Agreement and Plan of Merger (2018)Full Document 

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AGREEMENT AND PLAN OF MERGER

dated as of September 14, 2018 by and among

THE PROVIDENCE SERVICE CORPORATION,

LOGISTICARE SOLUTIONS, LLC,

CATAPULT MERGER SUB, INC.,

CIRCULATION, INC.

and

FORTIS ADVISORS LLC
 
 
 
 
 





TABLE OF CONTENTS
 
 
Page

 
ARTICLE I
 
 
 
 
 
DEFINITIONS
 
Section 1.1.
Certain Definitions
2

Section 1.2.
Certain Additional Definitions
17

 
 
 
 
ARTICLE II
 
 
 
 
 
THE MERGER
 
Section 2.1.
The Merger
19

Section 2.2.
Effects of the Merger
19

Section 2.3.
Closing
19

Section 2.4.
Effective Time
19

Section 2.5.
Certificate of Incorporation and Bylaws; Directors and Officers
20

Section 2.6.
Conversion of Securities
20

Section 2.7.
Treatment of Company Options
21

Section 2.8.
Retention Holdback
23

 
 
 
 
ARTICLE III
 
 
 
 
 
CLOSING PAYMENTS; EXCHANGE OF COMPANY CERTIFICATES
 
Section 3.1.
Closing Payments
23

Section 3.2.
Dissenting Shares
26

Section 3.3.
No Further Ownership Rights in Shares of Company Capital Stock; Closing of Company Transfer Books
26

Section 3.4.
Post-Closing Adjustment
27

Section 3.5.
Withholding Rights
29

 
 
 
 
ARTICLE IV
 
 
 
 
 
REPRESENTATIONS AND WARRANTIES OF THE COMPANY
 
 
 
 
Section 4.1.
Authority
30

Section 4.2.
Organization; No Subsidiaries
31

Section 4.3.
Company Capital Stock
32

Section 4.4.
Conflicts
33

Section 4.5.
Governmental Approvals, Etc
34

Section 4.6.
Financial Statements
34

Section 4.7.
Undisclosed Liabilities
35

Section 4.8.
Certain Changes or Events
35

Section 4.9.
Tax Matters
37

Section 4.10.
Litigation and Governmental Orders
39

Section 4.11.
Compliance with Laws
40

Section 4.12.
Permits
40





Section 4.13.
Tangible Property
40

Section 4.14.
Intellectual Property Rights
41

Section 4.15.
Certain Contracts
46

Section 4.16.
Employee Benefit Matters
48

Section 4.17.
Labor Matters
51

Section 4.18.
Environmental Matters
52

Section 4.19.
Related Party Transactions
52

Section 4.20.
Insurance Policies
52

Section 4.21.
Brokers
53

Section 4.22.
Healthcare Matters
53

Section 4.23.
HIPAA Compliance
54

Section 4.24.
Accounts Receivable
55

Section 4.25.
Compliance with Anti-Corruption Laws
55

Section 4.26.
Export Controls
56

 
 
 
 
ARTICLE V
 
 
 
 
REPRESENTATIONS AND WARRANTIES OF PARENT, BUYER AND MERGER
SUB

 
 
 
Section 5.1.
Authority
57
Section 5.2.
Organization
57
Section 5.3.
Conflicts
58
Section 5.4.
Consents, Approvals, Etc
58
Section 5.5.
Sufficient Funds
59
Section 5.6.
Brokers
59
 
 
 
 
ARTICLE VI
 
 
 
 
 
ADDITIONAL AGREEMENTS
 
Section 6.1.
No Solicitation
59
Section 6.2.
Conduct of the Company Prior to the Effective Time
60
Section 6.3.
Access to Information
63
Section 6.4.
Confidentiality; Public Announcements
64
Section 6.5.
Efforts; Consents; Other Authorizations
64
Section 6.6.
Indemnification; Directors’ and Officers’ Insurance
65
Section 6.7.
Employee Benefit Matters
66
Section 6.8.
Tax Matters
67
Section 6.9.
Notice of Certain Events
68
Section 6.10.
Termination of Affiliate Agreements
69
Section 6.11.
Payoff Letters and Invoices
69
Section 6.12.
Form S-8
69
Section 6.13.
Section 280G
69
Section 6.14.
Company Benefit Plans
70
Section 6.15.
Takeover Statutes
70
 
 
 




 
ARTICLE VII
 
 
 
 
 
CONDITIONS TO CLOSING
 
Section 7.1.
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