DEED OF CANCELLATION

(OF DEED OF ASSIGNMENT)

Know All Men By These Presents:

This Deed of Cancellation (“Deed”) is executed by and between:

_________________________________, Filipino, of legal age,

single/married and with residence and postal address at
______________________________________________,
hereinafter referred to as “FIRST PARTY"

- and -

_________________________________, Filipino, of legal age,

single/married and with residence and postal address at
______________________________________________,
hereinafter referred to as “SECOND PARTY”

WITNESSETH:

WHEREAS, FIRST PARTY and SECOND PARTY (herein after

collectively referred to as “Parties”) entered into a a Deed of Assignment of
Shares of Stock (“Deed”) for the transfer of _______________ (________) fully
paid common shares, with par value of Php _________________ per share, from
FIRST PARTY to SECOND PARTY which appears in the Notarial Register of
Atty. _________________ as document # ___ on page ___ of Book ___ series
of 20__;

WHEREAS, the Parties have mutually decided to voluntarily terminate,

rescind, and cancel the said Deed with the end result that as if no such contract
was ever entered into at all;

NOW THEREFORE, by virtue of these presents, the parties hereto, on

their own accord, agree as follows:

1. The parties mutually agree to TERMINATE, RESCIND AND CANCEL the

above-described Deed.

2. The Parties agree that whatever damages or expenses which they have
respectively incurred due to or as a result of the Deed shall be for their
respective account.

3. The Parties hereby declare and affirm that this agreement is made by both
of them freely and voluntarily, with full knowledge of their respective rights
and remedies under law and equity.

IN WITNESS WHEREOF, the parties hereto have hereunto set their

hands this ___________________, in ____________________.

1
 _______________________ ___________________________
TIN _________________ TIN _____________
First Party Second Party

Signed in the presence of:

_______________________ _______________________

ACKNOWLEDGEMENT

Before me, a Notary Public, personally appeared the above-named

persons presenting integrally complete instrument or document entitled DEED
OF CANCELLATION consisting of one (1) page, including this page, and is
attested to be personally known to me or identified by me through competent
evidence of identity as defined by the Rules on Notarial Practice of 2004, and
they represent to me that the signatures on the instrument or document was
voluntarily affixed by them for the purposes stated in the instrument or document
as their free and voluntary act and deed, and, if they act in a particular
representative capacity, that they have the authority to sign in that capacity.

Witness my hand and seal this ____ day of ________________, ______.

Doc. No. _______;

Page No. _______;
Book No. _______;
Series of _______.