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Agreement and Plan of Merger

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Title:

Agreement and Plan of Merger

Entities:

Date:

2005

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Preview shows 75KB of 220KB total

Price:

$71

ID:

#1032226

► Plans ► Agreements ► Agreements & Plans of Merger

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Execution Version

AGREEMENT AND PLAN OF MERGER

by and among

CLINICAL DATA, INC.,

IRIDES ACQUISITION CORP.

and

ICORIA, INC.

Dated as of September 19, 2005

TABLE OF CONTENTS


		Page
ARTICLE I	THE MERGER	1
1.1	Effective Time of the Merger	1
1.2	Closing	2
1.3	Effects of the Merger	2
ARTICLE II	CONVERSION OF SECURITIES	2
2.1	Conversion of Capital Stock	2
2.2	Exchange of Certificates	5
ARTICLE III	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	8
3.1	Organization, Standing and Power; Subsidiaries	8
3.2	Capitalization	10
3.3	Authority; No Conflict; Required Filings and Consents	12
3.4	SEC Filings; Financial Statements; Information Provided	14
3.5	No Undisclosed Liabilities; Indebtedness	15
3.6	Absence of Certain Changes or Events	16
3.7	Taxes	16
3.8	Owned and Leased Real Properties	17
3.9	Intellectual Property	18
3.10	Agreements, Contracts and Commitments; Government Contracts	20
3.11	Litigation; Product Liability	21
3.12	Environmental Matters	21
3.13	Employee Benefit Plans	23
3.14	Compliance With Laws	25
3.15	Permits	25
3.16	Labor Matters	25
3.17	Insurance	26
3.18	Assets	26
3.19	Customers and Suppliers	26
3.20	Opinion of Financial Advisor	27
3.21	Section 203 of the DGCL Not Applicable	27
3.22	Brokers; Schedule of Fees and Expenses	27

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ARTICLE IV	REPRESENTATIONS AND WARRANTIES OF THE PARENT AND THE TRANSITORY SUBSIDIARY	27
4.1	Organization, Standing and Power	27
4.2	Capitalization	29
4.3	Authority; No Conflict; Required Filings and Consents	30
4.4	SEC Filings; Financial Statements; Information Provided	31
4.5	Absence of Certain Changes or Events	33
4.6	Intellectual Property	33
4.7	Agreements, Contracts and Commitments; Government Contacts	34
4.8	Litigation; Product Liability	34
4.9	Compliance With Laws	34
4.10	Operations of the Transitory Subsidiary	35
4.11	Brokers; Schedule of Fees and Expenses	35
ARTICLE V	CONDUCT OF BUSINESS	35
5.1	Covenants of the Company	35
5.2	Confidentiality	38
ARTICLE VI	ADDITIONAL AGREEMENTS	38
6.1	No Solicitation	38
6.2	Proxy Statement/Prospectus; Registration Statement	41
6.3	Nasdaq Quotation	42
6.4	Access to Information	42
6.5	Stockholders Meeting	42
6.6	Legal Conditions to the Merger	43
6.7	Public Disclosure	44
6.8	Section 368(a) Reorganization	44
6.9	Affiliate Legends	45
6.10	Nasdaq Stock Market Listing	45
6.11	Company Stock Plans, Company Warrants and Company Convertible Note	45
6.12	Indemnification	47
6.13	Notification of Certain Matters	48
6.14	Exemption from Liability Under Section 16(b)	48
6.15	Employee Benefits	49

-ii-


ARTICLE VII	CONDITIONS TO MERGER	49
7.1	Conditions to Each Partys Obligation To Effect the Merger	49
7.2	Additional Conditions to Obligations of the Parent and the Transitory Subsidiary	50
7.3	Additional Conditions to Obligations of the Company	52
ARTICLE VIII	TERMINATION AND AMENDMENT	52
8.1	Termination	52
8.2	Effect of Termination	54
8.3	Fees and Expenses	54
8.4	Amendment	56
8.5	Extension; Waiver	56
ARTICLE IX	MISCELLANEOUS	56
9.1	Nonsurvival of Representations and Warranties	56
9.2	Notices	56
9.3	Entire Agreement	57
9.4	No Third Party Beneficiaries	57
9.5	Assignment	58
9.6	Severability	58
9.7	Counterparts and Signature	58
9.8	Interpretation	58
9.9	Governing Law	58
9.10	Remedies	59
9.11	Submission to Jurisdiction	59
9.12	Waiver of Jury Trial	59
Schedule A	Parties to Company Stockholder Agreement
Schedule B	Material Contracts

Exhibit A	Form of Company Stockholder Agreement
Exhibit B	Form of By-laws of the Transitory Subsidiary

-iii-

TABLE OF DEFINED TERMS


Terms		Reference in Agreement
Acquisition Proposal		Section 6.1(f)
Adjusted Convertible Note		Section 6.11(e)
Adjusted Warrant		Section 6.11(d)
Affiliate		Section 3.2(d)
Agreement		Preamble
Alternative Acquisition Agreement		Section 6.1(b)
Antitrust Laws		Section 6.6(b)
Antitrust Order		Section 6.6(b)
Business Day		Section 1.2
CERCLA		Section 3.12(f)
Certificate of Merger		Section 1.1
Certificates		Section 2.2(a)
Closing		Section 1.2
Closing Average Parent Stock Price		Section 2.1(c)
Closing Date		Section 1.2
Code		Preamble
Company		Preamble
Company Balance Sheet		Section 3.4(b)
Company Board		Section 3.3(a)
Company Common Stock		Section 2.1(b)
Company Convertible Note		Section 3.1(c)
Company Disclosure Schedule		ARTICLE III
Company Employee Plans		Section 3.13(a)
Company Insiders		Section 6.14(c)
Company Intellectual Property		Section 3.9(b)
Company Leases		Section 3.9(b)
Company Material Adverse Effect		Section 3.1(a)
Company Material Contracts		Section 3.10(a)
Company Permits		Section 3.15
Company Preferred Stock		Section 3.2(a)
Company SEC Reports		Section 3.4(a)
Company Stock Options		Section 3.2(c)
Company Stock Plans		Section 3.2(c)
Company Stockholder Agreements		Preamble
Company Stockholder Approval		Section 3.3(a)
Company Stockholders Meeting		Section 3.4(c)
Company Third Party Intellectual Property		Section 3.9(b)
Company Voting Proposal		Section 3.3(a)
Company Warrants		Section 3.2(c)
Confidential Business Information		Section 3.9(a)

-iv-


Terms		Reference in Agreement
Confidentiality Agreement		Section 5.2
Costs		Section 6.12(a)
Continuing Employees		Section 6.15
Covered Parties		Section 6.12(a)
Dissenting Shares		Section 2.1(d)(i)
DGCL		Preamble
Effective Time		Section 1.1
Employee Benefit Plan		Section 3.13(a)
Environmental Law		Section 3.12(f)
ERISA Affiliate		Section 3.13(a)
ERISA		Section 3.13(a)
Exchange Agent		Section 2.2(a)
Exchange Fund		Section 2.2(a)
Exchange Act		Section 3.3(c)
Exchange Ratio		Section 2.1(c)
GAAP		Section 3.4(b)
Governmental Entity		Section 3.3(c)
Indebtedness		Section 3.5(b)
Insurance Policies		Section 3.17 below
Intellectual Property		Section 3.9(a)
Liens		Section 3.3(b)
Materials of Environmental Concern		Section 3.12(g)
McDermott		Section 7.2(c)
Merger		Preamble
Mintz		Section 7.2(c)
New Offer		Section 6.1(b)(iii)
Operating Plan		Section 5.1
Ordinary Course of Business		Section 3.2(d)
Outside Date		Section 8.1(b)
Parent		Preamble
Parent Balance Sheet		Section 4.4(b)
Parent Board		Section 4.3(a)
Parent Common Stock		Section 2.1(c)
Parent Disclosure Schedule		ARTICLE IV
Parent Intellectual Property		Section 4.7(b)
Parent Material Adverse Effect		Section 4.1
Parent Material Contracts		Section 4.7(a)
Parent Preferred Stock		Section 4.2(a)
Parent Third Party Intellectual Property		Section 4.7(b)
Parent SEC Reports		Section 4.4(a)
Parent Stock Plans		Section 4.2(b)
Proxy Statement/Prospectus		Section 3.4(c)
Publicly Available Software		Section 3.9(g)
Registration Statement		Section 3.4(c)

-v-


Terms		Reference in Agreement
Regulation M-A Filing		Section 3.4(c)
Representatives		Section 6.1(a)
Rule 145 Affiliate		Section 6.9
SEC		Section 3.3(c)
Section 16 Information		Section 6.14(b)
Securities Act		Section 3.2(d)
Signing Average Parent Stock Price		Section 2.1(c)
Specified Time		Section 6.1(a)
Subsidiary		Section 3.1(b)
Superior Proposal		Section 6.1(f)
Surviving Corporation		Section 1.3
Tax Returns		Section 3.7(a)
Taxes		Section 3.7(a)
Transitory Subsidiary		Preamble

-vi-

AGREEMENT AND PLAN OF MERGER

THIS AGREEMENT AND PLAN OF MERGER (this Agreement), dated as of September 19, 2005, is by and among Clinical Data, Inc., a Delaware corporation (the Parent), Irides Acquisition Corp., a Delaware corporation and a wholly-owned subsidiary of the Parent (the Transitory Subsidiary), and Icoria, Inc., a Delaware corporation (the Company).

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