Document:

Ex 10.17

 

CONSULTANCY AGREEMENT

 

This Amended Agreement is entered into
by and between:

 

xG Technology, Inc. a company organized
under the laws of Delaware having its principal place of business at 240 S. Pineapple Ave., Sarasota, FL 34236 as
duly represented by Roger G. Branton (hereafter "xG Technology ").

 

and

 

Wennberg Industries Consulting AB,
Org nr: 556617-7027 with its registered mailing address at Emblavagen 4, 182 67 Djursholm, Sweden, as duly represented herein by
Mr. Mats Wennberg ("Consultant").

 

WHEREAS, in order to maximize its
sales network for xG Technology’s products in USA and international markets (the “Territory”), xG Technology
desires to engage the services of a consultant with significant experience in the wireless technology sector in the Territory;

 

Now therefore, the parties hereby
agree as follows:

 

		1.	DUTIES 

 

The “Duties” in this
Agreement may be performed by Mr. Mats Wennberg or any other employee as the Consultant or an under-consultant with corresponding
experience.

 

The duties are as follows: The
Consultant will provide advisory services and participate in meetings and or conference calls when needed and deemed appropriate.
The nature of the calls will be sales and operational and in this role the Consultant will report to the Chief Executive Officer.

 

xG Technology understands
that the Consultant has other client assignments (not competitive) and that the Consultant cannot be full-time. The
duties shall normally be performed during 1 – 1,5 days per week during the term of the agreement, although be accessible
24/7.

 

The foregoing duties shall be
reviewed from time-to-time by the parties and may be modified by their mutual agreement.

 

		2.	COMPENSATION

		2.1	xG Technology shall pay Consultant, in full and exclusive compensation for the duties
performed under this Agreement, the amount of: SEK 50,000 to be paid out monthly on a pro rata basis.

 

			Additional compensation may be paid out after prior written mutual agreement.

 

		2.2	xG Technology shall, in addition, reimburse Consultant for reasonable expenses of
travel, lodging, phone calls and other necessary and reasonable expenses incurred by Consultant in the performance of this
Agreement, provided that such expenses are supported by original receipts and other supporting documentation and that Consultant
obtains the written authorization of xG Technology prior to incurring such expenses.

 

		2.3	All amounts provided to Consultant under this Agreement shall be made payable by bank transfer
or by check in Consultant’s name and sent to Consultant at the address set forth above within thirty (30) days
from receipt by xG Technology of an invoice for said services which xG shall review and approve is acceptable.

 

		2.4	Consultant acknowledges and agrees that the amounts received under this Agreement are gross
of any taxes, fees and levies of any nature whatsoever, imposed by any authority with jurisdiction over any amounts received by
Consultant under this Agreement. Consultant will be solely responsible for the payment of any and all such taxes,
fees, levies and similar impositions.

  

	Consultancy Agreement: xG Technology, LLC	Page 1 of 3

 

    	 

    	 

    

 

		3.	CONFIDENTIALITY

		3.1	Any information acquired by Consultant, its employees, agents contractors, representatives
and shareholders, at anytime prior to or during the course of this Agreement, from xG Technology concerning existing or
contemplated products, services, processes, techniques, know-how or data identified as confidential by xG Technology, and
any information, data, and devices developed in the course of performing the activities described in this Agreement (hereafter,
"Confidential Information") are or shall be the property of xG Technology and shall be maintained in confidence
by Consultant. Consultant shall not use Confidential Information without xG Technology’s written
consent, except as necessary to perform the activities described in this Agreement.

 

		3.2	Upon the termination of this Agreement for any reason, Consultant shall, upon xG Technology’s
request, return to xG Technology all data, information and materials of any kind which constitute Confidential Information,
as such term is defined in this Agreement, as well as all copies, adaptations and independent compilations thereof made by Consultant
or otherwise in Consultant's possession; provided that Consultant may retain copies or originals of such documents
as may be required by national, state and local laws and regulations.

 

		4.	IDEAS/ASSIGNMENT

		4.1	All ideas, inventions, improvements or suggestions, whether or not patentable, (hereafter, "Ideas")
resulting directly or indirectly from the performance of the activities described in this Agreement, including conversations with
xG Technology shall belong to xG Technology. Consultant, its employees, agents contractors, representatives
and shareholders, agrees to disclose and assign to xG Technology such Ideas, whether made alone or in conjunction with others.
Consultant, its employees, agents contractors, representatives and shareholders, further agrees to render such assistance
as xG Technology may require to perfect such assignments and to publish, patent or protect the Ideas in any patent office
or in litigation for reasonable compensation based on the then prevailing hourly rate for such services during the term of this
Agreement and thereafter.

 

		4.2	Ideas not resulting from the performance of the activities described in this Agreement shall remain
the property of Consultant and shall not be disclosed to xG Technology in the absence of a separate agreement specifically
pertaining to such disclosure. All Ideas disclosed by Consultant to xG Technology in the absence of such agreement
may be used by xG Technology for any purpose and without additional compensation.

 

		5.	COPYRIGHT PROTECTED MATERIALS

			Copyright protected materials that are developed by Consultant, its employees, agents contractors,
representatives and shareholders, prior to or in the course of performing the activities described in this Agreement (the "Protected
Materials") shall be deemed as works made for hire and shall be the property of xG Technology unless applicable law
requires otherwise. Consultant hereby assigns the Protected Materials to xG Technology and agrees to sign and deliver
to xG Technology any documents required to complete such assignment. Should applicable law preclude xG Technology’s
ownership of the Protected Materials, Consultant hereby grants to xG Technology an unlimited, perpetual and royalty
free license to use, reproduce and distribute the Protected Materials and agrees to sign and deliver to xG Technology any
documents required to complete such license.

 

		6.	WARRANTIES AND COVENANTS

		6.1	Consultant represents and warrants that Consultant has full right and authority to
enter into this Agreement.

 

		6.2	Consultant represents and warrants that there are no outstanding obligations or agreements
which are inconsistent or in conflict with the execution or performance of the activities described in this Agreement.

 

		6.3	Consultant further warrants and agrees that Consultant does not at present and will
not during the term of this Agreement and for at least twelve months thereafter serve as a researcher, consultant or advisor for
others regarding any of the areas involved in this Agreement or with regard to projects upon which xG Technology is working
and of which Consultant has knowledge, or enter into any other agreements or contractual obligations, express or implied,
inconsistent or in conflict with any of the terms of this Agreement.

 

		7.	TERM AND TERMINATION

		7.1	This Agreement shall become effective as of September 1, 2005 (“Effective Date”), unless
terminated sooner as provided herein. Consultant shall not incur any liability for actions undertaken on behalf of xG prior to
the Effective Date of this agreement.

 

	Consultancy Agreement: xG Technology, LLC	Page 2  of 3

 

    	 

    	 

    

 

		7.2	This Agreement shall continue in effect for twelve (12) months from its Effective Date and thereafter
be renewed for successive periods of twelve (12) months if not terminated according to clause 7.3 below.

 

		7.3	Either party may terminate this Agreement with or without cause upon thirty (30) days prior written
notice to the other party.

 

		7.4	In the event of early cancellation or termination of this Agreement for any reason, xG Technology
shall pay Consultant pro-rata for the services rendered until such cancellation or termination, and Consultant shall
refund xG Technology pro-rata any amounts it may have received in advance for services still to be rendered after such cancellation
or termination, as the case may be.

 

		8.	MISCELLANEOUS

		8.1	Consultant shall be deemed to be an independent contractor for all purposes. Neither Consultant
nor any agent, representative or employee of Consultant shall be considered an agent, representative or employee of xG
Technology for any purpose.

 

		8.2	This Agreement constitutes the only contract or understanding between the parties hereto or between
any party hereto and any named or unnamed participant in the activities contemplated by this Agreement, relating to the subject
matter of this Agreement. No amendments, changes, extensions or modifications to this Agreement shall be valid and binding except
if in writing and signed by the parties hereto. This Agreement may be signed in one or more counterpart copies all of which together
shall constitute one Agreement and each of which may equally evidence this Agreement.

 

		8.3	This Agreement shall be construed and interpreted under and in accordance with the substantive
laws of the State of Florida. All disputes arising in connection with this Agreement shall be finally settled under the Rules of
Conciliation and Arbitration of the International Chamber of Commerce by one or more arbitrators appointed in accordance with said
Rules. The English language shall be used in any and all arbitral proceedings. The place of arbitration shall be Geneva, Switzerland.

 

		8.4	Except as explicitly permitted in this Agreement, Consultant may not incur any liability
on xG Technology’s behalf nor bind xG Technology to any contractual or payment obligation without the prior
written consent of xG Technology.

 

		8.5	The official text of this Agreement shall be in the English language. Should the parties sign or
execute a version of this Agreement in another language, any interpretation or construction thereof shall be based solely on the
English language text.

 

		8.6	All notices, demands, requests, submissions, reports or any other communications permitted or required
to be given under this Agreement shall be sent to the parties at the addresses indicated on the first page of this Agreement.

 

IN WITNESS WHEREOF, the parties
have executed this Agreement.

 

	xG Technology, Inc. 	 
	 	 	 
	By:	/s/ Roger G. Branton	 
	 	Roger G. Branton	 
	 	 	 
	Date:	 	 

 

Consultant

 

I have read and understood the above and
agree to all the terms of this Agreement.

 

Wennberg Industries Consultant AB

 

	By:	/s/ Mats Wennberg	 
	 	 	 
	Date 	28/2/2010	 

 

	Consultancy Agreement: xG Technology, LLC	Page 3  of 3Ex 10.18

 

Date:
14th of April 2011

 

xG TECHNOLOGY,
INC.

 

-
and -

 

MATS
WENNBERG

 

 

 

WARRANT
AGREEMENT

 

 

 

    	 

    	 

    

 

Contents

 

	No 	Heading	Page
	 	 	 
	 	Clauses	 
	 	 	 
	1.	Definitions	1
	 	 	 
	2.	The Warrant	2
	 	 	 
	3.	Adjustment of Subscription Rights	3
	 	 	 
	4.	Other Provisions	3
	 	 	 
	5.	No Obligation to Register Warrant Shares	4
	 	 	 
	6.	Assignment	4
	 	 	 
	7.	Rights as Shareholders	4
	 	 	 
	8.	Modification and Waiver	5
	 	 	 
	9.	Notices	5
	 	 	 
	10.	Law	5

 

    	 

    	 

    

 

THIS AGREEMENT is made this                               day
of             2011

 

BETWEEN:

 

		(1)	xG TECHNOLOGY, INC. (incorporated and registered in the United States of America) whose
principal office is at 240 S. Pineapple Avenue, Suite 701, Sarasota FL 34236 (the “Company”); and

 

		(2)	MATS WENNBERG, (with Swedish social secutity number 19580705-7533) of PO Box 57, SE-182
05 Djursholm, Sweden (the “Warrant Holder”).

 

IT IS AGREED:

 

		1.	Definitions

 

		1.1	In this Agreement the following words and expressions have the meanings set out below:

 

	 	“AIM”	means the market of that name operated by London Stock Exchange;
	 	 	 
	 	“Auditors”	means the auditors for the time being of the Company;
	 	 	 
	 	“London Stock Exchange”	means London Stock Exchange plc; 
	 	 	 
	 	“Shares”	means the shares of $0.01 each in the common stock of the Company;
	 	 	 
	 	“Subscription Price”	means $0.225 per Warrant Share;
	 	 	 
	 	“UK Listing Authority”	means the Financial Services Authority acting in its capacity as the competent authority for the purposes of Part VI of the Financial Services and Markets Act 2000 (as amended);
	 	 	 
	 	“Warrant”	means the right to subscribe for the Warrant Shares at the Subscription Price;
	 	 	 
	 	“Warrant Shares”	means up to 500,000 Shares; and
	 	 	 
	 	“Warrant Period”	means the period commencing on 14 April, 2011 and ending on 13 April, 2014.

  

    	1

    	 

    

 

 

		1.2	Headings in this Agreement are for ease of reference only and shall not be taken into account in
the construction of this Agreement.

 

		2.	The Warrant

 

In
consideration of the sum of $0.052 payable by way of premium for each Warrant Share for which the Warrant Holder is granted to
the right to subscribe hereunder and upon the terms of this Agreement, the Company hereby grants to the Warrant Holder the Warrant
which is exercisable at the Subscription Price in whole or in part during the period commencing on 14 April, 2011 and ending on
13 April, 2014.

 

		2.1	The Warrant shall be exercised by the Warrant Holder giving notice to the Company in writing of
the number of Warrant Shares in respect of which it wishes to exercise the Warrant, accompanied by payment of the aggregate Subscription
Price in respect thereof, and shall be effective on the date of its receipt by the Company.

 

		2.2	Shares shall be allotted and issued pursuant to a notice of exercise of the Warrant within 14 days
of the date of exercise and a definitive share certificate issued to the Warrant Holder in respect thereof or, at the Warrant Holder’s
request, the appropriate credit of the Shares made to the Warrant Holder’s stock account in CREST (if the Shares are then
eligible to be settled in CREST). Save for any rights determined by reference to a date preceding the date of allotment, such Shares
shall rank pari passu with the other Shares of the same class in issue at the date of allotment.

 

		2.3	When the Warrant is exercised only in part, the balance of the Warrant not exercised under such
partial exercise shall remain exercisable on the same terms mutatis mutandis as originally applied to the whole of the Warrant.

 

		2.4	The Company shall make application to London Stock Exchange for Shares allotted and issued on exercise
of the Warrant to be admitted to trading on AIM. If Shares are then listed on the Official List of the UK Listing Authority and
traded on the London Stock Exchange’s markets for listed securities, the Company shall as soon as practicable after the allotment
of any Shares pursuant to the exercise of the Warrant apply for the admission of the Shares allotted to the Official List and to
London Stock Exchange’s markets.

 

		2.5	The Company warrants that as at the date of this Agreement it has power to grant the Warrants (including
under its Certificate of Incorporation and Bylaws) without any further sanction or consent by members of the Company or any other
person.

 

    	2

    	 

    
 

		3.	Adjustment of Subscription Rights

 

		3.1	After any allotment of fully paid Shares by way of capitalisation of the Company’s reserves
(other than Shares paid up out of distributable reserves and issued in lieu of a cash dividend) to holders of the Shares on the
register on a date (or by reference to a record date) before the end of the Warrant Period or upon any sub-division or consolidation
of the Shares or reduction of share capital before the end of the Warrant Period, the number and/or nominal value of Shares to
be subscribed on any subsequent exercise of the Warrant will be increased or, as the case may be, reduced in due proportion so
as to maintain the same relative subscription rights for the Warrant and the Subscription Price will be adjusted accordingly, with
effect from the record date for such capitalisation, sub-division or consolidation. On any such capitalisation, sub-division, consolidation
or reduction of capital the Auditors shall be requested by the Directors to certify the appropriate adjustments and, within 28
days thereafter, notice thereof will be sent to the Warrant Holder.

 

		3.2	If, on a date (or by reference to a record date) before the end of the Warrant Period, the Company
makes any offer or invitation (whether by rights or other issue but not being an offer by the Company to purchase its own shares)
to the holders of the Shares, or any offer or invitation (not being an offer to which Clause 4.2 below applies) is made to all
such holders otherwise than by the Company, then (unless the same offer or invitation is made to the Warrant Holder at the same
time as if the Warrant had been exercised on the day immediately preceding the date, or, as the case may be, the record date of
such offer or invitation) the Subscription Price shall be adjusted in such manner as the Auditors shall certify to be appropriate
so as to maintain the same relative subscription rights for the Warrant. Any such adjustment shall become effective as at the record
date for the offer or invitation. The Company shall give notice to the Warrant Holder within 28 days of any adjustment made pursuant
to this Clause 3.2.

 

		3.3	The determination of the Auditors pursuant to Clauses 3.1 and 3.2 shall, save in the case of manifest
error, be binding on the Warrant Holder.

 

		4.	Other Provisions

 

So long as the Warrant remains
capable of exercise:-

 

		4.1	The Company shall not make any allotment of fully paid Shares by way of capitalisation of profits
or reserves unless at the date of such allotment the Directors have all necessary authority and power to grant the additional subscription
rights to subscribe Shares to which the Warrant Holder will by virtue of Clause 3.1 above be entitled in consequence of such capitalisation.

 

		4.2	If at any time an offer is made to all holders of Shares (or all such holders other than the offeror
and/or any company controlled by the offeror and/or persons acting in concert with the offeror) to acquire the whole or any part
of the issued ordinary share capital of the Company and the Company becomes aware that as a result of such offer the right to cast
a majority of the votes which may ordinarily be cast on a poll at a general meeting of the Company has or will become vested in
the offeror and/or such persons or companies as aforesaid, the Company shall give notice to the Warrant Holder of such vesting
or prospective vesting within 14 days of its becoming so aware, and the Warrant Holder shall be entitled, at any time within the
period of 30 days immediately following the date of such notice, to exercise the Warrant and to the extent that the Warrant
is not exercised within such period it shall cease and determine.

 

    	3

    	 

    

  

		4.3	If an order is made or an effective resolution is passed for winding up the Company (except for
the purpose of reconstruction, amalgamation or unitisation), the Warrant Holder shall (if, in such winding up and on the basis
that all rights to subscribe for shares in the Company then unexercised had been exercised in full and the subscription moneys
therefor had been received in full by the Company, there would be a surplus available for distribution amongst the holders of the
Shares which, on such basis, would exceed in respect of each ordinary share a sum equal to the Subscription Price) be treated as
if immediately before the date of such order or resolution the Warrant had been exercised in full (subject to any adjustment pursuant
to Clause 3 above), and shall accordingly be entitled to receive out of the assets available in the liquidation pari passu
with the holders of the Shares such sum as it would have received had it exercised the Warrant in full and become the holder of
the Shares to which it would have become entitled by virtue of such exercise of the Warrant after deducting a sum per Share equal
to the Subscription Price. Subject to the foregoing the Warrant shall lapse on liquidation of the Company.

 

		4.4	Any report or confirmation made pursuant to this Agreement by the Auditors shall be made by them
as experts and not as arbitrators and any such report or confirmation shall be final and binding on the Company and the Warrant
Holder.

 

		5.	No Obligation to Register Warrant Shares

 

The Company
shall be under no obligation to register the Warrant Shares pursuant to the United States Securities Act of 1933 or any other Federal
or state securities laws.

 

		6.	Assignment

 

Save for an
assignment to any company which is a holding company, subsidiary or associate of the Warrant Holder, the Warrant is personal to
the Warrant Holder and may not be assigned or charged in whole or in part.

 

		7.	Rights as Shareholders

 

The Warrant Holder shall not
be entitled to vote or receive dividends and shall not be deemed a shareholder, nor shall anything contained herein be construed
to confirm upon the Warrant Holder any of the rights of a shareholder of the Company or any right to vote for the election of directors
or upon any matter submitted to the Company’s shareholders at any meeting thereof, or to receive notice of meetings, or to
receive dividends or subscription rights or otherwise until the Warrants shall have been exercised and the Shares purchasable upon
the exercise thereof shall be have become deliverable, as provided herein.

 

    	4

    	 

    

  

		8.	Modification and Waiver

 

This Agreement and any provision
hereof may be amended, changed waived, discharged or terminated only by an instrument in writing signed by both parties.

 

		9.	Notices

 

Any notice given hereunder by
one party to the other shall be in writing addressed to the other party at its registered office for the time being or such other
addresses as each party shall notify to the other party for the purposes of this Clause and shall be delivered by hand or sent
by recorded delivery post. Unless the contrary shall be proved each such notice or communication shall be deemed to have been given
or made and delivered, if by post, 48 hours after posting and, if by delivered by hand, when delivered.

 

		10.	Law

 

This Agreement
shall be governed by and construed in accordance with Swedish law. The parties hereto irrevocably submit to the exclusive jurisdiction
of the Courts of Sweden with respect to any dispute related to this Agreement.

 

AS WITNESS this Agreement has been
duly executed by duly authorised representatives of the parties the day and year first above written.

 

SIGNED by:

 

/s/ Roger G. Branton

 

for and on behalf of

xG TECHNOLOGY, INC.

acting by:-

 

	Director	 	 
	 	 	 
	Director	 	 

 

    	5

    	 

    

  

SIGNED by:

 

/s/ Mats Wennberg

 

for and on behalf of

MATS WENNBERG 

in the presence of:-

 

 

	Witness	/s/ Stefan Landin	 
	Address	Bjorkakrau 14	 
	 	18442 Akersberia	 
	 	Sweden	 
	Occupation	IT Manager	 

 

    	6

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