- Current report filing (8-K)
22 1월 2010 - 6:02AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): January 18, 2010
GAINSCO, INC.
(Exact Name of Registrant as
Specified in Charter)
|
|
|
|
|
Texas
|
|
001-09828
|
|
75-1617013
|
(State or Other Jurisdiction
of Incorporation)
|
|
(Commission
File Number)
|
|
(IRS Employer
Identification No.)
|
|
|
|
3333 Lee Parkway, Suite 1200, Dallas, Texas
|
|
75219
|
(Address of Principal Executive Offices)
|
|
(Zip Code)
|
Registrants telephone number, including area code: (972) 629-4400
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (
see
General Instruction A.2. below):
¨
|
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
¨
|
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
¨
|
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
¨
|
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Section 1Registrants Business and Operations
Item 1.01.
|
Entry into a Material Definitive Agreement.
|
On January 18, 2010, the Corporate Governance Committee of the Board of Directors of GAINSCO, INC. (the Company) authorized the Company to enter into a Sponsorship Agreement with
Stallings Capital Group Consultants, Ltd. dba Bob Stallings Racing (Stallings Racing), to continue the Companys role as the primary sponsor of a Daytona Prototype Series racing team through December 31, 2010. The Sponsorship
Agreement provides that, in consideration of the payment by the Company of a sponsorship fee of $750,000, the Company will receive various benefits customary for sponsors of Daytona Prototype Series racing teams, including rights relating to signage
on team equipment and access for customers and agents to race facilities at which the racing team participates. The fee is payable in an initial installment of $350,000 due on February 1, 2010 and ten equal monthly installments of $40,000
beginning March 1, 2010.
The Company uses this sponsorship to build brand awareness and advance the Companys
distribution strategies. The new Sponsorship Agreement is effective January 1, 2010 and replaces a similar agreement that was effective through December 31, 2009.
Stallings Racing is owned and controlled by Robert W. Stallings, the Executive Chairman of the Company. The Corporate Governance Committee
is composed of three independent directors of the Company and is empowered to review and approve or disapprove, or impose conditions on, any transaction or series of transactions involving the Company and any related party. Mr. Stallings did
not participate in the deliberations regarding the Sponsorship Agreement.
In authorizing the agreement, the Corporate
Governance Committee considered Mr. Stallings role and concluded that, under the circumstances, the Sponsorship Agreement is fair to, and in the best interests of, the Company. The Sponsorship Agreement contains provisions protecting the
Companys interests, including a termination provision that permits the Company unilaterally to terminate the agreement at any time and thereby cease making installment payments of the sponsorship fee.
A copy of the Sponsorship Agreement is attached hereto as Exhibit 10.41. The foregoing description of such document is only a summary and is
qualified in the entirety by the full text of the agreement, which is incorporated by reference herein.
2
Section 9Financial Statements and Exhibits
Item 9.01.
|
Financial Statements and Exhibits.
|
|
|
|
Exhibit
Number
|
|
Description of Exhibit
|
|
|
10.41
|
|
Sponsorship Agreement effective January 1, 2010, by and between Stallings Capital Group Consultants, Ltd. and GAINSCO, INC. (1)
|
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
GAINSCO, INC.
|
|
/
S
/ G
LENN
W.
A
NDERSON
|
Glenn W. Anderson,
|
President and Chief Executive Officer
|
DATED: January 21, 2010
4
EXHIBIT INDEX
|
|
|
Exhibit
No.
|
|
Exhibit
|
|
|
10.41
|
|
Sponsorship Agreement effective January 1, 2010, by and between Stallings Capital Group Consultants, Ltd. and GAINSCO, INC. (1)
|
Gainsco, (AMEX:GAN)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Gainsco, (AMEX:GAN)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024