TRAINING GRANT AGREEMENT

Managers Development Program

<Name of Company> Academy
Date
Requesting Party
TRAINING DETAILS

Inclusive Dates/Venue/Cost

Purpose Of Training

Skills Enhancement Training

I hereby request for approval to undergo training as per the afore stated
details and purpose. I understand that the approval of this request is
purely at the sole discretion of the Company.
In the event that this request is granted I acknowledge that all costs and
expenses related to my training shall constitute as an advance which I
have to repay in accordance with the terms provided below. I also agree
on the Company deducting the amount equivalent to Seventy-Five
Thousand Pesos (Php 75,000.00) or such balance due the Company in
accordance with the terms and conditions stated below.

Signature of Requesting Party

Training Grant Terms And Conditions

At the request of above Requesting Party, the Company has agreed to
allow and permit the Requesting Party to attend the training abovedescribed subject to the terms and conditions set forth below 1. The Requesting Party hereby acknowledges a debt to the Company in
the amount of the total cost and expenses of training equivalent to
Seventy-Five Thousand Pesos
(Php 75,000.00) which he/she confirms as the total amount incurred for
his/her training.
2. The Requesting Party acknowledges and agrees that the total cost and
expenses of training shall be payable to the Company through the
Requesting Partys continued engagement tenure as employee/agent by
reducing the amount owed by Six Thousand Two Hundred Fifty pesos (Php
6,250.00) for every month of continued tenure thereby waiving the entire
amount owed after twelve months of continued tenure.
3. In the event of the Requesting Party severing his/her engagement with
Company as employee/agent prior to completing twelve months
engagement as an employee/agent, the Requesting Party is liable to
reimburse the remaining cost and expenses of his/her training.
4. The Requesting Party hereby authorizes the Company to deduct the
amount representing the balance payable to cover the cost and expenses
of his/her training from any and all amount that is due the Requesting

Party from the Company or from such funds belonging to the Requesting
Party in the possession of the Company. Provided, that if the entire
outstanding amount exceeds the amount payable to or the fund belonging
to Requesting Party upon his/her termination of engagement as agent, the
Requesting Party agrees to execute a promissory note in favor of the
Company for the entire outstanding amount.
5. In the event that the service of the Requesting Party is terminated by
the Company due to performance and/or indemnification issues, the
Company shall have the discretion whether to waive payment of the
remaining cost of training.
6. The Requesting Party understands that if it becomes necessary to
enforce this contract and judgment is entered against Requesting Party,
he/she will pay all costs and expenses incurred by the Company including
reasonable attorney fees.
Signed at ____________________ on this ________day of _____________ 20_____.

Requesting Party's Signature: ________________________

Witness1 Signature: __________________________

Witness2 Signature: __________________________