  We construct new exact solutions of the focusing Nonlinear Schr\"{o}dinger
equation (NLSE). This is a soliton propagating on an unstable condensate. The
Kuznetsov and Akhmediev solitons as well as the Peregrine instanton are
particular cases of this new solution. We discuss applications of this new
solution to the description of freak (rogue) waves in the ocean and in optical
fibers.
