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The agreement establishes the loan amount, annual interest rate, and payment method, including schedules based on withholding amounts and installment timing. The promissory note section requires the employee to repay the principal with interest upon demand or when employment ends, with payments applied without set-off or deductions. 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On the date first written above, the Company shall loan to Employee the sum of $__________ at an annual interest rate of ___ percent (__%) and payable by withholding of $ ______ per ____________ commencing on ___________ and continuing until __________, with the balance if any due on such date.\nPROMISSORY NOTE. For value received, Employee unconditionally promises to pay to the Company, upon demand on __________ or as soon as Employee is no longer an employee of the Company, the principal sum of $__________ with interest, less any and all payments then made, without set-off, deduction or counterclaim.\nGOVERNING LAW. This Agreement shall be construed and enforced in accordance with the laws of the Province of ________, Canada.\nWITNESS WHEROF, the Company and Employee have executed this Agreement as of the date first set forth above.\n------------------------                        -----------------------","cbCaiiZtcbHZgt8g","https://ap.wps.com/l/cbCaiiZtcbHZgt8g","docx",25331,"English","# Loan & Payment\n# Promissory Note\n# Governing Law","[{\"question\":\"What are the key payment terms in the agreement?\",\"answer\":\"The agreement specifies the loan principal, the annual interest rate, and payment by withholding amounts on a defined schedule until a stated end date.\"},{\"question\":\"When is repayment due under the promissory note?\",\"answer\":\"Repayment is due upon demand on the specified date or as soon as the employee is no longer employed by the company.\"},{\"question\":\"Which law governs the agreement?\",\"answer\":\"The agreement is construed and enforced according to the laws of the named province in Canada.\"}]","Employee Loan Agreement - Promissory Note - Template | DOCX"]