EXHIBIT 10.21
Date: May 20, 1997
Subject: LOAN TO XX. XXXXX XXX
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Xx. Xxxxx Xxx will receive a loan from Summit Design (EDA) Ltd. (The Company)
on May 22, 1997. The Loan will be in the amount of $350,000, and will bear an
interest rate of 5% per year, payable on 12/31 each year or earlier if the loan
is paid in full.
The loan must be repaid out of Xx. Xxxxx Xxx'x proceeds of selling his house and
his stock in Summit Design Inc. The loan will be paid back within 5 years
unless Xx. Xxxxx Xxx leaves the company and in that case the loan will be paid
back immediately.
Summit is to effect a security interest in Xx. Xxxxx Xxx'x new home (first
position) and in his Summit Stock.
/s/ XXXXX X. XXXXXXX /s/ MR. XXX XXXXX
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Summit Design (EDA) Ltd. Mr. Xxx Xxxxx
/s/ X. XXXXXX XXXX /s/ XXX. XXX XXXX
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Summit Design, Inc. Xxx. Xxx Haya
C. Xxxxxx Xxxx
CFO
