PLEDGE OF SHARES OF STOCK

KNOW ALL MEN BY THESE PRESENTS:

This Pledge of Shares of Stock is executed this (insert date) by and between:
(insert name), of legal age, Filipino and a resident
of (state address), hereinafter referred to as the
PLEDGOR;
- and
(insert name), a corporation duly organized and
existing in accordance with laws of the Republic of
the Philippines, with principal offices at (state
address), represented in this act by its President,
(state name of representative), hereinafter referred
to as the PLEDGEE.
-WITNESSETHWHEREAS, the Pledgor has secured a loan (hereinafter referred to as the Debt) from
Pledgee in the amount of (state amount of loan), receipt of which is acknowledged and
confirmed herein by the parties.
WHEREAS, Pledgor, as security for said loan (hereinafter referred to as Collateral),
hereby deposits, delivers to and pledges to Pledgee shares of stock in (state name of
corporation), represented by the following stock certificates:
Certificate Number

No. of Shares

Total Par Value

NOW THEREFORE, the parties agree as follows:

1.

Pledgee may assign or transfer said Debt and the Collateral pledged hereunder
to any third party provided fifteen (15) days prior written notice is given to Pledgor
and Pledgor is given an opportunity to redeem and pay the Debt within fifteen
(15) days from notice.

2.

In the event a stock dividend or further issue of stock in the Corporation is

issued, Pledgor shall pledge said shares as additional collateral for the debt.

3.

During the term hereof and as long as there is no default, Pledgor shall have full
rights to vote said shares and be entitled to all dividends income, except that
stock dividends shall be pledged.

4.

During the pendency of this agreement, Pledgor shall not issue any proxy, voting
trust agreement or assignment of rights to the pledged shares.

5.

Pledgor warrants and represents good title to the shares which are free from
liens and encumbrances or prior pledge with full authority to transfer said shares
as collateral security.

6.

Upon default of payment of the debt, or breach of this agreement, Pledgee or

transferee shall have full rights to foreclose pursuant to law.

7.

Pledgor understands that upon foreclosure the pledged shares may be sold at
public auction or public sale with right to receive reasonable prior written notice of
any said intended sale and with full rights to redeem said shares at any time prior
to said sale upon payment of the balance due, and accrued costs of collection. In
the event the shares shall be sold for less than the amount then owing, Pledgor
shall be liable for any deficiency.

8.

Upon payment of the debt, the shares shall be returned to Pledgor and this
pledge agreement shall be terminated.

9.

This pledge agreement shall be binding upon and inure to the benefit of the
parties, their successors, assigns and personal representatives.

10.

Upon default the Pledgor shall pay all reasonable attorneys' fees and cost of
collections.

11.

This Deed shall be governed and constructed in accordance with the laws of the
Philippines.

12.

All expenses for notarization, Documentary Stamp Tax and other expenses
incident to this contract shall be for the exclusive account of the Pledgee.

13.

This Agreement constitutes the entire understanding between the parties and
may only be modified, altered or amended only with the prior written consent of
the party of or parties against whom, such modification, alteration, or amendment
shall take effect.

IN WITNESS WHEREOF, the parties have executed this Agreement on the date and
place above specified.
PLEDGOR

PLEDGEE
SIGNED IN THE PRESENCE OF:

________________

___________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
)S.S.
BEFORE ME, this (insert date) in (insert place), personally appeared:
Name

CTC No.

Issued at

Issued on

known to me to be the same persons who executed the foregoing instrument consisting
(state number of pages) 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 sea on the date and place
above written.
Notary Public
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of ______.