COMPROMISE AGREEMENT

KNOW ALL MEN BYH THESE PRESENTS:

This COMPROMISE AGREEMENT is made and executed by and between:

_____________________________, of legal age, Filipino, married/single and a resident of

________________________________________, hereinafter referred to as the DEBTOR;

and

BACOLOD COLUMBIA MARKETING, INC. (BCMI for brevity), a domestic corporation duly registered and existing
under the laws of the Republic of the Philippines, with principal office address at 2525 Narra Extension, Hervias Subdivision,
Bacolod City, Negros Occidental, and represented by its ____________________, ___________________________
hereinafter referred to as the COMPANY,

Both the DEBTOR and COMPANY referred to as the PARTIES.

witnesseth that:

WHEREAS, the COMPANY is in the business of distribution and marketing of consumer goods to the public;

WHEREAS, the DEBTOR acknowledges that in connection to its purchase from the COMPANY, it still have an
outstanding balance amounting to __________________________________________________
(Php_______________________), based on the Invoices duly signed by the DEBTOR;

WHEREAS, the DEBTOR wishes to settle the above-stated amount in full or in partial and according to the terms
and conditions set forth in this Agreement;

NOW, THEREFORE, In consideration of the mutual covenants and promises made by the parties hereto, the
PARTIES covenant and agree as follows:

1. The DEBTOR agrees to pay the above-stated amount within a period of ___________ from the
execution of this Agreement. Failure on the part of the DEBTOR to pay his/her obligation will result
to an interest of TWELVE PERCENT (12%) per annum;

2. In case payment is made in installment basis, the DEBTOR agrees to pay a minimum amount of
___________________________________ every _______________________ until fully paid;

3. The COMPANY agrees to accept payment from the DEBTOR, subject to the terms and conditions
agreed by both PARTIES. If payment is in installment basis, payments shall be made according to
the schedule of payment agreed upon by the PARTIES;

4. The PARTIES agree and acknowledge that TIME IS OF THE ESSENCE with regard to the payment
schedule. The term “TIME IS OF THE ESSENCE” ensures that the deadlines will be viewed as an
essential element of this Agreement and missing such deadlines will be deemed a breach of this
Agreement;

5. Failure of the DEBTOR to pay his obligation set forth in this Agreement or on two (2) consecutive
payments, will automatically give the COMPANY the right to file a case against the DEBTOR before
the proper court; or to pull out the existing stocks in accordance to the rules and regulations of the
Republic of the Philippines;

6. After full payment of the above mentioned amount, both PARTIES waive any and all rights and claims
against each other arising from any and all causes of action;

7. In the event that any one or more of the provisions of this compromise agreement, be later on
declared invalid, illegal or unenforceable by the appropriate court, the validity, legality and
enforceability of the remaining provisions shall in no way be impaired or affected thereby;

8. The PARTIES hereby acknowledge that the stipulations contained in this Agreement have been
mutually agreed upon by the respective PARTIES, without any act of force, fraud or undue
 intimidation. The PARTIES also acknowledge that they understand the legal consequences of this
agreement. Accordingly, the PARTIES hereby agree to abide by the foregoing stipulations with the
force and effect of a lawful right and a demandable obligation.

7. This Agreement shall be governed by and construed in accordance with the laws of the Republic of
the Philippines and the PARTIES hereby consent that any legal action for breach or violation of any
provision of this AGREEMENT shall be filed exclusively before the proper courts of Bacolod City,
Negros Occidental;

8. Both PARTIES acknowledge and agree that they executed this Agreement according to their own
free will and volition and were not coerced to do so nor under duress at the time of executing this
Agreement.

9. The foregoing covenants are not contrary to law, morals, or public policy and the PARTIES bind
themselves to comply strictly with their undertakings.

IN WITNESS WHEREOF, we have hereunto affixed our signatures on ___________________at Bacolod City,
Philippines.

__________________________________ ______________________________________
DEBTOR REPRESENTATIVE OF THE COMPANY

SIGNED IN THE PRESENCE OF

___________________________ ___________________________

REPUBLIC OF THE PHILIPPINES)

City of Bacolod ) S.S.
x-----------------------------------------------x

ACNOWLEDGMENT

BEFORE ME, this __________________ at Bacolod City, Philippines, personally appeared the following persons
with their Competent Evidence of Identity:

NAME COMPETENT EVIDENCE OF IDENTITY

known to me to be the same persons who executed the foregoing instrument and acknowledged before me that the same is
their own voluntary acts and deeds;

This instrument consisting of two (2) pages including this page where the acknowledgment is written and signed
by the parties and their witnesses at the right margin of each page.

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

Doc. No. ______;

Page No. ______;
Book No. ______;
Series of 2019.