David J. Teece Subordinated Loan Commitment Letter to LECG, LLC (November 12, 2002)

Summary

David J. Teece has committed to provide up to $2 million in emergency funds to LECG, LLC, in the form of debt that is subordinated to LECG's senior bank debt. This commitment is available through March 31, 2003, and funds must be requested in writing at least two business days before they are needed. If advanced, the loan will accrue interest at the Prime Rate plus 3.5%, and LECG will also reimburse any related legal expenses.

EX-10.43 26 a2118977zex-10_43.htm EXHIBIT 10.43
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Exhibit 10.43

[DAVID J. TEECE LETTERHEAD]

November 12, 2002

Board of Directors
LECG, LLC
2000 Powell Street, Suite 600
Emeryville, CA 94608

Dear Sirs and Madam:

This letter constitutes my commitment to make up to $2 million of emergency funds, in the form of debt subordinated to LECG's senior bank debt, available to LECG through March 31, 2003. Such funds, if required, should be requested in writing two business days prior to a draw-down. If advanced, the principal would bear interest at a rate equal to the current Prime Rate plus 3.5% payable in arrears, plus reimbursement for any legal expenses incurred in connection herewith.

    Sincerely yours,

 

 

/s/  DAVID J. TEECE      
David J. Teece



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    Exhibit 10.43