PROMISSORY NOTE
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EX-10.3 19 dex103.htm PROMISSORY NOTE-JOSEPH HINES, DATED DECEMBER 31, 2006 Promissory Note-Joseph Hines, dated December 31, 2006
Exhibit 10.3
PROMISSORY NOTE
Spheric Technologies, Inc. agrees to pay to Joseph Hines the amount of $447,000.00 upon demand after January 1, 2007 for value received with no interest noted. This amount has been created by funding loans to Spheric Technologies as a Founder in calendar year 2006 — please see the attached schedule. This liability is to be paid in US dollars or equivalent and should be considered a general obligation of the Company.
| By: | /s/ Michael Kirksey | |
| Michael Kirksey | ||
| Its: | Vice President | |
| Date: | December 31, 2006 |
