Pennsylvania Employee Shareholder Escrow Agreement

• Category: Corporations - Public - Escrow
• State: Multi-State
• Control #: US-EG-9467
• Format: Word; Rich Text

Description

Employee/Shareholder Escrow Agreement between Daleen Technologies, Inc., Daleen-Canada Corp., Inlogic Software, Inc. Shareholders, Mohammed Aamir, and Montreal Trust Company of Canada wherein employees/shareholders have a portion of the exchangeable A Pennsylvania Employee Shareholder Escrow Agreement is a legal document that outlines the terms and conditions regarding the creation and management of an escrow account established for the benefit of employee shareholders in Pennsylvania-based companies. This agreement serves as a safeguard to protect the rights and interests of both the employees and the company during a merger, acquisition, or other significant corporate event. In a Pennsylvania Employee Shareholder Escrow Agreement, several key elements are typically included: 1. Parties Involved: The agreement specifies the parties involved, including the company, the employee shareholders, and the escrow agent who will manage the escrow account. 2. Purpose and Scope: The agreement outlines the specific purpose for creating the escrow account, whether it is for safeguarding employee stock options, restricted stock units (RSS), or other forms of employee equity. 3. Escrow Funds: The agreement details the amount of funds to be deposited into the escrow account, which may consist of a portion of the company's stock, cash, or a combination of both. These funds are usually contributed by the acquiring company, and their purpose is to secure the employee shareholders' interests. 4. Escrow Period: The agreement specifies the duration of the escrow period, during which the funds will be held in the account. This period could vary depending on the terms negotiated by the parties involved but is often determined by the occurrence of certain triggering events, such as the completion of the merger or acquisition. 5. Release Conditions: The agreement outlines the conditions under which the escrow funds will be released to the employee shareholders. These conditions typically include the successful completion of predetermined milestones, fulfillment of employment obligations, or the occurrence of a specific period after the corporate event. 6. Dispute Resolution: The agreement may include provisions regarding dispute resolution mechanisms, such as mediation or arbitration, to resolve any conflicts that may arise during the escrow period. In Pennsylvania, there are no specific variations or types of Employee Shareholder Escrow Agreements unique to the state. However, the contents of the agreement may vary depending on the specific circumstances of the corporate event and the parties involved.

A Pennsylvania Employee Shareholder Escrow Agreement is a legal document that outlines the terms and conditions regarding the creation and management of an escrow account established for the benefit of employee shareholders in Pennsylvania-based companies. This agreement serves as a safeguard to protect the rights and interests of both the employees and the company during a merger, acquisition, or other significant corporate event. In a Pennsylvania Employee Shareholder Escrow Agreement, several key elements are typically included: 1. Parties Involved: The agreement specifies the parties involved, including the company, the employee shareholders, and the escrow agent who will manage the escrow account. 2. Purpose and Scope: The agreement outlines the specific purpose for creating the escrow account, whether it is for safeguarding employee stock options, restricted stock units (RSS), or other forms of employee equity. 3. Escrow Funds: The agreement details the amount of funds to be deposited into the escrow account, which may consist of a portion of the company's stock, cash, or a combination of both. These funds are usually contributed by the acquiring company, and their purpose is to secure the employee shareholders' interests. 4. Escrow Period: The agreement specifies the duration of the escrow period, during which the funds will be held in the account. This period could vary depending on the terms negotiated by the parties involved but is often determined by the occurrence of certain triggering events, such as the completion of the merger or acquisition. 5. Release Conditions: The agreement outlines the conditions under which the escrow funds will be released to the employee shareholders. These conditions typically include the successful completion of predetermined milestones, fulfillment of employment obligations, or the occurrence of a specific period after the corporate event. 6. Dispute Resolution: The agreement may include provisions regarding dispute resolution mechanisms, such as mediation or arbitration, to resolve any conflicts that may arise during the escrow period. In Pennsylvania, there are no specific variations or types of Employee Shareholder Escrow Agreements unique to the state. However, the contents of the agreement may vary depending on the specific circumstances of the corporate event and the parties involved.