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Agreement and Plan of Merger [Amended and Restated]
Agreement and Plan of Merger [Amended and Restated] (192K)
Doc #115019: Click preview link for longer preview.
AMENDED AND RESTATED
AGREEMENT AND PLAN OF MERGER
THIS AMENDED AND RESTATED AGREEMENT AND PLAN OF MERGER (this "Agreement") dated as of April 21, 2003, by and among CIBER, INC., a Delaware corporation ("CIBER"), CIBER ACQUISITION CORPORATION, a New Jersey corporation and wholly owned subsidiary of CIBER ("CIBER SUB"), and ALPHANET SOLUTIONS, INC., a New Jersey corporation ("ALPHANET").
RECITALS
WHEREAS, CIBER, CIBER SUB and ALPHANET have entered into that certain Agreement and Plan of Merger dated as of April 21, 2003 (the "Original Agreement");
WHEREAS, CIBER, CIBER SUB and ALPHANET desire to amend the Original Agreement to provide that the consideration payable to the shareholders of ALPHANET shall consist solely of cash;
WHEREAS, CIBER desires to acquire the business and properties of ALPHANET by means of a merger of CIBER SUB with and into ALPHANET on the terms and conditions set forth herein and in the Certificate of Merger attached hereto as Exhibit A;
WHEREAS, the separate existence of CIBER SUB shall cease at the Effective Time (as defined herein) and ALPHANET shall survive as a wholly owned subsidiary of CIBER; and
WHEREAS, concurrent with the execution and delivery of this Agreement, certain shareholders of ALPHANET shall have executed and delivered to CIBER an agreement dated as of the date hereof, in substantially the form of Exhibit B (the "Voting Agreement"), under which such shareholders, among other things, grant to CIBER the right to vote their shares of ALPHANET common stock in favor of such merger and to grant CIBER the option to purchase their shares for the Merger Consideration (as defined below).
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties and agreements herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
ARTICLE I
DEFINITIONS
Section 1.1 Definitions.
As used in this Agreement, the following terms shall have the meanings set forth below:
"ALPHANET Common Stock" means the common stock, $0.01 par value per share, of ALPHANET.
"ALPHANET Material Adverse Effect" means an event, violation, inaccuracy, circumstance or other matter that had or would reasonably be expected to have a material adverse effect on (i) the business, condition, capitalization, assets, liabilities, operations or financial performance of ALPHANET and its Subsidiaries, taken as a whole, (ii) the ability of ALPHANET to consummate the Merger or any of the other transactions contemplated by this Agreement or to perform any of its obligations under this Agreement, and (iii) CIBER's ability to vote, receive dividends with respect to or otherwise exercise ownership rights with respect to the stock of the Surviving Corporation.
A-5
Table of Contents
"ALPHANET SEC Reports" means all forms, reports, schedules, registration statements, definitive proxy statements and other documents filed, or required to be filed, by ALPHANET with the SEC after December 31, 2001, including certifications and other documents which accompany such filings.
"ALPHANET Stock Plans" means the ALPHANET 1995 Stock Plan, as amended, and the ALPHANET 1995 Non-Employee Director Stock Option Plan, as amended.
"Business Day" means any day on which banks are not required or authorized to close in the State of Colorado or the State of New Jersey.
"CIBER Closing Stock Price" means the average of the daily closing prices of a share of CIBER Common Stock on the New York Stock Exchange ("NYSE") for the five (5) consecutive trading days ended three days prior to the Closing Date; however, if such average closing price is less than $4.75, then the CIBER Closing Stock Price shall be $4.75, and if such average closing price is greater than $6.75, then the CIBER Closing Stock Price shall be $6.75.
"CIBER Common Stock" means the common stock, $0.01 par value per share, of CIBER, including the preferred stock purchase right under the CIBER rights plan.
"CIBER Material Adverse Effect" means an event, violation, inaccuracy, circumstance or other matter that had or would reasonably be expected to have a material adverse effect on (i) the ability of CIBER or CIBER SUB to consummate the Merger or any of the other transactions contemplated by this Agreement or to perform any of their respective obligations under this Agreement, or (ii) the ability of the holders of record of ALPHANET Common Stock to receive the Merger Consideration, (iii) the ability of the employees of ALPHANET to receive at Closing the cash amounts they are entitled to receive pursuant to this Agreement, or after Closing, the CIBER Stock Options they are entitled to receive pursuant to this Agreement for their ALPHANET Stock Options, or at Closing the cash payments they are entitled to receive under the Change of Control Agreements.
"CIBER SEC Reports" means all forms, reports, schedules, registration statements, definitive proxy statements and other documents filed, or required to be filed, by CIBER with the SEC after December 31, 2001, including certifications and other documents which accompany such filings.
"COBRA" means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.
"EBITA" means earnings before interest, taxes and amortization, determined in accordance with past practices of ALPHANET.
"Environmental Laws" means any statute, law, ordinance, regulation, rule, judgment, decree or order of any Governmental Entity relating to any matter of pollution, protection of the environment, environmental regulation or control regarding Hazardous Substances.
"ERISA" means the Employee Retirement Income Security Act of 1974, as amended.
"Exchange Act" means the Securities Exchange Act of 1934, as amended.
"Expenses" includes all out-of-pocket expenses (including, without limitation, all fees and expenses of counsel, accountants, investment bankers, experts and consultants to CIBER hereto and its affiliates) incurred by CIBER or on its behalf in connection with or related to the authorization, preparation, negotiation, execution and performance of this Agreement and the transactions contemplated hereby.
"GAAP" means generally accepted accounting principles.
115019
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CIBER
As referenced in this Agreement and Plan of Merger [Amended and Restated]:
CIBER, INC. – 2.1 3 dex21.htm AMENDED AND RESTATED AGREEMENT AND PLAN OF MERGER
Table of Contents
EXHIBIT 2.1
AMENDED AND RESTATED
AGREEMENT AND PLAN OF MERGER
BY AND AMONG
CIBER, INC. ,
CIBER ACQUISITION CORPORATION
AND
ALPHANET SOLUTIONS, INC.
Table of Contents
TABLE OF CONTENTS
Page
ARTICLE I
DEFINITIONS
A-5
Section 1.1
Definitions
A-5
ARTICLE II
EXCHANGE
A-
_____________
CIBER, INC. – of Contents
AMENDED AND RESTATED
AGREEMENT AND PLAN OF MERGER
THIS AMENDED AND RESTATED AGREEMENT AND PLAN OF MERGER (this "Agreement") dated as of April 21, 2003, by and among CIBER, INC. , a Delaware corporation ("CIBER"), CIBER ACQUISITION CORPORATION, a New Jersey corporation and wholly owned subsidiary of CIBER ("CIBER SUB"), and ALPHANET SOLUTIONS, INC., a New Jersey corporation ("ALPHANET").
RECITALS
_____________
CIBER, Inc. – Lunin
Pitney Hardin, Kipp & Szuch LLP
200 Campus Drive
Post Office Box 1945
Morristown, New Jersey 07962-1945
Telephone: (973) 966-8200
Facsimile: (973) 966-1015
If to CIBER:
CIBER, Inc.
5251 DTC Parkway, Suite 1400
Greenwood Village, Colorado 80111
Attention: David Durham
Telephone: (303) 220-0100
Facsimile: (303) 267-3899
with a copy to (which shall not constitute notice):
_____________
CIBER, Inc. – remedy.
A-38
Table of Contents
IN WITNESS WHEREOF, the parties have executed and delivered, on this 6th day of May, 2003, this Agreement dated as of April 21, 2003.
CIBER, Inc. ,
a Delaware corporation
By:
/S/ DAVID G. DURHAM
Name: David G. Durham
Title: Sr. Vice President/CFO
CIBER Acquisition Corporation,
a New Jersey corporation
By:
/S/ DAVID G. DURHAM
_____________
CIBER, INC. – the effect set forth in Section 14A:10-6 of the NJBCA.
A-43
Table of Contents
EXHIBIT B
VOTING AND OPTION AGREEMENT
DATED AS OF APRIL 21, 2003
BETWEEN
CIBER, INC.
AND
STAN GANG
AND
FALLEN ANGEL EQUITY FUND, L.P.
A-44
Table of Contents
VOTING AND OPTION AGREEMENT
VOTING AND OPTION AGREEMENT, dated as of April 21, 2003,
_____________
dt 1484806
;
CIBER
As referenced in this Agreement and Plan of Merger [Amended and Restated]:
CIBER, INC. – 2.1 3 dex21.htm AMENDED AND RESTATED AGREEMENT AND PLAN OF MERGER
Table of Contents
EXHIBIT 2.1
AMENDED AND RESTATED
AGREEMENT AND PLAN OF MERGER
BY AND AMONG
CIBER, INC. ,
CIBER ACQUISITION CORPORATION
AND
ALPHANET SOLUTIONS, INC.
Table of Contents
TABLE OF CONTENTS
Page
ARTICLE I
DEFINITIONS
A-5
Section 1.1
Definitions
A-5
ARTICLE II
EXCHANGE
A-
_____________
CIBER, INC. – of Contents
AMENDED AND RESTATED
AGREEMENT AND PLAN OF MERGER
THIS AMENDED AND RESTATED AGREEMENT AND PLAN OF MERGER (this "Agreement") dated as of April 21, 2003, by and among CIBER, INC. , a Delaware corporation ("CIBER"), CIBER ACQUISITION CORPORATION, a New Jersey corporation and wholly owned subsidiary of CIBER ("CIBER SUB"), and ALPHANET SOLUTIONS, INC., a New Jersey corporation ("ALPHANET").
RECITALS
_____________
CIBER, Inc. – Lunin
Pitney Hardin, Kipp & Szuch LLP
200 Campus Drive
Post Office Box 1945
Morristown, New Jersey 07962-1945
Telephone: (973) 966-8200
Facsimile: (973) 966-1015
If to CIBER:
CIBER, Inc.
5251 DTC Parkway, Suite 1400
Greenwood Village, Colorado 80111
Attention: David Durham
Telephone: (303) 220-0100
Facsimile: (303) 267-3899
with a copy to (which shall not constitute notice):
_____________
CIBER, Inc. – remedy.
A-38
Table of Contents
IN WITNESS WHEREOF, the parties have executed and delivered, on this 6th day of May, 2003, this Agreement dated as of April 21, 2003.
CIBER, Inc. ,
a Delaware corporation
By:
/S/ DAVID G. DURHAM
Name: David G. Durham
Title: Sr. Vice President/CFO
CIBER Acquisition Corporation,
a New Jersey corporation
By:
/S/ DAVID G. DURHAM
_____________
CIBER, INC. – the effect set forth in Section 14A:10-6 of the NJBCA.
A-43
Table of Contents
EXHIBIT B
VOTING AND OPTION AGREEMENT
DATED AS OF APRIL 21, 2003
BETWEEN
CIBER, INC.
AND
STAN GANG
AND
FALLEN ANGEL EQUITY FUND, L.P.
A-44
Table of Contents
VOTING AND OPTION AGREEMENT
VOTING AND OPTION AGREEMENT, dated as of April 21, 2003,
_____________
dt 1484822
;
 CTC
As referenced in this Agreement and Plan of Merger [Amended and Restated]:
Corporation Trust Company. – name and address of the Corporation's initial registered agent at such address is The Corporation Trust Company.
SIXTH: The name of address of the incorporator is Michelle H. Shepston, Davis Graham &
dt 46755
;
|
 Pitney Hardin
As referenced in this Agreement and Plan of Merger [Amended and Restated]:
Pitney, Hardin – Agreements specified in Section 5.6(a).
(f) CIBER shall have received the opinion of Pitney, Hardin , Kipp & Szuch LLP, ALPHANET's counsel dated as of the Closing Date, as
Pitney Hardin, – Facsimile: (973) 643-0098
With a copy to (which shall not constitute notice):
Joseph Lunin
Pitney Hardin, Kipp & Szuch LLP
200 Campus Drive
Post Office Box 1945
Morristown, New Jersey
dt 33254
;
Ciber Acquisition Corporation;
Alphanet Solutions Inc.
|
| Preview
Full Doc
| 2002 |
Agreement and Plan of Merger
Agreement and Plan of Merger (230K)
Doc #124878: Click preview link for longer preview.
AGREEMENT AND PLAN OF MERGER
BY AND AMONG
YAHOO! INC.
DECEMBER 2002 ACQUISITION CORP.
AND INKTOMI CORPORATION
DATED AS OF DECEMBER 22, 2002
{PAGE}
TABLE OF CONTENTS
{TABLE}
{S} {C}
ARTICLE I THE MERGER............................................................................................. 1
1.1 The Merger........................................................................................... 1
1.2 Effective Time; Closing.............................................................................. 2
1.3 Effect of the Merger................................................................................. 2
1.4 Certificate of Incorporation and Bylaws.............................................................. 2
1.5 Directors and Officers............................................................................... 2
1.6 Effect on Capital Stock.............................................................................. 2
1.7 Surrender of Certificates............................................................................ 3
1.8 Dissenting Shares.................................................................................... 5
1.9 No Further Ownership Rights in Company Common Stock.................................................. 5
1.10 Lost, Stolen or Destroyed Certificates............................................................... 5
1.11 Further Action....................................................................................... 6
ARTICLE II REPRESENTATIONS AND WARRANTIES OF THE COMPANY......................................................... 6
2.1 Organization of the Company.......................................................................... 6
2.2 Company Capital Structure............................................................................ 7
2.3 Obligations With Respect to Capital Stock............................................................ 8
2.4 Authority; Non-Contravention; Necessary Consents..................................................... 9
2.5 SEC Filings; Company Financial Statements............................................................ 10
2.6 Absence of Certain Changes or Events................................................................. 11
2.7 Taxes................................................................................................ 14
2.8 Title to Properties; Absence of Liens and Encumbrances............................................... 16
2.9 Intellectual Property................................................................................ 16
2.10 Compliance with Laws; Permits; Restrictions.......................................................... 21
2.11 Litigation........................................................................................... 21
2.12 Employee Benefit Plans............................................................................... 21
2.13 Environmental Matters................................................................................ 26
2.14 Agreements, Contracts and Commitments................................................................ 26
2.15 Information in Proxy Statement....................................................................... 28
2.16 Rights Plan.......................................................................................... 28
2.17 State Takeover Statutes.............................................................................. 29
2.18 Board Approval....................................................................................... 29
2.19 Brokers' and Finders' Fees........................................................................... 29
2.20 Opinion of Financial Advisor......................................................................... 29
2.21 Insurance............................................................................................ 29
2.22 Personnel............................................................................................ 29
2.23 Potential Conflict of Interest....................................................................... 30
ARTICLE III REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUB.............................................. 30
3.1 Organization of Parent and Merger Sub................................................................ 30
3.2 Authority; Non-Contravention; Necessary Consents..................................................... 30
3.3 Information in Proxy Statement....................................................................... 31
3.4 Merger Sub........................................................................................... 32
{/TABLE}
i
{PAGE}
{TABLE}
{S} {C}
3.5 Financing............................................................................................ 32
ARTICLE IV CONDUCT PRIOR TO THE EFFECTIVE TIME................................................................... 32
4.1 Conduct of Business by the Company................................................................... 32
4.2 Acquisition Proposals................................................................................ 36
ARTICLE V ADDITIONAL AGREEMENTS.................................................................................. 39
5.1 Proxy Statement...................................................................................... 39
5.2 Meeting of Company Stockholders; Board Recommendation................................................ 39
5.3 Confidentiality; Access to Information............................................................... 40
5.4 Public Disclosure.................................................................................... 41
5.5 Regulatory Filings; Reasonable Efforts............................................................... 41
5.6 Notification of Certain Matters...................................................................... 42
5.7 Company Option Plans; Employee Stock Purchase Plan................................................... 42
5.8 Form S-8............................................................................................. 44
5.9 Company Rights Agreement............................................................................. 44
5.10 Subsequent Financial Statements...................................................................... 44
5.11 Conveyance Taxes..................................................................................... 44
5.12 Indemnification...................................................................................... 45
5.13 Silicon Valley Bank Facility......................................................................... 45
ARTICLE VI CONDITIONS TO THE MERGER.............................................................................. 46
6.1 Conditions to the Obligations of Each Party to Effect the Merger..................................... 46
6.2 Additional Conditions to the Obligations of the Company.............................................. 46
6.3 Additional Conditions to the Obligations of Parent................................................... 47
ARTICLE VII TERMINATION, AMENDMENT AND WAIVER.................................................................... 48
7.1 Termination.......................................................................................... 48
7.2 Notice of Termination; Effect of Termination......................................................... 50
7.3 Fees and Expenses.................................................................................... 50
7.4 Amendment............................................................................................ 51
7.5 Extension; Waiver.................................................................................... 51
ARTICLE VIII GENERAL PROVISIONS.................................................................................. 51
8.1 Non-Survival of Representations and Warranties....................................................... 51
8.2 Notices.............................................................................................. 52
8.3 Interpretation; Certain Defined Terms................................................................ 52
8.4 Counterparts......................................................................................... 54
8.5 Entire Agreement; Third Party Beneficiaries.......................................................... 54
8.6 Severability......................................................................................... 54
8.7 Other Remedies; Specific Performance................................................................. 54
8.8 Governing Law........................................................................................ 54
8.9 Rules of Construction................................................................................ 55
8.10 Assignment........................................................................................... 55
8.11 No Waiver; Remedies Cumulative....................................................................... 55
8.12 Waiver of Jury Trial................................................................................. 55
{/TABLE}
ii
{PAGE}
INDEX OF EXHIBITS
Exhibit A Form of Voting Agreement
Exhibit B Form of Amended Certificate of Incorporation
iii
{PAGE}
INDEX OF DEFINED TERMS
{TABLE}
{S} {C}
ACQUISITION...................................................................................................... 51
ACQUISITION PROPOSAL............................................................................................. 38
ACTION OF DIVESTITURE............................................................................................ 42
AFFILIATES....................................................................................................... 53
AGREEMENT........................................................................................................ 1
BALANCE SHEET DATE............................................................................................... 11
CERTIFICATE OF MERGER............................................................................................ 2
CERTIFICATES..................................................................................................... 4
CHANGE OF RECOMMENDATION......................................................................................... 37
CHANGE OF RECOMMENDATION NOTICE.................................................................................. 37
CLOSING.......................................................................................................... 2
CLOSING DATE..................................................................................................... 2
COBRA............................................................................................................ 21
CODE............................................................................................................. 4
COMPANY.......................................................................................................... 1
COMPANY BALANCE SHEET............................................................................................ 11
COMPANY BOARD OF DIRECTORS....................................................................................... 1
COMPANY COMMON STOCK............................................................................................. 2
COMPANY DISCLOSURE LETTER........................................................................................ 6
COMPANY EMPLOYEE PLAN............................................................................................ 21
COMPANY FINANCIAL STATEMENTS..................................................................................... 11
COMPANY INSIDER.................................................................................................. 43
COMPANY INTELLECTUAL PROPERTY RIGHTS............................................................................. 16
COMPANY OPTION................................................................................................... 42
COMPANY OPTION PLAN.............................................................................................. 43
COMPANY OPTIONS.................................................................................................. 42
COMPANY PERMITS.................................................................................................. 21
COMPANY PREFERRED STOCK.......................................................................................... 7
COMPANY RIGHTS................................................................................................... 2
COMPANY RIGHTS AGREEMENT......................................................................................... 2
COMPANY SEC REPORTS.............................................................................................. 11
COMPANY STOCKHOLDERS' MEETING.................................................................................... 39
COMPUTER SOFTWARE................................................................................................ 16
CONFIDENTIALITY AGREEMENT........................................................................................ 37
COPYRIGHTS....................................................................................................... 17
CURRENT ANNUAL PREMIUM AMOUNT.................................................................................... 45
DGCL............................................................................................................. 1
DISCONTINUED BUSINESS............................................................................................ 53
DISSENTING SHARES................................................................................................ 5
DOJ.............................................................................................................. 41
DOL.............................................................................................................. 22
DOMAIN NAMES..................................................................................................... 17
EC MERGER REGULATION............................................................................................. 10
EFFECTIVE TIME................................................................................................... 2
{/TABLE}
i
{PAGE}
{TABLE}
{S} {C}
EMPLOYEE......................................................................................................... 22
EMPLOYEE AGREEMENT............................................................................................... 22
END DATE......................................................................................................... 48
ERISA............................................................................................................ 22
ERISA AFFILIATE.................................................................................................. 22
ESPP............................................................................................................. 43
EXCHANGE ACT..................................................................................................... 10
FMLA............................................................................................................. 22
FTC.............................................................................................................. 41
GAAP............................................................................................................. 11
GOVERNMENTAL ENTITY.............................................................................................. 10
GROUP............................................................................................................ 38
HAZARDOUS MATERIAL............................................................................................... 26
HAZARDOUS MATERIALS ACTIVITIES................................................................................... 26
HSR ACT.......................................................................................................... 10
INDEBTEDNESS..................................................................................................... 27
INDEMNIFIED PARTIES.............................................................................................. 45
INTELLECTUAL PROPERTY RIGHTS..................................................................................... 17
IRS.............................................................................................................. 22
KNOWLEDGE........................................................................................................ 53
LEGAL REQUIREMENT................................................................................................ 9
LICENSE AGREEMENTS............................................................................................... 17
LICENSED INTELLECTUAL PROPERTY RIGHTS............................................................................ 17
LIENS............................................................................................................ 7
MATERIAL ADVERSE EFFECT.......................................................................................... 53
MERGER........................................................................................................... 1
MERGER CONSIDERATION............................................................................................. 3
MERGER FUND...................................................................................................... 3
MERGER SUB....................................................................................................... 1
MERGER SUB COMMON STOCK.......................................................................................... 3
MULTIEMPLOYER PLAN............................................................................................... 22
MULTIPLE EMPLOYER PLAN........................................................................................... 22
NASDAQ........................................................................................................... 12
NECESSARY CONSENTS............................................................................................... 10
NEW EXERCISE DATE................................................................................................ 43
NON-PLAN OPTION AGREEMENTS....................................................................................... 7
OPTION EXCHANGE RATIO............................................................................................ 43
PARENT........................................................................................................... 1
PARENT DISCLOSURE LETTER......................................................................................... 30
PARKSIDE LEASE TERMINATION AGREEMENT............................................................................. 16
PATENTS.......................................................................................................... 17
PAYING AGENT..................................................................................................... 3
PENSION PLAN..................................................................................................... 22
PERMITTED LEINS.................................................................................................. 16
PERSON........................................................................................................... 53
PORTFOLIO COMPANIES.............................................................................................. 6
{/TABLE}
ii
{PAGE}
{TABLE}
{S} {C}
PRE-CLOSING TAX PERIOD........................................................................................... 14
PROXY STATEMENT.................................................................................................. 28
REGISTERED INTELLECTUAL PROPERTY................................................................................. 17
REPRESENTATIVES.................................................................................................. 40
RETURNS.......................................................................................................... 15
SECURITIES ACT................................................................................................... 10
SHARES........................................................................................................... 2
SUBSIDIARY....................................................................................................... 53
SUPERIOR OFFER................................................................................................... 38
SURVIVING CORPORATION............................................................................................ 2
TAX.............................................................................................................. 14
TAXING AUTHORITY................................................................................................. 14
TAX CLAIM........................................................................................................ 13
TERMINATION FEE.................................................................................................. 50
THE BUSINESS OF.................................................................................................. 53
TRADE SECRETS.................................................................................................... 17
TRADEMARKS....................................................................................................... 17
TRIGGERING EVENT................................................................................................. 49
TWP.............................................................................................................. 29
VOTING AGREEMENTS................................................................................................ 1
WARN ACT......................................................................................................... 25
WHCRA............................................................................................................ 22
{/TABLE}
iii
{PAGE}
AGREEMENT AND PLAN OF MERGER
THIS AGREEMENT AND PLAN OF MERGER (this "AGREEMENT"), is entered into
as of December 22, 2002 by and among Yahoo! Inc., a Delaware corporation
("PARENT"), December 2002 Acquisition Corp., a Delaware corporation and a
direct, wholly-owned subsidiary of Parent ("MERGER SUB"), and Inktomi
Corporation, a Delaware corporation (the "COMPANY").
RECITALS
A. The Board of Directors of each of Parent, Merger Sub and the
Company has approved, and deems it advisable and in the best interests of its
respective stockholders to consummate the acquisition of the Company by Parent
upon the terms and subject to the conditions set forth herein.
B. The Board of Directors of each of Parent, Merger Sub and the
Company has unanimously (in the case of Parent, with one director abstaining)
approved this Agreement and the transactions contemplated hereby, including the
Merger (as defined in Section 1.1), in accordance with the Delaware General
Corporation Law ("DGCL") and upon the terms and subject to the conditions set
forth herein.
C. The Board of Directors of the Company (the "COMPANY BOARD OF
DIRECTORS") has resolved to recommend to its stockholders approval and adoption
of this Agreement and approval of the Merger and the transactions contemplated
hereby.
D. Parent, as the sole stockholder of Merger Sub, has approved
and adopted this Agreement and approved the Merger.
E. Concurrently with the execution and delivery of this
Agreement, and as a condition and inducement to Parent's and Merger Sub's
willingness to enter into this Agreement, certain stockholders of the Company
are entering into Voting Agreements in the form attached hereto as Exhibit A
(the "VOTING AGREEMENTS").
F. Parent, Merger Sub and the Company desire to make certain
representations, warranties, covenants and agreements in connection with the
Merger and also to prescribe certain conditions to the Merger.
NOW, THEREFORE, in consideration of the foregoing and the respective
covenants, agreements, representations and warranties set forth herein, the
parties agree as follows:
ARTICLE I
THE MERGER
1.1 The Merger. At the Effective Time (as defined in Section
1.2) and subject to and upon the terms and conditions of this Agreement and the
applicable provisions of the DGCL, Merger Sub shall be merged with and into the
Company (the "MERGER"), the separate corporate existence of Merger Sub shall
cease and the Company shall continue as the surviving
{PAGE}
corporation. The Company, as the surviving corporation after the Merger, is
hereinafter sometimes referred to as the "SURVIVING CORPORATION."
1.2 Effective Time; Closing. Subject to the provisions of this
Agreement, the parties hereto shall cause the Merger to be consummated by filing
a Certificate of Merger with the Secretary of State of the State of Delaware in
accordance with the relevant provisions of the DGCL (the "CERTIFICATE OF
MERGER") (the time of such filing with the Secretary of State of the State of
Delaware (or such later time as may be agreed upon in writing by the Company and
Parent and specified in the Certificate of Merger) being the "EFFECTIVE TIME")
as soon as practicable on or after the Closing Date (as defined below). The
closing of the Merger (the "CLOSING") shall take place at the offices of Davis
Polk & Wardwell, located at 1600 El Camino Real, Menlo Park, California, at a
time and date to be specified by the parties, which shall be no later than the
second business day after the satisfaction or waiver of the conditions set forth
in Article VI (other than those conditions that by their nature are to be
satisfied at the Closing, but subject to the satisfaction or waiver of those
conditions), or at such other time, date and location as the parties hereto
agree in writing (the "CLOSING DATE").
124878
|
EOP Operating
As referenced in this Agreement and Plan of Merger:
EOP
Operating Limited Partnership – LEASE
TERMINATION AGREEMENT") between Gateway Phoenix Associates, L.P. and 5990
Sepulveda Associates, L.P., as landlord, and the Company, as tenant, and EOP
Operating Limited Partnership , terminating the First Amended and Restated Lease
dated March 10, 2002. Neither the Company, any of its subsidiaries nor, the
knowledge of
_____________
dt 117087
;
EOP Operating
As referenced in this Agreement and Plan of Merger:
EOP
Operating Limited Partnership – LEASE
TERMINATION AGREEMENT") between Gateway Phoenix Associates, L.P. and 5990
Sepulveda Associates, L.P., as landlord, and the Company, as tenant, and EOP
Operating Limited Partnership , terminating the First Amended and Restated Lease
dated March 10, 2002. Neither the Company, any of its subsidiaries nor, the
knowledge of
_____________
dt 117087
;
Regents of UC
As referenced in this Agreement and Plan of Merger:
Regents of the University of
California – California at
Berkeley, that is subject to the provisions of Section 12(b)(i) of the "Software
License Between Inktomi Corporation and the Regents of the University of
California for UC Berkeley Search Engine Software" dated May 31, 1996.
(p) No current or former stockholder, member, partner,
director, officer or employee of
_____________
dt 182761
;
|
SVB
As referenced in this Agreement and Plan of Merger:
Silicon Valley Bank – 5.9 Company Rights Agreement............................................................................. 44
5.10 Subsequent Financial Statements...................................................................... 44
5.11 Conveyance Taxes..................................................................................... 44
5.12 Indemnification...................................................................................... 45
5.13 Silicon Valley Bank Facility......................................................................... 45
ARTICLE VI CONDITIONS TO THE MERGER.............................................................................. 46
6.1 Conditions to the Obligations of Each Party to Effect the Merger..................................... 46
_____________
Silicon Valley Bank; – other material
liability or enter into any arrangement having the economic effect of any of the
foregoing other than under existing arrangements with Silicon Valley Bank;
(m) Adopt or amend any employee benefit plan or employee
stock purchase or employee stock option plan, or enter into any employment
_____________
Silicon Valley Bank – be binding on all successors and assigns of the
Surviving Corporation and Parent, and shall be enforceable by the Indemnified
Parties.
5.13 Silicon Valley Bank Facility. Upon the request of Parent,
the Company agrees to discuss in good faith with Parent the potential repayment
of obligations pursuant to
_____________
Silicon Valley
Bank, – the Company agrees to discuss in good faith with Parent the potential repayment
of obligations pursuant to the Company's credit agreement with Silicon Valley
Bank, and the discharge of the security interests and liens associated
therewith, prior to the Effective Time; provided that (i) the Company shall
_____________
dt 126928
;
Thomas Weisel
As referenced in this Agreement and Plan of Merger:
Thomas
Weisel Partners LLC – by the Company Board of Directors has been amended, rescinded
or modified.
2.19 Brokers' and Finders' Fees. Except for fees payable to Thomas
Weisel Partners LLC ("TWP") pursuant to its engagement letter with the Company
dated November 20, 2002, the Company has not incurred, nor will it incur,
_____________
dt 266160
;
More... |
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| 2003 |
Agreement and Plan of Merger and Reorganization
Agreement and Plan of Merger and Reorganization (114K)
Doc #130953: Click preview link for longer preview.
AGREEMENT AND PLAN OF MERGER AND REORGANIZATION
This Agreement and Plan of Merger and Reorganization (this "Agreement")
dated as of December 14, 2001, is by and among Open Solutions Inc. ("OSI"), a
Delaware corporation; OSI Merger Corporation ("Merger Sub"), a Delaware
corporation that is a wholly owned subsidiary of OSI; Imagic Corporation (the
"Company"), a Tennessee corporation; and the stockholders of the Company listed
in the attached signature pages (the "Stockholders").
The parties desire that the Company be merged with and into Merger Sub
(the "Merger") and become a wholly owned subsidiary of OSI, on the terms and
conditions set forth in this Agreement. The parties intend (but no party
represents, warrants, or promises) that the Merger qualify as a "reorganization"
under the provisions of Section 368(a) of the Internal Revenue Code of 1986, as
amended.
The parties agree as follows:
(Certain terms used in this Agreement are defined in Section 10
hereof.)
1. CLOSING. Upon execution and delivery of this Agreement, a
closing (the "Closing") will be held at the offices of Bingham Dana LLP, 150
Federal Street, Boston, Massachusetts 02110.
At or before the Closing, Merger Sub and the Company will execute a
certificate of merger and articles of merger (collectively, the "Merger
Certificates") substantially in the form of the attached Exhibits A-1 and A-2,
respectively, and file them with the respective Secretaries of State of Delaware
and Tennessee in order to cause the Merger to be effected in accordance with the
laws of the States of Delaware and Tennessee. The Merger will be effective upon
the filing of the Merger Certificates (the "Effective Time").
At the Closing, each of the parties will also deliver the closing
documents described in the attached Closing Documents Schedule. For all
purposes, all of the document deliveries and other actions to occur at the
Closing will be conclusively presumed to have occurred at the same time,
immediately before the Effective Time. The date on which the Effective Time
occurs is referred to herein as the "Closing Date."
2. EFFECT OF MERGER. At the Effective Time, automatically and
without further action:
2.1. SURVIVING CORPORATION. The Company will be merged with and
into Merger Sub and the separate existence of the Company will cease. Merger Sub
will continue in existence as the surviving corporation in the Merger (the
"Surviving Corporation"). The effect of the Merger will be as provided in the
applicable provisions of this Agreement, the Delaware General Corporation Law,
and the Tennessee Business Corporation Act, including that all of the respective
properties, rights, privileges, powers, and franchises of Merger Sub and the
Company will vest in the Surviving Corporation, and all of the respective debts,
liabilities, and duties of Merger Sub and the Company will become the debts,
liabilities, and duties of the Surviving Corporation.
{PAGE}
- 2 -
2.2. CERTIFICATE OF INCORPORATION AND BY-LAWS. Merger Sub's
certificate of incorporation and by-laws, respectively, as in effect immediately
before the Effective Time, will be the certificate of incorporation and by-laws
of the Surviving Corporation.
2.3. DIRECTORS AND OFFICERS. From and after the Effective Time, the
respective officers and members of the Board of Directors of Merger Sub as of
immediately prior to the Effective Time will continue in office as the officers
and directors of the Surviving Corporation, subject to change from time to time
in accordance with the Delaware General Corporation Law and the Surviving
Corporation's certificate of incorporation and by-laws.
2.4. CONVERSION OF COMPANY'S STOCK. The shares of the Company's
capital stock issued and outstanding immediately before the Effective Time will
be converted into and become the right to receive, subject to Sections 2.5 and 3
hereof, an aggregate of (i) 456,009 shares (the "Consideration Shares") of OSI's
Common Stock, $0.01 par value per share, and (ii) cash in the amount of
$1,807,775 (the "Cash Consideration"; and collectively, the Consideration Shares
and the Cash Consideration, the "Merger Consideration"). Based in part on the
representations and warranties of the Company and the Stockholders set forth in
this Agreement, including representations and warranties with respect to the
capitalization of the Company, each Stockholder will be entitled, subject to
Section 3 hereof, to receive the types and amounts of Merger Consideration
indicated opposite such Stockholder's name in the attached Merger Consideration
Schedule.
2.5. ESCROW. Notwithstanding any other provision hereof, OSI will
withhold a portion of the Merger Consideration and will not deliver it to the
Stockholders but instead will deposit it in escrow pursuant to an escrow
agreement substantially in the form of the attached Exhibit B, with such changes
as the escrow agent (who will be chosen as promptly as practicable after the
Closing and must be mutually satisfactory to OSI and the Stockholders) may
reasonably request to secure the Stockholders' indemnification obligations
hereunder. The Merger Consideration to be withheld and escrowed will be as shown
in the attached Merger Consideration Schedule. OSI will deposit such withheld
Merger Consideration into escrow as promptly as practicable following the
selection of the escrow agent and the execution and delivery of the escrow
agreement by all parties.
Upon the final resolution of each of the following matters, the parties
will cause to be released from escrow and delivered to the Stockholders in
accordance with their respective entitlements thereto, cash in an amount equal
to the excess, if any, of (i) $25,000, over (ii) the aggregate cost, if any, to
the Surviving Corporation of finally resolving and settling the matter at issue:
(1) The dispute with OnTrack referred to in Section 4.16 of the
Company Disclosure Schedule (the "OnTrack Dispute").
(2) The dispute with Bank of Naples referred to in Section 4.16 of
the Company Disclosure Schedule (the "Bank of Naples
Dispute"). .
2.6. REGISTRATION RIGHTS. From and after any time at which OSI
becomes a public company having a class of equity securities registered pursuant
to Section 13 or 15 of the
130953
|
Open Solutions
As referenced in this Agreement and Plan of Merger and Reorganization:
Open Solutions Inc. – Exhibit 2.2
AGREEMENT AND PLAN OF MERGER AND REORGANIZATION
This Agreement and Plan of Merger and Reorganization (this "Agreement")
dated as of December 14, 2001, is by and among Open Solutions Inc. ("OSI"), a
Delaware corporation; OSI Merger Corporation ("Merger Sub"), a Delaware
corporation that is a wholly owned subsidiary of OSI; Imagic Corporation (the
"Company"), a Tennessee corporation; and the
_____________
Open Solutions Inc. – party may
have furnished to the sending party for the purpose pursuant to this section):
(a) If to OSI, Merger Sub, or the Surviving Corporation, to or in
care of:
Open Solutions Inc.
300 Winding Brook Drive
Glastonbury, Connecticut 06430
Telecopier No. (860) 815-5661
{PAGE}
- 30 -
with a copy sent at the same time and by the same means to:
Brian
_____________
OPEN SOLUTIONS INC. – monitoring his or her investment in
OSI.
[The rest of this page is intentionally left blank.]
{PAGE}
Executed and delivered under seal as of the date first above written.
OSI: OPEN SOLUTIONS INC.
By: /s/ Louis Hernandez, Jr.
---------------------------------------
Name:
Title:
MERGER SUB: OSI MERGER CORPORATION
By: /s/ Michael D. Nicastro
---------------------------------------
Name: Michael D. Nicastro
Title: President
COMPANY: IMAGIC CORPORATION
By: /s/ Kathy
_____________
Open Solutions Inc. – b)(2) of Regulation S-K promulgated by the
Securities and Exchange Commission (the "Commission") under the Securities Act
of 1933, as amended and the Securities Exchange Act of 1934, Open Solutions Inc.
(the "Company") has, with respect to the Agreement and Plan of Merger and
Reorganization between the Company, OSI Merger Corporation, Imagic Corporation
and the stockholders listed therein dated December
_____________
dt 1543404
;
| OSI Merger Corporation;
Imagic Corporation
|
| Preview
Full Doc
| 2003 |
Agreement and Plan of Reorganization
Agreement and Plan of Reorganization (151K)
Doc #132336: Click preview link for longer preview.
AGREEMENT AND PLAN OF REORGANIZATION
AGREEMENT AND PLAN OF REORGANIZATION, DATED AS OF August 11, 2003 (this Agreement), by and among Primus Knowledge Solutions, Inc., a Washington corporation (Parent), Q Merger Corp., a wholly-owned Delaware subsidiary of Parent (Sub), Broad Daylight, Inc., a Delaware corporation (Company), and, solely for purposes of Article VII, Heidi Roizen as the agent for the Share Recipients (as defined below) (Holders Representative).
RECITALS
INTENDING TO BE LEGALLY BOUND, and in consideration of the premises and the mutual representations, warranties, covenants and agreements contained herein, Parent, Sub, Company and Holders Representative hereby agree as follows:
ARTICLE I
THE MERGER
1.1 Effective Time of the Merger. Subject to the provisions of this Agreement, Sub will be merged into Company (the Merger). A Certificate of Merger and any other required documents (collectively the Merger Documents), substantially in the form attached as Exhibit 1.1 shall be duly prepared, executed and acknowledged by Company, Parent, and Sub, and delivered to the Secretary of State of Delaware for filing, as provided in the Delaware General Corporation Law (the DGCL) at the Closing (as defined in Section 1.2 of this Agreement). The Merger shall become effective at such time as the Merger Documents have been accepted for filing by the Secretary of State of Delaware (the Effective Time).
1.2 Closing. The closing of the Merger (the Closing) will take place on the date and time as soon as reasonably practicable after the satisfaction or waiver of the conditions set forth in Article VI, but in any event, no later than the third business day after such satisfaction or waiver (the Closing Date), at the offices of Preston Gates & Ellis LLP, Seattle, Washington, unless another time, date or place is agreed to by Parent and the Company.
1.3 Effects of the Merger. At the Effective Time: (i) Sub shall be merged with and into Company (Company after the Merger is sometimes referred to herein as the Surviving Corporation), (ii) the Certificate of Incorporation of Sub shall be the Certificate of Incorporation of the Surviving Corporation, (iii) the Bylaws of Sub shall be the Bylaws of the Surviving Corporation, (iv) the directors of Sub shall become the directors of the Surviving Corporation, (v) the officers of Sub shall be the officers of the Surviving Corporation, (vi) the issued and outstanding capital stock of Company shall be converted as set forth in Section 1.4 below, and (vii) the Merger shall, from and after the Effective Time, have all the effects provided by this Agreement and the DGCL.
1.4 Conversion of Company Securities.
1.4.1 Series A-1 Preferred Shares. At the Effective Time, by virtue of the Merger, without any action on the part of the Parent, Sub, Company or the holders of the Company Shares (as defined in Section 2.1.1), each issued and outstanding share of Series A-1 Preferred (as defined in Section 2.1.2) (except for any shares of Series A-1 Preferred which constitute Eligible Dissenting Shares as described in Section 1.4.6) shall be converted into the right to receive that number of shares of Parents common stock, par value $.025 per share, (Parent Common Shares) equal to the quotient of 2,090,000 divided by the total number of issued and outstanding shares of Series A-1 Preferred. The holders of the Series A-1 Preferred entitled to receive Parent Common Shares hereunder are referred to herein collectively as the Share Recipients.
1.4.2 Fractional Securities. No fraction of a Parent Common Share will be issued in connection with the Merger. In lieu of such issuance, all Parent Common Shares issued to the Company stockholders shall be rounded up to the closest whole Parent Common Share.
1.4.3 Escrow Securities. To secure claims by Parent for indemnification pursuant to Article VII, twelve percent (12%) of the Parent Common Shares issuable to each Share Recipient shall be held in escrow (Escrow Shares) pursuant to the Escrow Agreement substantially in the form attached as Exhibit 1.4.3 (Escrow Agreement).
1.4.4 Cash in Lieu of Company Common Shares. At the Effective Time, by virtue of the Merger, without any action on the part of the Parent, Sub, Company or the holders of the Company Shares or Company Options (as defined in Section 1.4.5), each issued and outstanding Company Common Share (except for any Company Common Shares that constitute Eligible Dissenting Shares as described in Section 1.4.6) shall be converted into the right to receive cash consideration equal to (x) the Fair Market Value (as defined below) of 110,000 Parents Common Shares divided by (y) the total number of issued and outstanding Company Common Shares and In-the-Money Options (as defined in Section 1.4.5) held by optionees who have executed In-the-Money Option Acknowledgements (as defined in Section 1.4.5) (the Company Common Per Share Amount). (The aggregate Company Common Per Share Amount is referred to herein as the Cash Consideration and, together with the Parent Common Shares, the Merger Consideration.) Fair Market Value means the average closing price of the Parent Common Shares as publicly reported over the five (5) trading days immediately following the public announcement of this transaction.
1.4.5 Stock Options. Promptly following the execution of this Agreement, Company shall give written notice of this Agreement and the Merger to each of the holders of stock options outstanding under the Companys Option Plans (as defined in Section 2.1.2) (collectively, the Company Options), such notice to be consistent with the terms of the Companys Option Plans and the Company Options. No stock options outstanding under the Companys Option Plans shall be assumed by Parent. Notwithstanding the foregoing, each holder of an unexercised In-the-Money Option (as defined below) shall be entitled to receive in consideration thereof an amount (subject to applicable withholding requirements) in cash equal
132336
|
Primus Knowledge
As referenced in this Agreement and Plan of Reorganization:
PRIMUS KNOWLEDGE SOLUTIONS, INC. – 11, 2003
EX-2.1 3 dex21.htm AGREEMENT AND PLAN OF REORGANIZATION DATED AS OF AUGUST 11, 2003
EXHIBIT 2.1
AGREEMENT AND PLAN OF REORGANIZATION
by and among
PRIMUS KNOWLEDGE SOLUTIONS, INC. ,
BROAD DAYLIGHT, INC.,
Q MERGER CORP.
and
solely for purposes of Article VII
HEIDI ROIZEN,
as Holders Representative
Dated as of August 11, 2003
TABLE OF CONTENTS
ARTICLE I
_____________
Primus Knowledge Solutions, Inc. – Entity
10
Voting Agreement
32
Indemnifiable Amounts
34
-v-
AGREEMENT AND PLAN OF REORGANIZATION
AGREEMENT AND PLAN OF REORGANIZATION, DATED AS OF August 11, 2003 (this Agreement), by and among Primus Knowledge Solutions, Inc. , a Washington corporation (Parent), Q Merger Corp., a wholly-owned Delaware subsidiary of Parent (Sub), Broad Daylight, Inc., a Delaware corporation (Company), and, solely for purposes of Article VII,
_____________
Primus Knowledge Solutions, Inc. – upon written confirmation (other than the automatic confirmation that is received from the recipients facsimile machine) of receipt by the recipient of such notice:
-40-
If to Parent or Sub:
Primus Knowledge Solutions, Inc.
1601 Fifth Avenue, Suite 1900
Seattle, Washington 98101
Attention: Ronald M. Stevens
Telephone No.: (206) 834-8100
Facsimile No.: (206) 834-8111
With a copy to:
Preston Gates &
_____________
PRIMUS KNOWLEDGE SOLUTIONS, INC. – AND PLAN OF REORGANIZATION
IN WITNESS WHEREOF, Parent, Sub, Company and, solely for purposes of Article VII, Holders Representative, have executed this Agreement as of the date first written above.
PRIMUS KNOWLEDGE SOLUTIONS, INC.
BROAD DAYLIGHT, INC.
By
/s/ MICHAEL BROCHU
By
/s/ LOUISE KIRKBRIDE
Michael Brochu
Chief Executive Officer and President
Name
Louise Kirkbride
Title
Solely for purposes of Article VII:
Q
_____________
dt 1368025
;
Primus Knowledge
As referenced in this Agreement and Plan of Reorganization:
PRIMUS KNOWLEDGE SOLUTIONS, INC. – 11, 2003
EX-2.1 3 dex21.htm AGREEMENT AND PLAN OF REORGANIZATION DATED AS OF AUGUST 11, 2003
EXHIBIT 2.1
AGREEMENT AND PLAN OF REORGANIZATION
by and among
PRIMUS KNOWLEDGE SOLUTIONS, INC. ,
BROAD DAYLIGHT, INC.,
Q MERGER CORP.
and
solely for purposes of Article VII
HEIDI ROIZEN,
as Holders Representative
Dated as of August 11, 2003
TABLE OF CONTENTS
ARTICLE I
_____________
Primus Knowledge Solutions, Inc. – Entity
10
Voting Agreement
32
Indemnifiable Amounts
34
-v-
AGREEMENT AND PLAN OF REORGANIZATION
AGREEMENT AND PLAN OF REORGANIZATION, DATED AS OF August 11, 2003 (this Agreement), by and among Primus Knowledge Solutions, Inc. , a Washington corporation (Parent), Q Merger Corp., a wholly-owned Delaware subsidiary of Parent (Sub), Broad Daylight, Inc., a Delaware corporation (Company), and, solely for purposes of Article VII,
_____________
Primus Knowledge Solutions, Inc. – upon written confirmation (other than the automatic confirmation that is received from the recipients facsimile machine) of receipt by the recipient of such notice:
-40-
If to Parent or Sub:
Primus Knowledge Solutions, Inc.
1601 Fifth Avenue, Suite 1900
Seattle, Washington 98101
Attention: Ronald M. Stevens
Telephone No.: (206) 834-8100
Facsimile No.: (206) 834-8111
With a copy to:
Preston Gates &
_____________
PRIMUS KNOWLEDGE SOLUTIONS, INC. – AND PLAN OF REORGANIZATION
IN WITNESS WHEREOF, Parent, Sub, Company and, solely for purposes of Article VII, Holders Representative, have executed this Agreement as of the date first written above.
PRIMUS KNOWLEDGE SOLUTIONS, INC.
BROAD DAYLIGHT, INC.
By
/s/ MICHAEL BROCHU
By
/s/ LOUISE KIRKBRIDE
Michael Brochu
Chief Executive Officer and President
Name
Louise Kirkbride
Title
Solely for purposes of Article VII:
Q
_____________
dt 1368034
;
Preston Gates
As referenced in this Agreement and Plan of Reorganization:
Preston Gates – third business day after such satisfaction or waiver (the Closing Date), at the offices of Preston Gates & Ellis LLP, Seattle, Washington, unless another time, date or place is agreed to
Preston Gates – Opinion of Parents Counsel. Company shall have received an opinion dated the Closing Date of Preston Gates & Ellis LLP, special counsel to Parent, substantially in the form attached as Exhibit
Preston Gates – Stevens
Telephone No.: (206) 834-8100
Facsimile No.: (206) 834-8111
With a copy to:
Preston Gates & Ellis LLP
925 Fourth Avenue Suite 2900
Seattle, WA 98104-1158
Attention: Gary
dt 33283
;
|
WSGR
As referenced in this Agreement and Plan of Reorganization:
Wilson Sonsini – Company Counsel. Parent shall have received an opinion dated as of the Closing Date of Wilson Sonsini Goodrich & Rosati, counsel to Company, substantially in the form attached as Exhibit 6.
Wilson Sonsini – Kirkbride
Telephone No.: (408) 551-4762
Facsimile No.: (408) 557-9058
With a copy to:
Wilson Sonsini Goodrich & Rosati,
Professional Corporation
650 Page Mill Road
Palo Alto, CA 94304
Attn:
dt 30839
;
Broad Daylight, Inc.;
More... |
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Full Doc
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Agreement and Plan of Merger and Reorganization
Agreement and Plan of Merger and Reorganization (334K)
Doc #132498: Click preview link for longer preview.
AGREEMENT AND PLAN OF MERGER AND REORGANIZATION
BY AND AMONG
REALNETWORKS, INC.,
SYMPHONY ACQUISITION CORP. I,
SYMPHONY ACQUISITON CORP. II,
LISTEN.COM, INC.,
AND WITH RESPECT TO ARTICLE VII AND
ARTICLE IX ONLY
MELLON INVESTOR SERVICES LLC, AS ESCROW AGENT
AND
ROBERT REID, AS THE
SHAREHOLDER REPRESENTATIVE
DATED AS OF APRIL 21, 2003
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PAGE
----
{S} {C}
Article I THE MERGER................................................................................... 2
1.1 Definitions............................................................... 2
1.2 The Mergers............................................................... 15
1.3 Effective Time; Closing................................................... 15
1.4 Effect of the Mergers..................................................... 16
1.5 Articles of Incorporation; Bylaws......................................... 16
1.6 Directors and Officers.................................................... 16
1.7 Effect on Capital Stock................................................... 17
1.8 Earnout................................................................... 21
1.9 Dissenting Shares......................................................... 22
1.10 Surrender of Certificates................................................. 23
1.11 No Further Ownership Rights in Company Capital Stock...................... 25
1.12 Lost, Stolen or Destroyed Certificates.................................... 25
1.13 Tax-Free Reorganization................................................... 25
1.14 Taking of Necessary Action; Further Action................................ 26
Article II REPRESENTATIONS AND WARRANTIES OF THE COMPANY............................................... 26
2.1 Organization and Qualification; Subsidiaries.............................. 26
2.2 Articles of Incorporation and Bylaws...................................... 27
2.3 Capitalization............................................................ 27
2.4 Authority Relative to this Agreement...................................... 29
2.5 No Conflict; Required Filings and Consents................................ 29
2.6 Compliance; Permits....................................................... 30
2.7 Financial Statements...................................................... 30
2.8 No Undisclosed Liabilities; Total Assets and Total Liabilities............ 31
2.9 Absence of Certain Changes or Events...................................... 31
2.10 Absence of Litigation..................................................... 34
2.11 Employee Benefit Plans and Compensation................................... 34
2.12 Restrictions on Business Activities....................................... 38
2.13 Title to Property......................................................... 38
2.14 Taxes..................................................................... 39
2.15 Environmental Matters..................................................... 40
2.16 Brokers................................................................... 41
2.17 Intellectual Property..................................................... 41
2.18 Agreements, Contracts and Commitments..................................... 46
2.19 Insurance................................................................. 49
2.20 Certain Business Relationships with the Company........................... 49
2.21 Product Warranty.......................................................... 49
2.22 Board Approval............................................................ 49
2.23 Reserved.................................................................. 49
2.24 Complete Copies of Materials.............................................. 50
2.25 Termination of Certain Agreements......................................... 50
{/TABLE}
{PAGE}
{TABLE}
{S} {C}
2.26 Privacy Statements........................................................ 50
2.27 Power of Attorney......................................................... 51
2.28 Indemnification Obligations............................................... 51
2.29 Information Complete...................................................... 51
Article III REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUBS................................... 51
3.1 Organization and Qualification; Subsidiaries.............................. 51
3.2 Authority Relative to this Agreement...................................... 51
3.3 SEC Filings; Financial Statements......................................... 52
3.4 Brokers................................................................... 52
3.5 Consents and Approvals; No Violations..................................... 53
3.6 Litigation................................................................ 53
3.7 Information Complete...................................................... 53
Article IV CONDUCT PRIOR TO CLOSING; NONSOLICITATION................................................... 53
4.1 Conduct of Business of the Company........................................ 53
4.2 No Solicitation........................................................... 57
Article V ADDITIONAL AGREEMENTS........................................................................ 58
5.1 Stock Options and Warrants................................................ 58
5.2 Information Statement; Issuance of Freely Tradable Shares................. 59
5.3 Affiliate Agreements...................................................... 61
5.4 Registration Statement on Form S-8........................................ 61
5.5 Post Closing Covenants; General........................................... 61
5.6 Management Incentive Plan................................................. 62
5.7 Shareholder Approval...................................................... 62
5.8 Access to Information..................................................... 62
5.9 Confidentiality........................................................... 62
5.10 Public Disclosure......................................................... 62
5.11 Consents.................................................................. 63
5.12 FIRPTA Compliance......................................................... 63
5.13 Legal Conditions to the Mergers........................................... 63
5.14 Best Efforts; Additional Documents and Further Assurances................. 63
5.15 Notification of Certain Matters........................................... 64
5.16 Nasdaq National Market.................................................... 64
5.17 Voting Agreements......................................................... 64
5.18 Blue Sky Laws............................................................. 64
5.19 Stock Restrictions........................................................ 64
5.20 Employment Arrangements................................................... 64
5.21 Documentation of Cash Balance............................................. 65
5.24 Registered Intellectual Property.......................................... 66
5.25 Updated Company Schedule.................................................. 66
5.26 Rhapsody Promotions....................................................... 66
{/TABLE}
-2-
{PAGE}
{TABLE}
{S} {C}
Article VI CONDITIONS TO CLOSING....................................................................... 67
6.1 Conditions to Obligations of Each Party to Effect the Mergers............. 67
6.2 Additional Conditions to Obligations of the Company....................... 67
6.3 Additional Conditions to the Obligations of Parent and Merger Subs........ 68
Article VII SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ESCROW......................................... 71
7.1 Survival of Representations, Warranties and Covenants..................... 71
7.2 Escrow Arrangements....................................................... 72
7.3 Indemnification........................................................... 80
7.4 Third-Party Claims........................................................ 81
7.5 Shareholder Representative................................................ 83
7.6 Remedies Not Limited by Information and Investigation..................... 84
Article VIII TERMINATION, AMENDMENT AND WAIVER......................................................... 84
8.1 Termination............................................................... 84
8.2 Effect of Termination..................................................... 85
8.3 Amendment................................................................. 86
8.4 Extension; Waiver......................................................... 86
Article IX GENERAL PROVISIONS.......................................................................... 86
9.1 Notices................................................................... 86
9.2 Expenses.................................................................. 88
9.3 Interpretation; Definitions............................................... 88
9.4 Counterparts.............................................................. 88
9.5 Entire Agreement; Third Party Beneficiaries............................... 88
9.6 Severability.............................................................. 88
9.7 Other Remedies; Specific Performance...................................... 89
9.8 Governing Law............................................................. 89
9.9 Rules of Construction..................................................... 89
9.10 Assignment................................................................ 89
{/TABLE}
INDEX OF SCHEDULES AND EXHIBITS
SCHEDULE A Key Employees
SCHEDULE A-1 Employees Whose Knowledge Is Imputed to Company
SCHEDULE B Preliminary Consideration Allocation Schedule
EXHIBIT A Form of Affiliate Agreement
EXHIBIT B Terms of Management Incentive Plan
EXHIBIT C Form of Voting Agreement
EXHIBIT D Form of Articles of Amendment
-3-
{PAGE}
EXHIBIT E-1 Form of Legal Opinion of WSGR
EXHIBIT E-2 Form of Legal Opinion of Fenwick & West LLP
EXHIBIT F-1 Form of Offer Letter
EXHIBIT F-2 Form of Development and Confidentiality Agreement
EXHIBIT G Form of Stock Restriction Agreement
{PAGE}
AGREEMENT AND PLAN OF MERGER AND REORGANIZATION
This AGREEMENT AND PLAN OF MERGER AND REORGANIZATION is made and
entered into as of April 21, 2003, among REALNETWORKS, Inc., a Washington
corporation ("PARENT"), Symphony Acquisition Corp. I, a California corporation
and a wholly-owned subsidiary of Parent ("MERGER SUB I"), Symphony Acquisition
Corp. II, a California corporation and a wholly-owned subsidiary of Parent
("MERGER SUB II," and together with Merger Sub I, the "MERGER SUBS"),
LISTEN.COM, Inc., a California corporation (the "COMPANY") and, with respect to
ARTICLE VII and ARTICLE IX only, Mellon Investor Services LLC, as Escrow Agent
(the "ESCROW AGENT"), and Robert Reid, as Shareholder Representative (the
"SHAREHOLDER REPRESENTATIVE"). Parent, the Company, and Merger Sub are sometimes
referred to herein individually as a "PARTY" and collectively as the "PARTIES".
RECITALS
A. Upon the terms and subject to the conditions of this Agreement
(as defined in SECTION 1.2 below) and in accordance with the California General
Corporation Law ("CALIFORNIA LAW"), Parent and the Company intend to enter into
a two-step business combination transaction.
B. The Board of Directors of the Company (i) has determined that
Merger I, assuming completion of Merger II immediately thereafter (the terms
"Merger I" and "Merger II" are defined in SECTION 1.1) is fair to, and in the
best interests of, the Company and its shareholders, (ii) has approved this
Agreement, and has approved Merger I and the other transactions contemplated by
this Agreement and (iii) has determined to recommend that the shareholders of
the Company adopt and approve this Agreement and approve Merger I.
C. Contemporaneously with the execution and delivery of this
Agreement, certain holders of Company Capital Stock (as defined in Section 1.1)
are executing and delivering to Parent a voting agreement and irrevocable proxy.
NOW, THEREFORE, in consideration of the covenants, promises and
representations set forth herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties agree
as follows:
ARTICLE I
THE MERGER
1.1 Definitions.
(a) The following terms are defined in the text of this
Agreement:
"ACQUISITION PROPOSAL" shall have the meaning set forth in Section 4.2.
"AFFILIATE AGREEMENT" shall have the meaning set forth in Section 5.3.
"AGREEMENT OF MERGER I" shall have the meaning set forth in Section
1.3.
"AGREEMENT OF MERGER II" shall have the meaning set forth in Section
1.3.
"AGREEMENT" shall have the meaning set forth in Section 1.3.
132498
|
Comdisco Holding
As referenced in this Agreement and Plan of Merger and Reorganization:
Comdisco – Time of Merger I (but
excluding the shares of Company Preferred C Stock
underlying the Comdisco Warrant);
(D) the sum of the Series D Adjusted Liquidation Preferences
for all shares of
_____________
Comdisco – Time of Merger I (but
excluding the shares of Company Preferred C Stock
underlying the Comdisco Warrant);
(D) the sum of the Series D Liquidation Preferences for all
shares of Company
_____________
"COMDISCO – shares of Company Capital
Stock.
"CODE" means the Internal Revenue Code of 1986, as amended.
"COMDISCO WARRANT" means that certain warrant to purchase 10,776 shares
of Company Preferred C Stock
_____________
Comdisco, – that certain warrant to purchase 10,776 shares
of Company Preferred C Stock issued to Comdisco, Inc. and dated as of September
30, 1999.
"COMMON CASH EXCHANGE RATIO" means the
_____________
dt 86766
;
RealNetworks
As referenced in this Agreement and Plan of Merger and Reorganization:
REALNETWORKS, INC. –
{DOCUMENT}
{TYPE}EX-2.1
{SEQUENCE}3
{FILENAME}v91804exv2w1.txt
{DESCRIPTION}EXHIBIT 2.1
{TEXT}
{PAGE}
EXHIBIT 2.1
AGREEMENT AND PLAN OF MERGER AND REORGANIZATION
BY AND AMONG
REALNETWORKS, INC. ,
SYMPHONY ACQUISITION CORP. I,
SYMPHONY ACQUISITON CORP. II,
LISTEN.COM, INC.,
AND WITH RESPECT TO ARTICLE VII AND
ARTICLE IX ONLY
MELLON INVESTOR SERVICES LLC, AS ESCROW AGENT
AND
_____________
REALNETWORKS, Inc. – Stock Restriction Agreement
{PAGE}
AGREEMENT AND PLAN OF MERGER AND REORGANIZATIO |