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Title: |
Agreement and Plan of Merger |
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Date: |
2004 |
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Preview shows 13KB of 228KB total |
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$83 |
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ID: |
#1008510 |
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AGREEMENT AND PLAN OF MERGER
BY AND AMONG
HARRIS INTERACTIVE INC.,
WIRTHLIN WORLDWIDE, INC.,
CAPITOL MERGER SUB, LLC
AND
THE STOCKHOLDERS OF WIRTHLIN WORLDWIDE, INC.
DATED AS OF SEPTEMBER 8, 2004
<PAGE>
TABLE OF CONTENTS
<TABLE>
<S> <C>
SECTION 1. - DEFINITIONS/INTERPRETATION...................................................... 1
1.1 Definitions...................................................................... 1
1.2 Interpretation................................................................... 14
SECTION 2. - THE MERGER...................................................................... 15
2.1 The Merger....................................................................... 15
2.2 Effects of the Merger............................................................ 15
2.3 Organizational Documents......................................................... 15
2.4 Conversion of Securities; Merger Consideration................................... 16
2.5 Exchange Deposit................................................................. 16
2.6 Stock Transfer Books of Wirthlin; Full Satisfaction of Wirthlin Shares........... 16
2.7 Adjustment Amount and Payment.................................................... 17
2.8 Adjustment Procedure............................................................. 18
SECTION 3. - THE CLOSING..................................................................... 19
3.1 Closing of the Merger............................................................ 19
3.2 Filing of Certificates of Merger................................................. 19
3.3 Closing Deliveries............................................................... 19
SECTION 4. - REPRESENTATIONS AND WARRANTIES OF WIRTHLIN...................................... 21
4.1 Organization and Good Standing................................................... 21
4.2 Authority; No Conflict........................................................... 22
4.3 Consents......................................................................... 23
4.4 Capitalization................................................................... 23
4.5 Financial Statements............................................................. 23
4.6 Books and Records................................................................ 24
4.7 Title to Properties; Encumbrances................................................ 24
4.8 Condition and Sufficiency of Assets.............................................. 25
4.9 Accounts Receivable.............................................................. 26
4.10 Pre-Closing Actions.............................................................. 26
4.11 No Undisclosed Liabilities....................................................... 27
4.12 Taxes............................................................................ 27
4.13 No Material Adverse Change....................................................... 29
4.14 Employee Benefits................................................................ 29
4.15 Compliance With Legal Requirements; Governmental Authorizations.................. 32
4.16 Legal Proceedings; Orders........................................................ 33
4.17 Absence of Certain Changes and Events............................................ 34
4.18 Contracts; No Defaults........................................................... 35
4.19 Insurance........................................................................ 38
4.20 Environmental Matters............................................................ 39
4.21 Employees........................................................................ 40
4.22 Labor Disputes; Compliance....................................................... 40
4.23 Intellectual Property............................................................ 41
4.24 Foreign Corrupt Practices Act; Export Control and Antiboycott Laws............... 43
4.25 Disclosure....................................................................... 44
4.26 Relationships with Related Persons............................................... 44
4.27 Brokers or Finders............................................................... 44
</TABLE>
i
<PAGE>
<TABLE>
<S> <C>
4.28 Clients.......................................................................... 44
4.29 Suppliers and Vendors............................................................ 45
SECTION 5. - REPRESENTATIONS AND WARRANTIES OF STOCKHOLDERS.................................. 45
5.1 Authority; No Conflict........................................................... 45
5.2 Certain Proceedings.............................................................. 45
5.3 Brokers or Finders............................................................... 45
5.4 Ownership of Shares.............................................................. 45
5.5 No Further Right or Interest..................................................... 45
5.6 No Claims........................................................................ 46
5.7 Warranties relating to Acquisition of Harris Shares.............................. 46
5.8 Disclosure....................................................................... 48
SECTION 6. - REPRESENTATIONS AND WARRANTIES OF HARRIS........................................ 48
6.1 Organization and Good Standing................................................... 48
6.2 Authority: No Conflict........................................................... 48
6.3 Certain Proceedings.............................................................. 49
6.4 Brokers or Finders............................................................... 49
6.5 SEC Filings...................................................................... 49
6.6 Harris Shares.................................................................... 49
6.7 Disclosure....................................................................... 49
6.8 Consents......................................................................... 50
SECTION 7. - ADDITIONAL AGREEMENTS........................................................... 50
7.1 Directors........................................................................ 50
7.2 Severance........................................................................ 50
7.3 Registration Statement on Form S-3............................................... 50
7.4 Tax Treatment.................................................................... 53
7.5 Customer and other Business Relationships........................................ 53
7.6 Retention of and Access to Records............................................... 53
7.7 Majority Stockholder Assets...................................................... 53
7.8 Employment Agreement Amendments.................................................. 54
7.9 Consents and Waivers............................................................. 54
7.10 Grant Thornton Consents.......................................................... 54
7.11 Further Actions; Power of Attorney............................................... 54
SECTION 8. - INDEMNIFICATION; REMEDIES....................................................... 55
8.1 Survival; Right to Indemnification not Affected by Knowledge..................... 55
8.2 Indemnification and Reimbursement by Stockholders................................ 55
8.3 Indemnification and Reimbursement by Harris...................................... 56
8.4 Time Limitations Related to Representations and Warranties....................... 57
8.5 Stockholders Threshold and Cap................................................... 57
8.6 Harris Threshold and Cap......................................................... 58
8.7 Claims Against the Stockholders.................................................. 58
8.8 Claims Against Harris............................................................ 59
8.9 Third Party Claims............................................................... 59
8.10 Indemnification in Case of Strict Liability or Indemnitee Negligence............. 61
8.11 Violation of Covenants........................................................... 61
SECTION 9. - MISCELLANEOUS................................................................... 61
9.1 Expenses......................................................................... 61
</TABLE>
ii
<PAGE>
<TABLE>
<S> <C>
9.2 Incorporation by Reference....................................................... 61
9.3 Public Announcements............................................................. 61
9.4 Notices.......................................................................... 62
9.5 Jurisdiction; Service of Process................................................. 63
9.6 Waiver; Remedies Cumulative; Stockholder Representative.......................... 63
9.7 Entire Agreement and Modification................................................ 64
9.8 Corresponding Schedules; Definitions............................................. 64
9.9 Assignments, Successors, and No Third Party Rights............................... 64
9.10 Severability..................................................................... 65
9.11 Construction..................................................................... 65
9.12 Time of Essence.................................................................. 65
9.13 Governing Law.................................................................... 65
9.14 Execution of Agreement........................................................... 65
</TABLE>
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<PAGE>
AGREEMENT AND PLAN OF MERGER
THIS AGREEMENT AND PLAN OF MERGER ("Agreement"), dated as of September 8,
2004 is by and among HARRIS INTERACTIVE INC., a Delaware corporation ("Harris"),
CAPITOL MERGER SUB, LLC, a Delaware limited liability company of which Harris is
the sole member ("Merger Sub"), WIRTHLIN WORLDWIDE, INC., a California
S-Corporation ("Wirthlin"), Joel White (solely for purposes of Section 2.7.4),
and all of the stockholders of Wirthlin shown on the signature pages to this
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