ESCROW AGREEMENTEscrow Agreement • January 8th, 2007 • Sun American Bancorp • State commercial banks • Florida
This Escrow Agreement (“Escrow Agreement”) is made and entered into as of this 29th day of December, 2006, by and among Sun American Bancorp., a Delaware corporation (“SAB”), Sun American Bank, a Florida commercial banking association (“SB”), Beach Bank, a Florida chartered commercial bank (“BB”), Michael Kosnitzky, in his capacity as the Shareholder Representative for BB and the shareholders of BB (the “Shareholder Representative”) and as Trustee pursuant to that certain Liquidating Trust Agreement dated as of November 17, 2006 with BB (“Liquidating Trust”), and Northern Trust, NA, a national association and its successors in interest and assigns (the “Escrow Agent”).
