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RESOLUTIONS

2012 FINEX BOARD OF DIRECTORS

BOARD RESOLUTION NO. 1-2012

RESOLVED, that the Proposed Rules and Conduct of the 2012


Election for President be approved.

BOARD RESOLUTION NO. 2-2012

RESOLVED, that the Board of Directors accept the resignation of


Mr. Victor dela Dingco effective December 31, 2011.

RESOLVED FURTHER, that Ms. Bernadette Astudillo, be


appointed as a member of the Board of Directors to replace Mr.
dela Dingco, and serve as such for the remaining term of Mr. dela
Dingco.

BOARD RESOLUTION NO. 3-2012

RESOLVED, that Mr. Ramon Opulencia, the duly elected President


of the Financial Executives Institute of the Philippines, Inc. for
2012, be given a free hand in the selection of officers of the
Institute, subject to confirmation or ratification by the Board of
Directors.

BOARD RESOLUTION NO. 4-2012

RESOLVED, that the minutes of the meeting of the 2012 Board of


Directors held on October 21, 2011 be approved.

BOARD RESOLUTION NO. 5-2012

RESOLVED, that the following are the elected 2012 officers of


FINEX:

President Ramon G. Opulencia


EVP George Chua
VP - Internal Affairs Esther Magleo
VP - External Affairs Peter Wallace

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VP - Capital Markets Senen Matoto
VP - Professional Development Paul San Pedro
VP - Corporate Governance Judith Lopez
Treasurer Ador Abrogena
Corporate Secretary Benito Soliven III

RESOLVED FURTHER, that the following are the liaison directors and
committee chairs for the following committees:

Committee Liaison Director Committee Chair


Affiliates Antonilo Mauricio Marivic Espao
Audit Judith Lopez Jimmy Villegas
Capital Markets
Development Senen Matoto Eddie Gana
CFO of the Year
Awards Sherissa Nuesa Vic Dela Dingco
Elections Ramon Opulencia Ronnie Alcantara
Ethics Bernadette Astudillo Alex Fider
Finance Ador Abrogena Ed Soriano
FINEX Week Carmen Serina Bing Pasco
Good Governance Judith Lopez Larie Concepcion
Information &
Communications
Technology Anton Mauricio Jo Villame
International Relations Bernadette Astudillo Tissa Roxas-Tan
Junior FINEX Benito Soliven III Vic Sarza
Membership George Chua Domeng Go
National Affairs Peter Wallace Vic Lim/Ed Yap
Professional
Development/Corpora
te Finance Paul San Pedro Ned Goseco
Programs and
Meetings Esther Magleo Lydia Orial
Publications George Chua Wilma Miranda
Sports and Wellness Omar Cruz Toti Bengzon
Tax and Legal Benedicta Baladad Lilibeth Garcia
Esther Magleo/Ador Tess Curia/Edith
Ways and Means Abrogena Dychiao

BOARD RESOLUTION NO. 6-2012

RESOLVED, that the following shall be the authorized signatories


of FINEX effective January 1, 2012:

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Any two (2) of the following:

President : Ramon Opulencia


Executive VP : George Chua
Vice President (Internal) : Esther Magleo
Vice President (External) : Peter Wallace
Treasurer : Ador Abrogena
Corporate Secretary : Benito Soliven III

BOARD RESOLUTION NO. 7-2012

RESOLVED, that the theme of FINEX for the year 2012 shall
be: FINEX: Moving the Philippines Towrds Global
Competitiveness.

BOARD RESOLUTION NO. 8-2012

RESOLVED, that Paredes Garcia & Golez Law Office be re-


appointed as legal counsel of the Financial Executives Institute of
the Philippines, Inc. (FINEX) for the year 2012.

RESOLVED FURTHER, that Atty. Hilario B. Paredes be re-appointed as


Assistant Corporate Secretary of the Institute for 2012.

BOARD RESOLUTION NO. 9-2012

RESOLVED, that the minutes of the meeting of the 2012 Board of


Directors held on November 9, 2011 be approved.

BOARD RESOLUTION NO. 10-2012

RESOLVED that the 2012 annual membership fee be increased to


Seventeen thousand pesos (P 17,000.00).

RESOLVED FURTHER than an early-bird discount in said annual


membership fee, in the amount of One thousand pesos (P
1,000.00) be granted to members who pay on or before 29
February 2012.

BOARD RESOLUTION NO. 11-2012

RESOLVED, that the application for regular membership of the


following nominees be approved:
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Name Position/Company Sponsor
1. Ms. Cecilia Tan President Ramon G. Opulencia
BPI Capital Corporation
2. Ms. Yvonne Joanna P. Vice-President Ramon G. Opulencia
Marcelo Security Bank Corporation
3. Ms. Ginaflor C. Oris Managing Director-Corporate Ramon G. Opulencia
Finance & Asset Management
Ayala Corporaton
4. Ms. Mildred V. Vitangcol President & CEO Alberto L. Buenviaje
St. Peter Life Plan, Inc.
5. Ms. Vivian Yu Chua EVP-Finance George S. Chua
Universal Motors Corporation
6. Mr. Juan Carlos L. Managing Director & Country Ramon G. Opulencia
Syquia Head, Origination &
Client Coverage
Standard Chartered Bank
7. Ms. Ma. Victoria P. Chief Risk Officer & Deputy Ramon G. Opulencia
Sugapong Controller
Manila Water Company, Inc.
8. Mr. Juan Carlos Robles Partner & Division Head, Leonardo D. Cuaresma
Advisory Services Division Jr.
Punongbayan & Araullo
9. Mr. Roberto Juanchito T. President Ramon G. Opulencia
Dispo First Metro Investment Corp.
10. Ms. Lynette V. Ortiz Managing Director, Ramon G. Opulencia
Head of Global
Standard Chartered Bank
11. Mr. Graham M. President & CEO Jesus M. Zulueta Jr.
Edwards Jardine Lloyd Thompson
Insurance Brokers, Inc.
12. Ms. Angelita P. Chief Finance Officer Jesus M. Zulueta Jr.
Badayos Jardine Lloyd Thompson
Insurance Brokers, Inc.

BOARD RESOLUTION NO. 12-2012

RESOLVED, that the affirmative vote of FINEX-Philippines to approve


FINEX-Polands membership in IAFEI be ratified.

BOARD RESOLUTION NO. 13-2012

RESOLVED, that the minutes of the meeting of the Board of Directors


held on January 8, 2012 be approved.

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BOARD RESOLUTION NO. 14-2012

RESOLVED, that the proposed budegt for 2012 as presented to the Board
is hereby approved/confirmed and/or ratified.

BOARD RESOLUTION NO. 15-2012

RESOLVED, that the application for regular membership of the following


nominees be approved:

Name Position/Company Sponsor

BOARD RESOLUTION NO. 16-2012

RESOLVED, that the proposal for FINEX to co-sponsor the luncheon


meeting of the 45th Asian Development Bank Annual Meeting of the Board
of Governors to be held on May 3, 2012 be approved.

BOARD RESOLUTION NO. 17-2012

RESOLVED, that the annual leave of absence fee be increased from


P5,000 to P7,000.

BOARD RESOLUTION NO. 18-2012

RESOLVED, that a token/plaque of appreciation be awarded to the


following officers and members who have accumulated one hndred points
or more for the year 2012:

1. Franlin F. Ysaac
2. Erdulfo S. Sison
3. Ronie B. Alcantara
4. Anonilo D. Mauricio
5. George S. Chua
6. Wilma I. Miranda
7. Roberto T. Borromeo

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BOARD RESOLUTION NO. 19-2012

RESOLVED, that FINEX cast its written vote for the election of Mr. Luis
Ortiz-Hidalgo as Vice Chairman of IAFEI for 2012.

BOARD RESOLUTION NO. 20-2012

RESOLVED, that the employment of Mr. Antonio Lui S. Austria, Systems


Administrator be regularized.

RESOLVED FURTHER that the following be approved:


a. Re-alignmane of Staff Assignments;
b. Hiring of Accounting Staff and Staff Coordinator to be posted in Jobstreet;
c. Renewal of Web and Email Hosting Services
d. Purchase of the following office equipment:
i. Digital Camera;
ii. LCD Projector;
iii. Sound System

BOARD RESOLUTION NO. 21-2012

RESOLVED, that the Board approve the proposals of the Information


and Communications Committee for the 1) the updating/purging of the
membership email list; 2) placing the mambership database offline for
more security; 3) guidelines for distribution/posting of seminar
materials; 4) uniform email signature for FINEX staff; 5) posting of
downloadable recruitment brochures and other support for the FINEX
recruitment drive; and posting of events and committee meetings and
other FINEX activities.

BOARD RESOLUTION NO. 22-2012

RESOLVED, that the minutes of the meeting of the Board of Directors


held on February 8, 2012 be approved.

BOARD RESOLUTION NO. 23-2012

RESOLVED, that the application for regular membership of the following


nominees be approved:

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Name Position/Company Sponsor
1. Mr. Francisco del Mundo CFO Lilibeth V. Fajardo
Coca Cola Bottlers Phils. Inc.
2. Ms. Ma. Victoria Treasurer Lilibeth V. Fajardo
Zapata Coca Cola Bottlers Phils. Inc.
3. Mr. Michael Angelo CFO/SVP for Finance Teodoro S. Del Mundo
S. San Diego EON The Stakeholders Jr.
Relations Firm
4. Ms. Vilma B. Cervantes VP and Head - Corporate Edgardo B. Logarta
Finance
5. Mr. Eric Manuel Founder Raoul A. Villegas
Brycg Group
6. Mr. Antoine Installe CFO VP Finance Antonilo D. Mauricio
Total (Phils) Corporation

BOARD RESOLUTION NO. 24-2012

RESOLVED, that the application for resignation of Mr. Gary Emerson P.


Cheng be approved.

RESOLVED FURTHER, that the application for life membership of Mr.


Joseph M. Yap be approved effective March 2012.

RESOLVED FINALLY, that the letters be sent to 1) members who


applied for lifetime membership informing them of their options regarding
the fees they pay to FINEX; and 2) members who still lack on points to
remind them of the minimum requirement of 10 points for each year.

BOARD RESOLUTION NO. 25-2012

RESOLVED, that the net income from the show Leading Ladies be used
as follows:

Social Involvement : P100,000


Judicial Reforms : All the remaining Proceeds from the Project

BOARD RESOLUTION NO. 26-2012

RESOLVED, that the Board nominates the following persons to the


Fairness Opinion Committee of the University of the Philippines:

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1. [Mike Please fill in the names of those who accepted the
nomination]
2.
3.

BOARD RESOLUTION NO. 27-2012

RESOLVED, that FINEX sponsor the plaque of recognition for the VP-
Finance Executive of the Year to be awarded by the Junior
Achievement of the Philippines, Inc. (JAPI).

BOARD RESOLUTION NO. 28-2012

RESOLVED, that the proposed topics and speakers for the General
Membership Meetings, from April to August, as recommended by the
Programs and Meetings Committee in its Memorandum to the Board
dated March 14, 2012, be approved.

BOARD RESOLUTION NO. 29-2012

RESOLVED, that extension of the Memorandum of Agreement (MOA)


with IAFEI, up to December 31, 2013, for the management of its
secretariat in the Philippines be approved.

RESOLVED FURTHER, that the President, Mr. Ramon Opulencia, be


authorized to sign the MOA with IAFEI.

BOARD RESOLUTION NO. 30-2012

RESOLVED, that the minutes of the meeting of the Board of Directors


held on March 14, 2012 be approved.

BOARD RESOLUTION NO. 31-2012

RESOLVED, that the Financial Executives Institute of the Philippines, Inc.


(FINEX) cast its affirmative written vote to the proposal of FINEXA
Poland, in cooperation with Financial Gates, to host the 43 rd IAFEI World
Congress in 2013 in Warsaw, Poland.

RESOLVED FURTHER, that FINEX cast its affirmative vote to the


recommendations of the Governance and Study Group of the IAFEI

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regarding voting rights, minimum and equal membership fees, and having
a lean organization, as presented to the Board.

RESOLVED FINALLY, that the President, Mr. Ramon Opulencia, is


authorized to represent, and sign, for an on behalf of FINEX, for the above
purposes.

BOARD RESOLUTION NO. 32-2012

RESOLVED, that the minutes of the meeting of the Board of Directors


held on April 11, 2012 be approved.

BOARD RESOLUTION NO. 33-2012

RESOLVED, that the application for regular membership of the following


nominees be approved:

Name Position/Company Sponsor


1. Mr. Martin Paul VP- Finance Lilibeth V. Fajardo
Reid Lafarge Cement Services
(Phils) Inc.
2. Ms. Cecila C. Executive Vice President Consuelo D. Garcia
Borromeo Land Bank of the Philippines
3. Ms. Lisa Luv CFO Roberto T. Borromeo
Montelibano LOreal Philippines
4. Mr. Jose Pacifico E. EVP and Chief Finance Officer
Marcelo Roxas Holdings, Inc.
[Balik FINEX]

BOARD RESOLUTION NO. 34-2012

RESOLVED, that the FINEX support and sign the Manifesto of Support for
HB 5727 : An Act Restructuring the Excise Tax on Alcohol and Tobacco.

BOARD RESOLUTION NO. 35-2012

RESOLVED, that the the 2012 cover design for the FINEX Directory be
approved.

BOARD RESOLUTION NO. 36-2012

RESOLVED, that the proposal of Villaruz Villaruz & Co. CPAs dated May
8, 2012 for accounting services be approved.

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BOARD RESOLUTION NO. 37-2012

RESOLVED, that FINEX is authorized to enter into a partnership with the


Asia Pacific Association for Fiduciary Studies (APAFS) for the 12 th Pacific
Region Investment Conference.

BOARD RESOLUTION NO. 38-2012

RESOLVED, that an Investment Committee be created to with authority to


invest available funds of FINEX in peso money market funds and equity.

RESOLVED FURTHER, that the following shall be the members of the


Investment Committee:

1. Ador Abrogena Chairman


2. Omar Cruz
3. Senen Matoto
4.
5.

RESOLVED FINALLY, that the recommendations of the Finance Committee as


regards the procedure for collection of 2011 and 2012 accounts be approved. As
regards the proposal to write-off accounts prior to 2011, one last collection effort
shall first be done before the write-off.

BOARD RESOLUTION NO. 39-2012

RESOLVED, that the smallest room of FINEX be devoted as a conference


room for the use of the FINEX members on a non-exclusive basis subject
to the same rules and regulations as the 2 other conference rooms.

RESOLVED FURTHER, that the Board approves the temporary use by


the Foundation for Filipino Entrepreneuship, Inc. (FFEI) of the desk space
at the far end corner of the FINEX Office, where FFEI can place a
server/computer, subject to such rules and regulations as may be imposed
by FINEX.

BOARD RESOLUTION NO. 40-2012

RESOLVED, that FINEX is authorized to enter into a Memorandum of


Agreement with the Philippine Dealing and Exchange Corporation to

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recognize FINEX and its nominee for representation in the PDEx
Governance Board, for the issuer sector.

BOARD RESOLUTION NO. 41-2012

RESOLVED, that the application for regular membership of the


following nominees be approved:

Name Position/Company Sponsor


1. Mr. Usman Ahmed Corporate and Investment Banking Head Kristine Braden
Citibank
2. Ms. Gilda M. Velez VP/Head, Corporate Banking II Susan Z. Prado
Development Bank of the Philippines
3. Ms. Ma. Lourdes Acting Head, Corporate Banking I- CRS Susan Z. Prado
Benedicto Gumba Development Bank of the Philippines

BOARD RESOLUTION NO. 42-2012

RESOLVED, that the application for resignation of the following be


approved and accepted:

1. Eugenie M.L. Villena


2. Cesar L. Lugtu

BOARD RESOLUTION NO. 43-2012

RESOLVED, that the application for life membership of the following be


approved effective June 2012:
1. Rodolfo B. Sta. Maria
2. Asuncion S. Aguilar
3. Lamberto R. Villena
4. Marito L. Platon
5. George S. Chua
6. Reu Fred M. Dellota

BOARD RESOLUTION NO. 44-2012

RESOLVED, that all new members will be asked to sign the Integrity
Pledge during their membership orientation.

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BOARD RESOLUTION NO. 45-2012

RESOLVED, that the following points shall be awarded to those who will
submit nominations for the CFO of the Year award, as follows:

Point/s
1 For each nomination
1 addl If nominee accepts nomination (through his efforts)
1 addl If nominee makes it to the shortlist (if he works in
tandem with the champion to build up the candidate)
2 addl If nominee wins the award

BOARD RESOLUTION NO. 46-2012

RESOLVED, that the minutes of the meeting of the Board of Directors


held on June 13, 2012 be approved.

BOARD RESOLUTION NO. 47-2012

RESOLVED, that the application for regular membership of the following


nominees be approved:

Name Position/Company Sponsor


1. Ms. Ruby P. Chiong AVP and CFO Commercial Sherisa P. Nuesa
Business Group
Ayala Land, Inc.
2. Mr. Artemio B. Chief Operating Officer Ernesto C. Santiago
Vitangcol III St. Peter Chapels
3. Ms. Ana Venus A. Mejia Deputy CFO Efren M. Reyes
Filinvest Land, Inc.

BOARD RESOLUTION NO. 48-2012

RESOLVED, that the application for resignation of the following members


be approved:

1. Ms. Kristine Braden


2. Mr. Larry Keim

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BOARD RESOLUTION NO. 49-2012

RESOLVED FURTHER, that the application for life membership of Mr.


Protacio C. Bantayan, Jr. be approved effective July 2012.

BOARD RESOLUTION NO. 50-2012

RESOLVED, that the FINEX support and sign the Citizens Groups Appeal
for and commitment to Judicial Reforms.

BOARD RESOLUTION NO. 51-2012

RESOLVED, that a committee be formed to study whether or not seminar


fees for seminars held by FINEX are subject to Value Added Tax (VAT)
and to submit its findings and recommendations to the Board of Directors.
The committee shall be composed of the following members:

1. Benedicta Baladad
2. Judith Lopez
3. Ador Abrogena

BOARD RESOLUTION NO. 52-2012

RESOLVED, that the contracted compensation for Abby Buenaventura


and Lynn Angeles be increased to P19,000 per month and P46,000 per
month, respectively, effective July 1, 2012.

BOARD RESOLUTION NO. 53-2012

RESOLVED, that the following recommendations of the Judicial Reforms


Initiative Subcommittee, incorporating the comments of the members of the
Board of Directors, be approved:

1. Allocation of an additional budget of P 200,000, on top of the


P200,000 initially allocated for the Judicial Reforms Initiative (JRI);
Provided that each project which will be undertaken by the JRI sub-
committee and all statements and press releases of the JRI
subcommittee shall be subject to prior Board approval; Provided
further that the fund allocation for the JRI, amounting to P 400,000,
shall be utilized within 2012, and any carry-over shall be subject to the
consideration and approval of the 2013 Board of Directors.
2. Disregard the proposed letter to President Aquino dated August 22,
2012.

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3. Adoption of the Citizens Appeal for Judicial Reforms Statement that
was approved by the National Affairs Committee last August 6, 2012.
4. Removal of the following items in the Specific Judicial Reform
Principles, under the For the Supreme Court and Associate Justices,
to:, temporarily remove the following items:

d. Request all judges and Justices to voluntarily sign authorizations


and/or waivers of confidentiality of their bank accounts of all
currencies and denominations, once an administrative complaint
involving graft and corruption is filed against them;

e. Require all judges, Justices and lawyers, in accordance with the


Code of Judicial Conduct, to sign a declaration under oath, at the end
of each case, that they did not accept or solicit bribes, nor did the
judges and Justices discuss the case privately with any of the parties
or their agents.

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