Escrow Amendment. Escrow Agent’s duties hereunder may be altered, amended, modified, or revoked only by a writing signed by all of the parties to this Agreement and approved by the Escrow Agent.
Escrow Amendment. The SPA shall be amended such that the escrow of twenty percent (20%) of the Closing Date Payment Amount shall be treated as follows:
Escrow Amendment. To the extent the Company requests during the Pre-Closing Period, the parties agree to amend this Agreement and the Escrow Agreement to provide that $200,000 of the Merger Consideration would be paid in cash instead of shares of Parent Common Stock and that such funds would be deposited into an account for the benefit of the stockholders of the Company pursuant to the Company's instructions, which funds will be used by the Stockholders' Agent to pay for its expenses in fulfilling its duties as Stockholders' Agent.
Escrow Amendment. Simultaneously with the execution and delivery of this Agreement, the Buyer, the Sellers' Representatives and the Escrow Agent are entering into a Release and Termination of the Escrow Agreement, in the form attached to this Agreement as Exhibit A (the "Release"), pursuant to which the remaining Escrow Amount, and the earnings and interest thereon, are to be released to the Sellers' Representatives and PhoneTel.
