Agreement and Plan of Merger (2001)Full Document 

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                          AGREEMENT AND PLAN OF MERGER

                                 BY AND BETWEEN

                            SCOVILL HOLDINGS INC.

                                       AND

                            SCOVILL FASTENERS INC.

                                 August 3, 2001
   2
                                TABLE OF CONTENTS

Page ARTICLE I CERTAIN DEFINITIONS........................................... 1 ARTICLE II THE MERGER................................................... 2 2.1. The Merger.......................................................... 2 2.2. Effective Time of the Merger........................................ 3 2.3. Effects of the Merger............................................... 3 2.4. Closing............................................................. 3 2.5. Certificate of Incorporation........................................ 3 2.6. By-Laws............................................................. 3 2.7. Directors........................................................... 3 2.8. Officers............................................................ 3 2.9. U.S. Federal Income Tax Treatment................................... 3 ARTICLE III CONVERSION OF SECURITIES.................................... 4 3.1. Effect of the Merger on Capital Stock............................... 4 3.2. No Further Ownership Rights in Holdings Common Stock................ 4 3.3. No Fractional Shares of Fasteners Common Stock...................... 4 3.4. Lost Certificates................................................... 4 3.5. Further Assurances.................................................. 5 3.6. Stock Transfer Books................................................ 5 ARTICLE IV GENERAL PROVISIONS........................................... 5 4.1. Termination......................................................... 5 4.2. Counterparts........................................................ 5 4.3. Entire Agreement.................................................... 5 4.4. Governing Law....................................................... 6 4.5. Severability........................................................ 6 4.6. Assignment.......................................................... 6
i 3 This Agreement and Plan of Merger, dated as of August 3, 2001 (this "Agreement"), by and between Scovill Holdings Inc., a Delaware corporation ("Holdings") and Scovill Fasteners Inc., a Delaware corporation ("Fasteners"). WITNESSETH: WHEREAS, Holdings and Fasteners desire to restructure certain indebtedness evidenced by Fasteners' outstanding 11 1/4% Senior Notes due 2007 (the "Old Notes"), and in connection therewith are entering into the Exchange Agreement and certain other related agreements dated as of the date hereof (the "Transaction") pursuant to which Fasteners will issue certain new bonds of Fasteners and Fasteners Common Stock in exchange for the Old Notes (the "Exchange"); WHEREAS, Fasteners is a wholly owned subsidiary of Holdings and the Board of Directors of Holdings has approved and deemed it advisable and in the best interest of Holdings and its stockholders to consummate the merger of Holdings with and into Fasteners upon the terms and subject to the conditions set forth herein; and WHEREAS, it is intended for U.S. federal income tax purposes that the Merger provided for herein shall qualify as a reorganization within the meaning of Section 368(a)(1)(A) of the Code; NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth in this Agreement, and intending to be legally bound hereby, the parties hereto agree as follows: ARTICLE I CERTAIN DEFINITIONS As used in this Agreement, the following terms shall have the respective meanings set forth below: "Agreement" shall have the meaning set forth in the preamble. "Amended and Restated Certificate of Incorporation" shall have the meaning set forth in Section 2.5. "Certificate of Ownership and Merger" shall have the meaning set forth in Section 2.2. "Closing" shall have the meaning set forth in Section 2.4. "Closing Date" shall have the meaning set forth in Section 2.4.
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