Unsecured employer-to-employee loan agreement (short form) with salary deductions, optional interest and tax indemnity—English law

Published by a LexisNexis Employment expert

Precedents

This Agreement

This Agreement is dated [ insert date ]

Parties

[ insert name of employee borrower ], of [ insert address ] (Employee)
[ insert name of employer lender ], a company incorporated in England and Wales with registered number [ insert company number ], whose registered office is at [ insert address ] (Employer)

The parties agree as follows:

Definitions

1.1 In this Agreement, unless stated otherwise:

Drawdown Date means [ insert date ];
Event of Default has the meaning given in Clause 6;
Loan means the sum of £[ insert figure ] (£[ insert amount in words ]) to be advanced by the Employer to the Employee under this Agreement, to the extent not yet repaid;
Repayment Date has the meaning given in Clause 4.

The Loan

2.1 Subject to the provisions of this Agreement, the Employer will provide the Loan to the Employee for the purpose of [ buying an annual gym membership OR buying an annual travel season ticket OR [ insert description ] ] ...

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Web page updated on 22/05/2026

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