AGENT’S AGREEMENT

This Agent's Agreement is made on _______ day of _________________ by and between:

FWD LIFE INSURANCE CORPORATION, an insurance company duly licensed to sell insurance policies
within the Philippines with principal office address at the 19th Floor, W Fifth Avenue Building, 5th
Avenue corner 32nd Street, Bonifacio Global City, Taguig City 1634, Philippines, herein represented by
CAMILO F. VELASCO JR., its VP and Head of Distribution Operations, referred to as the “FWD,”

and

_________________________________, of legal age, and with residence address at

__________________________________________________________, referred to as the “AGENT.”

Both parties have the ability to enter into this Agreement and thus agree to the following terms and
conditions:

TERM OF AGREEMENT

1. This Agreement shall be deemed valid and binding only when FWD endorses the AGENT as its
agent to the Insurance Commission (“IC”) and shall remain effective unless otherwise
terminated under Section 30 hereof.

2. This Agreement shall have no force and effect unless duly executed by FWD acting through its
duly authorized officers.

STATUS OF THE AGENT

3. AGENT Is Not An Employee. - The parties fully understand and agree that this Agreement
does not and shall not constitute an Employer-Employee relationship between them and shall
not be bound by FWD rules and regulations governing the latter’s employees.

The AGENT binds himself/herself to render service in representation or on behalf of FWD, with
the consent or authority of the latter. The AGENT further undertakes that he/she is willing

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 and able to represent FWD in the solicitation of applications for various forms of life insurance,
consistent with the terms, covenants and conditions of this Agreement.

The AGENT is generally allowed to use his/her own time, place, method and resources in
achieving the results contemplated herein, provided they shall not be contrary to law, morals,
public policy, good conduct, regulations promulgated by the IC or other Government
Regulatory Agencies, provisions of this Agreement, or against the interest of FWD.

4. AGENT as Accountable Trustee. - The AGENT shall be bound to render an account of his/her
transactions and to deliver to FWD whatever he/she may have received by virtue of the Agency,
even though it may not be owing to FWD.

The AGENT shall hold in trust and in a fiduciary capacity all monies, properties or securities
received by him/her for and on behalf of FWD.

The AGENT shall be responsible for any act done and any loss incurred by any person acting
under his/her charge in relation to the performance of his/her obligations under this
Agreement.

AGENT’S AUTHORIZATIONS AND INSTRUCTIONS

5. The AGENT agrees to abide by the Market Conduct Guidelines issued by the IC, FWD’s
authorizations and/or instructions, including but not limited to present or future policies, rules
and regulations of FWD and/or the IC.

The AGENT agrees to limit his/her acts within the scope of his/her authority. The AGENT may
do such acts as may be conducive to the accomplishment of the purpose of this Agreement.

The AGENT agrees to indemnify FWD for whatever damage, loss or expense it may incur arising
from or in connection with the AGENT’s acting beyond the scope of his/her authority.

The AGENT may operate anywhere within Philippine jurisdiction, but shall have no exclusive
rights in any district or area assigned to him/her by FWD.

The AGENT is bound by his/her acceptance to carry out this Agreement, and is liable for the
damages that, through his/her non-performance, FWD may suffer.

The AGENT’s authority to act on behalf of FWD shall be limited to the solicitation of insurance
policies and does not include the authority to:
5.1 Effect novation which put an end to a CLIENT’s obligations to FWD already in existence
at the time this Agreement was constituted;

5.2 Compromise, submit questions to arbitration, renounce the right to appeal from a
judgment, waive objections to the venue of an action or abandon a prescription
already acquired;

5.3 Waive any obligation gratuitously; and

5.4 Exercise any other act of strict dominion.

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AGENT’S BUSINESS CONDUCT

6. Taking into account the various circulars, memoranda, Market Conduct Guidelines, rules and
regulations issued and promulgated by the IC, as part of the continuing requirements for the
validity of his/her license, and to avoid running afoul of the law, the AGENT undertakes to
conduct his/her business in accordance with the following established norms:

6.1 The AGENT shall observe proper conduct and decorum, and ethical business practices
in his/her dealings with FWD’s CLIENTs at all times.

6.2 The AGENT agrees to live out the core values of integrity and honesty, placing the
interests of FWD and its CLIENTs above and before his/her own, providing suitable
financial solutions to meet the CLIENT’s needs through life, variable life, accident and
health and such other insurance plans that are appropriate, reasonable and suitable.
The AGENT shall be liable for damages if, there being a conflict between his/her
interests and those of FWD, he/she should prefer his/her own.

6.3 The AGENT undertakes to be transparent in his/her dealings with CLIENTs and be
truthful about the features of policies and plans being offered. The AGENT must
communicate and present all applicable financial solutions and options, making full
and adequate disclosure of all facts necessary for the CLIENT to make the most
intelligent and best-informed decision.

6.4 The AGENT undertakes not to make any misrepresentation or false statement, or offer
a guess about FWD’s products in order to force a sale or lead a CLIENT to purchase an
insurance product or investment plan based on wrong premises and unconfirmed
information.

6.5 The AGENT undertakes not to break up a large coverage into multiple policies.

6.6 The AGENT undertakes not to recommend using all or part of cash surrender values
or fully or partially surrender an old policy to purchase a new policy, unless the
proposed plan would bring the CLIENT more benefit or lower the premium or shorten
the paying period.

6.7 The AGENT undertakes to provide after-sales services to his/her CLIENTs and their
respective beneficiaries.

6.8 The AGENT agrees to observe and comply with the provisions of the Insurance Code
including the Market Conduct Guidelines, all present and future policies of FWD not
otherwise applicable to its employees, the regulations of the IC, Securities and
Exchange Commission (SEC), Anti-Money Laundering Council (AMLC), National Privacy
Commission (NPC) and other government regulatory agencies, and the policies
adopted and implemented by the Philippine Life Insurance Association (PLIA), or any
duly registered self-regulatory organization.

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AGENT’S BUSINESS GUIDELINES

7. Solicitation. - The AGENT takes on the responsibility to personally see and meet the proposed
policy owner and insured (CLIENT) and see to it that the CLIENT is in good health before any
application, and ensure that the health statement or reinstatement form is personally signed
by the latter.

The AGENT commits not to make the CLIENT pre-sign any blank or incomplete form, such as
but not limited to the following: insurance application form, investment withdrawal form,
policy request form, and cash surrender request.

The AGENT undertakes to explain to his/her CLIENT the features of the FWD product the latter
intends to buy to ensure that the product was fully understood.

For VUL Insurance Policies, the AGENT assumes the responsibility of fully informing the CLIENTs
of the “15-Day Free Look Period” and explaining to them the gains and risks involved if the
investments chosen are linked partially or totally to equity and/or bond prices.

8. Underwriting. - The AGENT undertakes to disclose and accurately report to FWD every fact
and circumstance within his/her knowledge that is relevant to the acceptance of the
application for insurance, and agrees to indemnify FWD for his/her failure to do so.

FWD reserves the right to investigate any proposed business submitted by the AGENT without
giving any reason for such action.

9. Documentation. - The AGENT shall use such forms, documents, materials, electronic
application form (e-App) and other electronic documents as may be supplied to him/her by
FWD from time to time.

The AGENT commits not to fabricate, falsify, forge, substitute, alter, add, erase, delete or
otherwise make any unauthorized change or insertion in any document, whether physical or in
electronic form, used in the insurance business.

The AGENT undertakes not to make any application for change in policy, cash surrender,
reinstatement of policy, change in mode of payment of premium, or otherwise make any
application for amendment of the insurance policy without the written or electronic consent
of the CLIENT.

10. Premium Collection and Remittance. - For premium collection, FWD uses several payment
gateways including but not limited to over-the-counter bank payments, Dragon Pay, and Bayad
Centers as its payment facilities. In highly exceptional cases, and with prior approval of FWD,
the AGENT may accept from its CLIENTs premium payments for their insurance policy. Within
the next business day, the AGENT shall remit to FWD the premium payments he/she has
received. Official Receipts issued for premium payments may be sent to the CLIENT mail, email
or through the CLIENT’s customer portal. The AGENT owes interest on the sums he/she has
misapplied to his/her own use from the day on which he/she did so, and on those that he/she
still owes after the extinguishment of the agency.

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 10.1 The premium, or any portion thereof, which an AGENT collects from his/her CLIENT,
with prior approval from FWD, and which is to be paid to FWD because of the assumption
of liability through the issuance of policies or contracts of insurance, shall be held by the
AGENT in a fiduciary capacity and shall not be misappropriated or converted to his/her
own use or illegally withheld by him.

11. Delivery of Insurance Policy. - The primary means of delivering a life insurance policy to the
CLIENT shall be via email or registered mail to the address of the CLIENT. Exceptionally, and
only at the written request of the client, the AGENT, upon request of the CLIENT, may
personally deliver and hand over the Insurance Policy to his/her CLIENT and confirm that the
latter is still in good health.

The AGENT further commits to make the CLIENT complete a Policy Acknowledgment Form as
proof that he/she has delivered the Insurance Policy to the client and fully explained its terms.

AGENT’S REMUNERATION/COMMISSIONS

12. The AGENT shall be entitled to remuneration calculated in accordance with the Commission
Scheme attached herein as Annex A. FWD may, upon prior written notice to the Agent or by
means of an Agency circular, advisory, or guideline, change, alter, or revoke the AGENT’s
Commissions Scheme at its absolute discretion. FWD, through the same means, may also
change, revise, or discontinue any insurance product as it deems necessary.

13. On New Business - The AGENT shall have no claim for commission on any business unless
his/her name appears on the application as the licensed soliciting AGENT.

13.1 All business secured by more than one AGENT shall be considered as joint business.
Commissions shall be divided in accordance with existing policy of FWD among the
AGENTS whose names appear on the application. Commissions will be shared equally
among the said AGENTS, unless otherwise specified.

14. On Conversions, Amendments, & Reinstatements - When a plan or policy contract is amended
upon request of policyholder, the commission payable on the newly approved plan shall be
determined by the rules of FWD existing at the time of such amendment. The AGENT shall
have no claim for commission payment on the new plan, unless the reinstatement is effected
by the AGENT himself/herself.

15. On Reinstated Policies - When a lapsed policy is left unserviced by the agent on record or is
deemed orphaned by reason of the agent on record’s separation from the FWD, it may be
reinstated by an AGENT other than the original AGENT, provided that the reinstatement is done
90 days after the date of lapsation of the insurance plans. The new AGENT shall receive the
commission prospectively while the original AGENT shall forfeit all payable commissions to that
policy subsequent to such reinstatement.

16. Clawback on Cancelled and Rescinded Policies - Should FWD or the CLIENT cancel any issued
policy for any reason whatsoever and refunds the premium paid, the AGENT is obliged to pay
back all commissions, bonuses and other incentives on the premium refunded as well as other
incidental expenses incurred related to the cancelled plan. FWD shall automatically clawback
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 said amounts and charge them against the AGENT’s account, or make them demandable if the
AGENT is on debit status.

16.1 By extension, overrides, and bonuses of the AGENT’s Agency Leader/s shall also be
correspondingly clawed back.

LIMITATIONS OF AGENT’S AUTHORITY

17. Advancing of Premiums. - The payment of premium on an Insurance Policy is the

responsibility of the CLIENT. Hence, the AGENT undertakes not to advance on behalf of
his/her CLIENT payments for premium, or use any cash advance whether taken from FWD to
pay the CLIENT’s premium.

18. Rebate. - The AGENT commits not to pay any part of the premium, or offer any rebate or
discount on the premium, as an incentive or inducement for the CLIENT to secure an Insurance
Policy from him/her.

19. Replacement of Policies. - Replacement is generally discouraged unless done for good reason
and with the CLIENT’s express consent. Agents shall not replace CLIENT’s policies and facilitate
or induce any CLIENT to generate funds from cash values of existing policies to finance part or
all of the premiums for a new policy.

Management reserves the right to evaluate each application with replacement case submitted
as a replacement policy and make the necessary decisions to protect the interests of the
CLIENT and FWD. Cases will be monitored. Persistency should be safeguarded. But if ever
there are valid reasons for replacement, whether for business strategy, reduction of paying
periods, increased coverage, lowering of cost and the like, the following shall have to be
satisfied:

19.1 A Replacement Notification Form, required by the IC and designed to direct the
attention of the CLIENT to the replacement, must be attached to the insurance
application form and signed by both the CLIENT and the AGENT.

19.2 If suggested by the AGENT to the CLIENT, the AGENT, for underwriting consideration,
must submit in writing the reasons why replacement is being recommended. The
CLIENT should be made to understand the reasons and give his/her written consent
upon submission of the application.

19.3 If replacement is being done by an AGENT other than the original AGENT, the original
policy should first be protected by the number of payments needed to protect the
persistency of the originating agent by at least 2 or 3 annual payments or its
equivalent in months, quarters, or semesters.

19.4 If replacement is initiated by the CLIENT, the latter, for underwriting consideration,
should submit in writing the justifications for the replacement. The AGENT should
fully explain to the CLIENT the impact of such replacement, especially the aspect of
medical contestability and loss of cash values.

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 19.5 For the protection of the companies involved and the entire insurance industry, FWD
is committed to implement the circular on Replacement of Policies issued by the IC
and the PLIA or any duly registered self-regulatory organization.

20. Churning and Twisting. - The AGENT should not advise or induce a policyholder to use any
part of the cash or surrender values in an old insurance policy, regardless of its age, in order
to fund a new one. Funding a new policy with cash values of an old policy within FWD is called
Churning. Funding a new policy from cash, surrender or withdrawal values of a policy from
another insurance company is called Twisting. Both practices are violations of the Insurance
Code and the MCG.

21. Taking Loans. – Unless otherwise provided for in the Policy, the AGENT shall not encourage
the CLIENT to take loans on his/her insurance policy unless absolutely necessary. Loans should
benefit the CLIENT, not the AGENT. Loans should not be used to pay for new policies because
this affects the self-supporting ability of the policy and because of the policy loan interest
incurred.

22. Making Claims and Receiving Benefit Checks. - Policies must be in force at the time a claim
is made. The AGENT shall promptly report any claim or benefit made on a policy. The AGENT
undertakes not to enter into any arrangement to make any improper, invalid, or false claim.
The AGENT should assist policy beneficiaries in the best way they can, without charging them
any fee.

Claim checks shall be made in the name of the beneficiaries or the insured and shall be
personally claimed by, and released to them.

23. Personal Business Involvement. - The AGENT who acts as such is not personally liable to the
CLIENT with whom he/she contracts, unless he/she expressly binds himself/herself or exceeds
the limits of his/her authority without giving such CLIENT sufficient notice of his/her powers.
Aside from solicitation of insurance policies, the AGENT has no authority to negotiate or enter
into contracts on behalf of FWD.

While the IC prohibits the AGENT from representing more than one Life Insurance Company,
the AGENT is nonetheless allowed to engage in other business endeavors, provided they do
not conflict with his/her undertakings under this Agreement.

The AGENT is a master of his/her own time and can adopt his/her own selling methods. The
time, place and means of soliciting insurance are matters that are left to the AGENT’s own
judgment. The AGENT is not bound to observe any schedule of working hours or report to a
regular station in FWD.

24. Inducement and Anti-Poaching.

24.1 Poaching of AGENTs – The AGENT shall not induce any other agent, agency leader,
employee, or representative of FWD to leave its current service. The AGENT should
not commit any act that is prejudicial to FWD. This also applies within one (1) full year
from the separation of the AGENT from FWD.

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 24.2 Poaching of CLIENTs and Business In-Process – The AGENT should respect the
business and CLIENTs of other AGENTS and other distribution channels.

25. Non-Compete Clause.

25.1 Use of Facilities – The AGENT undertakes not to use the facilities provided by FWD to
conduct activities that directly or indirectly is prejudicial to FWD or benefit FWD’s
competitors or the latter’s affiliates.

25.2 Endorsements and/or Selling Products and Services of Competitors – The AGENT
undertakes not to endorse, offer, or sell products or services of FWD’S competitors or
the latter’s affiliates. In case of conflict with this undertaking, Agent shall immediately
inform FWD and shall ensure that all of Agent’s responsibilities to FWD under this
Agreement shall be faithfully and timely complied with.

25.3 AGENT whose Family has been Appointed as Agent by the Company’s Competitor –
The Agent undertakes to inform FWD whenever his/her spouse, child(ren), or
parent(s) is appointed as Agent by any of FWD’s competitors.

25.4 Conflict of Interest and other Representations – The AGENT undertakes not to
perform any act or render any service that is inimical to FWD’s interest.

26. Sales Illustrations, Publications, and Advertising. - To ensure full compliance with the
pertinent insurance laws, IC rules, regulations, and circulars:

26.1 Only official sales illustrations generated from the computer programs authorized by
FWD may be submitted to prospective CLIENTs for their evaluation prior to sale and
for permanent reference. Customized personal or agency sales illustrations with
projections shall not bind, and be honored by FWD unless previously sanctioned by
FWD in writing.

26.2 The AGENT undertakes not to publish training materials, advertisements, promos and
articles without the prior written authority and clearance from FWD. These include
media advertisement, sales and marketing flyer, poster, proposal, circular, letters or
post any internet web site, verbal references involving FWD or their affiliates in any
form of mass communications, such as TV, print, radio, internet, or computer media.

26.3 The AGENT shall be solely liable for, and shall completely indemnify FWD against, any
claim, damage or suit that may result from the use of any sales materials or sales
illustrations not sanctioned by FWD.

27. Jurisdiction. - Since the insurance business is under the jurisdiction of the IC and governed
by the Laws of the Republic of the Philippines, the AGENT’s license and authority to close the
sale of any product or policy shall be limited to, and can only be exercised within the territorial
boundaries of the Republic of the Philippines. Applications signed overseas shall be considered
invalid and will be rejected by FWD. Medical examinations and signing of forms can only be
performed within the territorial boundaries of the Republic of the Philippines.

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AGENT’S ACCOUNTABILITIES

28. Financial Obligations.

28.1 Advances against Future Commissions. - FWD reserves the discretion to

accommodate the AGENT’s request for advances and to require a security for its
payment. Advances made by the AGENT shall be treated as a loan, may be subject to
interest charges, chargeable and may be set-off against his/her commissions.

28.2 Unremitted Payment Collections (UPC) and Other Charges. - The AGENT
unconditionally authorizes FWD to set-off against any sum due him/her, whether in
the form of commission or otherwise, any UPC, penalty, interest charge, or financial
obligation owing by the AGENT to FWD.

28.3 Solidary Authorization Agreement. - The AGENT agrees to be solidarily liable for the
accountabilities of his/her spouse, parents, and children who have likewise been
appointed by FWD as its agents. For this purpose, the AGENT authorizes FWD to set-
off against any sum due him, whether in the form of commission or otherwise, any
financial obligation owed by his/her spouse, parents, and children arising from their
own appointment as agent.

29. Return of Undelivered Policy Contracts, Accountable Forms, Receipts, Data, CLIENT Files.

29.1 Upon termination of this Agreement, the AGENT shall promptly return to his/her
immediate agency leader, without necessity of demand, all undelivered policy
contracts, company receipts, forms, and documents.

29.2 The AGENT shall also immediately return to his/her Agency Leader all data and files
on CLIENTs, contact details such as latest addresses, telephone and mobile phone
numbers, the Agent’s Report, agency materials, paraphernalia, whether kept in
electronic form or otherwise, and such other properties which may have been used
or received in the performance of the AGENT’S duties and obligations. In this regard,
AGENT hereby undertakes to sign a Non-Disclosure Agreement (NDA) which is
attached and made an integral part of this document.

29.3 Upon termination of this Agreement, the AGENT shall sign a Sworn Affidavit attesting
that he/she is not holding any copy of, and has completely returned to FWD, the
above-enumerated documents, information and data.

TERMINATION

30. FWD may terminate the Agency immediately for any of the following causes:

30.1 The AGENT is being prosecuted or discovered to be prosecuted for any criminal
proceedings or is undergoing bankruptcy or insolvency proceedings or adjudged as
bankrupt or insolvent.

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 30.2 The AGENT’s license was revoked, cancelled, expired or in any way non-renewed. This
also applies to other government or regulatory licenses and/or approvals necessary
for the agent to render his/her services as AGENT of FWD.

30.3 By serving notice to the AGENT for breach of this Agreement or for committing any of
the following acts:
a) Fails to meet the agreed minimum performance of FWD in terms of production,
case count, persistency standard, manpower, active agent and other related
parameters set forth by FWD;
b) Serves another life insurance or any other industry affiliated with another life
insurance company, in whatever capacity, unless so authorized in writing;
c) Discloses any confidential or proprietary information of FWD or any of their
subsidiaries, affiliates, Agents or other persons associated now or hereafter with
FWD, without it’s prior written consent;
d) Participates, directly or indirectly, or in collusion with others, in filing improper,
invalid, false or fraudulent applications for insurance or claims with FWD,
including its affiliated companies;
e) Renders any false statement or misrepresentation in his/her application or other
related documents in order to be contracted as an Agent of FWD, or qualify for
incentives;
f) Manipulates sales to qualify for incentives, contest, conferences and promo of
FWD;
g) Resorts to unethical practices in solicitation of life insurance, including but not
limited to advancing of premiums, rebating, forgery, churning and twisting, kiting,
pooling;
h) Commits or attempts to commit, by himself/herself or in collusion with another,
attempts or acts to defraud FWD;
i) Fails to conduct his/her business with integrity, professionalism and ethical
standards required by FWD, IC, SEC, AMLC, NPC, BIR and/or other applicable
regulatory bodies;
j) Commits any other offense as shall affect the trust and/or confidence reposed on
him/her as an AGENT FWD;
k) Commits a violation of the Agency Code of Discipline for which penalty imposed
is termination; and
l) Commits such other acts beyond the scope of his/her authority as specified in this
Agreement.

31. FWD may also terminate the Agency immediately if any of the following occur:
31.1 Upon certification by a duly accredited doctor that the AGENT is totally or
permanently disabled to perform his/her duties as an AGENT on a regular and
continuing basis.
31.2 Upon the death of the AGENT.
31.3 Upon withdrawal of FWD from the territory in which the AGENT’s agency is operating.

32. FWD or the AGENT may terminate this Agent’s Agreement without cause by giving the other
party thirty (30) days advance written notice of the intent to terminate for the purpose of
reconciliation of accounts.

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EFFECT OF TERMINATION

33. Upon termination of the Agency, all the AGENT’s right to first year and renewal commissions,
if any, or any other remuneration shall cease immediately.

34. FWD shall be entitled to recover from the AGENT any overpaid/refundable commission
incurred as a result of insurance policy replacement, lapse of policy, surrender of policy or
refund which FWD is obliged to make to any policy holder.

35. The AGENT authorizes FWD to withhold for a period of ninety (90) days from the termination
of this Agreement any commission due and payable to him/her in order for FWD to set-off or
deduct overpaid/refundable commission arising from possible insurance policy replacements,
lapse of policy, surrender of policy, unauthorized premium collections, or similar instances.

36. The termination of the Agency does not extinguish the following obligations of the AGENT to
FWD:
36.1 pay all amounts and interest due to FWD;
36.2 prohibition to poach agents as stated in Sec. 24.1 of this Agreement; and
36.3 prohibition to commit churning, twisting, and switching of Company’s policies with
those of a third party as stated in Insurance Commission Circular No. 33-2013 and
other relevant law, rules, and regulations.

SUSPENSION OF AGENT CODE

37. Company has the absolute discretion to suspend the AGENT’s code pending his/her
investigation of any violation of the Company’s Agency Code of Discipline, Market Conduct
Guidelines, or any other relevant laws, rules, and regulations by the Company or by any
government agency/regulator. Agents who are suspended are not permitted to do the
following during the suspension period: (a) submit new business; (b) collect First Year
Premiums; (c) prospect for clients; (d) recruit or be involved in recruitment exercises, where
applicable; (e) receive overrides/commissions, where applicable; and (f) participate in any
contest, awards, and incentives.

38. However, agents are permitted and required to serve their clients in non-revenue generating
and non-financial tasks during the suspension period, including but not limited to: (a) service
or submit policy Withdrawal/Surrender/Policy Loan applications. In such cases, the
cash/check proceeds must be personally received by the client and not the Distributor; and
(b) submit administrative requests for existing clients.

MISCELLANEOUS PROVISIONS

39. Compliance with Agreement. The AGENT agrees to fully abide by the terms of this Agreement
as well as any addendum, circulars, advisories and guidelines to be issued in the future with
as much force and binding effect as if they were written into this Agreement.

40. Supplemental Agreement. Agency Leader Agreements may be issued to the AGENT once the
AGENT is appointed as an Agency Leader.

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41. Amendments. An amendment or variation to this Agreement or any applicable addendum,
circular, advisory and/or guideline is not effective unless issued in writing by FWD.

42. Notices/Communications. Any notice from one party shall be deemed to have been
sufficiently given if sent through any of the following means: (a) facsimile to the other party’s
known facsimile number, (b) registered mail to the last known address or address appearing
hereon or the registered office addresses of FWD, (c) official company electronic mail address,
or (d) the Agent’s personal electronic mail address provided and recorded by FWD in its files,
as the case may be. A notice sent by facsimile or electronic mail shall be deemed to have been
received by the addressee on the date it is sent.

43. Severability. If any part or a provision of this Agreement is judged invalid or unenforceable in
one territory, it is severed in that territory but such invalidity and unenforceability shall not
affect in any way the validity and enforceability of any other provisions of this Agreement.

44. Non-waiver of Rights. FWD’s failure or omission to take any immediate action on any breach
by the AGENT of any of the terms of this Agreement shall not be construed as a waiver of FWD
of its right to terminate this Agreement or as a release, consent or permission granted to the
AGENT not to act in accordance with this Agreement. FWD may pursue remedies available to
it under the applicable laws.

The AGENT, by signing on this Agreement, acknowledges and declares that he/she has read
and understood the contents of this Agreement and is thereby bound by the limits of his/her
authority and undertakes not to exceed the said limits as stipulated in this Agreement.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands this _________ day
of ___________________________.

FWD LIFE INSURANCE CORPORATION

By:

_______________________________________
CAMILO F. VELASCO JR.
VP and Head Distribution Operations

_______________________________________
Signature over Printed Name of Agent

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 Signed in the Presence of:

Signature Over Printed Name Signature Over Printed Name

Witness for FWD Representative Witness for the Agent

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