PPC ONE ESTATE CORPORATION

4/F Tradenology Center – 1008 Quezon Ave.

Paligsahan D4, Quezon City, Philippines 1103
Tel No.: 376-5764 to 67/411-7376 / 413-1028

NOTICE OF AWARD / NOTICE TO PROCEED

GLOBALTRONICS INC.
349 Globaltronics Building, Ortigas Ave.
Wack Wack Greenhills East, Mandaluyong City
Metro Manila, Philippines 1554

Attention : Mr. Reichard B. Musngi

Sales Director

Greetings:

This is to serve as notice to GLOBALTRONICS, INC. to start the Supply and Installation of
Outdoor LED Display for the Proposed 26 Storey Office Building with Penthouse (THE UPPER
CLASS) located at Quezon Avenue cor. Scout Reyes St. Quezon City for the following terms and
conditions describe below.

1. Delivery, Supply and Installation of Outdoor LED Display PIO;

1.1 Size: 5.76m (W) x 7.68m (h) = 44.2368 sq. m

1.2 Inclusive: Computer Central System, Structure & Cladding (cabinet type) SMD

2. Cost: The total lump sum cost in PESOS shall be: FIVE MILLION SEVEN HUNDRED
THOUSAND & 00/100 (P 5,700,000.00) ONLY, inclusive of VAT for the Supply and Installation
of Outdoor LED Display.

3. Mode of Payment: 50% down payment upon receipt of order (10% of down payment payable
on December 21, 2018 and 40% balance of down payment payable on June 31, 2019), and
40% balance thru progress billing, 10% Retention after acceptance.

4. Any and all work items, whether major or incidental, in the performance of the work necessary
and vital to complete the real intent of the contract documents that are clearly indicated in the
plans, drawings however, can be and should be planned ahead, identified and/ or foreseen;
should be brought to the attention of the Owner and/ or Architect before the start of the
construction for inclusion in the amount tendered. It is also understood that in the event of
failure to do so, it shall be construed as being included as part and parcel of the contract
amount with full knowledge of the kind, quality and quantity of articles and services required.

5. Project Duration: Duration of work shall be 30 days from the date of receipt of down payment
or upon mobilization.

6. Change Order: No change order/ additional work shall be implemented without prior approval
from the Owner.

7. Damages: Liquidated damages shall be computed as 1/10 (one-tenth) of (1) one percent of
total contract price for every day of delay effective 10 (ten) calendar days after agreed
completion date.

Further, damages shall be charged due to the undisposed surplus materials and rubbish from
the premise, unless prevented by any unavoidable cause or causes. In which case, the owner
shall give the undersigned a reasonable period of ten (10) days within which to remove said
surplus, materials and rubbish. Indemnity for any damages, losses and expenses incurred by
the owner by reason of the failure to remove such rubbish and materials shall be in the
liquidated amount of ten thousand pesos (Php 10,000.00) per day of failure to dispose of the
said rubbish and similar materials.

8. Acceptance: All items indicated in the plans, which are accepted and without exclusion, shall
 also be considered as part of the work items of the total project contract amount.

9. Conditions on the retention: Ten percent (10%) of the contract amount shall be retained by
the Owner after acceptance of the project and shall only be released upon approval of the
designated Officers of the Owner with the following condition/s;

9.1 Completion of all the punchlist works, submission of plans/manual and completion of
labeling of items;

9.2 After the Duration of Warranty;

9.3 Certificate of Completion signed by the designated Officers or by Owner.

10. Warranties:

10.1 Globaltronics warrants that the product will be free from factory defects in material and
workmanship.

10.2 One (1) Year Warranty on LED bulbs upon Commissioning & Acceptance of
Certificate of Completion.

10.3 One (1) Year Warranty on parts and services upon Commissioning & Acceptance of
Certificate of Completion.

10.4 Free Quarterly LED PMS with in one (1) year or four (4) times with in warranty period.

11. Technical Assistance:

11.1 Globaltronics to undertake final inspection for defects/corrections;

11.2 Globaltronics to conduct one full day Operator and Maintenance trainings to unlimited
participants free of charge;

11.3 Globaltronics to submit the list of requirements from Local Government and other
agencies.

Issued/Endorsed by:

PPC ONE ESTATE CORPORATION

KRISTINE S. CO
Chief Compliance Officer

Conforme :

GLOBALTRONICS, INC.

By : Mr. Reichard B. Musngi_

Position : Sales Director

Date : ________________________