Proxim Wireless Appoints New Chief Financial Officer

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Proxim Wireless

David Renauld

Vice President, Corporate Affairs

(413) 584-1425                                                                                                                                                        

ir@proxim.com

Proxim Wireless Appoints New Chief Financial Officer

Silicon Valley, July 7, 2010 – Proxim Wireless Corporation (OTCQX: PRXM) today announced that Chun (Cathy) Zhao has been appointed Proxim’s Chief Financial Officer and Treasurer effective July 6, 2010.  In that role, she will act as Proxim’s principal financial officer and principal accounting officer.

Ms. Zhao has been our Corporate Controller since August 2009 and, before that, acted as our SEC manager beginning in June 2008.  From September 2006 to May 2008, Ms. Zhao was a Finance and Accounting consultant at Accretive Solution, a national consulting firm.  In that role, she provided consulting service to Quantum, Mysql (acquired by Sun Microsystems), Transmeta, and Applied Microcircuits.  From April 2004 to September 2006, Ms. Zhao was a Corporate Controller at Hunter Technology.  Earlier in her career, she held various positions at Beiersdorf Corp. and Ferrstaal Inc. China operations.  Ms. Zhao has a B.S. in Accounting and an MBA from San Jose State University.  She has been a licensed Certified Public Accountant in the State of California since 2004.

Ms. Zhao signed a letter employment agreement with Proxim Wireless Corporation in connection with her becoming Proxim’s Chief Financial Officer and Treasurer.  She will also serve in similar positions for Proxim’s selected subsidiaries.

Ms. Zhao will initially report to Pankaj Manglik, Proxim’s Chief Executive Officer.  Her principal office location will be at Proxim’s headquarters in Milpitas, California, but she may be expected to travel from time to time.  Ms. Zhao’s annual base salary was increased to $175,000 subject to future adjustment.  Ms. Zhao is eligible to receive an annual bonus with a target annual bonus of $50,000.  Ms. Zhao is also entitled to participate in Proxim’s normal benefit programs.  Ms. Zhao has signed our standard employee agreement for confidential and proprietary information, intellectual property, non-competition, and non-solicitation.

The letter employment agreement contemplates Ms. Zhao being granted an option to purchase 2,000 shares of Proxim’s common stock.  The options were granted by Proxim with an exercise price of $11.00 per share, the fair market value of Proxim’s common stock on the date of grant.  The options were granted pursuant to Proxim’s standard incentive stock option agreement for executive officers.  The options vest over three years with 34% of the grant vesting on the first annual anniversary of the date of grant and thereafter as to 8 ¼% on the first day of each January, April, July, and October until the option has vested in full.  The option agreement provides that, upon a change of control, 50% of all unvested stock options will automatically vest.  The options have a five year term.

The letter agreement establishes an at-will employment relationship.  However, the letter agreement provides that if either (a) Proxim terminates Ms. Zhao’s employment without cause (as defined in the letter agreement) or (b) Ms. Zhao terminates her employment after Proxim significantly reduces her compensation (other than as part of a general salary reduction applicable to all employees of Proxim) or roles and responsibilities without cause and does not cure such reduction within fifteen (15) days of written notice from her, Proxim will pay Ms. Zhao an amount equal to three (3) months of her base salary upon her providing a release of claims to Proxim (in form and substance acceptable to Proxim).

Effective June 30, 2010, Thomas S. Twerdahl, who had been Proxim’s Interim Chief Financial Officer and Treasurer, became Proxim’s Vice President of Finance.

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