CONTRACT OF LEASE

Tliis Conlraci of Lease execmed this 2016, by and bet^veen:

NATIONAL LIFE INSURANCE COMPANY OF THE PHILIPPINES, a corporation organized and

existing under tiie lau's of the Pliilippines, uith office address at NLTC Building, 6762 Ayala Avenue,
Makati Citi|' Metro Manila, represented herein by its Ex-OlTicio Conservator, ATTV. JOHN A. APATAN,
liereinafter referred to as the "LESSOR''
-and-

ALL ASIAN COUNTERTRADE, INC. a corporation, organized and existing under the laws of the
Philippines, uith principal office address at llie 5lh Floor, Nau^.nil Life Insurance Building. #6762 Ayala
A\enue, Makati City, represented herein by its Chainnan. MR. MICHAEL L. ESCALER, hereinafier
referred to as the "LESSEE",
WITNESSETH that;

WHEREAS, the LESSOR, is the owner of a certain office space in National Life Insurance Building,
Ayala Avenue, Makati City Metro Manila, with a total floor area of FOUR HUNDRED TWENTY
EIGHT SQUARE METERS (428 SQ.M.) (the"Premises)..
6"* floor - 428 sq.ni.

WHEREAS, for and in consideration of the payment of the rent herein stipulated and of the faithful
compliance of all the conditions and covenants hereinafter contained the LESSOR has agreed to lease unto
the LESSEE and the LESSEE does herebyaccept the lease, the Premises, under the following conditions;

I. PERIOD OF LEASE

Tliis lease shall be for a period of one year and nine & one-half months commencing on March
16, 2016 and ending at midnight of December 31, 2017 at a monthly rental rate of Php630.00
) per square meter plus VAT and a monthly CUSA rate of Plip205.00 per square meter plus
; VAT. Tills lease is renewable under such terms and conditions as may be mulimlly agreed upon
; between lite parlies, pro\ ided that either parly gives written notice to the other of its inteniioti to
2
j renew the lease at least (90) da3 Sbefore theexpiration of the lease.

AMOUNT OF RENT

Period Covered Monthly Rental Monthly CUSA

Mar. 16,2016 to Dec. 31, 2017 Php 269,640.00 Plus VAT Plip87,740.00 Plus VAT

The rent free, fit- out construction period shall be from Jamiaty 16 , 2016 to March 15, 2016. The
same sliall end upon actual completion of ihe conslniciion or upon occupancy of the units but not
later than March 15, 2016. Dnrittg this period, me i..l,SSEE shall be liable to pay CUSA plus
VAT, light and water bills. Hie LESSEE is also bound lo slriclly obseive fit-onl guidelines
provided b)' building management.

The LESSEE agrees lo pay the monthly rental and CUSA at (he LESSOR'S address wriden abo\'e
within the first (5) fl^ e days of each relevant month, without delay and without need of prior
demand. Should the LESSEE fail to pay the rental and CUSA wilhin such five day period, the
LESSEE sliall also pay a monthly interest of two percent (2%) pins penalty of three percent (3%)
per month each to be computed from the date of delinquency until paid in lull.

All payments made under this contract sliall first be applied to other oulstanding obligations such
as interests, expenses incurred by the LESSOR for electric senices and other uiiliiies and for
changes or repairs in the uiiliiies before applying the same lo renlals due and unpaid.

Should anyone or more monthl}' rentals and/or CUSA and/or uiiliiies be not paid on due date as
herein specified and remain unpaid for more than sixty (60) days, tiie LESSEE hereby authorizes
and empowers the LESSOR to cut otTall connections on light ,waier and to padlock the leased
premises.

3. DEPOSIT AND ADVANCE RENT & CUSA

Upon ilie execmioii of this contract, the LESSEE sliall pay the LESSOR, a deposit equivalent of
three (3) months rental and three (3) months advance rental and CUSA to be applied for the first
three (3) months of the lease after the rent free, fit-out period.. The deposit shall be nou-interesl
bearing and shall apply lo wiiaie\ er valid claim the LESSOR may have againsi the LESSEE. The
balance of ilie deposit, if any shall be refimded to Ihe LESSEE wilhin (60) days after llie LESSEE
shall luwe \ acaied the Premises. In case of renewal of this Contract, (he balance of ilie deposit
shall form pan of the new deposit agreed upon for the new Contract. These are due for paj inenl
before .(he start of llie lease contract.

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