Promissory Note between Spheric Technologies, Inc. and Joseph Hines dated March 31, 2007
Spheric Technologies, Inc. has agreed to repay Joseph Hines $63,600 for loans he provided as a founder during the first quarter of 2007. The company must pay this amount in U.S. dollars or equivalent upon demand any time after April 1, 2007. No interest will be charged on the amount owed. This note is a general obligation of Spheric Technologies, Inc.
Exhibit 10.4
PROMISSORY NOTE
Spheric Technologies, Inc. agrees to pay to Joseph Hines the amount of $63,600.00 upon demand after April 1, 2007 for value received with no interest noted. This amount has been created by funding loans to Spheric Technologies as a Founder in the first quarter of calendar year 2007 — 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: | March 31, 2007 |
