<PAGE>   1
                                                                    EXHIBIT 10.1

                                    BORROWER
                           Global Election Systems, Inc.
                           A New Mexico Corporation            COMMERCIAL
                                                             VARIABLE RATE
COMPASS BANK                                                  PROMISSORY
P O Box 26144                                                    NOTE
Albuquerque, NM 87125
(800) 570-2173 "LENDER"             ADDRESS
                           1611 Willmeth Road
                           McKinney, TX 75069-8250

                      TELEPHONE NO.      IDENTIFICATION NO.
                                              85039490

<Table>
<S>              <C>        <C>           <C>        <C>         <C>       <C>
   OFFICER        INTEREST   PRINCIPAL     FUNDING     MATURITY   CUSTOMER    LOAN
IDENTIFICATION      RATE       AMOUNT        DATE       DATE       NUMBER    NUMBER

JS                VARIABLE   $546,200.00   09/08/01    12/08/01              2218900
---------------  ---------- ------------  ---------   ----------  --------  --------
Initially was to finance the installation and training for election system, King
Co.
</Table>

PROMISE TO PAY: For value received, Borrower promises to pay to the order of
Lender the principal amount of Five Hundred Forty Six Thousand Two Hundred and
no/100 Dollars ($546,200.00) plus interest on the unpaid principal balance at
the rate and in the manner described below, until all amounts owing under this
Note are paid in full. All amounts received by Lender shall be applied first to
accrued, unpaid interest, then to unpaid principal, and then to any late charges
or expenses, or in any other order as determined by Lender. In Lender's sole
discretion, as permitted by law.

INTEREST RATE: This Note has a variable interest rate feature. The interest
rate on this Note may change from time to time if the Index Rate identified
below changes. Interest shall be computed on the basis of the actual number of
days over 360 days per year. Interest on this Note shall be calculated and
payable at a variable rate equal to 2.000% per annum over the Index Rate. The
Initial interest rate on this Note shall be 8.500% per annum. Any change in
the interest rate resulting from a change in the Index Rate will be effective
on:
         the actual date of change.

INDEX RATE: The Index Rate for this Note shall be:

         The prime rate as published in The Wall Street Journal's "Money Rates"
         table. If multiple prime rates are quoted in the table, then the
         highest prime rate will be the Index Rate.

If the Index Rate is redefined or becomes unavailable, then Lender may select
another index which is substantially similar.

RATE LIMITATIONS: Subject to applicable law, the minimum interest rate on this
Note shall be 5.000% per annum. The maximum interest rate on this Note shall not
exceed 18.000% per annum, or if less, or if a maximum rate is not indicated, the
maximum interest rate Lender is permitted to charge by law. The maximum rate
increase of any one time will be n/a%. The maximum rate decrease at any one time
will be n/a%.

DEFAULT RATE: If there is an Event of Default under this Note, the Lender may,
in its discretion, increase the interest rate on this Note to: eighteen percent
(18.000%) per annum or the maximum interest rate Lender is permitted to charge
by law, whichever is less.

PAYMENT SCHEDULE: Borrower shall pay the principal and interest according to
the following schedule:

On demand, but if no demand is made, then a single payment of the unpaid
balance plus accrued interest is due and payable on December 08, 2001.

PREPAYMENT: This Note may be prepaid in part or in full on or before its
maturity date. If the Note contains more than one installment, any partial
prepayment will not affect the due date or the amount of any subsequent
installment, unless agreed to, in writing, by Borrower and Lender. To the extent
permitted by law, if this Note is prepaid in full, there will be: [X] No minimum
finance charge or prepayment penalty. [ ] A minimum finance charge of
$______________. [ ] A prepayment penalty of:

LATE CHARGE:  If a payment is received more than 10 days late, Borrower will be
charged a late charge of: [X] 5.00% of the unpaid payment; [ ] $___________ or
___________ % of the unpaid payment, whichever is [ ] greater [ ] less.

SECURITY: To secure the payment and performance of obligations incurred under
this Note, Borrower, grants Lender a security interest in all of Borrower's
right, title, and interest in all monies, instruments, savings, checking and
other accounts of Borrower (excluding IRA, Keogh, trust accounts and other
accounts subject to tax penalties if so assigned) that are now or in the future
in Lender's custody or control. [ ] If checked, the obligations under this Note
are also secured by the collateral described in any security instrument(s)
executed in connection with this Note, and any collateral described in any other
security instrument(s) securing this Note or all of Borrower's obligations.

RENEWAL: [X] If checked, this Note is a renewal, but not a satisfaction, of
Loan Number 2218900. Such renewal shall not be a novation that effectively
extinguishes debt and substitutes in its place new debt.
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THE PERSONS SIGNING BELOW ACKNOWLEDGE THAT THEY HAVE READ, UNDERSTAND, AND
AGREE TO THE TERMS AND CONDITIONS OF THIS NOTE, INCLUDING THE PROVISIONS ON THE
REVERSE SIDE, AND FURTHER ACKNOWLEDGE RECEIPT OF AN EXACT COPY OF THIS NOTE.

Dated: September 08, 2001

BORROWER: Global Election Systems, Inc.  BORROWER:
          A New Mexico Corporation

By:  /s/ ROBERT S. UROSAVICH
---------------------------------------  --------------------------------------
    Robert S. Urosavich
    President

BORROWER:                                BORROWER:



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BORROWER:                                BORROWER:



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BORROWER:                                BORROWER:



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<PAGE>   2
                              TERMS AND CONDITIONS



1. EVENTS OF DEFAULT. An Event of Default will occur under this Note in the
event that Borrower, any guarantor or any other third party pledging collateral
to secure this Note:

     (a) fails to make any payment on this Note or any other indebtedness to
         Lender when due;

     (b) fails to perform any obligation or breaches any warranty or covenant to
         Lender contained in this Note, any security instrument, or any other
         present or future written agreement regarding this or any other
         indebtedness of Borrower to Lender;

     (c) provides or causes any false or misleading signature or representation
         to be provided to Lender;

     (d) sells, conveys, or transfers rights in any collateral securing this
         Note without the written approval of Lender; destroys, loses or damages
         such collateral in any material respect; or subjects such collateral to
         seizure, confiscation or condemnation;

     (e) has a garnishment, judgment, tax levy, attachment or lien entered or
         served against Borrower, any guarantor, or any third party pledging
         collateral to secure this Note or any of their property;

     (f) dies, becomes legally incompetent, is dissolved or terminated, ceases
         to operate its business, becomes insolvent, makes an assignment for the
         benefit of creditors, fails to pay debts as they become due, or becomes
         the subject of any bankruptcy, insolvency or debtor rehabilitation
         proceeding;

     (g) fails to provide Lender evidence of satisfactory financial condition;

     (h) has a majority of its outstanding voting securities sold, transferred
         or conveyed to any person or entity other than any person or entity
         that has the majority ownership as of the date of the execution of this
         Note; or

     (i) causes Lender to deem itself insecure due to a significant decline in
         the value of any real or personal property securing payment of this
         Note, or Lender in good faith, believes the prospect of payment or
         performance is impaired.

2. RIGHTS OF LENDER ON EVENT OF DEFAULT. If there is an Event of Default under
this Note, Lender will be entitled to exercise one or more of the following
remedies without notice or demand (except as required by law):

     (a) to declare the principal amount plus accrued interest under this Note
         and all other present and future obligations of Borrower immediately
         due and payable in full, such acceleration shall be automatic and
         immediate if the Event of Default is a filing under the Bankruptcy
         Code;

     (b) to collect the outstanding obligations of Borrower with or without
         reporting to judicial process;

     (c) to cease making advances under this Note or any other agreement between
         Borrower and Lender;

     (d) to take possession of any collateral in any manner permitted by law;

     (e) to require Borrower to deliver and make available to Lender any
         collateral at a place reasonably convenient to Borrower and Lender;

     (f) to sell, lease or otherwise dispose of any collateral and collect any
         deficiency balance with or without resorting to legal process;

     (g) to set-off Borrower's obligations against any amounts due to Borrower
         including, but not limited to, monies, instruments, and deposit
         accounts maintained with Lender and;

     (h) to exercise all other rights available to Lender under any other
         written agreement or applicable law.

Lender's rights are cumulative and may be exercised together, separately, and in
any order. Lender's remedies under this paragraph are in addition to those
available at common law, including, but not limited to, the right of set-off.

3. DEMAND FEATURE. [X] If checked, this Note contains a demand feature. Lender's
right to demand payment, at any time, and from time to time, shall be in
Lender's sole and absolute discretion, whether or not any default has occurred.

4. FINANCIAL INFORMATION. Borrower will at all times keep proper books of record
and account in which full, true and correct entries shall be made in accordance
with generally accepted accounting principles and will deliver to Lender, within
ninety (90) days after the end of each fiscal year of Borrower, a copy of the
annual financial statements of Borrower relating to such fiscal year, such
statements to include (i) the balance sheet of Borrower as at the end of such
fiscal year and (ii) the related income statement, statement of retained
earnings and statement of cash flow of Borrower for such fiscal year, prepared
by such certified public accountants as may be reasonably satisfactory to
Lender, Borrower also agrees to deliver to Lender within fifteen (15) days after
filing same, a copy of Borrower's income tax returns and also, from time to
time, such other financial information with respect to Borrower as Lender may
request.

5. MODIFICATION AND WAIVER. The modification or waiver of any Borrower's
obligations or Lender's rights under this Note must be contained in a writing
signed by Lender. Lender may perform any of Borrower's obligations or delay or
fail to exercise any of its rights without causing a waiver of those obligations
or rights. A waiver on one occasion will not constitute a waiver on any other
occasion. Borrower's obligations under this Note shall not be affected it Lender
amends, compromises, exchanges, fails to exercise, impairs or releases any of
the obligations belonging to any co-borrower or guarantor of any of its rights
against any co-borrower, guarantor, the collateral or any other property
securing the obligations.

6. SEVERABILITY. If any provision of this Note is invalid, illegal or
unenforceable, the validity, legality, and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby. To the extent,
if at all, N.M. Stat. Ann Section 56-7-1 is applicable to this Note, any
agreement to indemnify given by Borrower to Lender or any other indemnity in
this Note will not extend to liability, claims, damages, losses or expenses,
including fees of lawyers, arising out of (1) the preparation or approval of
maps, drawings, opinions, reports, surveys, change orders, designs or
specifications by Lender or any other Indemnitee, or (2) the giving of, or the
failure to give, directions or instructions by Lender or any other Indemnitee,
or the agents or employees of Lender or any other Indemnitee, where such giving
or failure to give directions or instructions is the primary cause of bodily
injury to persons or damage to property.

7. ASSIGNMENT. Borrower agrees not to assign any of Borrower's rights, remedies
or obligations described in this Note without the prior written consent of
Lender, which consent may be withheld by Lender in its sole discretion. Borrower
agrees that Lender is entitled to assign some or all of its rights and remedies
described in this Note without notice to or at the prior consent of Borrower.

8. NOTICE. Any notice or other communication to be provided to Borrower or
Lender under this Note shall be in writing and sent to the parties at the
addresses described in this Note or such other address as the parties may
designate in writing from time to time.

9. APPLICABLE LAW. This Note shall be governed by the laws of the state
indicated in Lender's address. Unless applicable law provides otherwise,
Borrower consents to the jurisdiction and venue of any court located in such
state selected by Lender, in its discretion, in the event of any legal
proceeding under this Note.

10. COLLECTION COSTS. To the extent permitted by law, Borrower agrees to pay
Lender's reasonable food and costs, including, but not limited to, fees and
costs or attorneys and other agents (including without limitation paralegals,
clerks and consultants), whether or not such attorney or agent is an employee of
Lender, which are incurred by Lender in collecting any amount due or enforcing
any right or remedy under this Note, whether or not suit is brought, including,
but not limited to, all funds and costs incurred on appeal, in bankruptcy, and
for post-judgment collection actions.

11. MISCELLANEOUS. This Note is being executed primarily for commercial,
agricultural, or business purposes. Borrower and Lender agree that time is of
the essence. Borrower agrees to make all payments to Lender at any address
designated by Lender and in lawful United States currency. Borrower and any
person who endorses this Note waive presentment, demand for payment, notice of
dishonor and protest and further waive any right to require Lender to proceed
against anyone else before proceeding against Borrower or said person. All
references to Borrower in this Note shall include all of the parties signing
this Note, and this Note shall be binding upon the heirs, successors and assigns
of Borrower and Lender. If there is more than one Borrower their obligations
under this Note shall be joint and several, information concerning this Note may
be reported to credit reporting agencies and will be made available when
requested by proper legal process. This Note represents the complete and
integrated understanding between Borrower and Lender regarding the terms hereof.

12. JURY TRIAL WAIVER. LENDER AND BORROWER HEREBY WAIVE ANY RIGHT TO A TRIAL BY
JURY IN ANY CIVIL ACTION ARISING OUT OF, OR BASED UPON, THIS NOTE OR THE
COLLATERAL SECURING THIS NOTE.

13. ADDITIONAL TERMS: