UMB Financial Corp. unit Scout Investment Advisors Inc. paid initial cash payment of $44.7 million and will pay certain future payments to acquire Reams Asset Management Co. LLC. Reams will also be entitled to receive $1 million worth of unregistered common stock of UMB if at least ninety-five percent of the revenue of Reams is retained by Scout on the determination date. On November 30, 2010, the purchase agreement was amended where Reams will be entitled to receive a $1 million cash payment instead of unregistered common stock of UMB. Additional earn-out payments could also be paid by UMB based on Reams' revenue and pre-tax income during the next five years. This earn-out liability was $21.4 million at December 31, 2012.