ABC agreement

Definition

An agreement between a brokerage firm and an employee detailing the rights of the firm when it purchases an NYSE membership for the employee. It is believed to be known as an ABC agreement because the employee can: A) keep the seat if he/she leaves but must buy another seat for an individual named by the firm; B) sell the seat but return the proceeds to the firm; or C) transfer the seat to another employee of the firm.
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abatement abeyance