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March 26, 2010

Updates:

Meeting with Ayala group (Kim & Honey) Mike , Myrna & Honey
Today in Glorietta Office.

Clarifications made with the Ayala Group:

1. LIPO Charges- Termed as Light & Power Charges or Electricity Charges


October 1, 211.98
November 3,282.82
December 31,215.57

(Requested Myrna if we can charge the October to November to


The Contractors.

2. Glass Panel-104,370.49

This is the 6 months coverage billing by Ayala starting October to


March. Vat is not yet included.

Total amount is 2,087,409.99 Plus VAT divide by 120 Months

3. Water Charges- We asked the breakdown of the said billing so that we can charge
the contractors accordingly.

4. ADS & Promo –Annual Billing is Php 12,000 plus VAT

- The amount indicated in the billing statement is the VAT ONLY

5. Construction Board up- The above items should have VAT.

6. BTU—Under the Term Sheet we will carry the cost. BTU is the devised used to
monitor the Coldness of the Store as clarified by KIM.

(Amount of BTU - Php 166,000. This means that this will be an additional
Development Cost for Pig-out)

7. We asked Honey if I can waive the Interest Expense. She told us to write to
Sharmaine Bauzon- Senior Manager of Ayala mall Group/

8. Construction Bond & Deposit - There is a difference in the amount. Honey told us
that when we signed for the Term Sheet there is a difference on the Area Per
square meter. The figure in the Term Sheet is 127.18 sq. meters while the actual is
128.65. This resulted to Php 2940 difference.

9. Electrical Billing will be every 15th of the Month . Water is every 30th .

10. CUSA- There is already a charge of 42.50 upon turnover. When we open last
December Ayala already charged us the full amount of Php 85.

11. Myrna will submit to you a summary of what is to be charged to the Contractors,
Development, and Operations so that Choco will know what to include in the P &L.

TGI Friday’s- Meeting with Vince, Cristy, Jona , Daisy & me on April 9. I asked for a
meeting so that all activities will be synchronized. This is base from the Training Road
Show last conference.

Krazy Garlic- I’m asking permission if we can involve Ana, Bianca & Marlon for
training so that they can have the ownership and bonding between their own employees
and management. Yesterday, we already wrote a letter to Bacardi. According to
Aurea Aguilar, they will forward it to their Brand Management. ( See Attached letter)
I will adjust the Training Calendar due to the delay of opening . ( Please see attached for
approval) Bianca will report again to Friday’s Quad while Marlon will report in High
Street. I already coordinated everything to Vincent, Debra & JC.

Highlights for KG Opening:

May 7 Orientation
June 4-June 15 OJT 15 days with Day-Offs
June 7-9 PUNCH
June 10-11-12 Mock 3 days
June 13 Day-ff
June 14 VIP Night
June 15 Prep
June 16

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