Multiple-quantum-well (M.Q.W.) and quantum-confined-stark-effect (Q.C.S.E.) have been widely used in designing and fabricating electroabsorption modulators. In this paper, material InAlAs/InGaAlAs near 1500nm transition is used to be our target for designing and fabricating EAM due to its high band-offset ratio (electron to hole) and the strong exciton effect. A calculation model for quantum well absorption has been developed to design EAM active region. Asymmetrically inserting a thin-spiked potential barrier into wide Q.W. structure, the Q.W. can have high efficiency of Q.C.S.E. without lowing the electron-hole wave function overlap integral, causing high electroabsorption coefficient and optical modulation. Tuning material composition (~-0.4% tensile strain ) is also used for polarization independence characteristics. Traveling-wave EAM based on InAlAs / InGaAlAs material system is also fabricated and measured. Polarization independence 2~5 dB operation, low voltage swing of 1V for 15 dB extinction ratio, high-speed electrical-to-optical response with ¡V3dB bandwidth of >20GHz at 50£[ termination have been achieved showing high potential in broad band fiber optical communication.