DEED OF QUITCLAIM AND WAIVER

Know all men by these presents:

This Deed made and executed by:

____________________________ of legal age, Filipino, single/married, with residence and

postal address at _________________________, Philippines herein referred to as “The
Personnel”.
-in favor of-

_____________ a corporation organized and existing under the laws of ________________

with branch office at _____________________________, Philippines engaged primarily in
______________ herein referred to as “The Company”.

WHEREAS, the Personnel is an employee of the Company with the rank or position of
________________________________________________;

WHEREAS, due to the COVID-19 Pandemic, the implementation of Enhance Community

Quarantine (ECQ) all over Metro Manila and the strict travel restriction of international air travel
in the country, the Company ceased its operation to a minimum skeletal work force.

WHEREAS, due to the stoppage of its business operation, the Company suffered substantial
loss of income for the months of MARCH, APRIL and MAY and is currently under financial
distress.

WHEREAS, the Company gives a 14th month pay to all of its employee’s payable every June of
each calendar year.

WHEREAS, in view of the current economic status and the financial distress the Company is
experiencing, the Personnel, his/her heirs, successor and assigns has agreed to waive his/her
right to his/her 14th month pay benefit for the year 2020 and hereby agrees to keep the
Company free and harmless from any claim whatsoever arising out of or in connection with the
payment of the said 14th month pay benefit.

NOW THEREFORE, for and in consideration of the foregoing, the Personnel hereby agree as
follows:

1. The Personnel fully and comprehensively releases, forgives, quitclaims and discharges
the Company, its officers, directors, managers, representatives, successors and assigns,
and by these presents does hereby release, forgives, quitclaim and discharge the
Company, its officers, directors, managers, representatives, successors and assigns,
from claims, demands, obligations, liabilities, indebtedness, causes of action and
expenses for every type, kind, nature, description or character, whether known or
unknown, real or contingent, in connection with or arising out of the payment of his/her
14th month pay for the year 2020.

2. The Personnel hereby acknowledge that this waiver for the payment of his/her 14 th
month pay benefit for the year 2020 will result to a diminution of benefits due to
 him/her but nonetheless agrees, consent and voluntarily abandons his/her right to the
same as a sign of his/her support for the Company’s efforts to recover from its financial
losses.

3. In executing this Deed, the Personnel hereby acknowledges that he/she has not relied
upon any representation of nor any representation has been made by the Company. The
Personnel further acknowledged that he/she has made an independent assessment of
his/her reasons to waive his/her right to his 14 th month pay benefit for the year 2020
and that his/her decision (i) to release, forgive, quitclaim and discharge the Company
from any claim, demand, obligation, liability, indebtedness, cause of action arising from
the diminution of his/her benefits and (ii) to issue this Deed was based on his/her own
independent judgment.

4. The Personnel shall fully and comprehensively compensate the Company for any and all
costs and expenses which the Company may incur by reason of any claim or action field
by the Personnel against the Company arising out or in connection with this Deed of
Quitclaim and Waiver.

IN WITNESS WHEREOF, the Personnel has hereunto affixed his signature on this Deed on
this __________ day of _______________ at ___________________, Philippines.

_________________________________
Personnel
Competent Proof of Identity: ___________________

SIGNED IN THE PRESENCE OF:

_________________________________ and ________________________________

ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES)
__________________________) S.S

BEFORE ME, a Notary Public for and in the ____________________________, personally

appeared ________________________ who has satisfactorily established his/her identify
through the document written below his/her name and that he/she is the same persons who
executed and voluntarily signed the foregoing DEED OF QUITCLAIM AND WAIVER consisting of
two (2) pages including this page whereon this acknowledgment is written, signed by the party
and the witnesses and acknowledged to me to be their FREE AND VOLUNTARY ACT AND DEED.

WITNESS MY HAND AND SEAL on the day and in the place first above written

Doc. No. _____:

Page No. _____;
Book No. _____:
Series of 2020.