Life Membership

GENERAL PRINCIPLES:

1. Proprietary Members in good standing are entitled to use and enjoy all facilities of the Club,
   subject to the Articles of Incorporation, By-Laws, and these rules and regulations, which the
   Board of Directors may amend or supplement from time to time.

2. A Proprietary Member in good standing shall be qualify to be a Life Member, upon
   recommendation of the Membership Committee, with the approval of the Club Board
   of Directors.

3. As with any member of the Club, Life Members shall be subject to suspension, expulsion,
   or other forms of discipline by the Club Board of Directors and Management.

LIFE MEMBER:

1. Policy and Eligibility — The Life Membership Program is a privilege extended by the Club
   in recognition for Proprietary Members who have been Club members, in good standing,
   for at least twenty (20) continuous years.

   1.1 A Life membership will be effective upon the activation of the membership of
   the transferee under paragraph 2(b) and 2(c) below;.

   1.2. A Life member will be entitled to uninterrupted membership privileges for a year,
   without the payment of membership dues;.

   1.3. After a year, the Life member shall have the option to continue his/her membership
   without minimum tenure, and is subject to the payment of membership dues of P2,000
   per month, without any consumables. The Board of Directors may increase these
   membership dues at its discretion. A written intention to continue the life membership
   must be submitted to the Membership Manager. Otherwise, the Life Member can deactivate
   the membership, in accordance with the procedure in paragraph 4 below-

   1.4.The Life member’s legal spouse and children below twenty-one (21) shall remain as
   the Life Member’s dependents and shall enjoy the privileges thereof.

2. Options of Eligible Proprietary — When a Proprietary member of the Club has
   remained in good standing, in the sole opinion of the Board of Directors, for at least
   twenty (20) consecutive years, he or she shall, anytime thereafter, have the option:

   (a)  To remain as a proprietary member with the Club;

   (b) To transfer his or her proprietary membership certificate to a legitimate spouse subject to the requirements of article 1490 of the Civil Code and Article 87 of
   the Family Code, or any of the children (“immediate family”); or

   (c) To sell his proprietary membership to a third party.

   2.1. As a matter of policy, the Club encourages eligible proprietary members to avail of
   Option (b), which is accorded the special incentive of entitlement to the 70% discounted
   transfer fee extended to children and grandchildren of members;

   2.2. When an eligible proprietary member takes either Option (b) or Option (c), he shall then remain with the Club as a life member.

3. Undertakings, Obligations, Privileges and Benefits. — A life member shall continue to be
   bound under the same undertakings and obligations as a member, and shall enjoy the same
   privileges and benefits, of proprietary members, including the right to attend all membership
   meetings, except the following:

   (a)  Although the Life member has the right to attend all membership meetings, and be
   furnished copies of the agenda and other communications in connection with such meeting,
   he or she has no voting right and is not entitled to vote in any meeting on any matter;

   (b) He or she is not entitled nor eligible to be voted upon to any elective position in the Club
   since he/she would no longer be a holder of record of a proprietary membership certificate;

   (c) He or she has no right to the properties and assets of the Club on liquidation;

   (d)   He or she must continue to pay all club dues and assessments applicable to Life members,
   as provided in the Amended By-Laws, and as may be promulgated by the Board of
   Directors; and

   (e)   He or she shall continue to be bound by the terms of the Articles of Incorporation,
   Amended By-Laws and Club Rules and Regulations as any other member of the Club.

4. Deactivation — After a year of free membership, a life member may deactivate his or her
   membership by presenting his or her resignation in writing to the Membership Manager but the
   resignation shall not be effective until after payment in full of any back dues and assessments
   that may be delinquent or in arrears.

   4.1. The life member has the option to reactivate his/her membership at any time thereafter by submitting a written request to the Membership Manager.

   4.2. A life member may be suspended, expelled or otherwise disciplined by the Board of Directors in accordance with Club Rules and Regulations.

   4.3. The Life membership is non-transferable and will automatically be extinguished upon death of the life member. The surviving spouse and other qualified
   dependents’ membership will automatically be terminated as well.