Exhibit 10(k)
Cooperation Agreement between Yellowstone (Hong Kong) Limited and
Westpark Holdings, LLC dated ?????, 2002
COOPERATION AGREEMENT
This Cooperation Agreement is entered into between WestPark
Holdings, LLC (hereafter referred to as Westpark) and Yellowstone
(Hong Kong) Limited (hereafter referred to as Yellowstone Hong
Kong) for the purpose of establishing a cooperative working
relationship between both parties.
WestPark Holdings, LLC. agrees to license to Yellowstone Hong Kong
the right to establish WestPark Hong Kong Limited as an affiliate
of WestPark.
Establishment of WestPark Hong Kong.
Yellowstone Hong Kong will incorporate a new Limited Liability
Company in Hong Kong called WestPark Hong Kong Limited (hereafter
referred to as WestPark Hong Kong).
Yellowstone Hong Kong will be responsible for all costs and
liabilities (including rental, facilities, traveling, regulatory
issues and all other necessary expenses) in the establishment and
operation of WestPark Hong Kong.
WestPark authorizes the use of its name for WestPark Hong Kong to
use while this agreement is active. The agreement will be licensed
on a month -to-month basis for an initial trial period of six
months. At the end of six months both WestPark and Yellowstone
Hong Kong agree to negotiate a longer renewal period such as year
to year as mutually agreed by both parties.
Yellowstone Hong Kong alone is liable for all of his acts and the
costs incurred in the conduct of business of WestPark Hong Kong.
WestPark will not be responsible or liable for any act of
Yellowstone Hong Kong or any costs incurred at anytime during the
conduct and operation of WestPark Hong Kong.
Yellowstone Hong Kong based in Hong Kong will be the principal
Asian contact for WestPark Hong Kong. Xxxxxx Xxxxxxxxx based in
Los Angeles will be the primary US based contact for WestPark Hong
Kong.
WestPark agrees to circulate to WestPark Hong Kong all current
deals for WestPark Hong Kong to determine if they can assist in
it's financing or if the company's product line may have a market
potential in Asia.
WestPark Hong Kong will have WestPark approve any and all marketing
material prior to being implemented.
WestPark agrees to license Yellowstone Hong Kong rights to produce
business cards with the name of WestPark Hong Kong as an affiliate of
WestPark. Verbiage on business cards subject to approval by WestPark.
WestPark Hong Kong agrees to produce marketing brochures and
websites in Chinese and English for marketing purposes in Asia.
Verbiage on sites and brochures subject to final approval by West
Park.
Should there be any disagreement between you and WestPark regarding the
interpretation of the provisions of this letter, Yellowstone Hong Kong
and WestPark agree to binding arbitration to resolve such dispute in the
state of California.
Please indicate your agreement to this letter by signing in the space
indicated and returning one copy to Westpark.
Dated: 21 March 2002
YELLOWSTONE (HONG KONG)
WESTPARK HOLDINGS, LLC.
LIMITED
By /s/ King Xxxx Xx By: /s/ Xxxxxxx X. Xxxxxxxxx
------------------- ---------------------------
King Xxxx Xx Xxxxxxx X. Xxxxxxxxx
President & Managing Director Chief Executive Officer
