Service Agreement Between SeaPoint Ventures, LLC and Airspan Communications Corporation (March 1999)
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Summary
SeaPoint Ventures, LLC and Airspan Communications Corporation entered into an agreement where Thomas S. Huseby of SeaPoint will serve as Chairman of Airspan, and SeaPoint will provide administrative support for Airspan’s U.S. ownership. Airspan will pay SeaPoint $22,500 per month for these services, plus reimbursement for travel expenses. The agreement remains in effect until Airspan’s Board decides to terminate or modify the arrangement. Payments are due monthly in arrears. The agreement is binding upon signature by both parties.
EX-10.17 6 0006.txt AGREEMENT WITH SEA POINT VENTURES EXHIBIT 10.17 1 March 1999 SeaPoint Ventures 777 108th Avenue NE Suite 1895 Bellevue, WA 98004 Dear Sirs: This letter sets forth the mutual understanding between SeaPoint Ventures, LLC ("SeaPoint") and Airspan Communications Corporation ("Airspan") with respect to the services SeaPoint will provide Airspan. Thomas S. Huseby, managing partner and owner of SeaPoint, will perform as Chairman of Airspan until such time as the Board of Directors of Airspan elect to terminate or modify this position. Additionally, SeaPoint will provide administrative services to Airspan for support of its US ownership as needed until such time that they are no longer needed. During the term of this agreement, Airspan agrees to pay SeaPoint $22,500 per month for services beginning March 1, 1999 as detailed below. US$ ------ Thomas S. Huseby Chairman 12,500 Susan Sigl, Donna Hayataka & Stacy Burk Administrative support 10,000 ------ 22,500 ------ Airspan will also reimburse SeaPoint for travel expenses incurred by SeaPoint in performing these services. Payments by Airspan to SeaPoint will be due in arrears on the last day of the month. If the foregoing is acceptable to you, would you please so acknowledge in the space provided below and return your signed acknowledgement to us, whereupon this agreement will become a binding agreement between us. SEAPOINT VENTURES, LLC By: /s/ Thomas Huseby -------------------------------- Thomas S. Huseby Its Manager The foregoing terms are hereby accepted and agreed this 10th day of March 1999 AIRSPAN COMMUNICATIONS CORPORATION By: /s/ Eric Stonestrom -------------------------------- Eric Stonestrom Its Chief Executive Officer BOARD OF DIRECTORS OF AIRSPAN COMMUNICATIONS CORPORATION /s/ Jon Bayless /s/ Ovid Santoro - ------------------------------ ------------------------------- Jon Bayless Ovid Santoro /s/ Bandel Carano /s/ Thomas Huseby - ------------------------------ ------------------------------- Bandel Carano Thomas S. Huseby /s/ Barry Cash /s/ David Twyver - ------------------------------ ------------------------------- Barry Cash David Twyver /s/ Eric Stonestrom ------------------------------- Eric Stonestrom -2-
