January 6, 2014

PROMISSORY NOTE
Consideration of promissory note: Php 6,000.00
In consideration of the amount received for the trainings received, I, (name of employee), of legal age,
single/married, and a resident of ______________________, employed as a spa therapist at Elysia
Wellness and Spa, promise to pay Elysia Wellness and Spa, duly organized and existing under Philippine
laws with business address at Toril, Davao City, Philippines, the amount of Six Thousand Pesos,
Philippine currency (Php 6,000.00) starting January 30, 2014 and ending on or before March 30, 2014.
Further, it is hereby agreed that my contract with Elysia Wellness and Spa shall be for a period of two (2)
years and my license shall be for the exclusive use of Elysia Wellness and Spa.
In connection with the payment of the loan amount, I agree and hereby authorize Elysia Wellness and Spa
to automatically and without need for demand, deduct the installments due on a bi-monthly basis from my
salary until the loan amount is fully paid. In the event of my resignation at any time before the loan is
fully paid, the balance of this promissory note shall immediately become due and demandable and shall
be applied as a deduction against any amounts due to me from Elysia Wellness and Spa.
(Name of borrower)
Maker
Date signed: ___________
Witnesses:
_______________________
(Signature over printed name)

______________________
(Signature over printed name)

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)S.S.
BEFORE ME, a NOTARY PUBLIC for and in Davao City, Philippines, personally appeared
__________________________(name of borrower) with valid ID nos. _______________________,
issued by ______________ on ____________________ known to me as the same person who executed
the foregoing Promissory Note and acknowledged that the same is his free act and deed.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my notarial seal this
______________________, at _________________________, Philippines.
Doc. No.:_____;
Page No.:_____;
Book No.:_____;
Series of 2014