DIVESTITURE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Divestiture Agreement is made and entered into by and between:

____________________, Filipino, of legal age, and with address at

_____________________, hereinafter referred to as the “FIRST PARTY”;

-and-

____________________, Filipino, of legal age, and with address at

________________________, hereinafter referred to as the “SECOND
PARTY”;

Witnesseth that:

WHEREAS, the FIRST PARTY made a capital investment in the business

operated by the SECOND PARTY;

WHEREAS, the FIRST PARTY decided to divest and/or withdraw the

capital investments that he placed in the aforesaid business which capital
investment will be purchased by the SECOND PARTY;

NOW THEREFORE, for and in consideration of the foregoing premises

and such other considerations contemplated hereunder, the FIRST PARTY and
the SECOND PARTY agree as follows:

1. The FIRST PARTY hereby divests and/or withdraws the capital

investment that he put into the business of the SECOND PARTY in the total
amount of PESOS: ONE MILLION THREE HUNDRED FIFTY TWO THOUSAND
(PHP1,352,000.00) broken down, as follows:

Php751,400.00
- Php600,600.00

Total Php1,352,000.00

2. The SECOND PARTY agrees to purchase the above-mentioned

capital investment made by the FIRST PARTYn nine (9) equal monthly
installments starting July 2022 until March 2023 in the amount of PESOS: ONE
HUNDRED FIFTY THOUSAND TWO HUNDERED TWENTY TWO and 22/100
(PHP150,222.22) for each instalment on the 15 th day of each month without
need of any demand;

3. The payment of the said monthly installments shall be covered by

post-dated checks;

4. The FIRST PARTY and the SECOND PARTY to this Compromise

Agreement shall endeavour to observe faithfully and comply strictly with the
foregoing terms and conditions. In case of failure or default by the SECOND
PARTY to comply with any of the terms and conditions of this Agreement,
including the payment of any installment as it falls due, shall render the whole or
remaining obligation immediately due and demandable.
 5. Upon the full payment of the aforesaid amount in paragraph 2
hereof, all other claims, suits or legal action in connection with or arising from
this Agreement shall be deemed waived, abandoned, or relinquished.

IN WITNESS WHEREOF, the parties hereunto affixed their signatures this

_____ day of March 2022 in _________________.

First Party Second Party

Signed in the Presence of:

_____________________ _____________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

________________ CITY ) Sc.

BEFORE ME, a Notary Public for and in _____________, this

_____________, personally appeared:

Name I.D. No. Date/Place Issued

Known to me and to me known to be the same persons who executed the

foregoing Compromise Agreement, consisting of two (2) pages including this
page where this Acknowledgment appears, and they attested to me that the
same is their voluntary act and deed as well as those of the principals they
respectively represent.

WITNESS MY HAND AND SEAL this ____ day of March 2022 in

_____________

Doc. No. _______;

Page No. _______;
Book No. _______;
Series of 2022.