Compromise Agreement

COMPROMISE AGREEMENT This Compromise Agreement entered into by and between: ___________________, of legal age, Filipino citizen and a resident of Brgy. ___________________, herein referred to as the FIRST PARTY; AND ___________________, of legal age, Filipino citizen and a resident of  ___________________, herein referred to as the SECOND PARTY; WITNESSETH: WHEREAS, the above-named parties ___________________, born on April 5, 2008;

are

the

biological

parents of 

WHEREAS, the parties have decided to amicably thresh out their differences

and to avoid any court litigation; NOW THEREFORE, upon the foregoing recitals, the parties agree, as they

hereby agree, to enter into this Compromise Agreement Agreement under the following: TERMS AND CONDITIONS

1. The FIRST PARTY acknowledges his responsibility to his son, ___________________ , his illegitimate child with the SECOND PARTY; 2. The FIRST PARTY shall continue to give the amount of One Thousand Two Hundred (P1,200.00) as month as his financial support to his child to cover for his daily sustenance, dwelling and clothing; 3. This amount shall be deposited on or before the end of the month in a PNB savings account No. 511620900019 under the name of ___________________; 4. The FIRST PARTY shall start to deposit the said amount on or before June 30, 2012 and every month thereafter; 5. The unsettled monthly financial support from the SECOND PARTY for the months of January-March 2009, May-June 2009, January-December 2010, January-December 2011 and JanuaryMay 2012, with a total amount of P31, 200.00, shall be given in _______;

6. The monthly financial support to his son which the FIRST PARTY undertakes to give shall be increased depending upon the increase in his salary; 7. The medical expenses of  ___________________shall be the  joint responsibility of the FIRST PARTY and the SECOND PARTY; 8. The FIRST PARTY undertakes to give voluntarily a considerable amount to his minor child out of his 13 th month pay, bonuses and other employment benefits without prior demand from the SECOND PARTY; 9. All employment benefits of the FIRST PARTY as well as other insurance policies, such as SSS, Pag-IBIG and PhilHealth, he shall have ___________________ as one of his dependents and beneficiaries; and 10. The SECOND PARTY shall take permanent custody of the minor child ___________________ subject to the right of the FIRST PARTY to have visitation privileges and other rights as a father; and This Compromise Agreement is executed by the parties freely and voluntarily and in accordance with law and not contrary to morals, public policy and good customs. IN WITNESS WHEREOF, the parties have hereby affixed their signatures

this ______ day of June 2012 at San Fernando City, La Union.

_______________

First Party

WITNESSES:

1. ___________________________ 2. ___________________________

___________________

Second Party

SUBSCRIBED AND SWORN to before me this ________ day of June 2012 at San

Fernando City, La Union.