Recently, NetEffect has introduced the first and only iWARP-enabled 10-Gigabit Ethernet Channel Adapter. This white paper presents the performance of the NetEffect PCI Express 10-Gigabit iWARP Ethernet adapter at the NetEffect verbs layer and the MPI implementation. At the verbs layer, our evaluation includes the basic latency and bandwidth tests for both Send/Receive and RDMA write operations, as well as the cost of memory registration. At the MPI level, we present the basic latency and bandwidth, aggregate bandwidth, hotspot bandwidth, and the computation/communication overlap ability for the NetEffect MPI implementation.