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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
      STATES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
      AND EXCHANGE COMMISSION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>WASHINGTON,
      DC 20549</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>FORM
      8-K</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
      REPORT PURSUANT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>TO
      SECTION 13 OR 15(D) OF THE</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
      EXCHANGE ACT OF 1934</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div align="center">
      <div>
        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

            <tr bgcolor="white">
              <td width="25%" style="border-bottom: #ffffff solid;">&#160;</td>
              <td colspan="2" width="50%" style="border-bottom: #ffffff solid;"><font size="2">Date
                of report (Date of earliest event reported)</font></td>
              <td width="25%" style="border-bottom: black thin solid;"><font size="2">February
                3, 2006</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></td>
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      <div align="left">
        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

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              <td width="20%" style="border-bottom: #ffffff solid;">&#160;</td>
              <td width="60%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">GigaBeam
                  Corporation</font></div>
              </td>
              <td width="20%" style="border-bottom: #ffffff solid;">&#160;</td>
            </tr>
            <tr bgcolor="white">
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(Exact
                  Name of Registrant as Specified in Its
                  Charter)</font></div>
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        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

            <tr bgcolor="white">
              <td width="20%" style="border-bottom: #ffffff solid;">&#160;</td>
              <td width="60%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">Delaware
</font></div>
              </td>
              <td width="20%" style="border-bottom: #ffffff solid;">&#160;</td>
            </tr>
            <tr bgcolor="white">
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(State
                  or Other Jurisdiction<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">of
                  Incorporation)</font></font></div>
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              <td width="20%">&#160;</td>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
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          <tr bgcolor="white">
            <td width="5%" style="border-bottom: #ffffff solid;">&#160;</td>
            <td width="40%" style="border-bottom: black thin solid;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">0-50985</font></div>
            </td>
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            <td width="40%" style="border-bottom: black thin solid;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">20-0607757</font></div>
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                File Number)</font></div>
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            <td width="10%">&#160;</td>
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                Employer Identification
                No.)</font></div>
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            <td width="5%">&#160;</td>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div align="left">
        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

            <tr bgcolor="white">
              <td width="5%" style="border-bottom: #ffffff solid;">&#160;</td>
              <td width="40%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">470
                  Springpark Place, Suite 900, Herndon,
                  VA</font></div>
              </td>
              <td width="10%" style="border-bottom: #ffffff solid;">&#160;</td>
              <td width="40%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">20170</font></div>
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                  of Principal Executive
                  Offices)</font></div>
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              <td width="10%">&#160;</td>
              <td width="40%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(Zip
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              <td width="5%">&#160;</td>
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      <div align="left">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <div align="left">
        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

            <tr bgcolor="white">
              <td width="20%" style="border-bottom: #ffffff solid;">&#160;</td>
              <td width="60%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(571)
                  283-6200</font></div>
              </td>
              <td width="20%" style="border-bottom: #ffffff solid;">&#160;</td>
            </tr>
            <tr bgcolor="white">
              <td width="20%">&#160;</td>
              <td width="60%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant&#8217;s
                  Telephone Number, Including Area Code)</font></font></div>
              </td>
              <td width="20%">&#160;</td>
            </tr>

        </table>
      </div>
      <div align="left">&#160;</div>
      <div align="left">
        <div align="left">
          <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

              <tr bgcolor="white">
                <td width="20%" style="border-bottom: #ffffff solid;">&#160;</td>
                <td width="60%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                </td>
                <td width="20%" style="border-bottom: #ffffff solid;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td width="20%">&#160;</td>
                <td width="60%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(Former
                    Name or Former Address, if Changed Since
                    Last Report)</font></div>
                </td>
                <td width="20%">&#160;</td>
              </tr>

          </table>
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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
      the
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      satisfy the filing obligation of the registrant under any of the following
      provisions (</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>see
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
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      240.14a-12)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
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        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
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        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><strong><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
        1.01</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Entry
        into Material Definitive Agreement</font></strong></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        February 3, 2006, the Compensation Committee of the Board of Directors of
        GigaBeam Corporation (the &#8220;Company&#8221;) approved a nominal increase not to exceed
        five percent (5%) in the annual base compensation to certain of its executive
        officers resulting in annual base compensation, effective as of January 1,
        2006,
        as follows: (1) $210,000 for Thomas P.Wetmore, Senior Vice President, Sales
        and
        Marketing; (2) $204,750 for John Krzywicki, Vice President Marketing, Strategy
        and Business Development; (3) $199,500 for D. Duane Butler, Vice President
        Link
        Operations; (4) $194,250 for Don E. Peck, Vice President Engineering and
        Manufacturing; (5) $183,750 for Leighton Stephenson, Chief Financial Officer
        and
        Vice President of Finance and Administration; and (6) $178,500 for Caroline
        Kahl, Vice President, Corporate Counsel and Secretary.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -18pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        addition, the Compensation Committee authorized the payment of a one-time
        discretionary cash bonus performance award for calendar year 2005 to certain
        employees, including the following executive officers: (1) $37,500 to Louis
        Slaughter, Chief Executive Officer; (2) $33,750 to Douglas Lockie, President
        and
        Chief Technical Officer; (3) $30,000 to Thomas P.Wetmore, Senior Vice President,
        Sales and Marketing; (4) $12,700 to John Krzywicki, Vice President Marketing,
        Strategy and Business Development; (5) $13,125 to Leighton Stephenson, Chief
        Financial Officer and Vice President of Finance and Administration; (6) $27,750
        to Don E. Peck, Vice President Engineering and Manufacturing; (7) $28,500
        to D.
        Duane Butler, Vice President Link Operations; and (8) $25,500 to Caroline
        Kahl,
        Vice President, Corporate Counsel and Secretary.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        the
        same day, the Compensation Committee established the potential bonus and
        performance goals for executive officers and certain other Company personnel
        for
        calendar year 2006 (the &#8220;2006 Bonus Plan&#8221;). The 2006 Bonus Plan provides for the
        payment of a cash bonus to the Company&#8217;s executive officers based upon (i)
        specified levels of revenue and net operating income/loss to be realized
        by the
        Company for the year 2006 and (ii) specified individual performance goals.
        The
        level of revenue and net operating income/loss achieved correspond to a bonus
        factor or multiplier used to calculate each executive officer&#8217;s bonus. The
        overall cash bonus is weighted differently for&#160;specified executive officers
        between revenue and net operating income/loss. No bonuses will be paid if
        the
        Company does not achieve at least $20,000,000 in revenue and corresponding
        projected net operating income/loss for 2006. In addition, each executive
        officer will be penalized a percentage of bonus to be realized for not achieving
        individual performance goals. Under the 2006 Bonus Plan, Mr. Butler is eligible
        for an additional cash bonus based upon achieving specified operating profit
        margins.</font></div>
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      <div id="FTR">
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        </div>
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        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
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      <div id="HDR">
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        </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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 thereunto
      duly authorized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div>
        <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

            <tr valign="top" bgcolor="#ffffff">
              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
              <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
              <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">GigaBeam
                Corporation</font></td>
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            <tr valign="top" bgcolor="#ffffff">
              <td>&#160;</td>
              <td colspan="2"><font size="2">(Registrant)</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
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            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Date:&#160;February
                9, 2006</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/&#160;Caroline
                Baldwin Kahl</font></td>
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              <td align="left">
                <hr style="COLOR: black" align="left" noshade size="2" width="80%"><font size="2">Caroline
                Baldwin Kahl</font></td>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vice
                  President and Corporate
                  Counsel</font></div>
              </td>
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{"company-data": {"conformed-name": "GIGABEAM CORP", "cik": "0001279831", "assigned-sic": "3663", "irs-number": "200607757", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50985", "film-number": "06593623"}, "business-address": {"street1": "470 SPRING PARK PLACE", "street2": "SUITE 900", "city": "HERNDON", "state": "VA", "zip": "20170", "phone": "703-378-0099"}, "mail-address": {"street1": "470 SPRING PARK PLACE", "street2": "SUITE 900", "city": "HERNDON", "state": "VA", "zip": "20170"}}
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
WASHINGTON,
      DC 20549
FORM
      8-K
CURRENT
      REPORT PURSUANT
TO
      SECTION 13 OR 15(D) OF THE
SECURITIES
      EXCHANGE ACT OF 1934
Date
                of report (Date of earliest event reported)
February
                3, 2006
GigaBeam
                  Corporation
(Exact
                  Name of Registrant as Specified in Its
                  Charter)
Delaware
(State
                  or Other Jurisdiction
of
                  Incorporation)
0-50985
20-0607757
(Commission
                File Number)
(IRS
                Employer Identification
                No.)
470
                  Springpark Place, Suite 900, Herndon,
                  VA
20170
(Address
                  of Principal Executive
                  Offices)
(Zip
                  Code)
(571)
                  283-6200
(
Registrant's
                  Telephone Number, Including Area Code)
(Former
                    Name or Former Address, if Changed Since
                    Last Report)
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):
o
Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)
o
Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)
o
Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))
o
Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))
Item
        1.01
Entry
        into Material Definitive Agreement
On
        February 3, 2006, the Compensation Committee of the Board of Directors of
        GigaBeam Corporation (the "Company") approved a nominal increase not to exceed
        five percent (5%) in the annual base compensation to certain of its executive
        officers resulting in annual base compensation, effective as of January 1,
        2006,
        as follows: (1) $210,000 for Thomas P.Wetmore, Senior Vice President, Sales
        and
        Marketing; (2) $204,750 for John Krzywicki, Vice President Marketing, Strategy
        and Business Development; (3) $199,500 for D. Duane Butler, Vice President
        Link
        Operations; (4) $194,250 for Don E. Peck, Vice President Engineering and
        Manufacturing; (5) $183,750 for Leighton Stephenson, Chief Financial Officer
        and
        Vice President of Finance and Administration; and (6) $178,500 for Caroline
        Kahl, Vice President, Corporate Counsel and Secretary.
In
        addition, the Compensation Committee authorized the payment of a one-time
        discretionary cash bonus performance award for calendar year 2005 to certain
        employees, including the following executive officers: (1) $37,500 to Louis
        Slaughter, Chief Executive Officer; (2) $33,750 to Douglas Lockie, President
        and
        Chief Technical Officer; (3) $30,000 to Thomas P.Wetmore, Senior Vice President,
        Sales and Marketing; (4) $12,700 to John Krzywicki, Vice President Marketing,
        Strategy and Business Development; (5) $13,125 to Leighton Stephenson, Chief
        Financial Officer and Vice President of Finance and Administration; (6) $27,750
        to Don E. Peck, Vice President Engineering and Manufacturing; (7) $28,500
        to D.
        Duane Butler, Vice President Link Operations; and (8) $25,500 to Caroline
        Kahl,
        Vice President, Corporate Counsel and Secretary.
On
        the
        same day, the Compensation Committee established the potential bonus and
        performance goals for executive officers and certain other Company personnel
        for
        calendar year 2006 (the "2006 Bonus Plan"). The 2006 Bonus Plan provides for the
        payment of a cash bonus to the Company's executive officers based upon (i)
        specified levels of revenue and net operating income/loss to be realized
        by the
        Company for the year 2006 and (ii) specified individual performance goals.
        The
        level of revenue and net operating income/loss achieved correspond to a bonus
        factor or multiplier used to calculate each executive officer's bonus. The
        overall cash bonus is weighted differently for specified executive officers
        between revenue and net operating income/loss. No bonuses will be paid if
        the
        Company does not achieve at least $20,000,000 in revenue and corresponding
        projected net operating income/loss for 2006. In addition, each executive
        officer will be penalized a percentage of bonus to be realized for not achieving
        individual performance goals. Under the 2006 Bonus Plan, Mr. Butler is eligible
        for an additional cash bonus based upon achieving specified operating profit
        margins.
SIGNATURES
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 thereunto
      duly authorized.
GigaBeam
                Corporation
(Registrant)
Date: February
                9, 2006
By:
/s/ Caroline
                Baldwin Kahl
Caroline
                Baldwin Kahl
Vice
                  President and Corporate
                  Counsel