MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This agreement made and entered into this 7th day of November, 2018 by
and between:

The University of the East, an educational institution established under

Philippine laws, represented herein by its president, Dr. Ester A. Garcia,
hereinafter referred to as the “UE”,

- and -

Home Development Mutual Fund (HDMF)/ PAG-IBIG Fund Cubao

Branch, a Government-Owned and Controlled Corporation-Government
Financial Institution (GOCC-GFI), located at 2nd level Spark place Bldg. P.
Tuazon corner 10th Ave Cubao, Quezon City represented herein by its
branch head, Ms. Contessa C. Olegario hereinafter referred to as the OJT
HOST.

-WITNESSETH-

Whereas, the UE believes in the improvement in the quality life of people

through formal education;

Whereas, the UE desires to provide quality education and training of its

students to prepare them for in their chosen field of specialization and to make
them globally competitive;

Whereas, the OJT Host is engaged in Finance/Servicing.

Whereas, the OJT Host is willing to be a partner of UE in the

implementation of on-the-job (OJT) training, industry immersion of faculty, and
other innovative undertakings,

NOW, THEREFORE, for and in consideration of the foregoing premises

and the mutual covenants hereinafter stipulated, the parties hereto agree as
follows:

I. THE PROGRAM: Supervised Industry Training (SIT) or on-the-job training of

UE students in the field of Finance/Marketing.

II. OBLIGATIONS OF UE

A) Selects the students who will undergo the supervised industry training
(SIT) or the faculty who shall undergo industry training or immersion.

B) Prepares training plan or proposed areas of skills where students need

further training and experience.

C) Assigns a faculty who shall coordinate with OJT Host and supervise and
monitor the on the job training of students.
 D) Coordinates the entry and exit students in the program and collect and
consolidate the performance report rating of students.

III. OBLIGATIONS OF OJT Host

A) Plans onsite training activities such as lectures, hands on learning and

other relevant learning experiences.

B) Ensures effective conduct of experiential learning and development of

technical skills.

C) Assigns a training coordinator in the person of Ms. Angelita S.A. Cantiga –

Branch Support (Cash) who shall supervise OJT and confer with the UE
Faculty Coordinator whenever necessary.

D) Monitors the progress of students and evaluate the performance of each

student at the end of the training program.

IV. LIABILITY: Each party shall answer for losses and damages arising from any
accident, act or omission directly attributable to its fault or negligence, which
may cause death, or bodily injury(s) to any persons, or loss or damage to
property, by or on account of the performance of the respective obligations by
the parties pursuant to this Agreement. It is intended that this limitation apply
to any and all liability or cause of action however alleged or arising, unless
otherwise prohibited by law. Such responsibility shall continue to remain that
of the responsible party’s even after the termination of this Agreement, if such
losses and damages were incurred during the effectivity of this Agreement.

V. INDEMNIFICATION: The OJT Host shall indemnify and hold UE, its officers,
employees, directors and agents harmless for any losses, claims, damages,
awards, penalties, or injuries incurred by any third party, including reasonable
attorney's fees, which may arise from the willful and gross negligent acts of
the OJT performed during the effectivity of this Agreement. This indemnity
shall survive the termination of this Agreement.

VI. CONFIDENTIALITY: Both parties agree to hold all confidential/propriety

information in confidence and agree to use confidential information only for
purposes of this Agreement. The parties agree not to use, adapt or reproduce
for any commercial purpose any confidential information without the consent
of the disclosing party.

VII. DISPUTE RESOLUTION AND MEDIATION: Should any dispute,

disagreement or controversy arise from this Agreement, the parties agree to
enter into mediation or arbitration to be conducted by and under the rules of
National Center for Mediation of the Philippines which mediation shall not
exceed thirty (30) days notwithstanding anything to the contrary. The parties
agree that they will equally shoulder any and all expenses related to
mediation or arbitration. No court action can be filed without undergoing the
process provided in this Section.
VIII. EFFECTIVITY: The Term of this Agreement shall be for two (2) years from
Effective Date. It shall be renewed automatically for successive renewal terms
of two (2) years per renewal unless written notice of non-renewal is served by
the non-renewing party to the other party within thirty (30) days from the
expiration of each Term.

IN WITNESS WHEREOF, the parties have hereunto signed this

Memorandum of Agreement this ________ day of ______________20____ at
______________________.

Home Development mutual fund/

Pag-ibig fund cubao branch UNIVERSITY OF THE EAST

By: By:

MS. CONTESSA C. OLEGARIO DR. ESTER A. GARCIA

Branch Head President and Chief Academic Officer

SIGNED IN THE PRESENCE OF:

MS. ANGELITA S.A. CANTIGA DR. LINDA P. SANTIAGO

BRANCH SUPPORT (CASH) Chancellor

PROF. SANDRA R. MORALES

OJT Coordinator
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

CITY ) S.S.

BEFORE ME, a Notary Public, in and for the above jurisdiction, this ____
day of ___________________________, personally appeared:

MS. CONTESSA C. OLEGARIO 123500625

DR. ESTER A. GARCIA 110-847-105

known to me and to me known to be the same persons who executed the

foregoing instrument of “Memorandum of Agreement” and acknowledged to me
the same as their free and voluntary act and deed as well as of the corporation
represented herein.

This instrument, consisting of three (3) pages, including this page on

which this Acknowledgement is written, has been signed by the PARTIES and
their instrumental witnesses on each and every page thereof.

WITNESS MY HAND AND SEAL on the date and at the place first above-
written.

NOTARY PUBLIC

Doc. No. ______;

Page No. ______;
Book No. ______;
Series of _______