Promissory Note between Spheric Technologies, Inc. and Joseph Hines dated December 31, 2007
Spheric Technologies, Inc. promises to pay Joseph Hines $55,000 for loans he provided as a founder during 2007. The company must pay this amount in U.S. dollars or equivalent upon demand after March 31, 2008. No interest is charged on the loan. This note is signed by the company's Vice President and is a general obligation of Spheric Technologies, Inc.
Exhibit 10.5
PROMISSORY NOTE
Spheric Technologies, Inc. agrees to pay to Joseph Hines the amount of $55.000.00 upon demand after March 31, 2008 for value received with no interest noted. This amount has been created by funding loans to Spheric Technologies as a Founder in the 2nd and 3rd quarters 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: December 31, 2007
