Pennsylvania Escrow Agreement to be used with Stock Redemption Agreement between Corporation and Stockholder
Category:
State:
Multi-State
Control #:
US-0914BG
Format:
Word;
Rich Text
Instant download
Description
Escrow refers to a type of account in which the money, escrow instructions from both parties, and other documents necessary to complete the transaction by a date, is held by a third party, called an "escrow agent", until the conditions of an agreement are met.
A stock redemption agreement is a contractual arrangement between the shareholders and a close corporation. In the agreement, the close corporation is obligated to redeem the shares of the deceased, withdrawing or disabled shareholder. Retirement, death and disability tend to be the three most common withdrawal events found in buy-sell agreements, but corporations are not limited to those three and are free to mix and match as they see fit.
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