AGREEMENT

This AGREEMENT is given by the undersigned _______________ (hereinafter referred to as

“Employee”) residing at _____________________ in favor of Employer, a domestic corporation
duly organized and existing under and by virtue of the laws of the Republic of the Philippines
engaged in the business of importing and distributing Biochemistry reagents and machines,
equipment in the Philippines with principal address at ______________________.

WHEREAS
A. Employee has been in the employ of the Company as ________ since ____________.
B. Employer provided a short term loan in order to assist Employee in acquiring fund for his
___________ due to the _______________ with a total amount of
________________________.
C. Employer provided a short term loan in order to assist Employee in acquiring fund for
_________________ with a total amount of _____________________/
D. Employer has the discretion to fully waive the full loan amount granted on the terms
provided.

NOW THEREFORE IT IS AGREED BY AS

FOLLOWS
1. Employer will temporarily deduct to employee’s salary for the loan granted until fully
paid.

2. Employee is expected to be loyal to the company and shall not at any time or times,
without the consent of the company, either during the term of his employment or
thereafter, disclose, divulge or make public technical or business know-how or
information acquired by him from the company.
 3. For the reimbursement of the loan amounting to __________________, the employee
must completely serve the period of his training bond which is up to _______________.

4. Employer will grant reimbursement of the total actual cost of medical and hospital
billings only. (Exclusive of Philhealth and SSS reimbursement)

5. In the event of breach of terms of any of the Clauses foregoing, or when Employee
voluntarily resigns or was terminated with cause from the company, Employee
undertakes to pay the remaining loan balance, otherwise the employer shall deduct the
remaining balance of the loan to his remaining last salary.

______________ _____________
Employee Employer
Date: Date:

Doc No.___________
Page No.__________
Book No.__________
Series of 2019