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Agreement and Plan of Merger

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Title:

Agreement and Plan of Merger

Entities:

Fleet National Bank; On Line Interpreters, Inc.; Wachovia Bank, NA; International Swaps & Derivatives Association, Inc.; Bank of New York

Date:

2004

Size:

Preview shows 39KB of 238KB total

Price:

$81

ID:

#1872997

► Plans ► Agreements ► Agreements & Plans of Merger
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AGREEMENT AND PLAN OF MERGER

BY AND AMONG

LANGUAGE LINE HOLDINGS, INC.,

LANGUAGE LINE ACQUISITION, INC.,

and

LANGUAGE LINE, INC.

DATED AS OF APRIL 14, 2004

TABLE OF CONTENTS


		Page
AGREEMENT AND PLAN OF MERGER		1

ARTICLE I	THE MERGER	1

SECTION 1.1.	THE MERGER	1
SECTION 1.2.	CLOSING	1
SECTION 1.3.	EFFECTIVE TIME	2
SECTION 1.4.	EFFECT OF THE MERGER	2
SECTION 1.5.	CERTIFICATE OF INCORPORATION; BYLAWS	2
SECTION 1.6.	DIRECTORS AND OFFICERS	3
SECTION 1.7.	SUBSEQUENT ACTIONS	3

ARTICLE II	CONVERSION OF SECURITIES; EXCHANGE OF CERTIFICATES	3

SECTION 2.1.	EFFECT OF MERGER ON CAPITAL STOCK OF MERGER SUB	3
SECTION 2.2.	EFFECT ON CAPITAL STOCK OF THE COMPANY	3
SECTION 2.3.	CANCELLATION OF OPTIONS; RESTRICTED STOCK PLAN	4
SECTION 2.4.	CALCULATION OF COMMON SHARE PRICE AND OPTION PRICE	5
SECTION 2.5.	POST-CLOSING ADJUSTMENTS	8
SECTION 2.6.	EXCHANGE OF STOCK CERTIFICATES/CANCELLATION OF OPTIONS	10
SECTION 2.7.	PAYMENT; ESCROW; RESERVE AMOUNT; PAYMENT PROCEDURES	11
SECTION 2.8.	STOCK TRANSFER BOOKS	14
SECTION 2.9.	DISSENTING SHARES	14
SECTION 2.10.	COMPANY INDEBTEDNESS	15
SECTION 2.11.	TRANSACTION EXPENSES	15

ARTICLE III.	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	15

SECTION 3.1.	ORGANIZATION AND QUALIFICATION; SUBSIDIARIES	15
SECTION 3.2.	CERTIFICATE OF INCORPORATION AND BYLAWS	16
SECTION 3.3.	CAPITALIZATION	16
SECTION 3.4.	AUTHORITY	17
SECTION 3.5.	NO CONFLICT; REQUIRED FILINGS AND CONSENTS	18
SECTION 3.6.	COMPANY FINANCIAL STATEMENTS; COMPANY INDEBTEDNESS	19
SECTION 3.7.	ABSENCE OF CERTAIN CHANGES OR EVENTS	19
SECTION 3.8.	ABSENCE OF LITIGATION	20
SECTION 3.9.	LICENSES AND PERMITS; COMPLIANCE WITH LAWS	20
SECTION 3.10.	TAXES	20
SECTION 3.11.	INTELLECTUAL PROPERTY	22
SECTION 3.12.	MATERIAL CONTRACTS	23
SECTION 3.13.	EMPLOYEE BENEFIT PLANS	24
SECTION 3.14.	PROPERTIES; ASSETS	27
SECTION 3.15.	EMPLOYEES, LABOR RELATIONS	28
SECTION 3.16.	ENVIRONMENTAL MATTERS	28

- i -


SECTION 3.17.	INSURANCE	29
SECTION 3.18.	AFFILIATE TRANSACTIONS	29
SECTION 3.19.	BOOKS AND RECORDS	30
SECTION 3.20.	CUSTOMERS; CLIENTS	30
SECTION 3.21.	NO POWER OF ATTORNEY	30
SECTION 3.22.	BOARD APPROVAL; VOTE REQUIRED	30
SECTION 3.23.	BROKERS	31
SECTION 3.24.	DISCLAIMER OF OTHER REPRESENTATIONS AND WARRANTIES	31

ARTICLE IV	REPRESENTATIONS AND WARRANTIES OF MERGER SUB	31

SECTION 4.1.	ORGANIZATION AND QUALIFICATION	31
SECTION 4.2.	CERTIFICATE OF INCORPORATION AND BYLAWS	31
SECTION 4.3.	AUTHORITY	31
SECTION 4.4.	NO CONFLICT; REQUIRED FILINGS AND CONSENTS	32
SECTION 4.5.	ABSENCE OF LITIGATION	32
SECTION 4.6.	BROKERS	33
SECTION 4.7.	VOTE REQUIRED	33
SECTION 4.8.	DISCLAIMER OF OTHER REPRESENTATIONS AND WARRANTIES	33

ARTICLE V	REPRESENTATIONS AND WARRANTIES OF ACQUIROR	33

SECTION 5.1.	ORGANIZATION AND QUALIFICATION; SUBSIDIARIES	33
SECTION 5.2.	CERTIFICATE OF INCORPORATION AND BYLAWS	34
SECTION 5.3.	AUTHORITY	34
SECTION 5.4.	NO CONFLICT; REQUIRED FILINGS AND CONSENTS	34
SECTION 5.5.	VOTE REQUIRED	35
SECTION 5.6.	FINANCING	35
SECTION 5.7.	ABSENCE OF LITIGATION	35
SECTION 5.8.	BROKERS	35
SECTION 5.9.	SOLVENCY	36
SECTION 5.10.	DISCLAIMER OF OTHER REPRESENTATIONS AND WARRANTIES	36

ARTICLE VI	COVENANTS	36

SECTION 6.1.	AFFIRMATIVE COVENANTS OF THE COMPANY	36
SECTION 6.2.	NEGATIVE COVENANTS OF THE COMPANY	37

ARTICLE VII	ADDITIONAL AGREEMENTS	39

SECTION 7.1.	ACCESS AND INFORMATION

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