Working Capital Commitment dated March 20, 2006 by and between Richard J. Kurtz and the Company

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Richard J. Kurtz

Nine Duck Pond Road

Alpine, New Jersey 07632

 

March 20, 2006

LaPolla Industries, Inc.

15402 Vantage Parkway East

Suite 322

Houston, Texas 77032

Attention: Michael T. Adams, CEO

 

Re:

LaPolla Industries, Inc. (the “Company”)

Working Capital Commitment

Gentlemen:

This is in response to your request that I provide an assurance as to funding of One Million Five Hundred Thousand Dollars ($1,500,000) to be used as working capital to facilitate growth and expansion for the Company, as and when such funds are deemed required by management. I hereby confirm that I so commit to provide during fiscal 2006, upon the request of management, One Million Five Hundred Thousand Dollars ($1,500,000) in cash funds for use as working capital by the Company. I understand that such funding will take the form of a demand loan bearing 6% interest per annum. This commitment will either be satisfied from personal funds, or, I will cause the funds to be otherwise provided by an appropriate lending institution.

I have been further advised and understand that the aforesaid commitment and obligation will be superseded in the event and to the extent that the Company is independently funded by a third party source in an amount of at least One Million Five Hundred Thousand Dollars ($1,500,000), either privately or institutionally, during fiscal 2006. In such event, I or the lending institution utilized by me, to the extent any funds have been loaned pursuant to the above commitment, shall be promptly repaid.

 

	Very Truly Yours,
	/s/ Richard J. Kurtz
	Richard J. Kurtz

 

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