ACKNOWLEDGMENT RECEIPT WITH

RELEASE WAIVER AND QUITCLAIM

KNOW ALL MEN BY THESE PRESENTS:

That PPC ASIA CORPORATION, a domestic corporation duly organized

and existing under the laws of the Philippines with principal office address at
4/F PPC Tradenology Center 1008 Quezon Avenue, Paligsahan D4, Quezon City
1100, by and through the undersigned representative, do by these presents
acknowledge receipt of the sum of Pesos: FIVE HUNDRED EIGHTY THOUSAND
PESOS (580,000.00Php), Philippine currency, from MR. MATEO G. TAYAG III in
behalf of ALPHA 2 GENERAL MERCHANDISE, representing the full payment of the
latter’s outstanding obligation to PPC Asia Corporation.

In consideration of said payment, PPC Asia Corporation do hereby

quitclaim, release, discharge and waive any and all actions of whatever nature,
expected, real or apparent, which it may have against ALPHA 2 GENERAL
MERCHANDISE/MR. MATEO TAYAG III by reason of or arising from its
purchases of various automobile products, parts and accessories from PPC Asia
Corporation. PPC Asia Corporation will institute no action, whether civil or
criminal against ALPHA 2 GENERAL MERCHANDISE/MR. MATEO TAYAG III.

IN WITNESS WHEREOF, I have set my hand at 4/F Tradenology Center,

1008 Quezon Avenue, Quezon City, this ___day of ______ 2019.

PPC ASIA CORPORATION

Represented by

DARIUS LETADA

Republic of the Philippines)

Quezon City ) S.S.

SUBSCRIBED AND SWORN TO BEFORE ME, in Quezon City, this __ day of

_________ 2019. Affiant exhibiting to me his competent proof of identity.

Notary Public
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of 2019.