MEMORANDUM OF AGREEMENT
This Agreement is made and executed by and between:
JG MIGHTY-PH BUSINESS PROCESS, a sole proprietor duly organized and existing by virtue of
the laws of the Republic of the Philippines, with principal office address at 2-A-4 Angel Block 4
Farmvillage Nancamaliran East Urdaneta City Pangasinan and, represented in this act by its
Owner, JELZ GENOSAS, hereinafter referred to as the “EMPLOYER”;
-and –
RONDEL B LANDICHO of legal age, Filipino citizen, and with postal address at
PUROK 2, CALLE TRESE, BRGY. CALICANTO BATANGAS CITY BATANGAS, hereinafter referred to
as the “EMPLOYEE”;
WITNESSETH
THAT:
WHEREAS, the EMPLOYER is engaged in Business Process Outsourcing for Engineering Services;
WHEREAS, the EMPLOYER offered and the EMPLOYEE accepted the offer to subsidize Insurance
Benefits for the EMPLOYEE;
NOW THEREFORE, for and in consideration of the foregoing premises, the parties hereby agree on the
following terms and conditions:
A.
EMPLOYER will subsidize the EMPLOYEE’s Insurance Benefits with a 60% subsidy from the
monthly Insurance Premium.
B.
EMPLOYEE will shoulder the 40% of the monthly Insurance Premium to be deducted from his
salary.
C.
EMPLOYER shall fund the enrolled Auto Debit Bank Account one (1) day before the earliest due
date of the EMPLOYEE’s Insurance Policies.
D.
EMPLOYEE agrees that the Fund Value of his Policy is 100% owned and controlled by the
EMPLOYER.
E.
EMPLOYER has the right to withdraw anytime from the Fund Value of the EMPLOYEE’s
Insurance Policy.
F.
EMPLOYEE’s death benefit from his Insurance Policy will be directly given to his Beneficiaries.
G.
EMPLOYEE may continue to enjoy the Insurance Benefits such as Medical Benefit, growing Fund
Value and Death Benefit even after he left the EMPLOYER. On that scenario, EMPLOYEE will shoulder
100% of the monthly Insurance Premium and has the full control by then, including the Fund Value.
H.
Neither party shall disclose confidential information about each other and this agreement unless
otherwise necessary and agreed upon by them;
I.
This agreement may not be transferred of assigned to any other person or company without the
consent or approval of the parties;
J.
Parties shall settle any dispute related to this agreement amicably or in the courts which has
proper jurisdiction.
IN WITNESS WHEREOF, the parties hereunto signed this documents this _______day of ________________ in
_________________________, Philippines.
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JG MIGHTY-PH BUSINESS PROCESS
EMPLOYER
Represented by:
JELZ GENOSAS
Owner
RONDEL B LANDICHO
EMPLOYEE
SIGNED IN THE PRESENCE OF:
___________________________
_____________________________
ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES )
________________________
)S
BEFORE ME, this __________ day of ______________, personally appeared:
NAME
JELZ GENOSAS
RONDEL B LANDICHO
IDENTIFICATION
PHILHEALTH 070509375745
DRIVER’S LICENSE D0122001670
ISSUED ON/AT
PHILHEALTH
LTO
All known to me and to me known to be the same persons who executed this foregoing instrument and
hereby acknowledged to me that the same is their free and voluntary act and deed. This instrument
consisting of 2 pages, including this page on which this acknowledgment is written refers to a
Memorandum of Agreement and has been signed by the parties and their witnesses and sealed with my
notarial seal.
IN WITNESS WHEREOF, I have hereunto set my hand on the date and place first above written.
NOTARY PUBLIC
DOC. NO._________;
PAGE NO._________;
BOOK NO.________;
SERIES OF _______.
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