ESOP LOAN AGREEMENT by and between THE TRUSTEES OF THE ESPEY MFG. & ELECTRONICS CORP. EMPLOYEE RETIREMENT PLAN TRUST and ESPEY MFG. & ELECTRONICS CORP. Made and Entered Into as of December 1, 2020Esop Loan Agreement • December 3rd, 2020 • Espey MFG & Electronics Corp • Electronic components, nec • New York
This ESOP LOAN AGREEMENT (“ESOP Loan Agreement”) is made and entered into as of the 1st day of December, 2020 by and between the ESPEY MFG. & ELECTRONICS CORP. EMPLOYEE RETIREMENT PLAN TRUST (“Borrower”), a trust forming part of the ESPEY MFG. & ELECTRONICS CORP. EMPLOYEE RETIREMENT PLAN (“ESOP”), acting through and by its Trustees, PEG MURPHY and HOWARD PINSLEY (collectively, the “Trustee”), acting solely as trustees with an address at 233 Ballston Avenue, Saratoga Springs, NY 12866; and ESPEY MFG. & ELECTRONICS CORP. (“Lender”), a corporation existing under the laws of the State of New York with its principal place of business at 233 Ballston Avenue, Saratoga Springs, NY 12866 (“Company”).
STOCK PURCHASE AGREEMENTStock Purchase Agreement • December 3rd, 2020 • Espey MFG & Electronics Corp • Electronic components, nec • New York
AGREEMENT made as of the date last written by and among Espey Mfg. & Electronics Corp., a New York corporation (the “Seller”) and the trustee(s) not in their individual capacity, but solely as trustees (the “Trustees”) of the Espey Mfg. & Electronics Corp. Employee Retirement Plan Trust (the “Purchaser”), a trust established pursuant to the Espey Mfg. & Electronics Corp. Employee Retirement Plan (the “Plan” or “ESOP), which is an Employee Stock Ownership Plan within the meaning of Section 4975(e)(7) of the Internal Revenue Code of 1986, as amended (the “Code”).
