THE Ftrrz-CAittion• October 27, 2010 Ms. Judi Nagelberg Island Meetings & Incentives RE: ASU Origins Project Science Advisory Committee Meeting Dear Judi, The Hotel understands that the J Epstein Virgin Islands Foundation has made a decision to cancel the ASU Origins Project Science Advisory Committee Meeting including guest rooms and events scheduled for November 11-15, 2010. GROUP ROOM AND RATE COMMITMENT The Hotel agrees to a cancellation penalty of 50% of guest room revenue and food and beverage revenue with the understanding that ASU Origins Project Science Advisory Committee Meeting reschedules this program to dates between January — June, 2011, and J. Epstein Virgin Islands Foundation, Inc. agrees that it will be responsible for contracting a minimum of 45 room nights and $6,143.54 in food and beverage revenue. In the event this program is not scheduled as outlined above, the full penalty of 100% of guest room revenue and food and beverage revenue will apply. ACCEPTANCE Please confirm your agreement by signing and returning this letter with dates for rescheduling this program by Monday, November 1, 2010. Upon receipt of the signed Addendum, the Hotel will accept this as your acknowledgement that all details are correct and in order as outlined. The Hotel will return a countersigned copy of the Addendum to Client. Signing of this letter will serve as a Contract to all published Ritz-Carlton policies, procedures, and cancellation clauses. Hotel and the Client have agreed to and have executed this Contract by their authorized representatives as of the dates indicated below. SIGNATURES Approved and authorized by J Epstein Virgin Approved and authorized by Hotel Islands Foundation Signature Carol Cameron, Catering Sales Manager Date Date Initials of Client's Authorized Representative Carol Cameron Page 1 EFTA00724343