AGENCJ AGREEMEI{T

This instrument executed this &5n day

"/ of tlilLf eo?, in Makati Citv.
Philippines, by and between:

CHARTER PINC A]\ TNSURANCE CORPORATION,

a corporation duly organized and existing under Philippine law,
with main offices at GT Tower [nternational, 6{i I 3 Ayala Avenue corner
Ii. V. Dela Closta St., Makatr City, represented herein by its

Distributor Licensing
MArCA g. FRANCTSCO

hereinafter called the COMPANY;

and

P$)ln antce n. xa*qua

Name of Distributor

a duly licensed Ordinary Insurance Agent with offices located at

Gf 7o*ar -Toicraah'o,a /, bg t3 Ay a/c Av coo c coro r tt. V. h tq h, lq Sl.

hereinaiier called the AGENT

WiTNE,SSETH
I. TIIE AGENCYAGREEMENT

The relationship befi,veen rhe COMPANY anri its AGEI\IT is in no way an

errr^pl,;yer-employee relationship. As an agent and therefore an extension of tire
company, the AGENT is authorized to perform all acts within the scope af ther
Agent's authority prescribed under this contract which rnay be rnodified I'rom
time lo time. Charter Ping An Insurance Corp. has no control over the time, place,
manxer and mode of soliciting insurance. However, the AGENT shall be subject
to company policies, memo/circulars, rules and regulations which rnay be issued
frorn tirne to time by L'harter Ping An andlor the Insurancc Comn'lissioner.

IL AUTHORITY OT' TIIE AGENT:

Subject to the terms oi this instrument, the CONIPANY hereby authorizes the
AGEI{T to act on its behalf as flollows:

1. Ti; solicit applications for Fire" Marinc" Marine Huil, Motor Car and Casualty
Insurance Policics, Personal Accident, Surety and Fidelity Bonds on bchalf of
/.1- ^ /!nItD I f,I\/-
iliu t-Lr.YtI-./tLt r,
 Agcusv AgreelnPnl

2. To coltrect prerniums for the corresponding policies issucd by the COMPANY

pursuant to the AGENT'S solicitation in the amounts required by the
COMPANY as per the COMPANY'S premigm rates which are hereto
incorporated by rcference;

3) ''t'o give receipt for the above mentioned premiums only in the receipt form set
by the COMPANY.

The COMPANY shall nor trc iroun<lby an act of the AGFINCY beyond the scopc oithe
ACI{NT'S authority as spcci{icd above.

lnaddition to the limits gf tl-rc AGENT's autlrority as aforcmcntioned, thc

AGENT shall not have the authority to do the foliowing:

l) To process or approve applical.ions for insurancc;

Z) '1'o waivc or amcnd any prcvision of thc polic.v or appliciltion or an,v other
requirement o1' the CONIPT{NY;

3) To appoint a sub-agent:

4) 'Ib any of the rights of the ACENT without the prior written conssnt
assign
of thc COj!IPANY;

5) 'Io refer any clairn to an adjuster;

6) To sglicit applications, receive premiums or otherwise actonbehalf of the

CON{PANY a{ler the latter has sent a letter to the AGIINI''S tenninating or
suspenrling the AGENT'S authority or otherwise infbnning the AGEI{T not
to act as one rrn irehalf of the COMPANY.

ITI. WARITA\'TTES OF''THH, AGL,NT

The authority grantecl by the COIUPANY to thc AGtrN'f is premised oir the
warrant,v of-the AGENT that the AGENT possesses a valid Cerlificate of
nuthoriiy from rhe Ofilce of the Insurance Commission; that tire AGEF{T rviii
ceintinue to possess such Certihcate of Authority cluring the ACEI\CY; and that
the AGENT wiil laithfully comply with all the laws and regulations relative to
the execution oltlre Agency r\greement.

rv. oBr,rGATroNS OF TIIE AGENTI

i) 'fo hoicl in trust fbr the COMPANY all insurance prenriums cr:iiected
or received by the ACENT;

Z) Not ro dcliver any policy issueci by the COMIIANY unless and until the
luli prcmium thcrefore in accordancc with the CON{PANY's prcmium ratcs
is paicl:
\
 Agengy AgIgemgnt

The AGENT shall have no claim for commission on any insurance unless his
name and signature appear on the application for such insurance. All businesses
solicited by more than one AGENT shall be construed as joint business and the
commission thereon shall be divided equally among the AGENTS whose names
and signatures appear on the application.

The AGENT shall, on demand by the COMPANY, return to the COMPANY the
whole or part of the commission paid on any policy solicited by the AGENT
should thc COMPANY, for any rcason, returncd to the Assured the wholc or part
of thc prcmiums of thc policy.

VI. AMENDMENTS:

No amendments of this instrtnncrrt shall be cffectivc against the COMPANY

unless made in writing and signed by its Prcsidcnt or its Vice Prcsident for
Markcting. The tcrms of this AGENCY AGREEMENT may be amcndcd by the
CIOMPANY through letters or circulars signcd by the COMPANY'S Presidcnt or
Vice President for Marketing. Such amendment shall take effect prospectively
after they are signed by the COMPANY and the AGENT.

\TI. WAIVER:

Mere t'ailure on the part of the COMPANY to exercise any of its right shall not be
considered as a waiver thereof. No waiver of right shall be efTective against the
COMPANY unless in writing and signed by its President or its Vice President fbr
Marketing.

VIII. SET.OF:

'Ihe COMPANY may, at its option, deduct from any amount payable by the
COMPANY to the AGENT any liability that the AGENT may have in favor of
the COMPANY.

IX. TERMINATION/SUSPENSION OF THE AGENCY:

The AGENCY, being confidential in nature, rnay be suspended or tenninateci at

will by the COMPANY fbr loss of confidence or for any other reason as mav be
determined solely by the judgment of the COMPANY.

Said termination or suspension by the COMPANY shall be effective upon the

sending of writtcn noticc of such termination or suspcnsion by thc COMPANY
to thc AGENT. Thc AGENCY shall also autonratically tcrrninate upon
revocation ol' the AGENT'S Certificatc of Authority by the officc ol' thc
{ Insurance Commission or non-renewal of the same at its due date.

upon tennination or suspension of the AGENCY, the AGENT shall cease to

havc any authority to act on behalf of the COMPANY, and il'said tcrmination or
suspension is duc to non-perfbnnancc by the AGENT of its obligation or to non-
{ compliancc with thc COMPANY'S rules, rcgulations, policies or instructions, or
those of thc Office of the Insurancc Corrunission, thc Agent shall forfeit any
 PROFIT SHAzuNC AGREEMENT

THIS AGREEMENT, made this 26'tt day of Vtll 20r3 by and

between (hereinafter
called the COMPAIYY) and PCUIF Sttltct| o. Fgwtlt4 (the AGENT).

wiINESSETH
WHEREAS, the COMPANY and tlrc AGTINT cntcred into a certain
Agcncy Agreerncnt donc at Makati Cit5, on the 35n day of VaLf fltr, which is
hereby rclerred to and f,onn part otas thlly and amply lbr alt inlcits ancl purposcs
as of recited at length hcrein.

NOW TI{EREFOIIE, if the AGENT shall comply rvit}i all othcr ierms and
of th* agroement (Ali premiums rnd other indebtcdness clf the ACEF{T to thc
ce":nditions
COMPANY being paid to thc COMFANY and nat othorwise), the CO&!FANy will
rcndcr an accounting of annual net underwriting profits realizcd by the COMPANY f,rorn
bu:;inesses written by the ,AGENT under said Agreement, such profits to be calculated
from the records of the CON{PANY and to consist of the dil'ference between Income anrl
Outgo, as tollows:

INCAME
1) Net pren"liurr (which as used in this Agreement shatrl be construed as gross
premiunr less cancellations or returns and the net cost of facultative
reinsurance andlor proportionate share of the non-proportional treaty (xol-)
premiutn secured to protect the business) sut"rmitted try the ACENT during
any calenclar year from January ['t as to rn4rich this Agreement is ef1bctive,
"which shall have been paicl prior to March I'i of the succeecling calendar year.

2) Uneamed prernium reserve as of December 3 i't r:f the year preceding the sairi
calendar year.

5) Loss reserve as of Decernber 3 I'1 of the year preceding the said calendar year
less facultative rei nsurance recoverabl e.

PUTGA
r) Cornmissions due under said Agreement on nct prcmiums written by thc
AGIINT during said calendar ycar.

2) Losses and loss expense paid during the said calendar year on account ofthe
business written by the AGENT less facultative reinsurance recovered.
 3) Loss reserve as established on December 3l*t of said calendar year less
facultative reinsurance recoverable.

4) Unearnecl premium reselve calculated at forty percent (40%) of the net

premium submitted by the AGENT during said calendar year.

5) Five percent (5%) of the prerniums received by the COMPANY for the total
expense of operating at the HOh,tE office for each calendar year-

6) All expenses, other ttran losses and loss expense, paid by the COMPANY
during any such calenclar year for or on behalf af the AGENCY or on account
oi business subraittod by the AGENT, including cxpensc ibr audits,
inspections, invcstigations, taxes. licenses. association f'ccs ,:r other chargcs.

V) Dcticit, if any, tiom prcvit-rus period.

The additional conrpensation allowed by the COIVfPANY in accordance with this

Agrccment will bc creditcd by the COMPANY to thc account ofl the ACENT on its
br:oks, and the AGEI{T rvill be duly adviseci by thc COMPANY of *,he amount o{'such
credit, paid by check, at the COMPANY'S option. I"'i<l charges ft-rr profit sharing.
oompeilsation chte or claimed shall be made in the AGflNT'S account without lr specific
authorization tiom the CONIPANY.

The t'irst accounting uncier this agreement shail be rendered hy the COMPANY
as of l)eccmber 31't ot- and shall cover transactions of the preceding months.
The arnount then due shall be filtoen perccnt (15%) of the protits to the COMPANY
calculated in accorclance with tiris Agreement" All subsequent accounts shall be rendered
annually on a like basis.

The cancellation or other termination of the Agerrcy Agreement shall

autornatically temrinate this Agreement, and fi"lll profit accoitnt shall ht: rcndered r.vithit
one year thereaiier, as of December 3l*t of the year in which such termination occurs.
The calculation of-the said final account shali be made in accordance with the provisions
o1'this Agreement, covering tht: business transacted during the tirli caiendat: year o1'sttch
tenninatiun (as weii as the detennining average results) and shail include all charges and
credits nrade in the regular course of business cluring the last calendar year of such
accounting"

The AGENT shali then be allowed a pro-rata share of the average profits (or
char:ged with apro-rata share of the average deficits) so calculated, in suchproportion as
the time lrom the beginning of the said last calendar year to date of termination bears 1o
the whole year, which shall then lully and finally discharged the COMPANY of all
liability hereunder-

Cornputalion of the profits conrmission shall be on a per Line Rasis and will apply
on the fcllowing lilrcs:
 FIRE (FiL oniy), MARINE CARCO, PERSONAL ACCTDENT AND MOTOR CAR
(Voiuntary only)"

Iror the l" yeAr, the commission shall be payable on the whole result, il'a prcl{it.
lror the siicond year the c<lrnmission shall be payable ont/z of, the total result, i{'prof.rt, of
that year and the preceding year combined, For the 3'd year, and each one of the
succeeding year, the commission shall be payable on li3 of the total result, if a profit of
( the curtenl irear and the tr,vo preceding years combined.

The interpretation of this AGREEMENT and the detennination of any question or

any application thcrcol'hy the Presidcnt or \'-ice Fresident {br l\,larketing orhis nomince
shall bc absolute and binding on both partics thcrcto.
{

WU-NiESS TFIE i-lriNDS AND SEAI.S OF T[jE PARTIES of this

AGREEMENT. rnade and signcd in duplicate at the place on the date shown Lrelow:

Date : VilL{ e5, Ja)

nt Makati City

CHARTER PING AN INSURANCE

COR.P"
By:

MAICA C. FRANCISCO of Distributor

Distributor Licensing Agent

STGNET] iN TFTE PRESENCE OF:

 SCITEDULE OF COMMISSION RATES FOR AXA PILOT AGENTS
As of September 2016

L,iNE RATE

Sire Residential
t-'lass A F/L i RSMD I
I3urgiary & Robbery 25.A$%
Class A Allied Penls 5.009',r
Class B F/[, / RSMD i
Burglary & Robtrery 25.0{}%,
Ciass Il F/l- Aliicd Perils 5.009t

Commerr:ial
Class A ir/L i RSh4D i
f3urgiai-y & Robi:ery 25.AA%
Cllass AAllied Ferils 5.0{)%
Class B F'/L i R.SMD I
Burglary & Robbcry 25.00%
Lllass tr3 Allied Perils 5"00%

War:ekousellnd ustrial
Class A FiL / RSMD /
Ilurglary & Robbery 25.A0%
Class A .Allicci Perils 5.t)07o
Class Il lrl1, / RSMD /
Burglary & It,-,hbely 25.009.c
Class B Allied Perils 5.00%

N{otor Car CITPL l0.fJ0*4

Own Damage and l-heft * 20.00%,
BIIPD (bodily injuryr'propcr'ry darnaged) * 20.00%
UPPA * 20.0t)%

liIR{iCIL\ & MOT"ORCYCLES undev LICENSED AGENTshall huve the rete oS ZA.f}il% iODiTheJr/YTPl.i{tPPAi

Marine Cargo 25.}A{th

PA Annr"ral 3250%
'I'ravei 20.00%
Group 32.50?i,

llnginecring ContractorsAllRisks 25.{}0%

Iirection nii Risks 2s.0a%
Machinery.Brcakdcrwn 25"AA%
lloilcr and Machinery 25.AQ%

Other Casualty 2s.009,'0

(except goll'ers)

Bomd 30.00%