Exhibit 10.16

DO NOT DESTROY THIS NOTE: WHEN PAID, THIS NOTE AND DEED OF TRUST SECURING SAME
MUST BE SURRENDERED TO TRUSTEE FOR CANCELLATION BEFORE RECONVEYANCE WILL BE
MADE.

                    PROMISSORY NOTE SECURED BY DEED OF TRUST
                    ----------------------------------------

$1,200,000.00                                          Scotts Valley, California
                                                               February 16, 2001

For value received, the undersigned, Jeremy Tennenbaum and Isabelle Tennenbaum,
(collectively, "Maker"), currently residing at 520 Railway Avenue, Suite, 388,
Campbell, California 95008, jointly severally promise to pay in lawful money of
the United States of America, to Seagate Technology LLC, or order (hereinafter
"Holder"), at 920 Disc Drive, Scotts Valley, California 95066 or at such other
place as Holder may from time to time designate by written notice to Maker, the
principal sum of ONE MILLION TWO HUNDRED THOUSAND and NO/100 DOLLARS
($1,200,000), with interest at the rate of eight percent (8 %) per annum,
accrued interest to be forgiven at the end of every twelve (12) months from the
date of execution hereof, provided Jeremy Tennenbaum is still employed by
Seagate Technology LLC, or a subsidiary or affilate thereof, (collectively,
"Seagate") at that time. This Note shall become due and payable February 16,
2006, except as provided below.

Seagate promises to forgive $200,000 of the principal on the second anniversary
of the effective date of this Note; $200,000 of the principal on the third
anniversary of the effective date of this Note; and $200,000 of the principal on
the fourth anniversary of the effective date of this Note, provided that
Employee is still employed by Seagate on the applicable anniversary dates.

Should Jeremy Tennenbaum voluntarily resign his employment with Seagate or
otherwise be terminated by Seagate prior to February 16, 2006, all unforgiven
principal plus any accrued interest shall become immediately due and payable, or
if there be any default in the payment of this Note, interest will begin
accruing at eight percent (8%) per annum until the Note is paid in full. Should
Jeremy Tennenbaum be terminated during a Seagate-initiated reduction in force,
or become deceased, this Note shall become due and payable sixty (60) months
from the date of execution hereof, and all interest will be forgiven. Nothing
contained herein constitutes any promise, express or implied, as to Jeremy
Tennenbaum's continuation of employment. Maker agrees to pay federal and state
taxes, if any, which are required by law to be paid with respect to this Note.

This Note is secured by a Deed of Trust. If the trustor shall sell, convey or
alienate said property, or any part thereof, of any interest therein, or shall
be divested of their title of any interest herein in any manner or way, whether
voluntary or involuntary, beneficiary shall have the right, at its option,
except as prohibited by law, to declare the whole sum of



principal and accrued interest immediately due and payable, without notice or
demand, irrespective of the maturity date, if any, specified in the Note.

Should any default be made in the performance of any of the agreements contained
in the Deed of Trust securing this Note, then the whole sum of principal and
accrued interest shall become immediately due and payable, without notice, at
the option of the Holder of this Note. Failure to exercise such option shall not
constitute a waiver of the right to exercise it in the event of any subsequent
default.

This Note contains a balloon payment. This Note is subject to Section 2966 of
the Civil Code, which provides that the Holder of this Note give written notice
to the Maker or their successor-in-interest of prescribed information at least
sixty (60) days and not more than one-hundred and fifty (150) days before any
balloon payment is due.

Maker agrees to pay the following costs, expense and attorney's fees paid or
incurred by the Holder of this Note: (1) reasonable costs of collection, costs
and expenses and attorney's fees paid or incurred in connection with the
collection or enforcement of this Note, whether or not suit is filed; and (2)
costs of suit and such sum as the court may adjudge as attorney's fees in any
action to enforce payment of this Note or any part of it.

Executed this 20 day of February, 2001    Executed this 20 day of February, 2001
at Scotts Valley, California.             at Scotts Valley, California.

/s/ JEREMY TENNENBAUM                     /s/ JEREMY TENNENBAUM*
___________________________________       ______________________________
Jeremy Tennenbaum                         Isabelle Tennenbaum

Approved as to form and content:          *signed for Isabelle Tennenbaum
                                          as Power of Attorney



/s/ CHARLES C. POPE
___________________________________
Charles C. Pope
Executive Vice President &
Chief Financial Officer