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Agreement and Plan of Merger
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Title:
Agreement and Plan of Merger
Entities:
Aeroflex Inc.
Date:
2002
Size:
Preview shows 7KB of 186KB total
Price:
$58
ID:
#1138117
► Plans ► Agreements ► Agreements & Plans of Merger
► Technology ► Semiconductors
Start of Preview
<SEQUENCE>11

<FILENAME>y59778ex99-d_1.txt

<DESCRIPTION>AGREEMENT AND PLAN OF MERGER

<TEXT>

<PAGE>



===============================================================================









                        AGREEMENT AND PLAN OF MERGER





                                   among





                           AEROFLEX INCORPORATED





                          TESTCO ACQUISITION CORP.





                                    and





                             IFR SYSTEMS, INC.









                         Dated as of April 13, 2002







===============================================================================



<PAGE>









<Table>

<Caption>



<S>        <C>       <C>                                                                          <C>

ARTICLE I - THE OFFER..............................................................................2

   Section 1.1       Offer.........................................................................2

   Section 1.2       Company Actions...............................................................3

   Section 1.3       Directors of the Company......................................................5

   Section 1.4       Lender Agreement..............................................................6

   Section 1.5       Grant of Option...............................................................6



ARTICLE II - THE MERGER............................................................................7

   Section 2.1       The Merger....................................................................7

   Section 2.2       Closing.......................................................................7

   Section 2.3       Effective Time................................................................7

   Section 2.4       Effects of the Merger.........................................................7

   Section 2.5       Certificate of Incorporation; By-laws.........................................8

   Section 2.6       Directors; Officers of Surviving Corporation..................................8

   Section 2.7       Conversion of Securities......................................................8

   Section 2.8       Exchange of Certificates......................................................9

   Section 2.9       Appraisal Rights.............................................................10

   Section 2.10      Stock Options................................................................11



ARTICLE III - REPRESENTATIONS AND WARRANTIES OF THE COMPANY.......................................12

   Section 3.1       Organization, Qualification, Etc.............................................12

   Section 3.2       Capital Stock................................................................13

   Section 3.3       Corporate Authority Relative to this Agreement; No Violation.................14

   Section 3.4       Reports and Financial Statements.............................................15

   Section 3.5       No Undisclosed Liabilities...................................................16

   Section 3.6       No Violation of Law..........................................................17

   Section 3.7       Environmental Matters........................................................17

   Section 3.8       Employee Benefit Plans; ERISA................................................18

   Section 3.9       Absence of Certain Changes or Events.........................................20

   Section 3.10      Litigation...................................................................21

   Section 3.11      Schedule 14D-9; Offer Documents; and Proxy...................................21

   Section 3.12      Intellectual Property........................................................21

   Section 3.13      Tax Matters..................................................................23

   Section 3.14      Opinion of Financial Advisor.................................................24

   Section 3.15      Required Vote of the Company Stockholders....................................25

   Section 3.16      Employment Matters...........................................................25

   Section 3.17      Rights Plan..................................................................25

   Section 3.18      Existing Discussions.........................................................25

   Section 3.19      Loan Discharge Agreement.....................................................25

   Section 3.20      Forbearance Agreement........................................................26



ARTICLE IV - REPRESENTATIONS AND WARRANTIES OF PARENT AND THE PURCHASER...........................26

   Section 4.1       Organization, Qualification, Etc.............................................26

   Section 4.3       Offer Documents; Proxy Statement; Schedule 14D-9.............................27

   Section 4.4       Available Funds..............................................................28





</Table>



                                      i

<PAGE>



<Table>

<Caption>

 <S>                 <C>                                                                          <C>

   Section 4.5       Opinion of Financial Advisor.................................................28

   Section 4.7       Reports and Financial Statements.............................................28



ARTICLE V - COVENANTS AND AGREEMENTS..............................................................29

   Section 5.1       Conduct of Business Prior to the Effective Time..............................29

   Section 5.2       Access; Confidentiality......................................................33

   Section 5.3       Special Meeting; Proxy Statement.............................................34

   Section 5.4       Reasonable Best Efforts; Further Assurances..................................35

   Section 5.5       Employee Benefits............................................................36
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