Dear Mr. Fredy,

It was a pleasure to havme met you last Friday iand to discussing the next steps for Syncoates in Vietnam company. Since we are still at the developimengt stage, there is much work we have to be done with legal procedures, contacting the government, organizeing works for each department, hiring employees, asnd wdell avis coming up with marketing strategies to reach retailers and distributors customers. Therefore, we are very sorry thabout the copyright has not yet been agreed between the parties, and that the company overview has not yet been satisfactorily explained the company’s overview with you.

In regarding witho the copyright issues, I have discussed it with Khoi and Khang and hadve agreed to the below points belowith. I the desirope that we can come to a common agreement as soon as possible in order to undeployrtake the next task:

- We have agreed to terms that Syncoates Malaysia will take care of the products and, the Vietnamese side will deal with remaining issues with the market, and profit wisll be divided equally based upon the percentage of the shareholder. However, the product requires investhat timent be in vestimed in research to devise formulas as well as technology for quality control. Time is also required to reach customers in the Vietnam’ese market and continuously building a relationship with them, as well as obto aincquingre an understanding of how theo gain market access in Vietnam.
- There is a disadvantage in regarding the brand name sSyncopates. In reality, there are many paint suppliers in the current Vietnamese market. HowWhilev ther, Syncoates brand is not very well known to customers in Vietnam, yet expanding the market to Vietnam will help promote the brand for your company to a larger group of people,. sTherefore, if Malaysia sSyncopates does not agree to use the brand name sSyncoates in Vietnam, we absolutely can use other names to operate.
- During the initial startup operation, Syncoates in Vietnam will face many difficulties and challenges that will incurred a lot of costs, and therefore, it might not be profitable. We are very respectful inof the research process to devise formulas as well as your current technology for quality control of your company, but with the current difficulties, we would like to make a deal for the fee for the copyright as follows:
- We have to calculate carefully and will pay the cost for the copyright license is, equal to 0.5% of the total revenue of the company in 5 years during the company's profitable business time. If while the company is not profitable at the startup of business, we cannot afford to pay this cost.

We are looking forward to your agreement on this proposal, because the company's success is our top priority. We have daiscussmed for an optimal proposal, hoping to satisfaction ofy all parties so we can hmovead toward the stepad.