EXHIBIT 10.27
PROMISSORY NOTE
$694,500 JULY 26, 2000
FOR VALUE RECEIVED, GARY ELWOOD WALKER, ("WALKER"), HEREBY PROMISES TO PAY to
the order of SMTC CORPORATION, a Delaware corporation (together with its successors and assigns, the
"HOLDER"), at such place as the Holder may designate, in lawful money of the United States, the principal
amount of $694,500 (SIX HUNDRED AND NINETY-FOUR THOUSAND FIVE HUNDRED DOLLARS)
(the "LOAN"). The Loan shall bear interest at the rate prescribed in section 2(i) of the Funding Agreement (as
defined below).
For the purposes of this promissory note:
(a) "FUNDING AGREEMENT" shall mean the funding agreement entered into between Walker and the Holder
on July 26, 2000;
(b) "NOTE" shall mean this promissory note as originally executed or if later amended, modified, supplemented
or replaced, then, as so amended, modified, supplemented or replaced;
(c) "OBLIGATIONS" shall mean all principal, fees, charges, expenses, counsel fees and any other sum
chargeable to Walker under this Note, and all principal due in respect of the Loan; and
(d) "SECURITIES" shall have the meaning assigned to it in the share pledge agreement dated July 26, 2000
among Walker and the Holder.
1. PAYMENTS.
(a) The principal amount of this Note is repayable at the option of Walker in whole or in part at any time or from
time to time without notice or penalty, and is mandatorily repayable by Walker in accordance with the terms
contained in Section 2(i) of the Funding Agreement and in any event by July 26, 2020.
(b) Interest payable under this Note shall be paid under the terms and conditions set forth in section 2(i) of the
Funding Agreement
(c) All payments of principal and interest under this Note shall be in lawful money of the United States and in
same day funds, without abatement, reduction, deduction, counterclaim recoupment, defence or set-off, to the
Holder.
2. HOLDER'S RIGHTS. Upon demand for payment hereunder, the Holder is hereby authorized at any time and
from time to t