SUBSCRIPTION AGREEMENT

KNOW ALL MEN BY THESE PRESENTS: That -

The undersigned, ______________________________, Filipino, and with address at ________________________ (the “SUBSCRIBER”) hereby subscribes to __________________ (_________________) shares of the common capital stock of _________________________, a (the “CORPORATION”), a corporation duly organized and existing under the laws of the Philippines, and with address at ______________________________, at a subscription price of ______________ Pesos (P_________) per share, or a total subscription price of ____________________ Pesos (P____________), payable as follows:

P__________________ upon execution of this Agreement;

P __________________ on _______________________;

P___________________ on _______________________.

Except as otherwise indicated above, subscriptions shall be payable at any time upon call by the Board of Directors of the CORPORATION. Subscriptions not paid on due date shall be subject to interest at ______% per annum from due date until fully paid, without prejudice to the right of the CORPORATION to declare the same delinquent in accordance with the Corporation Code of the Philippines and to all other rights available to the CORPORATION under the law.

IN WITNESS WHEREOF, the parties have caused these presents to be signed on the date and place first above written.

SIGNED IN THE PRESENCE OF:

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

_________________________

)S.S.

BEFORE ME, this _____ day of _____________, personally appeared:

known to me and to known to be the same persons who executed the foregoing instrument and acknowledged to me that the same is their free and voluntary act and deed.

WITNESS MY HAND AND NOTARIAL SEAL on this ___th day of _______, at __

Doc. No. __________

Page No. __________

Book No. __________

Series of 20____