FOR VALUE RECEIVED, the undersigned being a creditor of 
[Company name] hereby enters into an agreement to compromise and
reduce the indebtedness due the undersigned on the following
terms and conditions:

     1. The Company and the undersigned acknowledge that the
        present debt due is $[numerical dollar amount].
     2. The parties agree that the undersigned shall accept the
        sum of $[numerical dollar amount] as full and total payment 
        on said debt and in complete discharge of all monies presently 
        due, provided the sum herein shall be punctually paid in
        the manner following: [clear description]
      
     3. In the event the Company fails to punctually pay the
        reduced amount, the undersigned creditor shall have
        full rights to prosecute it claim for the total debt
        due under paragraph 1 (less payments made).
     4. This agreement shall be binding upon and inure to the
        benefit of the parties, their successors, assigns and
        personal representatives.


Signed under seal this [numerical] day of [Month], [Year].


Creditor: ________________________________
                 [clearly print name after signature]

Company: _______________________________

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