INDEMNITY AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Agreement is made and executed this ____ day of ______________________, 2018,
by and between the following parties:

____________________________, a corporation duly organized and existing under

and by virtue of the laws of the Republic of the Philippines, with principal office
address at _______________________, herein represented by
_______________________, hereinafter referred to as the “FIRST PARTY”;

-and-

___________________________, Filipino, of legal age, and with residence address

at ______________________________________________________, hereinafter
referred to as the “SECOND PARTY”.

Both parties shall be hereinafter collectively known as the “Parties”.

WITNESSETH ~ THAT:

WHEREAS, the SECOND PARTY is a co-signatory to a Contract with the FIRST

PARTY whereby the SECOND PARTY agrees to be jointly and severally liable, together with the
FIRST PARTY, in the event that the performance/surety bond posted by the Parties has been
called.

WHEREAS, the FIRST PARTY deemed it best in the interest of the SECOND PARTY
to limit the existing and/or future liability of the SECOND PARTY in the event that the
performance/surety bond has been called.

NOW, THEREFORE, for and in consideration of the foregoing premises and the
mutual covenants hereinafter set forth, the parties agree as follows:

1. In the event that the performance/surety bond posted by the Parties has been called,
the total liability of the SECOND PARTY in respect of a claim arising from the Contract executed
by the Parties will be limited to an amount not more than the total fees or funds that the SECOND
PARTY has contributed to the funds of the FIRST PARTY or a specified amount to be agreed
upon by the Parties at a later date.

2. In no event shall the SECOND PARTY be liable to the FIRST PARTY or to any
other person or entity for any other loss, damage, or loss of profits other than the amount agreed
upon or specified under Paragraph 1 of this Agreement.
 3. The FIRST PARTY shall hold harmless the SECOND PARTY for any amount or
liability other than the liability of the SECOND PARTY as stipulated in Paragraph 1 of this
Agreement.
4. The Parties expressly agree that if any limitation or provision contained or
expressly referred to in this Agreement is held to be invalid under any applicable statute or rule of
law, such limitation or provision shall be deemed omitted but shall not affect the efficacy of the
other terms and conditions provided under this Agreement.

IN WITNESS WHEREOF, the Parties hereto affixed their signatures this 20th day of May
at Manila, Philippines.

__________________________________

FIRST PARTY

__________________________________
SECOND PARTY

SIGNED IN THE PRESENCE OF:

____________________________ ________________________

ACKNOWLEDGMENT

Republic of the Philippines )

Makati City ) S.S.

BEFORE ME, a Notary Public, for and in the City of ________, this ___ day of
___________, personally appeared:

NAME I.D. ISSUED ON/AT

FIRST PARTY

SECOND PARTY

known to me to be the same persons who executed the foregoing Agreement who acknowledged
to me that the same is their free and voluntary act and deed and that of the corporation they
represent.
 WITNESS MY HAND AND SEAL on the date and place above written.

Doc. No. _____

Page No._____
Book No._____
Series of _____.