EXHIBIT 2.1
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STOCK PURCHASE AGREEMENT
AMONG
RENAISSANCE WORLDWIDE STRATEGY, INC.,
RENAISSANCE WORLDWIDE, INC.,
ROME ACQUISITION CORP.,
AND SOLELY FOR THE PURPOSES OF SECTION 10.13 HEREOF,
XXXXXXX CAPITAL II, L.P.
February 29, 2000
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TABLE OF CONTENTS
1. PURCHASE AND SALE OF THE SHARES. 1
1.1. The Shares 1
1.2. Consideration 1
1.3. Advance Repayment. 1
1.4. The Closing 1
2. REPRESENTATIONS AND WARRANTIES OF SELLER AND COMPANY. 2
2.1. Organization and Qualification; Subsidiaries. 2
2.2. Certificate of Incorporation and By-Laws. 2
2.3. Capitalization. 2
2.4. Authority Relative to this Agreement. 3
2.5. Title to Shares. 3
2.6. No Conflict; Required Filings and Consents. 3
2.7. Compliance. 5
2.8. Financial Statements. 5
2.9. Absence of Certain Changes or Events. 5
2.10. No Undisclosed Liabilities. 6
2.11. Absence of Litigation. 6
2.12. Employee Benefit Plans, Employment Agreements. 6
2.13. Labor Matters. 8
2.14. All Assets Necessary to Conduct Business 8
2.15. Title to Property. 8
2.16. Taxes. 9
2.17. Environmental Matters. 10
2.18. Intellectual Property. 11
2.19. Immigration Compliance. 12
2.20. Transactions with Affiliates. 12
2.21. Brokers. 12
2.22. Change in Control Payments. 13
2.23. Accounts Receivable; Accounts Payable 13
2.24. Warranty and Related Matters. 13
2.25. Corporate Records; Copies of Documents 14
2.26. Customers 14
2.27. Customer Intentions 14
2.28. Year 2000 14
2.29. Employees of the Business Strategy Group 15
2.30. Full Disclosure. 15
3. REPRESENTATIONS AND WARRANTIES OF BUYER 15
3.1. Organization and Qualification. 15
i
3.2. Authority Relative to this Agreement. 15
3.3. No Conflict, Required Filings and Consents. 15
3.4. Brokers. 16
3.5. Investment Intent. 16
4. COVENANTS OF THE PARTIES 17
4.1. Conduct of Business Prior to Closing 17
4.2. Exclusivity 18
4.3. HSR Act. 18
4.4. Access to Information; Confidentiality. 19
4.5. Consents; Approvals. 19
4.6. Public Announcements. 19
4.7. Non-Competition, Non-Solicitation. 19
4.8. Business Records. 21
4.9. Tax Matters 21
4.10. Use of Names. 24
4.11. Assignment of Intellectual Property. 24
4.12. Leases. 25
4.13. Bonus Repayment 26
4.14. Notice of Default. 26
4.15. Provision of Employees 26
4.16. Equipment Leases 26
4.17. Dissolutions and Distributions 27
4.18. Indebtedness between Seller and Company 27
4.19. Transfer of Litigation. 27
4.20. Payment. 27
4.21. Certain Accounts. 27
5. CONDITIONS PRECEDENT TO THE OBLIGATIONS OF EACH PARTY. 27
5.1. HSR Act 27
5.2. No Injunctions or Restraints; Illegality. 27
6. ADDITIONAL CONDITIONS PRECEDENT TO THE OBLIGATIONS OF THE BUYER. 28
6.1. Representations and Warranties 28
6.2. Agreements and Covenants 28
6.3. Consents Obtained 28
6.4. Liens. 28
6.5. Guaranty. 29
6.6. Delivery of Shares. 29
6.7. Opinion of Seller's Counsel. 29
6.8. No Material Adverse Change 29
6.9. Earnout Payments 29
6.10. Indebtedness of the Company and the Subsidiaries 29
ii
6.11. [Reserved] 29
6.12. Transition Services 29
6.13. Dissolutions and Distributions 29
6.14. Licensing Agreement. 30
6.15. Transferred Litigation. 30
7. ADDITIONAL CONDITIONS PRECEDENT TO OBLIGATIONS OF THE SELLER 30
7.1. Representations and Warranties 30
7.2. Agreements and Covenants 30
7.3. Consents Obtained 30
7.4. Payment of Purchase Price. 30
7.5. Advance Repayment 30
7.6. Opinion of Buyer's Counsel. 30
8. INDEMNIFICATION 30
8.1. Survival of Representations and Warranties 31
8.2. Indemnity by the Seller 31
8.3. Limitations on Indemnity by the Seller 32
8.4. Additional Indemnity by the Seller. 32
8.5. Matters Involving Third Parties 33
9. DEFINITIONS. 34
10. MISCELLANEOUS 38
10.1. Knowledge. 38
10.2. Notices. 38
10.3. Expenses of Transaction 40
10.4. Entire Agreement. 40
10.5. Assignment 40
10.6. Governing Law, etc. 41
10.7. Waiver of Jury Trial. 41
10.8. Counterparts. 41
10.9. Headings. 41
10.10. Termination. 41
10.11. Effect of Termination. 43
10.13. The Guarantor. 43
Disclosure Schedule
Section 2.1 Subsidiaries
Section 2.3 Capitalization
Section 2.5 Title to Shares
iii
Section 2.6 Conflicts
Section 2.7 Compliance
Section 2.8 Financial Statements
Section 2.9 Absence of Changes
Section 2.10 Undisclosed Liabilities
Section 2.11 Litigation
Section 2.12 Benefit Plans
Section 2.13 Labor Matters
Section 2.14 Assets
Section 2.15 Title to Property
Section 2.16 Taxes
Section 2.17 Environmental Matters
Section 2.18 Intellectual Property
Section 2.19 Immigration Compliance
Section 2.20 Transactions with Affiliates
Section 2.21 Brokers
Section 2.22 Change in Control Payments
Section 2.23 Accounts Receivable; Accounts Payable
Section 2.24 Warranty and Related Matters
Section 2.25 Corporate Records; Copies of Documents
Section 2.26 Customers
Section 2.27 Year 2000
Section 2.28 Disclosure
Section 2.29 Employees of the Business Strategy Group
Section 3.3 Conflicts
Section 3.4 Brokers
Section 4.2 Exclusivity
Section 4.10 Allocation of Purchase Price
Section 4.11 Agreements
Section 4.12 Leases
Section 4.15 Provision of Employees
Section 4.17 Dissolutions and Distributions
List of Exhibits
Exhibit A-1 Assignment of Rights in Trademarks, Service Marks and Trade Names
Exhibit A-2 Assignment of Rights in Trademarks, Service Marks and Trade Names
Exhibit B Assignment Agreement
Exhibit C Consents
Exhibit D Opinion of Xxxxxx Xxxxx Xxxxxxx
Exhibit E Transition Services Agreement
iv
Exhibit F License Agreement
v
STOCK PURCHASE AGREEMENT
THIS AGREEMENT is made as of February 29, 2000 among Rome Acquisition
Corp., a Delaware corporation (the "Buyer"), and solely for the purposes of
Section 10.13 hereof, Xxxxxxx Capital II, L.P., a Delaware limited partnership
(the "Guarantor"), Renaissance Worldwide Strategy, Inc., a Delaware corporation
(the "Company"), and Renaissance Worldwide, Inc., a Massachusetts corporation
and the holder of all of the outstanding capital stock of the Company (the
"Seller").
WHEREAS, the Seller owns all of the outstanding shares of capital stock of
the Company (the "Shares"); and
WHEREAS, this Agreement contemplates a transaction in which the Buyer will
purchase from the Seller, and the Seller will sell to the Buyer, all of the
Shares in exchange for the Purchase Price (as defined below).
NOW, THEREFORE, in consideration of these premises, the respective
covenants of the Buyer, the Company and the Seller set forth below and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1. PURCHASE AND SALE OF THE SHARES.
1.1. The Shares. Subject to compliance with all the terms and conditions
of this Agreement and in reliance on the representations and warranties set
forth in this Agreement, the Seller agrees to sell to the Buyer, and the Buyer
agrees to purchase from the Seller, at the Closing all of the Shares for the
Purchase Price.
1.2. Consideration. The consideration to be paid by the Buyer to the
Seller for the Shares shall be cash in an aggregate amount equal to $65,000,000
in cash payable by wire transfer to the Seller (the "Purchase Price").
1.3. Advance Repayment. The Buyer shall pay to Seller at the Closing
$1,115,950 in cash to repay the Seller for advances by Seller to the Company for
payment by the Company of amounts to employees of the Company (plus applicable
social security, unemployment and Medicare payments) as shown on Section 1.3 of
the Disclosure Schedule.
1.4. The Closing. The closing (the "Closing") shall be held at the offices
of Ropes & Xxxx, Xxx Xxxxxxxxxxxxx Xxxxx, Xxxxxx, Xxxxxxxxxxxxx, at 10:00 a.m.
as promptly as practicable (and in any event within two business days) after
satisfaction or waiver of the conditions set forth in Sections 5, 6 and 7, but
in any event no later than March 10, 2000, subject to the satisfaction or waiver
of the conditions set forth in Sections 5, 6 and 7 by such date (the "Closing
Date"). At the Closing: (a) the Seller will deliver to the Buyer stock
certificates representing all of the Shares, together with separate stock powers
executed in blank; (b) the Buyer will deliver to the
Seller the Purchase Price in immediately available funds; and (c) each party
will deliver to the other such certificates, opinions and other documents as are
contemplated hereby.
2. REPRESENTATIONS AND WARRANTIES OF SELLER AND COMPANY.
The Seller and the Company hereby jointly and severally represent and
warrant to Buyer that, except as set forth in the written disclosure schedule
delivered on or prior to the date hereof by the Seller and the Company to Buyer
that is arranged in paragraphs corresponding to the numbered and lettered
paragraphs contained in this Section 2 (the "Disclosure Schedule"):
2.1. Organization and Qualification, Subsidiaries. Each of the Company,
the Subsidiaries and the Seller is a corporation duly organized, validly
existing and in good standing under the laws of the jurisdiction of its
incorporation and has the requisite corporate power and authority necessary to
own, lease and operate its properties and to carry on its business as it is now
being conducted. Each of the Company and Subsidiaries is duly qualified or
licensed as a foreign corporation to do business, and is in good standing, in
each jurisdiction where the character of its properties owned, leased or
operated by it or the nature of its activities makes such qualification or
licensing necessary, except for such failures to be so duly qualified or
licensed and in good standing that would not reasonably be expected to have a
Material Adverse Effect. A true and complete list of the jurisdiction of
incorporation and authorized capitalization of the Subsidiaries is set forth in
Section 2.1 of the Disclosure Schedule. Other than the Subsidiaries, the Company
does not directly or indirectly own any equity or similar interest in, or any
interest convertible into or exchangeable or exercisable for, any equity or
similar interest in, any corporation, partnership, joint venture or other
business association or entity, excluding securities in any publicly traded
company held for investment by the Company and comprising less than one percent
of the outstanding stock of such company.
2.2. Certificate of Incorporation and By-Laws. The Seller has heretofore
furnished to Buyer a complete and correct copy of the Company's Certificate of
Incorporation and By-Laws as most recently restated and subsequently amended to
the date hereof and has furnished to Buyer the Certificate of Incorporation and
By-Laws (or equivalent organizational documents) of each of the Subsidiaries (as
to each Subsidiary, the "Subsidiary Documents"). Such Certificate of
Incorporation, By-Laws and Subsidiary Documents are in full force and effect and
neither the Company nor Subsidiaries is in violation of any of the provisions of
its Certificate of Incorporation or By-Laws or Subsidiary Documents.
2.3. Capitalization. The authorized capital stock of the Company consists
of 3,000 shares of common stock, $0.01 par value. As of the date hereof, 1,000
shares of common stock were issued and outstanding, all of which are validly
issued, fully paid and nonassessable. There are no options, warrants or other
rights, agreements, arrangements or commitments of any character existing on the
date hereof to which the Company or Subsidiaries are a party relating to the
issued or unissued capital stock of the Company or Subsidiaries or obligating
the Company or Subsidiaries to issue or sell any shares of capital stock of, or
other equity interests in, the
Company or Subsidiaries. There are no obligations, contingent or otherwise, of
the Company or Subsidiaries to repurchase, redeem or otherwise acquire any
shares of common stock or the capital stock of any subsidiary or to provide
funds to or make any investment (in the form of a loan, capital contribution,
guaranty or otherwise) in any such subsidiary or any other entity. All of the
outstanding shares of capital stock of Subsidiaries is duly authorized, validly
issued, fully paid and nonassessable, and all such shares are owned by the
Company, free and clear of all security interests, liens, claims, pledges,
agreements, limitations in respect of voting rights, charges or other
encumbrances of any nature whatsoever (collectively, the "Liens").
2.4. Authority Relative to this Agreement. Each of the Seller and the Coin
an has all necessary corporate power and authority to execute and deliver this
Agreement and to perform its obligations hereunder and to consummate the
transactions contemplated hereby. The execution and delivery of this Agreement
by each of the Seller and the Company and the consummation by each of the Seller
and the Company of the transactions contemplated hereby have been duly and
validly authorized by all necessary corporate action on the part of each of the
Seller and the Company, respectively. This Agreement has been duly and validly
executed and delivered by each of the Seller and the Company, and assuming the
due authorization, execution and delivery by Buyer, constitutes a legal, valid
and binding obligation of each of the Seller and the Company, enforceable
against each of them in accordance with its terms.
2.5. Title to Shares. The Seller is the sole record and beneficial owner
of, and has good and marketable title to, the Shares free and clear of any Lien,
except for restrictions on transfer imposed by applicable securities laws.
Neither the Seller nor the Company is a party to any option, warrant, purchase
right or other contract or commitment that requires the Seller or the Company to
sell, transfer or otherwise dispose of any capital stock of the Company, except
for this Agreement. Upon endorsement by the Seller of the certificate
representing the Shares and delivery of such certificate by the Seller to the
Buyer at the Closing, the Shares will have been duly transferred to the Buyer
free and clear of any Lien (other than any Lien created by Buyer), except for
restrictions on transfer imposed by the applicable securities laws.
2.6. No Conflict; Required Filings and Consents.
(a) Section 2.6(a) of the Disclosure Schedule includes a list of (i)
all loan agreements, indentures, mortgages, pledges, conditional sale or
title retention agreements, security agreements, guaranties and standby
letters of credit, equipment leases or lease purchase agreements to which
the Company or Subsidiaries are a party or by which they or any of their
properties or assets, or any BSG Properties or BSG Assets, are bound and
(ii) all contracts, agreements, commitments or other understandings or
arrangements to which the Company or Subsidiaries are a party or by which
they, any of their properties or assets, or any BSG Properties or BSG
Assets, are bound or affected, but excluding any contract, agreement,
commitment or other understanding or arrangement entered into in the
ordinary course of business and involving, in the case of each of clauses
(i) and (ii) above, payments or receipts by the Seller, the Company , the
Business Strategy Group or
any of the Subsidiaries of less than $75,000 in any single instance
(collectively, the "Contracts").
(b) (i) Neither the Seller, the Company nor Subsidiaries has
materially breached, is in material default under, or has received written
notice of any material breach of or material default under, any of the
Contracts, (ii) to the best knowledge of the Seller, no other party to any
of the Contracts has materially breached or is in material default of any
of its obligations thereunder, and (iii) to the best knowledge of the
Seller, each of the Contracts is in full force and effect.
(c) The execution and delivery of this Agreement by each of the
Seller and the Company does not, and the performance of this Agreement by
each of the Seller and the Company and the consummation of the
transactions contemplated hereby will not, (i) conflict with or violate
the Certificate of Incorporation (or Articles of Organization) or By-Laws
of the Seller or the Company, (ii) conflict with or violate any federal,
foreign, state or provincial law, rule, regulation, order, judgment or
decree (collectively, "Laws") applicable to the Company or Subsidiaries or
the Seller, by which its or any of their respective properties or by which
any of the BSG Properties is bound or affected, or (iii) conflict with,
result in any breach of or constitute a default (or an event that with
notice or lapse of time or both would become a default) under, or impair
the rights of the Subsidiaries, the Company or the Seller or alter the
rights or obligations of any third party under, or give to others any
rights of termination, amendment, acceleration or cancellation of, or
result in the creation of a Lien on any of the properties or assets of the
Company, Subsidiaries or Seller or on any of the BSG Properties or BSG
Assets pursuant to, any note, bond, mortgage, indenture, contract,
agreement, lease, license, permit, franchise or other instrument or
obligation to which the Company, Subsidiaries or Seller is a party or by
which the Company, Subsidiaries or Seller, any of their respective
properties or any of the BSG Properties is bound or affected, except as to
clause (iii) above for any such conflicts, violations, breaches, defaults,
impairments, alterations or other occurrences that would not reasonably be
expected to have a Material Adverse Effect.
(d) The execution and delivery of this Agreement by each of the
Seller and the Company does not, and the performance of this Agreement by
each of the Seller and the Company will not, require any consent,
approval, authorization or permit of, or filing with or notification to,
any federal, foreign, state or provincial governmental or regulatory
authority to be obtained or made by the Seller, the Company or any of the
Subsidiaries except for applicable requirements, if any, of the Securities
Exchange Act of 1934, as amended, and the rules and regulations thereunder
(the "Exchange Act"), the pre-merger notification requirements of the
Xxxx-Xxxxx-Xxxxxx Antitrust Improvements Act of 1976, as amended (the "HSR
Act").
2.7. Compliance. The Company and the Subsidiaries each has all Approvals
necessary to permit it to own its property and to conduct the business of the
Business Strategy Group as it is presently conducted or proposed to be conducted
and all such Approvals are valid and in full force and effect, except for any
such Approvals, the absence of which would not reasonably be expected to have a
Material Adverse Effect. Neither the Company nor Subsidiaries is in conflict
with, or in default or violation of any Law or Approval applicable to the
Company or Subsidiaries or by which its or any of their respective properties,
or any of the BSG Properties or BSG Assets, is bound or affected except for any
such conflicts, defaults or violations which would not reasonably be expected to
have a Material Adverse Effect. Neither the Company nor Subsidiaries is subject
to any judgment, consent decree, compliance order or administrative order with
respect to any aspect of the business, properties or assets of the Company or
the Subsidiaries or of the Business Strategy Group business, BSG Properties or
the BSG Assets, except where such judgment, consent decree, compliance order or
administrative order would not reasonably be expected to have a Material Adverse
Effect.
2.8. Financial Statements. The Seller has furnished the Buyer with copies
of the following financial statements of the Business Strategy Group: (a) the
audited consolidated balance sheet as of December 26, 1998; (b) the audited
consolidated balance sheet as of October 30, 1999 (the "Audit Date") and the
related statement of income for the ten (10) months ended October 30, 1999; and
(c) the unaudited consolidated balance sheet as of November 30, 1999 (the "Most
Recent Balance Sheet") and the statement of income for the eleven (11) months
ended November 30, 1999 ((a), (b) and (c) collectively, the "Financial
Statements"). Except as described in Section 2.8 of the Disclosure Schedule, the
Financial Statements (i) present fairly the financial position of the Company
and Subsidiaries and the results of operations of the Company and Subsidiaries
as of the respective dates thereof and for the periods covered thereby and (ii)
were prepared in accordance with generally accepted accounting principles
("GAAP"), applied on a consistent basis throughout the periods covered thereby;
provided, however, that the Financial Statements described in clause (c) above
lack notes and the Financial Statements described in clause (c) above may be
subject to normal, recurring adjustments that would be made in the course of an
audit and that would not be material. To the knowledge of the Seller, there is
no contingent liability material to the Company, Subsidiaries or the Business
Strategy Group that, as of the date thereof, should be reflected on the Most
Recent Balance Sheet that is not so reflected or disclosed.
2.9. Absence of Certain Changes or Events. Since the Audit Date, the
Company, the Subsidiaries and the Business Strategy Group, taken as a whole,
have conducted their business in the ordinary course consistent with past
practice and there has not occurred: (a) any Material Adverse Effect; (b) any
amendments or changes in (i) the Certificate of Incorporation or By-laws of the
Company or (ii) the Subsidiary Documents; (c) any damage to, destruction or loss
of any material asset of the Company or the Subsidiaries or any material BSG
Asset (whether or not covered by insurance); (d) any change by the Company, the
Business Strategy Group or the Subsidiaries in their accounting methods,
principles or practices, collection policies, pricing policies or payment
policies; (e) any material revaluation by the Company, the Seller or any of
the Subsidiaries of any of their respective assets or any BSG Asset; (f) any
other action or event that would have required the consent of Buyer pursuant to
Section 4.1 had such action or event occurred after the date of this Agreement;
(g) any amendment or termination of any Contract; (h) any obligation or
liability incurred by the Company or the Subsidiaries to any of their officers,
directors, stockholders or employees, or any loans or advances made by the
Company or the Subsidiaries to any of their officers, directors, stockholders or
employees, except normal compensation and expense allowances payable to
employees; (i) any resignation, termination or removal of the officers of the
Company or the Subsidiaries or loss of key personnel of the Company or the
Subsidiaries or the Business Strategy Group or change in the terms and
conditions of the employment of the officers or key personnel of the Business
Strategy Group; (j) any written claim of unfair labor or employment practices
involving the Company or the Subsidiaries; (k) any establishment or creation of
any employment, deferred compensation or severance arrangement or employee
benefit plan by the Company or the Subsidiaries or the amendment by the Company
or the Subsidiaries of any of the foregoing; or (1) any sale of a material
amount of property of the Company, the Business Strategy Group or the
Subsidiaries taken as a whole.
2.10. No Undisclosed Liabilities. Except as disclosed in the Financial
Statements, neither the Company, the Subsidiaries nor the Business Strategy
Group has any liabilities (absolute, accrued, contingent or otherwise), except
liabilities (a) in the aggregate adequately provided for in the Most Recent
Balance Sheet, (b) incurred in the ordinary course of the Business Strategy
Group's business and not required under GAAP to be reflected on the Most Recent
Balance Sheet, (c) incurred since the date of the Most Recent Balance Sheet in
the ordinary course of the Business Strategy Group's business consistent with
past practice or (d) incurred in connection with this Agreement.
2.11. Absence of Litigation. There are no claims, actions, suits,
proceedings or investigations pending or, to the knowledge of the Seller,
threatened against the Company or the Subsidiaries, or involving the BSG Assets,
the BSG Properties or any properties or rights of the Company or the
Subsidiaries (or, as to matters related to the Company, the Subsidiaries or the
Business Strategy Group business, with respect to which the Seller has received
written notice, against any officers, directors, shareholders or key employees
of the Business Strategy Group), before any federal, foreign, state or
provincial court, arbitrator or administrative, governmental or regulatory
authority or body that would reasonably be expected to have a Material Adverse
Effect.
2.12. Employee Benefit Plans, Employment Agreements.
(a) Section 2.12(a) of the Disclosure Schedule lists as of the date
hereof all employee pension plans (as defined in Section 3(2) of the
Employee Retirement Income Security Act of 1974, as amended ("ERISA")),
all material employee welfare plans (as defined in Section 3(1) of ERISA),
and all other material bonus, stock option, stock purchase, incentive,
deferred compensation, supplemental retirement, severance and other
similar fringe or employee benefit plans, programs or arrangements,
written or otherwise, which the Company or the Subsidiaries maintain or to
which the Company or the Subsidiaries contribute for the benefit of any
group of current or former employees of or consultants to the Company, the
Subsidiaries or the Business Strategy Group (all such plans, practices and
programs are referred to as the "Employee Plans"). To the extent requested
by Buyer, there have been made available to Buyer copies of (i) each such
written Employee Plan (other than those referred to in Section 4(b)(4) of
ERISA) (ii) the most recent annual report on Form 5500 series, with
accompanying schedules and attachments, filed with respect to each
Employee Plan required to make such a filing, and (iii) copies of summary
plan descriptions for each such written Employee Plan (other than those
referred to in Section 4(b)(4) of ERISA). For purposes of this Section
2.12(a), the term "material," used with respect to any Employee Plan,
shall mean that the Company or an ERISA Affiliate has incurred or may
reasonably be expected to incur obligations in an annual amount exceeding
$50,000 with respect to such Employee Plan.
(b) (i) None of the Employee Plans promises or provides retiree
medical or other retiree welfare benefits to any person (other than health
care continuation coverage as required by COBRA), and none of the Company
Employee Plans is a "multiemployer plan" as such term is defined in
Section 3(37) of ERISA; (ii) there has been no non-exempt "prohibited
transaction," as such term is defined in Section 406 of ERISA and Section
4975 of the Code, with respect to any Employee Plan, which could result in
any liability of the Company or any of the Subsidiaries; (iii) all
Employee Plans are in compliance in all respects with the requirements
prescribed by any and all Laws (including ERISA and the Code), currently
in effect with respect thereto; (iv) neither the Company nor any ERISA
Affiliate maintains, or within the preceding six years has maintained, an
Employee Plan subject to Title IV of ERISA or Section 412 of the Code; (v)
to the knowledge of the Seller, each Employee Plan intended to qualify
under Section 401(a) of the Code and each trust intended to qualify under
Section 501(a) of the Code so qualifies; (vi) all contributions required
to be made to any Employee Plan pursuant to the terms of the Employee Plan
or any collective bargaining agreement, have been made or accrued on the
financial statements of the Company in accordance with GAAP, except where
the failure of any of the foregoing subparagraphs (i) through (vi) to be
true would not have a Material Adverse Effect.
(c) Section 2.12(c) of the Disclosure Schedule sets forth as of the
date hereof a true and complete list of: (i) all written employment
agreements with officers or employees of the Company, the Subsidiaries or
the Business Strategy Group that provide for annual base salaries in
excess of $120,000; (ii) all agreements with consultants who are
individuals, independent contractors or advisors obligating the Company or
the Subsidiaries to make annual cash payments in an amount exceeding
$120,000; and (iii) all severance agreements, programs and policies of the
Company or the Subsidiaries with or relating to its employees or employees
of the Business Strategy Group, in each case
with outstanding commitments exceeding $120,000, excluding programs and
policies required to be maintained by law.
2.13. Labor Matters.
(a) There are no claims or proceedings pending or, to the knowledge
of Seller, threatened, between the Company or Subsidiaries and any of
their respective employees, asserting that the Company or the Subsidiaries
have committed employment discrimination or an unfair labor practice which
claims or proceedings are currently having or would reasonably be expected
to have a Material Adverse Effect;
(b) neither the Company nor the Subsidiaries nor the Seller is a
party to any collective bargaining agreement or other labor union contract
applicable to persons employed by the Company or the Subsidiaries;
(c) the Seller has no knowledge of any strikes, slowdowns, work
stoppages, lockouts, or threats thereof, by or with respect to any
employees of the Company or Subsidiaries, which would reasonably be
expected to have a Material Adverse Effect;
(d) neither the Company nor the Subsidiaries is delinquent in
payments to any of its employees or consultants for any wages, salaries,
commissions, bonuses, fees or other compensation for services; and
(e) each of the Company and the Subsidiaries is, and has heretofore
been, in compliance in all material respects with all applicable Laws
respecting labor, employment, fair employment practices, terms and
conditions of employment and wages and hours.
2.14. All Assets Necessary to Conduct Business. The Company or the
Subsidiaries own all of the assets, properties and rights necessary to conduct
the Business Strategy Group business as currently conducted by the Company, the
Subsidiaries and the Seller, as a whole.
2.15. Title to Property. Each of the Company and the Subsidiaries has good
and marketable title to all of the BSG Properties and BSG Assets, free and clear
of all Liens, except for Liens for taxes not yet due and payable and such Liens
or other imperfections of title, if any, as do not materially detract from the
value of or interfere with the present use of the property affected thereby or
which would not have a Material Adverse Effect. All leases pursuant to which the
Seller, the Seller, the Company or the Subsidiaries lease from others BSG
Properties or BSG Assets are, to the knowledge of the Seller, in good standing,
valid and effective in accordance with their respective terms, and there is not
under any of such leases, any existing material default or event of default (or
event which with notice or lapse of time, or both, would constitute a material
default) by either the Company or the Subsidiaries, or, to the knowledge of
the Seller, any other party thereto. Neither the Company nor the Subsidiaries
owns any real property.
2.16. Taxes.
(a) For purposes of this Agreement, "Tax" or "Taxes" shall mean
taxes and assessments payable to any federal, state, local or foreign
taxing authority, including (without limitation) (i) income, franchise,
profits, gross receipts, ad valorem, net worth, value added, sales, use,
service, real or personal property, special assessments, capital stock,
license, payroll, withholding, employment, social security, workers'
compensation, unemployment compensation, utility, severance, production,
excise, stamp, occupation, premiums, windfall profits, transfer and gains
taxes, and (ii) interest, penalties, additional taxes and additions to tax
imposed with respect thereto; and "Tax Returns" shall mean returns,
reports, and information statements with respect to Taxes required to be
filed with the Internal Revenue Service (the "IRS") or any other federal,
foreign, state or provincial taxing authority, domestic or foreign,
including, without limitation, consolidated, combined and unitary tax
returns.
(b) All Tax Returns required to be filed by, or which include, the
Company or any of the Subsidiaries have been timely filed (giving effect
to extensions), other than those Tax Returns as to which the failure to
file would not reasonably be expected to have a Material Adverse Effect.
Each of the Company and the Subsidiaries has paid (or had paid on its
behalf) all material Taxes required to be paid by it.
(c) There are no outstanding liens for Taxes (other than for current
Taxes not yet due and payable) upon the assets of the Company or
Subsidiaries which would reasonably be expected to have a Material Adverse
Effect.
(d) There is no outstanding dispute or claim concerning any Tax for
which the Company or Subsidiaries could be liable which would reasonably
be expected to have a Material Adverse Effect.
(e) The Financial Statements contain adequate provision through the
dates thereof for all unpaid Taxes of the Company and Subsidiaries
determined in accordance with GAAP.
(f) Neither the Company nor any of the Subsidiaries has any
liability for any Taxes (or any Losses related to Taxes) of any other
Person (other than members of the consolidated group of which Seller is
the common parent) under Treasury Regulations ss.1.1502.6, any similar
provision of foreign, state or local law, by contract, or otherwise. The
consolidated group of which Seller is common parent has paid all Taxes
required to be paid by any of its members for which any of the Company or
the Subsidiaries has or
would have any liability for each taxable period during which the Company
or either of the Subsidiaries was a member of such group.
(g) Excluding payments pursuant to new employment agreements defined
as New Agreements in Section 2.12 of the Disclosure Schedule, and payments
pursuant to any other arrangements put in place by the Company after the
Closing, the Company has not made and is not obligated to make any
material payments that are not deductible under IRC Section 280G. The
Company has not filed a consent under IRC Section 341(f).
(h) None of the Company or the Subsidiaries is a party to a tax
allocation or sharing agreement that is not described in Section 4.9(g).
(i) The Seller and the Company are members of a "selling
consolidated group" within the meaning of Treasury Regulations ss.
1.338(h)(l0)-l(d).
(j) Each Subsidiary has been resident for tax purposes and for the
purposes of the U.K./U.S. Double Tax Treaty in the United Kingdom and
nowhere else at all times since its incorporation and will be so resident
at the Closing.
(k) Each Subsidiary has properly operated the PAYE and National
Insurance contributions systems by making such deductions as are required
by law from all payments made or deemed to be or treated as made by it or
on its behalf, and by duly accounting to the relevant taxing authority for
all sums so deducted.
2.17. Environmental Matters. Except in all cases as, in the aggregate,
have not had and would not reasonably be expected to have a Material Adverse
Effect, the Company, the Business Strategy Group and the Subsidiaries: (i) have
obtained all Approvals which are required to be obtained under all applicable
federal, state, foreign or local laws or any regulation, code, plan, order,
decree, judgment, notice or demand letter issued, entered, promulgated or
approved thereunder relating to pollution or protection of the environment,
including laws relating to emissions, discharges, releases or threatened
releases of pollutants, contaminants, or hazardous or toxic materials or wastes
into ambient air, surface water, ground water, or land or otherwise relating to
the manufacture, processing, distribution, use, treatment, storage, disposal,
transport, or handling of pollutants, contaminants or hazardous or toxic
materials or wastes by the Business Strategy Group, the Company or Subsidiaries
or their respective agents ("Environmental Laws"); (ii) are in compliance with
all terms and conditions of such required Approvals, and also are in compliance
with all other limitations, restrictions, conditions, standards, prohibitions,
requirements, obligations, schedules and timetables contained in applicable
Environmental Laws; (iii) have not received notice of any past or present
violations of Environmental Laws or any event, condition, circumstance,
activity, practice, incident, action or plan which is reasonably likely to
interfere with or prevent continued compliance with or which would give rise to
any common law or statutory liability, or otherwise form the basis of any claim,
action, suit or proceeding, against the Company or Subsidiaries based on or
resulting
from the manufacture, processing, distribution, use, treatment, storage,
disposal, transport or handling, or the emission, discharge or release into the
environment, of any pollutant, contaminant or hazardous or toxic material or
waste; and (iv) have taken all actions necessary under applicable Environmental
Laws to register any products or materials required to be registered by the
Business Strategy Group, the Company or the Subsidiaries (or any of their
respective agents) thereunder.
2.18. Intellectual Property.
(a) The Company, directly or indirectly, owns, or is licensed or
otherwise possesses legally enforceable rights to use, all trademarks,
trade names, service marks, copyrights, and any applications therefor,
know-how, computer software programs or applications, and tangible or
intangible proprietary information or material that are used in and
material to the Business Strategy Group business as currently conducted
(the "Intellectual Property Rights").
(b) No claims are pending, have been asserted to the Seller, the
Company or the Subsidiaries in writing or, to the knowledge of the Seller,
are threatened by any person nor to the knowledge of the Seller has there
occurred any event nor does there exist any condition on the basis of
which any valid claim may be asserted (i) against the use by the Business
Strategy Group, the Company or Subsidiaries of the Intellectual Property
Rights, or (ii) challenging the ownership by the Business Strategy Group,
the Company or Subsidiaries, or the validity or effectiveness of any of
the Intellectual Property Rights, except for such claims that would not,
individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect.
(c) To the knowledge of the Seller, the Business Strategy Group
business as presently conducted and the production, marketing, licensing,
use and servicing of any products or services of the Company or the
Subsidiaries do not infringe or conflict with any existing patent,
trademark, copyright, trade secret or any other intellectual property
rights of any third party.
(d) All licenses or other agreements under which the Company or the
Subsidiaries are granted Intellectual Property Rights (excluding licenses
to use "off the shelf' software which is generally commercially available)
are, to the knowledge of the Seller, in full force and effect and there is
no material default by the Company or the Subsidiaries. All licenses or
other agreements under which the Company or the Subsidiaries have granted
Intellectual Property Rights to others are, to the knowledge of the
Seller, in full force and effect and there is no material default by the
Company or the Subsidiaries with respect to such licenses and other
agreements.
2.19. Immigration Compliance.
(a) The Company is in compliance in all material respects with all
applicable foreign, federal, state and local laws, rules, directives and
regulations relating to the employment authorization of its employees
(including, without limitation, the Immigration Reform and Control Act of
1986, as amended and supplemented, and Section 212(n) and 274A of the
Immigration and Nationality Act, as amended and supplemented, and all
implementing regulations relating thereto), and, to the knowledge of the
Seller, neither the Company nor the Seller (to the extent relating to
employees of the Business Strategy Group) has employed or is it currently
employing any unauthorized aliens (as such term is defined under 8 CFR
274a.1(a)).
(b) Neither the Seller nor the Company has received any notice from
the Immigration and Naturalization Service (the "INS") or the United
States Department of Labor (the "DOL") of the disapproval or denial of any
visa petition pending before the INS or labor certification pending before
the DOL on behalf of any employee or prospective employee of the Company
or the Seller (to the extent relating to employees of the Business
Strategy Group).
(c) Section 2.19(c) of the Disclosure Schedule contains a true,
complete and accurate list of all non-immigrant or immigrant visa
petitions pending before the INS and labor certifications pending before
the DOL on behalf of any of the employees or prospective employees of the
Company or the Seller (to the extent relating to employees of the Business
Strategy Group).
(d) Since the approval of each of their respective visa petitions,
there has been no material change in the terms and conditions of
employment of any employees of the Company or the Seller (to the extent
relating to employees of the Business Strategy Group), provided that it is
acknowledged that certain employees from time to time unilaterally breach
the terms of their employment with the Company or the Seller.
2.20. Transactions with Affiliates. Except as set forth in Section 2.20 of
the Disclosure Schedule, neither the Seller nor any other Affiliate of the
Company or the Subsidiaries has any Indebtedness to or from the Company or the
Subsidiaries. Since January 1, 1999, no transaction has occurred or was
continuing that would require disclosure under Item 404 of Regulation S-K of the
federal securities laws by the Company, if the Company were subject to such
item.
2.21. Brokers. No broker, finder or investment banker (other than XX Xxxxx
Securities Corporation, the fees and expenses of whom will be paid by the
Seller) is entitled to any brokerage, finder's or other fee or commission in
connection with the transactions contemplated by this Agreement based upon
arrangements made by or on behalf of the Company, the Business Strategy Group or
the Subsidiaries, the Seller or their Affiliates. Notwithstanding the foregoing,
at the Closing, and only in the event of the consummation of the Closing by the
parties hereto, the Company will make a cash payment to the Buyer equal to the
reasonable fees and expenses incurred by the Buyer, its Affiliates and their
advisors, including legal counsel, which fees and expenses shall include a
transaction fee equal to $1,860,853 to Xxxxxxx Capital; provided, that in no
event shall Seller have any liability with respect to such payment to Buyer or
Xxxxxxx Capital, and if the Closing is not consummated for any reason
whatsoever, neither the Seller nor the Company shall have any liability with
respect to such payments to Buyer and Xxxxxxx Capital.
2.22. Change in Control Payments. Neither the Company nor Subsidiaries nor
the Seller have any plans, programs or agreements to which they are parties, or
to which they are subject, pursuant to which payments by the Company or
Subsidiaries may be required, or acceleration of benefits to be paid by the
Company or Subsidiaries may be required upon consummation of the sale of all of
the Shares.
2.23. Accounts Receivable; Accounts Payable.
(a) All of the accounts receivable of the Company, the Business
Strategy Group and the Subsidiaries are reflected properly on their books
and records in accordance with GAAP, are valid receivables, arose from
bona fide transactions in the ordinary course of business and, except as
reflected in accounts payable on the Most Recent Balance Sheet, are
subject to no known set off or counterclaim except as set forth in the
allowance for doubtful accounts stated in the Most Recent Balance Sheet in
accordance with GAAP, which allowance, is a reasonable estimate, in
accordance with GAAP, of the uncollectible accounts of the Company, the
Business Strategy Group and the Subsidiaries. Since the date of the Most
Recent Balance Sheet, each of the Company, the Business Strategy Group and
the Subsidiaries has collected its accounts receivable in the ordinary
course of business and in a manner which is consistent with past
practices. Neither the Company nor the Subsidiaries has any accounts
receivable or loans receivable from the Seller or any of Seller's
subsidiaries (other than the Company or its Subsidiaries).
(b) Except as set forth in Section 2.23(b) of the Disclosure
Schedule, all accounts payable and notes payable of the Company, the
Business Strategy Group and the Subsidiaries arose in bona fide
transactions in the ordinary course of business and no such account
payable or note payable is delinquent by more than 60 days in its payment
as of the date hereof. Since the date of the Most Recent Balance Sheet,
each of the Company, the Business Strategy Group and the Subsidiaries has
paid its accounts payable in the ordinary course of business and in a
manner which is consistent with past practices. Except as set forth on
Section 2.23(b) of the Disclosure Schedule, neither the Company nor the
Subsidiaries has any account payable to Seller or any of Seller's
subsidiaries (other than the Company or its Subsidiaries).
2.24. Warranty and Related Matters. Section 2.24 of the Disclosure
Schedule sets forth a complete list of all outstanding contractual product and
service warranties, rights of return, guarantees on any of the products or
services provided by the Business Strategy Group that either of the Seller, the
Company or the Subsidiaries distribute, services, markets, sells or produces for
itself, a customer or a third party, other than implied warranties that the
Seller, the
Company or Subsidiaries will perform services specified (each such product or
service shall be referred to herein as a "Company Product"). Except as set forth
in Section 2.24 of the Disclosure Schedule, there are no existing or, to the
knowledge of the Seller, threatened in writing, product liability, warranty or
other similar claims against the Seller, the Company or the Subsidiaries
alleging that any Company Product fails to meet any such product or service
warranties except as set forth in Section 2.24 of the Disclosure Schedule.
Except as set forth in Section 2.24 of the Disclosure Schedule, neither the
Seller, the Company nor the Subsidiaries is obligated to return, credit or
reduce any portion of any consideration paid with respect to any Company
Product.
2.25. Corporate Records; Copies of Documents. The corporate record books
of each of the Company and the Subsidiaries and the statutory books of the
Subsidiaries accurately reflect all corporate action taken by their stockholders
and board of directors and committees. The copies of the corporate records of
the Company and the Subsidiaries and the statutory books of the Subsidiaries, as
made available to the Buyer for review, are true and complete copies of the
originals of such documents. The Seller has made available for inspection and
copying by the Buyer and its counsel true and correct copies of all documents
referred to in this Agreement or in the Disclosure Schedule delivered to the
Buyer pursuant to this Agreement. All material accounts, documents and returns
required by Law to be delivered or made to the Registrar of Companies in the
United Kingdom or any other authority in connection with the Subsidiaries have
been duly and correctly delivered and made.
2.26. Customers. Section 2.26 of the Disclosure Schedule sets forth the
name of each customer of the Business Strategy Group which accounts for more
than $250,000 in sales of the Business Strategy Group on a consolidated basis
for the eleven (11) months ended November 30, 1999 (each, a "Customer"). Since
January 1, 1999, no Customer has given the Company written notice terminating,
or that it intends to terminate, its relationship with the Company as a result
of such Customer's dissatisfaction with the Company's performance of its
obligations.
2.27. Customer Intentions. No Customer has, to the knowledge of Seller
(including based on the letter dated January 27, 2000 from Xxxx Xxxxxxx to the
Seller), any plan or intention to terminate, cancel or otherwise materially and
adversely modify its relationship with the Company, the Subsidiaries or the
Business Strategy Group or to decrease materially or materially limit its usage,
purchase or distribution of any product delivered by the Company.
2.28. Year 2000. The Seller, the Company and the Subsidiaries have taken
all commercially reasonable efforts to ensure that all computer products that
are owned by either the Company or the Subsidiaries, exclusively licensed to
either the Company or the Subsidiaries, licensed, sold or otherwise distributed
to others by the Company or the Subsidiaries or are otherwise required for the
conduct of the Business Strategy Group, including, without limitation,
microprocessors ("Software"), are Year 2000 Compliant. No claims have been
asserted or threatened to the Seller, the Company or the Subsidiaries in
writing, that the Software is not Year 2000 Compliant. As used herein, "Year
2000 Compliant" shall mean with respect to any such Software, the ability of
such Software to perform the following date-related functions, as
applicable: (i) consistently and properly interpret date information before,
during and after January 1, 2000, including, but not limited to, accepting date
input, providing date output and performing calculations on dates or portions of
dates; (ii) function accurately in accordance with the documentation relating to
the applicable software and without interruption before, during and after
January 1, 2000, without any change in operations associated with the advent of
the new century; (iii) respond to two-digit date input in a way that resolves
any ambiguity as to the century; and (iv) store and provide output of date
information in ways that are unambiguous as to century.
2.29. Employees of the Business Strategy Group. Section 2.29 of the
Disclosure Schedule lists all employees of the Business Strategy Group.
2.30. Full Disclosure. No representation or warranty made by the Seller or
the Company contained in this Agreement and no statement contained in any
certificate or schedule furnished or to be furnished by Seller or the Company to
Buyer in, or pursuant to the provisions of, this Agreement, including without
limitation the Disclosure Schedule, when considered with all such
representations, warranties and statements contains or shall contain any untrue
statement of a material fact or omits or will omit to state any material fact
necessary, in the light of the circumstances under which it was made, in order
to make statements herein or therein not misleading.
3. REPRESENTATIONS AND WARRANTIES OF BUYER
Buyer hereby represents and warrants to the Seller that:
3.1. Organization and Qualification. Buyer is a corporation duly
organized, validly existing and in good standing under the laws of the
jurisdiction of its incorporation.
3.2 Authority Relative to this Agreement. Buyer has all necessary
corporate power and authority to execute and deliver this Agreement and to
perform its obligations hereunder and to consummate the transactions
contemplated hereby. The execution and delivery of this Agreement by Buyer and
the consummation by Buyer of the transactions contemplated hereby have been duly
and validly authorized by all necessary corporate action on the part of Buyer,
and no other corporate proceedings on the part of Buyer are necessary to
authorize this Agreement or to consummate the transactions contemplated thereby.
This Agreement has been duly and validly executed and delivered by Buyer and,
assuming the due authorization, execution and delivery by the Seller,
constitutes a legal, valid and binding obligation of Buyer enforceable against
it in accordance with its terms.
3.3 No Conflict, Required Filings and Consents.
(a) The execution and delivery of this Agreement by Buyer does not,
and the performance of this Agreement by Buyer will not, and the
consummation of the
transactions contemplated hereby will not, (i) conflict with or violate
the Articles of Organization (or Certificate of Incorporation) or By-Laws
of Buyer, (ii) conflict with or violate any Laws applicable to Buyer or by
which its properties are bound or affected, or (iii) result in any breach
of or constitute a default (or an event which with notice or lapse of time
or both would become a default) under, or impair Buyer's rights or alter
the rights or obligations of any third party under, or give to others any
rights of termination, amendment, acceleration or cancellation of, or
result in the creation of a Lien on any of the properties or assets of
Buyer pursuant to, any note, bond, mortgage, indenture, contract,
agreement, lease, license, permit, franchise or other instrument or
obligation to which Buyer is a party or by which Buyer or its properties
are bound or affected, except in any such case for any such conflicts,
violations, breaches, defaults or other occurrences that would not
reasonably be likely to materially delay or prevent the consummation of
the transactions contemplated hereby.
(b) The execution and delivery of this Agreement by Buyer does not,
and the performance of this Agreement by Buyer will not, require any
consent, approval, authorization or permit of, or filing with or
notification to, any federal, foreign, state or provincial governmental or
regulatory authority to be obtained or made by Buyer, except (i) for the
pre-merger notification requirements of the HSR Act, and (ii) where the
failure to obtain such consents, approvals, authorizations or permits, or
to make such filings or notifications, would not reasonably be likely to
materially delay or prevent the consummation of the transactions
contemplated hereby.
3.4. Brokers. No broker, finder or investment banker is entitled to any
brokerage, finder's or other fee or commission in connection with the
transactions contemplated by this Agreement based upon arrangements made by or
on behalf of the Buyer or its Affiliates. Notwithstanding the foregoing, at the
Closing, and only in the event of the consummation of the Closing by the parties
hereto, the Company will make a cash payment to the Buyer equal to the
reasonable fees and expenses incurred by the Buyer, its Affiliates and their
advisors, including legal counsel, which fees and expenses shall include a
transaction fee equal to $1,860,853 payable to Xxxxxxx Capital; provided, that
in no event shall Seller have any liability with respect to such payment to
Buyer or Xxxxxxx Capital, and if the Closing is not consummated for any reason
whatsoever, neither the Seller nor the Company shall have any liability with
respect to such payments to Buyer and Xxxxxxx Capital.
3.5. Investment Intent. Buyer is acquiring the Shares for its own account
and not with a view to their distribution within the meaning of Section 2(11) of
the Securities Act. Buyer confirms that Seller has made available to Buyer and
its representatives and agents the opportunity to ask questions of the officers
and other management employees of the Company and Subsidiaries and to acquire
such additional information about the business and financial condition of the
Company and Subsidiaries as Buyer has requested, and all such information has
been received; provided, however, that nothing contained in the foregoing
confirmation by Buyer
shall affect the liability of the Seller or the Company for any breach of the
representations and warranties made by them in Section 2 hereof.
4. COVENANTS OF THE PARTIES.
4.1. Conduct of Business Prior to Closing. Each of the Seller and the
Company covenants and agrees that, during the period from the date of this
Agreement and continuing until the earlier of the termination of this Agreement
or the Closing Date, unless Buyer shall otherwise agree and except as otherwise
contemplated by this Agreement or the Disclosure Schedule, the Company shall and
shall cause the Subsidiaries to and Seller and the Company shall cause the
Business Strategy Group to:
(i) conduct its business and the businesses of Subsidiaries, taken
as a whole, in the ordinary course of business consistent with past
practice and
(ii) use reasonable commercial efforts to preserve substantially
intact the business organization of the Company and Subsidiaries
taken as a whole or the Business Strategy Group, to keep available
the services of the present key officers, employees and consultants
of the Company and Subsidiaries taken as a whole or the Business
Strategy Group and to preserve the present relationships of the
Company, the Subsidiaries and the Business Strategy Group with
customers, partners, suppliers and other persons with which the
Company, the Subsidiaries or the Business Strategy Group have
significant business relations. By way of amplification and not
limitation, except as contemplated by this Agreement or the
Disclosure Schedule, neither the Seller, the Company, the Business
Strategy Group nor the Subsidiaries shall, during the period from
the date of this Agreement and continuing until the earlier of the
termination of this Agreement or the Closing Date, directly or
indirectly do, or propose to do, any of the following without the
prior written consent of Buyer:
(a) increase the compensation (including bonuses) payable on or
after the date hereof, or to become payable on or after the Closing, to
any employee, consultant or independent contractor of the Company, the
Business Strategy Group or Subsidiaries;
(b) enter into or perform any transactions with their Affiliates or
other transactions other than on an arms length basis and in the ordinary
course of business;
(c) declare or pay any dividends, issue, purchase or redeem any
shares of its capital stock or any convertible securities into or
exchangeable for any of its capital stock, or make any other distributions
to its shareholders;
(d) grant any options or other rights to purchase or obtain
(including upon conversion, exchange or exercise) any of its capital
stock;
(e) incur, assume, or guaranty any liabilities or Indebtedness of
any kind other than Indebtedness which is incurred in the ordinary course
of business;
(f) amend the Company's Certificate of Incorporation or By-Laws or
the Subsidiary Documents;
(g) make any purchase, sale or disposition of any asset or property
other than in the ordinary course of business, purchase any capital assets
costing more than $50,000 and mortgage, pledge, subject to a Lien or
otherwise encumber any of its assets other than in the ordinary course of
business;
(h) change any of its accounting methods, principles or practices,
collection policies, pricing policies; or
(i) amend, modify or terminate any Contract or waive any of its
rights thereunder.
4.2. Exclusivity. Except as described in Section 4.2 of the Disclosure
Schedule, the Company, Subsidiaries and the Seller will not:
(a) directly or indirectly, through any officer, director, employee,
agent (including financial advisors), partner or otherwise, continue,
solicit, participate in, initiate, or encourage discussions or
negotiations with, or the submission of bids, offers or proposals by any
Person with respect to an acquisition of the Company, any of the
Subsidiaries, the Business Strategy Group, any interest therein, any of
its material assets, or a sale of any of its outstanding stock, other than
Xxxxxxx Capital; or
(b) directly or indirectly, through any officer, director, employee,
agent (including financial advisors), partner or otherwise, participate in
any discussions or negotiations regarding, furnish any information with
respect to, assist or participate in, or facilitate in any other manner,
any effort or attempt by any Person to do or seek any of the foregoing.
4.3. HSR Act. Each of the Seller and the Buyer represents to the other
that it has filed notifications under and in accordance with the HSR Act in
connection with the transactions contemplated hereby on or before December 27,
1999. Each of the Seller and Buyer agrees to respond as promptly as practicable
to any inquiries received from the Federal Trade Commission and the Antitrust
Division of the Department of Justice for additional information or
documentation and respond as promptly as practicable to all inquiries and
requests received from any State Attorney General or other governmental
authority in connection with antitrust matters.
4.4. Access to Information; Confidentiality. Upon reasonable notice and
subject to restrictions contained in confidentiality agreements to which such
party is subject (from which such party shall use reasonable efforts to be
released), the Seller shall (and shall cause the Company and Subsidiaries to)
afford to the officers, employees, accountants, counsel and other
representatives of the Buyer, reasonable access, during the period prior to the
Closing Date, to all of the properties, books, contracts, commitments and
records of the Company and the Subsidiaries and, during such period, the Seller
shall (and shall cause the Company and Subsidiaries to) furnish promptly to the
Buyer all information concerning the business, properties and personnel of the
Company and the Subsidiaries as the Buyer may reasonably request, and shall make
available to the Buyer the appropriate individuals (including attorneys,
accountants and other professionals) for discussion of the business, properties
and personnel of the Company and the Subsidiaries as the Buyer may reasonably
request. Buyer shall keep such information confidential in accordance with the
terms of the non-disclosure letter, dated September 30, 1999 (the
"Confidentiality Letter"), between the Buyer and the Seller.
The Seller and the Company shall, and the Company shall cause the
Subsidiaries and their respective officers, directors, agents and
representatives, to keep any confidential information or proprietary data or
information obtained from the Buyer or any of its Affiliates with respect to
their business or financial condition in accordance with the Confidentiality
Letter. The Seller's obligation set forth in the preceding sentence shall
survive the Closing.
4.5. Consents; Approvals. The Buyer, the Seller and the Company shall each
use reasonable efforts to obtain all consents, waivers, approvals,
authorizations or orders (including, without limitation, all United States and
foreign governmental and regulatory rulings and approvals), and the Buyer, the
Seller and the Company shall make all filings (including, without limitation,
all filings with United States and foreign governmental or regulatory agencies)
required in connection with the authorization, execution and delivery of this
Agreement by the Buyer, the Seller and the Company and the consummation by them
of the transactions contemplated hereby, in each case as promptly as
practicable. The Buyer, the Seller and the Company shall furnish promptly all
information required for any application or other filing to be made pursuant to
the rules and regulations of any United States or foreign governmental body in
connection with the transactions contemplated by this Agreement.
4.6. Public Announcements. The Buyer and the Seller shall consult with
each other before issuing any press release with respect to this Agreement and
shall not issue any such press release or make any such public statement without
the prior consent of the other party, which shall not be unreasonably withheld;
provided, however, that a party may, without the prior consent of the other
party, issue such press release or make such public statement as may upon the
advice of counsel be required by law or the rules and regulations of the Nasdaq
National Market System, if it has used all reasonable efforts to consult with
the other party prior thereto.
4.7. Non-Competition; Non-Solicitation. For a period of eighteen (18)
months after the Closing Date, (the "Non-Compete Period"), neither Seller nor
any of its direct or indirect
subsidiaries shall provide Business Strategy Services (as defined below) to any
customer. For the purposes of this Section 4.7, "Business Strategy Services"
shall mean business strategy development and implementation consulting services
in the telecommunications and computing sectors at the senior executive or board
level, which are substantially similar to those which have been provided by the
Business Strategy Group at any time prior to the Closing Date. Notwithstanding
the previous sentence, "Business Strategy Services" shall not include (i) any
services relating to information system design, information system analysis,
information technology strategy, or consulting services relating to use of
information technology in e-commerce applications or the use of Internet-based
applications in business operations, or (ii) services with respect to the
Renaissance Balanced Scorecard or a derivative thereof, Knowledge Management or
any other consulting services which are technology specific, in each case, which
have been provided or proposed by Seller or its direct or indirect subsidiaries
(other than the Company, the Subsidiaries or the Business Strategy Group) prior
to the Closing Date. For a period of one year after the Closing Date, the Seller
shall not, and shall cause its direct or indirect subsidiaries not to, either
directly or indirectly as a stockholder, investor, partner, director, officer,
employee or otherwise, solicit or attempt to induce any person employed or
engaged as an independent contractor by the Company, the Subsidiaries or the
Business Strategy Group as of the Closing Date to terminate his or her
employment or engagement as an independent contractor with the Buyer, the
Company, the Subsidiaries or the Business Strategy Group. For a period of one
year after the Closing Date, the Company and the Subsidiaries shall not, either
directly or indirectly as a stockholder, investor, partner, director, officer,
employee or otherwise, solicit or attempt to induce any person employed or
engaged as an independent contractor by the Seller or its direct and indirect
subsidiaries (other than the Company) as of the Closing Date to terminate his or
her employment or engagement as an independent contractor with the Seller or any
Affiliate of Seller.
4.8. Business Records. The Buyer acknowledges that the Seller may from
time to time from and after the Closing require access to copies of certain of
the Company's books and records when reasonably required, and agrees that, for
two years following the Closing Date, upon reasonable prior notice from the
Seller, it will, and will ensure that the Company and Subsidiaries will, during
normal business hours, provide the Seller with either access to or copies of
their books and records. The Buyer agrees that it, for two years following the
Closing Date, will ensure that the Company does not discard or destroy any of
its books and records prepared prior to the Closing Date except in the ordinary
course of business and after reasonable notice to the Seller. In such
circumstances, Seller shall have the right, at its expense, to remove and retain
any of such books and records as Seller may select. The Seller acknowledges that
the Buyer may from time to time from and after the Closing require access to
copies of certain of the Seller's books and records and access to certain
employees of the Seller when reasonably required for information with respect to
the Company or the Subsidiaries, including any financial information, and agrees
that for two years following the Closing Date upon reasonable prior notice from
the Buyer, it will, during normal business hours, provide the Buyer with access
to or copies of such books and records and will use commercially reasonable
efforts to make available certain employees of the Seller.
4.9. Tax Matters.
(a) Tax Returns. The Seller shall be responsible for preparing and
filing the Tax Returns of, or which include, the Company or Subsidiaries
for taxable periods ending on or before the Closing Date and shall be
responsible for the payment of any Tax due thereon. Seller will include
the income of the Company on its consolidated Federal Income Tax Return
for all periods through the Closing Date.
The Buyer shall be responsible for preparing and filing the Tax
Returns of, or which include, the Company or Subsidiaries for any taxable
period covering days before and after the Closing Date and shall be
responsible for the payment of any Tax due thereon. The Seller shall have
the right to review and comment on all such Tax Returns, which Tax Returns
shall be prepared in a manner consistent with past practice. The Seller
shall promptly reimburse the Buyer for the amount of Tax due with such Tax
Returns attributable to the Company and Subsidiaries for the period
through and including the date of the Closing.
The Buyer shall be responsible for preparing and filing the Tax
Returns of, or which include, the Company or Subsidiaries for all taxable
periods beginning after the Closing Date and shall be responsible for the
payment of all Taxes due thereon.
(b) Tax Refunds. The Seller shall be entitled to all refunds of Tax
of the Company and Subsidiaries for periods (including portions thereof)
through the Closing Date except for refunds attributable to carrybacks
from periods (including portions thereof) beginning after the Closing Date
and required by law. If the Buyer, the
Company or Subsidiaries receive any refund to which the Seller is
entitled, the Buyer shall promptly pay (or cause the Company or relevant
Subsidiaries to pay) the entire amount of such refund (including interest)
to the Seller.
(c) Tax Indemnities. The Seller shall indemnify and hold the Buyer,
the Company and Subsidiaries harmless from any loss or liability that
Buyer, the Company or the Subsidiaries suffer arising out of any liability
(primary or secondary) for Taxes of any of the Company or Subsidiaries
attributable to periods through and including the date of the Closing. The
Seller shall also indemnify and hold the Buyer, the Company and
Subsidiaries harmless against all liability for Taxes of any affiliated or
connected group of which the Company or the Subsidiaries were members at
any time prior to the Closing Date imposed on the Company or Subsidiaries
by Section 1.1502-6 of the Treasury Regulations or any state, local or
foreign law, by contract or otherwise (other than Taxes of the Company or
the Subsidiaries for periods after the Closing Date).
The Buyer shall indemnify and hold the Seller harmless from all
deficiencies in Tax of the Company or Subsidiaries attributable to all
periods or portions thereof beginning on or after the day after the date
of the Closing and for all Taxes resulting from any action taken outside
the ordinary course of business without the Seller's written consent by
the Buyer, the Company or Subsidiaries on the Closing Date after the
Closing (unless contemplated by this Agreement).
For purposes of this Section 4.9, the Taxes attributable to the
period through the Date of the Closing and to the period beginning on the
following day shall be determined (i) as if those periods were separate
taxable years, and (ii) except as otherwise required by law, by using the
Tax accounting methods and Tax elections used by the Company or relevant
Subsidiaries before the Closing Date.
(d) Section 338(h)(l0) Election. If requested by the Buyer, the
Buyer and Seller shall join in an election under Section 338(h)(10) of the
Code (and any similar elections under state or local law) with respect to
the Company. In connection with such an election:
(A) The Seller shall prepare and file the income Tax Returns
for, be responsible for the payment of, indemnify and hold the Buyer
and each corporation which is subject to the election harmless from,
and be entitled to any refund of any federal, state or local income
Taxes resulting from the election (and any corresponding election
under state or local law), including Taxes in any jurisdiction that
does not have an election similar to Code Section 338(h)(10).
(B) The Buyer and the Seller shall cooperate in determining
the deemed sales price of the assets of the Company and the
allocation of the deemed sales price among the assets of the Company
for purposes of Section 338(h)(10)
of the Code in accordance with all applicable Treasury Regulations
promulgated under Section 338 of the Code.
(C) The Buyer and the Seller shall timely execute and file
Form 8023 (or any successor form) and any documents that may be
required under any applicable law, rule or regulation for such
election (or any corresponding election under state law, rule or
regulation) to be effective for federal and state income tax
purposes.
(e) Transfer Taxes. The Buyer and the Seller each agree to pay
one-half of any sales, use, transfer, stock transfer or withholding or
like Taxes related to the transfer of the Shares and the deemed sale of
assets resulting from any Section 33 8(h)(10) election.
(f) Cooperation and Control of Tax Disputes. The Buyer agrees to
cooperate and to cause the Company and Subsidiaries to cooperate with the
Seller to the extent reasonably required after the Closing Date in
connection with (i) the filing, amendment, preparation and execution of
all Tax Returns with respect to any taxable period of the Company or
Subsidiaries ending on or before the Closing Date, (ii) contests
concerning Taxes due for any such period and (iii) audits and other
proceedings conducted by Tax authorities with respect to any such period.
Within a reasonable time (but not more than 10 business days) after the
Buyer, the Company or Subsidiaries receives official notice of any such
contest, audit or other proceeding, the Buyer shall notify or cause the
Company to notify the Seller in writing of such contest, audit or other
proceeding. In any case where the Company or Subsidiaries is responsible
under applicable law for the defense of such contest, audit or other
proceeding, the Seller shall have the right to conduct the defense at its
expense, whether such contest, audit or other proceeding commenced before
or commences after the Closing, provided that the Seller conducts such
defense in good faith and in a diligent manner. Notwithstanding the
Seller's obligations under the preceding provisions of this Section 4.9,
the Seller shall have no obligation to pay or to indemnify or hold the
Buyer, the Company or Subsidiaries harmless from any tax imposed or
assessed as a result of (i) the failure of the Buyer or the Company to
notify the Seller as required by this paragraph, if such failure adversely
affects the Seller's ability to respond adequately in a timely manner to
the notice of contest, audit or other proceeding, or (ii) any action taken
by the Buyer, the Company or Subsidiaries with respect to any such
contest, audit or other proceeding without the Seller's written consent
(which shall not be unreasonably withheld).
No loss, credit or other item of the Company or Subsidiaries may be
carried back without the Seller's written consent, which the Seller may
withhold in its sole and absolute discretion, to a taxable period for
which the Seller or any Subsidiaries of the Seller filed a consolidated,
unitary or combined Tax Return with the Company or Subsidiaries unless
such carryback is required by law. The Seller shall promptly pay
over to the Buyer the amount of any refund (including interest) received
as a result of such a permitted carryback but may retain any refund
(including interest) resulting from a carryback not so permitted.
The Seller agrees to cooperate with the Buyer, and the Buyer agrees
to cooperate (and cause the Company and Subsidiaries to cooperate) with
the Seller, to the extent necessary in connection with the filing of any
information return or similar document relating to the Buyer's acquisition
of the Company. The parties agree to cooperate with each other to the
extent reasonably required in connection with the preparation of Tax
Returns of the Company or the Subsidiaries following the Closing.
(g) Termination of Tax-Sharing Agreement. After the Closing, this
Section 4.9 shall supersede any and all tax-sharing or similar agreements
to which (i) the Company or Subsidiaries, and (ii) the Seller or any of
its subsidiaries are parties and the Company, Subsidiaries, the Seller and
its subsidiaries shall thereafter have no obligations or rights under any
such prior agreement. Seller will cause any such agreements to be
terminated on or before the Closing Date.
(h) Dispute Resolution. If the Seller and the Buyer do not agree as
to any question which arises under this Section 4.9, either of them, after
giving written notice to the other, may refer the question to
PricewaterhouseCoopers LLP ("PWC") for resolution. After giving each party
an opportunity to present its position, PWC shall within 45 days after
such referral decide the question. The decision of PWC shall be final and
shall bind both parties. PWC's fees shall be borne equally by the Seller
and the Buyer.
4.10. Use of Names. The Buyer and the Company will not, and will cause
their affiliates not to, use the trade names or marks "Renaissance,"
"Renaissance Worldwide" or "COBA Consulting" or any trade names or marks that
include, or are confusingly similar to, any such marks in connection with
providing services that are substantially similar to those provided by the
Company or Seller on the date hereof. Notwithstanding the foregoing, Seller
shall license to the Company, pursuant to a license agreement substantially in
the form of Exhibit F, the right to use the names "Renaissance Worldwide
Strategy," "Renaissance Strategy," "Renaissance Strategy Worldwide" and
"Business Strategy Group" for the periods set forth in such license agreement.
In each case the foregoing names shall be used solely in connection with the
provision of strategic consulting services substantially similar to those
provided by the Company and the Subsidiaries on the date hereof.
4.11. Assignment of Intellectual Property.
(a) The Company shall transfer and assign to the Seller certain
intellectual property pursuant to an Assignment of Rights in Trademarks,
Service Marks and Trade Names in substantially the form attached hereto as
Exhibit A-1. COBA Consulting Ltd. shall transfer and assign to the Seller
or a subsidiary of the Seller certain intellectual
property pursuant to an Assignment of Rights in Trademarks, Service Marks
and Trade Names in substantially the form attached hereto as Exhibit A-2.
(b) The Seller shall use commercially reasonable efforts to assign
to the Company or the Subsidiaries the rights, subject to the obligations,
under agreements listed in Section 4.11 of the Disclosure Schedule to the
extent relating to the operation of the business of the Company and the
Subsidiaries and the Business Strategy Group.
(c) The Seller hereby agrees and acknowledges that it shall have no
right or interest in any (i) press quotes in global business press
attributable solely to the Business Strategy Group and/or one of its
executives, (ii) newsletters or articles related solely to the Business
Strategy Group business and authored solely by employees of the Business
Strategy Group, (iii) product/methodology brochures or pamphlets related
solely to the Business Strategy Group business (collectively, the "BSG
Documents"); provided, that the term BSG Documents does not include (A)
any documents relating to information system design, information system
analysis, information technology strategy, or consulting services relating
to use of information technology in e-commerce applications or the use of
Internet-based applications in business operations, or (B) documents with
respect to the Renaissance Balanced Scorecard or a derivative thereof,
Knowledge Management or any other consulting services which are technology
specific, in each case, which have been provided or proposed by Seller or
its direct or indirect subsidiaries (other than the Company, the
Subsidiaries or the Business Strategy Group) prior to the Closing Date;
and (iv) client or customer reports or other documents related to the
Business Strategy Group business authored solely by employees of the
Business Strategy Group for clients or customers of the Business Strategy
Group in the conduct of the Business Strategy Group business. In
connection with the foregoing, the Seller, as of the Closing, hereby
transfers and assigns to the Company all of its right, title and interest
in the BSG documents.
4.12. Leases.
(a) The Company and the Subsidiaries or their respective Affiliates
are currently parties to or may have certain residual liabilities or other
obligations (including as a sub-lessor, guarantor, assignor or an
indemnifying party) with respect to the leases set forth in Section
4.12(a) of the Disclosure Schedule (collectively, the "Non-BSG Leases").
The parties hereto acknowledge and agree that the Seller will use
commercially reasonable efforts to transfer any obligations of the Company
and the Subsidiaries with respect to the Non-BSG Leases, or use
commercially reasonable efforts to cause such obligations to be
transferred, from the Company and the Subsidiaries.
(b) The Company and the Seller will cooperate to arrange for the
assignment of the lease listed in Section 4.12(b) of the Disclosure
Schedule at (i) current prices and (ii) on terms and conditions set forth
in the current lease. Seller will use commercially reasonable efforts to
obtain any landlord consents necessary in connection with this Section
4.12(b). Buyer agrees to indemnify Seller for any costs associated with
the lease pursuant to this Section 4.12(b) after the Closing; provided
that in the event that (i) the
landlord does not consent to the assignment of the lease listed in Section
4.12(b) and (ii) the Buyer is not able to continue to use the property
subject to such lease (the date that Buyer is no longer able to use the
property, the "Eviction Date"), Buyer shall not indemnify Seller for any
of such costs arising after the Eviction Date.
(c) Seller will use commercially reasonable efforts to allow Buyer
to continue to use, consistent with past practice until December 31, 2000
or, if earlier, the expiration of the lease term, the space it currently
occupies in connection with the leases listed in Section 4.12(c) of the
Disclosure Schedule, and Buyer will pay Seller for such use in the amounts
indicated in Section 4.12(c) of the Disclosure Schedule.
4.13. Bonus Repayment. In addition to amounts payable pursuant to Section
1.3 hereof, on or before March 15, 2000, the Company shall, and the Buyer shall
cause the Company to, pay to Seller $1,809,450.24 to reimburse the Seller for
amounts advanced by Seller (plus applicable social security, unemployment and
Medicare payments) to the employees of the Company listed in Section 4.13 of the
Disclosure Schedule during December 1999 and February 2000 to fund the payment
of performance bonuses with respect to 1999.
4.14. Notice of Default.
(a) Promptly upon the Seller becoming aware prior to the Closing of
any event which constitutes a breach or default, or would have caused or
constituted a breach or default had such event occurred or been known to
the Seller or the Company prior to the date hereof, of any of the
representations, warranties or covenants of the Seller or the Company
contained in or referred to in this Agreement, the Disclosure Schedule or
in any Exhibit referred to in the Agreement, the Seller or the Company
shall give detailed written notice thereof to the Buyer and the Seller.
(b) Promptly upon the Buyer becoming aware prior to the Closing of
any event which constitutes a breach or default, or would have caused or
constituted a breach or default had such event occurred or been known to
the Buyer prior to the date hereof, of any of the representations,
warranties or covenants of the Buyer contained in or referred to in this
Agreement, the Disclosure Schedule or in any Exhibit referred to in the
Agreement, the Buyer shall give detailed written notice thereof to the
Seller and the Company.
4.15. Provision of Employees. For one year after Closing, the Seller shall
continue to make employees and independent contractors available to the Company
consistent with past practice of charging market rates, to the extent available.
The Seller shall use commercially reasonable efforts to make the employees
and/or independent contractors of the Seller or its subsidiaries set forth in
Section 4.15 of the Disclosure Schedule available to the Company through the
dates set forth on such schedule and at historical costs.
4.16. Equipment Leases. Pursuant to the Transition Services Agreement
substantially in the form of Exhibit E hereto, the Company and the Seller will
cooperate to arrange for the assignment or buy-out of the leases used by the
Business Strategy Group and listed in
Section 2.14 of the Disclosure Schedule (the "BSG Equipment Leases") at current
prices reflected in the existing leases. Seller will use commercially reasonable
efforts to obtain any lessor consents necessary in connection with this Section
4.16. Buyer agrees to indemnify Seller for any costs associated with the leases
to the extent listed in Section 2.14 of the Disclosure Schedule pursuant to this
Section 4.16 after the Closing Date. In the event that the BSG Equipment Leases
cannot be assigned to the Buyer, the Buyer will use commercially reasonable
efforts to buy-out the BSG Equipment Leases.
4.17. Dissolutions and Distributions. The parties hereto acknowledge that
the Seller, the Company and the Subsidiaries have dissolved or liquidated or are
in the process of dissolving or liquidating the entities set forth on Section
4.17(a) of the Disclosure Schedule or have distributed or are distributing any
interest of the Company or the Subsidiaries in the entities set forth on Section
4.17(b) of the Disclosure Schedule (such entities set forth under Sections
4.17(a) and 4.17(b) of the Disclosure Schedule are collectively referred to as
the "Distributed Entities").
4.18. Indebtedness between Seller and Company. The Seller and the Company
shall cancel any intercompany debt on or prior to the Closing, other than any
debt created by Sections 1.3 or 4.13 hereof; by the covenants of the parties
hereto or the Transition Services Agreement attached hereto as Exhibit E.
4.19. Transfer of Litigation. The parties hereby acknowledge and agree
that by March 10, 2000, the Company shall transfer and assign all of its rights
with respect to the litigation referenced in Section 2.11 of the Disclosure
Schedule (the "Transferred Litigation") pursuant to the Assignment Agreement.
4.20. Payment. Seller shall make the payments in the aggregate amount of
$975,000 called for by the letter dated February 4, 2000 from Seller to Xxxx
Xxxxxxx when such payments are due pursuant to such letter.
4.21. Certain Accounts. The Seller shall use commercially reasonable
efforts to cause its lender to enter into arrangements with the Buyer's senior
lender for this transaction clarifying the Buyer's senior lender's priority with
respect to any cash received by the Seller's lender for the account of the
Business Strategy Group, the Company or the Subsidiaries.
5. CONDITIONS PRECEDENT TO THE OBLIGATIONS OF EACH PARTY. The respective
obligations of each party to consummate the transactions contemplated hereby are
subject to the satisfaction on or prior to the Closing Date of each of the
following conditions:
5.1. HSR Act. The waiting period applicable to the consummation of the
purchase and sale of the Shares under the HSR Act shall have expired or been
terminated.
5.2. No Injunctions or Restraints, illegality. No temporary restraining
order, preliminary or permanent injunction or other order issued by any court of
competent jurisdiction or other legal restraint or prohibition preventing the
consummation of the purchase and sale of the Shares or any of the other
transactions contemplated by this Agreement shall be in effect, nor
shall any proceeding brought by any administrative agency or commission or other
governmental authority or instrumentality, domestic or foreign, seeking any of
the foregoing be pending; and there shall not be any action taken, or any Law
enacted, entered, enforced or deemed applicable to the purchase and sale of the
Shares or any other aspect of this Agreement, which makes the consummation of
the transactions contemplated herein illegal.
6. ADDITIONAL CONDITIONS PRECEDENT TO THE OBLIGATIONS OF THE BUYER. The
obligations of the Buyer to purchase the Shares and to consummate the other
transactions contemplated hereby is subject to the satisfaction on or prior to
the Closing Date of each of the following conditions:
6.1. Representations and Warranties. The representations and warranties of
the Seller and the Company contained in this Agreement shall be true and correct
(i) in all material respects, in the case of those representations and
warranties which are not by their express terms qualified by reference to
materiality, and (ii) in all respects, in the case of those representations and
warranties which are by their express terms qualified by materiality, as of the
date hereof and as of the Closing Date as if made on and as of the Closing Date,
except for (a) changes contemplated or permitted by this Agreement or the
Disclosure Schedule, and (b) those representations and warranties which address
matters only as of a particular date (which shall have been true and correct as
of such date, subject to clauses (i) and (ii)), with the same force and effect
as if made at and as of the Closing Date, and Buyer shall have received a
certificate to such effect signed on behalf of the Seller by the President and
the Chief Financial Officer of the Seller.
6.2. Agreements and Covenants. The Seller and the Company shall have
performed or complied in all material respects with all agreements and covenants
required by this Agreement to be performed or complied with by it at or prior to
the Closing Date, and Buyer shall have received a certificate to such effect
signed on behalf of the Seller by the President and the Chief Financial Officer
of the Seller.
6.3. Consents Obtained. All consents, waivers, approvals, authorizations
or orders required to be obtained, and all filings required to be made, by the
Seller, the Company, the Business Strategy Group or the Subsidiaries for the due
authorization, execution and delivery of this Agreement and the consummation by
it of the transactions contemplated hereby shall have been obtained and made by
the appropriate party, except where the failure to receive such consents, etc.
would not reasonably be expected to have a Material Adverse Effect.
Notwithstanding the foregoing, all of the consents, waivers, approvals,
authorizations or orders set forth on Exhibit C shall have been obtained or made
by the Seller, the Company, the Business Strategy Group or the Subsidiaries.
6.4. Liens. All Liens on the Shares and on or over the securities of any
of the Subsidiaries pursuant to the Financing Arrangements shall be released,
effective upon the transfer of the Shares to Buyer.
6.5. Guaranty. The Subsidiary Guaranty in connection with the Financing
Arrangements dated February 24, 1999 shall be released, effective upon the
transfer of the Shares to Buyer.
6.6. Delivery of Shares. The Seller shall have delivered the Shares to
Buyer.
6.7. Opinion of Seller's Counsel. The Buyer shall have received an opinion
of Ropes & Xxxx, reasonably satisfactory to Buyer, and an opinion of Xxxxxx
Xxxxx Xxxxxxx, substantially in the form of Exhibit D hereto.
6.8. No Material Adverse Change. Since the Audit Date, there shall have
been no Material Adverse Effect.
6.9. Earnout Payments. The Seller shall have paid in full any earnout
payments to Xxxx Xxxxxxx pursuant to the CM Management Trust Agreement dated as
of February 14, 1997 in the amount of $4,125,000 and Xxxx Xxxxxxx shall not be
entitled to any additional amounts under any Employee Plan not listed in Section
2.12 of the Disclosure Schedule, other than immaterial fringe benefits; provided
that Xxxx Xxxxxxx shall have been paid all amounts due and payable as of the
Closing Date pursuant to the Employee Plans listed in Section 2.12 of the
Disclosure Schedule.
6.10. Indebtedness of the Company and the Subsidiaries. On the Closing
Date, neither the Company nor the Subsidiaries shall have (a) any obligations
for borrowed money or interest-bearing obligations evidenced by a bond, note,
debenture or similar instrument, (b) any other indebtedness including any
intercompany accounts due to the Seller or any of its direct or indirect
subsidiaries (other than the Company or the Subsidiaries) whether or not
interest-bearing, in each case, other than indebtedness created by Sections 1.3
or 4.13 hereof, by the covenants of the parties hereto or the Transition
Services Agreement attached hereto as Exhibit E.
6.11. [Reserved]
6.12. Transition Services. The Buyer and the Seller shall have executed a
Transition Services Agreement substantially in the form of Exhibit E hereto.
6.13. Dissolutions and Distributions. Except as set forth on Section 6.13
of the Disclosure Schedule, the Seller, the Company and the Subsidiaries (a)
shall have completed the dissolution or liquidation of the Distributed Entities
set forth on Section 4.17(a) of the Disclosure Schedule and (b) shall have
distributed any interest of the Company or the Subsidiaries in the Distributed
Entities set forth on Section 4.17(b) of the Disclosure Schedule.
6.14. Licensing Agreement. The Company and the Seller shall have entered
into a Licensing Agreement with respect to the tradenames "Renaissance Worldwide
Strategy," "Business Strategy Group," "Renaissance Strategy Worldwide" and
"Renaissance Strategy" substantially in the form of Exhibit F hereto.
6.15. Transferred Litigation. The Company and the Seller shall have
entered into the Assignment Agreement and completed the assignment and transfer
of the Transferred Litigation in accordance with the terms thereof.
7. ADDITIONAL CONDITIONS PRECEDENT TO OBLIGATIONS OF THE SELLER. The obligations
of the Seller to effect the sale of the Shares and to consummate the other
transactions contemplated hereby is subject to the satisfaction on or prior to
the Closing Date of each of the following conditions:
7.1. Representations and Warranties. The representations and warranties of
Buyer contained in this Agreement shall be true and correct in all material
respects as of the date hereof and as of the Closing Date as if made on and as
of the Closing Date, and the Seller shall have received a certificate to such
effect signed on behalf of Buyer by the President and the Chief Financial
Officer of Buyer.
7.2. Agreements and Covenants. Buyer shall have performed or complied in
all material respects with all agreements and covenants required by this
Agreement to be performed or complied with by them on or prior to the Closing
Date, and the Seller shall have received a certificate to such effect signed on
behalf of Buyer by the President and the Chief Financial Officer of Buyer.
7.3. Consents Obtained. All consents, waivers, approvals, authorizations
or orders required to be obtained, and all filings required to be made, by Buyer
for the authorization, execution and delivery of this Agreement and the
consummation by them of the transactions contemplated hereby shall have been
obtained and made by Buyer, except where the failure to receive such consents,
etc. would not reasonably be expected to have a Material Adverse Effect.
7.4. Payment of Purchase Price. The Buyer shall have delivered the
Purchase Price to Seller.
7.5. Advance Repayment. The Buyer shall have paid to Seller the amount
called for in Section 1.3 hereof.
7.6. Opinion of Buyer's Counsel. The Seller shall have received an opinion
of Buyer's counsel, reasonably satisfactory to Seller.
8. INDEMNIFICATION.
8.1. Survival of Representations and Warranties of the Seller and the
Company. All of the representations and warranties of the Seller and the Company
contained herein or in any document, certificate or other instrument required to
be delivered hereunder shall survive the Closing and continue in full force and
effect until May 1, 2001; provided, that the representations and warranties of
the Seller and the Company (i)(A) contained in the first sentence of Section
2.1, (B) the first three sentences of Section 2.3 and (C) Section 2.4 shall
survive the Closing and continue in full force and effect without limit as to
time, (ii) contained in Sections 2.12 (but only to the extent related to
liability pursuant to ERISA), 2.16 and 2.17 shall survive the Closing and
continue in full force and effect subject to the expiration of the applicable
statute of limitations, and (iii) with respect to fraud shall survive the
Closing and continue in full force and effect without limit as to time. The
termination of any such representation and warranty, however, shall not affect
any claim for any breach of any representation or warranty if written notice
thereof is given to the breaching party or parties prior to such termination
date; provided, however, that any such written claim by any Indemnified Party
(as defined below) with respect to a breach of the representations and
warranties of the Seller and the Company may (a) with respect to a breach of the
representations and warranties described in clauses (i) and (iii) above be given
at any time and (b) with respect to a breach of the representation and
warranties described in clause (ii) above be given at any time prior to the
expiration of the applicable statute of limitations.
8.2. Indemnity by the Seller. Subject to Section 8.3, the Seller hereby
agrees to indemnify, defend and hold harmless the Buyer and each of its
directors, officers, shareholders and Affiliates, including, without limitation,
any of the investment partnerships or funds affiliated with Xxxxxxx Capital and
any of their general partners and Affiliates (collectively, the "Indemnified
Parties", and each an "Indemnified Party"), against and in respect of all Losses
(whether or not arising out of third-party claims) after the Closing resulting
from, based upon or incident to:
(a) any breach of any representation or warranty made by the Seller
or the Company herein or in any certificate or other document delivered in
connection herewith (as each such representation or warranty, other than
those made in Section 2.27, would read if all materiality and knowledge
provisions were not contained therein) and any misrepresentation made by
the Seller in connection with this Agreement or the transactions
contemplated hereby; and
(b) any breach or nonfulfillment by the Seller or the Company of,
and any noncompliance by the Company or the Seller with, any covenant,
agreement or obligation contained herein or in any certificate or other
document delivered in connection herewith.
The applicable Indemnified Party shall provide the Seller with prompt written
notice for any claim made in respect of the indemnification provided in this
Section 8.2, whether or not arising out of a claim by a third party, provided,
however, that no delay on the part of the Indemnified Party in notifying any
Indemnifying Party shall relieve the Indemnifying Party from any
obligation hereunder unless (and then solely to the extent) the Indemnifying
Party thereby is prejudiced.
8.3. Limitations on Indemnity by the Seller. The Indemnified Parties shall
not assert any claim for indemnification against the Seller under Section 8.2
until such time as the aggregate of all claims which the Buyer Indemnified
Parties may have against the Seller under Section 8.2 shall exceed .75% of the
Purchase Price, in which case the Seller shall be liable for all Losses arising
under Section 8.2; provided, however, the aggregate liability of the Seller for
indemnification claims under Section 8.2 shall not exceed ten percent (10%) of
the Purchase Price. Notwithstanding anything in this Agreement to the contrary,
the Indemnified Parties shall not be subject to any limitation pursuant to this
Section 8.3, and shall be entitled to full recovery from the Seller in respect
of claims for indemnification from the Seller for Losses described in Section
8.4 or in connection with (i) fraud, (ii) the breach by the Seller or the
Company of any of the representations and warranties contained in (A) the first
sentence of Section 2.1, (B) the first three sentences of Section 2.3 and
Section 2.4 or (C) Section 2.16 or (iii) Section 4.9. This Section 8 shall be
the sole and exclusive remedy for any and all Losses sustained or incurred by
Buyer or the Company or their respective successors and assigns (whether for
claims based in contract, tort or otherwise) resulting from or relating to any
misrepresentation, breach of warranty or failure to perform any covenant or
agreement contained in this Agreement or otherwise relating to this Agreement;
provided that this Section 8.3 shall not limit Buyer's rights under Section 8.4;
and provided further that this Section 8 shall not limit Buyer's rights under
Section 4.9.
8.4. Additional Indemnity by the Seller. Notwithstanding anything in this
Agreement or the Disclosure Schedule or any other document in connection
herewith to the contrary, including, without limitation Sections 8.2 and 8.3,
the Seller hereby agrees to indemnify, defend and hold harmless the Indemnified
Parties against and in respect of all Losses (whether or not arising out of
third-party claims) resulting from, based upon or incident to:
(a) events arising prior to or after the Closing in connection with
the redemption (the "Redemption") by COBA Consulting Limited of interests
from its shareholders pursuant to the Option Agreement dated February 3,
1997; provided that Seller shall not be obligated to indemnify Buyer for
any amounts paid prior to the Closing by the Company or the Subsidiaries
in connection with the Redemption;
(b) the dissolution, liquidation or divestiture of the Distributed
Entities, whether arising prior to or after the Closing;
(c) the Assignment dated as of March 1, 2000 between Coba Consulting
Limited and the Coba Group Limited, to the extent such Losses arise after
the date of such assignment;
(d) the Non-BSG Leases to the extent arising prior to or after the
Closing; provided that Seller shall not be obligated to indemnify Buyer
for any amounts paid prior to the Closing by Company or the Subsidiaries
in connection with the Non-BSG Leases; and
(e) third-party claims arising from the Transferred Litigation, to
the extent arising prior to or after the Closing; provided that Seller
shall not be obligated to indemnify Buyer for any amounts paid prior to
the Closing by Company or the Subsidiaries in connection with the
Transferred Litigation.
This obligation of the Seller and the rights of the Indemnified Parties
under this Section 8.4 shall not be limited in any way by any other provision of
this Section 8 and shall be in addition to the obligations of the Seller and the
rights of the Indemnified Parties under Section 8.2. If both Section 8.2 and
Section 8.4 shall be applicable to any Losses incurred by the Indemnified
Parties, then the Seller shall indemnify the Indemnified Parties pursuant to
this Section 8.4 and such Losses shall not count against the aggregate liability
of Seller for indemnification claims set forth in Section 8.3.
8.5. Matters Involving Third Parties.
(a) If any third party shall notify any Indemnified Party with
respect to any matter (a "Third Party Claim") which may give rise to a
claim for indemnification against any other party (the "Indemnifying
Party") under this Section 8, then the Indemnified Party shall promptly
notify each Indemnifying Party thereof in writing; provided, however, that
no delay on the part of the Indemnified Party in notifying any
Indemnifying Party shall relieve the Indemnifying Party from any
obligation hereunder unless (and then solely to the extent) the
Indemnifying Party thereby is prejudiced.
(b) Any Indemnifying Party will have the right to defend the
Indemnified Party against the Third Party Claim with counsel of its choice
so long as (i) the Indemnifying Party notifies the Indemnified Party in
writing within 30 days after the Indemnified Party has given notice of the
Third Party Claim that the Indemnifying Party will indemnify the
Indemnified Party from and against the entirety of any Losses the
Indemnified Party may suffer resulting from, arising out of; relating to,
in the nature of; or caused by the Third Party Claim, (ii) the Third Party
Claim does not seek any material equitable relief, (iii) the Indemnifying
Party shall conduct a good faith and diligent defense at its own expense,
and (iv) the Indemnifying Party keeps the Indemnified Party apprised of
the status of the Third Party Claim and furnishes the Indemnified Party
with all documents and information reasonably requested by the Indemnified
Party; provided, however, that if the named parties to the Third Party
Claim include both the Indemnifying Party and the Indemnified Party and
representation of both parties by the same counsel would be inappropriate
under applicable standards of professional conduct, the reasonable expense
of separate counsel for such Indemnified Party shall be paid by
the Indemnifying Party provided that such Indemnifying Party shall be
obligated to pay for only one counsel in any jurisdiction.
(c) So long as the Indemnifying Party is conducting the defense of
the Third Party Claim in accordance with Section 8.5(b) above, (i) the
Indemnified Party may retain separate co-counsel at its sole cost and
expense and participate in the defense of the Third Party Claim, (ii) the
Indemnified Party will not consent to the entry of any judgment or enter
into any settlement with respect to the Third Party Claim without the
prior written consent of the Indemnifying Party and (iii) the Indemnifying
Party will not consent to the entry of any judgment or enter into any
settlement with respect to the Third Party Claim unless written agreement
is obtained releasing the Indemnified Party from all liability thereunder.
(d) In the event any of the conditions in Section 8.5(b) above is or
becomes unsatisfied, however, (i) the Indemnified Party may defend
against, and consent to the entry of any judgment or enter into any
settlement with respect to, the Third Party Claim in any manner it may
deem appropriate (with the prior written consent of the Indemnified Party,
which consent shall not unreasonably be withheld), (ii) the Indemnifying
Parties will reimburse the Indemnified Party promptly and periodically for
the costs of defending against the Third Party Claim (including attorneys'
fees and expenses) and (iii) the Indemnifying Parties will remain
responsible for any Losses the Indemnified Party may suffer resulting
from, arising out of; relating to, in the nature of, or caused by the
Third Party Claim to the fullest extent provided in this Section 8.
9. DEFINITIONS. Certain capitalized terms are used in this Agreement with the
specific meanings defined below in this Section 9.
"Affiliate" shall have the meaning set forth in Rule 12b-2 of the
regulations promulgated under the Securities Exchange Act of 1934, as amended.
"Approval" means any franchise, grant, authorization, license, permit,
easement, consent, certificate, approval or order.
"Audit Date" has the meaning set forth in Section 2.8.
"BSG Assets" means assets currently used by the Business Strategy Group in
the conduct of its business and reflected on the Most Recent Balance Sheet,
which are owned by the Seller directly or through any direct or indirect
subsidiary.
"BSG Documents" has the meaning set forth in Section 4.11.
"BSG Properties" means properties currently used by the Business Strategy
Group in the conduct of its business and reflected on the Most Recent Balance
Sheet, which are owned by the Seller directly or through any direct or indirect
subsidiary.
"Business Strategy Group" means the operating division of the Seller known
as "Business Strategy Group," "Renaissance Worldwide Strategy" or "the strategy
division" which provides strategy development and implementation consulting
services at the senior executive or board level.
"Buyer" has the meaning set forth in the preamble.
"Closing" has the meaning set forth in Section 1.3.
"Closing Date" has the meaning set forth in Section 1.3.
"Code" means the Internal Revenue Code of 1986, as amended and the
regulations issued thereunder.
"Company" means Renaissance Worldwide Strategy, Inc.
"Confidentiality Letter" has the meaning set forth in Section 4.4.
"Contract" has the meaning set forth in Section 2.6(a).
"Customer" has the meaning set forth in Section 2.26.
"Disclosure Schedule" has the meaning set forth in Section 2.
"Distributed Entities" has the meaning set forth in Section 4.17.
"Employee Plan" has the meaning set forth in Section 2.12(a).
"Environmental Laws" means all applicable federal, state, foreign or local
laws or any regulation, code, plan, order, decree, judgment, notice or demand
letter issued, entered, promulgated or approved thereunder relating to pollution
or protection of the environment, including laws relating to emissions,
discharges, releases or threatened releases of pollutants, noise, contaminants,
or hazardous or toxic materials or wastes or any other Hazardous Substance into
ambient air, surface water, ground water, or land or otherwise relating to the
manufacture, processing, distribution, use, presence, production, labeling,
testing, treatment, storage, disposal, transport, or handling of pollutants,
contaminants or hazardous or toxic materials or wastes by the Company,
Subsidiaries or their respective agents.
"ERISA" has the meaning set forth in Section 2.12(a).
"ERISA Affiliate" means any trade or business, whether or not
incorporated, all of which together with the Company would be deemed a "single
employer" within the meaning of Section 4001 of ERISA.
"Exchange Act" has the meaning set forth in Section 2.6(d).
"Financial Statements" has the meaning set forth in Section 2.8.
"Financing Arrangements" means the Amended and Restated Credit Agreement
dated as of July 15, 1999 among Seller, Bank of America, N.A., BNY Factoring LLC
and the Lenders named therein and related documents.
"GAAP" has the meaning set forth in Section 2.8.
"Hazardous Substance" means any hazardous or toxic substance, including
any "hazardous substance" (as defined in 42 U.S.C. ss. 9601(14)), and oil,
gasoline and any other petroleum-based substance.
"HSR Act" has the meaning set forth in Section 2.6(d).
"Indebtedness" means with respect to any Person, all obligations
contingent or otherwise, in respect of: (a) borrowed money; (b) indebtedness
evidenced by notes, debentures or similar instruments; (c) capitalized lease
obligations; (d) the deferred purchase price of assets, services or securities,
including related non-competition, consulting and stock repurchase obligations
(other than ordinary trade accounts payable within six months after the
incurrence thereof in the ordinary course of business); (e) conditional sale or
other title retention agreements; (f) reimbursement obligations, whether
contingent or matured, with respect to letters of credit, bankers' acceptances,
surety bonds, other financial guarantees and interest rate protection agreements
(without duplication of other indebtedness supported or guaranteed thereby); (g)
dividends payable; and (h) interest, premium, penalties and other amounts owing
in respect of the items described in the foregoing clauses (a) through (g).
"Indemnified Party" has the meaning set forth in Section 8.2.
"Indemnifying Party" has the meaning set forth in Section 8.5.
"INS" has the meaning set forth in Section 2.19(b).
"Intellectual Property" means: (a) all inventions (whether patentable or
unpatentable and whether or not reduced to practice), all improvements thereto,
and all patents, patent applications, and patent disclosures, together with all
reissuances, continuations, continuations-in-part, revisions, extensions, and
reexaminations thereof; (b) all trademarks, service marks, trade dress, logos,
trade names, and corporate names, together with all translations, adaptations,
derivations, and combinations thereof and including all goodwill associated
therewith, and all applications, registrations, and renewals in connection
therewith; (c) all copyrightable works, all copyrights, and all applications,
registrations, and renewals in connection therewith; (d) all trade secrets and
confidential business information (including ideas, research and development,
know-how, formulas, compositions, manufacturing and production processes and
techniques, technical data, designs, drawings, specifications, customer and
supplier lists, pricing and cost information, and business and marketing plans
and proposals); (e) all computer software (including data and related
documentation); (f) all other proprietary rights; and (g) all copies and
tangible embodiments thereof (in whatever form or medium).
"Intellectual Property Rights" has the meaning set forth in Section
2.18(a).
"Laws" has the meaning set forth in Section 2.6(c).
"Lien" has the meaning set forth in Section 2.3.
"Losses" means liabilities, obligations, judgments, Liens, injunctions,
charges, orders, decrees, rulings, damages, dues, assessments, taxes, losses,
fines, penalties, expenses, fees, costs, amounts paid in settlement (including
reasonable attorneys' and expert witness fees and disbursements in connection
with investigating, defending or settling any action or threatened action),
arising out of any condition, claim, damages, complaint, demand, cause of
action, audit, investigation, hearing, action, suit or other proceeding asserted
or initiated or otherwise existing in respect of any matter.
"Material Adverse Effect" means any change, effect or circumstance that,
individually or when taken together with all other such changes, effects or
circumstances that have occurred prior to the date of determination of the
occurrence of the Material Adverse Effect, (a) is or is reasonably likely to be
materially adverse to the business, assets (including intangible assets),
financial condition or results of operations of the Company and the Subsidiaries
taken as a whole or the Business Strategy Group business or (b) is or is
reasonably likely to materially delay or prevent the consummation of the
transactions contemplated hereby.
"Most Recent Balance Sheet" has the meaning set forth in Section 2.8.
"Non-BSG Leases" has the meaning set forth in Section 4.12.
"Non-Compete Period" has the meaning set forth in Section 4.7.
"Person" means any present or future natural person or any corporation,
association, partnership, joint venture, limited liability, joint stock or other
company, business trust, trust, organization, business or government or any
governmental agency or political subdivision thereof.
"Purchase Price" has the meaning set forth in Section 1.2.
"PWC" has the meaning set forth in Section 4.9.
"Section 338(h)(10) Election" has the meaning set forth in Section 4.9.
"Securities Act" means the Securities Act of 1933, as amended and the
regulations issued thereunder.
"Seller" has the meaning set forth in the preamble.
"Shares" has the meaning set forth in the recitals.
"Software" has the meaning set forth in Section 2.28.
"Subsidiaries" means COBA Consulting Ltd. and Renaissance Worldwide
Strategy Limited.
"Subsidiary Documents" has the meaning set forth in Section 2.2.
"Third Party Claim" has the meaning set forth in Section 8.5.
"Welfare Plan" means a welfare benefit plan within the meaning of Section
3(1) of ERISA.
10. MISCELLANEOUS
10.1. Knowledge. References in this Agreement, except in Section 2.27, to
"knowledge of the Seller" shall be deemed to mean the actual knowledge of the
officers of the Company and the executive officers of Seller. References in
Section 2.27 to "knowledge of the Seller" shall be deemed to mean the actual
knowledge of executive officers of the Seller.
10.2. Notices. All notices, requests, demands, claims and other
communications hereunder shall be in writing and shall be sent by facsimile,
overnight courier, registered mail or certified mail. Any notice, request,
demand, claim, or other communication hereunder shall be deemed duly given, as
applicable, (a) upon confirmation of facsimile, (b) one business day following
the date sent when sent by overnight delivery or (c) five business days
following the date mailed when mailed by registered or certified mail return
receipt requested and postage prepaid at the following address:
If to Seller, to it at:
Renaissance Worldwide, Inc.
00 Xxxxxx Xxxxxx
Xxxxxxx, XX 00000
Attn: General Counsel
Telephone: (000) 000-0000
Telecopier: (000) 000-0000
With a copy to:
Xxxxx X. Xxxxxxx
Ropes & Xxxx
Xxx Xxxxxxxxxxxxx Xxxxx
Xxxxxx, XX 00000
Telephone: (000) 000-0000
Telecopier: (000) 000-0000
If to the Buyer, to it at:
c/o Behrman Capital
000 Xxxx 00xx Xxxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxxx X. Xxxxx
Telephone: (000) 000-0000
Telecopier: (000) 000-0000
With a copy to:
Xxxxx X. Xxxxxx
Xxxxxxx, Procter & Xxxx
Xxxxxxxx Xxxxx
Xxxxxx, XX 00000
Telephone: (000) 000-0000
Telecopier: (000) 000-0000
If to Company, to it at:
Renaissance Strategy
000 Xxxxxxxx Xxxxxx, 00xx Xxxxx
Xxxxxx, XX 00000
Attn: Xxxx Xxxxxxx
Telephone: (000) 000-0000
Telecopier: (000) 000-0000
Notwithstanding the foregoing, any party may send any notice, request,
demand, claim, or other communication hereunder to the intended recipient at the
address set forth above using any other means (including personal delivery,
expedited courier, messenger service, telecopy, telex, ordinary mail, or
electronic mail); provided, however, that no such notice, request, demand,
claim, or other communication shall be deemed to have been duly given unless and
until it actually is received by the intended recipient. Any party may change
the address to which notices, requests, demands, claims, and other
communications hereunder are to be delivered by giving the other party notice in
the manner herein set forth.
10.3. Expenses of Transaction. Whether or not the transactions provided
for herein are consummated, each of the parties hereto will assume and bear all
expenses, costs and fees (including legal and accounting fees and expenses)
incurred by such party in connection with the preparation, negotiation and
execution of this Agreement and the transactions contemplated hereby; provided,
however, that the Seller will assume and bear all expenses, costs and fees
(including legal and accounting fees and expenses) incurred by the Company in
connection with the preparation, negotiation and execution of this Agreement and
the transactions contemplated hereby. Notwithstanding the foregoing, at the
Closing, and only in the event of the consummation of the Closing by the parties
hereto, the Company will make a cash payment to the Buyer equal to the
reasonable fees and expenses incurred by the Buyer, its Affiliates and their
advisors, including legal counsel, which fees and expenses shall include a
transaction fee equal to $1,860,853 to Xxxxxxx Capital; provided, that in no
event shall Seller have any liability with respect to such payment to Buyer or
Xxxxxxx Capital, and if the Closing is not consummated for any reason
whatsoever, neither the Seller nor the Company shall have any liability with
respect to such payments to Buyer and Xxxxxxx Capital. The Seller and the Buyer
shall each pay one-half of the filing fees for any filings made by the parties
under the HSR Act.
10.4. Entire Agreement. The agreement of the parties that is comprised of
this Agreement, the Exhibits and Schedules hereto and the other documents
referred to herein sets forth the entire agreement and understanding between the
parties and supersedes any prior agreement or understanding, whether oral or
written, relating to the subject matter of this Agreement.
10.5. Assignment. This Agreement shall be binding upon and inure to the
benefit of and be enforceable by the successors and permissible assigns of the
Seller and the Buyer. This Agreement and any rights hereunder shall not be
assigned, hypothecated or otherwise transferred by any party hereto without the
prior written consent of the other parties hereto; provided,
however, that Buyer may assign its right, title and interest in and to, and the
benefits under, this Agreement to any lender financing this transaction or any
lender refinancing such financing and Seller hereby consents to such assignment.
10.6. Governing Law, etc. This Agreement shall be governed by and
construed in accordance with the laws of the Commonwealth of Massachusetts. Each
of the parties hereto hereby irrevocably and unconditionally consents to submit
to the exclusive jurisdiction of the courts of the Commonwealth of Massachusetts
and of the United States of America located in the Commonwealth of Massachusetts
for any actions, suits or proceedings arising out of or relating to this
Agreement and the transactions contemplated hereby, and each of the parties
hereto agrees not to commence any action, suit or proceeding relating hereto or
thereto except in such courts. Each of the parties hereto hereby irrevocably and
unconditionally waives any objection to the laying of venue of any action, suit
or proceeding arising out of this Agreement or the transactions contemplated
hereby or thereby, in the courts of the Commonwealth of Massachusetts or the
United States of America located in the Commonwealth of Massachusetts, and
hereby further irrevocably and unconditionally waives and agrees not to plead or
claim in any such court that any such action, suit or proceeding brought in any
such court has been brought in an inconvenient forum. In any action or suit to
enforce any right or remedy under this Agreement or to interpret any provision
of this Agreement, the prevailing party shall be entitled to recover its costs,
including reasonable attorneys' fees.
10.7. Waiver of Jury Trial. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW
THAT CANNOT BE WAIVED, EACH PARTY HEREBY WAIVES, AND COVENANTS THAT IT WILL NOT
ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE), ANY RIGHT TO TRIAL BY
JURY IN ANY FORUM IN RESPECT OF ANY ISSUE, CLAIM, DEMAND, ACTION OR CAUSE OF
ACTION ARISING OUT OF OR PASSED UPON THIS AGREEMENT OR THE SUBJECT MATTER
HEREOF, WHETHER NOW EXISTING OR HEREAFTER ARISING AND WHETHER SOUNDING IN TORT
OR CONTRACT OR OTHERWISE.
10.8. Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original for all purposes and all
of which together shall constitute one and the same instrument.
10.9. Headings. The headings contained in this Agreement are inserted only
as a matter of convenience and for reference and in no way define, limit, or
describe the scope or intent of this Agreement.
10.10. Termination. The parties may terminate this Agreement as provided
below:
(a) the parties may terminate this Agreement by mutual written
consent at any time prior to the Closing;
(b) the Buyer may terminate this Agreement by giving written notice
to the Seller at any time prior to the Closing (i) in the event the Seller
has breached any representation, warranty, or covenant contained in this
Agreement in a manner that would cause the condition in Sections 6.1 and
6.2 not to be satisfied, the Buyer has notified the Seller of the breach,
and the breach cannot be cured or the Seller fails to notify Buyer within
10 days after such notice of its intent to cure such breach or (ii) if the
Closing shall not have occurred on or before March 10, 2000, by reason of
the failure of any condition precedent under Section 6 hereof (unless the
failure results primarily from the Buyer itself materially breaching any
representation, warranty, or covenant contained in this Agreement); and
(c) the Seller may terminate this Agreement by giving written notice
to the Buyer at any time prior to the Closing (i) in the event the Buyer
has breached any representation, warranty, or covenant contained in this
Agreement in a manner that would cause the condition in Sections 7.1 and
7.2 not to be satisfied, the Seller has notified the Buyer of the breach,
and the breach cannot be cured or the Buyer fails to notify the Seller
within 10 days after such notice of its intent to cure such breach or (ii)
if the Closing shall not have occurred on or before March 10, 2000, by
reason of the failure of any condition precedent under Section 7 hereof
(unless the failure results primarily from the Seller itself materially
breaching any representation, warranty, or covenant contained in this
Agreement).
10.11. Effect of Termination. If any party terminates this Agreement
pursuant to Section 10.10 above, all rights and obligations of the parties
hereunder shall terminate (other than the rights and obligations of the parties
under Section 10.3) without any liability of any party to any other party
(except for any liability of any party then in breach).
10.12. Certain References. For the purposes of this Agreement, all
references to capital stock, common stock and stockholders insofar as they apply
to the Subsidiaries shall be deemed to be references to the share capital, the
ordinary share capital and the shareholders of the Subsidiaries, respectively.
10.13. The Guarantor. During the period beginning on the date this
Agreement is executed and ending on the Closing Date (the "Guarantee Period"),
the Guarantor hereby unconditionally and irrevocably guarantees to the Seller
the performance of each of the obligations and the undertakings of Buyer under
this Agreement when and to the extent the same are required to be performed
during the Guarantee Period and subject to all of the terms and conditions
hereof. If Buyer shall fail to perform any obligation or undertaking of Buyer
under this Agreement during the Guarantee Period when and to the extent the same
are required to be performed during the Guarantee Period, the Guarantor will
upon written demand from the Seller forthwith perform or cause to be performed
such obligation or undertaking as the case may be; provided that, the Guarantor
shall not have any liability whatsoever under this guaranty after the Closing
Date, whether based upon events occurring prior to or after the Closing Date;
provided, further, however, the aggregate liability of the Guarantor hereunder
shall not exceed $30,000,000.
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
under seal by their respective duly authorized officers as of the day and year
first written above.
ROME ACQUISITION CORP.
By: /s/ Xxxx Xxxxxx
-----------------------------------
Title:
RENAISSANCE WORLDWIDE, INC.
By: /s/ G. Xxxx Xxxxxx
-----------------------------------
Title:
RENAISSANCE WORLDWIDE STRATEGY, INC.
By: /s/ G. Xxxx Xxxxxx
-----------------------------------
Title:
THE UNDERSIGNED IS A PARTY TO THIS AGREEMENT SOLELY FOR THE PURPOSES OF SECTION
10.13 HEREOF AND SHALL NOT BE DEEMED A PARTY TO THIS AGREEMENT FOR PURPOSES OF
ANY OTHER PROVISION HEREOF.
XXXXXXX CAPITAL II, L.P.
By: XXXXXXX BROTHERS, L.L.C.,
its general partner
By: /s/ Xxxxx X. Xxxxxxx
-----------------------------------
Name: Xxxxx X. Xxxxxxx
Title: Managing Member
Schedules to the Stock Purchase Agreement
Reference is hereby made to that certain Stock Purchase Agreement dated February
29, 2000 by and among Rome Acquisition Corp., Renaissance Worldwide Strategy,
Inc. and Renaissance Worldwide, Inc. (the "Agreement"). This is the Disclosure
Schedule referred to in the Agreement. Capitalized terms used but not defined
herein shall have the meanings ascribed to them in the Agreement.
Any item listed or described in any schedule herein shall be deemed to have been
listed in or incorporated by reference into each other schedule herein where
such listing or description would be appropriate. Disclosure of any information
on any of the schedules herein shall not create any implication that such
information was required, under the terms of the agreement (on the basis of
materiality thresholds or otherwise), to be disclosed. Disclosure of any
contract shall be disclosure of the terms thereof.
Schedule 1.3 - Advance Repayment
--------------------------------------------------------------------------------------------------------------
Bonus
EMPL ID Employee Name Hire Date Incentive Oct 10-23-99 Med/ER OASDI/ER FUTA/ER SUI/ER
--------------------------------------------------------------------------------------------------------------
100376 Xxxxxxx, Xxxxxx 09/01/94 BNI 150,000.00 2,175.00 - - -
--------------------------------------------------------------------------------------------------------------
100088 Xxxxxxx, Xxxx R 01/01/92 BNI 300,000.00 4,350 00 - - -
--------------------------------------------------------------------------------------------------------------
101393 Cavallari Ford 11/01/96 BNI 200,000.00 2,900.00 - - -
--------------------------------------------------------------------------------------------------------------
102483 Xxxx, Xxxxxx 10/06/97 BNI 150,000.00 2,175 00 - - -
--------------------------------------------------------------------------------------------------------------
100857 Xxxxx, Xxxxxx B 02/01/96 BNI 150,000.00 2,175.00 - - -
--------------------------------------------------------------------------------------------------------------
101883 Xxxx, Xxxxx F 05/01/97 BNI 150,000.00 2,175.00 - - -
-----------------------------------------------------========================---------------------------------
1,100,000.00 15,950.00
--------------------------------------------------------------------------------------------------------------
Schedule 2.1 - Organization and Qualification; Subsidiaries
Subsidiaries
------------
Name Incorp. Auth. Capital
---- ------- -------------
1. Coba Consulting, Ltd. UK (pound)3,090.06
(1 xxxxx per share)
2. Renaissance Worldwide Strategy Limited UK (pound)100,000
(1 pound per share)
Equity Interests
----------------
1. List of companies the Company is dissolving (3): COBA Group, USA, Ltd.
(GA), Technomic Consultants, Inc. (IL), Technomic Research Associates
Limited (UK).
Schedule 2.3 - Capitalization
1. 65% of the shares of (i) COBA Consulting Ltd. and (ii) Renaissance
Worldwide Strategy Limited are pledged to the Bank of America, N.A.
pursuant to the Pledge and Security Agreement of the subsidiaries of
Renaissance Worldwide, Inc. dated July 15, 1999 in connection with the
Credit Agreement among the lenders party thereto, Bank of America N.A., as
administrative agent for itself and the other lenders and BNY Factoring
LLC as syndication agent dated July 15, 1999.
Schedule 2.5 - Title to Shares
1. The Company pledged all of the Shares pursuant to the Pledge and Security
Agreement by and between Seller and Bank of America as Administrative
Agent for the Lenders dated July 15, 1999 as amended by the First
Amendment.
Schedule 2.6 - No Conflict; Required Filings and Consents
(a) (i)
1. Amended and Restated Credit Agreement dated July 15, 1999, among
Renaissance Worldwide, Inc., the lenders party thereto, Bank of
America N.A., as administrative agent for itself and the other
lenders and BNY Factoring LLC as syndication agent, as amended by
the First Amendment to the Credit Agreement (the "Credit
Agreement").
2. Pledge and Security Agreement dated July 15, 1999 in connection with
the Credit Agreement.
3. Subsidiary Guaranty Agreement dated July 15, 1999 in connection with
the Credit Agreement.
4. Credit line with Barclay's Bank for benefit of RWS Ltd. in UK for
approximately (pound)200,000. There is also a wage line with the
bank for up to (pound)400,000 and an expenses line for up
to(pound)65,000 per month. There are currently no amounts
outstanding.
(a) (ii)
A. Client Contracts. The following are in the name of Seller and shall
be assigned to the Company:
1. Electric Lightwave; XXX/110 & XXX/111
2. GM Onstar; GMON/110 & GMON/111 & GMON/112
3. Ontario Hydro; OH/122
4. Century Telephone, Inc.; SHRCO/ 110-01A
5. Telesystem Int. Wireless, Inc.; TIW/112 & TIW/113 &
TIW/114
6. Nortel Networks; NT/12513 & NTL/125 & NTL/125B
7. Dell Computer Co.; DEL/112 & DEL/110-01
8. Citizens Utilities; CZN/110-01A & CZN/115B & CZN/115C &
CZN/121
9. Interactive Media Group; IMG/NOPRG
10. Wisconsin Electric Power Co.; WE/110B & WE/110C
11. Cisco Systems, Inc.; CIS/110 & CIS/110B & CIS/111
12. General Dynamics; GD/110 & GD/111 & GD/111B & GD/112 &
GD/113 & GD/114
13. Nextnet, Inc.; NEXT/111
14. Lucent Technologies, Inc.; LUC/118 & LUC/132
15. Xerox; XRX/110 & XRX/111
16. GTE Government Systems; GD/110
17. Global Ventures/Concert/Concert Management Services;
GV/110 & GV/111 & GV/112 & GV/113 & GV/114 & GY/115 &
GV/116 & GV/117
18. IBM Corp.; IBM/127 & IBM/129
19. Hewlett Packard; HP/111B & HP/115 & HP/117 & HP/120
20. Agilent Technologies; GEO-AGI/110
21. AT&T; ATT/142 & ATT/143
22. Geo-AT&T; GEO-ATT/110
23. GTE; GTE/144
24. Geoworks; GEW/110
Schedule 2.6 - No Conflict; Required Filings and Consents (cont'd)
A. Client Contracts (cont'd)
25. Nippon Telegraph and Telephone Corp.; NTT/110
26. Sun Microsystems; SUN/125B
27. Northwest Mortgage; NORW/110
28. Sprint Business; SPR/120B & SPR/127-01
29. BCE Mobile Communications, Inc.; BEL/202
B. Strategic Alliance
1. GeoPartners Research, Inc.
C. Personal property tied to equipment lease agreements
1. See Attachment 1 to Schedule 2.14, which identifies all the
leases to which Company is a party as well as those leases to
which Seller is a party but that are currently being used by
the Business Strategy Group.
D. Leaseholds
1. leasehold: Colony Square, Atlanta, GA
tenant: Company
2. leasehold: 44 Xxxxxxxxxx, San Francisco, CA
tenant: Company
3. leasehold: 0 Xxxxx Xxxxx Xxxxxx, XX0, Xxxxxx, Xxxxxxx
tenant: Three individuals and CBA Ltd. One individual (Xxxxxxx
Xxxx) and CBA Ltd. are indemnified by Coba Consulting
Ltd.
4. leasehold: 00 Xxxxxxxx Xxxxxx, Xxxxx 0000, 0000 Xxxxxxxx Xxxx,
XX, Xxxxxxx, XX
tenant: The Hunter Group, Inc. Company uses merely some 600
sq. ft. out of a 27,066 sq. ft. leasehold.
5. leasehold: Xxx Xxxxxx Xxxxxx, Xxxxxx, Xxxxxxx
tenant: Renaissance Worldwide Strategy, Ltd. assigned this
leasehold to a third party on December 7, 1999.
6. leasehold: Chicago - 000 Xxxx Xxxxxxx
tenant: The Hunter Group, Inc., an affiliate of the Company,
is the tenant on the lease. The Company currently
occupies the location. To assign or sublease requires
the consent of the landlord. See Schedule 2.6 (a).
Schedule 2.6 - No Conflict; Required Filings and Consents (cont'd)
7. leasehold: 00 Xxxxxxxxx Xxxxxx, Xxxxxx, XX
tenant: Renaissance Worldwide Limited. To sublease space to
the Company requires the consent of the landlord.
(b) (i)
1. The Credit Agreement requires that Seller shall have given or shall give
the Lenders notice and shall have obtained or shall obtain consent with
respect to dissolutions/distributions described on Schedule 2.9. The
Credit Agreement requires that the Lenders consent to the sale of the
Shares pursuant to the Agreement.
2. Certain leaseholds
a. Leasehold: Stamford, CT
Action: International Systems Services, Ltd., a former
subsidiary of the Company, assigned this leasehold to
RWITCS, an affiliate. No assignment documentation has
been executed. The landlord was not notified as
required by the lease.
b. Leasehold: Xxxxxx - 0 Xxxxx Xxxxx Xxxxxx
Action: Coba Consulting Ltd. has taken responsibility for this
lease.
c. Leasehold: Atlanta - Colony Square
Action: Coba Group USA, Ltd., a former subsidiary of the
Company, assigned this lease to the Company. No
assignment documentation has been executed.
d. Leasehold: Chicago - 000 Xxxx Xxxxxxx
Action: The Hunter Group, Inc., an affiliate of the Company,
is the tenant on the lease. The Company currently
occupies the location. To assign or sublease requires
the consent of the landlord. See Schedule 2.6.
e. Leasehold: 00 Xxxxxxxxx Xxxxxx, Xxxxxx, XX
Action: Renaissance Worldwide Limited need to obtain consent
from the landlord for a sublease with the Company.
Schedule 2.6 - No Conflict; Required Filings and Consents (cont'd)
(c)
1. The following contracts may be subject to a restriction on
assignment that could be triggered upon the transaction contemplated
hereby:
Client File Name
------ ---------
1. Hewlett Packard HP/111B, HP/115
2. IBM Corp. IBM/127
3. Nortel Networks NTL/125, NTL/125B
4. Cisco Systems, Inc. CIS/110, CIS/110B, CIS/111
5. Xerox XRX/110, XRX/111
6. Sprint SPR/120B, SPR/132
7. Xxxxxx XXXX/110
8. AT&T ATT/142, ATT/143
2. In addition, the personal property leases identified on Attachment 1
of Schedule 2.14 are subject to a restriction on assignment that
could be triggered upon the transactions contemplated hereby.
3. See the leaseholds listed in this Schedule under (a)(ii)(D).
Schedule 2.7 - Compliance
See Schedule 2.16.
Schedule 2.8 - Financial Statements
1. Contingent liability to Company for Amex cards held by 75 employees. The
Company is obligated to indemnify Seller for any liability relating to
Amex cards used by the employees of the Company. No written indemnity
agreement was entered into between Seller and the Company.
2. The Company as the assignor under certain leases has contingent liability
under the leasehold in First Stamford Place, Stamford, CT, Colony Square,
Atlanta, GA, Curzon Street and Great Xxxxx Place in London if an assignee
fails to fulfill its obligations.
3. Assignment or buy-out of personal property leases.
In connection with this transaction, Renaissance Worldwide Strategy
Limited shall assign to Renaissance Worldwide Limited the personal
property leases specified below:
i. Master lease agreement for computers by and between Dell and
Renaissance Worldwide Strategy Limited dated August 3, 1999.
ii. Master lease agreement for copiers by and between Xerox and
Renaissance Worldwide Strategy Limited.
4. The Company has a contingent obligation to pay The Hunter Group, Inc. a
security deposit in the amount of $11,000 if the landlord refunds such
security deposit to the Company instead of The Hunter Group, Inc. at the
expiration or termination of the lease at 44 Xxxxxxxxxx in San Francisco.
5. The Company is obligated to pay The Hunter Group, Inc. a security deposit
in the amount of $11,311 if the landlord refunds such security deposit to
the Company instead of The Hunter Group, Inc. at the expiration or
termination of the lease at 000 Xxxx Xxxxxxx in Chicago.
Schedule 2.9 - Absence of Certain Changes or Events
(g) The Company has divested or dissolved certain of its subsidiaries
a. 1045795 Ontario, Inc. (Canada) dissolved effective November
15, 1999.
b. International Systems Services (UK) Ltd. dissolved effective
December 7, 1999.
c. Renaissance Technomic Limited (Hong Kong) distributed
effective 12/99.
d. Renaissance Worldwide Strategy (5) Pte. Ltd. distributed
effective 12/99.
e. Renaissance Worldwide AB (Sweden) distributed effective 01/00.
f. The Management Decisions Group Inc. (IL) distributed effective
02/00.
g. Renaissance Worldwide KK (Japan) distributed effective 02/00.
The Company intends to dissolve or to distribute the entities listed
below:
x. Xxxx Group USA, Ltd. (GA) to be dissolved.
b. Technomic Consultants, Inc. (IL) to be dissolved.
c. Technomic Research Associates Limited (UK) to be dissolved.
The Company intends to transfer to Seller certain intellectual property
rights pursuant to an Assignment of Rights in Trademarks, Service Marks
and Trade Names in substantially the form attached to the Agreement as
Exhibit A-1. COBA Consulting Ltd. intends to transfer to Renaissance
Worldwide Ltd. certain intellectual property rights pursuant to an
Assignment of Rights in Trademarks, Service Marks and Trade Names in
substantially the form attached to the Agreement as Exhibit A-2. The
Company intends to transfer certain rights with respect to the litigation
referenced on Schedule 2.11 to the Seller pursuant to an Assignment
Agreement in substantially the form attached to the Agreement as Exhibit
B.
(k) Partial payment of performance bonuses to certain employees of Company for
1999 as described on Schedules 1.3 and 4.13.
February 4, 2000 announcement of fiscal year 2000 salary raises effective
January 1, 2000 (of approximately 8%) and promotions.
Schedule 2.10 - No Undisclosed Liabilities
1. See Schedule 2.8.
Schedule 2.11 - Absence of Litigation
The rights and obligations of the Company relating to the litigation:
Renaissance Worldwide Strategy, Inc. v. Bridge Strategy, LLC - Xxxxxxx X.
Xxxxxxxx, Xxxxx X. Xxxxxx, Xxxx X. X'Xxxx, Xxxxxxx X. Pass and Xxxx X. Xxxxxx
will be assigned pursuant to an Assignment Agreement in the form attached as
Exhibit B to the Agreement to Seller in connection with the transaction
contemplated hereby. The defendants verbally threatened to file a counterclaim
against the Company.
Schedule 2.12 - Employee Benefit Plans, Employment Agreements
In conjunction with employment agreements entered into in October 1999,
BSG is contingently liable to make payments to six key employees. These
payments are contingent on the achievement of certain performance goals
and the employee's full-time employment at BSG on the dates of the
scheduled payments. Upon the closing of a sale of BSG, these employees
are entitled to a $1,550,000 retention bonus. These agreements also
provide for $2,500,000 to be paid on the anniversary date of the first
and second year after BSG's separation from Seller.
(a)(i) The Company maintains a bonus plan that awards employees
performance-based bonuses calculated as a percentage of their annual
salary. The Company also maintains a commission plan for vice presidents
that awards 3% of the sales generated by each vice president. In
addition, the Company maintains the following Employee Plans:
Benefit Plan Provider
--------------------------------------------------------------------------------
o Medical Plan - The Guardian & Harvard Pilgrim Health Care
o Dental Plan - The Guardian
o Long Term Disability - Unum
o Short Term Disability - Unum
o COBRA - Sentinel Benefits Group
o FSA - Sentinel Benefits Group
o 401(k) - Xxxxxxx Xxxxxx & Co., Inc.
o Business Travel - Assist America through Commercial Life
Insurance
o Group Life - The Guardian
o Vacation Plan - 1 to 5 years = 3 weeks accrued monthly
5 to 10 years = 4 weeks accrued monthly
10 or more years = five weeks accrued monthly
o Accidental Death and - Commercial Life Insurance
Dismemberment
o Seller Employee Stock
Purchase Plan
o Seller Stock Option
Program
(a)(ii) Each of the Subsidiaries maintain the following Employee Plans:
Benefit Plan Provider
--------------------------------------------------------------------------------
o Medical Insurance - Royal and Sun Alliance
o Life Assurance - UNUM
o Long Term Disability - UNUM
o Pension (GPPP) - Scottish Equitable
o Business Travel Insurance - AIG
o Vacation Plan - 5 weeks (not accrued monthly)
Schedule 2.12 - Employee Benefit Plans, Employment Agreements (cont'd)
(c)(i) Employment agreements.
Name
----------------------
Xxxxxxx, Xxxxxx
Belt, Xxxxxx X
Xxxxxxx, Xxxx R
Cavallari, Ford
Cela, Xxxxxx X.
Xxxx, Xxxxxx
Xxxxxx, Xxxx
Devegt, Rolf
Elm, Xxxxx
House, Xxx
Xxxxx, Xxxx
Xxxxxx, Xxxxx X
Xxxxx, Xxxxxx X
XxXxxxx, Xxxxxx
Xxxx, Xxxxx F
In the event that Buyer does not accept the terms and conditions of the
employment agreements between Xxxx Xxxxxx or Xxxxxx XxXxxxx and Seller
(or an affiliate of Seller), Seller will continue to employ Xxxx Xxxxxx
and Xxxxxx XxXxxxx. At Buyer's reasonable request, Seller shall use
commercially reasonable efforts to make Xxxx Xxxxxx and Xxxxxx XxXxxxx
available to Buyer at market rates.
Employment agreements entered into with the following employees in
February or March 2000 (the "New Agreements"):
Name
----------------------
Xxxxxxx, Xxxxxx
Xxxxxx, Xxxxx
Belt, Xxxxxx
Xxxxxxx, Xxxx
Cavallari, Ford
Xxxx, Xxxxxx
Devegt, Xxxx
Xxxxxxxxx, Xxxx
Xxxxx, Xxx
Xxxxxx, Xxxxx
Xxxxx, B.
XxxXxxxxx, Xxxx
Schedule 2.12 - Employee Benefit Plans, Employment Agreements (cont'd)
(c)(ii) Consulting agreement.
Name
----------------------
Xxxxxxx, Xxxxx
(c)(iii) None.
Schedule 2.14 - All Assets Necessary to Conduct Business
Except as provided in the Transition Services Agreement or in this Agreement:
1. Neither Company, nor Subsidiaries have a right to use any real estate in
U.K.
2. With few exceptions, the laptops and desktops used by the Company or its
Subsidiaries are leased or owned by Seller.
a) See Attachment 1, List A
3. With few exceptions, the printers, servers and network hardware used by
the Company are leased or owned by Seller.
a) See Attachment 1, List B
4. With few exceptions, the copiers and facsimile machines used by the
Company is licensed or owned by Seller.
a) See Attachment 1, List C
5. With few exceptions, the internal phone systems used by the Company or
Subsidiaries are leased or owned by Seller.
a) See Attachment 1, List D
6. With few exceptions, the computer software used by the Company is licensed
or owned by Seller.
a) See Attachment 1, List E
7. With few exceptions, the office furniture used by the Company is leased or
owned by Seller.
a) See Attachment 1, List F
8. Once the sale of the Company is complete, Company and Subsidiaries will
not have access to Renaissance's WAN and will lack a network and e-mail
system.
9. See Schedule 4.11.
TABLE OF CONTENTS
SCHEDULE NO.____
LIST DESCRIPTION
A Inventory of personal computers
B Inventory of printers, servers, and network hardware
C Inventory of copier and facsimile machines
D Inventory of internal phone systems
E Inventory of software
F Inventory of office furniture and furnishings
G Miscellaneous (i.e. automobiles, etc.)
o Equipment listed in italicized text represents inventory that is currently
leased through a party other than Renaissance Worldwide, Inc.
LIST A
Inventory of Personal Computers
o Items listed in bold italics are either leased or owned by Renaissance
Worldwide, Inc.
--------------------------------------------------------------------------------
SERIAL NO. MACHINE LEASE LEASE NO.
TYPE
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
BOSTON
--------------------------------------------------------------------------------
Z9BKG Dell/LAPTOP BANCBOSTON 007384092-36
--------------------------------------------------------------------------------
Z8ZP3 Dell/LAPTOP BANCBOSTON 007384092-36
--------------------------------------------------------------------------------
Z3Q1Z Dell/LAPTOP BANCBOSTON 007384092-27
--------------------------------------------------------------------------------
Z8ZPJ Dell/LAPTOP BANCBOSTON 007384092-36
--------------------------------------------------------------------------------
Z303G Dell/LAPTOP BANCBOSTON 007384092-27
--------------------------------------------------------------------------------
Z3Q3Y Dell/LAPTOP BANCBOSTON 007384092-27
--------------------------------------------------------------------------------
Z3Q1Y Dell/LAPTOP BANCBOSTON 007384092-27
--------------------------------------------------------------------------------
GYDNT Dell/DESKTOP COMDISCO 01-SL84438-00
--------------------------------------------------------------------------------
Z3Q20 Dell/LAPTOP BANCBOSTON 007384092-27
--------------------------------------------------------------------------------
GYDNV Dell/DESKTOP COMDISCO 01-SL84438-00
--------------------------------------------------------------------------------
ZDPZO Dell/DESKTOP COMDISCO 01-SL84438-00
--------------------------------------------------------------------------------
CS87S Dell/LAPTOP FIFTH THIRD 001-75084-41-
00034
--------------------------------------------------------------------------------
ZDPWY Dell/LAPTOP COMDISCO 01-SL84438-00
--------------------------------------------------------------------------------
GYDNQ Dell/DESKTOP COMDISCO 01-SL84438-00
--------------------------------------------------------------------------------
Z8ZPT Dell/LAPTOP BANCBOSTON 007384092-36
--------------------------------------------------------------------------------
Z3Q21 Dell/LAPTOP BANCBOSTON 007384092-27
--------------------------------------------------------------------------------
Z303F Dell/LAPTOP BANCBOSTON 007384092-27
--------------------------------------------------------------------------------
ZQZ9Z Dell/LAPTOP COMDISCO 01-SL84438-01
--------------------------------------------------------------------------------
DPF8C Dell/LAPTOP FIFTH THIRD 001-75084-41-
00034
--------------------------------------------------------------------------------
Z2X48 Dell/LAPTOP BANCBOSTON 007384092-26
--------------------------------------------------------------------------------
ZNBRT Dell/LAPTOP COMDISCO 01-SL84438-01
--------------------------------------------------------------------------------
Z8ZPC Dell/LAPTOP BANCBOSTON 007384092-36
--------------------------------------------------------------------------------
Z586D Dell/LAPTOP BANCBOSTON 007384092-26
--------------------------------------------------------------------------------
Z8ZPF Dell/LAPTOP BANCROSTON 007384092-36
--------------------------------------------------------------------------------
ZQW4Y Dell/LAPTOP COMDISCO 01-SL84438-01
--------------------------------------------------------------------------------
CDDC3 Dell/LAPTOP FIFTH THIRD 001-75084-41-
00026
--------------------------------------------------------------------------------
GYDNW Dell/DESKTOP COMDISCO 01-SL84438-00
--------------------------------------------------------------------------------
Z303X Dell/LAPTOP BANCBOSTON 007384092-27
--------------------------------------------------------------------------------
Z8ZP5 Dell/LAPTOP BANCBOSTON 007384092-36
--------------------------------------------------------------------------------
Z2XH7 Dell/LAPTOP BANCBOSTON 007384092-30
--------------------------------------------------------------------------------
Z3Q1X Xxxx/XXXXXX XXXXXXXXXX 000000000-00
--------------------------------------------------------------------------------
X0X0X Dell/LAPTOP BANCBOSTON 007384092-27
--------------------------------------------------------------------------------
ZDPXS Dell/LAPTOP COMDISCO 01-SL84438-00
--------------------------------------------------------------------------------
GYDNH Dell/DESKTOP COMDISCO 01-SL84438-00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Z3Q2H Dell/LAPTOP BANCBOSTON 007384092-27
--------------------------------------------------------------------------------
VDXVQ Dell/LAPTOP COMDISCO 01-SL84438-03
--------------------------------------------------------------------------------
CDDB3 Dell/LAPTOP FIFTH THIRD 01-75084-41-00026
--------------------------------------------------------------------------------
Z59HH Dell/LAPTOP BANCBOSTON 007384092-30
--------------------------------------------------------------------------------
GYDNQ Dell/DESKTOP COMDISCO 01-SL84438-00
--------------------------------------------------------------------------------
VDWG8 Dell/LAPTOP COMDISCO 01-SL84438-03
--------------------------------------------------------------------------------
DPF8F Dell/LAPTOP FIFTH THIRD 001-75084-41-0042
--------------------------------------------------------------------------------
DNNH1 Dell/LAPTOP FIFTH THIRD 001-75084-41-0042
--------------------------------------------------------------------------------
VDWGT Dell/LAPTOP COMDISCO 01-SL84438-00
--------------------------------------------------------------------------------
GYDNN Dell/DESKTOP COMDISCO 01-SL84438-00
--------------------------------------------------------------------------------
8R62200129 DEC/LAPTOP BANCBOSTON 007384092-25
--------------------------------------------------------------------------------
VDXPC Dell/LAPTOP COMDISCO 01-SL84438-03
--------------------------------------------------------------------------------
ZN559 Dell/LAPTOP
--------------------------------------------------------------------------------
VDFZW Dell/LAPTOP
--------------------------------------------------------------------------------
ZYF49 Dell/LAPTOP
--------------------------------------------------------------------------------
ZNXR4 Dell/LAPTOP
--------------------------------------------------------------------------------
82081041 NEC/LAPTOP
--------------------------------------------------------------------------------
SC54785D2TK Apple/LAPTOP
--------------------------------------------------------------------------------
SG6031XB4FY Apple/LAPTOP
--------------------------------------------------------------------------------
7X082680 NEC LAPTOP
--------------------------------------------------------------------------------
82081090 NEC/LAPTOP
--------------------------------------------------------------------------------
7X082681 NEC/LAPTOP
--------------------------------------------------------------------------------
82081057 NEC/LAPTOP
--------------------------------------------------------------------------------
US82326130 HP/DESKTOP
--------------------------------------------------------------------------------
82081037 NEC/LAPTOP
--------------------------------------------------------------------------------
US80807685 HP/DESKTOP
--------------------------------------------------------------------------------
US82911962 HP/DESKTOP
--------------------------------------------------------------------------------
US82909394 HP/DESKTOP
--------------------------------------------------------------------------------
CN9SX Dell/DESKTOP
--------------------------------------------------------------------------------
7Z082349 NEC/LAPTOP
--------------------------------------------------------------------------------
Z9G2R Dell/LAPTOP
--------------------------------------------------------------------------------
82081038 NEC/LAPTOP
--------------------------------------------------------------------------------
79080008 NEC/LAPTOP
--------------------------------------------------------------------------------
US82326128 HP/DESKTOP
--------------------------------------------------------------------------------
US82326086 HP/DESKTOP
--------------------------------------------------------------------------------
US61250346 HP/DESKTOP
--------------------------------------------------------------------------------
82081039 NEC/LAPTOP
--------------------------------------------------------------------------------
79080007 NEC/LAPTOP
--------------------------------------------------------------------------------
FRP87WGAA DEC/LAPTOP
--------------------------------------------------------------------------------
VDY5G Dell/LAPTOP
--------------------------------------------------------------------------------
79080008 NEC/LAPTOP
--------------------------------------------------------------------------------
APPLE/
DESKTOP
--------------------------------------------------------------------------------
APPLE/
DESKTOP
--------------------------------------------------------------------------------
DELL
--------------------------------------------------------------------------------
APPLE/
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
LAPTOP
--------------------------------------------------------------------------------
QUARDA
--------------------------------------------------------------------------------
APPLE/
DESKTOP
--------------------------------------------------------------------------------
NEC/LAPTOP 7X082765
--------------------------------------------------------------------------------
APPLE/
LAPTOP
--------------------------------------------------------------------------------
APPLE/
DESKTOP
--------------------------------------------------------------------------------
COMPAQ/
DESKTOP
--------------------------------------------------------------------------------
APPLE/
DESKTOP
--------------------------------------------------------------------------------
APPLE/
LAPTOP
--------------------------------------------------------------------------------
APPLE/
DESKTOP
--------------------------------------------------------------------------------
APPLE/
DESKTOP
--------------------------------------------------------------------------------
APPLE/
DESKTOP
--------------------------------------------------------------------------------
APPLE/
DESKTOP
--------------------------------------------------------------------------------
APPLE/ SG60319D4FV
LAPTOP
--------------------------------------------------------------------------------
APPLE/
DESKTOP
--------------------------------------------------------------------------------
NEC/LAPTOP 82081038
--------------------------------------------------------------------------------
APPLE/
LAPTOP
--------------------------------------------------------------------------------
APPLE/ SG605OFUF4V
LAPTOP
--------------------------------------------------------------------------------
APPLE/ SG6050FW4FV
LAPTOP
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SAN FRANCISCO
--------------------------------------------------------------------------------
DPF84 DELL/LAPTOP FIFTH THIRD 001-75084-41-0042
--------------------------------------------------------------------------------
Z2XK3 DELL/LAPTOP BANCBOSTON 007384092-28
--------------------------------------------------------------------------------
VDY13 DELL/LAPTOP COMDISCO 01-SL84438-03
--------------------------------------------------------------------------------
CDLWN DELL/LAPTOP FIFTH THIRD 01-75084-41-00026
--------------------------------------------------------------------------------
Z2X5G DELL/LAPTOP BANCBOSTON 007384092-26
--------------------------------------------------------------------------------
7X082674 NEC/LAPTOP
--------------------------------------------------------------------------------
7Y081034 NEC/LAPTOP
--------------------------------------------------------------------------------
REPAIR HP/DESKTOP
--------------------------------------------------------------------------------
7Y081986 NEC/LAPTOP
--------------------------------------------------------------------------------
COMPAQ
--------------------------------------------------------------------------------
7X082662 NEC/LAPTOP
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
7X082672 NEC/LAPTOP
--------------------------------------------------------------------------------
80706932 HP/ DESKTOP
--------------------------------------------------------------------------------
81609503 HP/DESKTOP
--------------------------------------------------------------------------------
82081090 NEC/LAPTOP
--------------------------------------------------------------------------------
COMPAQ
--------------------------------------------------------------------------------
7082669 NEC/LAPTOP
--------------------------------------------------------------------------------
74008363 NEC/LAPTOP
--------------------------------------------------------------------------------
81609053 HP/DESKTOP
--------------------------------------------------------------------------------
7Y081034 NEC/LAPTOP
--------------------------------------------------------------------------------
7X082674 NEC/LAPTOP
--------------------------------------------------------------------------------
7X082662 NEC/LAPTOP
--------------------------------------------------------------------------------
7X082669 NEC/LAPTOP
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
STAMFORD
--------------------------------------------------------------------------------
ZQW4X DELL/LAPTOP COMDISCO 01-SL84438-01
--------------------------------------------------------------------------------
HP/DESKTOP
--------------------------------------------------------------------------------
82081035 NEC/LAPTOP
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
MANHATTAN
--------------------------------------------------------------------------------
ZNBS6 DELL/LAPTOP COMDISCO 01-SL84457-01
--------------------------------------------------------------------------------
Z09HB DELL/LAPTOP FIFTH THIRD 001-75084-41-0042
--------------------------------------------------------------------------------
CRH8O DELL/LAPTOP FIFTH THIRD 001-75084-41-0042
--------------------------------------------------------------------------------
Z59SK DELL/LAPTOP
--------------------------------------------------------------------------------
82081035 NEC/LAPTOP
--------------------------------------------------------------------------------
DP/N-009321C- LAPTOP
12800-86D-0227
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
ATLANTA
--------------------------------------------------------------------------------
Z9F47 DELL/LAPTOP BANCBOSTON 007384092-37
--------------------------------------------------------------------------------
7X081635 NEC/LAPTOP
--------------------------------------------------------------------------------
00060888-12800-844- LAPTOP
2620
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
LONDON
--------------------------------------------------------------------------------
7717BB731634 COMPAQ/
LAPTOP
--------------------------------------------------------------------------------
49 COMPAQ/
LAPTOP
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
CHICAGO
--------------------------------------------------------------------------------
D7PRX DELL/LAPTOP FIFTH THIRD 001-75084-41-0034
--------------------------------------------------------------------------------
7Z082350 NEC/LAPTOP
--------------------------------------------------------------------------------
9321C128087F2475 LAPTOP
--------------------------------------------------------------------------------
60888128008440602 LAPTOP
--------------------------------------------------------------------------------
US80319150 HP/DESKTOP
--------------------------------------------------------------------------------
608881280083102721 LAPTOP
--------------------------------------------------------------------------------
7Z082111 NEC/LAPTOP
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
60881280082C1457 LAPTOP
--------------------------------------------------------------------------------
U574305739 HP/DESKTOP
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
INVENTORY
--------------------------------------------------------------------------------
12063008 DEC/DESKTOP
--------------------------------------------------------------------------------
SPARES COMPAQ/
DESKTOP
--------------------------------------------------------------------------------
8R62100559 DEC
--------------------------------------------------------------------------------
7Z082353 NEC
--------------------------------------------------------------------------------
75002168 NEC
--------------------------------------------------------------------------------
8R62100548 DEC
--------------------------------------------------------------------------------
SR61900066 DEC
--------------------------------------------------------------------------------
SR63000502 DEC
--------------------------------------------------------------------------------
4Z009906 NEC
--------------------------------------------------------------------------------
5X015746 NEC
--------------------------------------------------------------------------------
5X001306 NEC
--------------------------------------------------------------------------------
APPLE/
LAPTOP
--------------------------------------------------------------------------------
APPLE/
LAPTOP
--------------------------------------------------------------------------------
81081351 NEC/LAPTOP
--------------------------------------------------------------------------------
7Z082349 NEC/LAPTOP
--------------------------------------------------------------------------------
7Y081039 NEC/LAPTOP
--------------------------------------------------------------------------------
SG6050GH4FV APPLE/
LAPTOP
--------------------------------------------------------------------------------
SG6050GF4FV APPLE/
LAPTOP
--------------------------------------------------------------------------------
7Y081039
--------------------------------------------------------------------------------
82081057
--------------------------------------------------------------------------------
APPLE/
DESKTOP
--------------------------------------------------------------------------------
APPLE/
LAPTOP
--------------------------------------------------------------------------------
APPLE/
LAPTOP
--------------------------------------------------------------------------------
NEC/LAPTOP
--------------------------------------------------------------------------------
NEC/LAPTOP
--------------------------------------------------------------------------------
LIST B
Inventory of printers, servers, and network hardware
o Items listed in bold italics are either owned or leased by Renaissance
Worldwide, Inc.
o All other items listed below are either owned or leased under an Agreement
by Renaissance Worldwide Strategy, Inc.
--------------------------------------------------------------------------------
TYPE (Location) MODEL NO. SERIAL NO. LEASE
--------------------------------------------------------------------------------
PRINTERS
--------------------------------------------------------------------------------
SHARP SF2030 86509311 IKON Office
Supplies
--------------------------------------------------------------------------------
HP (Chicago) LJ4+ Own
--------------------------------------------------------------------------------
HP (Chicago) LJ4000 Own
--------------------------------------------------------------------------------
TEKTRONICS PHASER 340 Own
(Stamford)
--------------------------------------------------------------------------------
TEKTRONICS PHASER 340 Own
(Stamford)
--------------------------------------------------------------------------------
HP (Stamford) LJ4000 Own
--------------------------------------------------------------------------------
HP (Stamford) LJ4M+ Own
--------------------------------------------------------------------------------
HP (Stamford) LJ4000 Own
--------------------------------------------------------------------------------
HP (Stamford) LJ4+ Own
--------------------------------------------------------------------------------
HP (Stamford) LJ4+ Own
--------------------------------------------------------------------------------
HP (Stamford) LJ4+ Own
--------------------------------------------------------------------------------
HP (Stamford) LJ4+ Own
--------------------------------------------------------------------------------
HP (Stamford) LJ4+ Own
--------------------------------------------------------------------------------
HP (Stamford) LJ4+ Own
--------------------------------------------------------------------------------
HP (Stamford) LJ4+ Own
--------------------------------------------------------------------------------
HP (Stamford) LJ4+ Own
--------------------------------------------------------------------------------
HP (Stamford) Desk Jet 710C Own
--------------------------------------------------------------------------------
HP (Manhattan) LJ4V Own
--------------------------------------------------------------------------------
HP (Manhattan) LJ5N Own
--------------------------------------------------------------------------------
TEKTRONICS PHASER 350 Own
(Manhattan)
--------------------------------------------------------------------------------
TEKTRONICS PHASER 560 Own
(Atlanta)
--------------------------------------------------------------------------------
HP (Atlanta) LJ5 Own
--------------------------------------------------------------------------------
HP (Boston) LJ4L USBB111444
--------------------------------------------------------------------------------
XX (Xxxxxx) XX0000XX USNC153812
--------------------------------------------------------------------------------
HP (Boston) LJ4M+ JPGF006427
--------------------------------------------------------------------------------
HP (Boston) LJ5SI USDK137159
--------------------------------------------------------------------------------
HP (Boston) LJ6MP USCB070860
--------------------------------------------------------------------------------
HP (Boston) LJ4050 USBB064282
--------------------------------------------------------------------------------
HP (Boston) LJ4000TN USNC152277
--------------------------------------------------------------------------------
HP (San Francisco) LJ4500N
--------------------------------------------------------------------------------
HP (San Francisco) LJ4000N
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
HP (San Francisco) LJ4000N
--------------------------------------------------------------------------------
HP (San Francisco) LJ4M
--------------------------------------------------------------------------------
HP (San Francisco) LJ4M
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SERVERS
--------------------------------------------------------------------------------
HP (Chicago) LCII Own
--------------------------------------------------------------------------------
HP (Atlanta) LCII Own
--------------------------------------------------------------------------------
DELL (Stamford) PowerEdge 2300 Own
--------------------------------------------------------------------------------
DELL (Manhattan) PowerEdge 2300 Own
--------------------------------------------------------------------------------
DELL (London) 2300 Own
--------------------------------------------------------------------------------
Own
COMPAQ Prosigna 300 6536HPK3D886
(Stamford)
--------------------------------------------------------------------------------
HP (San Francisco) LD Pro US80600621
--------------------------------------------------------------------------------
HP (San Francisco) LH Pro US74301339
--------------------------------------------------------------------------------
IBM (Boston) 2386026
--------------------------------------------------------------------------------
DELL (Boston) PowerEdge 2300 GHMQZ
--------------------------------------------------------------------------------
COMPAQ (Boston) Prosigna 500 6549HQM10782
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
HUBS
--------------------------------------------------------------------------------
BAYNETWORKS Baystack 102 Own
(Chicago)
--------------------------------------------------------------------------------
BAYNETWORKS Baystack 102 Own
(Manhattan)
--------------------------------------------------------------------------------
BAYNETWORKS AN BEX0132423
(Boston)
--------------------------------------------------------------------------------
BAYNETWORKS Baystack 102
(San Francisco)
--------------------------------------------------------------------------------
ACCTON (Boston) EN2041 444019909
--------------------------------------------------------------------------------
ACCTON (Boston) EN2042 448000315
--------------------------------------------------------------------------------
ACCTON (Boston) EN2043 444019912
--------------------------------------------------------------------------------
ACCTON (Boston) EN2044 445000399
--------------------------------------------------------------------------------
ACCTON (Boston) EN2045 448000263
--------------------------------------------------------------------------------
ATI (Atlanta) CentreCOM
3024TR
--------------------------------------------------------------------------------
ATI (Atlanta) CentreCOM F2MX7165E
3024TR
--------------------------------------------------------------------------------
ATI (Atlanta) CentreCOM S1797295A
3024SL
--------------------------------------------------------------------------------
ATI (Atlanta) CentreCOM S17F7295A
3024SL
--------------------------------------------------------------------------------
3COM 3C16950 0100/7ZLV6A2D38
(San Francisco)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SWITCHES
--------------------------------------------------------------------------------
BAYNETWORKS Baystack 303 Own
(Manhattan)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
ROUTERS
--------------------------------------------------------------------------------
BAYNETWORKS AN Own
(Chicago)
--------------------------------------------------------------------------------
BAYNETWORKS AN
(San Francisco)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
DSU
--------------------------------------------------------------------------------
KENTROX 658 Own
(Chicago)
--------------------------------------------------------------------------------
KENTROX(Boston) 658 Own
--------------------------------------------------------------------------------
KENTROX 658 Own
(Stamford)
--------------------------------------------------------------------------------
KENTROX 658 Own
(Manhattan)
--------------------------------------------------------------------------------
KENTROX 658 Own
(Atlanta)
--------------------------------------------------------------------------------
KENTROX Datasmart 658
(San Francisco)
--------------------------------------------------------------------------------
LIST C
Inventory of copier and facsimile machines
o Items listed in bold italics are either leased or owned by Renaissance
Worldwide, Inc.
o All other items listed below are either owned or leased under an Agreement
by Renaissance Worldwide Strategy, Inc.
--------------------------------------------------------------------------------
TYPE MODEL NO. SERIAL NO. LEASE / OWNED
--------------------------------------------------------------------------------
COPIERS
--------------------------------------------------------------------------------
Sharp (Boston) SD-2275 86200511 SHARP
000-0000000-000
--------------------------------------------------------------------------------
Sharp (Boston) SD-2275 86211935 SHARP
000-0000000-000
--------------------------------------------------------------------------------
Sharp SD-4085 IOS CAPITAL
(Atlanta) (xxxxxxxx XXXX
Xxxxxxx)
000000
--------------------------------------------------------------------------------
Sharp (Chicago) FO-2050 66200775
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
FACSIMILE
MACHINES
--------------------------------------------------------------------------------
Sharp (Atlanta) FO-3850 70104882
--------------------------------------------------------------------------------
Xerox Work Center
--------------------------------------------------------------------------------
Xerox (Chicago) Work Center 610 XXXXXX-00000-
XX-X
--------------------------------------------------------------------------------
Sharp (Boston) FO-6550 90100841
--------------------------------------------------------------------------------
Xxxxx (Xxxxxx) XX-0000 90100281
--------------------------------------------------------------------------------
Ricoh (Boston) 2500L 41000049
--------------------------------------------------------------------------------
Ricoh 30
--------------------------------------------------------------------------------
Omnifax (Boston) L41 L41-00513
--------------------------------------------------------------------------------
Sharp (Chicago) FO-4500 80105222
--------------------------------------------------------------------------------
Xerox Document Work 008488
(San Francisco) Center
--------------------------------------------------------------------------------
LIST D
Inventory of internal phone systems
o Unless otherwise noted, all items listed below are either owned or leased
under an Agreement by Renaissance Worldwide Strategy, Inc.
--------------------------------------------------------------------------------
TYPE LOCATION LEASE
--------------------------------------------------------------------------------
Partner II Colony Square Lucent
Atlanta, GA S415820-Sch. 10, 30, 40, 50, 60
Party to lease - COBA Group USA,
Ltd.*
--------------------------------------------------------------------------------
Norstar Key System 000 Xxxxxxx Xxxxxx XXXX Xxxx.
Xxxxxx, XX
Party to lease--Renaissance
Solutions, Inc.**
--------------------------------------------------------------------------------
Meridian Option 51C London, UK Own
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
* COBA Group USA, Ltd. was a subsidiary of Renaissance Worldwide Strategy, Inc.
Upon its dissolution, the duties and obligations were assumed by Renaissance
Worldwide Strategy, Inc.
** Renaissance Worldwide Strategy, Inc. f/k/a Renaissance Solutions, Inc.
LIST E
Inventory of software
o Items listed below are licensed by Renaissance Worldwide, Inc.
--------------------------------------------------------------------------------
PRODUCT COPIES LICENSE LICENSE
(VERSION) AUTHOR. # AGREEMENT #
--------------------------------------------------------------------------------
Exchange Client 12 10349223ARS9806 10517981
Access License (4.0)
--------------------------------------------------------------------------------
Exchange Client 4 10349223ARS9806 10518029
Access License (4.0)
--------------------------------------------------------------------------------
Exchange Client 10 10349223ARS9806 10518016
Access License (4.0)
--------------------------------------------------------------------------------
Exchange Client 15 10349223ARS9806 10518007
Access License (4.0)
--------------------------------------------------------------------------------
Exchange Client 15 10349223ARS9806 105170990
Access License (4.0)
--------------------------------------------------------------------------------
Exchange Client 10 10349223ARS9806 10517925
Access License (4.0)
--------------------------------------------------------------------------------
Exchange Client 10 10349223ARS9806 10518052
Access License (4.0)
--------------------------------------------------------------------------------
Exchange Client 18 10349223ARS9806 10518043
Access License (4.0)
--------------------------------------------------------------------------------
Exchange Client 18 10349223ARS9806 10517912
Access License (4.0)
--------------------------------------------------------------------------------
Exchange Client 65 10349223ARS9806 10536784
Access License (4.0)
--------------------------------------------------------------------------------
Exchange Client 15 10454262ARS9809 10594801
Access License (4.0)
--------------------------------------------------------------------------------
Exchange Server 1 10408117ARS9809 10536742
Enterprise
--------------------------------------------------------------------------------
Exchange Server 1 10408117ARS9809 10538355
Enterprise
--------------------------------------------------------------------------------
Exchange Server 4 10667231BRS9903 10863334
Enterprise
--------------------------------------------------------------------------------
Office Professional 53 160767100390
for Windows 95 and
Windows NT w/
Access (7.0)
--------------------------------------------------------------------------------
Office Professional 179 160767100390
for Windows 95 and
Windows NT w/
Access (7.0)
--------------------------------------------------------------------------------
Office Professional 7 160767100441
for Windows 95 and
Windows NT w/
Access (7.0)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Office Professional 5 160767100011
for Windows 95 and
Windows NT w/
Access (7.0)
--------------------------------------------------------------------------------
Office Professional 2 1607671101897
for 32-bit Win
English NA Sel
--------------------------------------------------------------------------------
Office Professional 4 1607671111597
for 32-bit Win
English NA Sel
--------------------------------------------------------------------------------
Office Professional 41 1607671111597
for 32-bit Win
English NA Sel
--------------------------------------------------------------------------------
Office Professional 5 1607671122397
WIN 32 English NA
Sel
--------------------------------------------------------------------------------
Office Professional 2 160767132398 1607671
WIN 32 English NA
Sel
--------------------------------------------------------------------------------
Office Professional 13 160767122198 1607671
WIN 32 English NA
Sel
--------------------------------------------------------------------------------
Office Professional 144 160767122198 1607671
WIN 32 English NA
Sel
--------------------------------------------------------------------------------
Office Professional 40 1607671111597
WIN32 English NA
Mnt Sel
--------------------------------------------------------------------------------
Office Professional 1464 160767122198 1607671
WIN32 English NA
Mnt Sel
--------------------------------------------------------------------------------
WIN NT Server 2 10349223ARS9806 10518029
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 2 10349223ARS9806 10518007
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 1 10349223ARS9806 10517990
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 1 10349223ARS9806 10517925
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 1 10349223ARS9806 10518052
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 1 10349223ARS9806 10517981
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 1 10349223ARS9806 10517912
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 1 10454262ARS9809 10594801
(3.51)
--------------------------------------------------------------------------------
WIN NT Server (4.0) 1 10349223ARS9806 10993260
--------------------------------------------------------------------------------
WIN NT Server 1 10789218BRS9903 10007123
(3.51)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
WIN NT Server 12 10349223ARS9806 10517981
Client Access License
(3.51)
--------------------------------------------------------------------------------
WIN NT Server
Client Access License 4 10349223ARS806 10518029
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 10 10349223ARS9806 10518016
Client Access License
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 15 10349223ARS9806 10518007
Client Access License
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 15 10349223ARS9806 10517990
Client Access License
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 10 10349223ARS9806 10517925
Client Access License
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 10 10349223ARS9806 10518052
Client Access License
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 18 10349223ARS9806 10518043
Client Access License
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 18 10349223ARS9806 10517912
Client Access License
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 65 10349223ARS9806 10536784
Client Access License
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 15 10454262ARS9809 10594801
Client Access License
(3.51)
--------------------------------------------------------------------------------
WIN NT Server 261 10768581BRS9903 10980943
Client Access License
(4.0)
--------------------------------------------------------------------------------
WIN 95 Upgrade 21 10573672ASS0003 10028305
form 3.x (95)
--------------------------------------------------------------------------------
LIST F
Inventory of office furniture and furnishings
o Items listed in bold italics are leased or owned by Renaissance Worldwide,
Inc.
o All other items listed below are either leased or owned by Renaissance
Worldwide Strategy, Inc.
November 30, 1999 Page
3:29 PM
Strategy - Atlanta
NET BOOK VALUE REPORT
In-Svc Dep Rem Unadjusted Salvage Curr Current Accum Pct
SYS No Co Desc Date Meth Life Basis Value Thru Depreciation Sec 179 Net Bk Value Dep
Asset No + S179 x
BOOK: INTERNAL FY: DECEMBER
200001 Misc Furni 10/31/93 SLHY 01 00 39725.00 0.00 10/99 33813.54 0.00 5911.46 85.1
200002 Misc Furni 11/01/93 SLHY 01 00 4210.18 0.00 10/99 3583.69 0.00 626.49 85.1
200003 Misc Furni 04/27/94 SLHY 01 08 777.00 0.00 10/99 592.00 0.00 185.00 76.2
200004 Misc Furni 05/02/94 SLHY 01 08 3904.45 0.00 10/99 2974.82 0.00 929.63 76.2
200005 Desk and F 09/13/95 SLHY 02 08 997.64 0.00 10/99 617.58 0.00 380.06 61.9
200006 2 Conferen 09/13/95 SLHY 02 08 537.60 0.00 10/99 332.80 0.00 204.80 61.9
200007 Misc Furni 11/01/95 SLHY 02 08 1300.00 0.00 10/99 804.78 0.00 495.22 61.9
200008 Premisys 11/30/95 SLHY 02 08 -5000.00 0.00 10/99 -3095.25 0.00 -1904.75 0.0
200010 2 Conferen 12/05/95 SLHY 02 08 537.60 0.00 10/99 332.80 0.00 204.80 61.9
200011 Misc Furni 12/12/95 SLHY 02 08 716.48 0.00 10/99 443.56 0.00 272.92 61.9
200012 Misc Furni 12/01/95 SLHY 02 08 2933.64 0.00 10/99 1816.06 0.00 1117.58 61.9
200013 Misc Furni 12/01/95 SLHY 02 08 1257.16 0.00 10/99 778.26 0.00 478.90 61.9
200014 Misc Furni 01/25/96 SLHY 03 08 1002.06 0.00 10/99 477.17 0.00 524.89 47.6
200019 Conference 10/21/96 SLHY 03 08 575.76 0.00 10/99 274.17 0.00 301.59 47.6
200025 Misc Furni 01/30/97 SLHY 04 08 1262.67 0.00 10/99 420.88 0.00 841.79 33.3
200038 Misc Furni 08/14/97 SLHY 04 08 1916.87 0.00 10/99 638.96 0.00 1277.91 33.3
200043 Misc Furni 09/30/97 SLHY 04 08 2195.21 0.00 10/99 731.73 0.00 1463.48 33.3
200044 Misc Furni 10/14/97 SLHY 04 08 6994.61 0.00 10/99 2331.54 0.00 4663.07 33.3
200046 Misc Furni 11/03/97 SLHY 04 08 1000.00 0.00 10/99 333.34 0.00 666.66 33.3
200047 Misc Furni 11/11/97 SLHY 04 08 2186.12 0.00 10/99 728.70 0.00 1457.42 33.3
200048 Misc Furni 11/14/97 SLHY 04 08 1821.14 0.00 10/99 607.04 0.00 1214.10 33.3
200049 Misc Furni 11/18/97 SLHY 04 08 1239.15 0.00 10/99 413.04 0.00 826.11 33.3
200050 Misc Furni 11/30/97 SLHY 04 08 1024.33 0.00 10/99 341.44 0.00 682.89 33.3
200056 Misc Furni 12/10/97 SLHY 04 08 3770.68 0.00 10/99 1256.90 0.00 2513.78 33.3
200057 Misc Furni 12/12/97 SLHY 04 08 1736.24 0.00 10/99 578.76 0.00 1157.48 33.3
200058 Misc Furni 12/27/97 SLHY 04 08 3188.12 0.00 10/99 1062.71 0.00 2125.41 33.3
200059 Misc Furni 12/27/97 SLHY 04 08 1424.00 0.00 10/99 474.67 0.00 949.33 33.3
200064 Misc Furni 12/10/97 SLHY 04 08 1453.86 0.00 10/99 484.63 0.00 969.23 33.3
200065 Misc Furni 12/15/97 SLHY 04 08 2189.87 0.00 10/99 729.96 0.00 1459.91 33.3
200067 Misc Furni 01/02/98 SLHY 05 08 928.75 0.00 10/99 176.90 0.00 751.85 19.0
200073 Misc Furni 02/05/98 SLHY 05 08 319.93 0.00 10/99 60.94 0.00 258.99 19.0
200076 Misc Furni 03/25/98 SLHY 05 08 400.00 0.00 10/99 76.18 0.00 323.82 19.0
200077 4 office c 04/15/98 SLHY 05 08 838.96 0.00 10/99 159.80 0.00 679.16 19.0
-------- ---- -------- ---- --------
Location Atlanta Count= 33 89365.08 0.00 55354.10 0.00 34010.98
Less disposals 0.00 0.00 0.00 0.00 0.00
-------- ---- -------- ---- --------
Net 89365.08 0.00 55354.10 0.00 34010.98
======== ==== ======== ==== ========
Grand Total Count= 33 89365.08 0.00 55354.10 0.00 34010.98
Less disposals 0.00 0.00 0.00 0.00 0.00
-------- ---- -------- ---- --------
Net 89365.08 0.00 55354.10 0.00 34010.98
======== ==== ======== ==== ========
Calculation Assumptions
--------------------------------------------------------------------------------
Book Short Years Midquarter Convention Adjustment Convention
---- ----------- --------------------- ---------------------
Internal [Y] [N] None
Asset Grouping/Sorting
--------------------------------------------------------------------------------
Group: Furniture & Fixtures
Include Assets that meet the following conditions:
Class is FF
Sort Assets by:
Location in ascending order and report subtotals
November 30, 1999 Page
3:29 PM
Strategy - Atlanta
NET BOOK VALUE REPORT
In-Svc Dep Rem Unadjusted Salvage Curr Current Accum Pct
SYS No Co Desc Date Meth Life Basis Value Thru Depreciation Sec 179 Net Bk Value Dep
Asset No + S179 x
BOOK: INTERNAL FY: DECEMBER
200009 Telephones 12/04/95 SLHY 00 08 559.25 0.00 10/99 484.68 0.00 74.57 86.7
200051 Telephones 11/10/97 SLHY 02 08 349.46 0.00 10/99 163.08 0.00 186.38 46.7
200063 Telephone 12/10/97 SLHY 02 08 128.38 0.00 10/99 59.92 0.00 68.46 46.7
200070 Digital Te 01/12/98 SLHY 03 08 781.95 0.00 10/99 208.52 0.00 573.43 26.7
200074 Misc Equip 02/17/98 SLHY 03 08 272.85 0.00 10/99 72.76 0.00 200.09 26.7
200075 Misc Equip 03/01/98 SLHY 03 08 1016.23 0.00 10/99 270.99 0.00 745.24 26.7
-------- ---- -------- ---- --------
Location Atlanta Count= 6 3108.12 0.00 1259.95 0.00 1848.17
Less disposals 0.00 0.00 0.00 0.00 0.00
-------- ---- -------- ---- --------
Net 3108.12 0.00 1259.95 0.00 1848.17
======== ==== ======== ==== ========
Grand Total Count= 6 3108.12 0.00 1259.95 0.00 1848.17
Less disposals 0.00 0.00 0.00 0.00 0.00
-------- ---- -------- ---- --------
Net 3108.12 0.00 1259.95 0.00 1848.17
======== ==== ======== ==== ========
Calculation Assumptions
--------------------------------------------------------------------------------
Book Short Years Midquarter Convention Adjustment Convention
---- ----------- --------------------- ---------------------
Internal [Y] [N] None
Asset Grouping/Sorting
--------------------------------------------------------------------------------
Group: Machinery & Equipment
Include Assets that meet the following conditions:
Class is M
Sort Assets by:
Location in ascending order and report subtotals
November 30, 1999 Page
4:19 PM
Renaissance Solutions, Inc.
NET BOOK VALUE REPORT
In-Svc Dep Rem Unadjusted Salvage Curr Current Accum Pct
SYS No Co Desc Date Meth Life Basis Value Thru Depreciation Sec 179 Net Bk Value Dep
Asset No + S179 x
BOOK: INTERNAL FY: DECEMBER
000433 Carpeting 03/01/96 SLHY 03 08 23493.48 0.00 10/99 11187.37 0.00 12306.11 47.6
000447 Work Surfa 04/01/96 SLHY 03 08 36944.95 0.00 10/99 17592.83 0.00 19352.12 47.6
000448 4 tables 04/01/96 SLHY 03 08 1813.90 0.00 10/99 863.77 0.00 950.13 47.6
000449 Table & Ch 04/01/96 SLHY 03 08 2892.66 0.00 10/99 1377.46 0.00 1515.20 47.6
000451 Work Surfa 05/01/96 SLHY 03 08 25006.95 0.00 10/99 11908.06 0.00 13098.89 47.6
000461 1" Blinds 05/01/96 SLHY 03 08 1794.38 0.00 10/99 854.46 0.00 939.92 47.6
000469 Work Surfa 05/01/96 SLHY 03 08 2046.46 0.00 10/99 974.50 0.00 1071.96 47.6
000525 Work Surfa 08/09/96 SLHY 03 08 4328.46 0.00 10/99 2061.17 0.00 2267.29 47.6
000526 Work Surfa 08/09/96 SLHY 03 08 -2819.88 0.00 10/99 -1342.80 0.00 -1477.08 0.0
000527 Work Surfa 08/19/96 SLHY 03 08 710.01 0.00 10/99 338.10 0.00 371.91 47.6
000528 Work Surfa 08/08/96 SLHY 03 08 910.35 0.00 10/99 433.50 0.00 476.85 47.6
000787 Table Top, 11/20/97 SLHY 04 08 7777.36 0.00 10/99 2592.45 0.00 5184.91 33.3
000817 Misc. Furn 12/18/97 SLHY 04 08 20487.15 0.00 10/99 6829.06 0.00 13658.09 33.3
000818 Misc Furni 12/30/97 SLHY 04 08 1045.65 0.00 10/99 348.55 0.00 697.10 33.3
000819 Misc Furni 11/03/97 SLHY 04 08 7328.10 0.00 10/99 2442.70 0.00 4885.40 33.3
000820 Misc Furni 10/01/97 SLHY 04 08 36174.81 0.00 10/99 12058.27 0.00 24116.54 33.3
000842 Partitions 12/31/97 SLHY 04 08 5050.00 0.00 10/99 1683.34 0.00 3366.66 33.3
000843 Partitions 01/30/98 SLHY 05 08 2840.00 0.00 10/99 540.96 0.00 2299.04 19.0
000861 Misc Furni 04/20/98 SLHY 05 08 7850.00 0.00 10/99 1495.24 0.00 6354.76 19.0
000866 Misc Furni 12/03/97 SLHY 04 08 1525.73 0.00 10/99 508.57 0.00 1017.16 33.3
000867 Misc Furni 03/23/98 SLHY 05 08 1447.33 0.00 10/99 275.68 0.00 1171.65 19.0
000868 Misc Furni 12/23/97 SLHY 04 08 1838.46 0.00 10/99 612.82 0.00 1225.64 33.3
000869 Misc Furni 03/09/98 SLHY 05 08 10531.48 0.00 10/99 2006.00 0.00 8525.48 19.0
000870 Misc Furni 03/03/98 SLHY 05 08 1408.68 0.00 10/99 268.32 0.00 1140.36 19.0
000871 Misc Furni 01/23/98 SLHY 05 08 8548.57 0.00 10/99 1628.30 0.00 6920.27 19.0
000872 Misc Furni 02/10/98 SLHY 05 08 12153.18 0.00 10/99 2314.89 0.00 9838.29 19.0
--------- ---- -------- ---- ---------
Location Chicago Count= 26 223128.22 0.00 81853.57 0.00 141274.65
Less disposals 0.00 0.00 0.00 0.00 0.00
--------- ---- -------- ---- ---------
Net 223128.22 0.00 81853.57 0.00 141274.65
--------- ---- -------- ---- ---------
000041 Work surfa 03/01/92 SLHY 00 00 3420.00 0.00 10/99 3420.00 0.00 0.00 100.0
000042 Laterals 04/01/92 SLHY 00 00 2969.67 0.00 10/99 2969.67 0.00 0.00 100.0
000043 Laterals 04/01/92 SLHY 00 00 1014.30 0.00 10/99 1014.30 0.00 0.00 100.0
000044 Laterals 04/01/92 SLHY 00 00 2234.40 0.00 10/99 2234.40 0.00 0.00 100.0
000045 FAX Stand 04/01/92 SLHY 00 00 292.95 0.00 10/99 292.95 0.00 0.00 100.0
000046 Business I 01/01/93 SLHY 00 08 970.90 0.00 10/99 878.43 0.00 92.47 90.5
000047 Resources 01/01/93 SLHY 00 08 6062.15 0.00 10/99 5484.80 0.00 577.35 90.5
000048 Business I 01/01/93 SLHY 00 08 2277.00 0.00 10/99 2060.16 0.00 216.84 90.5
000049 Business I 04/01/93 SLHY 00 08 519.75 0.00 10/99 470.25 0.00 49.50 90.5
000050 Sun Micros 08/01/93 SLHY 00 08 75000.00 0.00 10/99 67857.16 0.00 7142.84 90.5
000051 Xxxxxxx Of 10/01/93 SLHY 00 08 13828.20 0.00 10/99 12511.23 0.00 1316.97 90.5
000052 Xxxxxxx Of 10/01/93 SLHY 00 08 21335.45 0.00 10/99 19303.49 0.00 2031.96 90.5
000053 Furniture 12/01/93 SLHY 00 08 1770.70 0.00 10/99 1602.08 0.00 168.62 90.5
000054 Furniture 12/01/93 SLHY 00 08 8993.34 0.00 10/99 8136.82 0.00 856.52 90.5
000055 Tel Tables 01/01/94 SLHY 01 08 139.88 0.00 10/99 106.56 0.00 33.32 76.2
000056 Conference 02/01/94 SLHY 01 08 886.20 0.00 10/99 675.20 0.00 211.00 76.2
000057 Desk Acces 02/01/94 SLHY 01 08 275.00 0.00 10/99 209.54 0.00 65.46 76.2
000058 Desk 02/01/94 SLHY 01 08 1770.70 0.00 10/99 1349.12 0.00 421.58 76.2
000059 Chairs 02/01/94 SLHY 01 08 315.00 0.00 10/99 240.00 0.00 75.00 76.2
000060 Chairs 02/01/94 SLHY 01 08 1575.00 0.00 10/99 1200.00 0.00 375.00 76.2
000061 Recpt Stat 03/01/94 SLHY 01 08 1150.45 0.00 10/99 876.53 0.00 273.92 76.2
000062 Desks, Work 04/01/94 SLHY 01 08 6063.25 0.00 10/99 4619.62 0.00 1443.63 76.2
000063 Chairs & T 04/01/94 SLHY 01 08 617.00 0.00 10/99 470.08 0.00 146.92 76.2
000064 Marker Boa 04/01/94 SLHY 01 08 4140.15 0.00 10/99 3154.40 0.00 985.75 76.2
000065 Installati 05/01/94 SLHY 01 08 6400.00 0.00 10/99 4876.20 0.00 1523.80 76.2
000066 Tutor Tabl 06/01/94 SLHY 01 08 7606.25 0.00 10/99 5795.24 0.00 1811.01 76.2
000067 Drawer Ass 07/01/94 SLHY 01 08 12150.43 0.00 10/99 9257.49 0.00 2892.94 76.2
000068 Chrome Bas 09/01/94 SLHY 01 08 840.00 0.00 10/99 640.00 0.00 200.00 76.2
000069 Tutor Tabl 10/01/94 SLHY 01 08 4898.25 0.00 10/99 3732.00 0.00 1166.25 76.2
000070 Cubicals 10/01/94 SLHY 01 08 14987.45 0.00 10/99 11419.03 0.00 3568.42 76.2
000071 Cubicals 10/01/94 SLHY 01 08 41422.25 0.00 10/99 31559.83 0.00 9862.42 76.2
000000 Xxxxx XxX 10/01/94 SLHY 01 08 216.10 0.00 10/99 164.64 0.00 51.46 76.2
000073 Cherry Uti 11/01/94 SLHY 01 08 755.35 0.00 10/99 575.51 0.00 179.84 76.2
000074 Phase II C 11/01/94 SLHY 01 08 8105.00 0.00 10/99 6175.25 0.00 1929.75 76.2
000075 Cart & Maho 12/01/94 SLHY 01 08 1442.70 0.00 10/99 1099.20 0.00 343.50 76.2
000076 36 Chairs 12/01/94 SLHY 01 08 18715.62 0.00 10/99 14259.52 0.00 4456.10 76.2
000077 1 Base & C 12/01/94 SLHY 01 08 1303.42 0.00 10/99 993.06 0.00 310.36 76.2
000078 Cubical Fi 02/01/95 SLHY 02 08 5720.19 0.00 10/99 3541.07 0.00 2179.12 61.9
000079 Work Surfa 02/01/95 SLHY 02 08 16429.90 0.00 10/99 10170.90 0.00 6259.00 61.9
000307 Panels, Po 03/01/95 SLHY 02 08 25403.53 0.00 10/99 15726.01 0.00 9677.52 61.9
000349 3 Lateral 09/01/95 SLHY 02 08 1674.75 0.00 10/99 1036.75 0.00 638.00 61.9
000372 Work Surfa 01/01/96 SLHY 01 08 17393.14 0.00 10/99 11595.42 0.00 5797.72 66.7
000373 Work Surfa 01/01/96 SLHY 03 08 31012.91 0.00 10/99 14768.06 0.00 16244.85 47.6
000374 Work Surfa 01/01/96 SLHY 03 08 80013.30 0.00 10/99 38101.57 0.00 41911.73 47.6
000375 Work Surfa 01/01/96 SLHY 03 08 29681.57 0.00 10/99 14134.09 0.00 15547.48 47.6
000376 Work Surfa 01/01/96 SLHY 03 08 5433.76 0.00 10/99 2587.50 0.00 2846.26 47.6
000420 FurnaTURE 02/01/96 SLHY 03 08 1378.92 0.00 10/99 656.63 0.00 722.29 47.6
000421 fURNATURE 02/01/96 SLHY 03 08 2311.09 0.00 10/99 1100.53 0.00 1210.56 47.6
000422 SYS FURN, 02/01/96 SLHY 03 08 12921.00 0.00 10/99 6152.86 0.00 6768.14 47.6
000428 Install Ke 03/01/96 SLHY 03 08 710.00 0.00 10/99 338.10 0.00 371.90 47.6
000429 Fgt on Cop 03/01/96 SLHY 03 08 70.56 0.00 10/99 33.60 0.00 36.96 47.6
000430 2 Copyboar 03/01/96 SLHY 03 08 2940.00 0.00 10/99 1400.00 0.00 1540.00 47.6
000431 Work Surfa 03/01/96 SLHY 03 08 6349.93 0.00 10/99 3023.77 0.00 3326.16 47.6
000432 Freight 03/01/96 SLHY 03 08 265.72 0.00 10/99 126.53 0.00 139.19 47.6
000441 Work Surfa 01/01/96 SLHY 03 08 14389.54 0.00 10/99 6852.17 0.00 7537.37 47.6
000450 Installati 04/01/96 SLHY 03 08 12070.25 0.00 10/99 5747.73 0.00 6322.52 47.6
000460 Shelving 06/01/96 SLHY 03 08 1570.00 0.00 10/99 747.62 0.00 822.38 47.6
000462 2 Electron 06/01/96 SLHY 03 08 1526.32 0.00 10/99 726.82 0.00 799.50 47.6
000475 Work Surfa 01/01/96 SLHY 03 08 10120.80 0.00 10/99 4819.43 0.00 5301.37 47.6
000480 Work Surfa 07/01/96 SLHY 03 08 21573.46 0.00 10/99 10273.06 0.00 11300.40 47.6
000502 Work Surfa 08/01/96 SLHY 03 08 79478.85 0.00 10/99 37847.06 0.00 41631.79 47.6
000537 Lateral Fi 10/07/96 SLHY 03 08 5110.19 0.00 10/99 2433.42 0.00 2676.77 47.6
000538 Cabinets/C 10/22/96 SLHY 03 08 5000.60 0.00 10/99 2381.23 0.00 2619.37 47.6
000539 Work Surfa 10/16/96 SLHY 03 08 7557.31 0.00 10/99 3598.73 0.00 3958.58 47.6
000540 Work Surfa 10/22/96 SLHY 03 08 3778.75 0.00 10/99 1799.40 0.00 1979.35 47.6
000544 Work Surfa 11/11/96 SLHY 03 08 1685.50 0.00 10/99 802.62 0.00 882.88 47.6
000563 Shelving U 01/30/97 SLHY 04 08 1052.71 0.00 10/99 350.90 0.00 701.81 33.3
000566 Lateral Fi 01/15/97 SLHY 04 08 2091.60 0.00 10/99 697.20 0.00 1394.40 33.3
000695 4 HI Later 03/21/97 SLHY 04 08 1476.02 0.00 10/99 492.00 0.00 984.02 33.3
000716 6 Panel Pi 03/12/97 SLHY 04 08 4099.33 0.00 10/99 1366.44 0.00 2732.89 33.3
000717 1 File Cab 03/20/97 SLHY 04 08 636.83 0.00 10/99 212.28 0.00 424.55 33.3
000718 5 Tables & 04/22/97 SLHY 04 08 18617.70 0.00 10/99 6205.90 0.00 12411.80 33.3
000719 1 Table & 04/18/97 SLHY 04 08 5738.30 0.00 10/99 1912.77 0.00 3825.53 33.3
000722 2 blackout 05/16/97 SLHY 04 08 287.00 0.00 10/99 95.66 0.00 191.34 33.3
000723 3 chairs 03/25/97 SLHY 04 08 1334.03 0.00 10/99 444.68 0.00 889.35 33.3
000724 8 cubicle 03/11/97 SLHY 04 08 671.33 0.00 10/99 223.78 0.00 447.55 33.3
000725 27 cubicle 03/25/97 SLHY 04 08 304.89 0.00 10/99 101.64 0.00 203.25 33.3
000729 5 tables & 01/17/97 SLHY 04 08 20000.00 0.00 10/99 6666.66 0.00 13333.34 33.3
000732 tables, lo 06/04/97 SLHY 04 08 80252.99 0.00 10/99 26750.99 0.00 53502.00 33.3
000733 cubicle pi 06/14/97 SLHY 04 08 8100.71 0.00 10/99 2700.24 0.00 5400.47 33.3
000745 Core holes 06/30/97 SLHY 04 08 2073.54 0.00 10/99 691.18 0.00 1382.36 33.3
000746 Bookcases 06/25/97 SLHY 04 08 6644.02 0.00 10/99 2214.67 0.00 4429.35 33.3
000747 cubicle pi 06/11/97 SLHY 04 08 686.83 0.00 10/99 228.94 0.00 457.89 33.3
000748 cubicle pi 06/06/97 SLHY 04 08 918.95 0.00 10/99 306.32 0.00 612.63 33.3
000776 Misc Furni 09/11/97 SLHY 04 08 6880.00 0.00 10/99 2293.34 0.00 4586.66 33.3
000788 File Cabin 11/17/97 SLHY 04 08 1056.30 0.00 10/99 352.10 0.00 704.20 33.3
000860 Misc Furni 04/20/98 SLHY 05 08 1040.35 0.00 10/99 198.16 0.00 842.19 19.0
000902 OFFICE FUR 10/05/98 SLHY 05 08 9301.90 0.00 10/99 1771.78 0.00 7530.12 19.0
000906 Filing Cab 07/01/98 SLHY 05 08 16586.47 0.00 10/99 3159.33 0.00 13427.14 19.0
000907 OFFICE FUR 12/24/98 SLHY 05 08 3481.00 0.00 10/99 663.04 0.00 2817.96 19.0
000908 OFFICE FUR 02/27/99 SLHY 06 08 11434.60 0.00 10/99 668.25 0.00 10766.35 5.8
--------- ---- --------- ---- ---------
Location Lincoln Count= 91 884803.50 0.00 494974.69 0.00 389828.81
Less disposals 0.00 0.00 0.00 0.00 0.00
--------- ---- --------- ---- ---------
Net 884803.50 0.00 494974.69 0.00 389828.81
--------- ---- --------- ---- ---------
000575 3 Data Cab 08/31/93 SLHY 00 08 7528.03 0.00 10/99 6811.06 0.00 716.97 90.5
000576 8 Medium, 12/07/93 SLHY 00 08 7560.00 0.00 10/99 6840.00 0.00 720.00 90.5
000577 2 Overstor 05/26/94 SLHY 01 08 7094.63 0.00 10/99 5405.44 0.00 1689.19 76.2
000578 6 Chairs 0 08/08/94 SLHY 01 08 3454.35 0.00 10/99 2631.89 0.00 822.46 76.2
000579 1 Hanging 08/03/95 SLHY 02 08 2926.11 0.00 10/99 1811.42 0.00 1114.69 61.9
000580 6 GEI100 P 09/07/95 SLHY 02 08 12001.32 0.00 10/99 7429.41 0.00 4571.91 61.9
000581 6 GEI100 P 09/07/95 SLHY 02 08 8407.92 0.00 10/99 5204.90 0.00 3203.02 61.9
000582 3 GEI100 G 09/07/95 SLHY 02 08 6597.44 0.00 10/99 4084.12 0.00 2513.32 61.9
000583 1 GEI100 S 09/07/95 SLHY 02 08 1303.80 0.00 10/99 807.12 0.00 496.68 61.9
000584 4 GEI100 J 09/07/95 SLHY 02 08 2798.40 0.00 10/99 1732.34 0.00 1066.06 61.9
000585 2 GEI100 P 09/07/95 SLHY 02 08 3754.52 0.00 10/99 2324.22 0.00 1430.30 61.9
000586 2 GEI100 P 09/07/95 SLHY 02 08 2438.00 0.00 10/99 1509.25 0.00 928.75 61.9
000587 2 GEI100 U 09/07/95 SLHY 02 08 3737.56 0.00 10/99 2313.74 0.00 1423.82 61.9
000588 2 GEI100 P 09/07/95 SLHY 02 08 2618.20 0.00 10/99 1620.80 0.00 997.40 61.9
000589 4 Jewel S1 09/07/95 SLHY 02 08 2798.40 0.00 10/99 1732.34 0.00 1066.06 61.9
000590 8 HOW100 9 09/07/95 SLHY 02 08 11744.80 0.00 10/99 7270.60 0.00 4474.20 61.9
000591 40 0FS102 09/07/95 SLHY 02 08 9200.80 0.00 10/99 5695.73 0.00 3505.07 61.9
000592 GEI100 30" 09/07/95 SLHY 02 08 1590.00 0.00 10/99 984.27 0.00 605.73 61.9
000593 1 GEI100 P 09/07/95 SLHY 02 08 2130.60 0.00 10/99 1318.94 0.00 811.66 61.9
000594 1 GEI100 L 09/07/95 SLHY 02 08 1343.02 0.00 10/99 831.39 0.00 511.63 61.9
000595 1 GEI100 P 09/07/95 SLHY 02 08 1987.50 0.00 10/99 1230.36 0.00 757.14 61.9
000596 4 GEI100 3 09/07/95 SLHY 02 08 3336.88 0.00 10/99 2065.70 0.00 1271.18 61.9
000597 1 JG100 Wo 09/07/95 SLHY 02 08 39622.80 0.00 10/99 24528.40 0.00 15094.40 61.9
000598 7 Work Cha 09/07/95 SLHY 02 08 5015.92 0.00 10/99 3105.09 0.00 1910.83 61.9
000599 6 OFS 1025 09/07/95 SLHY 02 08 4095.84 0.00 10/99 2535.52 0.00 1560.32 61.9
000600 3 0FS1025 09/07/95 SLHY 02 08 2318.22 0.00 10/99 1435.11 0.00 883.11 61.9
000601 14 HAR101 09/07/95 SLHY 02 08 18847.86 0.00 10/99 11667.72 0.00 7180.14 61.9
000602 2 GEI100 H 09/07/95 SLHY 02 08 2618.20 0.00 10/99 1620.80 0.00 997.40 61.9
000603 15 GEI100 09/07/95 SLHY 02 08 11893.20 0.00 10/99 7362.46 0.00 4530.74 61.9
000604 Installati 09/07/95 SLHY 02 08 7740.12 0.00 10/99 4791.50 0.00 2948.62 61.9
000605 2 Decorati 01/15/96 SLHY 03 08 1722.93 0.00 10/99 820.43 0.00 902.50 47.6
000606 1 NEV100 N 02/01/96 SLHY 03 08 2400.90 0.00 10/99 1143.29 0.00 1257.61 47.6
000607 2 CYR100 S 04/26/96 SLHY 03 08 5380.56 0.00 10/99 2562.17 0.00 2818.39 47.6
000608 2 GEIIOO G 03/22/96 SLHY 03 08 4940.66 0.00 10/99 2352.70 0.00 2587.96 47.6
000609 Visual Dis 03/19/96 SLHY 03 08 3275.40 0.00 10/99 1559.73 0.00 1715.67 47.6
000610 3 OFS102 S 02/22/96 SLHY 03 08 2047.92 0.00 10/99 975.20 0.00 1072.72 47.6
000611 3 OFS102 S 02/22/96 SLHY 03 08 2318.22 0.00 10/99 1103.93 0.00 1214.29 47.6
000612 2 GEI100 3 02/28/96 SLHY 03 08 4023.76 0.00 10/99 1916.06 0.00 2107.70 47.6
000613 2 GEI100 R 02/28/96 SLHY 03 08 2605.48 0.00 10/99 1240.70 0.00 1364.78 47.6
000614 1 GEI100 C 02/28/96 SLHY 03 08 1661.02 0.00 10/99 790.97 0.00 870.05 47.6
000615 BIBER Adju 09/07/96 SLHY 03 08 6737.38 0.00 10/99 3208.26 0.00 3529.12 47.6
000616 3 Light Fi 03/31/96 SLHY 03 08 1139.50 0.00 10/99 542.62 0.00 596.88 47.6
000617 1 GEI100 G 03/31/96 SLHY 03 08 3874.30 0.00 10/99 1844.90 0.00 2029.40 47.6
000688 25 drawer 02/09/94 SLHY 01 08 3040.56 0.00 10/99 2316.63 0.00 723.93 76.2
---------- ---- --------- ---- ---------
Location Stamford Count= 44 243673.03 0.00 151079.23 0.00 92593.80
Less disposals 0.00 0.00 0.00 0.00 0.00
---------- ---- --------- ---- ---------
Net 243673.03 0.00 151079.23 0.00 92593.80
========== ==== ========= ==== =========
Grand Total Count= 161 1351604.75 0.00 727907.49 0.00 623697.26
Less disposals 0.00 0.00 0.00 0.00 0.00
---------- ---- --------- ---- ---------
Net 1351604.75 0.00 727907.49 0.00 623697.26
========== ==== ========= ==== =========
Calculation Assumptions
--------------------------------------------------------------------------------
Book Short Years Midquarter Convention Adjustment Convention
---- ----------- --------------------- ---------------------
Internal [Y] [N] None
Asset Grouping/Sorting
--------------------------------------------------------------------------------
Group: Furniture & Fixtures
Include Assets that meet the following conditions:
Class is FF
Sort Assets by:
Location in ascending order and report subtotals
November 30, 1999 Page
4:19PM
Renaissance Solutions, Inc.
NET BOOK VALUE REPORT
In-Svc Dep Rem Unadjusted Salvage Curr Current Accum Pct
SYS No Co Desc Date Meth Life Basis Value Thru Depreciation Sec 179 Net Bk Value Dep
Asset No + S179 x
BOOK: INTERNAL FY: DECEMBER
000470 Security S 06/01/96 SLHY 01 08 5714.00 0.00 10/99 3809.33 0.00 1904.67 66.7
000471 Telephone 05/01/96 SLHY 01 08 5530.00 0.00 10/99 3686.66 0.00 1843.34 66.7
000478 Fax Machin 02/01/96 SLHY 01 08 746.91 0.00 10/99 497.93 0.00 248.98 66.7
000703 Remote Doo 03/31/97 SLHY 02 08 979.27 0.00 10/99 456.98 0.00 522.29 46.7
000841 Security S 11/26/97 SLHY 02 08 1156.67 0.00 10/99 539.77 0.00 616.90 46.7
000000 Xxxxxxxxxx 04/20/98 SLHY 03 08 31655.00 0.00 10/99 8441.33 0.00 23213.67 26.7
000884 1 Xxxxx Xx 06/22/98 SLHY 03 08 1644.75 0.00 10/99 438.60 0.00 1206.15 26.7
000904 Computers 07/01/98 SLHY 03 08 3786.51 0.00 10/99 1009.73 0.00 2776.78 26.7
000912 Claricom - 05/01/99 SLMM 09 06 5000.22 0.00 10/99 250.01 0.00 4750.21 5.0
-------- ---- -------- ---- --------
Location Chicago Count= 9 56213.33 0.00 19130.34 0.00 37082.99
Less disposals 0.00 0.00 0.00 0.00 0.00
-------- ---- -------- ---- --------
Net 56213.33 0.00 19130.34 0.00 37082.99
-------- ---- -------- ---- --------
000001 Telephone 03/25/92 SLHY 00 00 23726.50 0.00 10/99 23726.50 0.00 0.00 100.0
000002 Telephone 04/01/92 SLHY 00 00 12240.50 0.00 10/99 12240.50 0.00 0.00 100.0
000003 IBIC Bindi 07/01/92 SLHY 00 00 1423.80 0.00 10/99 1423.80 0.00 0.00 100.0
000004 Prime Tele 01/01/93 SLHY 00 00 2554.75 0.00 10/99 2554.75 0.00 0.00 100.0
000005 Digital Ca 06/01/93 SLHY 00 00 1500.00 0.00 10/99 1500.00 0.00 0.00 100.0
000006 Digital Se 06/01/93 SLHY 00 00 1740.00 0.00 10/99 1740.00 0.00 0.00 100.0
000007 Tax 06/01/93 SLHY 00 00 162.00 0.00 10/99 162.00 0.00 0.00 100.0
000008 Overhead/C 06/01/93 SLHY 00 00 737.65 0.00 10/99 737.65 0.00 0.00 100.0
000009 Panasonic 06/01/93 SLHY 00 00 650.00 0.00 10/99 650.00 0.00 0.00 100.0
000010 Sta LC & S 11/01/93 SLHY 00 00 2446.75 0.00 10/99 2446.75 0.00 0.00 100.0
000011 Install Te 11/01/93 SLHY 00 00 2940.00 0.00 10/99 2940.00 0.00 0.00 100.0
000012 Install Ne 11/01/93 SLHY 00 00 3660.00 0.00 10/99 3660.00 0.00 0.00 100.0
000013 Install Pr 11/01/93 SLHY 00 00 2922.25 0.00 10/99 2922.25 0.00 0.00 100.0
000014 Binding Ma 12/01/93 SLHY 00 00 1633.80 0.00 10/99 1633.80 0.00 0.00 100.0
000015 Upgrade Vo 12/01/93 SLHY 00 00 3045.00 0.00 10/99 3045.00 0.00 0.00 100.0
000016 Electric C 12/01/93 SLHY 00 00 4690.65 0.00 10/99 4690.65 0.00 0.00 100.0
000017 StacLC/6SS 03/01/94 SLHY 00 00 3155.75 0.00 10/99 3155.75 0.00 0.00 100.0
000018 Ricoh Copi 03/01/94 SLHY 00 08 2847.60 0.00 10/98 2278.08 0.00 569.52 80.0
000019 HP LJ 4S1 04/01/94 SLHY 00 00 5594.63 0.00 10/99 5594.63 0.00 0.00 100.0
000020 Proxima De 04/01/94 SLHY 00 08 8955.00 0.00 10/98 7164.00 0.00 1791.00 80.0
000021 Corinth ha 05/01/94 SLHY 00 00 966.00 0.00 10/99 966.00 0.00 0.00 100.0
000022 ONS 12 Por 05/01/94 SLHY 00 00 2249.75 0.00 10/99 2249.75 0.00 0.00 100.0
000023 Electronic 06/01/94 SLHY 00 00 4696.87 0.00 10/99 4696.87 0.00 0.00 100.0
000024 Proxima Eq 06/01/94 SLHY 00 08 1070.00 0.00 10/98 856.00 0.00 214.00 80.0
000025 Tel Trex E 06/01/94 SLHY 00 00 960.00 0.00 10/99 960.00 0.00 0.00 100.0
000026 System Tra 06/01/94 SLHY 00 00 2261.85 0.00 10/99 2261.85 0.00 0.00 100.0
000027 Add 3 SS4D 08/01/94 SLHY 00 00 6167.25 0.00 10/99 6167.25 0.00 0.00 100.0
000028 ONS Card a 09/01/94 SLHY 00 00 3711.75 0.00 10/99 3711.75 0.00 0.00 100.0
000029 Sony BM 80 09/01/94 SLHY 00 00 414.75 0.00 10/99 414.75 0.00 0.00 100.0
000030 COV SuperS 10/01/94 SLHY 00 00 1575.00 0.00 10/99 1575.00 0.00 0.00 100.0
000031 4PortExp 10/01/94 SLHY 00 00 5880.00 0.00 10/99 5880.00 0.00 0.00 100.0
000032 HP LJ 4M+ 10/01/94 SLHY 00 00 4475.57 0.00 10/99 4475.57 0.00 0.00 100.0
000033 10 TelTrek 11/01/94 SLHY 00 00 1200.00 0.00 10/99 1200.00 0.00 0.00 100.0
000034 Marantz Re 11/01/94 SLHY 00 00 393.75 0.00 10/99 393.75 0.00 0.00 100.0
000035 Sony BM-23 12/01/94 SLHY 00 00 476.70 0.00 10/99 476.70 0.00 0.00 100.0
000036 2 HP Laser 01/01/95 SLHY 00 08 4461.97 0.00 10/99 3867.02 0.00 594.95 86.7
000037 3 HP Laser 01/01/95 SLHY 00 08 2218.42 0.00 10/99 1922.61 0.00 295.81 86.7
000038 Video Conf 01/01/95 SLHY 00 08 44220.00 0.00 10/99 38324.00 0.00 5896.00 86.7
000039 2 HP Laser 03/01/95 SLHY 00 08 4221.82 0.00 10/99 3658.89 0.00 562.93 86.7
000040 HP Laser P 03/01/95 SLHY 00 08 2126.99 0.00 10/99 1843.40 0.00 283.59 86.7
000000 XXX Xxxx X 03/01/95 SLHY 00 08 3459.75 0.00 10/99 2998.45 0.00 461.30 86.7
000309 ONS 12 Por 04/01/95 SLHY 00 08 2493.00 0.00 10/99 2160.60 0.00 332.40 86.7
000310 4 Port exp 04/01/95 SLHY 00 08 2719.75 0.00 10/99 2357.12 0.00 362.63 86.7
000325 Infocus 58 07/01/95 SLHY 00 08 9515.00 0.00 10/99 8246.33 0.00 1268.67 86.7
000326 Infocus 58 07/01/95 SLHY 00 08 10990.00 0.00 10/99 9524.66 0.00 1465.34 86.7
000337 HP Laserje 08/01/95 SLHY 00 08 2569.74 0.00 10/99 2227.11 0.00 342.63 86.7
000342 HP U Lase 09/01/95 SLHY 00 08 2698.27 0.00 10/99 2338.48 0.00 359.79 86.7
000350 HP Laserje 10/01/95 SLHY 00 08 2263.66 0.00 10/99 1961.83 0.00 301.83 86.7
000355 Conference 11/01/95 SLHY 00 08 2163.00 0.00 10/99 1874.60 0.00 288.40 86.7
000368 Cable Inst 11/01/95 SLHY 00 08 2267.50 0.00 10/99 1965.16 0.00 302.34 86.7
000000 Xxxxxxx Xx 11/01/95 SLHY 00 08 2034.75 0.00 10/99 1763.45 0.00 271.30 86.7
000379 Projection 12/01/95 SLHY 00 08 1870.00 0.00 10/99 1620.66 0.00 249.34 86.7
000383 Network Se 01/01/96 SLHY 01 08 5750.00 0.00 10/99 3833.33 0.00 1916.67 66.7
000384 Mitel\Trun 01/01/96 SLHY 01 08 16439.68 0.00 10/99 10959.80 0.00 5479.88 66.7
000419 Projection 02/01/96 SLHY 01 08 1870.00 0.00 10/99 1246.66 0.00 623.34 66.7
000424 11 Dpeaker 02/01/96 SLHY 01 08 5382.19 0.00 10/99 3588.13 0.00 1794.06 66.7
000425 Fl 2 data 02/01/96 SLHY 01 08 4524.15 0.00 10/99 3016.10 0.00 1508.05 66.7
000426 Mitel Mail 04/01/96 SLHY 01 08 15434.65 0.00 10/99 10289.77 0.00 5144.88 66.7
000479 Mitel Mail 07/01/96 SLHY 01 08 6614.75 0.00 10/99 4409.83 0.00 2204.92 66.7
000000 Xxxxx Bind 06/01/96 SLHY 01 08 1447.13 0.00 10/99 964.76 0.00 482.37 66.7
000485 8 Handsfre 06/01/96 SLHY 01 08 1088.50 0.00 10/99 725.66 0.00 362.84 66.7
000492 Analog & D 07/01/96 SLHY 01 08 6079.40 0.00 10/99 4052.93 0.00 2026.47 66.7
000497 Ti Trunkw 09/01/96 SLHY 01 08 3611.56 0.00 10/99 2407.70 0.00 1203.86 66.7
000498 Ti Work 09/01/96 SLHY 01 08 614.75 0.00 10/99 409.83 0.00 204.92 66.7
000499 Tl work 09/01/96 SLHY 01 08 279.75 0.00 10/99 186.50 0.00 93.25 66.7
000500 SS410 & SS 08/01/96 SLHY 01 08 1178.75 0.00 10/99 785.83 0.00 392.92 66.7
000501 US Robotic 09/01/96 SLHY 01 08 1056.70 0.00 10/99 704.46 0.00 352.24 66.7
000533 Tel Trex H 09/14/96 SLHY 01 08 3764.25 0.00 10/99 2509.50 0.00 1254.75 66.7
000536 Audio Visu 10/22/96 SLHY 01 08 39769.10 0.00 10/99 26512.73 0.00 13256.37 66.7
000543 CAT 5/CAT 11/15/96 SLHY 01 08 4691.04 0.00 10/99 3127.36 0.00 1563.68 66.7
000556 Unity Call 12/02/96 SLHY 01 08 2190.00 0.00 10/99 1460.00 0.00 730.00 66.7
000557 Sarif Shut 11/26/96 SLHY 01 08 3721.20 0.00 10/99 2480.80 0.00 1240.40 66.7
000565 Telephone 01/28/97 SLHY 02 08 9121.20 0.00 10/99 4256.56 0.00 4864.64 46.7
000689 Sarif Shut 02/04/97 SLHY 02 08 7027.25 0.00 10/99 3279.38 0.00 3747.87 46.7
000696 Sarif Shut 03/24/97 SLHY 02 08 4114.75 0.00 10/99 1920.22 0.00 2194.53 46.7
000702 2nd Instal 03/06/97 SLHY 02 08 62494.30 0.00 10/99 29164.00 0.00 33330.30 46.7
000704 Analog Sta 04/21/97 SLHY 02 08 3334.50 0.00 10/99 1556.10 0.00 1778.40 46.7
000705 TI Card In 04/21/97 SLHY 02 08 3637.55 0.00 10/99 1697.52 0.00 1940.03 46.7
000726 3 Robotic 05/21/97 SLHY 02 08 1260.00 0.00 10/99 588.00 0.00 672.00 46.7
000727 3rd instal 05/05/97 SLHY 02 08 13984.04 0.00 10/99 6525.88 0.00 7458.16 46.7
000728 2nd instal 03/28/97 SLHY 02 08 7305.12 0.00 10/99 3409.04 0.00 3896.08 46.7
000730 20 CAT5 da 06/26/97 SLHY 02 08 3173.93 0.00 10/99 1481.17 0.00 1692.76 46.7
000731 Mitel 6X36 03/28/97 SLHY 02 08 1825.15 0.00 10/99 851.74 0.00 973.41 46.7
000743 Relocated 06/16/97 SLHY 02 08 1025.00 0.00 10/99 478.33 0.00 546.67 46.7
000744 cabling fo 07/07/97 SLHY 02 08 6951.39 0.00 10/99 3243.98 0.00 3707.41 46.7
000755 Line Card 08/02/97 SLHY 02 08 2840.50 0.00 10/99 1325.56 0.00 1514.94 46.7
000756 1 Sarif Sh 07/28/97 SLHY 02 08 4887.50 0.00 10/99 2280.83 0.00 2606.67 46.7
000800 Patriot Sn 12/14/97 SLHY 02 08 1149.46 0.00 10/99 536.41 0.00 613.05 46.7
000803 Epson LCD 11/25/97 SLHY 02 08 6592.50 0.00 10/99 3076.50 0.00 3516.00 46.7
000883 2 Xxxxx Xx 06/22/98 SLHY 03 08 3289.49 0.00 10/99 877.20 0.00 2412.29 26.7
000903 Digital Eu 11/01/98 SLHY 04 06 188124.70 0.00 12/98 0.00 0.00 188124.70 0.0
000909 COMPUTER E 02/27/99 SLMM 09 04 15263.30 0.00 10/99 1017.55 0.00 14245.75 6.7
000911 Computer 02/27/99 SLMM 09 04 47444.93 0.00 10/99 3163.00 0.00 44281.93 6.7
--------- ---- --------- ---- ---------
Location Lincoln Count= 93 745773.60 0.00 363606.37 0.00 382167.23
Less disposals 200997.30 0.00 10298.08 0.00 190699.22
--------- ---- --------- ---- ---------
Net 544776.30 0.00 353308.29 0.00 191468.01
--------- ---- --------- ---- ---------
000000 Xxxxxxx Xx 07/31/94 SLHY 00 00 975.31 0.00 10/99 975.31 0.00 0.00 100.0
000620 Xxxxxx NP4 08/09/94 SLHY 00 00 8497.50 0.00 10/99 8497.50 0.00 0.00 100.0
000621 1 Sharp XG 07/05/95 SLHY 00 08 5052.29 0.00 10/99 4378.66 0.00 673.63 86.7
000622 Video Conf 09/29/95 SLHY 00 08 84363.30 0.00 10/99 73114.86 0.00 11248.44 86.7
000623 1 Xerox Co 06/15/96 SLHY 01 08 740.24 0.00 10/99 493.49 0.00 246.75 66.7
-------- ---- -------- ---- --------
Location Lincoln - ISS Count= 5 99628.64 0.00 87459.82 0.00 12168.82
Less disposals 0.00 0.00 0.00 0.00 0.00
-------- ---- -------- ---- --------
Net 99628.64 0.00 87459.82 0.00 12168.82
-------- ---- -------- ---- --------
000625 Phone Syst 09/29/95 SLHY 00 08 51614.58 0.00 10/99 44732.65 0.00 6881.93 86.7
000626 Audio Visu 10/10/95 SLHY 00 08 43728.52 0.00 10/99 37898.03 0.00 5830.49 86.7
000627 Video Conf 09/29/95 SLHY 00 08 85166.76 0.00 10/99 73811.18 0.00 11355.58 86.7
000628 1 Xxxxxx N 03/13/96 SLHY 01 08 37401.32 0.00 10/99 24934.20 0.00 12467.12 66.7
000629 Audio Visu 03/25/96 SLHY 01 08 26883.80 0.00 10/99 17922.53 0.00 8961.27 66.7
000630 1 Xxxxxx C 07/31/96 SLHY 01 08 20161.96 0.00 10/99 13441.30 0.00 6720.66 66.7
000706 IDS E&M Co 04/14/97 SLHY 02 08 3806.12 0.00 10/99 1776.18 0.00 2029.94 46.7
--------- ---- --------- ---- --------
Location Stamford Count= 7 268763.06 0.00 214516.07 0.00 54246.99
Less disposals 0.00 0.00 0.00 0.00 0.00
--------- ---- --------- ---- --------
Net 268763.06 0.00 214516.07 0.00 54246.99
--------- ---- --------- ---- --------
000624 1 Hewlett 06/24/94 SLHY 00 00 1106.11 0.00 10/99 1106.11 0.00 0.00 100.0
---------- ---- --------- ---- ---------
Location Washington Count= 1 1106.11 0.00 1106.11 0.00 0.00
Less disposals 0.00 0.00 0.00 0.00 0.00
---------- ---- --------- ---- ---------
Net 1106.11 0.00 1106.11 0.00 0.00
========== ==== ========= ==== =========
Grand Total Count= 115 1171484.74 0.00 685818.71 0.00 485666.03
Less disposals 200997.30 0.00 10298.08 0.00 190699.22
---------- ---- --------- ---- ---------
Net 970487.44 0.00 675520.63 0.00 294966.81
========== ==== ========= ==== =========
Calculation Assumptions
--------------------------------------------------------------------------------
Book Short Years Midquarter Convention Adjustment Convention
---- ----------- --------------------- ---------------------
Internal [Y] [N] None
Asset Grouping/Sorting
--------------------------------------------------------------------------------
Group: Equipment
Include Assets that meet the following conditions:
Class is M
Sort Assets by:
Location in ascending order and report subtotals
November 30, 1999 Page
3:27 PM
Strategy
NET BOOK VALUE REPORT
In-Svc Dep Rem Unadjusted Salvage Curr Current Accum Pct
SYS No Co Desc Date Meth Life Basis Value Thru Depreciation Sec 179 Net Bk Value Dep
Asset No + S179 x
BOOK: INTERNAL FY: DECEMBER
010136 Fax Machin 07/01/97 SLHY 02 08 2942.50 0.00 10/99 1373.16 0.00 1569.34 46.7
------- ---- ------- ---- -------
Location Atlanta Count= 1 2942.50 0.00 1373.16 0.00 1569.34
Less disposals 0.00 0.00 0.00 0.00 0.00
------- ---- ------- ---- -------
Net 2942.50 0.00 1373.16 0.00 1569.34
------- ---- ------- ---- -------
010089 1 Ricoh 25 02/14/97 SLHY 00 00 662.95 0.00 09/99 662.95 0.00 0.00 100.0
010090 1 Ricoh 30 02/14/97 SLHY 00 00 1197.66 0.00 09/99 1197.66 0.00 0.00 100.0
010091 1 Omnifax 02/14/97 SLHY 00 00 519.09 0.00 09/99 519.09 0.00 0.00 100.0
010092 1 Mita 559 02/14/97 SLHY 00 00 4421.74 0.00 09/99 4421.74 0.00 0.00 100.0
010093 1 Mita 809 02/14/97 SLHY 00 00 7580.13 0.00 09/99 7580.13 0.00 0.00 100.0
010094 1 Mercedes 02/14/97 SLHY 00 00 12549.64 0.00 09/99 12549.64 0.00 0.00 100.0
010095 1 GBC III 02/14/97 SLHY 00 00 1447.92 0.00 09/99 1447.92 0.00 0.00 100.0
010096 1 GBC 500 02/14/97 SLHY 00 00 409.01 0.00 09/99 409.01 0.00 0.00 100.0
010101 Misc Phone 04/30/98 SLHY 00 08 10320.59 0.00 10/99 6880.40 0.00 3440.19 66.7
-------- ---- -------- ---- -------
Location Boston Count= 9 39108.73 0.00 35668.54 0.00 3440.19
Less disposals 0.00 0.00 0.00 0.00 0.00
-------- ---- -------- ---- -------
Net 39108.73 0.00 35668.54 0.00 3440.19
-------- ---- -------- ---- -------
010124 Xerox 7042 06/18/96 SLHY 01 08 2546.90 0.00 10/99 1697.93 0.00 848.97 66.7
010125 25 Voice/D 01/31/98 SLHY 03 08 5110.87 0.00 10/99 1362.89 0.00 3747.98 26.7
010126 Sharp Copi 04/03/98 SLHY 03 08 7907.48 0.00 10/99 2108.66 0.00 5798.82 26.7
-------- ---- ------- ---- --------
Location San Francisco Count= 3 15565.25 0.00 5169.48 0.00 10395.77
Less disposals 0.00 0.00 0.00 0.00 0.00
-------- ---- ------- ---- --------
Net 15565.25 0.00 5169.48 0.00 10395.77
======== ==== ======== ==== ========
Grand Total Count= 13 57616.48 0.00 42211.18 0.00 15405.30
Less disposals 0.00 0.00 0.00 0.00 0.00
-------- ---- ------- ---- --------
Net 57616.48 0.00 42211.18 0.00 15405.30
======== ==== ======== ==== ========
Calculation Assumptions
--------------------------------------------------------------------------------
Book Short Years Midquarter Convention Adjustment Convention
---- ----------- --------------------- ---------------------
Internal [Y] [N] None
Asset Grouping/Sorting
--------------------------------------------------------------------------------
Group: Office Equipment
Include Assets that meet the following conditions:
Class is M
Sort Assets by:
Location in ascending order and report subtotals
November 30, 1999 Page
3:26 PM
Strategy
NET BOOK VALUE REPORT
In-Svc Dep Rem Unadjusted Salvage Curr Current Accum Pct
SYS No Co Desc Date Meth Life Basis Value Thru Depreciation Sec 179 Net Bk Value Dep
Asset No + S179 x
BOOK: INTERNAL FY: DECEMBER
010137 Bookcase 04/12/96 SLHY 03 08 507.04 0.00 10/99 241.46 0.00 265.58 47.6
010138 Bookcase 11/03/96 SLHY 03 08 537.20 0.00 10/99 255.80 0.00 281.40 47.6
010139 Bookcases 04/16/97 SLHY 04 08 1156.78 0.00 10/99 385.60 0.00 771.18 33.3
010140 Bookcases 01/12/98 SLHY 05 08 1163.52 0.00 10/99 221.62 0.00 941.90 19.0
------- ---- ------- ---- -------
Location Atlanta Count= 4 3364.54 0.00 1104.48 0.00 2260.06
Less disposals 0.00 0.00 0.00 0.00 0.00
------- ---- ------- ---- -------
Net 3364.54 0.00 1104.48 0.00 2260.06
------- ---- ------- ---- -------
010059 8 shelves 02/14/97 SLHY 01 08 252.67 0.00 10/99 147.39 0.00 105.28 58.3
010060 1 display 02/14/97 SLHY 01 08 157.92 0.00 10/99 92.12 0.00 65.80 58.3
010061 28 desk ch 02/14/97 SLHY 01 08 1326.52 0.00 10/99 773.80 0.00 552.72 58.3
010062 1 desk cha 02/14/97 SLHY 01 08 94.75 0.00 10/99 55.27 0.00 39.48 58.3
010063 1 guest ch 02/14/97 SLHY 01 08 31.58 0.00 10/99 18.43 0.00 13.15 58.4
010064 1 desk cha 02/14/97 SLHY 01 08 47.38 0.00 10/99 27.64 0.00 19.74 58.3
010065 1 desk 02/14/97 SLHY 01 08 31.58 0.00 10/99 18.43 0.00 13.15 58.4
010066 1 file cab 02/14/97 SLHY 01 08 23.69 0.00 10/99 13.81 0.00 9.88 58.3
010067 1 side tab 02/14/97 SLHY 01 08 23.69 0.00 10/99 13.81 0.00 9.88 58.3
010068 3 kitchen 02/14/97 SLHY 01 08 37.90 0.00 10/99 22.12 0.00 15.78 58.4
010069 35 office 02/14/97 SLHY 01 08 66.33 0.00 10/99 38.68 0.00 27.65 58.3
010070 2 cupboard 02/14/97 SLHY 01 08 157.92 0.00 10/99 92.12 0.00 65.80 58.3
010071 13 desks 02/14/97 SLHY 01 08 307.94 0.00 10/99 179.63 0.00 128.31 58.3
010072 35 file ca 02/14/97 SLHY 01 08 3316.31 0.00 10/99 1934.52 0.00 1381.79 58.3
010073 3 file cab 02/14/97 SLHY 01 08 189.50 0.00 10/99 110.55 0.00 78.95 58.3
010074 2 folding 02/14/97 SLHY 01 08 63.17 0.00 10/99 36.84 0.00 26.33 58.3
010075 19 desk la 02/14/97 SLHY 01 08 120.02 0.00 10/99 70.01 0.00 50.01 58.3
010076 1 lamp (ex 02/14/97 SLHY 01 08 23.69 0.00 10/99 13.81 0.00 9.88 58.3
010077 1 small re 02/14/97 SLHY 01 08 31.58 0.00 10/99 18.43 0.00 13.15 58.4
010078 1 coffee t 02/14/97 SLHY 01 08 78.96 0.00 10/99 46.06 0.00 32.90 58.3
010079 4 computer 02/14/97 SLHY 01 08 126.34 0.00 10/99 73.70 0.00 52.64 58.3
010080 1 small co 02/14/97 SLHY 01 08 205.30 0.00 10/99 119.76 0.00 85.54 58.3
010081 9 bulletin 02/14/97 SLHY 01 08 71.06 0.00 10/99 41.45 0.00 29.61 58.3
010082 10 white b 02/14/97 SLHY 01 08 94.75 0.00 10/99 55.27 0.00 39.48 58.3
010083 1 file cab 02/14/97 SLHY 01 08 236.56 0.00 10/99 137.99 0.00 98.57 58.3
010084 4 small co 02/14/97 SLHY 01 08 240.04 0.00 10/99 140.02 0.00 100.02 58.3
010085 20 confere 02/14/97 SLHY 01 08 789.60 0.00 10/99 460.60 0.00 329.00 58.3
010086 8 44mg car 02/14/97 SLHY 01 08 159.18 0.00 10/99 92.86 0.00 66.32 58.3
010087 34 200mg 02/14/97 SLHY 01 08 1127.54 0.00 10/99 657.73 0.00 469.81 58.3
010088 4 office c 02/14/97 SLHY 01 08 252.67 0.00 10/99 147.39 0.00 105.28 58.3
010102 Chairs 10/01/98 SLHY 05 08 3297.50 0.00 10/99 628.09 0.00 2669.41 19.0
010104 Visual Boa 09/01/99 SLHY 06 08 1417.50 0.00 10/99 50.62 0.00 1366.88 3.6
010105 Autumn Che 09/01/99 SLHY 03 08 2408.70 0.00 10/99 150.54 0.00 2258.16 6.2
010106 Mahogany C 09/01/99 SLHY 03 08 1995.00 0.00 10/99 124.69 0.00 1870.31 6.3
010141 Five Xxxxx 11/01/99 SLHY 04 00 727.65 0.00 0.00 0.00 727.65 0.0
010142 Five Xxxxx 11/01/99 SLHY 04 00 727.65 0.00 0.00 0.00 727.65 0.0
010143 Five Xxxxx 11/01/99 SLHY 04 00 602.28 0.00 0.00 0.00 602.28 0.0
010144 Five Xxxxx 11/01/99 SLHY 04 00 602.28 0.00 0.00 0.00 602.28 0.0
010145 Five Xxxxx 11/01/99 SLHY 04 00 602.28 0.00 0.00 0.00 602.28 0.0
010146 Five Xxxxx 11/01/99 SLHY 04 00 602.28 0.00 0.00 0.00 602.28 0.0
010147 Five Xxxxx 11/01/99 SLHY 04 00 602.28 0.00 0.00 0.00 602.28 0.0
-------- ---- ------- ---- --------
Location Boston Count= 41 23271.54 0.00 6604.18 0.00 16667.36
Less disposals 0.00 0.00 0.00 0.00 0.00
-------- ---- ------- ---- --------
Net 23271.54 0.00 6604.18 0.00 16667.36
-------- ---- ------- ---- --------
010111 6 Work Sur 05/25/95 SLHY 02 08 21402.18 0.00 10/99 13248.99 0.00 8153.19 61.9
010112 6 Lateral 05/25/95 SLHY 02 08 3156.17 0.00 10/99 1953.81 0.00 1202.36 61.9
010113 14 Desk Ch 05/25/95 SLHY 02 08 6085.22 0.00 10/99 3767.05 0.00 2318.17 61.9
-------- ---- -------- ---- --------
Location San Francisco Count= 3 30643.57 0.00 18969.85 0.00 11673.72
Less disposals 0.00 0.00 0.00 0.00 0.00
-------- ---- -------- ---- --------
Net 30643.57 0.00 18969.85 0.00 11673.72
======== ==== ======== ==== ========
Grand Total Count= 48 57279.65 0.00 26678.51 0.00 30601.14
Less disposals 0.00 0.00 0.00 0.00 0.00
-------- ---- -------- ---- --------
Net 57279.65 0.00 26678.51 0.00 30601.14
======== ==== ======== ==== ========
Calculation Assumptions
--------------------------------------------------------------------------------
Book Short Years Midquarter Convention Adjustment Convention
---- ----------- --------------------- ---------------------
Internal [Y] [N] None
Asset Grouping/Sorting
--------------------------------------------------------------------------------
Group: Furniture & Fixtures
Include Assets that meet the following conditions:
Class is FF
Sort Assets by:
Location in ascending order and report subtotals
Inventory of assets located at
000 Xxxxxx Xxxxxx, Xxxxxxx, XX
o Dark wooden desk with filing cabinet and bookshelf (2)
o Office chairs (35)
o Conference table (1)
o Black file cabinets (6)
o Black desks (12)
o Returns (3)
o File cabinets (4)
o Tables w/ wheels forming conference table (8)
o Rug (1)
o Oak table (1)
o Long glass tables (2)
o Couch (1)
o Bookshelves (5)
o Oak file tables (2)
o Trash cans (8)
o Burgundy chairs (2)
Inventory of assets taken from 000 Xxxxxx Xxxxxx
to 15 Piedmont Center, 0000 Xxxxxxxx Xxxx, Xxxxxxx, XX
o Black office chairs (4)
o Black desk returns (4)
o Oak office desks (2)
o Oak file cabinets (2)
o Oak desk returns (2)
o Regular office chairs (12)
o Small conference table (1)
o Black file cabinets (8)
o Bookcases (15)
o White boards (2)
o Laptops (2) [Dell Latitudes under lease agreement with
Renaissance Worldwide, Inc.]
o Desktop computers (2)
o Printers (2) [HP LJ 5, Tektronix Phaser 560 - both owned]
o Fax machine [Sharp FO-3850, owned]
Asset inventory of
000 Xxxx Xxxxxxx, Xxxxxxx, XX
o Leather chairs (20)
o Blue leather chair (1)
o Fax machine (1)
o $5,000 worth of artwork
Asset inventory of
000 Xxxxxxx Xxxxxx, Xxxxxx, XX
Schedule 17
Xxxxxxx Office products
Invoice # 767820
Office 2223
1 Desk, 66x30 left pedestal
1 Right return, flush height
1 lateral file, 2-drawer
1 keyboard
1 mgmt./operations Chair, BFC
2 side chair, BFC
Office 2222
2 Desk, double pedestal
2 knee space credenza
2 task chair
2 side chair
Office 2221
3 desk, double pedestal
3 lateral file, 2-drawer
2 mgmt/operations Chair, BFC
Office 2220
3 desk, double-pedestal
2 lateral file, 2-drawer
3 mgmt/operations Chair, BFC
Office 2219
1 mgmt/operations chair
2 side chair
Office 2242
2 operators chair, hi-perf
Office 2203
1 single pedestal desk
1 left return, flush height
1 lateral file
1 top conference
1 base, conference
1 executive chair, hi-back
2 side chair, BFC
Office 2202
1 desk, left pedestal
1 right return, flush height
1 lateral files
1 top, conference
1 base conference
1 executive chair, hi-back
2 side chair, BFC
cubicle seating
40 operators chair, BFC\
Human Resource files
11 lateral files, recessed drwrs.
Master file room
35 5-drawer lateral files
8 3-drawer lateral files
bullpen area
24 Rosemount cubicles per specification
file area
2 Rosemount cubicles per specification
IRC/Production area
8 velocity stations in 3 private offices
hallway area
14 hall cubicles
Room 2219A
1 open shelf files as per diagram
Office 2207
1 desk, single pedestal
1 right return flush height
1 lateral files
1 top conference
1 base, conference
1 executive chair, hi-back
2 side chair, BFC
Office 2206
1 desk, single pedestal
1 return, flush height
1 lateral files
1 top conference
1 base, conference
1 executive hi-back chair
2 side chair, BFC
Office 2205
1 desk, single pedestal
1 return, flush height
1 return, flush height
1 return, flush height
1 lateral files
2 mgmt/operator chair
2 side chair
Office 2204
1 desk, single pedestal
1 return, flush height
1 return, flush height
1 return, flush height
1 lateral file
2 mgmt/operators chair
2 side chair
Office 2276
1 mgmt/operators chair, BFC
1 hi-perf. Operators chair, BFC
Office 2212
1 desk, double pedestal
1 knee space credenza
1 lateral file
1 table, 42"
1 chair, executive, hi-back
4 side chairs, BFC
Conference rooms 2111 & 2110
2 conference table
12 mgmt/conference chair
Office 2209
1 desk, left pedestal
1 right return, flush height
2 lateral files
1 conference table 36x72
6 mgmt/conference chairs
1 executive hi-back
Office 2208
1 desk, single pedestal
1 right return
1 lateral files
1 executive hi-back chair
2 side chair, BFC
LIST G
Miscellaneous (i.e. automobiles, etc.)
--------------------------------------------------------------------------------
LEASE AGREEMENT
MAKE YEAR AGREEMENT NUMBER
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Volvo 1993 Volvo Finance / 10089981
Xxxxxx Belt
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Schedule 2.15 - Title to Property
1. See Schedule 2.14.
2. Real property leases.
a. Leasehold: Stamford, CT
Action: International Systems Services, Ltd., a former subsidiary of
Company, assigned this leasehold to Renaissance Worldwide ITCS,
an affiliate. No assignment documentation has been executed. The
landlord was not notified as required by the lease.
b. Leasehold: Xxxxxx - 0 Xxxxx Xxxxx Xxxxxx
Action: Coba Consulting Ltd. has taken responsibility for this lease.
c. Leasehold: Atlanta - Colony Square
Action: Coba Group USA, Ltd., a former subsidiary of Company, assigned
this lease to Company. No assignment documentation has been
executed.
d. Leasehold: Chicago - 000 Xxxx Xxxxxxx
Action: The Hunter Group, Inc., an affiliate of Company, is the tenant on
the lease. Company currently occupies the location. To assign or
sublease requires the consent of the landlord. See Schedule 2.6.
e. Leasehold: Cavendish Square, London, UK
Action:
3. Liens
a. The Bank of America has liens in all of the properties and assets of
Company and its subsidiaries and in all of the properties and assets used
in the Business Strategy Group business pursuant to the Credit Agreement.
Schedule 2.16 - Taxes
The Subsidiaries have not complied with the statutory audits required under UK
law. Compliance efforts have commenced.
Coba Consulting Ltd. is entitled to refunds of taxes paid in Canada and the
United Kingdom in the amount of (pound)210,000 and (pound)300,000, for taxable
periods ending December 31, 1998. These refunds (including interest) shall be
promptly paid to the Company when received pursuant to Section 4.9(b) of the
Agreement.
Schedule 2.18 - Intellectual Property
(a) 1. The Company typically enters into engagement letters with clients. The
letters do not address the issue of intellectual property ownership. It is
possible that one or more clients might dispute Company's ability to re-sell
similar intellectual property to other clients.
2. Seller has granted to Bank of America a lien and security interest in its
intellectual property rights pursuant to the Pledge and Security Agreement
of the Credit Agreement.
Schedule 2.19 - Immigration Compliance
c. Pending visa petitions:
1. Xxxxx Law
2. Xxxx Xxxxx
3. Xxxx Xxxxxx
4. Xxxx Xxxxxxxx
Schedule 2.20 - Transactions with Affiliates
1. Subcontract for the provision of consulting services to Sprint between Seller
and Company dated August 27, 1998.
2. Loans.
a. The Company owes Seller $6,318,177.
b. Seller owes RWS Ltd. $2,854,150.
3. Assignment of client contracts set forth on Schedule 4.11 from Seller to the
Company. In connection with this transaction, Seller shall assign to the
Company certain client contracts and license to the Company the intellectual
property described in Section 4.10 of the Agreement. The Company shall assign
certain rights and obligations to the Seller relating to the litigation
referred to in Schedule 2.11 pursuant to an Assignment Agreement in the form
attached as Exhibit B to the Agreement.
4. Assignment of real property leases.
a. Leasehold: First Stamford Place, Stamford, CT
b. Leasehold: Colony Square, Atlanta, GA
c. Leasehold: 00 Xxxxxxxxxx, Xxx Xxxxxxxxx, XX
d. Leasehold: 000 Xxxx Xxxxxxx, Xxxxxxx, XX
e. Leasehold: 0 Xxxxx Xxxxx Xxxxxx, XX0, Xxxxxx, Xxxxxxx
f. Leasehold: One Curzon Street, London, England
5. Assignment or buy-out of personal property leases.
a. In connection with this transaction, Seller plans to assign or arrange
for the buy-out by the Company of the personal property as identified
on Attachment 1 to Schedule 2.14.
b. In connection with this transaction, RWS Ltd. shall assign to
Renaissance Worldwide Limited the personal property leases specified
below:
i. Master lease agreement for computers by and between Dell and RWS
Ltd. dated August 3, 1999.
ii. Master lease agreement for copiers by and between Xerox and RWS
Ltd.
6. Other assignments.
x. Xxxx Consulting Limited shall assign to Coba Group Limited the
intellectual property rights relating to the Coba marks, as set forth
in the Intellectual Property Rights License dated February 5, 1999, for
(pound)166,000 which it shall pay upon receipt to Renaissance Worldwide
Limited.
Schedule 2.20 - Transactions with Affiliates (cont'd)
b. The Company is obligated to indemnify Seller for any liability relating
to Amex cards used by the employees of the Company. No written
indemnity agreement was entered into between Seller and the Company.
c. Company shall assign to Seller the Joint Development and Marketing
Agreement, dated as of December 19, 1997, by and between Renaissance
Solutions, Inc. and Gentia Software, Inc.
Schedule 2.21 - Brokers
Letter agreement dated February 24, 2000 between the Seller and Xxxx Xxxxxxx.
Schedule 2.23 - Accounts Receivable; Accounts Payable
b. Buyer owes Seller amounts payable to Seller by the Company pursuant
to the Stock Purchase Agreement in cash to repay Seller for advances
of amounts due and bonuses to the employees of the Company as
described on Schedules 1.3 and 4.13.
Schedule 2.24 - Warranty and Related Matters
Client File Name
------ ---------
1. IBM Corp. IBM/127
2. Nortel Networks NTL/125, NTL/125B
3. Cisco Systems, Inc. CIS/110, CIS/110B, CIS/111
4. Xerox XRX/110, XRX/111
5. Sprint SPR/120B, 5PR/132
6. Xxxxxx XXXX/110
7. AT&T ATT/142, ATT/143
Schedule 2.25 - Corporate Records; Copies of Documents
Copies of corporate documents, which authorize the distribution or dissolution
of certain subsidiaries referred to on Schedule 4.1, shall be provided.
Schedule 2.26 - 1999 Customer Accounts Worth $250,000 +
1. Electric Lightwave; XXX/110
2. GM Onstar; GMON/110
3. Ontario Hydro; 0H/122
4. Century Telephone, Inc.; SHRCO 110-0lA
5. Telesystem mt. Wireless, Inc.; TIW/112
6. Nortel Networks; NT/12513 & NTL/125 & NTL/125B
7. Dell Computer Co.; DEL/112, DEL/110-0l
8. Citizens Utilities; CZN/115B, CZN/110-01A
9. Interactive Media Group; IMG/NOPRG
10. Wisconsin Electric Power Co.; WE/110B
11. Cisco Systems, Inc.; CIS/110 & CIS/110B & CIS/111
12. General Dynamics; GD/110 & GD/111 & GD/112
13. Nextnet, Inc.; NEXT 111
14. Lucent Technologies, Inc.; LUC/132, LUC/118
15. Xerox; XRX/110 & XRX/111
16. GTE Government Systems; GD/110
17. Global Ventures/Concert/Concert Management Services; GV/110 & GV/111
18. IBM Corp.; IBM/127
19. Hewlett Packard; HP/111B & HP 115
20. Geo-AT&T; GEO-ATT/110
21. Norwest Mortgage; NORW/110
22. Gew; GEW/110
23. Telesystems Int; TIW/114
24. Sprint Business; SPR/120B, SPR/127-01
25. AT&T; ATT/142 & ATT/143
26. BCE Mobile Communications, Inc.; BEL/202
Schedule 2.29 - Employees of The Business Strategy Group
Boston, MA - 000 Xxxxxxxx Xxxxxx
1. Xxxxxx, Xxxxx
2. Xxxxxx, Xxxxx
3. Xxxxxxxxxx, Xxxxx
4. Belt, Andy
5. Bolt, Kristen
6. Xxxxxxx, Xxxxxxx
7. Xxxxxxx, Xxxx
8. Cant, Xxxxxxx
9. Xxxxxxx, Xxx
10. Xxxxxxx, Xxxxxxx
11. Cavallari, Ford
12. Xxxxx, Xxxx
13. Xxxx, Xxxxxx
14. Xxxxxx, Xxxxxx
15. Xxxxxx, Xxxxxxx
16. Xxxxx, Xxxxxxx
17. Xxxxxxx, Xxxxx
18. Xxxxxx, Xxxxxxx
00. Xxxxxxxx, Xxxxx
00. Xxxxxxx, Xxxxxx
00. Xxxxx, Xxx
22. Xxx, Xxx
23. Xxxxxxx, Xxxxxxxxx
24. Xxxxxx, Xxxxx
25. Xxxxxxxxx, Xxx
26. Xxxx, Xxxxx
27. Xxxxxxxxx, Xxx
28. Xxxxxxxxx, Xxxxx
29. Xxxxxx, Xxxxx
30. Xxxxx, Xxxx
31. Xxxxxx, Xxxxxxx
32. Xxxxx, Xxxxx
33. Xxxxxxx, Xxxxx
34. Xxxxxxx, Xxxxxxx
35. Xxxxxx, Xxxxx
36. Xxxxxxxx, Xxxx
37. Xxxxxx, Xxxxx
38. Xxxxx, Xxxxx
39. Law, Xxxxx
40. Xxxxxx, Xxx
41. Xxxxxxxx, Xxxxxx
42. XxXxxxxx, Xxxx
43. Xxxx, Xxxxxxx
44. Xxxxxxx, Xxxxxxxx
45. Xxxxxx, Xxxxxx
46. Xxxxx, Xxxxx
47. Muelbert, Philipp
48. Xxxxx, Xxxxx
49. X'Xxxxxxx, Xxxxxxxx
50. Olandino, Lauren
51. X'Xxxx, Xxxxxx
52. Xxxx, Xxxx
53. Xxxxxx, Xxxx
54. Xxxxxxxxx, Xxxx
55. Xxxx, Xxxxxxx
56. Xxxxx, Xxxxxxx
57. Xxxxxx, Xxx
58. Xxxxx, Xxxxx
59. Xxxxxxx, Xxxxxxx
60. Xxxxxxx, Xxxx
61. Xxxxx, Xxxx
62. Xxxxxx, Xxxx
63. Xxx Xxxxxx, Bar
64. Xxxxxxxxxx, Xxx
65. Xxxxxxxx, Xxxx
66. Xxxxxx, Xxxxxxx
Chicago, IL - 000 Xxxx Xxxxxxx Xxxxxx
1. Xxxxx, Xxx
2. Xxxxxx, Xxxx
3. Xxxxxx, Xxxxxx
4. Xxxxxxx, Xxxx
5. Xxxxxxx, Xxxxxx
Atlanta, GA - 3575 Piedmont Center
1. Xxxxxx, Xxx
2. Xxxxxx, Xxxxxxx
Schedule 2.29 - Employees of The Business Strategy Group (cont'd)
Xxx Xxxxxxxxx, XX - 00 Xxxxxxxxxx Xxxxxx
1. Xxxx, Xxxxxx
2. Xxx, Xxxxx
3. Xxxxxxxxxx, Xxxxxxxxx
4. De Vegt, RoIf
5. Xxxxx, Xxxxx
6. Xxxxxxx, Xxxx
7. Xxxxxxx, Xxxxx
8. Steels, Liz
9. Xxx, Xxxxxxx
10. Xxxxxxxx, Xxxxxxx
11. Xxxxxx, Xxxxx
12. Xxxx, Xxxxx
Stamford, CT - 100 First Stamford Place
1. Xxxxxxxxxxx, Xxxx
2. Frostig, Rich
New York, NY - 000 X. 00xx Xxxxxx
1. Xxxxxxxxx, Xxxxxxx
2. Xxxxxxx, Xxxx
3. Xxxxxxxxx, Xxxx
4. Xxxxxxx, Xxxx
5. Xxxxxxx, Xxxx
6. Xxxxxxx, Xxxxxx
London, Eng - 00 Xxxxxxxxx Xxxxxx
1. Xxxxxxx, Xxxxxxx
2. Xxxxx, Xxxxxxx
3. Chiang, Pang
4. Xxx, Xxxxx
5. Xxxxxx, Xxxx
6. Elm, Xxxxx
7. Xx, Xxx
8. House, Xxx
9. Xxxxx, Xxxx
10. XxXxxxx, Xxxxxx
11. Xxxx, Xxxxxxxx
12. Xxxx, Xxxx
00. Xxxxxxxx, Xxxxxxx (3/1)
14. Xxxxxx, Xxxxx
15. Xxxxxxxxx, Xxx
RWW/XXX XX - 000 Xxxxxxxx Xxxxxx
1. Xxxxxxx, Xxxxxx
2. Xxxxxx, Xxxxxx
3. Xxxxxxx, Xxxx
4. Xxxxx, Xxxxxx
5. X'Xxxxx, Xxxx
Schedule 4.1 - Conduct of Business Prior to Closing
(g)
1. List of companies the Company is dissolving (3): COBA Group, USA,
Ltd. (GA), Technomic Consultants, Inc. (IL), Technomic Research
Associates Limited (UK).
2. See Schedule 4.11.
3. Coba Consulting Limited shall (i) execute a termination agreement
with Coba Group Limited pursuant to which Coba Consulting Limited
shall receive (pound)166,000 relating to the Intellectual Property
Rights License dated February 5, 1999 ("License"), and (ii) pay said
(pound)166,000 immediately to Renaissance Worldwide Limited, and
(iii) execute an assignment with Renaissance Worldwide Limited to
effect the assignment of any remaining rights and obligations in the
License.
(i) The client contract by and between Nationwide Building Society and
Renaissance Worldwide Strategy Limited shall be assigned to Renaissance
Worldwide Limited.
Schedule 4.2 - Exclusivity
1. The Company shall dissolve or distribute certain of its other
subsidiaries.
x. Xxxx Group USA, Ltd. (GA) to be dissolved.
b. Technomic Consultants, Inc. (IL) to be dissolved.
c. Technomic Research Associates Limited (UK) to be dissolved.
2. See Schedule 4.11.
Schedule 4.11 - Assignment of Rights Under Certain Agreements
1. Transfer of intellectual property
a. Company shall transfer certain intellectual property rights to
Seller pursuant to an Assignment of Rights in Trademarks, Service
Marks and Trade Names attached as Exhibit A-1 to the Agreement.
x. Xxxx Consulting Ltd. shall transfer certain intellectual property
rights to Renaissance Worldwide Ltd. pursuant to an Assignment of
Rights in Trademarks, Service Marks and Trade Names attached as
Exhibit A-2 to the Agreement.
2. Transfer of litigation. The Company shall transfer certain rights with
respect to the litigation referenced in Schedule 2.11 pursuant to an
Assignment Agreement attached as Exhibit B to the Agreement.
3. Transfer of Client Contracts and Equipment Leases (or pieces of
equipment):
a. Client Contracts. The following are in the name of Seller and shall
be assigned to the Company:
1. Electric Lightwave; XXX/110
2. Global Crossing; GC/1l0
3. Geo Partners; GEO-TRW/110
4. GM Onstar; GMON/110, GM/1ll
5. Ontario Hydro; 0H/122
6. Fore Systems; RSGLON/for 110
7. Century Telephone, Inc.; SHRCO 110-0lA
8. Telesystem Int. Wireless, Inc.; TIW/112
9. Nortel Networks; NT/12513 & NTL/125 & NTL/125B.
10. Dell Computer Co.; DEL/112
11. Emergence LLC; LLC/GENC
12. Energis Communications. Ltd.; RSGLON/ENR11O
13. Citizens Utilities; CZN/115B, CZN/110-01A
14. Interactive Media Group; IMG/NOPRG, 1MG/112-02
15. Wisconsin Electric Power Co.; WE/110B, WEC/129
16. Lucent Microelectronics; LUC/133
17. Cisco Systems, Inc.; CIS/110 & CIS/110B & CIS/111
18. Nextnet, Inc.; Next/1ll
19. Lucent Technologies, Inc.;LUC/132, LUC/131-01, LUC/118
20. Xerox; XRX/11O & XRX/111
21. GTE Government Systems; GD/110
22. Citizens Communications; CZN/122, C2N/115C
23. Global Ventures/Concert/Concert Management Services; GV/110 & GV/111
24. IBM Corp.; IBM/127
25. Hewlett Packard; HP/177B & HP/175
26. Geo - AT&T; ATT/11O
27. Norwest Mortgage; NORW/110
28. General Dynamics; GD/110, 111 & 112
Schedule 4.11 - Assignment of Rights Under Certain Agreements (cont'd)
29. Geo IDC; IDC/ll0
30. Gew; GEW/110
31. Sun Microsystems; SUN/125B
32. Telesystems Int; TIW/114
33. Tandem Computers; TDM/120
34. Sprint Business; XXX/000X, XXX/000-0x
00. Xxxxxxx Xxxxxxxx Hydro and Power Authority; BCH/ll0
36. AT&T; ATT/142,143
37. GATX Liquid Logistics; GATX/111
38. Guidant Insurance Group; GUID/110
39. Xxxxxx Telecommunications and Space; Xxxx/110
40. Xxxxxx Insurance Companies; XXXX/110
41. Omron Healthcare, Inc.; OMRO/100-0l
42. ORBCOMM; ORB/118-O1, ORB/115
43. Rights Exchange, Inc.; REI/110-0l
44. Sun Microsystems, Inc.; SUN/122
45. Duke Energy Services; DUK/lll
46. Xxxx South Business; BSC/131
47. Iridium North America; IRID/ll0-0l
48. Southwestern Xxxx; PCB/1ll-Olw, SBL/l10-01
49. Air Products and Chemicals, Inc.; ARP/110-02
50. BG Media Investors; BGM/ll0-01
51. Xxxxxxxx Funds Investor Services; M&I/l10-01
52. Neoglyphics; NEO/l10
53. Xxxx Mobility; BCEM/110-04
54. BCE Mobile Communications, Inc.; BEL/202
55. Siemens AG-PN M; SMN/l12
56. CUPA; CUP/110-02
57. Dell Catalog Sales; DEL/110-0l
58. Fluor Xxxxxx Telecom; FLD/110-03
59. Nortel; 124/A
60. Siemens Enterprise Network Division; SMN/116
61. Stratus Computer, Inc.; STRAT/110-01
62. Xxxxxx Technologies, Inc.; DLN/110
63. Air Touch Communications; ATC/110-0l
64. Equiva Trading Company; EQUILN
65. PageMart Wireless; PAGE W/ll0
66. Royal Bank Financial Group; XXX/113-0l
67. Conill Advertising, Inc.; SAA/110-02
68. Enron Energy Services; ENRON/l10-01
b. See Attachment 1 Schedule 2.14.
4. Transfer of Other Assets:
The Seller shall assign to the Company its right and interest in the BSG
Documents.
Schedule 4.12 - Leases
a. Non-BSG Leases
1. Leasehold: Stamford, CT
Tenant: International Systems Services, Ltd., a former subsidiary of the
Company.
Action: To be assigned to RWITCS.
2. Leasehold: London - 0 Xxxxx Xxxxx Xxxxxx
Xxxxxx: Coba Consulting Ltd. has taken responsibility for this lease.
Action: Deed of Indemnity of Coba Consulting Ltd. is to be released and
a new Deed of Indemnity is to be given by Renaissance
Worldwide Ltd.
3. Leasehold: Atlanta - Colony Square
Tenant: Coba Group USA, Ltd., a former subsidiary of the Company,
assigned this lease to the Company. No assignment documentation
has been executed.
Action: Seller is arranging for the buyout or assignment of this lease
on behalf of Company.
4. Leasehold: Xxx Xxxxxx Xxxxxx, Xxxxxx, Xxxxxxx
Xxxxxx: Renaissance Worldwide Strategy Limited assigned this leasehold
to a third party on December 7, 1999.
5. Leasehold: 00 Xxxxxxx Xxxxxxx, Xxxxxx, Xxxxxxx
Tenant: Coba Consulting Limited assigned this leasehold to a third party
on December 21, 1998.
6. Leasehold: 00 Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxx
Tenant: Renaissance Worldwide Strategy Limited
b. To be assigned to the Company or a Subsidiary subject to the consent of the
landlord.
1. Leasehold: 000 Xxxx Xxxxxxx, Xxxxxxx, XX
Tenant: The Hunter Group, Inc., affiliate of Company
Action: To be assigned in whole.
c.
1. Leasehold: 00 Xxxxxxxxx Xxxxxx, Xxxxxx, XX
Tenant:Renaissance Worldwide Limited
Payment subject to escalations, etc., as set by the landlord pursuant
to the lease and based upon a prorata share of the premises: $16,496.21
per month
Schedule 4.12 - Leases (cont'd)
2. Leasehold: Stamford, CT
Tenant: International Systems Services, Ltd., a former subsidiary of the
Company, to assign this leasehold to RWITCS, an affiliate.
Payment subject to escalations, etc., as set by the landlord pursuant to
the lease and based upon a prorata share of the premises:
02/29/00 -- 12/31/00 Price per month to be determined
based on the percentage of the
premises being used by employees
of BSG.
3. Leasehold: 00 Xxxxxxxx Xxxxxx, Xxxxx 0000, 0000 Xxxxxxxx Xxxx, XX,
Xxxxxxx, XX
Tenant: The Hunter Group, Inc.
Action: To sublease a small portion of the premises to Company.
Payment subject to escalations, etc., as set by the landlord pursuant to
the lease and based upon a prorata share of the premises:
05/99-04/00 $1,759.29 per month
05/00-12/31/00 $1,812.06 per month
4. Leasehold: 000 Xxxx 00xx Xxxxxx, Xxx Xxxx, XX
Tenant: Renaissance Worldwide, Inc.
Action: To sublease a small portion of the premises to Company.
Payment subject to escalations, etc., as set by the landlord pursuant to
the lease and based upon a prorata share of the premises:
11/01/98 -- 12/31/00 $4,211.15 per month
5. Leasehold: 00 Xxxxxxxxxx Xxxxxx, Xxx Xxxxxxxxx, XX
Tenant: Renaissance Worldwide Strategy, Inc.
Payment subject to escalations, etc., as set by the landlord pursuant to
the lease and based upon a prorata share of the premises.
Schedule 4.13 - Bonus Repayment
See Attachment 4.13.
Attachment 4.13 - UK December Bonus
Strategy Bonuses - (pound) Sterling
---------------------------------------------
Bonus Tax Net Emp'ers NI
(pound) (pound) (pound) (pound)
--------------------------------------------------------------------------
Xxxxxxx, Xxxxxxx 1,665.00 382.95 1,282.05 203.13
Xxxxx, Xxxxxxx 3,600.00 1,440.00 2,160.00 439.20
Xxxxxx, Xxxx 11,400.00 4,560.00 6,840.00 1,390.80
Xxxxxxxxxx, Xxxxxxxxx 3,654.00 0.00 3,654.00 445.79
Xx, Xxx 795.00 182.85 612.15 96.99
House, Xxx 8,884.62 3,553.85 5,330.77 1,083.92
Xxxxx, Xxxxx 1,158.00 266.34 891.66 141.28 1.59
Xxxx, Xxxxxxxx 1,665.00 382.95 1,282.05 203.13
Xxxx, Xxxx 1,290.00 296.70 993.30 157.38
Souness, Xxxxx 4,118.85 1,647.54 2,471.31 502.50
Steels, Xxxxxxxxx 2,115.00 0.00 2,115.00 258.03
Xxxxxx, Xxxxx 660.00 151.80 508.20 80.52
Xxxxxxxxx, Xxx 887.88 204.21 683.67 108.32
=============================================
Totals 41,893.35 13,069.19 28,824.16 5,110.99
66,610.43 20,780.01 45,830.41 8,126.47
Total Cost to Company - BPS 47,004.34
Total Cost to Company - USD 74,736.90
Attachment 4.13 - US December Bonus
------------------------------------------------------------------------------------------------------------------------------------
Bonus Dec 12-18-
EMPL ID. Employee Name Hire Date Incentive 99 Med/ER OASDI/ER FUTA/ER SUI/ER
------------------------------------------------------------------------------------------------------------------------------------
100376 Xxxxxxx,Xxxxxx 09/01/94 BNI 40,367.31 585.33 -
------------------------------------------------------------------------------------------------------------------------------------
102489 Xxxxxx,Xxxxx 10/06/97 BNI 11,746.08 170.31 -
------------------------------------------------------------------------------------------------------------------------------------
102386 Xxxxxxxxxx,Xxxxx 09/15/97 BNI 1,922.31 27.88 119.18
------------------------------------------------------------------------------------------------------------------------------------
107673 Xxxxxxxxx,Xxxxxxxxxx 08/31/98 BNI 2,400.00 34.80 148.80
------------------------------------------------------------------------------------------------------------------------------------
111151 Xxxxxx,Xxxxxx 09/16/99 BNI 581.54 8.44 36.06
------------------------------------------------------------------------------------------------------------------------------------
111264 Xxxxx,Xxxxxx 10/04/99 BNI 1,973.08 28.61 122.33
------------------------------------------------------------------------------------------------------------------------------------
100087 Belt,Xxxxxx R 01/01/92 BNI 46,800.00 678.60 -
------------------------------------------------------------------------------------------------------------------------------------
102347 Xxxxxxx,Xxxx M 09/02/97 BNI 13,800.00 200.10 -
------------------------------------------------------------------------------------------------------------------------------------
102810 Xxxxxx,Xxxxx 12/15/97 BNI 14,580.00 211.41 -
------------------------------------------------------------------------------------------------------------------------------------
101183 Xxxxxxx,Xxxxxx BNI 10,946.38 158.71
------------------------------------------------------------------------------------------------------------------------------------
102850 Xxxxxx,Xxxx 12/29/97 BNI 24,300 00 352.35 -
------------------------------------------------------------------------------------------------------------------------------------
107085 Xxxxxxx,Xxxxxxx 04/12/99 BNI 7,234.62 104.91 53.13
------------------------------------------------------------------------------------------------------------------------------------
111149 Xxxxxxx,Xxxx X. 09/16/99 BNI 3,392.31 49.19 210.32
------------------------------------------------------------------------------------------------------------------------------------
100088 Xxxxxxx,Xxxx R 01/01/92 BNI 90,000.00 1,305.00 -
------------------------------------------------------------------------------------------------------------------------------------
103392 Cant,Xxxxxxx J 03/30/98 BNI 15,000.00 217.50 -
------------------------------------------------------------------------------------------------------------------------------------
111612 Caperan,Xxxxxxx X. 11/29/99 BNI 1,500.00 21.75 93.00 12.00 40.80
------------------------------------------------------------------------------------------------------------------------------------
100934 Xxxxxxx,Xxx 03/18/96 BNI 12,600.00 182.70 -
------------------------------------------------------------------------------------------------------------------------------------
105728 Xxxxxx,Xxxxx BNI 1,938.46 28.11 120.18
------------------------------------------------------------------------------------------------------------------------------------
101393 Cavallari,Ford 11/01/96 BNI 48,173.08 698.51 -
------------------------------------------------------------------------------------------------------------------------------------
111079 Cela,Xxxxxx X. 09/01/99 BNI 6,230.77 90.35 -
------------------------------------------------------------------------------------------------------------------------------------
102346 Xxxxxxxxxxx,Xxxx 09/02/97 BNI 29,340.00 425.43 -
------------------------------------------------------------------------------------------------------------------------------------
108296 Xxxxx,Xxxx X. 08/17/99 BNI 600.00 8.70 37.20 16.32
------------------------------------------------------------------------------------------------------------------------------------
103515 Xxx,Xxxxx 04/13/98 BNI 15,000.00 217.50 -
------------------------------------------------------------------------------------------------------------------------------------
102483 Xxxx,Xxxxxx 10/06/97 BNI 39,657.69 2,750.04
------------------------------------------------------------------------------------------------------------------------------------
107574 Xxxxxx,Xxxx Xxxxxx 06/01/99 BNI 1,502.31 21.78 93.14
------------------------------------------------------------------------------------------------------------------------------------
102054 Xxxxxx,Xxxxxxx 06/23/97 BNI 4,275.00 61.99 265.05
------------------------------------------------------------------------------------------------------------------------------------
108106 Xxxxx,Xxxxxxx X. 08/09/99 BNI 3,973.85 57.62 246.38
------------------------------------------------------------------------------------------------------------------------------------
107084 Xxxxxxx,Xxxxx 04/12/99 BNI 1,578.46 22.89 97.86
------------------------------------------------------------------------------------------------------------------------------------
104860 Xxxxxx,Xxxx Xxxxxxx 10/20/98 BNI 2,370.00 34.37 146.94
------------------------------------------------------------------------------------------------------------------------------------
100365 Devegt,Rolf 08/10/94 BNI 41,076.92 595.61 -
------------------------------------------------------------------------------------------------------------------------------------
101333 Xxxxxxxx,Xxxxxxxx W 10/01/96 BNI 20,550.00 297.98 -
------------------------------------------------------------------------------------------------------------------------------------
111321 Xxxxxxx,Xxxxxx X. 10/15/99 BNI 5,140.38 74.53 318.71 - -
------------------------------------------------------------------------------------------------------------------------------------
100061 Xxxxx, Xxxxxx BNI 18,000.00 261.00 -
------------------------------------------------------------------------------------------------------------------------------------
107573 Xxx,Xxxxxxx 06/07/99 BNI 5711.54 82.81 354.11
------------------------------------------------------------------------------------------------------------------------------------
000000 Xxxxxxx,Xxxxxxxxx X. 09/13/99 BNI 1,753.85 25.43 108.74
------------------------------------------------------------------------------------------------------------------------------------
102908 Xxxxxxx,Xxxxxxx 01/12/98 BNI 6,000.00 87.00 -
------------------------------------------------------------------------------------------------------------------------------------
104508 Xxxxxx,Xxxxx X 09/08/98 BNI 11,760.00 170.52 -
------------------------------------------------------------------------------------------------------------------------------------
107889 Xxxxxxxxx,Xxxxxxx X. 07/12/99 BNI 300.00 4.35 18.60 2.40 8.16
------------------------------------------------------------------------------------------------------------------------------------
105213 Xxxxxx,Xxxxxx M 12/01/98 BNI 2,520.00 36.54 156.24
------------------------------------------------------------------------------------------------------------------------------------
105743 Xxxx,Xxxxx 02/04/99 BNI 2 060.77 29.88 127.77
------------------------------------------------------------------------------------------------------------------------------------
103455 Xxxxxxxxx,Xxxxxxx H 04/06/98 BNI 12,600.00 182.70 -
------------------------------------------------------------------------------------------------------------------------------------
100200 Xxxxxxxxx,Xxxx 07/26/93 BNI 13,200.00 191.40 -
------------------------------------------------------------------------------------------------------------------------------------
107846 Xxxxxx,Xxxxxxxx X. 07/06/99 BNI 4,110.58 59.60 254.85
------------------------------------------------------------------------------------------------------------------------------------
111048 Green,Xxxx X. 09/07/99 BNI 2,795.19 40.53 173.30
------------------------------------------------------------------------------------------------------------------------------------
103295 Xxxxxx,Xxxxxxx J 03/16/98 BNI 20,370.00 295.36 -
------------------------------------------------------------------------------------------------------------------------------------
000000 Xxxxx,Xxxxx 09/03/96 BNI 20,670.00 299.72 -
------------------------------------------------------------------------------------------------------------------------------------
106965 Xxxxxx, Xxxxxxx BNI 1,485.00 21.53 92.07
------------------------------------------------------------------------------------------------------------------------------------
101418 Xxxxxx,Xxxxxxx 11/13/96 BNI 2,280.00 33.06 141.36
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
108107 Xxxxxxx,Xxxxxxxxxxx X. 08/09/99 BNI 751.15 10.90 46.57 0.90
------------------------------------------------------------------------------------------------------------------------------------
111152 Xxxxxxx,Xxxxxxx 09/15/99 BNI 951.92 13.80 59.02
------------------------------------------------------------------------------------------------------------------------------------
104496 Xxxxxxx,Xxxxxxxxx 09/08/98 BNI 9,450.00 137.03 -
------------------------------------------------------------------------------------------------------------------------------------
101845 Jubber,Xxxxx X. 04/21/97 BNI 25,740.00 373.23 -
------------------------------------------------------------------------------------------------------------------------------------
107571 Xxxxxxxx,Xxxx 06/01/99 BNI 1,108.85 16.08 68.75
------------------------------------------------------------------------------------------------------------------------------------
100191 Xxxxxx,Xxxxx X 07/01/93 BNI 13,200.00 191.40 -
------------------------------------------------------------------------------------------------------------------------------------
100274 Xxxxxxx,Xxxx 02/21/94 BNI 6,120.00 88.74 166.81
------------------------------------------------------------------------------------------------------------------------------------
000000 Xxxxx,Xxxxxx X 02/01/96 BNI 39,657.69 2,750.04 -
------------------------------------------------------------------------------------------------------------------------------------
111050 Law,Xxxxx X. 09/07/99 BNI 2,795.19 40.54 173.31
------------------------------------------------------------------------------------------------------------------------------------
111150 Xxxxx,Xxxxxx I 09/16/99 BNI 1,696.15 24.59 105.16
------------------------------------------------------------------------------------------------------------------------------------
111502 Xxxxxx,Xxxxxxxx X. 11/08/99 BNI 553.85 8.03 34.33 4.43 15.07
------------------------------------------------------------------------------------------------------------------------------------
104519 Xxxxxxxx,Xxxxxx 09/08/98 BNI 2,640.00 38.28 163.68
------------------------------------------------------------------------------------------------------------------------------------
111147 Xxxx,Xxxxxxx Xxxxxxx 09/20/99 BNI 2,596.15 37.65 160.96
------------------------------------------------------------------------------------------------------------------------------------
111624 Mishra,Xxxxxx Xxxxx 11/29/99 BNI 986.54 14.30 61.16 7.89 26.84
------------------------------------------------------------------------------------------------------------------------------------
104520 Muelbert,Philipp 09/08/98 BNI 7,920.00 114.84 491.04
------------------------------------------------------------------------------------------------------------------------------------
100550 Xxxxx,Xxxxx X. 04/15/95 BNI 3,480.00 50.46 215.76
------------------------------------------------------------------------------------------------------------------------------------
111148 XXxxxx,Xxxxxxx X. 09/20/99 BNI 3,876.92 56.21 240.37
------------------------------------------------------------------------------------------------------------------------------------
106991 XXxxxxxx,Xxxxxxxx 04/05/99 BNI 2,160.00 31.32 133.92
------------------------------------------------------------------------------------------------------------------------------------
105241 Xxxxxxxxx,Xxxxxx 12/07/98 BNI 2,310.00 33.50 143.22
------------------------------------------------------------------------------------------------------------------------------------
100175 X'Xxxx,Xxxxxx M 04/26/93 BNI 2,103.84 30.51 130.43
------------------------------------------------------------------------------------------------------------------------------------
102678 Xxxxxx,Xxxx 11/17/97 BNI 2,640.00 38.28 163.68
------------------------------------------------------------------------------------------------------------------------------------
104170 Xxxxxxx,Xxxx X 07/20/98 BNI 13,800.00 200.10 -
------------------------------------------------------------------------------------------------------------------------------------
108249 Xxxxxxxxx,Xxxx 08/16/99 BNI 1,104.23 16.01 68.46 0.74
------------------------------------------------------------------------------------------------------------------------------------
103029 Xxxx,Xxxxxxx W 02/02/98 BNI 13,800.00 200.10 -
------------------------------------------------------------------------------------------------------------------------------------
000000 Xxxxxx,Xxx 10/01/97 BNI 27,000.00 391.50 -
------------------------------------------------------------------------------------------------------------------------------------
107702 Xxxxx,Xxxxx 05/10/99 BNI 1,961.54 28.44 121.62
------------------------------------------------------------------------------------------------------------------------------------
111265 Xxxxxxx,Xxxxx 09/30/99 BNI 495.00 7.18 30.69
------------------------------------------------------------------------------------------------------------------------------------
111263 Xxxxxxx,Xxxxxxx X. 10/04/99 BNI 480.00 6.96 29.76 3.84 13.06
------------------------------------------------------------------------------------------------------------------------------------
100749 Xxxxxxx,Xxxxxxx 10/30/95 BNI 3,000.00 43.50 186.00
------------------------------------------------------------------------------------------------------------------------------------
103109 Xxxxx,Xxxx T 02/17/98 BNI 1,891.50 27.43 117.27
------------------------------------------------------------------------------------------------------------------------------------
111610 Xxx,Xxxxxxx 11/29/99 BNI 908.65 13.18 56.34 7.27 31.80
------------------------------------------------------------------------------------------------------------------------------------
107890 Xxxxxxxx,Xxxxxxx X. 07/06/99 BNI 7,200.00 104.40 446.40
------------------------------------------------------------------------------------------------------------------------------------
100769 Xxxxxxx,Xxxx 11/09/95 BNI 10,350.00 150.08 -
------------------------------------------------------------------------------------------------------------------------------------
100769 Xxxxxxx,Xxxx 11/09/95 BNI 3,450.00 50.03 213.90
------------------------------------------------------------------------------------------------------------------------------------
000000 Xxxxxx,Xxxxxxxx X. 10/26/99 BNI 2,653.85 38.48 164.54 1.41
------------------------------------------------------------------------------------------------------------------------------------
100476 Xxx Xxxxxx,Xxxx J 01/05/95 BNI 14,100.00 204.45 -
------------------------------------------------------------------------------------------------------------------------------------
100639 Xxxxxxx,Xxxxxx A 07/24/95 BNI 1,973.08 28.61 -
------------------------------------------------------------------------------------------------------------------------------------
101883 Xxxx,Xxxxx F 05/01/97 BNI 48,173.08 2,873.51 -
------------------------------------------------------------------------------------------------------------------------------------
100684 Xxxxxxx,Xxxxxx 09/02/95 BNI 8,100.00 117.45 -
------------------------------------------------------------------------------------------------------------------------------------
100819 Xxxxxxxxxx,Xxxxxxx A 01/02/96 BNI 9,450.00 137.03 -
------------------------------------------------------------------------------------------------------------------------------------
000000 Xxxxxxxx,Xxxx X. 09/07/99 BNI 2,795.19 40.54 173.31
------------------------------------------------------------------------------------------------------------------------------------
** Xxxxx, Xxxxx BNI 1,880.10
------------------------------------------------------------------------------------------------------------------------------------
953,471.95 20,323.14 7,701.78 37.83 155.10
------------------------------------------------------------------------------------------------------------------------------------
* Xxxxxxx'x second bonus was paid in January. They made adjustments to his
Dec bonus and then paid this additional amount
** Xx. Xxxxx is a contactor not an employee.
Attachment 4.13 - UK February Bonus
Strategy Bonuses - (pound) Sterling
-----------------------------------------------
Bonus Tax Net Emp'ers NI
(pound) (pound) (pound) (pound)
---------------------------------------------------------------------------
Xxxxxxx, Xxxxxxx 1,131.03 260.14 870.89 137.99
Xxxxx, Xxxxxxx 2,512.00 1,004.80 1,507.20 306.46
Xxxxxx, Xxxx 0.00 0.00 0.00 0.00
Xxxxxxxxxx, Xxxxxxxxx 2,512.00 0.00 2,512.00 306.46
Xx, Xxx 314.00 72.22 241.78 38.31
House, Xxx 34,540.00 13,816.00 20,724.00 4,213.88 1.59 exchange rate
Xxxxx, Xxxxx 0.00 0.00 0.00 0.00
Xxxx, Xxxxxxxx 1,131.66 260.28 871.38 138.06
Xxxx, Xxxx 876.69 201.64 675.05 106.96
Souness, Xxxxx 2,198.00 879.20 1,318.80 268.16
Steels, Xxxxxxxxx 1,381.60 0.00 1,381.60 168.56
Xxxxxx, Xxxxx 471.00 108.33 362.67 57.46
Xxxxxxxxx, Xxx 157.00 36.11 120.89 19.15
===============================================
Totals BPS 47,224.98 16,638.72 30,586.26 5,761.45
Totals USD 75,199.01 26,494.77 48,704.24 9,174.28
Total Cost to Company 52,986.43
Total Cost to Company - 84,373.29
USD
Attachment 4.13 - US February Bonus
------------------------------------------------------------------------------------------------------------------------------------
ER
Social ER MA UI-
ID Name SSN Tot Gross Security Medicare FUTA SUTA SPL
------------------------------------------------------------------------------------------------------------------------------------
100376 Xxxxxxx,Xxxxxx 018765896 26,911.54 67.54 390.22
------------------------------------------------------------------------------------------------------------------------------------
102489 Xxxxxx,Xxxxx 182428645 7,830.72 113.55
------------------------------------------------------------------------------------------------------------------------------------
102386 Andromatos,Xxxxx 047621557 1,281.30 79.44 18.58 10.25 33.31 1.54
------------------------------------------------------------------------------------------------------------------------------------
107673 Xxxxxxxxx,Xxxxxxxxxx 112722701 1,200.00 74.40 17.40 9.60 24.00
------------------------------------------------------------------------------------------------------------------------------------
111151 Xxxxxx,Xxxxxx 539848329 291.00 18.04 4.22 2.32 7.57 0.35
------------------------------------------------------------------------------------------------------------------------------------
111264 Xxxxx,Xxxxxx 195724836 1,151.00 71.36 16.69
------------------------------------------------------------------------------------------------------------------------------------
100087 Belt,Xxxxxx R 032604993 31,200.00 1,934.40 452.40
------------------------------------------------------------------------------------------------------------------------------------
102347 Xxxxxxx,Xxxx M 031502970 9,200.00 570.40 133.40 10.38
------------------------------------------------------------------------------------------------------------------------------------
102810 Xxxxxx,Xxxxx 503807838 9,720.00 602.64 140.94
------------------------------------------------------------------------------------------------------------------------------------
102850 Xxxxxx,Xxxx 115382711 8,100.00 502.20 117.45
------------------------------------------------------------------------------------------------------------------------------------
107085 Xxxxxxx,Xxxxxxx 044701432 4,220.00 261.64 61.19 1.57
------------------------------------------------------------------------------------------------------------------------------------
111149 Xxxxxxx,XxxxX. 063500590 1,979.00 122.70 28.70 2.26
------------------------------------------------------------------------------------------------------------------------------------
100088 Xxxxxxx,Xxxx X. 032668936 60,000.00 2,013.84 870.00
------------------------------------------------------------------------------------------------------------------------------------
103392 Cant,Xxxxxxx J 014824159 15,000.00 930.00 217.50
------------------------------------------------------------------------------------------------------------------------------------
111612 Caperan,Xxxxxxx X. 028808651 750.00 46.50 10.88
------------------------------------------------------------------------------------------------------------------------------------
100934 Xxxxxxx,Xxx 025464971 6,300.00 390.60 91.35
------------------------------------------------------------------------------------------------------------------------------------
101393 Cavallari,Ford 026424803 57,115.00 3,541.13 828.17
------------------------------------------------------------------------------------------------------------------------------------
111079 Cela,Xxxxxx X. 019625922 2,000.00 124.00 29.00
------------------------------------------------------------------------------------------------------------------------------------
102346 Xxxxxxxxxxx,Xxxx 147621509 14,670.00 909.54 212.72
------------------------------------------------------------------------------------------------------------------------------------
108296 Xxxxx,Xxxx X. 025565032 400.00 24.80 5.80
------------------------------------------------------------------------------------------------------------------------------------
103515 Xxx,Xxxxx 241372471 10,000.00 620.00 145.O0
------------------------------------------------------------------------------------------------------------------------------------
102483 Xxxx,Xxxxxx 033764821 26,438.00 1,639.16 383.35
------------------------------------------------------------------------------------------------------------------------------------
107574 Xxxxxx,Xxxx Xxxxxx 094341204 500.00 31.00 7.25
------------------------------------------------------------------------------------------------------------------------------------
102054 Xxxxxx,Xxxxxxx 046561991 3,500.00 217.00 50.75
------------------------------------------------------------------------------------------------------------------------------------
108106 Xxxxx,Xxxxxxx X. 292601230 1,500.00 93.00 21.75
------------------------------------------------------------------------------------------------------------------------------------
107084 Xxxxxxx,Xxxxx 048582923 1,052.00 65.22 15.25
------------------------------------------------------------------------------------------------------------------------------------
104860 Xxxxxx,Xxxx Xxxxxxx 010829956 1,580.00 97.96 22.91
------------------------------------------------------------------------------------------------------------------------------------
100365 Devegt,Rolf 019782841 20,000.00 1,240 00 290.00
------------------------------------------------------------------------------------------------------------------------------------
101333 Xxxxxxxx,Xxxxxxxx W 013461853 13,700.00 849.40 198.65
------------------------------------------------------------------------------------------------------------------------------------
111321 Xxxxxxx,Xxxxxx X. 474068137 4,050.00 251.10 58.73
------------------------------------------------------------------------------------------------------------------------------------
100061 Xxxxx,Xxxxxx X 027386120 12,000.00 744.00 174.00
------------------------------------------------------------------------------------------------------------------------------------
107573 Xxx,Xxxxxxx 002624273 3,808.00 236.10 55.22
------------------------------------------------------------------------------------------------------------------------------------
111155 Xxxxxxx,Xxxxxxxxx X. 591189081 1,315.00 81.53 19.07
------------------------------------------------------------------------------------------------------------------------------------
102908 Xxxxxxx,Xxxxxxx 019404576 4,000.00 248.00 58.00
------------------------------------------------------------------------------------------------------------------------------------
104508 Xxxxxx,Xxxxx X 020589808 10,000.00 620.00 145.00
------------------------------------------------------------------------------------------------------------------------------------
105213 Xxxxxx,Xxxxxx M 324688310 1,680.00 104.16 24.36
------------------------------------------------------------------------------------------------------------------------------------
105743 Xxxx,Xxxxx 620058146 1,374.00 85.19 19.92
------------------------------------------------------------------------------------------------------------------------------------
103455 Xxxxxxxxx,Xxxxxxx H 048400087 7,000.00 434.00 101.50
------------------------------------------------------------------------------------------------------------------------------------
100200 Xxxxxxxxx,Xxxx 123683387 8,000.00 496.00 116.00
------------------------------------------------------------------------------------------------------------------------------------
107846 Xxxxxx,Xxxxxxxx X. 227311597 2,055.00 127.41 29.80
------------------------------------------------------------------------------------------------------------------------------------
111048 Green,Xxxx X. 105882218 932.00 57.78 13.51
------------------------------------------------------------------------------------------------------------------------------------
103295 Xxxxxx,Xxxxxxx J 128563459 13,580.00 841.96 196.91
------------------------------------------------------------------------------------------------------------------------------------
101268 Xxxxx,Xxxxx 017807559 13,780.00 854.36 199.81
------------------------------------------------------------------------------------------------------------------------------------
101418 Xxxxxx,Xxxxxxx 255175928 1,520.00 94.24 22.04
------------------------------------------------------------------------------------------------------------------------------------
108107 Xxxxxxx,Xxxxxxxxxxx X. 226025574 500.70 31.04 7.26
------------------------------------------------------------------------------------------------------------------------------------
111152 Xxxxxxx,Xxxxxxx 047623758 519.23 32.19 7.53
------------------------------------------------------------------------------------------------------------------------------------
104496 Xxxxxxx,Xxxxxxxxx 016542431 6,300.00 390.60 91.35
------------------------------------------------------------------------------------------------------------------------------------
101845 Xxxxxx,Xxxxx A 151841818 12,000.00 744.00 174.00
------------------------------------------------------------------------------------------------------------------------------------
107571 Xxxxxxxx,Xxxx 017501511 739.30 45.84 10.72
------------------------------------------------------------------------------------------------------------------------------------
100191 Xxxxxx,Xxxxx X 015366024 8,000.00 496.00 116.00
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
100274 Xxxxxxx,Xxxx 320662324 3,060.00 189.72 44.37
------------------------------------------------------------------------------------------------------------------------------------
000000 Xxxxx,Xxxxxx X 011802391 26,500.00 1,643.00 384.25
------------------------------------------------------------------------------------------------------------------------------------
111050 Law,Xxxxx X. 028823669 932.00 57.78 13.51
------------------------------------------------------------------------------------------------------------------------------------
111150 Xxxxx,Xxxxxx I 577049492 989.00 61.32 14.34
------------------------------------------------------------------------------------------------------------------------------------
111502 Xxxxxx,Xxxxxxxx X. 024600980 500.00 31.00 7.25
------------------------------------------------------------------------------------------------------------------------------------
104519 Xxxxxxxx,Xxxxxx 538924503 1,760.00 109.12 25.52
------------------------------------------------------------------------------------------------------------------------------------
111147 Xxxx,Xxxxxxx Xxxxxxx 346928711 1,298.00 80.48 18.82
------------------------------------------------------------------------------------------------------------------------------------
111692 Xxxxxxx,Xxxxxxxx 031622920 500.00 31.00 7.25
------------------------------------------------------------------------------------------------------------------------------------
111624 Mishra,Xxxxxx Xxxxx 031826899 1,500.00 93.00 21.75
------------------------------------------------------------------------------------------------------------------------------------
104520 Muelbert,Philipp 305135440 4,625.00 286.75 67.06
------------------------------------------------------------------------------------------------------------------------------------
100550 Xxxxx,Xxxxx D 029786500 2,500.00 155.00 36.25
------------------------------------------------------------------------------------------------------------------------------------
111148 O'Brien,Xxxxxxx X. 016423104 2,584.00 160.21 37.47
------------------------------------------------------------------------------------------------------------------------------------
106991 X'Xxxxxxx,Xxxxxxxx 032649152 1,440.00 89.28 20.88
------------------------------------------------------------------------------------------------------------------------------------
105241 Xxxxxxxxx,Xxxxxx 014545677 1,540.00 95.48 22.33
------------------------------------------------------------------------------------------------------------------------------------
100175 X'Xxxx,Xxxxxx M 016746689 3,000.00 186.00 43.50
------------------------------------------------------------------------------------------------------------------------------------
102678 Xxxxxx,Xxxx 095564168 1,760.00 109.12 25.52
------------------------------------------------------------------------------------------------------------------------------------
104170 Xxxxxxx Xxxx K 550992201 9,200.00 570.40 133.40
------------------------------------------------------------------------------------------------------------------------------------
108249 Xxxxxxxxx,Xxxx 419943542 1,000.00 62.00 14.50
------------------------------------------------------------------------------------------------------------------------------------
103029 Xxxx,Xxxxxxx W 443803467 8,050.00 499.10 116.73
------------------------------------------------------------------------------------------------------------------------------------
000000 Xxxxxx,Xxx 138408803 13,500.00 837.00 195.75
------------------------------------------------------------------------------------------------------------------------------------
107702 Xxxxx,Xxxxx 156606234 1,000.00 62.00 14.50
------------------------------------------------------------------------------------------------------------------------------------
111265 Xxxxxxx,Xxxxx 344722762 330.00 20.46 4.79
------------------------------------------------------------------------------------------------------------------------------------
111263 Xxxxxxx,Xxxxxxx X. 366826183 320.00 19.84 4.64
------------------------------------------------------------------------------------------------------------------------------------
100749 Xxxxxxx,Xxxxxxx 480968944 2,000.00 124.00 29.00
------------------------------------------------------------------------------------------------------------------------------------
103109 Xxxxx,Xxxx T 202684012 1,000.00 62.00 14.50
------------------------------------------------------------------------------------------------------------------------------------
111610 Xxx,Xxxxxxx 032821470 500.00 31.00 7.25
------------------------------------------------------------------------------------------------------------------------------------
100769 Thumser,Mark 107509219 6,900.00 427 80 100 05
------------------------------------------------------------------------------------------------------------------------------------
111378 Turben,Nicholas A. 286564972 1,327.00 82.27 19.24
------------------------------------------------------------------------------------------------------------------------------------
100639 Wallace,Carrie A 387829700 2,030.00 125.86 29.44
------------------------------------------------------------------------------------------------------------------------------------
101883 Wery,Roger F 304981394 32,000.00 1,984.00 464.00
------------------------------------------------------------------------------------------------------------------------------------
100684 Whitley,Charla 253173229 4,500.00 279.00 65.25
------------------------------------------------------------------------------------------------------------------------------------
100819 Willoughby,Kenneth A 042583545 5,000.00 310.00 72.50
------------------------------------------------------------------------------------------------------------------------------------
111049 Wolinsky,Mark E. 028826671 1,641.00 101.74 23.79
------------------------------------------------------------------------------------------------------------------------------------
Allnut, David 30,000.00
------------------------------------------------------------------------------------------------------------------------------------
Moran, Craig 1,253.00
------------------------------------------------------------------------------------------------------------------------------------
626,781.79 33,130.14 8,635.17 22.17 64.88 16.10
------------------------------------------------------------------------------------------------------------------------------------
Schedule 4.15 - Provision of Employees
1. Reid Menting - Renaissance Worldwide IT Consulting Services, Inc. 03/31/00
2. John Parnell - Renaissance Worldwide IT Consulting Services, Inc. 03/31/00
3. Mark Braxton - The Hunter Group, Inc. 04/30/00
Schedule 4.17 - Dissolutions and Distributions
a.
1. 1045795 Ontario, Inc. (Canada) dissolved effective November 15, 1999.
2. International Systems Services (UK) Ltd. dissolved effective December 7,
1999.
3. Coba Group USA, Ltd. (GA) to be dissolved.
4. Technomic Consultants, Inc. (IL) to be dissolved.
5. Technomic Research Associates Limited (UK) to be dissolved.
b.
1. Renaissance Worldwide AB (Sweden) distributed effective 01/00.
2. The Management Decisions Group Inc. (IL) distributed effective 02/00.
3. Renaissance Worldwide KK (Japan) distributed effective 02/00.
4. Renaissance Technomic Limited (Hong Kong) distributed effective 12/99.
5. Renaissance Worldwide Strategy (S) Pte. Ltd. distributed effective
12/99.
Schedule 6.13 - Dissolutions and Distributions
1. Technomic Research Associates Limited
2. Coba Group, U.S.A., Ltd.
3. Technomic Consultants, Inc.
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
None.
PART III
ITEM 10. DIRECTORS OF THE REGISTRANT
The information required by this Item is included in Item 1 of this report
or will be included under the captions "Election of Class II Director--Nominee,"
"Election of Class II Director--Other Directors," "Election of Class II
Director--Board of Directors and Committees," and "Election of Class II
Director--Director Compensation" and "Section 16(a) Beneficial ownership
Reporting Compliance' in the Proxy Statement, and is incorporated herein by
reference.
ITEM 11. EXECUTIVE COMPENSATION
The information required by this Item will be included under the captions
"Executive Compensation--Summary Compensation Table," "Executive
Compensation--Option Grants in Last Fiscal Year", "Executive Compensation
--Aggregated Option Exercises in Last Fiscal Year and Fiscal Year-End Option
Values" and "Executive Compensation--Employment Agreements" in the Proxy
Statement and is incorporated herein by reference.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
The information required by this Item will be included under the caption
"Security Ownership of Certain Beneficial Owners and Management" in the Proxy
Statement and is incorporated herein by reference.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
The information required by this Item will be included under the caption
"Certain Relationships and Related Transactions" in the Proxy Statement and is
incorporated herein by reference.
