Republic of the Philippines )

Quezon City, Metro Manila ) S.S.

COMPROMISE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This COMPROMISE AGREEMENT executed this 16TH day of March 2023

in Quezon City, Metro Manila, by and among:

PPC ASIA CORPORATION, represented by ZEUS T. TADEO,

of legal age, and with office address at 28 th Floor The Upper-Class
Tower Quezon Avenue, Quezon City, hereinafter referred to as the
FIRST PARTY;

-AND-

E. BAYSON BATTERY SHOP & AUTOPARTS, represented by

EDGARDO E. BAYSON of legal age and with postal address at Purok 6
Calao East, Santiago City, Isabela, and hereinafter referred to as the
SECOND PARTY.

WITNESSETH THAT:

WHEREAS, the SECOND PARTY has an outstanding obligation to

the FIRST PARTY in the total amount of PESOS: THREE MILLION
(Php3,000,000.00) by virtue of the Business Development and
Assistance Program (BDAP) Agreement with the PPC Asia Corporation.

WHEREAS, in order to save time and from the inconvenience an

execution via levy of properties may bring, both parties have finally come
to an agreement to settle the said obligation, thus they now enter into
this Compromise Agreement.

NOW THEREFORE, for and in consideration of the foregoing, both

parties have agreed on the following terms and conditions, to wit:

1. The SECOND PARTY agrees to pay to the FIRST PARTY the

WHOLE OBLIGATION FROM OCTOBER 15, 2023 UNTIL MARCH
15, 2024 or 6 Months, without need of demand, under the
following schedule:

AMOUNT DATE PAYABLE

Php 500,000.00 On or before October 15, 2023
Php 500,000.00 On or before November 15, 2023
Php 500,000.00 On or before December 15 2023
Php 500,000.00 On or before January 15 2023
Php 500,000.00 On or before February 15 2023
Php 500,000.00 On or before March 15 2023
Php 3,000,000.00 TOTAL
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2. The SECOND PARTY is not prohibited under this Agreement to pay

the FIRST PARTY more than the stipulated amounts per
installment as herein stated;

3. All payments shall be made via POST-DATED CHECKS which shall

be given in advance to the FIRST PARTY;

4. Payments on due date can cleared only when the check was
successfully deposited to the account of the FIRST PARTY. Once all
checks were cleared, the SECOND PARTY shall be free from all his
obligations with the FIRST PARTY under the BDAP Agreement;

5. That in case of default of payment for at least one (1) month, the
FIRST PARTY will have all the right to fully implement all the
necessary legal remedies available in order to protect its rightful
claim;

6. This Compromise Agreement was entered into voluntarily and

knowingly by the FIRST PARTY and SECOND PARTY who
undertake to faithfully comply with the terms set forth herein.

IN WITNESS WHEREOF, the parties have executed and signed their

names on the date and place first above-written.

Kristine S. Co Edgardo E. Bayson

Chief Compliance Officer Owner
PPC ASIA CORPORATION E. BAYSON BATTERY SHOP &
AUTO PARTS

WITNESSETH:

Zeus T. Tadeo
Credit and Collection Manager
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A C K NO W L E D G M E N T

Republic of the Philippines )

________________________ ) S. S.

BEFORE ME, a notary public for and in _____________ on this ___ day of
_______ 2023, personally appeared:

NAME ID No. Issued on/at

KRISTINE S. CO N03-94-16375B 2033/01/07
EDGARDO E. BAYSON _____________ ___________

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

the foregoing instrument and acknowledged before me that the same is their free
act and voluntary deed.

This instrument, consisting of three (3) pages, including the page on

which this acknowledgment is written, which has been signed on the left margin
of each and every page thereof by the contracting parties and their witnesses,
and sealed with my notarial seal.

IN WITNESS WHEREOF, I have hereunto set my hand, the day, the year,
and the place above written.

Doc. No. ____;

Page No. ____;
Book No.____;
Series of 2023.