Document:

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                                                                    Exhibit 4.3

        THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED,
ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT
UNDER SUCH ACT COVERING SUCH SECURITIES, THE TRANSFER IS MADE IN COMPLIANCE WITH
RULE 144 PROMULGATED UNDER SUCH ACT OR THE COMPANY RECEIVES AN OPINION OF
COUNSEL FOR THE HOLDER OF THESE SECURITIES REASONABLY SATISFACTORY TO THE
COMPANY, STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT
FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.

                             GADZOOX NETWORKS, INC.
                 AGREEMENT AND WARRANT TO PURCHASE COMMON STOCK
                          EFFECTIVE DATE: MAY 25, 2001
                            Void After: May 25, 2004

        This Agreement and Warrant to Purchase Common Stock (this "Agreement" or
"Warrant") certifies that, for value received, Shoreline Pacific Equity Ltd., a
California corporation (the "Holder") is entitled, subject to the terms set
forth below, to purchase from Gadzoox Networks, Inc., a Delaware corporation
(the "Company"), 168,000 shares of the Common Stock of the Company, upon
surrender hereof, at the principal office of the Company referred to below, with
the subscription 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 number,
character and Exercise Price of such shares of Common Stock are subject to
determination and adjustment as provided below.

        1. NUMBER OF SHARES. This Warrant may be exercised, in whole or in part,
for 168,000 shares of Common Stock of the Company (the "Warrant Shares").

        2. EXERCISE PRICE. The per share purchase price of the Common Stock (the
"Exercise Price") for which this Warrant may be exercised shall be $4.14 per
share.

        3. EXERCISE OF WARRANT.

           3.1 Time of Exercise. Subject to the terms and conditions set forth
herein, this Warrant shall be exercisable, in whole or in part, at any time and
from time to time on or before May 25, 2004; provided, however, that this
Warrant shall terminate upon the earlier to occur of the following (each, a
"Change of Control Event") (i) a merger or consolidation of the Company with or
into any other corporation or corporations in which the stockholders of the
Company immediately prior to the consummation of such transaction shall own less
than fifty percent (50%) of the voting securities of the surviving corporation
or (ii) a sale of all or substantially all of the assets of the Company (the
"Term"). The Company shall give each Holder written notice of an impending
Change of

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Control Event not later than ten (10) business days prior to the closing of such
Change of Control Event which notice shall describe the material terms and
conditions of the transaction. The exercise shall be effected by (a) the
surrender of this Warrant at the principal office of the Company as set forth in
Section 14.5 (or such other office or agency of the Company as may be designated
by notice in writing to the Holder at the address of such Holder appearing on
the books of the Company), (b) delivery of the Notice of Exercise attached
hereto as Exhibit A and (c) except as otherwise provided in paragraph 4.1
hereof, payment of the Exercise Price in cash or by check acceptable to the
Company.

           3.2 Effect of Exercise. This Warrant (or the portion thereof
exercised) 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, 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 and, unless this Warrant shall
have expired, a new warrant representing the number of warrants represented by
the surrendered Warrant, if any, that shall not have been exercised shall also
be delivered to the Holder.

        4. RIGHT TO CONVERT WARRANT.

           4.1 Conversion Right. In lieu of the payment set forth in paragraph
3.1(c) above, the Holder shall have the right to convert this Warrant ( the
"Conversion Right") at any time during the Term into shares of Common Stock as
provided for in this Section 4. Upon exercise of the Conversion Right, the
Company shall deliver to the Holder (without payment by the Holder of any
Exercise Price) that number of shares of Common Stock equal to the quotient
obtained by dividing (x) the value of the Warrant at the time the Conversion
Right is exercised (determined by subtracting the aggregate Exercise Price for
the Warrant Shares to be converted in effect immediately prior to the exercise
of the Conversion Right from the aggregate Fair Market Value, as defined below,
for the Warrant Shares to be converted immediately prior to the exercise of the
Conversion Right) by (y) the Fair Market Value of one share of the Warrant
Shares immediately prior to the exercise of the Conversion Right.

           4.2 Exercise of the Conversion Right. Such exercise shall be effected
by (a) the surrender of this Warrant at the principal office of the Company as
set forth in Section 14.5 (or such other office or agency of the Company as may
be designated by notice in writing to the Holder at the address of such Holder
appearing on the books of the Company) and (b) delivery of the Notice of
Conversion attached hereto as Exhibit B at the office of the Company.

           4.3 Effect of Conversion. This Warrant shall be deemed to have been
converted immediately prior to the close of business on the date of its
surrender for conversion as provided above, and the person entitled to receive
the shares of Common Stock issuable upon such conversion 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, but not later
than three (3) business days following the conversion of this Warrant pursuant
to Section 4.2 hereof, 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 conversion.

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           4.4 Value. The Fair Market Value of one Warrant Share as of a
particular date (the "Determination Date") shall mean the Fair Market Value of
one share of the Company's Common Stock as of such Determination Date. The Fair
Market Value of a share of Common Stock as of a Determination Date shall mean:

               (a) If the Company's Common Stock is traded on an exchange or is
quoted on the National Association of Securities Dealers, Inc. Automated
Quotation ("NASDAQ") National Market System or the NASDAQ SmallCap Market, then
the average of the high and the low prices of the Company's Common Stock for
five trading days before the Determination Date.

               (b) If the Company's Common Stock is not traded on an exchange,
the NASDAQ National Market System or the NASDAQ SmallCap Market, but is traded
in the over-the-counter market, then the mean of the closing bid and asked
prices reported for the business day immediately preceding the Determination
Date.

               (c) Otherwise, as determined in good faith by the Company's Board
of Directors upon a review of relevant factors.

        5. NO FRACTIONAL SHARES OR SCRIP. No fractional shares or scrip
representing fractional shares shall be issued upon the exercise of this
Warrant. In lieu of any fractional share to which the Holder would otherwise be
entitled, the Company shall make a cash payment equal to the Exercise Price
multiplied by such fraction computed to the nearest whole cent.

        6. NO RIGHTS AS STOCKHOLDER. The Holder shall not be entitled to vote or
receive dividends or be deemed the holder of Common Stock or any other
securities of the Company that may at any time be issuable on the exercise
hereof for any purpose, 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 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.

           7.1 Register. The Company will maintain a register (the "Warrant
Register") containing the name and address of the Holder. The Holder of this
Warrant 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 the 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.

           7.2 Restricted Transferability of Warrant. The Holder shall not sell,
assign or otherwise transfer the Warrant or any part thereof or right thereunder
to any person or entity. Notwithstanding the foregoing, Shoreline Pacific Equity
Ltd. (the "Original Holder") may transfer

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this Warrant, in whole or in part, to one or more individual employees of the
Original Holder pursuant to the Original Holder's employee bonus plan; provided
however, that the Original Holder may not transfer this Warrant to more than ten
(10) employees and, provided further, that no transferee hereof may further
transfer this Warrant without the Company's prior written consent.

        8. REPRESENTATIONS AND WARRANTIES OF THE HOLDER AND RESTRICTIONS ON
TRANSFER IMPOSED BY THE SECURITIES ACT AND CALIFORNIA LAW.

           8.1 Representations and Warranties by the Holder. The Holder hereby
represents and warrants to the Company as follows:

               (a) The Warrant and the Warrant Shares are being acquired for the
Holder's own account, for investment and not with a view to, or for resale in
connection with, any distribution or public offering thereof within the meaning
of the Securities Act or the laws of the State of California.

               (b) Holder understands that the Warrant and the Warrant Shares
have not been registered under the Securities Act by reason of their issuance in
a transaction exempt from the registration and prospectus delivery requirements
of the Securities Act pursuant to Section 4(2) thereof, that the Warrant and the
Warrant Shares must be held by the Holder indefinitely, and that the Holder must
therefore bear the economic risk of such investment indefinitely, unless a
subsequent disposition thereof is registered under the Securities Act or is
exempt from registration. The Company has committed to register the Warrant
Shares pursuant to a separate agreement.

               (c) The Holder further understands that the sale of the
securities which are the subject of this Agreement has not been qualified with
the Commissioner of Corporations of the State of California and the issuance of
such securities or the payment or receipt of any part of the consideration
therefor prior to such qualification is unlawful unless an exemption from such
qualification is available. The rights of all parties to this Agreement are
expressly conditioned upon such qualification being obtained, or such exemption
being available.

               (d) During the negotiation of the transactions contemplated
herein, the Holder and its representatives and legal counsel have been afforded
full and free access to corporate books, financial statements, records,
contracts, documents, and other information concerning the Company and to its
offices and facilities, have been afforded an opportunity to ask such questions
of the Company's officers, employees, agents, accountants and representatives
concerning the Company's business, operations, financial condition, assets,
liabilities and other relevant matters as they have deemed necessary or
desirable, and have been given all such information as has been requested, in
order to evaluate the merits and risks of the prospective investments
contemplated herein.

               (e) The Holder and its representatives have been solely
responsible for the Holder's own "due diligence" investigation of the Company
and the Company's management and business, for its own analysis of the merits
and risks of this investment, and for its own analysis of

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the fairness and desirability of the terms of the investment. In taking any
action or performing any role relative to the arranging of the proposed
investment, the Holder has acted solely in its own interest, and the Holder (or
any of its agents or employees) has not acted as an agent of the Company. The
Holder has such knowledge and experience in financial and business matters that
the Holder is capable of evaluating the merits and risks of the purchase of the
Warrant pursuant to the terms of this Agreement and of protecting the Holder's
interests in connection therewith.

               (f) The Original Holder is an "accredited investor" as defined in
Rule 501 pursuant to the Securities Act.

        9. RESERVATION AND AUTHORIZATION OF STOCK. The Company covenants that
during the term this Warrant is exercisable, the Company will reserve from its
authorized and unissued Common Stock and 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
Certificate of Incorporation to provide sufficient reserves of shares of Common
Stock issuable upon exercise of the Warrant. The Company further covenants that
all shares that may be issued upon the exercise of rights represented by this
Warrant and payment of the Exercise Price, all as set forth herein, will be
validly issued, fully paid and non-assessable and free from all insurance or
transfer taxes, liens, and charges in respect of the issue thereof (other than
taxes in respect of any transfer occurring contemporaneously or as otherwise
specified herein). The Company agrees that issuance of this Warrant shall
constitute full authority to the Company's officers who are charged with the
duty of executing stock certificates to execute and issue the necessary
certificates for shares of Common Stock and any other securities of the Company
upon the exercise of this Warrant.

        10. AMENDMENTS. Any term of this Warrant may be amended with the written
consent of the Company and the Holder.

        11. LOST DOCUMENTS. Upon receipt by the Company of evidence and
indemnity satisfactory to it of the loss, theft, destruction or mutilation of,
and upon surrender and cancellation of this Warrant, if mutilated, the Company
will make and deliver to the Holder, in lieu of this Warrant, a new Warrant of
the same series and of like tenor of this Warrant.

        12. ADJUSTMENTS. The number of shares purchasable hereunder are subject
to adjustment from time to time as follows:

            12.1 Reorganization, Reclassification, Merger or Conveyance. If any
capital reorganization or reclassification of the capital stock of the Company
shall be effected in such a way that holders of Common Stock shall be entitled
to receive stock, securities or assets with respect to or in exchange for Common
Stock, or in the event the Company (or any such other corporation) merges with
or into another corporation or conveys all or substantially all of its assets to
another corporation, then, as a condition of such reorganization,
reclassification merger or conveyance, lawful and adequate provisions shall be
made whereby each holder of the Warrants, if then outstanding, shall thereafter
have the right to receive upon the basis and upon the terms and conditions
specified herein and in lieu of the shares of Common Stock of the Company
immediately theretofore receivable upon the exercise of such Warrant or
Warrants, such shares of stock, securities

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or assets (including cash) as may be issued or payable with respect to or in
exchange for a number of outstanding shares of such Common Stock equal to the
number of shares of such stock immediately theretofore so receivable, had such
reorganization, reclassification, merger or conveyance not taken place, and in
any such case appropriate provision shall be made with respect to the rights and
interests of such holder to the end that the provisions hereof (including,
without limitation, provisions for adjustments of the Exercise Price) shall
thereafter be applicable, as nearly as may be, in relation to any shares of
stock, securities or assets thereafter deliverable upon the exercise of such
exercise rights.

            12.2 Split, Subdivision or Combination of Shares. If the Company at
any time while this Warrant, or any portion thereof, remains outstanding and
unexpired shall split, subdivide or combine the securities as to which purchase
rights under this Warrant exist, into a different number of securities of the
same class, the Exercise Price for such securities shall be proportionately
decreased in the case of a split or subdivision or proportionately increased in
the case of a combination and the number of the securities as to which purchaser
rights under this Warrant exist shall be increased or decreased proportionately
in accordance with such split subdivision or combination.

            12.3 Adjustments for Dividends in Stock or Other Securities or
Property. If while this Warrant, or any portion hereof, remains outstanding and
unexpired the holders of the securities as to which purchase rights under this
Warrant exist at the time shall have received, or, on or after the record date
fixed for the determination of eligible stockholders, shall have become entitled
to receive (the "Dividend Date"), without payment therefor, other or additional
stock or other securities or property (other than cash) of the Company by way of
dividend, then and in each case, this Warrant shall represent the right to
acquire, in addition to the number of shares of the security receivable upon
exercise of this Warrant, and without payment of any additional consideration
therefor, the amount of such other or additional stock or other securities or
property (other than cash) of the Company which such holder would be entitled to
receive had it been the holder of record of the securities receivable upon
exercise of any remaining portion of this Warrant on the Dividend Date.

            12.4 Certificate as to Adjustments. Upon the occurrence of each
adjustment or readjustment pursuant to this Section 12, the Company at its
expense shall promptly compute such adjustment or readjustment in accordance
with the terms hereof and furnish to the Secretary of the Company for filing in
the Company's records and to the Holder a certificate setting forth such
adjustment or readjustment and showing in detail the facts upon which such
adjustment or readjustment is based. The Company shall, upon the written
request, at any time, of the Holder, furnish or cause to be furnished to the
Holder a like certificate setting forth: (i) such adjustments and readjustments;
(ii) the Exercise Price at the time in effect; and (iii) the number of shares
and the amount, if any, of other property that at the time would be received
upon the exercise of the Warrant. No such adjustment or change shall compel
immediate exercise of this Warrant or otherwise affect the Termination Date of
this Warrant. Irrespective of any adjustment or other changes made hereunder,
this Warrant (or any other warrant issued in exchange therefor) may continue to
express the same number and kind of Warrant Shares (except to the extent
exercised) and the same Exercise Price as are initially stated herein.

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            12.5 No Impairment. The Company will not, by any voluntary action,
avoid or seek to avoid the observance or performance of any of the terms to be
observed or performed hereunder by the Company, by amendment of its Certificate
of Incorporation or through reorganization, transfer of assets, consolidation,
merger, dissolution, issue, or sale of securities or any other voluntary action,
but will at all times in good faith assist in the carrying out of all the
provisions of this Section 12 and in the taking of all such action as may be
necessary or appropriate in order to protect the rights of the holders of this
Warrant against impairment.

        13. [RESERVED.]

        14. GENERAL PROVISIONS.

            14.1 Governing Law. This Warrant shall be governed by and construed
under the laws of the State of California, excluding that body of law relating
to conflict of laws.

            14.2 Survival. The representations, warranties, covenants and
agreements made herein shall survive the execution of this Agreement and the
exercise of this Warrant.

            14.3 Successors and Assigns. Except as otherwise expressly provided
herein, the provisions hereof shall inure to the benefit of, and be binding
upon, the successors, assigns, heirs, executors and administrators of the
parties hereto.

            14.4 Entire Agreement. This Agreement and the exhibits to this
Agreement constitute the full and entire understanding and agreement between the
parties with regard to the subjects hereof and thereof.

            14.5 Notices, etc. All notices and other communications required or
permitted hereunder shall be in writing and shall be sent via facsimile,
overnight courier service or mailed by certified or registered mail, postage
prepaid, return receipt requested, addressed or sent (a) if to the Holder, at
the address or facsimile number of the Holder set forth below such party's name
on the signature page hereto, or at such other address or number as the Holder
shall have furnished to the Company in writing, or (b) if to the Company, at
5850 Hellyer Avenue, San Jose, 95138, facsimile: (408) 360-4951, or at such
other address or number as the Company shall have furnished to the Holder in
writing.

            14.6 Separability. In case any provision of this Agreement shall be
declared invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or
impaired thereby.

            14.7 Counterparts. This Agreement may be executed in any number of
counterparts each of which shall be an original, but all of which together shall
constitute one instrument.

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        IN WITNESS WHEREOF, GADZOOX NETWORKS, INC., has caused the Warrant to be
executed by its officers thereunto duly authorized.

Dated:  May 25, 2001

                                      GADZOOX NETWORKS, INC.

                                      By: /s/ Michael Parides
                                          -------------------------------------
                                          Michael Parides,
                                          President and Chief Executive Officer

ACCEPTED:

By: /s/ Harlan P. Kleiman
    -------------------------------------

Title: Chief Executive Officer
       ----------------------------------

Address:
        ----------------------------------

        ----------------------------------

Facsimile:
          --------------------------------

Warrant to Purchase Series B-1 Common Stock

<PAGE>   9

                                    EXHIBIT A

                               NOTICE OF EXERCISE

TO: GADZOOX NETWORKS, INC.

        (1) The undersigned hereby elects to purchase ________ shares of Common
Stock of Gadzoox Networks, Inc. pursuant to the terms of the attached Agreement
and Warrant to Purchase Common Stock (the "Warrant"), and tenders herewith
payment of the Exercise Price for such shares in full at the price per share
provided in the Warrant.

        (2) The undersigned hereby confirms and acknowledges that the
representations and warranties set forth in Section 8 of the Warrant remain true
and correct concerning the Holder as of the date hereof, that the shares of
Common Stock are being acquired solely for the account of the undersigned and
not as a nominee for any other party, and for investment, and that the
undersigned will not offer, sell, or otherwise dispose of any such shares of
Common Stock except under circumstances that will not result in a violation of
the Securities Act of 1933, as amended, or any state securities laws or unless
pursuant to Rule 144 of such Act.

        (3) Please issue a certificate or certificates representing said shares
of Common Stock in the name of the undersigned or in such other name as is
specified below:

                                            ----------------------------------
                                            Print Name

                                            ----------------------------------
                                            Signature

                                            ----------------------------------
                                            Date

<PAGE>   10

                                    EXHIBIT B
                              NOTICE OF CONVERSION

TO: GADZOOX NETWORKS, INC.

        (1) The undersigned hereby elects to convert the attached Warrant into
________ shares of Common Stock of Gadzoox Networks, Inc. pursuant to the terms
of the attached Agreement and Warrant to Purchase Common Stock (the "Warrant").

        (2) In converting such Warrant, the undersigned hereby confirms and
acknowledges that the representations and warranties set forth in Section 8 of
the Warrant remain true and correct concerning the Holder as of the date hereof,
that the shares of Common Stock are being acquired solely for the account of the
undersigned and not as a nominee for any other party, and for investment, and
that the undersigned will not offer, sell, or otherwise dispose of any such
shares of Common Stock except under circumstances that will not result in a
violation of the Securities Act of 1933, as amended, or any state securities
laws or unless pursuant to Rule 144 of such Act.

        (3) Please issue a certificate or certificates representing said shares
of Common Stock in the name of the undersigned or in such other name as is
specified below:

                                            ----------------------------------
                                            Print Name

                                            ----------------------------------
                                            Signature

                                            ----------------------------------
                                            Date<PAGE>   1

                                                                  Exhibit 10.33

                             GADZOOX NETWORKS, INC.

                           CHANGE OF CONTROL AGREEMENT

        This Change of Control Agreement (the "AGREEMENT") is made and entered
into effective as of May 29, 2001 (the "EFFECTIVE DATE"), by and between David
Eichler (the "EMPLOYEE") and Gadzoox Networks, Inc., a Delaware corporation (the
"COMPANY").

                                 R E C I T A L S

        A. The Board of Directors of the Company (the "BOARD") expects that the
Company may from time to time consider the possibility of an acquisition of the
Company by another company or other Change of Control of the Company. The Board
recognizes that such considerations can be a distraction to the Employee and can
cause the Employee to consider alternative employment opportunities.

        B. The Board believes that it is in the best interests of the Company
and for the benefit of its shareholders to provide the Employee with an
incentive to continue his employment and to maximize the value of the Company
upon a Change of Control.

        C. Certain capitalized terms used in the Agreement are defined in
SECTION 7 below.

                                    AGREEMENT

        NOW, THEREFORE, in consideration of the mutual covenants herein
contained, and in consideration of the continuing employment of the Employee by
the Company, the parties agree as follows:

        1. EMPLOYMENT.

           (a) Position. The Company has and continues to employ the Employee in
the position of Chief Financial Officer with such duties, responsibilities and
compensation as are in effect as of the Effective Date; provided, however, that
this Agreement shall not in any manner restrict the Company in its employment
relationship with the Employee prior to the occurrence of a Change of Control,
including from revising such duties, responsibilities or compensation from time
to time.

           (b) At-Will Employment. The Company and the Employee acknowledge that
the Employee's employment is and shall continue to be at-will, as defined under
applicable law. If the Employee's employment terminates for any reason, this
Agreement shall not entitle the Employee to any payment, benefit, damage, award
or compensation other than as specifically provided by this Agreement.

<PAGE>   2

        2. TERMINATION FOLLOWING A CHANGE OF CONTROL.

           (a) If a Change of Control occurs while the Employee is employed by
the Company, then, subject to SECTIONS 4, 5 AND 6 hereof, then fifty percent
(50%) of the number of all stock options and restricted stock owned beneficially
by the Employee and which are, in the case of stock options, unvested and, in
the case of restricted stock, subject to a repurchase option, as of the
effective date of the Change of Control, shall on the effective date of the
Change of Control be fully vested (and immediately exercisable) and any such
repurchase option shall cease to apply to such restricted stock, regardless of
whether or not the Employee's employment with the Company continues following
the effective date of the Change of Control. The balance of any unvested stock
options or restricted stock subject to a repurchase option not so accelerated
shall continue to vest on the same schedule that existed prior to the Change of
Control with respect to such options or stock.

           (b) If the Employee's employment with the Company terminates as a
result of the Involuntary Termination of the Employee within twelve (12) months
immediately following a Change of Control, then, subject to SECTIONS 4, 5 AND 6
hereof, twenty-five percent (25%) of the number of all stock options and
restricted stock owned beneficially by the Employee and which are, in the case
of stock options, unvested and, in the case of restricted stock, subject to a
repurchase option as of the Termination Date shall become vested (and
immediately exercisable) and any such repurchase option shall cease to apply to
such restricted stock.

        3. VOLUNTARY RESIGNATION; TERMINATION FOR CAUSE. If the Employee's
employment terminates by reason of the Employee's voluntary resignation (and is
not an Involuntary Termination), or if the Employee is terminated for Cause,
then the Employee shall not be entitled to receive any accelerated vesting (as
may be provided by SECTION 2 hereof) or other benefit from the Company pursuant
to this Agreement.

        4. DISABILITY; DEATH. If the Company terminates the Employee's
employment as a result of the Employee's Disability, or the Employee's
employment with the Company is terminated due to the death of the Employee, then
the Employee shall not be entitled to receive any accelerated vesting (as may be
provided by SECTION 2) or other benefit from the Company.

        5. LIMITATION ON PAYMENTS. If the benefits provided for in this
Agreement to the Employee (i) constitute a "parachute payment(s)" within the
meaning of SECTION 280G of the Internal Revenue Code of 1986, as amended (the
"CODE") and (ii) but for this Section, would be subject to the excise tax
imposed by SECTION 4999 of the Code, then the Employee's severance benefits
under SECTION 2 shall be payable either:

           (a) in full; or

           (b) as to such lesser amount which would result in no portion of such
severance benefits being subject to excise tax under SECTION 4999 of the Code,

whichever of the foregoing amounts, taking into account the applicable federal,
state and local income taxes and the excise tax imposed by SECTION 4999, results
in the receipt by the Employee on an after-tax basis, of the greatest amount of
severance benefits under SECTION 2 hereof,

                                      -2-
<PAGE>   3

notwithstanding that all or some portion of such severance benefits may be
taxable under SECTION 4999 of the Code. Unless the Company and the Employee
otherwise agree in writing, any determination required under this SECTION 5
shall be made in writing by the Company's independent public accountants (the
"Accountants"), whose determination shall be conclusive and binding upon the
Employee and the Company for all purposes. For purposes of making the
calculations required by this SECTION 5, the Accountants may make reasonable
assumptions and approximations concerning applicable taxes and may rely on
reasonable, good faith interpretations concerning the application of SECTIONS
280G AND 4999 of the Code. The Company and the Employee shall furnish to the
Accountants such information and documents as the Accountants may reasonably
request in order to make a determination under this Section. The Company shall
bear all costs the Accountants may reasonably incur in connection with any
calculations contemplated by this SECTION 5.

        6. CERTAIN BUSINESS COMBINATIONS. If the Board determines, upon receipt
of a written opinion of the Company's independent public accountants, that the
enforcement of any provision of this Agreement would preclude accounting for any
proposed business combination of the Company involving a Change of Control as a
pooling of interests, and the Board otherwise determines to approve such a
proposed business transaction which requires as a condition to the closing of
such transaction that it be accounted for as a pooling of interests, then any
such provision of this Agreement shall be null and void.

        7. DEFINITIONS. The following terms referred to in this Agreement shall
have the following meanings:

           (a) "CAUSE" means (i) any act of personal dishonesty taken by the
Employee in connection with his responsibilities as an employee of the Company
and intended to result in substantial personal enrichment of the Employee, (ii)
the Employee being convicted of a felony, (iii) a willful act by the Employee
which constitutes gross misconduct and which is injurious to the Company, and
(iv) the repeated failure by the Employee to perform the Employee's assigned
duties or responsibilities as an employee of the Company after there has been
delivered to the Employee a written demand for performance from the Company
which describes the basis for the Company's belief that the Employee has not
substantially performed his duties or responsibilities.

           (b) "CHANGE OF CONTROL" means the occurrence of any of the following:
(A) When any "person," as such term is used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended (the "EXCHANGE ACT"), other than the
Company, a subsidiary of the Company or a Company employee benefit plan,
including any trustee of such plan acting as trustee, is or becomes the
"beneficial owner" (as defined in Rule 13d-3 under the Exchange Act), directly
or indirectly, of securities of the Company representing fifty percent (50%) or
more of the combined voting power of the Company's then outstanding securities
entitled to vote generally in the election of directors; provided, however, that
sales by the Company of its equity securities shall not constitute a Change of
Control; or (B) the effective date of a merger or consolidation of the Company
with any other third party, other than a merger or consolidation which would
result in the voting securities of the Company outstanding immediately prior
thereto continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving entity or the entity that
controls such surviving entity) at least fifty percent (50%) of the total voting
power represented by the voting securities of the Company, such surviving entity
or the entity that controls

                                      -3-
<PAGE>   4

such surviving entity outstanding immediately after such merger or
consolidation, or the effective date of the sale or disposition by the Company
of all or substantially all the Company's assets.

           (c) "DISABILITY" means that the Employee, at the time notice has been
given, has been unable to perform his assigned duties or responsibilities as an
employee of the Company for a period of 26 consecutive weeks as the result of
his incapacity due to physical or mental illness. If the Employee resumes the
performance of substantially all of his assigned duties or responsibilities
before the termination of his employment for the purposes of this Agreement
becomes effective, the notice of termination shall automatically be deemed to
have been revoked. This Agreement shall not confer any benefit to the Employee
and no compensation or benefits will be paid or provided to the Employee under
this Agreement on account of termination for Disability, or for periods
following the date when such a termination of employment is effective. The
Employee's rights under the benefit plans of the Company shall be determined
under the provisions of those plans.

           (d) "INVOLUNTARY TERMINATION" means any of the following not
undertaken for Cause (i) without the Employee's express written consent, a
significant reduction of the Employee's duties, position or responsibilities, or
the removal of the Employee from such position and responsibilities, unless the
Employee is provided with a comparable position (i.e., a position of equal or
greater organizational level, duties, authority, compensation and status);
provided however, that (A) a reduction in duties, position or responsibilities
solely by virtue of the Company being acquired and made part of a larger entity
(as, for example, when the Employee, if Chief Financial Officer of the Company
immediately prior to a Change of Control, remains as such following a Change of
Control and is not made the Chief Financial Officer of the acquiring corporation
or a division thereof) shall not constitute an "Involuntary Termination;" (ii)
without the Employee's express written consent, a substantial reduction, without
a good business reason, of the facilities and perquisites (including office
space and location) available to the Employee immediately prior to such
reduction; (iii) a significant reduction by the Company in the base salary of
the Employee as in effect immediately prior to such reduction; (iv) a material
reduction by the Company in the kind or level of employee benefits to which the
Employee is entitled immediately prior to such reduction with the result that
the Employee's overall benefits package is significantly reduced; and (v)
without the Employee's express written consent, the relocation of the Employee
to a facility or a location more than 50 miles from the Employee's then present
location.

           (e) "TERMINATION DATE" means the date on which either party delivers
to the other a notice of termination of the Employee's employment with the
Company.

        8. SUCCESSORS AND ASSIGNS. The Company may assign any of its rights
under this Agreement to single or multiple assignees, and this Agreement shall
inure to the benefit of the successors and assigns of the Company. This
Agreement shall be binding upon the Employee and his heirs, executors,
administrators and assigns.

        9. NOTICE.

           (a) General. Notices and all other communications contemplated by
this Agreement shall be in writing and shall be deemed to have been duly given
when personally delivered or when mailed by U.S. registered or certified mail,
return receipt requested and postage

                                      -4-
<PAGE>   5

prepaid. In the case of the Employee, mailed notices shall be addressed to him
at the home address which he most recently communicated to the Company in
writing. In the case of the Company, mailed notices shall be addressed to its
corporate headquarters, and all notices shall be directed to the attention of
its Secretary.

           (b) Notice of Termination. Any termination by the Company for Cause
or by the Employee as a result of a voluntary resignation or an Involuntary
Termination of the Employee shall be communicated by a notice of termination to
the other party hereto given in accordance with this SECTION 9. Such notice
shall indicate the specific termination provision in this Agreement relied upon,
shall set forth in reasonable detail the facts and circumstances claimed to
provide a basis for termination under the provision so indicated, and shall
specify the termination date (which shall be not more than 30 days after the
giving of such notice). The failure by the Employee to include in the notice any
fact or circumstance which contributes to a showing of Involuntary Termination
of the Employee shall not waive any right of the Employee hereunder or preclude
the Employee from asserting such fact or circumstance in enforcing his rights
hereunder.

        10. ARBITRATION.

            (a) General. In consideration of Employee's service to the Company
and Employee's receipt of the compensation, pay raises and other benefits paid
to Employee by the Company, at present and in the future, Employee agrees that
any and all controversies, claims, or disputes with anyone (including the
Company and any employee, officer, director, shareholder or benefit plan of the
Company in their capacity as such or otherwise) arising out of, relating to, or
respecting this Agreement, shall be subject to binding arbitration under the
Arbitration Rules set forth in California Code of Civil Procedure SECTION 1280
through 1294.2, including SECTION 1283.05 (the "RULES") and pursuant to
California law.

            (b) Procedure. Employee agrees that any arbitration will be
administered by the American Arbitration Association ("AAA") and that a neutral
arbitrator will be selected in a manner consistent with its National Rules for
the Resolution of Employment Disputes. The arbitration proceedings will allow
for discovery according to the rules set forth in the National Rules for the
Resolution of Employment Disputes or California Code of Civil Procedure.
Employee agrees that the arbitrator shall have the power to decide any motions
brought by any party to the arbitration, including motions for summary judgment
and/or adjudication and motions to dismiss and demurrers, prior to any
arbitration hearing. Employee agrees that the arbitrator shall issue a written
decision on the merits. Employee also agrees that the arbitrator shall have the
power to award any remedies, including attorneys' fees and costs, available
under applicable law. Employee understands the Company will pay for any
administrative or hearing fees charged by the arbitrator or AAA except that
Employee shall pay the first $200.00 of any filing fees associated with any
arbitration Employee initiates. Employee agrees that the arbitrator shall
administer and conduct any arbitration in a manner consistent with the Rules and
that to the extent that the AAA's National Rules for the Resolution of
Employment Disputes conflict with the Rules, the Rules shall take precedence.

            (c) Remedy. Except as provided by the Rules, arbitration shall be
the sole, exclusive and final remedy for any dispute between Employee and the
Company. Accordingly, except as provided for by the Rules, neither Employee nor
the Company will be permitted to pursue

                                      -5-
<PAGE>   6

court action regarding claims that are subject to arbitration. Notwithstanding,
the arbitrator will not have the authority to disregard or refuse to enforce any
lawful Company policy, and the arbitrator shall not order or require the Company
to adopt a policy not otherwise required by law which the Company has not
adopted.

            (d) Administrative Relief. Employee understands that this Agreement
does not prohibit Employee from pursuing an administrative claim with a local,
state or federal administrative body such as the Department of Fair Employment
and Housing, the Equal Employment Opportunity Commission or the workers'
compensation board. This Agreement does, however, preclude Employee from
pursuing court action regarding any such claim.

            (e) Voluntary Nature of Agreement. Employee acknowledges and agrees
that Employee is executing this Agreement voluntarily and without any duress or
undue influence by the Company or anyone else. Employee further acknowledges and
agrees that Employee has carefully read this Agreement and that Employee has
asked any questions needed for Employee to understand the terms, consequences
and binding effect of this Agreement and fully understand it, including that
Employee is waiving Employee's right to a jury trial. Finally, Employee agrees
that Employee has been provided an opportunity to seek the advice of an attorney
of Employee's choice before signing this Agreement.

        11. MISCELLANEOUS PROVISIONS.

            (a) Waiver. No provision of this Agreement shall be modified, waived
or discharged unless the modification, waiver or discharge is agreed to in
writing and signed by the Employee and by an authorized officer of the Company
(other than the Employee). No waiver by either party of any breach of, or of
compliance with, any condition or provision of this Agreement by the other party
shall be considered a waiver of any other condition or provision or of the same
condition or provision at another time.

            (b) Entire Agreement. No agreements, representations or
understandings (whether oral or written and whether express or implied) which
are not expressly set forth in this Agreement have been made or entered into by
either party with respect to the subject matter hereof.

            (c) Governing Law. The validity, interpretation, construction and
performance of this Agreement shall be governed by the laws of the State of
California.

            (d) Severability. The invalidity or unenforceability of any
provision or provisions of this Agreement shall not affect the validity or
enforceability of any other provision hereof, which shall remain in full force
and effect.

            (e) No Assignment of Benefits. The rights of any person to any
benefit under this Agreement shall not be made subject to option or assignment,
either by voluntary or involuntary assignment or by operation of law, including
(without limitation) bankruptcy, garnishment, attachment or other creditor's
process, and any action in violation of this SECTION (E) shall be void.

            (f) Taxes. All payments made pursuant to this Agreement will be
subject to withholding of applicable income and employment taxes.

                                      -6-
<PAGE>   7

            (g) Assignment by Company. The Company may assign its rights under
this Agreement to an affiliate, and an affiliate may assign its rights under
this Agreement to another affiliate of the Company or to the Company. In the
case of any such assignment, the term "Company" when used in a section of this
Agreement shall mean the corporation that actually employs the Employee.

            (h) Counterparts. This Agreement may be executed in counterparts,
each of which shall be deemed an original, but all of which together will
constitute one and the same instrument.

                             [Signatures to follow.]

                                       -7-
<PAGE>   8

        IN WITNESS WHEREOF, each of the parties has executed this Agreement, in
the case of the Company by its duly authorized officer, as of the day and year
first above written.

COMPANY:                                 GADZOOX NETWORKS, INC.

                                         By:     /s/ Michael Parides
                                                 ------------------------------
                                         Title:  Chief Executive Officer
                                                 ------------------------------

EMPLOYEE:                                            /s/ David Eichler
                                         --------------------------------------
                                                 David Eichler

                 [Signature page to Change of Control Agreement]

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