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EMPLOYMENT CONTRACT BETWEEN MERCHANT AND BOOKKEEPER

KNOW ALL MEN BY THESE PRESENTS:

That this agreement made this ____th day of_________________, 20____,between ________________________________, of legal age, single (or, married to________________________), and a resident of ________________________________, hereinafter called the MERCHANT, and________________________________ of legal age, single (or, married to________________________________), and a resident of ________________________________, hereinafter called BOOKKEEPER.

WITNESSETH:

That the MERCHANT shall employ the BOOKKEEPER and said BOOKKEEPER

shall serve theMERCHANT

in his business of________________________________carried on by him at ________________________________, for a term of__________years from the __________ day of________________________________, 20___ solong as the MERCHANT carries on said business, subject to the following stipulation andconditions, to wit:

1. Office hours shall be from 8:00 a.m. to 12:00 noon and from 2:00 p.m. to 5:00p.m. on week days, and from 8:00 a.m. to 1:00 p.m. on Saturdays, exclusive of Sundaysand Legal Holidays.

2. The MERCHANT shall pay the BOOKKEEPER a salary at the rate of

________________________Pesos (Php______) per month payable on or before the___15th and 30th __day of the month.

3. The BOOKKEEPER shall devote the whole of his time and attending duringbusiness hours to the business of the MERCHANT, and shall not be employed orengaged in any other capacity or undertaking, and shall not be interested or concerneddirectly or indirectly in any business firm or corporation undertaking or carrying on anybusiness of a similar nature to, or which may compete with that of the MERCHANT.

4. The BOOKKEEPER shall carefully, accurately and punctually keep such booksof accounts, prepare such balance sheets and financial statements, and shall performother duties of a similar nature as the MERCHANT may direct from time to time.

5. The BOOKKEEPER shall obey and comply with all lawful directions by and onthe part of the MERCHANT and shall promote the interests of the MERCHANT to the bestof his ability, and shall not do anything which may cause or tend to cause any loss ordamage to the MERCHANT in business reputation, or otherwise.

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6.The BOOKKEEPER shall not, either during the term of his employment or at anytime thereafter, use or disclose to any person, firm or corporation any informationconcerning the business or affairs of the MERCHANT which he may have acquired byreason of his employment, for his own benefit or to the detriment of the MERCHANT.

7. The employment of theBOOKKEEPER

hereunder may be terminated withoutcause by either party by giving to the other one month's notice in writing: Provided, That ifthe BOOKKEEPER shall in any respect fail to observe or comply with the conditions andstipulations imposed upon him by this contract, the MERCHANT may without noticeforthwith terminate the employment of the BOOKKEEPER hereunder.

IN WITNESS WHEREOF, the parties hereto have set their hands this_____day of___________________, 20____in________________________________, Philippines.

________________________________ ________________________________MERCHANT BOOKKEEPER

SIGNED IN THE PRESENCE OF:

________________________________

________________________________