EMPLOYMENT CONTRACT BETWEEN MERCHANT AND MANAGER KNOW ALL MEN BY THESE PRESENTS: That this agreement made

this _______th day of ________________________________, 20___, between ________________________________, of legal age, single (or, married to ________________________________), and a resident of ________________________________ hereinafter called the MERCHANT, and ________________________________, of legal age, single (or, married to ________________________________), and a resident of ________________________________, hereinafter called the MANAGER. WITNESSETH: That the MERCHANT and the MANAGER, in consideration of the mutual covenants and agreements made herein, by the one to the other, by these presents enter into a contract of services, whereby the MERCHANT hires and employs the MANAGER under the following terms and conditions: 1. The MERCHANT shall employ the MANAGER for a term of ____________________________(____) years from the date hereof as MANAGER of the MERCHANT's business of ________________________________ now carried on at ________________________________. 2. The compensation or salary to be paid by the MERCHANT to the MANAGER for the services to be rendered by the latter to the former shall be a salary at the rate of ________________________Pesos (Php______) per month payable on or before the ___15th and 30th __ day of the month and shall also pay to the MANAGER a commission of ________________ per cent per annum on the net profits of said business, such commission to be paid within ____________ days after the annual accounts have been certified by accounts employed by the MERCHANT, whose certificate as to the amount of such net profit shall be conclusive. 3. The MANAGER shall well and faithfully serve the MERCHANT in such capacity as aforesaid, and shall at all times devote his whole time, attention, and energies to the management, superintendence, and improvement of said business to the best of his ability, and shall do and perform all such services, acts, and things connected therewith as the MERCHANT shall from time to time direct, and are of a nature properly belonging to the duties of MANAGER. 4. The MANAGER shall keep or cause to be kept all necessary books of account or such other books as the MERCHANT shall provide for that purpose, and shall enter or cause to be entered therein the usual accounts or particulars of the price of all goods and things purchased and sold upon credit or otherwise in the course of said business and

shall, at all times, render to the MERCHANT accurate accounts and full statements of and concerning said business. 5. It is understood that the duties of the MANAGER shall only be of supervisory nature, and that he shall not be held accountable in any manner whatsoever for the property or funds belonging to the business, it being incumbent upon the MERCHANT to employ a bookkeeper and a cashier whom he trusts. 6. All moneys received by the cashier, except such sum as shall be required to be retained as petty cash, shall be deposited to the account of the MERCHANT in the ________________________________ Bank, on the day next following the day of receipt, and every payment in excess of ________________________________ pesos shall be made by check drawn on such account. The MANAGER shall not draw, accept or make any bill of exchange of promissory note on behalf of the MERCHANT, or otherwise pledge his credit except insofar as he may have been thereto expressly authorized by the MERCHANT. 7. The MANAGER shall not divulge any matters relating to said business or to the MERCHANT or to any customer which may become known to the MANAGER by reason of his employment or otherwise, save in so far as may be necessary in the interests of the said business. 8. Either party may terminate this contract without cause by giving to the other _____________(___) months' notice in writing, but without prejudice to any right or claim which, as of that date, may have accrued to either of the parties hereunder. In the event of a breach of this contract, the MERCHANT may terminate this agreement without notice or payment of salary or commission as hereinabove provided. IN WITNESS WHEREOF, the parties hereto have set their hands this _____ day of ___________________, 20____ in ________________________________, Philippines.

________________________________ MERCHANT

________________________________ MANAGER

SIGNED IN THE PRESENCE OF: ________________________________ ________________________________