To Whom It May Concern:

The undersigned employees will be relieved of their contractual obligations on June 25, 1994. At such time, the employees will be compensated for hours taught during the month of June. In addition, the employees will also be given the full amount of income retention plus all accrued interest to that date. On or before June 24, 1994 at 9:00 p.m., full payment shall be rendered to each of the undersigned employees in cash.

However, given the uncertainty of the political climate on the Korean peninsula, we feel it is also necessary to safeguard against any further increases in tension between North Korea and the world community that may occur before that time. Therefore, we wish to define the word "emergency," as stated in article 3.3 of the Joong Ang Foreign Language Institute and New Joong Ang Foreign Language Institute Employment Agreements. An "emergency" shall include the unilateral or multilateral imposition of economic sanctions against North Korea, or the immediate threat of such action. In this event, all of the undersigned teachers shall be relieved of their contractual obligations and shall be compensated for all unpaid hours to that date, and shall also be refunded the full 20% income retention plus all accrued interest to that date. In this event, all compensation shall be made upon demand in cash.

All previous agreements regarding remittance of the 20% income retention are hereby superseded.

X_____________________________

Kim Tok Han

X_______________________________

Aaron J. Parsons