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Exhibit
99.1
ASSIGNMENT,
ASSUMPTION AND AMENDMENT AGREEMENT
by and
among
JPMORGAN CHASE
& CO.,
THE BEAR
STEARNS COMPANIES INC.,
and
MELLON
INVESTOR SERVICES LLC, as Depositary
TABLE OF
CONTENTS
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Page
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| ARTICLE 1
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ASSIGNMENT AND
ASSUMPTION....................................................................................................
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2
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Section 1.1
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Assignment............................................................................................................
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2
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Section 1.2
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Assumption............................................................................................................
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2
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| ARTICLE 2
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AMENDMENTS......................................................................................................................................
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2
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Section 2.1
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New Deposited
Securities......................................................................................
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2
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Section 2.2
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Certain
Amendments..............................................................................................
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2
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Section 2.3
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No Further
Amendment.........................................................................................
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3
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| ARTICLE 3
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CONDITIONS.........................................................................................................................................
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3
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Section 3.1
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Conditions to the
Assignment, Assumption and |
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Amendment............................................................................................................
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3
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| ARTICLE 4
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TERMINATION....................................................................................................................................... |
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3
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Section 4.1
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Termination.............................................................................................................
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3
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Section 4.2
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Effect of
Termination...............................................................................................
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3
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| ARTICLE 5
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GENERAL
PROVISIONS........................................................................................................................
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4
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Section 5.1
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Successors; Binding
Effect;
Benefit..........................................................................
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4
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Section 5.2
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Entire
Agreement....................................................................................................
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4
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Section 5.3
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Governing
Law.......................................................................................................
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4
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Section 5.4
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Counterparts.......................................................................................................... |
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4
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Section 5.5
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Headings................................................................................................................
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4
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Section 5.6
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Severability............................................................................................................. |
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4
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-i-
AGREEMENT
THIS
ASSIGNMENT, ASSUMPTION AND AMENDMENT AGREEMENT (this
“Agreement”) dated as of June 25, 2008 is by and among
JPMorgan Chase & Co., a Delaware corporation
(“Parent”), The Bear Stearns Companies Inc., a Delaware
corporation and direct subsidiary of Parent (the
“Company”) and Mellon Investor Services LLC, a limited
liability company existing under the laws of the state of New
Jersey, as Depositary (the “Depositary”).
RECITALS
WHEREAS
, the
Company currently has three series of preferred stock issued and
outstanding, consisting of the (x) 6.15% Cumulative Preferred
Stock, Series E, par value $1.00 per share (the “Bear Stearns
Series E”), (y) 5.72% Cumulative Preferred Stock, Series F,
par value $1.00 per share (the “Bear Stearns Series
F”), and (z) 5.49% Cumulative Preferred Stock, Series G, par
value $1.00 per share (the “Bear Stearns Series G” and
together with the Bear Stearns Series E and the Bear Stearns Series
F, the “Preferred Stock”); and
WHEREAS
, the
Company has previously executed the following deposit agreements,
which agreements remain in full force and effect: (1) Deposit
Agreement, dated as of January 15, 1998, between Bear Stearns,
Chase Mellon Shareholder Services L.L.C., as depositary, and the
holders from time to time of depositary receipts (relating to the
Bear Stearns Series E preferred stock), (2) Deposit Agreement,
dated as of April 21, 1998, between Bear Stearns, Chase Mellon
Shareholder Services L.L.C., as depositary, and the holders from
time to time of depositary receipts (relating to the Bear Stearns
Series F preferred stock) and (3) Deposit Agreement, dated as of
June 19, 1998, between Bear Stearns, Chase Mellon Shareholder
Services L.L.C., as depositary, and the holders from time to time
of depositary receipts (relating to the Bear Stearns Series G
preferred stock) (collectively, the “Deposit
Agreements”); and
WHEREAS
, the
Depositary is the successor depositary to Chase Mellon Shareholder
Services L.L.C., a limited liability company existing under the
laws of the State of New Jersey; and
WHEREAS
, on
June 4, 2008, Parent, the Company and BSC Merger Corporation II, a
Delaware corporation and wholly owned subsidiary of Parent
(“Merger Sub”) executed an Agreement and Plan of
Merger, pursuant to which, at t
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