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Title: |
Agreement and Plan of Merger |
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Date: |
2001 |
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Preview shows 6KB of 219KB total |
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Price: |
$53 |
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ID: |
#1541632 |
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AGREEMENT AND PLAN OF MERGER
DATED AS OF JULY 30, 2001
AMONG
INTERNATIONAL BANCSHARES CORPORATION,
NBC ACQUISITION CORP.
AND
NATIONAL BANCSHARES CORPORATION OF TEXAS
<PAGE> 2
TABLE OF CONTENTS
<TABLE>
<CAPTION>
Page
----
Article I.
THE OFFER AND THE MERGER
<S> <C>
1.1 The Offer............................................................. 2
1.2 Actions by the Company................................................ 3
1.3 The Merger............................................................ 4
1.4 Effective Time of the Merger.......................................... 4
1.5 Closing............................................................... 5
Article II.
THE SURVIVING CORPORATION
2.1 Articles of Incorporation............................................. 5
2.2 By-laws............................................................... 5
2.3 Board of Directors and Officers....................................... 5
2.4 Effects of Merger..................................................... 5
Article III.
CONVERSION OF SHARES
3.1 Effect on Capital Stock............................................... 5
3.2 Shares of Dissenting Shareholders..................................... 6
3.3 Further Assurances.................................................... 6
3.4 Exchange of Certificates.............................................. 6
3.5 Withholding Taxes..................................................... 8
Article IV.
REPRESENTATIONS AND WARRANTIES
4.1 Representations and Warranties of the Company......................... 9
4.2 Representations and Warranties of Parent.............................. 23
4.3 Representations and Warranties of Sub................................. 25
Article V.
COVENANTS RELATING TO CONDUCT OF BUSINESS
5.1 Covenants of the Company.............................................. 26
</TABLE>
-i-
<PAGE> 3
<TABLE>
<CAPTION>
<S> <C>
5.2 Covenants of Parent................................................... 31
5.3 Advice of Changes; Governmental Filings............................... 31
5.4 Control of the Company's Business..................................... 31
Article VI.
ADDITIONAL AGREEMENTS
6.1 Preparation of Proxy Statement; Company Shareholders Meeting......... 32
6.2 Access to Information and Confidentiality............................. 33
6.3 Commercially Reasonable Efforts....................................... 34
6.4 Acquisition Proposals................................................. 35
6.5 Treatment of the Company Stock Options; Other Stock Plans;
Employee Benefits Matters............................................. 36
6.6 Directors............................................................. 38
6.7 Fees and Expenses..................................................... 38
6.8 Directors' and Officers' Indemnification and Insurance................ 39
6.9 Public Announcements.................................................. 41
6.10 Environmental Investigation; Right to Terminate Agreement............. 41
6.11 Investment Portfolio.................................................. 43
Article VII.
CONDITIONS PRECEDENT
7.1 Conditions to Each Party's Obligation to Effect the Merger............ 43
Article VIII.
TERMINATION AND AMENDMENT
8.1 Termination........................................................... 44
8.2 Effect of Termination................................................. 45
8.3 Amendment............................................................. 46
8.4 Extension; Waiver..................................................... 46
Article IX.
GENERAL PROVISIONS
9.1 Non-Survival of Representations, Warranties and Agreements............ 47
9.2 Notices............................................................... 47
9.3 Interpretation........................................................ 48
9.4 Counterparts.......................................................... 48
9.5 Entire Agreement; Third Party Beneficiaries........................... 48
9.6 Governing Law......................................................... 49
9.7 Severability.......................................................... 49
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