Estate of Albert Strangi, Deceased, Rosalie Gulig, Independent Executrix - Page 11

                                       - 11 -                                         
               In the shareholders agreement, decedent and the Strangi                
          children agreed that at each annual meeting they would vote to              
          reelect themselves (or a nominee) as the five directors.  They              
          further agreed that, if a vacancy occurred on the board by reason           
          of the death, disability, resignation, retirement, or removal of            
          a director so elected, they would cause the bylaws to be amended            
          so as to reduce by one the number of directors.                             
               Thereafter, each of the four Strangi children gave a                   
          .25-percent interest in Stranco to McLennan Community College               
          Foundation (MCC Foundation), and the charity became a 1-percent             
          shareholder in the corporation.  MCC Foundation accepted the gift           
          by execution on August 18, 1994, of an agreement to be bound by             
          the terms of the preexisting shareholders agreement.                        
               Decedent died of cancer on October 14, 1994, at the age of             
          81.  Following decedent’s death, Texas Commerce Bank, N.A. (TCB),           
          successor in interest to Ameritrust, was asked to decline to                
          serve as coexecutor of his estate.  TCB subsequently did so, and            
          decedent’s will was admitted to probate on April 12, 1995, with             
          Mrs. Gulig appointed as the sole executor.                                  
               After its formation, various monetary outlays were made from           
          SFLP.  From September 1993 until his death, decedent required               
          24-hour home health care that was provided by Olsten Healthcare             
          (Olsten) and supplemented by Ms. Stone.  During this time and               
          while assisting decedent, Ms. Stone injured her back.  The                  






Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011