Employee benefit handbook

Alpha-Synergy
Maritime Inc.

CORPORATE PROFILE

Located in Manila South Harbor, Alpha-Synergy Maritime Inc. (ASMI) was
incorporated with the Security and Exchange Commission (SEC) in 1980 as a stock
corporation and is a duly registered manning agency under the Philippine Overseas
Employment Agency (POEA).

Due to the emergence of accelerated advance technology and globalization in
the improvement of industrial productivity, ASMI has aimed itself to provide premium
quality and value to our clients and stakeholders in a safe, proficient and efficient way.

In the strive to be the first world-class manning and ship management company,
ASMI offers the following value-innovated services:

1. Crewing

Being one of the major cost factors of operating ships, Crewing was
chosen to be the principal activity of ASMI. To meet the operational requirements
of the said activity, ASMI has developed new strategies and reorganized itself to
be able to address particularly the shore personnel’s competence. Another area
that was recently upgraded is the crewing department which has efficiently

Alpha-Synergy Maritime Inc.

adopted the new systems in identifying training needs of its workers as well as
competence assessment procedure prior to boarding.

2. Ship Agency Functions and Chandling

Alpha-Synergy Maritime Inc. has enough technical support to perform
even up to providing superintendence during dry docking and ship repairs in
Philippine waters. Furthermore, ASMI has the ability to supply vessels with any of
its stores, fuel and lubrication requirements at the most reasonable price.

Alpha-Synergy Maritime Inc.’s strategic services at all major ports in the
Philippines and other inland container depots has made us the trusted partner to some
leading lines in the internationalized containerized trade and

Pier 01, Manila South Harbor, Metro Manila, Philippines
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MISSION STATEMENT

VISION We strive to be the benchmark for manning and ship
management services providing premium quality assurance to
our clients.

MISSION Alpha-Synergy Maritime Inc. aim is to provide exceptional service
with passion and commitment by serving clients as our number
one priority, taking care of our employees and establishing
mutually beneficial partnerships with our people.

CORE VALUES To conduct business honestly and with integrity.
Treat everyone with respect and dignity.
Build trust necessary to have open and honest communication.
Operate efficiently and control costs without compromising safety
and security.
Understand, respect and bridge cultural differences.
Encourage innovative thinking.
Exercise discipline in every decision making.
Be pro-active in the community and in protecting the
environment.
To continuously enhance our operating practices as we learn
from our experiences.
To effectively and efficiently heed and respond to our
stakeholders.
To take pride in our professionalism.

COMMITMENT Alpha-Synergy Maritime Inc. is committed to ensure safe and
efficient ship operations. We achieve this through passion and
expertise.

We obtain PASSION from our dedicated and highly competent
crew members and administrative employees.

EXPERTISE is acquired through years of solid experience and
industrial specialization.

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GENERAL INFORMATION

A. Introduction from the Human Resource Department

Welcome to Alpha-Synergy Maritime Inc.! This Handbook is designed to aid the
employees in knowing and understanding the benefits that they will be gaining from
joining the company. This handbook is a guide and supplementary to the original
documents on policies, rules, regulations and procedures with the benefits provided by
Alpha-Synergy Inc.

Alpha-Synergy Maritime Inc. reserves the right, at its own discretion and as it
deems necessary or appropriate, at any time to change, revise, modify or delete all or
part any policy contained in this handbook except those required by law. Such
amendments shall be effective immediately upon the approval of the Alpha-Synergy
Maritime Inc.’s Management and employees shall be notified of these changes
accordingly.

Please familiarize yourself with the contents of this Handbook. Shall there be
items which are unclear, do not hesitate to contact the Human Resource Office for
clarifications.

B. Employee Benefits

Alpha-Synergy Maritime Inc. complies with all mandatory provisions of Philippine
labor standard laws. In addition, Alpha-Synergy Maritime Inc. implements benefit
programs intended to continually aid in the improvement of the welfare of all personnel,
to motivate them to work efficiently and boost their morale. Personnel benefits may
either be government-mandated benefits or company initiated benefits.

C. Definition of Terms

ASMI Alpha-Synergy Maritime Inc.

Employer Alpha-Synergy Maritime Inc.

Employee or Officer Any person receiving salary or compensation while in the
service with Alpha-Synergy Maritime Inc
.

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Probationary Employee All new hires start on a probationary status for an initial
period of six (6) months, extendable up to twelve (12)
months, wherein their performance and attitude will be
observed and evaluated by their immediate supervisor or unit
manager and the Human Resource Department will
determine if the employee meets the standards required by
the job

Regular Employee A regular employee is one who has satisfactorily undergone
the probationary period of employment and has passed
ASMI’s full requirements and standards made known to
him/her at the time of his probationary engagement. Regular
employees shall be issued corresponding contracts of
employment confirming the regular nature of their
employment as defined by the Philippine Labor Laws.

Cadet A cadet are probationary employees who are under training
for the service of crewing for an initial period of two (2)
months, extendable up to three (3) months, wherein their
performance and attitude will be observed and evaluated by
their trainer and the Human Resource Department will
determine if the employee meets the standards required by
the job.

Salary The basic compensation received by an employee or officer,
pursuant to his tenure in the service of ASMI. Per diems,
bonuses, overtime pay, honoraria, allowances and other
emoluments which are not integrated into the basic pay shall
not be considered as salary for the purposes of this
Handbook.

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SECTION I

LEAVES

Leaves are paid or unpaid permitted absence from work for family emergency,
sickness, personal time or other reasons as outlined by ASMI’s company policy.

A. Vacation Leave

All regular employees are eligible for vacation days with pay. Qualified
employees shall be subject to the following conditions:

1. New regular employees will receive a pro-rata number of vacation days
based on one day for each month worked in the hired calendar year, not to
exceed ten (10) days.

2. In the first full calendar year and through the calendar year in which the
employee’s three (3) year anniversary, employees shall receive ten (10)
vacation days each year.

3. In the calendar year of the employee’s fourth (4th) year anniversary of
employment, employees will receive fifteen (15) vacation days each year.

4. In the calendar year of the employee’s tenth (10th) year anniversary of
employment, employees shall receive twenty (20) vacation days each year.

5. Up to five (5) unused vacation days may be carried over into the next year.
All other unused vacation leaves will be paid out in the final paycheck for the
current year.

Employees applying for this leave should notify their immediate supervisor at
least one (1) month in advance of taking vacation time. All vacation requests are
subject to immediate supervisor’s approval. In addition, employees should directly
communicate vacation dates to co-workers to ensure that work deadlines are met.

B. Sick Leave

Sick days are provided for illness of the employee. All employees, regardless of
their employment status, should use their personal days or vacation day’s non-
illness related time off. All qualified employees will receive days according to the
following assumptions:

1. Employees will be eligible for paid sick days after six (6) months of
employment. After six (6) months of employment, employees will be eligible
for one sick day for every two (2) months worked from the date of hire, with a
maximum of five (5) days in their first year of employment.

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2. Every succeeding calendar year after the first year of employment, all
employees will be eligible for five (5) sick days.

3. Sick days may be accumulated or carried over from year to year with a
maximum of ten (10) days. All other unused sick days by the end of the year
will be forfeited.

C. Personal/Emergency Leave

All regular employees shall be granted seven (7) days of personal/emergency
leave days with pay within one year. Personal/emergency leaves shall be non-
cumulative and non-commutative and shall need a valid justification or explanation
to be approved and sufficient notice thereof shall be given by the employee to
his/her immediate supervisor and to the Human Resource Department.

In no case should prior notification exceed twenty-four (24) hours from actual
leave date. Personal/emergency leave may be filed in hourly increments.

D. Bereavement/Compassionate Leave

When death occurs in their immediate family, all employees are granted fourteen
(14) bereavement/compassionate leave credits with no deduction in their respective
salary. The term “immediate family” shall refer to the employee’s legal spouse,
legitimate child, parents or parents-in-law and sibling. This benefit does not apply to
grandparents, aunts, uncles and other in-laws.

A death certificate of the deceased immediate family shall be submitted to the
Human Resource Department when applying for bereavement/compassionate leave.

E. Maternity Leave

All female employees, married or unmarried, shall be entitled to maternity leave
benefit with pay of sixty (60) days in case of normal delivery or miscarriage, or
seventy-eight (78) days in case of Caesarian section delivery.

To qualify for maternity leave, the female employee should be under the following
assumptions:

1. She should be an SSS member and employed with ASMI at the time of
delivery or miscarriage.

2. She must have given the required notification to the SSS through ASMI.

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3. ASMI should have paid at least three (3) monthly contributions to the SSS
within the twelve (12) month period immediately before the date of delivery or
miscarriage.

Maternity leaves shall only be paid for the first four (4) deliveries or miscarriage.
Applications for maternity leave should be submitted to the Human Resource
Department at least three (3) months prior to the expected delivery date, supported
by a medical certificate from the attending physician.

F. Paternity Leave

Paternity leave is granted to every married male employee of ASMI, regardless
of their employment status (regular, probationary, or contractual). The employee is
given seven (7) working days of leave after his legitimate wife’s childbirth, or any
miscarriage which allows them seven days of time-off with pay so they can attend to
their wife’s childbirth or miscarriage and help care for the newborn child while his
wife is still recuperating. When on paternity leave, male employees whose wife just
went through childbirth are allowed not to report to work for seven (7) days, but
would receive payment equivalent to such number of days of leave.

Paternity leave shall be paid in full, equivalent to seven days, up to the first four
deliveries only.

Every married male employee shall be entitled to a paternity leave as soon as
the legitimate spouse has given birth. However, unlike maternity leave benefits, only
those husbands who are living with their wives under the same roof maybe granted
this benefit. Those eligible to take advantage of this benefit should be able to notify
the company and the SSS about their spouse’s pregnancy and the expected date of
delivery.

In the event that the paternity leave benefit is not availed of, it shall not be
convertible to cash and shall not be cumulative.

G. Parental Leave

Parental Leave refers to leave benefits granted to a solo parent to enable him/her
to perform parental duties and responsibilities where his physical presence is
required, which shall be for seven (7) working days every year, with full pay,
consisting of basic salary and mandatory allowances.

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Any employee of ASMI who is a solo parent or individual shall be entitled to
parental leave under the following conditions:

1. He/she has rendered at least one (1) year of service, whether continuous or
broken.
2. He/she has a Solo Parent ID Card, which may be obtained from the
Department of Social and Welfare Development (DSWD) of the city where
he/she resides.

Any employee who wants to avail of Parental leave shall submit a duly
accomplished leave form and notify the Human Resource Department at least one
week before the date of leave.

In any event that parental leave is not availed of, it shall not be convertible to
cash.

H. Leave for Victims of Violence Against Women and Children

All female employees of ASMI, who are victims of physical, sexual, psychological
harm or suffering, economic abuse including threats such as battery, assault,
coercion, harassment or arbitrary deprivation of liberty, are entitled to a leave with
full pay up to ten (10) days. The said leave shall be extended when the need arises,
as specified in the protection order issued by the barangay or the court. The leave
benefit shall cover the days that the female employee has to attend to medical and
legal concerns.

In order to be entitled to the leave, the female employee has to present to ASMI
a certification from the barangay chairman or barangay councilor or prosecutor or
the Clerk of Court, as the case may be, that an action relative to the matter is
pending.

I. Magna Carta of Women Leave

The Magna Carta of Women grants female employees of ASMI a two (2)
month leave with full pay based on gross monthly compensation. This benefit is
granted to female employees who must undergo surgery caused by gynecological
disorders, provided that they have rendered continuous aggregate employment
service of at least six (6) months for the last twelve (12) months.

The usage of the leave shall be at the option of the woman employee. In the
event that the leave benefit is not availed of, it shall not be convertible into cash and
shall not be cumulative.

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SECTION II

HOLIDAY PAY, OVERTIME PAY, 13TH MONTH PAY

A. Holiday Pay

Regular holidays are paid days. This means that all regular employees of ASMI
are entitled to his/her regular daily wage on regular holidays even if unworked. This
is called holiday pay. It is intended to benefit daily-paid workers whose employment
and income are circumscribed on regular holidays through no fault on their part, by
the principle of “no work, no pay.”

A regular employee of ASMI is entitled to holiday pay of one hundred percent
(100%) of his daily wage on regular holidays provided he is present or is on leave of
absence with pay on the work day immediately preceeding the holiday. If the
employee shall work on the regular holiday, not exceeding eight hours, he would be
entitled to be paid two hundred percent (200%) of his regular daily wage. If the
holiday work falls on his scheduled rest day, he should be paid an additional
premium pay of at least thirty percent (30%) of his holiday pay of two hundred
percent (200%), in effect two hundred thirty (230%) of his regular daily wage rate.

For work performed in excess of eight hours on a regular holiday, a higher
overtime rate of thirty percent (30%) is added to his holiday pay. Another premium of
30% is computed on this overtime rate if the overtime work is done on a regular
holiday which also happens to be the employee’s rest day.

When two regular holidays fall on the same date –the employee is entitled to
“double holiday pay”, which is two hundred percent (200%) of his regular daily wage
even if he does not work. One who works on this day is entitled to the additional
200% on top of his regular daily wage. If it is also a employee’s scheduled rest day,
he is entitled to an additional thirty percent (30%) premium thereon.

B. Overtime Pay

All employees of ASMI are entitled to overtime pay if they have worked for more
than eight (8) hours a day.

The following shall be the rates followed for overtime pay:

1. For work in excess of eight (8) hours performed on ordinary working days:
plus 25% of the hourly rate (hourly rate=daily rate/8 hours).

2. For work in excess of eight (8) hours performed on a rest day, a special day
and a regular holiday: plus 30% of the hourly rate (hourly rate=daily rate/8
hours).

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C. 13th Month Pay

For an employee of ASMI to receive the whole one month salary equivalent,
he/she should have served the company for one year. If an employee has served for
less than one year, the benefit should be pro-rated to the number of months or days
in a year of service.

All employees receive this government-mandated benefit. It is given on the 15th of
December and is computed as follows:

Total Pay Earned from January 1-December 31 of the Current Calendar Year
12 months

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SECTION III

LOANS AND ADVANCES

Depending on the availability of funds, Alpha-Synergy Maritime Inc. shall grant
salary advances or loans to its employees.

A. Salary Advances

In case of emergency for personal or family needs, an employee may advance
his/her salary for the next payday. Salary advances may be availed for only six (6)
times per year and applications for the same shall be submitted starting at the 25th of
each month up to the end of the month.

B. Salary Loans

Employees with at least one (1) year of continuous service may avail of a one (1)
month salary loan based on the prevailing interest rate, payable within twenty-four
(24) semi-monthly installments. For contractual employees, the loan is payable from
the time the loan is availed up to the end of his/her contract period.

C. Emergency Loans

Employees with at least six (6) months of continuous service and are facing an
emergency case may avail of an interest free loan payable within six (6) months.

D. Cash Advances

An employee may avail of a cash advance of a minimal amount for every salary
period. This is payable in full outright deduction in the salary for the next period.

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SECTION IV

GOVERNMENT MANDATED BENEFITS

A. Social Security System (SSS)

All employees who pay their monthly SSS contribution (mandatory) are entitled of
this benefit. Included in the benefits are sickness, maternity, retirement, disability
and death. Computations are based on the provisions of the Social Security System.
Also, the employees can avail of financial assistance through the SSS Loan
Programs such as salary and calamity loan.

B. Philippine Health Insurance Corporation (PHILHEALTH)

This is a benefit given to an employee as an aid during his hospitalization. It is
also applicable to his qualified dependents. It is an outright deduction from the
hospital bill/expenses before discharge. If there was no deduction from the hospital
bills, it can still be claimed from the PHIC within 60 days after the patient has been
discharged from the hospital

C. PAG-IBIG Fund

Employees can avail of financial assistance given by HDMF such as Housing,
Multipurpose and Calamity Loan. Amounts are subject to the policies and guidelines
set by the agency. The monthly contribution of the employee serves as their savings
and can be withdrawn upon retirement.

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SECTION V

INSURANCE

Alpha-Synergy Maritime Inc. provides eligible employees and their families with
comprehensive insurance coverage for protection from loss of income and burdensome
expenses resulting from death, hospitalization and other causes.

The categories of coverage are:

1. Life Insurance

ASMI agrees to provide a Group Life Insurance Plan, inclusive therein of a
death benefit plan, subject to the conditions of the insurance policy and approved
by ASMI.

2. Medical Insurance
a. Out-Patient care
b. Basic Hospitalization
c. Major Medical Hospitalization
d. Maternity

Once the employee has served the company for one year, he/she is
entitled to enroll a maximum of three (3) dependents subject to HMO provider’s
conditions.

ANNUAL MAXIMUM
BENEFIT LIMIT (MBL)
Rank and File Employee P 75,000.00
Supervisory Employee 100,000.00
Each Dependent 50,000.00

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SECTION VI

RETIREMENT BENEFITS

A. Entitlement

An employee or officer who has rendered a minimum of two (2) years shall be
entitled to separation/retirement benefit upon resignation or separation from the
company.

B. Retirement Package

ASMI had come up with a retirement scheme that is fair to all employees and
officers who have rendered a minimum of two (2) years of service upon separation.
An employee or officer shall be paid his separation / retirement pay within fifteen
(15) days after filing of his claim.

The computation of the separation/retirement benefits are as follows:

Computation of Separation / Retirement Benefits
Years of service multiplied by the latest highest monthly
salary
1st 5 years x 0.50 monthly salary
6 to 10 years x 0.75 monthly salary
21 years and above x 2.0 months salary

Illustration 1:

If an employee or officer separates and rendered nine (9) years of service
with the company and enjoyed P85,000.00 as his latest monthly salary, the
computation would be:

5 years x .5 (P85,000.00) = 212,500.00
4 years x .75 (P85,000.00) = 255,000.00
Total 467,500.00

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Illustration 2:

If an employee or officer separates and rendered fifteen (15) years of
service with the company and enjoyed P95,000.00 as his latest monthly salary,
the computation would be:

5 years x .5 (P95,000.00) = 237,500.00
5 years x .75 (P95,000.00) = 356,250.00
5 years x 1.0 (P95,000.00) = 475,000.00
Total 1,068,750.00

Illustration 3:

If an employee or officer separates and rendered twenty five (25) years of
service with the company and enjoyed P145,000.00 as his latest monthly salary,
the computation would be:

5 years x .5 (P145,000.00) = 362,500.00
5 years x .75 (P145,000.00) = 543,750.00
5 years x 1.0 (P145,000.00) = 725,000.00
5 years x 1.5 (P145,000.00) = 1,087,500.00
5 years x 2.0 (P145,000.00) = 1,450,000.00
Total 4,168,750.00

C. ASMI Guarantee

The Alpha-Synergy Maritime Inc guarantees the fulfillment of the obligations of
the company to its employees and officers when they fall due.

D. Prescription

Claims for separation / retirement benefits under this Handbook shall prescribe
after one (1) year from the date of contingency.

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SECTION VII

OTHER BENEFITS

A. Loyalty Award

Alpha-Synergy Maritime Inc. honors and values the loyalty of the employees in
the company. An employee is given a loyalty award if he/she has served the
company for the following years of service:

YEARS OF SERVICE AWARDS TO BE GIVEN
5 years Plaque of Appreciation and P20,000 cash award.
20 years and above Plaque of Appreciation and P100,000 cash award.

B. Mid-year Bonus

All regular employees of ASMI will be entitled to a mid-year bonus which is
equivalent to one month salary and will be given not later than June 1 of each year
in preparation for the start of the school year.

C. Housing Assistance

The purpose of this benefit is to provide a start up money to assist employees in
acquiring permanent residential accommodations. It is a one-time, interest-free loan
per employee with the amount of Php 200,000.00 payable in sixty (60) months and
is deducted bimonthly from their salaries.

D. Annual Physical Exam

ASMI will select an approved medical institution where an annual basic medical
check-up may be availed of by each regular employee. ASMI will inform and update
the qualified employees of the medical facility to be used and its cost. ASMI will
reimburse the cost of the basic annual medical check-up upon presentation of the
Official Receipt up to the allowance granted by ASMI.

E. Professional Learning

All regular employees under the managerial position may request from ASMI
allowances or funding to participate in professional development courses that will not
only benefit them but also the company itself. All requests shall be submitted to and
approved by the Human Resource Department

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Shuttle Services

A company shuttle, strategically posted at some points of the city, will be
provided by ASMI to ensure the safety of its employees who are going to and are
leaving from work at the office.

F. Employee Dormitory

A staff house or employee dormitory shall be available to the following:

1. Probationary employees who are required to stay from the start of the training
period.

2. Probationary and regular employees who want to stay at the staff house on
their free will from the time of employment.

3. Cadets who are under training who are required to stay from the start of their
training period.

G. Rice Subsidy

This is a benefit given to every regular employee on a monthly basis. The
purpose of this benefit is to provide an allowance for food, aside from the regular
monthly salary the employee receives. This is given in the form of cash in the
amount of Php 1,000.00 at the end of every month.

H. Company Socials

At Alpha-Synergy Maritime Inc., we believe in the importance of socializing
outside the office. Put simply, we believe that it leads to greater company unity and
ease of communication between departments. Our company socials include
Christmas party, family picnic (beach), team building and anniversaries.

I. Meal Benefit

Every regular employee is entitled to a meal benefit, which is, a free meal served
by the company cafeteria. Every regular eight-hour work entitles an employee of a
free meal and an additional meal for a four-hour rendered overtime. It is also given
during holidays as long as an employee reports for work.

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PROOF OF ACKNOWLEDGEMENT

This is to acknowledge that I have read this Handbook, and agree to comply with
the policies and procedures contained within.

I understand that this Handbook do not constitute a contract between ASMI and
myself or any other people.

I also understand that this Handbook does not contain or constitute any
assurance or guarantee of employment or continued employment with ASMI or any
increase in salary or promotion.

Received by:

____________________________________
Employee’s Signature over Printed Name

____________________________________
Date

Noted by:

_____________________________________
Human Resource Representative

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