Sample Employee Loan Agreement Promissory Note
Sample Note
This note, prepared by Anna A. Lipman, sets forth the terms and conditions of an employee loan agreement promissory note between Galactic Gadgets Inc, located at 777 Galaxy Way, Seattle, WA 98109, USA and the undersigned Employee.
Promise to Pay
Under the Employee Loan Agreement Promissory Note, an Employee promises to repay Galactic Gadgets Inc. a predefined amount in set installments at a specified interest rate, on established dates, until the loan is fully repaid.
Borrower’s Acknowledgment
The undersigned Employee acknowledges and promises that they owe Galactic Gadgets Inc. the agreed sum and will repay it according to the schedule specified in the contract.
Default
If the Employee defaults on this Payment Plan, then the company will have the option to declare the entire balance immediately due and payable without further notice.
Prepayment
The borrower can pay the full loan amount ahead of the scheduled payment date without incurring a prepayment penalty.
Governing Law
This Employee Loan Agreement Promissory Note shall be governed by and construed under the laws of the state of Washington.
Contact Information
To connect with the owner of this agreement, Anna A. Lipman can be contacted using the following contact details:
Phone: 222 555 7777
Email: AnnaALipman@gmail.com
Company Email: service@galacticgadgets.com
This document remains valid until the loan amount is repaid in full. The Employee is urged to read carefully and comprehend the terms and conditions before signing the agreement.
