# EMPLOYEE LOAN AGREEMENT
Date: 14 March 2031
Parties: Northmoor Analytics Limited and Daniel Reed
## 1. Purpose and parties
Northmoor lends Daniel Reed £3,600 to meet an agreed relocation cost. The loan is an advance, not wages or a discretionary bonus, and is separate from Daniel's employment contract. £1,800 is paid on 18 March and £1,800 on 1 April after receipts are checked.
## 2. Facts, scope and terms
Daniel repays £300 per month from 30 April 2031 for twelve months, without interest. He may prepay by bank transfer and will receive a statement. If a payment is missed, HR will discuss a revised affordable schedule rather than silently increasing deductions.
## 3. Process and responsibilities
Daniel expressly authorises the specified payroll deductions for the agreed instalments and any final lawful balance. Northmoor will check the deduction against the contract, statutory rules and National Minimum Wage requirements; it will not deduct an amount that leaves unlawful pay or take a disputed amount without authority.
## 4. Evidence, records and safeguards
Daniel must use the advance for the relocation invoices, provide receipts and notify HR of address or bank changes. Northmoor keeps the agreement, payment record and receipts securely and uses them for administration, tax and accounting only. No guarantor or security is required.
## 5. Review, escalation and outcome
On resignation or dismissal, the balance does not become an unlawful penalty. Northmoor may request repayment under the schedule, agree instalments or deduct only an authorised, lawful amount from final pay. Any disagreement may be raised through the grievance process without retaliation.
## 6. Reservations and practical protections
The loan does not vary Daniel's salary, working hours or statutory employment rights. A tax or benefit consequence is not promised; Daniel may take independent advice. A waiver or amendment must be in writing and signed by both parties.
## 7. England and Wales law and completion
England and Wales law applies. Notice by hand, post and HR email are separate permitted methods. Daniel and Northmoor sign on 14 March 2031, and the deduction authority applies only to the figures and dates stated.