ARTICLES OF PARTNERSHIP

KNOW AL MEN BY THESE PRESENTS:

This articles of partnership and executed by and between ATTY. SYLVIA Q. ALFONSO-
FLORES, of legal age, married, Filipino and ATTY. MARVIC C. ALFONSO, of legal age, single,
Filipino and both residents of 5022 Dona Isabel St., Don Bonifacio Subd., Balibago, Angeles City;

W I T N E S S E T H :

1. That the parties are both lawyers and are duly licensed to engage in the practice of
law in the Philippines;

2. That the parties hereto have agreed and do hereby agree to operate in partnership a
firm which specializes in the practice of law and such other allied services related to and not
inconsistent with the practice of said profession;

3. That said accounting firm shall be operated under the name

ALFONSO-FLORES AND ALFONSO LAW OFFICE

and shall be situated at 47-9A F.G. Nepomuceno Avenue, Pulung Maragul, Angeles City, until
both partners decide to change its firm name and location, in which event this article shall be
amended accordingly;

4. That the partnership shall exist indefinitely from date hereof, unless it is sooner
terminated by mutual agreement of both partners, or by voluntary retirement of either one of
them on ONE (1) MONTH advance notice and in the occurrence of the latter event, articles of
dissolution shall be filed with the Securities and Exchange Commission;

5. That each partner shall devote all their working time to the affairs and business of the
partnership;

6. That both partners shall exclusively contribute to the partnership all the necessary
facilities and equipments required in the proper and adequate operation of the firm and an
initial amount of ___________________________ (P________), Philippine Currency;

7. That the partnership shall be mutually managed by both partners and all decisions
relating to the operation and management of the partnership or any of its affairs must be made
by both partners;

8. That each partner shall have regular salary allowance monthly to be mutually
resolved from year to year and which shall be part of the operating expenses of the firm in the
computation of the net profits or losses;

9. That all net profits as well as losses arising from the operation of the partnership shall
be shared equally by the partners and by which they may also make withdrawals from the
partnership funds as often as they may mutually agree as profits are accumulated;

10. That for purposes of expanding the firm, the partners hereby agree to admit in the
future Two (2) additional qualified persons as partners mutually acceptable to them, in which
event this article shall be amended accordingly; and
 11. That no rights of either partner shall be transferred to an alien or foreigner or to any
person not qualified under the law to acquire such right.

IN WITNESS WHEREOF, the parties hereto affixed their signatures on this ____ day of
August, 2012 at Angeles City, Philippines.

ATTY. SYLVIA Q. ALFONSO-FLORES ATTY. MARVIC C. ALFONSO

Partner Partner
Driver’s License No.____________ Driver’s License No.C11-12-003221
Valid until ___________________ Valid until June 16, 2013

Marital Consent:

JOVENCIO V. FLORES

SIGNED IN THE PRESENCE OF:

_____________________________ _______________________________

A C K N O W L E D G E M E N T

REPUBLIC OF THE PHILIPPINES)

CITY OF ANGELES ) S.S.

BEFORE ME, this ____ day of August, 2012 at the above mentioned locality personally
appeared ATTY. SYLVIA Q. ALFONSO-FLORES with Driver’s License No.__________ which shall
expire on ____________ and ATTY. MARVIC C. ALFONSO with Driver’s License No. C11-12-
003221 which shall expire on June 16, 2013 known to me and to me know to be the same
persons who executed the foregoing contract of partnership and acknowledged to me that the
same is their free and voluntary act and deed.

It is further certified that this instrument is composed of two (2) pages, including this
page wherein the acknowledgement is written, both duly signed by the herein executors and
their instrumental, witnesses.

WITNESS MY HAND AND SEAL.