PLARIDEL C. JOSE, PLAINTIFF-APPELLEE, VS. CHAM SAMCO & SONS, INC., AND FERMIN UY, DEFENDANTS-APPELLANTS.

The parties herein have filed a compromise agreement of their
controversy, praying that the same be approved by the Court, to wit:

“COMPROMISE
AGREEMENT

“1. Upon the
signing of this Compromise Agreement, defendant-appellant Cham
Samco and Sons, Inc. will pay to plaintiff-appellee Plaridel C. Jose the sum
of TWENTY FIVE THOUSAND PESOS (P25,000.00), Philippine currency.

“2. In consideration
of the said sum of P25,000.00, plaintiff-appellee will assign, transfer and convey, absolutely and
irrevocably, to defendant-appellant Cham Samco & Sons, Inc. and all his shares of stocks in Cham Samco & Sons, Inc. and
all his shares of stocks in Trinity Steel Products, Inc. acquired by him from
Martin Cham and/or any other means.

“3. In
consideration of the foregoing mutual and reciprocal covenants, the parties
hereby waive, renounce and quit claim in favor of each other any and all
actions, causes of actions, demands and/or claims which they may have against
each other arising from and/or connected with the transaction(s) subject matter
of this case, whether or not pleaded expressly or impliedly in the complaint and/or the counterclaim filed in
the proceedings a quo.

“4. It is the
intention of the parties in entering into this Compromise Agreement to settle
amicably all disputes involved in this litigation and to put forever at rest
all issues arising therefrom.

“WHEREFORE, it is respectfully prayed that judgment be
rendered in accordance with the tenor of this foregoing Compromise Agreement,
without pronouncement as to costs and attorney’s fees.”

It appearing that the
foregoing compromise agreement is not contrary to law, morals or public policy,
the Court hereby approves the same and renders judgment in accordance
therewith. No costs.

SO ORDERED.

Makasiar, (Chairman), Aquino, Guerrero, Abad Santos, and Relova, JJ., concur.

Concepcion, Jr., J., on leave.

De Castro, J., on sick leave.