VERTICAL COMPUTER SYSTEMS INC 5
5 · VERTICAL COMPUTER SYSTEMS INC · Filed May 16, 2008
Insider Transaction Report
Form 5
WADE RICHARD S
DirectorPresident/CEO
Transactions
- Other
Common Stock
2007-04-24−10,000,000→ 98,590,206 total
Footnotes (1)
- [F1]Mountain Reservoir Corporation ("MRC") is controlled by the W5 Family Trust. Richard Wade, the President and CEO of Vertical Computer Systems, Inc. (the "Company"), is the trustee of the W5 Family Trust. On April 23, 2007, the Company and MRC entered into an indemnity and reimbursement agreement for the transfer and pledges of shares of the Company's common stock to meet the Company's obligations concerning common stock of the Company. In connection with the loan of 10,000,000 shares by MRC, the Company agreed to reimburse MRC with up to 10,000,000 shares of the Company's common stock within one year of transfer and to pay MRC for all costs associated with such transfer.