Bookkeeping and Consultancy Contract

This Bookkeeping Agreement (“Agreement”) is being made between Ecosystems Enterprises,

Inc., Printmore and Primary Colors (Client) located at 4321 Emilia St., Brgy. Palanan, Makati
City and Panelo Accounting and Management Advisory Services located at No.22 Purok 3,
Brgy. Baclaran, Cabuyao City (Accounting Firm / Firm) may also be referred to as “Party” or
together as the “Parties”. This Agreement will become effective on November 15, 2018.

IN CONSIDERATION OF the Accounting Firm providing bookkeeping and consultancy services

as desired by the Client, and the Client paying the Accounting Firm for performing the said
services, the Parties agree to the following:

1. Services
The Accountant agrees to perform the following services (“Services”):

A. Regular basis:

1. Review posting of your monetary day-to-day activities (receipts and expenses) in

your Quickbooks system as to the completeness, proper classification of accounts,
and adjusting entries when applicable.

2. Conduct random audit of account balances to ensure accurate reporting on daily

cash flow, working capital and other financial reports.

B. Monthly basis

1. Review monthly BIR tax returns and compliances.

2. Conduct monthly bank reconciliation

3. Conduct Monthly Income Statement

4. Prepare monthly Projected Cash Flow

5. Compile monthly inventory reports (work in process, finished goods on hand, and
unbilled deliveries), ageing of accounts receivable, and summary of prepaid
expenses.

6. Compile reports on all payable balances (trade and nontrade), taxes paid, and
accrued expenses.

Page 1 of 4
 C. Annual basis

1. Compile Financial Statements and other annual reports.

2. Prepare projected cash flow and annual budget for the succeeding year.

D. Others:

1. Coordinate and consult with external auditor any matter pertaining to the company's
internal accounting records and compliances with BIR requirements.
2. Provide consultancy services to the management on matters pertaining to
accounting and finance.
3. Other consultancy and accounting matters. (Additional fees may be required
depending on the level of performance)

2. Rate
The Client will pay the Accounting Firm P20,000 upon signing of the contract which
covers also the first month of the services then a monthly regular rate of P15,000.00
thereafter until the contract ends. The Payment must be made via check and is due on
every 15th of the month beginning November 15, 2018 covering the period Nov. 15 to
Dec. 14, 2018 and become due again for the next coming period before rendering the
services. Out-of-pocket expenses in connection with Client’s business operation will also
be included as addition to monthly billing, if there’s any, such as; filing fees, notarial
services, travelling expenses in excess of 4 visits in a month (fixed additional fee of
P1,000, except visits made as make-up for the accumulated missed visits for the past
months.)

Retainer fees are due and payable automatically every 15th of the month. Billings
become delinquent if not paid after 30 days. If billings are past due in excess of 60 days,
we may compel to stop all our work until your account is brought current.

3. Standard of Performance
The Firm acknowledges and represents they have the necessary training, experience,
and credentials required to perform the services. The Firm agrees to follow professional
standards and expectations when providing the Services. The Accountant also agrees to
visit the client at least once a week to regularly monitor and supervise their accounting
works.

Page 2 of 4
4. Term and Termination
This Agreement will begin on the Effective Date and will remain in effect for one (1) year
unless renewed or extended.
Either Party may terminate this Agreement at any time, with or without notice, if the other
Party fails to meet their obligations under this Agreement.

5. Company Responsibilities
The Client, and all those charged with governance should be:
a. Responsible for management decisions and functions, for designating a
competent employee to oversee any of the services we provide, and for
evaluating the adequacy and results of those services.
b. Responsible for identifying and ensuring that the entity complies with applicable
laws and regulations.
c. Responsible in giving us endorsement and unrestricted access on your
documents and information applicable to our scope of work, in order for us to
complete the engagement efficiently.

Any failure to provide such documents and information, and to do so on a timely basis,
will impede the Firm’s services. The Client agrees to accept responsibility for any effect
on your accounting records and financial statements of basic financial information or
transaction documents not submitted to us for processing and entry, or losses that may
result from their absence.

6. Confidentiality
In providing the Services, the Accountant may be exposed to the Client’s confidential
data. The Accountant agrees to hold all confidential data in complete confidence during
the term of this Agreement as well as after termination.

7. Dispute Resolution

In the event of a dispute, the Parties agree to work towards a resolution through good
faith negotiation.

Page 3 of 4
 8. General
a. Engagement Letter. The Parties may also refer to the signed engagement letter
for any clarification on this contract. Should there be any conflict between these
two documents, the contract will prevail.
b. Complete Contract. This Agreement constitutes the Parties entire
understanding of their rights and obligations. This Agreement supersedes any
other written or verbal communications between the Parties. Any subsequent
changes to this Agreement must be made in writing and signed by the Parties.
c. No Exclusivity. The Parties understand this Agreement is not an exclusive
arrangement. The Parties agree they are free to enter into other similar
agreements with other parties.
d. Severability. If any section of this Agreement is found to be invalid, illegal, or
unenforceable, the rest of this Agreement will still be enforceable.
e. Relationship of the Parties. The Parties to this Agreement are independent
contractors. Neither Party is an agent, representative, partner, or employee of
the other Party.

By signing below, the Parties agree to the terms of this Agreement.

Ecosystems Enterprises, Inc., Primary Colors Inc., and Printmore Inc. ( or the Client)

Signed: ___________________

Name: ___________________

Date: ___________________

Panelo Accounting and Management Advisory Services (or the Accounting Firm)

Signed: ___________________

Name: ___________________

Title: ___________________

Date: ___________________

Page 4 of 4