X0201 4 2004-03-11 0 0000907658 OPTICAL SENSORS INC OPTL.OB 0001271153 MALONEY EUGENE PAUL C/O OPTICAL SENSORS INC 7615 GOLDEN TRIANGLE DRIVE, SUITE C EDEN PRAIRIE MN 55344-3733 0 1 0 0 V.P. of Product Development Stock Option (right to buy) 4 2004-03-11 4 A 0 52739 4 A 2014-01-19 Common Stock 52739 52739 D The option grant was approved by the Board of Directors of the Company on January 20, 2004, subject to stockholder approval of the stock option plan under which the option was granted. The Company's stockholders approved the plan on March 11, 2004. This option becomes exercisable on a cumulative basis with respect to 13,184 shares as of 1/20/05 and 13,185 shares as of 1/20/06, 1/20/07 and 1/20/08. /s/ Eugene Paul Maloney 2004-03-12