MEMORANDUM OF AGREEMENT

For On-the-Job Training

KNOW TO ALL MEN BY THESE PRESENTS:

This Memorandum of Agreement made and entered into this 21st day of July 2014 at Saint
Vincent’s College by and between.

SAINT VINCENT’S COLLEGE, an education and training institution, with principal

address at Padre Ramon Street, represented by its EXECUTIVE VICE-PRESIDENT, REV.
FR. NATHANIEL A. DENLAOSO, here in after referred to as FIRST PARTY.

-And-

BANCO DIPOLOG, an entity with principal address at Dipolog City, Zamboanga del
Norte represented by the VICE PRESIDENT FOR ADMINISTRATION, WILFREDO C.
SANTILLAN, here in after referred to as SECOND PARTY.

Jonathan P. Suelto, a student/trainee of the first party, and being a minor is represented
by his parent MRS. AMALIA P. SUELTO, with principal address at Miputak, Dipolog City
here in after referred to as THIRD PARTY.

WITNESS THAT:

WHEREAS, the FIRST PARTY is offering Bachelor of Science in Accounting

Technology program which is registered with Commission on Higher Education (CHED).

WHEREAS, the FIRST PARTY abides the CHED policy of providing On-the-Job
Training as a mandatory requirement for the completion of the students to gain actual working
experience in accordance with CHED CMO.

WHEREAS, the SECOND PARTY has strongly signified its commitment to help the
mid-level Filipinos by allowing the THIRD PARTY to have an OJT in accordance with the
above mentioned CHED CMO.

WHEREAS, the THIRD PARTY agrees to be developed and undergo OJT on the
SECOND PARTY.

Now, therefore, in consideration of the forgoing premise and their stipulations, conditions
and undertakings herein stated, the parties affirm their support and assistance in the
implementation of the OJT and do hereby mutually declare and agree as follows:

I. Areas of Responsibility

A. The FIRST PARTY shall:

1. Provide the basic, common and core competencies, theoretical and

practical institutions as well as sufficient hands-on training before the
THIRD PARTY is finally recommended for OJT in the SECOND
PARTY;

2. Assign/designate an OJT/Practicum Coordinator who is in-charge in

coordinating and evaluating the requirements of the FIRST PARTY, the
 Second PARTY and the THIRD PARTY before, during and after the OJT
of the THIRD PARTY;

3. Ensure the THIRD PARTY performs the task assigned to him/her to the
best of their ability through briefing/orientation on discipline, proper
decorum, desirable work habits, etc.;

4. Ensure the THIRD PARTY is of god moral character and with no

derogatory records on file;

5. Provide insurance to the THIRD PARTY in case of accidents in the

workplace. The insurance shall be part of the OJT fees if any, or
miscellaneous fee of the THIRD PARTY;

6. Ensure that the THIRD PARTY shall maintain the confidentiality of any
information he/she may acquire in the course of the training and even after
the completion of the training period in the premises of the SECOND
PARTY; and

7. Ensure that the OJT is completed and finished as scheduled.

B. The SECOND PARTY shall:

1. Assign/designate an OJT Enterprise Coordinator (OEC) who is in-charge

of coordinating and evaluating the requirements of the FISRT PARTY, the
SECOND PARTY and the THIRD PARTY before, after and during the
OJT of the THIRD PARTY and likewise in-charge of the monitoring and
evaluation of the THIRD PARTY;

2. Provide the necessary tools/equipment, facilities, supplies, and materials

related to the OJT of the THIRD PARTY;

3. Entrust the THIRD PARTY such jobs/tasks which are related to the
competencies/qualifications/training program of the THIRD PARTY;

4. Provide first aid treatment in case of work related to accidents, however,

the SECOND PARTY shall not be responsible/liable for any injury,
accidents or damages that the THIRD PARTY may have caused which
may be due to his/her own negligence or carelessness while undergoing
OJT in its premises.

5. Maintain a database of all THIRD PARTY trained for future manpower

pooling, however, hiring shall be governed by the policy and requirement
of hiring of the SECOND PARTY;

6. May provide the THIRD PARTY meals and transportation allowance

depending on its Corporate Social Responsibility (CSR);
 7. Allow the minimum number of 240 working hours per trainee during
weekdays until the completion of the OJT; and

8. Evaluate the performance of the THIRD PARTY during and after the OJT,
in accordance with the Evaluation Report attached, which forms an
integral part of this agreement. The Evaluation Report is an attachment to
the Certificate of Completion which shall be issued by the SECOND
PARTY after the THIRD PARTY has complied with the terms and
conditions of the OJT. The Evaluation Report shall serve also as an input
in the arrangement to extend the OJT duration or another as agreed upon
the SECOND and THIRD PARTY.

C. The THIRD PARTY shall:

1. Attend and complete the OJT in accordance with agreed schedule;

2. Conduct himself/herself in such a manner that will not bring disagree of

dishonor to the FIRST and SECOND PARTY;

3. Abide by the rules and regulations of the FIRST and SECOND PARTY of
the OJT;

4. Protect the properties of the SECOND PARTY and solely responsible and
accountable for any loss or damages to any material, tools, equipment, etc.
issued to them in the whole duration of the OJT; and

5. Maintain the confidentiality of any information he/she may acquire in the

course of the training and even after the completion of the training period
in the premises of the SECOND PARTY.

II. DURATION

The nominal duration of the OJT shall be based on CHED CMO.

III. EFFECTIVITY

The Memorandum of Agreement shall take effect upon signing of all parties and
shall remain in force will otherwise revoked or terminated in writing by all
parties.

IV. AMENDMENT

No amendment, alteration or modification of any of the terms and conditions in

this agreement shall be valid unless evidenced by a Written Agreement of all
parties. If for any reason, any part of revision of this agreement shall be held
unconstitutional and/or invalid, other parts of the provisions hereof whish are not
affected hereby continue to be in full force and effect
 IN WITNESS HEREOF, the Parties have here into affixed their signatures on the
21stday of July 2014 in Dipolog City, Philippines.

FOR FIRST PARTY: FOR SECOND PARTY:

_____________________________ ___________________
REV. FR. NATHANIEL A. DENLAOSO WILFREDO C. SANTILLAN
Executive Vice-President VP for Administration

FOR THIRD PARTY:

_____________________
JONATHAN P. SUELTO
Name of the Trainee