1
EXHIBIT 10.17
EXHIBIT A
NOTE
$73,131.00 Alameda, California
April 1, 2001
FOR VALUE RECEIVED, Xxxxxxx X. Xxxx ("Borrower") promises to pay to
Silicon Energy Corp., a Delaware corporation (the "Company"), or order, the
principal sum of SEVENTY-THREE THOUSAND, ONE HUNDRED THIRTY-ONE DOLLARS AND NO
CENTS ($73,131.00) together with interest on the unpaid principal hereof from
the date hereof at the rate of 4.8% per annum, compounded semiannually.
All outstanding principal and accrued interest thereon shall be due and
payable on March 31, 2004; provided, however, that upon any recoupment of
Borrower's alternative minimum tax ("AMT") in a subsequent tax year (the
"Recoupment Amount"), Borrower shall, within 10 days after receipt of such
Recoupment Amount, pay to the Company such Recoupment Amount, which payment
shall first be applied to outstanding accrued interest and then to the
outstanding principal balance. Payment of principal and interest shall be made
in lawful money of the United States of America.
The undersigned may at any time prepay all or any portion of the
principal or interest owing hereunder.
The holder of this Note shall have full recourse against the
undersigned in the event of default.
In the event the undersigned shall cease to be an employee, director or
consultant of the Company for any reason ("Termination"), this Note shall, at
the option of the Company, be accelerated, and the whole unpaid balance on this
Note of principal and accrued interest shall be due and payable on the date that
is nine (9) months following the date the Termination.
Should any action be instituted for the collection of this Note, the
reasonable costs and attorneys' fees therein of the holder shall be paid by the
undersigned.
/s/ Xxxxxxx X. Xxxx
----------------------------------
Xxxxxxx X. Xxxx
