RELEASE WAIVER AND QUITCLAIM WITH NON-COMPETE UNDERTAKING

I, ________________________, of legal age, Filipino, married/single and presently residing at

________________________________________________________________ do, by these
presents, acknowledge that my contract of employment with ____________________ (the
Corporation) has ceased effective __________________, in connection with which I declare
the following:
1.
I acknowledge that I have received all amounts that are now or in the future may be due
to me from the Corporation, including the amount of _____________________________
(P _________), representing my final pay.
2.
I hereby unconditionally and absolutely release and forever discharge the Corporation, its
affiliates and subsidiaries, their officers, trustees, directors, agents or employees, including their
assigns, representatives and successors in interest, from any and all claims for sums of money, or
other obligations arising from any contract or agreement with the Corporation.
3.
I warrant that I will not at any time, in any manner whatsoever, directly or indirectly
commit any act prejudicial to the interest of the Corporation and its directors, officers,
employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives
arising out of or related to employment by the Company and the termination of such
employment, nor will I disclose any confidential and propriety information concerning the
business of the Corporation and its affiliates and subsidiaries, their manner of operation, plans or
any data of any kind, as well as personal or confidential information pertaining to or about any of
its employees, officers and directors of the aforesaid entities. I further represent that:
(i) I shall not solicit or encourage any Employee of the Corporation or its subsidiaries to
leave the Corporation or such subsidiary for any reason, nor assist any business in
doing so, nor employ such an Employee in a Competing Business or any other
business
(ii) I shall not directly or indirectly, on behalf of a Competing Business, contact, solicit or
do business with any "customers" of the Corporation or of any of its subsidiaries for the
purpose of selling or licensing any product, service, or technology then sold or licensed
by the Corporation or such subsidiary or proposed to be sold or licensed by the
Corporation or such subsidiary. For the purposes of this Undertaking, "customer" shall
include any entity that, within two years prior to the termination of employment
hereunder, purchased or licensed any product, service, or technology from the
Corporation or a subsidiary of the Corporation. The term "customer" also includes any
former customer or potential customer of the Corporation or any of its subsidiaries which

the Corporation or such subsidiary has solicited within two years prior to the termination
of employment hereunder for the purpose of selling or licensing any product, service, or
technology then sold or licensed by the Corporation or such subsidiary or proposed to be
sold or licensed.
4.
I further warrant that I shall not for a period of one year after the termination of my
employment with the Corporation for any reason (the "Restricted Period"), directly or indirectly,
own, manage, operate, join, control, participate in, invest in or otherwise be connected or
associated with, in any manner, including as an officer, director, employee, independent
contractor, stockholder, member, partner, consultant, advisor, agent, proprietor, trustee or
investor, any Competing Business located in the Philippines; provided, however, that ownership
of 5% or less of the stock or other securities of a corporation, the stock of which is listed on the
Securities and Exchange Commission, shall not constitute a breach of this Undertaking so long
as you do not in fact have the power to control, or direct the management of, or is not otherwise
associated with, such corporation.

I have read this Undertaking and understood fully all the provisions contained herein, the same
having been explained to me, and in connection with which I signify my conformity by affixing
my signature in the space provided below.
_________________________
Signature over Printed Name

____________________________
Date