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Exhibit 4.24    
    

PRIVATE & CONFIDENTIAL

DELIVERED IN PERSON

February 18,
2005 

Mr. Benoit
Pinsonnault

2708 Montée Gagnon

Blainville (Québec) J7E 4H5 

Dear
Benoit, 

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. 

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/  PIERRE ST-ARNAUD      
 Mr. Pierre St-Arnaud

President and Chief Executive Officer	
 	

 

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/ BENOIT PINSONNAULT	
 	

February 18, 2005
	
 Benoit Pinsonnault	 	
 Date

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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. 

	•
	Position:  

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

	•
	Transfer Date:  

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. 

	•
	Employee Status:  

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. 

	•
	Employment Service:  

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

	•
	Compensation:  

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 

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. 

	•
	Fiscal status:  

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. 

	•
	Group Benefits Program:  

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. 

	•
	Retirement Savings Plan:  

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. 

	•
	Vacation and Holidays:  

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. 

	•
	Moving and related expenses:  

 Exploratory trip:  

In
order to assist you in making your decision about the transfer, SR Telecom will enable you and your spouse to visit Montreal ahead of your actual transfer to get acquainted with the city and its
amenities. For this exploratory trip, the Company is providing you with the services of a relocation consultant, specialized in accompanying transferred employees or new comers to the city. S/he will
assist you in visiting neighbourhoods, identifying potential schools and other services and, in general, exploring the city. S/he will be able to answer most questions relative to the daily life in
Montreal. The exploratory trip will last 3 days, plus required travel time. These days will be compensated. The Company will organize the flight, the reservation of a car and the booking of a
hotel as well as providing, for you and your spouse, a per diem for meals and incidentals. The amount of per diem is established by our travel policy. It is currently $75 CDN per person. A second trip
with your spouse may be added but it must coincide with a business trip to Montreal. 

 Move:  

SR
Telecom will pay for the packing, insuring and moving by ground transportation, of your furniture and personal effects with the mover of its choice. Valuable items, such as (but not limited
to) jewellery, antiques, artwork, family heirlooms, coin/stamp collections, items of unusual value will be included in the shipment but the cost of the insurance and custom clearance for these
valuable items will be your responsibility. It is recommended that you have such items appraised before packing and moving. 

The
Company will not cover the cost of moving or any other related costs for the following items (but not limited to): cars, boats, motorcycles, trailers and animals. Interim storage, if there
are no other solutions, will be included. 

It
is expected that you will use your PTO hours for the days needed to move and settle in your new residence. 

 Airfare:  

SR
Telecom will cover the cost of economy class service airfare for you and your family from Seattle to Montreal. The company will organize the flight. Since your household goods will likely not be in
Montreal upon your arrival, the Company will cover the cost of 1 excess piece of luggage per person, such excess baggage not exceeding 70 lbs. 

 Temporary lodging:  

It
is expected that you will make every effort to have your new residence ready upon your arrival in Montreal. However, in the event that it isn't the case, SR Telecom will cover the cost of temporary
lodging in an all-furnished apartment of its choice for up to 3 months. The apartment will vary according to family size. 

 Temporary car:  

SR
Telecom will rent on your behalf a mid size car for up to one month. 

 Relocation consultant:  

During
the first few weeks upon your arrival, you will be entitled to the relocation consultant services for a pre-determined maximum. These services include but are not limited to:
finding a suitable area where to live, finding a school, opening a bank account, coping with obtaining administrative documents such as driver's licence, social insurance cards, medical care cards
etc. 

 Incidental expenses:  

Upon
your move to your new permanent residence, you will be entitled to a lump sum payment of 2 weeks of your net Canadian base salary for expenses such as cleaning the residence and utility
hook ups. 

 Real Estate:  

If
you sell your main residence in Duvall through a real estate agent, the Company will reimburse half of the commission paid up to a maximum of $15,000 US, upon presentation of proof. Costs related
to the purchase of a residence in Montreal will not be covered. Any gain or loss on the sale of your residence, if applicable, is your own responsibility. 

	•
	Schooling:  

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. 

	•
	Termination:  

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. 

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. 

	(1)
	Should
you decide to continue your employment in Montreal, the Company will grant you a retention bonus of $25,000 US, converted to Canadian dollars at the average exchange rate over
the preceding 6 months. The company reserves the right to adjust your salary to reflect the Montreal market conditions prevalent at that time for positions such as yours, taking into account
your performance and expertise. For all policies and programs, you will continue to be treated as a Canadian employee.

	(2)
	Should
you make the decision to return to Seattle, the Company will terminate your employment and grant you a termination allowance of $25,000 US converted to Canadian dollars at the
average exchange rate over the preceding 6 months, in lieu of any severance pay or notice you may be entitled to. No relocation costs will be covered. 

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 DESNOYERS
 Marie-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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Exhibit 4.25

PERSONAL AND CONFIDENTIAL

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