Document:

LETTER OF AGREEMENT
LONG TERM ASSIGNMENT

April 1, 2002

Jacob (Jacky) Ronnel
Hotel Outsource Services, Inc.
One Embarcadero Center, Suite 500
San Francisco, CA 94111

Dear Jacky,

We have the  pleasure  of  confirming  your  assignment  as the Chief  Executive
Officer  (C.E.O.) of Hotel Outsource  Services,  Inc (HOS).  The assignment will
commence on April 2002. The  assignment  will last  approximately  three to five
years.  This time frame may be adjusted,  if necessary,  in accordance with your
and HOS needs. Although HOS's business is in the USA, at this point there are no
plans for your relocation.. You will be traveling to HOS in the USA as needed.

Your job title  will be Chief  Executive  Officer.  In this  capacity,  you will
report to the Board of Directors of HOS.

COMPENSATION AND BENEFITS

Compensation
As you are not relocating, or until such time, you will not be on HOS's payroll,
instead you will be issuing Invoices for your services to HOS. As of April 2002,
on a  monthly  basis,  you will be  issuing  an  Invoice  to HOS for  Management
Services.  Your base yearly compensation will be $80,000 per year, or $6,667 per
month (plus VAT if applies). However, due to the fact that HOS is a start-up and
has a limited budget at this stage,  following your consent,  your basic monthly
compensation  will be 50%,  or $3,333  per month  (plus  VAT if  applies),  till
December 31, 2002.  From January 2003, your basic monthly  compensation  will be
$6,667 per month.  After that, it is understood  that the decisions with regards
to timing and amount of  increases  are  exclusively  taken by HOS.  You will be
entitled to an annual bonus based on  performance  and number of  installed  and
operated  units  (the  appropriate  formula  will be  provided  by the  Board of
Directors of HOS).

Social Benefits:
As you are not  relocating,  or until such  time,  you will not be  entitled  to
social benefits.

ON-GOING ALLOWANCES AND REIMBURSEMENTS
You will be  entitled to certain  allowances  or  reimbursements  to cover costs
incurred as a result of your assignment.

<PAGE>

TERMINATION OF EMPLOYMENT:
Lay Off: At any time during the  agreement,  HOS, Inc may terminate the contract
with a prior  notice  of 90 days.  During  the  notice  period,  you will  still
continue working and performing services for the company. In addition,  you will
be entitled,  after the notice  period,  to a one month salary.  Termination  at
Will:  A notice  of 90 days  should  be given to the  company.  You will also be
entitled to a one month salary.

Any dispute arising during your assignment or at the end of it in respect of the
interpretation,  execution or termination  of the assignment  will be settled in
accordance with the laws, regulations and customs in the US.

If you are in agreement  with the  conditions of your  assignment as outlined in
this letter, please sign this letter.

APPROVAL & ACCEPTANCE

HOTEL OUTSOURCE SERVICES, INC            JACOB RONNEL

------------------------------           ------------------------------------

/s/ Ariel Almog    April 1, 2002         /s/ Jacob Ronnel     April 1, 2002
--------------------------------         ------------------------------------
By                      Date                                         Date<PAGE>

                                   MEMORANDUM
             is made and entered into as of this 22 day of June 2003

1.       At the first board meeting after registering HOMI's shares on the OTCBB
         Stock  Exchange,  HOMI  will  resolve  to  nominate  Mr.  Rodia  Mihali
         ("Mihali") as a director of HOMI.

2.

         2.1      Mihali,  as a director,  will participate in the ESOP plan and
                  will be entitled to 1,000,000 HOMI options to be exercised for
                  a fix  price  of  $0.5  per an  option.  The  options  will be
                  allocated to Mihali on a monthly basis, 40,000 each month over
                  a period of 25 months.

         2.2      Mihali on his own discretion  will be entitled to exercise the
                  options  from time to time but not later than 30 days from the
                  last  allocation  of 40,000  options  on the first of the 25th
                  month  (will not  exceed  more  than 26  months  from the date
                  Mihali will be nominated as director in HOMI).

         2.3      Notwithstanding,  should HOMI decide to raise money through an
                  IPO or to raise at least  $2,500,000  in a  Private  Placement
                  Mihali will be allocated all  remaining  options 30 days prior
                  to  such  event  and  will  be  obliged  to  exercise  all his
                  outstanding options not later than within 7 business days from
                  the IPO or Private  Placement.  All  unexercised  options will
                  deemed to be void.

         2.4      Should  Mahali  resign from being a director  his own and free
                  will,  from the date of resignation he will not be entitled to
                  further  monthly  allocation  of  options  and  will  have  to
                  exercise  all  remaining  options  that he holds to that  date
                  which had not been exercised yet.

         2.5      Should HOMI decide to cease  Mihali's role as director in HOMI
                  Mihali will receive all remaining  options  within 30 days and
                  will be entitled to exercise all his remaining  options as per
                  the original schedule of 25 months.

3.       HOMI,  through its directors has notified Mihali that it plans to raise
         money  through  an IPO or a  Private  Placement,  which it  intends  to
         perform within 18 months.

<PAGE>

4.       HOMI's  directors,  by signing  this  document,  undertake to bring all
         issues  mentioned in this memorandum at the first board meeting of HOMI
         to be held  after its shares are being  registered  on the OTCBB  Stock
         Exchange. They also undertake to vote for such decisions.

/S/ Ariel Almog                                 /S/ Jacob Ronnel
-------------------------                       ----------------------------

Agreed and Accepted

/S/ Rodia Mihali
--------------------------
Mr. Rodia Mihali<PAGE>

                                                                    Exhibit 10.6

                          February 15, 2003 ADDENDUM TO
                   WAREHOUSING LINE OF CREDIT PROMISSORY NOTE
                             Dated February 20, 2002

         On February 20, 2002, Temporary Financial Services, Inc. ("TFS") and
Genesis Financial, Inc. ("GENESIS") entered into a Warehousing Line of Credit
Promissory Note and related loan documents (collectively the "Line of Credit")
for a $2,000,000 secured line of credit. TFS was the lender and GENESIS was the
borrower under these documents. The Line was intended to provide GENESIS with
funds for the purchase of seller financed real estate contracts. The Warehousing
Line of Credit Promissory Note is due by its terms on February 15, 2003.

         In January, 2003, TFS and GENESIS agreed that an extension of the line
of credit would be needed as GENESIS was not yet in a position to obtain funding
from other sources or through other means. TFS agreed to extend the line of
credit through August 15, 2003 in order to allow TFS and GENESIS to negotiate
new terms for the Line of Credit. On February 15, 2003, TFS and GENESIS entered
into this Addendum to the Warehousing Line of Credit Agreement.

         This Addendum changes the due date for the Warehousing Line of Credit
Promissory Note to August 15, 2003. All other terms of the Line of Credit remain
in full force and effect, including the "Advance and Repayment Procedures," the
"Financial Covenants and Reporting Obligations," the "Security Agreement," and
the "Guaranty."

         TFS and GENESIS agree to negotiate in good faith for an extension of
the Line of Credit and agree to execute an appropriate agreement reflecting the
additional extension as soon as the terms are agreed upon, but in no event later
than August 15, 2003.

         Dated this 15th day of February, 2003.

GENESIS FINANCIAL, INC.                        ATTEST:

/s/ Michael A. Kirk                            /s/ Douglas B. Durham
Michael A. Kirk, President                     Douglas B. Durham, Chairman

Accepted this 15th day of February, 2003 in Spokane, Washington.

Temporary Financial Services, Inc.             Attest:

/s/ John R. Coghlan                            /s/ Brad E. Herr
John R. Coghlan, President                     Brad E. Herr, Secretary<PAGE>

                                                                    Exhibit 10.7

                            APRIL 1, 2003 ADDENDUM TO
                   WAREHOUSING LINE OF CREDIT PROMISSORY NOTE
              Dated February 20, 2002 as amended February 15, 2003

         On February 20, 2002, Temporary Financial Services, Inc. ("TFS") and
Genesis Financial, Inc. ("GENESIS") entered into a Warehousing Line of Credit
Promissory Note and related loan documents (collectively the "Line of Credit")
for a $2,000,000 secured line of credit. TFS was the lender and GENESIS was the
borrower under these documents. The Line was intended to provide GENESIS with
funds for the purchase of seller financed real estate contracts. The Warehousing
Line of Credit Promissory Note was due by its terms on February 15, 2003. On
February 15, 2003, TFS and GENESIS entered into an agreement to extend the line
of credit through August 15, 2003 in order to allow TFS and GENESIS to negotiate
new terms for the Line of Credit.

         After further discussions and negotiations, TFS and Genesis have agreed
to new terms on the Line of Credit, as follows:

         1.       The due date of the Warehousing Line of Credit Promissory Note
                  is extended to March 31, 2004.

         2.       The interest rate set forth in the Warehousing Line of Credit
                  Promissory Note is changed to 8% per annum.

         3.       In addition to the interest rate charged for the extension
                  period, GENESIS will also pay a Commitment Fee for the
                  Warehousing Line of Credit Promissory Note extension in the
                  amount of $20,000 payable $5,000 in cash and $15,000 in
                  Genesis Common Stock at the rate of $1.00 per share or 15,000
                  shares in the aggregate. This additional Commitment Fee
                  relates to the extension period.

         This April 1, 2003 Addendum supercedes and replaces the Addendum dated
February 15, 2003. Except as noted in Paragraphs 1 through 3, above, all other
terms of the Line of Credit remain in full force and effect, including the terms
and conditions described in "Advance and Repayment Procedures," the "Financial
Covenants and Reporting Obligations," the "Security Agreement," and the
"Guaranty."

Dated this 1st day of April, 2003.

GENESIS FINANCIAL, INC.                            ATTEST:

/s/ Michael A. Kirk                                /s/ Douglas B. Durham
Michael A. Kirk, President                         Douglas B. Durham, Chairman

Accepted this 1st day of April, 2003 in
 Spokane, Washington.

Temporary Financial Services, Inc.                 Attest:

/s/ John R. Coghlan                                /s/ Brad E. Herr
John R. Coghlan, President                         Brad E. Herr, Secretary

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