Document:

<PAGE>
                                                                    EXHIBIT 10.1

                                 PROMISSORY NOTE

                                  JULY 1, 2005
                                  ------------
                                     (DATE)

FOR VALUE RECEIVED, NEOSE TECHNOLOGIES, INC. an other located at the address
stated below ("MAKER") promises, jointly and severally if more than one, to pay
to the order of GENERAL ELECTRIC CAPITAL CORPORATION or any subsequent holder
hereof (each, a "PAYEE") at its office located at 83 WOOSTER HEIGHTS ROAD,
DANBURY, CT 06810 or at such other place as Payee or the holder hereof may
designate, the principal sum of SEVEN HUNDRED EIGHTY THREE THOUSAND FORTY THREE
AND 04/100 DOLLARS ($783,043.04), with interest on the unpaid principal balance,
from the date hereof through and including the dates of payment, at a fixed
interest rate of Nine and Forty Four Hundredths percent (9.44%) per annum, to be
paid in lawful money of the United States, in Forty-Eight (48) consecutive
monthly installments of principal and interest as follows:

<TABLE>
<CAPTION>
 Periodic
Installment                     Amount
------------------------------------------
<S>                             <C>
Thirty-Six (36)                 $22,016.47
Eleven (11)                     $11,052.92
</TABLE>

each ("Periodic Installment") and a final installment which shall be in the
amount of the total outstanding principal and interest. The first Periodic
Installment shall be due and payable on ____________________ and the following
Periodic Installments and the final installment shall be due and payable on the
same day of each succeeding month (each, a "Payment Date"). Such installments
have been calculated on the basis of a 360 day year of twelve 30-day months.
Each payment may, at the option of the Payee, be calculated and applied on an
assumption that such payment would be made on its due date.

The acceptance by Payee of any payment which is less than payment in full of all
amounts due and owing at such time shall not constitute a waiver of Payee's
right to receive payment in full at such time or at any prior or subsequent
time.

The Maker hereby expressly authorizes the Payee to insert the date value is
actually given in the blank space on the face hereof and on all related
documents pertaining hereto.

This Note may be secured by a security agreement, chattel mortgage, pledge
agreement or like instrument (each of which is hereinafter called a "SECURITY
AGREEMENT").

Time is of the essence hereof. If any installment or any other sum due under
this Note or any Security Agreement is not received within ten (10) days after
its due date, the Maker agrees to pay, in addition to the amount of each such
installment or other sum, a late payment charge of five percent (5%) of the
amount of said installment or other sum, but not exceeding any lawful maximum.
If (i) Maker fails to make payment of any amount due hereunder within ten (10)
days after the same becomes due and payable; or (ii) Maker is in default under,
or fails to perform under any term or condition contained in any Security
Agreement, then the entire principal sum remaining unpaid, together with all
accrued interest thereon and any other sum payable under this Note or any
Security Agreement, at the election of Payee, shall immediately become due and
payable, with interest thereon at the lesser of eighteen percent (18%) per annum
or the highest rate not prohibited by applicable law from the date of such
accelerated maturity until paid (both before and after any judgment).

Notwithstanding anything to the contrary contained herein or in the Security
Agreement, Maker may not prepay in full or in part any indebtedness hereunder
without the express written consent of Payee in its sole discretion.

It is the intention of the parties hereto to comply with the applicable usury
laws; accordingly, it is agreed that, notwithstanding any provision to the
contrary in this Note or any Security Agreement, in no event shall this Note or
any Security Agreement require the payment or permit the collection of interest
in excess of the maximum amount permitted by applicable law. If any such excess
interest is contracted for, charged or received under this Note or any Security
Agreement, or if all of the principal balance shall be prepaid, so that under
any of such circumstances the amount of interest contracted for, charged or
received under this Note or any Security Agreement on the principal balance
shall exceed the maximum amount of interest permitted by applicable law, then in
such event (a) the provisions of this paragraph shall govern and control, (b)
neither Maker nor any other person or entity now or hereafter liable for the
payment hereof shall be obligated to pay the amount of such interest to the
extent that it is in excess of the maximum amount of interest permitted by
applicable law, (c) any such excess
<PAGE>
which may have been collected shall be either applied as a credit against the
then unpaid principal balance or refunded to Maker, at the option of the Payee,
and (d) the effective rate of interest shall be automatically reduced to the
maximum lawful contract rate allowed under applicable law as now or hereafter
construed by the courts having jurisdiction thereof. It is further agreed that
without limitation of the foregoing, all calculations of the rate of interest
contracted for, charged or received under this Note or any Security Agreement
which are made for the purpose of determining whether such rate exceeds the
maximum lawful contract rate, shall be made, to the extent permitted by
applicable law, by amortizing, prorating, allocating and spreading in equal
parts during the period of the full stated term of the indebtedness evidenced
hereby, all interest at any time contracted for, charged or received from Maker
or otherwise by Payee in connection with such indebtedness; provided, however,
that if any applicable state law is amended or the law of the United States of
America preempts any applicable state law, so that it becomes lawful for the
Payee to receive a greater interest per annum rate than is presently allowed,
the Maker agrees that, on the effective date of such amendment or preemption, as
the case may be, the lawful maximum hereunder shall be increased to the maximum
interest per annum rate allowed by the amended state law or the law of the
United States of America.

The Maker and all sureties, endorsers, guarantors or any others (each such
person, other than the Maker, an "OBLIGOR") who may at any time become liable
for the payment hereof jointly and severally consent hereby to any and all
extensions of time, renewals, waivers or modifications of, and all substitutions
or releases of, security or of any party primarily or secondarily liable on this
Note or any Security Agreement or any term and provision of either, which may be
made, granted or consented to by Payee, and agree that suit may be brought and
maintained against any one or more of them, at the election of Payee without
joinder of any other as a party thereto, and that Payee shall not be required
first to foreclose, proceed against, or exhaust any security hereof in order to
enforce payment of this Note. The Maker and each Obligor hereby waives
presentment, demand for payment, notice of nonpayment, protest, notice of
protest, notice of dishonor, and all other notices in connection herewith, as
well as filing of suit (if permitted by law) and diligence in collecting this
Note or enforcing any of the security hereof, and agrees to pay (if permitted by
law) all expenses incurred in collection, including Payee's actual attorneys'
fees. Maker and each Obligor agrees that fees not in excess of twenty percent
(20%) of the amount then due shall be deemed reasonable.

Maker hereby irrevocably authorizes and empowers the Prothonotary or Clerk, or
any attorney for any Court of record to appear for Maker in such Courts, at any
time, and confess a judgement against Maker, without process, in favor of any
holder hereof, without the filing of a declaration of default, with release of
errors, without stay of execution, for such amount as may appear from the face
hereof to be due hereunder (or, if such attorney so elects, for the amount which
may be due hereon as evidenced by an affidavit signed by a representative of
holder setting forth the amount then due) together with charges, attorney's fees
and costs as herein provided, and Maker hereby waives and releases all benefits
and relief from any and all appraisement, stay or exemption laws of any state,
now in force or hereafter to be passed. If a copy hereof, verified by an
affidavit, shall have been filed in said proceeding, it shall not be necessary
to file the original as a warrant of attorney. No single exercise of the
foregoing warrant and power to confess judgement shall be deemed to exhaust the
power, whether or not such exercise shall be held by any Court to be invalid,
voidable, or void, but the power shall continue undiminished and may be
exercised from time to time as often as the holder hereof shall elect, until all
sums payable or that may become payable hereunder by Maker have been paid in
full.

THE MAKER HEREBY UNCONDITIONALLY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM
OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF, DIRECTLY OR INDIRECTLY, THIS
NOTE, ANY OF THE RELATED DOCUMENTS, ANY DEALINGS BETWEEN MAKER AND PAYEE
RELATING TO THE SUBJECT MATTER OF THIS TRANSACTION OR ANY RELATED TRANSACTIONS,
AND/OR THE RELATIONSHIP THAT IS BEING ESTABLISHED BETWEEN MAKER AND PAYEE. THE
SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES
THAT MAY BE FILED IN ANY COURT (INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS,
TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY
CLAIMS.) THIS WAIVER IS IRREVOCABLE MEANING THAT IT MAY NOT BE MODIFIED EITHER
ORALLY OR IN WRITING, AND THE WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS,
RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS NOTE, ANY RELATED DOCUMENTS, OR
TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THIS TRANSACTION OR ANY RELATED
TRANSACTION. IN THE EVENT OF LITIGATION, THIS NOTE MAY BE FILED AS A WRITTEN
CONSENT TO A TRIAL BY THE COURT.

This Note and any Security Agreement constitute the entire agreement of the
Maker and Payee with respect to the subject matter hereof and supercedes all
prior understandings, agreements and representations, express or implied.

No variation or modification of this Note, or any waiver of any of its
provisions or conditions, shall be valid unless in writing and signed by an
authorized representative of Maker and Payee. Any such waiver, consent,
modification or change shall be effective only in the specific instance and for
the specific purpose given.
<PAGE>
Any provision in this Note or any Security Agreement which is in conflict with
any statute, law or applicable rule shall be deemed omitted, modified or altered
to conform thereto.

                                        NEOSE TECHNOLOGIES, INC.

                                        By:
---------------------------------          ---------------------------------
(Witness)
                                        Name:
---------------------------------            -------------------------------
(Print name)
                                        Title:
---------------------------------             ------------------------------
(Address)
                                        Federal Tax ID #: 13-3549286
                                                         -------------------

                                        Address: 102 Witmer Rd, Horsham,
                                                 Montgomery County, PA 19044-- Converted by SECPublisher 3.1.0.1, created by BCL Technologies Inc., for SEC Filing

Exhibit 10.1

COWLITZ BANCORPORATION 

Supplemental Executive Retirement Plan

for 

Richard Fitzpatrick 

         THIS AGREEMENT is made and entered into October 26, 2005 by and between Cowlitz Bancorporation and Cowlitz Bank (jointly and severally "Cowlitz"), and Richard Fitzpatrick (hereinafter referred to as "Participant"), effective
February 10, 2003.

R E C I T A L S

             A. Participant is serving as the President and Chief Executive Officer of Cowlitz. The parties desire that Participant will continue to render valuable service to Cowlitz in the future. This plan is intended to provide a
financial inducement to Participant for continued service, as well as a form of compensation for doing so. 

             B. Cowlitz and Participant entered into a Consulting and Executive Employment Agreement dated February 10, 2003 (the "Employment Agreement"). 

             C. Pursuant to the Employment Agreement, Cowlitz is obligated to provide Participant with a supplemental executive retirement benefit on the terms and conditions set forth in the Employment Agreement.  Cowlitz has been accruing
for the deferred compensation expense in anticipation of the parties entering into this Agreement since February 10, 2003. 

           
ACCORDINGLY, the parties agree as follows:

ARTICLE 1 

ADMINISTRATION

             Section 1.1 Purpose of the Plan. The purpose of the Plan is to provide retirement benefits for Participant.

            Section 1.2 Administration of the Plan. The Compensation Committee shall appoint from time-to-time a person or persons to administer and interpret the terms of the Plan
and adopt rules and regulations to implement the Plan ("Administrator").

            Section 1.3 Top Hat Plan and Excess Benefits.  The Plan is an unfunded plan maintained primarily to provide deferred compensation benefits for a select group of
management or highly compensated participants (within the meaning of sections 201(2), 301(a)(3), and 401(a)(1) of ERISA), and is intended to be exempt from Parts 2, 3, and 4 of ERISA. The Plan also separately accounts for benefits that are provided
in excess of the limitations on contributions and benefits imposed by section 415 of the Internal Revenue Code of 1986, as described in section 3(36) of

Supplement Executive Retirement Plan                                                                                                        Cowlitz Bancorporation

1

ERISA, and such separate part of the Plan is intended to be an "excess benefit plan" exempt from ERISA pursuant to section 4(b)(5). 

ARTICLE 2

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

             Section 2.1   Definitions.  For purposes of the Plan and this Article 2, the following definitions shall apply: 

                                     "Account" means the separate bookkeeping account established for Participant on the books of Cowlitz for the purpose of recording the amounts of supplemental retirement
benefits accrued for Participant pursuant to the provisions of this Plan as if the Plan were accounted for in accordance with Statement of Financial Accounting Standards No. 87. 

                                     "Annual Retirement Benefit" means an amount
determined actuarially by Cowlitz's consulting actuaries that if paid annually from the Normal Commencement Date until the later of Participant or Spouse's death would equal the Base Amount. For purpose of this calculation, life expectancies shall
be determined as of the Termination Date based upon the 1994 GAR Male/Female blended Table, prescribed under Internal Revenue Service Rev. Rul. 2001-62 or the most recently published successor thereto. 

                                     "Base Amount" means an amount calculated by taking the Final Average Compensation and multiplying that amount
by the product of (a) 1.5%, (b) the number of whole plus fractional years of Participant's employment with Cowlitz after February 10, 2003 and (c) the number of whole plus fractional years of Participant's Predicted Life Expectancy after Retirement
Age. 

                                     "Compensation" means Participant's base salary and cash bonus paid or payable by Cowlitz or any of its subsidiaries to Participant. 

                                     "Compensation Committee" means the Compensation Committee of the Board of Directors of Cowlitz or its
equivalent appointed by the board.

                                     "Disability" means that a Participant (A) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment
which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months or (ii) is, by reason of any medically determinable physical or mental impairment which can be expected to result in
death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Company.
This definition of "Disability" shall be interpreted consistently with the rules under Code Section 409A and any regulations or other guidance thereunder. 

                                     "ERISA" means the Employee Retirement Income Security Act of 1974, as amended from time to time. 

 

Supplement Executive Retirement Plan                                                                                                        Cowlitz Bancorporation

2

                                     "Final Average Compensation" means the average of the Participant's highest three (3) year's annual total
Compensation, or if the Participant's employment has not continued for at least three (3) years, the average of his Compensation over the period of his employment with Cowlitz.

                                     "Normal Commencement Date" means the later of (i) the first day of the month which follows the month
containing the six-month anniversary of the Termination Date or (ii) the first day of the month following Retirement Age. 

                                     "Plan" means the Supplemental Executive Retirement Plan set forth in this Agreement, as it may be amended from time to time. 

                                     "Predicted Life Expectancy" means Participant's predicted life expectancy determined by Cowlitz's consulting actuaries as of the Termination Date, based upon the then
most recently published life expectancy table by the Internal Revenue Service or other generally accepted reference source. 

                                "Retirement Age" means the Participant's sixty-fifth birthday, April 17, 2014.

                               
"Spouse" means Participant's spouse as of the Termination Date.

                                     "Termination Date" means the date on which Participant ceases to be an employee of Cowlitz for any reason, including death, retirement, Disability and voluntary or
involuntary termination. 

            Section 2.2   Normal Retirement Benefits.  In the event Participant's employment is terminated on or after Retirement Age, Participant shall be entitled to receive monthly
payments of the Annual Retirement Benefit commencing on the Normal Commencement Date and continuing until the later of Participant or Spouse's death. 

            Section 2.3   Death Benefit. If Participant dies while employed by Cowlitz, Spouse shall be entitled to receive monthly payments commencing on the Normal Commencement Date
and continuing until Spouse's death.  The amount of the monthly payments will be determined by annuitizing the amount of the Account as of the date of Participant's date of death for Spouse's predicted life expectancy using the then life expectancy
table published by the Internal Revenue Service or other appropriate assumptions determined by Cowlitz's consulting actuaries. 

             Section 2.4   Early Termination Benefits.  If Participant's employment is terminated prior to Retirement Age for any reason, Participant shall be entitled to receive the Annual Retirement Benefit
commencing on the Normal Commencement Date and continuing until the later of Participant or Spouse's death.

            Section 2.5   Withholding. Any payment or other distribution of benefits under this Plan may be reduced by any amount required to be withheld by Cowlitz under any
applicable law, rule, regulation, order or other requirement, now or hereafter in effect, of any governmental authority. 

Supplement Executive Retirement Plan                                                                                                        Cowlitz Bancorporation

3

             Section 2.6   Payments to Spouse. Following Participant's death, all payments under this Plan shall be made to Spouse.

             Section 2.7   Effect on Retirement Plans. Any amounts payable under this Plan shall be disregarded for the purpose of determining any accrued benefits of Participant under any Retirement Plan,
except as required by law. 

             Section 2.8   Account. The Account established under this Plan is an unfunded plan of deferred compensation.  The amount accrued and interest thereon are represented solely by bookkeeping entries on
records maintained by the Administrator.  No funds are held in trust or otherwise segregated for the sole purpose of paying Plan benefits. All Plan benefits are payable solely from the general assets of Cowlitz. Cowlitz may from time to time reserve
assets in a general account or grantor trust owned by Cowlitz for the purpose of paying liabilities that are accrued under this Plan. Participant and Spouse shall have no legal or equitable rights, interest or claims in any specific collateral,
property or assets of Cowlitz, but shall be general unsecured creditors of Cowlitz until benefits are paid hereunder. 

            Section 2.9   Claims Procedure.

                                 2.9.1 Interpretation. Any person desiring a benefit under, interpretation or construction of, ruling under or information regarding this Plan shall submit a written
request therefor to the Administrator. The Administrator shall respond in writing to any such request as soon as practicable, but in any event no later than 45 days after receiving such written request. Any interpretation or construction of, and any
ruling under, this Plan by the Administrator shall be final and binding on all parties except as provided herein. 

                                2.9.2 Denial of Claim. If a claim for benefits is denied in whole or in part, the Administrator shall in its response notify the claimant of such denial and of his or
her right to a conference with an individual designated in the notice for the purpose of explaining the denial. The claimant shall have the right to be represented by counsel of the claimaint's choice in such meeting. If the claimant does not want
such a conference, or is dissatisfied with its outcome, he or she shall be furnished in writing, in a manner calculated to be understood by the claimant, specific reasons for such denial, specific references to the Plan provisions on which the
denial is based, a description of any additional material necessary for him or her to perfect his or her claim, an explanation of why such material is necessary, and an explanation of this Plan's appeals procedure as described in Section 2.9.3.

                                2.9.3 Appeal Procedure.  Any person, or his or her duly authorized representative, whose claim for benefits under this Plan has been denied in whole or in part, may
appeal from such denial to the Administrator by submitting to the Administrator a written request for review within seventy-five (75) days after receiving written notice of denial. The Administrator shall give the claimant an opportunity to review
pertinent documents relating to the denial in preparing his or her request for review. The request must set forth all the grounds upon which it is based, supporting facts and documents, and any other matters which the claimant deems pertinent, and
the relief sought. The Administrator may require the claimant to submit such additional facts,

Supplement Executive Retirement Plan                                                                                                        Cowlitz Bancorporation

4

documents or other material as it deems necessary or advisable in making its review.  The Administrator shall act upon a request for review within 60 days after receipt thereof unless special circumstances require further time,
but in no event later than 120 days after such receipt. If the Administrator confirms the denial in whole or in part, the Administrator shall give written notice to the claimant setting forth, in a manner calculated to be understood by the claimant,
the specific reasons for denial and specific reference to the Plan provisions on which the decision was based. If claimant is entitled to a payment, such payment will include accrued interest at the higher of the Banks prime rate or any applicable
legal rate of interest under Washington State law. The determination of the Administrator upon such review shall be final and conclusive, but subject to any right of appeal under applicable law. 

ARTICLE 3 

MISCELLANEOUS.

                                 Section 3.1   Amendment or Termination. This Plan may be amended or terminated only by the written agreement authorized by the Compensation Committee and signed by the
Administrator and Participant. Notwithstanding the foregoing, the schedule for the timing of payments may not be accelerated unless such acceleration is permitted under Code Section 409A and any Internal Revenue Service interpretations thereunder
and any change which delays the timing of payments or changes the form of payments is only effective if the following requirements are met: 

                                     3.1.1 Any agreement to change the time and form of distribution may not take effect until at least 12 months after the date on which the agreement is made; 

                                     3.1.2 The first payment with respect to such agreement must be deferred for a period of at least 5 years from the date such payment otherwise would have been made; and 

                                     3.1.3 An agreement related to a distribution to be made at a specified time may not be made less than 12 months prior to the date of the first scheduled payment. 

                                 Section 3.2   Plan Administrator. With respect to ERISA, the Administrator shall be the plan administrator and named fiduciary as to this Plan and the corporate secretary of Cowlitz shall be the
agent for purposes of receiving legal process. 

                                Section 3.3   No Right to Employment. This Plan shall not confer upon Participant the right to be retained in the employ of Cowlitz, interfere with the right of Cowlitz to
discharge or otherwise deal with Participant without regard to the existence of this Plan or otherwise be interpreted or construed as creating or modifying any employment or other contract between Cowlitz and Participant. 

                                Section 3.4   Conclusiveness of Authorized Action. All determinations made under this Agreement by Cowlitz's independent consulting actuaries shall be binding upon Cowlitz
and Participant in the absence of manifest error. Any other actions taken with respect to this Plan by the Administrator shall be conclusive upon Participant, his beneficiaries and any other persons entitled

Supplement Executive Retirement Plan                                                                                                        Cowlitz Bancorporation

5

to benefits under this Plan, subject to the claims procedure set forth in Section 2.9 and the arbitration provisions set forth in Section 3.10. 

                                 Section 3.5   Alienation. No right, interest or benefit under this Plan shall be subject to any anticipation, alienation, sale, transfer, assignment, pledge, security interest, encumbrance, charge,
execution, attachment, garnishment or legal process, and any attempt to do so shall be void. 

                                 Section 3.6   Information.  Participant and Spouse shall provide such authorizations, elections, designations and other information, as Cowlitz shall deem necessary for the proper administration of
this Plan. All such authorizations, elections, designations and other information shall be in form approved by Cowlitz. Cowlitz shall not be obligated to determine the accuracy or authenticity of any information provided by Participant or Spouse
under this Plan and any payment or other distribution of benefits based thereon shall be binding on such person, or on anyone claiming by, through or under such person, and shall completely discharge any liability under this Plan to the extent of
any payment made. 

                                 Section 3.7   Headings. Headings of sections and paragraphs of this Plan are inserted for convenience of reference only and shall not constitute a part of this Plan. 

                                Section 3.8   Governing State. This Plan shall be interpreted, construed and enforced in accordance with the laws of the State of Washington, except insofar as state law
has been preempted by ERISA. 

                                Section 3.9   Entire Agreement. This document constitutes the entire agreement between the parties with respect to the Plan. Participant agrees that this Plan satisfies
Cowlitz's obligations under Section 3(d)(iv) of the Employment Agreement. 

Supplement Executive Retirement Plan                                                                                                        Cowlitz Bancorporation

6

                                Section 3.10   Arbitration.  Any dispute hereunder shall be resolved under binding arbitration pursuant to the
provision in Section 18 of the Employment Agreement. Attorney fees will be awarded as provided by Section 17 of the Employment Agreement. 

                                 IN WITNESS WHEREOF, the parties hereto have signed this Agreement on the date first written above. 

	
Cowlitz Bancorporation

By:        /s/ Mark F. Andrews, Jr.                                           

      Mark F. Andrews, Jr., Chair of Compensation Committee

	
Cowlitz Bank

By:        /s/ Mark F. Andrews, Jr.                                         

      Mark F. Andrews, Jr., Chair of Compensation
Committee

/s/ Richard J. Fitzpatrick                                                  

Richard J. Fitzpatrick, Participant

Supplement Executive Retirement Plan                                                                                                        Cowlitz Bancorporation

7

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