ADMINISTRATIVE SERVICE AGREEMENT

This Agreement for Administrative Services (Agreement) is made effective as of _______ by and
between:

HANJIN HEAVY INDUSTRIES & CONSTRUCTION CO., LTD., a corporation duly organized and existing
under the laws of Republic of Korea, licensed to do business in the Philippines, with branch office
address at HHIC Building, 1128 University Parkway, North Bonifacio Global City, Taguig City,
represented by its Regional Managing Director and General Manager, PYUNG JONG YU, hereinafter
referred to as PRINCIPAL

and

MHEDY F. PILAPIL, of legal age, married, Filipino, and a resident of Purok 3 Bilayong, Sta. Cruz,
Tagoloan, Misamis Oriental hereinafter referred to as CONTRACTOR

In consideration of the mutual promises set forth below, the parties agrees as follows:

DESCRIPTION OF SERVICES. Beginning on 02 July 2015, the Contractor will provide administrative
support as described here which includes but not limited to clerical, secretarial and any other
administrative services reasonable requested by the PRINCIPAL for purposes of dissolving the
PRINCIPAL's subsidiary Corporation, HHIC-Mindanao, Inc. The Contractor is obliged to make daily
reports as to the status of the dissolution with SEC and other government agencies to the PRINCIPAL
thru electronic mail at HCA2100190@hanjinsc.com and marxdechavez@gmail.com.

CONTRACTOR'S FEE. In consideration of the services to be performed by the Contractor, the

PRINCIPAL agrees to compensate the CONTRACTOR for the services in the amount of Php 11,000.00
which shall be paid every 10th day of every month

TERMINATION. This Agreement shall terminate upon complete filing of documents required for the
dissolution to SEC.

RELATIONSHIP OF PARTIES. It is understood by the parties that the Contractor is an independent

contractor with respect to the Principal and not an employee of the Principal.

CONFIDENTIALITY. Both parties shall treat all information confidentially in relation to this
Agreement during the terms of this Agreement and shall not disclose to 3rd parties any confidential
information without prior permission of the other party. Each party shall not use confidential
information except for the purpose of this Agreement.

ENTIRE AGREEEMENT. This Agreement contains the entire agreement of the parties, and there are
no other promises or conditions in any other agreement whether oral or written

SEVERABILITY. If any provision of this Agreement shall be held to be invalid or unenforceable for any
person, the remaining provisions shall continue to be valid and enforceable.
IN WITNESS WHEREOF, the parties hereto have signed this Administrative Service Agreement on
__________________,

HANJIN HEAVY INDUSTRIES

& CONSTRUCTION CO., LTD.
By:

PYUNG JONG YU MHEDY F. PILAPIL

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES

_______________________________) s.s

BEFORE ME, a notary public for and in ____________________________, on this _____ day
of _____ 2015:

NAME CTC/PASSPORT NO. DATE/PLACE ISSUED

PYUNG JONG YU ___________________ ____________________

MHEDY F. PILAPIL ___________________ ____________________

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

This instrument refers to Administrative Service Agreement which consist of two (2) pages,
including this page whereon acknowledgement is written and signed by the Parties and their
instrumental witnesses on each page thereof.

WITNESS MY HAND AND SEAL

Doc. No. ______;

Page No. ______;
Book No. ______;
Series of 2015.