Boingo Wireless, Inc. 2010 Management Incentive Plan ($ Mil)

Revenue

60

%

Adjusted EBITDA

15

%

Free cash flow

20

%

Net Income

5

%

Targets ($ mil)

Plan

Cap

Floor

Revenue

$

79

.3

120.0

%

90.0

%

Adjusted EBITDA

$

19

.3

120.0

%

70.0

%

Free cash flow

$

9

.7

120.0

%

70.0

%

Net Income

$

8

.1

120.0

%

70.0

%

Payout % of Salary at Targets

Plan

100

%

Cap

170

%

Floor

30

%

Payouts % of Salary by Position

CEO

60.0

%

CFO

50.0

%

CTO & SVP BD & SVP Fin.

35.0

%

II.  Strategic Initiative Overlay

CEO, CFO, CTO, SVP BD & SVP Fin.

20% of Salary

Criteria: To obtain full payout, 2 of 3 must be achieved

Strategic Initiatives

1.     Device distribution expansion:
Major wholesale or retail distribution expansion agreement is signed

2.     Expansion of managed and operated footprint:
Incremental enplanements of at least 30M or significant foot traffic in a new business area such as fast food, mall, arena, etc.

3.     Establish service provider model:
Sign an agreement whereby Boingo generates positive economics as the Wi-Fi service provider for a carrier or as the service provider in a free location