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Title: |
Agreement and Plan of Merger |
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Date: |
2007 |
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Preview shows 13KB of 145KB total |
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$59 |
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ID: |
#2944345 |
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AGREEMENT AND PLAN OF MERGER
Dated as of July 18, 2007
By and Among
LOCAL.COM CORPORATION,
PREMIERGUIDE, INC.
LOCAL.COM PG ACQUISITION CORPORATION
and
MALCOLM LEWIS
================================================================================
-1-
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PAGE
----
{S} {C}
SECTION 1. DEFINITIONS AND INTERPRETATIONS................................................ 1
1.1 Defined Terms.............................................................. 1
1.2 Principles of Construction................................................. 6
SECTION 2. REPRESENTATIONS OF THE COMPANY................................................. 7
2.1 Existence and Good Standing................................................ 7
2.2 Power; Binding Effect...................................................... 7
2.3 Capitalization; Power...................................................... 7
2.4 Subsidiaries............................................................... 8
2.5 Financial Statements....................................................... 8
2.6 Books and Records.......................................................... 8
2.7 Title to Properties; Encumbrances.......................................... 9
2.8 Owned Real Property........................................................ 9
2.9 Leases..................................................................... 9
2.10 Material Contracts......................................................... 9
2.11 Restrictive Documents...................................................... 10
2.12 Litigation................................................................. 10
2.13 Taxes...................................................................... 11
2.14 Insurance.................................................................. 12
2.15 Intellectual Properties.................................................... 13
2.16 Compliance with Laws....................................................... 15
2.17 Governmental Licenses...................................................... 15
2.18 Labor Matters.............................................................. 15
2.19 Employee Benefit Plans..................................................... 16
2.20 No Changes Since Balance Sheet Date........................................ 19
2.21 Liabilities................................................................ 20
2.22 Consents and Approvals: No Violations...................................... 20
2.23 Disclosure................................................................. 20
2.24 Broker's or Finder's Fees.................................................. 21
2.25 Copies of Documents........................................................ 21
2.26 Interests in Clients, Suppliers, Etc.; Affiliate Transactions.............. 21
2.27 Bank Accounts and Powers of Attorney....................................... 21
2.28 Appointment of Shareholders' Representative................................ 21
SECTION 3. REPRESENTATIONS OF THE BUYER................................................... 21
3.1 Existence and Good Standing................................................ 21
3.2 Power; Binding Effect...................................................... 22
3.3 Broker's or Finder's Fees.................................................. 22
3.4 Litigation................................................................. 22
3.5 Compliance with Laws....................................................... 22
3.6 Consents and Approvals; No Violations...................................... 22
{/TABLE}
-i-
{PAGE}
Table of Contents (cont.)
{TABLE}
{CAPTION}
PAGE
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{S} {C}
SECTION 4. THE TRANSACTION................................................................ 23
4.1 The Merger................................................................. 23
4.2 Conversion of Company Stock................................................ 23
4.3 Consideration.............................................................. 24
4.4 Escrow..................................................................... 24
4.5 Exchange of Company Certificates........................................... 25
4.6 Closing.................................................................... 26
4.7 Company Stock Rights; Company Stock Plans.................................. 26
SECTION 5. CERTAIN COVENANTS.............................................................. 26
5.1 Corporate Record Books..................................................... 26
SECTION 6. CONDITIONS PRECEDENT........................................................... 26
6.1 Conditions of all Parties.................................................. 26
6.2 Conditions of the Buyer.................................................... 27
6.3 Conditions of the Company.................................................. 29
SECTION 7. TERMINATION.................................................................... 29
7.1 Intentionally Omitted...................................................... 29
SECTION 8. INDEMNIFICATION................................................................ 29
8.1 Survival of Representations................................................ 29
8.2 Indemnification............................................................ 30
8.3 Special Indemnification.................................................... 31
8.4 Indemnification Procedure.................................................. 31
SECTION 9. TAX MATTERS.................................................................... 33
9.1 Tax Returns................................................................ 33
9.2 Payment of Taxes........................................................... 33
9.3 Controversies.............................................................. 34
9.4 Amended Tax Returns........................................................ 35
9.5 Prior Tax Agreements....................................................... 35
9.6 Adjustments................................................................ 35
SECTION 10. MISCELLANEOUS................................................................. 35
10.1 Knowledge.................................................................. 35
10.2 Expenses................................................................... 35
10.3 Confidentiality............................................................ 35
10.4 Governing Law; Jurisdiction; Disputes...................................... 36
10.5 Notices.................................................................... 36
10.6 Parties in Interest........................................................ 37
10.7 Counterparts............................................................... 37
10.8 Entire Agreement........................................................... 37
10.9 Amendments................................................................. 37
{/TABLE}
-ii-
{PAGE}
{TABLE}
{CAPTION}
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{S} {C}
10.10 Severability............................................................... 37
10.11 Third Party Beneficiaries.................................................. 37
10.12 Shareholders' Representative............................................... 38
{/TABLE}
EXHIBIT A FORM OF CERTIFICATE OF MERGER
EXHIBIT B FORM OF EMPLOYMENT AGREEMENT
EXHIBIT C FORM OF CONSULTING AGREEMENT
EXHIBIT D FORM OF NON-COMPETITION AGREEMENT
-iii-
{PAGE}
AGREEMENT AND PLAN OF MERGER
This AGREEMENT AND PLAN OF MERGER (as the same may be amended, modified
and supplemented from time to time, this "Agreement") dated as of July 18, 2007
by and among LOCAL.COM CORPORATION, a Delaware corporation (the "Buyer"),
PREMIERGUIDE, INC., a Delaware corporation (the "Company"), LOCAL.COM PG
ACQUISITION CORPORATION, a Delaware corporation and a wholly-owned subsidiary of
the Buyer ("Merger Sub"), and Malcolm Lewis, an individual (the "Shareholders'
Representative"; the Buyer, the Company, Merger Sub and the Shareholders'
Representative each, a "Party" and, collectively, the "Parties").
W I T N E S S E T H :
WHEREAS, the board of directors of each of the Buyer, the Company and
Merger Sub has approved, and deems it fair, advisable and in the best interests
of its respective companies and stockholders to consummate, the merger of the
Company with and into Merger Sub upon the terms and subject to the conditions
set forth herein (collectively, the "Merger"); and
WHEREAS, in furtherance of the Merger, the board of directors of each of
the Buyer, the Company and Merger Sub has approved this Agreement and the
transactions contemplated herein upon the terms and subject to the conditions
set forth in this Agreement;
NOW, THEREFORE, in consideration of the premises and of the mutual
covenants, representations, warranties and agreements herein contained, the
Parties agree as follows:
SECTION 1.
DEFINITIONS AND INTERPRETATIONS
1.1 Defined Terms. In this Agreement the following words and expressions
shall have the following meanings (such meaning to be equally applicable to both
the singular and plural forms of the terms defined):
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