CONTRACT OF CALAMITY LOAN

Know all men by these presents.

This agreement is made and entered into by and between:

________________, a corporation duly organized and existing by virtue of

Philippine laws with principal address located at _________________, Cebu City,
Philippines, represented herein by its President MR. _______________, hereinafter
referred to as “CREDITOR”

-and-

_________________, of legal age, Filipino, (civil status), and a resident of

__________, hereinafter referred to as “DEBTOR”

WITNESSETH:

WHEREAS, the DEBTOR is an Employee of CREDITOR;

WHEREAS, the DEBTOR is in dire need of financial assistance due to damages he

or she has sustained by virtue of calamity and/or pandemic;

WHEREAS, the CREDITOR is not in the practice of lending money to its employees
but is making an exception due to the urgency and gravity of the circumstances brought
about by the Corona Virus Disease 2019 and Typhoon Odette which severely affected
the financial stability of its employees;

WHEREAS, the DEBTOR applied for loan from the CREDITOR and the latter
approved the application;

WHEREAS, the DEBTOR and CREDITOR shall be collectively referred to as

“PARTIES”;

NOW THEREFORE, premises considered, the PARTIES have agree on the

following terms and conditions, as follows:

1. AMOUNT OF LOAN. The loan amount is ____________ PESOS

(P_________.00), Philippine Currency with a monthly interest of __ percent (_
%) per month;

2. PAYMENT. The principal amount shall be paid in _______ (___) months time
counted from the day this agreement is signed including the accrued interest;

The Parties agree and the DEBTOR EXPRESSLY CONSENTS that payment of the
loan shall be made on a monthly basis and shall be deducted from the monthly
salary of the DEBTOR;

In the event that the Debtor resigns or is otherwise terminated from the
company of the Creditor, he or she expressly consents to the deduction of the
outstanding balance of the loan, if any, from his or her Final Pay, without
 prejudice to any remedy or court action which the Creditor may avail in case
the outstanding balance of the loan exceeds the amount of the Final Pay of
Debtor; Provided, that no clearance and/or Certificate of Employment shall be
issued in favor of Debtor unless the Amount Loaned has been fully paid;

3. NATURE OF LOAN. The Debtor understands and agrees that the grant of the
Amount of Loan under this Contract of Calamity Loan is by no means a bonus,
emolument, or benefit accorded to him or her by virtue of his or her
employment, thus he or she is not entitled thereto, but is a mere act of
benevolence and assistance on the part of Creditor, taking into consideration
the difficulty of the times brought about by calamity and pandemic;

4. TAXES. The DEBTOR agrees to shoulder the payment of the Documentary

Stamp Tax;

5. VENUE OF COURT ACTION. The PARTIES agree that any court action of
whatever nature arising from this agreement shall only be filed in the proper
courts of Cebu City, to the exclusion of other courts.

IN WITNESS WHEREOF, the PARTIES have set their hand this __ th day of June
2017 in Cebu City, Philippines.

____________________ ____________________
DEBTOR CREDITOR

Represented by:

____________________
President

Signed in the presence of:

_________________________ and ________________________

ACKNOWLEDGMENT

Republic of the Philippines)

City of Cebu…………………………………..)s.s.
x--------------------------/

BEFORE ME, a Notary Public for and in the Cebu City, this ___ day of
____________ 2022 personally appeared:

IDENTIFICATION PRESENTED

_________________ ________________________

_________________ ________________________

all known to me to be the same persons who executed the foregoing contract and they
acknowledge to me that the same are their free and voluntary act and deed. This
contract is consists of three (3) pages including this page where the acknowledgment is
written.

Doc. No.____;
Page No.____;
Book No.____;
Series of 2022.