Document:

QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 4.26    
    

PRIVATE &
CONFIDENTIAL

Delivered in person 

March 2nd,
2005 

Pierre
St-Arnaud

President & Chief Executive Officer

SR Telecom Inc. 

Dear
Pierre: 

As
you are aware, SR Telecom Inc. is currently going through a very challenging time, given the need to refinance and reorganize its Business structure. We recognize that this is a very
difficult period and appreciate the on-going commitment and contribution of all SR Telecom's employees. 

However,
we must secure our future Business activities going forward and protect our capability to serve our customers in the manner we wish to as we finally go on with our Business. As such, the
Board of Directors of SR Telecom Inc. has agreed to implement a retention bonus plan for a group of employees which will ensure that we secure our core expertise and key know-how
during that period. As the President and Chief Executive Officer of the Company, the Board has agreed to provide you with a retention premium for a period of ten (10) weeks commencing Monday,
February 28, 2005. In your case, this premium will be defined as the full repayment (principal amount plus outstanding interests up to today) on the loan you have entered into on
July 3rd 2001 for $70,000 and the loan entered into on June 13, 2002 for $34,000. (copy attached). 

The
condition for you to obtain the written confirmation that those two loans are fully paid back is that you maintain your active employee status and fulfil your responsibilities as the President and
CEO of SR Telecom Inc. Consequently, should
you leave the Company on you own will, between now and May 6th, 2005, you will have to reimburse the two loans plus interests according to the agreements signed at the time you
entered into those loans. 

Please note that, the information contained in this letter is specific to yourself and you are required to maintain its receipt and contents in the strictest
confidentiality.

To
conclude, we trust that this special program 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 support during this period of transition and challenges. 

Regards,

	/s/ LIONEL HURTUBISE
 Lionel Hurtubise	 	 
	Chairman of the Board of Directors

SR Telecom Inc.

QuickLinks

Exhibit 4.26QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 4.27    
    

PRIVATE &
CONFIDENTIAL

Delivered in person 

March 2nd,
2005 

David
L. Adams

Senior Vice President Finance & Chief Financial Officer

SR Telecom Inc. 

Dear
David: 

As
you are aware, SR Telecom Inc. is currently going through a very challenging time, given the need to refinance and reorganize its Business structure. We recognize that this is a very
difficult period and appreciate the on-going commitment and contribution of all SR Telecom's employees. 

However,
we must secure our future Business activities going forward and protect our capability to serve our customers in the manner we wish to as we finally go on with our Business. As such, the
Board of Directors of SR Telecom Inc. has agreed to implement a retention bonus plan for a group of employees which will ensure that we secure our core expertise and key know-how
during that period. As the Senior Vice President Finance and CFO of the Company, the Board has agreed to provide you with a retention premium for a period of ten (10) weeks commencing Monday,
February 28, 2005. In your case, this premium will be defined as the full repayment (principal amount plus outstanding interests up to today) on the loan you have entered into on
July 3rd 2001 for $58,000 (copy attached). 

The
condition for you to obtain the written confirmation that this loan is fully paid back is that you maintain your active employee status and fulfil your responsibilities as the Senior Vice
President Finance and CFO of SR Telecom Inc.
Consequently, should you leave the Company on your own will, between now and May 6th, 2005, you will have to reimburse the loan according to the agreement signed at the time you
entered into that loan. 

Please note that, the information contained in this letter is specific to yourself and you are required to maintain its receipt and contents in the strictest
confidentiality.

To
conclude, we trust that this special program 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 support during this period of transition and challenges. 

Regards,

	/s/ LIONEL HURTUBISE
 Lionel Hurtubise	 	 
	Chairman of the Board of Directors

SR Telecom Inc.

QuickLinks

Exhibit 4.27QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 4.28    
    

PRIVATE &
CONFIDENTIAL

Delivered in person 

February 28,
2005 

TO:
Benoit Pinsonnault

SR Vice President Operations

SR Telecom Inc. 

Dear
Benoît: 

As
you are aware, SR Telecom Inc. is currently going through a very challenging time, given the need to refinance and reorganize its Business structure. We recognize that this is a very
difficult period and appreciate the on-going commitment and contribution of all SR Telecom's employees. 

However,
we must secure our future Business activities going forward and protect our capability to serve our customers in the manner we wish to as we finally go on with our Business. As such, we have
identified a group of employees which will ensure that we secure our core expertise and key know-how during that period. You were identified by the Executives of the Company as being part
of that group which we need for our future. As a result, you will be eligible to a retention premium for a period of up to ten (10) weeks commencing Monday, February 28, 2005. This
premium will be paid with normal payroll and will be equivalent to 100% of your regular base salary earned during the corresponding pay-period. The condition for you to obtain such premium
is that you maintain your active employee status and report to work. Consequently, should you take vacation, or be absent from work for any personal reason, you will not be eligible to receive the
incentive for that period. Furthermore, should you resign from the Company between now and May 6th, 2005, you will have to reimburse the total amount received under this special
program. We expect to maintain this retention bonus in force for the period from February 28th to May 6th, 2005. 

This
retention program is available for a limited number of employees, based on various scenarios that will enable us to proceed with our Business over the longer term. It should not be interpreted
differently, and does not presuppose that employees who are not part of this group are not part of our future, or that they are of lower qualification or importance in the Company. This group is
rather a specific group of people that we estimate are critical to rebuild the Business as we come out of this difficult time. 

Please note that, the information contained in this letter is specific to yourself and you are required to maintain its receipt and contents in the strictest
confidentiality.

To
conclude, we trust that this special program 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 support during this period of transition and challenges. 

Regards,

	/s/ PIERRE ST-ARNAUD
 Pierre St-Arnaud	 	 
	President and CEO

SR Telecom Inc.

QuickLinks

Exhibit 4.28QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 4.29    
    

 
 

EXTENSION OF WAIVER TERMINATION DATE    
    

February 14,
2005 

Inter-American
Development Bank

Private Sector Department

1300 New York Avenue, N.W.

Washington, D.C. 20577

Attention: Loan Administration Unit 

Export
Development Canada

151 O'Connor Street

Ottawa, Ontario

Canada

K1A 1K3

Attention: Special Assets Unit 

Ladies
and Gentlemen: 

        Reference
is made to the Eighth Amendment and Limited Term Waiver Agreement dated as of February 13, 2004 (the "Eighth Amendment") between
among SR Telecom Inc., a corporation duly organized and validly existing under the laws of Canada ("SRT"), Comunicación y
Telefonía Rural S.A., a sociedad anónima duly organized and validly existing under the laws of Chile
(the "Borrower"), Export Development Canada (formerly Export Development Corporation), a corporation established by an Act of the Parliament of
Canada ("EDC"), and Inter-American Development Bank, an international organization established by the Articles of Agreement among its member countries
("IDB", together with EDC, the "Senior Lenders"). Capitalized terms used herein and defined in the
Eighth Amendment shall have the same respective meanings herein. 

        Pursuant
to Section 6 of the Eighth Amendment, the Eighth Amendment will expire upon the earliest date of occurrence of any of the events listed therein.
Section 6(a) of the Eighth Amendment lists February 14, 2005 as one such event. In view of the fact that the parties hereto continue to review the terms of documentation related
to a secured debt facility to be entered into by SRT, which transaction will require the consent of the Senior Lenders and the final terms of which are anticipated to materially impact the scope and
terms of such consent, each of the parties hereto agree, subject to the conditions specified in the last paragraph of this letter, that: 

        (1)   Section 6(a) of
the Eighth Amendment is hereby amended in its entirety to read as follows: 

 

        "(a) March 31,
2005;"; 

        (2)   Section 6(h) of
the Eighth Amendment is hereby amended in its entirety to read as follows: 

        "(h) the
date that (i) any secured creditor of the Borrower or SRT initiates steps to, or notifies the Borrower or SRT of its intent to, foreclose on any assets of
the Borrower or SRT, with respect to which such creditor holds a Lien or (ii) the Senior Lenders shall have provided written notice to the Borrower following the initiation by any creditor of
SRT of a suit or proceeding against SRT for the payment of an amount in excess of US$50,000 or initiates an action or proceeding to, or does, obtain an attachment or lien on any asset of SRT either
having a value in excess of US$50,000 or in order to provide payment for an obligation of SRT in excess of US$50,000;"; 

        (3)   Section 6(i) of
the Eighth Amendment is hereby amended by deleting the "." and at the end of such section and inserting ";" in place thereof; 

        (4)   Section 6
of the Eighth Amendment is hereby amended by inserting the following subsections after Section 6(i): 

        "(j)  the
date that the Senior Lenders shall have provided written notice to SRT following: (i) the inclusion in the opinion of independent certified public
accountants accompanying SRT's 2004 annual financial statements of a qualification, assumption or exception regarding SRT's status or prospects as a "going concern" (or other statement to
similar effect) or (ii) the failure of SRT to provide the Senior Lenders, on or prior to April 1, 2005, SRT's 2004 annual financial statements including an opinion of independent
certified public accountants thereon; 

        (k)   the
date that the Senior Lenders shall have provided written notice to the Borrower following the failure of the Borrower or SRT to provide to, or as directed by, IDB
funds in the amount of US$45,000 for all reasonable out-of-pocket costs and expenses of the Senior Lenders (including, without limitation, the reasonable fees and expenses of
legal counsels and consultants to the Senior Lenders) on or prior to February 18, 2005; and 

        (l)    the
date that the Senior Lenders shall have provided written notice to the Borrower following a breach of Section 8.21 of the Common Agreement."; 

        (5)   Section 10(k)(vii)
of the Eighth Amendment is hereby amended by deleting the "." and at the end of such section and inserting "; and" in place thereof; and 

        (6)   Section 10
of the Eighth Amendment is hereby amended by inserting the following subsection after Section 10(k): 

2

 

        "(l) the
Borrower or SRT, as the case may be, shall provide the Senior Lenders with evidence of all Subordinated Indebtedness other than Subordinated Indebtedness evidenced by the
documentation described in clause (f) above.". 

        Each
of SRT and the Borrower covenants and agrees that the Transaction Documents and the provisions thereof are and remain legal, valid and binding obligations of each of SRT and the
Borrower enforceable in accordance with their terms, and remain in full force and effect except as amended or modified hereby, and each of SRT and the Borrower hereby reaffirms, reconfirms and
restates, all such obligations, as so modified, to the Senior Lenders. Each of SRT and the Borrower hereby expressly acknowledges and agrees that nothing in this letter or in any document or
instrument executed in connection with or pursuant to this letter shall constitute a satisfaction as to all or any portion of the Obligations. 

3

        The
amendments provided in this letter shall become effective on the date on which each of the Senior Lenders shall have received an executed a counterpart of this letter from each other
Senior Lender, the Borrower and SRT. 

	 	 	 	 	Very truly yours,
	

 	
 	

 	
 	

SR TELECOM INC.
	

 	
 	

 	
 	

By	
 	

/s/ DAVID ADAMS
 Name: David L. Adams

Title: S.r. VP Finance and CFO
	

 	
 	

 	
 	

By	
 	

/s/ PIERRE ST-ARNAUD
 Name: Pierre St-Arnaud

Title: President and CEO
	

 	
 	

 	
 	

COMUNICACIÓN Y TELEFONÍA RURAL S.A.
	

 	
 	

 	
 	

By	
 	

/s/ DAVID ADAMS
 Name: David L. Adams

Title: Director
	

ACKNOWLEDGED, ACCEPTED AND AGREED
	

EXPORT DEVELOPMENT CANADA
	

By	
 	

/s/ SEAN MITCHELL
 Name: Sean Mitchell

Title: Manager Special Risks	
 	

 	
 	

 
	

By	
 	

/s/ BRUCE DUNLOP
 Name: Bruce Dunlop

Title: Portfolio Manager	
 	

 	
 	

 

	

INTER-AMERICAN DEVELOPMENT BANK
	

By	
 	

/s/ HIROSHI TOYODA
 Name: Hiroshi Toyoda

Title: Manager, Private Sector Department	
 	

 	
 	

 
	

 	
 	

 	
 	

 	
 	

 

QuickLinks

Exhibit 4.29

EXTENSION OF WAIVER TERMINATION DATE

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