MEMORANDUM OF AGREEMENT

This Memorandum of Agreement made and entered into this ___ day of February 2022 by
and between:

PLANTERS PRODUCTS INC., a corporation duly organized and

existing underPhilippines Laws, with principal office at PPI Bldg.,
109 Esteban St., LegaspiVillage, Makati City, herein represented
in this act by its President and CEO, RANILO M. MADERAZO,
hereinafter referred to as “CLIENT”

-and-

DR. BONIFACIO F. CAYABYAB, Filipino, marriedof legal age,

with address/office at 7 D. Lantican St., Jubileeville, Masaya, Bay,
Laguna, herein referred to as the “TRIALIST”

WITNESSETH:

WHEREAS, the CLIENT is engaged in the business of manufacturing, and selling of

agricultural chemicals and other farm inputs including the importation, formulation and
distribution of such products;

WHEREAS, the CLIENT desires to hire the services of a TRIALIST for the conduct of Bio-
Confidence trial for the control of Green Leafhopper, Brown Planthopper, Stemborer,Leaf folder
and Rice Black Bug in Paddie Rice;

WHEREAS, the TRIALIST is an Agricultural research expert in the field of testing the bio-
efficacy of agricultural products used on plant crops. As such, the CLIENT has sought the
services of the TRIALIST and the latter has accepted the offer of the former under the terms
and conditions hereinafter stated;

WHEREAS, the TRIALIST will conduct the activity in the lowland irrigated rice field at
Maahas, LosBaños, Laguna (besides South Supermarket) which is sufficient to meet the
needed experimental area to be used for the abovementioned Trials/Researches.

NOW, THEREFORE, for and in consideration of the mutual covenants and stipulations
herein provided, the parties agree to enter into this agreement.

I. TERMS AND CONDITIONS

1. The CLIENT hereby engages the services of the TRIALIST to provide expertise in the
bio-confidence field trial of New Methomyl 40 SP and New Lambda-Cyhalothrin +
Thiamethoxam 247 SC by using new formulated product for the control of Green Leafhopper,
Brown Planthopper, Stemborer,Leaf folder and Rice Black Bug in Paddie Rice and other
related studies;

2. The CLIENT shall pay the TRIALIST the sum of PHP 234,000.00 (Two Hundred Thirty
Four Thousand Pesos), net of withholding taxes, with an initial payment of 60% amounting to
PHP 140,400.00 (One Hundred FourtyThousand and Four Hundred Pesos).The balance,
amounting to PHP 89,600.00 (Eighty Nine Thousand Six Hundred Pesos) will be paid in full
upon submission of the terminal report.

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 II. OBLIGATIONS OF THE PARTIES

1. Obligations of the CLIENT:

1.1. The CLIENT shall provide the TRIALIST with the materials and information necessary
and appropriate, such as the protocol, in order that the TRIALIST may perform his/her
task in an efficient and effective manner.

1.2. The CLIENT shall pay the TRIALIST in accordance with I (2) of this agreement.

1.3. The CLIENT further agrees that it shall pay the TRIALIST in a timely manner.

1.4. Authorized representatives of the CLIENT has the right to visit and monitor the progress
of the project anytime thereof;

2. Obligations of the TRIALIST:

2.1. TRIALIST shall conduct the trials, sample analysis and screen house, or field
experiments in accordance with the approved protocol for the study;

2.2. TRIALIST shall submit the final report of the trial including, but not limited to, raw data,
photo documentations and statistical analysis to the technical representative of the
product;

2.3. TRIALIST shall cooperate and facilitate the inspection of the trials by the technical
personnel of the CLIENT or its authorized representative whenever it requires; and

2.4. TRIALIST shall facilitate the operations (data gathering, fertilizer/pesticide

measurement and application, soil sampling and harvesting and post harvest activities)
for the conduct of the study;

2.5. The trial shall be completed by the TRIALIST within a duration of four (4) months unless
there will be a delay due to force majeure or “acts of God.”

III. FORCE MAJEURE

1. The TRIALIST shall not be responsible for delays resulting from causes beyond his/her
reasonable control and without its fault or negligence, including but not limited to, Acts of
God, health crisis, fire, explosion, flood, war, strike, or riot, provided that the TRIALIST uses
every reasonable efforts to mitigate the damage and continue to perform his/her obligation
under this Agreement with reasonable dispatch whenever such causes are removed.

IV. PERIOD OF AGREEMENT

1. This agreement shall take effect upon signing and shall remain in force until the
completion of the study or for the duration ofsix (6) months, unless sooner terminated by mutual
consent of all parties.

V. NON-COMPETE AND CONFIDENTIALITY CLAUSE

1. All copies of the materials, documents, papers and/or information that the TRIALIST
may come into possession of, in relation to the CLIENT’s business, shall be disclosed or

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surrendered/returned by the former to the latter immediately upon the termination of this
agreement;

2. All information/documents pertaining to the CLIENT shall remain confidential even after
the expiration of this agreement. The TRIALIST shall not, in whatever means or methods,
disclose such confidential information to a third party without the express written consent of PPI.

VI. AMENDMENTS

1. Any modification/amendment of this Agreement shall be subjected to the mutual consent

of all parties.

VII. VENUE OF LITIGATION

1. The parties hereby agree that any case, action, suit of litigation that may arise out of this
Agreement shall be brought to and instituted in Makati City only. In such event, the costs of suit
and damages shall be borne by the party at fault or at breach.

IN WITNESS WHEREOF, the parties have hereunto set their hands this
__________________________ at Makati City.

PLANTERS PRODUCTS INC.

(PPI)

By: By:

RANILO M. MADERAZO DR. BONIFACIO F. CAYABYAB

President and CEO Trialist

SIGNED IN THE PRESENCE OF

______________________________ _______________________________

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 ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF MAKATI )S.S.

BEFORE ME, a Notary Public for and in the above jurisdiction, personally appeared this
_____ day of __________________________ at _____________________________,
Philippines the following:

NAME TIN NO.

RANILO M. MADERAZO 128-434-835

DR. BONIFACIO F. CAYABYAB 115-270-546

Known to me to be the same persons who executed the foregoing agreement consisting
of four (4) pages including this page on which this Acknowledgement appears and they
acknowledged to me that the same is their voluntary act and deed.

IN WITNESS WHEREOF, I have hereunto set my hand and seal on the date and at the
place first above mentioned.

NOTARY PUBLIC

Doc. No.:
Page No.:
Book No.:
Series of 2022

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