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Title: |
Agreement and Plan of Merger |
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Date: |
2006 |
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Preview shows 13KB of 104KB total |
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$43 |
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ID: |
#2346270 |
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AGREEMENT AND PLAN OF MERGER
BY AND BETWEEN
GLOBAL ENVIROTECH, INC.
AND
QLINKS AMERICA, INC.
May 25, 2006
{PAGE}
TABLE OF CONTENTS
ARTICLE I Definitions.............................................1
ARTICLE II Transactions; Terms of Transaction; Manner of Converting Shares...5
2.1 Transaction.................................................5
2.2 Time and Place of Closing...................................5
2.3 Effective Time..............................................5
2.4 Charter.....................................................5
2.5 Bylaws......................................................6
2.6 Directors and Officers......................................6
2.7 Conversion of Shares........................................6
2.8 Exchange of Shares..........................................6
2.9 Rights of Former QLINKS Stockholders........................7
2.10 Legending of Shares.........................................7
2.11 Fractional Shares...........................................7
2.12 Lost, Stolen or Destroyed Certificates......................7
ARTICLE III Representations and Warranties of GLOBAL, PURCHASER and
GLOBAL SHAREHOLDERS....................................8
3.1 Organization; Standing and Power............................8
3.2 Authorization; Enforceability...............................8
3.3 No Violation or Conflict....................................8
3.4 Consents of Governmental Authorities and Others.............9
3.5 Conduct of Business.........................................9
3.6 Litigation..................................................9
3.7 Brokers.....................................................9
3.8 Compliance..................................................10
3.9 Charter, Bylaws and Corporate Records.......................10
3.10 Subsidiaries and Investments................................10
3.11 Capitalization..............................................10
3.12 Rights, Warrants, Options...................................10
{PAGE}
3.13 Commission Filings and Financial Statements.................11
3.14 Absence of Undisclosed Liabilities..........................11
3.15 Real Property...............................................11
3.16 List of Accounts and Proxies................................11
3.17 Personnel...................................................11
3.18 Employment Agreements and Employee Benefit Plans............12
3.19 Tax Matters.................................................12
3.20 Material Agreements.........................................14
3.21 Guaranties..................................................14
3.22 Environmental Matters.......................................15
3.23 Absence of Certain Business Practices.......................15
3.24 Disclosure..................................................15
ARTICLE IV Representations and Warranties of QLINKS................16
4.1 Organization................................................16
4.2 Authorization; Enforceability...............................16
4.3 No Violation or Conflict....................................16
4.4 Consents of Governmental Authorities and Others.............16
4.5 Brokers.....................................................17
4.6 Charter, Bylaws and Corporate Records.......................17
4.7 Subsidiaries and Investments................................17
4.8 Capitalization..............................................17
4.9 Rights, Warrants, Options...................................17
ARTICLE V Additional Agreements...................................17
5.1 Survival of the Representations and Warranties..............17
5.2 Investigation...............................................18
5.4 Indemnity Procedure.........................................18
{PAGE}
ARTICLE VI Closing; Deliveries; Conditions Precedent...............19
6.1 Closing; Effective Date.....................................19
6.2 Deliveries..................................................19
6.3 Conditions Precedent to the Obligations of QLINKS...........21
6.4 Conditions Precedent to the Obligations of GLOBAL...........22
6.5 Best Efforts................................................22
6.6 Termination.................................................22
ARTICLE VII Covenants...............................................23
7.1 General Confidentiality.....................................23
7.2 Continuing Obligations......................................24
7.3 Satisfaction of Certain Outstanding Payables................24
7.4 Tax Matters.................................................24
ARTICLE VIII Miscellaneous...........................................25
8.1 Notices.....................................................25
8.2 Entire Agreement; Incorporation.............................26
8.3 Binding Effect..............................................26
8.4 Assignment..................................................26
8.5 Waiver and Amendment........................................26
8.6 No Third Party Beneficiary..................................26
8.7 Severability................................................26
8.8 Expenses....................................................26
8.9 Headings....................................................27
8.10 Other Remedies; Injunctive Relief...........................27
8.11 Counterparts................................................27
8.12 Remedies Exclusive..........................................27
8.13 Governing Law...............................................27
8.14 Jurisdiction and Venue......................................27
8.14 Participation of Parties....................................28
8.14 Further Assurances..........................................28
8.14 Publicity...................................................28
{PAGE}
AGREEMENT AND PLAN OF MERGER
AGREEMENT AND PLAN OF MERGER (the "Agreement"), made and entered into
as of this 16th day of June, 2006, by and among QLINKS AMERICA, INC., a Colorado
Corporation ("QLINKS"), and GLOBAL Envirotech, INC., a Colorado Corporation
("GLOBAL").
W I T N E S S E T H:
Recitals
WHEREAS, the parties desire to enter into a merger of GLOBAL into QLINKS;
WHEREAS, the respective Boards of Directors of QLINKS and GLOBAL deem
the transactions described herein to be in the best interests of their
respective companies and their respective shareholders;
WHEREAS, it is the intention of the parties hereto that (a) QLINKS will
cause a statutory merger to occur with GLOBAL, whereby GLOBAL is merged into
QLINKS and (b) QLINKS as the surviving company and as owner of 90.6% of the
equity interest in GLOBAL shall continue to conduct its business and operations
as the operating company;
WHEREAS, each of the parties intends that the restructuring of the
above-mentioned corporations required in order to effect such Merger (the
"Merger") shall be effected in the manner provided for herein and it is the
intention of the parties to this Agreement that the transaction for federal
income tax purposes shall qualify as a "Merger" within the meaning of Section
368(a) of the Code; and
WHEREAS, the transactions described in this Agreement are subject to
the satisfaction of certain other conditions described in this Agreement.
NOW, THEREFORE, in consideration of the above and the mutual
warranties, representations, covenants, and agreements set forth herein, the
parties agree as follows:
{PAGE}
ARTICLE I
Definitions
In addition to terms defined elsewhere in this Agreement, the following
terms when used in this Agreement shall have the meanings indicated below:
"Affiliate" shall mean with respect to a specified Person, any other
Person which, directly or indirectly through one or more intermediaries,
controls or is controlled by or is under common control with such Person, and
without limiting the generality of the foregoing, includes, with respect to a
Person (a) any other Person which beneficially owns or holds ten percent (10%)
or more of any class of voting securities or other securities convertible into
voting securities of such Person or beneficially owns or holds ten percent (10%)
or more of any other equity interests in such Person, (b) any other Person with
respect to which such Person beneficially owns or holds ten percent (10%) or
more of any class of voting securities or other securities convertible into
voting securities of such Person, or owns or holds ten percent (10%) or more of
the equity interests of the other Person, and (c) any director or senior officer
of such Person. For purposes of this definition, the term "control" (including,
with correlative meanings, the terms "controlled by" and "under common control
with"), as used with respect to any Person, means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and
policies of such Person, whether through the ownership of voting securities or
by contract or otherwise.
"Agreement" shall mean this Agreement and Plan of Merger together with
all exhibits and schedules referred to herein, which exhibits and schedules are
incorporated herein and made a part hereof.
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