AGREEMENT AND PLAN OF MERGER
BY AND AMONG
CENTENNIAL TECHNOLOGIES, INC.,
XXXXX.XXX ACQUISITION CORPORATION,
XXXXX.XXX, INC.,
AND
THE SHAREHOLDERS WHOSE SIGNATURES APPEAR
AT THE FOOT OF THIS AGREEMENT
EFFECTIVE AS OF DECEMBER 18, 1996
TABLE OF CONTENTS
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Reference Page #
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1. The Merger..................................................................... 1
2. Conversion of Shares .......................................................... 2
3. Matters Related to the Centennial Shares....................................... 4
4. Closing........................................................................ 5
5 Escrow Agreement............................................................... 6
6. Representations and Warranties of Xxxxx.Xxx and the Warranting
Shareholders................................................................ 6
7. Representations and Warranties of the Shareholders ............................ 18
8. Representations and Warranties of Centennial and FAC .......................... 19
9. No Announcements............................................................... 20
10. Covenants of Xxxxx.Xxx......................................................... 21
11. Covenants of Centennial and FAC................................................ 23
12. Conditions to Obligations of Centennial and FAC ............................... 23
13. Conditions to Obligations of Xxxxx.Xxx and the Shareholders ................... 25
14. Provisions for Indemnification................................................. 25
15. Opinion of Counsel for Xxxxx.Xxx............................................... 27
16. Opinion of Counsel for Centennial and FAC...................................... 27
17. Disclosure of Information...................................................... 27
18. Employment Agreements.......................................................... 29
19. Survival of Representations and Warranties..................................... 29
20. Further Assurances............................................................. 29
21. Notices........................................................................ 30
22. Broker......................................................................... 31
23. Expenses....................................................................... 31
24. Entire Agreement............................................................... 31
25. Binding Effect................................................................. 31
26. Headings....................................................................... 32
27. Law Governing.................................................................. 32
28. Counterparts................................................................... 32
TABLE OF SCHEDULES
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No. Title
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5 Escrow Agreement
5(a) Warranting Shareholders
6(a) Xxxxx.Xxx Qualifications
6(b) Xxxxx.Xxx Third Party Consents
6(c)(i) Federal Income Tax Returns
6(c)(ii) Financial Statements
6(e) Miscellaneous Disclosures
6(f) Security Interests, Liens, Encumbrances,
etc.
6(g) Existing Leases, Contracts, Franchises
and Commitments, and Agreements as to the Same
6(h) Miscellaneous Lists
6(i) Litigation, Claims, Proceedings, etc.
6(m) Stock Transactions
6(n) Agreements and Arrangements with
Affiliates
6(q) Equipment; Real Estate
6(r) Permits, Licenses, Authorizations
6(s) Insurance Policies
6(t) Shareholder Interests in Competitors
6(u) Intellectual Property
6(z) Environmental Matters
12(g) Rate of Exchange of Xxxxx.Xxx Shares for Centennial Shares
15 Form of Opinion of Xxxxxxxx Xxxxxxxxx
16 Form of Opinion of X'Xxxxxx, Broude & Xxxxxxx
18 Form of Employment Agreements
22 Brokers
AGREEMENT AND PLAN OF MERGER
AGREEMENT AND PLAN OF MERGER, effective as of the 18th day of
Decemeber, 1996 (the "Agreement"), by and among Centennial Technologies, Inc., a
Delaware corporation ("Centennial"); Xxxxx.Xxx Acquisition Corporation, a
Delaware corporation and wholly-owned subsidiary of Centennial ("FAC");
Xxxxx.Xxx, Inc., a Florida corporation ("Xxxxx.Xxx"); and the shareholders of
Xxxxx.Xxx whose signatures appear at the foot of this Agreement (the
"Shareholders"). Xxxxx.Xxx and FAC are sometimes referred to together herein as
the "Constituent Corporations."
WITNESSETH:
WHEREAS, Centennial owns directly one hundred percent (100%) of the
issued and outstanding stock of FAC; and
WHEREAS, the Board of Directors of Centennial and the Board of
Directors of Xxxxx.Xxx have each approved the merger of FAC with and into
Xxxxx.Xxx, with Xxxxx.Xxx being the surviving corporation, upon the terms and
conditions set forth herein.
WHEREAS, Xxxxx.Xxx, Centennial and FAC desire to enter into and carry
out the merger in accordance with the terms hereof and the provisions of the
Florida Business Corporation Act and the Delaware General Corporation Law.
NOW, THEREFORE, intending to be legally bound hereby, and in
consideration of the mutual covenants herein contained and other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:
1. THE MERGER
(a) Subject to the terms, provisions and conditions of this Agreement
and upon the basis of the representations, warranties and covenants made herein,
at the Closing (as defined below) Xxxxx.Xxx and FAC shall cause Articles of
Merger to be filed with the Secretary of State of Florida and a Certificate of
Merger to be filed with the Secretary of State of Delaware, each in a form
agreed to by Xxxxx.Xxx and Centennial.
(b) The effective date of the merger of FAC with and into Xxxxx.Xxx
(the "Merger") shall be the date (the "Effective Date") upon and the time (the
"Effective Time") at which the Articles of Merger are filed in the Department of
State of Florida and the
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Certificate of Merger is filed with the Secretary of State of Delaware,
whichever occurs later. At the Effective Time, FAC will be merged in and into
Xxxxx.Xxx, with Xxxxx.Xxx as the surviving corporation (the "Surviving
Corporation"), and the separate existence of FAC shall cease. The Surviving
Corporation shall assume and be liable for all the liabilities and obligations
of each of the Constituent Corporations in accordance with the Florida Business
Corporation Act and the Delaware General Corporation Law.
(c) At the Effective Time and without any further action on the part of
the Constituent Corporations, the Articles of Incorporation and the Bylaws of
the Surviving Corporation shall be amended to read in their entirety as the
Certificate of Incorporation and Bylaws of FAC, and all the property, real and
mixed, of each of the Constituent Corporations shall vest in the Surviving
Corporation without further act or deed.
2. CONVERSION OF SHARES
(a) At the Effective Time on the Effective Date, the outstanding shares
of capital stock of Xxxxx.Xxx shall be canceled or converted, as the case may
be, by virtue of the Merger and without any further action on the part of any
holder thereof as follows: (i) each share of Common Stock, $.01 par value per
share, of Xxxxx.Xxx (the "Xxxxx.Xxx Common Stock") shall be converted into
0.0614584 shares of Common Stock, $.01 par value per share, of Centennial
("Centennial Shares"); and (ii) each share of Xxxxx.Xxx Common Stock issued and
held in the treasury of Xxxxx.Xxx shall be canceled and retired; and
(b) At the Effective Time, each share of Common Stock, $.01 par value
per share, of FAC issued and outstanding immediately prior thereto shall be
converted into one (1) share of Common Stock, fully paid and nonassessable, of
the Surviving Corporation, which shall be owned by Centennial.
(c) No fractional Centennial Shares shall be issued in connection with
the Merger. The number of Centennial Shares to be received by holders of
Xxxxx.Xxx Common Stock shall be rounded up to the next whole number of
Centennial Shares if the fractional number of Centennial Shares to be received
ends in a fraction that equals five tenths (0.5) of a share or greater, and
shall be rounded down to the next whole number of Centennial Shares if the
fractional number of Centennial Shares to be received ends in a fraction that
equals less than five tenths (0.5) of a share.
(d) As soon as reasonably practicable after the Effective Time, the
Surviving Corporation shall mail, or cause to be mailed, to each holder of
record of Xxxxx.Xxx Common
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Stock (i) notice that the Merger has been consummated and instructions for
effecting the surrender of their certificates that immediately prior to the
Effective Time represented outstanding shares of Xxxxx.Xxx Common Stock
("Xxxxx.Xxx Certificates") in exchange for certificates representing shares of
Centennial Shares and (ii) a letter of transmittal (which shall specify that
delivery shall be effected, and risk of loss and title to the Xxxxx.Xxx
Certificates shall pass, only upon delivery of the Xxxxx.Xxx Certificates to the
Surviving Corporation and shall be in such form and have such other provisions
as the Surviving Corporation may reasonably specify). Upon the surrender of an
Xxxxx.Xxx Certificate for cancellation to the Surviving Corporation, together
with a properly completed and duly executed letter of transmittal and such other
documents as may be reasonably requested, the holder of such Xxxxx.Xxx
Certificate shall be entitled to receive, and the Surviving Corporation shall
promptly deliver, in exchange therefor a certificate representing that number of
whole Centennial Shares which such holder has the right to receive in respect of
the Xxxxx.Xxx Certificate surrendered pursuant to the provisions of this Section
2 (after taking into account all shares of Xxxxx.Xxx Common Stock then held by
such holder), and the Xxxxx.Xxx Certificate so surrendered shall forthwith be
canceled. In the event of a transfer of ownership of Xxxxx.Xxx Common Stock
which is not registered in the transfer records of Xxxxx.Xxx, a certificate
representing the proper number of shares of Centennial Shares may be issued to a
transferee if the Xxxxx.Xxx Certificate representing such Xxxxx.Xxx Common Stock
is presented to the Surviving Corporation, accompanied by all documents required
to evidence and effect such transfer and by evidence that any applicable stock
transfer taxes have been paid.
(e) The parties intend to adopt this Agreement as a tax-free plan of
reorganization and to consummate the Merger as a merger in accordance with the
provisions of Section 368(a) of the Internal Revenue Code of 1986, as amended
(the "Code"). Centennial Shares issued in the Merger shall be issued solely in
exchange for the Xxxxx.Xxx Common Stock. No consideration that could constitute
"other property" within the meaning of Section 356(b) of the Code is being paid
by Centennial for the Xxxxx.Xxx Common Stock in the Merger. The parties shall
not take a position on any tax returns inconsistent with this subparagraph (e).
Neither Xxxxx.Xxx nor Centennial shall intentionally take or cause to be taken
action which would disqualify the Merger as a reorganization within the meaning
of Section 368(a) of the Code.
(f) Xxxxx.Xxx agrees that if, at any time after the Effective Time,
Centennial considers or is advised that any further deeds, assignments or
assurances are reasonably necessary or desirable to be obtained from Xxxxx.Xxx
or its officers or directors, to consummate the Merger or to carry out the
purposes of this Agreement at or after the
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Effective Time, then the parties and their respective officers and directors
shall execute and deliver all such proper deeds, assignments and assurances and
do all other things necessary or desirable to consummate the Merger and to carry
out the purposes of this Agreement, in the name of Xxxxx.Xxx or otherwise.
3. MATTERS RELATED TO THE CENTENNIAL SHARES
(a) (i) The Shareholders understand that the Centennial Shares they
will receive under this Agreement are characterized as "restricted securities"
under the federal securities laws inasmuch as they are being acquired in a
transaction not involving a public offering and that under such laws and
applicable regulations such securities may be resold without registration under
the Securities Act of 1933, as amended (the "Act") only in certain limited
circumstances. In this regard, the Shareholders represent that they are familiar
with Rule 144 promulgated under the Act, as such Rule is presently in effect,
and the resale limitations imposed thereby and by the Act.
(ii) It is understood that the certificates evidencing the
Centennial Shares to be transferred to the Shareholders under this Agreement may
bear one or all of the following legends or their substantial equivalent:
(A) "THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "ACT"). THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR
HYPOTHECATED UNLESS A REGISTRATION STATEMENT IS IN EFFECT WITH RESPECT TO SUCH
SECURITIES UNDER THE ACT OR THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL THAT
SUCH REGISTRATION IS NOT REQUIRED."
(B) Any legend required by state securities laws.
(b) (i) Centennial will prepare and file with the Securities and
Exchange Commission (the "Commission"), within ninety (90) days of the Closing
Date, a Registration Statement on Form S-3 (or such other Form as counsel to
Centennial shall deem appropriate) covering the Centennial Shares and such other
documents, including a prospectus, as may be necessary in the opinion of counsel
for Centennial in order to comply with the provisions of the Securities Act of
1933, as amended (the "Act"), and to maintain the effectiveness of such
registration statement for a period of not less than eighteen (18) months. The
expenses of such registration shall be borne by Centennial, with the exception
of underwriting or
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selling discounts and commissions and any fees and disbursements of counsel to
the Shareholders.
(ii) Centennial will take all commercially reasonable action
which may be required in qualifying the Centennial Shares for offering and sale
under the securities or blue sky laws of such states as reasonably are requested
by the Shareholders, provided that Centennial shall not be obligated to register
the shares in any state or execute or file any general consent to service of
process or to qualify as a foreign corporation to do business under the laws of
any such jurisdiction.
(iii) Centennial's obligation under this Agreement shall be
conditioned upon a timely receipt by the Centennial in writing of information as
Centennial may reasonably require from each of the Shareholders, or any
underwriter for any of them, in connection with the preparation of a
registration statement filed pursuant to this Agreement, including any
post-effective amendment to such registration statement, and the sale of the
Centennial Shares by the Shareholders.
(iv) Centennial shall furnish each Shareholder desiring to
sell Centennial Shares such number of prospectuses as shall reasonably be
requested.
4. CLOSING
The Closing shall take place at the offices of X'Xxxxxx, Xxxxxx &
Xxxxxxx, in Waltham, Massachusetts, on the last to occur of (a) the date on
which the shareholders of Xxxxx.Xxx approve the Merger and (b) the date on which
all other conditions to the obligations of each party hereunder to effect the
Merger are satisfied or waived, but in no case not later than thirty (30) days
after the date hereof (the "Termination Date"). The date of the Closing is
hereafter referred to as the "Closing Date". All proceedings to be taken and all
documents to be executed and delivered by all parties at the Closing shall be
deemed to have been taken and executed simultaneously, and no proceedings shall
be deemed to have been taken nor any documents executed or delivered until all
have been taken, executed and delivered, including the execution and delivery of
the Agreements and Plans of Merger by and among (1) Centennial, ITP Acquisition
Corporation, Intelligent Truck Project, Inc. ("ITP") and the shareholders of ITP
(the "ITP Agreement") and (2) Centennial, STP Acquisition Corporation, Smart
Traveler Plazas, Inc. ("STP") and the shareholders of STP (the "STP Agreement").
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5. ESCROW AGREEMENT
(a) Centennial shall retain ten percent (10%) of the Centennial Shares
to be paid to each of the Shareholders set forth on Schedule 5(a) hereto (the
"Warranting Shareholders") (the "Escrow Amount"), into escrow with X'Xxxxxx,
Broude & Xxxxxxx (the "Escrow Agent") pursuant to the terms of the escrow
agreement in substantially the form annexed hereto as Schedule 5 (the "Escrow
Agreement"). The Escrow Amount shall be available to meet any indemnification
claims made by Centennial or the Surviving Corporation pursuant to Section 14
hereof during the one (1) year period following the Closing Date, all in
accordance with the provisions of the Escrow Agreement.
(b) On the first anniversary of the Closing Date, the Escrow Agent
shall, pursuant to the provisions of the Escrow Agreement, release to the
Warranting Shareholders any portion of the Escrow Amount remaining in the escrow
account.
(c) All of the Escrow Agent's fees shall be paid by Centennial.
6. REPRESENTATIONS AND WARRANTIES OF Xxxxx.Xxx AND THE
WARRANTING SHAREHOLDERS
Xxxxx.Xxx and the Warranting Shareholders represent and warrant to
Centennial and FAC, upon which representations and warranties Centennial and FAC
rely, and which representations and warranties shall survive the Closing, as
provided in Section 19 of this Agreement, notwithstanding any investigation of
the affairs of Xxxxx.Xxx by Centennial or FAC, as follows:
(a) Xxxxx.Xxx is a corporation duly organized, validly existing and in
good standing under the laws of the State of Florida, and has full power and
authority to own its properties and carry on its business as it is now being
conducted and as presently proposed to be conducted. Except as set forth on
Schedule 6(a), Xxxxx.Xxx is not qualified, licensed or registered to do business
in any other state, nor by the location and nature of its business and
activities and the character of the properties owned by it, is it required to be
so qualified, licensed or registered. Its Certificate of Incorporation and all
amendments thereto to date, its Bylaws as amended to date, and its Minutes and
Stock Book, all of which have been delivered to Centennial for review prior to
execution of this Agreement, are full, complete and correct. The said Minutes
accurately and fully reflect all meetings, actions, proceedings and other
matters properly includable therein. Except as reflected in said Minutes, there
are
6
no minutes of meetings or consents in lieu of meetings of the Board of Directors
or Shareholders of Xxxxx.Xxx.
(b) Xxxxx.Xxx has full power and authority (corporate and other) to
execute and deliver this Agreement and consummate the transactions contemplated
hereby. The execution and delivery of this Agreement and the consummation of the
transactions contem plated hereby have been duly and validly authorized by the
Board of Directors of Xxxxx.Xxx, and no other corporate action or proceedings on
the part of Xxxxx.Xxx are necessary to consummate the transactions so
contemplated. This Agreement has been duly and validly executed and delivered by
Xxxxx.Xxx and constitutes its valid and legally binding obligation, enforceable
against Xxxxx.Xxx in accordance with its terms, subject only as to enforcement
to general equitable principles and to bankruptcy, insolvency, reorganization,
moratorium, or similar laws of general application affecting the rights and
remedies of creditors. Except as set forth on Schedule 6(b), the execution and
delivery of this Agreement by Xxxxx.Xxx, the consummation by Xxxxx.Xxx of the
transactions contemplated hereby, and compliance by Xxxxx.Xxx with the terms and
provisions hereof will not violate any provision of the Certi ficate of
Incorporation or Bylaws of Xxxxx.Xxx in existence as of the Closing Date, will
not conflict with or result in a breach, default, or violation of any term of
any indebtedness, mortgage, indenture, contract, agreement, lease, license,
permit, judgment, decree, order, or injunction by which Xxxxx.Xxx or any of its
properties are or may be bound, or of any applicable statute, ordinance or
regulation, and will not result in the creation or imposition of any lien upon
any of the properties of Xxxxx.Xxx or upon the Xxxxx.Xxx Shares. Except for such
consents as are obtained prior to the Effective Time, no material consent,
approval, order, or authorization of, or registration, declaration, or filing
with, any governmental authority or third party is required in connection with
the execution and delivery of this Agreement by Xxxxx.Xxx or the consummation by
Xxxxx.Xxx of the transactions contemplated hereby.
(c) Xxxxx.Xxx has delivered to FAC (i) copies of Xxxxx.Xxx's federal
income tax returns as more fully identified on Schedule 6(c)(i) attached hereto
and made part hereof, for the periods set forth therein; and (ii) certain
unaudited financial statements more fully identified on Schedule 6(c)(ii) (the
"Trial Balance").
(d) As of November 27, 1996, Xxxxx.Xxx had no liabilities, commitments
or obligations of any kind whatsoever (whether accrued, absolute, contingent or
otherwise, and whether due or to become due) which were not reflected or
reserved against in its Trial Balance or in the Notes thereto of said date, or
which are not fully covered by policies of insurance validly in force, or
disclosed herein or in an exhibit hereto;
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(e) Since November 27, 1996, except as described in Schedule 6(e)
attached hereto and made a part hereof, there has not been (and as of the
Closing Date, there will not have been) (i) any change in Xxxxx.Xxx's business,
properties, assets, financial condition, prospects, management or operations,
other than changes in the ordinary course of business, none of which has been
materially adverse; (ii) any damage, destruction or loss, whether or not covered
by insurance, materially and adversely affecting Xxxxx.Xxx's properties,
business, assets or financial position; (iii) any declaration or setting aside
of any dividend, or any direct or indirect redemption, purchase, or other
acquisition of any of Xxxxx.Xxx's shares of capital stock; (iv) any increase in
the compensation payable or to become payable by Xxxxx.Xxx to any of its
officers, employees, or agents, or any bonus payment or arrangement made to or
with any of them; (v) any unresolved labor controversy; (vi) any increase in any
employee pension or retirement plans or other employee benefit plans; (vii) any
waiver of any rights of material value to Xxxxx.Xxx or cancellation or
compromise of any debt; (viii) any transfer or grant of any rights in
Xxxxx.Xxx's patents, trademarks, trade names or copyrights; (ix) any material
modification, change or termination of any existing license, lease, contract or
other document referred to in this Agreement or any of the Schedules hereto, or
failure to renew or extend any material contract, except in the ordinary course
of business or as contemplated by this Agreement; (x) any individual capital
expenditure in excess of $10,000, or aggregate capital expenditures in excess of
$50,000, or any commitment therefor; (xi) any change in any amounts due or to
become due from Xxxxx.Xxx to any Shareholder or any affiliate thereof; or (xii)
any occurrence or circumstance which may be expected to result in a material
adverse change in or affecting the business or financial affairs of Xxxxx.Xxx.
(f) Xxxxx.Xxx has good and marketable title to all of its properties
and assets, real, personal and mixed, including those reflected in its Trial
Balance of November 27, 1996, free and clear of any security interests,
mortgages, pledges, liens, encumbrances, restrictions, or charges, except for
(i) those described on Schedule 6(f) attached hereto and made part hereof, (ii)
liens shown on such Trial Balance as securing specified liabilities set forth
therein, with respect to which no material default exists (except for defaults
cured prior to the declaration of default thereon), and except for minor
imperfections of title and encumbrances, if any, which are not substantial in
character, amount, or extent, do not detract from the value of the properties
subject thereto, or interfere with the use of the properties for the purposes
for which they are presently used, or otherwise impair Xxxxx.Xxx's operations,
and have arisen only in the ordinary course of business.
(g) Other than as set forth on Schedule 6(g) attached hereto and made
part hereof, Xxxxx.Xxx presently has no existing leases, contracts, franchises
or commitments, or agreements to enter into any of the same, written or oral,
extending beyond the date of
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Closing. Copies of all written contracts or commitments, and a memorandum
describing each oral contract or commitment listed on Schedule 6(g) or any other
Schedule hereto, together with a copy or description as aforesaid, of each
contract which requires the payment by Xxxxx.Xxx of a sum in excess of $10,000
in the aggregate, have been delivered to Centennial, and are true, complete and
correct in all respects. Xxxxx.Xxx has complied in all material respects with
all of the provisions of each such contract or commitment, and of all other
contracts and commitments to which it is a party, and is not in default under
any of them, except as described on Schedule 6(g). Each such contract or
commitment will be available for the use and benefit of the Surviving
Corporation following the Closing Date, with no material adverse effect
resulting from the transactions contemplated by this Agreement.
(h) There is attached to this Agreement, made part hereof and marked
Schedule 6(h), true and complete lists, as of the date of this Agreement,
setting forth:
(i) The names and residence addresses of all directors
and officers of Xxxxx.Xxx;
(ii) The names of all persons, if any, holding powers of
attorney from Xxxxx.Xxx, and a summary statement of the terms thereof;
(iii) A list setting forth the name and address of each bank
or other institution in which Xxxxx.Xxx has established an account for
investment, deposit, checking, savings or borrowing, or through which credit is
extended, a brief description thereof, and the names and titles of authorized
signers and limits, if any;
(iv) A list of all employees of Xxxxx.Xxx together with
their Social Security numbers; and
(v) A list of all employee benefits granted by Xxxxx.Xxx and
the names of those employees who have received such benefits.
At the request of Centennial, Xxxxx.Xxx shall furnish to Centennial
further information relating to the matters set forth in the above described
lists, and copies of any items included therein, as well as any and all other
matters relating to the operations of Xxxxx.Xxx.
(i) Except for those matters disclosed on Schedule 6(i) attached hereto
and made a part hereof, there is no action, suit, litigation, claim, order,
injunction, levy, attachment,
9
administrative or governmental or quasi-governmental investigation or proceeding
pending or, to the knowledge of Xxxxx.Xxx, threatened against or relating to
Xxxxx.Xxx, its business, properties or prospects or relating to this Agreement
or the transactions contemplated hereby. Xxxxx.Xxx is not a party to, or the
subject of, any action, suit, litigation, claim, administrative proceeding or
governmental or quasi-governmental investigation relating to Xxxxx.Xxx, its
operations, properties or business, or material to the transactions contemplated
hereunder; nor, to the knowledge of Xxxxx.Xxx, is any such action, suit,
litigation, proceeding or investi gation threatened or contemplated.
(j) None of the representations and warranties made by Xxxxx.Xxx or the
Warranting Shareholders contained in this Agreement, including all Schedules,
nor in any statement, document, certificate or memorandum furnished or to be
furnished by the Xxxxx.Xxx pursuant hereto, or in connection with the
transactions contemplated hereby, contains or will contain any untrue statement
of material fact; and none of such representa tions, warranties, statements,
documents, certificates or memoranda omits or will omit to state a material fact
necessary in order to make the statements contained herein or therein not
misleading.
(k) (i) Xxxxx.Xxx has or will have duly filed all federal, state,
local, foreign and other tax returns, reports and declarations of estimated tax
required to be filed by it for all periods up to and including the Closing Date
(all such returns, reports and declarations being accurate and complete in all
respects) and has paid or established adequate reserves for the payments of all
federal, state, local or foreign taxes, assessments, deficiencies, levies,
imports, duties, license fees, registration fees, withholdings, or other similar
governmental charges, and any interest, penalties or additions to tax imposed
thereon (collectively the "Taxes") due or claimed to be due by any taxing
authority. The amounts set up as reserves for Taxes on the Trial Balance of
Xxxxx.Xxx as of November 27, 1996 are sufficient for the payment of all unpaid
Taxes for the period ended November 27, 1996, and for any year or period prior
thereto, and for which Xxxxx.Xxx may be liable in its own right or as a
transferee of the assets of or successor to any corporation, person,
association, partnership, joint venture or other entity. Xxxxx.Xxx will pay, or
will establish adequate reserves for the payment for all Taxes payable for the
period from November 27, 1996, up to and including the Closing Date.
(ii) Xxxxx.Xxx will not have any liability for Taxes in excess
of the amount paid or reserved for any periods prior to the Closing Date. All
amounts required to be withheld or collected by Xxxxx.Xxx for income taxes,
social security taxes, unemployment insurance and other employee withholding
taxes have been so withheld or collected, and
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either paid to the respective governmental authority or set aside for such
purpose or accrued and reserved against and entered upon the books of Xxxxx.Xxx.
(iii) The federal income tax returns of Xxxxx.Xxx have not
been audited by the Internal Revenue Service or any other taxing authority.
There is no action, suit, proceeding, audit, investigation or claim pending or,
to the knowledge of Xxxxx.Xxx threatened, in respect of any Taxes for which
Xxxxx.Xxx may become liable, nor has any deficiency or claim for any Taxes been
proposed or asserted. No waiver of any statute of limitations with respect to
any taxable year has been executed by Xxxxx.Xxx; there is no agreement, waiver
or consent providing for an extension of time with respect to the assessment of
any Taxes against Xxxxx.Xxx, and no power of attorney granted by Xxxxx.Xxx with
respect to any tax matters is currently in force.
(l) Xxxxx.Xxx has paid (and, as to any of the following which are
payable after the date of Closing and determinable as of November 27, 1996,
Xxxxx.Xxx has properly reserved against in accordance with generally accepted
accounting principles) all sales and use taxes, social security taxes,
unemployment taxes, ad valorem taxes, property taxes, excise taxes, duties and
imposts, and all other taxes of every kind, character or description imposed by
any governmental or quasi-governmental authority required to be paid by
Xxxxx.Xxx for all periods prior to the Closing Date. There are no outstanding
notices of any deficiencies, adjustments, changes in assessments or increases in
tax rates with respect to any such taxes. Xxxxx.Xxx has duly filed or caused to
be filed all reports and returns relating to or covering all such taxes and
other charges, which are due or required to be filed at or prior to the date
hereof.
(m) Xxxxx.Xxx has a total of 2,678,101 shares of Common Stock issued
and out standing of a total of 5,000,000 shares of Common Stock authorized. All
issued and outstanding shares of Common Stock have been duly authorized and
validly issued and are fully paid and nonassessable, with no personal liability
attaching to the ownership thereof, and no shares of Common Stock were issued in
violation of any preemptive rights. There are no other shares of capital stock
of Xxxxx.Xxx of any class authorized, issued or outstanding. Except as set forth
on Schedule 6(m), there are no outstanding stock options, warrants, calls,
agreements, or statutory or nonstatutory preemptive rights, or any other rights
whatsoever, to purchase or otherwise obtain or demand the issuance of any
Xxxxx.Xxx Shares of Common Stock, in favor of or held by any persons or entities
whatsoever. Xxxxx.Xxx has no treasury stock. Except as set forth on Schedule
6(m), since January 1, 1994, there have been no issuances, transfers,
repurchases or other transactions involving the Common Stock or any other
securities of Xxxxx.Xxx. Schedule 6(m) also sets forth a complete list of the
11
shareholders of Xxxxx.Xxx. Except as set forth on Schedule 6(m), neither
Xxxxx.Xxx nor any predecessor has ever maintained or participated in any stock
option or stock bonus plan.
(n) Except as set forth on Schedule 6(n), Xxxxx.Xxx is not, and on the
Closing Date will not be, indebted to the Shareholders or to any officer,
director or shareholder of Xxxxx.Xxx, or to any of their respective spouses
and/or children, in any amount whatsoever. Xxxxx.Xxx is not primarily or
secondarily liable in respect of any obligation of another person or party.
Xxxxx.Xxx is not a party to any agreement or arrangement whereby it engages in a
transaction of any kind with any affiliate except on terms and conditions no
less favorable to Xxxxx.Xxx than would be customary for such transactions
between unaffiliated parties or upon terms and conditions on which similar
transactions with others could fairly be expected to be entered into. All
agreements and arrangements with any affiliate are fairly and accurately
described in Schedule 6(n). For purposes of this Section 6(n), "affiliate" shall
mean any officer, director or shareholder of Xxxxx.Xxx or any person or entity
controlled by such officers, directors or shareholders.
(o) Xxxxx.Xxx has no subsidiaries, nor any investments in, nor
ownership of securities of, any business, enterprise, entity or organization,
public or private, except certificates of deposit, commercial paper and similar
money equivalents, all as described on its Trial Balance of November 27, 1996.
(p) Neither Xxxxx.Xxx nor any predecessor has ever maintained,
participated in or been obligated to contribute to, or has ever had any
liability with respect to, any Employee Pension Benefit Plan ("Plans") as such
term is defined in Section 3 of the Employment Retirement Income Security Act of
1974, as amended ("ERISA"), any Employee Welfare Benefit Plan as such term is
defined in Section 3 of ERISA, any deferred compensation plan or any other
similar employee benefit plan. Neither Xxxxx.Xxx nor any predecessor has ever
participated in, or been obligated to contribute to, any Multi Employer Plan as
such term is defined in Section 3(37) of ERISA as amended by the Multi Employer
Pension Plan Amendments Act of 1980. Xxxxx.Xxx is not, nor has it ever been, a
member of a "controlled group of corporations" or an "affiliated service group",
or a member under "common control" of any member, as defined in Sections 414(b),
(c) and (m) of the Internal Revenue Code (the "Code").
(q) Xxxxx.Xxx has good title to, or valid leases or licenses for,
insurable at regular rates, all of its property and assets that are necessary
for the conduct of its business; and its equipment and real estate (whether
owned or leased) is in good order, condition and repair, and is in material
conformity (with respect to the leased property, to Xxxxx.Xxx's knowledge
12
only) with all applicable federal, state and local laws, regulations and
ordinances (including but not limited to environmental zoning), except as set
forth in Schedule 6(q). A list of all such equipment and real estate is
contained on Schedule 6(q) attached hereto and made a part hereof. Xxxxx.Xxx has
complete and accurate written or computer copies of the source code for all
software which is under development by or licensed to or by Xxxxx.Xxx.
(r) Xxxxx.Xxx has all material permits, licenses and governmental
authorizations required for the ownership of its business as it is currently
being operated, all of which will be available for the use and benefit of the
Surviving Corporation unaffected by the transac tions contemplated by this
Agreement. All of Xxxxx.Xxx's said permits, licenses and governmental
authorizations relating to the operations of Xxxxx.Xxx are currently in force,
and are listed on Schedule 6(r) attached hereto and made a part hereof.
(s) Schedule 6(s) attached hereto and made a part hereof contains a
complete and correct list of all policies of insurance of every kind and nature
covering Xxxxx.Xxx, including without limitation, policies of life, fire, theft,
employee fidelity and other casualty and liability insurance, indicating the
insurer, the policy number, the type of coverage, the amount of coverage and the
expiration date of each policy. Such policies are and will be at Closing in full
force and effect, and will be unaffected by the transactions contemplated by
this Agreement. Complete and correct copies of each such policy have been made
available to Centennial prior to the execution of this Agreement.
(t) Except as set forth on Schedule 6(t), to Xxxxx.Xxx's knowledge, no
officer, director or shareholder of Xxxxx.Xxx has a direct or indirect interest
of any kind in any business entity which is competitive with or related to the
business of Xxxxx.Xxx. The provisions of this Section 6(t) shall not be
construed to prevent or preclude investments representing less than one percent
(1%) of the ownership, directly or indirectly, by an individual in a company or
companies whose stock is listed on a national securities exchange or actively
traded on the over-the-counter market.
(u) Schedule 6(u) hereto correctly sets forth a true and complete list
of all patents, trademarks, trade names, service marks, copyrights, licenses and
similar rights, and any applications in respect thereof, and inventions,
processes, trade secrets and formulae used by or useful to Xxxxx.Xxx in whole or
in part for the conduct of the business (collectively, the "Intellectual
Property"), all of which are owned by Xxxxx.Xxx free and clear of any and all
licenses, liens, claims, security interests, charges or encumbrances whatsoever,
except as set forth in said Schedule 6(u), and no licenses which are in effect
as of the date of this Agree ment have been granted by Xxxxx.Xxx to any third
parties. Xxxxx.Xxx agrees to execute any and
13
all documents, if any, necessary and sufficient to transfer all its right, title
and interest in and to any Intellectual Property to Centennial. All such
patents, trademarks, trade names, copyrights and similar rights are valid and in
good standing and do not infringe upon the rights of third parties. The
operation of the business of Xxxxx.Xxx does not infringe upon any registered
patent, trademark, trade name, copyright, license or other right, invention,
process, formula or trade secret, of any person. The present conduct of
Xxxxx.Xxx's business is not materially dependent upon any one or more patents,
trademarks, trade names, service marks, copyrights or licenses.
(v) Neither Xxxxx.Xxx, nor any director, officer, or shareholder of
Xxxxx.Xxx, in connection with the activities of Xxxxx.Xxx, has at any time,
either directly or indirectly, made illegal gifts, gratuities, or payments in
any form, whether in cash, goods or services, to any persons or entities
whatsoever, in payment for, or intended to encourage, or which resulted in or
may have resulted in or had the effect of, obtaining or encouraging persons or
entities to become, or to continue to be, customers of Xxxxx.Xxx, or obtaining,
encouraging or extending any contractual relationship, written or oral, for any
of the same; nor, to Xxxxx.Xxx's knowledge, have any of the foregoing or any
employee of Xxxxx.Xxx while acting in their capacity as an employee, (i) entered
into any arrangement, written or oral, under or pursuant to which bribes,
kickbacks, rebates, payoffs or other forms of illegal or improper payments have
been or will be made, provided for or suffered, either directly or indirectly
through agents, brokers, distributors, dealers or other intermediaries; (ii)
made any illegal contribution of monies, services, or property to any political
party, candidate or elected official for any purpose; (iii) made any
contributions, payments or gifts to or for the private use of any governmental
official, employee or agent where either the payment or the purpose of such
contribution, payment or gift is illegal under the laws of the jurisdiction in
which made; (iv) established or maintained any unrecorded fund or asset for any
purpose or made any false or artificial entries on its books; or (v) made any
payments to any person with the intention or understanding that any part of such
payment was to be used for any purpose other than that described in the
documents supporting the payment.
(w) Xxxxx.Xxx is not:
(i) in material default in the performance, observance or
fulfillment of any obligation, covenant or condition contained in any evidence
of indebtedness or any agreement or instrument under or pursuant to which any
evidence of indebtedness has been issued, or any other agreement or instrument
to which it is a party or by which it or any of its properties are bound (each
such evidence of indebtedness, agreement or instrument being hereinafter
sometimes called a "Contractual Obligation"), and no event has occurred which
14
constitutes, or but for any requirement of giving of notice or passage of time
or both would constitute, an event of default by Xxxxx.Xxx under any Contractual
Obligation; or
(ii) in breach or violation of, or in material default under,
any of the terms, conditions or provisions of any law, or of any rule,
regulation, order, writ, injunction or decree of any court or government,
domestic or foreign, or any commission, bureau or administrative agency thereof,
or is in breach or violation of or default under any of the provisions of the
charter or Bylaws of Xxxxx.Xxx (each such term, condition and provision being
hereinafter sometimes called a "Requirement of Law"), except for such defaults,
breaches or violations of Contractual Obligations or Requirements of Law as do
not and will not have, individually or in the aggregate, any material adverse
effect on the business, operations, properties, prospects or condition,
financial and other, or results of operation of Xxxxx.Xxx.
(x) None of the borrowings of Xxxxx.Xxx were incurred or used for the
purpose of purchasing or carrying any security which at the date of its
acquisition was, or any security which now is, margin stock or other margin
security within the meaning of Regulations G, T or X of the Board of Governors
of the Federal Reserve System, 12 C.F.R., parts 207, 220 and 224, as now in
effect ("Margin Rules"), or a "security that is publicly held," within the
meaning of such Regulation T, and Xxxxx.Xxx does not own any margin stock or
other margin security, or a "security that is publicly held" or have any present
intention of acquiring any margin stock or other margin security, or any
"security that is publicly held".
(y) Neither this Agreement nor any transaction contemplated hereby, is
or will be in violation of any export limitations established by the United
States Congress or the Executive Branch of the United States government.
(z) Except as set forth in Schedule 6(z) annexed hereto:
(i) To Xxxxx.Xxx's knowledge, there are not present in, on or
under the real estate which Xxxxx.Xxx owns, leases or at which it conducts any
of its operations (the "Real Estate") any Hazardous Substances (as hereinafter
defined) in such form or quantities as to create any liability or obligation for
either Xxxxx.Xxx, FAC or Centennial under any Environmental Laws (as hereinafter
defined). "Environmental Laws" means all federal, state, local, foreign or other
statutes, laws, regulations, ordinances, rules, orders, consent decrees, consent
judgments, judicial or administrative decisions, agreements or directives,
whether now existing or as hereafter promulgated, issued or enacted relating to:
(A) pollution or protection of the environment, including natural resources; (B)
exposure of any individual,
15
including employees of Xxxxx.Xxx to any Hazardous Substance or other products,
materials or chemicals; (C) protection of human health or welfare from the
effects of products, by-products, wastes, emissions, discharges or releases of
chemical or other substances from industrial or commercial activities; (D)
regulation of the manufacture, use or introduction into commerce of substances,
including without limitation, use of or rights with respect to their
manufacture, formulation, packaging, labeling, distribution, transportation,
handling, storage and disposal; and (E) regulation generally of the use of the
environment, including, without limitation, ambient air, surface water, ground
water, and surface or subsurface strata, in each case, as amended and as now or
hereafter in effect. For purposes of this definition, the term "Environmental
Laws" shall include, without limitation, the following statutes: (1) the Clean
Air Act, as amended, 42 U.S.C. xx.xx. 7401 et seq.; (2) the Federal Water
Pollution Control Act, as amended, 33 U.S.C. xx.xx. 1251 et seq,; (3) the
Resource Conservation and Recovery Act of 1976, as amended, 42 U.S.C. xx.xx.
6901 et seq. ("RCRA"); (4) the Comprehensive Environmental Response,
Compensation and Liability Act of 1980, as amended, 42 U.S.C. xx.xx. 9601 et
seq., as amended by the Superfund Amendments and Reauthorization Act of 1986
("CERCLA"); (5) the Toxic Substances Control Act, as amended, 15 U.S.C. xx.xx.
2601 et seq.; (6) the Occupational Safety and Health Act, as amended, 29 U.S.C.
ss.651; (7) the Emergency Planning and Community Right-to-Know Act of 1986, 42
U.S.C. xx.xx. 801 et seq.; (8) the Mine Safety and Health Act of 1977, as
amended, 30 U.S.C. xx.xx. 801 et seq.; (9) the Safe Drinking Water Act, 42
U.S.C. xx.xx. 3008 et seq.; and (10) all comparable United States, state, local,
and foreign laws, statutes, rules, regulations, judgments, orders, decrees,
stipulations or charges which have jurisdiction over Xxxxx.Xxx, the
Shareholders, any of their affiliates, or any of the Real Estate or assets owned
or leased by Xxxxx.Xxx. "Hazardous Substance" means: (A) any "hazardous
substance" as defined in CERCLA, 42 U.S.C. ss. 9601(14); (B) any "pollutant or
contaminant" as defined in CERCLA, 42 U.S.C. ss.9601(33); (C) any "hazardous
waste" as defined in RCRA, 42 U.S.C. ss. 6903(5); (D) any asbestos, dioxins,
polychlorinated biphenyls, uranium, radioactive isotopes and other nuclear
by-products, toxic substances or petroleum products, by-products, or
derivatives; (E) any substance, whether liquid, solid or gas that presents a
significant risk or an adverse or harmful effect upon human health, upon animals
or upon air, water, land, natural resources or any other aspects of the
environment; and (F) any other substance classified as hazardous, dangerous or
otherwise regulated under any Environmental Law.
(ii) To Xxxxx.Xxx's knowledge, no Hazardous Substances have
ever been stored, buried, spilled, leaked, discharged, emitted or released in,
on or under the Real Estate in such a way as to create any liability under
applicable common law or under any Environmental Law.
16
(iii) The Real Estate is not being used and, to Xxxxx.Xxx's
knowledge, never has been used in connection with the business of manufacturing,
storing, transporting, handling, disposing or treating Hazardous Substances.
(iv) Xxxxx.Xxx's business has in the past always been
conducted in accordance with all Environmental Laws; and all licenses, permits
and other authorizations required pursuant to any Environmental Law and
necessary for the lawful operation of the Businesses at the Real Estate, all of
which are listed on Schedule 6(z) are in Xxxxx.Xxx's possession and all such
Permits are valid and in full force and effect, no violations thereof have been
experienced, noted or recorded, and no proceeding is pending or threatened to
revoke or limit any of them. No permit required under any Environmental Law is
scheduled to expire prior to December 31, 1997 and, to Xxxxx.Xxx's best
knowledge, there is no threat that any such permit will be withdrawn,
terminated, limited or materially changed.
(v) There are not now, nor, to Xxxxx.Xxx's knowledge, have
there ever been in the past, any underground or aboveground storage tanks or
other containment facilities of any kind on the Real Estate which contain or
ever did contain any Hazardous Substances.
(vi) To Xxxxx.Xxx's knowledge, the Real Estate is not and
never has been listed on the National Priorities List, the Comprehensive
Environmental Response, Compensation and Liability Information System or any
similar federal, state or local list, schedule, log, inventory or database.
(vii) Xxxxx.Xxx has delivered to Centennial accurate copies of
all reports, authorizations, permits, licenses, disclosures and other documents
describing or relating in any way to the Real Estate or any other assets which
describe or mention the status of any of the Real Estate or any of the assets
with respect to any Environmental Law.
(viii) Xxxxx.Xxx has not transported or arranged for the
transportation (directly or indirectly) of any Hazardous Substance to any
location which is listed or proposed for listing under CERCLA or any other
similar Environmental Law, or which is the subject of federal, state, local or
foreign enforcement actions or other investigation which may lead to claims for
clean-up costs, remedial work, damages to natural resources or for personal
injury claims.
(ix) Xxxxx.Xxx has maintained all environmental and operating
documents and records substantially in the manner and for the time periods
required by any Environmental Laws, and there have been no environmental
investigations, administrative
17
orders, consent orders, studies, audits, tests, reviews or other analyses
conducted by or which are in the possession of Xxxxx.Xxx in relation to the Real
Estate, and/or the assets which have not been delivered to Centennial prior to
the date hereof.
(aa) Wherever used in this Agreement with respect to any
representation, warranty, covenant or agreement of the Warranting Shareholders
or Xxxxx.Xxx, the terms "knowledge", "known" or any similar variation thereof
shall be deemed to include:
(i) all matters actually known to such party with respect to
the subject matter of such representation, warranty, covenant or agreement; and
(ii) all matters which should have been known to such party
with respect to the subject matter of such representation, warranty, covenant or
agreement if such party was acting in a manner in which a reasonably prudent
person would act in similar circumstances with respect to the subject matter of
such representation, warranty, covenant or agreement.
7. REPRESENTATIONS AND WARRANTIES OF THE SHAREHOLDERS
The Shareholders represent and warrant to Centennial and FAC, upon
which representations and warranties Centennial and FAC rely, and which
representations and warranties shall survive the Closing as provided in Section
19 of this Agreement, notwithstanding any investigation of the affairs of
Xxxxx.Xxx by Centennial or FAC, as follows:
(a) Each of the Shareholders has full power and authority (corporate
and other) to execute and deliver this Agreement and to consummate the
transactions contemplated hereby. This Agreement has been duly and validly
executed by each of the Shareholders and constitutes the valid and legally
binding obligation of each of them, enforceable against each of them in
accordance with its terms, subject only as to enforceability to general
equitable principles and to bankruptcy, insolvency, reorganization, moratorium,
or similar laws of general application affecting the rights and remedies of
creditors. Except for such consents as are obtained prior to the Effective Time,
no material consent, approval, order or authorization of, or registration,
declaration or filing with, any governmental authority or third party is
required in connection with the execution and delivery of this Agreement by the
Shareholders or the consummation by the Shareholders of the transactions
contemplated hereby.
18
(b) Each Shareholder who executes this Agreement thereby evidences his
agreement to vote in favor of the Merger at the shareholders' meeting to be held
prior to the Closing of this Agreement.
(c) Each Shareholder acknowledges receipt of the Centennial Filings as
described in Section 8(e) below. Each Shareholder represents that he (i) is an
"accredited investor" as defined in Rule 501 of Regulation D under the
Securities Act of 1933, as amended; or (ii) either individually or together with
his representatives and advisors, has such knowledge and experience in financial
and business matters that he is capable of evaluating the merits and risks of
acquisition of the Centennial Shares and of making an informed investment
decision with respect thereto, and understands all risks of holding the
Centennial Shares for an indefinite period of time.
8. REPRESENTATIONS AND WARRANTIES OF CENTENNIAL AND FAC
Centennial and FAC represent and warrant, jointly and severally, to the
Shareholders, upon which representations and warranties the Shareholders rely,
and which representations and warranties shall survive Closing, as follows:
(a) Each of Centennial and FAC is a corporation duly organized, validly
existing and in good standing under the laws of the State of Delaware, and has
full corporate power to enter into this Agreement and to consummate the
transactions contemplated hereby.
(b) The execution and delivery of this Agreement and the consummation
of the transactions contemplated and performance of its respective obligations
hereunder have been duly authorized by each of Centennial and FAC. This
Agreement has been duly executed and delivered by each of Centennial and FAC and
constitutes the valid, legally binding and enforceable obligation of each of
Centennial and FAC in accordance with its terms, subject as to enforceability to
general equitable principles and to bankruptcy, insolvency, reor ganization,
moratorium or similar laws of general application affecting the rights and
remedies of creditors.
(c) The execution and delivery of this Agreement and the consummation
by each of Centennial and FAC of the transactions contemplated by this Agreement
and the performance of their respective obligations hereunder will not:
(i) Result in any breach of, or constitute a default under
the Certificate of Incorporation or Bylaws of any of Centennial or FAC, or any
instrument, obligation,
19
contract or agreement to which any of Centennial or FAC is a party or by which
either is bound; or
(ii) Violate any existing statute, order, writ, injunction or
decree of any court, administrative agency or governmental body.
(d) Neither Centennial nor FAC is a party to, or the subject of, any
action, suit, litigation, administrative proceeding or governmental or
quasi-governmental investigation material to the transactions contemplated
hereunder, nor, to the knowledge of Centennial or FAC, is any such action, suit,
litigation, proceeding or investigation threatened.
(e) Centennial has delivered to the Shareholders its Annual Report on
Form 10-K for its fiscal year ended June 30, 1996, its Annual Report to
Shareholders containing the consolidated financial statements of Centennial and
its subsidiaries for the fiscal year ended June 30, 1996, accompanied by the
reports thereon of Coopers & Xxxxxxx LLP, independent public accountants, its
proxy statement for the Annual Meeting of Shareholders of Centennial, dated
October 3, 1996, its Quarterly Report on Form 10-Q for the fiscal quarter ended
September 30, 1996, its Current Report on Form 8-K, dated July 24, 1996, as
amended by Form 8-K/A Amendment No. 1, dated September 23, 1996, its Current
Report on Form 8-K, dated October 17, 1996, and its Current Report on Form 8-K,
dated November 20, 1996 (collectively, the "Centennial Filings"). Since June 30,
1996, and except as specifically contemplated by this Agreement or as disclosed
or reflected in the Centennial Filings as filed with the Securities and Exchange
Commission prior to November 27, 1996 there has not been any material adverse
change in the business, financial condition or prospects of Centennial. The Form
10-K of Centennial for the fiscal year ended June 30, 1996 does not contain any
untrue statement of a material fact or any omission to state a fact necessary to
make any statement of fact contained therein not misleading in any material
respect.
(f) All Centennial Shares to be issued in accordance with this
Agreement will be, upon issuance, duly authorized, validly issued, fully paid
and non-assessable with no liability on the part of the holders thereof, except
as set forth in the Escrow Agreement described in Section 5 hereof.
9. NO ANNOUNCEMENTS
Unless approved in advance by Centennial or FAC, neither the
Shareholders nor Xxxxx.Xxx shall issue any press release or written statement
for general circulation relating
20
to the transactions contemplated hereby, except as required by law in the
opinion of its counsel.
10. COVENANTS OF XXXXX.XXX
From the date herein to the Closing Date, Xxxxx.Xxx covenants and
agrees:
(a) To conduct diligently its operations in the ordinary course of its
business and in material compliance with applicable law; and not to change any
of its operational, marketing, pricing or purchasing policies.
(b) To maintain, and to cause to be maintained, all insurance in force
in the name of Xxxxx.Xxx at the time of the signing of this Agreement on all of
its assets and its business operations, a descriptive list of which is contained
in Schedule 6(s).
(c) To preserve its operations intact, and to maintain good business
relations with its clients, customers, suppliers and others having business or
professional dealings with it.
(d) To pay when due (or within any extension of time permitted by
applicable law) all taxes, charges, salaries, costs and expenses incurred by it
in its said activities, accruing through Closing and payable prior to the
Closing Date.
(e) Not to enter into any contract, commitment, sales commitment,
transaction or transactions, other than those in the ordinary course of its
business, involving or requiring the payment of a total of more than $10,000 as
to each individual contract or $100,000 in the aggregate, without the prior
written approval of Centennial in each case.
(f) Not to increase the salary, compensation or fringe benefits of any
of its employees, without the prior written approval of Centennial.
(g) Not to make any change in its Articles of Organization or Bylaws,
or its authorized or issued shares; nor declare, pay or make any dividend or
other distribution or payment in respect of its corporate shares nor redeem or
repurchase any such shares; nor issue or sell any shares of its Common Stock.
(h) Not to make any change affecting the bank accounts, credit,
borrowing or safe deposit arrangements referred to in this Agreement; nor sell,
mortgage, encumber or dispose
21
of any of its property except as permitted under the provisions of this
Agreement or sales to customers in the ordinary course of Xxxxx.Xxx's business.
(i) To maintain its books and records in accordance with the accounting
methods historically used by Xxxxx.Xxx, such that said books and records will
fairly and correctly reflect its income, expenses, assets and liabilities.
(j) Not to incur any obligation or liability (absolute or contingent)
except current obligations and liabilities incurred in the ordinary course of
business and as permitted pursuant to this Agreement.
(k) Not to make any investments other than in certificates of deposit
in federally insured banks, or U.S. Treasury instruments.
(l) Not to take any action which would cause any of the representations
and warranties made by it herein or by any Shareholder in connection herewith,
not to be true and correct in all respects on and as of the Closing Date with
the same force and effect as if such representations and warranties had been
made on and as of the Closing Date.
(m) During the period from the date of this Agreement to the Closing
Date, to give Centennial and FAC and their representatives reasonable access to
its offices, plants, records, files and books of account for the purpose of
becoming familiar with all matters relating to Xxxxx.Xxx's business, properties
and assets; provided, however, that such process shall be con ducted in a manner
that does not unreasonably interfere with the normal operations, and customer
and employee relationships of Xxxxx.Xxx. Management of Xxxxx.Xxx shall assist
Centennial and FAC in such process, and shall cause the legal counsel,
accountants, agents, employees and other representatives of Xxxxx.Xxx to be
available to Centennial and FAC for such purposes. During such process,
Centennial and FAC shall have the right to make copies of such records, files
and other materials as they may deem advisable. If for any reason, the Closing
under this Agreement is not consummated, Centennial, FAC and their
representatives shall return promptly to Xxxxx.Xxx and keep confidential all
copies made by Centennial and FAC and their representatives of material
belonging to Xxxxx.Xxx.
(n) To maintain itself as a corporation in good standing under the laws
of the State of Florida, and prepare and file all necessary tax returns and
reports required by federal, state or municipal authorities, including tax
returns and reports for any tax liabilities, and maintain complete books and
records of all transactions.
22
(o) To use its diligent efforts to effect the consummation of the
transactions contemplated hereunder.
11. COVENANTS OF CENTENNIAL AND FAC
From the date herein to the Closing Date, Centennial and FAC covenant
and agree:
(a) Not to take any action which would cause any of the representations
and warranties made by Centennial and FAC herein not to be true and correct in
all respects on and as of the Closing Date with the same force and effect as if
such representations and warranties had been made on and as of the Closing Date.
(b) To use their diligent efforts to effect the consummation of the
transactions contemplated hereunder.
12. CONDITIONS TO OBLIGATIONS OF CENTENNIAL AND FAC
The obligations of Centennial and FAC hereunder are subject to the
fulfillment of each of the following conditions on or prior to the Closing Date,
performance of any or all of which may be waived in writing by Centennial and
FAC:
(a) Xxxxx.Xxx shall take all action necessary in accordance with
applicable law and its Articles of Organization and Bylaws to obtain the
approval, either at a meeting called for such purpose or by written consent, of
its shareholders for the purpose of approving the Merger as soon as is
reasonably practicable hereafter. No more than eight percent (8%) of the
Shareholders shall have asserted appraisal rights under the applicable
provisions of the Florida Business Corporation Act. Centennial shall have
received an opinion of counsel, satisfactory in form and substance to it, that
all applicable provisions of the Florida Business Corporation Act with respect
to mergers and rights of appraisal have been satisfied and that the Merger is
effective under the provisions of the Florida Business Corporation Act.
(b) The representations and warranties of Xxxxx.Xxx and the Warranting
Shareholders contained in this Agreement shall be true and correct in all
material respects at the Closing Date as though such representations and
warranties were made at such time. Xxxxx.Xxx shall have performed and complied
with all agreements, covenants and conditions required by this Agreement to be
performed and complied with by it prior to or at the Closing Date. Xxxxx.Xxx
shall have delivered certified articles of incorporation of Xxxxx.Xxx issued by
the Secretary of the State of Florida dated as of a recent date; shall have
delivered
23
Good Standing Certificates from the Secretary of each state in which Xxxxx.Xxx
is qualified to do business as a foreign corporation; and shall have delivered a
Certificate of Xxxxx.Xxx's President on behalf of Xxxxx.Xxx certifying to the
truth of such representations and warranties in all respects and such
performance or compliance.
(c) There shall not have been any material damage, destruction or loss
adversely affecting the assets of Xxxxx.Xxx or its financial condition.
(d) No action or proceeding shall have been instituted or threatened,
or claim or demand made, against the Shareholders, Xxxxx.Xxx, Centennial or FAC,
or any of them before any court or other governmental body, seeking to restrain
or prohibit, or to obtain damages with respect to, the consummation of the
transactions contemplated hereby, or which might materially affect the business
of Xxxxx.Xxx, which in the reasonable opinion of Centennial or FAC makes it
inadvisable to consummate such transactions.
(e) All proceedings to be taken and all documents to be executed and
delivered by the Shareholders and Xxxxx.Xxx in connection with the consummation
of the transactions contemplated hereby and by the ITP Agreement and the STP
Agreement shall be reasonably satisfactory in form and substance to Centennial
and its counsel.
(f) The Employment Agreements described in Section 18 hereof shall have
been executed and any prior agreements between Xxxxx.Xxx and those persons
identified in Section 18 hereof shall have been terminated or performed in their
entirety.
(g) Centennial shall have received assurances satisfactory to it from
its independent auditors that the transaction involving the business combination
of Centennial, FAC and Xxxxx.Xxx shall be accounted for as a
"pooling-of-interests."
(h) Each holder of outstanding options to purchase shares of Common
Stock shall have agreed in writing, in form and substance satisfactory to
Centennial and its counsel, to exchange such options for options to purchase
shares of Centennial Shares on the same terms as provided for in the Xxxxx.Xxx
options, for a number of shares and at an exercise price derived from the rate
of exchange of Xxxxx.Xxx Shares for Centennial Shares as set forth on Schedule
12(h).
(i) Xxxxx.Xxx and each stockholder and employee of Xxxxx.Xxx shall have
executed documents satisfactory to Centennial conveying to Centennial all right,
title and interest in and to the Intellectual Property.
24
(j) The Warranting Shareholders shall have delivered the resignations
of all of the directors and officers of Xxxxx.Xxx, effective as of the Closing.
13. CONDITIONS TO OBLIGATIONS OF Xxxxx.Xxx AND THE
SHAREHOLDERS
The obligations of Xxxxx.Xxx and the Shareholders hereunder are subject
to the fulfill ment on or prior to the Closing Date of each of the following
conditions, performance of any or all of which may be waived in writing by
Xxxxx.Xxx:
(a) Centennial's and FAC's representations and warranties contained in
this Agreement shall be true and correct in all material respects at Closing as
though such representations and warranties were made at such time. Centennial
and FAC shall have performed or complied with all agreements, covenants and
conditions required by this Agreement to be performed or complied with by
Centennial or FAC prior to or at Closing. Centennial and FAC shall have
delivered a Certificate of their respective Presidents certi fying to the truth
of such representations and such performance or compliance.
(b) No action or proceeding shall have been instituted or threatened or
claim or demand made against Xxxxx.Xxx, Centennial or FAC or any of them before
any court or other governmental body, seeking to restrain or prohibit or to
obtain substantial damages with respect to the consummation of the transactions
contemplated hereby.
(c) All proceedings to be taken and all documents to be executed and
delivered by Centennial or FAC in connection with the consummation of the
transactions contemplated hereby and by the ITP Agreement and the STP Agreement
shall be reasonably satisfactory in form and substance to Xxxxx.Xxx and its
counsel.
14. PROVISIONS FOR INDEMNIFICATION
(a) The Warranting Shareholders, jointly and severally, agree to defend
and indemnify Centennial and FAC and save and hold each of them harmless from,
against, for and in respect of any and all damages, losses, obligations,
liabilities, claims, costs and expenses (collectively, "Liabilities") incident
to any suit, action, investigation, claim or proceeding, suffered, sustained,
incurred or required to be paid by Centennial, FAC, or the Surviving Corporation
by reason of:
25
(i) Any material misrepresentation or breach of warranty made
by Xxxxx.Xxx, the Warranting Shareholders or the Shareholders in or pursuant to
this Agreement or any Schedule hereto or in any certificate or document
delivered pursuant to this Agree ment; or
(ii) Any failure by Xxxxx.Xxx, the Warranting Shareholders or
the Shareholders to observe or perform their respective covenants and agreements
set forth herein, which are to be performed on or prior to the Closing Date; or
(iii) Any claim, debt, liability or obligation or any alleged
claim, debt, liability or obligation of Xxxxx.Xxx to any party, incurred before
the Closing Date hereunder or arising from any matter or thing occurring before
the Closing Date hereunder, and which does not appear as a liability on
Xxxxx.Xxx's Trial Balance of November 27, 1996, except for (x) liabilities
expressly disclosed in this Agreement or any Schedule hereto (unless otherwise
indicated herein or therein) and (y) liabilities (other than Taxes) incurred
between the date of this Agreement and the Closing Date, the incurrence of which
does not violate the provi sions of this Agreement; or
(iv) Any Taxes of Xxxxx.Xxx, for all taxable periods up to and
including the Closing Date in excess of the accrual established for such
liabilities for such periods on the November 27, 1996 Balance Sheet, and all
actions, proceedings, demands, assessments, judgments, costs and expenses,
including reasonable attorneys' fees, incident to the foregoing.
(b) Centennial, FAC or the Surviving Corporation, if claiming a right
to indem nification under the provisions of this Section 14 (hereinafter, the
"Indemnitee"), shall give prompt written notice to the Warranting Shareholders
of each claim for indemnification here under, specifying the amount and nature
of the claim, and of any matter which, in the opinion of the claiming party, is
likely to give rise to an indemnification claim. The party against whom such
indemnity is sought to be recovered (hereinafter, the "Indemnitor") shall have
the right to undertake the defense of any such matter at Indemnitor's sole
expense and through legal counsel acceptable to Indemnitee, provided that
Indemnitor proceeds in good faith, expeditiously and diligently. Indemnitee
shall, at its option and expense, have the right to participate in any defense
undertaken by Indemnitor, with legal counsel of its own selection. No settlement
or compromise may be made by Indemnitor without the prior written consent of
Indemnitee unless (y) prior to such settlement or compromise Indemnitor
acknowledges in writing Indemnitor's obligation to pay in full the amount of the
settlement or compromise and all associated expenses and (z) Indemnitee is
furnished with security
26
reasonably satisfactory to Indemnitee that Indemnitor will in fact pay such
amount and expenses.
(c) Indemnitor shall pay to Indemnitee the amount of claims that are
agreed upon between Indemnitor and Indemnitee for indemnification within fifteen
(15) days after the agreement with respect thereto (the "due date"). Any amounts
not paid by the Indemnitee when due under this Section 14(c) shall bear interest
from the due date thereof until the date paid at the lower of the prime rate of
interest as announced by Nations Bank, N.A. as its prime rate plus two percent
(2%) per annum or the highest rate allowed by law.
(d)The indemnification provided in this Section 14 shall survive the
Closing for a period of one (1) year.
(e) The Warranting Shareholders shall have no liability for
indemnification pursuant to this Section 14 until the total of all Liabilities
equals or exceeds $200,000, and then for the aggregate amount of such
Liabilities.
(f) Any remedies of any party claiming indemnification hereunder shall
be cumulative and not exclusive. Specifically, but not by way of limitation, the
parties make no attempt to limit any claims based on common law fraud or other
similar remedies.
15. OPINION OF COUNSEL FOR Xxxxx.Xxx
Xxxxx.Xxx shall deliver to Centennial and FAC at Closing an opinion of
Xxxxxxxx Xxxxxxxxx, P.C., Counsel to Xxxxx.Xxx, dated as of the date of Closing,
addressed to Centennial and FAC substantially in the form of Exhibit 15 hereto.
16. OPINION OF COUNSEL FOR CENTENNIAL AND FAC
FAC shall deliver to the Shareholders at Closing an opinion of
X'Xxxxxx, Broude & Xxxxxxx, Counsel for Centennial and FAC, dated as of the
Closing Date, addressed to the Shareholders, substantially in the form of
Exhibit 16 hereto.
17. DISCLOSURE OF INFORMATION
(a) Xxxxx.Xxx recognizes and acknowledges that (i) all plans, systems,
methods, designs, procedures, books and records relating to its operations,
personnel and practices (whether instituted or commenced prior or subsequent to
the date herein), (ii) all other
27
records, documents and information concerning its business activities,
practices, and procedures, and any name or style under which it shall have been
operated prior or shall operate subsequent hereto, and (iii) any logo or other
descriptive or illustrative form therein, as they may have existed from time to
time, constitute and will constitute valuable, special and unique assets of
Xxxxx.Xxx's business. Xxxxx.Xxx therefore covenants and agrees that it will not,
prior to the Effective Date, disclose any part therein which is confidential, or
use or permit to be used any such name, style, logo or form, to or by any
person, firm, corporation, association or other entity, for any reason or
purpose whatsoever, except in the ordinary course of Xxxxx.Xxx's business or as
required by this Agreement.
(b) Xxxxx.Xxx acknowledges that the restrictions contained in Section
17(a), in view of the nature of the business in which it is engaged, are
reasonable and necessary in order to protect its legitimate interests, and that
any violation therein would result in irreparable injuries to Xxxxx.Xxx.
Xxxxx.Xxx therefore acknowledges that, in the event of a breach or threatened
breach of the provisions of this paragraph by Xxxxx.Xxx, Centennial and FAC
shall be entitled to obtain from any court of competent jurisdiction,
preliminary and permanent injunctive relief restraining Xxxxx.Xxx from
disclosing any such records, documents or information or using or permitting to
be used any such name, style, logo or form, or from being employed by or
otherwise rendering any services to any person, firm, corporation, association
or other entity to whom such records, documents or information, in whole or in
part, have been disclosed or are threatened to be disclosed.
(c) Centennial and FAC recognize and acknowledge that during the course
of negotiations in connection with this Agreement, and in preparation for
Closing hereunder, Xxxxx.Xxx will have disclosed to Centennial and FAC certain
plans, systems, methods, designs, procedures, books and records relating to its
operations, personnel and practices, as well as records, documents and
information concerning its business activities, practices, and procedures, all
of which constitute and will constitute valuable, special and unique assets of
its business. Centennial and FAC therefore covenant and agree that if the
Closing is not consummated hereunder, all copies of such information will be
returned to Xxxxx.Xxx and neither Centennial nor FAC will ever at any time
thereafter use or disclose any part therein to any person, firm, corporation,
association or other entity, for any reason or purpose whatsoever, unless such
information was known to Centennial prior to such negotiations, is subsequently
made public by Xxxxx.Xxx or any third party, is subsequently disclosed to
Centennial or FAC by any third party having a right to do so, or is required to
be disclosed by law.
28
(d) Centennial and FAC acknowledge that the restrictions contained in
subparagraph 17(c), in view of the nature of the business in which Xxxxx.Xxx is
engaged, are reasonable and necessary in order to protect the legitimate
interests of Xxxxx.Xxx, and that any violation therein would result in
irreparable injuries to Xxxxx.Xxx. Centennial and FAC therefore acknowledge
that, in the event of a breach or threatened breach of the provisions of this
paragraph by Centennial or FAC, Xxxxx.Xxx shall be entitled to obtain from any
court of competent jurisdiction, preliminary and permanent injunctive relief
restraining Centennial and/or FAC as the case may be from using or disclosing
any such records, documents or information to any person, firm, corporation,
association or other entity whatsoever.
(e) Nothing contained in this paragraph shall be construed as
prohibiting Centennial, FAC or Xxxxx.Xxx from pursuing any other remedies
available to either of them for any such breach or threatened breach of the
provisions of this Section 17, including recovery of damages and an equitable
accounting of all earnings, profits and other benefits arising from such
violation.
18. EMPLOYMENT AGREEMENTS
The Surviving Corporation agrees to enter into employment agreements
(the "Employment Agreements") with those employees designated on, and in
substantially the form annexed hereto as, Schedule 18. Any prior agreements
between Xxxxx.Xxx and such individuals shall be terminated or performed in their
entirety prior to the Closing Date.
19. SURVIVAL OF REPRESENTATIONS AND WARRANTIES
The parties hereto agree that the representations and warranties
contained in this Agreement and the Schedules hereto, and in each certificate,
document or instrument delivered in connection herewith, shall survive the
execution and delivery of this Agreement and the Closing hereunder, for two (2)
years following the Closing Date, regardless of any investigation made by any of
the parties hereto.
20. FURTHER ASSURANCES
At or subsequent to the Closing, the Shareholders, Xxxxx.Xxx,
Centennial and FAC shall each, at the request of any of the others, furnish,
execute and deliver such documents, instruments, opinions of counsel,
certificates, notices and other such instruments and further assurances as
counsel for the requesting party shall reasonably require as necessary or
desirable to effect complete consummation of this Agreement and any of the
transactions
29
contemplated hereby, or in connection with the preparation and filing of reports
required or requested by governmental agencies, stock exchanges or other
regulatory bodies.
21. NOTICES
All notices which are or may be required to be given by any party to
any other party in connection with this Agreement and the transactions
contemplated hereby shall be in writing, and shall be deemed to have been
properly given if and when delivered personally or sent by certified mail,
return receipt requested, postage prepaid, addressed as follows:
To Xxxxx.Xxx: Xxxxx.Xxx, Inc.
000 Xxxxx Xxxxx Xxxx, #000
Xxxx Xxxxx, Xxxxxxx 00000
Attn: Xxxxx Xxxxxxxxx, President
To the Shareholders: At their respective addresses
set forth at the foot of this Agreement.
To Centennial: Centennial Technologies, Inc.
00 Xxxxxxx Xxxx
Xxxxxxxxx, Xxxxxxxxxxxxx 00000
Attn: Xxxxxx X. Xxxx, Esquire
To FAC: Xxxxx.Xxx Acquisition Corporation
00 Xxxxxxx Xxxx
Xxxxxxxxx, Xxxxxxxxxxxxx 00000
Attn: Xxxxxx X. Xxxx, Esquire
In each case, with X'Xxxxxx, Broude & Xxxxxxx
copies to each of 000 Xxxxxx Xxxxxx
the other parties Suite 2300
to this Agreement Xxxxxxx, Xxxxxxxxxxxxx 00000
and to: Attn: Xxxx X. Xxxxxx, Esquire
Xxxxxxxx Xxxxxxxxx, P.C.
20th Floor
000 Xxxxx Xxxxxx
Xxxxxxxxxx, Xxxxxxxxxxxx 00000-0000
Attn: Xxxxx Xxxxxx, Esquire
30
or to such place or places or persons as any party may from time to time
designate by written notice to the other parties, given in the manner aforesaid.
22. BROKER
Except as set forth on Schedule 22 hereto, each party warrants and
represents that no broker's or finder's fee, commission or other payment is due
or payable from or by Xxxxx.Xxx, the Shareholders, Centennial or FAC or any of
them; nor has any such other fee or commission been earned by any third party on
behalf of any of the foregoing in connection with the negotiation and execution
of this Agreement or in any other manner affecting or involving the negotiation
or execution of this Agreement, or the consummation of any trans action
contemplated hereby. Each party agrees to indemnify and save the others harmless
from and against any and all claims or demands for broker's or finder's fees or
commissions from any person or persons whatsoever based on any arrangement made
by such party.
23. EXPENSES
Whether or not the transactions contemplated hereby are consummated,
each party hereto shall pay its own expenses, it being understood that Xxxxx.Xxx
shall pay the fees of Xxxxxxxx Ingersoll, PC, related to Xxxxxxxx Xxxxxxxxx,
PC's representation of Xxxxx.Xxx in connection with the negotiation,
authorization, preparation, execution and performance of this Agreement,
including, without limitation, all fees and expenses of investment banking
firms, agents, representatives, counsel and accountants.
24. ENTIRE AGREEMENT
This Agreement and the Schedules hereto set forth the entire Agreement
and understanding of the parties, and there are no other prior or
contemporaneous written or oral agreements, undertakings, promises, warranties
or covenants not specifically referred to or contained herein or attached
hereto. This Agreement may be amended, modified or terminated only by a written
instrument signed by the parties hereto.
25. BINDING EFFECT
This Agreement shall be binding upon and shall inure to the benefit of
the parties hereto, their and each of their respective heirs, executors,
administrators, successors and permitted assigns, but may not be assigned by any
party without the prior written consent of the other parties; except that
Centennial or FAC may assign its rights hereunder to any
31
affiliate of Centennial or FAC, provided that Centennial shall remain obligated
to the Shareholders with respect to its obligations under this Agreement.
26. HEADINGS
The headings of the various paragraphs of this Agreement are inserted
merely for the purpose of convenience and do not expressly or by implication
limit, define or extend the specific terms or text of the paragraph so
designated.
27. LAW GOVERNING
This Agreement shall be governed in all respects, whether as to
validity, construction, capacity, performance or otherwise, by the laws of the
Commonwealth of Massachusetts in which it has been executed and in which it has
a situs. If any provision of this Agreement shall be held invalid by a court
with jurisdiction over the parties to this Agreement, then and in that event
such provision shall be deleted from the Agreement, which shall then be
construed to give effect to the remaining provisions thereof. The Warranting
Shareholders and Xxxxx.Xxx each consent to the jurisdiction of the courts of the
Commonwealth of Massachusetts, and any federal court located therein, and to the
appropriateness of the venue of such courts, in connection with any dispute
which may arise pursuant to this Agreement or is related to the transactions
contemplated hereby.
28. COUNTERPARTS
This Agreement may be executed in one or more counterparts, all of
which taken together shall be considered one Agreement.
32
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their respective duly authorized officers, all on the day and year
first above written.
CENTENNIAL TECHNOLOGIES, INC.
By:
------------------------
Attest:
-------------------------------
XXXXX.XXX ACQUISITION CORPORATION
By:
------------------------
Attest:
-------------------------------
XXXXX.XXX, INC.
By:
------------------------
Attest:
-------------------------------
THE SHAREHOLDERS OF XXXXX.XXX
-------------------------------
Xxxxx Xxxxxxxxx
00000 XX 0xx Xxxxxx
Xxxxxxxx Xxxxx, Xxxxxxx 00000
33
-------------------------------------
Xxxxxx Xxxxxxxxx
X.X. Xxx 00000
Xxxxxxx Xxxxx, Xxxxxxx 00000
-------------------------------------
Xxxxx Brisbane
00000 Xxxxxx Xxxxxx
Xxxx Xxxxx, Xxxxxxx 00000
-------------------------------------
Xxxxx Xxxxxx
000 0xx Xxxxxx
Xxxxxx, Xxx Xxxxxx 00000
-------------------------------------
Xxxxxxxxx Xxxx
000 Xxxxxxx Xxxx
Xxxxxxxxxx, Xxxxxxxxxxxx 00000
-------------------------------------
Xxxxxxx Xxxxxx
00000 Xxxxx Xxxxxxx Xxxx., Xxxxx 000
Xxxx Xxxxx, Xxxxxxx 00000
34
-------------------------------------
Xxxx Xxx Xxxxxxxxx
00000 XX 0xx Xxxxxx
Xxxxxxxx Xxxxx, Xxxxxxx 00000
-------------------------------------
Xxxxxxx Leader
00 Xxxxxx Xxxxxx
Xxxxxxx, Xxx Xxxxxx 00000
-------------------------------------
Xxxxxx Xxxxxxxxxx
0000 XX 00xx Xxxxxxx
Xxxxx Xxxxxxx, Xxxxxxx 00000
-------------------------------------
Xxxxxx Xxxxxxxx
000 Xxxxxxx
Xxxxx, Xxxxxxx 00000
-------------------------------------
C. Xxxxxxx Xxxxxxx
0000 Xxxxxxxx Xxxxx
Xxxxxx Xxxxx, Xxxxxxx 00000
35
-------------------------------------
Xxxxx Xxxxxxx
0000 XX 00xx Xxxxxx
Xxxxxxxxxx Xxxxx, Xxxxxxx 00000
-------------------------------------
Xxxxxxx X. Xxxxxxxxx
00000 Xxxxxxxx Xxxxx
Xxxx Xxxxx, Xxxxxxx 00000
36
