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20 AJA a SUBIC BAY Coo TAR Certification No. 16-087 Series of 2016 MEMORANDUM Subject AMENDMENT ON RESOLUTION NO. 13-10-4881 This certifies that: The records of the Office of the Corporate Secretary show that during the Three Hundred Twelfth (312") Meeting of the Board of Directors of the Subic Bay Metropolitan Authority held last 28 March 2016 wherein there was a quorum to validly transact business, the following resolution was approved: Resolution No. 16-03-5698 "Resolve, as it is hereby resolved, that upon recommendation of Management and without prejudice to COA Regulations and pertinent laws on the matter, the Board hereby approves to amend Resolution No. 13-10-4881 to clarify that: * For product or service expansions, if such expansion shall require a drastic or significant change in process, new equipment or other similar changes, such request shall be categorized as PBA; otherwise, MAP; * For reduction of business activity, as long as the remaining business activity was previously approved, such request shall be categorized as MAP; * All requests for change from 100% export business to mixed shall be categorized as PBA. A copy of the PowerPoint presentation is incorporated herein by way of reference.” Issued this 7 day of April 2016. & Av RUBEN 0. FRUTO Corporate Secretary ‘Subic Bay Metropolitan Authority OFFICE OF THE CORPORATE SECRETARY Building 229, Waterfront Road, Subic Bay Freeport Zone, 2222 Philippines = Tel: #6347 252.417214174 + Fax: +6347 252.4170 3/29/2016 L=FeTol ele ley On 11 Oct SE MLO Directors apprdved a resolution that required any Peace eRe aoe es NCIC oo meouiul uns There is no established definition he what is covered unde! The Office fo) 3/29/2016 Items for Consideration Eons ‘Additional Products or Service / Product ‘or Service Expansion Reduction of Approved Business Activity From 100% Expod to Mixed Clete. ou it ch im: ern CG tae MASTER OF copy:t 6- wy