Document:

Executive Employment Agreement

 Exhibit 10.16 
  
 EMPLOYMENT AGREEMENT 
  
 THIS EMPLOYMENT AGREEMENT (this “Agreement”), dated as of May 20, 2003, is entered into by and between SigmaTel, Inc., a Texas corporation (the
“Company” or the “Employer”), and Ross A. Goolsby (the “Employee”) (either party individually, a “Party”; collectively, the “Parties”). 
  
 WHEREAS, the Employee’s employment with the Company commenced on September 10, 2001, and the Company desires to retain
the services of Employee as Associate General Counsel of the Company; and 
  
 WHEREAS, in order to induce Employee to remain employed with the Company as Chief Financial Officer, the Parties desire to enter into this Agreement to set forth the terms and conditions of Employee’s continued
employment by Employer and to address certain matters related to Employee’s continued employment with Employer; 
  
 NOW, THEREFORE, in consideration of the foregoing and the mutual provisions contained herein, and for other good and valuable consideration, the Parties
hereto agree as follows: 
  
 1. Duties and
Responsibilities. Employer agrees to continue to employ Employee, and Employee agrees to continue in the position of Chief Financial Officer of Employee. Employee shall perform the duties, services and functions relating to such employment or
otherwise reasonably incident to such employment, and such responsibilities, duties, services and functions as may be determined by the President of the Corporation (the “President) and/or Board of Directors of the Company (the
“Board”). Employee may be reassigned or transferred to another management position, as designated by the President and/or Board in accordance with the terms and conditions of this Agreement. Employee agrees to abide by all by-laws,
policies, practices, procedures, or rules of the Company. Notwithstanding the foregoing sentence, nothing in this Section 1 will prevent the Employee from engaging in activities that do not materially interfere with the Employee’s duties and
responsibilities for the Company at that time or with his personal investments or community affairs. 
  
 2. Term. The term of this Agreement shall commence on May 20, 2003 (the “Effective Date”) and shall continue for a period of three (3)
years thereafter. Notwithstanding the preceding sentence, Employee’s employment with the Company pursuant to this Agreement may be terminated by the Company at any time, with or without cause, and with or without notice. Similarly, Employee may
terminate Employee’s employment with the Company at any time, with or without cause and with or without notice. The period from the Effective Date to the termination of Employee’s employment with the Company is defined as the
“Employment Term.” 
  
 3. Location. During the
Employment Term, Employee shall serve the Company with his principal place of employment at the Company’s offices in Austin, Texas. 
  

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 4. Compensation and Employee Benefits. Upon the terms and subject to the conditions herein, the
Company will compensate Employee for his employment during the Employment Term as follows: 
  
 A. Salary. The Company will pay Employee an initial monthly Base Salary of $12,937.50 per month ($155,250 on an annualized basis),
subject to applicable withholding, in accordance with the Company’s normal payroll procedures (the “Salary”), subject to periodic (but not less often than annual) review and increase by the President and/or the Board, from time to
time. 
  
 B. Bonuses. Employee shall have
the opportunity to earn a quarterly Bonus based upon the achievement of objectives determined by the Board. The quarterly Bonus shall be paid in April, July, October, and January, with the payment of each quarter’s Bonus subject to approval by
the compensation committee of the Board. Employee’s initial quarterly Bonus shall up to $11,644 per quarter. After calendar year 2003, Employee’s Bonus opportunity will be subject to increase annually, with the level of Employee’s
Bonus opportunity for a given calendar year to be determined by the Board in January. In every case, the Bonus shall be subject to such withholdings or other deductions as may be required by applicable law. 
  
 C. Incentive, Savings and Retirement Plans. The
Company will permit the Employee to participate in other incentive, savings and retirement plans, as adopted from time to time by the Board, that are tax-qualified under Section 401(a) of the Internal Revenue Code of 1986, as amended (the
“Code”), and all plans that are supplemental to any such tax-qualified plans, in each case to the extent that such plans are applicable generally to other executives of the Company and are approved by the Board. 
  
 D. Benefits. Employee shall have the right, on the
same basis as other executives of the Company, to participate in and to receive benefits under any of the Company’s employee benefit plans, in effect from time to time. 
  
 E. Expenses. Subject to the requirements of the business expense reimbursement policies and
procedures of the Company as in effect from time to time that are approved by the Board, the Employee is authorized to incur, and the Company will reimburse the Employee for, reasonable out-of-pocket expenses in the course of performing his duties
under this Agreement including, without limitation, reasonable business meals, entertainment, travel, and cellular phone expenses. 
  
 F. Vacation and Holidays. The Company will provide to the Employee paid vacation in accordance with the plans, policies, programs
and practices of the Company, that are approved by the Board, providing not less than three (3) weeks (15 business days) vacation per year, and all legal holidays during which times Employee’s applicable compensation shall be paid in full. Paid
vacation days which are unused in any calendar year shall accrue to the next calendar year, or Employee may elect to receive additional compensation for any vacation days unused in any calendar year. 
  

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 G. Fringe Benefits. The Company will furnish to Employee those fringe benefits, if
any, offered generally to senior executives of the Company including, by way of example only, office space, computers and associated software, and reserved parking spaces that are approved by the Board. 
  
 5. Confidential Information. 
  
 As consideration for continued employment and to aid and assist Employee in
carrying out his duties, Employer agrees to provide to Employee non-public and Confidential Information (as hereinafter defined) about Employer, which in the reasonable judgment of Employer would assist Employee in the performance of his duties. For
the purposes of this Agreement, the term “Confidential Information” shall mean information of any nature, in any form, and from any source which at the time or times concerned is not generally known or available to the public or to persons
engaged in business similar to that conducted or contemplated by the Employer, and includes, without limitation, customer lists or information relating to clients or customers, trade secrets, processes, inventions, discoveries, developments,
modifications, improvements, ideas, know-how, techniques, designs, data, programs, processes, formulae, code and all other work products, marketing or pricing strategies, marketing efforts, internal cost and profit information, information related
to Employer personnel and other confidential and non-public information relating to the Employer, its employees, affiliates, clients, and customers. Employee agrees that he will not, either during the Employment Term or for a one (1) year period
time thereafter, divulge or appropriate for his own use or the use of others or disclose to any unauthorized person, firm or corporation any Confidential Information, and Employee confirms that such information constitutes the exclusive property of
Employer. 
  
 6. Change in Control. 
  
 A. For purposes of this Agreement, “Change in Control” shall mean:
(i) The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if more than 50% of the combined voting power of the continuing or surviving entity’s securities outstanding
immediately after such merger, consolidation or other reorganization is owned by persons who were not stockholders of the Company immediately prior to such merger, consolidation or other reorganization; or (ii) The sale, transfer or other
disposition of all or substantially all of the Company’s assets. A transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Company’s incorporation or to create a holding company that will be
owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction. 
  
 B. In the event of a Change in Control of the Company, the Company may assign this Agreement and all of its rights and obligations hereunder to the
acquiring or surviving person or entity; provided that such surviving person or transferee entity shall assume in writing all of the obligations of the Company hereunder; and provided further that whether or not such person or entity so assumes
those obligations, the Employee’s rights hereunder will continue as provided by contract or law. 
  

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 7. Termination of Employment. 
  
 A. For Due Cause. 
  
 (i) If the Company has Due Cause (as hereinafter defined) to terminate the Employee’s employment, the Company will be entitled to
terminate the Employee’s employment at any time by delivering written notice of that termination to the Employee, in which event (a) that termination will be effective immediately on the date specified in that notice, (b) the Company will only
be obligated to pay to the Employee his Salary accrued and unpaid to the date of that termination; and (c) all the rights and benefits the Employee may have under the employee benefit, vacation, bonus and/or incentive plans and programs of the
Company, that shall have been approved or adopted by the Board, if any, will be determined in accordance with the terms and conditions of those plans and programs; 
  
 (ii) “Due Cause” means: 
  
 (a) the Employee has committed a willful serious act, such as fraud, embezzlement or theft, against the
Company, intending to enrich himself at the expense of the Company; 
  
 (b) the Employee has been convicted of a felony involving the Employee’s intentionally engaging in conduct that is demonstrably materially injurious to the Company, and has exhausted all opportunities for appeal
of such conviction; 
  
 (c) the Employee, in
carrying out his duties hereunder, has been guilty of gross neglect or willful misconduct; 
  
 (d) the Employee has materially breached this Agreement by repeatedly failing to follow the reasonable instructions of the President of
the Corporation and/or the Board of Directors of the Corporation in the performance of Employee’s duties hereunder and has failed to remedy that breach within fifteen (15) days after receipt of written notice from the Company that the breach
has occurred. 
  

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 B. General Power. The Company may terminate the Employee’s employment at any
time by providing written notice of that termination to the Employee, in which event: 
  
 (i) the Company will pay to Employee his Salary and any Bonus accrued and unpaid to the date his employment terminates; 
  
 (ii) the Company will pay to Employee his Salary at the
rate in effect on the date of his employment termination, less applicable withholding, for the longer of (i) four (4) months following his termination, or (ii) six (6) weeks of Salary for each year or partial year (up to a maximum of five (5) years)
of Employee’s employment with the Company (both the Company and the Employee acknowledge that Employee’s employment with the Company commenced on September 10, 2001); 
  
 (iii) the Company will pay premiums for Employee’s COBRA coverage, for the longer of (i) six (6)
months following his termination, or (ii) six (6) weeks of COBRA premium payments for each year or partial year of Employee’s employment with the Company; 
  

(iv) the Company will pay to Employee 100% of the quarterly Bonus targeted for Employee as described in Section 4.B above for the next
calendar quarter year following the date on which the termination occurs; 
  
 (v) all the rights and benefits Employee may have under the employee benefit, vacation, and/or incentive plans and programs, if any, of the Company, will be administered in accordance with the terms and conditions of
those plans and programs; 
  
 (vi) if the
termination is in connection with a Change in Control or occurs after the consummation of a Change in Control, then on the effective date of the termination, the vesting and/or exercisability schedules under any then outstanding stock option
agreements, restricted stock purchase agreement, or other equity compensation agreement between the Company and Employee shall automatically accelerate by a twenty-four month (24) period, so that all stock options, restricted shares of stock, and/or
other equity compensation issued to Employee which would have otherwise, if not for this Section 7.B(vii), been scheduled to vest or be exercisable over the twenty four (24) month period immediately following the date of termination shall instead
automatically vest or become exercisable effective immediately prior to the date of termination. Without limitation of the foregoing provisions of this Section 7.B(vii), this Section 7.B(vii) applies to the vesting and/or exercisability schedule of
(1) the “Incentive Stock Option Agreement” entered into between the Company and Employee effective September 18, 2001, (2) the “Incentive Stock Option Agreement” entered into between the Company and Employee effective March 18,
2003, and (3) the “Stock Option Agreement” entered into between the Company and the Employee effective March 18, 2003. 
  
 Those benefits under subsection (i) - (vii) of this Section 7B together are referred to as the “Severance Benefits.” If Employee dies following
termination under this Section 7B, but before the full payment of all Severance Benefits due under this Agreement, the remaining Severance Benefits will be paid to the estate of Employee. 
  

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 C. Employee Termination Rights. 
  
 (i) General Power. The Employee may voluntarily
terminate his employment with the Company at any time by providing prior written notice to the Company, in which event the Company will pay to the Employee his Salary and all other benefits and compensation accrued and unpaid to the date of
termination of his employment. 
  
 (ii)
Contractual Grounds. Nothing in this Agreement prevents Employee from terminating his employment with the Company at any time by delivery of written notice of that termination to the Company. However, if Employee terminates his employment
with the Company, Employee will only be entitled to Severance Benefits under this Section 7.C if Employee has Contractual Grounds (as defined hereinafter) to terminate his employment. If the Employee has Contractual Grounds (as defined hereinafter)
to terminate his employment, the Employee will be entitled to terminate his employment at any time by delivering written notice of that termination to the Company; 
  
 (iii) “Contractual Grounds” means: 
  
 (a) the Company reassigns Employee to a position either (1) involving a material reduction in the nature,
character or responsibility of his position or (2) with a lower Salary than his prior position; or 
  
 (b) the Company assigns Employee to a position that requires Employee to relocate his residence away from the Austin, Texas area.

  
 Upon any termination under this Section 7C, Company shall pay
Employee those Severance Benefits described in Section 7B. If Employee dies following termination under this Section 7C, but before full payment of all Severance Benefits under this Agreement, the remaining Severance Benefits will be paid to the
estate of Employee. 
  
 D. Due to Death.
If the Employee dies, the Employee’s employment shall terminate on the date of death, in which event: 
  
 (iii) the estate of the Employee shall be entitled to all of Employee’s rights under this Agreement; and 
  
 (iv) all other rights and benefits the Employee (or his
estate) may have under the employee benefit, vacation, bonus and/or incentive plans and programs of 

  

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the Company that shall have been approved or adopted by the Board, if any, shall be determined in accordance with the terms and conditions of those plans and
programs but which, in any event, will continue in effect for benefit of the immediate family of Employee for a minimum period of two (2) months from date of death (unless a longer period is mandated by any state or federal law). 
  
 8. Notices. All notices, requests, demands and other communications
given under or by reason of this Agreement shall be in writing and shall be deemed given when delivered in person or when mailed, by certified mail (return receipt requested), postage prepaid, addressed as follows (or to such other address as a
party may specify by notice pursuant to this provision): 
  
 A. If to the Company: to the principal business office of the Company. 
  
 B. If to the Employee: to the home address of the Employee as specified in the Company’s records. 
  
 9. Governing Law and Forum. The Parties consent that this Agreement
shall be governed by and construed in accordance with the substantive laws (other than the rules governing conflicts of laws) of the State of Texas. 
  
 10. Additional Instruments. The Employee and the Company shall execute and deliver any and all additional instruments and agreements that may be
necessary or proper to carry out the purposes of this Agreement. 
  
 11. Entire Agreement and Amendments. This Agreement contains the entire agreement of the Employee and the Company relating to the matters contained herein and supersedes all prior agreements and understandings, oral or written,
between the Employee and the Company with respect to the subject matter hereof. This Agreement may not be amended or modified except by an agreement in writing signed by both parties. 
  
 12. Headings. The headings of sections and subsections hereof are included solely for convenience of reference and
shall not control the meaning or interpretation of any of the provisions of this Agreement. 
  
 13. Tax Withholding. Notwithstanding any other provision hereof, the Company may withhold from amounts payable hereunder all federal, state, local and foreign taxes that are required to be withheld by
applicable laws or regulations. 
  
 14. Separability. If
any provision of this Agreement is rendered or declared illegal, invalid or unenforceable by reason of any existing or subsequently enacted legislation or by the final judgment of any court of competent jurisdiction, the Employee and the Company
shall promptly meet and negotiate substitute provisions for those rendered or declared illegal or unenforceable to preserve the original intent of this Agreement to the extent legally possible, but all other provisions of this Agreement shall remain
in full force and effect. 
  

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 15. Non-assignment by Employee. The obligations of the Employee under this Agreement are personal
to him, and no such obligations shall be subject to voluntary or involuntary alienation, assignment or transfer, except as otherwise contemplated hereby. 
  
 16. Effect of Agreement. Subject to the provisions of Sections 6 and 15 with respect to assignments, this Agreement shall be binding upon the
Employee and his heirs, executors, administrators and legal representatives and upon the Company and its legal representatives, successors and permitted assigns, except as otherwise contemplated hereby. 
  
 17. Execution. This Agreement may be executed in multiple
counterparts, each of which shall be deemed an original and all of which shall constitute one and the same instrument. 
  
 18. Waiver of Breach. The failure by any party to enforce any of its rights hereunder shall not be deemed to be a waiver of such rights, unless
such waiver is an express written waiver which has been signed by the waiving party. The waiver by either party to this Agreement of a breach of any provision of the Agreement by the other party shall not operate or be construed as a waiver by such
party of any subsequent breach by such other party. 
  
 19.
Word Usage. Words used in the masculine shall apply to the feminine where applicable. 
  
 (Signature Page Follows) 
  

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 IN WITNESS WHEREOF, the Employee and the Company have executed this Employment Agreement as of the
Effective Date. 
  

	 SIGMATEL, INC.
	 	 	 	 ROSS A. GOOLSBY

				
	 By:
	 	 /s/ Ronald P. Edgerton

	 	 	 	 /s/ Ross A. Goolsby

	 	 	 Ronald P. Edgerton, President
	 	 	 	 Ross A. Goolsby

  

 9Prepared by R.R. Donnelley Financial -- Form of Warrant to Purchase Common Stock

 Exhibit 4.1 
  

WARRANT 
  
 WARRANT NO.          
  
 THIS WARRANT OR THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THIS WARRANT, OR THE SHARES ISSUABLE HEREUNDER, MAY
NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT OR THE AVAILABILITY OF AN EXEMPTION FROM REGISTRATION THEREUNDER. 
  
 EXTREME NETWORKS, INC. 
  
 WARRANT TO PURCHASE COMMON STOCK 
 Void after
October 30, 2013 
  
 This certifies that, for value received,
Avaya Inc. or registered assigns (“Holder”) is entitled, subject to the terms set forth below, to purchase from Extreme Networks, Inc. (the “Company”), a Delaware corporation, up to 2,577,794 shares (such number of shares being
referred to herein as the “Original Amount”) of the Common Stock of the Company (the “Common Stock”), as constituted on the date hereof (the “Warrant Issue Date”), upon surrender hereof, at the principal office of the
Company referred to below, with the notice of exercise form attached hereto duly executed, and simultaneous payment therefor in lawful money of the United States or otherwise as hereinafter provided, at the Exercise Price as set forth in Section 2
below. The Original Amount, character and Exercise Price of such shares of Common Stock are subject to adjustment as provided below. The term “Warrant” as used herein shall include this Warrant, and any warrants delivered in substitution
or exchange therefor as provided herein. 
  
 1.    TERM
OF WARRANT. 
  
 (a) Subject to the terms and conditions
set forth herein and compliance with any applicable regulatory requirements, this Warrant shall be exercisable only pursuant to the schedule provided in that certain Joint Development Agreement dated as of October 30, 2003 between the Company and
Holder (the “Joint Development Agreement”) and ending at 5:00 p.m., Pacific time, on October 30, 2013 (the “Expiration Date”). 
  
 (b) In the event that the Expiration Date of this Warrant falls on a day that is not a Business Day, the Expiration Date shall be adjusted to the Business
Day immediately following such Expiration Date. As used herein, the term “Business Day” means each day other than a Saturday, Sunday or other day on which banks in the location of the principal office of the Company are legally authorized
to close. 
  
 2.    EXERCISE PRICE. The
Exercise Price at which this Warrant may be exercised shall be $0.01 per share of Common Stock (the “Exercise Price”). 
  
 3.    EXERCISE OF WARRANT. 
  
 (a) The purchase rights represented by this Warrant are exercisable by the Holder in whole or in part subject to compliance with applicable regulatory
requirements, at any time and from time to time, during the term hereof as described in Section 1 above, by the surrender of this Warrant and the Notice of Exercise annexed hereto duly completed and executed on behalf of the Holder, at the office of
the Company (or such other office or agency of the Company as it may designate by notice in writing to the Holder at the address of the Holder appearing on the books of the Company). In the case of an exercise under Section 1, the form of the public
announcement of “EOS” referred to in the Joint Development Agreement shall be attached to the Notice of Exercise. 
  
 (b) This Warrant shall be deemed to have been exercised immediately prior to the close of business on the date of its surrender for exercise as provided
above, and the person entitled to receive the shares of Common 

 Stock issuable upon such exercise shall be treated for all purposes as the holder of record of such shares as of the
close of business on such date. As promptly as practicable on or after such date and in any event within ten (10) days thereafter, the Company, at its expense, shall issue and deliver to the person or persons entitled to receive the same a
certificate or certificates for the number of shares issuable upon such exercise. In the event that this warrant is exercised in part, the Company, at its expense, will execute and deliver a new Warrant of like tenor exercisable for the number of
shares equal to the remaining Original Amount. 
  
 4.    [intentionally omitted] 
  
 5.    REPLACEMENT OF WARRANT. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or
destruction, on delivery of an indemnity agreement reasonably satisfactory in form and substance to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the Company at its expense shall execute and deliver, in
lieu of this Warrant, a new warrant of like tenor and amount. 
  
 6.    NO RIGHTS AS STOCKHOLDER. Subject to Sections 9 and 11 of this Warrant, the Holder shall not be entitled to vote or receive dividends by virtue of this Warrant or be deemed the holder of Common
Stock by virtue of this Warrant, nor shall anything contained herein be construed to confer upon the Holder, as such, any of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted
to stockholders at any meeting thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization, issuance of stock, reclassification of stock, change of par value, or change of stock to no par value, consolidation,
merger, conveyance, or otherwise) or to receive notice of meetings, or to receive dividends or subscription rights or otherwise until the Warrant shall have been exercised as provided herein. 
  
 7.    TRANSFER OF WARRANT. As this Warrant is issued
in furtherance of the relationship between the Company and the initial Holder, this Warrant may not be transferred to anyone without the prior written approval of the Company, which approval may be withheld for any reason, and subject to Holder
executing the Assignment Form annexed hereto and delivery in the same manner as a negotiable instrument transferable by endorsement and delivery; provided, however, that with respect to any portion of this Warrant that becomes exercisable pursuant
to Section 1(a), such portion of the Warrant may be transferred to a Permitted Transferee (as defined in the Joint Development Agreement) or to any other transferee (so long as at any given time there are no more than a total of two transferees who
are not Permitted Transferees holding any portion of the Warrant that is exercisable). 
  
 (a) The Company will maintain a register (the “Warrant Register”) containing the names and addresses of the Holder or Holders. Any Holder of this Warrant or any portion thereof may change his address as
shown on the Warrant Register by written notice to the Company requesting such change. Any notice or written communication required or permitted to be given to the Holder may be delivered or given by mail to such Holder as shown on the Warrant
Register and at the address shown on the Warrant Register. Until this Warrant is transferred on the Warrant Register of the Company, the Company may treat the Holder as shown on the Warrant Register as the absolute owner of this Warrant for all
purposes, notwithstanding any notice to the contrary. 
  
 (b) The
Company may, by written notice to the Holder, appoint an agent for the purpose of maintaining the Warrant Register referred to in Section 7(a) above, issuing the Common Stock or other securities then issuable upon the exercise of this Warrant,
exchanging this Warrant, replacing this Warrant, or any or all of the foregoing. Thereafter, any such registration, issuance, exchange, or replacement, as the case may be, shall be made at the office of such agent. 
  
 (c) On surrender of this Warrant for exchange, properly endorsed on the
Assignment Form and subject to the provisions of this Warrant with respect to compliance with the Securities Act of 1933, as amended (the “Act”) and with the limitations on assignments and transfers contained in this Section 7, the Company
at its expense shall issue to or on the order of the Holder a new warrant or warrants of like tenor, in the name of the Holder or as the Holder (on payment by the Holder of any applicable transfer taxes) may direct, for the number of shares issuable
upon exercise hereof. 
  
 (d) The Holder of this Warrant, by
acceptance hereof, acknowledges that the Holder will not offer, sell or otherwise dispose of this Warrant or any shares of Common Stock to be issued upon exercise hereof except in compliance with the registration requirements of the Act, subject,
nevertheless, to the disposition of the Holder’s property being at all times within its control. 
  

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 (e) This Warrant and all shares of Common Stock issued upon exercise hereof (unless registered under the
Act) shall be stamped or imprinted with a legend in substantially the following form: 
  
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. SUCH SECURITIES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID
ACT OR THE AVAILABILITY OF AN EXEMPTION FROM REGISTRATION THEREUNDER. 
  
 8.    RESERVATION OF STOCK; STOCK FULLY PAID. The Company covenants that during the term this Warrant is exercisable, the Company will reserve from its authorized and unissued Common Stock a
sufficient number of shares to provide for the issuance of Common Stock upon the exercise of this Warrant and, from time to time, will take all steps necessary to amend its Certificates of Incorporation (the “Certificates”) to provide
sufficient reserves of shares of Common Stock issuable upon exercise of the Warrant and will refrain from effecting any amendment to the Certificates which in any manner would affect the rights or privileges of the holders of its Common Stock. The
Company further covenants that all shares that may be issued upon the exercise of rights represented by this Warrant, upon exercise of the rights represented by this Warrant and payment of the Exercise Price, all as set forth herein, will be duly
authorized, validly issued, fully paid and nonassessable, and free from all taxes, liens and charges in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously). The Company agrees that its issuance of
this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for shares of Common Stock upon the exercise of this Warrant. 
  
 9.    NOTICES.  
  
 (a) Whenever the number of shares purchasable hereunder shall be adjusted
pursuant to Section 11 hereof, the Company shall issue a certificate signed by its chief financial officer setting forth, in reasonable detail, the event requiring the adjustment, the amount of adjustment and the method by which such adjustment was
calculated and shall cause a copy of such certificate to be mailed (by first-class mail, postage prepaid) to the Holder of this Warrant. 
  
 (b) In case: (i) the Company shall take a record of the holders of its Common Stock (or other stock or securities at the time receivable upon the exercise
of this Warrant) for the purpose of entitling them to receive any dividend or other distribution, or any right to subscribe for or purchase any shares of stock of any class or any other securities, or to receive any other right, or 
  
         (ii) of any capital
reorganization of the Company, any stock split or subdivision, or reverse stock split or combination, or any similar event involving the Common Stock, any reclassification of the capital stock of the Company, any consolidation or merger of the
Company with or into another corporation, or any sale, transfer or other conveyance of all or substantially all of the assets of the Company to another corporation, or 
  
         (iii) of any voluntary dissolution, liquidation or winding-up of the
Company, then, and in each such case, the Company will mail or cause to be mailed to the Holder or Holders a notice specifying, as the case may be, (A) the distribution or right, and stating the amount of character of such dividend, distribution or
right, or (B) the date on which a record is to be taken for determining stockholders entitled to vote upon such reorganization, reclassification, consolidation, merger, conveyance, dissolution, liquidation or winding-up is to take place, and the
time, if any is to be fixed, as of which the holders of record of Common Stock (or such stock or securities at the time receivable upon the exercise of this Warrant) shall be entitled to exchange their shares of Common Stock (or such other stock or
securities) for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, conveyance, dissolution, liquidation or winding-up. Such notice shall be mailed at least 20 days prior to the date therein
specified. 
  

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 (c) All such notices, advices and communications shall be deemed to have been received (i) in the case of
personal delivery, on the date of such delivery and (ii) in the case of mailing, on the third business day following the date of such mailing. 
  
 10.    AMENDMENTS. 
  
 (a) This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which
enforcement of such change, waiver, discharge or termination is sought. 
  
 (b) No waivers of, or exceptions to, any term, condition or provision of this Warrant, in any one or more instances, shall be deemed to be, or construed as, a further or continuing waiver of any such term, condition or provision.

  

	11.    ADJUSTMENTS.	

  
 (a) The number of shares purchasable hereunder shall be subject to adjustment from time to time as follows: 
  
         (i) In case of any reclassification or change of outstanding shares of Common Stock (except a split or
combination, or a change in par value, or a change from par value to no par value, or a change from no par value to par value), or in case of any consolidation or merger to which the Company is a party (other than a consolidation or merger that
results in the termination of this Warrant under Section 1 or in which the Company is the surviving corporation and which does not result in any reclassification or change in the outstanding Common Stock of the Company) or any sale, transfer or
other conveyance of all or substantially all of the Company’s assets, the Company, or its successor, as the case may be, shall assume, by written instrument executed and delivered to the registered holder of this Warrant at such Holder’s
address shown on the registration books of the Company the obligation to deliver to the Holder of this Warrant, upon due exercise thereof, the kind and amount of stock and other securities and property receivable upon such reclassification, change,
consolidation, merger, sale, transfer or conveyance by a Holder of the number of shares which would have been issued to such Holder had this Warrant been exercised immediately prior thereto. 
  
         As evidence of the kind and
amount of stock or other securities or property which shall be issuable upon the exercise of this Warrant after any such reclassification, change, consolidation, merger, sale, transfer or conveyance, the Company shall maintain in its records at its
principal office a certificate of any firm or independent public accountants (who may be the regular auditors retained by the Company) with respect thereto. 
  
         The provisions of this clause (i) shall similarly apply to successive reclassifications, changes,
consolidations, mergers, sales, transfers or conveyances. 
  
         (ii) Irrespective of any adjustments in the number of shares or the number or kind of other securities purchasable upon exercise of this Warrant, this Warrant or any Warrant thereafter issued
may continue to express the same price and number and kind of shares as are stated in the Warrant initially issued by the Company. 
  
 (b) In the event that the Company (i) issues as a dividend or other similar distribution (an “Extraordinary Dividend”) on all of its then
outstanding Common Stock, (A) securities of the Company of a class other than Common Stock, (B) rights, warrants or options (individually, a “Right” and collectively, the “Rights”) to acquire any securities of the Company
(including Common Stock) or (C) evidences of its indebtedness or assets (any securities (other than Rights) issued as an Extraordinary Dividend or issued upon exercise of any Rights issued as an Extraordinary Dividend shall be referred to as
“Dividend Securities”): 
  
         (x) this Warrant shall thereafter be exercisable for (1) the Original Amount of shares of Common Stock (subject to adjustment as herein provided), (2) such Dividend Securities and Rights would
theretofore have been issued in respect of such shares (adjusted as herein provided) had such shares been outstanding at the time of such Extraordinary Dividend; and 
  

 4 

         (y) any Right issued as an Extraordinary Dividend shall
(1) expire upon the later of (a) the original expiration date of such Right or (b) the 180th day following the exercise of this Warrant, and (2) be exercisable for the Dividend Securities issuable upon exercise of such Right. 
  
 (c) If any event occurs as to which in the opinion of the Board of Directors
of the Company the other provisions of this Section 11 are not strictly applicable or if strictly applicable would not adequately protect from dilution the exercise rights of the Holder in accordance with the intent and principles of such
provisions, then the Board of Directors of the Company shall make an equitable adjustment in the application of such provisions, in accordance with such intent and principles of such provisions, so as to protect such exercise rights as aforesaid,
but in no event shall such adjustment have the effect of increasing the Exercise Price. 
  
 12.    TAXES. The issue of any stock or other certificate upon the exercise of this Warrant shall be made without charge to the Holder for any documentary, stamp or similar tax in respect of the
issue of such stock or certificate. 
  
 13.    VALID ISSUANCE. Company represents to Holder that this Warrant and the shares of Common Stock issuable upon the exercise of this Warrant have been duly authorized by all necessary corporate
actions, this Warrant has been duly executed and delivered and constitutes a legally binding agreement of the Company enforceable in accordance with the terms hereof, the Company has reserved out of its authorized and unissued shares of Common Stock
a number of shares sufficient to provide for the exercise of the rights represented by this Warrant, and the shares of Common Stock issuable upon exercise of this Warrant, when issued in accordance with the terms hereof, will be validly issued,
fully paid and nonassessable. 
  
 14.    GOVERNING LAW. This Warrant shall be governed by, construed, and enforced in accordance with the laws of the State of Delaware without reference to its principles of conflicts of law.

  
 IN WITNESS WHEREOF, Extreme Networks, Inc. has caused this
Warrant to be executed by its officers thereunto duly authorized. 
  
 Dated as of:
October 30, 2003 
  

			
	EXTREME NETWORKS, INC.
		
	By:	 	 
	 	 	

	 	 	 

  

 5 

 NOTICE OF EXERCISE 
  
 To: Extreme Networks, Inc. 
  
 (1) The undersigned hereby elects to purchase
                         shares of Common Stock of Extreme Networks, Inc., pursuant to the terms of the attached Warrant, and
tenders herewith payment of the purchase price for such shares in full. 
  
 (2) Please issue a certificate or certificates reasserting said shares of Common Stock in the name of the undersigned or in such other name as is specified below: 
  
  

 (Name) 
  

 (Address) 
  
 (3) Please issue a new Warrant for the
unexercised portion of the attached Warrant in the name of the undersigned or in such other name as is specified below: 
  

 (Name) 
  
  

					
	
 (Date)
	 	 	 	
 (Signature)

	 	 	 	 	 

  

 6 

 FORM OF ASSIGNMENT 
  
 FOR VALUE RECEIVED, the undersigned registered owner of this Warrant hereby sells, assigns and transfers unto the Assignee
named below all of the rights of the undersigned under the within Warrant, with respect to the number of shares of Common Stock set forth below: 
  

					
	Name of Assignee	 	Address	 	No. of Shares

  
  
  
  
  
 and does hereby irrevocably constitute and appoint Attorney              to make such transfer on the books of
Extreme Networks, Inc., maintained for the purpose, with full power of substitution in the premises. 
  

									
	 	 	 	 	 
					
	Dated:	 	 	 	 	 	 	 	 
	 	 	
	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
					
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 	Signature of Holder

  

 7

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