ARTICLES OF PARTNERSHIP

Of
“ JADEE’S KOREAN GROCERY”

KNOW ALL MEN BY THESE PRESENTS:

These Articles of Partnership, made and executed by and among:

DANIELLA KYLA TABLADA , general partner, Filipino, residing at Brgy.

Bugallon Norte, Ramon, Isabela, Philippines ;

KEVIN JAIRO L. SANTIAGO , general partner, Filipino, residing at

Brgy. Burgos, Ramon Isabela, Philippines ;

DONNA M. DIOYO , general partner, Italian, residing at Milan,

Italy ;

all of legal age, witnesseth:

1. That the above-named partners have formed a limited partnership

among themselves under the name and style of JADEE’S KOREAN GROCERY;

2. That the purposes for which said partnership is formed are:

a) To put up a Korean Grocery Store that would cater to customers

in need of Korean products, delicacies, ingredients and snacks
in the province of Isabela; and

b) To steadily grow and become the number one Korean Grocery

Store in the province of Isabela.

3. That the principal office of the partnership shall be located at

Purok 1, Bugallon Proper, 3319 Ramon, Isabela, Philippines ;

4. That the term of existence of this partnership shall be 10 years

from and after the execution of these articles;

5. That the capital of the partnership shall be ONE HUNDRED THOUSAND

PESOS (P 100,000.00) contributed by the partners, as follows, to wit:

DANIELLA KYLA TABLADA ………………………………………. P

50,000.00;
KEVIN JAIRO L SANTIAGO ……………………………………. P
25,000.00;
DONNA DIOYO ……………………………………………………. P
25,000.00;
thereby making a TOTAL CAPITAL of ………………………………… P
100,000.00

6. That the partners shall provide their utmost services and best
efforts on behalf of the partnership. No partner shall receive a
salary for services rendered to the partnership. Each partner shall
have equal rights to manage and control the partnership and its
business. Should there be differences between the partners concerning
ordinary business matters, a decision shall b e made by unanimous
vote. It is understood that the partners may elect one of the
partners to conduct the day-to-day business of the partnership;
however, no partner shall be able to bind the partnership by act or
contract to any liability without the prior written consent of each
partner.

7. That the profits and losses shall be apportioned among the

partners of the partnership in the following manner;

a) That the seventy five percent (75%) of the Net Income

accumulated within the month will then be divided amongst the
following partners based on the percentage of the capital
contribution the said partner has participated therewith to
the total Capital of the business.

Name of Partner Capital Capital Income/Loss

Contribution Percentage Percentage
Daniella Kyla P 50,000.00 50% 50%
Tablada
Kevin Jairo Santiago P 25,000.00 25% 25%
Donna P 25,000.00 25% 25%

b) That the remaining twenty five percent (25%) of the Net Income
accumulated within the month will be allocated as an Emergency
Fund to be used for, but not limited to;
1. Expenses for the improvement/development of the
business
2. Emergencies wherein said situation involves and relates
to the stability, security and welfare of the business.
3. Donations or Social Responsibilities in relation to the
goodwill and reputation of the business.
4. Purchases of additional stocks, with the consideration
that said purchases is for the purpose of expansion and
further development of the business.
5. Other related expenses that benefits the business.

c) That at the end of the fiscal year, the accumulated unspent

Emergency Fund will then be allocated amongst the partners,
with the aforementioned Capital Percentage applying to the
said division, unless the partners agree unanimously on how
 said accumulated unspent Emergency Fund at the end of the
fiscal year would be spent.

IN WITNESS WHEREOF, the parties hereto have hereunto set their

hands, this ______ day of ____________, 20 ____, in ________________
Philippines.

_____________________
DANIELLA KYLA TABLADA

_____________________
KEVIN JAIRO SANTIAGO

_____________________
DONNA DIOYO