Deferral Agreement for Non-Accountable Expense Allowance between Ladenburg Thalmann & Co. Inc. and Pawnbroker.com, Inc.

Summary

Ladenburg Thalmann & Co. Inc. agrees to defer receipt of a $35,000 non-accountable expense allowance from Pawnbroker.com, Inc., which would normally be due upon execution of a stock purchase agreement. Instead, payment will be made upon the first drawdown or by December 31, 2000, whichever comes first, with no interest if paid on time. The payment obligation is secured by a promissory note to be held in escrow by Epstein, Becker & Green in place of the cash fee.

EX-10.35 7 0007.txt LETTER AGREEMENT DATED JULY 7, 2000 EXHIBIT 10.35 [Ladenburg, Thalmann & Co. Letterhead] July 7, 2000 Greigory Park Chief Financial Officer Pawnbroker.com, Inc. 2900 Gordon Avenue, Suite 201 Santa Clara, CA 95051 Re: Deferral of Ladenburg Non-Accountable Expense Allowance Dear Greg: Per your request, Ladenburg Thalmann will agree to defer the receipt of the $35,000 non-accountable expense allowance which would otherwise be due to us upon the execution of the Common Stock Purchase Agreement and ancillary agreements between Pawnbroker and Gestrow Investments Limited, effective upon our receipt of the attached promissory note. Per your request, this note provides for payment of the $35,000 upon the first drawdown, but not later than December 31 of this year. No interest will accrue if the note is timely paid. Please return the original note to Mr. Charron to be held in escrow in lieu of our cash fee. By copy of this letter to Mr. Charron, this will serve to amend the escrow instructions to permit Epstein, Becker & Green to receive the note in place of the funds otherwise required. Sincerely, Ladenburg Thalmann & Co. Inc. By: /s/ Joseph A. Smith -------------------------------- Joseph A. Smith Managing Director Cc: Robert F. Charron w/enc. Ladenburg Thalmann & Co. Inc. 500 Madison Avenue, New York NY 10022