diff --git a/contrib/devtools/bitcoind-exit-on-log.sh b/contrib/devtools/bitcoind-exit-on-log.sh
index 340bd3a3f..1c651c8bb 100755
--- a/contrib/devtools/bitcoind-exit-on-log.sh
+++ b/contrib/devtools/bitcoind-exit-on-log.sh
@@ -1,139 +1,159 @@
 #!/usr/bin/env bash
 
 export LC_ALL=C
 
 set -euxo pipefail
 
+# Do not leave any dangling subprocesses when this script exits
+trap "kill 0" SIGINT
+
 TOPLEVEL=$(git rev-parse --show-toplevel)
 DEFAULT_BITCOIND="${TOPLEVEL}/build/src/bitcoind"
 DEFAULT_LOG_FILE=~/".bitcoin/debug.log"
 
 help_message() {
   set +x
   echo "Run bitcoind until a given log message is encountered, then kill bitcoind."
   echo ""
   echo "Example usages:"
   echo "$0 --grep 'progress=1.000000' --params \"-datadir=~/.bitcoin\" --callback mycallback"
   echo ""
   echo "Options:"
   echo "-h, --help            Display this help message."
   echo ""
   echo "-g, --grep            (required) The grep pattern to look for."
   echo ""
   echo "-c, --callback        (optional) Bash command to execute as a callback. This is useful for interacting with bitcoind before it is killed (to run tests, for example)."
   echo "-p, --params          (optional) Parameters to provide to bitcoind."
   echo ""
   echo "Environment Variables:"
   echo "BITCOIND              Default: ${DEFAULT_BITCOIND}"
   echo "LOG_FILE              Default: ${DEFAULT_LOG_FILE}"
   set -x
 }
 
 : "${BITCOIND:=${DEFAULT_BITCOIND}}"
 : "${LOG_FILE:=${DEFAULT_LOG_FILE}}"
 GREP_PATTERN=""
 CALLBACK=""
 BITCOIND_PARAMS=""
 
 # Parse command line arguments
 while [[ $# -gt 0 ]]; do
 case $1 in
   -h|--help)
     help_message
     exit 0
     ;;
 
   # Required params
   -g|--grep)
     GREP_PATTERN="$2"
     shift # shift past argument
     shift # shift past value
     ;;
 
   # Optional params
   -c|--callback)
     CALLBACK="$2"
     shift # shift past argument
     shift # shift past value
     ;;
   -p|--params)
     BITCOIND_PARAMS="$2"
     shift # shift past argument
     shift # shift past value
     ;;
 
   *)
     echo "Unknown argument: $1"
     help_message
     exit 1
     ;;
 esac
 done
 
 if [ -z "${GREP_PATTERN}" ]; then
   echo "Error: A grep pattern was not specified."
   echo ""
   help_message
-  exit 1
+  exit 2
 fi
 
 # Make sure the debug log exists so that tail does not fail
 touch "${LOG_FILE}"
 
 # Launch bitcoind using custom parameters
 read -a BITCOIND_PARAMS <<< "${BITCOIND_PARAMS}"
+
+BITCOIND_PID_FILE=/tmp/bitcoind-exit-on-log.pid
+# Make sure the PID file doesn't already exist for some reason
+rm -f "${BITCOIND_PID_FILE}"
+BITCOIND_PARAMS+=("-pid=${BITCOIND_PID_FILE}")
+BITCOIND_PARAMS+=("-daemon")
+
 START_TIME=$(date +%s)
-if [ "${#BITCOIND_PARAMS[@]}" -gt 0 ]; then
-  "${BITCOIND}" "${BITCOIND_PARAMS[@]}" &
-else
-  "${BITCOIND}" &
-fi
-BITCOIND_PID=$!
+"${BITCOIND}" "${BITCOIND_PARAMS[@]}"
+
+# The PID file will not exist immediately, so wait for it
+PID_WAIT_COUNT=0
+while [ ! -e "${BITCOIND_PID_FILE}" ]; do
+  ((PID_WAIT_COUNT+=1))
+  if [ "${PID_WAIT_COUNT}" -gt 10 ]; then
+    echo "Timed out waiting for bitcoind PID file"
+    exit 10
+  fi
+  sleep 0.5
+done
+BITCOIND_PID=$(cat "${BITCOIND_PID_FILE}")
 
 # Wait for log checking to finish and kill the daemon
 (
   # When this subshell finishes, kill bitcoind
   log_subshell_cleanup() {
     echo "Cleaning up bitcoin daemon (PID: ${BITCOIND_PID})."
     kill ${BITCOIND_PID}
   }
   trap "log_subshell_cleanup" EXIT
 
   (
     # Ignore the broken pipe when tail tries to write pipe closed by grep
     set +o pipefail
     tail -f "${LOG_FILE}" | grep -m 1 "${GREP_PATTERN}"
   )
 
   END_TIME=$(date +%s)
   RUNTIME=$((END_TIME - START_TIME))
   HUMAN_RUNTIME=$(eval "echo $(date -ud "@${RUNTIME}" "+\$((%s/3600)) hours, %M minutes, %S seconds")")
 
   echo "Grep pattern '${GREP_PATTERN}' found after ${HUMAN_RUNTIME}."
 
   # Optional callback for interacting with bitcoind before it's killed
   if [ -n "${CALLBACK}" ]; then
     "${CALLBACK}"
   fi
 ) &
 LOG_PID=$!
 
 # Wait for bitcoind to exit, whether it exited on its own or the log subshell finished
-wait ${BITCOIND_PID}
-BITCOIND_EXIT_CODE=$?
-
-if [ "${BITCOIND_EXIT_CODE}" -ne "0" ]; then
-  echo "bitcoind exited unexpectedly with code: ${BITCOIND_EXIT_CODE}"
-  exit ${BITCOIND_EXIT_CODE}
+set +x
+while [ -e "${BITCOIND_PID_FILE}" ]; do sleep 0.5; done
+set -x
+
+# If the log subshell is still running, then GREP_PATTERN was not found
+if [ -e /proc/${LOG_PID} ]; then
+  echo "bitcoind exited unexpectedly. See '${LOG_FILE}' for details."
+  exit 20
 fi
 
 # Get the exit code for the log subshell, which should have exited already
+# if GREP_PATTERN was found
 wait ${LOG_PID}
 LOG_EXIT_CODE=$?
 
 # The log subshell should only exit with a non-zero code if the callback
 # failed.
 if [ "${LOG_EXIT_CODE}" -ne "0" ]; then
   echo "Log subshell failed with code: ${LOG_EXIT_CODE}"
   exit ${LOG_EXIT_CODE}
 fi