Document:

<PAGE>   1
                                                                   EXHIBIT 10.24

                                 LOAN AGREEMENT

      This Loan Agreement (the "Agreement") is entered into as of the 26th day
of June 2000 by and between Gadzoox Networks, Inc., a Delaware corporation (the
"Company"), and Clark F. Foy, a married man, and Catherine B. Foy, (jointly and
severably "Borrower").

                                    RECITALS

      A.    Borrower has accepted an offer of employment with the Company.

      B.    Borrower has found it necessary to request a loan from the Company.

      C.    To aid Borrower in his employment, the Company and Borrower desire
that the Company shall loan to Borrower the total amount of Two Hundred,
Eighty-Five Thousand Dollars ($285,000) under the terms and conditions as set
forth below.

      NOW, THEREFORE, the Company and Borrower agree as follows:

                                    AGREEMENT

      1.    The Company agrees to lend to Borrower the amount of Two Hundred,
Eighty-Five Thousand Dollars ($285,000) (the "Loan").

      2.    Concurrent with the execution and delivery of this Agreement,
Borrower shall execute and deliver to the Company a promissory note (the "Note")
in the amount of Two Hundred, Eighty-Five Thousand Dollars ($285,000) in the
form attached hereto as Exhibit A.

      3.    Borrower understands that the Loan provided for herein is not
transferable by Borrower.

      4.    This Agreement and the exhibits attached hereto constitute the full
and entire understanding and agreement between the parties hereto with regard to
the subject hereof. Neither this Agreement nor any term hereof may be amended,
waived, discharged or terminated other than by a written instrument signed by
the party against whom enforcement of any such amendment, waiver, discharge or
termination is sought.

      5.    Borrower understands that this Agreement does not constitute an
employment agreement or a promise by the Company to continue Borrower's
employment.

      6.    All notices and other communications required or permitted hereunder
shall be in writing and shall be deemed effectively given upon personal delivery
to the party to be notified or five (5) days after deposited within the United
States mail, by registered or certified mail, postage prepaid, addressed to the
address set forth on the signature page hereof, or such other address as either
party may furnish to the other party.

<PAGE>   2

      7.    Neither party may assign the rights and/or duties under this
Agreement to a third party without the prior written consent of the other party
to this Agreement, except in the event that the Company is merged into another
corporation, or substantially all the outstanding stock or assets of the Company
are sold to another corporation and the surviving or acquiring corporation
agrees in writing to be bound by the rights and duties of the Company under this
Agreement, then the Company may assign its rights and duties hereunder to such
acquiring or surviving corporation. In the event the that the Company is merged
into another corporation, or substantially all the outstanding stock or assets
of the Company are sold to another corporation and the surviving or acquiring
corporation requests this Agreement and Loan be terminated and any such
obligations under the Agreement and Loan be canceled, the Borrower agrees that
the Company may immediately forgive any amounts due and owing under this
Agreement and Loan.

      8.    All exhibits attached hereto are incorporated herein by this
reference.

      9.    This Agreement shall be governed in all respects by the laws of the
State of California.

      10.   In case one or more provisions herein shall for any reason be held
to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provision of this
Agreement, and this Agreement shall be construed as if such invalid, illegal or
unenforceable provision had not been contained herein.

      11.   Each party hereto agrees to do such further acts and things and to
execute, acknowledge and deliver or to cause to have executed, acknowledged, and
delivered such other and further instruments and documents as may reasonably be
requested by the other to carry out the purposes and intents of this Agreement.
This Agreement may be executed in counterparts and each counterpart shall be
deemed an original instrument.

      12.   This Agreement and Loan and the terms and conditions herein shall be
held by both parties in the strictest confidence and not disclosed to any third
party without first informing the other party as to the reason and timing of
such disclosure.

      13.   This Agreement, the Note and all related documentation are executed
voluntarily and without any duress or undue influence on the part or behalf of
the parties hereto, with the full intent of creating the obligations described
herein and therein. The parties acknowledge that 1) they have read such
documentation; 2) they have been represented in the preparation, negotiation and
execution of such documentation by legal counsel of their own choice or that
they have voluntarily declined to seek such counsel; 3) they understand that the
terms and consequences of this Agreement, the Note and all related documentation
and the obligations they create; and 4) they are fully aware of the legal and
binding effect of this Agreement, the Note and the other documents contemplated
by this Agreement.

                                      -2-
<PAGE>   3

      IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the
date first written above.

BORROWER:                                 COMPANY:

/s/ CLARK F. FOY                          /s/ CHRISTINE E. MUNSON
--------------------------------------    --------------------------------------
Clark F. Foy                                  Christine E. Munson
Address:  325 Johnson Ave.                    Chief Financial Officer
          ----------------------------        Gadzoox Networks, Inc.
          Los Gatos, CA 95030                 5850 Hellyer Avenue
          ----------------------------        San Jose, CA 95138
Phone:    408-395-9544                        (408) 360-4950
          ----------------------------

BORROWER:

/s/ CATHERINE B. FOY
--------------------------------------
Catherine B. Foy
Address:  325 Johnson Ave.
          ----------------------------
          Los Gatos, CA 95030
          ----------------------------
Phone:    408-395-9544
          ----------------------------

<PAGE>   4

                           EXHIBIT A TO LOAN AGREEMENT
                                 PROMISSORY NOTE

$285,000                                                    San Jose, California
                                                                   June 26, 2000

      1.    For value received, the undersigned, Clark F. Foy and Catherine B.
Foy (jointly and severably, "Borrower") promise to pay Gadzoox Networks, Inc., a
Delaware corporation (the "Company"), or order, with interest, the principal sum
of Two Hundred, Eighty-Five Thousand Dollars ($285,000) (the "Principal"),
loaned to Borrower pursuant to that certain Loan Agreement between Borrower and
the Company of even date herewith (the "Loan Agreement").

      2.    The Principal shall bear simple interest at the rate of Six Percent
(6%) per annum.

      3.    Principal and interest shall be due and payable as follows:

            A.    All unpaid or unforgiven Principal plus all accrued and unpaid
or unforgiven interest thereon shall be due and payable at the date of voluntary
termination or cessation of the employment of Borrower with the Company, or ten
(10) days following the date of involuntary termination of the employment of
Borrower with the Company, for cause; or

            B.    Seventeen Thousand, Eight Hundred Twelve Dollars and Fifty
Cents ($17,812.50) of the Principal and all accrued interest on the outstanding
Principal balance shall be due and payable at the later of each quarterly
anniversary date of this Note (whether or not Borrower is employed by the
Company) or the extended quarterly anniversary date as specified in 5(B) below.

      4.    In the event that Borrower's employment with the Company is
terminated without cause, then the provisions of paragraph 3 above shall not
apply, and the outstanding Principal and accrued interest shall be forgiven.
"Cause" shall mean 1) any act of personal dishonesty taken by the Employee in
connection with his responsibilities as an employee that constitutes material
injury to the Company or that is intended to result in substantial personal
enrichment of the Employee, 2) the conviction of a felon, or 3) a willful act by
the Employee which constitutes gross misconduct injurious to the Company.

      5.    Notwithstanding the provisions of paragraph 3, and subject to the
conditions set forth below, on the quarterly anniversary dates of the date of
this Note (June __, 2000) ("Forgiveness Date"), the Company will forgive an
amount equal to Seventeen Thousand, Eight Hundred Twelve Dollars and Fifty Cents
($17,812.50) of the Principal and all accrued interest on the outstanding
Principal balance. Such forgiveness shall be conditioned on the following:

            A.    That the Borrower is an employee of the Company as of the
relevant Forgiveness Date and has not given notice of resignation or been given
notice of termination for cause, or;

            B.    That the Borrower is not on Leave of Absence ("LOA") on the
relevant Forgiveness Date and has not been on LOA during the three (3) month
period immediately prior to

<PAGE>   5

the relevant Forgiveness Date, provided however that if the Borrower is or has
been on LOA, the Forgiveness Date and all subsequent Forgiveness Dates shall be
extended by a number of days equal to the period of the LOA.

      Any portion of the Principal and all accrued interest which is not
forgiven pursuant to this paragraph or paragraph 4 shall be due and payable as
otherwise set forth in this Note.

      6.    If an action is instituted for collection of this Note, the
prevailing party is entitled to be reimbursed for court costs and reasonable
attorney's fees incurred by the holder thereof.

      7.    This Note may be amended or modified, and provisions hereof may be
waived, only by the written agreement of Borrower and the Company. No delay or
failure by the Company in exercising any right, power or remedy thereunder shall
operate as a waiver of such right, power or remedy, and a waiver of any right,
power or remedy on any one occasion shall not operate as a bar or waiver of any
such right, power or remedy on any other occasion. Without limiting the
generality of thee foregoing, the delay or failure by the Company for any period
of time to enforce collection of any amounts due hereunder shall not be deemed
to be a waiver of any rights of the Company under contract or under law. The
rights of the Company under this Note are in addition to any other rights and
remedies which the Company may have.

      8.    This Note may be prepaid without penalty, in whole or in part, at
any time. All amounts payable hereunder shall be payable in lawful money of the
United States of America.

      9.    This Note shall be construed and enforced in accordance with, and
the rights of the parties shall be governed by, the laws of the State of
California.

      10.   If any payment under this Note is not paid when due, then the
parties agree that 1) the Company's damages shall be difficult to estimate, 2)
interest shall cease to accrue on the Principal at the rate of Six Percent (6%)
per annum compounded annually and, as liquidated damages on account of
Borrower's default, the unpaid Principal and accrued interest (to the extent
permitted by law) shall bear interest at the default rate of Twelve Percent
(12%) per annum, or the highest rate allowed by law, whichever is higher, from
said due date until paid, and 3) the parties agree that such liquidated damages
are a reasonable estimate of the damages the Company will incur as a consequence
of Borrower's default.

BORROWER:                                 BORROWER:

/s/ CLARK F. FOY                          /s/ CATHERINE B. FOY
--------------------------------------    --------------------------------------
Clark F. Foy                              Catherine B. Foy

6/25/00                                   6-25-00
--------------------------------------    --------------------------------------
Date                                      Date

                                      -2-<PAGE>   1
                                                                   EXHIBIT 10.25

                        FIRST AMENDMENT TO OFFICE LEASE

This FIRST AMENDMENT TO OFFICE LEASE ("AMENDMENT") is made and entered into as
of the 30 day of June, 2000, by and between IRVINE OAKS REALTY HOLDING CO.,
INC., a Delaware corporation ("LANDLORD"), and GADZOOX NETWORKS, INC., a
Delaware corporation ("TENANT").

                                R E C I T A L S:

A. Landlord and Tenant, entered into that certain Office Lease dated October __,
1999 (the "LEASE"), whereby Landlord leased to Tenant and Tenant leased from
Landlord those certain premises consisting of a total of approximately 13,916
rentable square feet of space (the "PREMISES") located on the first (1st) floor
of the building located at 16241 Laguna Canyon Road, Irvine, California (the
"BUILDING").

B. Landlord and Tenant acknowledge that, in accordance with the terms of Section
1.2 of the Lease, the Premises have been measured following the completion of
the construction of the Tenant Improvements therein, and the parties desire to
confirm the rentable square feet of the Premises and otherwise amend the Lease
as set forth in this Amendment.

                               A G R E E M E N T:

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual
covenants contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree as follows:

        1. CAPITALIZED TERMS. All capitalized terms when used herein shall have
the same meaning as is given such terms in the Lease unless expressly superseded
by the terms of this Amendment.

        2. RENTABLE SQUARE FEET IN PREMISES. Landlord and Tenant agree that the
Premises contain approximately 14,133 rentable square feet of space.
Accordingly, in accordance with the terms of Section 1.2 of the Lease, the
Premises shall be deemed to have contained such number of square feet
retroactive to the Lease Commencement Date.

        3. RENT

            3.1 BASE RENT. Retroactively to the Lease Commencement Date, Section
4 of the Summary to the Lease is hereby deleted and replaced with the following:

<PAGE>   2

<TABLE>
<CAPTION>
                                                                                 APPROXIMATE
                                                                               MONTHLY RENTAL
                                                        MONTHLY INSTALLMENT   RATE PER RENTABLE
                    LEASE YEAR       ANNUAL BASE RENT      OF BASE RENT          SQUARE FOOT
                 ----------------    ----------------   -------------------   -----------------
<S>                                  <C>                <C>                   <C>
                       *1-12            $267,961.68         $22,330.14              $1.58
                       13-24            $276,441.48         $23,036.79              $1.63
                       28-36            $284,921.28         $23,743.44              $1.68
                       37-48            $293,401.08         $24,450.09              $1.73
                       49-61            $301,880.88         $25,156.74              $1.78
</TABLE>

(*Note: Tenant shall not be required to pay any Base Rent attributable to the
first (1st) month of the Lease Term.)

            As a result of the retroactive adjustment to the Base Rent due
pursuant to the terms of the Lease, Tenant owes Landlord an additional $1,238.02
for the Base Rent attributable to the period of time from the Lease Commencement
Date through the month of June, 2000. Such additional amount shall be paid by
Tenant concurrently with Tenant's payment of the Base Rent due for the month of
July, 2000.

            3.2 TENANT'S SHARE OF DIRECT EXPENSES.

                (i) TENANT'S BUILDING SHARE. Notwithstanding anything to the
contrary in the Lease, as hereby amended, as a result of the revision to the
rentable square footage of the Premises, "Tenant's Building Share" is hereby
amended to equal 33.76%, effective retroactively to the Lease Commencement Date.

                (ii) TENANT'S PROJECT SHARE. Notwithstanding anything to the
contrary in the Lease, as hereby amended, as a result of the revision to the
rentable square footage of the Premises, "Tenant's Project Share" is hereby
amended to equal 4.44%, effective retroactively to the Lease Commencement Date.

        4. SECURITY DEPOSIT. The amount of the Security Deposit shall not be
increased as a result of the revision to the square footage of the Premises.

        5. BROKERS. Landlord and Tenant hereby warrant to each other that they
have had no dealings with any real estate broker or agent in connection with the
negotiation of this Amendment, and that they know of no real estate broker or
agent who is entitled to a commission in connection with this Amendment. Each
party agrees to indemnify and defend the other party against and hold the other
party harmless from any and all claims, demands, losses, liabilities, lawsuits,
judgments, and costs and expenses (including, without limitation, reasonable
attorneys' fees) with respect to any leasing commission or equivalent
compensation alleged to be owing on account of the indemnifying party's dealings
with any real estate broker or agent, other than the Brokers. The terms of this
Section shall survive the expiration or earlier termination of this Amendment.

                                      -2-
<PAGE>   3

        6. NO FURTHER MODIFICATION. Except as set forth in this Amendment, all
of the terms and provisions of the Lease shall apply with respect to the
Premises and shall and shall remain unmodified and in full force and effect.

IN WITNESS WHEREOF, this Amendment has been executed as of the day and year
first above written.

"LANDLORD"                                "TENANT"

IRVINE OAKS REALTY HOLDING CO., INC,      GADZOOX NETWORKS, INC.,
a Delaware corporation                    a Delaware corporation

By: ________________________________      By: __________________________________

Its: _______________________________      Its: _________________________________

                                          By: __________________________________

                                             Its: ______________________________

                                      -3-

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