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EXHIBIT 10.8
PROMISSORY NOTE
For value received, National Lampoon, Inc.,
promises to pay to the order of Robert Levy, on or before October
6, 2008, at 3550 Wilshire Boulevard, Suite 840, Los Angeles,
California, the sum of One Hundred Thousand Dollars and 00/100
($100,000.00) in lawful money of the United States of America, with
interest from September 22, 2008, at the rate of 6% per month until
paid. This promissory note is secured by certain collateral
consisting of amounts due to the undersigned from the Screen Actors
Guild pursuant to that certain Pledge Agreement of even date. In
the event there is a suit or action to enforce payment of this note
or any portion thereof, the undersigned promises to pay such
additional sum as the court may adjudge reasonable as attorney fees
in said action or suit, and such amount shall be made a part of the
judgment, or if placed in the hands of attorneys for collection and
collection is effectuated without suit, the undersigned promises to
pay all costs and expenses of collection including reasonable
attorney fees.
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