Letter of Intent

La Residence Hotel &

Spa

LETTER OF INTENT

May 23rd , 2006

Mr. Do Van Chi

Phuoc My, Son Tra District
Danang City, Vietnam

Dear Mr. Chi,

I am pleased to advise you that La Residence Hotel and Spa (hereafter

referred to as THE EMPLOYER) has selected you for the position of:

Executive Sous Chef

Please find below the general conditions of your employment which will
be reiterated on the local contract which will be signed between
yourself (hereafter referred to as THE EMPLOYEE) and THE EMPLOYER.

The above mentioned local contract will be the basis for your working
relationship with THE EMPLOYER and will replace this Letter Of Intent.

Your assignment is contingent upon the approval by the local

authorities of your necessary work permit to cover the full period of
your posting and the approval by the above mentioned EMPLOYER

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 Letter of Intent
La Residence Hotel &
Spa

1. Starting Date

2. Point Of Hire

Vietnam

3. Place Of Assignment

Hôtel de la cite Impérial

Joint Venture Company
Hue City
Vietnam

4. Position

Executive Sous Chef

5. Marital Status

Single

6. Salary

THE EMPLOYEE will be entitled to a basic net salary of Six Millions

Three Hundred Thousand VND (VND 6’300’000) per month and a
monthly allowance of Seven Hundreds and Eighty Five Thousands
VND (VND 785'000).

7. Bonus
Annual bonus equivalent to one (1) month basic salary will be payable
into two times: 50% at the Lunar New Year (Tet festival) & 50% at the
National Day (2nd September) for a complete year of service and on
pro-rata basis for service of less than a full period. The annual bonus
only paid to employee who are still working on these days.

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 Letter of Intent
La Residence Hotel &
Spa
8. Tax

THE EMPLOYER will be responsible for the payment of income tax .

9. Medical Insurance

THE EMPLOYEE will be covered by the Hotels insurance according to

the Vietnamese law.

10. Housing Allowance

THE EMPLOYER will provide THE EMPLOYEE lodging in Hue City.

11. Duty Meals

Duty meals will be provided by the hotel at the Staff Canteen.

12. Laundry and dry cleaning

Your uniform only, will be laundered at the Company’s expense.

13. Working Days, Public Holidays and Annual Leave

According to the Vietnamese Law
- 5.50 days working per week
- 8.00 days Public holidays
+The New Year Day : one (01) day
+ The Lunar New Year Festival (Tet) : four (4) days
+ Victory Day : one (01) day
+ International Labour Day : one (01) day
+ National Day : one (01) day
- Annual leave of sixteen (16) working days

14. Duration

One (1) to three (3) years according to the Vietnamese Labor Code
with possibilities of prolongation in accordance between both parties.

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 Letter of Intent
La Residence Hotel &
Spa
15. Probation period

Two (2) months

16. Termination Notice

Termination notice by either party shall be of three-month notice in

advance or salary payment in lieu thereof.

17. Confidentiality

You are not allowed to share any information, business or other

confidential issues about the La Residence Hotel and Spa or remove
any databases or client information belonging to the La Residence
Hotel and Spa to any party outside the organization during or after
your employment with La Residence Hotel and Spa. Breach of this
could lead to immediate termination and legal consequences.

Please sign your name and initialise each page to indicate

your agreement to the conditions outlined herein and return
one (1) signed copy within three (3) days

THE EMPLOYEE APPROVED BY THE

----------------------------------------- ---------------------------------------------
Do Van Chi Dang Thi Anh Thu
I accept that the above First Deputy General Director
mentioned conditions will form

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 Letter of Intent
La Residence Hotel &
Spa
the basis of my contract

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