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Title: |
Agreement and Plan of Merger |
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Entities: |
Mid-State Bancshares; Nasdaq Stock Market Inc.; Sullivan & Cromwell; Wachtell, Lipton, Rosen & Katz |
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Date: |
2006 |
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Size: |
Preview shows 6KB of 198KB total |
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Price: |
$74 |
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ID: |
#2611411 |
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AGREEMENT AND PLAN OF MERGER
dated as of November 1, 2006
among
VIB CORP,
CHARDONNAY MERGER SUB CORP.
and
MID-STATE BANCSHARES
================================================================================
{PAGE}
TABLE OF CONTENTS
Page
----
ARTICLE I
DEFINITIONS; INTERPRETATION
1.01. DEFINITIONS...........................................................1
1.02. INTERPRETATION.......................................................10
ARTICLE II
THE MERGER
2.01. THE MERGER...........................................................11
2.02. CLOSING..............................................................11
2.03. EFFECTIVE TIME.......................................................12
2.04. EFFECTS OF THE MERGER................................................12
2.05. ARTICLES OF INCORPORATION AND BY-LAWS................................12
ARTICLE III
CONSIDERATION; EXCHANGE PROCEDURES
3.01. CONSIDERATION........................................................12
3.02. CANCELLATION OF SHARES; STOCK TRANSFERS..............................12
3.03. MERGER SUB STOCK.....................................................13
3.04. EXCHANGE PROCEDURES..................................................13
3.05. STOCK OPTIONS........................................................14
3.06. DISSENTING SHARES....................................................15
ARTICLE IV
CONDUCT OF BUSINESS PENDING THE MERGER
4.01. FORBEARANCES OF THE COMPANY..........................................15
4.02. FORBEARANCES OF ACQUIROR.............................................19
ARTICLE V
REPRESENTATIONS AND WARRANTIES
5.01. DISCLOSURE SCHEDULES.................................................20
5.02. STANDARD.............................................................20
5.03. REPRESENTATIONS AND WARRANTIES OF THE COMPANY........................21
5.04. REPRESENTATIONS AND WARRANTIES OF ACQUIROR...........................37
-i-
{PAGE}
TABLE OF CONTENTS
(continued)
Page
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ARTICLE VI
COVENANTS
6.01. REASONABLE BEST EFFORTS..............................................38
6.02. SHAREHOLDER APPROVAL.................................................38
6.03. PROXY STATEMENT......................................................39
6.04. PRESS RELEASES.......................................................40
6.05. ACCESS; INFORMATION..................................................40
6.06. ACQUISITION PROPOSALS................................................41
6.07. TAKEOVER LAWS AND PROVISIONS.........................................42
6.08. REGULATORY APPLICATIONS; THIRD-PARTY CONSENTS; ESTOPPEL
CERTIFICATES.........................................................42
6.09. NO RIGHTS TRIGGERED..................................................43
6.10. INDEMNIFICATION......................................................43
6.11. FUNDS................................................................45
6.12. EMPLOYEE MATTERS.....................................................45
6.13. NOTIFICATION OF CERTAIN MATTERS......................................48
6.14. CERTAIN MODIFICATIONS................................................49
6.15. REGULATORY COMPLIANCE................................................49
6.16. OTHER MERGERS........................................................49
ARTICLE VII
CONDITIONS TO THE MERGER
7.01. CONDITIONS TO EACH PARTY'S OBLIGATION TO EFFECT THE MERGER...........50
7.02. CONDITIONS TO THE COMPANY'S OBLIGATION...............................50
7.03. CONDITIONS TO ACQUIROR'S OBLIGATION..................................51
ARTICLE VIII
TERMINATION
8.01. TERMINATION..........................................................52
8.02. EFFECT OF TERMINATION AND ABANDONMENT................................53
8.03. TERMINATION FEE......................................................53
8.04. SPECIFIC PERFORMANCE.................................................55
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