Evan owns retractable preferred shares of Ingram Corp.

Gives Evan the option to convert the Ingram Corp preferred shares into a fixed number of common shares at a predetermined price within a specified period.

Offers Evan the opportunity to receive additional dividends if Ingram Corp's profit exceeds a stated level.

Entitles Evan to sell the shares back to Ingram Corp at a pre-determined price and time in the future.

Allows Ingram Corp to buy back the preferred shares at a pre-determined price within a defined period.