Loan Agreement

This LOAN AGREEMENT (Agreement) is entered into on AUGUST 10, 2019 by and between:

GLOBAL CREDITPROS CORPORATION, a corporation with principal office address at Unit 3B, No. 6805, Multinational Bancorp Center,
Ayala Avenue, Makati City (the Lender);

-and-

ESPERANZA PALICPIC , Filipino, of legal age, with residential address at B82 L7 CARISSA HOMES - PHASE 1A, BAGTAS TANZA,CAVITE
PHILIPPINES 4100 (the Borrower);

(Each of the Lender and the Borrower are sometimes referred to in this Agreement as a “Party” and together the“Parties”).

RECITALS:

WHEREAS, the Lender is willing to establish a loan facility in favour of the Borrower, and the Borrower agrees to borrow such funds as
agreed hereunder, full amount of which is acknowledged to have been received by the Borrower, with effect from the date hereof,
under the terms and conditions set forth below.

NOW THEREFORE, for and in consideration of the foregoing premises, and the terms and conditions hereinafter set forth, the Parties
agree as follows:

1. Amount

Lender agrees to extend a loan to the Borrower in the principal aggregate amount of Php 20,000.00 TWENTY THOUSAND (the
Principal).

2. Interest

The Principal plus an interest of FIVE percent ( 5%) per month or 120% per annum (collectively referred to as the Loan) as
demonstrated in the Payment Schedule herein attached as Annex “A,” shall be repaid on NOVEMBER 07, 2019 . Interest shall be
computed based on the original principal amount.

The interest shall be compounded monthly and will continue to accrue until full payment of the total outstanding and unpaid
amount plus the accrued interests and penalties.

. 3 Repayment/Prepayment

Any Borrower may prepay any part of the outstanding principal, or as may be agreed by the parties from time to time, provided that
such Borrower shall give the Lender at least five (5) business days’ prior written notice of any such prepayments, and provided, further,
that such Borrower is not in default in the payment of any sum due under this Agreement.

. 4 Application of Payment

Any amount paid by the Borrower shall cover the following amounts in the following order of priority: (1) penalties, if any; (2) accrued
interests and; (3) amount of the Principal.

5. Representations and Warranties

The Borrowers represents and warrants to the Lender as follows:

a. He/she has full legal right and power to enter into, execute and perform this Agreement and has taken all the necessary action
and obtained all necessary consents, approvals and authorizations in connection with the execution, performance and delivery
hereof.

b. This Agreement constitutes his or her legal, valid and binding obligation, enforceable in accordance with its terms.

c. No event has occurred and is continuing or would result from the making of this Agreement which constitutes an Event of
Default as defined under Paragraph 9 of this Agreement, or which, upon a lapse of time or giving of notice or both, would
become an Event of Default.

d. All information heretofore or hereafter given to the Lender by the Borrowers for and in connection with this Agreement or
pertaining to the Borrowers’ financial condition, properties and assets are, to the best knowledge of the Borrowers, true and
correct in all material respects.
 e. He/she do not have intentions of resigning, going on leave of absence, paternity/maternity within the terms of this loan as Global
CreditPros is entering into this agreement on the belief and understanding that the lender will deduct the payment from the
borrower’s salary through direct salary deduction.
f. The representations and warranties contained herein shall survive the execution of this Agreement until the entire loan and any
other amount specified in this Agreement shall have been fully paid.

6. Conditions Precedent

The Parties understand and agree that the obligation of the Lender to establish a loan facility in favour of the Borrower shall be subject
to the delivery by the Borrower to the Lender of each of the following items:

a. A duly accomplished co-maker’s undertaking, as provided under Annex “B” of this Agreement.

7. Events of Default

Each of the following events constitutes an Event ofDefault under this Agreement regardless of the reason for its occurrence and
whether it is voluntary or involuntary or occurs as a result of any court order, law or regulation:

a. any default in the payment when due of any sum payable under this Agreement within and after the Maturity Date/s stated in
Annex “A” hereof;

b. any material representation or warranty made by any Borrower herein or otherwise in connection herewith, or any certificate or
statement delivered by the Borrower hereunder or in connection herewith shall prove to have been untrue, incorrect or
misleading as of the time it was made or deemed to have been made;
c. any violation any other provision, term, condition, covenant or obligation contained in this Agreement andany such failure or
non‑compliance is not remediable or, if remediable,continues unremedied for a period of thirty (30) days from the date after
written notice thereof shall have been given by the Lender; and
d. any material adverse change in the financial condition of any of the Borrowers shall have occurred that, in the opinion of the
Lender, gives reasonable grounds for a belief that such Borrower may not (or may not be able to) perform his or her obligations
under this Agreement.

8. Consequences of Default

If an Event of Default shall have occurred, then at any time thereafter, if such event shall then be continuing and remains unremedied
or has not been unconditionally waived by the Lender (such remedy or waiver, as the case may be, being to the satisfaction of and
having been approved in writing by the Lender), the Lender may, at its sole discretion, by written notice to the Borrowers, demand full
payment of the entire unpaid Loan, plus an interest of TEN percent (10%) and penalty equivalent to TEN percent (10%) of the total
outstanding and unpaid Loan, whereupon all such amounts shall become and be forthwith due and payable without presentment,
demand, protest or further notice of any kind, all of which are hereby expressly waived by the Borrower. Penalty is computed every
scheduled payment or every 15 days until the loan is full paid.

The foregoing provisions notwithstanding, the Lender shall likewise have the right to exercise all other legal rights and remedies
mentioned the following paragraphs.

9. Convenience Fee

The convenience fee shall be ONE percent ( 1%) of the principal and paid by the borrower in advance for the processing of the loan.

10. Fees, Costs and Expenses

The Borrower hereby undertakes to pay the Lender the sum of ONE THOUSAND FIVE HUNDRED Pesos (Php 1,500.00) for every
dishonored check due to following reasons: (a) check drawn against insufficient funds; (b) uncollected deposit; (c) stop payment
order; or (d) closed account.

In the event that the Lender is constrained to seek legal counsel to protect interest and enforce its right to collect the Loan through
any lawful means, including but not limited to the extrajudicial foreclosure of mortgage and the filing of any action in court to
demand the payment of any due and unpaid amount under this Agreement and enforce liability for issuance of worthless checks, the
Borrower, in addition to the penalties under the foregoing provisions, undertakes to pay the Lender the following fees:

a. Negotiation Fees (including but not limited to meetings, conferences, and consultations through telephone/txt/email) equivalent
to Php 1,000.00 per hour (any portion of an hour shall be considered as one hour);
b. Liquidated Damages equivalent to TWENTY percent (20%) of the total outstanding and unpaid amount of the Loan (see Annex
“A”);

c. Attorney’s fees equivalent to TEN percent (10%) of the total outstanding and unpaid amount of the Loan; and
d. Costs and expenses of litigation, if any.

11. Certificate of Lender Binding

 Any written notice delivered by the Lender in accordance with this Agreement as to the amounts of principal of, and charges, fees
and expenses due and payable at any time by the Borrower under this Agreement, shall, in the absence of manifest error, be binding
upon the Borrowers and any third party and shall be conclusive evidence in any legal proceedings with respect to this Agreement.

12. Waiver, Cumulative Rights

The rights, powers and remedies of the Lender provided for in this Agreement are not exclusive of, but are in addition to, any other
rights, powers and remedies that the Lender may have under applicable law. In addition, such rights, powers and remedies of the
Lender under this Agreement are grantedfor the exclusive benefit of the Lender, and the Lender may not be compelled to exercise
any of such rights, powers and remedies; nor shall theLender be liable to the Borrowers or any other person for any action taken or not
taken by it under this Agreement. No failure to exercise or delay in exercising on the part of the Lender of any right, power or remedy
under this Agreement shall operate as a waiver thereof; nor shall any single or partial exercise of any right, power or remedy under this
Agreement preclude any other or further exercise thereof or the exercise of any other right, power or remedy. No modification or
waiver of any ofthe terms, conditions and provisions hereof shall be implied from any course of dealing or subsequent act or conduct
hereunder. No waiver of any provisions of this Agreement may be validly made except in writing.

13. Amendments, etc

This Agreement constitutes the entire agreement of the parties hereto with respect to the subject matter hereof and shall supersede
any prior expressions of intent or agreement with respect to this transaction. No provision of this Agreement may be amended,
waived or otherwise be modified except by an instrument in writing executed by both parties.

14. Severability of Provisions

If any one or more of the provisions contained in this Agreement or any other document executed in connection herewith shall be
invalid, illegal or unenforceable in any respect, the validity, legality and enforce ability of the remaining provisions contained herein
shall not in any way be affected or impaired.

15. Assignment

This Agreement shall be binding upon and shall be enforceable against the Borrower, the Lender and their respective successors and
assigns, except that the Borrower shall not have the right to transfer its rights or obligations hereunder without the prior written
consent of the Lender.

16. Liability

If there are two or more Borrowers in this Agreement, the obligations of the Borrowers under this Agreement shall be joint and several
or solidary.

17. Confidentiality

The Parties agree to hold in absolute confidence any information not generally available to the public in connection with this
Agreement or the transactions contemplated hereunder. All notices to third parties and all publicity concerning the transactions
contemplated under this Agreement shall be jointly planned and coordinated between the Parties and no Party shall act without the
prior approval of the other, which approval shall not be unreasonably withheld.

18. Governing Law

This Agreement and such other agreements incorporated herein by reference or executed in relation to this Agreement shall be
governed by and construed in accordance with the laws of the Philippines. For the benefit of the Lender, the Borrower agrees that
the courts of the City of Makati, Philippines shall have exclusive jurisdiction to settle any disputes under this Agreement.

Signing the Document

Agree to the following terms and conditions to continue signing Loan Agreement.

I do not have intentions to resign.

I do not have intentions to make any type of leave of absence.
I do not have intentions to go on maternity/paternity leave.
I am not currently under suspension.
I do not have a pending disciplinary case.
I understand that if I misrepresent my current status with my company and enter into this agreement that I maybe held liable to
both civil and criminal offense.

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed on the respective dates and at the place specified
above.

GLOBAL CREDITPROS CORPORATION

Lender
 ANNEX A:

PAYMENT SCHEDULE

Borrower/s’ Name: esperanza palicpic

MaturityDate Amount Payable

Aug 22, 2019 Php 3,733.33
Sep 09, 2019 Php 3,900.00
Sep 23, 2019 Php 3,800.00
Oct 07, 2019 Php 3,800.00
Oct 22, 2019 Php 3,833.33
Nov 07, 2019 Php 3,833.35
Total Php 22,900.01

I understand that electronically signing this Loan Agreement constitutes a legally binding signature and agreement to the conditions
stated above.

ESPERANZA PALICPIC
AUGUST 10, 2019

DIGITAL SIGNATURE

SUBMIT

Loan Agreement can be signed manually by clicking this link.

A copy of this Loan Agreement can be found in your GCP account (/en/login).

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