L.S.J., LLC 6100 Red Hook Quarter Suite B-3 St Thomas, USVI 00802 340-775-8100 FOR SETTLEMENT PURPOSES ONLY January _,2012 Mr. Rex Wolterman Mr. Bart Wolterman Virgin Islands Gunite Pools 25 America-Anchorage Condos St. Thomas, USVI 00802 Dear Messrs. Wolterman This is to confirm and constitute the agreement by and between Virgin Islands Gunite Pools ("VIGP") and L.S.J., LLC ("LSJ") regarding the installation of tile and related work to resolve disputes between the parties about the existing pool on the main compound at Little St. James Island (the "Main Pool"), the completion of work to resolve issues between the parties about the pool at the Flagpole area located on Little St James Island (the "Flagpole Pool"), both of which have been constructed by VIGP, the completion of work to address issues between the parties relating to the operation and improper location of the heaters for the Main Pool and the Flagpole Pool, and the completion of work to correct of any other currently known warranty items in respect of the Main Pool and/or the Flagpole Pool (collectively, the "Work"). With respect to the Work, VIGP and LSJ have agreed as follows: 1. VIGP will perform the Work, details of which are provided in the Scope of Work attached as Scheduled A hereto (the "Scope of Work"), including, without limitation, by providing all labor, equipment and tools necessary to perform and complete the Work in accordance with the provisions contained in this letter agreement 2. VIGP will supply all materials necessary to perform and complete the Work in accordance with the provisions contained in this letter agreement, except that LSJ shall provide at its cost the following materials to enable VIGP to perform and complete the tiling of the Main Pool: • 100sq. ft. Waterline tile EFTA00583834