SEPARATION AND RELEASE AGREEMENT

This Separation and Release Agreement ("Agreement") is made and effective this <date>

BETWEEN: <NAME>, Filipino, of legal age, with residence

address at <address> (the"Employee")

AND: ABC COMPANY, INC., a corporation duly organized and existing under
the laws of the Philippines, with principal office at
( the "Company")

both Employee and Company are referred to collectively as the

"Parties"

RECITALS

Employee is an officer of the Company and the Parties after consideration of all incidents have
deemed it best that it is to their best interest to terminate their existing employer-employee
relationship;

The Parties wish to resolve any and all claim by Employee which he may have against the
Company arising from his employment and vice-versa;

The Parties represent that they have been advised about the Agreement by their respective
counsels, are competent to enter into it, fully understand its terms and consequences, and
enter into it knowingly and voluntarily.

NOW, THEREFORE, in consideration of the above recitals and the mutual promises and
conditions contained in this Agreement, the Parties agree as follows :

A. CLAIMS COVERED

The Parties understand and expressly agree that this Agreement extends to all claims of every
nature and kind, past, present , or future, arising from or attributable to the employment
relationship which existed between the Parties, as well as such entitlements and/or
compensation claimed arising out of Employee's involvement in the development,
maintenance or promotion of accounts for insurance business of the Company , and any and
all rights granted to Employee under the Labor Code of the Philippines and regulations thereof.
It is understood that the listing of accounts as mentioned in Section B hereunder shall be
exclusive (i.e. excluding and not admitting any other account not mentioned or specified ) and
thus, for avoidance of doubt, it is agreed that if not included therein, an account will not be
accepted as among those which Employee is entitled to any compensation.

B. PAYMENTS AND UNDERTAKING

In consideration for the promises and covenants contained herein, the Company has agreed to
the payment and/or to such undertaking in favor of the Employee as follows -

(i) Payment of the amount of Pesos: <###> representing mandatory and other employment
benefits as detailed in Attachment "A" hereof;

(ii) For the Company to earmark the amount representing Employee's retirement pay pursuant
to and in accordance with the Company's Retirement Fund as the same is computed as shown
in Attachment "B" hereof, which retirement pay is to be paid to Employee upon his reaching the
age of fifty; provided, where the Employee opts to get the retirement pay before the attainment
of the age of fifty, Employee shall pay for the appropriate tax due thereon.

(iii) For the payment of the amount of Pesos: <###> representing commission compensation
from the accounts or businesses listed in Attachment "C" hereof, which the Employee claims to
have active and direct participation in the promotion, development or maintenance thereof ;
And, for the payment of future commissions as may be due and derived from the said listed
accounts or businesses for the period commencing on June 1, 2012 to December 31, 2012 or
during such period that the said accounts are still in force whichever comes earlier.

C. MUTUAL RELEASE

(i) By Employee : Employee, on behalf of himself and his representatives, spouse, agents,
heirs and assigns, releases and discharges Company and Company's officers, employees,
representatives, agents, fiduciaries, directors, shareholders, and successors in interest from
any and all claims, liabilities, causes of action, damages, losses, demands or obligations of
every kind and nature, which Employee ever had, now has, or hereafter can, shall or may have
for, upon or by reason of, any and all matters dealing with or covered under Section A above.
Employee waives any and all actions, challenges or contests asserting any claims, losses,
liabilities, demands or obligations released hereunder.

(ii) By Company : In consideration of the Employee complying with the terms and conditions of
this Agreement, the Company hereby agrees to waive any and all claims, causes of actions,
rights and remedies it may have against Employee arising from incidents of his employment
and matters referred to in Section A above.

Except as provided in this Agreement, each party to this Agreement denies any liability to the
other party hereto and intends by this Agreement merely to avoid litigation and to buy peace.
Nothing contained herein shall constitute any admission as to any liability of any kind.

D. CONFIDENTIALITY

The Parties agree to maintain the confidentiality of this Agreement. Accordingly the parties will
not voluntarily disclose the terms and the contents of this Agreement to any third party other
than attorneys or accountants in connection with the rendering of professional services, or as
required by law.
E. EMPLOYER PROPERTY AND TRADE SECRETS

Employee will return to the Company any and all of its property ( except those listed in
Attachment "A") and documents which he has in his possessions, including but not limited to,
documents, equipment, tools, computers, customer lists, correspondences, handbooks,
manual reports, plans, projects, drawings, marketing materials, software, formulas, and
proprietary information within ten days from the execution of this Agreement.

F. NON-DISPARAGEMENT

The Parties each agree that it shall not make any false, disparaging, or derogatory statements
to any media outlet, industry group or person, current, former or potential customers or patrons,
regarding such other party, any of its such party's officers, directors, stockholders and
employees or about such other party's business affairs or financial condition. This provision
shall apply to Employee's Related Body Corporate in accordance with Section H below.

G. FURTHER DOCUMENTS

Each party agrees to execute or cause the execution of any additional document and take
further action which may reasonably be required in order to consummate this Agreement or
otherwise fulfill the obligations of the Parties hereunder.

H. RELATED BODY CORPORATE

This Agreement and its terms insofar as it obliges the Employee shall also be binding upon and
apply to such body corporate which has done or has business with the Company and which is
related to Employee by virtue of the Employee or his spouse, children or relatives to the fourth
degree, being (a) an existing stockholder; (b) an incorporator; (c) officer.

I. CONSTRUCTION, MODIFICATION, SEVERABILITY

This Agreement shall be construed in the language written in accordance with its fair meaning
and not for or against any party. Headings in this Agreement are for convenience only and are
not part of the substance hereof. If any provision of this agreement is held to be invalid, void or
unenforceable, the remaining provisions shall remain in full force and effect. However, if the
provisions of Sections B,C, and D are held invalid, unenforceable or void as a result of any
action by the Employee, the Company shall be entitled to recover from the Employee any
payments made or undertaking complied in his favor.

J. REPRESENTATION AND WARRANTIES

Each party hereby represents and warrants that is had the benefit of advice from independent
legal counsel of their own choice with whom the terms and conditions of this Agreement has
been discussed in full, and that party has entered into this Agreement voluntarily and of its
own free will and without any duress.

IN WITNESS WHEREOF, the Parties each hereby execute this Agreement as of the date first
above written.
 NAME COMPANY
In His Personal Capacity and On Behalf
Of XYZ Company By:

NAME
President and CEO

Signed In The Presence Of

____________________________ ___________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

_____________________________ )

I certify that on this date, before me, a Notary Public duly authorized in the City named above
to take acknowledgments, personally appeared :

Competent Evidence of Identity Issued on/at

COMPANY
By: NAME ___________________/__________________

NAME __________________/__________________

who were identified by me through competent evidence of identity to be the same persons
described in the foregoing Separation and Release Agreement consisting of four (4) pages,
including this page on which the Acknowledgment is written, who acknowledged before me that
their signatures on the instrument were voluntarily affixed by them for the purposes stated
therein, and who declared to me that they have executed the instrument as their free and
voluntary acts and deeds and that they have the authority to sign on behalf of the corporation
represented.

IN WITNESS WHEREOF, I hereunto set my hand and affix my notarial seal on the date
and at the place above written.

NOTARY PUBLIC
Doc. No. _____
Page No. _____
Book No. _____
Series of 2012.