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Agreement and Plan of Merger
Agreement and Plan of Merger (247K)
Doc #115023: Click preview link for longer preview.
AGREEMENT AND PLAN OF MERGER
BY AND AMONG
GENERAL BANK
GBC BANCORP
AND
CATHAY BANK
CATHAY BANCORP, INC.
DATED AS OF
MAY 6, 2003
{PAGE}
AGREEMENT AND PLAN OF MERGER
THIS AGREEMENT AND PLAN OF MERGER (this "AGREEMENT"), dated as of May 6,
2003, is by and among General Bank, a California banking corporation ("GENERAL
BANK"), GBC Bancorp, a California corporation and the sole shareholder of
General Bank ("GBC"), Cathay Bank, a California banking corporation ("CATHAY
BANK"), and Cathay Bancorp, Inc., a Delaware corporation and the sole
shareholder of Cathay Bank ("CATHAY BANCORP"). Capitalized terms not otherwise
defined in this Agreement are defined in EXHIBIT A to this Agreement.
A. General Bank and Cathay Bank wish to provide for the terms and
conditions of a business combination in which General Bank will be merged (the
"BANK MERGER") with and into Cathay Bank with Cathay Bank as the surviving
entity.
B. Simultaneously with the Bank Merger, GBC and Cathay Bancorp wish to
provide for the terms and conditions of a business combination in which GBC will
be merged (the "MERGER") with and into Cathay Bancorp with Cathay Bancorp as the
surviving entity under the name "Cathay General Bancorp."
C. For federal income tax purposes, it is intended that the Merger shall
qualify as a "reorganization" within the meaning of Section 368(a) of the
Internal Revenue Code of 1986, as amended (the "CODE"), and, with respect to the
Merger, this Agreement shall constitute a plan of reorganization pursuant to
Section 368 of the Code.
D. The parties hereto desire to make certain representations, warranties,
covenants and agreements in connection with the Bank Merger and the Merger and
also to prescribe various conditions to the Bank Merger and the Merger.
E. The respective Boards of Directors of the parties hereto have each
approved this Agreement, the Bank Merger and the Merger and determined that the
Bank Merger and the Merger are advisable and in the best interests of their
respective shareholders.
F. Concurrently with the execution of this Agreement, certain directors of
GBC have entered into an agreement with Cathay Bancorp to vote their shares in
favor of the transactions contemplated by this Agreement in the form attached
hereto as EXHIBIT B (the "VOTING AGREEMENTS"), an affiliate agreement with
Cathay Bancorp in the form attached hereto as EXHIBIT C (the "AFFILIATE
AGREEMENTS") and a nonsolicitation agreement with Cathay Bancorp in the form
attached hereto as EXHIBIT D.
Accordingly, and in consideration of the representations, warranties,
covenants, agreements and conditions herein contained, the parties hereto agree
as follows:
{PAGE}
ARTICLE I
THE MERGER AND RELATED MATTERS
1.1 BANK MERGER; SURVIVING ENTITY.
(a) THE BANK MERGER. Subject to the terms and conditions of this
Agreement, and pursuant to the provisions of the California General Corporation
Law (the "CGCL") and the California Financial Code (the "CFC") and the rules and
regulations promulgated by the California Department of Financial Institutions
(the "DFI"), at the Effective Time (as defined in Section 1.3(a) hereof),
General Bank shall be merged with and into Cathay Bank pursuant to the terms and
conditions set forth herein.
(b) SURVIVING BANK. Upon consummation of the Bank Merger, the separate
corporate existence of General Bank shall cease, and Cathay Bank shall continue
as the surviving entity under the laws of the State of California. The name of
Cathay Bank as the surviving entity of the Bank Merger shall remain "Cathay
Bank." From and after the Effective Time, Cathay Bank, as the surviving entity
of the Bank Merger, shall possess all of the properties and rights and be
subject to all of the liabilities and obligations of Cathay Bank and General
Bank, all as more fully described in the CGCL and the CFC.
(c) ARTICLES OF INCORPORATION AND BYLAWS OF THE SURVIVING BANK. The
articles of incorporation and bylaws of Cathay Bank, as in effect immediately
prior to the Effective Time, shall be the articles of incorporation and bylaws
of Cathay Bank, as the surviving corporation of the Bank Merger, until either is
thereafter amended in accordance with applicable law.
(d) DIRECTORS OF THE SURVIVING BANK. The directors of Cathay Bank
immediately prior to the Effective Time shall be the directors of Cathay Bank,
as the surviving corporation of the Bank Merger; provided, that the Chairman,
President and Chief Executive Officer of General Bank and two other directors of
General Bank or GBC designated by Cathay Bank (each, a "CONTINUING DIRECTOR")
shall, at the Effective Time, also be appointed to serve as directors of Cathay
Bank, as the surviving corporation of the Bank Merger, from and after the
Effective Time and until the earlier of their death, resignation or removal, or
until their respective successors shall be duly elected and qualified; provided
further, that the Chairman, President and Chief Executive Officer of General
Bank shall be appointed as Executive Vice Chairman of Cathay Bank's Board of
Directors. After the Effective Time until the next annual meeting of
shareholders, in the event that a Continuing Director shall resign, be removed
or no longer be able to serve (for whatever reason), then the Board of Directors
of Cathay Bank shall fill such vacancy by either electing a member of the Board
of Directors of General Bank or GBC immediately prior to the Effective Time or,
if appropriate, shall nominate such person for election as a director by Cathay
General Bancorp (as the sole shareholder of Cathay Bank), and Cathay General
Bancorp shall vote its shares of Cathay Bank to elect the nominee to fill such
vacancy.
(e) OFFICERS OF THE SURVIVING BANK. The officers of Cathay Bank
immediately prior to the Effective Time shall be the officers of Cathay Bank, as
the surviving corporation of the Bank Merger, until their successors shall have
been duly elected or appointed
2
{PAGE}
and qualified or until their earlier death, resignation or removal; provided,
that the Chairman, President and Chief Executive Officer of General Bank shall
be appointed as the Executive Vice Chairman and Chief Operating Officer of
Cathay Bank at the Effective Time and shall report to the Chairman and
President/CEO of Cathay Bank from and after the Effective Time; provided
further, that an Office of the President/CEO shall be established from and after
the Effective Time, which shall be occupied by two members, the Executive Vice
Chairman and Chief Operating Officer of Cathay Bank and the Chairman and
President/CEO of Cathay Bank; provided further that, subject to approval of the
Board of Directors of Cathay Bank, such other General Bank executives as are
nominated by the Office of the President/CEO shall be appointed to executive
positions of Cathay Bank.
(f) PRINCIPAL OFFICE OF THE SURVIVING BANK. The location of the
principal office of Cathay Bank, as the surviving corporation of the Bank
Merger, shall be 777 North Broadway, Los Angeles, California 90012.
1.2 MERGER; EFFECTS OF THE MERGER.
(a) THE MERGER. Subject to the terms and conditions of this Agreement,
in accordance with the Delaware General Corporation Law (the "DGCL") and the
CGCL, at the Effective Time (in other words, simultaneous with the Bank Merger),
GBC shall merge with and into Cathay Bancorp. Cathay Bancorp shall be the
surviving corporation in the Merger and shall continue its corporate existence
under the laws of the State of Delaware. Upon consummation of the Merger, the
separate corporate existence of GBC shall terminate.
(b) EFFECTS OF THE MERGER. At and after the Effective Time, the Merger
shall have the effects set forth in the DGCL and the CGCL. The certificate of
incorporation and bylaws of Cathay Bancorp as the surviving corporation shall
remain unchanged by the actions anticipated under the terms of this Agreement,
except that the Merger Agreement (as defined below) shall stipulate that the
certificate of incorporation of the surviving corporation shall be amended
thereby to change the name of the surviving corporation to "Cathay General
Bancorp."
(c) DIRECTORS OF THE SURVIVING CORPORATION. The directors of Cathay
Bancorp immediately prior to the Effective Time shall be the directors of Cathay
General Bancorp, as the surviving corporation of the Merger; provided, that the
Chairman, President and Chief Executive Officer of GBC and two other Continuing
Directors shall, at the Effective Time, also be appointed to serve as a Class I
director, a Class II director and a Class III director, respectively, of Cathay
General Bancorp, as the surviving corporation of the Merger, from and after the
Effective Time and until the earlier of their death, resignation or removal, or
until their respective successors shall be duly elected and qualified; provided
further, that the Chairman, President and Chief Executive Officer of GBC shall
be appointed as Executive Vice Chairman of Cathay General Bancorp's Board of
Directors. After the Effective Time until the annual meeting of shareholders
that is held in the year in which the term of any Continuing Director expires,
as the case may be, in the event that a Continuing Director shall resign, be
removed or no longer be able to serve (for whatever reason), then the Board of
Directors of Cathay General Bancorp shall fill such vacancy by either electing a
member of the Board of Directors of General Bank or GBC immediately prior to the
Effective Time or, if appropriate, shall nominate such person for election as a
director by the shareholders.
115023
|
 CSFB LLC
As referenced in this Agreement and Plan of Merger:
Credit Suisse First
Boston LLC – in or pertaining to
the business of Cathay Bancorp, Cathay Bank or their Subsidiaries.
2.12 FAIRNESS OPINION. Cathay Bancorp has received from Credit Suisse First
Boston LLC a fairness opinion, dated the date of this Agreement, that the Merger
Consideration is fair to Cathay Bancorp from a financial point of
_____________
dt 98919
;
Cathay General Bancorp
As referenced in this Agreement and Plan of Merger:
"Cathay General Bancorp. – in which GBC will
be merged (the "MERGER") with and into Cathay Bancorp with Cathay Bancorp as the
surviving entity under the name "Cathay General Bancorp. "
C. For federal income tax purposes, it is intended that the Merger shall
qualify as a "reorganization" within the meaning of Section
_____________
Cathay
General Bancorp – General Bank or GBC immediately prior to the Effective Time or,
if appropriate, shall nominate such person for election as a director by Cathay
General Bancorp (as the sole shareholder of Cathay Bank), and Cathay General
Bancorp shall vote its shares of Cathay Bank to elect the nominee
_____________
Cathay General
Bancorp – if appropriate, shall nominate such person for election as a director by Cathay
General Bancorp (as the sole shareholder of Cathay Bank), and Cathay General
Bancorp shall vote its shares of Cathay Bank to elect the nominee to fill such
vacancy.
(e) OFFICERS OF THE SURVIVING BANK. The officers
_____________
"Cathay General
Bancorp. – stipulate that the
certificate of incorporation of the surviving corporation shall be amended
thereby to change the name of the surviving corporation to "Cathay General
Bancorp. "
(c) DIRECTORS OF THE SURVIVING CORPORATION. The directors of Cathay
Bancorp immediately prior to the Effective Time shall be the directors of
_____________
Cathay
General Bancorp, – Bancorp."
(c) DIRECTORS OF THE SURVIVING CORPORATION. The directors of Cathay
Bancorp immediately prior to the Effective Time shall be the directors of Cathay
General Bancorp, as the surviving corporation of the Merger; provided, that the
Chairman, President and Chief Executive Officer of GBC and two other Continuing
_____________
dt 244048
;
 Bingham
As referenced in this Agreement and Plan of Merger:
Bingham McCutchen – in Sections 6.1(g) and 6.2(e), including the provision of
representations to Bingham McCutchen LLP and Morrison & Foerster LLP by Cathay
Bancorp in the form attached hereto as
Bingham McCutchen – b), (c) and (f) hereof have been satisfied;
(f) Cathay Bancorp shall have received from Bingham McCutchen LLP,
after providing appropriate representations to that firm and to Morrison &
Foerster LLP, in
Bingham McCutchen – have received from Morrison & Foerster LLP, after
providing appropriate representation to that firm and to Bingham McCutchen LLP,
in the form attached hereto as EXHIBIT H, an opinion, in form and
Bingham McCutchen – Broadway
Los Angeles, CA 90012
Attention: Perry Oei, Esq.
General Counsel
and a copy to:
Bingham McCutchen , LLP
3 Embarcadero Center
San Francisco, CA 94111
Attention: James M. Rockett, Esq.
(b)
dt 29552
;
|
Morrison
As referenced in this Agreement and Plan of Merger:
Morrison & Foerster – g) and 6.2(e), including the provision of
representations to Bingham McCutchen LLP and Morrison & Foerster LLP by Cathay
Bancorp in the form attached hereto as EXHIBIT G and by GBC
Morrison &
Foerster – have received from Bingham McCutchen LLP,
after providing appropriate representations to that firm and to Morrison &
Foerster LLP, in the form attached hereto as EXHIBIT G, an opinion, in form and
substance
Morrison & Foerster – 6.2(a), (b) and (c) have been satisfied;
(e) GBC shall have received from Morrison & Foerster LLP, after
providing appropriate representation to that firm and to Bingham McCutchen LLP,
in the
dt 32555
;
Skadden
As referenced in this Agreement and Plan of Merger:
Skadden, – the provisions of the SEC's No
Action Letter dated January 12, 1999 addressed to Skadden, Arps, Slate, Meagher
and Flom LLP relating to Rule 16b of the Securities Exchange
dt 34119
;
More... |
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Full Doc
| 2003 |
Agreement and Plan of Merger
Agreement and Plan of Merger (277K)
Doc #152096: Click preview link for longer preview.
AGREEMENT AND PLAN OF MERGER
By and Among
YELLOW CORPORATION,
YANKEE LLC
and
ROADWAY CORPORATION
JULY 8, 2003
{PAGE}
{Table}
{S} {C} {C}
ARTICLE 1 THE MERGER.................................................................................1
1.1 The Merger.....................................................................................1
1.2 Effective Time.................................................................................1
1.3 Effects of the Merger..........................................................................2
1.4 Articles of Organization and Regulations.......................................................2
1.5 Managers and Officers..........................................................................2
1.6 Further Assurances.............................................................................2
1.7 Closing........................................................................................2
ARTICLE 2 EFFECT OF THE MERGER ON THE CAPITAL STOCK AND MEMBERSHIP INTERESTS OF THE
CONSTITUENT COMPANIES; EXCHANGE OF CERTIFICATES............................................3
2.1 Effect on Capital Stock and Membership Interests...............................................3
2.2 Surviving Company to Make Certificates Available...............................................5
2.3 Dividends; Transfer Taxes......................................................................6
2.4 No Fractional Shares...........................................................................7
2.5 Return of Exchange Fund........................................................................7
2.6 Further Ownership Rights in Company Shares.....................................................8
2.7 Lost Certificates..............................................................................8
2.8 Withholding Rights.............................................................................8
2.9 Closing of the Company Transfer Books..........................................................8
2.10 Dissenting Shares..............................................................................8
ARTICLE 3 REPRESENTATIONS AND WARRANTIES.............................................................9
3.1 Representations and Warranties of the Company..................................................9
3.2 Representations and Warranties of Parent and Sub..............................................25
ARTICLE 4 COVENANTS RELATING TO CONDUCT OF BUSINESS.................................................39
4.1 Conduct of Business of the Company............................................................39
4.2 Conduct of Business of Parent.................................................................41
ARTICLE 5 ADDITIONAL AGREEMENTS.....................................................................43
5.1 Stockholder Approval; Preparation and Filing of the S-4 and Joint Proxy
Statement/Prospectus..........................................................................43
5.2 Access to Information.........................................................................44
5.3 Commercially Reasonable Efforts; Notification.................................................46
5.4 Letter of the Company's Accountants...........................................................49
{/Table}
{PAGE}
{Table}
{S} {C} {C}
5.5 Letter of Parent's Accountants................................................................49
5.6 Fees and Expenses.............................................................................49
5.7 Treatment of Stock Options....................................................................49
5.8 Treatment of Phantom Stock Rights.............................................................50
5.9 Appointment of Additional Directors...........................................................50
5.10 Public Announcements..........................................................................50
5.11 Agreement to Defend...........................................................................50
5.12 Nasdaq National Market........................................................................51
5.13 Agreements of Others..........................................................................51
5.14 Directors' and Officers' Indemnification......................................................51
5.15 Employee Benefit/Labor Matters................................................................52
5.16 Section 16(b).................................................................................54
5.17 Financing.....................................................................................54
5.18 Tax Matters...................................................................................54
ARTICLE 6 CONDITIONS PRECEDENT......................................................................55
6.1 Conditions to Each Party's Obligation to Effect the Merger....................................55
6.2 Conditions to Obligations of Parent and Sub...................................................55
6.3 Condition to Obligations of the Company.......................................................56
ARTICLE 7 TERMINATION, AMENDMENT AND WAIVER.........................................................57
7.1 Termination...................................................................................57
7.2 Procedure for Termination, Amendment, Extension or Waiver.....................................58
7.3 Effect of Termination.........................................................................58
7.4 Amendment.....................................................................................58
7.5 Extension; Waiver.............................................................................59
ARTICLE 8 SPECIAL PROVISIONS AS TO CERTAIN MATTERS..................................................59
8.1 Takeover Defenses of the Company..............................................................59
8.2 No Solicitation...............................................................................59
8.3 Fee and Expense Reimbursements................................................................61
ARTICLE 9 GENERAL PROVISIONS........................................................................62
9.1 Nonsurvival of Representations and Warranties.................................................62
9.2 Notices.......................................................................................62
9.3 Definitions...................................................................................63
{/Table}
{PAGE}
{Table}
{S} {C} {C}
9.4 Interpretation................................................................................63
9.5 Counterparts..................................................................................64
9.6 Entire Agreement; No Third-Party Beneficiaries................................................64
9.7 Governing Law.................................................................................64
9.8 Assignment....................................................................................64
9.9 Enforcement of the Agreement..................................................................64
9.10 Performance by Sub............................................................................64
9.11 Severability..................................................................................64
{/Table}
{PAGE}
INDEX OF DEFINED TERMS
{Table}
{Caption}
Section
-------
{S} {C}
affiliate..................................................... 9.3(a)
Aggregate Non-Dissenting Value................................ 2.1(g)
Agreement..................................................... Preamble
Acquisition Proposal.......................................... 8.2(a)
Average Closing Price......................................... 2.1(c)
Certificate of Merger......................................... 1.2
Cash Consideration............................................ 2.1(c)
Cash Election................................................. 2.1(d)
Cash Election Number.......................................... 2.1(d)
Cash Election Shares.......................................... 2.1(e)
Cash Fraction................................................. 2.1(e)
CERCLA........................................................ 3.1(q)
Certificates.................................................. 2.2(a)
CIC Agreements................................................ 5.15(d)
Closing....................................................... 1.7
Code.......................................................... Preamble
Commitment Letters............................................ 3.2(w)
Company....................................................... Introduction
Company Balance Sheet......................................... 3.1(g)
Company Balance Sheet Date.................................... 3.1(g)
Company Benefit Plans......................................... 3.1(n)
Company Charter Documents..................................... 3.1(e)
Company Disclosure Schedule................................... 3.1
Company ERISA Affiliate....................................... 3.1(n)
Company Financial Advisor..................................... 3.1(w)
Company Health Plan........................................... 5.15(a)
Company Multiemployer Plans................................... 3.1(n)
Company Permits............................................... 3.1(r)
Company Recommendation........................................ 5.1(a)
Company Regulatory Documents.................................. 5.3(c)
Company Representatives....................................... 8.2(a)
Company SEC Documents......................................... 3.1(g)
Company Share and Company Shares.............................. Preamble
Company Stockholder Approval.................................. 3.1(aa)
Company Stockholder Meeting................................... 3.1(h)
Company Subsidiary............................................ 3.1(b)
Company's Stock Plans......................................... 3.1(c)
Company Stock Options......................................... 5.7
Company Tax Party............................................. 3.1(o)
Confidentiality Agreements.................................... 5.2(b)
Continuing Employees.......................................... 5.15(a)
Current Year.................................................. 5.15(a)
Dissenting Shares............................................. 2.10
{/Table}
{PAGE}
{Table}
{Caption}
Section
-------
{S} {C}
DGCL.......................................................... 1.1
DLLCA......................................................... 1.1
Effective Time................................................ 1.2
Election Deadline............................................. 2.2(b)
Environmental Condition....................................... 3.1(q)
Environmental Liabilities..................................... 3.1(q)
Environmental Permit.......................................... 3.1(q)
Environmental Laws............................................ 3.1(q)
ERISA......................................................... 3.1(n)
Exchange Act.................................................. 3.1(f)
Exchange Agent................................................ 2.2(a)
Exchange Fund................................................. 2.2(a)
Exchange Ratio................................................ 2.1(c)
Form of Election ............................................. 2.2(b)
Governmental Entity........................................... 3.1(f)
Hazardous Materials........................................... 3.1(q)
hereof, herein and hereunder.................................. 9.4
HSR Act....................................................... 3.1(f)
include, includes or including................................ 9.4
Indemnified Liabilities....................................... 5.14(a)
Indemnified Party or Parties.................................. 5.14(a)
Intellectual Property......................................... 3.1(u)
IRS........................................................... 3.1(n)
Joint Proxy Statement/Prospectus.............................. 3.1(f)
knowledge..................................................... 9.3(b)
Liens......................................................... 3.1(b)
material adverse effect or material adverse change............ 9.3(c)
Merger........................................................ Preamble
Merger Consideration.......................................... 2.1(c)
Nasdaq National Market........................................ 2.1(c)
Non-Dissenting Shares......................................... 2.1(g)
Notice of Superior Proposal................................... 8.2(b)
Out-of-Pocket Expenses........................................ 8.3(c)
Parent........................................................ Introduction
Parent Balance Sheet.......................................... 3.2(g)
Parent Balance Sheet Date..................................... 3.2(g)
Parent Benefit Plans.......................................... 3.2(t)
Parent Charter Documents...................................... 3.2(e)
Parent Common Stock........................................... 2.1(c)
Parent Disclosure Schedule.................................... 3.2
Parent ERISA Affiliate ....................................... 3.2(t)
Parent Financial Advisor...................................... 3.2(n)
Parent Multiemployer Plans.................................... 3.2(t)
Parent Regulatory Documents................................... 5.3(c)
Parent Permits................................................ 3.2(l)
{/Table}
{PAGE}
{Table}
{Caption}
Section
-------
{S} {C}
Parent Preferred Stock........................................ 3.2(c)
Parent Recommendation......................................... 5.1(a)
Parent SEC Documents.......................................... 3.2(g)
Parent Stockholder Approval................................... 3.2(u)
Parent Stockholder Meeting.................................... 3.1(h)
Parent Subsidiary............................................. 3.2(b)
Parent Tax Party.............................................. 3.2(q)
Past Service.................................................. 5.15(a)
PBGC.......................................................... 3.1(n)
person........................................................ 9.3(d)
RCRA.......................................................... 3.1(q)
S-4........................................................... 3.1(h)
Sarbanes-Oxley Act............................................ 3.1(g)
SARs.......................................................... 3.1(c)
SEC........................................................... 3.1(f)
Securities Act................................................ 3.1(f)
Share Issuance................................................ 3.2(u)
Stock Consideration........................................... 2.1(c)
Stock Election Shares......................................... 2.1(e)
Stock Fraction ............................................... 2.1(e)
Stockholder Meetings.......................................... 3.1(h)
Sub........................................................... Introduction
subsidiary.................................................... 9.3(e)
Substitute Shares............................................. 5.8
superior proposal............................................. 8.2(c)
Surviving Company............................................. 1.1
Tax or Taxes.................................................. 3.1(o)
Tax Return.................................................... 3.1(o)
Termination Fee............................................... 8.3(a)
Total Consideration........................................... 2.1(g)
Trading Day................................................... 2.1(c)
Transferee.................................................... 2.2(b)
{/Table}
{PAGE}
AGREEMENT AND PLAN OF MERGER
This Agreement and Plan of Merger is dated as of July 8, 2003, among
Yellow Corporation, a Delaware corporation ("PARENT"), Yankee LLC, a Delaware
limited liability company ("SUB") and a wholly owned subsidiary of Parent, and
Roadway Corporation, a Delaware corporation (the "COMPANY").
WHEREAS, the respective Boards of Directors of each of Parent and the
Company, and the sole member of Sub, have approved the acquisition of the
Company by Parent on the terms and subject to the conditions of this Agreement
and Plan of Merger (this "AGREEMENT");
WHEREAS, in order to effect such acquisition of the Company, the
respective Boards of Directors of each of Parent and the Company, and the sole
member of Sub, have approved the merger of the Company with and into Sub (the
"MERGER"), upon the terms and subject to the conditions of this Agreement,
whereby each issued and outstanding share of common stock, $.01 par value per
share, of the Company (singularly, "COMPANY SHARE", and plurally, "COMPANY
SHARES") not owned directly or indirectly by Parent or the Company, except
Dissenting Shares (as defined in SECTION 2.10), will be converted into the right
to receive the Merger Consideration (as defined in SECTION 2.1(c));
WHEREAS, for federal income tax purposes, the parties intend that the
Merger will qualify as a reorganization described in Section 368(a) of the
Internal Revenue Code of 1986, as amended (the "CODE"); and
WHEREAS, Parent, Sub and the Company desire to make certain
representations, warranties and agreements in connection with the Merger and
also to prescribe various conditions to the Merger;
NOW, THEREFORE, in consideration of the premises and the
representations, warranties and agreements herein contained, the parties agree
as follows:
ARTICLE 1
THE MERGER
1.1 THE MERGER. Upon the terms and subject to the conditions hereof and
in accordance with the Delaware General Corporation Law (the "DGCL") and the
Delaware Limited Liability Company Act (the "DLLCA"), the Company shall be
merged with and into Sub at the Effective Time (as defined below). Following the
Merger, the separate corporate existence of the Company shall cease and Sub
shall continue as the Surviving Company (the "SURVIVING COMPANY") and shall
succeed to and assume all the rights and obligations of the Company in
accordance with the DGCL and the DLLCA.
1.2 EFFECTIVE TIME. As soon as practicable following the satisfaction
or waiver of the conditions set forth in ARTICLE 6, the parties shall file a
certificate of merger or other appropriate documents with the Secretary of State
of Delaware (the "CERTIFICATE OF MERGER")
152096
|
CSFB LLC
As referenced in this Agreement and Plan of Merger:
Credit Suisse First Boston LLC, – material adverse effect on the Company.
(w) Opinion of Financial Advisor. The Board of Directors of
the Company has received an opinion of Credit Suisse First Boston LLC, the
Company's financial advisor (the "COMPANY FINANCIAL ADVISOR"), dated the date of
this Agreement, to the effect that, as of the
_____________
dt 98951
;
Roadway
As referenced in this Agreement and Plan of Merger:
roadway – 2.1
AGREEMENT AND PLAN OF MERGER
By and Among
YELLOW CORPORATION,
YANKEE LLC
and
ROADWAY CORPORATION
JULY 8, 2003
{PAGE}
{Table}
{S} {C} {C}
ARTICLE 1 THE MERGER.................................................................................1
1.
roadway – LLC, a Delaware
limited liability company ("SUB") and a wholly owned subsidiary of Parent, and
Roadway Corporation, a Delaware corporation (the "COMPANY").
WHEREAS, the respective Boards of Directors of each of
roadway – hereby as of the Effective
Time to change the name of the Surviving Company to Roadway LLC.
(b) The limited liability company agreement of Sub as in effect at the
Effective
roadway – or stock awards granted
under the following plans:
{Table}
{Caption}
Plan Shares Reserved
---- ---------------
{S} {C}
Roadway Corporation Management Incentive Stock Plan......................... 950,000
Roadway Corporation Equity Ownership Plan................................... 2,000,000
roadway – Table}
{Caption}
Plan Shares Reserved
---- ---------------
{S} {C}
Roadway Corporation Management Incentive Stock Plan......................... 950,000
Roadway Corporation Equity Ownership Plan................................... 2,000,000
Roadway Corporation 2001 Employee Stock Purchase Plan....................... 1,
dt 503
;
SCS
As referenced in this Agreement and Plan of Merger:
SCS Transportation, Inc – of the Code within the past
two years. There was not, and will not be, any gain recognized by Parent on the
100% distribution of all of the shares of SCS Transportation, Inc . to Parent's
stockholders on September 30, 2002. Neither Parent nor any of the Parent
Subsidiaries has participated in any transactions that have been identified by
the Internal Revenue
_____________
dt 1477532
;
|
Deutsche Bank
As referenced in this Agreement and Plan of Merger:
Deutsche Bank Securities Inc – Parent or any of the
Parent Subsidiaries.
(n) Opinion of Financial Advisor. The Board of Directors of
Parent has received an opinion of Deutsche Bank Securities Inc ., Parent's
financial advisor (the "PARENT FINANCIAL ADVISOR"), dated the date of this
Agreement, to the effect that, as of the date
_____________
Deutsche Bank
Securities Inc – Islands Branch to Parent and that certain commitment letter dated as
of July 8, 2003 issued by Deutsche Bank Trust Company Americas and Deutsche Bank
Securities Inc . to Parent (collectively, the "COMMITMENT LETTERS"), which
provide, subject to the satisfaction of the conditions set forth therein, for
financing in an
_____________
dt 98560
;
DB Trust
As referenced in this Agreement and Plan of Merger:
Deutsche Bank Trust Co – issued by Deutsche Bank
AG Cayman Islands Branch to Parent and that certain commitment letter dated as
of July 8, 2003 issued by Deutsche Bank Trust Co mpany Americas and Deutsche Bank
Securities Inc. to Parent (collectively, the "COMMITMENT LETTERS"), which
provide, subject to the satisfaction of the conditions set
_____________
dt 113765
;
More... |
| Preview
Full Doc
| 2003 |
Agreement and Plan of Merger
Agreement and Plan of Merger (276K)
Doc #152097: Click preview link for longer preview.
AGREEMENT AND PLAN OF MERGER
By and Among
YELLOW CORPORATION,
YANKEE LLC
and
ROADWAY CORPORATION
JULY 8, 2003
{PAGE}
{Table}
{S} {C} {C}
ARTICLE 1 THE MERGER.................................................................................1
1.1 The Merger.....................................................................................1
1.2 Effective Time.................................................................................1
1.3 Effects of the Merger..........................................................................2
1.4 Articles of Organization and Regulations.......................................................2
1.5 Managers and Officers..........................................................................2
1.6 Further Assurances.............................................................................2
1.7 Closing........................................................................................2
ARTICLE 2 EFFECT OF THE MERGER ON THE CAPITAL STOCK AND MEMBERSHIP INTERESTS OF THE
CONSTITUENT COMPANIES; EXCHANGE OF CERTIFICATES............................................3
2.1 Effect on Capital Stock and Membership Interests...............................................3
2.2 Surviving Company to Make Certificates Available...............................................5
2.3 Dividends; Transfer Taxes......................................................................6
2.4 No Fractional Shares...........................................................................7
2.5 Return of Exchange Fund........................................................................7
2.6 Further Ownership Rights in Company Shares.....................................................8
2.7 Lost Certificates..............................................................................8
2.8 Withholding Rights.............................................................................8
2.9 Closing of the Company Transfer Books..........................................................8
2.10 Dissenting Shares..............................................................................8
ARTICLE 3 REPRESENTATIONS AND WARRANTIES.............................................................9
3.1 Representations and Warranties of the Company..................................................9
3.2 Representations and Warranties of Parent and Sub..............................................25
ARTICLE 4 COVENANTS RELATING TO CONDUCT OF BUSINESS.................................................39
4.1 Conduct of Business of the Company............................................................39
4.2 Conduct of Business of Parent.................................................................41
ARTICLE 5 ADDITIONAL AGREEMENTS.....................................................................43
5.1 Stockholder Approval; Preparation and Filing of the S-4 and Joint Proxy
Statement/Prospectus..........................................................................43
5.2 Access to Information.........................................................................44
5.3 Commercially Reasonable Efforts; Notification.................................................46
5.4 Letter of the Company's Accountants...........................................................49
{/Table}
{PAGE}
{Table}
{S} {C} {C}
5.5 Letter of Parent's Accountants................................................................49
5.6 Fees and Expenses.............................................................................49
5.7 Treatment of Stock Options....................................................................49
5.8 Treatment of Phantom Stock Rights.............................................................50
5.9 Appointment of Additional Directors...........................................................50
5.10 Public Announcements..........................................................................50
5.11 Agreement to Defend...........................................................................50
5.12 Nasdaq National Market........................................................................51
5.13 Agreements of Others..........................................................................51
5.14 Directors' and Officers' Indemnification......................................................51
5.15 Employee Benefit/Labor Matters................................................................52
5.16 Section 16(b).................................................................................54
5.17 Financing.....................................................................................54
5.18 Tax Matters...................................................................................54
ARTICLE 6 CONDITIONS PRECEDENT......................................................................55
6.1 Conditions to Each Party's Obligation to Effect the Merger....................................55
6.2 Conditions to Obligations of Parent and Sub...................................................55
6.3 Condition to Obligations of the Company.......................................................56
ARTICLE 7 TERMINATION, AMENDMENT AND WAIVER.........................................................57
7.1 Termination...................................................................................57
7.2 Procedure for Termination, Amendment, Extension or Waiver.....................................58
7.3 Effect of Termination.........................................................................58
7.4 Amendment.....................................................................................58
7.5 Extension; Waiver.............................................................................59
ARTICLE 8 SPECIAL PROVISIONS AS TO CERTAIN MATTERS..................................................59
8.1 Takeover Defenses of the Company..............................................................59
8.2 No Solicitation...............................................................................59
8.3 Fee and Expense Reimbursements................................................................61
ARTICLE 9 GENERAL PROVISIONS........................................................................62
9.1 Nonsurvival of Representations and Warranties.................................................62
9.2 Notices.......................................................................................62
9.3 Definitions...................................................................................63
{/Table}
{PAGE}
{Table}
{S} {C} {C}
9.4 Interpretation................................................................................63
9.5 Counterparts..................................................................................64
9.6 Entire Agreement; No Third-Party Beneficiaries................................................64
9.7 Governing Law.................................................................................64
9.8 Assignment....................................................................................64
9.9 Enforcement of the Agreement..................................................................64
9.10 Performance by Sub............................................................................64
9.11 Severability..................................................................................64
{/Table}
{PAGE}
INDEX OF DEFINED TERMS
{Table}
{Caption}
Section
-------
{S} {C}
affiliate..................................................... 9.3(a)
Aggregate Non-Dissenting Value................................ 2.1(g)
Agreement..................................................... Preamble
Acquisition Proposal.......................................... 8.2(a)
Average Closing Price......................................... 2.1(c)
Certificate of Merger......................................... 1.2
Cash Consideration............................................ 2.1(c)
Cash Election................................................. 2.1(d)
Cash Election Number.......................................... 2.1(d)
Cash Election Shares.......................................... 2.1(e)
Cash Fraction................................................. 2.1(e)
CERCLA........................................................ 3.1(q)
Certificates.................................................. 2.2(a)
CIC Agreements................................................ 5.15(d)
Closing....................................................... 1.7
Code.......................................................... Preamble
Commitment Letters............................................ 3.2(w)
Company....................................................... Introduction
Company Balance Sheet......................................... 3.1(g)
Company Balance Sheet Date.................................... 3.1(g)
Company Benefit Plans......................................... 3.1(n)
Company Charter Documents..................................... 3.1(e)
Company Disclosure Schedule................................... 3.1
Company ERISA Affiliate....................................... 3.1(n)
Company Financial Advisor..................................... 3.1(w)
Company Health Plan........................................... 5.15(a)
Company Multiemployer Plans................................... 3.1(n)
Company Permits............................................... 3.1(r)
Company Recommendation........................................ 5.1(a)
Company Regulatory Documents.................................. 5.3(c)
Company Representatives....................................... 8.2(a)
Company SEC Documents......................................... 3.1(g)
Company Share and Company Shares.............................. Preamble
Company Stockholder Approval.................................. 3.1(aa)
Company Stockholder Meeting................................... 3.1(h)
Company Subsidiary............................................ 3.1(b)
Company's Stock Plans......................................... 3.1(c)
Company Stock Options......................................... 5.7
Company Tax Party............................................. 3.1(o)
Confidentiality Agreements.................................... 5.2(b)
Continuing Employees.......................................... 5.15(a)
Current Year.................................................. 5.15(a)
Dissenting Shares............................................. 2.10
{/Table}
{PAGE}
{Table}
{Caption}
Section
-------
{S} {C}
DGCL.......................................................... 1.1
DLLCA......................................................... 1.1
Effective Time................................................ 1.2
Election Deadline............................................. 2.2(b)
Environmental Condition....................................... 3.1(q)
Environmental Liabilities..................................... 3.1(q)
Environmental Permit.......................................... 3.1(q)
Environmental Laws............................................ 3.1(q)
ERISA......................................................... 3.1(n)
Exchange Act.................................................. 3.1(f)
Exchange Agent................................................ 2.2(a)
Exchange Fund................................................. 2.2(a)
Exchange Ratio................................................ 2.1(c)
Form of Election ............................................. 2.2(b)
Governmental Entity........................................... 3.1(f)
Hazardous Materials........................................... 3.1(q)
hereof, herein and hereunder.................................. 9.4
HSR Act....................................................... 3.1(f)
include, includes or including................................ 9.4
Indemnified Liabilities....................................... 5.14(a)
Indemnified Party or Parties.................................. 5.14(a)
Intellectual Property......................................... 3.1(u)
IRS........................................................... 3.1(n)
Joint Proxy Statement/Prospectus.............................. 3.1(f)
knowledge..................................................... 9.3(b)
Liens......................................................... 3.1(b)
material adverse effect or material adverse change............ 9.3(c)
Merger........................................................ Preamble
Merger Consideration.......................................... 2.1(c)
Nasdaq National Market........................................ 2.1(c)
Non-Dissenting Shares......................................... 2.1(g)
Notice of Superior Proposal................................... 8.2(b)
Out-of-Pocket Expenses........................................ 8.3(c)
Parent........................................................ Introduction
Parent Balance Sheet.......................................... 3.2(g)
Parent Balance Sheet Date..................................... 3.2(g)
Parent Benefit Plans.......................................... 3.2(t)
Parent Charter Documents...................................... 3.2(e)
Parent Common Stock........................................... 2.1(c)
Parent Disclosure Schedule.................................... 3.2
Parent ERISA Affiliate ....................................... 3.2(t)
Parent Financial Advisor...................................... 3.2(n)
Parent Multiemployer Plans.................................... 3.2(t)
Parent Regulatory Documents................................... 5.3(c)
Parent Permits................................................ 3.2(l)
{/Table}
{PAGE}
{Table}
{Caption}
Section
-------
{S} {C}
Parent Preferred Stock........................................ 3.2(c)
Parent Recommendation......................................... 5.1(a)
Parent SEC Documents.......................................... 3.2(g)
Parent Stockholder Approval................................... 3.2(u)
Parent Stockholder Meeting.................................... 3.1(h)
Parent Subsidiary............................................. 3.2(b)
Parent Tax Party.............................................. 3.2(q)
Past Service.................................................. 5.15(a)
PBGC.......................................................... 3.1(n)
person........................................................ 9.3(d)
RCRA.......................................................... 3.1(q)
S-4........................................................... 3.1(h)
Sarbanes-Oxley Act............................................ 3.1(g)
SARs.......................................................... 3.1(c)
SEC........................................................... 3.1(f)
Securities Act................................................ 3.1(f)
Share Issuance................................................ 3.2(u)
Stock Consideration........................................... 2.1(c)
Stock Election Shares......................................... 2.1(e)
Stock Fraction ............................................... 2.1(e)
Stockholder Meetings.......................................... 3.1(h)
Sub........................................................... Introduction
subsidiary.................................................... 9.3(e)
Substitute Shares............................................. 5.8
superior proposal............................................. 8.2(c)
Surviving Company............................................. 1.1
Tax or Taxes.................................................. 3.1(o)
Tax Return.................................................... 3.1(o)
Termination Fee............................................... 8.3(a)
Total Consideration........................................... 2.1(g)
Trading Day................................................... 2.1(c)
Transferee.................................................... 2.2(b)
{/Table}
{PAGE}
AGREEMENT AND PLAN OF MERGER
This Agreement and Plan of Merger is dated as of July 8, 2003, among
Yellow Corporation, a Delaware corporation ("PARENT"), Yankee LLC, a Delaware
limited liability company ("SUB") and a wholly owned subsidiary of Parent, and
Roadway Corporation, a Delaware corporation (the "COMPANY").
WHEREAS, the respective Boards of Directors of each of Parent and the
Company, and the sole member of Sub, have approved the acquisition of the
Company by Parent on the terms and subject to the conditions of this Agreement
and Plan of Merger (this "AGREEMENT");
WHEREAS, in order to effect such acquisition of the Company, the
respective Boards of Directors of each of Parent and the Company, and the sole
member of Sub, have approved the merger of the Company with and into Sub (the
"MERGER"), upon the terms and subject to the conditions of this Agreement,
whereby each issued and outstanding share of common stock, $.01 par value per
share, of the Company (singularly, "COMPANY SHARE", and plurally, "COMPANY
SHARES") not owned directly or indirectly by Parent or the Company, except
Dissenting Shares (as defined in SECTION 2.10), will be converted into the right
to receive the Merger Consideration (as defined in SECTION 2.1(c));
WHEREAS, for federal income tax purposes, the parties intend that the
Merger will qualify as a reorganization described in Section 368(a) of the
Internal Revenue Code of 1986, as amended (the "CODE"); and
WHEREAS, Parent, Sub and the Company desire to make certain
representations, warranties and agreements in connection with the Merger and
also to prescribe various conditions to the Merger;
NOW, THEREFORE, in consideration of the premises and the
representations, warranties and agreements herein contained, the parties agree
as follows:
ARTICLE 1
THE MERGER
1.1 THE MERGER. Upon the terms and subject to the conditions hereof and
in accordance with the Delaware General Corporation Law (the "DGCL") and the
Delaware Limited Liability Company Act (the "DLLCA"), the Company shall be
merged with and into Sub at the Effective Time (as defined below). Following the
Merger, the separate corporate existence of the Company shall cease and Sub
shall continue as the Surviving Company (the "SURVIVING COMPANY") and shall
succeed to and assume all the rights and obligations of the Company in
accordance with the DGCL and the DLLCA.
1.2 EFFECTIVE TIME. As soon as practicable following the satisfaction
or waiver of the conditions set forth in ARTICLE 6, the parties shall file a
certificate of merger or other appropriate documents with the Secretary of State
of Delaware (the "CERTIFICATE OF MERGER")
152097
|
CSFB LLC
As referenced in this Agreement and Plan of Merger:
Credit Suisse First Boston LLC, – material adverse effect on the Company.
(w) Opinion of Financial Advisor. The Board of Directors of
the Company has received an opinion of Credit Suisse First Boston LLC, the
Company's financial advisor (the "COMPANY FINANCIAL ADVISOR"), dated the date of
this Agreement, to the effect that, as of the
_____________
dt 98952
;
Roadway
As referenced in this Agreement and Plan of Merger:
roadway – TEXT}
{PAGE}
AGREEMENT AND PLAN OF MERGER
By and Among
YELLOW CORPORATION,
YANKEE LLC
and
ROADWAY CORPORATION
JULY 8, 2003
{PAGE}
{Table}
{S} {C} {C}
ARTICLE 1 THE MERGER.................................................................................1
1.
roadway – LLC, a Delaware
limited liability company ("SUB") and a wholly owned subsidiary of Parent, and
Roadway Corporation, a Delaware corporation (the "COMPANY").
WHEREAS, the respective Boards of Directors of each of
roadway – hereby as of the Effective
Time to change the name of the Surviving Company to Roadway LLC.
(b) The limited liability company agreement of Sub as in effect at the
Effective
roadway – or stock awards granted
under the following plans:
{Table}
{Caption}
Plan Shares Reserved
---- ---------------
{S} {C}
Roadway Corporation Management Incentive Stock Plan......................... 950,000
Roadway Corporation Equity Ownership Plan................................... 2,000,000
roadway – Table}
{Caption}
Plan Shares Reserved
---- ---------------
{S} {C}
Roadway Corporation Management Incentive Stock Plan......................... 950,000
Roadway Corporation Equity Ownership Plan................................... 2,000,000
Roadway Corporation 2001 Employee Stock Purchase Plan....................... 1,
dt 502
;
SCS
As referenced in this Agreement and Plan of Merger:
SCS Transportation, Inc – of the Code within the past
two years. There was not, and will not be, any gain recognized by Parent on the
100% distribution of all of the shares of SCS Transportation, Inc . to Parent's
stockholders on September 30, 2002. Neither Parent nor any of the Parent
Subsidiaries has participated in any transactions that have been identified by
the Internal Revenue
_____________
dt 1477533
;
|
Deutsche Bank
As referenced in this Agreement and Plan of Merger:
Deutsche Bank Securities Inc – Parent or any of the
Parent Subsidiaries.
(n) Opinion of Financial Advisor. The Board of Directors of
Parent has received an opinion of Deutsche Bank Securities Inc ., Parent's
financial advisor (the "PARENT FINANCIAL ADVISOR"), dated the date of this
Agreement, to the effect that, as of the date
_____________
Deutsche Bank
Securities Inc – Islands Branch to Parent and that certain commitment letter dated as
of July 8, 2003 issued by Deutsche Bank Trust Company Americas and Deutsche Bank
Securities Inc . to Parent (collectively, the "COMMITMENT LETTERS"), which
provide, subject to the satisfaction of the conditions set forth therein, for
financing in an
_____________
dt 98561
;
DB Trust
As referenced in this Agreement and Plan of Merger:
Deutsche Bank Trust Co – issued by Deutsche Bank
AG Cayman Islands Branch to Parent and that certain commitment letter dated as
of July 8, 2003 issued by Deutsche Bank Trust Co mpany Americas and Deutsche Bank
Securities Inc. to Parent (collectively, the "COMMITMENT LETTERS"), which
provide, subject to the satisfaction of the conditions set
_____________
dt 113766
;
More... |
| Preview
Full Doc
| 2003 |
Agreement and Plan of Reorganization
Agreement and Plan of Reorganization (281K)
Doc #167415: Click preview link for longer preview.
AGREEMENT AND PLAN OF REORGANIZATION
THIS AGREEMENT AND PLAN OF REORGANIZATION (this Agreement) is made and entered into on October 22, 2003, by and among SAFENET, INC., a Delaware corporation (Parent), RAVENS ACQUISITION CORP., a Delaware corporation and a wholly owned subsidiary of Parent (Merger Sub), and RAINBOW TECHNOLOGIES, INC., a Delaware corporation (the Company). Certain capitalized terms used in this Agreement are defined in Exhibit A.
RECITALS
WHEREAS, Parent, Merger Sub and the Company intend to effect a merger (the Merger) of Merger Sub into the Company in accordance with this Agreement and the General Corporation Law of the State of Delaware (the DGCL). Upon consummation of the Merger, Merger Sub will cease to exist, and the Company will become a wholly owned subsidiary of Parent;
WHEREAS, it is intended that the Merger shall qualify as a reorganization within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended (the Code);
WHEREAS, the Board of Directors of the Company (i) has determined that the Merger is in the best interests of the Company and its stockholders, (ii) has approved, adopted and declared advisable this Agreement, (iii) has approved the Merger and the other transactions contemplated by this Agreement and (iv) has determined to recommend that the stockholders of the Company adopt this Agreement (the recommendation referred to in this clause (iv) is referred to in this Agreement as the Company Recommendation);
WHEREAS, the Board of Directors of Parent (i) has determined that the Merger is in the best interests of Parent and its stockholders, (ii) has approved and adopted this Agreement, the Merger and the other transactions contemplated by this Agreement, and (iii) has determined to recommend that the stockholders of Parent approve the issuance of Parent Common Stock pursuant to the Merger as contemplated by this Agreement (the recommendation referred in this clause (iii) is referred to in this Agreement as the Parent Recommendation);
WHEREAS, concurrently with the execution and delivery of this Agreement and as a condition and inducement to Parent and Merger Sub to enter into this Agreement, Parent and certain stockholders of the Company listed on Exhibit B-1 (collectively, the Company Stockholders) are entering into Voting Agreements in the form of Exhibit B-2 (the Company Voting Agreements) pursuant to which the Company Stockholders have agreed to vote all of their shares of Company Common Stock in favor of the adoption of this Agreement and to take certain other actions in connection with the transactions contemplated hereby; and
WHEREAS, concurrently with the execution and delivery of this Agreement and as a condition and inducement to the Company to enter into this Agreement, the Company and the stockholders of Parent listed in Exhibit B-3 (the Parent Stockholders) are entering into Voting Agreements in the form of Exhibit B-4 (the Parent Voting Agreements) pursuant to which such Parent Stockholders have agreed to vote all of their shares of Parent Common Stock in favor of the issuance of Parent Common Stock pursuant to the Merger and to take certain other actions in connection with the transactions contemplated hereby.
AGREEMENT
The parties to this Agreement, intending to be legally bound, agree as follows:
1.1 MERGER OF MERGER SUB INTO THE COMPANY.
Upon the terms and subject to the conditions set forth in this Agreement, at the Effective Time (as defined in Section 1.3), Merger Sub shall be merged with and into the Company, and the separate existence of Merger Sub shall cease. The Company will continue as the surviving corporation in the Merger (the Surviving Corporation) and will be a wholly owned subsidiary of Parent.
The Merger shall have the effects set forth in this Agreement and the applicable provisions of the DGCL.
The consummation of the Merger (the Closing) shall take place at the offices of Venable LLP, 1800 Mercantile Bank & Trust Building, 2 Hopkins Plaza, Baltimore, Maryland 21201 at 10:00 a.m. on a date to be designated by Parent (the Closing Date), which date shall be no later than the second business day after the conditions set forth in Section 6 shall have been satisfied or waived (other than those conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or waiver of such conditions), or such other time as Parent and the Company shall mutually agree. Subject to the provisions of this Agreement, the certificate of merger in the form attached hereto as Exhibit C (the Certificate of Merger), together with such other documents as may be required by the relevant provision of the DGCL, shall be duly executed on behalf of the Company and simultaneously with the Closing delivered to the Secretary of State of the State of Delaware for filing. The Merger shall become effective upon the date and time of the filing of the Certificate of Merger with the Secretary of State of the State of Delaware or such other date and time as may be mutually agreed upon by Parent and the Company and set forth in the Certificate of Merger (the Effective Time).
1.4 CERTIFICATE OF INCORPORATION AND BYLAWS.
Unless otherwise determined by Parent prior to the Effective Time:
(a) The certificate of incorporation of the Surviving Corporation shall be amended and restated immediately after the Effective Time to conform to the certificate of incorporation of the Merger Sub as in effect immediately prior to the Effective Time, except the name of the Surviving Corporation shall be Rainbow Technologies, Inc.
(b) The bylaws of the Surviving Corporation shall be amended and restated immediately after the Effective Time to conform to the bylaws of the Merger Sub as in effect immediately prior to the Effective Time.
167415
|
CSFB LLC
As referenced in this Agreement and Plan of Reorganization:
Credit Suisse First Boston LLC, – Adverse Effect on the SafeNet Corporations.
38
3.18 OPINION OF FINANCIAL ADVISOR.
The Parents Board of Directors has received the opinion of Credit Suisse First Boston LLC, financial advisor to Parent, that as of the date of this Agreement and subject to the assumptions, qualifications and limitations set forth
_____________
dt 98983
;
SafeNet
As referenced in this Agreement and Plan of Reorganization:
SAFENET, INC. –
EX-2.1 3 a03-4377_1ex2d1.htm EX-2.1
Exhibit 2.1
FINAL
AGREEMENT AND PLAN OF REORGANIZATION
BY AND AMONG
SAFENET, INC. ,
RAVENS ACQUISITION CORP.
AND
RAINBOW TECHNOLOGIES, INC.
Dated as October 22, 2003
TABLE OF CONTENTS
SECTION 1.
THE MERGER
1.1
MERGER OF MERGER SUB INTO THE COMPANY.
1.
_____________
SAFENET, INC. – PERFORMANCE.
8.11
CONSTRUCTION.
iii
AGREEMENT AND PLAN OF REORGANIZATION
THIS AGREEMENT AND PLAN OF REORGANIZATION (this Agreement) is made and entered into on October 22, 2003, by and among SAFENET, INC. , a Delaware corporation (Parent), RAVENS ACQUISITION CORP., a Delaware corporation and a wholly owned subsidiary of Parent (Merger Sub), and RAINBOW TECHNOLOGIES, INC., a Delaware corporation (the Company). Certain
_____________
SafeNet, Inc. – to such other address or facsimile telephone number as such party shall have specified in a written notice given to the other parties hereto):
If to Parent or Merger Sub:
SafeNet, Inc.
8029 Corporate Drive
Baltimore, MD 21236
(410) 931-2229
Attention: Chairman and Chief Executive Officer
with a copy to (which copy shall not constitute notice hereunder):
Venable LLP
8010
_____________
SAFENET, INC. – Agreement and Exhibits to this Agreement.
[Signatures on following page]
64
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the date first ab |