123 Euro Drug

EMPLOYEE LOAN AGREEMENT

This Employee Loan Agreement is entered into on October 28, 2023 by and between:

123 Euro Drug Inc., a corporation duly organized and existing under the laws of the Philippines
with principal place of business at 3F Richmonde Tower, Iloilo Business Park, Mandurriao,
Iloilo City, herein referred to as “Company/Creditor”;

And

Juan Dela Ponce, Filipino, married, with address at Sitio 9, Viejo, Sto. Niño, Iloilo City, 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 THREE HUNDRED FIFTY-SEVEN THOUSAND, EIGHT HUNDRED NINTY-
FOUR PESOS AND SEVENTY-ONE CENTAVOS PHILIPPINE PESO (P 357,894.71) (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 bi-monthly payment (via salary deduction)
of Two Thousand, nine hundred eighty-two pesos and forty-six centavos (P2,982.46) for
twenty (60) consecutive months.

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

Company/Creditor to deduct the amount of Two Thousand, nine hundred eighty-two
pesos and forty-six centavos (P2,982.46) per salary cut-off from the Employee/Creditor’s

EE LOAN AGREEMENT 1
 salary starting from October 28, 2023 to Sept. 29, 2028 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.

7. Separation Clause. If the employee decides to resign/terminated, his/her entire

remaining balance shall become due and demandable upon demand. He/she shall settle
his/her remaining balance based on a new agreement to be executed.

Signed in Iloilo City on this 28th of October 2023.

Employee/Debtor’s Signature: Juan Del Ponce

Date: October 28, 2023

Company/Creditor’s Signature:
Date :

Witnesses:

______________________ ___________________________

EE LOAN AGREEMENT 2