Housing Down Payment Clause Samples

Housing Down Payment. At the time of Executive’s relocation to the Company’s principal executive office, the Company will provide a non-interest bearing note of One Hundred Forty Thousand U.S. Dollars ($140,000) with a six (6)-year term from the Effective Date. If Executive should leave the Company for any reason before August 1, 2026, Executive will be responsible for reimbursing the Company on a pro-rata monthly basis for the remaining amount from the date of his termination up to August 1, 2026.