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Agreement and Plan of Reorganization and Merger

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Title:

Agreement and Plan of Reorganization and Merger

Entities:

Western Power & Equipment Corp.

Date:

2000

Size:

Preview shows 39KB of 148KB total

Price:

$72

ID:

#289951

► Plans ► Agreements ► Reorganization ► Agreements & Plans of Reorganization & Merger
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Prepared by MERRILL CORPORATION www.edgaradvantage.com EX-10.3 4 a2033394zex-10_3.htm EXHIBIT 10.3 QuickLinks -- Click here to rapidly navigate through this document

AGREEMENT AND PLAN OF REORGANIZATION AND MERGER

BY AND AMONG

WESTERN POWER & EQUIPMENT CORP.,

E-MOBILE, INC.,

AND

E-MOBILE HOLDINGS, INC.

DATED AS OF NOVEMBER 1, 2000

TABLE OF CONTENTS

		Page
ARTICLE I. THE MERGERS
	SECTION 1.1. Certificate of Incorporation and Bylaws of Parent	1
	SECTION 1.2. The Western Power Merger	1
	SECTION 1.3. The E-Mobile Merger	2
	SECTION 1.4. Effective Time of the Mergers	2
	SECTION 1.5. Closing	2
	SECTION 1.6. Effect of the Mergers	2
	SECTION 1.7. Articles or Certificate of Incorporation and Bylaws of the Surviving Corporations	3
	SECTION 1.8. Directors and Officers of the Surviving Corporations	3
ARTICLE II. CONVERSION OF SECURITIES
	SECTION 2.1. Conversion of Western Power Capital Stock	3
	SECTION 2.2. Conversion of E-Mobile Capital Stock	4
	SECTION 2.3. Cancellation of Parent Common Stock	4
	SECTION 2.4. Exchange of Certificates	5
	SECTION 2.5. Dissenting Shares	7
ARTICLE III. REPRESENTATIONS AND WARRANTIES OF WESTERN POWER
	SECTION 3.1. Organization of Western Power	8
	SECTION 3.2. Western Power Capital Structure	8
	SECTION 3.3. Authority; No Conflict; Required Filings and Consents	9
	SECTION 3.4. SEC Filings	10
	SECTION 3.5. No Liabilities	10
	SECTION 3.6. Taxes	10
	SECTION 3.7. Litigation	11
	SECTION 3.8. Employment and Consulting Relationships	11
	SECTION 3.9. Accounting and Tax Matters	11
	SECTION 3.10. Registration Statement; Joint Proxy Statement/Prospectus	11
	SECTION 3.11. No Existing Discussions	12
	SECTION 3.12. Section 203 of the DGCL Not Applicable	12
	SECTION 3.13. Complete Disclosure	12
	SECTION 3.14. No Defense	12
ARTICLE IV. REPRESENTATIONS AND WARRANTIES OF E-MOBILE
	SECTION 4.1. Organization of E-Mobile	13
	SECTION 4.2. E-Mobile Capital Structure	13
	SECTION 4.3. Authority; No Conflict; Required Filings and Consents	14
	SECTION 4.4. Business Plan	14
	SECTION 4.5. Financial Statements	15
	SECTION 4.6. Licenses and Permits	15
	SECTION 4.7. Leases	15
	SECTION 4.8. Property	15
	SECTION 4.9. Contracts	15
	SECTION 4.10. No Undisclosed Liabilities	15
	SECTION 4.11. Guarantor of Payment	16
	SECTION 4.12. Absence of Certain Changes or Events	16

	SECTION 4.13. Taxes	16
	SECTION 4.14. Intellectual Property	16
	SECTION 4.15. Agreements, Contracts and Commitments	16
	SECTION 4.16. Litigation	17
	SECTION 4.17. Environmental Matters	17
	SECTION 4.18. Employment and Consulting Relationships	17
	SECTION 4.19. Compliance With Laws	17
	SECTION 4.20. Accounting and Tax Matters	18
	SECTION 4.21. Registration Statement; Joint Proxy Statement/Prospectus	18
	SECTION 4.22. Labor Matters	18
	SECTION 4.23. Insurance	18
	SECTION 4.24. No Existing Discussions	18
	SECTION 4.25. Section 203 of the DGCL Not Applicable	19
	SECTION 4.26. Complete Disclosure	19
	SECTION 4.27. No Defense	19
ARTICLE V. COVENANTS
	SECTION 5.1. Conduct of Business	19
	SECTION 5.2. Cooperation; Notice; Cure	21
	SECTION 5.3. No Solicitation	21
	SECTION 5.4. Joint Proxy Statement/Prospectus; Registration Statement	21
	SECTION 5.5. Nasdaq Quotation	22
	SECTION 5.6. Access to Information	22
	SECTION 5.7. Stockholders Meetings	22
	SECTION 5.8. Legal Conditions to Merger	22
	SECTION 5.9. Public Disclosure	23
	SECTION 5.10. Tax-Free Transfer	23
	SECTION 5.11. Affiliate Agreements	23
	SECTION 5.12. Nasdaq Quotation	23
	SECTION 5.13. Stock Plans	24
	SECTION 5.14. Brokers or Finders	24
	SECTION 5.15. Private Placements	25
	SECTION 5.16. Sale of Western Power Assets	25
	SECTION 5.17. Post-Merger Parent Corporate Governance	25
	SECTION 5.18. Confidentiality Agreements and Restrictive Covenants	25
	SECTION 5.19. Lock-Up	26
ARTICLE VI. CONDITIONS TO MERGER
	SECTION 6.1. Conditions to Each Party's Obligation to Effect the Mergers	26
	SECTION 6.2. Additional Conditions to Obligations of Western Power	27
	SECTION 6.3. Additional Conditions to Obligations of E-Mobile	28
ARTICLE VII. TERMINATION AND AMENDMENT
	SECTION 7.1. Termination	29
	SECTION 7.2. Effect of Termination	29
	SECTION 7.3. Fees and Expenses	30
	SECTION 7.4. Amendment	30
	SECTION 7.5. Extension; Waiver	30


ARTICLE VIII. MISCELLANEOUS
	SECTION 8.1. Survival of Representations, Warranties and Agreements.	30
	SECTION 8.2. Notices	30
	SECTION 8.3. Indemnification	31
	SECTION 8.4. Interpretation	34
	SECTION 8.5. Counterparts	34
	SECTION 8.6. Entire Agreement; No Third Party Beneficiaries	34
	SECTION 8.7. Governing Law	34
	SECTION 8.8. Assignment	34

EXHIBITS

Exhibit A	?	Certificate of Incorporation of Parent
Exhibit B	?	Bylaws of Parent
Exhibit C	?	Form of Affiliate Agreement
Exhibit D	?	Form of Parent Stock Plan
Exhibit E	?	List of Management Purchasers
Exhibit F	?	Form of Asset Purchase and Sale Agreement
Exhibit G	?	Western Power Disclosure Schedule
Exhibit H	?	E-Mobile Disclosure Schedule
Exhibit I	?	E-Mobile Business Plan
Exhibit J	?	Indemnification Letter
Exhibit K	?	Lock-Up Agreement

iii

TABLE OF DEFINED TERMS

Terms		Cross Reference in Agreement
Acquisition Proposal		Section 5.3(a)
Additional Placement		Section 5.15(b)
Affiliate		Section 5.11
Affiliate Agreement		Section 5.11
Aggregate Western Power Share Number		Section 2.4(k)(ii)
Aggregate Western Power Shares		Section 2.4(k)(i)
Agreement		Preamble
Asset Purchase and Sale Agreement		Section 5.16(a)
Bank		Section 3.3(a)
Bank Consent Agreement		Section 3.3(a)
Bankruptcy and Equity Exception		Section 3.3(a)
Business Plan		Section 4.4
Case Consent Agreement		Section 3.3(a)
Certificates		Section 2.4(b)
Claim Notice		Section 8.3(c)
Closing		Section 1.5
Closing Date		Section 1.5
Code		Preamble
DGCL		Section 1.2
Dissenting Shares		Section 2.5
E-Mobile		Preamble
E-Mobile Certificate of Merger		Section 1.4(b)
E-Mobile Common Stock		Section 1.3
E-Mobile Director		Section 5.17(a)
E-Mobile Disclosure Schedule		ARTICLE IV
E-Mobile Exchange Ratio		Section 2.2(c)
E-Mobile Lock-Up Obligation		Section 5.19(b)
E-Mobile Lock-Up Period		Section 5.19(b)

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