EMPLOYEE LOAN/PAYROLL ADVANCE AGREEMENT

I, _____________________, an employee _______________________________.,

have requested from my employer and employee loan or payroll advance in the
amount One Hundred Twenty Thousand Pesos (Php 120,000.00)

My employer has agreed to lend/advance me funds based upon my repaying the

funds via my payroll at Three Thousand Five Hundred Pesos (Php 3,500.00) per
pay period (10th and 25th of the month) via payroll deduction.

I understand and agree that should I terminate my employment for any reason,
prior to the complete repayment, the remaining balance due will be deducted
from my final check. If the final paycheck is insufficient to cover the complete re-
payment of this loan, then I promise to continue paying bi-monthly/monthly
payments until the obligation is paid in full. My employer has the right to collect
these funds at my expenses (including attorney’s fees) should I fail to perform the
stated obligations.

Attached to this Agreement likewise, as Annex “A”, is proof that the Employee
received the funds, in the form stated therein, from the Employer.

This agreement is entered into by the parties this _____ day of ______________,
2021.

_______________
Employee Date

Employer

______________________ _______________
Representative Date