SUBLEASE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This SUBLEASE AGREEMENT was entered into by and between:

_________., a domestic corporation duly organized and existing in

accordance with Philippine laws with offices at Berthaphil Compound, Jose Abad
Santos Avenue, Clark Special Economic Zone, Clark Field, Pampanga,
represented in this act by its President and General Manager
_____________, hereinafter referred to as the SUBLESSOR;

- and -

___________________________________________., a corporation duly

organized and existing under the laws of the Republic of the Philippines with
principal office address at the _______________________________, represented
in this act by its ___________________________________________, hereinafter
referred to as the SUBLESSEE;

W I T N E S S E T H: That

WHEREAS, the SUBLESSOR is the LESSEE of a certain property being managed and
administered by Clark Development Corporation (CDC) consisting of a parcel of land with an
area of 5.2 hectares, more or less.

WHEREAS, the SUBLESSEE is interested to lease a certain portion of the above

mentioned leased property.

NOW, THEREFORE, for and in consideration of the foregoing, the SUBLESSOR hereby
sublets and subleases unto the SUBLESSEE the portions of the subleased property described
below and the SUBLESSEE hereby accepts the sublease, subject to the following terms and
conditions, to with:

1. SUBLEASED PROPERTY. The SUBLESSOR hereby transfer and conveys by way

of sublease in favor of the SUBLESSEE the certain portion of the formers subleased property,
specifically Bldg. _____ with an area of _________________ ( ___ ) SQUARE METERS with
a parking area of _________________________ SQUARE METERS, located at Berthaphil
Compound, Jose Abad Santos Avenue, CSEZ. The map showing the location of the said
subleased property is herein attached as ANNEX “A”.

2. TERM. The term of this sublease shall be for a period of _______ (__) YEARS
commencing from______________________ or up to ________________. It may be renewed
thereafter by mutual agreement of the parties but subject to such new terms and conditions as
may then be mutually agreed upon and subject to the prior written approval and consent of the
original lessor CDC. It is a condition precedent however of this SUBLEASE that this Sublease
Agreement is subject to the terms of SUBLESSOR’s original lease with CDC.

3. RENTALS:

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 3.1. SUBLESSEE shall pay rentals at the rate of ________ U.S.
DOLLARS (US$____) per square meter per month based on the floor area
subleased or a total of ______________________U.S. DOLLARS (US$______)
per month.

3.2. The monthly rentals shall be increased by _______(__%) percent

every year compounded annually.

3.3. The rents shall be paid monthly in advance at the SUBLESSOR's

office within the first five (5) days of every month without need of demand.

3.4. In case of delay in the payment of monthly rentals, a surcharge of

three (3%) percent per month or fraction thereof computed from the sixth (6 th) day
of the current month of delay shall be added and paid by the SUBLESSEE
without prejudice to the other penalties and rights of the SUBLESSOR as
provided for herein.

3.5. The SUBLESSEE shall be allowed to take immediate possession of

the subleased premises effective______________________ for purposes of
construction or renovation and without payment of any rent but up to a maximum
period of _____ months or up to _______________________. Rents shall
commence to be paid automatically upon expiration of the latter date or
completion of the constructions or renovations whichever comes first.

3.6 The Sublessee shall pay parking fee at the rate of TEN (P10.00)
PESOS per square meter per month based on the parking area or a total of
___________________________________ (P_________) PESOS per month.

4. DEPOSITS. The SUBLESSOR confirms receipt of the payment of by the

SUBLESSEE of the following deposits:

4.1. SECURITY DEPOSIT. The sum of

________________________________________U.S. DOLLARS (US$_____)
as non-interest bearing security deposit to answer for any unpaid utility bills such
as water, telephone and electricity, as well as for damages that may be caused on
the leased premises by the SUBLESSEE. The said deposit or any excess after
deducting any such unpaid utility bills shall be refunded by the SUBLESSOR to
the SUBLESSEE upon expiration, termination, or cancellation of the Sublease
Agreement as provided for herein, unless there are any unpaid rents, interests, or
penalties, in which case SUBLESSOR shall have the right to offset this deposit or
any excess thereof against such unpaid obligations. SUBLESSEE, however, has
no right to off-set this deposit against any unpaid rentals.

4.2. RENTAL DEPOSIT. The sum of ___________________ U.S.

DOLLARS (US$______) as non-interest bearing rental deposit to be applied
against the last three (3) month's rent or whatever is proportionately applicable.

5. USE OF THE SUBLEASED PROPERTY. The SUBLESSEE expressly agrees and

warrants that the subleased premises shall be used by it exclusively for____________________
________________________________ purpose only. The SUBLESSEE is strictly prohibited
from using said premises for any other purpose without the prior written consent of the
SUBLESSOR and CDC. The SUBLESSEE shall have no right to change the form of its
business organization as stated herein or bring in any new partners, investors, or joint venture
partners without the prior written consent of the SUBLESSOR, and LESSOR, if required by the
latter.

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 6. IMPROVEMENTS, INSTALLATION AND FACILITIES. The SUBLESSEE
may construct or introduce any improvements, renovations structures or additional facilities
suitable for its authorized purposes provided that the prior written consent of the SUBLESSOR
and CDC is first secured. Any permanent improvements shall, upon termination of this sublease
or cancellation thereof as provided for herein, form integral parts of the subleased premises and
shall not be removed but shall belong to and become the exclusive property of the SUBLESSOR
without any right on the part of the SUBLESSEE to demand reimbursement for the cost or value
thereof.

7. PROHIBITION ON ASSIGNMENT and ENCUMBRANCE. The SUBLESSEE

shall not and cannot directly or indirectly further sublease, assign, sell, transfer, convey mortgage
or in any way encumber its rights under this contract of any portion of the subleased premises
under any circumstances whatsoever.

8. TENANTABLE CONDITION, REPAIRS and IMPROVEMENTS. The

SUBLESSEE hereby expressly acknowledges receipt of the subleased premises in good and
tenantable condition and agrees to keep the same in such condition at its own expense, ordinary
wear and tear excepted. Any provision of the law, present or future, or any stipulation in this
agreement to the contrary notwithstanding, the SUBLESSEE hereby agrees and binds itself to
undertake and do all the repairs, major and minor, which may due on the premises.

9. WATER, ELECTRICITY, LIGHT AND OTHER UTILITY SERVICES. The

SUBLESSEE shall pay for and defray at is exclusive expenses the cost of water consumption,
electric, telephone, or other utility services on the subleased premises.

10. GOVERNMENT RULES AND REGULATIONS. The SUBLESSEE shall

comply with any and all laws, ordinances, regulations or orders of the National or Local
Government Authorities and/or CDC arising from their use and occupancy of the leased
premises. All taxes, assessments, fees, and/or costs or requirements in mandated laws,
ordinances, regulations or orders pertaining to or arising as a result of the use or occupancy of
the subleased premises shall be at the risk and expense and shall be the sole responsibility of the
SUBLESSEE.

11. LESSOR/SUBLESSOR RULES AND REGULATIONS. The SUBLESSEE

expressly agrees to strictly abide by all the rules and regulation which may be given from time to
time by the SUBLESSOR or the original LESSOR pertaining to the use of the subleased
premises to include, among others, the following:

11.1. For aesthetic value, all office signs must be of uniform size with
those prescribed by the SUBLESSOR and/or CDC.

11.2. SUBLESSOR is hereby authorized to engage the services of any

security agency to provide security services on the entire compound including the
subleased portions and for janitorial services for the vacant lands surrounding the
building. SUBLESSEE shall share in the cost of such security or janitorial
services proportionate to the area subject of the lease. Any additional security or
janitorial services procured by the SUBLESSEE shall be at the latter’s expense.

For this purpose, the SUBLESSEE shall pay the SUBLESSOR, in

addition to the amounts provided for in paragraphs 3.1 and 3.6 hereof, the amount

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 of THREE THOUSAND (P3,000.00) PESOS per month as its share in the cost
of the janitorial services ("PARK MAINTENANCE FEE").

11.3. Considering the nature of the SUBLESSOR’s prime business as

well as that of the other tenants in the compound where an innocuously thrown
cigarette may cause conflagration , smoking, whether of cigars, cigarettes or
pipes, is absolutely and totally banned within the premises whether inside or
outside of all the offices, warehouses or buildings.

12. INSPECTION OF PREMISES. The SUBLESSOR or its duly authorized

representative shall have the right to inspect the subleased premises during business hours upon
giving prior notice to the SUBLESSEE.

13. OBNOXIOUS SUBSTANCES. The SUBLESSEE shall not introduce, keep,

deposits or store in the subleased premises any obnoxious substance or inflammable materials or
substances that might constitute a fire hazard, without the prior written consent of the
SUBLESSOR which shall not be unreasonably withheld when needed by SUBLESSEE for the
authorized business activities.

14. PENALTY CLAUSE:

14.1. In case either party violates any of the terms and conditions of this
contract and fails to remedy the breach within thirty (30) days from receipt of
written notice, the innocent or aggrieved party shall have the right to cancel this
contract extra-judicially and without need of any court order or proceedings
except the service of a written notice thereof to the other party.

14.2. The guilty party shall be liable for any and all damages resulting
from the breach including but not limited to what is provided for in this contract.

14.3. In case it is the SUBLESSEE who violates any of the terms and
conditions hereof and the SUBLESSOR exercises its right to cancel the contract,
or upon expiration of the term agreed upon, the SUBLESSEE agrees to peacefully
and voluntarily vacate the premises and turn-over the same to the SUBLESSOR
or latter’s authorized representative upon written demand as provided for herein. .

14.4. If the SUBLESSEE refuses or fails to surrender possession when

required as stated in par. 14.3 above, SUBLESSEE shall be obliged to pay
SUBLESSOR as monthly rent and liquidated damages an amount equivalent to
four (4) times the prevailing monthly rental at the time SUBLESSEE’s possession
became unlawful computed from date required in the written demand up to the
date the SUBLESSOR is actually restored to the possession of the premises in
addition to the other penalties or damages which SUBLESSEE may be held liable
under this contract or under the law.

14.5. In case SUBLESSEE abandons the subleased premises which

includes padlocking the building and/or failure to conduct business
operations/authorized purposes for a period of al least thirty (30) days without
paying the monthly rents, the SUBLESSEE hereby authorizes the SUBLESSOR
to obtain possession of the subleased premises with right to break-open any
locked doors or windows to gain entry without need of any court order of
proceedings with this documents serving as authority therefore. For this purpose,
SUBLESSEE hereby waives any action for trespass, coercion, or any other
similar suits. Thereafter, SUBLESSOR shall be free to use the premises for its
own purposes or to sublease the same to any third party as may be authorized by

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 CDC by virtue of its original lease agreement. If there are any goods,
merchandise or other movable properties belonging to the SUBLESSEE and left
on the subleased premise, SUBLESSOR is hereby authorized to remove the same
to be stored in any public or private warehouse at SUBLESSEE’s expense.
SUBLESSEE furthermore authorizes the SUBLESSOR to pay for the costs of the
storage and/or for any unpaid rents or damage caused on the subleased premises
by selling the said goods at the public auction under the supervision of the
Sheriffs of the Court of Angeles City. The expenses of such auction sales shall
likewise be taken from the proceeds thereof and/or shouldered by the
SUBLESSEE. Any excess proceeds will be applied against unpaid rents, interests
and penalties, if any, the balance to be refunded to SUBLESSEE.

14.6. If the SUBLESSEE vacates the premises or withdraws from or

cancels or causes the cancellation of the contract at any time after signing but
before the expiration of the term or period agreed upon SUBLESSEE shall be
liable for all the rents due on the unexpired thereof the lease or the forfeiture of
the security and rental deposit, whichever is higher, without prejudice to any other
penalties which may have been incurred as provided for in this contract.

14.7. Should either party be forced to litigate and/or to engage the services
of a lawyer to enforce its rights under this contract, the guilty party or party
committing the breach shall likewise be liable for attorney’s fees amounting to
25% of the amount involved but in no case less than P50,000.00, plus all other
litigation expenses incurred.

14.8. Any notice or demand intended for the SUBLESSEE shall be

sufficient if served or sent on the subleased premises by personal delivery on
whomsoever is found thereat or even if the subleased premises were abandon or
sent registered mail at the sublease’s last known address indicated in this contract.

15. VENUE. In case of court suit, the parties expressly submit themselves to the
jurisdiction of the court of Angeles City.

16. LESSOR’S APPROVAL. This agreement is subject to final approval of Clark

Development Corporation and according to the terms of such approval.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures

this_______day of _____________________2000 at Clark Field, Pampanga.

________________________ _________________________________
Sublessor Sublessee

By: By:

_________________________________ _____________________
President & General Manager

SIGNED IN THE PRESENCE OF:

1. _____________________________ 2. ___________________________

REPUBLIC OF THE PHILIPPINES)

CITY OF ANGELES ) S.S.

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 ACKNOWLEDGMENT

BEFORE ME, a Notary Public, personally appeared:

CTC/Passport No. Date & Place Issued

______________________ _______________ ________________________

known to me to be the same persons who executed the foregoing instrument and acknowledged
to me that the same is their free and voluntary act and deed and those of the entities, which they
represent.

This instrument relates to a Sublease Agreement, which consists of six (6) pages
including this page where the acknowledgment is written and duly signed by the parties herein
and their instrumental witnesses on each and every page hereof.

WITNESS MY HAND AND OFFICIAL SEAL on the date and place above-
mentioned.

Notary Public
Until December 31, 2001
PTR No.
IBP Life Member

Doc. No.
Page No.
Book No.
Series of 2001