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Document Preview Merger Agreement |
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Title: |
Merger Agreement |
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Entities: |
Express Scripts, Inc.; Express Scripts, Inc.; Medco Health Solutions Inc.; Medco Health Solutions Inc.; Ramp Corp.; Keybank NA |
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Date: |
2003 |
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Size: |
Preview shows 4KB of 177KB total |
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Price: |
$56 |
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ID: |
#1162000 |
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MERGER AGREEMENT
dated as of December 19, 2002
among
PS PURCHASE CORP.,
MEDIX RESOURCES, INC.,
POCKETSCRIPT, LLC,
and
STEPHEN S. BURNS
MERGER AGREEMENT dated as of December 19, 2002 (this "Agreement"), among
(i) POCKETSCRIPT, LLC, an Ohio limited liability company (the "Company"), (ii)
MEDIX RESOURCES, INC., a Colorado corporation ("Medix"), (iii) PS Purchase
Corp., a Delaware corporation (the "Merger Sub"), and a wholly-owned subsidiary
of Medix, and (iii) STEPHEN S. BURNS, ("Burns " or the "Representative").
W I T N E S S E T H:
-------------------
WHEREAS, the parties to this Agreement desire to effect a strategic
business combination;
WHEREAS, Burns owns approximately 25% of the issued and outstanding Units
(as hereinafter defined) of the Company;
WHEREAS, in furtherance of the foregoing, upon the terms and subject to the
conditions of this Agreement and in accordance with Chapter 1705 of the Ohio
Revised Code (the "Ohio Statute"), the Merger Sub will merge with and into the
Company in accordance with the provisions of the Ohio Statute, with the Company
as the surviving corporation;
WHEREAS, the Board of Directors of Medix and the sole Manager of the
Company has approved and determined that this Agreement, and the transactions
contemplated herein, including the Merger (as hereinafter defined), are
advisable, fair to, and in the best interests of, their respective corporations
and stockholders; and
WHEREAS, the Board of Directors of Medix and the sole Manager of the
Company has resolved to recommend adoption and approval of the Merger, this
Agreement and the transactions contemplated herein to the stockholders of Medix
and the members of the Company (the "Members"), respectively, and has determined
that the Merger, this Agreement, and the transactions contemplated hereby are
fair to such stockholders or Members, as the case may be, and to recommend that
the stockholders of Medix and the Members, approve and adopt the Merger, this
Agreement and the transactions contemplated herein.
NOW, THEREFORE, in consideration of the foregoing and the respective
representations, warranties, covenants and agreements contained in this
Agreement and intending to be legally bound hereby, the parties hereto agree as
follows:
ARTICLE I.
General
Section 1.1. The Merger.
Upon the terms and subject to the conditions of this Agreement, and in
accordance with the Ohio Statute and the Delaware General Corporation Law (the
"DGCL"), at the Effective Time (as hereinafter defined), the Merger Sub shall be
merged with and into the Company (the "Merger"). As a result of the Merger, the
separate existence of the Merger Sub shall cease and the Company shall continue
as the surviving corporation of the Merger (the "Surviving Corporation"). The
corporate existence of the Company, with all its purposes, rights, privileges,
franchises, powers and objects, shall continue unaffected and unimpaired by the
Merger and, as the Surviving Corporation, it shall be governed by the laws of
the State of Ohio.
Section 1.2. Effective Time; Closing.
As promptly as practicable after the satisfaction or waiver of the
conditions set forth in Articles VII, VIII and IX hereof, the parties hereto
shall cause the Merger to be consummated by filing the Certificate of Merger
with the Secretary of State of the State of Ohio and by making all other filings
or recordings required under the Ohio Statute and the DGCL in connection with
the Merger, in such form as is required by, and executed in accordance with the
relevant provisions of, the Ohio Statute or such other applicable Law. The date
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