Encourage your employees to buy stock in the company by loaning them the money to purchase option shares, and securing the loan with this Purchase Money Promissory Note form for Canada. Terms of the Note include:

• Interest will be calculated and paid monthly.
  
• The amount due under the Note is subject to setoff for bonus compensation and other amounts payable by the corporation to the employee.
  
• The employee grants the company a continuing security interest in the option shares.

This is a Canadian promissory note form in MS Word format, and can be edited as necessary to include all the specifics of your transaction.