<PAGE>   1
                                                                    EXHIBIT 10.3

                                  SAND WARRANT

NEITHER THIS WARRANT NOR THE SECURITIES TO BE ISSUED UPON EXERCISE HEREOF HAVE
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR
UNDER THE SECURITIES LAWS OF ANY STATE. THIS WARRANT AND THE SECURITIES TO BE
ISSUED UPON EXERCISE HEREOF ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND
RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT
AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION
THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN
FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED
TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE
SECURITIES LAWS.

                    SUNRISE TECHNOLOGIES INTERNATIONAL, INC.


               WARRANT FOR THE PURCHASE OF SHARES OF COMMON STOCK

    No. 2000 W-S-1                                        750,000 Shares

        FOR VALUE RECEIVED, SUNRISE TECHNOLOGIES INTERNATIONAL, INC., a
    corporation duly organized and existing under the laws of the State of
    Delaware (the "Company," which term includes any successor), with its
    principal office at 3400 West Warren Avenue, Fremont, California 94538,
    hereby certifies that Dr. Bruce Sand, M.D. (the "Holder") is entitled,
    subject to the provisions of this Warrant, to purchase from the Company, at
    any time after the Warrant Shares, as defined herein, are registered with
    the Securities and Exchange Commission (the "SEC"), but before 5:00 p.m.
    (Eastern Standard Time) on June 16, 2005 (the "Expiration Date"), the number
    of fully paid and nonassessable shares of Common Stock of the Company set
    forth above, subject to adjustment as hereinafter provided.

        The Holder may purchase such number of shares of Common Stock at a
    purchase price per share (as appropriately adjusted pursuant to Section 6
    hereof) of $.01 (the "Exercise Price"). The term "Common Stock" shall mean
    the aforementioned Common Stock of the Company, together with any other
    equity securities that may be issued by the Company in addition thereto or
    in substitution therefor as provided herein.

        The number of shares of Common Stock to be received upon the exercise or
    exchange of this Warrant and the price to be paid for a share of Common
    Stock are subject to adjustment from time to time as hereinafter set forth.
    The shares of Common Stock deliverable upon such exercise or exchange, as
    adjusted from time to time, are hereinafter sometimes referred to as
    "Warrant Shares."

                                      -1-
<PAGE>   2

        Section 1. Exercise of and Payment for Warrant. Subject to Sections 3,
    9, 10 and 11 (and in no event later than the Expiration Date), this Warrant
    may be exercised, in whole or in part on any business day on or before the
    Expiration Date by presentation and surrender hereof to the secretary of the
    Company at its principal office at the address set forth in the initial
    paragraph hereof (or at such other address as the Company may hereafter
    notify the Holder in writing) with the Purchase Form attached hereto as
    Exhibit A duly executed and accompanied by proper payment of the Exercise
    Price in one or more of the following methods, at the election of the Board
    of the Company:

               (a) cash;

               (b) check; or

               (c) surrender of other shares of Common Stock of the Company
    which: (A) either have been owned by the Holder for more than six (6) months
    on the date of surrender or were not acquired, directly or indirectly, from
    the Company; and (B) have a Current Market Price on the date of surrender
    equal to the Exercise Price of the Warrant Shares as to which the Warrant is
    being exercised.

        If this Warrant should be exercised in part only, the Company shall,
    upon surrender of this Warrant, execute and deliver a new Warrant evidencing
    the rights of the Holder thereof to purchase the balance of the Warrant
    Shares purchasable hereunder. Upon receipt by the secretary of the Company
    of this Warrant and such Purchase Form, together with proper payment of the
    Exercise Price, at such office, the Holder shall be deemed to be the holder
    of record of the Warrant Shares, notwithstanding that the stock transfer
    books of the Company shall then be closed or that certificates representing
    such Warrant Shares shall not then be actually delivered to the Holder. The
    Company shall pay any and all documentary stamp or similar issue or transfer
    taxes payable in respect of the issue or delivery of the Warrant Shares.
    Notwithstanding the above, no Warrant Shares will be issued unless such
    issuance shall comply with all relevant provisions of law and the
    requirements of any stock exchange upon which the Common Stock may then be
    listed.

        Section 2. Reservation of Shares. The Company hereby agrees that at all
    times there shall be reserved for issuance and delivery upon exercise or
    exchange of this Warrant all shares of its Common Stock or other shares of
    capital stock of the Company from time to time issuable upon exercise or
    exchange of this Warrant. All such shares shall be duly authorized and, when
    issued upon the exercise or exchange of the Warrant in accordance with the
    terms hereof, shall be validly issued, fully paid and nonassessable, free
    and clear of all liens, security interests, charges and other encumbrances
    or restrictions on sale (other than as provided in the Company's certificate
    of incorporation and any restrictions on sale set forth herein or pursuant
    to applicable federal and state securities laws) and free and clear of all
    preemptive rights.

        Section 3. Fractional Interest. The Company will not issue a fractional
    share of Common Stock upon exercise or exchange of this Warrant. Instead,
    the Company will

                                      -2-
<PAGE>   3

    deliver its check for the current market value of the fractional share. The
    current market value of a fraction of a share is determined as follows:
    multiply the Current Market Price of a full share by the fraction of a share
    and round the result to the nearest cent.

        Section 4. Assignment or Loss of Warrant.

               (a) This Warrant may not be transferred in any manner otherwise
    than by will or by the laws of descent or distribution and may be exercised
    during the lifetime of Holder only by him. The terms of this Warrant shall
    be binding upon the executors, administrators, heirs, successors, and
    assigns of the Holder.

               (b) Upon receipt of evidence satisfactory to the Company of the
    loss, theft, destruction or mutilation of this Warrant, and (in the case of
    loss, theft or destruction) of indemnification satisfactory to the Company,
    and upon surrender and cancellation of this Warrant, if mutilated, the
    Company shall execute and deliver a new Warrant of like tenor and date.

        Section 5. Rights of the Holder. The Holder shall not, by virtue hereof,
    be entitled to any rights of a stockholder in the Company, either at law or
    equity, and the rights of the Holder are limited to those set forth in this
    Warrant. Nothing contained in this Warrant shall be construed as conferring
    upon the Holder hereof the right to vote or to consent or to receive notice
    as a stockholder of the Company on any matters or with respect to any rights
    whatsoever as a stockholder of the Company. No dividends or interest shall
    be payable or accrued in respect of this Warrant or the interest represented
    hereby or the Warrant Shares purchasable hereunder until, and only to the
    extent that, this Warrant shall have been exercised or exchanged in
    accordance with its terms.

        Section 6. Adjustment of Exercise Price and Number of Shares. The number
    and kind of securities purchasable upon the exercise or exchange of this
    Warrant and the Exercise Price shall be subject to adjustment from time to
    time upon the occurrence of certain events, as follows:

               (a) Adjustment for Change in Capital Stock. If at any time after
    the date hereof, the Company:

                        (1)   pays a dividend or makes a distribution on its
                              Common Stock in shares of its Common Stock;

                        (2)   subdivides its outstanding shares of Common Stock
                              into a greater number of shares;

                        (3)   combines its outstanding shares of Common Stock
                              into a smaller number of shares;

                        (4)   makes a distribution on its Common Stock in shares
                              of its capital stock other than Common Stock; or

                                      -3-
<PAGE>   4


                        (5)   issues by reclassification of its Common Stock any
                              shares of its capital stock;

    then the Exercise Price in effect immediately prior to such action shall be
    adjusted so that the Holder may receive, upon exercise or exchange of this
    Warrant and payment of the same aggregate consideration, the number of
    shares of capital stock of the Company which the Holder would have owned
    immediately following such action if the Holder had exercised or exchanged
    the Warrant immediately prior to such action.

               The adjustment shall become effective immediately after the
    record date in the case of a dividend or distribution and immediately after
    the effective date in the case of a subdivision, combination or
    reclassification.

               (b) Deferral of Issuance or Payment. In any case in which an
    event covered by this Section 6 shall require that an adjustment in the
    Exercise Price be made effective as of a record date, the Company may elect
    to defer until the occurrence of such event: (i) issuing to the Holder, if
    this Warrant is exercised after such record date, the shares of Common Stock
    and other capital stock of the Company, if any, issuable upon such exercise
    over and above the shares of Common Stock or other capital stock of the
    Company, if any, issuable upon such exercise on the basis of the Exercise
    Price in effect prior to such adjustment; and (ii) paying to the Holder by
    check any amount in lieu of the issuance of fractional shares pursuant to
    Section 3.

               (c) When No Adjustment Required. No adjustment need be made for a
    change in the par value or no par value of the Common Stock.

               (d) Current Market Price. The "Current Market Price" per share of
    Common Stock on any date is the average of the Quoted Prices of the Common
    Stock for the 30 consecutive trading days prior to the date in question. The
    "Quoted Price" of the Common Stock is the last reported sales price of the
    Common Stock as reported by NASDAQ, or the primary national securities
    exchange on which the Common Stock is then quoted; provided, however, that
    if quotes for the Common Stock are not reported by NASDAQ and the Common
    Stock is neither traded on the NASDAQ National Market, on a national
    securities exchange, on the NASDAQ Small Cap Market nor on the OTC
    Electronic Bulletin Board, the price referred to above shall be the price
    reflected in the over-the-counter market as reported by the National
    Quotation Bureau, Inc. or any organization performing a similar function.

               (e) No Adjustment Upon Exercise of Warrants. No adjustments shall
    be made under any Section herein in connection with the issuance of Warrant
    Shares upon exercise or exchange of the Warrants.

               (f) Common Stock Defined. Whenever reference is made in Section
    6(a) to the issue of shares of Common Stock, the term "Common Stock" shall
    include any equity securities of any class of the Company hereinafter
    authorized which shall not be

                                      -4-
<PAGE>   5


    limited to a fixed sum or percentage in respect of the right of the holders
    thereof to participate in dividends or distributions of assets upon the
    voluntary or involuntary liquidation, dissolution or winding up of the
    Company. Subject to the provisions of Section 8 hereof, however, shares
    issuable upon exercise or exchange hereof shall include only shares of the
    class designated as Common Stock of the Company as of the date hereof or
    shares of any class or classes resulting from any reclassification or
    reclassifications thereof or as a result of any corporate reorganization as
    provided for in Section 8 hereof.

        Section 7. Officers' Certificate. Whenever the Exercise Price shall be
    adjusted as required by the provisions of Section 6, the Company shall
    forthwith file in the custody of its secretary or an assistant secretary at
    its principal office an officers' certificate showing the adjusted Exercise
    Price determined as herein provided, setting forth in reasonable detail the
    facts requiring such adjustment and the manner of computing such adjustment.
    Each such officers' certificate shall be signed by the chairman, president
    or chief financial officer of the Company and by the secretary or any
    assistant secretary of the Company. Each such officers' certificate shall be
    made available at all reasonable times for inspection by the Holder or any
    holder of a Warrant executed and delivered pursuant to Section 4 hereof.

        Section 8. Reclassification, Reorganization, Consolidation or Merger. In
    the event of any reclassification, capital reorganization or other change of
    outstanding shares of Common Stock of the Company (other than a subdivision
    or combination of the outstanding Common Stock or other change contemplated
    by Section 6(a) hereof and other than a change in the par value of the
    Common Stock) or in the event of any consolidation or merger of the Company
    with or into another corporation (other than a merger in which merger the
    Company is the continuing corporation and that does not result in any
    reclassification, capital reorganization or other change of outstanding
    shares of Common Stock of the class issuable upon exercise or exchange of
    this Warrant) or in the event of any sale, lease, transfer or conveyance to
    another corporation of the property and assets of the Company as an entirety
    or substantially as an entirety, the Company shall use its best efforts to
    cause effective provisions to be made so that the Holder shall have the
    right thereafter, by exercising this Warrant, to purchase the kind and
    amount of shares of stock and other securities and property (including cash)
    receivable upon such reclassification, capital reorganization and other
    change, consolidation, merger, sale or conveyance by a holder of the number
    of shares of Common Stock that might have been received upon exercise or
    exchange of this Warrant immediately prior to such reclassification, capital
    reorganization, change, consolidation, merger, sale or conveyance. Any such
    provision shall include provisions for adjustments in respect of such shares
    of stock and other securities and property that shall be as nearly
    equivalent as may be practicable to the adjustments provided for in this
    Warrant. The foregoing provisions of this Section 8 shall similarly apply to
    successive reclassifications, capital reorganizations and changes of shares
    of Common Stock and to successive consolidations, mergers, sales or
    conveyances.

                                      -5-
<PAGE>   6

        Section 9. Transfer to Comply with the Securities Act of 1933:
    Registration Rights.

               (a) No sale, transfer, assignment, hypothecation or other
    disposition of this Warrant or of the Warrant Shares, in whole or in part,
    shall be made unless any such transfer, assignment or other disposition will
    comply with the rules and statutes administered by the Securities and
    Exchange Commission and: (i) a Registration Statement under the Act
    including such shares is currently in effect; or (ii) in the opinion of
    counsel, which counsel and which opinion shall be reasonably satisfactory to
    the Company, a current Registration Statement is not required for such
    disposition of the shares. Each stock certificate representing Warrant
    Shares issued upon exercise or exchange of this Warrant shall bear the
    following legend (unless, in the opinion of counsel, which counsel and which
    opinion shall be reasonably satisfactory to the Company, such legend is not
    required):

           "THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
           SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE
           SECURITIES LAWS OF ANY STATE. THESE SECURITIES ARE SUBJECT TO
           RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED
           OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND THE APPLICABLE STATE
           SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. THE
           ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM
           AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY
           PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY
           APPLICABLE STATE SECURITIES LAWS."

        Section 10. Holder's Representations. In the event the Shares
    purchasable pursuant to the exercise of this Warrant have not been
    registered under the Securities Act of 1933, as amended, at the time this
    Warrant is exercised, Holder shall, concurrently with the exercise of all or
    any portion of this Warrant, deliver to the Company his Investment
    Representation Statement attached hereto as Exhibit B.

        Section 11. Modification and Waiver. Neither this Warrant nor any term
    hereof may be changed, waived, discharged or terminated other than by an
    instrument in writing signed by the Company and by the holder hereof.

        Section 12. Notices. Any notice, request or other document required or
    permitted to be given or delivered to the holder hereof or the Company shall
    be delivered or shall be sent by certified mail, postage prepaid, to each
    such holder at its address as shown on the books of the Company or to the
    Company at the address indicated therefor in the first paragraph of this
    Warrant.

                                      -6-
<PAGE>   7

        Section 13. Descriptive Headings and Governing Law. The description
    headings of the several sections and paragraphs of this Warrant are inserted
    for convenience only and do not constitute a part of this Warrant. This
    Warrant shall be construed and enforced in accordance with, and the rights
    of the parties shall be governed by, the laws of the State of Delaware.

        Section 14. Registration of Warrant Shares. The Company shall attempt to
    duly register the Warrant Shares with the SEC within 90 days after the
    execution of this Warrant.

        IN WITNESS WHEREOF, the Company has duly caused this Warrant to be
    signed by its duly authorized officer and to be dated as of June 16, 2000.

                                        SUNRISE TECHNOLOGIES INTERNATIONAL, INC.



                                            By: /s/ JOHN N. HENDRICK
                                               --------------------------------
                                                 Name: John N. Hendrick
                                                      -------------------------
                                                 Title: C.O.O.
                                                       ------------------------


                                      -7-
<PAGE>   8

                                    EXHIBIT A

                          NOTICE OF EXERCISE OF WARRANT

    Date:
         --------------------------

    To: Sunrise Technologies International, Inc.
        Attn: Secretary
        3400 West Warren Avenue
        Fremont, California  94538

    This is my notice to exercise my Warrant:
<TABLE>
<CAPTION>

    ------------------------------------------------------------------------------------------------
    <S>                    <C>                  <C>   <C>                <C>  <C>
    Grant Date             Number of Shares           Exercise Price          Total     Cost     of
                                                                               Exercised Shares
    ------------------------------------------------------------------------------------------------
                                                 x                        =
    ------------------------------------------------------------------------------------------------
                                                 x                        =
    ------------------------------------------------------------------------------------------------
                                                 x                        =
    ------------------------------------------------------------------------------------------------
                                                 x                        =
    ------------------------------------------------------------------------------------------------
                                                 x                        =
    ------------------------------------------------------------------------------------------------
    *PLEASE ENCLOSE A CASHIER'S CHECK FOR THE TOTAL COST OF SHARES YOU WISH TO
    EXERCISE. YOUR REQUEST WILL NOT BE PROCESSED WITHOUT PAYMENT.
</TABLE>

    Please deliver shares to:
                             ----------------------------------------------


                             Acct. No. (if applicable)
                                                      ----------------------

                                      -8-
<PAGE>   9


    I understand the exercise of this Warrant and my ownership of the shares is
    subject to all the terms and provisions of the Warrant and its related
    agreements.



    Print Name as it appears on share certificate  Signature of Holder

    Address                                        Telephone Number

    City/State/Zip                                 Social Security Number




    Approved:  Sunrise Technologies International, Inc.

    By:                                          Title:
       ------------------------------                  -----------------------

                                      -9-
<PAGE>   10

                                    EXHIBIT B

                       INVESTMENT REPRESENTATION STATEMENT


    PURCHASER:
              --------------------------------------------------------

    COMPANY:   SUNRISE TECHNOLOGIES INTERNATIONAL, INC.

    SECURITY:  COMMON STOCK

    AMOUNT:                      SHARES
           ----------------------

         In connection with the purchase of the above-listed Securities, I, the
    Purchaser, represent to the Company the following:

               (a) I am aware of the Company's business affairs and financial
    condition, and have acquired sufficient information about the Company to
    reach an informed and knowledgeable decision to acquire the Securities. I am
    purchasing these Securities for my own account for investment purposes only
    and not with a view to, or for the resale in connection with, any
    "distribution" thereof for purposes of the Securities Act of 1933, as
    amended (the "Securities Act").

               (b) I understand that the Securities have not been registered
    under the Securities Act in reliance upon a specific exemption therefrom,
    which exemption depends upon, among other things, the bona fide nature of my
    investment intent as expressed herein. In this connection, I understand
    that, in the view of the Securities and Exchange Commission (the "SEC"), the
    statutory basis for such exemption may be unavailable if my representation
    was predicated solely upon a present intention to hold these Securities for
    any fixed period in the future, including but not limited to, the minimum
    capital gains period specified under tax statutes, for a deferred sale, or
    until an increase or decrease in the market price of the Securities, or for
    a period of one year, or any other fixed period in the future.

               (c) I further understand that the Securities must be held
    indefinitely unless subsequently registered under the Securities Act or
    unless an exemption from registration is otherwise available. Moreover, I
    understand that the Company is under no obligation to register the
    Securities. In addition, I understand that the certificate evidencing the
    Securities will be imprinted with a legend which prohibits the transfer of
    the Securities unless they are registered or such registration is not
    required in the opinion of counsel for the Company.

               (d) I am familiar with the provisions of Rule 144, promulgated
    under the Securities Act, which, in substance, permits limited public resale
    of "restricted

                                      -10-
<PAGE>   11

    securities" acquired, directly or indirectly, from the issuer thereof, in a
    non-public offering subject to the satisfaction of certain conditions. The
    Securities may be resold in certain limited circumstances subject to the
    provisions of Rule 144, which requires among other things: (1) the
    availability of certain public information about the Company; (2) the resale
    occurring not less than one year after the party has purchased, and made
    full payment for, within the meaning of Rule 144, the securities to be sold;
    and, in the case of an affiliate, or a non-affiliate who has held the
    securities less than two years; and (3) the sale being made through a broker
    in an unsolicited "broker's transaction" or in transactions directly with a
    market maker (as said term is defined under the Securities Exchange Act of
    1934) and the amount of securities being sold during any three month period
    not exceeding the specified limitations stated therein, if applicable.

               (e) I agree, in connection with a public offering of the
    Company's securities, (1) not to sell, make short sale of, loan, grant any
    options for the purchase of, or otherwise dispose of any shares of Common
    Stock of the Company held by me (other than those shares included in the
    registration) without the prior written consent of the Company or the
    underwriters managing such underwritten public offering of the Company's
    securities for one hundred eighty (180) days from the effective date of such
    registration, and (2) I further agree to execute any agreement reflecting
    (1) above as may be requested by the underwriters at the time of the public
    offering; provided however that the officers and directors of the Company
    who own the stock of the Company also agree to such restrictions.

               (f) I further understand that in the event all of the applicable
    requirements of Rule 144 are not satisfied, registration under the
    Securities Act, compliance with Regulation A, or some other registration
    exemption will be required; the Staff of the SEC has expressed its opinion
    that persons proposing to sell private placement securities other than in a
    registered offering and otherwise than pursuant to Rule 144 will have a
    substantial burden of proof in establishing that an exemption from
    registration is available for such offers or sales, and that such persons
    and their respective brokers who participate in such transactions do so at
    their own risk.




                                      (Signature of Purchaser)

                                      Date:
                                           ------------------------

                                      -11-
<PAGE>   12


                           DRAFTER'S INFORMATION SHEET
                           (for Document Number 14995)


    1.  Number of Warrant Shares:
                                 -----------------------------------
    2.  Name of Warrant Holder:
                               -------------------------------------

    3.  Expiration Date:
                        --------------------------------------------

    4.  Exercise Price:
                       ---------------------------------------------

    5.  Date of Warrant:
                        --------------------------------------------

                                      -12-