Document:

Exhibit 10.3

ESESIS, INC.
MARK HOGAN, INDIVIDUALLY

7346 E PEAKVIEW
CENTENNIAL CO 80111

BORROWER'S NAME AND ADDRESS
"I" includes each borrower above, joint and severally

First American State Bank
8390 E Crescent Pkwy, Ste 100
Greenwood Village, CO 80111

LENDER'S NAME AND ADDRESS
"You" means the lender, its successors and assigns

Loan Number   16540
Date          11/03/03
Maturity Date 05/03/04
Loan Amount   $25,000.00
Renewal Of    ______________

For value received, I promise to pay to you, or your order, at your
address listed above the PRINCIPAL sum of Twenty five thousand and no/100
Dollars $25,000.00
[ ]  Single Advance: I will receive all of this principal sum on
     _______________.  No additional advances are contemplated under this
     note.
[X]  Multiple Advance: The principal sum shown above is the maximum
     amount of principal I can borrow under this note.  On 11/03/03 I
     will receive the amount of $__________ and future principal advances
     are contemplated.
     Conditions: The conditions for future advances are ________________
     _________________________________________________________________.

     [X]  Open End Credit: You and I agree that I may borrow up to the
          maximum amount of principal more than one time.  This feature
          is subject to all other conditions and expires on MAY 03, 2004.
     [ ]  Closed End Credit: You and I agree that I may borrow up to the
          maximum only one time (and subject to all other conditions).
INTEREST: I agree to pay interest on the outstanding principal balance
from NOVEMBER 03, 2003 at the rate of 6.5000% per year until May 03,
2004.
[ ]  Variable Rate: This rate may then change as stated below.
     [ ]  Index Rate: The future rate will be _____________ the following
          index rate: ___________________________________________________
          ______________________________________________________________.
     [ ]  No Index: The future rate will not be subject to any internal
          or external index.  It will be entirely in your control.
     [ ]  Frequency and Timing: The rate on this note may change as often
          as ___________________________________________________________.
            A change in the interest rate will take effect______________.
     [ ]  Limitations: During the term of this loan, the applicable
          annual interest rate will not be more than ______% or less than
          _____%.  The rate may not change more than _____% each
          ___________.
     Effect of Variable Rate: A change in the interest rate will have the
     following effect on the payments:
     [ ]  The amount of each scheduled payment will change.
     [ ]  The amount of the final payment will change.
     [ ]  __________________________________________________________.
ACCRUAL METHOD: Interest will be calculated on a Actual/360 basis.
POST MATURITY RATE: I agree to pay interest on the unpaid balance of this
note owing after maturity, and until paid in full, as stated below.
     [ ]  on the same fixed or variable rate basis in effect before
          maturity (as indicated above).
     [X]  at a rate equal to 3.000% above the stated interest rate,
          effective 15 days after maturity.
[X]  LATE CHARGE: if a payment is made more than 10 days after it is due,
     I agree to pay a late charge of 5% of the Past Due Payment Amount.
[ ]  ADDITIONAL CHARGES: In addition to interest, I agree to pay the
     following charges which [ ] are [ ] are not included in the
     principal amount above: _________________________________________.
PAYMENTS: I agree to pay this note as follows:
[X]  Interest: I agree to pay accrued interest ON DEMAND, BUT IF NO
     DEMAND IS MADE THEN: Monthly Beginning - DECEMBER 03, 2003.
[x]  Principal: I agree to pay the principal ON DEMAND, BUT IF NO DEMAND
     IS MADE THEN: At Maturity - MAY 03, 2004.
[ ]  Installments: I agree to pay this note in _____ payments.  The first
     payment will be in the amount of $__________ and will be due
     ________________________________.  A payment of $__________ will be
     due ___________________ thereafter.  The final payment of the entire
     unpaid balance of principal and interest will be due
     _____________________________________________.
ADDITIONAL TERMS:   DEFAULT RATE: NOTWITHSTANDING ANY PROVISIONS IN THE
                    LOAN DOCUMENTS, UPON DEFAULT OF THE BORROWER UNDER
                    THE TERMS OF THE NOTE, SECURITY OR LOAN DOCUMENTS,
                    INTEREST WILL ACCRUE ON THE OUTSTANDING PRINCIPAL
                    PLUS ADVANCES MADE BY LENDER AT A DEFAULT RATE OF
                    36.00% PER ANNUM.
                    BORROWER HEREBY, UPON REQUEST, AGREES TO PROVIDE
                    ANNUAL FINANCIAL STATEMENTS AND TAX RETURNS.
                    FAILURE TO SUPPLY REQUESTED ITEMS COULD BE CONSIDERED
                    A DEFAULT UNDER THE TERMS OF THIS NOTE.

[x] SECURITY: This note is separately secured by (describe separate
document by type and date):
SECURITY AGREEMENT DATED NOVEMBER 30, 2003

(This section is for your internal use.  Failure to list a separate
security document does not mean the agreement will not secure this note.)

PURPOSE: The purpose of this loan is BUSINESS: ESTABLISH BUSINESS LINE OF
CREDIT.

SIGNATURE FOR LENDER

First American State Bank

/s/ R L MCGILVERY
---------------------------

R L MCGILVERY
EXEC VICE PRESIDENT
---------------------------

SIGNATURES: I AGREE TO THE TERMS OF THIS NOTE (INCLUDING THOSE ON PAGE
2). I HAVE RECEIVED A COPY ON TODAY'S DATE.

ESESIS, INC.

/s/ MARK HOGAN
---------------------------
MARK HOGAN, CEO/PRES

/s/ GARY GRIFFIN
---------------------------
GARY GRIFFIN, SECRETARY

/s/ MARK HOGAN
---------------------------
MARK HOGAN, INDIVIDUALLYEXHIBIT 10.4

                     MODIFICATION OF PROMISSORY NOTE

LOAN #16540

FOR VALUABLE CONSIDERATION, the receipt, adequacy and sufficiency of
which is hereby acknowledged, ESESIS, INC. and MARK HOGAN, INDIVIDUALLY
(collectively, "Maker") and First America State Bank, a Colorado state
bank ("Holder") agree that a certain Promissory Note dated NOVEMBER 03,
2003 in the original loan amount of "TWENTY FIVE THOUSAND AND NO 100THS"
Dollars ($25,000) ("Note") executed by Maker, shall be modified as
follows:

     1.   The unpaid principal balance of the Note, as of MAY 03, 2004,
is $24,610.23 and interest thereon, in accordance with the Note, has been
paid to First American State Bank.

The original Note shall be amended as follows:

     2.   Maturity Date.  The maturity date of the Note shall be NOVEMBER
03, 2004 with monthly payments of INTEREST ONLY beginning JUNE 03, 2004
and interest will accrue at 6.50% until maturity.  Post maturity rate
shall be at a rate equal to 3.00% above the stated interest rate,
effective 15 days after maturity.

     3.   Any capitalized term used herein shall have the meaning set
forth in the note unless otherwise defined herein.

     4.   In the event of a conflict between the Note and this
Modification of Promissory Note ("Modification"), the terms of the
Modification shall control.

     5.   Borrower hereby, upon request, agrees to provide annual
Financial Statements and Tax Returns.  Failure to supply requested items
could be considered a default under the terms of this note.

     6.   All other terms and conditions of the Note shall remain in full
force and effect and are hereby ratified and affirmed.  The execution of
this Modification by Holder does not and shall not constitute a waiver of
any rights or remedies to which Holder is entitled pursuant to the Loan
Documents, nor shall the same constitute a waiver of any default
existing, as of the date of execution hereof or which may occur in the
future with respect to the Loan Documents.  Maker expressly acknowledges
that there are no claims or off sets against, or defenses or
counterclaims to, any of Maker's obligations pursuant to the Loan
Documents through the date of execution hereof and Maker hereby waives,
releases and relinquishes any and all claims whatsoever that they may
have against Holder with respect to the Loan through the date of
execution hereof.

DATED: MAY 03, 2004

                              MAKER:    ESESIS, INC.

                                        BY: /s/ MARK HOGAN
                                           -----------------------------
                                           MARK HOGAN, CEO/PRES

                                        BY: /s/ GARY GRIFFIN
                                           -----------------------------
                                           GARY GRIFFIN, SECRETARY

                                        X  /s/ MARK HOGAN
                                           -----------------------------
                                           MARK HOGAN, INDIVIDUALLY

HOLDER: First American State Bank

By: /s/ R.L. MCGilvery
    ------------------------
    R.L. McGilvery, EXECUTIVE VICE PRESIDENTexhibit 4.4

EXHIBIT 4.4

STOCK OPTION AGREEMENT

       THIS STOCK OPTION AGREEMENT is made to
be effective as of May 8, 2003, between SulphCo, Inc., a Nevada corporation (the
"Company"), and Patrick E. Lacy (the "Optionee").

       THE PARTIES AGREE AS FOLLOWS:

1.     Option Grant.    The Company hereby
grants to the Optionee an option (the "Option") to purchase the number of
shares of the Company's common stock (the "Shares"), for an exercise
price per share (the "Option Price") and based upon a Grant Date, all as
set forth below:

  	
 	

 

	

Shares under option: 100,000

	
 	

 

	

Option Price per Share: $0.35

	
 	

 

	

Grant Date: May 8, 2003

	
 	

 

	

Expiry Date: May 8, 2006

       The Option granted hereunder is a nonstatutory or nonqualified option for tax
purposes.

2.     Stockholder Rights.    No rights or
privileges of a stockholder in the Company are conferred by reason of the
granting of the Option.  Optionee will not become a stockholder in the Company
with respect to the Shares unless and until the Option has been properly
exercised and the Option Price fully paid as to the portion of the Option
exercised.

3.     Termination.  This Option will expire,
unless previously exercised in full, on the Expiry Date, May 8, 2006.

4.     S-8 Registration Statement/Exercise.    Upon
the Optionee's request, the Company will agree to register the Shares on a Form
S-8 registration statement and shall keep the registration statement in effect.
The Company agrees to reasonably cooperate in connection with Optionee's
cashless exercise of the Option.

5.     Miscellaneous.    This Agreement sets
forth the complete agreement of the parties concerning the subject matter
hereof, superseding all prior agreements, negotiations and understandings.  This
Agreement will be governed by the substantive law of the State of Nevada, and
may be executed in counterparts.

The parties hereby have entered into this Agreement as of the date set forth
above.

  	
 	
 	
 	
 
	
 	

 

	

"Company"

	
 
	
 	
 	
 	
 
	
 	

 

	

By:_________________________

	
 
	
 	

 

	

Title:________________________

	
 
	
 	
 
	
 	
 
	
 	

 

	

"Optionee"

	
 
	
 	
 	
 	
 
	
 	
 	
 	
 
	
 	

 

	

Patrick E. Lacy

	
 

  6

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