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Title: |
Agreement and Plan of Merger |
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Date: |
2004 |
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Preview shows 15KB of 269KB total |
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$97 |
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ID: |
#664977 |
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AGREEMENT AND PLAN OF MERGER
AMONG
FIDELITY NATIONAL FINANCIAL, INC.,
FIDELITY NATIONAL INFORMATION SERVICES, INC.,
FUSCIA MERGER SUB, INC.
AND
INTERCEPT, INC.
Dated as of September 8, 2004
================================================================================
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
ARTICLE 1 DEFINITIONS........................................................................ 2
ARTICLE 2 THE MERGER......................................................................... 10
SECTION 2.01 The Merger.................................................................... 10
SECTION 2.02 Effective Time; Closing....................................................... 10
SECTION 2.03 Effect of the Merger.......................................................... 10
SECTION 2.04 Articles of Incorporation; Bylaws............................................. 10
SECTION 2.05 Directors and Officers........................................................ 10
ARTICLE 3 CONVERSION OF SECURITIES; EXCHANGE OF CERTIFICATES................................. 11
SECTION 3.01 Conversion of Securities...................................................... 11
SECTION 3.02 Exchange of Certificates...................................................... 15
SECTION 3.03 Stock Transfer Books.......................................................... 17
SECTION 3.04 Company Stock Options......................................................... 18
SECTION 3.05 Dissenting Shares............................................................. 19
ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF THE COMPANY...................................... 20
SECTION 4.01 Organization and Qualification; Subsidiaries.................................. 20
SECTION 4.02 Articles of Incorporation and Bylaws.......................................... 21
SECTION 4.03 Capitalization................................................................ 21
SECTION 4.04 Authority Relative to This Agreement.......................................... 23
SECTION 4.05 No Conflict; Required Filings and Consents.................................... 23
SECTION 4.06 Permits; Compliance........................................................... 24
SECTION 4.07 SEC Filings; Financial Statements............................................. 24
SECTION 4.08 Undisclosed Liabilities....................................................... 25
SECTION 4.09 Absence of Certain Changes or Events.......................................... 26
SECTION 4.10 Absence of Litigation......................................................... 28
SECTION 4.11 Employee Benefit Plans; Labor Matters......................................... 28
SECTION 4.12 Contracts..................................................................... 31
SECTION 4.13 Environmental Matters......................................................... 34
SECTION 4.14 Title to Properties; Absence of Liens and Encumbrances........................ 34
SECTION 4.15 Intellectual Property......................................................... 35
SECTION 4.16 Taxes......................................................................... 38
SECTION 4.17 [Intentionally Omitted]....................................................... 40
SECTION 4.18 Interested Party Transactions................................................. 40
SECTION 4.19 Insurance..................................................................... 40
SECTION 4.20 Board Approval; Vote Required................................................. 41
SECTION 4.21 Opinion of Financial Advisor.................................................. 41
SECTION 4.22 Brokers....................................................................... 41
SECTION 4.23 Customers and Suppliers....................................................... 41
SECTION 4.24 Restrictions on Business Activities........................................... 42
{/TABLE}
i
{PAGE}
{TABLE}
{S} {C}
SECTION 4.25 No Illegal Payments........................................................... 42
SECTION 4.26 Information Supplied.......................................................... 42
ARTICLE 5 REPRESENTATIONS AND WARRANTIES OF PARENT, FNIS AND MERGER SUB...................... 42
SECTION 5.01 Organization and Qualification; Subsidiaries.................................. 43
SECTION 5.02 Certificate of Incorporation and Bylaws....................................... 43
SECTION 5.03 Capitalization................................................................ 43
SECTION 5.04 Authority Relative to this Agreement.......................................... 44
SECTION 5.05 No Conflict; Required Filings and Consents.................................... 44
SECTION 5.06 SEC Filings; Financial Statements............................................. 45
SECTION 5.07 [Intentionally Omitted]....................................................... 45
SECTION 5.08 Operations of FNIS and Merger Sub............................................. 46
SECTION 5.09 Brokers....................................................................... 46
SECTION 5.10 Board Approval; Vote Required................................................. 46
SECTION 5.11 Undisclosed Liabilities....................................................... 46
SECTION 5.12 Absence of Certain Changes or Events.......................................... 46
SECTION 5.13 Absence of Litigation......................................................... 46
SECTION 5.14 Financing..................................................................... 47
SECTION 5.15 Information Supplied.......................................................... 47
SECTION 5.16 Compliance.................................................................... 47
SECTION 5.17 Intellectual Property......................................................... 47
SECTION 5.18 Employee Benefit Plans........................................................ 47
ARTICLE 6 CONDUCT OF BUSINESS PENDING THE MERGER............................................. 48
SECTION 6.01 Conduct of Business by the Company Pending the Merger......................... 48
SECTION 6.02 Conduct of Business by Parent Pending the Merger.............................. 51
SECTION 6.03 Notification of Certain Matters............................................... 52
SECTION 6.04 Cooperation Regarding IPO of FNIS............................................. 52
ARTICLE 7 ADDITIONAL AGREEMENTS.............................................................. 52
SECTION 7.01 Registration Statement; Proxy Statement....................................... 52
SECTION 7.02 Company Shareholders' Meeting................................................. 55
SECTION 7.03 Access to Information; Confidentiality........................................ 55
SECTION 7.04 No Solicitation of Transactions............................................... 56
SECTION 7.05 Letters of the Company's Accountants.......................................... 57
SECTION 7.06 Indemnification and Insurance of Directors, Officers, Employees and Agents.... 57
SECTION 7.07 Obligations of Merger Sub. Each of........................................... 59
SECTION 7.08 Affiliate Agreements.......................................................... 59
SECTION 7.09 Further Action; Consents; Filings............................................. 60
SECTION 7.10 Credit Facility............................................................... 61
SECTION 7.11 Public Announcements.......................................................... 61
SECTION 7.12 Listing....................................................................... 61
{/TABLE}
ii
{PAGE}
{TABLE}
{S} {C}
SECTION 7.13 Litigation.................................................................... 61
SECTION 7.14 Shareholder's Agreement Legend................................................ 61
SECTION 7.15 Reasonable Best Efforts and Further Assurances................................ 62
SECTION 7.16 Employee Benefits............................................................. 62
SECTION 7.17 No Obligation to Employ....................................................... 62
SECTION 7.18 Section 16 Matters............................................................ 63
ARTICLE 8 CONDITIONS TO THE MERGER........................................................... 63
SECTION 8.01 Conditions to the Obligations of Each Party................................... 63
SECTION 8.02 Conditions to the Obligations of Parent, FNIS and Merger Sub.................. 64
SECTION 8.03 Conditions to the Obligations of the Company.................................. 65
ARTICLE 9 TERMINATION, AMENDMENT AND WAIVER.................................................. 66
SECTION 9.01 Termination................................................................... 66
SECTION 9.02 Effect of Termination......................................................... 68
SECTION 9.03 Amendment..................................................................... 68
SECTION 9.04 Waiver........................................................................ 68
SECTION 9.05 Fees and Expenses............................................................. 68
ARTICLE 10 GENERAL PROVISIONS................................................................ 70
SECTION 10.01 Non-Survival of Representations, Warranties and Agreements.................... 70
SECTION 10.02 Notices....................................................................... 70
SECTION 10.03 Severability.................................................................. 71
SECTION 10.04 Assignment; Binding Effect; Benefit........................................... 71
SECTION 10.05 Specific Performance.......................................................... 72
SECTION 10.06 Governing Law; Forum.......................................................... 72
SECTION 10.07 Waiver of Jury Trial.......................................................... 72
SECTION 10.08 Headings...................................................................... 72
SECTION 10.09 Counterparts.................................................................. 72
SECTION 10.10 Interpretation................................................................ 72
SECTION 10.11 Entire Agreement.............................................................. 73
{/TABLE}
Exhibit A Form of Affiliate Agreement
iii
{PAGE}
AGREEMENT AND PLAN OF MERGER
This AGREEMENT AND PLAN OF MERGER dated as of September 8, 2004 (this
"AGREEMENT") among FIDELITY NATIONAL FINANCIAL, INC., a Delaware corporation
("PARENT"), FIDELITY NATIONAL INFORMATION SERVICES, INC., a Delaware corporation
and a wholly-owned subsidiary of Parent ("FNIS"), FUSCIA MERGER SUB, INC., a
Georgia corporation and a wholly owned subsidiary of FNIS ("MERGER SUB"), and
INTERCEPT, INC., a Georgia corporation (the "COMPANY"),
W I T N E S S E T H
WHEREAS, upon the terms and subject to the conditions of this Agreement
and in accordance with the Georgia Business Corporation Code (the "GBCC"),
Parent, FNIS and the Company will enter into a business combination transaction
pursuant to which Merger Sub will merge with and into the Company (the
"MERGER"), with the Company being the surviving corporation (the "SURVIVING
CORPORATION") upon the terms and subject to the conditions set forth in this
Agreement;
WHEREAS, the board of directors of the Company (1) has approved, and deems
it advisable and in the best interests of the Company and its shareholders to
consummate, the Merger, upon the terms and subject to the conditions set forth
in this Agreement and (2) has recommended the approval of the Merger and the
adoption of this Agreement by the shareholders of the Company;
WHEREAS, the boards of directors of Parent, FNIS and Merger Sub have
approved this Agreement, the Merger and the other transactions contemplated by
this Agreement;
WHEREAS, simultaneously with the execution and delivery of this Agreement
and as a condition and inducement to the willingness of Parent, FNIS and Merger
Sub to enter into this Agreement, Parent and certain shareholders of the Company
(each a "SIGNIFICANT SHAREHOLDER") are entering into agreements (each a
"SHAREHOLDER'S AGREEMENT") pursuant to which the Significant Shareholders will
agree to vote to adopt this Agreement and to take other actions in furtherance
of the Merger upon the terms and subject to the conditions set forth in such
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