MEMORANDUM OF AGREEMENT ON WORK IMMERSION INTERNSHIP

This Memorandum of Agreement is executed by and between ATENEO DE NAGA UNIVERSITY with
business address at Ateneo Avenue, Bagumbayan Sur, Naga City, duly represented by its President,
FR. ROBERTO EXEQUIEL N. RIVERA, S.J., hereinafter known and referred to as ADNU and
LANDBANK OF THE PHILIPPINES, duly represented by Ms. Maribuel Buela, hereinafter known and
referred to as the COMPANY/INSTITUTION.

WITNESSETH

WHEREAS ADNU instituted an internship program as part of the curriculum for the degree of
BACHELOR OF SCIENCE IN ACCOUNTANCY , BSBA major in ACCOUNTING INFORMATION
MANAGEMENT, FINANCIAL MANAGEMENT AND ACCOUNTING, MANAGEMENT,
BUSINESS MANAGEMENT HONORS PROGRAM, MARKETING MANAGEMENT, BANKING
AND FINANCE, BUSINESS ECONOMICS, TOURISM MANAGEMENT, HOSPITAL AND HEALTH
CARE MANAGEMENT, ENTREPRENEURSHIP, LEGAL MANAGEMENT, BUSINESS
ENGINEERING students in order to provide them with adequate experience in actual industry work
operations and augment their formal education.

WHEREAS the COMPANY/INSTITUTION, in its desire to enhance the training and development of
more professionals has agreed to provide support to the students of ADNU in the form of training on the
operations and the latest developments in its industry and,

WHEREAS in order to set the parameters as well as the rights and obligations of the parties herein,
ADNU and the COMPANY/INSTITUTION hereby execute a Memorandum of Agreement that covers
the internship program’s objectives and the principles pursuant to their established Internship Plan for the
students.

WHEREAS, the STUDENTS had been made aware of and accepted this agreement and the respective
Internship Plan with all its terms and conditions as contained herein.

NOW, THEREFORE, for and in consideration of the foregoing premises, the Parties hereby agree as
follows:

1. The duration of the program shall be equivalent to a specific number of working hours,
depending on the Course/Degree of the student-intern as agreed upon by ADNU and the
COMPANY/INSTITUTION. (specify the Course/Degree and the Number of Hours
Required) However, in case the student-intern will not be able to complete the required
number of hours within the specified term, either semester or intercession period, the student
shall not be allowed to extend a face to face internship with the HTE. The student-intern shall
be required to accomplish a School Initiated Activity to complete the internship program.
Only those HTEs who have a system in place for online work from home arrangement may
be allowed to extend beyond the term, either semester or intercession, but not beyond the
University Policy on grade completion.

2. ADNU shall identify and indicate the specialization(s) that will be the subject of the
partnership.

3. ADNU shall designate a work immersion coordinator and work immersion adviser who are
the authorized person to assist the students during the pre-deployment, deployment and post
deployment processes and activities for the whole duration of the Work Immersion Program.

4. ADNU shall monitor the student’s progress through the duration of the entire Work
Immersion Program so as to make sure that the tasks assigned to each student are meaningful,
challenging, and applicable to his/her particular program and are able to maximize the quality
of learning experiences.

5. ADNU shall provide the COMPANY/INSTITUTION evaluation tools for students’

immersion performance.

6. ADNU shall issue final grades to the students upon completion of the requirements within a
prescribed period.
7. ADNU shall ensure that the students will adhere to non-disclosure policies of the
COMPANY/INSTITUTION as agreed.

8. The COMPANY/INSTITUTION shall design and implement the internship plan in

partnership with ADNU.

9. The COMPANY/INSTITUTION shall orient the student intern on standard rules and
regulations of their establishment, relevant instructions, consistent with the company’s
policies.

10. The COMPANY/INSTITUTION shall provide practical training or work experiences in

accordance with the agreed internship plan and activities. It shall treat the student interns in a
professional manner, and shall not ask them to do menial jobs or jobs that are risky,
dangerous or not stated in the purpose of this agreement.

11. The COMPANY/INSTITUTION shall ensure that the students do not perform tasks and
duties of the regular position in the company. There is no employee / employer relationship.
As a student intern, they are not allowed to receive compensation/allowances. However, if the
COMPANY/INSTITUTION will provide necessary incentive to the student intern such as
travel allowance and uniform as contained in the MOA, if applicable.

12. The COMPANY/INSTITUTION shall notify and provide at least 30 working days written
notice to ADNU of a student’s breach of contract or misconduct in the internship premises to
suspend or terminate the contract

13. The COMPANY/INSTITUTION shall issue a certificate of completion for the student
intern not later than two weeks after the completion of the internship program.

14. Both parties shall have the right to terminate the on-the-job training if:

a. the COMPANY/INSTITUTION did not abide with the kind of responsible training as
agreed upon;

b. the STUDENT INTERN violates the rules and regulations of

the LANDBANK OF THE PHILIPPINES, or if there is a serious misconduct.

c. there is any violation of the foregoing covenant that will warrant the cancellation of
this agreement.

Provided, that the terminating party shall formally inform the Work Immersion
Coordinator AND Work Immersion Adviser of the violation before any decision to
terminate is made finalized. The Work Immersion Coordinator and the Work Immersion
Adviser shall intervene in order to rectify the situation for the best interest of all the
parties concerned.

15. This Memorandum of Agreement shall hold for Two (2) Academic School Years
from____to_____. Renewable after Two years. The COMPANY/INSTITUTION and
ADNU shall submit their intention for renewal for this agreement through formal notice thirty
days (30) before its expiration.
IN WITNESS WHEREOF, the parties have signed this memorandum of Agreement on this _____day of
_____ 20__, at Naga City, Philippines.

HOST TRAINING ESTABLISHMENT ATENEO DE NAGA UNIVERSITY

MICHAEL KENNETH OBRERO____ FR. ROBERTO EXEQUIEL N. RIVERA, SJ

HTE Representative University President

WITNESSES

__ MICHAEL KENNETH OBRERO____ ________________________________

Signature over printed name of Signature over printed name of
Company witness University Witness

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

NAGA CITY ) S.S.

BEFORE ME, a Notary Public for and in the City of Naga, this _____day of ____________________
20__, personally appeared the following:

NAMES PROOF OF IDENTITY ISSUED AT/VALID UNTIL

______________________ ______________________ ________________________

______________________ ______________________ ________________________

Known to me to be the same persons who executed the foregoing agreement and acknowledged to me that
the same is their free act and voluntary deed and that of the institutions they respectively represent.

This instrument refers to a Memorandum of Agreement consisting of three (3) pages including this page
whereon this Acknowledgement is written and signed by the parties and their instrumental witnesses.

WITNESS MY HAND AND NOTARIAL SEAL, at this date and place first mentioned.

Doc No.________;
Page No._______;
Book No._______;
Series of _______.