Exhibit 26
----------
Mafco Holdings Inc.
00 Xxxx 00xx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
December 3, 2002
M & F Worldwide Corp.
00 Xxxx 00xx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Re: Termination of Letter Agreement
Gentlemen:
Reference is hereby made to the Letter Agreement, dated as of
April 19, 2001 (the "Letter Agreement"), between Mafco Holdings Inc., a
Delaware corporation ("Mafco"), and M & F Worldwide Corp., a Delaware
corporation ("M & F Worldwide").
The undersigned hereby agree that the Letter Agreement is hereby
terminated, effective as of the date hereof, and as a result of such
termination, neither Mafco nor M & F Worldwide (nor any of their respective
directors or officers) shall have any further obligations or liabilities to
the other in connection with or arising out of the Letter Agreement or its
termination.
Very truly yours,
MAFCO HOLDINGS INC.
By: /s/ Xxxx X. Xxxxxxx
--------------------------------------
Name: Xxxx X. Xxxxxxx
Title: Executive Vice President and
Chief Financial Officer
ACCEPTED AND AGREED:
M & F WORLDWIDE CORP.
By: /s/ Xxxxxx Xxxxxx
---------------------------------------
Name: Xxxxxx Xxxxxx
Title: Chairman of the Board of
Directors, President and Chief
Executive Officer
