The Securities Exchange Commission decided that Bank of America is going to have to pay $33 million for failing to alert shareholders about bonus payments made to Merrill Lynch.

The SEC filed charges against BofA this morning for misleading its’ investors about paying billions of dollars in bonuses to top executives at Merrill Lynch, the brokerage giant they just purchased.

“Regulators alleged that the Charlotte, N.C.-based lender failed to disclose plans to give out $5.8 billion in bonuses for fiscal year 2008 in its proxy statement. Instead, Bank of America told shareholders that Merrill had agreed not to pay year-end performance bonuses, according to the SEC.”

“‘Failing to disclose that a struggling company will pay out billions of dollars in performance bonuses obviously violates that duty and warrants the significant financial penalty imposed by today’s settlement,’ Robert Khuzami, Director of the SEC’s division of enforcement, said in a statement.”

BofA agreed to settle without admitting to the charges.

Check out the original article: BofA to pay $33M fine over Merrill bonuses

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The online legal document provider, RealDealDocs.com has released a number of Promissory Notes for the top companies in America including many Fortune 500 companies. These are the actual legal documents drafted by the nation’s top law firms.

The Bank of America Promissory Note of December 2008 for $9 million dollars is supplemental to a distribution agreement filed in April 2008 and breaks the notes into fixed rate, and LIBOR notes. The Across America Financial Services Promissory Note entered in November 2008 sets the term of a senior secured convertible promissory note for $132,000 from West Mountain Prime. Both of these Promissory Notes are available in their entirety on the RealDealDocs.com website.

A Promissory Note is a legal document detailing the terms of an agreement by one party to pay a sum of money to the other. The obligation may arise from the repayment of a loan or from another form of debt.

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The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike.

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com, the first online practice guide for the national litigator and the national litigation practice.

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New York Supreme Court witnessed the filing of a law suit brought by Merrill Lynch - now merged with Bank of America, against Germany’s Deutsche Bank over stealing financial employees. The legal leg this case stands on is a violation of a non-compete agreement.

The Merrill Lynch financial employee in question failed to honor the time period stated in his non-compete agreement with the company when he left to accept employment with Deutsche Bank.

Many corporations include non-compete agreements with their employment agreements for just this reason. Within the current employment crisis, this legal document can be a deterrent as mergers, failings and changes of control are quite common in both large and small companies.

The non-compete agreements for many of the top companies and corporations making use of these legal documents can be found at the online legal document resource RealDealDocs.com website.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com.
SmartRules provides step by step guides to local rules and civil procedure for state courts & federal courts throughout the country.

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The Loan Agreement for Velocity Asset Management was made available today by online legal document provider RealDealDocs.com.

In November of 2008 Velocity Asset Management drafted a loan agreement with funding from Wells Fargo and asking Wells Fargo to modify the loan sub-account amortization schedule. Also in November 2008, AEP Industries Inc. and general Electric Capital Corporation entered a loan agreement with Bank of America and Wachovia Bank both acting as lenders to their respective entities. Both of these Loan Agreements are available in their entirety on the RealDealDocs.com website.

A Loan Agreement is a legal document containing pertinent terms, conditions, covenants and restrictions in relation to a loan between two parties.

RealDealDocs.com is the online legal document resource preferred by lawyers, deal professionals and entrepreneurs. The powerful search functionality is easy to use which is just one of the reasons 40 of the top 200 law firms in the world use it.

The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike.

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com, the first online practice guide for the national litigator and the national litigation practice.

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The Intercreditor Agreement involving Bank of America was made available today by online legal document provider RealDealDocs.com.

The Bank of America Intercreditor Agreement was drafted in October of 2008 and named Bank of America as the bank agent, Bank of New York Mellon Trust as trustee and collateral agent for the note holder Morgan’s Welding Inc., a subsidiary of NeeNah Enterprises. Another intercreditor agreement drafted in October is the Execute Sports Inc. Intercreditor Agreement regarding increasing the security for the company’s senior debt.
Both of these Intercreditor Agreements are available in their entirety on the RealDealDocs.com website.

An Intercreditor Agreement is a legal document to prevent a borrower from securing additional financing on a property financed by the original lender.

RealDealDocs.com is the online legal document resource preferred by lawyers, deal professionals and entrepreneurs. The powerful search functionality is easy to use which is just one of the reasons 40 of the top 200 law firms in the world use it.

The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike.

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com, the first online practice guide for the national litigator and the national litigation practice.

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The online legal document provider, RealDealDocs.com has released a number of Agency Agreements for the top companies in America including many Fortune 500 companies. These are the actual legal documents drafted by the nation’s top law firms.

In July of 2008, Bank of America drafted an agency agreement with the Bank of New York Mellon regarding a $65 billion dollar Euro medium-term note program. The Bank of New York Mellon then turned around an entered an agency agreement with PepsiCo Inc. in August of the same year for a $2.5 billion dollar Euro medium-term note program. Both of these Agency Agreements are available in their entirety on the RealDealDocs.com website.

An Agency Agreement is a legal document creating a fiduciary relationship whereby the first party (”the principal”) agrees that the actions of a second party (”the agent”) binds the principal to later agreements made by the agent as if the principal had himself personally made the later agreements.

RealDealDocs.com is the online legal document resource preferred by lawyers, deal professionals and entrepreneurs. The powerful search functionality is easy to use which is just one of the reasons 40 of the top 200 law firms in the world use it.

The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike.

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com, the first online practice guide for the national litigator and the national litigation practice.

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The online legal document provider, RealDealDocs.com has released a number of Default Notices and Forbearance Agreements for the top companies in America including many Fortune 500 companies. These are the actual legal documents drafted by the nation’s top law firms.

The Wells Fargo Bank forbearance agreement with US Bank National Association and Westaff Inc, drafted in August of 2008, was one of many in this failing economy. In this forbearance agreement the terms of credit, default and guaranty are discussed. A similar forbearance agreement was drafted by Bank of America with USA Direct and a number of Vertis subsidiaries. Both of these Default Notice and Forbearance Agreements are available in their entirety on the RealDealDocs.com website.

A Default Notice and Forbearance Agreement is a legal document specifying rights granted by one party to another. It specifies rules under which the company can operate.

RealDealDocs.com is the online legal document resource preferred by lawyers, deal professionals and entrepreneurs. The powerful search functionality is easy to use which is just one of the reasons 40 of the top 200 law firms in the world use it.

The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike.

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com, the first online practice guide for the national litigator and the national litigation practice.

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Inside Washington Mutual and Bank of America Purchase Agreements

The online legal document provider, RealDealDocs.com has released a number of Purchase Agreements for the top companies in America including many Fortune 500 companies. These are the actual legal documents drafted by the nation’s top law firms.

In 2006, just at the cusp of the mortgage loan crisis in America, Washington Mutual drafted a purchase agreement with Bank of America. The agreement allowed for Bank of America to purchase a number of first lien mortgage loans from Washington Mutual. Similarly, thay same year Bank of America entered into a purchase agreement with BAS Securitization LLC in which the company would purchase a number of motor vehicle retail installment loans from Bank of America. Both of these Purchase Agreements are available on the RealDealDocs.com website.

A Purchase Agreement is a legal document in which a seller agrees to sell and a buyer agrees to buy within specific terms and conditions.

RealDealDocs.com is the online legal document resource preferred by lawyers, deal professionals and entrepreneurs. The powerful search functionality is easy to use which is just one of the reasons 40 of the top 200 law firms in the world use it.

The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike.

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com, the first online practice guide for the national litigator and the national litigation practice.

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Inside the Merrill Lynch Stock Purchase Agreement

The online legal document provider, RealDealDocs.com has released a number of Stock Purchase Agreements for the top companies in America including many Fortune 500 companies. These are the actual legal documents drafted by the nation’s top law firms.

Earlier this year, Merrill Lynch entered a stock purchase agreement with American Oriental Bioengineering Inc. in which the company opted to purchase over 3 million shares of Merrill Lynch common stock. Merrill Lynch was recently bailed out by Bank of America causing a wave of concern on Wall Street. The entire execution copy of the Merrill Lynch stock purchase agreement is available on the RealDealDocs.com website.

A Stock Purchase Agreement is a legal document to transfer ownership of stocks from the seller to the purchaser. The key provisions of a stock purchase agreement have to do with the transaction itself, such as the date of the transaction, the number of stock certificates, and the price per share. In addition, the agreement should specify the name of the corporation whose stock is being sold in the transaction.

RealDealDocs.com is the online legal document resource preferred by lawyers, deal professionals and entrepreneurs. The powerful search functionality is easy to use which is just one of the reasons 40 of the top 200 law firms in the world use it.

The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike.

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com, the first online practice guide for the national litigator and the national litigation practice.

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Inside the Merrill Lynch Stock Purchase Agreement

The online legal document provider, RealDealDocs.com has released a number of Agreements and Plan of Mergers for the top companies in America including many Fortune 500 companies. These are the actual legal documents drafted by the nation’s top law firms.

In News of the Bank of America bail out of Merrill Lynch, and the failing of Lehman Brothers are widely known as of this week. As concern for the security of America’s financial Institutions rises, RealDealDocs.com offers a look at a number of mergers and acquisitions. The entire execution copy of the Bank of America Agreement and Plan of Merger is available on the RealDealDocs.com website.

An Agreement and Plan of Merger is a legal document outlining the terms and conditions of the merger or acquisition of a company.

RealDealDocs.com is the online legal document resource preferred by lawyers, deal professionals and entrepreneurs. The powerful search functionality is easy to use which is just one of the reasons 40 of the top 200 law firms in the world use it.

The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike.

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com, the first online practice guide for the national litigator and the national litigation practice.

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