Typically, these notes (also frequently referred to as Employee Forgivable Loans or EFLs) are bastardized versions of bonuses but for the fact that the employer firm pointedly takes exception to characterizing the payments as fullyearned bonuses and is typically meticulous to draft the written documentation as a loan supported by promissory notes that are forgiven on anniversaries of employment.
We further confirm that these funds are good, clean, cleared, of non-criminal origin, free of any liens or encumbrances, were legally earned, and are fully transferable.