EXHIBIT 10.16
PROMISSORY NOTE
FOR VALUE RECEIVED, the undersigned, MICOR TECHNOLOGIES, INC. An Arizona
corporation, promises to pay to the order of WILLIAM B. MEGER the sum of forty
thousand dollars, ($40,000.00) payable monthly, with interest only at the rate
of six percent (65) per annum for a period of five (5) years, sixty (60) months
from the date hereof and the principle balance shall be all due and payable in
the sixty-first month from the date hereof.
THE PROMISSORY NOTE shall be non-recourse and unsecured and subordinated to all
other indebtedness of Micor Technologies, Inc.
This note shall take effect as a sealed instrument and is enforceable in
accordance with the laws of the state of Arizona. Dated this 28th day of
November 1995.
MICOR TECHNOLOGIES, INC.
/s/ Jerry Washburn
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By
President
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