AMENDMENT NO. 1 TO AGREEMENT AND PLAN OF MERGER
Exhibit
2.2
AMENDMENT
NO. 1
TO
This
Amendment No. 1 to Agreement and Plan of Merger (this "Amendment"),
dated
as of February 23, 2007, by and among The Exploration Company of Delaware,
Inc.,
a Delaware corporation ("Parent"),
Output Acquisition Corp., a Texas corporation and a wholly-owned Subsidiary
of
Parent ("Sub"),
and
Output Exploration, LLC, a Delaware limited liability company (the "Company")
amends
that certain Agreement and Plan of Merger, dated as of February 20, 2007, by
and
among Parent, Sub and the Company (the "Merger
Agreement").
Capitalized terms used and not defined herein shall have the meanings given
to
them in the Merger Agreement.
WHEREAS,
the parties to the Merger Agreement desire to amend Section 5.9(c) to clarify
the parties' original intent with respect to the obligations set forth
therein;
NOW,
THEREFORE, in consideration of the foregoing and the respective representations,
warranties, covenants and agreements set forth in the Merger Agreement and
this
Amendment, the parties hereto agree as follows:
1.
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Amendment
to Section 5.9(c) of the Merger Agreement.
Section 5.9(c) of the Merger Agreement is hereby amended by restating
such
subsection in its entirety as
follows:
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"(c) Parent
will forward to the purchaser of the California Assets, as soon as practicable
after receipt thereof, any payments or other amounts received by Parent or
the
Companies following the closing of the California Sale from any third party
in
respect of the California Assets that are attributable to periods following
the
effective date of the California Sale and to which such purchaser is entitled
under the agreements entered into by the Company in connection with the
California Sale; and"
2.
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Effect
on Agreement.
Upon execution of this Amendment, each reference in the Merger Agreement
to "this Agreement," "hereunder," "hereof," "herein" or words of
similar
import, and each similar reference in any document related thereto,
or
executed in connection therewith, shall mean and be a reference to
the
Merger Agreement as amended by this Amendment, and the Merger Agreement
and this Amendment shall be read together and construed as one single
instrument. This Amendment is intended to amend the Merger Agreement.
Except as specifically set forth herein, all other terms and conditions
of
the Merger Agreement shall remain in full force and effect without
modification.
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3.
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Counterparts.
This Amendment may be executed in multiple counterparts, and by the
different parties hereto in separate counterparts, each of which
when
executed shall be deemed to be an original but all of which taken
together
shall constitute one and the same
agreement.
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Executed
as of the date first written above.
PARENT:
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The
Exploration Company of Delaware, Inc.
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By:
/s/
P. Xxxx Xxxxx
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Name:
P. Xxxx Xxxxx
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Title:
Chief Financial Officer
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SUB:
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Output
Acquisition Corp.
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By:
/s/
X. X. Xxxxxxx
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Name:
M. Xxxxx Xxxxxxx
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Title:
Vice President
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COMPANY:
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Output
Exploration, LLC
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By:
/s/
Xxxxxx X. Brook
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Name:
Xxxxxx X. Brook
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Title:
President
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