Document:

QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 4.22    
    

PRIVATE & CONFIDENTIAL

DELIVERED IN PERSON  

February 4th
2005 

Monsieur
Pierre St-Arnaud

420 Stannock

Ville Mont-Royal (Québec) H3P 1V9 

Dear
Pierre, 

SR
Telecom Inc. ("SR Telecom" or the "Company") is currently in the process of refinancing as well as restructuring and consolidating its operations. This restructuring may lead to changes in
SR Telecom share ownership structure or to modifications of a substantial part of SR Telecom's assets. 

We
recognize that this is a challenging period and appreciate your on-going commitment and contribution to the benefit of all of SR Telecom's stakeholders. Accordingly, the Board of
Directors of SR Telecom (the "Board") has approved enhanced conditions to your existing employment terms as an exception to those applicable under SR Telecom's regular policy, in the event of
the Termination of your employment by SR Telecom following a Change of Control for a reason other than for cause. The Board has also approved other exceptional and enhanced conditions in the event of
the Termination of your employment by SR Telecom, absent a Change of Control, for a reason other than for cause. 

For
the purposes of these enhanced conditions only, the terms "Change of Control" and "Termination of employment" shall have the following meanings ascribed to them: 

	(a)
	"Change of Control": a change of control shall be deemed to have occurred with respect of SR Telecom if:

	(i)
	any
person, or any two or more persons acting as a group, and all affiliates of such person or persons, who prior to such time beneficially owned less than 50% of the then outstanding
capital stock of SR Telecom, shall acquire shares of SR Telecom's capital stock in one or more transactions or series of transactions, and after such transaction or transactions such person or persons
beneficially own 50% or more of SR Telecom's outstanding capital stock; or

	(ii)
	individuals
who on January 1st 2005 constitute the Board of Directors (together with any new directors whose election by the Board of Directors or whose
nomination for election to the Board of Directors by SR Telecom's shareholders was approved by a vote of at least two-thirds of the members of the Board of Directors then in office who
either were members of the Board of Directors on January 1st, 2005 or whose election or nomination for election was previously so approved) cease for any reason to constitute a
majority of the members of the Board of Director of SR Telecom then in office; or

	(iii)
	there
is consummated a merger, consolidation, reorganization or share exchange involving SR Telecom or the sale or other disposition of all or substantially all of its assets (each
a "Business Combination") unless, immediately after such Business Combination, all or substantially all of the individuals and entities who were the beneficial owners of voting capital of SR Telecom
immediately before the Business Combination beneficially own, directly or indirectly, more than 50% of the then outstanding voting capital of the resulting or acquiring entity in such Business
Combination (which shall include, without limitation, a corporation which as a result of such transaction owns SR Telecom or substantially all of SR Telecom's assets either directly or indirectly) in
substantially the same proportions as their respective ownership in the outstanding voting capital immediately before such Business Combination; or 

	(iv)
	proceedings
are commenced by or against SR Telecom to seek (i) its reorganization, liquidation, dissolution, arrangement or winding-up, or the composition or
readjustment of its debt; (ii) the appointment of, or the taking of possession by, a receiver, custodian, trustee, examiner, liquidator or the like of it or any substantial part of its
property; (iii) to take advantage of or to obtain relief in respect of SR Telecom under any law relating to bankruptcy, insolvency, reorganization, winding up or composition or readjustment of
debts; or (iv) make a general assignment for the benefit of its creditors.

	(b)
	"Termination of employment": means the termination of your employment by SR Telecom for any reason other than for cause (serious
reason); it shall also, exceptionally, mean the termination of your employment by yourself if there exists a situation of a significant diminution, without your consent, in your regular remuneration
(excluding, for greater certainty, any stock options or bonuses) or in your responsibilities, unless such diminution is for cause (serious reason).

	A-
	In
the event of the Termination of your employment within the twelve (12) months following a "Change of Control" as set out in
paragraph (a) (i) (ii) or (iii) above, the enhanced conditions are as follows:

	1.
	You
will receive a cash indemnity, which will include the equivalent of the minimum notice pursuant to the Labour Standards Act and/or
all notice requirements provided for in the Civil Code of Québec, calculated as the sum of:

	a)
	The
equivalent of your then current base salary for twenty-four (24) months.

	b)
	The
equivalent of your FPA (Flex Perquisites Account) for twenty-four (24) months; 

This
indemnity compensates for and is in lieu of the loss of any fringe or other benefits (professional dues, floating holidays, etc.) attached to your job, except for those preserved or extended as
outlined below, and will be subject to all statutory deductions under applicable laws. 

	2.
	You
will receive a lump sum payment for the value of vacation time accrued but unused as of your termination date, again subject to all statutory deductions under applicable laws. You
will also be reimbursed for all your business expenses properly incurred up to the effective date of departure, as per company policy.

	3.
	Should
you choose to receive a portion of the cash indemnity as outlined in 1 a) as salary continuance, the life, medical and dental coverage which you elected under SR
Telecom's group insurance plan will, exceptionally, continue for the period during which you will receive salary continuance. Likewise, you will be entitled to receive the basic and the matching
contributions under the Retirement Savings Plan ("RSP"). The cost of the Group insurance coverage extension will be borne entirely by SR Telecom. This coverage extension as well as the RSP
contributions will only be possible with salary continuance and will cease when the salary continuance terminates or when you secure alternate employment or other gainful activities, at which time,
you undertake to advise SR Telecom, whichever occurs first. Please note, however, that the short-term and long-term disability coverage under SR Telecom's group insurance plan
will cease on your last day of employment.

	4.
	You
will receive career transition counselling services applicable to your level from a company designated outplacement consulting firm and the cost of these services will be borne by
SR Telecom up to a maximum of $20,000. Please note, however, that you will not be allowed to convert the value of these services into cash.

	5.
	As
for your stock options under the Key Employee Stock Option Plan ("KESOP"), in accordance with the plan provisions, they will become fully vested on the day prior to the effective
date of the Change of Control. 

	6.
	You
will be entitled to keep the Company provided mobile phone that you have at your disposal, on condition that you accept a transfer of responsibility of the account.

	B-
	In
the event of the Termination of your employment either within twelve (12) months following a Change of control set out in paragraph (a) (iv) above,
or in the absence of any "Change of control", the enhanced conditions are as follows:

	(i)
	Paragraphs 2
(vacation) and 6 (phone) above shall apply;

	(ii)
	Paragraphs 3
(life, medical, dental) and 4 (career transition counselling) shall also apply except that the duration of these benefits shall be determined in
accordance with SR Telecom's restructuring plan, as is to be determined and a summary of which, as it pertains to your level, will be provided to you in due course;

	(iii)
	Paragraph 1
and paragraph 5 above shall not apply; rather you will receive a lump sum cash indemnity, which will include the equivalent of the minimum
notice under the Labour Standards Act, calculated as provided for in the restructuring plan. Additionally, your rights with regard to your stock options
shall be in accordance with the provisions of the KESOP. 

The
enhanced conditions set out above are, in all cases (A and B), conditional upon your agreeing and signing, upon the termination of your employment, an appropriate Release & Discharge
prepared by SR Telecom as set out in Schedule "A" which will include an entering into covenants respecting confidentiality, loyalty, non-solicitation and
non-competition. 

In
the event of the termination of your employment for cause (serious reason), SR Telecom will proceed in accordance with its regular policy and in conformity with the law. 

SR
Telecom reserves the right to determine if a "Termination of employment" has occurred or if a "Change of Control" exists. 

In
the absence of a Termination of employment, should you resign from your employment within twelve (12) months of a Change of Control set out in
paragraph (a) (i), (ii) or (iii) above, you shall be entitled to the enhanced conditions set out above in paragraph 1, 2, 3, 4, 5 and 6, conditional
upon the signing of the Release & Discharge referred to above. 

The information contained in this letter is specific to yourself and you are required to maintain its receipt and contents in the strictest confidentiality,
failing which the enhanced conditions described in this letter will become null and void.

Please
sign and date this letter in the acceptance section below and return a copy to Manon Trottier. 

To
conclude, we trust that these enhanced conditions will provide you with a greater level of comfort commensurate with our mutual appraisal of your personal and professional circumstances. We
appreciate your on-going contribution and know we can count on your invaluable support during this period of transition and challenge. 

SR Telecom Inc.

	By:	 	/s/ LIONEL HURTUBISE
 Mr. Lionel Hurtubise	 	 
	 	 	Chairman of the Board of Directors of SR Telecom Inc.

ACCEPTANCE  

I
have read and understood the terms of this letter, including the fact that I must keep these terms and the receipt of this letter confidential. In addition, I agree to
enter into the covenants respecting confidentiality, loyalty, non-solicitation and non-competition including in the Release & Discharge immediately after the signing of
this acceptance. I confirm that I have expressly required that the present letter and all documents referred to therein be drafted in the English language; je confirme avoir
expressément exigé que la présente lettre et tout document y mentionné soit rédigé en langue
anglaise.

	/s/ PIERRE ST-ARNAUD
 Pierre St-Arnaud	 	February 14, 2005
 Date

QuickLinks

Exhibit 4.22QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 4.23    
    

PRIVATE & CONFIDENTIAL

DELIVERED IN PERSON  

February 4th
2005 

Mr. David
L. Adams

317 Pinetree Cr.

Beaconsfield, Quebec H9W 5E2 

Dear
David, 

SR
Telecom Inc. ("SR Telecom" or the "Company") is currently in the process of refinancing as well as restructuring and consolidating its operations. This restructuring may lead to changes in
SR Telecom share ownership structure or to modifications of a substantial part of SR Telecom's assets. 

We
recognize that this is a challenging period and appreciate your on-going commitment and contribution to the benefit of all of SR Telecom's stakeholders. Accordingly, the Board of
Directors of SR Telecom (the "Board") has approved enhanced conditions to your existing employment terms as an exception to those applicable under SR Telecom's regular policy, in the event of
the Termination of your employment by SR Telecom following a Change of Control for a reason other than for cause. The Board has also approved other exceptional and enhanced conditions in the event of
the Termination of your employment by SR Telecom, absent a Change of Control, for a reason other than for cause. 

For
the purposes of these enhanced conditions only, the terms "Change of Control" and "Termination of employment" shall have the following meanings ascribed to them: 

	(a)
	"Change of Control": a change of control shall be deemed to have occurred with respect of SR Telecom if:

	(i)
	any
person, or any two or more persons acting as a group, and all affiliates of such person or persons, who prior to such time beneficially owned less than 50% of the then outstanding
capital stock of SR Telecom, shall acquire shares of SR Telecom's capital stock in one or more transactions or series of transactions, and after such transaction or transactions such person or persons
beneficially own 50% or more of SR Telecom's outstanding capital stock; or

	(ii)
	individuals
who on January 1st 2005 constitute the Board of Directors (together with any new directors whose election by the Board of Directors or whose
nomination for election to the Board of Directors by SR Telecom's shareholders was approved by a vote of at least two-thirds of the members of the Board of Directors then in office who
either were members of the Board of Directors on January 1st, 2005 or whose election or nomination for election was previously so approved) cease for any reason to constitute a
majority of the members of the Board of Director of SR Telecom then in office; or

	(iii)
	there
is consummated a merger, consolidation, reorganization or share exchange involving SR Telecom or the sale or other disposition of all or substantially all of its assets (each
a "Business Combination") unless, immediately after such Business Combination, all or substantially all of the individuals and entities who were the beneficial owners of voting capital of SR Telecom
immediately before the Business Combination beneficially own, directly or indirectly, more than 50% of the then outstanding voting capital of the resulting or acquiring entity in such Business
Combination (which shall include, without limitation, a corporation which as a result of such transaction owns SR Telecom or substantially all of SR Telecom's assets either directly or indirectly) in
substantially the same proportions as their respective ownership in the outstanding voting capital immediately before such Business Combination; or 

	(iv)
	proceedings
are commenced by or against SR Telecom to seek (i) its reorganization, liquidation, dissolution, arrangement or winding-up, or the composition or
readjustment of its debt; (ii) the appointment of, or the taking of possession by, a receiver, custodian, trustee, examiner, liquidator or the like of it or any substantial part of its
property; (iii) to take advantage of or to obtain relief in respect of SR Telecom under any law relating to bankruptcy, insolvency, reorganization, winding up or composition or readjustment of
debts; or (iv) make a general assignment for the benefit of its creditors.

	(b)
	"Termination of employment": means the termination of your employment by SR Telecom for any reason other than for cause (serious
reason); it shall also, exceptionally, mean the termination of your employment by yourself if there exists a situation of a significant diminution, without your consent, in your regular remuneration
(excluding, for greater certainty, any stock options or bonuses) or in your responsibilities, unless such diminution is for cause (serious reason).

	A-
	In
the event of the Termination of your employment within the twelve (12) months following a "Change of Control" as set out in
paragraph (a) (i) (ii) or (iii) above, the enhanced conditions are as follows:

	1.
	You
will receive a cash indemnity, which will include the equivalent of the minimum notice pursuant to the Labour Standards Act and/or
all notice requirements provided for in the Civil Code of Québec, calculated as the sum of:

	a)
	The
equivalent of your then current base salary for eighteen (18) months.

	b)
	The
equivalent of your FPA (Flex Perquisites Account) for eighteen (18) months; 

This
indemnity compensates for and is in lieu of the loss of any fringe or other benefits (professional dues, floating holidays, etc.) attached to your job, except for those preserved or extended as
outlined below, and will be subject to all statutory deductions under applicable laws. 

	2.
	You
will receive a lump sum payment for the value of vacation time accrued but unused as of your termination date, again subject to all statutory deductions under applicable laws. You
will also be reimbursed for all your business expenses properly incurred up to the effective date of departure, as per company policy.

	3.
	Should
you choose to receive a portion of the cash indemnity as outlined in 1 a) as salary continuance, the life, medical and dental coverage which you elected under SR
Telecom's group insurance plan will, exceptionally, continue for the period during which you will receive salary continuance. Likewise, you will be entitled to receive the basic and the matching
contributions under the Retirement Savings Plan ("RSP"). The cost of the Group insurance coverage extension will be borne entirely by SR Telecom. This coverage extension as well as the RSP
contributions will only be possible with salary continuance and will cease when the salary continuance terminates or when you secure alternate employment or other gainful activities, at which time,
you undertake to advise SR Telecom, whichever occurs first. Please note, however, that the short-term and long-term disability coverage under SR Telecom's group insurance plan
will cease on your last day of employment.

	4.
	You
will receive career transition counselling services applicable to your level from a company designated outplacement consulting firm and the cost of these services will be borne by
SR Telecom up to a maximum of $20,000. Please note, however, that you will not be allowed to convert the value of these services into cash.

	5.
	As
for your stock options under the Key Employee Stock Option Plan ("KESOP"), in accordance with the plan provisions, they will become fully vested on the day prior to the effective
date of the Change of Control. 

	6.
	You
will be entitled to keep the Company provided mobile phone that you have at your disposal, on condition that you accept a transfer of responsibility of the account.

	B-
	In
the event of the Termination of your employment either within twelve (12) months following a Change of control set out in
paragraph (a) (iv) above, or in the absence of any "Change of control", the enhanced conditions are as follows:

	(i)
	Paragraphs 2
(vacation) and 6 (phone) above shall apply;

	(ii)
	Paragraphs 3
(life, medical, dental) and 4 (career transition counselling) shall also apply except that the duration of these benefits shall be determined in
accordance with SR Telecom's restructuring plan, as is to be determined and a summary of which, as it pertains to your level, will be provided to you in due course;

	(iii)
	Paragraph 1
and paragraph 5 above shall not apply; rather you will receive a lump sum cash indemnity, which will include the equivalent of the minimum
notice under the Labour Standards Act, calculated as provided for in the restructuring plan. Additionally, your rights with regard to your stock options
shall be in accordance with the provisions of the KESOP. 

The
enhanced conditions set out above are, in all cases (A and B), conditional upon your agreeing and signing, upon the termination of your employment, an appropriate Release & Discharge
prepared by SR Telecom as set out in Schedule "A" which will include an entering into covenants respecting confidentiality, loyalty, non-solicitation and
non-competition. 

In
the event of the termination of your employment for cause (serious reason), SR Telecom will proceed in accordance with its regular policy and in conformity with the law. 

SR
Telecom reserves the right to determine if a "Termination of employment" has occurred or if a "Change of Control" exists. 

In
the absence of a Termination of employment, should you resign from your employment within twelve (12) months of a Change of Control set out in
paragraph (a) (i), (ii) or (iii) above, you shall be entitled to the enhanced conditions set out above in paragraph 1, 2, 3, 4, 5 and 6, conditional
upon the signing of the Release & Discharge referred to above. 

The information contained in this letter is specific to yourself and you are required to maintain its receipt and contents in the strictest confidentiality,
failing which the enhanced conditions described in this letter will become null and void.

Please
sign and date this letter in the acceptance section below and return a copy to Manon Trottier. 

To
conclude, we trust that these enhanced conditions will provide you with a greater level of comfort commensurate with our mutual appraisal of your personal and professional circumstances. We
appreciate your on-going contribution and know we can count on your invaluable support during this period of transition and challenge. 

SR Telecom Inc.

	By:	 	/s/ LIONEL HURTUBISE
 Mr. Lionel Hurtubise	 	 
	 	 	Chairman of the Board of Directors of SR Telecom Inc.

ACCEPTANCE  

I
have read and understood the terms of this letter, including the fact that I must keep these terms and the receipt of this letter confidential. In addition, I agree to
enter into the covenants respecting confidentiality, loyalty, non-solicitation and non-competition including in the Release & Discharge immediately after the signing of
this acceptance. I confirm that I have expressly required that the present letter and all documents referred to therein be drafted in the English language; je confirme avoir
expressément exigé que la présente lettre et tout document y mentionné soit rédigé en langue
anglaise.

	/s/ DAVID L. ADAMS
 David L. Adams	 	February 14, 2005
 Date

QuickLinks

Exhibit 4.23

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}]]