MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Memorandum of Agreement is made and entered by and between:

College of Business Administration, Bulacan State University (BulSU) with principal address at the Provincial Compound , City of Malolos, Bulacan represented by Dean GUALBERTO A. MAGDARAOG, JR. hereinafter referred to as the FIRST PARTY and

Tollways Management Corporation with office Address at KM12 Balintawak Toll Plaza, North Luzon Expressway Caloocan City, Metro Manila; herein represented by Ms. Fritzie Jaye A. Sicat, hereinafter referred to as the SECOND PARTY (as Cooperating Company)

WITNESSETH:

WHEREAS, there is mutual recognition to make academic programs relevant and responsive to the needs of society.

WHEREAS, the First Party is requiring Internship to graduating BS Accountancy students who should undergo relevant training and exposure institution where accounting is being applied and being practice prior to graduation for them to further develop their competencies.

WHEREAS, the Second Party agrees to accept qualified student from BULSU as trainees in support of its Internship Program.

WHEREAS, both PARTIES believe that aside from the usual theories the students may have learned in school, it has to be combined with linkage in the actual field where the theories have to be applied.

NOW THEREFORE, with the foregoing premises considered, the PARTIES agree to the following.

1. The FIRST Party shall: (BULSU)

1. Recommend qualified students who will undergo the internship program for 250 hours and an additional 8 hours as part of their extension service taking into consideration the requirement of SECOND PARTY in terms of qualification and number of students to be accommodated as trainees.

2. Designate a FACULTY INTERNSHIP COORDINATOR who will be assigned with the following duties and responsibilities:

1. Monitor attendance, activities and performance of students during internship

2. Visit the institution and monitor the progress of student at least once or twice within the duration of the Internship program.

3. Coordinate the Internship program with the representative of the SECOND PARTY

3. Submit to the Institution the documents required for the Internship program.

2. The Second Party (COOPERATING COMPANY) shall:

1. Assign designated representative who will coordinate with the BULSU’s Faculty Internship Coordinator in orienting, monitoring, evaluating the student interns, especially those which pertain to safety and security precautions;

2. Provide the student interns with the relevant training and exposure/involve students in accomplishing relevant task that will further develop student competencies related to Accountancy.

3. Enforce rules that will govern the conduct of internship program in the premises of the company (e.g. execute confidentiality/non disclosure agreement for any record which they may have access). Said rules shall be known to the University and the student interns before the start of the internship program.

4. Accomplish necessary forms required by the University in connection with the internship requirements of the students; and

5. Issue Certificates of Completion to the student interns upon accomplishment of all internship requirements.

This Memorandum of Agreement shall take effect immediately after signing hereof and shall continue thereafter, provided that any provision of this agreement may be amended by written consent of both parties herein provided, further the cooperating Institution and the University (BULSU) reserves the right to withdraw its participation in agreement upon written notice.

IN WITNESS WHEREOF, the parties thereto, affix their signatures this ____ day of ______________

At _____________________ .

GUALBERTO A. MAGDARAOG, JR. FRITZIE JAYE A. SICAT Dean Tollways Management Corporation

Signed in the presence of:

ALLAN D. LALIC Ma. BELLA S. FAJARDO
Internship Coordinator, CBA Extension Coordinator, CBA