SyCip Gorres Velayo & Co. Tel: (632) 891 0307 BOA/PRC Reg. No.

0001,
6760 Ayala Avenue Fax: (632) 819 0872 December 14, 2015, valid until December 31, 2018
1226 Makati City ey.com/ph SEC Accreditation No. 0012-FR-4 (Group A),
Philippines November 10, 2015, valid until November 9, 2018

December 9, 2020

[EMPLOYEE NAME]
Makati City
PRIVATE AND CONFIDENTIAL
Dear:

We are pleased to inform you that we are engaging your services effective January 4, 2021 under the
following terms and conditions:

1. Your official designation in SGV & Co. will be as an Associate in the Assurance Practice.

2. Your compensation (including pay for Sundays and legal holidays), which is payable semi-
monthly, is composed of the following:

Monthly Annual

Basic Pay P P
De Minimis
Total P
Midyear Bonus
13th Month Pay
Total P
---------------------------------------------------------------------------------------------------------------------------
(a) Annual salary will be reviewed every year based on the firm’s compensation policy.

(b) You will be given permanency adjustment depending on your performance.

(c) 13th Month Pay is one (1) month compensation. During your first year of service, it is computed
on a prorata basis depending on the number of months of service by December of this year.

(d) Midyear bonus is one (1) month compensation given a full year of service payable in May of
each year. During your first year of service, it is computed on a prorata basis. The staff should
be an active employee upon payout to be entitled to the said bonus.

(e) Total annual compensation is composed of but not limited to 14 months pay (12 months
worked pay plus 13th Month Pay and Midyear bonus).

You will also enjoy the benefits and privileges accorded to other Firm staff of your level,
including participation in the Provident Plan, the medical/dental plan, group major medical
insurance, health bonus, group accident insurance, 13 days sick leave and 12 days vacation
leave, among others.

3. You are being engaged on a probationary basis for a period of six months starting January 4, 2021
and ending on July 3, 2021. Within and prior to the end of this six month-period, the Firm reserves the right
to terminate your services for just cause/s, and we will exercise exclusive discretion not to engage you for
regular employment if you fail to satisfactorily meet our standards for regularization of probationary
employees.

4. You agree to devote full time to the Firm. Full time shall be defined to mean the regularly
established working hours of our Firm, plus any overtime dictated by the needs of our Firm. The
overtime may include your scheduled rest days which are Sundays or legal holidays.

A member firm of Ernst & Young Global Limited

 Page 2 of 5 [EMPLOYEE NAME]

5. You agree to submit your time report on time as announced. Late submission would mean
withholding your salary until the next payroll period.

6. You agree to complete the EYLeads Independence Web-Based Learning (WBL) within thirty (30)
days and GMS Independence Confirmation within twenty one (21) days upon employment in the
Firm. It is the Firm’s policy to comply the Independence WBL which is a mandatory criteria for
probationary confirmation. You will receive a copy of the details of the current rules on
Independence module and will be discussed during your first day in the Firm.

7. You agree not to seek employment and not to undertake any work as management or tax
consultant, accountant, auditor or bookkeeper, directly or indirectly, for any person, firm, or
corporation, as long as you are a staff member of our Firm. You are not to accept any position even
if outside the regular office hours of the Firm nor any other form of employment engaging your
services, unless with the prior written consent of the Firm. You are not to assist, aid, or encourage
any competing enterprise, company or firm by the furnishing of information, advice or suggestions
of any kind, save and except after obtaining the prior written consent of the Firm.

8. You agree that all matters becoming known to you through your work will be held in strictest
confidence even when you are no longer in the employ of the Firm. This means that you shall not
pass on, convey or disclose to any person, organization, or entity, any information disclosed or
made available to you during your employment or make similar disclosures on recommendations
submitted, except with prior written consent or instructions of the Firm.

9. Prior to and in the course of your employment, you agree to inform the Talent Team if your spouse
or any member of your immediate family is, or becomes connected with a government entity that
has authority and supervision (like the Bureau of Internal Revenue, Securities and Exchange
Commission, Bangko Sentral ng Pilipinas, Anti-Money Laundering Council, and similar government
institutions) over some or all of the activities and affairs of the Firm or of any client of the Firm in
connection with which you may have any involvement by reason of your work. In the event of any
conflict or issue (whether actual, potential or perceived), you agree and understand that the Firm
reserves its right to transfer you to another group.

10. You agree to keep SGV, both during and after your employment with the Firm, fully and effectively
indemnified against any and all lawsuits, losses, damages, injuries, deaths, expenses, actions,
proceedings, demands, costs and claims, including but not limited to legal fees and expenses, that
are brought against SGV or any third party, where such lawsuits, losses, damages, injury or death
is/are the result of your wrongful actions, negligence or breach of contract, including but not limited
to actions done outside the scope of your employment, or improper, unlawful, or irresponsible
actions or the use or violation of any copyrighted work or literary property or patented invention,
process, software, formula, design, plan, or system, and other similar properties.

11. You shall not enter into any contractual agreements on behalf of SGV with any third party;
negotiate or sign side letters, memoranda of understanding or similar documents that will legally
bind the Firm, or issue instructions or orders in the name of the Firm, or amend, revoke, modify, or
change any contract or agreement signed by the Firm, or modify any policy of the Firm regarding
the management of our projects or policies affecting personnel administration, financial
management, or similar aspects except with prior written consent or instructions of the Firm. Any
actions by you which are in violation of the foregoing stipulations will be considered by us as null
and void and non-binding; and as, appropriate, we will exercise the discretion to take legal action
against you.

12. You agree to accept any assignment to any location whether within or outside the Philippines, if
and when so requested by the Firm.

13. You agree that you may be seconded or temporarily assigned or your employment be transferred to
another EY member firm or subsidiary or affiliate of the Firm, if and when deemed necessary by the
Firm, where you will have substantially similar functions as of the time of the transfer and enjoy the same
rank, salaries, and other benefits to which you were entitled in the Firm.
 Page 3 of 5 [EMPLOYEE NAME]

14. Your employment will be held pending the results of your medical examination. If the results of your
medical examination show that you are employable, you will be accepted in our Medical Plan at
regular rates. The Firm, however, will not share in any medical expense which you may incur as a
result of any defect which is included in the rider to your pre-employment medical examination
report.

15. You agree to keep your compensation confidential and, as such, will not discuss it with anyone
within and outside the Firm.

16. You agree that in case you decide to leave the Firm

a. You will not work with any accounting or management or tax consulting Firm within the
Philippines whose line of business is in direct competition with SGV & Co within a
period of two years from the time you leave the Firm. These competing Firms include,
but are not limited to, the following: Isla Lipana & Co., Punongbayan & Araullo, KPMG
RG Manabat & Co., Navarro Amper & Co., and Reyes Tacandong & Co. If you violate
this provision of your employment contract with us, you agree to pay SGV liquidating
damages computed at 50% of your compensation for the last twelve months.

b. You will give prior notice of not less than 30 days or one month and that you will pay in
lump sum before resignation, your accountabilities with the Firm which may include but
are not limited to outstanding loans, unliquidated advances, and penalties related to
any supplementary contracts that may be entered into in the course of your
employment.

C. You agree that in case you resign from the firm within one year after your completion of
the extensive Global Audit Methodology (GAM) training conducted in the Philippines,
you will reimburse the Firm the full amount of the training cost for ASSR 101 and 102
training for entry-level audit staff (Associate 1). The total training cost is Php 30,000
which includes your salary and related training expenses. In case of non-
reimbursement of your cost of training at the time of your resignation, you further agree
that we shall inform your new employer about your accountability to our Firm.

Please indicate your acceptance of the terms and conditions of this contract by signing in the space
below.

We welcome you to the Firm. We trust that with your decision to work with SGV, you will make your
contribution for our mutual success.

Very truly yours,

SGV & Co.

JULIE CHRISTINE O. MATEO

Partner CONFORME:
Talent Team

______________________________
/ccb [EMPLOYEE NAME]
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Annex A

OTHER CASH COMPONENTS

Clothing Allowance1 ₱ 3,000.00

2
PRC and PICPA Reimbursements 1,200.00
Medical/Dental/Optical Allowance 3,000.00
Christmas Gift Certificate3 1,500.00 ₱ 8,700.00

NON-CASH COMPONENTS

Professional Tax Receipt (PTR)4 ₱ 300.00

5
Membership in Staff Provident Fund 14,160.00
Annual Medical Insurance premium6 3,504.84
Annual Life and Accident Insurance premium7 521.00
12 Days Vacation Leave 10,482.76
13 Days Sick Leave 11,356.32
Christmas Party Subsidy 600.00
Summer Outing Subsidy 800.00
Firm’s Share on Statutory Benefits:
SSS8 14,504.00
Philhealth9 2,850.00
PAG-IBIG10 1,200.00 ₱ 60,278.920

TOTAL OTHER CASH COMPONENTS and

NON-CASH COMPONENTS ₱ 68,978.92

1 One-time allowance to be given during the first month of stay in the Firm.
2 Expenses for initial registration will be reimbursed as soon as all the required documents are submitted.
3 Staff with less than one (1) year tenure will initially receive Php1,500 which is 50% of the full amount of
Php3,000.
4 To be processed by the Firm for its staff.
5 Estimated annual contribution of the Firm to the provident fund based on total monthly salary of
Php16,000.
6 Medical Insurance Coverage at Php110,000 per sickness per year per staff and qualified dependent (i.e.
spouse or children).
7 Life insurance coverage with accidental death and disability benefit is two times the annual basic salary.
8 Total employer share based on maximum monthly salary credit of Php16,000.
9 Employer contribution is based on the specified salary range for PhilHealth premium.
10 Fixed rate at Php100 per month.
Page 5 of 5 [EMPLOYEE NAME]

JOB IDENTIFICATION

Job Title Associate

Service Line Assurance
Sub-service Line
Domain Customer
Key Organizational Relationships
Reports to Senior Associate
Internal Interaction Partner and Managers
External Interaction Clients
Supervises N/A

JOB SUMMARY/KEY PURPOSE

Participates in audit engagements and other Firm activities under the supervision of more
experienced staff members. Prepares himself/herself for more responsibilities in the Firm.

JOB RESPONSIBILITIES
Technical Requirements and Duties

► Has knowledge of the theory, standard, and principles of accounting and auditing and their
applications to client situations. Develops an understanding of the field of public
accounting and the meaning of the “one-firm total service” concept.
► Evidences ability to communicate effectively, both orally and in writing.
► Develops a thorough understanding and appropriate use of auditing techniques.
► Under the supervision and review of a more experienced staff member: obtains
competent evidential matter to substantiate the fairness of client’s financial statements;
prepares schedules, summaries and reports based on findings; assists in office functions
and on special assignments.
Organizational Responsibilities

► Plans and organizes activities to make use of time.

► Completes assignments within the time considered reasonable for the particular task.
► Keeps the person in charge fully informed of progress on assignments, etc.
► Conforms to the Firm’s administrative policies and requirements, and those of client’s
as applicable.
Responsibilities to Clients

► Has sincere interest in client’s welfare and develops the respect, goodwill and
cooperation of client personnel.
► Demonstrate flexibility and resourcefulness in adapting to client situations.
► Complies with established rules of professional conduct while working in client’s offices
and associating with client’s employees and others.
Responsibility to Develop our Services

► Knows the general nature of Audit and Business Advisory, Tax and Specialty
Consulting services offered by the Firm.
► Recognizes the opportunities for additional client services and client development. Advises
staff in charge of assignment about client procedures which can be improved and is alert
to other client problems and issues where we could be of help.