CHINA WORLD TRADE CORPORATION Room 1217, 12th Floor, The Metropolis Tower
Exhibit
10.17
CHINA
WORLD TRADE CORPORATION
Room
1217, 12th
Floor,
The Xxxxxxxxxx Xxxxx
00
Xxxxxxxxxx Xxxxx
Xxxxxxx,
Xxxx Xxxx
Peoples’
Republic of China
As
of
June 30, 2005
BY
FACSIMILE
Xxxxxx
Capital, LLC
000
Xxxxx
Xxxxxx
Xxx
Xxxx,
XX 00000
Attn:
Xxxxx Xxxxx, Managing Member
Re:
Termination of Placement Agent Agreement, dated November 15, 2004 (the
“Placement
Agent
Agreement”), among China World Trade Corporation (the "Company"),
Cornell
Capital
Partners, LP (“Cornell Capital”) and Xxxxxx Capital, LLC (“Xxxxxx
Capital”).
Ladies
and Gentlemen:
We
hereby
inform you that the Company and Cornell Capital, with your agreement and
consent, hereby terminate the Placement Agent Agreement between the Company,
Cornell Capital and Xxxxxx Capital, effective immediately. You hereby consent
to
a successor arrangement by which the Company will enter into a new Placement
Agent Agreement with Cambria Capital, LLC.
Please
be
advised that the Company hereby consents, as compensation for the services
which
you provided under the Placement Agent Agreement to date, that Xxxxxx Capital
shall retain the 150,000 shares of common stock of the Company that were issued
to you pursuant to the terms of the Placement Agent Agreement. However, you
also
agree that Xxxxxx Capital shall not be entitled to any further compensation
pursuant to the Placement Agent Agreement.
Please
indicate your agreement and consent to such termination by signing in the space
provided below, and returning a copy of this letter to us by facsimile at (000)
000-0000.
If
you
have any questions or comments regarding the foregoing, please do not hesitate
to contact us.
Very
truly yours,
Xxxxxx
Capital, LLC
1
As
of
June 30, 2005
Page
2.
CHINA
WORLD TRADE CORPORATION
By:
/s/ Xxxx X. Xxx
Name:
Xxxx X. Xxx
Title:
CEO and Vice Chairman
CORNELL
CAPITAL PARTNERS, LP
By:
/s/ Xxxx Xxxxxx
Name:
Xxxx Xxxxxx
Title:
Portfolio Manager
Agreed
To
By Xxxxxx Capital As Of
The
Date
First Written Above:
XXXXXX
CAPITAL, LLC
By:
/s/ Xxxxx Xxxxx
Name:
Xxxxx Xxxxx
Title:
Managing Member
cc:
Xxxxxx X. Xxxxxx, Esq.
2
