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1. Parties: Identification of the employer (Promisee) and employee (Promisor), including their complete legal names, addresses, and tax identification numbers

2. Background: Context of the employment relationship and the circumstances leading to the creation of the promissory note

3. Definitions: Key terms used in the document, including but not limited to Payment Terms, Default, Interest Rate, and other relevant financial and employment-related terms

4. Amount of Indebtedness: Clear statement of the principal amount owed, expressed in both numbers and words

5. Promise to Pay: Unconditional promise to pay the stated amount, including the specific payment schedule and terms

6. Interest Rate: Specification of any applicable interest rate, ensuring compliance with Philippine usury laws

7. Payment Terms: Detailed payment schedule, including installment amounts, due dates, and method of payment

8. Security: Any security or collateral provided against the promise to pay

9. Events of Default: Circumstances that constitute default and the consequences thereof

10. Employment Link: Relationship between the promissory note and continued employment, if any

11. Governing Law: Specification that Philippine law governs the agreement

12. Execution: Signature blocks, date, and witness requirements

1. Payment Schedule: Detailed breakdown of payment dates, amounts, and running balance

2. Computation of Interest: If applicable, schedule showing how interest is computed and applied

3. Security Details: If applicable, detailed description of any security or collateral provided

4. Employment Terms Reference: Reference to relevant employment terms affecting the promissory note