EXHIBIT 10.6
PROMISSORY NOTE
U.S. $____________________ March 31, 2000
Rochester, Minnesota
FOR VALUE RECEIVED, the undersigned ("Borrower") promises to pay to the
order of PEMSTAR INC. (together with its successors and assigns hereinafter
called "Holder") on March 31, 2002 at Rochester, Minnesota, or such other place
as the Holder may designate, the principal sum of _____________________________
($____________________), together with interest thereon from the date of this
Note, until paid, at the rate of six and one-half percent (6 1/2%) per annum
compounded annually.
If suit is brought to collect this Note, the Holder shall be entitled to
collect all reasonable costs and expenses of suit, including, but not limited
to, reasonable attorney's fees.
Borrower may prepay this Note in whole or in part. All such payments shall
be applied first to accrued interest and then to principal.
Presentment, notice of dishonor, and protest are hereby waived by all
makers, sureties, guarantors and endorsers hereof.
This Note is a full recourse promissory note, but is also secured by a
Stock Pledge Agreement of even date herewith executed by Xxxxxxxx and delivered
to Holder.
THIS NOTE SHALL BE CONSTRUED UNDER AND GOVERNED BY THE LAWS OF THE STATE OF
MINNESOTA.
AT THE OPTION OF THE HOLDER, THIS NOTE MAY BE ENFORCED IN OLMSTED COUNTY,
MINNESOTA DISTRICT COURT AND BORROWER CONSENTS TO THE JURISDICTION AND VENUE OF
SUCH COURT AND WAIVES ANY ARGUMENT THAT VENUE IN SUCH FORUM IS NOT CONVENIENT.
IN THE EVENT BORROWER COMMENCES ANY ACTION IN ANOTHER JURISDICTION OR VENUE
UNDER ANY TORT OR CONTRACT THEORY ARISING DIRECTLY OR INDIRECTLY FROM THE
RELATIONSHIP CREATED BY THIS NOTE, HOLDER AT ITS OPTION SHALL BE ENTITLED TO
HAVE THE CASE TRANSFERRED TO THE JURISDICTION AND VENUE ABOVE-DESCRIBED, OR IF
SUCH TRANSFER CANNOT BE ACCOMPLISHED UNDER APPLICABLE LAW, TO HAVE SUCH CASE
DISMISSED WITHOUT PREJUDICE.
IN WITNESS WHEREOF, Xxxxxxxx has executed this Note as of the date first
above written.
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