Dear __________________
Although the company appreciates all that you have pointed out in your letter, we do not believe a raise is in order at this time. It is the custom of _________________________ (name of the company) to review all employee benefits and compensation in__________ (month), at the end of the fiscal year.
Certainly, at that time you will be considered for a salary increase, providing the production figures for your division are significantly increased.
Date: ____________
For value received, the undersigned jointly and severally promise to pay to the order of ___________________, the sum of _____________(amounts)in ________ consecutive, monthly payments of _____________ (amounts) each, beginning one month from date hereof and thereafter on the same date of each subsequent month until paid in full. Any unpaid balance may be paid at any time without penalty and any unearned finance charges will be refunded based on the______________ (rule). In the event the undersigned defaults in any payment beyond ____________ days from the due date, the entire balance may be due at the option of the holder.
1. Proceeds ________________________________________
2. Other charges [itemize] ___________________________
3. Amount financed [1+2] ___________________________
4. Total of payments ________________________________
5. Annual Percentage Rate _______________ %
___________________________________
Signature
