- 9 - into an agreement (1993 global agreement), effective as of August 1, 1993, which provided in pertinent part: THIS AGREEMENT, made as of and effective this 1st day of August, 1993, by and between FRANCES B. HAVENS (“Havens”), and OSCAR M. BARBER (“Barber”), and DELA- WARE CORPORATION (“DC”), STATEMENTS: A. Barber is 100% owner of all of the stock of DC. B. Havens is the owner of property known as 1316 Harris Road, Virginia Beach, Virginia, (the “Vir- ginia Beach property) and 185 acres, Reedy Church District, Caroline County, Virginia (the “Caroline County property”). C. Havens and Barber are the owners of Marion-Booker, a Virginia limited liability company, which owns a lot with improvements thereon at Chick Cove Manor, Middlesex County, Virginia. D. Barber has and/or is asserting an ownership inter- est in property on Mitchum’s Creek in Middlesex County, Virginia. E. Havens is a 60% owner of Management Systems Appli- cations, Inc., a Virginia corporation. F. Havens owns a 30% interest in MSA-Kuwait, LLC [MSA-Kuwait] a Virginia limited liability company and DC owns a 30% interest in MSA-Kuwait, LLC. G. The parties have agreed and desire that the Caro- line County property, the Virginia Beach property, the interest in MSA-Kuwait owned by Havens and the Mitchum Creek property, and the Marion-Booker property be transferred to DC, for DC to enter into a management contract with Management Sys- tems Applications, Inc. (“MSA”) and for Havens to acquire a stock ownership in DC as set forth be- low: WITNESSETH: NOW, THEREFORE IN CONSIDERATION of $10.00 cash inPage: 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