To Whom It May Concern:
I am the party charged with legal responsibility for holding$400,000.00 in investment funds for New Elements Corp. pending E-2 visa issuance on behalf of Mr. Luis Ramon Perez Martinez. This arrangement is designed to create an irrevocablecommitment by Mr. Perez Martinez of the investment funds towards New Elements Corp., but to also extend to him some degree of personal liability protection pending the adjudicationof his E-2 visa application. The investment funds have been designated for use solely by New Elements Corp., and all parties have agreed, as memorialized in writing throughthis agreement, that I shall be legally obligated and permitted to only release these funds for use specifically towards the business operations of New Elements Corp., includingpurchase of inventory, and only after approval of the E-2 visa of Mr. Perez Martinez.
These funds may only be released to Mr. Perez Martinez not for use towards thebusiness operations of New Elements Corp. in the event that E-2 visa status is not granted to him. The investment of funds is irrevocable and if such visa status is granted, I ambound to release the $400,000.00 for New Elements Corp.’s business enterprise only upon a showing of business necessity in the form of contracts, invoices, purchase agreements,lease agreements, or other legally binding documentation indicating a financial responsibility or debt owed by New Elements Corp. If you should have any questions regardingthis agreement, please feel free to contact me.
NOTARIZE & FILE A COPY WITH YOUR BANK. PROVIDE PROOF OF FILING AND NOTARIZED COPY FOR FILING.