Are you a software developer looking for affordable contracts and forms for your business? Create Software Escrow Agreements with this template for use in Canada. This Agreement is between three parties - a developer, a licensee and a party being appointed as escrow agent, to hold the source code in escrow for the duration of a license agreement between the developer and the licensee. The Agreement allows the licensee conditional access to the source code as part of its business, and allows the developer access to continue its ongoing support. Provisions include:

• The developer will update the materials in escrow after each upgrade or new release of the software.
  
• The escrow agent has the right to terminate the agreement and destroy the escrow materials if its fees are not paid within 30 days of coming due.
  
• The developer and the licensee jointly indemnify the escrow agent against claims or damages arising from the agreement.
  
• The licensee can request that the source code be released if the developer is in breach of its obligations under the license agreement.

This is a Canadian legal document in MS Word format, and is fully editable to fit your specific circumstances.