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CEAP Retirement Form No.

19

INDEMNITY AGREEMENT

KNOW TO ALL MEN BY THESE PRESENTS:

This Undertaking Agreement made and executed this __th day of _____, 20__ by and between:

____________________________________ (School/Institution), a non-stock, non-profit


organization duly organized and existing under and by virtue of the laws of the Republic of the
Philippines with principal office address ________________________________________,
represented herein by its Directress/Principal, ________________________________ and its
Treasurer, __________________ ___________________, herein referred to as the
“School/Institution”;

-and-

CATHOLIC EDUCATIONAL ASSOCIATION OF THE PHILIPPINES, a non-stock, non-profit


organization duly organized and existing under and by virtue of the laws of the Republic of the
Philippines with principal office address at #7 Road 16, Bagong Pag-Asa, 1105 Quezon City,
Metro Manila, represented herein by RONALDO D. ICO, Director, CEAP Retirement Plan Office
and herein referred to as the “TRUSTOR”;

WITNESSETH:

WHEREAS, the (SCHOOL/INSTITUTION) is a contributing member of the Catholic


Educational Association of the Philippines (CEAP) Retirement Fund for the separation benefits of
its employees;

WHEREAS, the “School/Institution” has requested METROPOLITAN BANK AND TRUST


COMPANY-TRUST BANKING GROUP, the TRUSTEE of the Fund, through the TRUSTOR, to credit
the separation benefit of your employee(s), _______________________________, in the
amount of Pesos: ______________________________________________________
(Php____________), determined and computed by the designated actuary of the Fund;

WHEREAS, the SCHOOL/INSTITUTION will disburse the credited benefit to its separated
EMPLOYEE;

WHEREAS, the TRUSTEE “METROPOLITAN BANK AND TRUST COMPANY-TRUST BANKING


GROUP) has agreed to credit the BENEFIT to the SCHOOL/INSTITUTION, provided that the
TRUSTEE “METROPOLITAN BANK AND TRUST COMPANY-TRUST BANKING GROUP) and the
TRUSTOR as herein stated, are freed from any all claims and liabilities to any third parties,
arising out of or as consequence of the TRUSTEE’s crediting of the benefit to the
(SCHOOL/INSTITUTION)’s account;

NOW, THEREFORE, for and in consideration of the foregoing premises, the


SCHOOL/INSTITUTION hereby represents and binds itself to assume fund responsibility for and
indemnify, compensate and hold the TRUSTEE “METROPOLITAN BANK AND TRUST COMPANY-
TRUST BANKING GROUP” and the TRUSTOR herein stated entirely free and harmless against any
claims, charges, expenses, liabilities or judgment that may be rendered against the TRUSTEE
“METROPOLITAN BANK AND TRUST COMPANY-TRUST BANKING GROUP” and the TRUSTOR,
including any claims coming from the employee by the reason of its crediting of the BENEFIT
due the EMPLOYEE on the basis of the authority given by the school to the TRUSTEE
“METROPOLITAN BANK AND TRUST COMPANY-TRUST BANKING GROUP”, through the TRUSTOR,
by virtue hereof.
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IN WITNESS WHEREOF, the SHOOL/INSTITUTION and the TRUSTOR, represented by its


respective officers hereby affix their signatures hereunder.

___________________________________ (School/Institution)
By:

__________________________________ __________________________________
Directress/Principal Treasurer

CATHOLIC EDUCATIONAL ASSOCIATION OF THE PHILIPPINES (CEAP)


RETIREMENT PLAN OFFICE
By:

RONALDO D. ICO
Director

SIGNED IN THE PRESENCE OF:

__________________________________ _______________________________________

ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPNES)
MAKATI CITY ) S.S.

BEFORE ME, a Notary Public, in and for ___________________________on this ____day


_________ 20___, personally appeared:

Name Government Issued IDs Date/Place of Issue

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

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal at
___________________, Metro Manila, Philippines on the day and year of the first above
written.

NOTARY PUBLIC

Doc. No. __________


Page No. __________
Book No. __________
Series of 20______