Document:

Unassociated Document

    

      MODIFICATION
        AGREEMENT

      

      This
        Modification Agreement is made this 30th day of June, 2006, by and between
        Nayna
        Networks, Inc. a Nevada corporation, (the “Borrower”)
        and
        Tsuyoshi Taira, (the “Lender”).

      

      RECITALS

      

      WHEREAS,
        the Borrower issued that certain Convertible Promissory Note, as amended
        (the
“Note”),
        in
        the original principal amount of $99,980.00, dated April 29, 2005, in favor
        of
        the Lender;

      

      WHEREAS,
        both the Borrower and the Lender desire to modify the terms of the Note to
        reflect their mutual understanding and to extend the maturity date, each
        as set
        forth herein.

      

      NOW,
        THEREFORE, for good and valuable consideration, the receipt and adequacy
        of
        which are hereby acknowledged, the Borrower and the Lender agree to modify
        the
        terms of the Note as follows:

      

      AGREEMENT

      

      1. The
        first
        paragraph of the Note, which begins, “Nayna Networks, Inc., a Nevada...” will be
        deleted and replaced in its entirety by the following paragraph:

      

      “Nayna
        Networks, Inc., a Nevada corporation (the "Company"), for value received,
        promises to pay to Tsuyoshi Taira or
        registered assigns (“Holder”) the sum of Ninty Nine Thousand Nine Hundred
        Eighty
        dollars
        ($99,980), together
        with
        interest thereon at the rate of 8% per annum on the unpaid balance. Outstanding
        principal together with interest is due Dec 31, 2006. 

      

      2. Except
        as
        amended herein, all terms and conditions of the Note shall remain in full
        force
        and effect, unmodified in any way.

      

      4. This
        Agreement shall be governed by and construed under the laws of the State
        of
        California without respect to the principles of the choice of law or the
        conflicts of laws.

      

      IN
        WITNESS WHEREOF, the parties hereto have executed this Note Amendment Agreement
        as of the date set forth above.

      
        	 	 	 
	 	
                BORROWER:

              
	 	 
	 	
                NAYNA
                  NETWORKS, INC.

              
	 
 	 
 	 
 
	
              	By:  	 /s/
                Naveen Bisht
	 	
                

                Naveen
                  S. Bisht, President & CEO

              
	 	
              

        	 	 	 
	 	
                LENDER:

              
	 	 
	 	
                Tsuyoshi
                  Taira

              
	 
 	 
 	 
 
	
              	By:  	
                 /s/
                  Tsuyoshi Taira

              
	 	
                
Name:
	 	Title:
                

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

      MODIFICATION
        AGREEMENT

      

      This
        Modification Agreement is made this 30th day of June, 2006, by and between
        Nayna
        Networks, Inc. a Nevada corporation, (the “Borrower”)
        and
        Tsuyoshi Taira, (the “Lender”).

      

      RECITALS

      

      WHEREAS,
        the Borrower issued that certain Convertible Promissory Note, as amended
        (the
“Note”),
        in
        the original principal amount of $30,000.00, dated June 29, 2005, in favor
        of
        the Lender;

      

      WHEREAS,
        both the Borrower and the Lender desire to modify the terms of the Note to
        reflect their mutual understanding and to extend the maturity date, each
        as set
        forth herein.

      

      NOW,
        THEREFORE, for good and valuable consideration, the receipt and adequacy
        of
        which are hereby acknowledged, the Borrower and the Lender agree to modify
        the
        terms of the Note as follows:

      

      AGREEMENT

      

      1. The
        first
        paragraph of the Note, which begins, “Nayna Networks, Inc., a Nevada...” will be
        deleted and replaced in its entirety by the following paragraph:

      

      “Nayna
        Networks, Inc., a Nevada corporation (the "Company"), for value received,
        promises to pay to Tsuyoshi Taira or
        registered assigns (“Holder”) the sum of Thirty Thousand
        dollars
        ($30,000), together
        with
        interest thereon at the rate of 8% per annum on the unpaid balance. Outstanding
        principal together with interest is due Dec 31, 2006. 

      

      2. Except
        as
        amended herein, all terms and conditions of the Note shall remain in full
        force
        and effect, unmodified in any way.

      

      4. This
        Agreement shall be governed by and construed under the laws of the State
        of
        California without respect to the principles of the choice of law or the
        conflicts of laws.

      

      IN
        WITNESS WHEREOF, the parties hereto have executed this Note Amendment Agreement
        as of the date set forth above.

      
        	 	 	 
	 	
                BORROWER:

              
	 	 
	 	
                NAYNA
                  NETWORKS, INC.

              
	 
 	 
 	 
 
	
              	By:  	
                 /s/
                  Naveen Bisht

              
	 	
                

                Naveen
                  S. Bisht, President & CEO

              
	 	
              

        	 	 	 
	 	
                LENDER:

              
	 	 
	 	
                Tsuyoshi
                  Taira

              
	 
 	 
 	 
 
	
              	By:  	 /s/
                Tsuyoshi Taira
	 	
                
Name:

	 	Title:Unassociated Document

    MODIFICATION
      AGREEMENT

    

    This
      Modification Agreement is made this 30th day of June, 2006, between Nayna
      Networks, Inc. a Nevada corporation, (the “Borrower”)
      and
      MESBIC Ventures, Inc., a
      Texas
      corporation
      (the
“Lender”).

    

    RECITALS

    

    WHEREAS,
      the Borrower issued that certain Convertible Promissory Note, as amended (the
      “Note”),
      in
      the original principal amount of $125,001.00, dated August 4, 2005, in favor
      of
      the Lender;

    

    WHEREAS,
      both the Borrower and the Lender desire to modify the terms of the Note to
      reflect their mutual understanding and to extend the maturity date, each as
      set
      forth herein.

    

    NOW,
      THEREFORE, for good and valuable consideration, the receipt and adequacy of
      which are hereby acknowledged, the Borrower and the Lender agree to modify
      the
      terms of the Note as follows:

    

    AGREEMENT

    

    1. The
      first
      paragraph of the Note, which begins, “Nayna Networks, Inc., a Nevada...” will be
      deleted and replaced in its entirety by the following paragraph:

    

    “Nayna
      Networks, Inc., a Nevada corporation (the "Company"), for value received,
      promises to pay to MESBIC
      Ventures Inc. or
      registered assigns (“Holder”) the sum of One Hundred Twenty Five
      Thousand
      and One dollars ($125,001), together
      with
      interest thereon at the rate of 8% per annum on the unpaid balance. Outstanding
      principal together with interest is due the earlier of (i) December 31, 2006,
      (ii) a financing event in excess of $1,000,000.00, or (iii) a merger or
      acquisition event where more than 50% of Nayna’s securities are sold or a target
      business’s capital stock is purchased. 

    

    2. Except
      as
      amended herein, all terms and conditions of the Note shall remain in full force
      and effect, unmodified in any way.

    

    4. This
      Agreement shall be governed by and construed under the laws of the State of
      California without respect to the principles of the choice of law or the
      conflicts of laws.

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Note Amendment Agreement
      as of the date set forth above.

    
      	 	 	 
	 	
              BORROWER:

            
	 	 
	 	
              NAYNA
                NETWORKS, INC.

            
	 
 	 
 	 
 
	
            	By:  	
               /s/
                Naveen Bisht

            
	 	
              

              Naveen
                S. Bisht, President & CEO

            
	 	
            

      	 	 	 
	 	
              LENDER:

            
	 	 
	 	
              MESBIC
                Ventures, Inc.

            
	 
 	 
 	 
 
	
            	By:  	 /s/
              Divakar Kamath
	 	
              
Name:
	 	Title:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    MODIFICATION
      AGREEMENT

    

    This
      Modification Agreement is made this 30th day of June, 2006, between Nayna
      Networks, Inc. a Nevada corporation, (the “Borrower”)
      and
      MESBIC Ventures, Inc., a
      Texas
      corporation
      (the
“Lender”).

    

    RECITALS

    

    WHEREAS,
      the Borrower issued that certain Convertible Promissory Note, as amended (the
      “Note”),
      in
      the original principal amount of $50,001.00, dated October 3, 2005, in favor
      of
      the Lender;

    

    WHEREAS,
      both the Borrower and the Lender desire to modify the terms of the Note to
      reflect their mutual understanding and to extend the maturity date, each as
      set
      forth herein.

    

    NOW,
      THEREFORE, for good and valuable consideration, the receipt and adequacy of
      which are hereby acknowledged, the Borrower and the Lender agree to modify
      the
      terms of the Note as follows:

    

    AGREEMENT

    

    1. The
      first
      paragraph of the Note, which begins, “Nayna Networks, Inc., a Nevada...” will be
      deleted and replaced in its entirety by the following paragraph:

    

    “Nayna
      Networks, Inc., a Nevada corporation (the "Company"), for value received,
      promises to pay to MESBIC
      Ventures Inc. or
      registered assigns (“Holder”) the sum of Fifty Thousand
      and One dollars ($50,001), together
      with
      interest thereon at the rate of 8% per annum on the unpaid balance. Outstanding
      principal together with interest is due the earlier of (i) December 31, 2006,
      (ii) a financing event in excess of $1,000,000.00, or (iii) a merger or
      acquisition event where more than 50% of Nayna’s securities are sold or a target
      business’s capital stock is purchased.

     

    2. Except
      as
      amended herein, all terms and conditions of the Note shall remain in full force
      and effect, unmodified in any way.

    

    4. This
      Agreement shall be governed by and construed under the laws of the State of
      California without respect to the principles of the choice of law or the
      conflicts of laws.

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Note Amendment Agreement
      as of the date set forth above.

    
      	 	 	 
	 	
              BORROWER:

            
	 	 
	 	
              NAYNA
                NETWORKS, INC.

            
	 
 	 
 	 
 
	
            	By:  	
               /s/
                Naveen Bisht

            
	 	
              

              Naveen
                S. Bisht, President & CEO

            
	 	
            

      	 	 	 
	 	
              LENDER:

            
	 	 
	 	
              MESBIC
                Ventures, Inc.

            
	 
 	 
 	 
 
	
            	By:  	 /s/
              Divakar Kamath
	 	
              
Name:

	 	Title:

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