COMPROMISE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Compromise Agreement made and entered into this _____ day of June, 2012, in
the City of Manila, Philippines, by and between:

MEYER’S FOODS AND SERVICES, INCORPORATED, a corporation duly

organized and existing under and by virtue of the laws of the Philippines,
with principal business address at 1030 Belen Street, Paco, Manila, herein
represented by its authorized representative , MS. ELEANOR V. RETA,
and hereinafter referred to as the “FIRST PARTY”,

-and-

MR. ANTONIO C. ESTEBAN I , Filipino, of legal age, doing business under

the name and style of CLEAR MARITIME TRAINING CENTER with
principal business address at No. 2F LE Building 3, Vergara Street,
Batangas City and hereinafter referred to as the “SECOND PARTY”.

WITNESSETH:

WHEREAS, the FIRST PARTY the private complainant in Criminal Case No. 467544-46-
CR entitled “People of the Philippines versus Antonio Esteban ” for Violation of Batas
Pambansa Bilang 22, pending before the Metropolitan Trial Court, City of Manila, Branch 27.

WHEREAS, the SECOND PARTY is the Accused in the afore-mentioned criminal case.

WHEREAS, it is for the mutual interest and benefit of the parties that the civil aspect of
the afore-mentioned criminal case be amicably settled.

NOW THEREFORE, for and in consideration of the foregoing premises, the parties have
mutually agreed as follows:

1. That the SECOND PARTY does hereby acknowledged her indebtedness to the FIRST
PARTY in the total amount of TWO HUNDRED SIXTY FIVE THOUSAND NINE
HUNDRED SEVENTY TWO PESOS AND SEVENTY SIX CENTAVOS (Php 265,972.76),
Philippine currency, representing the principal amount of claim, interest, attorney’s
fees, cost of suit and other related expenses.

2. That in order to fully satisfy his obligation to the FIRST PARTY, the SECOND PARTY,
IN FULL SATISFACTION AND PAYMENT of said indebtedness :
 2.a) Shall pay the FIRST PARTY a Monthly Payment of TWENTY SIX THOUSAND
FIVE HUNDRED NINETY SEVEN PESOS & TWENTY EIGHT CENTAVOS (Php
26,597.28), the payment of which shall be made by the issuance of post-dated
checks every 15th day of each month starting July 2012 until September 2013.

BANK CHECK NUMBER MONTH AMOUNT

July 15, 2012 26,597.28
August 15, 2012 26,597.28
September 15, 2012 26,597.28
October 15, 2012 26,597.28
November 15, 2012 26,597.28
December 15, 2012 26,597.28
January 15, 2013 26,597.28
February 15, 2013 26,597.28
March 15, 2013 26,597.28
April 15, 2013 26,597.28
Total 265,972.76

3. That compliance by the SECOND PARTY with this obligation shall be without the
necessity of demand.

4. That failure to pay any installment hereof, when due and without need for prior
notice or demand, shall constitute default and shall render the entire amount owing
due and demandable without prior notice and the same shall bear interest at the
rate of twelve percent (12%) interest per annum computed from date of default
and shall, further, cause the application by the FIRST PARTY with the court/ proper
authorities for the immediate ISSUANCE AND/OR SERVICE of a WARRANT OF
ARREST against the SECOND PARTY as the case maybe.

5. That the SECOND PARTY hereby authorizes the FIRST PARTY to assign/transfer its
rights in this Compromise Agreement, together with the corresponding deeds,
documents and other relevant papers. Toward this end, the SECOND PARTY agrees
to sign, execute and deliver any and all documents as may be necessary to
implement such assignment/transfer. The SECOND PARTY shall not transfer or
assign any of his obligation under this Compromise Agreement without the prior
consent of the FIRST PARTY.

6. That the SECOND PARTY agrees to execute and deliver to the FIRST PARTY, without
demand, such further documents as may from time to time be required by the
latter to give full force and validity to this Compromise Agreement.

7. That Criminal Case No. 467544-46- CR entitled “People of the Philippines versus
Antonio Esteban ” for Violation of Batas Pambansa Bilang 22 shall be archived
pending satisfaction of above-mentioned indebtedness. Otherwise, the same shall
be revived upon default or failure on the part of the SECOND PARTY to pay the
above-mentioned obligation.
 IN WITNESS WHEREOF, the parties have hereunto set their hands on the _____
day of June, 2012, in the City of Manila, Philippines.

ELEANOR V. RETA ANTONIO C. ESTEBAN I

FIRST PARTY SECOND PARTY

Signed in the presence of:

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF MANILA )S.S.

BEFORE ME , a Notary Public for and in the City of Manila, this _____day of June,
2012, personally appeared the following:

Name Community Tax Cert. No. Date and Place of Issue

Eleanor V. Reta
Antonio C. Esteban I

all known to me and to me known to be the same persons who executed the foregoing
instrument and they acknowledged to me that the same is their free and voluntary act and
deed.

This instrument refers to a COMPROMISE AGREEMENT consisting of three (3)

pages including the page wherein this Acknowledgment is written, signed by the parties and
their instrumental witnesses.

WITNESS MY HAND AND SEAL this _____day of June, 2012 in the City of Manila,
Philippines.

Doc. No.
Page No.
Book No.
Series of 2012.