Comment 2 for bug 366177

Actually, this was not working for me with the following config:

auto bond0
iface bond0 inet static
    address 10.0.1.27
    netmask 255.255.0.0
    network 10.0.0.0
    gateway 10.0.1.1
    slaves eth0 eth1

But, by adding these additional options, and rebooting, now the link is up for me:

auto bond0
iface bond0 inet static
    address 10.0.1.27
    netmask 255.255.0.0
    network 10.0.0.0
    gateway 10.0.1.1
    broadcast 10.0.255.255
    bond_mode 4
    bond_miimon 100
    bond_downdelay 200
    bond_updelay 200
    slaves eth0 eth1

Maybe the bond_updelay is necessary for this to work correctly?