EX-10 4 exh1014.txt EXHIBIT 10.14 Exhibit 10.14 1/10/05 Mutual Agreement Parkdale and Alstyle Apparel, Inc. Parkdale values its relationships with its customers and has requested to pursue an agreement with Alstyle Apparel to supply contracted amount of yarn needed to fulfill your purchasing requirements for the calendar years . The parties of this agreement are Parkdale and Alstyle Apparel, Inc. Now, therefore in consideration of the covenants recited herein the parties agree as follows: 1) Parkdale will be "The Yarn Supplier" for forecasted amount of 18's and 20's yarn starting January 1, 2006. 2) Alstyle will provide quarterly forecasts outlining their weekly yarn needs which should be supplied to Parkdale prior to the quarter deadline dates listed below. 3) Alstyle will call in cotton fixations based on the schedule listed below: a. First Quarter deadline - Nov. 30th Buying March b. Second Quarter deadline - February 28th Buying May c. Third Quarter deadline - May 31st Buying July d. Fourth Quarter deadline - August 30th Buying December If the dates listed above fall on a Saturday or Sunday parties agree to use the Friday before as the new deadline. The total conversion cost to Alstyle not including and look back option as described below will be for 18's and for 20's. Waste charge will be of the Cotton Fixation price. Parkdale will purchase any unfixed cotton contracts at the market price the day after the deadlines listed above. Look back options, can be put in place at Alstyle's option at a cost of . 4) Parkdale will send purchase agreements, in a form which is acceptable to both parties, for each quarter after the cotton fixations and forecasts have been received. 5) Parkdale will be responsible for all basis points and delivery of cotton to Parkdale. Alstyle will pay for all freight for Yarn from the Parkdale manufacturing location. 6) All yarn will be to Alstyle normal quality standards and Parkdale will warrant as in past practices with Alstyle. 7) Parkdale should receive first right of refusal on all 18's and 20's 100% Cotton of Alstyle's outside yarn purchases. 8) Alstyle may exit this agreement with a one year written notice and Parkdale may exist this agreement with an eighteen month written notice. Purpose of Disclosure - Each party shall utilize the Confidential Information disclosed by the other party only for the purpose of the business and shall not divulge it to others or utilize it for commercial use or practice or for any other purpose without the prior consent of the other party. IN WITNESS WHEREOF, the parties hereto have executed this mutual Agreement as of the date on which the last of the two parties affixes signature hereto. Alstyle Apparel, Inc. Parkdale /s/ Keith S. Walters /s/ Charles S. Heileg Date 2/1/05 Date 1/31/05