General Partnership Agreement

ARTICLES OF PARTNERSHIP Of FAITH GROCERY STORE KNOW ALL MEN BY THESE PRESENTS: That we, the undersigned, all of legal age and residents of the Republic of the Philippines have agreed to amend a limited partnership under the terms and conditions herein set forth and subject to the provisions of existing laws of the Republic of the Philippines. AND WE HEREBY CERTIFY: ARTICLE I. That the name of the partnership shall be FAITH Grocery Store. ARTICLE II. That the principal office of the Partnership shall be located at #143 Lacson Street, Bacolod City, Negros Occidental, Philippines. ARTICLE III. That the names, citizenship, residence and designation of the partners of said partnership are as follows: Name

Citizenship

Residence

Designation

Pia A. Villa

Filipino

BACOLOD CITY

General Partner

Kim T. Mendoza

Filipino

BACOLOD CITY

General Partner

Ann C. Sy

Filipino

BACOLOD CITY

General Partner

Ina R. Tan

Filipino

BACOLOD CITY

General Partner

ARTICLE IV. That the term for which said partnership is to exist is at will of the partners. ARTICLE V. That the purpose for which said partnership is formed is to trade grocery goods or items to the public and derive profit from it. ARTICLE VI. That the capital of the partnership shall be four hundred thousand, Philippine Currency contributed in cash by the partners as follows: Name Pia A. Villa Kim T. Mendoza Ann C. Sy Ina R. Tan

Amount Contributed P 150,000.00 P 100,000.00 P 90,000.00 P 60,000.00

That no transfer which will reduce the ownership of Filipino citizens to less than the required percentage of capital shall be recorded in the proper books of the partnership. ARTICLE VII. That the profits and losses shall be divided among the partners by the following: Name Pia A. Villa Kim T. Mendoza Ann C. Sy Ina R. Tan

Percentage 35% + salary of P 5,000.00 per month 30% 25% 10%

ARTICLE VIII. That the rights and duties of each partner are as follows: 1. To associate another person with him in his share. 2. To have an access to and inspect and copy the partnership books at reasonable hours. 3. A partner is co-owner with his partners. 4. To act with outmost good faith in his relations with his copartners. 5. To render true account and full information of all things affecting the partnership to any partner or his legal representatives. 6. To refrain from competing with the firm. Where a partner, without the consent of his co-partners, carries on competing business, he must account for and pay over to the firm all profit made by him in that business. 7. To account to the firm for any benefit derived by him without the consent of the partnership, or from any by him of the partnership property, name or business connections. ARTICLE IX. That the conditions under which the partners may withdraw money or other assets are as follows: 1. A partner or partners may withdraw a minimum of P2, 000.00 but not more than P10, 000.00. 2. A partner or partners can only withdraw once every quarter. 3. A partner or partners must not have an obligation within the partnership of more than P30, 000.00. ARTICLE X. That the books of the partnership are to be kept at its principal office at #143 Lacson Street, Bacolod City, Negros Occidental, Philippines ARTICLE XI. That the causes of dissolution of the partnership are as follows:

1. By the express will of all the partners who have not assigned their interest or suffered their to be charged for their separated debts either before or after the termination of any specified form or particular undertaking 2. By death of a partner 3. By the bankruptcy of any partner of the partnership 4. Prolonged illness or incapacitation of a partner 5. By any event which makes it unlawful for the business of the partnership to be carried on or for the members to carry it on in partnership. IN WITNESS WHEREOF, we have hereunto set our hands this 29th day of February, 2016 at Bacolod City, Philippines.

Pia A. Villa TIN:

Kim T. Mendoza TIN:

Ann C. Sy TIN:

Ina R. Tan TIN:

ACKNOWLEDGEMENT Republic of the Philippines City of Bacolod

} } S. S.

BEFORE ME, a Notary Public, for and in Bacolod City, Philippines, this 29th day of February 2016, personally came and personally appeared the following persons with their Community Tax Certificates as follows: Name

CTC #

Date / Place Issued

Pia A. Villa

12345678

01-01-2016 Bacolod City

Kim T. Mendoza

91011127

02-01-2016 Bacolod City

Ann C. Sy

98765432

03-01-2016 Bacolod City

Ina R. Tan

87263897

04-01-2016

Bacolod City

Known to me to be the same persons who executed the FOREGOING ARTICLES OF PARTNERSHIP, and they acknowledged to me that the same is their voluntary act and deed. WITNESS MY HAND AND SEAL on the date first above written.

Anna L. Ang Notary Public Valid Until December 31, 2016 PTR. No. 464545454 IBP No. 878787 Roll of Attorney No. 65656 TIN: 232-665-638-000 Bacolod City Doc. No.: Page No.: Book No.: Series of 2016