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Timberville Electronics |
Employee Name: __________________________________________ AGREEMENT, by and between Timberville Electronics, Inc. a Virginia corporation, having an office at 297 New Market Road, Timberville, VA 22853 ("Timberville Electronics"), and the Person, Persons or agent signing hereby jointly and severally bind ourselves, our respective heirs, executors, administrators and successors to the following. (“the Employee”) WITNESSETH: WHEREAS , Timberville Electronics is in the business of selling satellite equipment, Services and related products;WHEREAS, The Employee wishes an payroll advance Timberville Electronics will provide and payroll advance; NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: I, the undersigned employee, in consideration of the above payroll advance pay given to me by Timberville Electronics, hereby authorize Timberville Electronics Payroll Department to deduct the above advance amount from the net earnings payable starting immediately following the date of receipt of the advance amount. I understand that each such deduction shall be ($_______) until paid. I further understand and agree that my acceptance of the advance amount and this related authorization for payroll deduction shall in no way be construed as a contract for my continued employment with Timberville Electronics. In the event of my termination of employment with Timberville Electronics, whether voluntary or involuntary, prior to the total recovery by Timberville Electronics of the amount advanced to me, I authorize Timberville Electronics to deduct the all remaining monies owed from this advance or any other monies owed to Timberville Electronics or any of their business's from my final paychecks and any outstanding balance shall be due in full and payable within 30 days. In the event my final paychecks are insufficient to repay monies owed, I recognize my absolute and irrevocable obligation to fully repay any remaining monies to Timberville Electronics within 30 days. After termination of employment with Timberville Electronics, whether voluntary or involuntary employee will be responsible for any and all Attorney fees and collection costs including interest at a rate of 24%APR. The Employee authorizes Timberville Electronics or their agents to collect these amounts.
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