EX-10 7 form10k_exrjc.txt EXHIBIT 10.492-INDEMNITY RJC UNDERTAKING AND INDEMNITY BETWEEN ROBERT JERYL CROWELL ELCOM INTERNATIONAL INC AND LLOYDS TSB COMMERCIAL FINANCE LIMITED UNDERTAKING AND INDEMNITY To: LLOYDS TSB Commercial Finance Limited Boston House The Little Green Richmond Surrey TW9 1QE Elcom Information Technology Limited and Elcom Holdings Limited ("the Companies") I refer to the agreements with a commencement date of 1st March 2001 between you and the Companies for the purchase by you of the Companies Debts ("the Debt Purchase Agreements") entered into by you in consideration inter alia of the confirmations, undertakings and obligations given or entered into below. I confirm that I have read the warranties, undertakings and indemnity given to you by the Companies set out in paragraphs 14.1-14.7 inclusive of the Standard Terms and Conditions for the Purchase of Debts ("STC") and the declarations of trust contained in paragraph 6.1 of the "STC" together "the relevant obligations" and fully understand their nature and effect. I confirm that to the best of my knowledge and belief (having made all reasonable enquiries) the Companies have complied with and are at today's date in compliance with the relevant obligations. In consideration of your entering into or continuing with the Debt Purchase Agreements or hereafter approving any Debt notified to you by either of the Companies: 1. I unconditionally undertake with you that whilst I am a director of either of the Companies I will not do anything by way of fraud, negligence or wilful default which will cause either of the Companies to be in breach of the relevant obligations. 2. In countersigning this document Elcom International Inc. of 10 Oceana Way, Norwood, Massachusetts MA02062, USA (Nasdaq: ELCO) agrees to indemnify you against all losses, costs, claims and demands which you may suffer or incur in consequence of a breach by Robert Jeryl Crowell of the confirmations and undertakings given by him in this document. continued..................... -2- The confirmations, undertakings and indemnities given in this document will not be affected by any variation to the Debt Purchase Agreements, any compromise, any failure to enforce remedies, any release or any indulgence in each case whether in respect of either of the Companies, any Debtor, or any other person who may give or have given you any guarantee indemnity or warranty for any of the obligations of either Company to you. Date: 1st March 2001 Name in full of the person giving this undertaking and residential address: Robert Jeryl Crowell 115 Warpole Street Dover Massachusetts 02030 USA Status with Companies: DIRECTOR Signature: /s/ Robert J. Crowell Witness' Signature: /s/ Linda Brown-Sonnenberg Witness Full Name: Linda Brown-Sonnenberg Address: 135 South Washington Street Norton, MA 02766 Occupation: Executive Assistant Date: 7th February 2001 /s/Peter Rendall, Chief Financial Officer Authorised Signatory For and on behalf of ELCOM INTERNATIONAL INC.