Document:

Exhibit
10.43

 

AMENDED
AND RESTATED 

EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) effective as of January 30, 2022 (the “Effective
Date”), by and between Wireless Telecom Group, Inc. (together with its successors and assigns, the “Company”),
and Timothy Whelan (“Executive”), amends, restates and replaces that certain Executive Employment Agreement dated
June 30, 2016 and as amended June 5, 2017 between the Company and Executive (“Original Agreement”).

 

R
E C I T A L S

 

WHEREAS,
the Company desires to continue to employ Executive for the period of time and upon the terms and conditions set forth herein;

 

WHEREAS,
the Executive is willing to continue in the employ of the Company for the period of time and upon the terms and conditions set forth
herein; and

 

WHEREAS,
the parties desire to amend certain terms the Original Agreement and such terms have been approved by the Compensation Committee of the
Board of Directors of the Company.

 

NOW,
THEREFORE, in consideration of the foregoing recitals, the mutual covenants and conditions herein, and other good and valuable consideration,
the receipt and adequacy of which is hereby acknowledged, the parties hereby agree as follows:

 

A
G R E E M E N T

 

1.
Employment and Term. The Company hereby agrees to continue to employ Executive and Executive hereby accepts continued employment
by the Company on the terms and conditions hereinafter set forth. Executive’s term of employment by the Company under this Agreement
(the “Term”) shall continue from the Effective Date through December 31, 2023; provided, however, that
the Term shall thereafter be automatically extended for unlimited additional one-year periods unless, at least three months prior to
the then-scheduled date of expiration of the Term, either (a) the Company gives notice to Executive that it is electing not to so extend
the Term or (b) Executive gives notice to the Company that he is electing not to so extend the Term. Notwithstanding the foregoing, the
Term may be earlier terminated in strict accordance with the provisions of Section 5 below, in which event Executive’s employment
with the Company shall expire in accordance therewith.

 

2.
Position, Duties and Responsibilities; Location.

 

2.1
Position and Duties. Executive shall be employed as Chief Executive Officer of the Company. Executive shall have, subject to the
general direction of the Board of Directors of the Company (the “Board”), general overall authority and responsibility
for the day-to-day management of the Company. Executive shall also have such other duties, powers and authority as are commensurate with
his position as Chief Executive Officer of a wireless telecommunications company focused on researching, developing and commercializing
radio frequency based products for the wireless and advanced communications industries, including such other duties and responsibilities
as are reasonably delegated to him from time to time by the Board. Executive shall report to the Board.

 

    	 

     

    

 

2.2
Exclusive Services and Efforts. Executive agrees to devote his efforts, energies and skill to the discharge of the duties and
responsibilities attributable to his position and, except as set forth in this subsection 2.2 with respect to service on a single external
board of directors, agrees to devote substantially all of his professional time and attention exclusively to the business and affairs
of the Company. It is expressly understood and agreed that, during the Term, Executive will not be employed by, render services to, or
represent, any other person, firm or company engaged in a business of a similar nature or in competition with the Company without the
prior written consent of the Company (as used throughout this Agreement, a consent of the Company must be in writing and approved by
a majority of the independent members of the Board). Executive also agrees that he shall not take personal advantage of any business
opportunities which arise during his employment and which may benefit the Company and are within the scope of the Company’s then
business or natural extension thereof without the consent of the Company, provided, that the foregoing does not apply to
future employment opportunities. Notwithstanding the foregoing, Executive shall be entitled to (a) engage in service on the board of
directors of not-for-profit organizations, provided that he has received the prior written approval of the Board, (b) engage in other
charitable activities and community affairs, and (c) manage his personal and family investments and affairs, in each case to the extent
such activities do not, either individually or in the aggregate, materially interfere with the performance of his duties and responsibilities
to the Company. In addition, Executive shall be entitled to continue to serve as a director of Edgewater Technology, Inc., provided that
such corporation does not enter the same or similar business as the Company or the Company enters the same or similar business of Edgewater
Technology, Inc., in which event Executive agrees to promptly resign from the board of directors of Edgewater Technology, Inc. If Executive
is no longer serving as a director of Edgewater Technology, Inc., at the request of Executive, the Board shall evaluate Executive’s
participation in one other board of directors relating to a for-profit organization. If the Board in its sole discretion (it being understood
that Executive shall, at the request of the Board, recuse himself from such Board discussions) determines that Executive’s participation
on such other board of directors will not create a conflict of interest or interfere with Executive’s completion of his duties
hereunder, Executive shall be allowed to serve on such other board of directors. Notwithstanding the foregoing, in the event the Board
in its sole discretion determines that Executive’s service on an external board of directors is a conflict of interest or is interfering
with the provision of his duties hereunder and so notifies Executive, Executive agrees to promptly resign from such board of directors.

 

2.3
Compliance with Company Policies. To the extent not inconsistent with the terms and conditions of this Agreement, Executive shall
be subject to the known and established bylaws, policies, practices, procedures and rules of the Company, including those policies and
procedures specified in the Company’s Employee Handbook.

 

2.4
Location. Executive’s principal office, and principal place of employment, shall be at the Company’s offices in Parsippany,
New Jersey.

 

3.
Compensation.

 

3.1
Base Salary. The Company hereby agrees to continue to pay to Executive an annualized base salary (the “Salary”) payable
in equal installments on the Company’s regularly-scheduled paydays as it is earned, subject to all applicable federal, state and
local income and employment taxes and other required or elected withholdings and deductions, in the amount of Three Hundred Twenty Five
Thousand Dollars ($325,000) per year. Executive’s Salary will be reviewed annually by the compensation committee (the “Compensation
Committee”) of the Board, or the full Board, taking into account the performance of Executive, the performance of the Company and
other information deemed appropriate by the Compensation Committee, and may be adjusted by the Compensation Committee or the Board in
their sole discretion (in which case such new amount shall be the “Salary” hereunder).

 

3.2
Annual Cash Bonus. For the calendar year ending December 31, 2022 and each subsequent calendar year of the Term, Executive shall
be entitled to receive a cash incentive award (the “Annual Cash Bonus”) of up to Two Hundred Fifty Thousand Dollars
($250,000) for meeting the performance targets determined by the Compensation Committee. Within ninety (90) days after the end of the
2022 calendar year and each calendar year thereafter during the Term, the Board shall consult with Executive and shall determine and
approve Executive’s Annual Cash Bonus taking into account the performance targets established for Executive, it being understood
that the Compensation Committee (or the independent members of the Board) shall be entitled to award the Annual Cash Bonus in an amount
greater than $250,000 for performance at greater than target levels. Subject to any valid deferral election by Executive, the applicable
Annual Cash Bonus shall be paid in a cash lump sum as soon as reasonably practicable following the Board’s approval thereof, provided
that Executive remains employed through such date, but in no event later than April 15 of the calendar year following the calendar year
for which the applicable Annual Cash Bonus is being awarded.

 

    	 

     

    

 

3.3
Equity Compensation. In connection with Executive’s agreement for continued employment as Chief Executive Officer of the
Company as contemplated hereby, the Company granted to Executive One Hundred Twenty-Five Thousand (125,000) shares of restricted common
stock, which shall vest annually over a period of two years under the Company’s 2021 Long-Term Incentive Plan. Executive will be
eligible for future grants of long-term incentive and equity compensation awards at the good faith discretion of the Compensation Committee,
based upon the Compensation Committee’s evaluation of his performance, the Company’s performance, and peer company compensation
practices, in accordance with the terms and conditions of any applicable policy of the Company in effect during the Term.

 

4.
Employee Benefits.

 

4.1
Participation in Benefit Plans. During the Term, Executive shall be entitled to participate in such health, group insurance, welfare,
pension, and other employee benefit plans, programs and arrangements as are made generally available from time to time to senior executives
of the Company (which shall include health, life insurance and disability plans), such participation in each case to be on terms and
conditions no less favorable to Executive than to other senior executives of the Company generally.

 

4.2
Vacations; Other. During the Term, Executive shall be entitled to participate in other benefits made available generally to other
senior executives of the Company, such participation to be at levels, and on terms and conditions, that are commensurate with his position
and responsibilities at the Company and that are no less favorable than those applying generally to other senior executives at similar
levels of the Company. Notwithstanding the foregoing, Executive shall be entitled to annual vacation leave at not less than four weeks
and such other time-off in accordance with the Company’s policies.

 

4.3
Reimbursement of Expenses. The Company shall reimburse Executive for all reasonable business and travel expenses, incurred in
the performance of his job duties and the promotion of the Company’s business, promptly upon presentation of appropriate supporting
documentation and otherwise in accordance with the expense reimbursement policy of the Company.

 

5.
Termination.

 

5.1
General. The Company may terminate Executive’s employment for any reason or no reason, and Executive may terminate his employment
for any reason or no reason, in either case subject only to the terms of this Agreement. For purposes of this Agreement, the following
terms have the following meanings:

 

    	 

     

    

 

(a)
“Accrued Obligations” shall mean: (i) Executive’s earned but unpaid Salary through the Termination Date (as
hereinafter defined); (ii) payment of any annual, long-term, or other incentive award with respect to which all required performance
periods have been completed and all required performance and service conditions have been satisfied on or before the Termination Date;
(iii) payment in respect of accrued but unused vacation days in accordance with the Company’s vacation policies; and (iv) any unpaid
expense or other reimbursement due pursuant to Sections 4.2 or 4.3 hereof or otherwise.

 

(b)
“Cause” shall mean (i) the deliberate and continued failure by Executive to devote substantially all of his business
time and reasonable efforts to the performance of Executive’s duties after a demand for substantial performance is delivered to
Executive by the Board which specifically identifies the manner in which Executive has not substantially performed such duties; (ii)
the engaging by Executive in gross misconduct which is injurious to the Company, monetarily or otherwise, including but not limited to,
fraud or embezzlement by Executive; (iii) Executive’s conviction (or entering into a plea bargain admitting guilt) of any felony;
or (iv) Executive’s refusal to follow a lawful directive of the Board.

 

(c)
“Company Arrangement” shall mean any plan, program, agreement, corporate governance document or arrangement of the
Company.

 

(d)
“Disability” shall mean total and permanent disability as defined in the Company’s long-term disability plan.

 

(e)
“Good Reason” shall mean the occurrence of any one of the following events without either (x) Executive’s express
prior written consent or (y) full cure within 30 days after Executive gives written notice to the Company: (i) a reduction, other than
a temporary one, in Executive’s authority, duties, responsibilities, or reporting lines; (ii) a reduction by the Company in Executive’s
Salary, except for (A) across-the-board salary reductions similarly affecting all salaried employees of the Company or (B) across-the-board
salary reductions similarly affecting all senior executive officers of the Company; (iii) the relocation of Executive’s principal
office, or principal place of employment, to a location more than fifty (50) miles from Parsippany, New Jersey; (iv) the Company’s
failure to extend the Term of this Agreement in accordance with Section 1 hereof without Cause; or (v) any other action or inaction constituting
the Company’s material breach of this Agreement, including but not limited to the Company’s failure to make any of the monetary
payments contained herein, provided, however, that no event shall constitute grounds for a Good Reason termination unless Executive terminates
his employment within 90-days after such event occurs.

 

(f)
“Person” shall mean any individual, corporation, partnership, limited liability company, joint venture, trust, estate,
board, committee, agency, body, employee benefit plan, or other person or entity.

 

(g)
“Termination Date” shall mean the date on which Executive’s employment hereunder terminates in accordance with
this Agreement (which, in the case of a notice of non-renewal of the Term in accordance with Section 1 hereof, shall mean the date on
which the Term expires).

 

(h)
“Options” shall mean all outstanding vested stock options held by Executive on the Termination Date.

 

5.2
Termination by the Company without Cause or upon Change of Control or by Executive for Good Reason. In the event that Executive’s
employment is terminated (i) by the Company without Cause, (ii) by the Company upon, or within one year following, a Change of Control
(except with respect to termination for Cause, in which case Section 5.4 shall govern), or (iii) by Executive for Good Reason, the Term
shall expire on the Termination Date and Executive shall be entitled to:

 

    	 

     

    

 

(a)
a cash amount, payable in equal installments (over a period of fifteen (15) months) in accordance with the Company’s regular payroll
policies following his Termination Date, in an amount equal to the sum of (i) severance in the amount of fifteen (15) months’ of
his Salary as in effect immediately prior to the Termination Date and (ii) the Annual Cash Bonus for the applicable calendar year of
his Termination Date;

 

(b)
the post-termination exercise period for all Options shall be extended to the earlier of (i) the first anniversary of the Termination
Date, and (ii) the date of expiration of the respective option, during which post-termination period such Options shall continue to vest
in accordance with their respective terms (to the extent not already fully vested). Except as specifically provided for in this Agreement,
all other terms of the Options shall remain unchanged; and

 

(c)
at the Company’s election either the continuation of benefits, to the extent permissible under applicable employee benefit plans
in which you are a participant, for 15 months after the termination date, or a lump sum payment, in lieu of the continuation of some
or all benefits, in an amount determined by the Board in its discretion.

 

(d)
the Accrued Obligations.

 

5.3
Death and Disability. Executive’s employment shall terminate in the event of his death, and either Executive or the Company
may terminate Executive’s employment in the event of his Disability (provided that no termination of Executive’s employment
hereunder for Disability shall be effective unless the party terminating Executive’s employment first gives at least 15 days’
written notice of such termination to the other party). In the event that Executive’s employment hereunder is terminated due to
his death or Disability, the Term shall expire on the Termination Date and he and/or his estate or beneficiaries (as the case may be)
shall be entitled to (a) a single sum cash amount, payable on the 60th day following the Termination Date, in an amount equal
to a Pro-Rata Annual Cash Bonus, (b) the benefits described in Section 5.2(b) and (c) the Accrued Obligations.

 

5.4
Termination by the Company for Cause or by Executive without Good Reason. In the event that Executive’s employment hereunder
is terminated by Executive without Good Reason or by the Company for Cause, the Term shall expire as of the Termination Date and Executive
shall only be entitled to the Accrued Obligations.

 

5.5
Expiration of the Term. Executive or the Company may elect not to renew or extend the Term in accordance with Section 1 above,
in which case the Termination Date shall be the date the Term expires. In the event of such a termination, Executive shall only be entitled
to the Accrued Obligations.

 

5.6
Change in Control. For purposes of Section 5.2 hereof, “Change in Control” shall mean the first to occur of
any of the following, provided that for any distribution that is subject to Section 409A (as defined in Section 6.2 below), a Change
in Control under this Agreement shall be deemed to occur only if such event also satisfies the requirements under Treas. Regs. Section
1.409A-(i)(5):

 

    	 

     

    

 

(i)
the determination by a vote of a majority of the members of the Board (which may be made effective as of a particular date), that a Change
in Control has occurred, or is about to occur;

 

(ii)
any person becomes the beneficial owner, directly or indirectly, of securities of the Company representing more than fifty percent (50%)
of the combined voting power of the Company’s then outstanding securities (a “Majority of the Securities”);

 

(iii)
(A) the stockholders of the Company approve a plan of complete liquidation of the Company; (B) the sale or disposition of all or substantially
all of the Company’s assets; or (C) a merger, consolidation or reorganization of the Company with or involving any other entity,
other than (i) a merger, consolidation or reorganization that would result in the voting securities of the Company outstanding immediately
prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving
entity) at least a Majority of the Securities of the Company (or such surviving entity) outstanding immediately after such merger, consolidation
or reorganization owned in approximately the same proportion of such ownership by each of the prior shareholders as prior to the transaction;
or (ii) a merger, consolidation or reorganization that would result in the voting securities of the Company outstanding immediately prior
thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity)
at least a Majority of the Securities of the Company (or such surviving entity) outstanding immediately after such merger, consolidation
or reorganization owned in approximately the same proportion of such ownership by each of the prior shareholders as prior to the transaction
except for the fact that one of the shareholders owning more than 5% of the Company’s outstanding common stock as of the effective
date of this Agreement increases its percentage of ownership by no more than 20% and to no greater than 49.99% immediately after the
merger, consolidation or reorganization and the percentage ownership of the other shareholders are reduced proportionally; or

 

(iv)
the date a majority of the members of the Board are replaced during any 12-month period by directors whose appointment or election are
not endorsed by a majority of the members of the Board before the date of the appointment or election.

 

Notwithstanding
the foregoing, in no event shall a restructuring, reorganization, merger or other change in capitalization in which the persons who own
an interest in the Company on the date hereof (the “Current Owners”) (or any individual or entity which receives from a Current
Owner an interest in the Company through will or the laws of descent and distribution) maintain more than a fifty-percent (50%) interest
in the resultant entity owned in approximately the same proportion of such ownership by each of the Current Owners as before the transaction,
be deemed a Change in Control.

 

5.7
Release. Executive’s entitlement to the payments described in this Section 5 (it being understood that Executive shall be
entitled to all such payments in accordance with the terms hereof) is expressly contingent upon Executive first providing the Company
with a signed general release in substantially the form attached hereto as Exhibit A (the “Release”) and not
revoking such release for a period of seven days after its execution or thereafter and is also contingent upon Executive’s continued
compliance with the Non-Compete Agreement (defined in Section 7 below). In order to be effective, such Release must be (a) executed and
delivered by Executive to the Company no later than forty-five (45) days following the Termination Date and (b) counter-signed and returned
by the Company to Executive within ten (10) business days following the Company’s receipt thereof; provided, however,
that if Executive delivers the executed Release to the Company on a timely basis and the Company does not return a counter-signed Release
during the applicable time period allowed, such Release of Executive shall be null and void and the payments hereunder shall cease to
be contingent on the Release and this Section 5.7.

 

6.
Other Tax Matters.

 

6.1
The Company shall withhold all applicable federal, state and local taxes, workers’ compensation contributions and other amounts
as may be required by law with respect to compensation payable to Executive pursuant to this Agreement.

 

    	 

     

    

 

6.2
Notwithstanding anything herein to the contrary, this Agreement is intended to be interpreted and applied so that the payment of the
benefits set forth herein shall either be exempt from the requirements of Section 409A of the Code (“Section 409A”)
or shall comply with the requirements of such provision. Notwithstanding any provision of this Agreement to the contrary, if Executive
is a “specified employee” (within the meaning of Section 409A), any payments or arrangements due upon a termination of Executive’s
employment under any arrangement that constitutes a “nonqualified deferral of compensation” (within the meaning of Section
409A) and which do not otherwise qualify under the exemptions under Treas. Regs. Section 1.409A-1 (including without limitation, the
short-term deferral exemption or the permitted payments under Treas. Regs. Section 1.409A-1(b)(9)(iii)(A)), shall be delayed and paid
or provided on the earlier of (i) the date which is six months after Executive’s “separation from service” (as such
term is defined in Section 409A and the regulations and other published guidance thereunder) for any reason other than death, and (ii)
the date of Executive’s death.

 

6.3
After any Termination Date, Executive shall have no duties or responsibilities that are inconsistent with having a “separation
from service” (within the meaning of Section 409A) as of the Termination Date and, notwithstanding anything in the Agreement to
the contrary, distributions upon termination of employment of nonqualified deferred compensation may only be made upon a “separation
from service” (as determined under Section 409A) and such date shall be the Termination Date for purposes of this Agreement. Each
payment under this Agreement or otherwise shall be treated as a separate payment for purposes of Section 409A. In no event may Executive,
directly or indirectly, designate the calendar year of any payment to be made under this Agreement which constitutes a “nonqualified
deferral of compensation” (within the meaning of Section 409A) and to the extent an amount is payable within a time period, the
time during which such amount is paid shall be in the discretion of the Company.

 

6.4
Any amounts otherwise payable to Executive following a termination of employment that are not so paid by reason of this Section 6 shall
be paid as soon as practicable following, and in any event within thirty (30) days following, the date that is six (6) months after Executive’s
separation from service (or, if earlier, the date of Executive’s death) together with interest on the delayed payment at the Company’s
cost of borrowing. All reimbursements and in-kind benefits provided under this Agreement shall be made or provided in accordance with
the requirements of Section 409A.

 

6.5
To the extent that any reimbursements pursuant to Section 4 or otherwise are taxable to Executive, any reimbursement payment due to Executive
pursuant to such Section shall be paid to Executive on or before the last day of Executive’s taxable year following the taxable
year in which the related expense was incurred. The reimbursements pursuant to Section 4 or otherwise are not subject to liquidation
or exchange for another benefit and the amount of such reimbursements that Executive receives in one taxable year shall not affect the
amount of such reimbursements that Executive receives in any other taxable year.

 

7.
Confidentiality, Invention Assignment and Non-Competition Agreement. Executive agrees to be bound by the terms of the Noncompetition
and Confidentiality Agreement, dated as of June 30, 2016 by and between Executive and the Company (the “Non-Compete Agreement”).
Except as expressly set forth in this Agreement and the Non-Compete Agreement, Executive shall be subject to no contractual or similar
restrictions on his right to terminate his employment hereunder or on his activities after the Termination Date.

 

8.
Non-Disparagement. During and after the Term, Executive and the Company agree not to make any statement that criticizes, ridicules,
disparages, or is otherwise derogatory of the other; provided, however, that nothing in this Agreement shall restrict either party from
making truthful statements (a) when required by law, subpoena, court order or the like; (b) when requested by a governmental, regulatory,
or similar body or entity; (c) in confidence to a professional advisor for the purpose of securing professional advice; (d) in the course
of performing his or its duties during the Term; or (e) to rebut any statement made or written about him or it. In addition, nothing
in this section shall prohibit either party from making normal competitive statements about the Company’s business or products
provided such statements are truthful.

 

    	 

     

    

 

9.
Notices. Except as otherwise specifically provided herein, any notice, consent, demand or other communication to be given under
or in connection with this Agreement shall be in writing and shall be deemed duly given when delivered personally, when transmitted by
facsimile transmission, one (1) day after being deposited with Federal Express or other nationally recognized overnight delivery service
or three (3) days after being mailed by first class mail, charges or postage prepaid, properly addressed, if to the Company, at its principal
office, and, if to Executive, at his address set forth following his signature below. Either party may change such address from time
to time by notice to the other.

 

10.
Governing Law. This Agreement shall be governed by and construed and interpreted in accordance with the laws of the State of New
Jersey, exclusive of any choice of law rules.

 

11.
Arbitration; Legal Fees.

 

11.1
Any dispute or controversy arising under or in connection with this Agreement (except with respect to injunctive relief under Section
10 of the Non-Compete Agreement) shall be settled exclusively by arbitration in New Jersey, in accordance with the rules of the American
Arbitration Association for employment disputes as then in effect. Judgment may be entered on the arbitrator’s award in any court
having jurisdiction.

 

11.2
In the event of any material contest or dispute relating to this Agreement or the termination of Executive’s employment hereunder,
each of the parties shall bear its own costs and expenses, except that the Company agrees to promptly reimburse Executive for his costs
and expenses (including reasonable attorneys’ fees and expenses) incurred by Executive in connection with such contest or dispute
in the event Executive prevails, as determined by the arbitrator if in arbitration, by the court if pursuant to Section 10 of the Non-Compete
Agreement, or as a separate arbitration if otherwise. The amount shall be paid within thirty (30) days of the award of the arbitration
or court, which shall also specify the amount due.

 

12.
Amendments; Waivers. This Agreement may not be modified or amended or terminated except by an instrument in writing, signed by
Executive and a duly-authorized officer of the Company (other than Executive). By an instrument in writing similarly executed, either
party may waive compliance by the other party with any provision of this Agreement that such other party was or is obligated to comply
with or perform; provided, however, that such waiver shall not operate as a waiver of, or estoppel with respect to, any
other or subsequent failure. No failure to exercise and no delay in exercising any right, remedy, or power hereunder shall operate as
a waiver thereof, nor shall any single or partial exercise of any right, remedy, or power hereunder preclude any other or further exercise
thereof or the exercise of any other right, remedy, or power provided herein or by law or in equity. To be effective, any written waiver
must specifically refer to the condition(s) or provision(s) of this Agreement being waived.

 

13.
Inconsistencies. In the event of any inconsistency between any provision of this Agreement and any provision of any Company arrangement,
the provisions of this Agreement shall control, unless Executive and the Company otherwise agree in a writing that expressly refers to
the provision of this Agreement that is being waived.

 

14.
Assignment. Except as otherwise specifically provided herein, neither party shall assign or transfer this Agreement nor any rights
hereunder without the consent of the other party, and any attempted or purported assignment without such consent shall be void; provided,
however, that any assignment or transfer pursuant to a merger or consolidation, or the sale or liquidation of all or substantially
all of the business and assets of the Company shall be valid, so long as the assignee or transferee (a) is the successor to all or substantially
all of the business and assets of the Company and (b) assumes the liabilities, obligations and duties of the Company, as contained in
this Agreement, either contractually or as a matter of law. Executive’s consent shall not be required for any such transaction.
This Agreement shall otherwise bind and inure to the benefit of the parties hereto and their respective successors, penalties, assigns,
heirs, legatees, devisees, executors, administrators and legal representatives.

 

    	 

     

    

 

15.
Voluntary Execution; Representations. Executive acknowledges that (a) he has consulted with or has had the opportunity to consult
with independent counsel of his own choosing concerning this Agreement and has been advised to do so by the Company and (b) he has read
and understands this Agreement, is competent and of sound mind to execute this Agreement, is fully aware of the legal effect of this
Agreement, and has entered into it freely based on his own judgment and without duress. Executive represents and covenants that his employment
hereunder and compliance with the terms and conditions hereof will not conflict with or result in the breach by him of any agreement
to which he is a party or by which he may be bound and in connection with his employment with the Company he will not engage in any unauthorized
use of any confidential or proprietary information he may have obtained in connection with his employment with any other employer. The
Company represents and warrants that it is fully authorized, by any person or body whose authorization is required, to enter into this
Agreement and to perform its obligations under it.

 

16.
Headings. The headings of the Sections and sub-sections contained in this Agreement are for convenience only and shall not be
deemed to control or affect the meaning or construction of any provision of this Agreement.

 

17.
Beneficiaries/References. Executive shall be entitled, to the extent permitted under applicable law, to select and change a beneficiary
or beneficiaries to receive any compensation or benefit hereunder following Executive’s death by giving written notice thereof.
In the event of Executive’s death or a judicial determination of his incompetence, references in this Agreement to Executive shall
be deemed, where appropriate, to refer to his beneficiary, estate or other legal representative.

 

18.
Survivorship. Except as otherwise set forth in this Agreement, the respective rights and obligations of the parties shall survive
any termination of Executive’s employment.

 

19.
Severability. Whenever possible, each provision or portion of any provision of this Agreement will be interpreted in such manner
as to be effective and valid under applicable law but the invalidity or unenforceability of any provision or portion of any provision
of this Agreement in any jurisdiction shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction
or the validity or enforceability of this Agreement, including that provision or portion of any provision, in any other jurisdiction.

 

20.
No Mitigation/No Offset. Executive shall be under no obligation to seek other employment or to otherwise mitigate the obligations
of the Company under this Agreement, and there shall be no offset against amounts or benefits due to Executive under this Agreement or
otherwise on account of any claim (other than any preexisting debts then due in accordance with their terms) the Company may have against
him or any remuneration or other benefit earned or received by Executive after such termination.

 

21.
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all
such counterparts shall together constitute one and the same instrument. Signatures delivered by facsimile or e-mail (as a .pdf, .tif
or similar un-editable attachment) shall be effective for all purposes.

 

22.
Entire Agreement. This Agreement, the Non-Compete Agreement, the equity compensation grant agreements required in relation to
the grants described in Section 3.3 above, and the agreements described in the attached Exhibits contain the entire agreement of the
parties and supersedes all prior or contemporaneous negotiations, correspondence, understandings and agreements between the parties,
regarding the subject matter of this Agreement.

 

[Signature
Page to Follow]

 

    	 

     

    

 

IN
WITNESS WHEREOF, this Agreement has been duly executed by or on behalf of the parties hereto as of the date first above written.

 

	WIRELESS
    TELECOM GROUP, INC.	 	 
	 	 	 
	 	By:
    	/s/
    Mike Millegan
	 	Name:	Mike
    Millegan
	 	Title:	Chairman
    of the Compensation Committee

 

	EXECUTIVE:	 	 
	 	 	 
		 	/s/
    Timothy Whelan
	 	Name:	Timothy
    Whelan
	 	Address:
    	 
	 	 	 

 

    	 

     

    

 

Exhibit
A

FORM
OF GENERAL RELEASE OF ALL CLAIMS

 

THIS
GENERAL RELEASE OF ALL CLAIMS (this “General Release”), dated as of [_______________________], is made by and
between Timothy Whelan (the “Executive”) and Wireless Telecom Group, Inc. (the “Company”).

 

WHEREAS,
the Company and Executive are parties to that certain Employment Agreement, dated as of June 30, 2016 (the “Employment Agreement”);

 

WHEREAS,
Executive’s employment with the Company has been terminated and Executive is entitled to receive severance and other benefits,
as set forth in Section 5 of the Employment Agreement subject to the execution of this General Release;

 

WHEREAS,
in consideration for Executive’s signing of this General Release, the Company will provide Executive with such severance and benefits
pursuant to the Employment Agreement; and

 

WHEREAS,
except as otherwise expressly set forth herein, the parties hereto intend that this General Release shall effect a full satisfaction
and release of the obligations described herein owed to Executive by the Company and to the Company by Executive.

 

NOW,
THEREFORE, in consideration of the premises, the mutual covenants of the parties hereinafter set forth and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby covenant and agree as follows:

 

1.
Executive, for himself, Executive’s spouse, heirs,
administrators, children, representatives, executors, successors, assigns, and all other individuals and entities claiming through Executive,
if any (collectively, the “Executive Releasers”), does hereby release, waive, and forever discharge the Company and
each of its respective agents, subsidiaries, parents, affiliates, related organizations, employees, officers, directors, attorneys, successors,
and assigns in their capacities as such (collectively, the “Employer Releasees”) from, and does fully waive any obligations
of Employer Releasees to Executive Releasers for, any and all liability, actions, charges, causes of action, demands, damages, or claims
for relief, remuneration, sums of money, accounts or expenses (including attorneys’ fees and costs) of any kind whatsoever, whether
known or unknown or contingent or absolute, which heretofore has been or which hereafter may be suffered or sustained, directly or indirectly,
by Executive Releasers in consequence of, arising out of, or in any way relating to: (a) Executive’s employment with the Company;
(b) the termination of Executive’s employment with the Company; (c) the Employment Agreement; or (d) any events occurring on or
prior to the date of this General Release. The foregoing release and discharge, waiver and covenant not to sue includes, but is not limited
to, all waivable claims and any obligations or causes of action arising from such claims, under common law including wrongful or retaliatory
discharge, breach of contract (including but not limited to any claims under the Employment Agreement other than claims for unpaid severance
benefits, bonus or Base Salary earned thereunder) and any action arising in tort including libel, slander, defamation or intentional
infliction of emotional distress, and claims under any federal, state or local statutes, including but not limited to, claims under,
inter alia, the Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. 1001, et seq. (“ERISA”), the Consolidated
Omnibus Budget Reconciliation Act, 29 U.S.C. §§ 1161 et seq (“COBRA”), the New Jersey Discrimination in Wages Law,
N.J.S.A. 34:11-56.1, et seq.; the New Jersey Wage Payment Law, N.J.S.A. 34:11-4.1, et seq.; the New Jersey Wage and Hour Law, N.J.S.A.
34:11-56a, et seq.; any claims under the Family Medical Leave Act, 29 U.S.C. 2601 et. seq.; the New Jersey Temporary Disability Benefits
Law, N.J.S.A. 43:21-25, et seq., as amended by the New Jersey Paid Family Leave Act; the New Jersey Family Leave Act, N.J.S.A. 34:11B-1,
et seq.; the Fair Credit Reporting Act, 15 U.S.C. 1681, et seq., the New Jersey Fair Credit Reporting Act, N.J.S.A. 51:11-28, et seq.;
any claims of harassment, discrimination or retaliation in employment based upon, inter alia, race, color, ethnicity, national origin,
sexual orientation, ancestry, religion, marital status, age, gender, citizenship status, handicap, medical or genetic condition or disability,
union affiliation or engaging in whistleblowing or other protected activity under, inter alia, Title VII of the Civil Rights Act of 1964,
42 U.S.C. 2000(e), et seq. (“Title VII”), the Americans With Disabilities Act, 42 U.S.C. §12101, et seq. (“ADA”),
the Civil Rights Act of 1991, 42 U.S.C. §§ 1981, 1983, 1985, 1986 and 1988, the Age Discrimination in Employment Act, 29 U.S.C.
§ 621, et seq. (“ADEA”), the Sarbanes-Oxley Act of 2002, 15 U.S.C. §§ 7201 et. seq., the National Labor Relations
Act, 29 U.S.C. §151, et seq. (“NLRA”); the New Jersey Law Against Discrimination, N.J.S.A. 10:5-12, et seq. (“NJLAD”);
the New Jersey Conscientious Employee Protection Act, N.J.S.A. 34:19-1, et seq. (“CEPA”); the New Jersey Millville Dallas
Airmotive Plant Job Loss Notification Act, N.J.S.A.34:21-2 et seq.; the New Jersey Civil Rights Act, N.J.S.A. 10:6-1, et seq.; any claims
for breach of any implied or express contract, breach of the duty of fair representation, breach of promise, misrepresentation, negligence,
fraud, estoppel, defamation, assault, battery, intentional or negligent infliction of emotional distress, violation of public policy,
wrongful or constructive discharge, or any other tort or claim of any nature, including but not limited to claims arising under the Labor
Management Relations Act, 29 U.S.C. §185 et seq. (“LMRA”); and any and all other claims for costs, fees, or other expenses,
specifically including but not limited to any and all claims for attorney’s fees, costs, expenses and expert fees; and any claims
under the United States or New Jersey Constitutions. This also includes a release of any claims for wrongful discharge and all claims
for alleged physical or personal injury, emotional distress relating to or arising out of Executive’s employment with the Company
or any of its subsidiaries or affiliates or the termination of that employment; and any claims under the WARN Act or any similar law,
which requires, among other things, that advance notice be given of certain work force reductions. Notwithstanding anything contained
in this Section 1 above to the contrary, nothing contained herein shall constitute a release by any Executive Releaser of any
of his, her or its rights or remedies available to him, her or it, at law or in equity, related to, on account of, in connection with
or in any way pertaining to the enforcement of: (i) any rights to the receipt of employee benefits which vested on or prior to the date
of this General Release; (ii) the right to receive severance and other benefits under the Employment Agreement; (iii) the right to continuation
coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act; (iv) any rights of Executive under the Employment Agreement
with respect to (A) the gross-up protections set forth in Section 7 of the Employment Agreement, and (B) any equity rights; or (v) this
General Release or any of its terms or conditions.

 

    	 

     

    

 

2.
Excluded from this General Release and waiver are any
claims which cannot be waived by applicable law, including but not limited to the right to participate in an investigation conducted
by certain government agencies. Executive does, however, waive Executive’s right to any monetary recovery should any government
agency (such as the Equal Employment Opportunity Commission) pursue any claims on Executive’s behalf. Executive represents and
warrants that Executive has not filed any complaint, charge, or lawsuit against the Employer Releasees with any government agency or
any court.

 

3.
Executive agrees never to seek personal recovery from
any Employer Releasee in any forum for any claim covered by the above waiver and release language, except that Executive may bring a
claim under the ADEA to challenge whether this General Release was a knowing and voluntary release of an age discrimination claim thereunder.
If Executive violates this General Release by suing an Employer Releasee (excluding any claim by Executive under the ADEA or as otherwise
set forth in Section 1 hereof), then Executive shall be liable to the Employer Releasee so sued for such Employer Releasee’s
reasonable attorneys’ fees and other litigation costs incurred in defending against such a suit. Nothing in this General Release
is intended to reflect any party’s belief that Executive’s waiver of claims under ADEA is invalid or unenforceable, it being
the intent of the parties that such claims are waived.

 

4.
Each party agrees that neither this General Release,
nor the furnishing of the consideration for this General Release, shall be deemed or construed at any time to be an admission by any
party of any improper or unlawful conduct.

 

5.
Each party acknowledges and recites that he or it has:

 

(a)
executed this General Release knowingly and voluntarily;

 

(b)
had a reasonable opportunity to consider this General Release;

 

(c)
read and understands this General Release in its entirety;

 

(d)
been advised and directed orally and in writing (and this subparagraph (d) constitutes such written direction) to seek legal counsel
and any other advice such party wishes with respect to the terms of this General Release before executing it; and

 

(e)
relied solely on such party’s own judgment, belief and knowledge, and such advice as such party may have received from such party’s
legal counsel.

 

6.
Section 11 of the Employment Agreement, which shall
survive the expiration of the Employment Agreement for this purpose, shall apply to any dispute with regard to this release.

 

7.
Executive acknowledges and agrees that (a) his execution
of this General Release has not been forced by any employee or agent of the Company, and Executive has had an opportunity to negotiate
the terms of this General Release and (b) he has been offered twenty-one (21) calendar days after receipt of this General Release to
consider its terms before executing it.1 Executive shall have seven (7) calendar days from the date he executes this General
Release to revoke his or her waiver of any ADEA claims by providing written notice of the revocation to the Company, as provided in Section
11 of the Employment Agreement. 

 

 

1
                                            In the event the Company determines that Employee’s
                                            termination constitutes “an exit incentive or other employment termination program
                                            offered to a group or class of employees” under the ADEA, the Company will provide
                                            Employee with: (1) forty-five (45) days to consider the General Release; and (2) the disclosure
                                            schedules required for an effective release under the ADEA.

 

    	 

     

    

 

8.
Capitalized terms used but not defined in this General
Release have the meanings ascribed to such terms in the Employment Agreement.

 

9.
This General Release may be executed by the parties
in one or more counterparts, each of which shall be an original and all of which shall together constitute one and the same instrument.
Each counterpart may be delivered by facsimile transmission or e-mail (as a .pdf, .tif or similar un-editable attachment), which transmission
shall be deemed delivery of an originally executed counterpart hereof.

 

IN
WITNESS WHEREOF, the parties hereto have executed this General Release as of the day and year first above written.

 

 

	WIRELESS
    TELECOM GROUP, INC.:	 	 
	 	 	 
	 	By:	 
	 	Name:	Alan
    Bazaar
	 	Title:	Chairman
    of the Board

 

 

	EXECUTIVE:	 	 
	 	 	 
	 	 	 
	 	Name:	Timothy
    WhelanExhibit
10.44

 

		25
    Eastmans Road

    Parsippany,
    NJ 07054 USA

 

January
31, 2022

 

Mike
Kandell

 

Dear
Mike:

 

By
this letter, the Compensation Committee of Wireless Telecom Group, Inc. (the “Company”) has approved the proposed amended
certain terms of your employment arrangement from that certain employment offer letter agreement executed by the Company and yourself
dated December 1, 2016 (the “Letter Agreement”). This letter is intended to amend and partially supersede the Letter Agreement.
To the extent that any term is not addressed in this amended letter, the terms of the Letter Agreement shall control. If you agree to
the terms of this amendment to the Letter Agreement, please sign where indicated below.

 

Compensation

 

Effective
January 1, 2022, your salary shall increase to the rate of Two Hundred Sixty Thousand Dollars ($260,000) per year, which is subject to
all required withholdings and deductions, and is payable in accordance with the Company’s normal payroll practices. In addition
to an increase in your salary, your target bonus amount will increase to One Hundred Fifty Thousand Dollars ($150,000) for 2022.

 

Equity
Award

 

The
Compensation Committee has also granted you 75,000 shares of restricted stock, which shall vest in equal annual installments over a period
of two years under the Company’s 2021 Long-Term Incentive Plan.

 

Severance

 

The
severance terms contained in the Letter Agreement are amended as follows:

 

If
your employment is terminated by the Company for a reason other than death, Disability or Cause, or you resign for Good Reason by the
Company for a reason other than death, Disability or Cause (as defined in the Company’s 2021 Long-Term Incentive Plan), then, subject
to signing and not revoking a general release in a form acceptable to the Company, you will be paid: (i) severance in an amount equal
to the sum of twelve (12) months of your salary as in effect immediately prior to the date of termination, which is payable in equal
installments over a period of twelve (12) months, and (ii) cash in an amount equal to 100% of your annual cash incentive award opportunity
for the applicable year (the “Cash Bonus”); and (iii) at the Company’s election either the continuation of benefits,
to the extent permissible under applicable employee benefit plans in which you are a participant, for 12 months after the termination
date, or a lump sum payment, in lieu of the continuation of some or all benefits, in an amount determined by the Board in its discretion.
Provided that you have timely executed and not revoked the general release, severance payments will be made on the Company’s regular
payroll dates beginning on the first payroll date that is at least sixty days after the termination date (subject to any deferral requirements
of Internal Revenue Code Section 409A), and the first payment will include all installments for the period from the termination date
through such first payroll date.

 

	www.wtcom.com

    
	Wireless
    Telecom Group, Inc., is comprised of Boonton,

    CommAgility,
    Holzworth, Microlab, and Noisecom.
	+1
    973-386-9696

 

    	 

    	 

    

 

		25
    Eastmans Road

    Parsippany,
    NJ 07054 USA

 

No
Other Changes

 

The
intent of this letter is to amend only those provisions of the Letter Agreement as herein specified. Except for the Letter Agreement
(to the extent that the terms of the Letter Agreement are not superseded by this amended letter), and the Company’s general employment
policies, there are no agreements or understandings, written or oral, which in any way change the terms, covenants, or conditions set
forth herein. No modification or amendment of any of the provisions of this amended letter shall be effective unless made in a writing
that specifically references this amended letter. All other existing terms and conditions of the Letter Agreement shall remain in full
force and effect.

 

Sincerely,

 

	/s/
  Timothy Whelan	
	Timothy
Whelan	 
	Chief
Executive Officer	 

 

Acknowledged
and Agreed: 

 

I
hereby acknowledge that I have read and understand the terms stated above, that I have had ample opportunity to consider the terms, and
that, by my signature below, I voluntarily agree to and accept the terms as stated:

 

	/s/
    Michael Kandell	 
	Mike
    Kandell	 

 

	www.wtcom.com

    
	Wireless
    Telecom Group, Inc., is comprised of Boonton,

    CommAgility,
    Holzworth, Microlab, and Noisecom.
	+1
    973-386-9696

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}]]