diff --git a/waitress/server.py b/waitress/server.py
index 307c377b..63cd3b31 100644
--- a/waitress/server.py
+++ b/waitress/server.py
@@ -14,6 +14,7 @@
 
 import os
 import os.path
+import signal
 import socket
 import time
 
@@ -148,7 +149,11 @@ def print_listen(self, format_str): # pragma: nocover
 
             print(format_str.format(*l))
 
+    def handle_sigterm(self, signum, frame):
+        raise SystemExit
+
     def run(self):
+        signal.signal(signal.SIGTERM, self.handle_sigterm)
         try:
             self.asyncore.loop(
                 timeout=self.adj.asyncore_loop_timeout,
@@ -315,7 +320,11 @@ def handle_accept(self):
         addr = self.fix_addr(addr)
         self.channel_class(self, conn, addr, self.adj, map=self._map)
 
+    def handle_sigterm(self, signum, frame):
+        raise SystemExit
+
     def run(self):
+        signal.signal(signal.SIGTERM, self.handle_sigterm)
         try:
             self.asyncore.loop(
                 timeout=self.adj.asyncore_loop_timeout,
diff --git a/waitress/tests/test_server.py b/waitress/tests/test_server.py
index 7cd63452..381ac25c 100644
--- a/waitress/tests/test_server.py
+++ b/waitress/tests/test_server.py
@@ -1,5 +1,9 @@
 import errno
+import os
+import signal
 import socket
+import threading
+import time
 import unittest
 
 dummy_app = object()
@@ -127,6 +131,25 @@ def test_run(self):
         inst.run()
         self.assertTrue(inst.task_dispatcher.was_shutdown)
 
+    def test_sigterm_exits_gracefully(self):
+        inst = self._makeOneWithMap(_start=False)
+        inst.asyncore = DummyBlockingAsyncore()
+        inst.task_dispatcher = DummyTaskDispatcher()
+
+        pid = os.getpid()
+
+        def trigger_signal():
+            time.sleep(1)
+            os.kill(pid, signal.SIGTERM)
+
+        thread = threading.Thread(target=trigger_signal)
+        thread.daemon = True
+        thread.start()
+
+        inst.run()
+
+        self.assertTrue(inst.task_dispatcher.was_shutdown)
+
     def test_run_base_server(self):
         inst = self._makeOneWithMulti(_start=False)
         inst.asyncore = DummyAsyncore()
@@ -465,6 +488,11 @@ class DummyAsyncore(object):
     def loop(self, timeout=30.0, use_poll=False, map=None, count=None):
         raise SystemExit
 
+class DummyBlockingAsyncore(object):
+    def loop(self, timeout=30.0, use_poll=False, map=None, count=None):
+        while True:
+            pass
+
 class DummyTrigger(object):
 
     def pull_trigger(self):