Document:

<PAGE>

                                                                   Exhibit 10.20

                                    AGREEMENT

      THIS AGREEMENT made effective this 1st day of October, 1994 by and between
GINTARAS SUBATIS whose principal address is 59 Dayton Street, Quincy, MA 02169
(hereinafter "Stockholder") and INTRINSIX CORPORATION, a Massachusetts
corporations, with its principal address is 33 Lyman Street, Westboro, MA 01581
(hereinafter "Company") contains the agreed upon terms and conditions under
which Stockholder shall sell back to the Company and the Company shall
repurchase all the shares of Company stock owned and held in the name of the
Stockholder as well as to define other aspects of the former and continuing
relationship between the Stockholder and the Company.

                                   BACKGROUND

      The Stockholder is currently serving as the Treasurer and as a Director of
the Company and is the owner of Forty One Thousand Eight Hundred and Ninety One
(41,891) shares of the Company's common stock, no par value ("Shares").

      The Company desires to repurchase and the Stockholder desires to sell to
the Company the Shares currently owned by the Stockholder and to effect the
repurchase is willing to execute a Promissory Note and grant a security interest
in certain assets as set forth herein and in the Exhibits attached hereto.

      The parties have concluded negotiations with respect to the terms of such
repurchase and the terms governing the restructuring of the Stockholder's
relationship with Company and wish to document such understandings.

      NOW, THEREFORE, and in consideration of the mutual covenants contained
herein and for other good and valuable consideration, the parties, intending to
be legally bound, hereby agree as follows:

      1. Sale of Stock. The Stockholder hereby sells, transfers, and assigns all
of his right, title and interest in and to all Forty One Thousand Eight Hundred
and Ninety One (41,891) shares of stock in the Company currently held in the
name of the Stockholder for an effective price of Twelve ($12.00) Dollars per
share (of which Two ($2.00) Dollars shall be allocated to the Non-Compete
provision below) and in payment therefore, the Company agrees to execute, and
deliver to the Stockholder the Promissory Note attached hereto as Exhibit A. The
Stockholder represents that the foregoing is all of the shares and options as to
which he has any interest.

      2. Security. As security for the payment of such Promissory Note, the
Company agrees to execute the UCC Financing Statement and Security Agreement
attached hereto as Exhibit B.

      3. Resignation. The Stockholder will execute a resignation of his position
as Treasurer of the Company, a copy of which is attached hereto as Exhibit C and
the Company shall execute and file with the Secretary of State of the
Commonwealth of Massachusetts a Change of Officers and Directors form attached
hereto as Exhibit D.

<PAGE>

      4. Non-Competition. In consideration of the repurchase of the Shares, and
the Stockholder's resignation as Treasurer of the Company, the Stockholder
agrees that so long as the payments under the Note are made, and until the Note
is either paid in full or an event of default has occurred, not to accept
employment with any entity or engage in any activities, directly or indirectly,
which will be competitive with the current business or with demonstrably
anticipated business of the Company as of the date hereof. The foregoing will
not prevent the Stockholder from taking an equity position in any company which
may be involved in providing similar activities as part of a normal investment
program.

      5. Indemnification. In consideration of the Stockholder's resignation as
an Officer of the Company, the Company agrees to indemnify and save harmless the
Stockholder from any and all claims, demands, cause of action, or proceedings,
including reasonable attorney fees based on any actions or inactions while the
Stockholder was listed as Treasurer of the Company.

      6. Director. So long as the Promissory Note is in effect, the Company
shall retain the Stockholder as a Director of the Company.

      7. Governing Law. This Agreement shall be governed exclusively by the laws
of the Commonwealth of Massachusetts.

      8. Notices. All notices, requests, demands, or directions hereunder shall
be in writing and deemed effective three (3) business days after sent by
registered mail, postage prepaid, or Federal Express addressed as follows:

(a)   To Stockholder:                    Gintaras Subatis
                                         59 Dayton Street
                                         Quincy, MA 02169

(b)   With copy to:                      John G. Ganick, Esq.
                                         Vacovec, Mayotte & Singer
                                         255 Washington Street, Suite 340
                                         Newton, MA 02158

(c)   To Company:                        Intrinsix Corporation
                                         ATT:  President
                                         33 Lyman Street
                                         Westboro, MA 01581

or to such other address as may be stated by one party to the other in a notice
given in the same manner herein provided.

      9. Waiver. No failure by either party to take any action or assert any
right hereunder shall be deemed to be a waiver of such right in the event of the
continuation or repetition of the circumstances giving rise to such right.

                                        2
<PAGE>

      10. Severability. If any provision of this Agreement is held by a court of
competent jurisdiction to be contrary to law, the remaining provisions of this
Agreement will remain in full force and effect.

      11. Successors. This Agreement shall be binding on and shall inure to the
benefit of the parties hereto as well as their respective heirs, executors,
successors and assigns.

      12. Assignment. Neither party shall have the right to assign or otherwise
transfer its rights or obligations under this Agreement except with the prior
written consent of the other party.

      13. Entire Agreement. This Agreement, including the Exhibits, constitutes
the entire agreement of the parties with respect to the subject matter hereof,
and supersedes all previous agreements be and between the parties as well as all
proposals, oral or written, and all negotiations, conversations or discussions
heretofore had between the parties related to the subject matter. Any
modifications or additions to this Agreement must be in writing and signed by
both parties.

      IN WITNESS WHEREOF, the parties have executed this Agreement to be
effective as of the date first written above.

STOCKHOLDER

BY: /s/ Gintaras R. Subatis
    --------------------------------

DATE: 11/22/94
      ---------

COMPANY

BY: /s/ Jim Gobes
    --------------------------------

DATE: 11/22/94
      ---------

                                        3<PAGE>

                                                                   Exhibit 10.21

                                 PROMISSORY NOTE

$502,692.00                                                 October 1, 1994

      FOR VALUE RECEIVED, INTRINSIX CORPORATION, 33 Lyman Street, Westboro,
Massachusetts 01581, ("Maker"), promises to pay to the order of GINTARAS
SUBATIS, of 59 Dayton Street, Quincy, Massachusetts 02169, the principal sum of
FIVE HUNDRED TWO THOUSAND SIX HUNDRED AND NINETY TWO 00/100 ($502,692.00)
DOLLARS, with interest thereon from the date hereof, until paid, at a rate equal
to Eight (8%) Percent per annum.

      This Note shall be payable in Ninety Six (96) monthly installments of
SEVEN THOUSAND ONE HUNDRED AND SIX 40/100 ($7,106.40) DOLLARS, commencing
October 1st, 1994 and on the first day of each calendar month thereafter until
September 1st, 2002 or until all principal and interest due hereunder are fully
paid.

      The undersigned agrees to pay all costs and expenses, including all
attorneys' fees, for the collection of this Note upon default, and to pay
interest on all amounts not paid when due (pursuant to the terms hereof, by
acceleration or otherwise) at the rate of one and one-half (1.5%) percent per
month of the overdue payment until paid in full. All payments shall be made at
such place or to such person as the Holder may from time to time designate in
writing.

      At the option of the Holder, this Note shall become immediately due and
payable upon notice or demand of the Holder, in the event that any of the
following events shall have occurred and not been cured within fifteen (15) days
thereafter: (1) Default in any payment or in the performance or observance of
the terms or conditions of a certain Stock Repurchase Agreement by and between
the undersigned and Gintaras Subatis of even date herewith (the "Agreement");
(2) Default in connection with the Security Agreement and Financing Statement
(including amendments and extensions thereof) securing this Note; (3) Such a
change in the management or ownership of Maker which causes the Holder to
believe that his risks of non-performance are increased or the sale of all or
substantially all of the assets of the Maker; (4) If the Maker makes an
assignment for benefit of creditors, or if a receiver shall be appointed or if a
petition in bankruptcy or other similar proceeding under any law for relief of
debtors shall be filed by or against the Maker; or (5) The current principal
officers of the Maker become owners or principals in a company offering services
in competition with those currently or reasonably anticipated to be offered by
the Maker.

      Any notice of default required under this Note will be given by the Holder
to the Maker by delivering it or mailing it by first class mail to the Maker's
principal place of business or at a different address if Maker gives the Holder
a notice of a different address.

      Each and every party liable hereon, either as maker, endorser, guarantor,
surety or otherwise, hereby: (1) waives presentment, demand, protest and notice
of every kind and description and specifically assents to any and all extensions
and postponements of the time of payment and all other indulgences and
forbearances which may be granted by the Holder to any party liable hereon; (2)
agrees to any substitution, exchange, release, surrender or other

<PAGE>

delivery of any collateral held hereunder and to the addition or release of any
other party or person primarily or secondarily liable; and (3) agrees that the
obligations and agreements of all such parties shall be joint and several.

      This Note may be subordinated to other Promissory Notes or Credit Lines
from an institutional lender only upon the written consent of the Holder, which
will not be unreasonably withheld. Failure to obtain the Holder's prior written
consent shall constitute a default and, at the Holder's option, Holder may
demand immediate payment in full of all sums due under this Note. If Holder
exercises its option to require immediate payment in full, the Holder shall
notify Maker as herein provided.

      No delay or omission on the part of the Holder in exercising any right
hereunder shall operate as a waiver of such right or of any other right of such
Holder, nor shall any delay, omission or waiver on any one occasion be deemed as
a bar to or waiver of the same or any other right on any future occasion.

      All property (including tangible, intangible, real, personal, and other
property of every kind, nature and description) and security delivered to or
held by the Holder as security for the payment of this Note to the Holder or any
party liable hereon, either as maker, endorser, guarantor, surety or otherwise,
or for which any such party is liable to the Holder, and all guaranties and
endorsements hereof shall be deemed (insofar as it is legally possible to do so
by agreement of the undersigned) to be security for and guaranties and
endorsements assuring the payment of this Note and all other said notes and the
performance of all said obligations and liabilities of all such parties liable
thereon to the Holder whether now existing or hereafter arising, due or to
become due, absolute or contingent, joint or several, primary or secondary.

      No single or partial exercise of any power hereunder or under the
Agreement, any security agreement securing this Note shall preclude other or
future exercise thereof or the exercise of any other power. The Holder hereof
shall at all times have the right to proceed against any portion of the security
held therefor in such order and in such manner as the Holder may see fit,
without waiving any rights with respect to any other security.

      All rights and obligations hereunder shall be governed by the laws of the
Commonwealth of Massachusetts, and this Note is executed as and shall have the
effect of a sealed instrument. Notwithstanding any provision herein or in any
instrument now or hereafter securing this Note, the total liability for payments
in the nature of interest shall not exceed the limitations now imposed by the
applicable laws of the state whose laws are controlling on the subject as shall
be determined by final order of a court of competent jurisdiction.

      This Note may be prepaid in whole or part at any time by the maker without
penalty.

<PAGE>

      IN WITNESS WHEREOF, the undersigned has executed this Note, by its
President, duly authorized this 22nd day of November, 1994.

Witness:

/s/ Mark A. Beal                          INTRINSIX CORPORATION
---------------------

                                          BY: /s/ Jim Gobes
                                              ------------------------------

                                          TITLE: President
                                                 ----------------------------

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}]]