wowexec.exe (wowexec stands for Window On Window Execution) is a Windows NT/2000/XP generic process used for providing support for outdated 16-bit Windows applications. The process wowexec is launched from the NTVDM service.
The process wowexec is not in any way a virus, a worm, a Trojan horse, spyware, or adware.
wowexec is a system process which can be terminated.