EMPLOYMENT AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Employment Agreement (“Agreement”) is entered into by and between:

FLEXIBLE CASHBOX LENDING INC. a corporation duly organized and existing

under by and virtue of the laws of the Republic of the Philippines, with office
address at 2nd Floor, A&P Bldg., Lazatin Boulevard, Dolores, City of San Fernando
Pampanga, represented by its GENERAL MANAGER, KHAREN M. DANGANAN
(hereinafter referred to as the “COMPANY”),

and

APRIL JOY Q. CRUZ of legal age, with residential address at Sto. Tomas,
Pampanga (herein after referred to as the “EMPLOYEE”).

WITNESSETH THAT:

WHEREAS, the parties hereto desire to enter into this Agreement to define and set forth the terms and
conditions of the employment of the Employee by the Company;

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth below, it is
hereby covenanted and agreed by the Company and the Employee as follows:

Section 1. Employment

a. The Company hereby employs the Employee as Accounts Officer, and the Employee hereby accepts
the same.

b. It is mutually agreed upon that the services of the employee is being hired on Regular Office-
Employment based.

c. Under such employment, the Employee shall report to the GENERAL MANAGER as her direct
supervisor

Section 2. Term of Agreement

a. This Agreement shall be effective from APRIL 1, 2019 up to OCTOBER 1, 2019 unless sooner
terminated under the provisions of Section 12 or otherwise renewed under the provisions of
Section 12.

Section 3. Duties of the Employee

a. As Accounts Officer, the Employee shall perform the following duties as specified in Annex A.

b. The Employee agrees that during the Employment Period he shall devote his full business time to
the business affairs of the Company and shall perform his duties faithfully and efficiently subject
to the direction of the Operations Supervisor of the Company; provided that the foregoing shall

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 not limit or prevent the Employee from serving on the board of directors of charitable organizations
or other business corporations not in competition with the Company.

c. The Employee shall not be assigned duties and responsibilities that are not generally within the
scope and character associated or required of other employees of similar rank and position.

Section 4. Compensation

a. In consideration of his services to the Company, the Employee shall receive a salary of Php. 393.00
which shall constitute his/her Basic Daily Salary.

b. Such salary may be subject to increases as may be determined by the CEO or Operations Supervisor
of the Company pursuant to its applicable policies, or in compliance with the prevailing wage orders
in Region III.

c. The salary shall be paid every fifth and twentieth of the month and to be deposited through an
ATM Payroll Account or given out in cash. If the said days falls on a non-banking day, the payment
shall be made on the immediately succeeding banking day. If payroll falls on a weekend, salary shall
be released on the working day immediately preceding the weekend.

d. The salary shall be subject to deductions and withholding taxes as may be provided by law,
including SSS, PHIC and PAGIBIG premiums and withholding taxes. A salary computation and full
declaration of such deductions shall be given every pay-out.

e. Withholding Tax Computation – Republic Act No. 10653

f. Section 5. Benefits

a. Overtime Pay. The Employee shall receive an overtime pay equivalent to the hourly rate and an
additional twenty-five per centum (25%) of such rate for every hour worked after eight
consecutive hours of shift, provided that if the overtime worked falls on a holiday, the additional
rate shall be equivalent to thirty per centum (30%), provided further that the following rules shall
be observed in rendering overtime work:

1. Prior to the rendition of overtime work, the Employee shall notify the Company of his/her
intention to render overtime work.

2. The Company shall confirm the availability of overtime work and notify the Employee of the
approval of his/her request. Otherwise, the request shall be rejected.

3. Failure to observe the foregoing shall render the overtime work not payable.

b. Holiday Pay. The Employee shall be entitled to holiday pay.

1. 100% of his Basic Salary on unworked Regular Holidays;

2. 200% of his Basic Salary on worked Regular Holidays;
3. 130% of his Basic Salary on worked Special Non-Working Holidays.

c. Service Incentive Leave. The Employee shall be entitled to five (5)-day service incentive leave
after having served the Company for one (1) year.

d. Vacation Leave. In addition, the Employee shall be entitled to vacation leave equivalent to five
(5) days every year. If unused, the same may be converted into cash.

e. Sick Leave. Moreover, the Employee shall be entitled to sick leave equivalent to five (5) days
every year.

f. Meals/ Break Period. The Employee is entitled to a lunch break of thirty (30) minutes.

g. Work Day. The Employee shall be required to work from Monday thru Friday.

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 h. Other Benefits. Finally, the Employee shall also be entitled to such other benefits as may be
customarily given by the Company to other employees of similar rank or position, provided that
the Employee satisfied the requisites as uniformly applied by the Company to such other
employees.

Section 6. Disciplinary Actions

a. Simultaneously to the signing of this Agreement, the Company shall provide a copy of the Code of
Conduct the Employee. The latter shall read and sign the same to signify his/her conformity
thereto.

b. During the effectivity of this Agreement, the Employee shall be subject to the provisions of the
Code of Conduct. The Employee shall observe the rules of conduct as provided therein.

c. Should the Employee commit any violation of the Code of Conduct the corresponding disciplinary
sanctions, including but not limited to, reprimand, suspension, and dismissal, and payment of
liquidated and actual damages shall be meted out.

Section 7. Confidentiality

a. During and after the Employment Period, the Employee shall not divulge or appropriate to his own
use or to the use of others, in competition with the Company, any secret or confidential
information or knowledge pertaining to the business of the Company, or of any of its subsidiaries,
obtained by him in any manner while he is employed by the Company or by any of its subsidiaries.

b. During the same period, the Employee likewise binds himself not to disclose, divulge or use for his
own benefit or that of others, any information pertaining to the clients of the Company, whether
or not assigned to him/her.

c. Should the Employee violate the provisions of this Section, he/she shall pay the Company the sum
of Fifty Thousand Pesos (P50,000.00) and above, by way of liquidated damages, in addition to other
costs as may be incurred by the Company in protecting its rights.

Section 8. Exclusivity and Non-Compete Clause

a. Exclusivity Clause. During the effectivity of this Agreement, the Employee shall not be employed
by or otherwise engage in or be interested in any business in competition with the Company, or
with any of its subsidiaries or affiliates.

b. Non-Compete Clause. The Employee undertakes that during the effectivity of this Agreement and
in case of separation from the Company, whether voluntary or for cause, he/she shall not, for the
next TWO (2) years thereafter, engage in or be involved with any corporation, association or entity,
whether directly or indirectly, engaged in the same business or belonging to the same business as
the Company.

c. Liquidated Damages. Any breach of the foregoing provisions shall render the Employee liable to
the Company in the amount of Fifty Thousand Pesos (P50,000.00) for and as liquidated damages,
in addition to other costs as may be incurred by the Company in protecting its business. The
Employee shall likewise be dismissed from work.

Section 9. Termination and Renewal

a. This Agreement shall be deemed terminated upon the expiration of the term as provided in Section
2 hereof unless sooner terminated pursuant to Section 10 and 11 hereunder.

b. This Agreement may be renewed or extent by mutual consent of the parties herein, provided that
this Agreement shall be amended pursuant to Section 12 hereunder.

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Section 10. Termination of Employment by Company

a. The Company reserves the right to dismiss the Employee for just or authorized causes, including
but not limited to violations of the Code of Conduct providing for the penalty of dismissal from
employment.

b. In instances where the Employee is being dismissed for just causes, a notice shall be sent to the
Employee informing him/her of the violations he/she committed. Within five (5) days from receipt
thereof, the Employee shall answer the complaint against him either in writing or through a hearing
called for the purpose. Should dismissal be warranted by the circumstances, a second notice shall
be sent to the Employee informing him of the order of dismissal.

Section 11. Termination of Employment by Employee

a. Prior to the expiration of the term of this Agreement, the Employee shall have the right to
terminate the same for causes provided by the Labor Code of the Philippines.

b. Resignation. Subject to existing retainer and/or training agreement, the Employee may voluntarily
resign from his/her employment with the Company provided that thirty (30) days prior to the
effectivity of the same, a notice, indicating his intention to resign, shall be given to proper Company
officials.

c. Turn-over. Regardless of who initiated the termination of this Agreement, the Employee shall,
within five (5) days prior to the effectivity of the termination or within such time as may be
determined by the Company, render an accounting of his/her liabilities to the latter, as well as the
Company properties under his custody. Within the same period, such liabilities and Company
properties shall be turned over to such official as required by the Company. Should he/she fail to
do so, the Employee shall be held liable for the amount of Thirty Thousand Pesos (P30,000.00) or
the value of the properties not turned over, whichever is higher, without prejudice to the
applicability of Section 7 herein.

Section 12. Amendment

a. This Agreement may be amended by mutual consent of the parties.

b. Should this Agreement be amendatory to a pre-existing contract, the provisions of the latter shall
still remain in force except insofar as they are irreconcilably inconsistent with the provisions of this
Agreement. In case of conflict, the provisions of this Agreement shall prevail.

Section 13. Notices

a. Any notice required or permitted to be given under this Agreement shall be sufficient if in writing
and if sent to the Employee’s webmail at the last address filed by him in writing with the Company,
as the case may be.

Section 14. Remedies

a. Notwithstanding the intricacies involved in the conduct of business of the Company, the law
applicable with respect to the provisions of this Agreement shall be the laws of the Philippines.

b. In the absence of provisions in the Company By-Laws and the Code Of Conduct, actions arising from
any violation of this Agreement shall be filed before the proper courts or tribunals in the City of
San Fernando, Pampanga to the exclusion of all other courts or tribunals.

Section 15. Separation

a. Should any provision of this Agreement be declared unconstitutional or unlawful, the other
provisions not so declared shall remain in full force and effect.

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 KHAREN M. DANGANAN
General Manager
FLEXIBLE CASHBOX LENDING INC.

APRIL JOY Q. CRUZ

Employee

SIGNED IN THE PRESENCE OF:

LESTER L. LUMBA
CEO/President
FLEXIBLE CASHBOX LENDING INC.

___________________________

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 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

City of ___________________ ) ss.

BEFORE ME A NOTARY PUBLIC, personally appeared this ______________ in

_____________________, the following:

Name ID Type&No. Issued at Issued on

known to me and to me known to be the same persons who executed the foregoing instrument consisting 6
pages including this Acknowledgment, and who acknowledged to me that the same is their voluntary and free
act and deed and those of the parties represented.

IN WITNESS WHEREOF, I set my hand and affix my notarial seal on the date and place above written.

Doc. No. _____;

Page No. _____;
Book No. _____;
Series of ______.

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