Exhibit 4.25

April 28,
2004

Charles
Immendorf
27732 NE 145th Place
Duvall, Washington
98019

PERSONAL AND CONFIDENTIAL

Dear
Chaz:

Following
our discussions, this is to confirm that we are very pleased to offer you a permanent position with SR Telecom Inc ("the Company") at its Head Office in Montreal, further to the decision to
shut down the operations in Redmond, Washington.

This
offer is conditional upon you obtaining and maintaining a Canadian work permit.

This
document contains the necessary information pertaining to this transfer and to this new position.



You
will hold the position of Vice President R&D, reporting to Benoit Pinsonnault, Sr Vice President, Operations.



The
transfer date is yet to be determined but will be no later than August 1st, 2004. The effective date will be confirmed as soon as possible.



Effective
your transfer date, you will be paid through the Canadian payroll. You will be considered a Canadian permanent employee and be entitled to all benefits and programs normally available to our
Canadian employees, subjected to the Quebec Employment Standards Act and all other relevant governmental legislations. SR Telecom will work with you to obtain the necessary work permit for yourself
and the appropriate visa for your dependants and work permit for your spouse.



Your
initial hire date of May 22, 1995 will be recognized as your employment service date with the Company.



Your
current annual base salary of $160,000 US will be converted to Canadian dollars, at the average exchange rate of the six months preceding your transfer date. Every 6 months, the salary
will be adjusted using the preceding 6-month average exchange rate until the end of the 29-month period.

Your
salary is based on a 40-hour week and is paid on a bi-weekly basis as per your current payroll

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Performance
and compensation reviews will take place at the beginning of each calendar year, according to corporate policies and guidelines.

You
will be entitled to a Transfer Bonus of 50% of your current annual base salary, equivalent to $80,000 US, less applicable deductions, payable in one lump sum on the last pay day before your
transfer. Should you voluntarily leave SR Telecom Inc. within the first twelve months from the date of your transfer to Montreal, you agree to reimburse SR Telecom Inc. the net value of
this bonus. Should you voluntarily leave SR Telecom Inc. in the period between the13th and the 24th month following your transfer, you agree to reimburse half of the net value of
this bonus. Should you leave after the 24th month, you will not have to reimburse the net value of this bonus.

You are entitled to participate to the SR Telecom Inc Management Incentive Plan offered to our management team members. For 2004, the target bonus is 19% and can go up to 30%
based on the achievement of your personal performance objectives and subjected to the company's performance for the year. Payment for this bonus is normally scheduled for the beginning of the second
quarter of the following fiscal year. Details of the Plan will be provided shortly. For year 2004, this bonus will be prorated based on your start date as Vice-President in
Montreal.

Subject
to Board approval, the Company will establish a new Long Term Incentive Plan for Management team members before year-end 2004. You will be entitled to participate at the level
relevant to your position in the organization.

You
are entitled to participate to the Flexible Perquisites Account, an allowance offered exclusively to the Corporate Vice-Presidents and equal to 10% of your annual base salary. Details
of this Plan will be communicated separately. For year 2004, this allowance will be prorated based on your start date as Vice-President in Montreal.



You
will be considered as a Canadian resident from a fiscal point of view and therefore be subjected to the Canadian and Quebec fiscal laws. SR Telecom will support you in applying to the Quebec Tax
Holiday for Foreign Experts program. You will find attached more details on this program as well as a list of information items required to initiate the registration process.

For
fiscal years 2004 and 2005, the Company will cover the fees of a tax consultant to assist you with the duty of filing your own income tax reports in Canada and in the USA. The Company will select
the consultant.

In
addition, in the upcoming weeks, the Company will organize a group conference call on taxation issues.

You
will find enclosed a Cost of Living Comparison summary sheet for your information.



Effective
your transfer date, you will be entitled to the SR Telecom Inc. Benefits Program. This program includes health insurance, vision care and dental care, subject to some limitations in
the first three months. You will be entitled to family coverage. In addition, effective your transfer date, you will be eligible to a short term and a long term disability program as well as Life and
Accidental Death and Dismemberment (AD&D) insurance. As a Quebec resident, you will be eligible to the government-sponsored medical plan effective 3 months from your arrival in the province and
upon completion of the required forms.

The
group Benefits Plan is contributory and is paid for by contributions from both the company and the employees. Your contribution is equivalent to 30% of the total cost of the insurance. We estimate
that in your personal situation (family status and salary level), the approximate cost would be less than $85 CDN bi weekly. Details on these programs are attached.

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Effective
your transfer date, you will be entitled to the SR Telecom Inc Retirement Savings Plan (RSP). This plan allows both the Company and employees to contribute. The Plan provides for a company
contribution of 3% of your base salary and the possibility for you to contribute to the Plan. According to tax laws, you will be able to contribute to the Plan starting January 2005. Subject to
a certain maximum contribution, the company will match your contribution, dollar for dollar, up to 2%. In recognition of your employment service with the Company, you will be fully vested in this
Plan, effective your transfer date.

Details
on the termination of the Safe Harbor 401K Plan will be communicated shortly.



You
will be entitled to the vacation policy offered to our Canadian employees. Please note that sick days and personal days are treated separately from vacation.

Based
on your employment service date and corporate policy, you are entitled to 4 weeks of vacation per year. Under our policy, vacation days are not taken as soon as they are earned: they are
accumulated from July 1st to June 30th each year and are taken starting the following July 1st. Your vacation entitlement on
July 1st, 2005 will be calculated according to a prorata of the period of work between your transfer date and June 30th, 2005. Vacation days granted on
July 1st must be taken before December 31st of the following year or they will be lost.

To
ease the transition and enable you to benefit from paid vacation upon your transfer, your current PTO bank will be converted hour for hour to vacation days. Those days will have to be taken before
December 31st, 2005. In the event that you have accumulated more than 120 PTO hours, the extra hours (over 120) could be paid to you on the last pay day before your
transfer, if you request it.

In
addition to the annual vacation days, we observe 8 statutory holidays during the year, plus 3 paid days taken in conjunction with Christmas and New Year's.



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Government
regulations impose public schooling in French on children of new comers. If required, SR Telecom will cover the cost associated with additional French tutoring for the first school year.
The cost must be pre approved. In the event that you prefer that your children study in English, SR Telecom will make every effort to support you in applying for your children's eligibility to the
English public school system in Montreal.



In
the event that SR Telecom terminates your employment for reasons other than for just cause at any time following your transfer, the Company will grant you a lump sum amount of $25,000 US (converted
to Canadian dollars at the average exchange rate over the preceding 6 months) replacing any required notice and severance. No relocation costs will be covered.

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At
any time, should you resign, no severance will be paid, the moving and related costs would be your responsibility and you may have to pay back a portion of your Transfer Bonus, as stipulated above.

Approximately
29 months after your transfer, SR Telecom will offer you a choice: (1) employment continuation in Montreal or (2) return to Seattle.

Chaz,
we are happy to welcome you to Montreal and hope that you find great satisfaction in your new position and new environment. Please be reminded that you are required to sign a Confidentiality
Agreement, given the nature of our business. This offer and your conditions of employment are strictly confidential. This letter replaces any previous offer(s) of transfer to Montreal.

Please
indicate your acceptance by completing and duly signing below this letter of offer before April 29, 2004.

|/s/ MARIE-FRANCE DESNOYERSMarie-France Desnoyers |  | 
|------------------------------------------------ |  | 
|Vice President Human Resources                  

I accept this offer conditional to a successful exploratory trip

|(signature) |  | (date)
|----------- |  | ------

I confirm my final acceptance of this offer

|/s/ CHARLES IMMENDORF(signature) |  | April 29, 2004(date)
|-------------------------------- |  | --------------------

I refuse this offer

|(signature) |  | (date)
|----------- |  | ------

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