A simple small signal compressor. Ratio is about 1:3 to 1:5 and can be set by the 100k linear trimpot. (It determines the minimum vol. level a (sinus) signal will fall down to)
The 1k, 10k and 100k resistors located in the center, set sth. that one could call the "decay" or the "knee" of the compressor.
(It determines the "hardness" of leveling a sinus signal to the minimum vol.level set by the trimpot)
They may be substituted by a pot as well.