Document:

Prepared by R.R. Donnelley Financial -- Promissory Note Dated September 30, 2002

  
 Exhibit 10.2 
  
 PROMISSORY NOTE 
  
 Lorton, Virginia 
 September 30, 2002 
  
 FOR VALUE RECEIVED, the undersigned Maker promises to pay to the order of KFx Inc., 3300 East 1st Avenue, Suite 290, Denver, Colorado 80206 (“Payee”), the principal sum of One Million Five Hundred Thousand & no/100 Dollars
($1,500,000.00) together with interest at the rate of Four & Seventy Five Hundredths percent per annum (4.75%) which shall accrue from the date hereof until the principal amount of this Note is paid in full. Interest shall be computed on the
basis of a 365-day year, and shall not be compounded prior to maturity. Both principal and interest on this Note shall be made to Payee at the address shown herein, or at such other place as Payee shall designate from time to time in writing.
Principal and interest shall be payable on October 31, 2002, when the entire remaining balance shall become due and payable. This note represents the consideration Maker owes to Payee pursuant to the attached Common Stock and Warrant Purchase
Agreement, dated as of September 30, 2002 (the “Purchase Agreement”). Maker hereby agrees that Payee shall retain possession of such shares of common stock and warrants purchased by Maker pursuant to the Purchase Agreement until such time
as this Note is paid in full to the Payee. 
  
 This Note may be prepaid in part or in full at any time without
penalty. In the event of partial prepayment, said payment will be applied first to accrued interest and the balance, if any, will be applied to principal. 
  
 It is understood and agreed that, upon default on the payment of principal or interest when due, or any part thereof, when due, the Payee hereof may elect to accelerate all unpaid balance of the
principal and all accrued interest due and declare the same payable immediately and without notice or demand on any party to this instrument. Such default shall accrue in the event that principal and interest hereon has not been paid within five (5)
days from the due date. Maker waives presentment for payment, demand and notice of non-payment of this Note and consents that Payee may extend the time of payment of any part or the whole of the debt at any time at the request of any other person
liable without affecting the obligation of Maker for payment for the debt evidenced hereby. 
  
 In the event of
default hereunder, Maker will pay on demand and, in addition to the then outstanding principal and accrued interest thereon, any and all costs of collection, legal expenses, and attorneys fees incurred or paid by Payee in collecting or enforcing
this Note on default. 
  
 No delay or omission on the part of Payee in exercising any right hereunder shall operate
as a waiver of such right or of any other right under this Note. A waiver on any one occasion by Payee shall not be construed as a bar to or waiver of any right or remedy on any future occasion. 
  

The undersigned represents and warrants that he has the requisite authority and has been duly authorized to execute this Promissory Note on behalf of the corporation.
This Note shall be construed and enforced according to the laws of the State of New York without regard to conflicts of laws principles. 
  
 
	 ROCKY ROBINSON (“Maker”)
 
	 
	 /s/    ROCKY
ROBINSONPrepared by R.R. Donnelley Financial -- Specimen Stock Certificate

 Exhibit 4.1 
  

	COMMON STOCK 
 	COMMON STOCK 
 

 
 [Logo]

  
 PELION SYSTEMS, INC. 
  
 
	 INCORPORATED UNDER THE LAWS
 	 	 SEE REVERSE FOR
 
	 OF THE STATE OF COLORADO
 	 	 CERTAIN DEFINITIONS
 

 
  
 CUSIP
                             
  
 This Certifies that 
  
  
  
  
  
  
  
  
 is the owner of 
  
 FULLY PAID AND NONASSESSABLE SHARES OF THE COMMON SHARES, 
 NO PAR VALUE PER SHARE, OF 
  
 
	 
	 	  	 	 

	 
	 	 PELION SYSTEMS, INC.
 	 	 

	 
	 	  	 	 

 
  
 transferable on the books of the Company by the holder hereof in person or by duly
authorized attorney upon surrender of this certificate properly endorsed. This certificate and the shares represented hereby are issued and shall be subject to all of the provisions of the Articles of Incorporation of the Company and all amendments
thereto, and to the Bylaws of the Company, to all of which the holder hereof by acceptance of this certificate hereby assents. This certificate is not valid until countersigned and registered by the Transfer Agent and Registrar. 

 

	Dated: 
 	AUTHORIZED SIGNATURE 
 

 
 
	  	 	  	 	  
	 
	  	 	 /s/    ROBERT M. GELLER         
 
	 	  	 	  	 	 /s/    THOMAS PLUNKETT        
 

	  	 	 Secretary
 	 	  	 	  	 	 President
 

 
  
 COUNTERSIGNED AND REGISTERED: 
 CORPORATE STOCK TRANSFER 
 (DENVER,
COLORADO) 
 TRANSFER AGENT AND REGISTRANT 
  
 BY 
  
 AUTHORIZED SIGNATURE 

 PELION SYSTEMS, INC. 
  
 The Company will furnish to any stockholder upon written request and without charge a full statement of: (a) the designations, preferences, limitations, and relative rights of the shares of each class
or series of capital stock authorized to be issued; (b) the variations in the relative rights, preferences and limitations between the shares of each such series, and (c) the authority of the Board of Directors to fix and determine variations for
future series. 
  
 The following abbreviations, when used in the inscription on the face of this certificate, shall
be construed as though they were written out in full according to applicable laws or regulations. 
  
 
	 TEN COM—
 	  	 as tenants in common
 	  	 UNIF GIFT MIN ACT—___________  Custodian ___________
 
	 TEN ENT— 
 	  	 as tenants by the
 	  	  	  	             (Cust) 
 	  	          (Minor)
 	  	  
	  	  	 entireties
 	  	  	  	             under Uniform Gifts to Minors 
 
	 JT TEN—
 	  	 as joint tenants with
 	  	  	  	             Act______________________________
 
	  	  	 right of survivorship
 and not as tenants in
 common
 	  	  	  	 (State) 
 

 
  
 For value received,_______________ hereby sell, assign and transfer unto 

 
 PLEASE INSERT SOCIAL SECURITY OR OTHER 
 IDENTIFYING NUMBER OF ASSIGNEE 
  
 _____________________________________________________

  
 _____________________________________________________ 
  
 ___________________________________________________________________________________________ 
 (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE) 
  
 ___________________________________________________________________________________________ 
  
 ___________________________________________________________________________________________ 
  
 ______________________________________________________________________________________shares 
  
 of the Shares represented
by the within Certificate and do hereby irrevocably constitute and appoint 
  
 ____________________________________________________________________________________Attorney 
  
 to transfer the said shares
on the books of the within named Company with full power of substitution in the premises. 

 Dated ____________________________________
             
  
 _________________________________________________________________________________             

	 	NOTICE:
	 
	THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR WITHOUT ALTERATION OR ENLARGEMENT
OR ANY CHANGE WHATEVER 
 

  
 By ________________________________________
             
 THE SIGNATURE(S) MUST BE GUARANTEED 
 BY AN ELIGIBLE GUARANTOR INSTITUTION 
 (BANKS, STOCKBROKERS, SAVINGS AND 
 LOAN ASSOCIATIONS AND CREDIT UNIONS 
 WITH MEMBERSHIP IN AN APPROVED 
 SIGNATURE
GUARANTEE MEDALLION 
 PROGRAM), PURSUANT TO SEC RULE: 17Ad-16 
  
 KEEP THIS CERTIFICATE IN A SAFE PLACE. IF IT IS LOST, STOLEN, MUTILATED OR DESTROYED, THE COMPANY WILL REQUIRE A BOND OF INDEMNITY AS A CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE.Prepared by R.R. Donnelley Financial -- Specimen Unit Certificate

 Exhibit 4.4 
  

	Number U - 
 	Units 
 

 

	SEE REVERSE FOR 
 	PELION SYSTEMS, INC. 
 

CERTAIN DEFINITIONS 
  
 CUSIP_________ 
  
 UNITS CONSISTING OF ONE SHARE OF COMMON STOCK 
 AND ONE REDEEMABLE 
 WARRANT TO PURCHASE ONE SHARE OF COMMON STOCK 
  
 This Certifies that 
  

 
  
  
  
  
  

 
  
  

	is the owner of 
 	Units 
 

 
 Each Unit (“Unit”)
consists of one (1) share of common stock, no par value (“Common Stock”), of Pelion Systems, Inc., a Colorado corporation (the “Company”), and one (1) Redeemable Common Stock Purchase Warrant (“Warrant”) to purchase one
(1) share of Common Stock for $8.00 per share (subject to adjustment) until 5:00 p.m., Denver Time, on ________________________ (the “Expiration Date”). The Common Stock and Warrants comprising the Units represented by this certificate are
not transferable separately prior to ______________________, subject to earlier separability in the discretion of Kashner Davidson Securities Corporation (“Representative”). The terms of the Warrants are governed by a Warrant Agreement
dated as of (the “Warrant Agreement”) among the Company, the Representative and Corporate Stock Transfer, as Warrant Agent (the “Warrant Agent”), and are subject to the terms and provisions contained therein, all of which terms
and provisions the holder of this certificate consents to by acceptance hereof. Copies of the Warrant Agreement are on file at the office of the Warrant Agent at 3200 Cherry Creek South Drive, Suite 430, Denver, CO 80209 and are available to any
Warrant holder on written request and without cost. The Warrant shall be void unless exercised before 5:00 p.m., Denver Time, on the Expiration Date. This certificate is not valid unless countersigned and registered by the Transfer Agent and
Registrant of the Company. 
  

	DATED 
 	PELION SYSTEMS, INC. 
 

 
 Authorized Signature 
  
 
	  	 	  	 	  
	 
	  	 	 /s/    ROBERT M. GELLER         
 
	 	  	 	  	 	 /s/    THOMAS PLUNKETT         
 

	  	 	 Secretary
 	 	  	 	  	 	 President
 

 
  
 COUNTERSIGNED AND REGISTERED: 
 CORPORATE STOCK TRANSFER 
 TRANSFER AGENT AND REGISTRAR 
  
 BY 
  
         AUTHORIZED SIGNATURE 
  

  
 PELION SYSTEMS, INC. 
  
 The Company will furnish to any stockholder upon written request and without charge a full statement of: (a) the designations, preferences, limitations, and relative rights
of the shares of each class or series of capital stock authorized to be issued; (b) the variations in the relative rights, preferences and limitations between the shares of each such series, and (c) the authority of the Board of Directors to fix and
determine variations for future series. 
  
 The following abbreviations, when used in the inscription on the face of
this certificate, shall be construed as though they were written out in full according to applicable laws or regulations. 
  
 
	 TEN COM—
 	  	 as tenants in common
 	  	 UNIF GIFT MIN ACT—___________  Custodian
 
	 TEN ENT—
 	  	 as tenants by the
 	  	  	  	                         (Cust)
 	  	  	  	  
	  	  	 entireties
 	  	  	  	             under Uniform Gifts to Minors
 
	 JT TEN—
 	  	 as joint tenants with
 	  	  	  	             Act______________________________
 
	  	  	 right of survivorship
 and not as tenants in
 common
 	  	  	  	 (State)
 
	 COM PROP—
 	  	 as community property
 	  	  

 
  
 Additional abbreviations may also be used though not in the above list

  
 For value received, ____________________ hereby sell, assign and transfer unto 
  

PLEASE INSERT SOCIAL SECURITY OR OTHER 
     IDENTIFYING NUMBER OF ASSIGNEE 
     /                                 
                                        / 

 
 ___________________________________________________________________________________________ 
 (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE) 
  
 ___________________________________________________________________________________________ 
  
 ___________________________________________________________________________________________ 
  
 ______________________________________________________________________________________ Units 
  
 represented by the within
Certificate, and do hereby irrevocably constitute and appoint              
  
 ___________________________________________________________________________________ Attorney 

 to transfer the said units on the books of the within named Company with full power of substitution in the premises. 
  
 Dated _________________________              
  

NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THIS CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE
WHATEVER 
  
 Signature(s) Guaranteed 
  
 By ___________________________________________              
  
 THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKHOLDERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO SEC
RULE 17 Ad-16 
  
 KEEP THIS CERTIFICATE IN A SAFE PLACE. IF IT IS LOST, STOLEN, MUTILATED OR DESTROYED, THE COMPANY WILL REQUIRE A BOND OF
INDEMNITY AS A CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE. 
  
 _____________________________________________________________________________________________

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