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Exhibit
10.1
Execution
Copy
PROMISSORY NOTE
(“Buyer
Note”)
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$1,431,718.40
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San Diego, California
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June 27, 2008
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FOR VALUE RECEIVED, the undersigned
(“Maker”) promises to pay to ADAPTEC, INC., a Delaware
corporation (herein referred to as “Holder”), the
principal amount of One Million Four Hundred Thirty One Thousand
Seven Hundred Eighteen Dollars and Forty Cents ($1,431,718.40),
subject to adjustment as provided below, with interest thereon at
the rate of 4% per annum. The entire unpaid principal and all
accrued but unpaid interest shall be due and payable on the date
which is 12 months from the date hereof (the “Maturity
Date”). Principal and interest shall be payable in lawful
money of the United States. Maker shall make all payments due
hereunder by check payable to Payee delivered or mailed as follows
(or by wire transfer of immediately available funds to an account
designated by Holder in writing):
691 S. Milpitas Blvd.
Milpitas, CA 95035
This Promissory Note has been
executed and delivered pursuant to and in accordance with the terms
and conditions of the Asset Purchase Agreement, dated June 27,
2008, by and between Maker and Holder (the
“Agreement”), and is subject to the terms and
conditions of the Agreement, which are, by this
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