RELEASE, WAIVER AND QUITCLAIM

KNOW ALL MEN BY THESE PRESENTS:

xxx

In consideration of which -

1. I now hereby release, remise and forever discharge ABC, its

successors-in-interest, affiliates, stockholders, officers, directors, employees
or agents from any action, sum of money, damages, claims and demands
whatsoever, in relation to my employment with ABC, including claims for
reinstatement or separation pay, unpaid wages, thirteenth month pay,
holiday pay, premium pay, service incentive leave pay, and all other claims
arising from or in connection with my said employment. The intention of
this instrument is to absolutely release ABC as well as its successors-in-
interest, stockholders, officers, directors, agents or employees from all
liabilities arising from the above mentioned case.

2. I further warrant that I will institute no further action against

ABC, its successors-in-interest, affiliates, stockholders, officers, directors,
employees or agents. I also manifest that the payment by ABC of the
foregoing amount shall not be taken by me, my heirs or assigns as a
confession and/or admission of liability on the part of ABC, its successors-
in-interest, affiliates, stockholders, officers, directors, employees or agents
for any matter, cause, demand or damages I may have against or any or all
of them.

3. I acknowledge that I have received all amounts and benefits

that are due from ABC. I also acknowledge that during the entire period of
my employment with ABC, I received and was paid all wages and salaries,
compensations, benefits and privileges to which I was entitled under all
laws, policies of and agreements with ABC by reason of such employment;
and if I hereafter be found in any manner to have been entitled to any
amount, the above consideration is a full and final satisfaction of any and
all such undisclosed claims.

4. I acknowledge that I have no more claims or rights of action of

whatsoever nature regarding any matter, whether past, present or
contingent, nor do I have any further complaints, case or grievance
whatsoever against ABC, its officers, directors, employees, agents or
assigns in respect of any matter incident to or arising out of my
employment with ABC. I further warrant that I will institute no action and
will not continue to prosecute pending actions, if any, against ABC, its
officers, directors, employees, agents or assigns.

5. I further undertake and agree that I will not publish or circulate

any malicious or misleading remarks about ABC its subsidiaries, affiliates,
officers, stockholders, directors, agents or other management personnel.

6. I finally declare that I have read this document, which has been
fully explained to me in English and in Pilipino and the release, waiver and
quitclaim hereby given are made willingly and voluntarily and with full
knowledge of my rights under the law.