MKS8 MODULAR KITCHEN

CABINET TRADING, INC.

EMPLOYEE LOAN AGREEMENT

This Employee Loan Agreement is entered into on ___(date)___ by and between:

MKS8 MODULAR KITCHEN CABINET TRADING, INC., a Philippine company, with registered
address at B7 L3 Camella Pristina Homes, Buhay na Tubig, Imus Cavite, herein referred
to as “Company/Creditor”;

And

ROBERTO GONZALES, Filipino, married, with address at

_______________________________ herein referred to as “Employee/Debtor”.

(Each of the Company/Creditor and the Employee/Debtor may be referred to as a

“Party” in the singular and “Parties”, collectively)

WITNESSETH: THAT

WHEREAS, the Employee/Debtor has requested a loan from the Company/Creditor in

the amount of Sixty Thousand Philippine Peso (P 60,000.00) (the “Loan”);

WHEREAS, the Company/Creditor has agreed to extend a loan to the Employee/Debtor

subject to the terms and conditions set forth herein;

NOW, THEREFORE, for and in consideration of the foregoing premises and of the
mutual covenants and agreements hereinafter stated, the Parties agree as follows:

1. Loan. The Company/Creditor has extended the Loan to the Employee/Debtor,

the full amount of which is acknowledged to have been received by the
Employee/Debtor.

2. Interest. The Loan is extended to the Employee/Debtor without any interest.

 3. Payment Schedule. The Employee/Debtor shall pay the Loan in installment. The
Parties agree that the Employee/Debtor shall make a monthly payment (via
salary deduction) of Three Thousand Philippine Pesos (P3,000.00) for twenty
(20) consecutive months.

4. Salary Deduction. The Employee/Debtor hereby authorizes the

Company/Creditor to deduct the amount of Three Thousand Philippine Peso
(P3,000.00) per month from the Employee/Creditor’s salary starting from
______(date)_____________ until the amount of the loan is paid in full.

5. Payment of entire outstanding balance. The Employee/Debtor further agrees

that the entire outstanding balance will be deducted from the Employee/Debtor’s
final salary upon resignation or termination from employment with the
Company/Creditor.

6. No additional loan. The Parties likewise agree that no further loan of any kind
shall be extended to the Employee/Debtor until he has paid the amount of the
loan in full, subject to the discretion of the Company/Creditor.

Signed in Imus City, Cavite on this _____ of 2021.

Employee/Debtor’s Signature: ____________________

Date :_____________________

Company/Creditor’s Signature: By _____________________

Date : ___________________

Witnesses:

______________________ ___________________________