Document:

WSTL-EX10.2_2015.06.30

Exhibit 10.2

WESTELL TECHNOLOGIES, INC.

FORM of RESTRICTED STOCK UNIT AWARD AGREEMENT

THIS RESTRICTED STOCK UNIT AWARD AGREEMENT is granted by
WESTELL TECHNOLOGIES, INC. (the “Company”) to Charles Bernstein (the “Participant”)
this 11th day of  May, 2015 (the “Grant Date”) pursuant to the Company’s 2004 Stock Incentive
Plan (the “Plan”).  The applicable terms of the Plan are incorporated herein by reference,
including the definitions of terms contained therein.

WHEREAS, the Company believes it to be in the best interests of the Company
and its stockholders for its officers and other Participants to have an incentive tied to the price of
the Company's Class A Common Stock (the "Common Stock") in order that they will have a
greater incentive to work for and manage the Company’s affairs in such a way that its shares
may become more valuable; and

WHEREAS, the Company has determined to grant the Participant restricted stock
units which assuming certain conditions and other requirements specified below are satisfied
convert into shares of Common Stock pursuant to the terms of the Plan and this Agreement;
 
NOW, THEREFORE, in consideration of the premises and of the services to be
performed by the Participant and other conditions required hereunder, the Company and the
Participant intending to be legally bound hereby agree as follows:

1.Restricted Stock Units Award.  The Company hereby grants to the Participant
180,000 “Restricted Stock Units”.  The Restricted Stock Units granted under this Agreement are
units that will be reflected in a book account maintained by the Company until the shares of
Common Stock have been issued pursuant to Section 3 or have been forfeited. This Award is
subject to the terms and conditions of this Agreement and the Plan.

2.Vesting of Award.
  
		
	(a)
	Vesting Schedule.  The Restricted Stock Units will vest according to the

following schedule, with respect to each installment shown in the
 schedule, on and after the vesting date applicable to such installment:
	
		
	Installment
	Vesting Date Applicable
to Installment

	25% of the Award
	First anniversary of grant

	Next 25% of the Award
	Second anniversary of grant

	Next 25% of the Award
	Third anniversary of grant

	Final 25% of the Award
	Fourth anniversary of grant

(b)    Vesting Conditions and Provisions Applicable to Award.  The period of
time during which the Restricted Stock Units are forfeitable is referred to

as the “Restricted Period”.  Except as provided in Section 5 if the
Participant's employment with the Company or one of its subsidiaries
terminates during the Restricted Period for any reason, then the unvested
Restricted Stock Units shall be forfeited to the Company on the date of
such termination, without any further obligation of the Company to the
Participant and all of the Participant's rights with respect to unvested
Restricted Stock Units shall terminate. 

3.Conversion of the Restricted Stock Units to Common Stock.  Immediately
following the vesting of Restricted Stock Units under Section 2, the Company shall issue to the
Participant a certificate representing one share of Common Stock for each Restricted Stock Unit
becoming vested.  The Company shall not be required to issue fractional shares of Common
Stock upon the settlement of the Restricted Stock Units.

4.Rights During the Restricted Period.  Prior to vesting as described in Section 2,
the Participant will not receive any certificates with respect to the Restricted Stock Units and will
not have any right to vote the Restricted Stock Units.  The Participant will not be deemed a
stockholder of the Company with respect to any of the Restricted Stock Units.  The Restricted
Stock Units may not be sold, assigned, transferred, pledged, encumbered or otherwise disposed
of prior to vesting.  After Restricted Stock Units are converted to shares of Common Stock, the
Participant shall receive a cash payment or payments from the Company equal to any cash
dividends paid with respect to the number of shares of Restricted Stock relating to Restricted
Stock Units that are earned hereunder during the period beginning with the date of Award
through the date the shares of Common Stock become issued and outstanding.
 
5.Accelerated Vesting; Change in Control.
  
		
	(a)
	Notwithstanding the provisions of Section 2, in the event of a Triggering

Event or a termination of Participant's employment by the Company or
one of its subsidiaries without Cause no more than three months prior to
and in anticipation of a Change in Control, the Participant will become
immediately vested in all Restricted Stock Units.
  
Additionally, any unvested Restricted Stock Units shall vest and become
immediately exercisable upon termination of employment by the
Company without Cause (as defined in the Offer Letter, dated April 20,
2015 (the “Offer Letter”)) or upon termination of employment by the
Company without Cause within six (6) months following a Change in
Control (as defined in the Offer Letter).  In exchange for the compensation
and benefits noted in this paragraph, Participant will be required to sign
(and not revoke) at the time of separation, a Separation Agreement and
Release.

		
	(b)
	For purposes of this Agreement, "Change in Control", "Triggering Event"

and "Cause" have the following meaning:

		
	(i)
	A “Change in Control” of the Company shall be deemed to have

occurred as of the first day that any one or more of the following
conditions shall have been satisfied:

		
	(A)
	the consummation of the purchase by any person, entity or

group of persons, within the meaning of Section 13(d) or
14(d) of the Securities Exchange Act of 1934, as amended,
except the Voting Trust (together with its affiliates) formed
pursuant to the Voting Trust Agreement dated February 23,
1994, as amended, among Robert C. Penny III and Melvin
J. Simon, as co-trustees, and certain members of the Penny
family and the Simon family, of ownership of shares
representing more than 50% of the combined voting power
of the Company’s voting securities entitled to vote
generally (determined after giving effect to the purchase);

		
	(B)
	a reorganization, merger or consolidation of the Company,

in each case, with respect to which persons who were
shareholders of the Company immediately prior to such
reorganization, merger or consolidation do not,
immediately thereafter, own 50% or more of the combined
voting power entitled to vote generally of the Company or
the surviving or resulting entity (as the case may be); or

		
	(C)
	a sale of all or substantially all of the Company’s assets,

except that a Change in Control shall not exist under this
clause (C) if the Company or persons who were
shareholders of the Company immediately prior to such
sale continue to collectively own 50% or more of the
combined voting power entitled to vote generally of the
acquirer.

		
	(ii)
	A "Triggering Event" shall be deemed to have occurred as of the

first day that any one or more of the following conditions shall
have been satisfied:

		
	(A)
	the Participant resigns from and terminates his employment

with the Company for Good Reason following a Change in
Control by notifying the Company or its successor within
ninety (90) days after the initial occurrence of the event
constituting Good Reason specifying in reasonable detail
the basis for the Good Reason.
 
		
	(B)
	the Company or its successor terminates the Participant’s

employment with the Company without Cause within two
years of the date on which a Change in Control occurred.

		
	(iii)
	"Good Reason" means that concurrent with or within twelve

months following a Change in Control, the Participant's base salary
is reduced or the Participant’s total compensation and benefits
package is materially reduced without the Participant's written
approval, or the Participant's primary duties and responsibilities
prior to the Change in Control are materially reduced or modified
in such a way as to be qualitatively beneath the duties and
responsibilities befitting of a person holding a similar position with
a company of comparable size in the Company’s business in the
United States, without the Participant's written approval (other than
may arise as a result of the Company ceasing to be a reporting
company under the Exchange Act or ceasing to be listed on
NASDAQ), or the Participant is required, without his consent, to
relocate his principal office to a location, or commence principally
working out of another office located, more than 30 miles from the
Company’s office which represented the Participant’s principal
work location. 
 
		
	(iv)
	“Cause” means (A) the failure by the Participant to comply with a

particular directive or request from the Board of the Company
regarding a matter material to the Company, and the failure
thereafter by the Participant to reasonably address and remedy
such noncompliance within thirty (30) days (or such shorter period
as shall be reasonable or necessary under the circumstances)
following the Participant’s receipt of written notice from the Board
confirming the Participant’s noncompliance; (B) the taking of an
action by the Participant regarding a matter material to the
Company, which action the Participant knew at the time the action
was taken to be specifically contrary to a particular directive or
request from the Board, (C) the failure by the Participant to comply
with the written policies of the Company regarding a matter
material to the Company, including expenditure authority, and the
failure thereafter by the Participant to reasonably address and
remedy such noncompliance within thirty (30) days (or such
shorter period as shall be reasonable or necessary under the
circumstances) following the Participant’s receipt of written notice
from the Board confirming the Participant’s noncompliance, but
such opportunity to cure shall not apply if the failure is not curable;
(D) the Participant’s engaging in willful, reckless or grossly
negligent conduct or misconduct which, in the good faith
determination of the Company’s Board, is materially injurious to
the Company monetarily or otherwise; (E) the aiding or abetting a
competitor or other breach by the Participant of his fiduciary duties
to the Company; (F) a material breach by the Participant of his
obligations of confidentiality or nondisclosure or (if applicable)
any breach of the Participant’s obligations of noncompetition or
nonsolicitation under any agreement between the Participant and

the Company; (G) the use or knowing possession by the Participant
of illegal drugs on the premises of the Company; or (H) the
Participant is convicted of, or pleads guilty or no contest to, a
felony or a crime involving moral turpitude.

		
	(c)
	Solely for purposes of the definitions of “Triggering Event”, “Good

Reason” and "Cause" under this Section 5 (and not for purposes of the
definition of "Change in Control" hereunder), the Company shall be
deemed to include any of Westell Technologies, Inc.'s direct and indirect
subsidiary companies and the term Board shall be deemed to include the
Board of Directors of any such subsidiary.
 
6.Interpretation by Committee.  The Participant agrees that any dispute or
disagreement that may arise in connection with this Agreement shall be resolved by the
Committee, in its sole discretion, and that any interpretation by the Committee of the terms of
this Agreement, the Award or the Plan and any determination made by the Committee under this
Agreement or such plan may be made in the sole discretion of the Committee.

7.Miscellaneous.

		
	(a)
	This Agreement shall be governed and construed in accordance with the

laws of the State of Delaware applicable to contracts made and to be
performed therein between residents thereof.

		
	(b)
	This Agreement may not be amended or modified except by the written

consent of the parties hereto.

		
	(c)
	The captions of this Agreement are inserted for convenience of reference

only and shall not be taken into account in construing this Agreement.

		
	(d)
	This Agreement shall be binding upon and inure to the benefit of the

Company and its successors and assigns and shall be binding upon and
inure to the benefit of the Participant, the Beneficiary and the personal
representative(s) and heirs of the Participant, except that the Participant
may not transfer any interest in any Restricted Stock Units prior to the
release of the restrictions imposed by Sections 2 and 4.

IN WITNESS WHEREOF, the parties hereto have, personally or by a duly authorized
representative, executed this Agreement as of the Grant Date first above written.

Westell Technologies, Inc.

By:     /s/ Thomas P. Minichiello                
Name (printed):  Thomas P. Minichiello
Title:  Chief Financial Officer

/s/ Charles S. Bernstein
Charles S. BernsteinWSTL-EX10.3_2015.06.30

`                                            Exhibit 10.3

SEPARATION AGREEMENT AND RELEASE
This Separation Agreement and Release (“Agreement”) is entered into between Westell,
Inc. and its affiliates (“Employer”) and Mark Skurla (“Employee”).  In consideration for the
mutual promises set forth below, Employer and Employee agree as follows.

1.Employee’s employment with Employer will terminate April 23, 2015
("Separation Date").  All employee benefits, plans, programs and fringe benefits cease as of the
Separation Date unless otherwise noted herein.

2.Employer agrees to:
		
	a.
	Pay Employee a bonus for FY 2015 to which Employee is not otherwise

entitled, in the amount of $78,000 less required withholdings.  This
payment will be paid in a lump sum on the next regularly scheduled pay
day following the Effective Date of this Agreement, provided that
Employee signs the Agreement and does not revoke it.

		
	b.
	Pay Employee severance pay in the amount of $65,000 less required

withholdings.  The severance will be paid in a lump sum on the next
regularly scheduled pay day following the Effective Date of this
Agreement, provided that Employee signs this Agreement and does not
revoke it.

		
	c.
	Pay earned but unused PTO pay in the amount of $0.  All PTO earned as

of 4/23/2015 has been used.

		
	d.
	Continue current levels of medical, dental and vision coverage at the

employee rate for the lesser of three months after the separation of
employment or until you become eligible for coverage by a health plan of
any subsequent employer.  Employee will be receiving under separate
cover information regarding their rights under COBRA.

3.     In exchange for the promises and agreements contained herein and the payments
described in Paragraph 2a, 2b and 2d above, Employee on behalf of himself, his heirs, executors,
administrators, and assigns, hereby irrevocably and unconditionally releases, holds harmless and
discharges, to the fullest extent permitted by law, Employer and all of its affiliated or related
entities (including but not limited to Westell Technologies, Inc.) (“Employer Group”), their
successors, assigns, officers, directors, agents, and employees (together with Employer Group,
“Released Parties”) from all claims, charges, complaints, grievances, liabilities, obligations,
promises, damages, actions, causes of action, suits, rights, demands, costs, losses and expenses
of any  nature whatsoever, whether known or unknown, suspected or unsuspected, vested or
contingent, concealed or hidden, which Employee ever had, may have or ever will have relating
to Released Parties, by reason of any and all acts, omissions, events, transactions, circumstances
or facts existing or occurring up to the date hereof.  This release includes but is not limited to: 1)
all liabilities for the payment of earnings; commissions; bonuses; severance pay; salary; accruals
under any vacation, sick leave, holiday, or employee benefit plans; 2) any charges, lawsuits or
claims of retaliation or discrimination on account of age, race, color, sex, sexual orientation,

marital status, disability, national origin, citizenship and religion, brought under any federal,
state, or local law, including but not limited to Title VII of the Civil Rights Act of 1964, the Civil
Rights Act of 1991, the Civil Rights Act of 1866, the Age Discrimination in Employment Act, as
amended by the Older Workers’ Benefit Protection Act, the Americans with Disabilities Act, the
Worker Adjustment Retraining and Notification Act, the Family and Medical Leave Act of 1993,
the National Labor Relations Act, the Equal Pay Act, the Employee Retirement Income Security
Act, the Fair Labor Standards Act, the Illinois Wage Payment and Collection Act, or any similar
state wage and hour law, the Illinois Human Right Act, or any other state anti-discrimination
law; and 3) any tort, contract, and quasi-contract or other common law claims.  This general
release shall not apply to Employee’s rights under this Agreement, nor shall it in any way affect
his right to enforce the terms of the Agreement or to obtain appropriate relief in the event of any
breach of this Agreement.  Also excluded from this release are any claims which cannot be
waived by law, including but not limited to the right to participate in an investigation conducted
by certain government agencies.  Employee does, however, waive Employee’s right to
reinstatement or any monetary recovery should any agency (such as the Equal Employment
Opportunity Commission) pursue any claims on Employee’s behalf.  

4.     Employee represents that he has not filed any charges, suits, claims or complaints
against Released Parties referred to above, and Employee agrees, to the fullest extent permitted
by law, that he will not do so at any time in the future with respect to any claim which arose prior
to the date of this Agreement.  This release forever bars all suits which arose or might arise in the
future from any occurrences arising prior to the date of this Agreement and authorizes any court
to dismiss any claim filed by the Employee with prejudice.  Employee understands that if he
takes any legal action against Released Parties, Employee must, as a condition precedent to such
action, repay the severance pay provided for in this Agreement.  However, Employee shall not be
required to repay the severance pay if the action is to challenge the waiver of his claims under
the Age Discrimination in Employment Act.

5.    The following provisions apply to and are made a part of this Separation
Agreement and Release:
		
	a.
	Employee does not release or waive any right or claim which he may have

which arises after the date of this Agreement.

		
	b.
	In exchange for this release, Employee acknowledges that he has received

separate consideration beyond that which Employee is otherwise entitled
to under Employer policy or applicable law, including without limitation
the severance pay.

		
	c.
	Employer expressly advises Employee to consult with an attorney of

Employee’s choosing prior to executing this Agreement which contains a
general release of all claims.

		
	d.
	Employee has twenty-one (21) days from the date of receipt to sign this

Agreement and return it to Sharon Hintz at the address below.  In the 
event Employee signs this Agreement, Employee has a further period of
seven (7) days in which to revoke this Agreement.  This Agreement is not
effective until the end of the revocation period (“Effective Date”).  Any 

revocation must be communicated in writing, by personal delivery or first
class mail to:

Sharon Hintz
Westell, Inc.
750 N. Commons Drive
Aurora, Illinois 60504

Any revocation must be received by Sharon Hintz, in writing, on or before
the 7th day after Employee signs this Agreement.

		
	e.
	Within seven days of executing this agreement, Employee agrees to return

to Employer all Employer property, including but not limited to files,
records, computer hardware and software, credit cards, keys, card key
passes, all other property or information provided by Employer Group to
Employee.  Employee agrees to retain no copies of Employer Group
documents.  

6.The parties recognize that disclosure of the terms of this Agreement to non-parties
would cause the Employer serious damage.  Employee agrees not to disclose the terms of this
Agreement to anyone other than his spouse, his attorneys and his financial advisors, except when
required by law or valid subpoena.  Aside from the noted exceptions, Employee further agrees to
advise his spouse, his attorneys and his financial advisors as to the terms of this paragraph, to
instruct his spouse, his attorneys and his financial advisors not to disclose the terms and
existence of this Agreement to anyone else and to be responsible for any violation by any person
to whom he has disclosed any portion of the Agreement.  

7.Employee agrees that any and all information obtained by or disclosed to him at
any time during his employment with the Employer which is not generally known to the public is
strictly confidential and/or proprietary to the Employer Group and Employee shall not make use
of this information for his own purposes or for the benefit of anyone other than the Employer
Group and he shall not disclose this information to any person or organization.  

8.Employee agrees not to disparage the Released Parties utilizing any medium to
include printed materials, internet services, verbal comments or any action that is construed by
the Employer as demeaning, mischievous, or capable of negative impact on its reputation and
goodwill value.  Employee understands that engagement in such activity will require that the
Employee must repay the severance provided in this Agreement.  Moreover, any actions of this
nature may subject Employee to appropriate legal remedy and recovery of damages.

9.In exchange for the promises and agreements contained herein and the payments
described in Paragraph 2a, 2b and 2d above, for a period of twelve months following the
separation of employment, Employee agrees that he will not, directly or indirectly, on his own
behalf or on behalf of any other party, employ, solicit for employment, attempt to solicit for
employment, or encourage or otherwise cause to leave their employment at Employer Group,
any person who is or was during the six-month period prior to such employment, solicitation or
encouragement an employee of the Employer Group.

10.In exchange for the promises and agreements contained herein and the payments
described in Paragraph 2a, 2b and 2d above, for a period of twelve months following the
separation of employment, Employee agrees that he will not, directly or indirectly, influence,
solicit or attempt to influence or solicit any customer of the Employer Group with whom he had
contact during his last two years of employment with Employer, to cease doing business with the
Employer Group or to divert their business away from Employer Group or to a business
competitive with the business of Employer Group.

11.In exchange for the promises and agreements contained herein and the payments
described in Paragraph 2a, 2b and 2d above, for a period of twelve months following the
separation of employment, Employee shall not, anywhere in North America, Europe, or any
other market the Employer Group serves, directly or indirectly engage, control, advise, manage,
or become interested in (as owner, stockholder, partner, co-venturer, director, officer, employee,
agent, consultant or otherwise) any business competitive with the business of Employer Group.

12.In the event Employee breaches the provisions of paragraphs 5e, 6, 7, 8, 9, 10 or
11 of this Agreement, the Employer preserves all remedies which it may have at law or in equity,
including without limitation injunctive relief, and reserves the right to demand repayment of all
financial and other benefits to be provided pursuant to this Agreement, along with attorneys’ fees
where permitted by law.

13.Employee agrees to reasonably cooperate with the Employer in any internal
investigation or administrative, regulatory, or judicial proceeding.  Employee understands and
agrees that his cooperation may include, but not be limited to, making himself available to the
Employer upon reasonable notice for interviews and factual investigations; appearing at
Employer's request to give testimony without requiring service of a subpoena or other legal
process; volunteering to the Employer pertinent information; and turning over to the Employer
all relevant documents which are or may come into his possession all at times and on schedules
that are reasonably consistent with his other permitted activities and commitments.  Employee
understands that in the event the Employer asks for his cooperation in accordance with this
provision, the Employer will reimburse him solely for reasonable travel expenses, including
lodging and meals, upon his submission of receipts.

14.It is understood that this Agreement does not constitute an admission by the
Employer of any violation of any federal, state or municipal statutory or common law.  Neither
this Agreement nor anything in this Agreement shall be construed to be or shall be admissible in
any proceeding as evidence of wrongdoing by the Employer.  Further, the Employer specifically
denies any wrongdoing and disclaims any liability to or wrongful acts against Employee or any
other person, on the part of the Employer, its affiliates, parents and subsidiaries, and their
respective past, present and future employees, owners, directors, trustees, shareholders,
distributees, agents, partners, attorneys and/or representatives.
  
15.This Agreement shall be interpreted, construed and enforced under the laws of the
State of Illinois and any disputes hereunder litigated in an Illinois court of competent
jurisdiction.

16.In the event that any term or provision of this Agreement shall be finally
determined to be superseded, invalid, illegal or otherwise unenforceable pursuant to applicable 

law by a governmental authority having jurisdiction and venue, that determination shall not
impair or otherwise affect the validity, legality or enforceability, to the maximum extent
permissible by law, by or before that authority, of the remaining terms and provisions of this
Agreement, which shall be enforced as if the unenforceable term or provision were deleted;
provided, however, that in the event that paragraphs 9, 10, or 11 of this Agreement are
determined by such authority to be unenforceable because of unreasonable geographic scope,
duration or otherwise, such authority may nevertheless enforce those paragraphs as to a reduced
geographic scope, duration, or other limitation deemed reasonable by such authority.

17.Employee acknowledges that he has carefully read and fully understands all of the
provisions of this Agreement, and he is knowingly, voluntarily, and willfully entering into this
Agreement.

18.Employee acknowledges that in executing this Agreement, he has not relied upon
any representation by Employer or its agents not set forth in this Agreement and that he has not
been subjected to any duress, coercion, fraud, overreaching or exploitation.

19.Employee acknowledges that he received this Agreement on or before May 20,
2015.

20.This Agreement sets forth the entire agreement between the parties and
supersedes any prior agreements and understandings, written or oral.

PLEASE READ CAREFULLY.  THIS AGREEMENT INCLUDES A RELEASE
 OF ALL KNOWN AND UNKNOWN CLAIMS.

Westell, Inc.

                                
/s/ Mark Skurla                                By:      /s/  Tom Minichiello
Mark Skurla                                        Tom Minichiello

            
Date            5/26/2015                        Date   5/20/2015

/s/ Ashley Skurla        
Witness Signature

Ashley Skurla
Witness Name (please print)

    
(Street Address)

    
(City, State, Zip Code)

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