Iron Mountain Escrow Services are different from other providers in the industry because of our customer-driven approach to technology escrow. With Iron Mountain, the customer’s experience is focused on defining his or her own unique needs for a comprehensive service—not on studying and struggling to comprehend the terms, options and add-ons of a variety of pre-packaged agreements. The choices the customer makes drive the generation of either a two-party agreement (to be signed by the depositor and Iron Mountain) or a three-party escrow agreement (signed by the depositor, beneficiary and Iron Mountain), tailored to their specific needs.

The benefit of this approach is that it can adapt to meet the needs of a single customer or application today as well as future ones with requirements that may be quite different. The service can include as much—or as little—as each situation requires, without a complicated menu of add-ons and additional charges. With Iron Mountain, one set of comprehensive escrow services with elective components suited for every situation covers all the key issues for technology escrow.

Key Elective Components of Iron Mountain’s Comprehensive Escrow Services

Opening and Managing an Escrow Account

• Iron Mountain’s escrow accounts include a minimum of one depositor and one complete set of deposit material. All deposit material is securely stored in controlled vaults that are owned and/or operated by Iron Mountain.
• For each escrow account, a Client Manager is assigned to answer questions, provide client training, and to facilitate secure Internet access to escrow accounts. Assigned Client Managers also ensure timely fulfillment of requests for such things as deposit updates and new beneficiary enrollments.
• Clients can make unlimited updates to deposit materials during the term of their Escrow Service Agreement for no additional charge.
• Deposit materials can be supplied through electronic vaulting at no additional charge. This ensures transfer integrity, encrypts content, assures authenticity, and saves time and money.
• Access to Iron Mountain Connect™ Escrow Management Center for secure online account management and submission of electronic work requests is included at no additional charge.
• Additional auxiliary deposit accounts which are opened in accordance with the agreement that governs the initial deposit account can be added for an additional charge.

Deposit Update Notification
Iron Mountain will send periodic notices to depositors and/or beneficiaries related to deposit material as specified within the terms of the agreement.

Adding Beneficiaries
Iron Mountain will fulfill a request to add a beneficiary to an escrow account, and provide notice as appropriate to all relevant parties based on the terms of the agreement.

Verifying Deposit Materials
Customers can choose the level of verification services that best suits their needs. Final reports are provided to ensure consistency between depositor’s representations and stored deposit material.

Dual Vaulting
Iron Mountain will store deposit materials in one additional location as defined within the Service Agreement. Duplicate storage requests may be in the form of either physical media or electronic storage.

Release Deposit
If release conditions are met and a release is requested, Iron Mountain will release the deposit materials stored in the escrow account following the procedure defined and agreed to by all parties of the agreement.

Request Custom Services
Iron Mountain will provide its consulting services (e.g., licensing escrow strategy development, account consolidation) based on a custom statement of work mutually agreed to by all parties.

Delete Account
Iron Mountain will terminate an existing escrow account by providing notice to all parties to the agreement, removing deposit material from the vault, and then either securely destroying (with certificate) or returning the deposit material via commercial express mail carrier as instructed.

Replace or Delete Deposit Materials
Iron Mountain will replace or delete a previous deposit if there are multiple deposits within an existing escrow account and will either destroy or return the deposit material via commercial express mail carrier as instructed.