Site News

Februay 11, 2011: Blitz Document v.4.9.3

November 16, 2010: Blitz Document v.4.9

September 15, 2009: Blitz Document v.4.8

July 01, 2009: Blitz Document v.4.7

April 20, 2009: Blitz Document v.4.6

March 5, 2009: Blitz Document v.4.5

February 16, 2009: 'Rental Agreement' template

January 23, 2009: 'Permission to Use Copyrighted Material' template

December 1, 2008: 'Independent Contractor Agreement (2)' template

...

February 23, 2001: Blitz Document v.1.0

    Free Software Download

Download Employee Loan Agreement automated document template / form

EMPLOYEE LOAN AGREEMENT
This Employee Loan Agreement and Promissory Note (the Agreement) is made and effective this 11th day of July, 2009,
BETWEEN: [COMPANY NAME] (the 'Company'), a corporation organized and existing under the laws of the state of [STATE] with its head office located at: [STREET], [CITY], [STATE] [ZIP CODE]
AND: [NAME] (the 'Employee'), an individual with its main address at: [STREET], [CITY], [STATE] [ZIP CODE]
WHEREAS, Employee has requested a loan from Company for personal reasons;
NOW THEREFORE, in consideration of the mutual promises and covenants contained herein, Company and Employee agree as follows:
LOAN & PAYMENT
1.  On the date first written above, Company shall loan to Employee the sum of $10,000.00 at an annual interest rate of six percent (6%) and payable by withholding of $109.38) per bi-weekly pay period commencing on 01 March 2007 and continuing until 01 September 2010, with the balance if any due on such date.
PLEDGE
2. As security for the repayment of such loan, in addition to any and all other rights and remedies Company may have hereunder or at law, Employee hereby pledges ALL owned shares of Company's common stock, par value $0.01 per share, held by Employee and in addition ALL vested shares subject to options granted to Employee under any applicable Stock Option Agreement entered into between Employee and Company.
SELLING OWNED STOCK/EXERCISING VESTED OPTIONS
3. For the purpose of paying the loan hereunder in full, together with accrued interest, Employee agrees to sell any owned stock (if any) and/or exercise and sell any vested shares subject to options when the market price of Company's common stock reaches $10.00 or more per share. Employee shall thereafter apply the proceeds of the sale to satisfy the loan in full hereunder. Employee shall only be required to exercise and sell a quantity of vested shares subject to options necessary to satisfy the indebtedness hereunder. Employee shall be solely responsible for the payment of any and all federal and state taxes associated with the exercise and selling of any vested shares subject to options.
PROMISSORY NOTE
4. For value received, Employee unconditionally promises to pay to Company, upon demand on 01 September 2010 or as soon as Employee is no longer an employee of Company, the principal sum of $10,000.00 with interest, less any and all payments then made, without set-off, deduction or counterclaim.
GOVERNING LAW
5. This Agreement shall be construed and enforced in accordance with the laws of the State of [STATE].
WITNESS WHEROF, Company and Employee have executed this Agreement as of the date first set forth above.
COMPANY

 
EMPLOYEE

 
Stephen Cochran
President
[NAME]



Download Blitz Document Automation software