RELEASE WAIVER AND QUITCLAIM

KNOW ALL MEN BY THESE PRESENTS:

That A. MACALINDONG DEVELOPMENT CORPORATION, a domestic corporation

properly established and registered under the laws of the Republic of the Philippines, with
business address at Camastilisan, Calaca, Batangas, through its authorized representative and
assigned Project-in-charge, FREDIOLIN E. LAZARITO JR., has entered into a joint
venture/project with RIOFIL CORPORATION a domestic corporation properly established and
registered under the laws of the Republic of the Philippines with business address at Unit 1704-
1706 Hanston Square, 17 San Miguel Avenue, Ortigas Center, Pasig City, Metro Manila for
ALPLUS-CPIP EXPANSION & TPD RELOCATION PROJECT with total project cost of EIGHT
HUNDRED THIRTY SEVEN THOUSAND ONE HUNDRED THIRTY PESOS AND EIGHTY TWO
CENTS (PHP 837,130.82) Philippine Currency inclusive of VAT.

That from said project A. MACALINDONG DEVELOPMENT CORPORATION is entitled to

ten percent (10%) retention of the total contract price which is equivalent to EIGHTY THREE
THOUSAND SEVEN HUNDRED THIRTEEN PESOS AND 082/100 CENTS (PHP 83,713.082)
Philippine Currency.

That FREDIOLIN E. LAZARITO JR., as authorized representative of A. MACALINDONG

DEVELOPMENT CORPORATION, do by these presents acknowledge receipt of the sum of
EIGHTY THREE THOUSAND SEVEN HUNDRED THIRTEEN PESOS AND 082/100 CENTS
(PHP 83,713.082) in the form of CASH/BANK TRANSFER/CHECK with Bank Check No.
____________, dated ____________ (if applicable) from RIOFIL CORPORATION, representing full
payment of all amounts due to A. MACALINDONG DEVELOPMENT CORPORATION under the
agreed terms and conditions under the contract with RIOFIL CORPORATION or under any
existing agreement with respect thereto including any and all claims of whatever kind and nature
which I have or may have against RIOFIL CORPORATION.

In consideration of said payment, I do hereby quitclaim, release, discharge and waive any
and all actions of whatever nature, expected, real or apparent, which A. MACALINDONG
DEVELOPMENT CORPORATION may have against RIOFIL CORPORATION, its directors,
officers, employees, agents and clients by reason of or arising from said ALPLUS-CPIP
EXPANSION & TPD RELOCATION PROJECT.

A. MACALINDONG DEVELOPMENT CORPORATION will institute no action, whether

civil, criminal, or administrative against RIOFIL CORPORATION its directors, officers,
employees, agents and clients. Any and all actions which A. MACALINDONG DEVELOPMENT
CORPORATION may have commenced either solely in its name or jointly with others before any
office, board, bureau, court, or tribunal against RIOFIL CORPORATION, its directors, officers,
employees, agents and clients are hereby deemed voluntarily withdrawn by A. MACALINDONG
DEVELOPMENT CORPORATION and will no longer pursue or continue to prosecute said
action(s).

I declare that I have read this document and have fully understood its contents. I further
declare that I voluntarily and willingly executed this RELASE,WAIVER, AND QUITCLAIN with full
knowledge of our rights under the law.

IN WITNESS WHEREOF, I have hereunto set my hand at Calamba City, Laguna this 10
October 2020.

FREDIOLIN E. LAZARITO JR.

PROJECT IN CHARGE

REPUBLIC OF THE PHILIPPINES)

CALAMBA CITY, LAGUNA )S.S.

SUBSCRIBED AND SWORN TO before me this 10 October 2020 at Calamba City, Laguna, affiant
exhibiting to me his SSS No. 03-8763523-7 with digital picture and signature to prove identity.