CONTRACT

KNOWN ALL MEN BY THESE PRESENTS:

This Contract made and entered into by the between:

CHESVET STEEL CORPORATION with office at Mexico, Pampanga represented

herein by _________/OWNER, and by virtue of the powers conferred upon him,
hereinafter referred to as the “CHESVET STEEL CORP.”.
-and-

ENGR. JOSE RIZALDY A. DE ARMAS, a professional electronics engineer

duly licensed and existing under the laws of the Philippines, with postal address at Unit
Y DM Bldg. 1 ,2F, Summer Meadows Subd., Salitran 3,Dasmariñas City, Cavite
hereinafter referred to as the ENGINEERING CONSULTANT.

WITNESSETH:

WHEREAS the Engineering Consultant represents that it has the capacity,

capability and the required expertise to undertake the PROFESSIONAL
ENGINEERING CONSULTANCY OF CHESVET STEEL CORPORATION
located in Mexico, Pampanga.

NOW THEREFORE, for and in consideration of the foregoing premises,

the parties hereto hereby agree and stipulate as follows.

I. SCOPE OF WORKS
That the scope of work of the Professional Engineering Consultant, as
herein authorized by the CHESVET STEEL CORPORATION, for the project
herein referred to consist of the following services:

1.1 Provide guidance to the management in Identifying the necessary technical

needs and documentations needed in compliance with government regulatory
requirements (BFP, DOLE and LGU).
1.2 Preparation of the scope of works and specifications of the technical services
request and help in the conduct of bidding process.
1.3 Provide technical assistance to the management in the evaluation of bids.
1.4 Assist the management in dealing with contractors/suppliers regarding
technical matters.
1.5 Provide technical evaluation for the needed proposed and as-built plans of the
building and relevant structures.
1.6 Review and check the submitted designs, plans, and documentations by the
selected contractor.
1.7 Assist in the preparation of documents needed in the application process for
(BFP, DOLE, and LGU).
1.8 Provide guidance and presence during every technical inspection to be
conducted by (BFP, DOLE, and LGU).
1.9 Issuance of the required certification of safety, reliability and conformity from
professional engineers.
1.10 Recommend countermeasure activities for the findings to be given by
(BFP, DOLE, and LGU).
1.11 Submission of sign and sealed technical reports by professional engineer.
1.12 Assist in the submission of requirements to (BFP, DOLE, and LGU) for
the acquisition of the necessary permits.
 1.13 Submit recommended activities for Plant maintenance and improvement.
1.14 Provide guidance to the management for the needed project
implementation by providing scope of works and technical specifications.
1.15 Assist in the preparation of punch listing activities for the projects
conducted by external contractors.
1.16 Assist in the supervision of in-house project implementation and
preparation of the necessary documents for permit application.
1.17 Provide preventive maintenance service training for the newly hired
technical personnel.
1.18 Serve as in-house professional engineer in lieu of hiring the required
technical personnel.
1.19 Report on-site at least thrice a month or as needed and provide assistance
to look for technical professional as needed.

II. CONTRACT PRICE AND CONSULTANCY PERIOD:

2.1 The annual contract price is therefore amounting to FOUR HUNDRED

EIGHTY THOUSAND PESOS ONLY (Php 480,000.00);

2.2 The CHESVET STEEL CORPORATION agrees to pay the

Professional Engineering Consultant services as Professional Fee of
Forty Thousand Pesos Only (Php 40,000.00) to be given every first
week of the month;

2.3 The contract shall commence on the November 1, 2023 to November 1,

2024. That this agreement is mutually considered renewed every year
thereafter unless written notice of termination or cancellation is served by
either party to the other at least thirty (30) days in advance;

2.4 Electronics Certification to be issued shall be valid only for one year from
the date signed and sealed;

2.5 After the work has been completed, the CHESVET STEEL
CORPORATION Representative shall certify to the completion.

III. GENERAL CONDITIONS

3.1 Proprietary Rights of the CHESVET STEEL CORPORATION : All

reports, drawings, documents and materials complied or prepared in
the course of performance of the services shall be owned by the
CHESVET STEEL CORPORATION and may be used by the
Consultant for the purposes unrelated to this Contract only with the
prior written approval of the CHESVET STEEL CORPORATION.
Copies of any such documents prepared in connection with the
performance of the services shall be submitted to the CHESVET
STEEL CORPORATION before final payment.

3.2 The CHESVET STEEL CORPORATION shall not be responsible for

the life, health, accident, travel and other insurance requirements of
the personnel of the Engineering Consultant.

3.3 The workers employed for this specific project are solely the employees of
the Engineering Consultant. Their compensation, supervision and control
shall be the Engineering Consultant exclusive responsibility. The
Engineering Consultant shall likewise be responsible for any liability
resulting from statutory increases in wages and allowances, accidents,
injuries, sickness or death any of its employees may suffer while
performing their duties, and to third party liabilities. There shall be no
 employer-employee relationship between them and CHESVET STEEL
CORPORATION.

3.4 Changes in the Scope of Work : The CORPORATION may, through

a written notice, instruct the Engineering Consultant to perform
changes or alterations in the services. The Engineering Consultant
shall make no changes, alterations or omissions without the prior
written approval of the CHESVET STEEL CORPORATION.

3.5 Change of Administrative/ Representative : This Contract shall

continue to take effect until the complete delivery of the services
by the Engineering Consultant and shall not be terminated by a change
in the administration / representative herein referred to as the
CHESVET STEEL CORPORATION .

3.6 Laws and Regulations of the Philippines : This Contract shall be

governed by the laws of the Republic of the Philippines. The
Engineering Consultant and its personnel shall comply with any
applicable laws, rules and regulations and shall take prompt
corrective action with regard to any violation or violations of
which they are aware.

3.7 Validity Clause : If any term or condition of this Contract is

held invalid or contrary to law, the validity of other terms and
conditions hereof shall not be affected thereby.

IV. EFFECTIVE DATE: MISCELLANEOUS

4.1 Amendments: No amendments, modifications or alterations to

this Contract shall be valid or binding on either party unless
expressed in writing and executed with the same formality as this
Contract.

4.2 Counterparts: This Contract as executed and delivered in five (5)

copies, three (4) copies retained by the CHESVET STEEL
CORPORATION and one (1) for the Engineering Consultant, each
of which shall be deemed original.

IN WITNESS WHEREOF, the parties have hereunto set their hands this
________ day of __________________________________, at
_________________________________, Philippines.

CHESVET STEEL CORPORATION ENGINEERING CONSULTANT

By: By:

JOSE RIZALDY A. DE ARMAS,

PECE
General Manager Professional Electronics Engineer

Signed in the presence of:

_____________________________ _____________________________
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

Dasmariñas, Cavite ) S.S.

BEFORE ME, a Notary Public for ______________________,

_______________ this __________ day of __________________, 20 ______, personally
appeared:

Name Com. Tax. Cert. No. Date/Place Issued

_____________________________________

Engr. Jose Rizaldy A. De Armas ______________________________________

PRC# 0000194 Valid Until Dec. 29, 2024, Cavite

known to me be the same persons who executed the foregoing instrument and
acknowledged to me that same is their free act and deed as well as the
corporate act and deed of the corporation which they represent.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial

seal on the date and at the place first written above.

Doc. No __________
Page No. __________
Book No. __________
Series of: __________