DECLARATION OF AGREEMENT FOR THE

REDUCTION OF WORKHOURS/ WORKDAYS AND FORCED LEAVE

We, the undersigned employees of Powerminds of Asia, Inc assigned at Max’s

___________ Branch, hereby ratifies the agreement of management and employees to the
adoption and implementation of the Reduction of Work Hours/ Workday and Forced leave due
to economic difficulty and ongoing outbreak of Coronavirus Disease 19 (COVID 19).

It is expressly understood and agreed that the employees are in favor of, and voluntarily
agree to the aforementioned work schedule in exchange for the following reasons/benefits that
will accrue to the employee:

1. The employees would have more time to

spend for rest, family responsibilities, and other personal matters;

2. The employees would save on commuting

time and transportation fares; and would have lesser risk in the exposure to the
ongoing outbreak of COVID19 because of lesser travel while under the flexible
working hours.

3. The employees would save on meals and

snacks expenses.

4. The employees are rotated or alternately

provided work during the week, hence providing opportunity for take-home pay
while the company is experiencing financial crisis.

5. The employees would be working less than

the normal 48 hours a week and less than the normal 6 days a week and will be
paid according to the actual worked rendered. The computation of salary is
based on the equivalent monthly rate applicable to daily-paid employees and
monthly-paid employees with principle on “no work, no pay” in accordance to law;

6. Total work hours in a week shall not exceed

the normal weekly hours prior to the adoption of the reduction of workdays/work
hours which is forty-eight (48) hours a week.

7. Payment of overtime work, night shift

differentials, holidays and premium pay for rest day and special days shall be
paid in accordance to law.

8. There will be no diminution whatsoever in the

take-home pay.

9. The work arrangement will allow for business

continuity during emergency circumstances such as this pandemic.

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 10. It will reduce store/office energy costs and
give employers the opportunity to cut down on expensive office space and
expenses.  

It is further understood that Management reserves the right to revert to six-day work
week of 8 hours per day should business so require which shall be considered a legitimate
management prerogative, provided that the management shall give the employees prior notice
of such reversion within a reasonable period of time.

This agreement/waiver shall be effective on September 1, 2021 to March 1, 2022 and

shall continue to be in effect and subsisting unless renewed/ modified/ altered by a written
agreement between management and the employees.

_________________________, ____________, Philippines.

NAME STORE DESIGNATION SIGNATURE

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