PLEDGE

This AGREEMENT, made and entered into this 15th day of January, 2020 by
and between Paolo Pacquiao of age, single, and residing at Country Homes, Davao,
Philippines, now and hereinafter called the Pledgor, and Jules Vosotros likewise of
age, single, and residing at Matina, Davao, Philippines, now and hereinafter called
the Pledgee.

Witnesseth:

That WHEREAS, the Pledgor has executed a promissory note dated January
15, 2020, in favor of the Pledgee and made payable within FIFTEEN (15) days after
date at Davao, Philippines, for amount of TEN THOUSAND PESOS (P10,000) Pesos,
Philippine Currency;

WHEREAS, the Pledgor has agreed with the Pledgee to secure the payment
of the said note;

NOW THEREFORE, in consideration of the premises and mutual covenants

herein contained, the Pledgor has, as a collateral security for the payment of the
aforementioned note and by way of pledge, deposited with the said Pledgee the
following personal property of his own exclusive ownership, and of which he has
the free disposal, to wit:

Apple iPhone XR 64GB

And the said parties to this instrument agree that the Pledgee who
acknowledges receipt of the aforementioned personal property of the Pledgor shall
take good care of the said property until redeemed by the said Pledgor;

That should the said note or any part thereof, or interest to grow thereon,
remain due and unpaid, after the said note shall have been due, according to the
terms thereof, the said Pledgor, irrevocably empowers and authorizes the said
Pledgee, his heirs, executors, administrators and assigns, to sell or dispose of the
abovementioned property or any part thereof at public auction as provided for in
Article 2112, of the Civil Code, from the proceeds of such sale to pay the principal
and interest of the said note, and all such costs as may be incurred by virtue of such
sale; and

That in case of deterioration or fall in the price or market value of the

personal property herein pledged, the Pledgor hereby agrees to put up additional
security in proportion to the deterioration or fall in market value of the same, and
in default of which, the said note shall be considered due and payable under the
above stipulation; but in the event of payment of said note and interests due
therefrom, this agreement is to be void, and the above-named securities are to be
returned to the Pledgor.

IN WITNESS WHEREOF, we have set our hands this 15th day of January, 2020
at Davao, Philippines.

Paolo Pacquiao
Pledgor

Jules Vosotros
Pledgee

In the presence of:

Dave Macatol

Ellan Tingson

ACKNOWLEDGEMENT

Republic of the Philippines )

Davao City ) S.S.

BEFORE ME, a Notary Public for and in Davao City, this January 15, 2020, personally
appeared:

Paolo Pacquiao TIN: 666-985-777

Jules Vosotros TIN: 111-778-333

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.
This instrument consisting of THREE (3) pages, including the page on which this
acknowledgement is written, has been signed on each and every page thereof by
the concerned parties and their witnesses, and sealed with my notarial seal.

WITNESS MY HAND AND SEAL, on the date and place first above written.

Doc. No. _____; EMILIO O. SORIANO

Page No. _____; NOTARY PUBLIC
Book No. _____; Until Dec. 31, 2022
Series of 2019. Serial No. 2021-999-9999
PTR. No. 99999/01-08-21
Roll of Atty.’s No. 99999
IBP. Lifetime Roll No. 99999