: Upon commencement of your employment with the Company,
          you will be granted an option to purchase 350,000 shares of NetSolve
          common stock under and subject to the provisions of the NetSolve
          Long-Term Incentive Compensation Plan ("LTICP"). The exercise price
          for such option will be the closing price of the Company's common
          stock on the first day of your employment. The precise terms of this
          grant will be set forth in an Option Agreement in the standard form
          under the LTICP.

6.        Change of Control: The Company will agree to enter into an Employment
          and Change of Control Agreement ("Agreement") with you to provide
          certain compensation and benefits in the event your employment is
          terminated under certain circumstances following a change of control
          of NetSolve. This Agreement is currently being developed and will be
          provided to you upon final approval by the Board of Directors.

7.        Compensation Review:  Your base salary, annual incentive target award
          and stock option position will be reviewed annually by the Board,
          prior to the completion of NetSolve's fiscal year.

8.        Other Benefits:  As a NetSolve employee, you will be eligible to
          participate in NetSolve's various benefit plans, such as medical,
          disability, life insurance, and

<PAGE>

          401(k) plans, which are now in effect, or as they may be changed or
          amended in the future.

9.        At-Will Employment:  Your employment with NetSolve will be "at-will,"
          meaning that either you or the Company can terminate your employment
          at any time and for any reason, or no reason at all.

10.       Severance:  Notwithstanding Paragraph 9, if during the first 12
          months of your employment with NetSolve, your employment is terminated
          by NetSolve other than for "cause," you shall be entitled to a
          severance payment equal to 12 times your monthly base salary then in
          effect. For the purposes of this Paragraph 10, termination of
          employment shall be for "cause" if, in the reasonable opinion of a
          majority of NetSolve's Directors: you breach or neglect the duties
          which you are required to perform, or violate your fiduciary duties to
          NetSolve or its stockholders; commit any material act of dishonesty,
          fraud, misrepresentation, or other act of moral turpitude; are guilty
          of gross carelessness or misconduct; fail to obey the lawful direction
          of NetSolve's Board of Directors; or act in any way that results in
          direct, substantial and adverse effect on NetSolve's reputation.
          Notwithstanding the above, if there is a change of control of NetSolve
          that results in termination of your employment other than for "cause"
          within the first 12 months of your employment with NetSolve, the
          definition of "cause" as set forth in the Agreement (referenced in
          Paragraph 6) will govern and the definition of "cause" provided in
          this Paragraph 10 will not apply.

Until the transition plan, discussed above, for your succession to your position
with NetSolve has been finalized and implemented, you agree to keep this offer
of employment, and all terms relating hereto, strictly confidential and to make
any disclosures only in accordance with such transition plan.

In accordance with U. S. law, this offer of employment, including all terms
relating thereto, is conditioned upon satisfactory proof of U.S. citizenship or
other eligibility for employment, as required by the Immigration Reform and
Control Act of 1986. This offer is also conditioned upon your execution of a
NetSolve Proprietary Information and Inventions Agreement.

David, we all look forward to your prompt acceptance of our offer, and to your
joining NetSolve full-time as soon as possible in accordance with the transition
plan. To signify your acceptance, please sign and return this letter to me no
later than 5:00 p.m. (Pacific Time) on August 9, 2002, after which time this
offer will expire. By signing below, you certify that you are able to perform
the duties and responsibilities of your position.

May I again express that we look forward to welcoming you and Kim to NetSolve
and working with you.

<PAGE>

                                                     Sincerely,

                                                     /s/ J. Michael Gullard
                                                     J. Michael Gullard
                                                     Chairman of the Board
                                                     of Directors

AGREED AND ACCEPTED:

/s/ David D. Hood
---------------------------
David D. Hood

8/5/02
---------------
Date

Enclosure:  Second signature copy of this letterPrepared by R.R. Donnelley Financial -- Amendment of Agreements dated April 12, 2002

 EXHIBIT 10.49 
  
 As of April 12, 2002 
  
 TO:    Purchasers of Units (each a “Lender” and collectively
the “Lenders”) consisting of $4,535,000 principal amount of 15% Senior Secured Notes of World Wireless Communications, Inc. (the “Company”). 
  
 Re:    Amendment of Agreements 
  
 Gentlemen: 
  
 Reference is made to the Loan Agreement between the Lenders and the Company dated as
of May 17, 2001, as amended on August 7, 2001, effective as of May 17, 2001 (the “Agreement”), including each note issued pursuant thereto (individually the “Note” and collectively the “Notes”). 
  
 For good and valuable consideration, the adequacy and sufficiency of which is hereby acknowledged by the Lenders, and as an additional
inducement for the Company to continue its offering of units of its preferred stock and warrants pursuant to the Confidential Private Placement Memorandum dated January 8, 2002, the Company and each Lender agree as follows: 
  
 1.    Each Note shall be amended to change the amount now appearing in Section 3(ii) thereof to
“$4,535,000” with the same force and effect as if originally set forth therein, effective as of April 12, 2002. 
  
 2.    Section 1.1(a) of the Loan Agreement shall be amended to read as follows, effective as of April 12, 2002: 
  
 “(a)    Simultaneously with the execution and the delivery of this Agreement, Lancer Offshore, Inc. agrees to lend to Borrower the
aggregate sum of $2,250,000, of which (i) the sum of $1,125,000 shall be paid to Borrower upon the execution and the delivery of this Agreement and (ii) the sum of $1,125,000 shall be paid to Borrower on July 15, 2001, provided that Borrower has
raised the sum of $2,000,000 in equity from persons other than Michael Lauer and his affiliates, including, without limitation, Lancer Offshore Inc., Lancer Partners, L.P., and The Orbiter Fund Ltd.(such loan, together with any other amounts loaned
pursuant to this Agreement by any Lender from time to time, including that specified in Section 1.1 (b) hereof, with the consent of the parties hereto, up to a total sum of $5,000,000, shall be referred to collectively as the “Loan”). The
Loan shall be used solely by Borrower in the operation of its business as determined by the President of Borrower, subject to supervision thereof by Board of Directors of Borrower. As of April 12, 2002, Lancer Offshore, Inc. loaned the Borrower the
principal amount of $3,635,000. The Loan shall be repaid on June 30, 2002 unless it is mandatorily converted into shares of Borrower’s Common Stock before that date as provided in Section 1.5 hereof.” 

 3.    Section 1.5 of the Loan Agreement shall be amended to read as follows,
effective as of April 12, 2002: 
  
 “(a)    The Loan shall be mandatorily
converted into shares of the Common Stock of Borrower at the rate of one share per each $0.05 principal amount of debt, including interest (subject to adjustment for stock dividends, stock splits and reverse stock splits, if any) immediately upon
(i) the approval of such conversion by Borrower’s shareholders at a meeting of shareholders held for such purpose (among other purposes) and (ii) Borrower’s receipt of $4,535,000 in equity from persons other than Michael Lauer and his
affiliates, including, without limitation, Lancer Offshore, Inc., Lancer Partners L.P. and The Orbiter Fund Ltd., on or before June 30, 2002.” 
  
 In consideration of the foregoing, each Lender unconditionally acknowledges that the Company is not in default under the Loan Agreement, any of the Notes or any other agreement which is a part of the
Loan Agreement. 
  
 Except as amended as set forth herein, the Agreement, including, without limitation, the Amended
and Restated Pledge/Security Agreement, shall continue in full force and effect in accordance with its terms. 
  
 If
this letter accurately sets forth our understanding, please sign your name below and return your signed original to us immediately. 
  
 Very truly yours, 
  
 
	 WORLD WIRELESS COMMUNICATIONS, INC.
 
	 
	                 /s/    DAVID
D. SINGER                                

	             David D. Singer, President
 

 
  
  
 
	 LANCER OFFSHORE, INC.
 	 	  	 	 LANCER PARTNER L.P.
 
	 
	                 /s/    MICHAEL
LAUER                                

	 	  	 	                 /s/    MICHAEL
LAUER                                
 
	             Michael Lauer, Manager
 	 	  	 	             Michael Lauer, Manager

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00043-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00043-of-00352.parquet"}]]