Employee Equipment Loan Agreement

EMPLOYEE EQUIPMENT LOAN AGREEMENT

This Employee Equipment Loan Agreement (the Agreement) is made effective as of by and between Employer Name: and Employee Name: .

Personal Information

Position Information

Start date:    Salary/Rate: $

Equipment Details

Loan start date:    Expected return date:

Loan Terms and Use

The Employer hereby loans the equipment described above to the Employee for legitimate business use. The Employee acknowledges receipt of the equipment in the condition described and agrees to:

1. Use the equipment only for business purposes unless otherwise authorized in writing;
2. Maintain the equipment in good working order and not modify hardware or software without prior written approval;
3. Permit Employer inspection of the equipment upon request;
4. Return the equipment promptly upon termination of employment or upon Employer request.

Care, Loss and Damage

The Employee is responsible for reasonable care and custody of the equipment. The Employee agrees to report loss, theft, or damage within 24 hours and to cooperate with any investigation. The Employee shall be liable for:

• Replacement or repair costs for damage caused by negligence or intentional misconduct;
• Costs for lost or unreturned equipment up to the replacement value listed above, subject to applicable law and Employer policies;
• Any deductibles under applicable insurance covering the equipment where the Employee’s conduct caused the loss.

The Employee authorizes the Employer to recover reasonable unreimbursed repair or replacement costs by payroll deduction to the extent permitted by law. By checking the box below, the Employee acknowledges this authorization.

I authorize the Employer to deduct repair or replacement costs from my pay as permitted by law.

Software, Data and Security

The Employee shall not install unlicensed or unauthorized software. All business data created or stored on the equipment is the property of the Employer. Employee shall:

• Comply with Employer security policies, including use of passwords and encryption when required;
• Not disable security or tracking software installed by Employer;
• Notify Employer prior to disposal, transfer, or return of the equipment to permit secure data removal.

Insurance and Liability

Employer may insure equipment at its discretion. Insurance does not limit the Employee’s obligation to exercise reasonable care. Employer is not liable for loss of personal data stored on the equipment. Employee must maintain appropriate personal insurance for personal items not covered by Employer.

Termination, Return and Inspection

Upon termination of employment or at Employer’s request, the Employee shall return the equipment in the same condition subject to reasonable wear and tear. Employer may inspect equipment and retain copies of work-related data. If equipment is not returned within a reasonable period after demand, Employer may pursue recovery and deduct lawful amounts from final wages as permitted by law.

Employee Representations and Authorization

The Employee represents that they have read this Agreement, understand its terms, and are authorized to accept the equipment. The Employee authorizes Employer to contact references and prior employers to verify information where relevant to Employer policies.

I authorize Employer to contact prior employers and references and to conduct background checks in accordance with applicable law.

At-Will Employment and Equal Opportunity

Nothing in this Agreement alters the at-will nature of the Employee’s employment, unless an express written agreement stating otherwise is signed by an authorized officer of Employer. Employer is an equal opportunity employer and will not discriminate in its policies or decisions.

Governing Law; Severability; Entire Agreement

This Agreement is governed by the laws of the state in which the Employer’s principal place of business is located, without regard to choice-of-law principles. If any provision is found unenforceable, it will be severed and the remainder will remain in effect. This Agreement constitutes the entire understanding regarding loaned equipment and supersedes prior oral or written statements on this subject.

Employment History

From to

From to

Education

References (Professional)

Employee Certification

I certify that all information provided in this Agreement and in the employment history and references sections is true and complete to the best of my knowledge. I acknowledge that providing false information may be grounds for disciplinary action up to and including termination.

By signing below, Employee accepts responsibility for the care and timely return of the equipment and agrees to the terms set forth in this Agreement.

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