Document:

PROMISSORY NOTE WITH PIYUSH PATEL

 EXHIBIT 10.25
 

 

 PROMISSORY NOTE

 For value received on April 12, 2000, Piyush
   Patel (hereinafter "Executive") promises to pay to the order
   of Cabletron Systems, Inc., or any of its subsidiaries (hereinafter
   "Company" or "Cabletron"), the principal sum of $385,000
   Dollars (the "Loan Amount"). The outstanding principal amount of
   this Note, along with interest accruing at a rate of 6.46% per annum, shall
   be payable at 35 Industrial Way, Rochester New Hampshire, 03866, on the
   earlier of: (i) two years from the above stated date; and (ii) as described
   in the following sentence. Upon any sale by the Executive of any shares of
   Cabletron common stock within two years following the date of this
   Promissory Note, the Executive shall repay Cabletron an amount equal to the
   net proceeds of the sale (after tax) or the total remaining unpaid,
   whichever is less.

 In the event: (i) the Executive's employment with
   Cabletron is terminated by the Company without cause, or (ii) the death of
   the Executive, the entire remaining unpaid principal shall be forgiven.
   "Cause" shall mean a criminal felony, crimes of moral turpitude,
   deliberate harm of Cabletron, including fraud or embezzlement, and gross and
   repeated failure (after written notice) to perform Executive's
   duties.

 To secure Executive's prompt, punctual and faithful
   performance of each of Executive's obligations under this Note, Executive
   hereby assigns to Cabletron all rights of Executive to property, monies and
   credits for which Cabletron is obligated to Executive, and which is in the
   possession of Cabletron or any affiliate or subsidiary at the time of
   default by Executive under this Note and at any time after such default,
   which property, monies and credits shall include, without limitations,
   salary, bonuses, vacation pay, and insurance proceeds. The term
   "Collateral" shall refer to all interest of Executive assigned to
   Cabletron pursuant to this paragraph.

 In the event of a default by Executive under this Note,
   Cabletron shall be permitted to apply the Collateral toward the Executive's
   liabilities under this Note, and Executive hereby waives notice of
   nonpayment, demand, presentment, protest and all forms of demand and notice.
   The Executive shall remain liable to Cabletron for any deficiency remaining
   following such applications.

 This Note shall be in default upon the occurrence of
   any of the following:
 

 

 	Executive fails to pay all principal owed under this
   Note when due, and such failure continues uncured for fifteen (15)
   days;
	The Executive shall (i) admit in writing his inability
   to pay his debts generally as they become due, (ii) file a petition to
   answer seeking reorganization or arrangement of the federal bankruptcy laws
   or any other applicable law or statute of the United States of America or
   any state thereof, or any other jurisdiction, (iii) make an assignment or
   other arrangement for the benefit of his creditors generally, (iv) consent
   to the appointment of a receiver of himself, or (v) have an order for relief
   in bankruptcy entered against or with respect to him, provided such order
   shall not be vacated, set aside or stayed within thirty (30) days after the
   date of entry thereof.  

 If this Note is in default, the entire outstanding
   principal balance on this Note shall become immediately due and payable,
   without further notice. Should any part of the principal amount be collected
   after default by law or through an attorney-at-law, the Company shall be
   entitled to collect from the Executive, in addition to the default amount,
   all attorney fees, together with all other costs of collection.

 All rights, powers, and remedies provided for herein
   are cumulative and nonexclusive. The failure or delay of the holder to
   exercise a right, power, or remedy hereunder shall not operate as a waiver
   thereof of the same or any other right, power, or remedy on any future
   occasion.

 This Note, and all rights, powers, remedies and
   obligations arising from this Note, shall be construed according to and
   governed by the laws of the State of New Hampshire.

 IN WITNESS WHEREOF, the Executive has hereunto set his
   hand and seal effective the date first above written

 	Executive	Cabletron Systems, Inc.
	 	 
	/s/Piyush Patel	 /s/David Kirkpatrick 

   
	Piyush Patel	David Kirkpatrick
		Executive Vice President and CFO
	 	 
	4/12/00	4/12/00
	Date	DatePROMISSORY NOTE WITH EARLE S. HUMPHREYS

 
  
 

 EXHIBIT 10.26

 PROMISSORY NOTE

 For value received on January 1, 2000,
   Earle S. Humphreys (hereinafter "Executive") promises to
   pay to the order of Cabletron Systems, Inc., or any of its
   subsidiaries (hereinafter "Company" or "Cabletron"), the
   principal sum of $125,000 Dollars (the "Loan Amount"). The
   outstanding principal amount of this Note shall be payable at 35 Industrial
   Way, Rochester New Hampshire, 03866, on the earlier of: (i) two years from
   the above stated date; and (ii) as described in the following sentence. Upon
   any sale by the Executive of any shares of Cabletron common stock within two
   years following the date of this Promissory Note, the Executive shall repay
   Cabletron an amount equal to the net proceeds of the sale (after tax) or the
   total remaining unpaid principal (taking into account any forgiveness that
   has occurred pursuant to the following paragraph), whichever is
   less.

 Upon completion one year of continuous employment by
   the Executive from the date of this Promissory Note, Cabletron shall forgive
   the lesser of (i) 25 percent of the Loan Amount; and (ii) the remaining
   unpaid principal. Upon completion of two years of continuous employment by
   the Executive from the date of this Promissory Note, Cabletron shall forgive
   the lesser of (i) 75 percent of the Loan Amount; and (ii) the remaining
   unpaid principal. Any amount of this Note forgiven by the Company will be
   reported to the Executive as taxable wages.

 In the event: (i) the Executive's employment with
   Cabletron is terminated by the Company without cause, or (ii) the death of
   the Executive, the entire remaining unpaid principal shall be forgiven.
   "Cause" shall mean a criminal felony, crimes of moral turpitude,
   deliberate harm of Cabletron, including fraud or embezzlement, and gross and
   repeated failure (after written notice) to perform Executive's
   duties.

 To secure Executive's prompt, punctual and faithful
   performance of each of Executive's obligations under this Note, Executive
   hereby assigns to Cabletron all rights of Executive to property, monies and
   credits for which Cabletron is obligated to Executive, and which is in the
   possession of Cabletron or any affiliate or subsidiary at the time of
   default by Executive under this Note and at any time after such default,
   which property, monies and credits shall include, without limitations,
   salary, bonuses, vacation pay, and insurance proceeds. The term
   "Collateral" shall refer to all interest of Executive assigned to
   Cabletron pursuant to this paragraph.

 In the event of a default by Executive under this Note,
   Cabletron shall be permitted to apply the Collateral toward the Executive's
   liabilities under this Note, and Executive hereby waives notice of
   nonpayment, demand, presentment, protest and all forms of demand and notice.
   The Executive shall remain liable to Cabletron for any deficiency remaining
   following such applications.

 This Note shall be in default upon the occurrence of
   any of the following:

 	Executive fails to pay all principal owed under this
   Note when due, and such failure continues uncured for fifteen (15)
   days;
	The Executive shall (i) admit in writing his inability
   to pay his debts generally as they become due, (ii) file a petition to
   answer seeking reorganization or arrangement of the federal bankruptcy laws
   or any other applicable law or statute of the United States of America or
   any state thereof, or any other jurisdiction, (iii) make an assignment or
   other arrangement for the benefit of his creditors generally, (iv) consent
   to the appointment of a receiver of himself, or (v) have an order for relief
   in bankruptcy entered against or with respect to him, provided such order
   shall not be vacated, set aside or stayed within thirty (30) days after the
   date of entry thereof.  

 If this Note is in default, the entire outstanding
   principal balance on this Note shall become immediately due and payable,
   without further notice. Should any part of the principal amount be collected
   after default by law or through an attorney-at-law, the Company shall be
   entitled to collect from the Executive, in addition to the default amount,
   all attorney fees, together with all other costs of collection.

 All rights, powers, and remedies provided for herein
   are cumulative and nonexclusive. The failure or delay of the holder to
   exercise a right, power, or remedy hereunder shall not operate as a waiver
   thereof of the same or any other right, power, or remedy on any future
   occasion.

 This Note, and all rights, powers, remedies and
   obligations arising from this Note, shall be construed according to and
   governed by the laws of the State of New Hampshire.

 IN WITNESS WHEREOF, the Executive has hereunto set his
   hand and seal effective the date first above written

 
	Executive   	Cabletron Systems, Inc.
	/s/Earle S. Humphreys
                
      	/s/Piyush Patel
	Earle S. Humphreys  	Piyush Patel
	 	  CEO and President
	________________________________	________________________________
	Date	DatePROMISSORY NOTE WITH ENRIQUE P. (HENRY) FIALLO

 
  
 

 EXHIBIT 10.27

 PROMISSORY NOTE

 For value received on January 1, 2000, Enrique P.
   Fiallo (hereinafter "Executive") promises to pay to the order
   of Cabletron Systems, Inc., or any of its subsidiaries (hereinafter
   "Company" or "Cabletron"), the principal sum of $125,000
   Dollars (the "Loan Amount"). The outstanding principal amount of
   this Note shall be payable at 35 Industrial Way, Rochester New Hampshire,
   03866, on the earlier of: (i) two years from the above stated date; and (ii)
   as described in the following sentence. Upon any sale by the Executive of
   any shares of Cabletron common stock within two years following the date of
   this Promissory Note, the Executive shall repay Cabletron an amount equal to
   the net proceeds of the sale (after tax) or the total remaining unpaid
   principal (taking into account any forgiveness that has occurred pursuant to
   the following paragraph), whichever is less.

 Upon completion one year of continuous employment by
   the Executive from the date of this Promissory Note, Cabletron shall forgive
   the lesser of (i) 25 percent of the Loan Amount; and (ii) the remaining
   unpaid principal. Upon completion of two years of continuous employment by
   the Executive from the date of this Promissory Note, Cabletron shall forgive
   the lesser of (i) 75 percent of the Loan Amount; and (ii) the remaining
   unpaid principal. Any amount of this Note forgiven by the Company will be
   reported to the Executive as taxable wages.

 In the event: (i) the Executive's employment with
   Cabletron is terminated by the Company without cause, or (ii) the death of
   the Executive, the entire remaining unpaid principal shall be forgiven.
   "Cause" shall mean a criminal felony, crimes of moral turpitude,
   deliberate harm of Cabletron, including fraud or embezzlement, and gross and
   repeated failure (after written notice) to perform Executive's
   duties.

 To secure Executive's prompt, punctual and faithful
   performance of each of Executive's obligations under this Note, Executive
   hereby assigns to Cabletron all rights of Executive to property, monies and
   credits for which Cabletron is obligated to Executive, and which is in the
   possession of Cabletron or any affiliate or subsidiary at the time of
   default by Executive under this Note and at any time after such default,
   which property, monies and credits shall include, without limitations,
   salary, bonuses, vacation pay, and insurance proceeds. The term
   "Collateral" shall refer to all interest of Executive assigned to
   Cabletron pursuant to this paragraph.

 In the event of a default by Executive under this Note,
   Cabletron shall be permitted to apply the Collateral toward the Executive's
   liabilities under this Note, and Executive hereby waives notice of
   nonpayment, demand, presentment, protest and all forms of demand and notice.
   The Executive shall remain liable to Cabletron for any deficiency remaining
   following such applications 

 This Note shall be in default upon the occurrence of
   any of the following:

 	Executive fails to pay all principal owed under this
   Note when due, and such failure continues uncured for fifteen (15)
   days.
	The Executive shall (i) admit in writing his inability
   to pay his debts generally as they become due, (ii) file a petition to
   answer seeking reorganization or arrangement of the federal bankruptcy laws
   or any other applicable law or statute of the United States of America or
   any state thereof, or any other jurisdiction, (iii) make an assignment or
   other arrangement for the benefit of his creditors generally, (iv) consent
   to the appointment of a receiver of himself, or (v) have an order for relief
   in bankruptcy entered against or with respect to him, provided such order
   shall not be vacated, set aside or stayed within thirty (30) days after the
   date of entry thereof.  

 If this Note is in default, the entire outstanding
   principal balance on this Note shall become immediately due and payable,
   without further notice. Should any part of the principal amount be collected
   after default by law or through an attorney-at-law, the Company shall be
   entitled to collect from the Executive, in addition to the default amount,
   all attorney fees, together with all other costs of collection.

 All rights, powers, and remedies provided for herein
   are cumulative and nonexclusive. The failure or delay of the holder to
   exercise a right, power, or remedy hereunder shall not operate as a waiver
   thereof of the same or any other right, power, or remedy on any future
   occasion.

 This Note, and all rights, powers, remedies and
   obligations arising from this Note, shall be construed according to and
   governed by the laws of the State of New Hampshire.

 IN WITNESS WHEREOF, the Executive has hereunto set his
   hand and seal effective the date first above written

 
	Executive	Cabletron Systems, Inc.
	/s/Enrique P. Fiallo	/s/Piyush Patel 
	Enrique P. Fiallo	Piyush Patel
	 	CEO and President
	______________________	______________________
	Date	Date

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