function PanelHandles = MultiPanel(FigureHandle, Dimension, Margins, InterPanelSpacing, LetterSize, PanelLetters, LetterFontSize)
if ~exist('LetterFontSize', 'var')
    LetterFontSize = 12;
end

NumberOfPanelRows = Dimension(1);
NumberOfPanelColumns = Dimension(2);
RightMargin = Margins(2);
LeftMargin = Margins(1);
TopMargin = Margins(4);
BottomMargin = Margins(3);
if sum(LetterSize > 0) % have letter axes size, stuck between other spaces
    LetterWidth = LetterSize(1);
    LetterHeight = LetterSize(2);
else % have letter axes position, overlaying other spaces
    LetterWidth = 0;
    LetterHeight = 0;
    LetterX = LetterSize(1);
    LetterY = LetterSize(2);
end
InterPanelWidth = InterPanelSpacing(1);
InterPanelHeight = InterPanelSpacing(2);
PanelWidth = (1 - (LeftMargin + NumberOfPanelColumns*LetterWidth + (NumberOfPanelColumns - 1) * InterPanelWidth + RightMargin)) / NumberOfPanelColumns;
PanelHeight = (1 - (BottomMargin + (NumberOfPanelRows - 1) * InterPanelHeight + NumberOfPanelRows * LetterHeight + TopMargin)) / NumberOfPanelRows;

PanelHandles = nan(NumberOfPanelRows, NumberOfPanelColumns);
figure(FigureHandle)
for Row = 1:NumberOfPanelRows
    for Column = 1:NumberOfPanelColumns
        % create panel
        PanelHandles(Row, Column) = axes('Position', [LeftMargin + LetterWidth + (Column - 1) * (LetterWidth + InterPanelWidth + PanelWidth) ...
            BottomMargin + (NumberOfPanelRows - Row) * (LetterHeight + InterPanelHeight + PanelHeight) ...
            PanelWidth PanelHeight]);
        % put panel letter (if desired)
        if ~isempty(PanelLetters{Row, Column})
            if sum(LetterSize > 0)
                axes('Position', [LeftMargin + (Column - 1) * (LetterWidth + InterPanelWidth + PanelWidth) ...
                    BottomMargin + PanelHeight + (NumberOfPanelRows - Row) * (LetterHeight + InterPanelHeight + PanelHeight) ...
                    LetterWidth LetterHeight], 'visible', 'off')
            else
                MainAxesPosition = get(PanelHandles(Row, Column), 'Position');
                axes('Position', [MainAxesPosition(1) + LetterX, MainAxesPosition(2) + MainAxesPosition(4) - LetterY, eps, eps])
            end
            set(gca, 'visible', 'off')
            text(0.5, 0.5, PanelLetters{Row, Column}, 'FontSize', LetterFontSize, 'VerticalAlign', 'middle', 'HorizontalAlign', 'center', 'FontWeight', 'bold')%
        end
    end
end