MEMORANDUM OF AGREEMENT

This Memorandum of Agreement is entered in this 17th day of June 2014 between the following
parties:

SECURITIES AND EXCHANGE COMMISSION (the SEC), with office at SEC Tarlac
City Extension office, represented in this act by its Director Atty. Richard R. Laus;


and

TARLAC STATE UNIVERSITY- College of Business and Accountancy with office address
at Romulo Blvd.San Vicente, Tarlac City represented in this act by its College Dean
Ms.Michaela P.Sagun



RECITAL

A. The COLLEGE believes that office internship or practicum will enrich the academic training
of its student and give them an insight into operation of government and private offices;

B. The SEC is willing to enter into a partnership with the COLLEGE in providing it students
such experience and exposure;

C. The parties have agreed to cooperate with each other to accomplish their common objectives.


NOW, THEREFORE, the parties have agreed as follows:
1. The SEC shall establish an office internship program (the PROGRAM) in its principal
office for students of the COLLEGE which shall cover not less than 200 hours, but not more
than 500 hours, in any period and shall be completed during official business hours from
Monday to Friday, exclusive of holidays, in accordance with the following schedule:

Maximum- eight(8) hours, 8a.m to 5 p.m
Minimum- four(4)hours, 8a.m to 12 noon, or 1:00p.m to 5 p.m

Provided that overtime work may be allowed with the prior written approval of the
COLLEGE and the subject to the condition that an SEC Employee shall supervise the work
during the extended hours.



2. The SEC shall, in addition, perform the following activities:

a) Conduct a pre-internship interview of the student participants to determine their
capability to handle internship assignment; provided that any student it finds unfit or
unsuitable to participate in the program shall be immediately withdrawn by the
COLLEGE from its list of participants;

b) Assign personnel to supervise to the student, oversee and coordinate the activities of the
student participants; and

c) Match or make commensurate to the student participants academic training or skills, as
much as feasible, the assignments to be given to them

3. The COLLEGE shall:

a) Select the participants in the Program who shall at least be third year students and
Not less than (10) in number; provided that the final number shall depend on the
availability of internship positions, as determined by the SEC;

b) Submit to the SEC prior to the start of the Program the medical certificate of the student
participants attesting to their physical fitness for the Program

c) Ensure the attendance of the student participants in the briefing which the SEC shall
conduct not later than one week the start of the Program. Failure to attend the briefing
shall disqualify the absent student from the Program; and

d) Designate a faculty member who shall act as liaison with the SEC in the implementation
and attend to internship-related problems, if any.

4. During the course of the program, the SEC shall inform in writing the COLLEGEs liaison of
any behaviour or conduct the students which may require prompt remedial action by the
COLLEGE. The SEC shall have the right to immediately exclude from the Program any
student who engages in any act or behaves in any manner that may prejudice the interest of its
clientele or otherwise adversely affect the safety of SEC personnel or students.

5. The parties agreed that the student participant shall receive any allowance or monetary
compensation from the SEC for their participation in the Program, if any.

6. The SEC shall not give the students participants assignments that may endanger their health
safety, e.g., field of work or any activity that require them to leave the SEC premises, or any
activity unrelated to or will not contribute to the accomplishment of the objectives of the
Program,e.g., doing personal errands for SEC personnel.

In the absence of gross negligence, the SEC shall not be responsible for any harm, injury or
damage to person or property that any student participant may suffer during the program or
while inside its premises.


7. Upon completion of agreed internship hours, the SEC shall conduct a post-interview of the
student participants to determine (a) the Programs Effectiveness, (b) the benefits, if any,
gained from it, and (c) the comments or suggestions of the students participants for its
enhancement. The COLLEGE shall submit to the SEC its comments, observations and
recommendations on the Program within 30 days of completion.

8. The SEC shall issue certificates of the completion of internship to the student participants
who gave satisfactorily completed the Program.

9. In case any dispute the implementation of internship of this Agreement arises, the parties
agree that the venue for any judicial or administrative action that may be filed in relation to
such dispute shall exclusively be in the City of Tarlac.

10. This Memorandum of Agreement shall take effect upon its signing by the parties and shall be
considered terminated upon the issuance by the SEC of the certificate referred to in paragraph
7.


SEC-TARLAC CITY EXTENSION OFFICE, June 17, 2014





By: Atty. Richard R. Laus By: Ms. Michaela P. Sagun
Acting Director College Dean



Signed in the presence of:





Arianne M. Llorente Fherly Ann Erich L. Canlas






Joanne Gonzaga Kevin Dominic B. Lindo