Commitment Letter from Robert A. Levinson to Levcor International Board Regarding Cash Support
Robert A. Levinson has committed to personally support the cash needs of Levcor International up to $3 million through January 5, 2009. He also agrees not to demand repayment of any principal or interest currently owed to him by the company until after January 6, 2009. This letter reaffirms his previous commitment, as disclosed to auditors and in company filings. The agreement is intended to ensure Levcor International has sufficient funds during the specified period.
EXHIBIT 10.44
ROBERT A. LEVINSON
1065 AVENUE OF THE AMERICAS
NEW YORK, NY 10018
March 24, 2008
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| TO: | BOARD OF DIRECTORS OF LEVCOR INTERNATIONAL |
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| This letter will serve to reaffirm my commitment to personally support the cash needs of Levcor International through January 5, 2009 and not to demand any repayment of principal or interest currently owed to me until January 6, 2009. | |
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| This commitment is a reaffirmation of my commitment to our independent auditors, as reflected in their year-end management representation letter and disclosed in the 10-K and the 10-Q. |
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| I am prepared to fund up to a maximum of $3 million to meet the cash needs of Levcor International, if necessary. | |
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| Sincerely yours, |
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| /s/ ROBERT A. LEVINSON |
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| Robert A. Levinson |
