EXHIBIT 2
AMENDMENT TO AGREEMENT AND PLAN OF REORGANIZATION
THIS AMENDMENT TO AGREEMENT AND PLAN OF REORGANIZATION (this
"Amendment") is made as of August 15, 1996 by and among American Residential
Services, Inc., a Delaware corporation ("ARS"), ARS Atlas Inc., a South Carolina
corporation and a wholly owned subsidiary of ARS ("Acquisition"), and Atlas
Services, Inc., a South Carolina corporation ("Atlas"), and the persons listed
on the signature pages hereof under the captions "Stockholders" (collectively,
the "Stockholders," and each of those persons, individually, a "Stockholder")
and "Other Stockholders" (collectively, the "Other Stockholders," and each of
those persons, individually, an "Other Stockholder").
WITNESSETH:
WHEREAS, ARS, Acquisition, Atlas, the Stockholders and the Other
Stockholders are parties to an Agreement and Plan of Reorganization dated as of
June 13, 1996 (the "Merger Agreement;" capitalized terms used but not otherwise
defined herein having the meanings assigned to them in the Merger Agreement)
providing for, among other things, the merger of Acquisition with and into
Atlas; and
WHEREAS, Schedule 2.04 to the Merger Agreement contained technical
errors in Section C thereof in that (i) the formula set forth therein relating
to the calculation of the number of shares of ARS Common Stock to be distributed
to the Stockholders and the Other Stockholders included a $21,000,000 amount
that should have been stated as $16,000,000 and (ii) the table showing the
allocation of the Merger Consideration among the Stockholders and the Other
Stockholders misstated certain percentages; and
WHEREAS, the parties hereto desire to correct said Schedule 2.04;
NOW, THEREFORE, in consideration of the premises and the mutual
agreements contained herein, the parties hereto hereby agree as follows:
Section 1. AMENDMENTS AND RESTATEMENT OF SCHEDULE 2.04.
Schedule 2.04 to the Merger Agreement is hereby amended and restated
to read in its entirety as set forth in Schedule 2.04 attached hereto.
Section 2. EFFECT ON MERGER AGREEMENT. Except to the extent of the
amendment set forth in Section 1 hereof, all provisions of the Merger Agreement
are and shall remain in full force and effect and are hereby ratified and
confirmed in all respects, and the execution, delivery and
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effectiveness of this Amendment shall not operate as a waiver or amendment of
any provision of the Merger Agreement not specifically amended herein.
Section 3. EXECUTION IN COUNTERPARTS; EFFECTIVENESS. This Amendment
may be executed in any number of counterparts, each of which shall be deemed for
all purposes to be an original, but all of which together shall constitute one
and the same Amendment. This Amendment shall be effective as of the date first
above written.
Section 4. GOVERNING LAW. This Amendment shall be governed by and
construed and enforced in accordance with the substantive laws of the State of
New York without regard to the conflicts of law provisions thereof.
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IN WITNESS WHEREOF, the parties hereto have executed this Amendment
as of the date first above written.
AMERICAN RESIDENTIAL SERVICES, INC.
By:
C. Xxxxxxxx Xxxxxx, Xx.
Chief Executive Officer and President
ARS ATLAS INC.
By:
C. Xxxxxxxx Xxxxxx, Xx.
Chief Executive Officer and President
ATLAS SERVICES, INC.
By:
Xxxxxx X. Xxxxxxx
President
STOCKHOLDERS:
Xxxxxx X. Xxxxxxx
Xxxxxx X. Xxxxxxx as Trustee
under Xxxxxx X. Xxxxxxx
Retained Annuity Trust
OTHER STOCKHOLDERS:
*
Xxxxxxx X. Quick
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*
Xxxx X. Xxxxxx
*
Xxxxxx X. Xxxxxx
*
Xxxx Xxx
*
Xxxxx Xxxxx
*
Xxxxxxx Xxxx
*
Xxxxx Xxxxxxx
*
Xxxxxx Xxxxxxx
*
Xxx Xxxxxxx Xxxxxxx
*
Xxxxxxx Xxxx XxXxxxx
*
Xxxx X. Xxxxxxx
*
Xxxxxx Xxxxxxxx
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*
Xxxxx X. Xxxxxxxx
*
Xxxxx Xxxxx
*
Xxxxxxx Xxx Xxxxxxx
*
Xxxxxx Xxxxxxxx
*
Xxxxxxx Xxxxxxxxxx
*
Xx Xxxxx
*
Xxx Xxxxxxxxxx
*By:
Xxxxxx X. Xxxxxxx
Attorney-in-Fact
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SCHEDULE 2.04
to the
Agreement and Plan of Reorganization
dated as of June 13, 1996
by and among
American Residential Services, Inc.,
ARS Atlas Inc.,
Atlas Services, Inc.
and
the Stockholders and Other Stockholders named therein,
as amended
A. Words and terms used in this Schedule which are defined in
the captioned Agreement to which this Schedule is attached as Schedule 2.04 are
used herein as defined therein.
B. The name and address of each Stockholder and Other
Stockholder are as follows:
STOCKHOLDERS ADDRESS
---------------------------------------- --------------------------------------
X/X XXXXX XXXXXXXX, XXX.
0000 XXXXX XXXXXXX XXXXX
XXXXXX X. XXXXXXX....................... XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
XXXXXX X. XXXXXXX AS TRUSTEE C/O ATLAS SERVICES, INC.
UNDER XXXXXX X. XXXXXXX RETAINED 3548 XXXXX XXXXXXX DRIVE
ANNUITY TRUST ........................ XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
OTHER STOCKHOLDERS:
---------------------------------------- --------------------------------------
X/X XXXXX XXXXXXXX, XXX.
0000 XXXXX XXXXXXX XXXXX
XXXXXXX X. QUICK........................ XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
X/X XXXXX XXXXXXXX, XXX.
0000 XXXXX XXXXXXX XXXXX
XXXXXX X. XXXXXX........................ XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
C/O ATLAS SERVICES, INC.
3548 XXXXX XXXXXXX DRIVE
XXXXX XXXXXXX........................... XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
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STOCKHOLDERS ADDRESS
---------------------------------------- --------------------------------------
C/O ATLAS SERVICES, INC.
3548 XXXXX XXXXXXX DRIVE
XXXX X. XXXXXX.......................... XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
C/O ATLAS SERVICES, INC.
3548 XXXXX XXXXXXX DRIVE
XXX XXXXXXX XXXXXXX..................... XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
X/X XXXXX XXXXXXXX, XXX.
0000 XXXXX XXXXXXX XXXXX
XXXXXXX XXXX XXXXXXX.................... XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
X/X XXXXX XXXXXXXX, XXX.
0000 XXXXX XXXXXXX XXXXX
XXXX. X. XXXXXXX........................ XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
C/O ATLAS SERVICES, INC.
3548 XXXXX XXXXXXX DRIVE
XXXXXXX XXXX............................ XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
C/O ATLAS SERVICES, INC.
3548 XXXXX XXXXXXX DRIVE
XXXXX X. XXXXXXXX....................... XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
C/O ATLAS SERVICES, INC.
3548 XXXXX XXXXXXX DRIVE
XXXXX XXXXX............................. XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
C/O ATLAS SERVICES, INC.
3548 XXXXX XXXXXXX DRIVE
XXXXXX XXXXXXXX......................... XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
C/O ATLAS SERVICES, INC.
3548 XXXXX XXXXXXX DRIVE
XXXXXXX XXXXXXXXXX...................... XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
X/X XXXXX XXXXXXXX, XXX.
0000 XXXXX XXXXXXX XXXXX
XXXX XXX................................ XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
C/O ATLAS SERVICES, INC.
3548 XXXXX XXXXXXX DRIVE
XXXXX XXXXX ............................ XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
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STOCKHOLDERS ADDRESS
---------------------------------------- --------------------------------------
C/O ATLAS SERVICES, INC.
3548 XXXXX XXXXXXX DRIVE
XXXXXX XXXXXXX ......................... XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
C/O ATLAS SERVICES, INC.
3548 XXXXX XXXXXXX DRIVE
XXXXXX XXXXXXXX ........................ XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
C/O ATLAS SERVICES, INC.
3548 XXXXX XXXXXXX DRIVE
XXXXXXX XXX XXXXXXX .................... XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
C/O ATLAS SERVICES, INC.
0000 XXXXX XXXXXXX XXXXX
XX XXXXX ............................... XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
C/O ATLAS SERVICES, INC.
0000 XXXXX XXXXXXX XXXXX
XXX XXXXXXXXXX ......................... XXXXXXXXXX, XX 00000
---------------------------------------- --------------------------------------
C. SUBJECT TO INCREASE OR REDUCTION BY THE APPLICATION OF THE
POSITIVE WORKING CAPITAL ADJUSTMENT OR THE NEGATIVE WORKING CAPITAL ADJUSTMENT,
AS THE CASE MAY BE, THE AGGREGATE MERGER CONSIDERATION WILL BE COMPRISED OF (1)
$5,000,000 IN CASH AND (2) SUCH NUMBER OF WHOLE AND FRACTIONAL SHARES OF ARS
COMMON STOCK AS SHALL EQUAL THE QUOTIENT OF (A) $16,000,000 DIVIDED BY (B) THE
IPO PRICE, AND THE STOCKHOLDERS AND THE OTHER STOCKHOLDERS WILL BE ENTITLED TO
RECEIVE THE MERGER CONSIDERATION PURSUANT TO SECTION 2.04 AS FOLLOWS:
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SHARES OF
PRE-MERGER SHARE OF
COMPANY MERGER CONSIDERATION
COMMON STOCK PRO RATA ---------------------
OWNED SHARE CASH STOCK
------------ -------- -------- --------
STOCKHOLDERS:
XXXXXX X. XXXXXXX........... 12,000 49.3766% 80.0000% 39.8068%
XXXXXX X. XXXXXXX AS
TRUSTEE UNDER XXXXXX X.
XXXXXXX RETAINED
ANNUITY TRUST............. 8,000 32.9178 19.6276 37.0710
OTHER STOCKHOLDERS:
Xxxxxxx X. Quick.......... 702 2.8885 - 3.7912
Xxxxxx X. Xxxxxx.......... 838 3.4481 - 4.5257
Xxxxx Xxxxxxx............. 992 4.0818 - 5.3574
Xxxx X. Xxxxxx............ 202 0.8312 - 1.0909
Xxx Xxxxxxx Xxxxxxx....... 243 0.9999 - 1.3123
Xxxxxxx Xxxx XxXxxxx ..... 30 0.1234 - 0.1620
Xxxx X. Xxxxxxx........... 18 0.0741 - 0.0972
Xxxxxxx Xxxx.............. 441 1.8146 - 2.3817
Xxxxx X. Xxxxxxxx......... 54 0.2222 - 0.2916
Xxxxx Xxxxx............... 23 0.0946 - 0.1242
Xxxxxx Xxxxxxxx........... 19 0.0782 - 0.1026
Xxxxxxx Xxxxxxxxxx........ 14 0.0576 - 0.0756
Xxxx Xxx ................. 198 0.8147 0.3422 0.9624
Xxxxx Xxxxx .............. 30 0.1234 - 0.1620
Xxxxxx Xxxxxxx ........... 344 1.4155 - 1.8578
Xxxxxx Xxxxxxxx .......... 59 0.2428 - 0.3186
Xxxxxxx Xxx Xxxxxxx ...... 6 0.0247 - 0.0324
Xx Xxxxx ................. 83 0.3415 - 0.4482
Xxx Xxxxxxxxxx ........... 7 0.0288 0.0302 0.0284
--------- --------- -------- --------
24,303 100.00% 100.00% 100.00%
========= ========= ======== ========
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