RELEASE WAIVER AND QUITCLAIM

RELEASE WAIVER AND QUITCLAIM

I, (name of employee), of legal age, residing at _____________________________, hereby acknowledge the involuntary and lawful termination of my employment from _________________________ (the “Company”) effective _________ and manifest and declare that:

1. I have received and been paid the amount of _______________PESOS (P______________) by way of Cash (or Check No. ______________), representing full and complete settlement of my separation pay and/or retirement pay from the Company. I further declare that I have already been paid in full all amounts representing my salaries, allowances and other benefits, monetary or otherwise, due me from the Company, its stockholders, officers, directors, agents and/or its employees, whether such amount, are due me by virtue of any law, Company program, and/ or Company practice.

2. In consideration of the foregoing payments, I hereby acknowledge and accept the involuntary and lawful termination of my employment with the Company and hereby release, remise, waive and forever discharge the Company, its stockholders, officers, directors, agents and/or its employees from any action, whether civil, criminal, administrative or otherwise, or from any claim of any kind or character on account of the termination or cessation of my employment and/or arising out of or in the course of my employment with the Company, such as, for example, salaries, allowances, holiday pay, fringe benefits, separation and retirement pay, etc.

3. I undertake not to do or cause anything prejudicial to the interests of the Company or of any of its departments or divisions or of its officers, directors or stockholders. I also agree that whenever so requested, without any expectation of compensation, except where it involves a considerable amount of my time, I will assist the Company in any reasonable manner that may be requested of me relative to any matter of which I have knowledge by virtue of my previous employment therewith.

4. I will not at any time in any manner whatsoever, directly or indirectly, disclose to any person or entity any confidential information of any kind relating to the business of the Company, including but not limited to, any of its clients or any other confidential information concerning the business of the

Company, its manner of operation, its plans, processes or date of any kind which I acquired, learned or received in confidence during my employment.

5. I shall render every cooperation necessary and obligate myself to turn over and account for all Company records, books, properties, and assets in my possession.

6. I further acknowledge that should I be awarded any claim under any law or any order of a competent authority, the above-mentioned considerations shall be considered full and final settlement of any and all such claims.

7. I have no cause of action whatsoever against the Company, its Board of Directors, its officers or employees in respect of any matter incident to or arising out of my employment with said Company or due to the cessation of said employment.

8. Finally, I have read this document entitled Release Waiver and Quitclaim, and fully understood every word of it and its meaning and have affixed my signature hereunder voluntarily and freely with the full and complete knowledge of the meaning and intent of this document and of my rights under existing laws.

AFFIANT FURTHER SAYETH NAUGHT.

(name and signature of employee) Affiant

SIGNED IN THE PRESENCE OF:

____________________________ ______________________________

SUBSCRIBED AND SWORN to before me this ___ day of ____________, affiant exhibiting to me his Community Tax Certificate No. __________ issued on ____________________ at ___________________________.

Administering Officer

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