Agreement and Plan of Merger (2017)Full Document 

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AGREEMENT AND PLAN OF MERGER

among

TELEFLEX INCORPORATED,

TELEFLEX UROLOGY LIMITED,

NAPLES MERGER SUB INC.,

NEOTRACT, INC.

and

Shareholder Representative Services LLC, as the Stockholder Representative

Dated as of September 4, 2017


TABLE OF CONTENTS

ARTICLE I THE CLOSING

1

Section 1.1. The Merger

1

Section 1.2. Closing

2

Section 1.3. Effective Time

2

Section 1.4. Effects of the Merger

2

Section 1.5. Certificate of Incorporation and Bylaws of the Surviving Corporation

3

Section 1.6. Directors and Officers of the Surviving Corporation

3

ARTICLE II Consideration

3

Section 2.1. Closing Payments

3

Section 2.2. Effect on Capital Stock of the Company

4

Section 2.3. Treatment of Company Options and Warrants

8

Section 2.4. Determination of Purchase Price

10

Section 2.5. Post-Closing Purchase Price Adjustment

10

Section 2.6. Earn-Out Payments

12

Section 2.7. Paying Agent and Letter of Transmittals

20

Section 2.8. Appraisal Shares

21

Section 2.9. No Further Transfers

22

Section 2.10. Withholding

22

ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE COMPANY

22

Section 3.1. Organization and Corporate Power

22

Section 3.2. Capitalization

23

Section 3.3. Authority

25

Section 3.4. Consents and Approvals; No Conflicts

25

Section 3.5. Financial Statements and Undisclosed Liabilities

26

Section 3.6. Absence of Certain Changes or Events

27

Section 3.7. Legal Proceedings

27

Section 3.8. Compliance with Laws; Permits

27

Section 3.9. Company Material Contracts

28

Section 3.10. Company Benefit Plans

30

Section 3.11. Labor Matters

32

Section 3.12. Taxes

32

Section 3.13. Intellectual Property

34

Section 3.14. Environmental Matters

34

Section 3.15. Real Property

35

Section 3.16. Insurance

35

Section 3.17. Certain Regulatory Matters

35

Section 3.18. Inventory

37

Section 3.19. Product Liability

37

Section 3.20. Transactions with Affiliates

37

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Section 3.21. Stockholder Vote Required

37

Section 3.22. Brokers

38

Section 3.23. No Other Representations or Warranties

38

ARTICLE IV REPRESENTATIONS AND WARRANTIES OF PARENT, Buyer, AND MERGER SUB

38

Section 4.1. Organization and Corporate Power

38

Section 4.2. Authority

39

Section 4.3. Consents and Approvals; No Conflicts

39

Section 4.4. Legal Proceedings

40

Section 4.5. Brokers

40

Section 4.6. Availability of Funds

40

Section 4.7. Absence of Parent Material Adverse Effect

40

Section 4.8. No Other Representations or Warranties

40

ARTICLE V COVENANTS

41

Section 5.1. Company Conduct of Business Prior to the Effective Time

41

Section 5.2. Access to Information

44

Section 5.3. Reasonable Best Efforts

44

Section 5.4. Notification of Certain Matters

46

Section 5.5. Publicity

46

Section 5.6. Director & Officer Indemnification

47

Section 5.7. Employee Matters

48

Section 5.8. 280G Stockholder Vote

49

Section 5.9. Payoff of Credit Facilities

50

Section 5.10. Stockholder Consents

50

Section 5.11. Exclusivity

50

Section 5.12. Debt Financing

50

Section 5.13. Tax Matters

53

Section 5.14. Directors

55

Section 5.15. Buyer and Merger Sub Compliance

55

ARTICLE VI CONDITIONS TO THE MERGER

55

Section 6.1. Conditions to Obligations of Each Party

55

Section 6.2. Conditions to Obligations of Parent, Buyer and Merger Sub to Effect the Merger

55

Section 6.3. Conditions to Obligations of the Company to Effect the Merger

56

ARTICLE VII TERMINATION