1. ALICE KREEGER (The Instructing Party)
2. MR. JOSEPH ESTRADA (The Proxy Holder)
Hereby agree as follows:
Pursuant
to the Discretionary Assets Management Agreement entered into by the above Parties
on .... day of June 04, 2004.
The
Instructing Party opts for a PERSONAL
STRATEGY as specified by him in the following terms:
The
initial value of the Asset will be an $100,000,000.00 USD (One Hundred Million, U.S Dollar)
only. The Agreement and all information related to it shall be kept strictly
confidential
a) An investment base from the
instructing party to Proxy Holder is the confirmed amount stated above.
b) The investment amount by
Instructing Party is 75% of the
investment base.
c) The Proxy Holder shall have
25% of the value as (a) commission for consultation,
investment and management and for other
unforeseen miscellaneous expenses of any kind, and the same percentage of the
profit realized in the investment portfolio.
d) The Proxy Holder will keep
the assets under review, paying special attention to the political, social,
financial and economic situation prevailing in the countries selected and of
the specific request from the Instructing Party as to management of the Assets
specified in this agreement
e) The Proxy Holder shall
initiate and carry out any and all transaction, which he considers appropriate
according to his own professional judgment subject to confirmation by the
Instructing Party. Such transaction however,
shall be bordering on the purchase of either real estate and landed property,
manufacturing industries, shares, stocks, bonds, company franchises and in
other financial investment opportunities.
The power of the Proxy Holder is validly established by means of a Power
of Attorney, dated 04, June, 2004. issued by the Instructing Party in favour of
the Proxy Holder.
f) The Proxy Holder shall be
required to exercise due care and diligent in selecting investments
opportunities and to avoid capital loses to the assets, fluctuating returns and
negative consequences arising from the faulty or inordinate investments
assumptions. Provided the Proxy Holder
shall not be held responsible for any consequences out of force majeure namely,
Warfare, Riots, Measures adopted by authorities or changes in legislation in
host countries or abroad..
h) The present agreement is
entered into for an indefinite period and its govern by international law. Nevertheless either party may at any time
decide to terminate it. Any such
decision must be communicated to the other Party by means of facsimile and
Email and will become effective three months after the dispatch of the letter
provided that all outstanding can be wind up within that period.
By
virtue of the Discretionary Power of Attorney granted by the Instructing Party,
The Proxy Holder shall exercise unfettered discretion as to the nature and
value of every transaction and as to the terms and conditions of same, provided
such discretionary power judicious and to the interest of the Assets.
The
currency of reference for the asset under management is in the United State
Dollars
Executed
in duplicate IN PHILIPPINES/UNITED
KINGDOM on ……. day of …………, 2004.
INSTRUCTING
PARTY PROXY HOLDER
MR. JOSEPH ESTRADA ALICE KREEGER