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Agreement and Plan of Merger

 

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Title:

Agreement and Plan of Merger

Entities:

First Busey Corp.

Date:

2006

Size:

155KB total

Price:

$63

ID:

#2519219

 

 

► Plans ► Agreements ► Agreements & Plans of Merger
► Financial ► Regional Banks

 

 

Start of Preview

 

Agreement and Plan of Merger

 

dated September 20, 2006

 

between

 

FIRST BUSEY CORPORATION

 

and

 

MAIN STREET TRUST, INC.

 

 



TABLE OF CONTENTS

Article I

 

Definitions; Interpretation

 

 

 

 

 

 

 

Section 1.01.

 

Definitions

 

 

Section 1.02.

 

Interpretation

 

 

 

 

 

 

 

Article II

 

The Merger

 

 

 

 

 

 

 

Section 2.01.

 

The Merger

 

 

Section 2.02.

 

Closing

 

 

Section 2.03.

 

Effective Time

 

 

Section 2.04.

 

Effects of the Merger

 

 

Section 2.05.

 

Constituent Documents

 

 

Section 2.06.

 

Directors and Officers of the Surviving Corporation

 

 

Section 2.07.

 

Name and Location of Surviving Corporation

 

 

Section 2.08.

 

Bank Merger

 

 

Section 2.09.

 

Directors and Officers of the Resulting Bank

 

 

Section 2.10.

 

Directors of Busey Investment Group

 

 

 

 

 

 

 

Article III

 

Consideration; Exchange Procedures

 

 

 

 

 

 

 

Section 3.01.

 

Consideration

 

 

Section 3.02.

 

Cancellation of Shares

 

 

Section 3.03.

 

Rights as Shareholders; Stock Transfers

 

 

Section 3.04.

 

Exchange Procedures

 

 

Section 3.05.

 

Fractional Shares

 

 

Section 3.06.

 

Anti-Dilution Adjustments

 

 

Section 3.07.

 

Dissenting Shareholders

 

 

Section 3.08.

 

Effect on First Busey Stock

 

 

Section 3.09.

 

Stock Options

 

 

 

 

 

 

 

Article IV

 

Conduct of Business Pending the Merger

 

 

 

 

 

 

 

Section 4.01.

 

Forebearances of Main Street

 

 

Section 4.02.

 

Forebearances of First Busey

 

 

Section 4.03.

 

Coordination of Dividends

 

 

 

 

 

 

 

Article V

 

Representations and Warranties

 

 

 

 

 

 

 

Section 5.01.

 

Disclosure Schedules

 

 

Section 5.02.

 

Standard

 

 

Section 5.03.

 

Representations and Warranties

 

 

 

 

 

 

 

Article VI

 

Covenants

 

 

 

 

 

 

 

Section 6.01.

 

Reasonable Best Efforts

 

 

Section 6.02.

 

Shareholder Approvals

 

 

Section 6.03.

 

SEC Filings

 

 

 

 

i



 

Section 6.04.

 

Press Releases

 

 

Section 6.05.

 

Access; Information

 

 

Section 6.06.

 

Acquisition Proposals

 

 

Section 6.07.

 

Affiliate Agreements

 

 

Section 6.08.

 

Takeover Laws and Provisions

 

 

Section 6.09.

 

Exchange Listing

 

 

Section 6.10.

 

Regulatory Applications

 

 

Section 6.11.

 

Indemnification

 

 

Section 6.12.

 

Employee Matters

 

 

Section 6.13.

 

Notification of Certain Matters

 

 

Section 6.14.

 

Employment Agreements

 

 

 

 

 

 

 

Article VII

 

Conditions to the Merger

 

 

 

 

 

 

 

Section 7.01.

 

Conditions to Each Partys Obligation to Effect the Merger

 

 

Section 7.02.

 

Conditions to Main Streets Obligation

 

 

Section 7.03.

 

Conditions to First Buseys Obligation

 

 

 

 

 

 

 

Article VIII

 

Termination

 

 

 

 

 

 

 

Section 8.01.

 

Termination

 

 

Section 8.02.

 

Effect of Termination; Expenses

 

 

Section 8.03.

 

Main Street Termination Payments

 

 

Section 8.04.

 

First Busey Termination Payments

 

 

 

 

 

 

 

Article IX

 

Miscellaneous

 

 

 

 

 

 

 

Section 9.01.

 

Survival

 

 

Section 9.02.

 

Waiver; Amendment

 

 

Section 9.03.

 

Counterparts