May 10, 2012 JOSE BAUTISTA Joe & The Pirates Restaurant & Bar Operated by: J&P

Cantina Inc. Dear Mr. Bautista, Relative to the counter-offer of your corporation as regards the lease of space for a branch site at ground floor located at Simeon Aguilar St., Passi City, Iloilo, please find a counter proposal of the Fronthub Venture, Inc. DESCRIPTION Floor Area (Building) Lease Term Monthly Rental CUSA Taxes: VAT (12%) W/Tax (5%) DST Escalation Advance Rent Security deposit Fit-out/Construction Period (Rent Free) Pre-Termination MBTC OFFER 170 sq. m. 10 years, renewable P59,500.00 or P350.00 sq. m. P8,500.00 or P50.00/sq. m. MBTC Lessors Account Lessors Account Same Three (3) months, applicable on the first 3 months of lease Two (2) months, refundable 60 days (Standard period of branch renovation) Lessee may terminate the contract prior to the expiry date subject to 60-day prior written notice without penalty Lessees Account Allow Metrobank to install standard signage: Vertical/Horizontal visible from the main road for free At least five (5) parking lots for free FVI COMMENT Same Same P75,000.00 441.18/sq. m. (Discounted Rate) For clarification Same For clarification same Same Same Same Same Lessee may terminate the contract prior to the expiry date subject to 60-day prior written notice with penalty Same same

Air-conditioning Signage

Parking Slots

At least five (4) parking lots for free

Banks other requirements as follows: GenSet Lessee will install genset if in case the Lessor would not be able to provide a 100% power back up. Floor area for the genset (approximately 9 sq. m.) shall be for free or to be deducted from offered lease area of 170 sq. m. Electrical Power Lessee will directly apply to electric company for electricity Water Supply Lessee will directly apply for water utility Available Stub outs in a. Electrical the Building b. Lease Line wiring c. Sanitary plumbing d. Sprinkle provision e. Provision for comfort room Transformer For the account of Lessor

Energy consumption shall be computed in current market price.

Same Same Same

Chargeable against Lessee account

Should you find the above mentioned stipulations acceptable, a formal Lease contract shall be signed between Fronthub Venture, Inc. and to Metrobank in a weeks time in order not to delay the construction of the building.

Thank you very much.

RAYMUNDO A. LAPATING, PH.D., CESOV Fronthub Venture, Inc. (FVI)