COMPROMISE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Compromise Agreement is made and executed by and between

the following parties:

XXX, a corporation duly organized and existing under the

laws of the Philippines with principal office at <address>,
Metro Manila, represented in this act by its President, YY;

-and-

ZZZ, a corporation duly organized and existing under the

laws of the Philippines with office address at <address>
Metro Manila, represented in this act by its President, QQ.

WITNESSETH:

WHEREAS, XXX and ZZZ are the parties to the case entitled “XXX.
versus ZZZ.” docketed as CIAC Case No. 01234 before the Construction
Industry Arbitration Commission (CIAC).

WHEREAS XXX and ZZZ have agreed to completely settle their

differences and the controversies between them, to buy the peace and
put the abovementioned case to rest and help decongest the docket of
the Construction Industry Arbitration Commission (CIAC).

NOW THEREFORE, for and in consideration of the foregoing

premises, the parties have agreed as follows:

1. ZZZ shall pay XXX the amount of ONE MILLION TWO

HUNDRED SIXTY TWO THOUSAND FIVE HUNDRED PESOS
(PHP1,262,500.00), Philippine currency, to completely settle its
obligation and or the said case before the Construction Industry
Arbitration Commission (CIAC), the said amount to be paid in four (4)
equal installments in the amount of THREE HUNDRED FIFTEEN
THOUSAND SIX HUNDRED TWENTY FIVE PESOS (PHP315,625.00) per
installment. The first installment in the amount of THREE HUNDRED
FIFTEEN THOUSAND SIX HUNDRED TWENTY FIVE PESOS
(PHP315,625.00) shall be paid by ZZZ to XXX upon execution and signing
of this Compromise Agreement; and the remaining three (3) installments
of THREE HUNDRED FIFTEEN THOUSAND SIX HUNDRED TWENTY FIVE
PESOS (PHP315,625.00) per installment to be paid by ZZZ to XXX by
way of postdated checks, to be delivered upon execution and signing of
this Compromise Agreement, as follows:

Date of Check Amount of check

November 9, 2018 PHP315,625.00
December 9, 2018 PHP315,625.00
January 9, 2019 PHP315,625.00

XXX shall issue the corresponding Official Receipt to ZZZ for each
check payment of PHP315,625.00 once the check has been honored.

2. XXX, its successors, assigns, directors, officers and

stockholders do hereby RENOUNCE, WAIVE, and FOREVER DISCHARGE
any and all claims, demands and causes of action whatsoever that it may
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have under existing laws against ZZZ, its officers, directors, stockholders
and agents, arising from, connected with and/or related to the said case
before the Construction Industry Arbitration Commission (CIAC).

3. Likewise, ZZZ, its successors, assigns, directors, officers and

stockholders do hereby RENOUNCE, WAIVE, and FOREVER DISCHARGE
any and all claims, demands and causes of action whatsoever that it may
have under existing laws against XXX, its officers, directors, stockholders
and agents, arising from, connected with and/or related to the said case
before the Construction Industry Arbitration Commission (CIAC).

4. The authorized representative of XXX namely, MR. YY,

hereby warrants and represents that he is duly appointed and authorized
to act for and in behalf of XXX and to enter into an amicable settlement
with ZZZ; that pursuant to such authority he is authorized to receive for
and in behalf of XXX the abovementioned settlement amount from ZZZ;
that he is authorized and empowered to execute and sign this
Compromise Agreement for and in behalf of XXX; and that this
Compromise Agreement shall be binding upon XXX.

5. The authorized representative of ZZZ namely, MR. QQ,

hereby warrants and represents that he is duly appointed and authorized
to act for and in behalf of ZZZ and to enter into an amicable settlement
with XXX; that pursuant to such authority he is authorized to pay for and
in behalf of ZZZ the abovementioned settlement amount to XXX; that he
is authorized and empowered to execute and sign this Compromise
Agreement for and in behalf of ZZZ; and that this Compromise Agreement
shall be binding upon ZZZ.

6. Upon execution and signing of this Compromise Agreement,

the parties shall move for the withdrawal of the complaint of XXX against
ZZZ; and the counterclaim of ZZZ against XXX in CIAC Case No. 25-2018
as the parties have agreed to settle the said case and controversies
between them in its entirety.

IN WITNESS WHEREOF, the parties through their respective

representatives, have hereunto signed this Compromise Agreement on
this day of _________________ in _______________, Philippines.

XXX ZZZ

By: By:

MR. YY QQ
President President
Signed in the presence of:

______________________ ______________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES )

) S.S.

BEFORE ME, a Notary Public for and in ____________________

this day of __________________ personally appeared the following
persons, namely:
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Name Competent Evidence of Place Issued/Date

Identity
QQ
YY

known to me to be the same persons who executed the foregoing

Compromise Agreement and who acknowledged to me that the same are
their free and voluntary act and deed and the free and voluntary act and
deed of the corporations which they respectively represent.

This instrument consists of four (4) pages including this page on

which this acknowledgment is written and signed by the parties and their
instrumental witnesses on each and every page thereof.

WITNESS MY HAND SEAL on the date and place above-written.

Doc. No. ______;

Page No. ______;
Book No. ______;
Series of 2018.