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<SEC-DOCUMENT>0001104659-07-078530.txt : 20071031
<SEC-HEADER>0001104659-07-078530.hdr.sgml : 20071030
<ACCEPTANCE-DATETIME>20071031172257
ACCESSION NUMBER:		0001104659-07-078530
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20071025
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20071031
DATE AS OF CHANGE:		20071031

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UTSTARCOM INC
		CENTRAL INDEX KEY:			0001030471
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMUNICATIONS EQUIPMENT, NEC [3669]
		IRS NUMBER:				521782500
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29661
		FILM NUMBER:		071203807

	BUSINESS ADDRESS:	
		STREET 1:		1275 HARBOR BAY PARKWAY
		STREET 2:		STE 100
		CITY:			ALAMEDA
		STATE:			CA
		ZIP:			94502
		BUSINESS PHONE:		5108648800

	MAIL ADDRESS:	
		STREET 1:		1275 HARBOR BAY PARKWAY
		STREET 2:		STE 100
		CITY:			ALAMEDA
		STATE:			CA
		ZIP:			94502
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a07-28036_18k.htm
<DESCRIPTION>8-K
<TEXT>
<html>

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<body lang="EN-US">

<div style="font-family:Times New Roman;">

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<div style="border:none;border-top:double windowtext 6.0pt;padding:0in 0in 0in 0in;">

<p style="border:none;margin:0in 0in .0001pt;padding:0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">UNITED STATES</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">SECURITIES AND
EXCHANGE COMMISSION</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington, D.C. 20549</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="3" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">FORM 8-K</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="3" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">CURRENT REPORT</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="3" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="3" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Date of Report (Date of earliest event reported): </font></b><font size="2" style="font-size:10.0pt;">October 25,
2007</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="3" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">UTSTARCOM, INC.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant as specified in its charter)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware</font></b></p>
  </td>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">000-29661</font></b></p>
  </td>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">52-1782500</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other
  jurisdiction<br>
  of incorporation)</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.32%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File Number)</font></p>
  </td>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.34%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer
  Identification No.)</font></p>
  </td>
 </tr>
</table>

</div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1275 Harbor Bay Parkway</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Alameda, California 94502</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices)&#160;&#160;&#160; (Zip code)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(510) 864-8800</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Registrant&#146;s telephone number, including area code)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">N/A</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Former name or former address, if changed since last report.)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160; Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160; Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160;
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&#160;
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))</font></p>

<div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">

<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item&nbsp;5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers.</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in 12.0pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Approval of Amended Offer Letter and Equity Grant for Peter Blackmore.</font></i></p>

<p style="margin:0in 0in 12.0pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As previously disclosed, on
May 27, 2007, UTStarcom, Inc. (the &#147;Company&#148;) entered into an offer letter with
Peter Blackmore (the &#147;Offer Letter&#148;), pursuant to which Mr. Blackmore was
offered the position of President and Chief Operating Officer of the Company.&nbsp;
The Offer Letter provides that Mr. Blackmore shall, upon commencement of
employment with the Company, receive (i) an annual salary of $800,000, which
shall never be reduced below the current level, (ii) a signing bonus of
$100,000, (iii) an annual bonus equal to 100% of Mr. Blackmore&#146;s annual salary,
based upon the Company&#146;s performance and achievement of mutually agreed upon
performance objectives (an annual bonus for the 2007 calendar year of 50% of
Mr. Blackmore&#146;s annual salary is guaranteed), and (iv) upon approval of the
Board of Directors of the Company (the &#147;Board&#148;), a restricted cash award equal
to $5,200,000, payable over a four (4) year period as follows: (a) $4,000,000
will vest as follows: $1,000,000 will vest and become payable on each annual
anniversary of Mr. Blackmore&#146;s employment start date, subject to his continuing
to provide services to the Company through each applicable vesting date, and
(b) an additional $300,000 will vest and become payable on the first
anniversary of the date of grant, and $25,000 will vest each month thereafter,
subject to his continuing to provide services to the Company through each
applicable vesting date.&nbsp; In the event of Mr. Blackmore&#146;s death or
disability all amounts under (iv) above will accelerate in full.</font></p>

<p style="margin:0in 0in 12.0pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On
October 25, 2007, the Compensation Committee of the Board of Directors of the
Company approved an equity grant to Mr. Blackmore, effective October 31, 2007,
and an amendment to his offer letter to provide that Mr. Blackmore&#146;s restricted
cash award would be converted to (i) shares of restricted stock and restricted
stock units (RSUs) (subject to the limitations of the Company&#146;s 2006 Equity
Incentive Plan) with an aggregate value of $4 million on the date of grant
which will vest as follows: one quarter (25%) of the shares&#160; will vest on each annual anniversary of his
start date, subject to his continuing to provide services to the Company
through each applicable vesting date, and (ii) options to purchase shares of common
stock of the Company&#160; with a value of
$1.2 million on the date of grant which will vest as follows: one quarter (25%)
of the options will vest on the first anniversary of the date of grant, and the
remaining options will vest in equal installments of 1/36</font><font size="1" style="font-size:7.0pt;position:relative;top:-2.0pt;">th</font><font size="2" style="font-size:10.0pt;position:relative;top:-2.0pt;">&#160;</font><font size="2" style="font-size:10.0pt;">each month thereafter,
subject to his continuing to provide services to the Company through each
applicable vesting date.&#160; In the event of
Mr. Blackmore&#146;s death or disability, the vesting of his restricted stock, RSUs
and stock options will accelerate in full.&#160;
A copy of the amended Offer Letter is attached hereto as Exhibit 99.1.</font></p>

<p style="margin:0in 0in 12.0pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; On October 31, 2007, the effective date of Mr.
Blackmore&#146;s equity grant described above, the closing price of the Company&#146;s
common stock as quoted on the Nasdaq Global Select Market was $3.20 and
therefore the number of shares of restricted stock, RSUs and stock options
granted to Mr. Blackmore as of October 31, 2007 was determined to be 900,000 shares
of restricted stock, 350,000 RSUs and 750,000 options to purchase common stock
with an exercise price of $3.20 per share.</font></p>

<p style="margin:0in 0in 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 9.01 Financial Statements and
Exhibits.</font></b></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Peter Blackmore
Offer Letter as amended on October 25, 2007.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="91%" style="border-collapse:collapse;width:91.98%;">
 <tr>
  <td width="55%" valign="top" style="padding:0in .7pt 0in .7pt;width:55.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="44%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:44.2%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">UTSTARCO&#173;M, INC.</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="55%" valign="top" style="padding:0in .7pt 0in .7pt;width:55.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="44%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:44.2%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="55%" valign="top" style="padding:0in .7pt 0in .7pt;width:55.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:
  October 31, 2007</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.1%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="37%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:37.1%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ </font><font size="2" style="font-size:10.0pt;">Francis P.
  Barton</font></p>
  </td>
 </tr>
 <tr>
  <td width="55%" valign="top" style="padding:0in .7pt 0in .7pt;width:55.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.1%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="37%" valign="top" style="padding:0in .7pt 0in .7pt;width:37.1%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Francis
  P. Barton</font></p>
  </td>
 </tr>
 <tr>
  <td width="55%" valign="top" style="padding:0in .7pt 0in .7pt;width:55.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0in .7pt 0in .7pt;width:7.1%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="37%" valign="top" style="padding:0in .7pt 0in .7pt;width:37.1%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executive
  Vice President and Chief<br>
  Financial Officer</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in 24.0pt 4.0in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXHIBITS</font></b></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Peter Blackmore
Offer Letter as amended October 25, 2007.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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<FILENAME>a07-28036_1ex99d1.htm
<DESCRIPTION>EX-99.1
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<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="right" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 99.1</font></b></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May
18, 2007 as amended October 25, 2007</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(<i>Delivery by email and Overnight Courier)</i></font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Peter
Blackmore</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[address]</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear
Peter:</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I
am pleased to confirm UTStarcom&#146;s job offer to you for the position of<b> President and Chief Operating Officer,</b>
with a start date to be agreed upon.&#160; The
terms and conditions of this offer of employment are contingent upon the
acceptance of this letter by May 25, 2007 and commencement of your employment
no later than July 2, 2007.</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
position reports directly to Hong Lu, the Company&#146;s current President and Chief
Executive Officer, and is located at the Company&#146;s headquarters in Alameda,
California.&#160; The following business
units/functions will report to you initially: International Sales, Marketing
&amp; Services, Global Supply Chain, Global IT, Quality and the Network
Solutions BU.&#160; The remaining business
units, namely Terminals BU and the PCD Division, will transfer to you at a time
mutually agreed upon between yourself and Mr. Lu.&#160; Within approximately 12 months from your date
of employment and in consultation with Mr. Lu, the Board of Directors in its
sole discretion may appoint you as the Chief Executive Officer.</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
key elements of this employment offer are as follows:</font></p>

<p align="left" style="font-size:10.0pt;letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Salary:&nbsp; </font></b><font face="Times New Roman">Your annual salary is<b> $800,000</b>.&nbsp; Paydays are on the 15<sup>th</sup>
and the last day of each month.&nbsp; Direct deposit is available.&#160; You will receive an annual performance
review; however, your salary will never be reduced below its current level.</font></p>

<p align="left" style="font-size:10.0pt;letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Signing Bonus:</font></b><font face="Times New Roman"> You will be paid a signing bonus amount
of <b>$100,000</b>, payable upon the
commencement of your employment with the Company.</font></p>

<p align="left" style="font-size:10.0pt;letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Cash Payment Award:</font></b><font face="Times New Roman">&nbsp;At
this time, as you know, the Company is not in a position to make any grants of
equity awards.&#160; As a result, after you
commence employment and upon approval of the Board of Directors, the Company
will grant you a restricted cash award equal to $5.2 million, payable over a
four (4) year period as follows:&#160;
(i)&#160; $4 million will vest as follows:&#160; One quarter (25%) of the cash payment will
vest and become payable on each annual anniversary of your start date, subject
to your continuing to provide services to the Company through each applicable
vesting date and (ii) $1.2 million will vest as follows:&#160; One quarter (25%) of the cash payment will
vest and become payable on the first anniversary of the date of grant, and the
remaining cash balance will vest in equal installments of 1/36</font><font size="1" face="Times New Roman" style="font-size:7.0pt;letter-spacing:0pt;position:relative;top:-2.0pt;">th</font><font face="Times New Roman">&#160;each month thereafter, subject to your
continuing to provide services to the Company through each applicable vesting
date.&#160; In the event of your death or
disability both amounts under clause (i) and (ii) above will accelerate in
full.</font></p>

<p align="left" style="font-size:10.0pt;letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Once the Company is in a
position to make grants of equity awards, the Board of Directors or its
designated committee may convert your restricted cash award to (i) shares of
restricted stock and&#160; restricted stock
units (subject to the limitations in the Company&#146;s 2006 Equity Incentive Plan)
with an aggregate value of $4 million on the date of grant which will vest as
follows: one quarter (25%) of the shares&#160;
will vest on each annual anniversary of your start date, subject to your
continuing to provide services to the Company through each applicable vesting
date, and (ii) options to purchase common stock of the Company&#160; with a value of $1.2 million on the date of
grant which will vest as follows: one quarter (25%) of the stock options will
vest on the first anniversary of the date of grant, and the remaining stock
options will vest in equal installments of 1/36</font><font size="1" face="Times New Roman" style="font-size:7.0pt;letter-spacing:0pt;position:relative;top:-2.0pt;">th </font><font face="Times New Roman">each month thereafter, subject to your
continuing to provide services to the Company through each applicable vesting
date.&#160; In the event of your death or
disability both amounts under clause (i) and (ii) above will accelerate in
full.</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

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<div>

<p align="center" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Annual Performance Bonus:</font></b><font face="Times New Roman"> On an
annual basis, you will be eligible for an annual performance target bonus (the &#147;Annual
Bonus&#148;) of 100% of your base salary based upon (i) the Company&#146;s performance
and (ii) achievement of mutually agreed upon performance objectives determined
by you and the Chief Executive Officer.&#160;&#160;
For the 2007 fiscal year, 50% of the Annual Bonus amount will be
guaranteed to you, and will be payable at the time bonuses for the 2007 fiscal
year are paid to other executives (but no later than March 15, 2008).</font></p>

<p align="left" style="font-size:10.0pt;letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Change in Control/Involuntary Termination Agreement:&nbsp; </font></b><font face="Times New Roman">You will be
offered an agreement between yourself and the Company effective on the
commencement of your employment (the &#147;COC Agreement&#148;), in which the terms and
conditions, in part, provide as follows:</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In the event you remain employed
with the Company through the twelve (12) month-anniversary of the effective
date of the COC Agreement (or a later date mutually agreed upon in writing by
the Board of Directors and you, but no later than February 13, 2009) and you
are not offered the position of Chief Executive Officer of the Company on or
before such date, you will receive: (i) twelve (12) months of your base salary,
(ii) payment of the full Annual Bonus for the year, and (iii) full and complete
acceleration of any outstanding restricted cash awards and outstanding equity
awards, if any, then unvested at the time of the termination.</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In the event of an Involuntary
Termination (as such term is defined in the COC Agreement) or a termination for
Good Reason (as such term is defined in the COC Agreement), you will receive
(i) twelve (12) months of your base salary, (ii) payment of the full Annual
Bonus you would have otherwise been eligible to receive in the year of
termination, (iii) full and complete acceleration of any outstanding restricted
cash awards and outstanding equity awards, if any, then unvested at the time of
the termination and (iv) twelve (12) months from the date of termination to
exercise your equity awards; or</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In the event of a&#160; termination following a Change of Control (as
such term is defined in the COC Agreement), you will receive (i) twenty four
(24) months of your base salary, (ii) payment of two times the full Annual
Bonus you would have otherwise been eligible to receive in the year of
termination (in addition, a pro rated amount of the full Annual Bonus will be
paid for the year of termination), and (iii) full and complete acceleration of
any outstanding restricted cash awards and outstanding equity awards, if any,
then unvested at the time of the termination and (iv) twelve (12) months from
the date of termination to exercise your equity awards.</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Such
payments and benefits will be payable at such times and in accordance with the
terms and conditions of the COC Agreement.</font></p>

<p align="left" style="font-size:10.0pt;letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Paid Time Off (PTO):&#160; </font></b><font face="Times New Roman">You will be
provided at the inception of your employment with an accrual rate for PTO
equivalent to 20 days per year.&#160; This
will continue during your employment with the Company pursuant to the Company&#146;s
policies relating to PTO accrual and use.</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Please
be prepared to provide proof of eligibility for employment in the United States
on your first day of work, in compliance with the Immigration Reform and
Control Act (Form I-9).&nbsp; Additionally, t<strong><b><font face="Times New Roman" style="font-weight:normal;">his offer of employment is contingent upon
completion of both personal reference verifications, and a criminal background
check.&nbsp; UTStarcom reserves the right to withdraw it</font></b></strong>s<b>  </b>offer of employment to you if the results
of the reference verifications and/or the criminal background check are not
satisfactory, in the sole judgment of UTStarcom.</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Your
employment with the Company will be &#147;at will&#148; and subject to the terms
herein.&#160; This means that your employment
with the Company may be terminated by either you or the Company at any time,
for any reason or for no reason, with or without notice.&#160; This offer supersedes all prior offers, both
written and verbal.</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As an employee of the
Company, you will be expected to abide by Company rules and regulations. You
will be expected to sign and comply with an agreement, which requires, among
other provisions, the non-disclosure of proprietary information.</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

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<div>

<p align="center" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Under
separate cover I will forward to you the following materials for your review: a
proposed Change in Control/Involuntary Termination Agreement (as described
above); a proposed Indemnification Agreement; a Director and Officers&#146;
Questionnaire; and a Power of Attorney regarding outside counsel&#146;s filing of
SEC Forms 3/4/5 on your behalf.</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
letter shall be governed by the laws of the State of California.</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We
are pleased that you have chosen to become part of the UTStarcom team, and wish
you the very best as you begin your employment with UTStarcom. If you have any
questions about UTStarcom or its benefit programs, please feel free to contact
Mark Green at 510-749-1565 (or mark.green@utstar.com).</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Please
sign one copy of this letter to indicate your intent to accept the terms and
conditions of this offer letter, and please return the signed copy to the Human
Resource Department confidential fax at (510) 814-XXXX.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="100%" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sincerely,</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Edward Hudson</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Edward Hudson</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Director Human Resources</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in 11.0pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="letter-spacing:-.25pt;line-height:normal;margin:0in 0in .0001pt .25in;text-align:left;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I accept the terms and conditions of this offer
letter, and I understand that it replaces those of any earlier offers of
employment (if any) including without limitation the prior version of this
offer letter dated May 18, 2007.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.96%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0in .7pt 0in .7pt;width:22.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="65%" valign="top" style="padding:0in .7pt 0in .7pt;width:65.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.96%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Signed: </font></p>
  </td>
  <td width="22%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:22.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Peter Blackmore</font></p>
  </td>
  <td width="65%" valign="top" style="padding:0in .7pt 0in .7pt;width:65.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.96%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:22.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="65%" valign="top" style="padding:0in .7pt 0in .7pt;width:65.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.96%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Print name:</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0in .7pt 0in .7pt;width:22.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Peter Blackmore</font></p>
  </td>
  <td width="65%" valign="top" style="padding:0in .7pt 0in .7pt;width:65.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:</font></p>
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  <td width="22%" valign="top" style="padding:0in .7pt 0in .7pt;width:22.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">October 31, 2007</font></p>
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  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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 </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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