AGREEMENT OF MERGER
Exhibit 2.1
AGREEMENT OF MERGER
AGREEMENT OF MERGER, dated as of June 12, 2007, but effective as of June 13, 2007, by and between AMERICAN ROCK SALT COMPANY LLC, a New York limited liability company (“ARS”) and ARS MERGECO LLC, a New York limited liability company (“Mergeco” and together with ARS, the “Constituent Companies”).
WHEREAS, ARS is a limited liability company organized and existing under and by virtue of the laws of the State of New York; and
WHEREAS, Mergeco is a limited liability company organized and existing under and by virtue of the laws of the State of New York; and
WHEREAS, the requisite percentage of the members of ARS and Mergeco deem it desirable and in the best interest of the Constituent Companies and their respective members that they merge under the laws of the State of New York, with ARS being the surviving company;
NOW, THEREFORE, it is hereby agreed as follows:
1. The names of the Constituent Companies are AMERICAN ROCK SALT COMPANY LLC and ARS MERGECO LLC.
2. The surviving company is ARS.
3. The membership interests of Mergeco are owned in accordance with the following:
(a) American Rock Salt Holdings LLC (“Holdco”) — 100%
4. The membership units of ARS are owned in accordance with the information on Schedule A attached hereto and made a part hereof.
5. Following the merger, the membership interests of ARS will be converted into membership interests of Holdco, such that ARS, as the surviving company, will be owned in accordance with the following:
(a) Holdco — 100%
6. Following the merger, the membership units of Holdco will be owned in accordance with the information on Schedule B attached hereto and made a part hereof.
7. The Articles of Organization and Operating Agreement of ARS, the surviving company, shall not be amended by virtue of the merger.
IN WITNESS WHEREOF, we have executed this Agreement of Merger as of the effective date first set forth above.
| ARS MERGECO LLC | ||||||
| By: American Rock Salt Holdings LLC, Managing Member | ||||||
| By: American Rock Salt Company LLC, Manager | ||||||
| By: | /s/ Xxxxxxx X. Xxxxxxx | |||||
| Xxxxxxx X. Xxxxxxx, Chairman | ||||||
| AMERICAN ROCK SALT COMPANY LLC | ||||||
| By: | /s/ Xxxxxxx X. Xxxxxxx | |||||
| Xxxxxxx X. Xxxxxxx, Chairman | ||||||
SCHEDULE A
American Rock Salt Company LLC Members
| Member |
Class A Units | Class F Units | ||
| G.E. Capital Corporation |
1,250.000 | |||
| Xxxxxx X. Xxxxx |
3,952.500 | |||
| Xxxxxxx X. Xxxxxxx |
4,122.075 | |||
| Xxxx X. Xxxxx |
3,442.500 | |||
| Xxxxxxx X. XxxXxxxxxx |
387.325 | |||
| Xxxxxx XxxXxxxxxx |
15.000 | |||
| Xx. Xxxxxx Xxxxx |
15.000 | |||
| Xxxxxx 1998 Trusts |
10.000 | |||
| Xxxxxx Family Trust |
10.000 | |||
| Xxxxxx Xxxxx, Xx. |
1,000.000 | 318.750 | ||
| Xxxxxxx Xxxxxx |
159.375 | |||
| Xxxxxx X. Xxxxxx |
61.200 | |||
| Salt of the Earth, LLC |
96.900 | |||
| C&C Salt, LLC |
1,012.500 | |||
| Dolomite Products Co., Inc. |
1,250.000 | |||
| Xxxxx Xxxxxx |
13.000 | |||
| Xxxxxxx Xxxxxxx |
13.000 | |||
| Estate of Xxxxxxxxxx Xxxxxx |
25.000 | |||
| C. Xxxxxx Xxxxxxx, III |
62.500 | |||
| Xxxxxxx X. Xxxx |
25.000 | |||
| Xxxxxx X. Xxxxx |
12.500 | |||
| Xxxxxxx X. X’Xxxxxx |
12.500 | |||
| Xxxxxx X. Xxxxxxxx |
12.500 | |||
| Xxxx X. Xxxxxx |
25.000 | |||
| I.C. Shah |
75.000 | |||
| Xxxxxxx Xxxxxxxxxxx |
25.000 | |||
| X’Xxxxxxx Electric Company |
250.000 | |||
| ARSC LLC |
150.000 | |||
| Xxxx Xxxxxx |
25.000 | |||
| Xxxxxxx X’Xxxxxxx |
250.000 | |||
| Xxxxxx Xxxxxxxx |
75.000 | |||
| Xxxxxxx Xxxxxx |
20.000 | |||
| Xxxxxx X. Xxxxxx |
20.000 | |||
| Xxx X. Xxxxxx |
20.000 | |||
| Xxxxxx Xxxxxx |
50.000 | 159.375 | ||
| E. Xxxxxx Xxxxxxxx |
300.000 | |||
| Xxxxxx Xxxxx |
276.500 | |||
| 6,250.000 | 12,750.000 |
SCHEDULE B
American Rock Salt Holdings LLC Members
| Member |
Class A Units | Class F Units | ||
| G.E. Capital Corporation |
1,250.000 | |||
| Xxxxxx X. Xxxxx |
3,952.500 | |||
| Xxxxxxx X. Xxxxxxx |
4,122.075 | |||
| Xxxx X. Xxxxx |
3,442.500 | |||
| Xxxxxxx X. XxxXxxxxxx |
387.325 | |||
| Xxxxxx XxxXxxxxxx |
15.000 | |||
| Xx. Xxxxxx Xxxxx |
15.000 | |||
| Xxxxxx 1998 Trusts |
10.000 | |||
| Xxxxxx Family Trust |
10.000 | |||
| Xxxxxx Xxxxx, Xx. |
1,000.000 | 318.750 | ||
| Xxxxxxx Xxxxxx |
159.375 | |||
| Xxxxxx X. Xxxxxx |
61.200 | |||
| Salt of the Earth, LLC |
96.900 | |||
| C&C Salt, LLC |
1,012.500 | |||
| Dolomite Products Co., Inc. |
1,250.000 | |||
| Xxxxx Xxxxxx |
13.000 | |||
| Xxxxxxx Xxxxxxx |
13.000 | |||
| Estate of Xxxxxxxxxx Xxxxxx |
25.000 | |||
| C. Xxxxxx Xxxxxxx, III |
62.500 | |||
| Xxxxxxx X. Xxxx |
25.000 | |||
| Xxxxxx X. Xxxxx |
12.500 | |||
| Xxxxxxx X. X’Xxxxxx |
12.500 | |||
| Xxxxxx X. Xxxxxxxx |
12.500 | |||
| Xxxx X. Xxxxxx |
25.000 | |||
| I.C. Shah |
75.000 | |||
| Xxxxxxx Xxxxxxxxxxx |
25.000 | |||
| X’Xxxxxxx Electric Company |
250.000 | |||
| ARSC LLC |
150.000 | |||
| Xxxx Xxxxxx |
25.000 | |||
| Xxxxxxx X’Xxxxxxx |
250.000 | |||
| Xxxxxx Xxxxxxxx |
75.000 | |||
| Xxxxxxx Xxxxxx |
20.000 | |||
| Xxxxxx X. Xxxxxx |
20.000 | |||
| Xxx X. Xxxxxx |
20.000 | |||
| Xxxxxx Xxxxxx |
50.000 | 159.375 | ||
| E. Xxxxxx Xxxxxxxx |
300.000 | |||
| Xxxxxx Xxxxx |
276.500 | |||
| 6,250.000 | 12,750.000 |
