MOTORCYCLE PLAN POLICY FOR NON-FIELD PERSONNEL

COVERAGE :

Regular employees of the company: 1) have been in regular status for at least five (5)
years; 2) with consistent satisfactory performance evaluation, 3) no record of serious
violation of the Code of Conduct (3rd or 4th degree offenses, and has not been
penalized of suspension of 8 days or higher) and, 4) must pass the required take home
pay percentage at the time of availment.

POLICY :

Sharing on the Cost of the Vehicle

The Company and the employee will have 25%-75% sharing (25% Company, 75%
Employee) on the cost of the vehicle, subject to agreed maximum amount of coverage
of the motorcycle plan. If the availing employee wishes to get a motorcycle with a
price higher than the allowed coverage, the excess shall be shouldered by him/her in
full, subject to Management’s approval.

Maximum Amount of Coverage

The maximum amount of coverage shall be Seventy Thousand Pesos (PhP 70,000.00).
This, however, may be reviewed by Management from time to time.

Employee’s Share

The Company may either acquire the vehicle in cash or under financing depending on
the Company’s cash position. In either case, the 75% employee’s share on the value
of the vehicle shall include cost of money (using prevailing rates during availment),
and shall be amortized in three years, deductible from payroll.

Treatment of the Vehicle

The vehicle shall be treated as a company asset or a lease from a Leasing Company
during the availment period of three years. After such, the ownership of the vehicle
shall be transferred to the availing employee. Meantime, the motorcycle shall be for
exclusive use of the availing employee to whom it is assigned.

However, in case of separation of the availing employee from the Company for
whatever reason(s) during the availment period, the vehicle and all incidental
privileges shall be turned over to the Company. Should the employee opt to bring the
vehicle, he should pay the remaining balance (shares of both the Company and the
employee) in full.
Incidental Privileges

Repairs and Maintenance

Ordinary repairs and maintenance incurred by the vehicle will be
shared 25%-75% by the Company and the availing employee.

Insurance and Registration

The vehicle must be covered by a Comprehensive Insurance.
Insurance and registration of the vehicle shall likewise be shared 25%-75% by the
Company and the availing employee. The employee’s share in the insurance may be
advanced by the Company subject to maximum of three monthly deductions from
salary.

Gasoline Allowance
The company will shoulder the gasoline expenses of the vehicle for
official business trips. A separate policy will be issued on the details.

Frequency of Availment

This benefit can be availed of once every three years provided qualifications 2 to 4 are
met.