MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

REYMOND C. MABUNGA ,legal age residing at BLK 60 LOT 9 PH2 Paliparan 3, City of Dasmarinas,
Cavite, RIZA C. LAMANG, legal age residing at BLK 14 LOT 5 Brgy.San Isidro Labrador 2,City of
Dasmarinas Cavite, HERSHEY GAIL A. ISANAN, legal age and residing at BLK 6 LOT 5
Brgy.Luzviminda 1, City of Dasmarinas Cavite. Hereinafter referred to as the PARTY OF THE FIRST
PART;

-AND-

___________________________________, single/married to____________________, of legal age

and residing at _______________________________________________________, hereinafter referred
to as the PARTY OF THE SECOND PART;

-WITNESSETH-

WHEREAS, the PARTY FOR THE FIRST PART are co-owners of BROWTOEFUL WAXING NAILS
AND LASHES STUDIO hereinafter referred to as “BUSINESS” ) located at 3RDfloor,Wellness Lane
Vista Mall Dasmarinas,Cavite.

WHEREAS, the PARTY OF THE SECOND PART has expressed its willingness to invest in the
BUSINESS and the PARTY OF THE FIRST PART has accepted the same under the terms and
conditions set forth hereunder;

WHEREFORE, the PARTIES hereby agree that:

1. BUSINESS. The BUSINESS is the operation of a beauty studio to be managed by the PARTY
OF THE FIRST PART.
2. CAPITALIZATION. The BUSINESS shall have a capitalization in the sum of SIX MILLION
(PH6,000,000.00).
3. CONTRIBUTIONS. The PARTY OF THE FIRST PART shall contribute the total sum of TWO
MILLION FOUR HUNDRED THOUSANDPESOS (Php2, 400,000.00), the sum of THREE
MILLION SIX HUNDRED THOUSAND PESOS (PHP3, 600,000.00) shall be raised from the
contributions of other interested persons including the PARTY OF THE SECOND PART.
4. CONTRIBUTION OF THE PARTY OF THE SECOND PART. The PARTY OF THE SECOND
PART shall contribute the sum of
_______________________________________(PHP__________).
5. USE OF CONTRIBUTIONS. Any contribution made shall be used exclusively for the one year
security deposit, overnight construction fee, purchase of equipments, interior, construction,
furnishings and furnitures, Point of Sales(POS), 3months bufer of supplies,necessary for the
operation of the business and as operating capital thereof.
6. MINIMUM CONTRIBUTION & RETURN. The minimum contribution shall be THIRTY
THOUSAND PESOS (PHP30, 000.00) each of which is equivalent to ONE (1) slot. Each slot
shall have a return of Half of one PERCENT (.5%) of the NET PROFIT AFTER TAX every end
of each quarter.
7. NET PROFIT. The NET PROFIT shall be the sum obtained after deducting the GROSS
EXPENSES andTAXES from the GROSS SALES. It is understood that no dividend shall be
given if the operation for the quarter results in net loss.
8. PERIOD. The contribution shall be locked for a period of (5) years from the time the same is
made. After the lapse of the period, the SECOND PARTY may opt to (i) renew this contract (ii)
enter into a new contract with mutually agreed terms and conditions or (iii) to demand the cash
equivalent of ONE PERCENT (1%) of the NET ASSETS of the BUSINESS as appraised by an
independent Certified Public Accountant for every THIRTY THOUSAND PESOS (PHP30,
000.00) contribution.
 9. CLOSURE/CESSATION OF BUSINESS: In the event of closure/cessation of business for
whatever reason, the assets of the BUSINESS shall be liquidated and the PARTY OF THE
SECOND PART shall be entitled to a cash equivalent of HALF OF ONE PERCENT (.5%) of the
NET ASSETS of the BUSINESS as appraised by an independent Certified Public Accountant for
every THIRTY THOUSAND PESOS (PHP30, 000.00) contribution.
10. OPENING. The BUSINESS shall not start its operation until and unless the full capitalization of
SIX MILLION PESOS (PH6,000,000.00) shall have been paid off /collected. The BUSINESS
which is at the signing of this Agreement is in the construction phase shall start its operation not
later than January 2020.
11. FINANCIAL REPORT. The PARTY OF THE FIRST PART shall have the obligation to prepare
and present a financial statement disclosing the revenues received and expenses incurred for the
quarter complete with supporting documents.

IN WITNESS WHEREOF, we have hereunto set our hands this________________in the City of
Dasmarinas,Cavite.

REYMOND C. MABUNGA RIZA C. LAMANG

HERSHEY GAIL A. ISANAN

_______________________________