{"id":39981,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/full-recourse-promissory-note-paypal-inc-and-peter-thiel.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"full-recourse-promissory-note-paypal-inc-and-peter-thiel","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/full-recourse-promissory-note-paypal-inc-and-peter-thiel.html","title":{"rendered":"Full Recourse Promissory Note &#8211; PayPal Inc. and Peter Thiel"},"content":{"rendered":"<pre><p align=\"CENTER\">\n\n<br><b>FULL RECOURSE PROMISSORY NOTE    <br>  <\/b><\/p>\n\n\n<\/pre>\n<table width=\"100%\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tr valign=\"BOTTOM\">\n<td width=\"49%\" valign=\"TOP\">$1,350,000.00<br \/>\nPalo Alto, California<\/td>\n<td width=\"3%\" valign=\"TOP\"> <\/td>\n<td width=\"49%\" align=\"RIGHT\" valign=\"TOP\">September 10, 2001<\/td>\n<\/tr>\n<\/table>\n<p>        For<br \/>\nvalue received, the undersigned promises to pay PAYPAL, INC., a Delaware corporation (the &#8220;<i>Company<\/i>&#8220;), at its principal office the<br \/>\nprincipal sum of One Million Three Hundred Fifty Thousand Dollars and No Cents ($1,350,000.00) with interest from the date hereof at a rate of Eight Percent (8.00%) per annum, compounded annually, on<br \/>\nthe unpaid balance of such principal sum. Such principal and interest shall be due and payable on September     , 2005. <\/p>\n<p>        If<br \/>\nthe undersigned&#8217;s employment or consulting relationship with the Company is terminated prior to payment in full of this Note, this Note shall be immediately due and payable. <\/p>\n<p>        Principal<br \/>\nand interest are payable in lawful money of the United States of America. Amounts due under this Note may be prepaid at any time without penalty. <\/p>\n<p>        THIS<br \/>\nNOTE IS A FULL RECOURSE PROMISSORY NOTE. Should suit be commenced to collect this Note or any portion thereof, such amount of attorneys&#8217; fees and other collection fees paid by the<br \/>\nCompany as the court or arbitrator may deem reasonable shall be added to the principal amount herein. The makers and any endorsers severally waive presentment for payment, protest, notice of protest<br \/>\nand notice of non-payment of this Note. This Note shall be construed in accordance with the<br \/>\nlaws of the State of California, without regard to the conflicts of law provisions of the State of California or of any other state. <\/p>\n<table width=\"76%\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tr valign=\"TOP\">\n<td width=\"49%\"> <\/td>\n<td width=\"3%\"> <\/td>\n<td width=\"49%\">\/s\/ Peter Thiel<\/p>\n<hr noshade> Peter Thiel<\/td>\n<\/tr>\n<\/table>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8469],"corporate_contracts_industries":[9416],"corporate_contracts_types":[9539,9544],"class_list":["post-39981","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-paypal-inc","corporate_contracts_industries-financial__credit","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/39981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=39981"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39981"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39981"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}