Encourage your employees to buy stock in the company by loaning them the money to purchase option shares, and securing the loan with this Purchase Money Promissory Note, for use in Canada.
- Interest on the Note will be calculated and paid monthly.
- The amount due under the Note is subject to setoff for bonus compensation and other amounts payable by the corporation to the employee.
- The employee grants the corporation a continuing security interest in the option shares.
This Canada Purchase Money Promissory Note for Employee to Purchase Option Shares
template is available in MS Word format, and can be edited as necessary to include all the specifics of your transaction.