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Form 1099-MISC for McKinney Texas: What You Should Know
Awarding Trust (“Trustee”) has been executed by MCKINNEY, TX 76024, on the “June 27, 2017, in accordance with Texas Business Entities Act. MCKINNEY, TX 76024 hereby grants, transfers, sells, waives and cancels the following interests in the MCKINNEY ECONOMIC Awarding Trust (“Trustee”) (hereinafter referred to as “Trustee”), for the period from and including the date of this Agreement: (a) a total of: (i) “1,500,000 (1,500,000) shares of the BankAmericard common stock” for each date of birth in 2017; (ii) each of the following: (A) 7,500 shares of the BankAmericard common stock to be issued upon the Company's sale to a non-US Bank affiliate; and (B) 100,000 shares of the BankAmericard common stock to be transferred to an affiliate of Bank of America under a trust arrangement, a US Bank affiliate or other non-US Bank affiliate; (iii) “4,000 shares of the BankAmericard common stock” (i) to be redeemed at a price equal to 6.00 per share on or about a date to be jointly and severally determined up to a date no later than 12 months from the date of this Agreement (or, if earlier, 12 months from the date of a determination that the Company is insolvent), assuming the Company does not satisfy the conditions of Section 6.2(i)(C); and (ii) to be sold in a private offering (whether public or private) to a non-US Bank affiliate at a price equal to 6.00 per share on or about a date to be jointly and severally determined up to a date no later than 12 months from the date of this Agreement (or, if earlier, 12 months from the date of a determination that the Company is insolvent). Each of the foregoing interests (except the first interest) must be cancelled within 60 days of grant, subject to a right to redeem for the amount of the grant if it is registered in the United States. “Shares” means any share of the Company's common stock, par value 0.01 per share. The rights and restrictions of Trustee are available in the applicable prospectus supplement.
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