RE: Renewal/Extension of Loan to Continucare Corporation (“Borrower”)
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EXHIBIT 10.1 March 26, 2004 Dr. Xxxxxxx Xxxxx |
| RE: | Renewal/Extension
of Loan to Continucare Corporation (“Borrower”) |
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Dear Xx. Xxxxx: Reference is made to the Unconditional Guaranty (as the same has been reaffirmed, amended or modified from time to time, the “Guaranty”), dated as of March 9, 2000, executed by you in favor of Xxxxxxx Xxxxx Business Financial Services Inc. (“Lender”), pursuant to which you guaranteed the repayment obligations of Borrower in connection with the WCMA Loan and Security Agreement, dated as of March 9, 2000, between Borrower and Lender (as same has been amended, extended or modified from time to time, the “Loan Agreement”). Borrower and Xxxxxx have negotiated an extension of the Loan Agreement as set forth in the attached letter. Please reaffirm, by executing this letter and returning it to the undersigned, that following the extension of the Loan Agreement as agreed by Xxxxxxxx and Lender, your Guaranty will remain in full force and effect. By executing this letter, you will also acknowledge your agreement to further extend the term of your Guaranty for an additional period of one-year beyond the proposed extended maturity date of the Loan Agreement if Borrower and Lender shall agree on such a further extension. In consideration of your written reaffirmation of the Guaranty, the Borrower shall issue to you 300,000 shares of the Corporation’s common stock, $.0001 par value per share. |
| Sincerely, CONTINUCARE CORPORATION By: /s/ Xxxxxxx X. Xxxxxxxxx, Xx. —————————————— Xxxxxxx X. Xxxxxxxxx, Xx. Chairman and Chief Executive Officer |
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CONFIRMATION: The undersigned agrees to the foregoing: /s/ Dr. Xxxxxxx Xxxxx |
