BENEFICIARY :

BENEFICIARY’ :
s ADDRESS

04 December 2018

CORPORATE GUARANTEE

GENTLEMEN:

We, _________________ (the “Guarantor”) with principal address at

______________________, refer to the Agreement ___________________ between you and B
CUT Inc. (the “OBLIGOR”) with office address at ____________________ concerning the
_______________________(the “Contract”)

We understand that you are requiring the OBLIGOR to provide a Corporate Guarantee in your
favor in the total amount of ______________________ (Php __________________) to secure
the faithful performance of the OBLIGOR’s pecuniary obligation as stipulated in the Contract

In consideration of the aforesaid, we hereby issue this Corporate Guarantee in your favor for
the account of the OBLIGOR in the total amount of ___________________ (Php
________________) to secure the pecuniary obligation of the OBLIGOR to you under the contract,
subject to the following terms and conditions:

DEMAND FOR PAYMENT

Funds under this Corporate Guarantee are available to BENEFICIARY against presentation of
Letter Requesting for Payment accompanied by the following documents:

1. Original copy of this Corporate Guarantee Letter and all amendments thereto;
2. Notarized Certification signed by the BENEFICIARY’s authorized representative as
evidenced by a Secretary's Certificate declaring that OBLIGOR to be in default or breach of
its material and pecuniary obligation/s under the contract and citing the specific default or
breach that occurred as specified in the contract with proof of receipt of a demand letter
requiring the OBLIGOR to perform its obligations and proof of prior exhaustion of the
property of the OBLIGOR.

If the Letter Requesting Payment under this Corporate Guarantee does not conform to the
terms and conditions hereof, we shall give notice within five (5) business days after receipt of such
request, to BENEFICIARY that the request for payment was not effected, stating the reasons
therefor. Upon being notified, the BENEFICIARY may attempt to correct any such non-conforming
request and re-submit such request in accordance with the terms and conditions hereof.

We hereby agree to honor each request notwithstanding any objection that the OBLIGOR
might raise against the BENEFICIARY's entitlement to payment, by transferring immediately
available funds to the BENEFICIARY’s designated bank account, the amount specified in the
request for payment within five (5) business days after the receipt of conforming request for
payment without prejudice to our rights as a Guarantor as defined by law.

EXPIRY

This Corporate Guarantee shall be operative and become valid on the date specified above and
shall expire at the end of business hours on the date of expiration of the
_____________________________ and/or its amendments or its early termination whichever is
earlier for presentation of Letter Requesting for Payment at our office located at
______________________________.

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 For avoidance of doubt, in the event that a request for payment has been made to the
GUARANTOR prior to the expiry date, GUARANTOR’s obligation to pay hereunder shall be deemed
accrued notwithstanding that the due date for payment may fall after the expiry date.

AMENDMENT

Any amendment or cancellation of this Corporate Guarantee shall be operative only with prior
written consent of all parties involved.

This Corporate Guarantee sets forth GUARANTOR’s undertaking and agreement with the
BENEFICIARY and such undertaking and agreement may not, in any way, be modified, amended,
amplified or limited by reference to any other document, instrument, or agreement referred to
herein or their amendments.

__________________
________________

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