eSAFETYWORLD, Inc.
000-00 Xxxxx Xxxxxx Xxxxxx
Xxxxxxxx, XX 00000
212-894-3797 ext. 1042
Fax: 000-000-0000
September 29, 1999
Ms. Xxxxxxxx Xxxxxx
Senior Credit Analyst
Xxxxxxxx-Xxxxx Corporation
0000 Xxxxxxx Xxxxxx Xxxx
Xxxxxxx, XX 00000
Re: Guaranty for payment of goods furnished to Laminaire Corporation
Dear Xx. Xxxxxx:
This letter confirms our obligation to unconditionally guarantee
payment for all goods sold and delivered by Xxxxxxxx-Xxxxx Corporation to
Laminaire Corporation. This guaranty covers the total sum of $ 85,449.90
representing the balance owed to Xxxxxxxx-Xxxxx Corporation by Laminaire
Corporation as of the date of this letter.
This guarantee shall continue in effect until revoked in writing by the
undersigned from both eSAFETYWORLD, Inc. and Xxxxxxxx-Xxxxx Corporation. Notice
of revocation shall not be effective until agreed upon and signed by both
parties.
Our liability to you under this guaranty is limited not only to the
aforementioned amount, but also to all future shipments and subsequent charges
incurred by Laminaire Corporation going forward, regardless of the shipment
address.
We will pay the unpaid portion of the amount covered by this guarantee
in full to Xxxxxxxx-Xxxxx Corporation upon the closing of our Initial Public
Offering. We will pay the unpaid portion of the amount covered by this guarantee
in full to Xxxxxxxx-Xxxxx within one week upon the closing of our Initial Public
Offering. Xxxxxxxx-Xxxxx Corporation agrees to provide us with monthly
statements showing all charges, payments, credits, and unpaid balance of
Laminaire debt until the balance is paid in full
Sincerely,
eSAFETYWORLD, Inc. AGREED to by:
/s/Xxxxxx X. Xxxx By: /s/Xxxxxxxx Xxxxxx
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Xxxxxx X. Xxxx Xxxxxxxx-Xxxxx Corporation
Chairman