Solar Thin Films, Inc. – ‘8-K’ for 11/17/03 – EX-10.3

On:  Monday, 11/17/03, at 8:09pm ET   ·   As of:  11/18/03   ·   For:  11/17/03   ·   Accession #:  859792-3-45   ·   File #:  1-13549

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Augi Default 8-K                                       4     18K 
 2: EX-10.3     Material Contract -- defaultnotice                     1      8K 

EX-10.3   —   Material Contract — defaultnotice

                                                                    Exhibit 10.3

Default Notice

                                                                November 5, 2003

VIA FACSIMILE TRANSMISSION Fax 631-254-2136                                     
FEDEX OVERNIGHT MAIL                                                            
CERTIFIED MAIL:  RRR                                                            

Robert Rubin, individually                                                      
And as President, CEO and Chairman of                                           
American United Global, Inc.                                                    
25 Highland Blvd.                                                               
Dix Hills, New York  11756                                                      

        Re:      Default under Closing Agreement dated June 16, 2003
                       Default under Standstill Agreement dated October 23, 2003

Dear Bob:                                                                       

     Reference is made to that certain  Closing  Agreement  dated as of June 16,
2003 (the "Closing  Agreement"),  among American United Global,  Inc.  ("AUGI"),
Tracy  Landow,   Redwood  Investments   Associates,   L.P.  a  Delaware  limited
partnership  (Redwood),  myself  and  others and a  standstill  Agreement  dated
October 23, 2003 between  AUGI,  Tracy Landow,  Redwood and myself.  Capitalized
terms not otherwise  defined in this letter shall have the meanings  assigned to
such terms in the Closing Agreement.                                            

     The outstanding principal balance of the Landow Note exceeded $1,000,000 on
October 17, 2003 constituting a Default Event under the Closing Agreement, which
provides  that in such event the Sale of NYMI may be  requested by me. Under the
Standstill Agreement, I agreed not to request the Sale of NYMI until 5:01 PM EST
on October 31, 2003 at which time all Payment Events would have been required to
be consummated.                                                                 

     Let this letter serve as notice that a Default Event existed on October 31,
2003 at 5:01 PM EST and continues.  I hereby  exercise my rights under Section 4
of the  Closing  Agreement  to  request  the Sale of NYMI.  This  letter  is not
intended  and  should  not be  construed  as a waiver  of any of my  rights  and
entitlements  as  otherwise  provided  for  in the  Closing  Agreement  and  the
Standstill Agreement.                                                           

                                            Sincerely yours,

                                                  /s/ Jonathan S. Landow
                                                    Jonathan S. Landow, M.D.
                                             President and CEO
                                                  New York Medical, Inc.

cc:      Steven Weiss, Esq.                                                     
Gersten, Savage, Kaplowitz, Wolf & Marcus, LLP                
Fax 212 980-5192                                              

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing		Date		Other Filings
Filed as of:		11/18/03
Filed on / For Period End:		11/17/03		10-Q
		11/5/03
		10/31/03
		10/23/03		8-K
		10/17/03
		6/16/03		3,  4,  NT 10-Q
				List all Filings