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REPUBLIC OF TI]I.E PHILIPPINES '1 ::':..::i.
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SECL'RITIES AND EXCHANGE COM MISSION
, SEC Building, EDSA, Gleenhills ' .', '
Tfo
KALAYAAN

, r ' x*t*[S'st$!t: '

: ". : :. ,, COMPANY
-----::-r---''
REG. NO.
--
cs;os3fs477
: t''-;='
,.
CERTIFTCATE OT INCORPORATION

KNOW ALL MEN BY THESE

,l
PRESENTS: 1

This is to certify thal the Articles of Incorpor:ationrand By"Laws of

{
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; t{*l[IPAt{ II{OUS{8I8$
-,-. IllC.

were duly approved by the Commission on this date upon the isslance of this Certilicate of
Incorporation in accordance with the Corporation {-;rde of the Philippi4es (Batas Pambansa Blg.
:

;,,
This Certificate grasts jqndieal personatrrty"to,thr corporatioir,b,ut does uot authorize it to
und€rtake business activities rhqrrfur4g a Secondary License fro-p this Commission such as, but not
:

Iimited to acting as: broker or dealer in securities, gov€rmnent secur:ities eligible dcaler (G$ED)?
investmett . adviser. o{ an , inveslnent company, glose-end or open'end .rnves!,pent company'
invs$tme[t .house, trassfer age4t, coupodity/firulncial'
r'
. futlues
,'
exchange/ nhoker/merchant,
. : .t ,I
finaqcmg.cqrupany, pre-negd plen ipqer; gp.neTql rlgFnt,;in pr,e-ueed:'pla-ns A*d time shares/club
\ ....). ., ... :_ .

sharqdmembe,rship certfficalps.:iSsuers or.'selli4g 'a#nts : lnere,of Ne,i-ther aoes this Certificate

constitute as perqit to undertake activities for which o;!e" gon*rrrrriol'agencies require a license
: .'''\' .

IN WITNESS WESREOF,, I have hereunto set my hand and.caused the seal of this
s4'
Commission to he aflixed at Mandahryong City, Metro Manil4r Philippines, this l- day of

r:-2ni6

Offfer-tn-Charsl
ti 'l I.rilffiilru Fer SS Oftle Order !*o. 1,67 Sartcs Ef 2S02
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ARTICLES OF INCORPORATION

OF

-lNC.
MARIDAN lNUUSq.'{r':S
I ( Narne of Corporation)

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Know All Men By These Presents:
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{iil.'r'':' :r , The undelsigned incomorators, all of legal a$e and majority ol whom are
residents of the Philippines, have this day voluntarily agreed to form a stock corporation
under the laws of the Republid of the Philippines. .

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Ji:,,,::
THAT WE HEREBY CERTIFY :
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FIRS,I:Thenameofthiscorporationshal1be::

MAe[neN INDUSTFIdS INC.

SECOND: A . That the primary purpose of this corporation is to ,,

{
ent,age in manr:f.ctu"i^irr;': , o.is-;_r:)' ,.it. ,
4

whclesal"j"ng and :etai).rng, g1 c1ii,Ll .cci.i: j-_.-r-

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sc-97-01
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aSprovidedforunderSection36oft1reCorfiorationCodeoft1re;)tiirppirres.

THIRD: That the place where the i:rirlcipai offioe of tlre corporaiion is io be

No./Street (lii applicable)

CitylTowq* ;1c.tLo elw Province _I'Io{I o

FOURTH: That tlre ternr for which the corporation is ti, exist is fifty (50) vears
frorn and a.fter the date of issuance of"the certi,ficate of inecrrporatlon.
iri.trt'
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l!:i:..
i.i:r'.d F'IFTH: That the narnes. nationalities, and residences o; ihe ii-,rorporators ail. as
follows: 0

Narne Natioqallty 4 Resrden*r:

, (Complerr Addi"ess)

fllipl.ns @!-_r__Jqqrjta1l* Ctty

fl.IXpl,no #I_-]rb_gEl1$_ol1j:L._r_ Jaro, I1o11o Clty
Ramon Slnco
__s*Lrp$s* nf d!''|*hgl tlbg_/_L E*.lg}ryq' ri.fl":*^
Me, Angele s Di.neo
fLIlpl.-no Y|llqggf$P:i Su'nri ", tsal-abeg*, "Ja'*o',"
,1".1 :, L,
Mngdal-ene Yanson rtlr.prno L.:"d!:18k Ln arya.!ry}:gr, Jil'b ''
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SC-97-01 conformed coPY

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SIXTH: That the number o[directors of daid corporation shall Ftv-e--- 5 i r

and that the names, nationalities and residences of the first directcrs rvho are to serve r-rntil
their successors are elbcted and qualifigd 2s,provided by the by-laws are as follows:

Nrme Nationality Residence

(CornpLcte Aclclress)

MarLdan I{. Iio}Ieeta fiilpirro #F: Wqsh&a$gr,'n,sfi; r, .nlspm, Xlotl.o SJ.ty

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&uEa&A* flllplno' Lei {Jtty
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.:r:. ,. - ft11pi.no Landbaights SubC
", Balabago, J_ano
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Ha. Amg.Les Dineo a

fl1t pl no l,andhe ights EuM Bal-abagoo- Jano

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Magdalena Yanson LandheiBhts Subd . r' B_alabago = o1J
Jaro l
flitplno _,-_-l-..
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SEVENTH: That the authorize J capital stock ol rhe corporatioll

onr qillion -eto s : o'r}y '.f_,
,/
pesos in iawful money of the -- philipprnlBl
sirares *'ith tire Par
&Otf-Z
value r
-)pe 5us per sitare.
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CERTITI,flDTRUE COPY
sc-97-01
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 F.IGH'IH: That at least 25olo of the authorized caBital stclck has beer-i subscribed
and at leastZlo/o of the total subscription has been paid as follows;

{ of Am,ount
a

No. Amount
Name Nationality Shaies ,' Subscriberl Paid
Subscribed
Sar{.dan N, $olLceta Sltptac 'tooo rt0oro*o.so s e5'oso.0s
Suslri*** Y. iicllestr, flltptn* ?qn " 79 r0oo.0o 18.?3s.oo
tcster DanSoLl-estg_ flllSf t:_ :19
N. zd+,e goQ,0"0 5r??5""o0
Bbn Vtncant N., Soll-e,sta **;ltplno 249
t-
Eldr.O trleal-
Eldred 'lE. Sollestp ftltplno
N.a:- ,N. 2z*9 24 ,90c.(]0 b, 225 ,oo
Ramon 5lnco rd I iplno ,|
I 1 00 .00 25.0,-O
Ma. Angeles Slnco f ilipino 1;, 100.o0 2t.o0
::4>.:
S{agdalenm Yanson ritrlpino 1 25.00
"lorl'

Total
eSoo / rewro$0.oc $ sa r sso.s*

NINTH: No transfer of siock or interest whie,r would reduce thc stot.k ownership
cl Filipino citizelts to less than thc requirecl percentagt of rhe capital :locli rs pr.ovided
b,y existing laws shall be allowed or pennitred to be recor.ded in rhc
lrroncr books ol'
corporation and this restrictiorr shal1 be indicated it the slocks ceftificates issudC bv rhe
corporation

&astar Sas H., $*llamtu

N

,/'
: T-NTH' : That has
: a,:
been elected by the subscribers as treasurer of the corpopation to act as such until hisrher
successor is dtrl)',elected and, qualified in accordance with the by-laws; and that as such
Treasurer. he / she has beeu authorized to receive ioI- und in the,ra,ne r,,J iirr rhe brerrefir
o1'the corporation. all subscriptions paid by the subscrihers.

::....:

sc-97-01 4 Fi[B 0 conformeci copY

 l
i
ELEVENTH: That the corporation manif€sts its w'iilingrcssrto change rts
corporate llame in the event another person, firm or entity has acquireel a prior right io use
the said firm name or one deceptively or cuiiiuiiirgi! simiiar to it.
7'

In Witness #hereof, we have set our hands this 17th day 0f

:.:
Januaqy
at l1oi1o City,

lli'r,:
,ri'Il,,.l i

ir,nMrh 'llLr / ,/
triJ,l:-i".1. {i.la (r,ral, 1
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MA. ANGELES EINCO

&$$xBIS $OLLESTA
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11 '1^ I T i:r arma i

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ci"iiR$il NISL i'{, s0tlJts?,f\

WITNESSES:

(Alt incorporutois appearing on lhefifth urticle and'lhe *yo wineNess slroukl ufJlr tt1gir signafires on
:
, the 4]anks provitle:d in this ptgg above lheir respecriue uanis.)
*n S80(8H0&8ERS OffiIrfr

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sc-97-01 conforiled copy
 nr

ACKNOWL.EDGEMENT,
e

Republic of the Philippines)

BEFORE ME, aNotary Public in and for I'hilippines, this

i"' day of t i.r tt,,, .20 f)3 personally appeared :
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Name Community Tax, Certificate No. Date & place.Issued
ffi*x*$*m M* #a}}amk ,*,i*ry1,','l
ILr,f La. i-1 l jlcrSle
i*i i, Jrd , fur$ii:$,F
&iusbbttt *. l*pllmst*
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1*3?r?e , :
t*j,1,*Li,*l'lity ii,r,.i Pr .' r,trl S
L*gt*r Lsu h. $o)" iseire, 1l-1 1*S8* |ie r< l,arsrns * ; Xo t).o
Jan ! t n.*qnt 1* . ;,*1.1e. i;ts, 1-1 t*Qt r lisy' L**an* I I) crl] n

&t*se* $,16*3, S* $w}.t*str lffii$?e'}$ , ' : 'l*11-fi?, Sst Luc*rW r X,3*11a

1-1A-O5, Jaroj rroiro cltv
':
Mp. ilpgeles Sinco ,(058,71763 t 1-1A-A5, Jaro, f1o11o City
Magdnlena Yanson :05871751 ' 1 -\O-AJ, J ar o, I1o :ilo Ctty

all known to me and to me known to be the same persons whc, executecl the foregoing
Articles of Incorporation and they acknowiedged to me that the samc is their free and
voluntary act and deed.

IN TESTIMONY \ THEREOF. I have set m'/ hand ancl affixed rny

notarial seal on the date and at' tfte plaoe first a

UBLIC

ilOTARY PUBLIC
Doc. No. *..{ ;
,NTIL
nTR$o"-
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Page No. ,.f clFr
; ts$uED [T
Book No. _trZ : ON
Series of p0?)?, .

sc-97-01 conformed copy

 d.fREASURER' S AFF{DAVIT
ir. i$,1

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L.i.
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RE,PUBLIC OF THE PH{LIPPINES )
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CITY/XilXM$frIAHEKTY OF ILOILO ) S.S
)

I _ \ I T'-T _-(\ -- l r't _:nn

l. -'. . -: .!i -l lil) .J -- \--.

That I have been elected by the subscriu.k^rs of the corporation as Tl'easurer thereof.
to act as such until my successor has been duly elected and qualified in accordance with the
by-laws of the corporation, and that as such Treasurer. I hereby certiiy under oath that at .

Ji$.11,!'r.
i\:;.:,'. least 25Vo of the authorized capital stock of the corporation has bcen .subscribed and at
l$ll;${.i
least 25Vo o[ the subscription has been paid, and received by me in cash property for the

ie: antl
This is also to authorize the Secuqities. ar Exchange Colrrrrtis'i,rn and Bangllo
Sellral- Ng Pilipinas to examine,/'a,nd ,/ and verify
verily thethe deposit in in ,4n,
.tr6?rr; Iloilo Ci
(Name odnank) (,Branch)
in my name as treasurer in trust for the $*s,.den
ame of Corpgi21ffi!
'i.:l'
'*l,r: in rhe amounr of stxty t$u *ho!{sphd flva bund":fAg ,i-p $e*XlO.Oo j
representing the paicl .up capital of the said corporation which is in th& process of
incorporation. This authority is valid ancl inspection,of said deposit nray be made even after
the issuance of thb Certificate of Incorporation to the'corporation. Shoulcl the deposit be
transferred to another bank prior to or after inct'porhtion. this will ulso scrve as authority
to verify and examine the same. The rep',;sei.tatr:,'e of the Securities and Fxchange
Commission is also authdrized to examine the pertinent books and records of accounts of
the corporation as well as,ll all supporting papers to det,-'rminc thc rrtilization and

ln case the said paid-up capital is not deposited or wi"thdrawn pricir to the approval
of the articles of incorporation, I, in behalf of the above narned c()rporarion, u,aive our
right to a notice and hearing in the revocation of our Certificate of Incorporation"
. ." ,/

Treasurer

;WORN ro before ,re this d^dav ot J': /,,iAtt., .2A, ti

,/, Philippines affiantr{fiSltine io rrrr his Cordmunitv Tax
,' issuejar {a"ror^{1oi1y'on" J:t:. 1'',. 2oa1_'.
o<. u *r\= NOTA
Page No. *.- ^ ,5

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(srocK)
:

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BY. LAWS , ,[t

OF

ftQ*{Xee$ *#ir&i#ffiStuS t'Hg,

(Name of Corpcr aiioil)r

ARTICLE I

SUBSCRTPTION, ISSUANCE ANID IRANSFER OF SHARES

Section l. Subscriptions - Subscritrers to the capital stock of the corporariorr sirall p11 the value
of the stock in accordance rvitlr the terms and conditions pgescribed bry the []oard of Directors.
Unpaid subscriptiorts slrall not carn inlerest urrless deterrnirrcd b-v tlre Board of L)irrj,t()rs.

Section 2. Certificate - Tiie stockholder shall be entitled to one or more certifi."r.rfltb, fully
paid stock subscription in his name in the books"iirr. il;;tfi;;;;;;il
"".p"intd,t" 'fhev shall be in suclr
contain the matters required by law and the Articles of r::orporation.
lorm and design as lnay be determined b5r tlre Board of Directors and nurnber.d .o,'.lr."uii".fy.
'fhe certificate shall
be signed by the President. countersigned by the Secrerar) or Assistant
Secretary,andsealedwiththecpr.porateseal..

Section 3. Transfer of Shares - Subject to the restrictions, tenns arrcl conditions contained in
the Articles of Incorporatiou, sltares may be trarrslerred. soid. assigned or ple..lged lr_r clelivery <-rf
the certificates duly indorsed by the stockholder. his artorney-in-fact, ,rr orhei iegrti), aulSorrzed
person. The transfer shall be valid and binding on the corporation rinly upon r-ecord thereof, in
the books of the corporation. The Secretary shall cancel the stock ,re.tifrc,,t.s ancl .issue uew
cenificares to the transferee.

No share of stock against which the corpoiation lrolds unpaid r:laiur shrll be rransf"erable

I
All certificates surrendered for transfer shall be starnpecl ''Cancelicd" ,ln the f,ace
thereof, together with the date of cancellation, and attachtld to the corresporrcling stub wit6 the
certificate book.
I
Section 4- Lost certificates - In case auy stock cerrificate is lost, stolen. or dcstroYecl, a new
I

Jertificate rnay be issued in lieu rhereof in accorciance .vit}1 the proceciure prescribed under
Section 73 of tlre Corporation Code.
t

l3L-S-97-01 !'*,-&
T':.'"I conlormed copy
i rr;,c {-{,\i- .

1,3 2016
 ARTICLE.II
' I t"' '

.N

M EETING S OII S'IOGK}IOLD I,RS

Section 1. Annual / Regular Meetings - The annual / regular rneetings of stoc\trolders shall be
held at the principal of,fiie on arry day in March ol eacii year. ila i.r:al l,uliday. then on tlre
day following. t
I

Section 2. Special Meeting -

The special ,n.;rtings,of sttockhotders. titr auy pllrpose or
purposes,mayatanytimebecalledbyanyofthefollO\,,ing: 1a) Boardof,l,'irectois, atitsown
instance, or at the rvriderr request ot'stocklrohlers represcntirrg a nr,iir:rii\ ,rf the orrtstancl ing
capital stock. 1b) President.

Section 3. Place of Meeting - Stockholders ,r-reetings, whether resLrlar or special, shall be

held in the principal office of the corporation or al any place designaied b1' the Board of
Directors in the city or municipality where the principal office of the corporation is located.

Section 4. Notice of Meeting - Notices for rep.ular or special meetinJs ot stockholders may be
sent by the Secretary by personal delivery or by rnail at Ieast t,//o (2) rveeks prior to the date of
the meeting to each stockholder of record at his last known aC,lress. J'he notice shal1 state the
place, date and hour of the rneeting, and the purpose or purposes tbr which the meetilg is
called.

When the meetiilg of stockholders is adjourned to anotirer tiurr- or piitce, it shall not be
necessary to give any notice of,the adjourned rneetirrg iIthe tirne arrt.l l,lrrce 1o ulpich the meetilrg
is adjourned are announced at tlie rneeting at which the ad.joullirnent is rriiiu,rr. A{ rlrc rcconverred
meeting, any business rnay be transacted that miglit hare been [rar]stLred orr rhe original clate ol
the meeting
I

Section 5. Quorum - Unless otl-rerwise provirlc'd by law, in all regular or special meeting of
stockholders, a majority{of the outstanding capital srock must be prescnr or,"pr.r",,ted iu order
to constitute a quoruln. If no quorum is consriluted, rhe nrecting slirli be tdjourued until the
requisite amount of stock shall be present.

Section 6. Conduct of Meering - Meetirrg ol thc stocklrold,-,rs slrrr ,i hc pr*i<1e.'i orer br rlrc
President, clr in his absence, by a chairman to be chosen by tlre stoci,iitritier.s, T'he Secretary,
shall act as Secretary of every meetings, but if nor preseur, tlhe chairnrarr of'the meeting shail
appoint a secretary of the meeting.

Section 7. Manner of Voting - At all meetings of stockholders, a siockholder may vcre in

person or by proxy. Unless otlterwise provided irr the prox,r, , it slrall bi.. valid only for the
meeting at which it lras been'presented to tlre Secrerary.' All proxies irrrrst lrt. in rIe ltalids oi't5e
Secretary before Lhe tinte set fbr tlre mecting. Prorjes lrlcd u:th tire it.crrrrirr rrrav be revtlkcd
by the stockholders either itr an instru,r',.n, i,, wriiing dLrl\, presentccl anii i""o.,l"a wittr tlre
Secretary. prior to a scireduled rneetillg cr by thcir personal pr.r",,.. rri l.lre irrcetirrg.
I

BL-S-97-01 p.2 .r conibrmed copy

I ,1t
 .-," .

Section 8. Closing of Transfer Books or Fixing ol Record Dater - []trr the purpose of
determining the stockliolders entitied to notice of, or to vote at, any rneeting c1'sloe kholders or
any adjournment thereof or to recqive payment of any dividend, tht: Brrartl of Directors may
provide that the stock aud transfer books be closed lor ten (10) uorkirtr clays irulnediately
preceding such m-eeting. .

;], ARTICLE III.

?.

Section 1. Powers of the Board - Unless olhelwise provided by [aw, the colporate powers of
the corporation shall be exercised, all business condu:ted and all properl\ of, tlre corporation
controlled and held by the Board of Directors to be e!-ct. i by and from arnorrg the stocklrolders.
Without prejudice to such powers as may be granted by'[arv, the Bo^rrd of L)irectors shall also
have the following powers:

a.) From time to time, to make and change rules and regulations not inconsistent
with these by-laws for the management of the corporation's business and,aflairsl

b,) To putchase, receive,'take or otherwise acquire fbr and in the narnc of tlie
corporation. any and all proferties. riglrts. or privileges" includirrg sccurities arrd
bonds of other corporations, for such consideratipn and upron such terrns and
conditions as the Board may deem proper or convenient,

c.) To invest the funds of the corporation in other corporations or for purpor., oih",
than those for which the corporation was organized, subject to such stockholder:s'
approval as may be required by law:

d,) To incur such indebtedness as the Boarci malr deery n"."rrury,' to issue evidence
of indebtedness including without limitation, notes, deecls of rrusr. bonds,
debentures, or securities, subject to such stockhtlders approval as nra-\ be llquired
by law, and/or pledge, mortgage, or otherwise errcurnber ali or par-t of rhe properties
of the corporation;

e.) To establish pension, retirement, bonus. or other types o{ incentrves or

compensation plans for the empioyees, including officers and dircctcrs Lrf, the
corporation;

f ) To prosecute. rttaintairt. def'cnd. corrrprornisc or abrrrrdorr an-v lru.irit i,t r,ilticir

the corporation or its officer are either plaintiffs or det-endants in. conne.:tion rvith the
business ofthe corporation: t

Br_"s-97-01
r . .{:r; 0

. L.,rttr)llnCLl\.\rp\
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L"riil{ I rl-.,

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 I

g.) To delegate, from time to time. arry of the powels of tir., iit,rrJ wlriclr nra1,
lawfully be delegated in the course of the current busines:; of thc corp,,ration to any
standing or special contmittee or to any officer'or agent and to upprr,,,, an)' person to
be agent of the corporation with sucir powers and upon such terr.ns as rnay be
deemed fit: e

h.) To implement these by-laws and to act or).any rnatter nol c(r\ercJ by rlrese by-
laws, provided suclt matter does not rcqLrire rlre apprroval t,i e rrnsent rtf the
stockholders under the Corporation Code.

Section 2. Election and Term - The Board of Direcdors shall be elccted rluring each regular
meeting of stockholders:and shall lroid office for or{e (l) year and rintil iheir successops are

,{
Section 3. Vacancies - Any vacancy occurring'ir: :1re Board ot Directt.rrs r,llrcr-than by removal
by the stockholders or by expiratiott of term, may be filled by tlie vorc trl r1 ieast a major,ity of
the remaining directors, if stillconstituting a quoruril; otherwise, the vacancv must be filled by
the stockholders at a regular or at any special rner ting of stockholders callecl tor the purpose. A
director so elected to fill a vacancy shall ue
predecessor in office.
=,-.tr. orrll for tlrc uircrpired i".rn of iiis

The vaiancy resulting frorn the removal of aldirector brl the stcckholcicrs in the manner
provided by law may be filled by election at the sarne meeting ofrstoc(holrlers withoLrt tLrrther
notice. or at any regular or at an) special rneeting of stouklroi,lers call<d ti,, llre purpose. alier
giving notice as prescribed inathese by-laws.

Section 4. Meetings - Regular rneetings of the Board of Directors sliall Lrc jreld once a month
on such dates and at places as may be called by the Chairrnan of tlre B,,ard. ur upon [he request
of a majority of the Directors. f'

Section 5. Notice - Notice of the regular or spccial meering oFtlre B,,ard. :pccilling tlre
dare.
time and place-of the meettttg, shall be comniunroatei [y,tn. Seerctarr to dir.ector
personally, or by telephone. telegram, or by written message. A ctirecior may "u.h
uaive this
requirement, either expre;sly or impliedly

Section 6- Quorum - A majority of the ,lr*U". of direcrors as tlxed in the Articles of

Itrcorporation shall constitute a quorun'l for the trapsaction ol corp,,rate l,rrsiner, ,,,d .r*r-u
decision of at least a majority of the directors prcsent at a rneeting at lvhich there
is u quoru,,
shall be valid as a corporate act, except for thl elr.;tio:r .f offir:ers rvlrich slrall-rcquire
the vote
of a majority of,atlrlie nrernbers olrhe Boarcl.

Section 7" Conduct of the Meetings - Meetings of the Boar,l of Direcior.s sirail be presicied
wer by the Chairman of the Board, or in his absence, by any otlLer director chosen by t6e Board.
The Secretary, sliall act as secretary of every meeting, if not present, the
Cliairman of the
meeting, shall appoint a secrftary of the meeting.

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Section 8. Cornpensation - By- resolution of tlie Board, each dirrrctor shall receive a
reasonable per diem allowance for his attendance at each nlereting; ol' tire l]oard. As
compensation, the Board shall receive and alloc: (e ln amount of not nrr:re ilian ten percent
(10%) of the net income before income tax of the corporation durirrg tlre;,r'skt11,lg year. Such
compensation shall be deter:miued and apportioned among the directors irr.sticlt ntallller as tlre
Boarcl mal'deeltt proper. subject to the approval olsrockholders represen{irre at lcilst a rnajority
oIthc ottlstanding capital stoe k at r reuu]ar or speciaj rrrccting of the stoe ki:,,ide r:

ARTICLE IV
::...

i oFFICERI

Section 1. F.lection / Appointment - Lnmediately after'their election, thu Bcard of Directors

shail formally organize by electing ihe Presideut, 'the Vice-President, the J'r'easurer, and the

The Board tnay, from time to time, appoint suclr other ol'ficers.:.-; it rrruy cletermine to
be necessary or proper. Any two (2) or more posilions rnay be held coni.:un-entl,v by the sarr-re
pcrsoli. excepl that no one sltail act as Prcsi,lcli al:.; . j'casrlrer oi'Sr:e reilir lrt tir,.'ilrne lilne.

Section 2. President - The Presictrent shail be tire Chief E,xecutive Ofilcer oi'iire corporatiori
and shall exercise the followirrg functitlris:

a')TopresideattIrerneetingsofthestockhoiders;:

b.) f'o irtitiate and develop corporate objective$ and policies anri f'crirrirlate
iong
range projects, plrns and progrems,for the approval of the Boar-tl of'llirectors,
including those fsr executive training, developrlerit and compensatru:',. i

c.) Tc supervise and manage the business affairo of the, corpoi;rricrlr upon tfie
direction of tlre Board of Directors; ,

d.) To implemetit the administrative aud operatibnal poli,:ies of rhe ,:orporatiorr

under his supervision dnd controt; ,': : : '

e.) 'fo appoint. retrcve. suspr-,nd or discipr;r,c cnrpioyccs o[ ].. r.,)r {lorittirJrr
prescribe ilieir duties, and determine their saiaries;

f) To oversee ihe preparation of the budget: ru'rd the statetnenrs ot iric.,jnrs of ilt€
corporatiou;

g.) To .epreserl. the c-oi'poration at al1 trnctio,s arrd proceeclings:

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h.) ,.^:^
To execute on behalf of the corporation alL contracts, agreements and other
instruments affecting the interests of the corpo.rtion which require the approval of

i ) To make reports to the Board of Directors and stockholders;

j) To sign certificates of stock;

k.) To perform such othe6 duties as are incident to his office, or are erltrusred to hirn

Section 4. The Vice-Preside'nt -, FIe slrall, if qualified, act as president in the a$sence of the
lafter. He shall have such other powers and duties as rnay lrorn tirne to rirrrc b. uss'igned to hinr
by the Board of Directors or by-l the President.

Section 5. The Secretary - The Secretary must be a rJsident and a citizen ot the philippinbs.
HeshaIlhavethefollowingspecificpowersandduties:.,:

a.) To record'the minutes and transacti"n, lf all meetings of the directors and the
stockholders and to maintain mirrute books of such rneerin"gs in tlre li,r,;r,;;;r;;;;
required by lawj

b.) To keep record books showing the details required by law ryith respect to tlre
stock certificates of the corporation, includin3 ledgers and transfc. books Showing
all shares of the corpora:.ion subscribed. issr'<cl nd t.rnsfen.ed:

c-) To keep the corporate seal aud affix it to all papers and docurlents requiripg a
seal, and to attest by lris signature all corporate documents requiring the same; "

d.) To aftend to the giving and serving of all notices of the corporarion required by
law or these by-laws to be given;

e.) To certify to such corporate acts, countersign corporate douirrnJrts or

certificates, and make reports or statements as may be required of him by law or by
government rules and regplations.
- t

L) To act as inspector at the election ol directors,and. as suclr. Io dclcr.rnirre ilre

number of shares of *stock outstanding and entitled to votr:, the shares of stock
represented at the meeting, the existence of a qmorurn,,the validity arr6 effect
of
proxies, and to receive votes, ballots or consents, hear'and deternrine questions i1
connectiou with the right to vote, coulrt and tabulate all votes, determine tt-," r.".rii
and do such acts as are proper to conduct the elecrron.

g )
To perform such other duties as are incident to liis office or as ilra-\ Lle assigned
to him by the Board of Directors or the presi,;r;rrr,

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Section 6. Tlte Tr.easurer - The Treaiurer of the corpoiation shall have the followirrg cluties:
,.,
a.) fo keep full and accurate accounts of recpipts anddisbLrrsenrents in the brroks of
the corporation;

b.) To have custody of, and be responsible for, ali the funds. securifies ancl bonds
of the corporation;

c.) To deposit in the name aud to the credit 5f tr-,r, rrporation. ili such bank as may
be designatedlfrom time to.tirne by the Board of Directors, all tlre r11oneys, 1unds,
securities. bonds. and sirnilaravaluable eflects beionging to the corpolrrliorr i,i lriclr
rnay come urrder his control:

d.) To reuder an annual statements slrowing the finarrcial conci rrion ol tlre
corporation and such otlter financial reports as the Board of Directtrrs. or $re
President may, from time to time require;

e.) To'prepare such financial reports, ' statemegtJl, certifications aird other
docutnents which may. lrom tirne to time. be required by governmerrt rLrles and
regulations and to submit tlre sarne to the proper go\ ernmetrt agerrcies:
(

f.). To exercise such powers and perfo.,, ,u.i., duties 4nd functions as nray be
assigned to him by the President

,,
Section 7. Term of Oftlce - The term of olfice of all oiilcers shall be orrc (]r rrrr arrcl until
their successors are duly elected and qualified.

liection 8. Vacancies - If an1 position of the olfi,:e -, beconres \ircanI b).reas()r'r ol death,
resignation, disqualification or for any other cause, the Board ol Directors. by rlajority vote
may elect a successor who shall hold office for the unexpired te1m.

Section 9. Compensation - The officers shall receive such renurneratiori as the Board of
Directors may determine. A director shall not be precluded from serving thc corpurltiorr iri any
other capacity as ah officer, agent orotherwise, and receiving.o*p"nririon iircrelLr.
,

ARTICLE V

OFFICES ?

Section l. The principal olfice of the corporarion shall be located ar rhe plr.c srarcti in Article
lll of the Articles of Incorporation. The corporation rnal have such other branch Lrl'tlces, either
rvithin or outside the Pliilippines as the Board of, Directors rrray designate.

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ARTICLE VI
!,.' i ?

AUDIT OF BOOKS, FISCAL YEAR A.NTI} DIVIDENDS

Sectionl. External Auditor- Attheregularstockholders'nreeting rheusrernrl auditorol'the

corporation,for the ensuing y,ear slrall be appointed. The external auditor shall exantine. verify
and report on the earnings and experrses of the cot'ptrr atiorr.

Scction 2. Fiscal Year - Tlre fiscal year of the corporatiol) slrall hcgiri Llll tlte first cllr of'
January and end on lhe lasl day of Decernber ot:lr,^h 1,ear.
t

Section 3. Dividends - Dividends shall be decla4ed and paid out r)t the irrrrestricted retained
earnings which shall be payable in cash. property,lor stock to all stocklioiders on tlre basis of
outstanding. stock held by:them, as ofteu and at such'times, as tlrc BolrJ of Directors rnay

.l

ARTICLE VII
I

SEAt,
I

Section 1. Form and Inscriptions The corporate seal shiill be detennined by rlre Board of
Directors.

A.RTICI.,E VIII
:.,| ' '

AMENDMENTS
, . ': l :
,I

Section 1. Tltese by-laws may be arnended or repealed by the aifirniatire vpte of at ieasr a
rnajority of the Board of Directors and the stockholders representing a nrajority.of the
outstanding capital stock at any stocklrolders' ineeting,called lbr that purprlse. However, rhe
power to amend, modify, repeal or adopt nerv by-iaws tnay be deleglted to the Board of
Directors by the affirtnative vote of stockholders rlpresenti,,j no, lersllr,,,r nro-lhirds ol'tlre
outstanding capital stock: provided. lrowever. rhar any such dcl,-'gallon ol prr\\er.S to rlte Boarcl oI
Directors to amend, tepeal or adopt new by-larvs rnay be revtri,ed,rnlv by the vote of
stockholders representittg a majority of the outstanding capital stock at a regular or speciai
meeting.

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318
 Ih{ WTTNESS WHEREOF, rve, the undcrsigned slockhoiiiers lrar"e adopted tire
foregoing by-iaws and hereunto affixed our 'signatures thi.s -,+?th- day . ol
. 200 at
aii;'$
,i11;1i-:iir
(Note: 1. If rtted winh Articles of Incorporfition, these by-kn's .sh<tuld be signed by all
incorporators,:
'tajl:tt:ti.:.

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2. lffilett aJter incctrporation, should be .sigtecl by ntajorill'of tlrc .slthsrribars
lr-l,trt,s
shotlcl subntit rlirec:tor's certificala Jbr the adopt,iott of thr' t

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