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Document Preview Agreement and Plan of Merger |
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Title: |
Agreement and Plan of Merger |
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Entities: |
E.I. Du Pont De Nemours & Co.; Maxygen, Inc.; Pioneer Hi Bred International Inc.; Gray Cary Ware & Freidenrich |
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Date: |
2004 |
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Size: |
Preview shows 37KB of 179KB total |
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Price: |
$44 |
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ID: |
#318882 |
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Start of Preview |
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AGREEMENT AND PLAN OF MERGER
among
PIONEER HI-BRED INTERNATIONAL, INC.,
an Iowa corporation and a wholly-owned subsidiary of
E.I. du Pont de Nemours and Company (Pioneer),
TANGO MERGER SUB, INC.,
a Delaware corporation and a wholly-owned
subsidiary of Pioneer (Sub),
MAXYGEN, INC.,
a Delaware corporation (Maxygen)
and
VERDIA, INC.,
a Delaware corporation, and a wholly-owned
subsidiary of Maxygen (Verdia)
Dated June 2, 2004
TABLE OF CONTENTS
| Page | ||||
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ARTICLE I THE MERGER |
1 | |||
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Section 1.1 |
Effective Time of the Merger | 1 | ||
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Section 1.2 |
Closing | 1 | ||
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Section 1.3 |
Effects of the Merger | 2 | ||
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Section 1.4 |
Directors and Officers | 2 | ||
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ARTICLE II CONVERSION OF SECURITIES |
2 | |||
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Section 2.1 |
Capital Stock of Sub | 2 | ||
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Section 2.2 |
Verdia Preferred Stock | 2 | ||
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Section 2.3 |
Verdia Common Stock | 2 | ||
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Section 2.4 |
Verdia Options | 3 | ||
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Section 2.5 |
Merger Consideration | 3 | ||
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Section 2.6 |
Effect on Existing Capital Stock | 3 | ||
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Section 2.7 |
Appraisal Rights | 3 | ||
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Section 2.8 |
Exchange of Certificates | 4 | ||
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ARTICLE III REPRESENTATIONS OF VERDIA AND MAXYGEN |
5 | |||
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Section 3.1 |
Representations and Warranties | 5 | ||
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Section 3.2 |
Organization, Standing and Power | 5 | ||
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Section 3.3 |
Authority | 5 | ||
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Section 3.4 |
No Conflicts | 6 | ||
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Section 3.5 |
Governmental Authorization | 6 | ||
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Section 3.6 |
Financial Statements | 6 | ||
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Section 3.7 |
Capital Structure | 7 | ||
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Section 3.8 |
Absence of Certain Changes | 7 | ||
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Section 3.9 |
Absence of Undisclosed Liabilities | 8 | ||
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Section 3.10 |
Litigation | 8 | ||
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Section 3.11 |
Restrictions on Business Activities | 9 | ||
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Section 3.12 |
Intellectual Property | 9 | ||
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Section 3.13 |
Interested Party Transactions | 16 | ||
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Section 3.14 |
Minute Books | 16 | ||
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Section 3.15 |
Complete Copies of Materials | 16 | ||
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Section 3.16 |
Material Contracts | 16 | ||
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Section 3.17 |
Accounts Receivable | 17 | ||
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Section 3.18 |
Collaboration Partners and Suppliers | 17 | ||
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Section 3.19 |
Employees and Consultants | 17 | ||
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Section 3.20 |
Title to Property | 17 | ||
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Section 3.21 |
Environmental Matters | 18 | ||
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Section 3.22 |
Taxes | 19 | ||
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Section 3.23 |
Employee Benefit Plans | 20 | ||
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Section 3.24 |
Employee Matters | 23 | ||
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Section 3.25 |
Insurance | 23 | ||
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Section 3.26 |
Compliance With Laws | 23 | ||
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Section 3.27 |
Brokers and Finders Fee | 23 | ||
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Section 3.28 |
Privacy Policies and Web Site Terms and Conditions | 24 | ||
-i-
TABLE OF CONTENTS
(continued)
| Page | ||||
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Section 3.29 |
International Trade Matters | 24 | ||
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Section 3.30 |
Representations Complete | 25 | ||
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ARTICLE IV REPRESENTATIONS AND WARRANTIES OF PIONEER AND SUB |
25 | |||
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Section 4.1 |
Organization | 25 | ||
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Section 4.2 |
Authority; No Conflict; Required Filings and Consents | 25 | ||
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ARTICLE V CONDUCT PRIOR TO THE EFFECTIVE TIME |
26 | |||
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Section 5.1 |
Conduct of Business of Verdia | 26 | ||
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Section 5.2 |
No Solicitation | 29 | ||
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Section 5.3 |
Updates to Disclosure Schedule | 29 | ||
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ARTICLE VI ADDITIONAL AGREEMENTS |
30 | |||
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Section 6.1 |
Public Disclosure | 30 | ||
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Section 6.2 |
Employment Matters | 30 | ||
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Section 6.3 |
Prohibition on Solicitation and Hiring | 30 | ||
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Section 6.4 |
Access to Information | 30 | ||
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Section 6.5 |
Confidentiality | 31 | ||
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Section 6.6 |
Regulatory Approval; Further Assurances | 31 | ||
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Section 6.7 |
Verdia Options | 32 | ||
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Section 6.8 |
Noncompetition | 32 | ||
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Section 6.9 |
Non-Assertion | 33 | ||
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Section 6.10 |
Tax Matters | 34 | ||
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Section 6.11 |
Additional Agreements; Reasonable Efforts | 35 | ||
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Section 6.12 |
Expenses | 36 | ||
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Section 6.13 |
Notice to Delta and Pine Land Company | 36 | ||
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Section 6.14 |
Execution of Ancillary Agreements | 36 | ||
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Section 6.15 |
Payables to Maxygen | 36 | ||
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Section 6.16 |
Reimbursement for Exercised Options | 37 | ||
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Section 6.17 |
Sublease Agreement | 37 | ||
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Section 6.18 |
Conversion of Verdia Preferred Stock | 37 | ||
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Section 6.19 |
Physical Delivery of Agreements | 37 | ||
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Section 6.20 |
Governmental Permits; Environmental Matters | 37 | ||
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ARTICLE VII CONDITIONS TO CLOSING |
38 | |||
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Section 7.1 |
Conditions to Obligations of Each Party to Effect the Merger | 38 | ||
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Section 7.2 |
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