Common use of AUTHORIZATION FOR PAYROLL DEDUCTION Clause in Contracts

AUTHORIZATION FOR PAYROLL DEDUCTION. You acknowledge that in connection with the exercise of certain options to purchase the Company’s common stock, the Company extended a loan to you in the principal amount of $118,961 (“Loan”). Interest on the Loan, calculated through April 30, 2003 is $26,192. You hereby authorize the Company to use the net proceeds of the Bonus, to the extent earned by you, to repay the Loan, including all accrued and unpaid interest as of that date.

Appears in 1 contract

Samples: Employment Agreement (Valicert Inc)

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AUTHORIZATION FOR PAYROLL DEDUCTION. You acknowledge that in connection with the exercise of certain options to purchase the Company’s common stock, the Company extended a loan to you in the principal amount of $118,961 360,000 (the “Loan”). Interest on the Loan, calculated through April 30, 2003 is $26,192. You hereby authorize the Company to use the net proceeds of the Bonus, to the extent earned by you, to repay the Loan, including all accrued and unpaid interest as of that date.

Appears in 1 contract

Samples: Employment Agreement (Valicert Inc)

AUTHORIZATION FOR PAYROLL DEDUCTION. You acknowledge that in connection with the exercise of certain options to purchase the Company’s common stock, the Company extended a loan to you in the principal amount of $118,961 165,000 (the “Loan”). Interest on the Loan, calculated through April 30, 2003 is $26,19229,700. You hereby authorize the Company to use the net proceeds of the Bonus, to the extent earned by you, to repay the Loan, including all accrued and unpaid interest as of that date.

Appears in 1 contract

Samples: Employment Agreement (Valicert Inc)

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AUTHORIZATION FOR PAYROLL DEDUCTION. You acknowledge that in connection with the exercise of certain options to purchase the Company’s common stock, the Company extended a loan to you in the principal amount of $118,961 60,000 (the “Loan”). Interest on the Loan, calculated through April 30, 2003 is $26,19213,200. You hereby authorize the Company to use the net proceeds of the Bonus, to the extent earned by you, to repay the Loan, including all accrued and unpaid interest as of that date.

Appears in 1 contract

Samples: Employment Agreement (Valicert Inc)

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