Herbert L. Whitehead and Jennifer L. Whitehead - Page 13




                                       - 13 -                                         

                               SHAREHOLDER               SHARES                       
                               Don Johnston[2]     61,200                             
                               Herbert Whitehead   47,040                             
                               Patrick Watson      5,880                              
                                                   --------                           
                               Total               114,120                            
                                                   ========                           
               1At a time not disclosed by the record, Mr. Buchner was involved in an 
          employment dispute with Burien Nissan.  That dispute was resolved on or about
          Jan. 10, 1994.  Pursuant to the resolution of the employment dispute between
          Mr. Buchner and Burien Nissan, on or about Jan. 12, 1994, Burien Nissan     
          redeemed Mr. Buchner’s 5,880 shares of Burien Nissan stock for $10,217.     
               2Although not altogether clear from the record, it appears that Jacque 
          Johnston’s ownership interest in the 61,200 remaining Johnston shares was   
          transferred to Mr. Johnston on a date not disclosed by the record.          
               The addendum to the May 25, 1990 stock purchase agreement              
          further provided, inter alia, that Burien Nissan was to redeem              
          the 61,200 remaining Johnston shares for $434,677 and that Burien           
          Nissan was to make that payment, as well as certain other pay-              
          ments, on January 3, 1994.  Pursuant to that addendum, on January           
          12, 1994, Burien Nissan canceled Mr. Buchner’s 5,880 shares of              
          stock as well as the 61,200 remaining Johnston shares.                      
               As a result of the addendum to the May 25, 1990 stock                  
          purchase agreement, as of January 12, 1994, the ownership of                
          Burien Nissan stock was as follows:                                         
                        Stockholder    Number of Shares Owned                         
                       Mr. Whitehead         47,040                                   
                       Mr. Watson     5,880                                           
               On April 11, 1995, Burien Nissan began making monthly                  
          payments to Mr. Stanford in the amount of $2,000, which monthly             
          payments continued until at least September 1999.                           






Page:  Previous  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  Next

Last modified: May 25, 2011