ARTICLES OF GENERAL PARTNERHIP

Of
LIEJEN Company
KNOW ALL MEN BY THESE PRESENTS:
That we a Filipino citizen, single, all of legal ages and resident of the Philippines have
covenanted to establish a partnership from this date in accordance with existing laws,
AND WE HEREBY CERTIFY:
1. That the names, surnames, and addresses of the respective partners are as follows:
Names
Addresses
Lieza Jane G. Taduran
Cotnogan, Polangui, Albay
Jennilyn B. Asis
Matacon, Polangui, Albay
2. That the name of this partnership shall be LIEJEN COMPANY, and it shall exist until the
partners want to continue the business agreement from the execution of this instrument, with the
right of transfer or retirement of any partner provided written notice and approval and made to
and by the others;
3. That the capital of this partnership shall be as follows; Php195, 907.24, Philippine Currency,
broken down, in contributions,
Names
Contributions
Lieza Jane G. Taduran
P 97, 953.62
Jennilyn B. Asis
97, 953.62
4. That the partners will receive a salary of: Lieza Jane G, Taduran being the General Manger, will
receive Php 7,200 yearly, Jennilyn B. Asis being the Production Manager, will receive Php 7,200
yearly.
5. The partnership will maintain a capital account record for each partner, should any partners
capital account fall below the agreed amount, then that partner shall have his share of
partnership.
6. That the purpose for which this partnership is established is to produce Granola Pili Bar for the
benefit of the partners, its constituents.
7. The partners will provide their full time services and best efforts on behalf of the partnership.
However, he/she will be allowed to engage in other business activity as long as it will not harm

or affect the partnership. The partners receive a salary and fringe benefits for services rendered
to the partnership.
8. That the profits and losses will be divided among the partners pro rata, in proportion to their
respective contributions.
9. In the event a partner withdraws or retires from the partnership for any reason, including death,
the remaining partners may continue to operate the partnership using the same name. A
withdrawing partner shall be obligated to give thirty (30) days prior written notice of his/her
interest in the partnership.
10. No partner shall transfer interest in the partnership to any other party without the written consent
of the remaining partner. The remaining partner shall pay the withdrawing or retiring partner, or
to the legal representative of the deceased or disabled partner, the value of his interest in the
partnership, or (a) the sum of his capital account, (b) any unpaid loans due him, (c) his
proportionate share of net profits remaining undistributed in his capital account.
11. A partner who retires or withdraws from the partnership shall not directly or indirectly engage
on a business which be competitive with the existing or then anticipated business of the
partnership for a period of two (2) years within the City/Province of Albay where the partnership
is currently doing or planning to do business.

IN WITNESSED WHEREOF, we have hereunto set our hands this

at

, Philippines.
(SIGNATURES OF PARTNERS)

LIEZA JANE TADURAN

JENNILYN B. ASIS

Date: April, 2016

Date: April 2016

SIGNED IN THE PRESENCE OF:

Dr. Eden M. Llamera

Instructor SunjayGandia

Date:

Date: