Exhibit 2.6
FOURTH AMENDMENT TO
AGREEMENT AND PLAN OF
MERGER AND REORGANIZATION
This Fourth Amendment to Agreement and Plan of Merger and Reorganization
("Amendment") is made effective as of December 13, 1996, between NETTER DIGITAL
ENTERTAINMENT, INC., a Delaware corporation ("NDEI"), NETTER ACQUISITION, INC.,
a California corporation ("NAC") and VIDESSENCE, INC., a California corporation
("Videssence"), with reference to the following facts:
A. NDEI, NAC and Videssence entered into an Agreement and Plan of
Merger and Reorganization dated April 26, 1996 (the "Merger
Agreement") pursuant to which NAC would merge into Videssence,
making Videssence the wholly-owned subsidiary of NDEI.
B. NDEI, NAC and Videssence entered into the First Amendment to
Merger Agreement, dated July 3, 1996 (the "First Amendment")
and a Second Amendment to Merger Agreement, dated August 31,
1996 (the "Second Amendment"), and a Third Amendment to Merger
Agreement, dated October 30, 1996 (the "Third Amendment"),
whereby the parties amended and modified the Merger Agreement.
C. NDEI, NAC and Videssence wish to amend the Third Amendment and
further amend the Second Amendment, First Amendment and the
Merger Agreement to merge NAC into Videssence such that
Videssence becomes the wholly-owned subsidiary of NDEI on the
terms and conditions set forth in the Merger Agreement, the
First Amendment and the Second Amendment, both as modified in
this Amendment.
D. Terms with initial capital letters used in this Amendment and
not otherwise defined herein shall have the same meanings set
forth in the Merger Agreement, the First Amendment, the Second
Amendment or the Third Amendment, as appropriate.
NOW, THEREFORE, the parties hereby agree as follows:
1. Modification to Third Amendment: The Third Amendment is hereby modified as
follows:
1.1. Section 1.2 of the Third Amendment shall be amended and restated as
follows:
by Netter if any of the conditions in Article VII have not been satisfied
as of January 31, 1997 or if satisfaction of such a condition is or becomes
impossible (other than through the failure of Netter to comply with its
obligations under this Agreement) and Netter has not waived such condition on or
before January 31, 1997; or
1.2 Section 1.2 to the Third Amendment shall be amended and restated as
follows:
by Videssence, if any of the conditions in Article VIII have not been
satisfied as of January 31, 1997 or if satisfaction of such a condition is or
becomes impossible (other than through the failure of Videssence to comply with
their obligations under this Agreement) and Videssence has not waived such
condition on or before January 31, 1997;
1.3 Section 1.3 to the Third Amendment shall be amended and restated as
follows:
by either Netter or Videssence if the Closing has not occurred (other than
through the failure of any party seeking to terminate this Agreement to comply
fully with its obligations under this Agreement) on or before January 31, 1997,
or such later date as the parties may agree upon.
2. Other Provisions Unmodified. Except as expressly modified hereby, the rights,
obligations and terms of the Third Amendment, the Second Amendment, the First
Amendment and the Merger Agreement shall remain unmodified and in full force and
effect. In the event of a conflict between the Amendment and any or all of the
First Amendment, Second Amendment, Third Amendment or Merger Agreement, the
Amendment shall be controlling.
3. Counterparts. This Amendment may be executed in several counterparts, and all
so executed shall constitute an agreement, binding on all the parties hereto,
notwithstanding that all of the parties are not signatory to the original or the
same counterpart.
IN WITNESS WHEREOF, this Amendment is effective as of the date first
set forth above.
NETTER DIGITAL ENTERTAINMENT, INC., a Delaware corporation
By__/S/Xxxxxxx Netter_____________
Xxxxxxx Xxxxxx, President
VIDESSENCE, Inc., a California corporation
By_/S/Xxxx Costa___________________
Xxxx Xxxxx, President
NETTER ACQUISITION, INC., a California corporation
By__/S/Xxxxxxx Netter______________
Xxxxxxx Xxxxxx, President