Document:

Exhibit 10.2

                            ASSET PURCHASE AGREEMENT

                      BUYER: GREENS WORLDWIDE INCORPORATED

                       SELLER: GREENS OF LAS VEGAS, INC.

                         EFFECTIVE DATE: July 31, 2002
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Article I Sale of Assets.......................................................4
     Section 1.1    SALE AND PURCHASE OF ASSETS................................4
     Section 1.2    PURCHASE PRICE.............................................5
     Section 1.3    LIMITED ASSUMPTION OF LIABILITIES..........................5
     Section 1.4    CLOSING....................................................5
     Section 1.5    ACTION TO BE TAKEN AT CLOSING..............................6
     Section 1.6    SALES, USE, INCOME AND OTHER TAXES.........................6
     Section 1.7    INTELLECTUAL PROPERTY......................................6

Article II Representations and Warranties of GOLV..............................8
     Section 2.1    ORGANIZATION AND GOOD STANDING.............................8
     Section 2.2    GOLV'S AUTHORITY AND NO BREACH.............................9
     Section 2.3    FINANCIAL STATEMENTS.......................................9
     Section 2.4    TITLE TO AND CONDITION OF ASSETS...........................9
     Section 2.5    CONDUCT OF BUSINESS SINCE JANUARY 1, 2002
                      AND PENDING THE CLOSING..................................9
     Section 2.6    REPRESENTATIONS ABOUT CONDUCT OF BUSINESS SINCE
                      JANUARY 1, 2002..........................................9
     Section 2.7    COMPLIANCE WITH LAW.......................................10
     Section 2.8    LITIGATION OR CLAIMS......................................10
     Section 2.9    ACCOUNTS RECEIVABLE.......................................10
     Section 2.10   LICENSES..................................................10
     Section 2.11   LOANS AND OTHER TRANSACTIONS..............................10
     Section 2.12   INSURANCE.................................................10
     Section 2.13   CONTRACTS, OBLIGATIONS AND COMMITMENTS....................11
     Section 2.14   LABOR AGREEMENTS..........................................11
     Section 2.15   CERTAIN EMPLOYEES.........................................11
     Section 2.16   CONSENTS..................................................11
     Section 2.17   NO UNFUNDED PENSION LIABILITIES...........................11
     Section 2.18   NO OBLIGATION BY GREENS TO REGISTER SHARES................11
     Section 2.19   NO UNTRUE REPRESENTATION OR WARRANTY......................11

Article III Representations and Warranties of Greens ("Sedona Worldwide
            Incorporated")....................................................11
     Section 3.1    ORGANIZATION AND GOOD STANDING............................12
     Section 3.2    GREENS'S AUTHORITY........................................12
     Section 3.3    NON CONFLICT..............................................12
     Section 3.4    NO ADVERSE PROCEEDING.....................................12
     Section 3.5    NO UNTRUE REPRESENTATION OR WARRANTY......................12

Article IV Survival of Representations and Warranties.........................12

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Article V Greens's Conditions Precedent to Closing............................13
     Section 5.1    WARRANTIES TRUE AND CORRECT...............................13
     Section 5.2    LICENSES, PERMITS, ETC....................................13

Article VI GOLV's Conditions Precedent to Closing.............................13
     Section 6.1    WARRANTIES TRUE AND CORRECT...............................13

Article VII Additional Agreements of GOLV and Heinen..........................14
     Section 7.1    INSPECTION OF PROPERTY....................................14
     Section 7.2    ACCESS TO DOCUMENTS.......................................14
     Section 7.3    NONCOMPETITION............................................15
     Section 7.4    CONDUCT OF BUSINESS OF THE TRANSFERRED ASSETS
                      PENDING THE CLOSING.....................................15
     Section 7.5    BROKERS...................................................15
     Section 7.6    UNDISCLOSED LIABILITIES...................................15

Article VIII Additional Agreements of Greens..................................16
     Section 8.1    BROKERS...................................................16
     Section 8.2    LICENSES, PERMITS, CONSENTS, ETC..........................16
     Section 8.3    PAYMENT OF LIABILITIES....................................16
     Section 8.4    JOINT AND SEVERAL LIABILITY...............................16
     Section 8.5    ACCESS TO DOCUMENTS.......................................16

Article IX Indemnification by GOLV and Heinen.................................16
     Section 9.1    INDEMNIFICATION...........................................16

Article X Miscellaneous.......................................................16
     Section 10.1   SUCCESSORS AND ASSIGNS....................................16
     Section 10.2   GOVERNING LAW AND JURISDICTION............................17
     Section 10.3   NOTICES...................................................17
     Section 10.4   PAYMENT OF EXPENSES.......................................18
     Section 10.5   ENTIRE AGREEMENT..........................................18
     Section 10.6   COUNTERPARTS..............................................18
     Section 10.7   HEADINGS..................................................18
     Section 10.8   OTHER DOCUMENTS...........................................18
     Section 10.9   WAIVER....................................................18
     Section 10.10  EXHIBITS..................................................18
     Section 10.11  LEGAL FEES................................................18

Greens Worldwide/Greens of Las Vegas Asset Purchase Agreement             Page 3
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                            ASSET PURCHASE AGREEMENT

     This Asset Purchase Agreement  (Agreement) is made and entered into with an
effective date of July 31, 2002 by and among Sedona Worldwide  Incorporated (the
name of which  will be  changed to Greens  Worldwide  Incorporated),  an Arizona
corporation  ("Greens"),  or its nominee (collectively  referred to as "Greens")
and Greens of Las Vegas, Inc., a Nevada corporation ("GOLV").

                                    RECITALS:

A.   GOLV has  developed  concepts,  knowledge  and plans for natural grass golf
putting  courses,  inspired by famous golf holes around the world and desires to
develop such a course in Las Vegas, Nevada (the Project).

B.   Greens  desires to  purchase  all of the assets of GOLV  including  but not
limited to all plans, designs, concepts and any and all proprietary rights to be
utilized in the  development of the Project.  All of the foregoing  assets which
are to be purchased by Greens under this  Agreement are referred to below as the
"Transferred Assets".

C.   After the  Transferred  Assets are  transferred  to Greens  pursuant to the
terms and  conditions  of this  Agreement,  GOLV will be a shell  entity with no
material assets or liabilities as recognized under generally accepted accounting
principles  other than the shares of Greens  stock  received  by GOLV under this
Agreement.

The Parties agree to the terms and  conditions,  representations  and warranties
set forth in this Agreement, including in the Recitals above.

                                    ARTICLE I

                                 SALE OF ASSETS

     SECTION   1.1  SALE  AND   PURCHASE   OF  ASSETS.   On  the  basis  of  the
representations and warranties and subject to the terms and conditions set forth
in this Agreement,  GOLV agrees to sell to Greens, and Greens agrees to purchase
from GOLV,  for the  consideration  specified  in  Sections  1.2 and 1.3 of this
Agreement, on the Closing Date referred to in Section 1.4 of this Agreement, all
of the Transferred Assets. The Transferred Assets include without limitation the
following assets of GOLV owned by GOLV.

     (a) All Intellectual Property, as defined in Section 1.7, that GOLV uses in
the operation of the Transferred Assets.

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     (b) All tangible  personal property owned or leased by GOLV and used in the
operation of the Transferred Assets, wherever located.

     (c)  All  intangible  personal  property  owned  by  GOLV  and  used in the
manufacture,  operation  of, or in  connection  with,  the  Transferred  Assets,
wherever located, including without limitation:

          (1) All of GOLV's  licenses  (but only to the extent such licenses are
transferable)  and contract rights necessary to or intended for the operation of
the Transferred Assets.

          (2) All of GOLV's rights but not obligations  under the leases of real
and personal property, if any, used in the operation of the Transferred Assets.

          (3) All of GOLV's trademarks,  trade names and goodwill related to the
operation of the Transferred Assets.

     (d)  Original  or true and  correct  copies of all books and records of the
Transferred Assets as may be necessary or desirable for the efficient conduct of
the business of the Transferred Assets in the ordinary course of business.

     (e) A detailed list of all Transferred Assets is attached to this Agreement
as Exhibit A.

     SECTION 1.2 PURCHASE PRICE.

     The total purchase  price to be paid by Greens to GOLV for the  Transferred
Assets  shall be eight  million  shares  of  Greens  unregistered  common  stock
represented by Stock  Certificate  No. __. The purchase price shall be allocated
among the Transferred  Assets described in this Agreement solely and exclusively
by Greens.

     SECTION 1.3 LIMITED  ASSUMPTION OF  LIABILITIES.  The Board of Directors of
GOLV  represent and warrant that GOLV's  outstanding  liabilities  do not exceed
$5,000.  At the Closing,  Greens shall assume and agree to pay or discharge  all
liabilities of the  Transferred  Assets up to a maximum  amount of $5,000.  GOLV
shall indemnify and hold Greens harmless for any and all debts or liabilities of
the Transferred Assets exceeding $5,000.

     SECTION 1.4 CLOSING.  The Closing under this Agreement  shall take place on
or before July 31,  2002,  at the offices of Greens  Worldwide  Incorporated  in
Phoenix,  Arizona at 9 a.m.,  local time,  to be effective at 11:59 p.m. on that
day,  or such  other  time,  date and place as Greens and GOLV may agree upon in
writing  (such time on such date being  referred  to as the "Time of Closing" or
"Closing" and such date being referred to as the "Closing Date").

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     SECTION  1.5  ACTION  TO BE TAKEN AT  CLOSING.  Subject  to the  terms  and
conditions  set  forth  in this  Agreement,  it is  agreed  that at the  Time of
Closing:

     (a) GOLV will deliver to Greens such bills of sale, deeds,  assignments and
other instruments of transfer as are reasonably requested by and satisfactory to
counsel for Greens, to transfer to Greens title to the Transferred Assets.

     (b)  Greens  shall  transfer  the  applicable  number  of shares to GOLV as
specified in Section 1.2.

     (c) GOLV will deliver to Greens all consents of third parties necessary for
the assignment of leases or contract rights, if any, under this Agreement.

     (d) The parties will deliver,  as appropriate,  such further  certificates,
consents  and other  documents as may be required to carry out the terms of this
Agreement.

     SECTION  1.6  SALES,  USE,  INCOME  AND OTHER  TAXES.  Sales and use taxes,
transfer taxes, investment tax credit recapture, depreciation recapture, and all
other  impositions  of tax with respect to the  transfers  contemplated  by this
Agreement shall be the responsibility of and shall be borne and paid by GOLV. In
addition,  GOLV shall be solely responsible for and shall pay all federal, state
and local  income taxes on the earnings of the  Transferred  Assets  through the
Closing Date.

     SECTION 1.7 INTELLECTUAL PROPERTY

     (a) INTELLECTUAL  PROPERTY ASSETS--The term "Intellectual  Property Assets"
includes:

          (1) The name  "Greens of Las Vegas",  all  fictional  business  names,
trading  names,  registered and  unregistered  trademarks,  service  marks,  and
applications (collectively, "Marks").

          (2) All patents,  patent applications,  and inventions and discoveries
that may be patentable (collectively, "Patents").

          (3) All  copyrights  in both  published  works and  unpublished  works
(collectively, "Copyrights").

          (4) All rights in mask works (collectively, "Rights in Mask Works").

          (5) All know-how, trade secrets,  confidential  information,  customer
lists,  software,  technical  information,   data,  process  technology,  plans,
drawings, and blue prints (collectively,  "Trade Secrets") owned, used, prepared
by or for, or licensed by, GOLV (as licensee or licensor).

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     (b)  AGREEMENTS  -  GOLV  has  disclosed  all  contracts  relating  to  the
Intellectual Property Assets to which GOLV is a party or by which GOLV is bound.
There are no outstanding  and, to GOLV's  knowledge,  no threatened  disputes or
disagreements, with respect to any such contracts.

     (c) KNOW-HOW NECESSARY FOR THE BUSINESS

          The  Intellectual  Property  Assets  are all those  necessary  for the
development  and operation of GOLV's  businesses and GOLV Products.  GOLV is the
owner of all  right,  title,  and  interest  in and to each of the  Intellectual
Property  Assets,  free and clear of all  liens,  security  interests,  charges,
encumbrances,  equities,  and other adverse claims, and has the right to use all
of the Intellectual Property Assets without payment to any third party.

     (d) TRADEMARKS

          (1) GOLV is the owner of all right, title, and interest in and to each
of the  Marks,  free  and  clear  of all  liens,  security  interests,  charges,
encumbrances, equities, and other adverse claims.

          (2) All  Marks,  if any,  that have been  registered  with the  United
States Patent and Trademark  Office are currently in compliance  with all formal
legal requirements (including the timely  post-registration filing of affidavits
of  use  and   incontestability  and  renewal   applications),   are  valid  and
enforceable,  and are not  subject to any  maintenance  fees or taxes or actions
falling due within ninety days after the Closing Date.

          (3)  No  Mark  has  been  or  is  now  involved  in  any   opposition,
invalidation,  or cancellation and no such action is threatened with the respect
to any of the Marks.

          (4) To GOLV's knowledge, there is no potentially interfering trademark
or trademark application of any third party.

          (5) No Mark is infringed or, to GOLV's knowledge,  has been challenged
or threatened in any way. None of the Marks used by GOLV infringes or is alleged
to infringe any trade name, trademark, or service mark of any third party.

          (6) All  products  and  materials  containing  a Mark bear the  proper
federal registration notice where permitted by law.

     (e) COPYRIGHTS

          (1) GOLV is the owner of all right, title, and interest in and to each
of the Copyrights,  free and clear of all liens,  security  interests,  charges,
encumbrances, equities, and other adverse claims.

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          (2) All the  Copyrights  have been  registered  and are  currently  in
compliance with formal legal  requirements,  are valid and enforceable,  and are
not  subject  to any  maintenance  fees or taxes or actions  falling  due within
ninety (90) days after the date of Closing.

          (3) No  Copyright  is  infringed  or,  to GOLV's  Knowledge,  has been
challenged or  threatened  in any way. None of the subject  matter of any of the
Copyrights  infringes or is alleged to infringe any copyright of any third party
or is a derivative work based on the work of a third party.

          (4) All works  encompassed by the Copyrights have been marked with the
proper copyright notice.

     (f) TRADE SECRETS

          (1) With respect to each Trade Secret,  the documentation  relating to
such Trade Secret is current,  accurate, and sufficient in detail and content to
identify and explain it and to allow its full and proper use without reliance on
the knowledge or memory of any individual.

          (2) GOLV has taken all reasonable  precautions to protect the secrecy,
confidentiality, and value of their Trade Secrets.

          (3) GOLV has good title and an absolute and exclusive right to use the
Trade  Secrets.  The  Trade  Secrets  are not part of the  public  knowledge  or
literature,  and,  to  GOLV's  knowledge,  have  not  been  used,  divulged,  or
appropriated either for the benefit of any person or to the detriment of Greens.
No Trade  Secret is  subject  to any  adverse  claim or has been  challenged  or
threatened in any way.

                                   ARTICLE II

                     REPRESENTATIONS AND WARRANTIES OF GOLV

     GOLV represents and warrants, subject to Schedule exceptions, as follows:

     SECTION 2.1  ORGANIZATION  AND GOOD  STANDING.  GOLV is, and on the Closing
Date  will be, a  corporation  duly  organized,  validly  existing,  and in good
standing  under the laws of the  jurisdiction  of its  incorporation,  with full
power and authority to own and lease its  respective  properties and to carry on
its respective business as now being conducted. GOLV is, and on the Closing Date
will  be,  duly  qualified  and  licensed  to  transact  business  as a  foreign
corporation  in all  states  or other  jurisdictions  where  the  nature  of the
business  transacted  or  properties  owned by it makes  such  qualification  or
licensing necessary.

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     SECTION 2.2 GOLV'S  AUTHORITY  AND NO BREACH.  GOLV has the full  corporate
right,  power and authority to execute,  deliver and carry out the terms of this
Agreement  and all  documents  and  agreements  necessary  to give effect to the
provisions of this Agreement. This Agreement has been duly authorized,  executed
and delivered by GOLV and the execution of this  Agreement and the  consummation
of the transactions  contemplated will not, with or without the giving of notice
and/or the passage of time, (a) violate any provision of law,  statute,  rule or
regulation to which GOLV is subject;  (b) violate any judgment,  order,  writ or
decree of any court  applicable to GOLV; (c) result in the breach or termination
of any provision of, or create rights of  acceleration,  or constitute a default
under or result in the creation or  imposition of any material  lien,  charge or
encumbrance  upon any of the properties or assets of GOLV under the terms of any
indenture, mortgage, deed of trust, contract, corporate charter, bylaw, or other
instrument  to which  GOLV is a party or by which it is bound;  or (d)  conflict
with,  or  result  in  any  violation  of  any  provision  of  the  Articles  of
Incorporation,  Bylaws or any other corporate document or agreement of GOLV. All
corporate action and other authorizations, including but not limited to approval
by the Board of Directors of GOLV,  which are a prerequisite to the execution of
this Agreement and the  consummation  of the  transactions  contemplated by this
Agreement  have been taken or obtained by GOLV.  This  Agreement  is a valid and
binding  agreement  of  GOLV,  approved  by the  Board  of  Directors  of  GOLV,
enforceable  in accordance  with its terms,  except insofar as enforcement of it
may be limited by bankruptcy, insolvency or other similar laws.

     SECTION 2.3  FINANCIAL  STATEMENTS.  GOLV has  delivered  to Greens the all
financial  statements prior to the Closing. All financial statements referred to
in this Section are true, complete and correct in all material respects and have
been  prepared in  accordance  with  generally  accepted  accounting  principles
consistently  applied.  Such financial  statements present fairly and accurately
the  financial  position of GOLV,  the  Transferred  Assets,  and the results of
GOLV's operations at the dates and for the periods indicated.

     SECTION  2.4 TITLE TO AND  CONDITION  OF  ASSETS.  Each of the  Transferred
Assets,  real or  personal,  to be  acquired  under  this  Agreement  is in good
operating  condition  and repair,  subject to ordinary  wear and tear,  and such
assets  collectively  are sufficient to carry on the business of the Transferred
Assets as previously conducted. Each of the Transferred Assets are owned by GOLV
free and clear of any claim, mortgage, pledge, lien, encumbrance or liability of
any kind to any party.

     SECTION  2.5  CONDUCT OF  BUSINESS  SINCE  JANUARY 1, 2002 AND  PENDING THE
CLOSING.  Since  January 1, 2002,  GOLV has not  transferred  or sold any of the
Transferred  Asset's  property or  business  (except in the  ordinary  course of
business) to any third party,  nor  transferred  any business assets or property
from  the  Transferred  Assets  to  any  other  entity  directly  or  indirectly
controlled by any of them.

     SECTION 2.6  REPRESENTATIONS  ABOUT  CONDUCT OF BUSINESS  SINCE  JANUARY 1,
2002. Since January 1, 2002, none of the following events have occurred:

     (a) No material adverse change in the properties,  conditions (financial or
otherwise),  assets,  liabilities,  business,  operations  or  prospects  of the
Transferred  Assets,  or operation of the business of the Transferred  Assets by
GOLV other than in the ordinary course of business.

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     (b) No  damage,  destruction  or  loss  of any  of the  Transferred  Assets
(whether  or not  covered  by  insurance)  materially  adversely  affecting  the
business, operations or prospects of the Transferred Assets or GOLV.

     (c) No sale or transfer of any of the assets of GOLV or cancellation of any
debt or claim,  with respect to the Transferred  Assets,  except in each case in
the ordinary course of business.

     SECTION 2.7  COMPLIANCE  WITH LAW. The business of GOLV with respect to the
Transferred  Assets  is  in  compliance  in  all  material  respects,  with  all
applicable  federal,  state, city, county or other laws, rules,  regulations and
ordinances,  and GOLV has complied with all applicable  statutes and regulations
of all governmental authorities having jurisdiction over any of them.

     SECTION 2.8  LITIGATION  OR CLAIMS.  There are no claims,  actions,  suits,
arbitrations, governmental investigations, inquiries, or proceedings pending or,
to the knowledge of GOLV, threatened against GOLV or the Transferred Assets, its
properties,  business  or  assets,  or the  transactions  contemplated  by  this
Agreement, before any court or governmental or administrative body or agency, or
any private arbitration  tribunal,  except matters for which the defense and any
liability  are fully  covered  by  insurance.  A brief  summary  of all  claims,
actions,  suits,  arbitrations,   governmental  investigations,   inquiries  and
proceedings is set forth in Exhibit B to this  Agreement.  GOLV does not know of
any basis for any claim, action, suit, arbitration,  investigation,  inquiry, or
proceeding  pending before any court or governmental or  administrative  body or
agency or any private arbitration tribunal. There is no outstanding order, writ,
injunction  or decree of any court or  arbitrator,  government  or  governmental
agency against or affecting the business of GOLV or the Transferred Assets.

     SECTION 2.9 ACCOUNTS RECEIVABLE. Any accounts receivable arising out of the
sale of any  Transferred  Assets  that  may be  sold  between  the  date of this
Agreement and the Closing of the Transferred Assets,  including those due to and
due from third  parties,  less  reserves for doubtful  accounts and  contractual
allowances,  as shown on the Closing Date Balance Sheet,  will be collectible by
Greens in the  ordinary  course of business  not later than six months after the
Closing Date.

     SECTION  2.10  LICENSES.   GOLV  has  all  necessary  material  franchises,
licenses,  contracts,  consents and  approvals  required by law or  governmental
regulations  from all applicable  federal,  state and local  authorities and any
other  regulatory  agencies  for  the  proper  conduct  of the  business  of the
Transferred  Assets,  and  GOLV is not in  default  in any  respect  under  such
franchises, licenses, contracts, consents and approvals.

     SECTION  2.11 LOANS AND OTHER  TRANSACTIONS.  GOLV has not made any loan to
any of its  shareholders,  directors,  officers  or  employees,  nor is any such
person a party to any material transaction or contract with GOLV, except in each
case as set forth in Schedule C.

     SECTION 2.12  INSURANCE.  GOLV has  furnished to Greens on Schedule D which
sets  forth a list and  brief  description  of all  policies  of fire,  extended
coverage,  liability and all other kinds of insurance  held by GOLV with respect

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to the  Transferred  Assets and all claims made on the foregoing  policies since
January 1, 2001.  Such  policies  are and, on the Closing  Date will be, in full
force  and  effect,  and GOLV is not  delinquent  with  respect  to any  premium
payments on them.

     SECTION 2.13 CONTRACTS, OBLIGATIONS AND COMMITMENTS. Exhibit E sets forth a
list and brief  summary  of all  material  contracts  entered  into by GOLV with
respect to the operation of the Transferred  Assets.  None of such contracts is,
or on the Closing Date will be, materially adverse to GOLV. There is not, and on
the  Closing  Date  there  will not be,  under any such  contract  any  existing
material  default or any  condition,  event or act which with notice or lapse of
time or both, would constitute a material default.

     SECTION 2.14 LABOR AGREEMENTS. There are no contractual agreements with any
labor union with respect to the business or operation of the Transferred Assets,
nor does GOLV have any  knowledge of any union  organizing  activity  within the
last three years.

     SECTION 2.15 CERTAIN  EMPLOYEES.  GOLV has furnished to Greens  Schedule F,
which sets forth a correct and  complete  list,  with respect to the business of
the  Transferred   Assets,   of  all  persons  whose  current  aggregate  annual
compensation  from GOLV is expected to equal or exceed  $10,000.00 in 2002,  and
all increases received by any of such persons after January 1, 2002.

     SECTION  2.16  CONSENTS.  No  consents,  approvals  or  authorizations  are
required in connection with the valid execution, delivery or performance of this
Agreement  other  than  the  Board  of  Directors  of  GOLV,  which  has met and
authorized the entering into of this Agreement.

     SECTION  2.17  NO  UNFUNDED  PENSION  LIABILITIES.   GOLV  has  no  Pension
liabilities of any kind or description.

     SECTION  2.18 NO  OBLIGATION  BY GREENS TO REGISTER  SHARES.  GOLV shall be
solely  responsible for all efforts and costs to register the shares received by
it in Greens,  under this  Agreement,  and to comply in full with all applicable
corporate and securities laws.

     SECTION 2.19 NO UNTRUE  REPRESENTATION  OR WARRANTY.  No  representation or
warranty by GOLV in this Agreement,  nor any statement,  schedule or certificate
furnished or to be furnished to Greens pursuant to it, or in connection with the
transactions contemplated, contains or will contain, at the time of Closing, any
untrue  statement of a material  fact, or omits or will omit to state a material
fact necessary to make the statements contained in it not misleading.

                                   ARTICLE III

   REPRESENTATIONS AND WARRANTIES OF GREENS ("SEDONA WORLDWIDE INCORPORATED")

     Greens represents and warrants as follows:

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     SECTION  3.1  ORGANIZATION  AND GOOD  STANDING.  Greens or its  nominee  or
assignee will be on the Closing Date, an entity duly organized, validly existing
and in good standing under the laws of the State of Arizona.

     SECTION 3.2 GREENS'S AUTHORITY.  Greens has the full corporate right, power
and authority to execute,  deliver and carry out the terms of this Agreement and
all documents and agreements  necessary to give effect to the provisions of this
Agreement.  This Agreement has been duly  authorized,  executed and delivered by
Greens  and  the  execution  of  this  Agreement  and  the  consummation  of the
transactions  contemplated will not result in any conflict,  breach or violation
of or default  under any  charter,  bylaw,  statute,  judgment,  order,  decree,
license, law, regulation, mortgage, agreement, deed of trust, indenture or other
instrument  to which  Greens is a party or by which it is bound.  All  corporate
action and other authorizations  prerequisite to the execution of this Agreement
and the  consummation  of the  transactions  contemplated by this Agreement have
been taken or obtained by Greens.  Except for required present or future filings
under state and federal  securities laws, no authorization,  consent or approval
of,  or  filing  that has not been  duly made  with,  any  governmental  body or
authority,  and no  authorization,  consent or approval of any third  party,  is
necessary for the  consummation  by Greens of the  transactions  contemplated by
this  Agreement.  This  Agreement  is a valid and  binding  agreement  of Greens
enforceable  in accordance  with its terms,  except insofar as enforcement of it
may be limited by bankruptcy, insolvency or similar laws.

     SECTION 3.3 NON CONFLICT.  This  Agreement  does not (i) conflict  with, or
result in any violation of any provision  of, the Articles of  Incorporation  or
Bylaws of  Greens,  (ii)  violate  or  conflict  with,  or result in a breach or
termination of or default under, any agreement,  instrument,  license, judgment,
order, decree,  statute, law or regulation applicable to Greens, or (iii) result
in the creation or imposition of any lien on any asset of Greens.

     SECTION 3.4 NO ADVERSE  PROCEEDING.  No material action, suit or proceeding
is pending,  or, to the best of Green's knowledge,  is threatened against Greens
at law  or in  equity,  or  before  any  national,  state,  municipal  or  other
governmental department, commission, board, bureau, agency or instrumentality.

     SECTION 3.5 NO UNTRUE  REPRESENTATION  OR WARRANTY.  No  representation  or
warranty by Greens in this Agreement, nor any statement or certificate furnished
or  to  be  furnished  to  GOLV  pursuant  to  it,  or in  connection  with  the
transactions  contemplated,  contains or will contain any untrue  statement of a
material  fact, or omits or will omit to state a material fact necessary to make
the statements contained in it not misleading.

                                   ARTICLE IV

                   SURVIVAL OF REPRESENTATIONS AND WARRANTIES

     SECTION 4.1 The  representations,  warranties,  covenants,  agreements  and
indemnifications  of Greens and GOLV contained in this  Agreement  shall survive
the Closing  Date for a period of three years and shall be deemed to be material
and  to  have  been  relied  upon  by  Greens  and  GOLV,   notwithstanding  any
investigation  or  inspection  made by  Greens or GOLV,  or on their  respective
behalf.

Greens Worldwide/Greens of Las Vegas Asset Purchase Agreement            Page 12
<PAGE>
                                    ARTICLE V

                    GREENS'S CONDITIONS PRECEDENT TO CLOSING

     Greens'  agreement  to purchase  and pay for the  Transferred  Assets to be
purchased  under this Agreement is subject to compliance with and the occurrence
of each of the  following  conditions  except  as any of them may be  waived  in
writing by Greens.

     SECTION 5.1 WARRANTIES TRUE AND CORRECT.  Each of the  representations  and
warranties  of GOLV set forth in this  Agreement  and in the Exhibits  delivered
pursuant to it shall be true and correct in all  material  respects at and as of
the Closing Date.  The covenants,  agreements  and  conditions  required by this
Agreement to be performed  and complied  with by GOLV shall have been  performed
and complied  with in all material  respects.  GOLV shall execute and deliver to
Greens a certificate to such effect,  in a form  acceptable to legal counsel for
Greens,  signed  by the  President  or a Vice  President  of GOLV and  dated the
Closing Date.

     SECTION 5.2  LICENSES,  PERMITS,  ETC.  Greens  shall have been granted all
appropriate and necessary licenses,  permits,  approvals,  clearances,  provider
numbers,  contracts,  consents and certifications necessary for the operation of
the Transferred Assets as previously operated.

                                   ARTICLE VI

                     GOLV'S CONDITIONS PRECEDENT TO CLOSING

     GOLV's  agreement  to sell and  deliver the  Transferred  Assets to be sold
under this Agreement is subject to compliance with and the occurrence of each of
the following conditions, except as any of them may be waived in writing by it:

     SECTION 6.1 WARRANTIES TRUE AND CORRECT.  Each of the  representations  and
warranties  of Greens set forth in this  Agreement  shall be true and correct in
all material  respects at and as of the Closing Date. The covenants,  agreements
and  conditions  required by this Agreement to be performed and complied with by
Greens shall have been performed and complied with in all material respects.  If
requested  in  writing  by GOLV,  Greens  shall  execute  and  deliver to GOLV a
certificate  to such effect,  in a form  acceptable  to legal  counsel for GOLV,
signed by an authorized officer of Greens dated the Closing Date.

Greens Worldwide/Greens of Las Vegas Asset Purchase Agreement            Page 13
<PAGE>
                                   ARTICLE VII

                    ADDITIONAL AGREEMENTS OF GOLV AND HEINEN

     SECTION 7.1  INSPECTION OF PROPERTY.  Greens or its  representatives  shall
have reasonable rights of inspection of all Transferred  Assets, to be purchased
by Greens under this Agreement.

     SECTION 7.2 ACCESS TO DOCUMENTS.  Greens or its representatives  shall have
full and complete  access to all material  contracts  and  litigation  documents
relating to the  business  of the  Transferred  Assets,  as well as the books of
account  and other  records of GOLV and of the  Transferred  Assets.  GOLV shall
furnish  Greens  with  such  copies of the  foregoing  materials  as Greens  may
reasonably request.

     SECTION 7.3  NONCOMPETITION.  GOLV and Eddie Heinen  (Heinen),  jointly and
severally,  agree not to compete with the business to be carried on by Greens as
a result of the  consummation of the transactions  contemplated,  to the maximum
extent  permitted  under law. GOLV agrees to the following  terms and conditions
pertaining to noncompetition.

     (a) For a period of five years after the Closing.

          (1) GOLV and Heinen will not, directly or indirectly, engage or invest
in, own, manage,  operate,  finance,  control,  or participate in the ownership,
management,  operation,  financing,  or control of, be employed  by,  associated
with, or in any manner  connected  with, lend GOLV's name or any similar name or
trade  name to,  lend  GOLV's  credit to, or render  services  or advice to, any
business  whose  products  or  activities  compete  in whole or in part with the
products or activities of Greens, anywhere within Nevada,  Arizona,  California,
Colorado,  New Mexico or Northern  Mexico.  GOLV  agrees  that this  covenant is
reasonable with respect to its duration, geographical area, and scope.

          (2) GOLV and  Heinen  will not,  directly  or  indirectly,  either for
itself or any other  person,  (A) induce or attempt  to induce any  employee  of
Greens  to  leave  the  employ  of  Greens,  (B) in any way  interfere  with the
relationship between Greens and any employee of Greens, (C) employ, or otherwise
engage as an employee,  independent  contractor,  or otherwise,  any employee of
Greens  employed by Greens as of the Closing  Date,  or (D) induce or attempt to
induce any customer, supplier, licensee, or business relation of Greens to cease
doing  business  with  Greens,  or in any way  interfere  with the  relationship
between any customer, supplier, licensee, or business relation of Greens.

          (3) GOLV and  Heinen  will not,  directly  or  indirectly,  either for
itself or any other person,  solicit the business of any person known to GOLV to
be a customer of GOLV as of the Closing  Date,  whether or not GOLV had personal
contact with such person,  with respect to products or activities  which compete
in whole or in part  with the  products  or  activities  of  Greens  or with the
business arising out of the Transferred Assets.

Greens Worldwide/Greens of Las Vegas Asset Purchase Agreement            Page 14
<PAGE>
     (b) In the event of a breach by GOLV or Heinen of any covenant set forth in
Subsection 7.3 (a) of this Agreement, the term of such covenant will be extended
for the period of the duration of such breach.

     (c) GOLV and  Heinen  will not,  at any time  during or after the five year
period,  disparage  Greens  or  any of its  shareholders,  directors,  officers,
employees, or agents.

     SECTION  7.4  CONDUCT OF BUSINESS  OF THE  TRANSFERRED  ASSETS  PENDING THE
CLOSING.  From the date of this  Agreement and to the Closing Date,  GOLV agrees
that,  unless Greens otherwise  consents in writing,  GOLV will, with respect to
the business of the Transferred Assets:

     (a) Carry on the  business of the  Transferred  Assets only in the ordinary
course and in substantially the same manner as each has previously.

     (b) Maintain and preserve their  business  organizations  intact,  maintain
their  goodwill and  relationships  with their present  officers,  shareholders,
employees,  suppliers,  customers,  distributors  and  others  having a business
relationship  with any of them, and maintain all licenses and permits  requisite
to the business and operation of the Transferred Assets.

     (c) Not  transfer or sell any of their  assets or waive or  relinquish  any
valuable  rights,  nor  transfer any assets from the  Transferred  Assets to any
other entity directly or indirectly controlled by any of them.

     (d) Not commit for any capital expenditure.

     (e) Not enter  into or assume  any  material  contract,  including  without
limitation any mortgage, pledge, conditional sale, security agreement, or create
or suffer to be created any lien,  encumbrance  or charge  (except for taxes not
due or payable),  of any kind upon any of their Transferred Assets,  whether now
owned or subsequently acquired.

     SECTION 7.5  BROKERS.  GOLV and Heinen,  jointly  and  severally,  agree to
indemnify  Greens against and to hold Greens  harmless from any claim made for a
broker's or finder's fee or other  similar  payment  based upon any  agreements,
arrangements or understandings made by GOLV and/or Heinen.

     SECTION  7.6  UNDISCLOSED   LIABILITIES.   GOLV  and  Heinen,  jointly  and
severally,  agree that Greens will not be obligated for  liabilities of any kind
or nature, whether absolute,  accrued,  contingent or otherwise,  whether or not
such  matters are  normally  set forth or  reflected  in a financial  statement,
except for the  liabilities  of GOLV  referred to in Section  1.3,  and that any
other such liabilities shall be promptly paid by GOLV if they arise.

Greens Worldwide/Greens of Las Vegas Asset Purchase Agreement            Page 15
<PAGE>
                                  ARTICLE VIII

                         ADDITIONAL AGREEMENTS OF GREENS

     SECTION 8.1 BROKERS.  Greens  agrees to indemnify  GOLV against and to hold
harmless  from any claim made for a broker's  or finder's  fee or other  similar
payment  based  upon any  agreements,  arrangements  or  understandings  made by
Greens.

     SECTION 8.2 LICENSES,  PERMITS,  CONSENTS,  ETC. Greens agrees to cooperate
with GOLV and to use its best efforts to obtain any licenses, permits, approvals
and  consents  that may be  required  in order to  consummate  the  transactions
contemplated.

     SECTION  8.3  PAYMENT  OF  LIABILITIES.  Greens  agrees to pay when due the
liabilities assumed by it pursuant to Section 1.3.

     SECTION  8.4 JOINT AND  SEVERAL  LIABILITY.  Greens  agrees that it and its
nominees  shall be jointly  and  severally  liable for the  liabilities  of GOLV
assumed pursuant to Section 1.3.

     SECTION 8.5 ACCESS TO  DOCUMENTS.  GOLV or its  representatives  shall have
full and complete  access,  before and after the Closing  Date,  to all material
documents  in  the  possession  of  Greens  relating  to  the  business  of  the
Transferred Assets prior to the Closing Date.

                                   ARTICLE IX

                       INDEMNIFICATION BY GOLV AND HEINEN

     SECTION  9.1  INDEMNIFICATION.  GOLV and  Heinen,  jointly  and  severally,
indemnify and holds harmless Greens, its successors and assigns, for a period of
three years after the Closing Date, against and in respect of any damage,  loss,
cost, expense or liability (including  attorney's fees) resulting to Greens from
any false,  misleading  or  inaccurate  representation,  breach of  warranty  or
nonfulfillment of any agreement or condition on the part of GOLV or Heinen under
this  Agreement  or from  any  misrepresentation  in or any  omission  from  any
certificate,  list, exhibit or other instrument  furnished or to be furnished to
Greens under this Agreement.

                                    ARTICLE X

                                  MISCELLANEOUS

     SECTION 10.1  SUCCESSORS AND ASSIGNS.  All the terms and provisions of this
Agreement  shall be binding upon and inure to the benefit of and be  enforceable
by the respective successors and assigns of the parties, whether so expressed or
not.

     SECTION  10.2  GOVERNING  LAW AND  JURISDICTION.  This  Agreement  has been
executed and will be  consummated  in the State of Arizona and is to be governed
by and  interpreted  under the laws of that  State.  Any  action  or  proceeding

Greens Worldwide/Greens of Las Vegas Asset Purchase Agreement            Page 16
<PAGE>
seeking to enforce any  provision of, or based on any right arising out of, this
Agreement must be brought against any of the parties exclusively in the Maricopa
County, Arizona Superior Court and each of the parties consents to the exclusive
jurisdiction of such court (and of the appropriate appellate courts) in any such
action or proceeding and waives any objection to such.  Process in any action or
proceeding  referred  to in the  preceding  sentence  may be served on any party
anywhere in the world.

     SECTION  10.3  NOTICES.   All  notices,   consents,   waivers,   and  other
communications  under this  Agreement  must be in writing  and will be deemed to
have been duly given when (a)  delivered by hand (with written  confirmation  of
receipt),  (b)  sent by  telecopier  (with  written  confirmation  of  receipt),
provided that a copy is mailed by registered mail, return receipt requested,  or
(c) when received by the addressee, if sent by a nationally recognized overnight
delivery service (receipt requested),  in each case to the appropriate addresses
and  telecopier  numbers  set  forth  below  (or to  such  other  addresses  and
telecopier numbers as a party may designate by notice to the other parties):

               Greens of Las Vegas, Inc.
               6480 Spring Mountain Road
               Suite 5
               Las Vegas, NV 89146

               Greens Worldwide Incorporated
               Attention: Joseph P. Martori
               2111 E. Highland, Suite 210
               Phoenix, AZ 85016

               with a copy to:

               Al Spector, Esq.
               Spector Law Offices, P.C.
               4020 N. Scottsdale Road, Suite 300
               Scottsdale, AZ 85251
               Fax: (480) 990-9093

or such  other  address as any  person  may  request  by notice  given as above.
Notices  sent as provided in this  Agreement  shall be deemed  filed on the date
mailed.

Greens Worldwide/Greens of Las Vegas Asset Purchase Agreement            Page 17
<PAGE>
     SECTION  10.4  PAYMENT  OF  EXPENSES.  GOLV  shall  pay its  own  expenses,
including  without  limitation,  the  disbursements  and fees of its  attorneys,
accountants,  advisors,  agents  and other  representatives,  incidental  to the
preparation and carrying out of this Agreement,  whether or not the transactions
contemplated are consummated.

     SECTION 10.5 ENTIRE AGREEMENT. This Agreement (including the Exhibits), and
all other  agreements and documents  executed in connection  with it constitutes
the entire  agreement  between the parties  with respect to the subjects of this
Agreement and no amendment,  alteration or  modification of this Agreement shall
be valid unless in each instance such  amendment,  alteration or modification is
expressed in a written instrument duly executed by the party or parties agreeing
to such amendment, alteration or modification.

     SECTION 10.6 COUNTERPARTS. This Agreement may be executed simultaneously in
any number of counterparts,  each of which shall be deemed an original,  but all
of which together shall constitute one and the same instrument.

     SECTION 10.7 HEADINGS.  The headings  contained in this Agreement have been
inserted for the  convenience  of reference only and shall in no way restrict or
modify any of the terms or provisions of this Agreement.

     SECTION 10.8 OTHER  DOCUMENTS.  Each party to this Agreement  will, upon an
appropriate  request,  execute  and  deliver to the  appropriate  party all such
further  assignments,  endorsements  and other  documents as may  reasonably  be
required in order to perfect the sale, transfer and delivery of the assets to be
purchased and sold under this Agreement.

     SECTION 10.9 WAIVER. The failure of any party to insist, in any one or more
instances,  on  performance of any of the terms and conditions of this Agreement
shall not be construed as a waiver or relinquishment of any rights granted under
this  Agreement,  or of the future  performance  of any such term,  covenant  or
condition,  but the obligations of the parties with respect to shall continue in
full force and effect.

     SECTION 10.10 EXHIBITS.  Any Exhibit not attached to this Agreement,  or if
attached,  not completed  and initialed by GOLV and Greens,  shall be subject to
the approval of Greens within ten (10) business days after its actual receipt.

     SECTION  10.11 LEGAL FEES. If any party to this  Agreement  fails to comply
with the  terms  and  conditions  of this  Agreement,  then the  other  party is
entitled to recover the costs and expenses, including attorneys' fees and costs,
of any efforts or legal action taken to enforce the terms of this Agreement.

Greens Worldwide/Greens of Las Vegas Asset Purchase Agreement            Page 18
<PAGE>
Greens Worldwide Incorporated,
an Arizona corporation

By: ______________________________

    __________________(print name)

Its: _____________________________

     _________________(print name)

Date: _______________

Greens of Las Vegas, Inc.,
a Nevada corporation

By: ______________________________

    __________________(print name)

Its: _____________________________

     _________________(print name)

Date: _______________

__________________________________
Eddie Heinen, as to Article VII and Article IX.

Date: __________________

Greens Worldwide/Greens of Las Vegas Asset Purchase Agreement            Page 19
<PAGE>
                                LIST OF EXHIBITS

1.   List of Transferred Assets (Section 1.1)

2.   List of Litigation or Potential Claims (Section 2.8)

3.   Loan to and Contracts with Shareholders,  Directors, Officers and Employees
     (Section 2.11)

4.   List of Insurance Policies and Claims since January 1, 2001 (Section 2.12)

5.   List of All Material Contracts (Section 2.13)

6.   List of Employees earning more than $10,000 (Section 2.15)

Greens Worldwide/Greens of Las Vegas Asset Purchase Agreement            Page 20<PAGE>
                                                                   EXHIBIT 10.1

                     EMPLOYMENT AGREEMENT FOR EDWARD D. FOX

        This Employment Agreement (this "Agreement") is made and entered as of
January 1, 2002 (the "Effective Date") by and between Edward D. Fox (the
"Executive") and Center Trust, Inc. (the "Company") and CT Operating
Partnership, L.P. (the "Partnership"). (The Company and the Partnership are
hereinafter collectively referred to as the "Employers.")

        The Employers and Executive previously entered into that certain
employment agreement dated as of January 1, 1999 (as amended)(the "Prior
Agreement"). The parties agree that, except as set forth herein, the Prior
Agreement is terminated as of the Effective Date.

        1. Positions and Duties. The Employers hereby employ Executive as the
Chief Executive of the Company and as an employee of the Partnership during the
"Term of Employment" (as hereinafter defined) of this Agreement, with powers and
duties consistent with such position and Executive's stature and experience and
as may be required by the Board of Directors ("the "Board") of the Company and
the General Partner (the "General Partner") of the Partnership (the "Duties").
In addition, for so long as Executive is elected by the Company's stockholders
to serve as a member of the Board, then for so long as Executive is an employee
of the Company, Executive agrees to serve as a member thereof. The Duties shall
be generally performed at the offices of the Company where located from time to
time. In addition, the Duties may be performed by Executive from time to time on
a temporary travel basis at such other locations as the Company or the
Partnership shall reasonably request consistent with their reasonable business
needs. Executive shall report to the Board and the General Partner. Executive
shall have such executive power and authority as shall reasonably be required to
enable Executive to discharge the duties of such offices. In addition, Executive
has been elected by the Board to serve as Chairman of the Board of Directors
(however, this shall not entitle Executive to remain as Chairman and Executive
may be removed as Chairman by the Board pursuant to the Company Bylaws).

        Executive shall use Executive's good faith best efforts and judgement in
performing Executive's duties as required and to act in the best interest of the
Employers. Executive shall devote such time, attention and energies to the
business of the Employers as are reasonably necessary to satisfy Executive's
required responsibilities and duties hereunder. Both Executive and Employers
expect that over the course of the Initial Term of this Agreement and thereafter
for each Extension Term, if any, Executive's time, attention and energies shall
be approximately in the same proportion as the Fixed Salary Executive is now
receiving compared to the Fixed Salary Executive received in his Prior
Agreement. Executive may engage in other activities for Executive's own account
while employed hereunder, including charitable, community activities and
business activities with the approval of the Employers provided that such other
activities do not conflict or interfere with the performance of Executive's
duties hereunder.

        2. Term. The term of this Agreement will commence on the Effective Date
and shall continue until December 31, 2004 (the "Initial Term") unless earlier
terminated as provided for in Section 7. At the expiration of each year during
the Initial Term and each anniversary thereafter, the term of this Agreement
shall automatically be extended for an additional year (the "Extension Term")
(such that there shall always be a "rolling" three year term unless either party
shall have given written notice to the other party at least ninety (90) days
prior to the end of a given year that it does not desire to continue to extend
the term of this Agreement. If Executive's

<PAGE>

employment term under this Agreement is extended for an Extension Term, it shall
thereafter or during any Extension Term be terminable only as provided in
Section 7. References herein to either the "Term" or the "Term of Employment" of
this Agreement shall refer to both such Initial Term and any Extension Term, as
they may be terminated pursuant to Section 7 below.

        3. Salary. Commencing on the Effective Date, and for the duration of the
Term of Employment, the Company shall pay to Executive a Fixed Salary, payable
in equal installments, no less frequently than monthly, in accordance with the
Company's prevailing payroll policy (the "Fixed Salary") in the amounts set
forth in this paragraph:

        From January 1, 2002 through April 15, 2002 -- $109,375
        From April 15, 2002 through June 30, 2002 -- $39,063
        From July 1, 2002 through December 31, 2002 -- $37,500
        From and after January 1, 2003 -- $75,000 annually

        The Fixed Salary of Executive shall be reviewed on an annual basis and
may be increased (but not decreased), if appropriate, on an annual basis.

        In addition to the Fixed Salary, the Employers may pay Executive a bonus
("Bonus") on an annual basis in an amount up to 100% of Fixed Salary to be
determined by the Board in accordance with criteria as reasonably determined by
the Compensation Committee of the Board. For all calendar years beginning 2002
the Bonus shall be payable in cash. Notwithstanding the foregoing, the Bonus for
calendar year 2002 shall be no less than $75,000.

        4. Expenses. In accordance with the Employers' policies, the Employers
will promptly reimburse Executive for all reasonable travel and business
expenses paid or incurred by Executive in the performance of his duties
hereunder. The Employers shall promptly reimburse Executive for all reasonable
expenses incurred by Executive with respect to professional memberships and
continuing education upon evidence of receipt in accordance with the Employers'
policies.

        5. Long Term Incentive Compensation. Employers have previously granted
to Executive 243,750 shares of the Company's common stock (the "Incentive
Stock") of which 240,000 shares shall vest in accordance with the provisions
hereafter;

                (a). 45,000 of such Incentive Stock shall vest as follows; if
                Executive is employed on the last day of the calendar quarter
                ("Time Vesting") commencing April 1, 2002, 3,750 shares shall
                vest. A similar amount shall vest each calendar quarter
                thereafter in accordance with the foregoing Time Vesting until
                all such shares have vested.

                (b). 195,000 shares of such Incentive Stock shale vest as
                follows; one-half (97,500 shares) shall vest in two increments;
                fifty (50) percent (48,750 shares) on January 2, 2003 and the
                remaining fifty (50) percent (48,750 shares) on January 2, 2004.
                The remaining amount of Incentive Stock (97,500 shares) shall
                vest upon the Effective Date of this agreement.

                                       2
<PAGE>

                (c). The remaining 3,750 shares (243,750 Incentive Shares
                previously granted less the 240,000 shares vesting as provided
                above) shall be applied in-lieu-of the initial additional
                Incentive Stock grant as provided in the two paragraphs
                immediately following.

        Additional Incentive Stock shall be granted such that there shall always
be 45,000 shares of Incentive Stock outstanding and unvested. As the Incentive
Stock vests in accordance with the Time Vesting a similar increase in unvested
Incentive Stock shall occur so that there shall always be 45,000 shares of
Incentive Stock that is unvested. For example, at the end of the first quarter
Executive shall be vested in 3,750 shares of Incentive Stock and the amount of
outstanding unvested Incentive Stock shall be increased by 3,750 shares to bring
the total unvested amount back up to 45,000 shares. The first of such grant has
been provided for in the preceding paragraph.

        Dividends on the vested and unvested Incentive Stock shall be paid to
Executive on that date when dividends are paid to shareholders:

        5.1. Executive Benefits. During the Term of Employment, Executive shall
be entitled to the following benefits (collectively, the "Executive Benefits"):

             (a) Executive and his eligible dependents shall be included
in-group hospital, surgical, medical and dental benefit plans of the Employers
in accordance with the Employers' policies.

             (b) Except as otherwise provided herein, Executive shall be
entitled to participate in any profit-sharing, stock option, pension or other
plans, benefits or policies generally available to other currently existing
officers of the Employers' on the terms generally applicable to such officers,
if and to the extent that Executive is eligible to participate in accordance
with the provisions of any such plans or benefits, provided, however, that any
such benefits or plans are not duplicative of those provided in this Section 5.
Nothing in this Section 5(b) is intended or shall be construed to require the
Employers to institute any plan or benefits, or to maintain or refrain from
amending or terminating any such existing plan or benefits.

             (c) The Employers shall provide Executive with an automobile
allowance of $500 per month.

        6. Allocation of Costs of Compensation and Benefits. The obligation of
the Employers to pay Executive the compensation and benefits provided under this
Agreement shall be allocated between the Company and the Partnership based upon
the amount of the services provided by Executive to each of them, as they shall
agree from time to time, provided, however, that in the event of a default by
the Employers in paying such compensation and benefits, the Employers shall be
jointly and severally liable to Executive for such compensation and benefits.

        7. Termination.

            (a) The Employers shall have the right, at their election, to
terminate the Term of Employment for "good cause" (defined below). Executive
will have no right to any further Fixed Salary from and after termination for
"good cause," or to accrue any Executive Benefits

                                       3
<PAGE>

thereafter. For purposes of this Agreement, the Employers shall have "good
cause" to terminate Executive's employment hereunder upon a finding by the Board
or the General Partner that Executive has (1) engaged in acts or omissions with
respect to the Employers which constitute intentional misconduct which has a
material adverse effect on the Company or Employers or a commission of a felony;
(2) personally received a benefit in money, property or services from the
Employers or from another person dealing with the Employers (in excess of de
minimis amounts) in known violation of applicable law (which is not returned in
kind or value); (3) breached his confidentiality covenant with the Employers
which has a material adverse effect on the Company or Employers; (4) breached
his fiduciary duty of loyalty to the Employers under applicable law; (5) failed
to satisfactorily perform services for the Employers which have been reasonably
requested of him by the Board or the General Partner and which are consistent
with the terms of the Agreement; (6) failed to achieve the performance goals
reasonably set forth for Executive from time to time; or (7) failed to otherwise
comply with the terms of this Agreement; provided, however, that "good cause"
shall not exist with respect to items (5), (6), and (7) unless and until the
Employers provide Executive with (a) at least sixty (60) days prior written
notice of their intention to terminate his employment for good cause, and (b) a
reasonable opportunity and a reasonable period of time to cure any curable acts
or omissions on which the finding of good cause is based. If Executive cures
such acts or omissions on which the finding of good cause is based during the
sixty (60) day period (or such reasonable time period thereafter provided
Executive is diligently and in good faith pursuing such cure), the Employers
shall not have good cause to terminate Executive's employment hereunder.
Notwithstanding the forgoing, no notice prior to "good cause" termination shall
be required from the Employers to Executive with respect to items (1) through
(4). Should the Employers terminate the Term of Employment in accordance with
the provisions of this Section 7(a) items (1) through (4), the Employers shall
pay to Executive upon the date of termination only his Fixed Salary through the
date of termination and any bonus which Executive has been awarded as of the
date of termination which has not yet been paid to him and any other vested
benefits or rights. Should the Employers terminate the Term of Employment in
accordance with the provisions of this Section 7(a) items (5) through (7), the
Employers shall pay to Executive in cash upon the date of termination his Fixed
Salary through the date of termination which has not yet been paid to him, any
Bonus accrued to date (based on the prior calendar year's Bonus or $75,000 if
within twelve months of the Effective Date of this agreement) any other vested
benefits and rights and an additional twelve (12) months Fixed Salary based upon
the prior twelve (12) months.

            (b) Notwithstanding anything to the contrary contained in this
Agreement, including Section 2, Executive's employment with the Employers is not
for any specified term and may be terminated by the Employers at any time, for
any reason, with or without cause, without liability except with respect to the
payments provided for by this Section 7(b). Accordingly, the Employers shall
have the right, at their election, to terminate the Term of Employment without
"good cause," cause of any kind, or for any reason or no reason whatsoever, by
giving Executive at least ninety (90) days written notice of their intention to
terminate the Term of Employment. Should the Employers terminate the Term of
Employment in accordance with the provisions of this Section 7(b), the Employers
shall pay to Executive, in cash, not later than the effective date of such
termination, a sum equal to any unpaid Fixed Salary accrued to date as well as a
pro rata portion of the prior calendar year's annual bonus (or $75,000 if within
twelve months of the Effective Date of

                                       4
<PAGE>

this agreement) and a sum in cash equivalent to one year of Executive's Fixed
Salary and one year's Bonus (deemed for this purpose to be the prior years bonus
or $75,000 if within twelve months of the Effective Date of this agreement). In
addition, any Restricted Shares (either Incentive Stock, Bonus Stock or
otherwise) then held by Executive shall immediately and fully vest without
condition. All other benefits provided for in this Agreement and compensation
payable under this Agreement shall cease on such date of termination of
employment except to the extent accrued as of such date.

            (c) Executive shall have the right, at his election; to terminate
the Term of Employment for "Employers' Material Breach," which shall consist of
the Employers' failure or refusal to comply with a material term of this
Agreement or for "Good Reason" (defined below). The Employers and Executive
hereby agree that the following shall constitute a "failure or refusal to comply
with a material term of this Agreement": the Employers' failure or refusal to
comply with the provisions of Sections 3, 4, 5, or 6 hereof unless such failure
or refusal to comply arises out of a bona fide dispute. In order to terminate
the Term of Employment, Executive shall be required to give written notice
specifying the claimed breach or Good Reason and the Employers shall have failed
to correct the claimed breach or Good Reason, if the same is curable, or alter
the objectionable pattern of conduct specified in the applicable written notice,
thirty (30) days (ten (10) days in the case of a breach based upon non-payment
of compensation due under this Agreement) or such reasonable time period
thereafter provided the Company is diligently and in good faith pursuing such
cure (however such additional time period shall not be applicable in the case of
non-payment of compensation) after the receipt of the applicable notice. "Good
Reason" shall mean (a) any removal of Executive from the office of Chief
Executive Officer or Chairman of the Board without cause and without Executive's
prior written consent; (b) any material decrease in Executive's authority or
responsibilities as Chief Executive Officer or Chairman of the Board of the
Company without Executive's prior written consent; (c) if Executive is not
elected by the Company's shareholders to serve as a member of the Board; (d) any
attempt to terminate or avoid the indemnity obligations of the Company by the
Company set forth in that certain Indemnity Agreement dated as of August 14,
1997 by and between the Executive and the Company (except as may be provided in
said Indemnity Agreement); or (e) the occurrence of a "Change of Control"(as
defined below). Should Executive terminate the Term of Employment due to
Employers' Material Breach or for Good Reason in accordance with the provisions
of this Section 7(c) the Employers shall pay to Executive, in cash not later
than the effective date of such termination, (a) any unpaid Fixed Salary accrued
to date as well as a pro rata portion of the prior calendar year's annual bonus
(or $75,000 if within twelve months of the Effective Date of this agreement) and
(b) a sum in cash equivalent to one year of Executive's Fixed Salary (or $75,000
if within twelve months of the Effective Date of this agreement) and one year's
Bonus (which shall not be discretionary and shall be fixed in the amount of
$75,000). In addition, any Options and Restricted Stock (either Incentive Stock,
Bonus Stock or otherwise) then held by Executive shall immediately and fully
vest without condition. All other benefits provided for in this Agreement and
compensation payable under this Agreement shall cease on such date of
termination of employment except to the extent accrued as of such date. In the
event the Employers elect to not renew this Agreement as specified in Section 2
above and Executive elects to terminate his employment with the Employers within
60 days of such notice of non-renewal, such termination shall be deemed to be a
termination pursuant to this subparagraph (c) and Executive shall be entitled to
the severance benefits set forth in this subparagraph (c).

        "Change of Control" shall mean an event as a result of which: (1) any
"person" (as such term is used in Sections 13(d) and 14(d) of the Securities and
Exchange Act of 1934, as amended, (the "Exchange Act")) other than Prometheus
Western Retail, LLC or LF Strategic

                                       5
<PAGE>

Realty Investors L.P. or their affiliates (collectively, Lazard Entities") or
any employee benefit plan maintained by the Company, is or becomes the
"beneficial owner" (as defined in Rule 13d-3 under the Exchange Act), except
that a person has the right to acquire, whether such right is exercisable
immediately or only upon the passage of time, directly or indirectly, of more
than 40% of the total voting power of the voting stock of the Company ; (2) the
Company consolidates with or merges with or into another corporation or sells,
assigns, conveys, transfers, leases or otherwise disposes of all or
substantially all of its assets to any person, or any corporation consolidates
with, or merges with or into, the Company, in any such event pursuant to a
transaction in which the outstanding voting stock of the Company is changed into
or exchanged for cash, securities or other property, other than any such
transaction where (A) the outstanding voting stock of the Company is changed
into or exchanged for (x) voting stock of the surviving or transferee
corporation or (y) cash, securities (whether or not including voting stock) or
other property, and (B) the holders of the voting stock of the Company
immediately prior to such transaction own, directly or indirectly, not less than
60% of the voting power of the voting stock of the surviving corporation
immediately after such transaction; or (3) during any period of two consecutive
years, individuals who at the beginning of such period constituted the Board of
the Company (which individuals shall be deemed to include any "new" directors
whose election or appointment by such Board or whose nomination for election by
the stockholders of the Company was approved by a vote of at least 66 2/3% of
the directors then still in office who were either directors at the beginning of
such period or whose election, appointment or nomination was previously so
approved) cease for any reason to constitute a majority of the Board of the
Company then in office; or (4) the Company is liquidated or dissolved or adopts
a plan of liquidation.

            (d) Executive shall have the right, at his election, to terminate
the Term of Employment for any or no reason, other than due to Employers'
Material Breach or for Good Reason, by giving the Employers at least sixty (60)
days written notice of his intention to terminate the Term of Employment. Should
Executive terminate the Term of Employment in accordance with the provisions of
this Section 7(d), the Employers shall pay to Executive only his Fixed Salary
through the date of termination and any bonus which Executive has been awarded
as of the date of termination but which has not yet been paid to him.

            (e) The Term of Employment shall terminate automatically upon
Executive's death or upon Executive's physical or mental disability or infirmity
which, in the opinion of a competent physician selected by the Employers,
renders Executive unable to perform his duties under this Agreement for more
than 90 days in any 180 day period. Upon the termination of the Term of
Employment in accordance with the provisions of this Section 7(e), the Employers
shall pay to Executive (or, in the event of his death, his designated
beneficiary or estate) his Fixed Salary through the date of termination and any
bonus which Executive might have been awarded as of the date of termination
(based upon the prior year's bonus, or $75,000 if within the first year of the
Term of Employment) but which has not yet been paid to him. In addition, the
Employers' shall continue to pay to Executive (or, in the event of his death,
his designated beneficiary or estate) his Fixed Salary (and continue to provide
health insurance benefits to the parties previously insured under Employer's
policy at the Executive's election) for a twelve (12) month period ending on the
first anniversary of Executive's death or termination of employment by reason of
disability.

                                       6
<PAGE>

            (f) Executive hereby acknowledges and agrees that all personal
property and equipment furnished to or prepared by Executive in the course of or
incident to his employment by the Employers belongs to the Employers and shall
be promptly returned to the Employers immediately upon the termination of the
Term of Employment. Upon the termination of the Term of Employment, Executive
shall be deemed to have resigned from all offices and directorships then held
with the Employers or any affiliate of the Employers.

        8. Mitigation. The Employers and Executive agree that Executive shall
have no duty of mitigation. Accordingly, the parties agree that any compensation
earned by Executive after the date of his termination of employment hereunder
shall not be used to offset any severance benefit payable pursuant to Section 7.

        9. Confidential Information. During the Term of Employment and for a one
year period thereafter Executive agrees not to disclose to any person not
employed by the Employers or any affiliated entity and not engaged to render
services to the Employers or any affiliated entity any confidential information
obtained while in the employ of the Employers; provided, however, that the
restrictions contained herein shall not apply to information that (i) is or
becomes generally available to the public other than as a result of disclosure
by Executive in violation of this Agreement, (ii) is or becomes available to
Executive on a non-confidential basis from a source other than the Employers or
their representatives) which is not, to Executive's knowledge, prohibited from
transmitting the information to Executive or his representatives by a
contractual, legal, fiduciary or other obligation, (iii) was independently
acquired or developed by Executive without violating Executive's obligations
under this Agreement, or (iv) is furnished to a third party by the Employers or
any representative of the Employers without similar non-disclosure restrictions
on the third party's use of such information. In addition, this Section 12 shall
not preclude Executive from the use or disclosure of information known generally
to the public or of information not considered confidential by the Employers or
any affiliated entity or from making disclosures required by law or court order
or to carry out Executive's duties hereunder.

        For purposes of this Agreement, the term "confidential information"
shall include all information of any nature and in any form which is owned by
the Employers and which is not publicly available or generally known to persons
engaged in businesses similar to that of the Employers, including, but not
limited to, research techniques; patents and patent applications; inventions and
improvements, whether patentable or not; development projects; computer software
and related documentation and materials; designs, practices, processes, methods,
know-how and other facts related to sales, advertising, promotions, financial
matters, customers, customer lists or customers' purchases of goods or services
from the Employers; industry contracts; and all other secrets and information of
a confidential and proprietary nature.

        10. Insurance. During the term of this Agreement, the Company shall use
its best efforts to maintain, at its expense, officers and directors fiduciary
liability insurance that would cover Executive in an amount of no less than $15
million.

        11. Disputes. Any dispute or controversy arising under, out of, in
connection with or in relation to this Agreement shall, at the election and upon
written demand of any party to this Agreement, be finally determined and settled
by arbitration in Los Angeles, California, in accordance with the Employment
Dispute Resolution rules and procedures of the American

                                       7
<PAGE>

Arbitration Association, and judgment upon the award may be entered in any court
having jurisdiction thereof If any legal action or any arbitration or other
proceeding is brought for the enforcement of this Agreement, or because of an
alleged dispute, breach, default or misrepresentation in connection with any of
the provisions of this Agreement (including the occurrence of an Employers'
Material Breach), the successful or prevailing party shall be entitled to
recover reasonable attorneys' fees and other costs incurred in that action or
proceeding, in addition to any other relief that may be granted; provided,
however, that neither party shall be entitled to recover more than $100,000 from
the other pursuant to this Section 11. Executive acknowledges and understands
that by agreeing to this provision he is waiving his right to a jury trial.
Executive also acknowledges that the provision of this paragraph on the costs of
the arbitration forum have been specifically negotiated and are fair and
reasonable.

        12. Binding on Successors. This Agreement shall be binding upon and
inure to the benefit of the Employers, Executive and their respective
successors, assigns, personal and legal representatives, executors,
administrators, heirs, distributees, devisees, and legatees, as applicable.

        13. Governing Law. This Agreement is being made and executed in and is
intended to be performed in the State of California and shall be governed,
construed, interpreted and enforced in accordance with the substantive laws of
the State of California, without regard to the conflict of laws principles
thereof.

        14. Validity. The invalidity or unenforceability of any provision or
provisions of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement, which shall remain in full force and
effect.

        15. Notices. Any notice, request, claim, demand, document and other
communication hereunder to any party shall be effective upon receipt (or refusal
of receipt) and shall be in writing and delivered personally or sent by telex,
telecopy, or certified or registered mail, postage prepaid, as follows:

            (a) If to the Employers, addressed to the Employers' principal
offices to the attention of General Counsel, at 3500 Sepulveda Blvd., Manhattan
Beach, California 90266;

            (b) If to Executive, to him at the address set forth below under
this signature; or at any other address, as any party shall have specified by
notice in writing to the other parties.

        16. Entire Agreement. As of the Effective Date, the terms of this
Agreement are intended by the parties to be the final expression of their
agreement with respect to the employment of Executive by the Employers and may
not be contradicted by evidence of any prior or contemporaneous agreement. The
Prior Agreement is hereby terminated as of the Effective Date. The parties
further intend that this Agreement shall constitute the complete and exclusive
statement of its terms and that no extrinsic evidence whatsoever may be
introduced in any judicial, administrative or other legal proceeding to vary the
terms of this Agreement.

        17. Amendments; Waivers. This Agreement may not be modified, amended, or
terminated except by an instrument in writing and signed by Executive and the
Employers.

                                       8
<PAGE>

        18. No Effect on Other Contractual Rights. The provisions of this
Agreement, and any other payment provided for hereunder shall not in any way
diminish Executive's rights under any employee benefit plan, program or
arrangement of the Employers to which he may be entitled as an employee of the
Employers.

        IN WITNESS WHEREOF, the parties have executed this Agreement as of the
data and year first above written.

                                         EXECUTIVE:

                                         EDWARD D. FOX

                                         -------------------------------------
                                         Street Address
                                         City
                                         State
                                         Zip

                                         THE COMPANY:

                                         CENTER TRUST, INC.,
                                         a Maryland corporation

                                         By:
                                            ----------------------------------
                                         Its:
                                             ---------------------------------

                                         THE PARTNERSHIP:

                                         CT OPERATING PARTNERSHIP, L.P.,
                                         a California limited partnership

                                         By:  CENTER TRUST, INC.,
                                              a Maryland corporation

                                              By:
                                                 -----------------------------
                                                 Its:
                                                     -------------------------

                                       9

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