Document:

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                                  [CANCELLED]

                                                                    EXHIBIT 10.7

[UBS LOGO]

GUARANTEE AND PLEDGE AGREEMENT

For value received, and to induce UBS AG (the "Bank") to make one or more loans
or otherwise extend credit to or for the account of NATINCO S.A. (herein called
the "Borrower") pursuant to the General Terms and Conditions of Credit
Arrangements dated as of September 27, 1999 between the Borrower and the Bank
(as amended from time to time, and including Schedule I thereto, the "General
Terms") or pursuant to any other credit arrangements between the Borrower and
the Bank (the "Other Credit Arrangements"), the undersigned (the "Guarantor")
hereby agrees as follows:

I. GUARANTEE

The Guarantor hereby unconditionally and irrevocably guarantees to the Bank, its
successors, endorsees and assigns, the prompt payment when due of all
obligations and liabilities of all kinds of the Borrower to the Bank under the
General Terms and the Other Credit Arrangements and, in each case, any
promissory note or other evidence of the indebtedness created thereunder,
whether due or to become due, secured or unsecured, absolute or contingent,
joint or several, and howsoever or whenever incurred by the Borrower (the
"Obligations").

The liability of the Guarantor hereunder shall be limited to credit extended
under or pursuant to the General Terms in the principal amount of up to
US$1,000,000.00 plus interest thereon accrued from time to time at the rate or
rates provided for in or pursuant to the General Terms and all costs and charges
pertaining thereto. /s/ [ILLEGIBLE] [INITIALS OF GUARANTOR]

The Guarantor's obligations hereunder shall not be affected by the genuineness,
validity or enforceability of the General Terms or the Other Credit Arrangements
or, in each case, the credit extended thereunder or pursuant thereto or by the
perfection, or extent, of any collateral therefor or by any other circumstance
relating to the Obligations which might otherwise constitute a defense to this
Guarantee and Pledge Agreement. In the event that at any time any payment to the
Bank in respect to any Obligation is rescinded or must otherwise be returned for
any reason whatsoever, the Guarantor shall remain liable hereunder, or the
Guarantor's obligations hereunder shall be reinstated, in respect of such
Obligation as if such payment were due but not paid at such time.

The Guarantor agrees that the Bank may at any time and from time to time,
without notice to or further consent of the Guarantor, make loans or otherwise
extend credit to the Borrower, extend the time of payment of, or exchange or
surrender any collateral for, any of the Obligations, and may also make any
agreement with the Borrower or with any other party liable on any of the
Obligations for the extension, renewal, payment, compromise, discharge or
release thereof, in whole or in part, or for any modification of the terms
thereof, without in any way impairing or affecting this Guarantee and Pledge
Agreement. The Guarantor agrees that the Bank may resort to the Guarantor for
payment of any of the Obligations whether or not the Bank shall have proceeded
against any other obligor principally or secondarily obligated with respect to
any of the Obligations.

This is a continuing Guarantee and shall remain in full force and effect and be
binding upon the Guarantor, its successors and assigns until seven days after
the date on which written notice of its revocation shall actually be received by
the Bank. No such revocation shall release the Guarantor or affect in any manner
the rights, remedies, powers, security interests and liens of the Bank under
this Guarantee with respect to any of the Obligations arising prior to the
effectiveness of such revocation or arising thereafter pursuant to a commitment
of the Bank in effect prior to such revocation.

II. GRANT OF SECURITY INTEREST

(a) SECURITY AGREEMENT. As security for the payment of all of the Obligations,
the Guarantor hereby grants to the Bank a security interest in and lien upon the
following (collectively referred herein as the "Collateral"): (i) every deposit,
portfolio management or custody account now or hereafter existing of the
Guarantor with the Bank or any of its affiliates and the balance thereof and all
assets credited thereto from time to time (collectively, the "Accounts"),
including
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                                  [CANCELLED]

any such account balance or assets held by a custodian or sub-custodian for the
Bank or any such affiliate and any other present or future claim of the
Guarantor with respect to any Account, (ii) all money, instruments, securities,
documents, credits, claims, demands, and any other property, rights or interests
of the Guarantor or in which the Guarantor has any interest, of any kind,
tangible or intangible, which are ever in any Account or otherwise in the
possession, custody or control of the Bank or any affiliate of the Bank anyone
acting for the Bank or any such affiliate for any purpose, (iii) any other
assets identified as Collateral on Schedule I to the General Terms or in which
the Guarantor otherwise grants a security interest to the Bank and (iv) all
interest and dividends on and proceeds, products and accessions of and to, and
any property received or issuable in exchange for, any of the foregoing. The
Bank shall be deemed to have possession of any property in transit to or set
apart or held for it or any of its affiliates, agents, custodians,
sub-custodians, associates or correspondents. All substitutions of Collateral
shall be subject to the Bank's discretion and to applicable law.

The Bank shall have with respect to the Collateral, in addition to any rights
referred to herein, all the rights of a secured party under the Uniform
Commercial Code of New York. The Bank shall have the right (but not the
obligation) (i) to hold any Collateral in its name, in the name of any
custodian or sub-custodian for the Bank or in the name of any nominee of any
such entities, and to require the Guarantor to transfer Collateral into any
such name, (ii) in its name or the name of the Guarantor to demand, sue for,
collect and receive any money or property at any time due or payable on account
of or in exchange for any Collateral, compromise or settle, extend the time of
payment or alter the terms of payment of, any Collateral, and take any other
action which the Bank deems necessary or appropriate in connection with any
Collateral or its custody or preservation, all without notice to the Guarantor
and without discharging any Obligation or incurring any liability to the
Guarantor. Upon the occurrence of an Event of Default (as defined in the
General Terms or in any Other Credit Agreements), the Bank may apply the
Collateral to the Obligations in such order and in such manner as it may
choose. The Bank shall have no obligations with respect to Collateral except to
use reasonable care in the custody and preservation thereof to the extent
required by law. With respect to any Collateral held by a custodian or
sub-custodian for the Bank, the Bank's duty under the preceding sentence shall
be limited to the use of reasonable care in the selection of such custodian or
sub-custodian. The Guarantor, and not the Bank, shall be obligated to give any
notice or take any other steps necessary to preserve rights against any other
or prior party to any instrument. To the extent permitted by law, any
requirement of reasonable notice imposed by law shall be deemed met if such
notice is in writing and is mailed, transmitted by facsimile or hand delivered
to the Guarantor at least three business days prior to the sale, disposition or
other event giving rise to such notice requirement; provided that the Bank
shall not be required to give any prior notice to the Guarantor in connection
with the sale or other intended disposition of Collateral that is of a type
customarily sold on a recognized market or threatens to decline speedily in
value. Notwithstanding the realization by the Bank upon all of the Collateral,
unless the Bank has proposed that it retain the Collateral in satisfaction of
the Obligations and no written objection has been made thereto within the time
specified in any applicable section of the New York Uniform Commercial Code,
the Guarantor shall continue to be liable for any balance of the Obligations
(including interest to the date of payment) which shall thereafter remain
unpaid. For purposes of this Article II, (i) the term "Bank" shall be deemed to
refer to all offices of UBS AG and (ii) references to "Obligations" shall be
deemed to include all obligations of the types described in the definition
thereof owed to any office of UBS AG.

(b)  LENDING VALUE OF COLLATERAL. The Guarantor understands and agrees that the
Guarantor must maintain Collateral in which the Bank has a first priority,
perfected security interest having a Lending Value, as defined below, equal to
not less than 100% of the principal of, interest on and all other amounts
payable in respect of the Obligations outstanding from time to time (including
without limitation Obligations which have not yet matured or are contingent)
(the "Required Lending Value"). "Lending Value" shall mean the percentage set
forth on Schedule I hereto of the fair market value, as determined by the Bank
from time to time, of the relevant class of Collateral (any item not listed to
have such Lending Value, if any, as the Bank may fix from time to time),
subject, in the case of any security which, under the circumstances, is covered
by Regulation U or Regulation X of the Federal Reserve Board, to any maximum
margin percentage imposed by such Regulations; provided that, notwithstanding
Schedule I, the Bank may change or eliminate the percentage applicable to any
class of Collateral at any time without prior notice to the Guarantor. The
Guarantor agrees immediately to deliver additional Collateral to the Bank to
the extent that, at any time, the aggregate Lending Value of the Collateral is
less than the Required Lending Value. While any Obligations are outstanding,
the Bank reserves the right not to release any of the Collateral if such
release would cause the value thereof to fall below the Required Lending Value.

(c)  AGREEMENTS AND REPRESENTATIONS RELATING TO COLLATERAL. The Guarantor
represents and agrees that the Guarantor owns and will at all times own the
Collateral free and clear of any lien or other encumbrance other than the
security interest created hereby and that the Collateral will not at any time
include (i) securities the ownership of

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                                  [CANCELLED]

which is required to be reported under Rule 13d-1 under the Securities Exchange
Act of 1934 or (ii) "restricted securities" as defined in Rule 144 under the
Securities Act of 1933 or any other security or other property that is subject
to any restriction on the sale, pledge or other disposition thereof under
applicable law or under any agreement or instrument to which the Guarantor is
subject. The Guarantor further represents and agrees that the Collateral and any
other collateral supporting any Obligation is the rightfully derived property of
the party in whose name it is held and that there are no pending or threatened
proceedings that could result in a forfeiture of the Collateral or such other
collateral, and the Guarantor agrees to inform the Bank of any such proceeding,
pending or threatened. The Guarantor's representations herein shall be deemed
repeated at the time of each financial accommodation given to the Borrower by
the Bank. If any portion of the Collateral is held in an account managed on a
discretionary basis by the Bank or any other office or affiliate of UBS AG, the
Guarantor (i) acknowledges that the dual role of UBS AG and/or such affiliate as
creditor and discretionary manager could give rise to a potential conflict of
interest and (ii) consents to the performance by UBS AG and/or such affiliate of
that dual role. The Guarantor will, at the Guarantor's expense and in such form
as the Bank may require, execute, deliver, file and record any financing
statement, specific assignment or other paper and take any other action that may
be necessary or desirable, or that the Bank may request, in order to create,
preserve, perfect or validate the security interest created hereby or to enable
the Bank to exercise and enforce its rights hereunder or under applicable law
with respect to any of the Collateral.

(D) SET-OFF. In addition to the Bank's security interest, it shall at all times
have a right to set off against the Obligations at or after the time at which
they become due, whether at stated maturity, by acceleration, upon demand or
otherwise, all collected funds at any time in any account maintained with the
Bank by or for the benefit of the Guarantor or other party obligated for the
Obligations, unless such account is clearly denominated in the Bank's records
as not being the Guarantor's or such other party's property, in which case such
right of set-off shall apply only to so much thereof as belongs to the
Guarantor or such other party. This right is in addition to, and not in
limitation of, any right the Bank may have at law or otherwise. If any
Obligations are secured by California real property, any application of the
Collateral to the Obligations shall conclusively be deemed to be an exercise of
the Bank's rights under the Uniform Commercial Code of California, rather than
an exercise of any right of set-off.

(E) NOTIFICATION REGARDING SHARES. The Guarantor acknowledges that, in the
event that any Collateral constituting shares of stock (the "Shares") are
registered in the name of a person or entity other than the Bank or its
designee, the Bank may not receive (and accordingly will have no responsibility
to act on) any notice of corporate actions or events provided to the
shareholders of the issuer of the Shares (the "Issuer"). The Guarantor agrees
to (i) notify the Bank promptly upon receipt of any communications to
shareholders of the Issuer disclosing or proposing any stock split, stock
dividend, extraordinary cash dividend, spin-off or other corporate action or
event as a result of which the Guarantor would receive securities, cash (other
than ordinary cash dividends) or other assets in respect of the Shares pledged
to the Bank and (ii) immediately upon receipt by the Guarantor of any such
assets, deliver them to or as directed by the Bank as additional Collateral.

III. MISCELLANEOUS PROVISIONS

(A) EXPENSES. The Guarantor shall be liable to the Bank, and shall promptly
reimburse it on demand, for all expenses incurred by the Bank as a result of
any default or Event of Default hereunder, including reasonable fees and
disbursements of counsel and all expenses incurred in collection and in the
protection of its rights in respect of the obligations of the Guarantor
hereunder (including all expenses incurred in connection with any workout or
any bankruptcy or similar proceedings relating to the Guarantor). The Guarantor
shall also reimburse the Bank from time to time at the Bank's request for any
out-of-pocket expenses incurred by the Bank in connection with the Collateral
and the Bank's security interest therein.

(B) WAIVERS OF THE GUARANTOR. The Guarantor waives notice of the acceptance of
this Guarantee and Pledge Agreement and of the making of any loans or
extensions of credit to the Borrower, presentment to or demand or payment from
anyone liable upon any of the Obligations, presentment, demand, notice of
dishonor, protest and all other notices whatsoever.

(C) MODIFICATION; NOTICES; DEMANDS. No delay on the part of the Bank in
exercising any of its options, powers or rights, and no partial or single
exercise thereof, shall constitute a waiver thereof. No waiver of any rights
hereunder, or under any other document or applicable law, and no amendment or
modification hereof or thereof, shall be effective unless the same shall be in
writing, duly signed on behalf of the party against whom such waiver,
modification or amendment is asserted, and each such waiver, if any, shall
apply only with respect to the specific instance involved, and,
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                                  [CANCELLED]

unless otherwise expressly agreed to in writing, shall in no way impair the
rights or obligations of any party in any rights or obligations of any party in
any other respect at any other time. Any notice or demand or request shall be
in writing and shall be deemed to have been received and shall be effective on
the day on which delivered if (a) personally delivered, (b) transmitted by
telex, telecopier or telegram, or (c) mailed by certified mail or sent by
courier service providing evidence of delivery (in which case such notice shall
be deemed to be delivered on the date shown on any receipt or other evidence of
delivery or refusal), and notices transmitted as provided in clauses (b) or
(c)(i) in the case of the Bank, shall be addressed to the Bank at 10 East 50th
Street, New York, New York 10022, or at any other address designated by the
Bank for such purpose in a notice given to the notifying party in the manner
herein provided, and (iii) in the case of the Guarantor, shall be addressed to
the Guarantor at the Guarantor's address set forth below (or if none is set
forth, at the Guarantor's address in the records of the Bank), or at any other
address designated by the Guarantor for such purpose in a notice given to the
Bank in the manner hereinabove provided.

(d) COOPERATION; ADDITIONAL DOCUMENTATION. The Guarantor will execute all other
documents, including without limitation any government form under margin
regulations, as the Bank may deem necessary or appropriate in connection
herewith, and will cooperate with and assist the Bank in protecting and
realizing upon the Bank's rights and interests.

(e) POWER OF ATTORNEY. The Guarantor hereby irrevocably appoints the Bank, and
any officer of the Bank designated by the Bank from time to time, with full
power of substitution, the Guarantor's attorney-in-fact with full power and
authority in the Guarantor's name and on the Guarantor's behalf, in such
attorney-in-fact's sole discretion, to exercise all rights and powers of the
Guarantor with respect to the Collateral and any Account and take any action to
preserve or realize upon the Bank's security interest, and otherwise to perform
any act which the Guarantor is obligated to perform hereunder.

(f) GOVERNING LAW; SUITS; JURY TRIAL. UNLESS OTHERWISE AGREED BY THE PARTIES IN
WRITING, ALL THE RIGHTS AND OBLIGATIONS OF THE BANK AND THE GUARANTOR WITH
RESPECT HERETO, AND WITH RESPECT TO ANY OBLIGATION OR OTHER TRANSACTION OR
RELATIONSHIP (ALL SUCH DOCUMENTS, OBLIGATIONS, TRANSACTIONS AND RELATIONSHIPS
BEING REFERRED TO HEREIN COLLECTIVELY AS THE "RELATIONSHIP") SHALL BE GOVERNED
BY AND CONSTRUED IN ACCORDANCE WITH THE SUBSTANTIVE LAWS OF THE STATE OF NEW
YORK, AND SHALL BE BINDING UPON AND SHALL INURE TO THE BENEFIT OF THE
GUARANTOR, THE BANK AND THEIR RESPECTIVE HEIRS, SUCCESSORS AND ASSIGNS. The
Guarantor hereby submits to the nonexclusive personal jurisdiction of, and
agrees that any action or proceeding related in any way to the Relationship
shall, if the Bank so chooses, be brought and enforced in, the Supreme Court of
the State of New York for New York County or the United States District Court
for the Southern District of New York and hereby waives any objection to
jurisdiction or venue in any such proceeding commenced in said courts. The
Guarantor hereby waives personal service of any summons, complaint or other
process and agrees that any process required to be served on the Guarantor for
purposes of any such proceeding may be served on the Guarantor, with the same
effect as personal service within the State of New York, by certified mail or
by courier service providing evidence of delivery addressed to the Guarantor at
the Guarantor's address for notices as provided in paragraph (c) of this
Article III and shall be deemed to have been served when received or delivered
at such address. THE GUARANTOR AND THE BANK EACH HEREBY WAIVES TRIAL BY JURY IN
ANY LITIGATION IN ANY COURT WITH RESPECT TO, IN CONNECTION WITH, OR ARISING OUT
OF THE RELATIONSHIP, OR ANY OTHER CLAIM OR DISPUTE WITH RESPECT HERETO OR
THERETO HOWSOEVER ARISING, TO WHICH THE GUARANTOR AND THE BANK ARE PARTIES. If
any provision hereof is invalid or unenforceable under applicable law, the
other provisions hereof shall remain in full force and effect. All rights and
remedies granted to the Bank hereunder, under any other document and under
applicable law shall be cumulative and may be exercised by the Bank from time
to time.

In witness whereof, the Guarantor has executed this Guarantee and Pledge
Agreement as of the 25th day of October, 1999.

Name of Guarantor:  IXIA COMMUNICATIONS, A CALIFORNIA CORPORATION

Signed: /s/ ERROL GINSBERG              Signed: /s/ JON F. RAGER
        ---------------------------             --------------------------------
        Name: Errol Ginsberg                    Name: Jon F. Rager
        Title: President                        Title: CFO<PAGE>   1
                                                                 EXHIBIT 10.7

                        MASTER EQUIPMENT LEASE AGREEMENT

        This MASTER EQUIPMENT LEASE AGREEMENT (this "Lease") is entered into as
of October 1, 1997 by and between Synchronous Network Solutions, Inc., a
Delaware corporation ("Lessor"), and Ixia Communications, a California
corporation ("Lessee").

        1. LEASE. Subject to the terms and conditions of this Lease, Lessor
hereby agrees to lease to Lessee, and Lessee hereby agrees to lease from Lessor,
the items of equipment, machinery, tools and other tangible personal property
owned by Lessor and identified in any Equipment Schedule made a part of this
Lease (the "Equipment"). For purposes of this Lease, an "Equipment Schedule" is
a document signed by Lessor and Lessee (in substantially the form attached
hereto as Exhibit 1) that identifies Equipment that is to be leased by Lessor to
Lessee pursuant to the terms and conditions of this Lease and such additional
terms and conditions as are contained in the applicable Equipment Schedule. Each
Equipment Schedule, upon execution thereof, shall become an integral part of
this Lease.

        2. ACQUISITION AGREEMENTS. Lessee has selected the Equipment and may
have entered into with the vendor and/or manufacturer thereof (any such person,
a "Vendor" or "Manufacturer") certain purchase, licensing or maintenance
agreements with respect thereto (each, an "Acquisition Agreement"). Lessee shall
transfer and assign to Lessor all of its rights (other than with respect to
warranties), but none of its obligations (except for Lessee's obligation to pay
for the Equipment, subject to Lessee's delivery to Lessor of a Certificate of
Acceptance in accordance with Paragraph 7), in and to any Acquisition Agreement
to which it is a party, including the right to take title to the Equipment.

        3. NO WARRANTIES BY LESSOR. LESSOR MAKES NO WARRANTY, EXPRESS OR
IMPLIED, AS TO ANY MATTER WHATSOEVER, INCLUDING THE CONDITION OF THE EQUIPMENT,
ITS MERCHANTABILITY OR ITS FITNESS FOR ANY PARTICULAR PURPOSE, AND, AS TO
LESSOR, LESSEE LEASES THE EQUIPMENT "AS IS." LESSOR SHALL HAVE NO LIABILITY FOR
ANY LOSS, DAMAGE OR EXPENSE OF ANY KIND WHATSOEVER RELATING THERETO, INCLUDING
WITHOUT LIMITATION ANY SPECIAL, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF
ANY CHARACTER.

        4. CLAIMS AGAINST VENDOR AND/OR MANUFACTURER; ASSIGNMENT OF WARRANTIES.
If the Equipment is not properly installed, does not operate as represented or
warranted by Vendor and/or Manufacturer, or is unsatisfactory for any reason,
Lessee shall make any claim on account thereof solely against Vendor and/or
Manufacturer, and shall, in all events, continue to pay to Lessor all rent and
other amounts, if any, payable under this Lease. Lessor hereby assigns (to the
extent assignable) to Lessee for the term of the Lease or until an Event of
Default occurs hereunder, all of Lessor's rights under any and all warranties
obtained by Lessor from any Vendor or Manufacturer of the Equipment.

        5. NON-CANCELLABLE LEASE. This Lease and any Equipment Schedule hereto
cannot be canceled or terminated except as expressly provided herein. Lessee
agrees that

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its obligation to pay all rent and other sums payable hereunder and the rights
of Lessor in and to such rent are absolute and unconditional and are not subject
to any abatement, reduction, setoff, defense, counterclaim or recoupment due or
alleged to be due to, or by reason of, any past, present or future claims which
Lessee may have against Lessor, any assignee, any Manufacturer or Vendor, or
against any person for any reason whatsoever.

        6. ORDERING EQUIPMENT. Lessee shall arrange for delivery of the
Equipment so that it can be accepted in accordance with Paragraph 7 hereof
within 60 days after the date of the applicable Equipment Schedule or by such
other date as may be set forth therein. Unless otherwise specified on the
Equipment Schedule, Lessee shall be responsible for all transportation, packing,
installation, testing and other charges in connection with the delivery,
installation and use of the Equipment. Lessee hereby authorizes Lessor to insert
in any Equipment Schedule hereunder the serial numbers and other identification
data of Equipment when determined by Lessor.

        7. ACCEPTANCE. Lessee acknowledges that for purposes of receiving or
accepting the Equipment from a Vendor or Manufacturer, Lessee is acting on
Lessor's behalf. Upon delivery of the Equipment to Lessee and Lessee's
inspection and acceptance thereof, Lessee shall furnish Lessor a written
statement acknowledging receipt of the Equipment in good condition and repair
and accepting it as satisfactory in all respects for the purposes of this Lease
(the "Certificate of Acceptance").

        8. TERM. The term of this Lease shall commence as of the date hereof
and, unless earlier terminated in accordance with Section 22 hereof, shall
terminate on the later to occur of (i) the fifth anniversary of the date hereof
or (ii) the expiration or termination of the last Equipment Schedule hereunder.
The term of each Equipment Schedule shall be set forth therein.

        9. RENTAL. Unless otherwise set forth in the applicable Equipment
Schedule, rent shall be payable commencing on the first day of the month
following receipt and acceptance of the Equipment covered by an Equipment
Schedule. The rental amount payable to Lessor by Lessee for the Equipment shall
be as set forth in the Equipment Schedule(s). All rent payments shall be paid to
Lessor at its address set forth on the Equipment Schedule or as otherwise
directed by Lessor in writing.

        10. RENEWAL. If no Event of Default by Lessee shall have occurred and be
continuing, Lessee, upon 30 days' prior written notice, shall be entitled to
renew an Equipment Schedule with respect to all, but not less than all, of the
Equipment thereunder for a minimum of 12 months. The renewal rent payable by
Lessee shall be in an amount equal to the fair market rental value of the
covered Equipment, as mutually agreed by Lessor and Lessee. Unless otherwise
agreed by Lessor and Lessee, any such renewal rent shall be payable on the same
dates and in the same manner as the rent payable under the applicable Equipment
Schedule prior to the expiration thereof.

        11. LOCATION; INSPECTION; LABELS. The Equipment shall be delivered to
and shall not be removed without Lessor's prior written consent from the
"Equipment Location" shown on the related Equipment Schedule. Lessor shall have
the right to inspect the Equipment

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at any reasonable time upon reasonable notice. Upon request by Lessor, Lessee
shall conspicuously mark or affix labels to the Equipment stating that the
Equipment is owned by Lessor.

        12. REPAIRS; USE; ALTERATIONS. Lessee, at its own cost and expense,
shall keep the Equipment in good repair and working order, in the same condition
as when delivered to Lessee, ordinary wear, tear, depreciation and obsolescence
excepted, and in accordance with the Manufacturer's recommended specifications;
shall use the Equipment lawfully; shall not alter the Equipment without Lessor's
prior written consent, shall use the Equipment in compliance with any existing
Manufacturer's service and warranty requirements and any insurance policies
applicable to the Equipment and shall furnish all parts and servicing required
therefor. All parts, repairs, additions, alterations and attachments placed on
or incorporated into the Equipment which cannot be removed without damage to the
Equipment shall immediately become part of the Equipment and shall be the
property of the Lessor. Lessee will obtain and maintain all permits, licenses
and registrations necessary to lawfully operate the facility where the Equipment
is located. Lessee shall comply with all applicable environmental and industrial
safety and hygiene laws, rules and regulations (including but not limited to
federal, state and local environmental protection, occupational, health and
safety or similar laws, ordinances and restrictions).

        13. RETURN OF EQUIPMENT. Provided that Lessee does not exercise its
Purchase Option as set forth in this Lease, following the termination of this
Lease for any reason, Lessee shall return the Equipment to Lessor in the same
condition in which it was received by Lessee, except for ordinary wear, tear,
depreciation and obsolescence. Following any such termination, Lessee shall,
during regular business hours, make the Equipment available at the premises on
which the Equipment is then located for pick-up and removal by Lessor, and
Lessor shall pay all expenses for pick-up and removal of the Equipment.

        14. LOSS OR DAMAGE. Lessee shall bear the entire risk of loss, theft,
destruction of or damage to the Equipment or any item thereof (herein, "Loss or
Damage") from any cause whatsoever. No Loss or Damage shall relieve Lessee of
the obligation to pay rent or of any other obligation under this Lease. In the
event of Loss or Damage, Lessee, at its option, shall either (i) place the same
in good condition and repair or (ii) replace the same with like equipment
acceptable to Lessor in good condition and repair with clear title thereto in
Lessor. Notwithstanding the foregoing, Lessor and Lessee may terminate the
Equipment Schedule or portion thereof applicable to the affected Equipment upon
payment of such amount in respect of the remaining rent and fair market value of
the Equipment as Lessor and Lessee may agree.

        15. INSURANCE. Lessee shall provide, maintain and pay for (i) all risk
property insurance against the loss or theft of or damage to the Equipment, for
the full replacement value thereof, and (ii) commercial general liability
insurance. All such policies shall name Lessor as an additional insured and
shall have combined single limits in amounts acceptable to Lessor. All such
insurance policies shall be endorsed to be primary and non-contributory to any
policies maintained by Lessor. All insurance shall be placed with companies
satisfactory to Lessor and

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shall contain the insurer's agreement to give 30 days' written notice to Lessor
before cancellation or any material change of any policy of insurance.

        16. TAXES. Lessee shall reimburse to Lessor (or pay directly if, but
only if, instructed by Lessor) all charges and taxes (local, state and federal)
which may now or hereafter be imposed or levied upon the sale, purchase,
ownership, leasing, possession or use of the Equipment; excluding, however, all
income taxes levied on (i) any rental payments made to Lessor hereunder, (ii)
any payment made to Lessor in connection with Loss or Damage to the Equipment
under Paragraph 14 hereof or (iii) any payment made to Lessor in connection with
Lessee's exercise of its Purchase Option.

        17. ENCUMBRANCES OR LIENS.

            17.1 Lessee shall not, without the prior written consent of Lessor,
pledge, encumber, create a security interest in or permit any lien to become
effective on any item of the Equipment, and Lessee shall promptly notify Lessor
of any liens, charges or other encumbrances affecting the Equipment of which
Lessee has knowledge. Lessee shall keep the Equipment and all right, title and
interest therein free and clear of all liens, charges and encumbrances other
than the interest of Lessor.

            17.2 Lessor shall not pledge, encumber, create a security interest
in or permit any lien to become effective on any item of the Equipment, and
Lessor shall promptly notify Lessee of any liens, charges or other encumbrances
affecting the Equipment of which Lessor has knowledge. Lessor shall keep the
Equipment and all right, title and interest therein free and clear of all liens,
charges and encumbrances other than the interest of Lessee.

        18. INDEMNITY. Lessee shall indemnify Lessor against and hold Lessor
harmless from any and all claims, actions, damages, costs, expenses (including
reasonable attorneys' fees), obligations, liabilities and liens (including any
of the foregoing arising or imposed under the doctrines of "strict liability" or
"product liability" and including, without limitation, the cost of any fines,
remedial action, damage to the environment and cleanup and the fees and costs of
consultants and experts), arising out of the manufacture, purchase, lease,
ownership, possession, operation, condition, return or use of the Equipment, or
by operation of law, excluding, however, any of the foregoing resulting from the
sole negligence or willful misconduct of Lessor. Lessee agrees that upon written
notice by Lessor of the assertion of such a claim, action, damage, obligation,
liability or lien, Lessee shall assume full responsibility for the defense
thereof. Lessee's choice of counsel shall be mutually acceptable to both Lessee
and Lessor.

        19. ASSIGNMENT.

            19.1 Lessee shall not assign this Lease or any interest in this
Lease or the Equipment, or sublet any of the Equipment, without the express
prior written consent of Lessor, which consent shall not be unreasonably
withheld; provided, however, that Lessee may assign its rights under this Lease
to an affiliate of Lessee or to the surviving corporation in the event of a
merger, reorganization or consolidation as a result of which Lessee is not the
surviving

                                      -4-
<PAGE>   5

corporation. In the event of any such assignment by Lessee, Lessee's assignee
shall have all the rights, powers, privileges, remedies and obligations of
Lessee set forth in this Lease.

            19.2 Lessor shall not assign this Lease or any of its rights herein
without the express prior written consent of Lessee, which consent shall not be
unreasonably withheld. In the event of any such assignment by Lessor, Lessor's
assignee shall have all of the rights, powers, privileges, remedies and
obligations of Lessor set forth in this Lease.

            19.3 This Lease shall be binding upon and inure to the benefit of
Lessee and Lessor and their respective permitted successors and assigns.

        20. REPRESENTATIONS AND WARRANTIES. Each party hereby represents and
warrants to the other party that: (i) all action on the part of such party
necessary for the execution, delivery and performance of this Lease by such
party has been taken, (ii) this Lease is a legal, valid and binding obligation
of such party enforceable in accordance with its terms, subject to laws of
general application relating to bankruptcy, insolvency and the relief of debtors
and rules of law governing specific performance, injunctive relief or other
equitable remedies and (iii) the execution and delivery of, and the performance
of the obligations under, this Lease by such party does not and will not
contravene or result in any breach of any law or of any regulation, order, writ,
injunction or decree of any court, tribunal, governmental body, authority,
agency or instrumentality, nor do or will such execution, delivery or
performance violate, conflict with or result in (or with notice or lapse of time
or both result in) a breach of or a default under any term or provision of any
agreement, oral or written, to which such party is a party or is bound.

        21. DEFAULT.

            21.1 The occurrence of any of the following events shall constitute
an "Event of Default by Lessee" under this Lease:

               (i)    The failure by Lessee to pay any rent payment payable to
                      Lessor hereunder within 30 days after its due date;

               (ii)   The failure by Lessee to perform any of its obligations
                      hereunder, which failure continues uncured for a period of
                      30 days following Lessor's written notice to Lessee
                      thereof; or

               (iii)  The institution by or against Lessee of any proceeding
                      under any bankruptcy, insolvency or debtor's relief law,
                      which proceeding is not dismissed within 60 days, the
                      appointment of a receiver for Lessee or its property or
                      any assignment by Lessee for the benefit of its creditors.

            21.2 The failure by Lessor to perform any of its obligations
hereunder, which failure continues uncured for a period of 30 days following
Lessee's written notice to Lessor thereof, shall constitute an "Event of Default
by Lessor" under this Lease.

                                      -5-
<PAGE>   6

        22. REMEDIES UPON EVENT OF DEFAULT.

            22.1 Upon the occurrence of any Event of Default by Lessee, and at
any time as long as such Event of Default by Lessee continues, Lessor may, at
its option, declare this Lease to be in default and exercise any one or more of
the following remedies:

               (i)    Terminate this Lease by written notice to Lessee, which
                      termination shall be effective upon delivery of such
                      notice to Lessee;

               (ii)   Demand that Lessee return the Equipment to Lessor
                      immediately in accordance with Section 13 hereof;

               (iii)  Proceed to recover damages for breach of this Lease; and

               (iv)   Exercise all rights and remedies available to Lessor at
                      law or in equity, including, without limitation, those
                      under the California Commercial Code.

            22.2 After any Event of Default by Lessee, Lessee shall reimburse
Lessor for all reasonable costs and expenses (including attorneys' fees) of
enforcement of Lessor's rights and remedies under this Section 22.

            22.3 Upon the occurrence of any Event of Default by Lessor, and at
any time as long as such Event of Default by Lessor continues, Lessee may, at
its option, declare this Lease to be in default and exercise any one or more of
the following remedies:

               (i)    Terminate this Lease by written notice to Lessor, which
                      termination shall be effective upon delivery of such
                      notice to Lessor; and

               (ii)   Exercise all rights and remedies available to Lessee at
                      law or in equity, including, without limitation, those
                      under the California Commercial Code.

            22.4 After any Event of Default by Lessor, Lessor shall reimburse
Lessee for all reasonable costs and expenses (including attorneys' fees) of
enforcement of Lessee's rights and remedies under this Section 22.

        23. FURTHER ASSURANCES. Lessee shall promptly execute and deliver to
Lessor such documents, including without limitation Uniform Commercial Code
financing statements, and take such actions as Lessor may from time to time
reasonably request to protect its interests in the Equipment and under this
Lease. Lessor shall take such actions as are reasonably requested by Lessee to
vest in Lessee the benefits of this Lease.

        24. OWNERSHIP; PERSONAL PROPERTY. The Equipment shall at all times
remain the property of Lessor and Lessee shall have no right, title or interest
therein or thereto,

                                      -6-
<PAGE>   7

except as expressly set forth in this Lease, and the Equipment shall at all
times be and remain personal property notwithstanding that the Equipment or any
part thereof may now be, or hereafter become, in any manner, affixed or attached
to real property or any improvements thereon.

        25. PURCHASE OPTION. If no Event of Default by Lessee shall have
occurred and be continuing, Lessee shall be entitled, at its option upon written
notice to Lessor, which notice must be received by Lessor at least 90 days prior
to the end of the term or any renewal term of any Equipment Schedule, to
purchase all, but not less than all, of the Equipment covered by such Equipment
Schedule from Lessor at the end of the term or any renewal term for such
Equipment Schedule at a purchase price equal to the then fair market value of
the Equipment, as mutually agreed by Lessor and Lessee (the "Purchase Option").
On a date which is no later than the expiration date of the term or any renewal
term, as applicable, of an Equipment Schedule, Lessee shall pay to Lessor the
purchase price for the Equipment covered by such Equipment Schedule (plus any
taxes levied thereon) and Lessor shall sell the Equipment "as-is, where-is"
without any warranties expressed or implied.

        26. LESSOR'S PAYMENT. If Lessee fails to provide or maintain the
insurance required pursuant to Paragraph 15 hereof, to pay any taxes, charges
and fees as required by this Lease, or to discharge any levies, liens and
encumbrances created by Lessee, Lessor shall have the right, but shall not be
obligated, to obtain such insurance, pay such taxes, charges and fees, or effect
such discharge. In that event, Lessee shall remit to Lessor the cost thereof
with the next rental payment.

        27. MISCELLANEOUS.

            27.1 Survival. The obligations set forth in Sections 16, 18, 22 and
23 hereof and this Section 27 shall survive any termination of this Agreement
for any reason.

            27.2 Notices. Any notice, request, demand, statement, authorization,
approval or consent required or permitted under this Lease shall be in writing
and shall be made by, and deemed duly given upon, (a) deposit in the mail,
postage prepaid, registered or certified, return receipt requested, (b) personal
delivery, (c) delivery to an overnight courier of recognized reputation, or (d)
facsimile transmission (with confirmation by mail), as follows, or to such other
address and/or such additional parties as either party may specify by notice
given in accordance with this Section 20.2:

If to Lessor:                Synchronous Network Solutions, Inc.
                             c/o Rager Bell Doskocil & Meyer CPAs
                             1411 West 190th Street, Suite 500
                             Gardena, CA  90248-4326
                             Attention:  Jon F. Rager
                             Facsimile:  (310) 323-4301

                                      -7-
<PAGE>   8

If to Lessee:                Ixia Communications
                             4505 Las Virgenes Road
                             Suite 209
                             Calabasas, CA  91302
                             Attention:  President
                             Facsimile:  (818) 871-1805

All such notices and communications hereunder shall be deemed given upon
personal delivery, seven business days after deposit in the mail, two business
days following deposit with any international courier service of recognized
reputation or one business day after transmission by telecopier.

            27.3 Entire Agreement. This Lease constitutes the entire contract
between the parties with respect to the subject matter covered by this Lease and
supersedes all previous discussions, negotiations, oral or written,
representations, statements, arrangements, agreements and understandings, if
any, by and between the parties with respect to the subject matter covered by
this Lease other than those herein, and any such discussions, negotiations, oral
or written, representations, statements, arrangements, agreements and
understandings are hereby canceled and terminated in all respects. This Lease
may not be amended, changed or modified except by a writing duly executed by the
parties hereto or their duly authorized representatives. The parties have made
no representations or warranties not expressly set forth in this Lease.

            27.4 Severability. In the event any provision of this Lease or the
application thereof to any circumstance shall be held by a court of competent
jurisdiction to be invalid, illegal or unenforceable, it shall be construed to
be limited or reduced so as to be enforceable to the maximum extent allowed by
applicable law as it shall then be in force, and if such construction shall not
be feasible, then such provision shall be deemed to be deleted herefrom in any
action before that court, and all other provisions of this Lease shall remain in
full force and effect.

            27.5 Remedies. All rights and remedies of the parties are separate
and cumulative, and no one of them, whether exercised or not, shall be deemed to
be to the exclusion of or to limit or prejudice any other legal or equitable
rights or remedies which the parties may have. The parties shall not be deemed
to waive any of their rights or remedies under this Lease unless such waiver is
in writing and signed by the party to be bound. No delay or omission on the part
of either party in exercising any right or remedy shall operate as a waiver of
such right or remedy or any other right or remedy. A waiver on any one occasion
shall not be construed as a bar to or waiver of any right or remedy on any
future occasion.

            27.6 Headings. The headings contained in this Lease are for
convenience only and are not a part of this Lease, and do not in any way
interpret, limit or amplify the scope, extent or intent of this Lease, or any of
the provisions of this Lease.

                                      -8-
<PAGE>   9

            27.7 Counterparts. This Lease and any Equipment Schedule hereto may
be executed in counterparts, each of which shall constitute an original, but
which together shall constitute one and the same agreement.

            27.8 Attorneys' Fees. In the event of any legal action under this
Lease, then the prevailing party in such action shall be entitled to have and
recover from the other party all costs and expenses (including attorneys' fees)
incurred in such action and any appeal therefrom.

            27.9 Expenses. Except as otherwise expressly provided for in this
Lease, each of the parties shall pay its own expenses in connection with the
negotiation, preparation and execution of this Lease and any Equipment Schedules
or other related documents and the consummation of the transactions consummated
herein and therein.

            27.10 Choice of Law and Forum. The rights and obligations of the
parties hereto shall be construed and enforced in accordance with and governed
by the internal laws (and not the conflict of laws principles) of California.
Any action or proceeding arising out of, relating to or concerning this Lease,
including, without limitation, any claim of breach of contract, shall be filed
in the Superior Court of the State of California for the County of Los Angeles
or in the United States District Court for the Central District of California
and in no other location. The parties hereby waive the right to object to such
location on the basis of venue or forum non conveniens.

            27.11 No Third Party Beneficiaries. Neither this Lease nor any
provision hereof, nor any document or instrument executed or delivered pursuant
hereto, shall be deemed to create any right in favor of or impose any obligation
upon any person or entity other than the parties hereto and their respective
permitted successors and assigns.

            27.12 Legal Advice and Construction of Agreement. Each party
represents that it has received independent legal advice with respect to the
preparation of, and the advisability of entering into, this Lease and neither
has been entitled to rely upon nor has in fact relied upon the legal or other
advice of the other party or such other party's counsel in entering into this
Lease. Each party has participated in the drafting and preparation of this
Lease, and, accordingly, in any construction or interpretation of this Lease,
the same shall not be construed against either party by reason of the source of
drafting.

            27.13 Parties' Understanding. Each party represents that it has
carefully read this Lease, that this Lease has been fully explained to it by its
attorney, that it fully understands the final and binding effect of this Lease,
that the only promises made to it to sign this Lease are those stated above, and
that it is signing this Lease voluntarily.

            27.14 Force Majeure. No party hereto shall be deemed in default if
its performance of obligations hereunder is delayed or becomes impossible or
impractical by reason of any act of God, war, fire, earthquake, strike, civil
commotion, epidemic or any other cause beyond such party's reasonable control.

                                      -9-
<PAGE>   10

            27.15 Limitation of Damages. Except as expressly set forth herein,
in any action or proceeding arising out of, relating to or concerning this
Lease, including, without limitation, any claim of breach of contract, liability
shall be limited to compensatory damages proximately caused by such breach and
no party shall, under any circumstances, be liable to the other party for
consequential, incidental, indirect or special damages, including but not
limited to lost profits or income, even if such party has been apprised of the
likelihood of such damages occurring.

        IN WITNESS WHEREOF, the parties have executed this Master Lease
Agreement effective as of the date first set forth above.

                      Lessor:        SYNCHRONOUS NETWORK SOLUTIONS, INC.

                                     By:      /s/ Jon F. Rager
                                        ----------------------------------------
                                          Jon F. Rager, Chief Financial Officer
                                              and Treasurer

                      Lessee:        IXIA COMMUNICATIONS

                                     By:      /s/ Errol Ginsberg
                                        ----------------------------------------
                                          Errol Ginsberg, President

                                      -10-
<PAGE>   11

                  EXHIBIT 1 TO MASTER EQUIPMENT LEASE AGREEMENT

                                                  EQUIPMENT SCHEDULE NO. ______

                                    Lessee:       IXIA COMMUNICATIONS
                                    Address:      4505 Las Virgenes Road,
                                                  Suite 209
                                                  Calabasas, CA  91302

        1. LEASE OF SPECIFIED EQUIPMENT. This Equipment Schedule No. _______
dated as of ______________ is entered into pursuant to and incorporates by this
reference all of the terms and provisions of that certain Master Equipment Lease
Agreement (the "Master Lease") dated as of October 1, 1997 between Synchronous
Network Solutions, Inc. ("Lessor") and Ixia Communications ("Lessee"), for the
lease of the equipment described in Schedule A attached hereto (the
"Equipment"). This Equipment Schedule shall constitute a separate, distinct and
independent lease of the Equipment and an independent contractual obligation of
Lessee. References to the "the Lease" or "this Lease" shall mean and refer to
this Equipment Schedule, together with the Master Lease and all exhibits,
addenda, schedules, certificates, riders and other documents and instruments
executed and delivered in connection with this Equipment Schedule, all as the
same may be amended or modified from time to time. All capitalized terms used
herein without definition shall have the meanings set forth or referred to in
the Master Lease. By its execution and delivery of this Equipment Schedule,
Lessee hereby reaffirms all of the representations, warranties and covenants
contained in the Master Lease, as of the date hereof, and further represents and
warrants to Lessor that no Event of Default by Lessee, and no event or condition
which with notice or the passage of time or both would constitute an Event of
Default by Lessee, has occurred and is continuing as of the date hereof.

        2. ACQUISITION COST. The acquisition cost of the Equipment is
$_____________.

        3. (a) LEASE TERM. The term of this Equipment Schedule shall commence on
the date hereof and shall continue for a period of ____ months thereafter, plus
any renewal or extended term applicable in accordance with the terms of the
Master Lease.

           (b) RENTAL PAYMENTS. Lessee shall pay to Lessor ___consecutive
rental payments of $_____ each, commencing ____________ and continuing
[MONTHLY][QUARTERLY] thereafter for the remaining term of this Equipment
Schedule. Rental payments shall be payable to Lessor at its offices at 1411 West
190th Street, Suite 500, Gardena, California 90248.

        4. EQUIPMENT LOCATION(s). The Equipment will be located at the following
location(s):

<PAGE>   12

        5. TAXES. Lessor will invoice Lessee for all sales, use and/or personal
property taxes as and when due and payable in accordance with applicable law,
unless Lessee delivers to Lessor a valid exemption certificate with respect to
such taxes. Delivery of such certificate shall constitute Lessee's
representation and warranty that no such taxes shall become due and payable with
respect to the Equipment, and Lessee shall indemnify and hold harmless Lessor
from and against any and all liability or damages, including late charges and
interest which Lessor may incur by reason of the assessment of such taxes.

Dated as of _______________________________.

SYNCHRONOUS NETWORK SOLUTIONS, INC.        IXIA COMMUNICATIONS

By:_______________________________         By:__________________________________

Name:_____________________________         Name:________________________________

Title:____________________________         Title:_______________________________

                                      -2-

<PAGE>   13
                                              EQUIPMENT SCHEDULE NO. 1

                                Lessee:       IXIA COMMUNICATIONS
                                Address:      4505 Las Virgenes Road, Suite 209
                                              Calabasas, CA  91302

        1. LEASE OF SPECIFIED EQUIPMENT. This Equipment Schedule No. 1 dated as
of October 1, 1997 is entered into pursuant to and incorporates by this
reference all of the terms and provisions of that certain Master Equipment Lease
Agreement (the "Master Lease") dated as of October 1, 1997 between Synchronous
Network Solutions, Inc. ("Lessor") and Ixia Communications ("Lessee"), for the
lease of the equipment described in Schedule A attached hereto (the
"Equipment"). This Equipment Schedule shall constitute a separate, distinct and
independent lease of the Equipment and an independent contractual obligation of
Lessee. References to the "the Lease" or "this Lease" shall mean and refer to
this Equipment Schedule, together with the Master Lease and all exhibits,
addenda, schedules, certificates, riders and other documents and instruments
executed and delivered in connection with this Equipment Schedule, all as the
same may be amended or modified from time to time. All capitalized terms used
herein without definition shall have the meanings set forth or referred to in
the Master Lease. By its execution and delivery of this Equipment Schedule,
Lessee hereby reaffirms all of the representations, warranties and covenants
contained in the Master Lease, as of the date hereof, and further represents and
warrants to Lessor that no Event of Default by Lessee, and no event or condition
which with notice or the passage of time or both would constitute an Event of
Default by Lessee, has occurred and is continuing as of the date hereof.

        2. ACQUISITION COST. The acquisition cost of the Equipment is
$47,500.46.

        3. (a) LEASE TERM. The term of this Equipment Schedule shall commence on
the date hereof and shall continue for a period of 36 months thereafter until
October 1, 2000, plus any renewal or extended term applicable in accordance with
the terms of the Master Lease.

           (b) RENTAL PAYMENTS. Lessee shall pay to Lessor 12 consecutive
rental payments of $4,372.84 each, commencing November 1, 1997 and continuing
thereafter on or before each February 1, May 1, August 1 and November 1 during
the term of this Equipment Schedule, with the last such payment being due and
payable on August 1, 2000. Rental payments shall be payable to Lessor at its
offices at 1411 West 190th Street, Suite 500, Gardena, California 90248.

        4. EQUIPMENT LOCATION(s). The Equipment will be located at the following
location(s):

                        4505 Las Virgenes Road, Suite 209
                        Calabasas, CA 91302

        5. TAXES. Lessor will invoice Lessee for all sales, use and/or personal
property taxes as and when due and payable in accordance with applicable law,
unless Lessee delivers to Lessor a valid exemption certificate with respect to
such taxes. Delivery of such certificate shall constitute Lessee's
representation and warranty that no such taxes shall become due and payable

<PAGE>   14

with respect to the Equipment, and Lessee shall indemnify and hold harmless
Lessor from and against any and all liability or damages, including late charges
and interest which Lessor may incur by reason of the assessment of such taxes.

Dated as of October 1, 1997.

<TABLE>
<CAPTION>
<S>                                                <C>
Synchronous Network Solutions Inc.                 Ixia Communications

By:     /s/ Jon F. Rager                           By:    /s/ Errol Ginsberg
   ------------------------------------------         ----------------------------------------
Name:   Jon F. Rager                               Name:  Errol Ginsberg
      ---------------------------------------            -------------------------------------
Title:  Chief Financial Officer and Treasurer      Title: President
        -------------------------------------             ------------------------------------
</TABLE>

                                      -2-
<PAGE>   15

                                   SCHEDULE A
                                       TO
                            EQUIPMENT SCHEDULE NO. 1

Please see the attached.

<PAGE>   16

                        MASTER EQUIPMENT LEASE AGREEMENT
                                     BETWEEN
                       SYNCHRONOUS NETWORK SOLUTIONS, INC.
                                       AND
                               IXIA COMMUNICATIONS

                                  ATTACHMENT TO
                                   SCHEDULE A
                           TO EQUIPMENT SCHEDULE NO. 1

One - Hewlett Packard HP 16500C Logic Analyzer equipment
        (S/N US37130156)

Two - Hewlett Packard HP 16555A Timing Card
        (S/N US34471658 & US3447144)

Four - TEK P6243  -  TEK Active Probe

One - Tektronix TDS 754A equipment  (Ref  PO#  121860)

<PAGE>   17

                                               AMENDED AND RESTATED
                                               EQUIPMENT SCHEDULE NO. 2

                                 Lessee:       IXIA COMMUNICATIONS
                                 Address:      4505 Las Virgenes Road, Suite 209
                                               Calabasas, CA  91302

        1. LEASE OF SPECIFIED EQUIPMENT. This Amended and Restated Equipment
Schedule No. 2 (this "Equipment Schedule") dated as of March 20, 1998 is entered
into pursuant to and incorporates by this reference all of the terms and
provisions of that certain Master Equipment Lease Agreement (the "Master Lease")
dated as of October 1, 1997 between Synchronous Network Solutions, Inc.
("Lessor") and Ixia Communications ("Lessee"), for the lease of the equipment
described in Schedule A attached hereto (the "Equipment"). This Equipment
Schedule supersedes and replaces in its entirety Equipment Schedule No. 2 as
previously executed by Lessor and Lessee. This Equipment Schedule shall
constitute a separate, distinct and independent lease of the Equipment and an
independent contractual obligation of Lessee. References to the "the Lease" or
"this Lease" shall mean and refer to this Equipment Schedule, together with the
Master Lease and all exhibits, addenda, schedules, certificates, riders and
other documents and instruments executed and delivered in connection with this
Equipment Schedule, all as the same may be amended or modified from time to
time. All capitalized terms used herein without definition shall have the
meanings set forth or referred to in the Master Lease. By its execution and
delivery of this Equipment Schedule, Lessee hereby reaffirms all of the
representations, warranties and covenants contained in the Master Lease, as of
the date hereof, and further represents and warrants to Lessor that no Event of
Default by Lessee, and no event or condition which with notice or the passage of
time or both would constitute an Event of Default by Lessee, has occurred and is
continuing as of the date hereof.

        2. ACQUISITION COST. The acquisition cost of the Equipment is $6,175.90.

        3. (a) LEASE TERM. The term of this Equipment Schedule shall commence on
the date hereof and shall continue until October 1, 2000, plus any renewal or
extended term applicable in accordance with the terms of the Master Lease.

           (b) RENTAL PAYMENTS. Lessee shall pay to Lessor 10 consecutive
rental payments of $672.28 each, commencing May 1, 1998 and continuing
thereafter on or before each August 1, November 1, February 1 and May 1 during
the term of this Equipment Schedule, with the last such payment being due and
payable on August 1, 2000. Rental payments shall be payable to Lessor at its
offices at 1411 West 190th Street, Suite 500, Gardena, California 90248.

        4. EQUIPMENT LOCATION(s). The Equipment will be located at the following
location(s):

                        4505 Las Virgenes Road, Suite 209
                        Calabasas, CA 91302

<PAGE>   18

        5. TAXES. Lessor will invoice Lessee for all sales, use and/or personal
property taxes as and when due and payable in accordance with applicable law,
unless Lessee delivers to Lessor a valid exemption certificate with respect to
such taxes. Delivery of such certificate shall constitute Lessee's
representation and warranty that no such taxes shall become due and payable with
respect to the Equipment, and Lessee shall indemnify and hold harmless Lessor
from and against any and all liability or damages, including late charges and
interest which Lessor may incur by reason of the assessment of such taxes.

Dated as of March 20, 1998.

<TABLE>
<CAPTION>
<S>                                               <C>
Synchronous Network Solutions Inc.                Ixia Communications

By: /s/ Jon F. Rager                              By:  /s/ Errol Ginsberg
    -----------------------------------------          --------------------------------------

Name: Jon F. Rager                                Name:  Errol Ginsberg
      ---------------------------------------            ------------------------------------

Title: Chief Financial Officer and Treasurer      Title: President
       --------------------------------------            ------------------------------------
</TABLE>

                                      -2-
<PAGE>   19

                                   SCHEDULE A
                                       TO
                            EQUIPMENT SCHEDULE NO. 2

Two WinBook Notebook Computers, XL P266 4.0 T13.3 20X/MSB 4.0, Serial Nos.
RCN406W2118N51 and RCN406W2118N49

Two WinBook XL64MBW/4MX16 144PED03.3V 60

Two WinBook Canvas Notecases

<PAGE>   20

                                               EQUIPMENT SCHEDULE NO. 3

                                  Lessee:      IXIA COMMUNICATIONS
                                  Address:     4505 Las Virgenes Road, Suite 209
                                               Calabasas, CA  91302

        1. LEASE OF SPECIFIED EQUIPMENT. This Equipment Schedule No. 3 dated as
of May 20, 1998 is entered into pursuant to and incorporates by this reference
all of the terms and provisions of that certain Master Equipment Lease Agreement
(the "Master Lease") dated as of October 1, 1997 between Synchronous Network
Solutions, Inc. ("Lessor") and Ixia Communications ("Lessee"), for the lease of
the equipment described in Schedule A attached hereto (the "Equipment"). This
Equipment Schedule shall constitute a separate, distinct and independent lease
of the Equipment and an independent contractual obligation of Lessee. References
to the "the Lease" or "this Lease" shall mean and refer to this Equipment
Schedule, together with the Master Lease and all exhibits, addenda, schedules,
certificates, riders and other documents and instruments executed and delivered
in connection with this Equipment Schedule, all as the same may be amended or
modified from time to time. All capitalized terms used herein without definition
shall have the meanings set forth or referred to in the Master Lease. By its
execution and delivery of this Equipment Schedule, Lessee hereby reaffirms all
of the representations, warranties and covenants contained in the Master Lease,
as of the date hereof, and further represents and warrants to Lessor that no
Event of Default by Lessee, and no event or condition which with notice or the
passage of time or both would constitute an Event of Default by Lessee, has
occurred and is continuing as of the date hereof.

        2. ACQUISITION COST. The acquisition cost of the Equipment is $4,551.46.

        3. (a) LEASE TERM. The term of this Equipment Schedule shall commence on
the date hereof and shall continue until October 1, 2000, plus any renewal or
extended term applicable in accordance with the terms of the Master Lease.

           (b) RENTAL PAYMENTS. Lessee shall pay to Lessor 9 consecutive rental
payments of $549.10 each, commencing August 1, 1998 and continuing thereafter on
or before each November 1, February 1, May 1 and August 1 during the term of
this Equipment Schedule, with the last such payment being due and payable on
August 1, 2000. Rental payments shall be payable to Lessor at its offices at
1411 West 190th Street, Suite 500, Gardena, California 90248.

        4. EQUIPMENT LOCATION(s). The Equipment will be located at the following
location(s):

                      4505 Las Virgenes Road, Suite 209
                      Calabasas, CA  91302

        5. TAXES. Lessor will invoice Lessee for all sales, use and/or personal
property taxes as and when due and payable in accordance with applicable law,
unless Lessee delivers to Lessor a valid exemption certificate with respect to
such taxes. Delivery of such certificate shall constitute Lessee's
representation and warranty that no such taxes shall become due and payable

<PAGE>   21

with respect to the Equipment, and Lessee shall indemnify and hold harmless
Lessor from and against any and all liability or damages, including late charges
and interest which Lessor may incur by reason of the assessment of such taxes.

Dated as of May 20, 1998.

<TABLE>
<CAPTION>
<S>                                               <C>
Synchronous Network Solutions Inc.                Ixia Communications

By:    /s/ Jon F. Rager                           By:    /s/ Errol Ginsberg
       -------------------------------------          ---------------------------------------
Name:  Jon F. Rager                               Name:  Errol Ginsberg
       -------------------------------------            -------------------------------------
Title: Chief Financial Officer and Treasurer      Title: President
       -------------------------------------             ------------------------------------
</TABLE>

                                      -2-
<PAGE>   22

                                   SCHEDULE A
                                       TO
                            EQUIPMENT SCHEDULE NO. 3

Dell  Dimension XPS R400MHz Pentium II Minitower Base with MMX Technology and
      512K Cache

MICROSOFT PS2 Intellimouse

Silitek Quiet Key, 104 Key Keyboard

245MB 100MHz SDRAM Memory

14/32X EIDE CD ROM

Dell 1000LS 17" Color Monitor, with 15.9" Viewable Image Size, Model #D1028L

STB nViDIA 4MB AGP Video Card

3.5 1.44 MB Floppy Drive

8.4 GB EIDE Ultra ATA Hard Drive

Microsoft IE4.0

McAfee VirusScan 3.1 CD, Online Documentation

W98 Upgrade Eligibility

WINDOWS '95 CD

MS BookShelf `98, CD & Manual

MS OFFICE 97 Small Business Edition, CD

Microsoft Windows NT Server 4.0 5 CAL NT CD (including MS WIN NT SERVER V4.0
      Client Access Licenses)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00012-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00012-of-00352.parquet"}]]