REPUBLIC OF THE PHILIPPINES }

CITY OF _____________________ } s.s.

DEED OF ABSOLUTE SALE OF EQUIPMENT

KNOW ALL MEN BY THESE PRESENTS:

This Deed of Absolute Sale is made and executed this ___________________ in

___________________ by and between:

, of legal age, single/married, Filipino, and

a resident of (hereinafter referred to as
the "SELLER");
- and -

, of legal age, single/married, Filipino, and

a resident of (hereinafter referred to as
the "BUYER"),

WITNESSETH THAT:

For and in consideration of PESOS (P ), the receipt

and sufficiency of which is hereby acknowledged, the undersigned do hereby covenant and agree
as follows:

1. Seller hereby sells, conveys and transfers to Buyer all rights on and ownership of equipment,
social media accounts and/or trade secrets listed on Schedule A, attached to this Deed of Ab-
solute Sale;

2. Upon acceptance by Buyer of the equipment, which acceptance shall be identified by Seller
taking possession of the equipment, such acceptance shall acknowledge that the equipment
has been inspected and is in good order and condition and that Buyer is satisfied with the
same;

3. Buyer agrees to pay unto Seller the full amount upon conveyance of the said equipment;

4. Seller represents that he owns all equipment described herein free and clear and that such
equipment is free of all liens and encumbrances;

5. All maintenance and repair costs to the equipment shall be paid by Buyer, and Seller is
hereby relieved from any responsibility to maintain or repair said equipment;

6. Seller likewise agrees not to compete with the BUYER or its successors or assigns relative to
the use of the equipment, social media accounts and/or trade secrets subject of this sale for a
period of three (3) years from the execution of this Deed. The term "not compete" shall mean
that the SELLER shall not directly or indirectly compete with the BUYER by serving as an
officer, owner, partner, director, agent, employee or consultant to any entity substantially en-
gaged in a business similar or competitive to the business of the BUYER relative to the use
of the equipment, social media accounts and/or trade secrets subject of this sale; and

7. While the SELLER is prohibited from engaging in the same business as stipulated in the pre-
vious clause, the SELLER has the opportunity to join the BUYER in the latter's business, if
the former so desires, and subject to the mutual agreement of the parties.

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 IN WITNESS WHEREOF, the parties have hereunto set their hands at the place first
written above.

Seller Buyer

SIGNED IN THE PRESENCE OF:

 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES }

CITY OF _____________________ } s.s.

BEFORE ME, a Notary Public for and in the city named above, personally appeared:

NAMES OF PARTIES GOV'T ISSUED ID VALIDITY

who have satisfactorily proven to me their identities through their valid identifications above,
and are personally known to me to be the same persons who executed and voluntarily signed the
foregoing "Deed of Absolute Sale of Business", which they acknowledged before me as their
free and voluntary act and deed.

The foregoing document consisting of two (2) pages, including this page on which the ac-
knowledgment is written, has been signed on each and every page by the parties and their wit-
nesses.

WITNESS MY HAND AND NOTARIAL SEAL, this

in , Philippines.

Doc. No. _____;

Page No. _____;
Book No._____;
Series of 2022.

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