Document:

EXHIBIT 10.2
                                 PROMISSORY NOTE

$50,000.00                                                      August 10, 2001

     FOR VALUE RECEIVED, Alliance Environmental Technologies, Inc., a New York
corporation, having its principal place of business at Brown Place and 132nd
Street, P.O. Box 541309, Bronx, New York and James Solano, residing at 421 North
Long Beach Road, Rockville Centre, New York 10454 (collectively referred to as
"Maker") hereby agrees to pay to the order of SEBE management Corp. Profit
Sharing Plan, having its principal place of business at 369 Lexington Avenue,
New York, New York 10017 (sometimes herein referred to as "Noteholder") or to
its order, at the address listed above (or at the option of Noteholder, at such
other place as Noteholder shall designate in writing) in currency which at the
time of the payment is legal tender for public and private debts in the United
States, the principal sum of Fifty Thousand ($50,000.00) Dollars ("Principal")
with interest thereon to be computed from the date hereof, at the rate of Twelve
and one-half (12.5%) percent per annum.

     1. Payment: The entire principal balance together with accrued and unpaid
interest shall be due and payable in full on November 13, 2001.

     2. Prepayment: The indebtedness evidenced hereby may be prepaid in whole or
in part at any time without penalty with interest to date of payment.

     3. Late Charge: If the payment of interest is not paid within five (5) days
of when due, Maker shall pay a late charge of three (3%) percent per annum of
the delinquent amount, subject to the maximum such charge permissible under any
controlling or applicable law, order, rule or regulation.

     4. Default: It is expressly understood and agreed that: (i) if Maker fails
to pay the principal and interest on the Maturity Date; or (ii) if Maker files
any petition in bankruptcy or such a petition is filed against Maker which is
not discharged within thirty (30) days; or (iii) application is filed for
appointment of a receiver of the assets of Maker; or (iv) if Maker makes a
general assignment for the benefit of creditors, then upon any one or more of
such events, the entire unpaid principal balance, together with accrued and
unpaid interest thereon, shall, at the option of Noteholder, become immediately
due and payable.

     5. Security. This Note is secured by the Maker assigning the 16,667 shares
of stock in Alliance Environmental Technologies, Inc. to Noteholder pursuant to
the provisions of a Pledge and Escrow Agreement of even date herewith between
Maker, Noteholder and Ross & Cohen, LLP.

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     6. Default Rate of Interest: In the event that the entire unpaid principal
balance, together with accrued and unpaid interest thereon is not paid on the
Maturity Date or the earlier due date, as a result of the acceleration thereof,
then from and after such date interest shall accrue on the remaining unpaid
principal balance at the rate of twenty four (24%) percent per annum.

     7. Acceleration: The failure of Noteholder to exercise its option to
accelerate following a default hereunder or the acceptance by Noteholder of
partial payments or partial performance shall not constitute a waiver of any
such default, but such options shall remain continuously in force unless waived,
in writing, by Noteholder. Acceleration, once claimed by Noteholder hereunder,
may, at Noteholder's option, be rescinded by written acknowledgment to that
effect, but the tender and acceptance of partial payment or partial performance
alone shall not in any way affect or rescind such acceleration. The remedies of
Noteholder shall be cumulative and concurrent and may be pursued singly,
successively or together, at Noteholder's discretion, and may be exercised as
often as occasion therefore shall arise.

     8. Waiver: Maker hereby waives demand for payment, notice of non-payment,
presentment, notice of dishonor, protest, notice of protest, or any other notice
whatsoever.

     9. Severability: In the event any one or more of the provisions contained
in this Note shall for any reason be held to be invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provision of this Note; but this Note shall be
construed as if such invalid, illegal or unenforceable provision had never been
contained herein or therein.

     10. Maximum Legal Rate: It is not intended hereby that the late charge and
interest be construed as interest at a rate in excess of the maximum legal rate
of interest permitted to be charged makers under the laws of the State of New
York; if, nevertheless, a late charge and interest in excess of such maximum
legal rate shall be charged or paid hereunder, then the rate imposed hereunder
shall be reduced to such maximum legal rate, and if the Noteholder shall ever
receive as late charge or interest in an amount which would exceed the highest
lawful rate, such amount which would be deemed excessive interest shall be
applied to the reduction of the unpaid principal balance due hereunder and not
to the payment of any late charge or interest or at the Noteholder's sole
option, such amount shall be returned to Maker.

     11. No Defenses/Offsets: Maker hereby certifies that there are no defenses
or offsets to this Note which is fully binding and enforceable against Maker.
All payments due and payable hereunder shall be due and payable by the Maker
without any right whatsoever of set off, deduction, or counterclaim whatsoever.

     12. Modification: This Note may not be modified, amended or terminated
orally, nor may any of its provisions be waived, except by an agreement in
writing signed by the party against whom enforcement of such modification,
amendment, waiver or termination is sought.

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     13. Governing Law: This Note shall be construed, interpreted, and enforced
according to, and governed by, the laws of the State of New York.

     14. Notices: Any notice to Maker shall be given by mailing such notice,
certified mail, return receipt requested, addressed to Maker at the following
address:

                  Alliance Environmental Technologies, Inc.
                  P.O. Box 541309
                  Brown Place and 132nd Street
                  Bronx, New York 10459

                  With a copy to:

                  Bruce Caputo, Esq.
                  Rockefeller Center, Suite 1817
                  1270 Avenue of the Americas
                  New York, New York 10020-1701

or to such other address as Maker may designate by written notice to Noteholder.

     Any notice to Noteholder shall be given by mailing such notice by certified
mail, return receipt requested, addressed to Noteholder at the following
address:

                  SEBE Management Corp. Profit Sharing Plan
                  c/o Bernard Ettinger
                  30 Fairway Drive
                  Manhasset, New York 11030

                  With a copy to:

                  Ross & Cohen, LLP
                  711 Third Avenue
                  New York, New York 10017
                  Attn.:   Joseph A. Mascia, Esq.

or to such other address as Noteholder may designate by written notice to the
Maker.

     15. Waiver of Trial by Jury: Maker hereby waives trial by jury in any
action, proceeding, or counterclaim brought either by or against Maker in
connection with any matter in any way arising from, relating to, or connected
with this Note.

     16. Service of Process: Maker hereby consents to process being served in
any suit, action or proceeding in connection with this Note by serving a copy
thereof by prepaid registered

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or certified mail, return receipt requested, addressed to Maker at the address
set forth in paragraph 14 above. Maker hereby irrevocably waives, to the fullest
extent permitted by applicable law, all claim of error or insufficiency by
reason of any such service of process pursuant to the terms hereof and agrees
that such service shall be deemed in every respect to be effective service of
process on Maker.

     17. Time of Essence: Time shall be of the essence for the timely payment of
all amounts hereunder by Maker.

     18. Miscellaneous:

          (i) This Note shall be binding upon and inure to the benefit of the
     parties hereto and their respective heirs, legal representations,
     successors and assigns.

          (ii) Maker acknowledges that this Note is an instrument for the
     payment of money only as set forth in New York Civil Practice Law and Rules
     Section 3213.

          19. Attorney's Fees: In the event it shall become necessary for
     Noteholder to employ counsel to enforce Maker's obligations under this Note
     or any part thereof, Maker agrees to pay Noteholder's reasonable attorney's
     fees in connection therewith, or on appeal or in bankruptcy proceedings,
     and all other costs and expenses reasonably connected therewith.

          IN WITNESS WHEREOF, Maker has executed this Note on the date and year
     first hereinabove written.

                                   ALLIANCE ENVIRONMENTAL
                                   TECHNOLOGIES, INC.

                                   By: /s/ James Solano
                                       ---------------------------------
                                       James Solano, President

                                       /s/James Solano
                                       ---------------------------------
                                       James Solano

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<PAGE>
State of New York          )
                           )ss.:
County of New York         )

     On this 10th day of August in the year 2001, before me, the undersigned,
personally appeared James Solano, personally known to me or proved to me on the
basis of satisfactory evidence to be the individual whose name is subscribed to
the within instrument and acknowledged to me that he executed the same in his
capacity, and that by his signature on the instrument, the individuals, or the
persons upon behalf of which the individual acted, executed the instrument.

                                           ------------------------------
                                                   Notary Public

State of New York          )
                           )ss.:
County of New York         )

     On this 10th day of August in the year 2001, before me, the undersigned,
personally appeared James Solano, personally known to me or proved to me on the
basis of satisfactory evidence to be the individual whose name is subscribed to
the within instrument and acknowledged to me that he executed the same in his
capacity, and that by his signature on the instrument, the individuals, or the
persons upon behalf of which the individual acted, executed the instrument.

                                           ------------------------------
                                                   Notary Public

                                        5<PAGE>

                                                                     Exhibit 4.1

                             TRANSWITCH CORPORATION
              INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

 This Certificate is transferable in Canton, MA, Jersey City, NJ or New York, NY

Number Shares
TXC
Common Stock
CUSIP 894065 10 1

                                SEE REVERSE SIDE
                             FOR CERTAIN DEFINITIONS

                               This Certifies That

                                 is the owner of

              FULLY PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK,
                          PAR VALUE $.001 PER SHARE OF
                             TRANSWITCH CORPORATION

(herein called the "Corporation"), transferable on the books of the Corporation
by the holder hereof in person or by duly authorized attorney upon surrender of
this Certificate properly endorsed. This Certificate and the shares represented
hereby are subject to the laws of the State of Delaware and to the Certificate
of Incorporation and the By-laws of the Corporation as from time to time
amended. This Certificate is not valid unless countersigned and registered by
the Transfer Agent and Registrar.

Witness the facsimile seal of the Corporation and the facsimile signatures of
its duly authorized officers.

         Dated:

         /s/ Michael C. McCoy            [SEAL]       /s/ Santanu Das
         ----------------------------                 --------------------------
         Secretary                                    President

           COUNTERSIGNED AND REGISTERED: EQUISERVE TRUST COMPANY, N.A.
                          TRANSFER AGENT AND REGISTRAR
                                       BY
                              AUTHORIZED SIGNATURE
<PAGE>

                             TRANSWITCH CORPORATION

The following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenants in common
TEN ENT - as tenants by the entireties
JT TEN - as joint tenants with right of survivorship and not as tenants in
common

UNIF GIFT MIN ACT - ___________ Custodian ___________
                      (Cust)                (Minor)
Under the Uniform Gifts
to Minors Act _________________
                    (State)

Additional abbreviations may also be used though not in above list.

FOR VALUE RECEIVED, _____________________________ hereby sell, assign and
transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE
                _______________________________________________

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING ZIP CODE OF ASSIGNEE)

                _______________________________________________
                _______________________________________________

shares represented by the within Certificate, and do hereby irrevocably
constitute and appoint _________________________________________________
Attorney to transfer the said shares on the books of the within named
Corporation with full power of substitution in the premises.

         Dated:                         ________________________________________

                                        ________________________________________
                                        NOTICE: The signature(s) to this
                                        assignment must correspond with the name
                                        as written upon the face of the
                                        certificate in every particular, without
                                        alteration or enlargement or any change
                                        whatever.
<PAGE>

         SIGNATURE (S) GUARANTEED:______________________________________________
                                  The signature(s) should be guaranteed by an
                                  eligible guarantor institution (banks,
                                  stockbrokers, savings and loan associations
                                  and credit unions with membership in an
                                  approved signature guarantee medallion
                                  program) pursuant to S.E.C. Rule 17Ad-15.

THIS CERTIFICATE EVIDENCES AND ENTITLES THE HOLDER HEREOF TO CERTAIN RIGHTS AS
SET FORTH IN A RIGHTS AGREEMENT BETWEEN TRANSWITCH CORPORATION AND EQUISERVE
TRUST COMPANY, N.A., AS IN EFFECT FROM TIME TO TIME (THE "RIGHTS AGREEMENT"),
THE TERMS OF WHICH ARE HEREBY INCORPORATED HEREIN BY REFERENCE AND A COPY OF
WHICH IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF TRANSWITCH CORPORATION.
UNDER CERTAIN CIRCUMSTANCES, AS SET FORTH IN THE RIGHTS AGREEMENT, SUCH RIGHTS
WILL BE EVIDENCED BY SEPARATE CERTIFICATES AND WILL NO LONGER BE EVIDENCED BY
THIS CERTIFICATE. TRANSWITCH CORPORATION WILL MAIL TO THE HOLDER OF THIS
CERTIFICATE A COPY OF THE RIGHTS AGREEMENT WITHOUT CHARGE AFTER RECEIPT OF A
WRITTEN REQUEST THEREFOR. UNDER CERTAIN CIRCUMSTANCES, AS SET FORTH IN THE
RIGHTS AGREEMENT, RIGHTS THAT ARE OR WERE ACQUIRED OR BENEFICIALLY OWNED BY
ACQUIRING PERSONS (AS DEFINED IN THE RIGHTS AGREEMENT) MAY BECOME NULL AND VOID.

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