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MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:


This MEMORANDUM of AGREEMENT is made, executed and entered into by and between:
RUBY JEAN LADURA LARIOSA, of legal age, Filipino, and with residence and postal
address at Tagum City, Davao del Norte, Philippines, hereinafter referred to as
the FIRST PARTY;
and
JULMER SERAFICA CLAVERIA, of legal age, Filipino, and with residence and postal
address at Tagum City, Davao del Norte, Philippines, hereinafter referred to as
the SECOND PARTY;
WITNESSETH; That:
WHEREAS, the FIRST PARTY is the girlfriend of the SECOND PARTY, and the SECOND PARTY
is the boyfriend of the FIRST PARTY; the FIRST PARTY and SECOND PARTY are having an
exclusive-romantic relationship with each other;
WHEREAS, both PARTIES, by reason of their mutual affection, have established a
partnership/joint-venture, which is engaged in the selling of various cosmetics and
beauty products, and with business address at Pioneer Avenue, Misa, District, Tagum
City, Davao del Norte; for brevity the aforesaid partnership/joint-venture shall
hereinafter referred to as BUSINESS;
WHEREAS, the PARTIES’ above-described business is registered with the Bureau of
Internal Revenue, Department of Trade and LGU-Tagum under the name of the FIRST PARTY;
however, the FIRST PARTY hereby expressly recognize and acknowledge the SECOND PARTY’s
just share, capital and industry contribution, significant business insights, and such
other interest in the above-described business;
NOW, THEREFORE, for and in consideration of the foregoing premises, the PARTIES
hereto have collectively manifested and agreed on the following:
TERMS AND CONDITIONS
1. PROFIT SHARING – the FIRST and SECOND PARTY bind themselves to contribute money,
property, and/or industry to the BUSINESS, with the intention of dividing the profits
among themselves; provided that sixty (60%) percent of the profit shall exclusively
inure to the SECOND PARTY and the remaining forty (40%) percent shall inure to the
FIRST PARTY; provided further that the BOTH PARTIES may, at their sound discretion,
assign or transfer their respective share in the profit to other persons;
2. ACCOUNTING – both PARTIES shall recognize and honor their joint obligation to render
an honest, transparent and accurate accounting as to all the affairs and/or
transactions of the BUSINESS as well as their bilateral right to request accounting
and financial statement or report in connection therewith;
3. CREATION OF JOINT-BANK ACCOUNT – both PARTIES shall create a joint-bank account in
order to achieve an honest, transparent and accurate accounting of all the BUSINESS
affairs, including financial activities; to this effect, all BUSINESS financial
transactions shall be solely paid, settled, disbursed and/or liquidated thru the
aforesaid joint-bank account.
IN WITNESS WHEREOF, THE PARTIES herein affixed their signature this ________.

RUBY JEAN LADURA LARIOSA JULMER SERAFICA CLAVERIA


FIRST PARTY SECOND PARTY
CEI: PDL ID No. L06-17-002847 CEI: PDL ID No. LO6-02-081370
Signed in the presence of:

______________________ & ______________________

ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES )
Province of Davao del Norte )S.S.
City of Tagum )
X- - - -- - - - - - - - - - X

BEFORE ME, this 10 December 2018, at Tagum City, Davao del Norte, Philippines, affiants personally
appeared and exhibited to me their competent evidence of identities written below their names known to
me to be the same persons who executed the foregoing Memorandum of Agreement and they acknowledged
that the same is their free act and deed.

WITNESS MY HAND AND SEAL

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