PARTNERSHIP AGREEMENT

KNOW ALL MEN BY THESE PRESENTS: This Partnership Agreement is execute this !insert ate" #$ an #et%een: !insert name &' c&rp&rati&n"( a c&rp&rati&n u)$ &rgani*e an existing in acc&r ance %ith )a%s &' the Repu#)ic &' the Phi)ippines( %ith principa) &''ices at !state a ress"( represente in this act #$ its Presi ent( !state name &' representati+e"( hereina'ter re'erre t& as the ,-RST PARTY. / an 0 !insert name &' c&rp&rati&n"( a c&rp&rati&n u)$ &rgani*e an existing in acc&r ance %ith )a%s &' the Repu#)ic &' the Phi)ippines( %ith principa) &''ices at !state a ress"( represente in this act #$ its Presi ent( !state name &' representati+e"( hereina'ter re'erre t& as the SE1ON2 PARTY3 /W-TNESSETH/ WHEREAS( the Parties ha+e agree t& ma4e c&ntri#uti&ns t& a c&mm&n 'un '&r the purp&se &' ac5uiring( h&) ing an &perating a !state nature &' #usiness" hereina'ter re'erre t& as the #usiness interest3 WHEREAS, the Parties ha+e agree ( in pursuit &' the #usiness interest( t& enter int& a Partnership pursuant t& the Partnership La%s &' the Phi)ippines3 NOW THERE,ORE( the parties agree as '&))&%s: 63 Name and Business

The parties here#$ '&rm a partnership un er the name &' !state name &' partnership" t& c&n uct the #usiness interest3 The principa) &''ice &' the #usiness sha)) #e in !state a ress &' the &''ice"3 73 Term

The partnership sha)) c&mmence &n !state ate &' c&mmencement" an sha)) c&ntinue t& exist unti) terminate as herein pr&+i e 3 83 1&ntri#uti&ns

The capita) &' the partnership sha)) #e c&ntri#ute #$ the partners as '&))&%s: Name Nature &' 1&ntri#uti&n !1ash( Pr&pert$( Ser+ice( etc3" Share 1&ntri#uti&n

A B 1 T&ta)

699:

xxx

A separate capita) acc&unt sha)) #e maintaine '&r each partner3 Neither partner sha)) %ith ra% an$ part &' his capita) acc&unt3 ;p&n the eman &' either partner( the capita) acc&unts &' the partners sha)) #e maintaine at a)) times in the pr&p&rti&ns in %hich the partners share in the pr&'its an )&sses &' the partnership3 <3 Pr&'it an L&ss

B&th the net pr&'its an net )&sses &' the partnership sha)) #e i+i e an #&rne e5ua))$ #et%een the partners3 A separate inc&me acc&unt sha)) #e maintaine '&r each partner3 Partnership pr&'its an )&sses sha)) #e charge &r cre ite t& the separate inc&me acc&unt &' each partner3 -' a partner has n& cre it #a)ance in his inc&me acc&unt( )&sses sha)) #e charge t& his capita) acc&unt3 =3 Sa)aries an 2ra%ings

N& partner sha)) recei+e an$ sa)ar$ '&r ser+ices ren ere t& the partnership3 Each partner ma$( 'r&m time t& time( %ith ra% the cre it #a)ance in his inc&me acc&unt3 A)) &ther expenses incurre #$ the parties in the pursuit &' the #usiness interest sha)) #e acc&unte '&r in acc&r ance %ith p&)icies t& #e mutua))$ set #$ the parties in acc&r ance %ith genera))$ accepte acc&unting princip)es3 >3 -nterest

N& interest sha)) #e pai &n the initia) c&ntri#uti&ns t& the capita) &' the partnership &r &n an$ su#se5uent c&ntri#uti&ns &' capita)3 ?3 Management

The partners sha)) ha+e e5ua) rights in the management &' the partnership #usiness( an each partner sha)) e+&te his entire time t& the c&n uct &' the #usiness3 A managing partner ma$ #e esignate #$ the parties su#@ect t& the exigencies &' the partnership3 With&ut the c&nsent &' the &ther partners( n& partner sha)) &n #eha)' &' the partnership #&rr&% &r )en m&ne$( &r ma4e( e)i+er( &r accept an$ c&mmercia) paper( &r execute an$ m&rtgage( securit$ agreement( #&n ( &r )ease( &r purchase &r c&ntract t& purchase( &r se)) &r c&ntract t& se)) an$ pr&pert$ '&r &r &' the partnership &ther than the t$pe &' pr&pert$ #&ught an s&) in the regu)ar c&urse &' its #usiness3 A3 Ban4ing

A)) 'un s &' the partnership sha)) #e ep&site in its name in such chec4ing acc&unt &r acc&unts as sha)) #e esignate #$ the partners3 A)) %ith ra%a)s there'r&m are t& #e ma e up&n chec4s signe #$ at )east t%& partners3 B3 B&&4s

The partnership #&&4s sha)) #e maintaine at the principa) &''ice &' the partnership( an each partner sha)) at a)) times ha+e access theret&3 The #&&4s sha)) #e 4ept &n a 'isca) $ear #asis in acc&r ance %ith genera))$ accepte acc&unting princip)es an sha)) #e c)&se an #a)ance at the en &' each 'isca) $ear3 An au it sha)) #e ma e as &' the c)&sing ate3 693 6936 Terminati&n The partnership ma$ #e iss&)+e at an$ time #$ agreement &' the partners( in %hich e+ent the partners sha)) pr&cee %ith reas&na#)e pr&mptness t& )i5ui ate the #usiness &' the partnership3 The partnership name sha)) #e s&) %ith the &ther assets &' the #usiness3 The assets &' the partnership #usiness sha)) #e use an istri#ute in the '&))&%ing &r er: !a" t& pa$ &r pr&+i e '&r the pa$ment &' a)) partnership )ia#i)ities an )i5ui ating expenses an &#)igati&ns. !#" t& e5ua)i*e the inc&me acc&unts &' the partners. !c" t& ischarge the #a)ance &' the inc&me acc&unts &' the partners. ! " t& e5ua)i*e the capita) acc&unts &' the partners. an !e" t& ischarge the #a)ance &' the capita) acc&unts &' the partners3 2eath ;p&n the eath &' a partner( the sur+i+ing partnerCs sha)) ha+e the right either t& purchase the interest &' the ece ent in the partnership &r t& terminate an )i5ui ate the partnership #usiness3 -' the sur+i+ing partner e)ects t& purchase the ece entDs interest( he sha)) ser+e n&tice in %riting &' such e)ecti&n( %ithin three m&nths a'ter the eath &' the ece ent( up&n the execut&r &r a ministrat&r &' the ece ent( &r( i' at the time &' such e)ecti&n n& )ega) representati+e has #een app&inte ( up&n an$ &ne &' the 4n&%n )ega) heirs &' the ece ent at the )ast/ 4n&%n a ress &' such heir3 -' the sur+i+ing partnerCs e)ectCs t& purchase the interest &' the ece ent in the partnership( the purchase price sha)) #e e5ua) t& the ece entDs capita) acc&unt as at the ate &' his eath p)us the ece entDs inc&me acc&unt as at the en &' the pri&r 'isca) $ear( increase #$ his share &' partnership pr&'its &r ecrease #$ his share &' partnership )&sses '&r the peri& 'r&m the #eginning &' the 'isca) $ear in %hich his eath &ccurre unti) the en &' the ca)en ar m&nth in %hich his eath &ccurre ( an ecrease #$ %ith ra%a)s charge t& his inc&me acc&unt uring such peri& 3 N& a))&%ance sha)) #e ma e '&r g&& %i))( tra e name( patents( &r &ther intangi#)e assets( except as th&se assets ha+e #een re')ecte &n the partnership #&&4s imme iate)$ pri&r t& the ece entDs eath. #ut the sur+i+&r sha)) ne+erthe)ess #e entit)e t& use the tra e name &' the partnership3

6937

663 6636

6637

6638

67.

Arbitration and Attorneys Fees

The Parties agree that an$ ispute( c)aim( &r c&ntr&+ers$ c&ncerning this Agreement &r the terminati&n &' this Agreement( &r an$ ispute( c)aim &r c&ntr&+ers$ arising &ut &' &r re)ating t& an$ interpretati&n( c&nstructi&n( per'&rmance &r #reach &' this Agreement( sha)) #e sett)e in g&& 'aith #$ the parties3 -' n& agreement is reache ( the Parties sha)) re'er the same t& ar#itrati&n in acc&r ance %ith Phi)ippine ar#itrati&n ru)es then in e''ect3 The ar#itrat&r ma$ grant in@uncti&ns &r &ther re)ie' in such ispute &r c&ntr&+ers$3 The ecisi&n &' the ar#itrat&r sha)) #e 'ina)( c&nc)usi+e an #in ing &n the parties t& the ar#itrati&n3 Eu gment ma$ #e entere &n the ar#itrat&rFs ecisi&n in an$ c&urt ha+ing @uris icti&n3 The Parties %i)) pa$ the c&sts an expenses &' such ar#itrati&n in such pr&p&rti&ns as the ar#itrat&r sha)) eci e( an each part$ sha)) separate)$ pa$ its &%n c&unse) 'ees an expenses3 683 ,ina) Agreement3

This Agreement terminates an superse es a)) pri&r un erstan ings &r agreements &n the su#@ect matter here&'3 This Agreement ma$ #e m& i'ie &n)$ #$ a 'urther %riting that is u)$ execute #$ #&th parties3 6<3 Se+era#i)it$3

-' an$ term &' this Agreement is he) #$ a c&urt &' c&mpetent @uris icti&n t& #e in+a)i &r unen'&rcea#)e( then this Agreement( inc)u ing a)) &' the remaining terms( %i)) remain in 'u)) '&rce an e''ect as i' such in+a)i &r unen'&rcea#)e term ha ne+er #een inc)u e 3 6=3 N& -mp)ie Wai+er3

Either part$Ds 'ai)ure t& insist in an$ &ne &r m&re instances up&n strict per'&rmance #$ the &ther part$ &' an$ &' the terms &' this Agreement sha)) n&t #e c&nstrue as a %ai+er &' an$ c&ntinuing &r su#se5uent 'ai)ure t& per'&rm &r e)a$ in per'&rmance &' an$ term here&'3

-N W-TNESS WHEREO,( the parties ha+e execute this Agreement &n the ate an p)ace a#&+e speci'ie 3 ,-RST PARTY SE1ON2 PARTY S-GNE2 -N THE PRESEN1E O,: HHHHHHHHHHHHHHHH A1KNOWLE2GMENT REP;BL-1 O, THE PH-L-PP-NES" HHHHHHHHHHHHHHHHHHH

"S3S3 BE,ORE ME( this !insert ate" in !insert p)ace"( pers&na))$ appeare : Name 1T1 N&3 -ssue at -ssue &n

4n&%n t& me t& #e the same pers&ns %h& execute the '&reg&ing instrument c&nsisting !state num#er &' pages" pages inc)u ing this Ac4n&%)e gment( an %h& ac4n&%)e ge t& me that the same is their +&)untar$ an 'ree act an ee an th&se &' the parties an instituti&ns represente 3 -N W-TNESS WHEREO,( - set m$ han an a''ix m$ n&taria) sea &n the ate an p)ace a#&+e %ritten3 N&tar$ Pu#)ic 2&c3 N&3 HHHHH. Page N&3 HHHHH. B&&4 N&3 HHHHH. Series &' HHHHHH3