REPUBLIC OF THE PHILIPPINES )

) S.S.

AFFIDAVIT OF WAIVER AND QUITCLAIM

I, _________________, Filipino, of legal age, single/married and a resident of

__________________________________________________, after having been sworn
in accordance with law, hereby depose and state that:

1. I am an employee of Carels Pharmaceutical Inc. with business address at Unit

1402 The Centerpoint Bldg., Garnet Rd., Ortigas Center, Pasig City.

2. I have filed my voluntary resignation with the Company effective on

_____________________, attaching hereto as Annex “A” is a copy of my
resignation letter.

3. Upon proper computation by the Company’s Finance Department, I am to receive

the amount of ___________________________________ (P ____________) as
final and full settlement of all such salaries and employment benefits in
accordance with the pertinent employment contract provisions and labor laws.

4. I hereby acknowledge receipt of the sum of __________________________ (Php

_________), Philippine currency, representing full satisfaction of all my
remaining salaries and employment benefits and as a further manifestation of the
Carels’ goodwill towards me and for my benefit.

5. Furthermore, I voluntarily and freely acknowledge that I have no claims or right

of action, whether past, present, future or contingent, of whatever nature against
Carels Pharmaceutical, Inc., and any affiliated companies, its officers, that may
arise relative to my employment with the company, acknowledging further that I
had been duly paid all my salaries, emoluments, legal benefits and the like during
the existence of my employer-employee relationship with the company and the
termination of such relationship in view of my voluntary resignation from the
company.

6. I hereby also voluntarily, freely and unconditionally waive any and all such
claims, if any, and in executing this waiver and quitclaim, I have fully renounce
any claims or right of action of whatever nature, whether past, present, future or
contingent against said corporation and its officers, relative to my employer-
employee relationship with the company and the termination of such relationship
in view of my voluntary retirement from the company.

7. I affirm that I was not forced into resignation and I further affirm and confirm my
resignation from the company effective _______________.

8. I fully understand the statements I have made in this document that has been
explained to me in a dialect/language I understand. I have affixed my signature
hereunder voluntarily and freely with full and complete knowledge of the
meaning and intent of this document and of my rights under existing laws.

9. I acknowledge further that any future work or service that I may provide the
company shall be on a contractual basis, as my regular employment with the
company had been extinguished in view of my resignation from the company.
 Affidavit of waiver and quitclaim, Page 2 of 2

AFFIANT FURTHER SAYETH NAUGHT.

IN WITNESS WHEREOF, I have hereunto set my hand this ____ day of

_________ 200__ at _________________________________, Philippines.

__________________
Affiant

Conforme:

________________________________

Human Resources Manager

BEFORE ME, a Notary Public, for and in _________________, Metro Manila,

this ____ day of ______________________, personally appeared
____________________ with his/her CTC No. ____________________ issued at
_____________ on ______________, known to be and to me known to be the same
person who executed the foregoing Affidavit of Waiver and Quitclaim and acknowledged
to me that the same is his/her free and voluntary act and deed.

WITNESS MY HAND AND SEAL on the date and place first herein above
stated.

NOTARY PUBLIC

Doc. No.
Page No.
Book No.
Series of 20__.