企业合并协议1.docx
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企业合并协议1.docx
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企业合并协议1
AGREEMENTANDPLAN
OFMERGEROFTNAVHOLDINGS,INC.
ADELAWARECORPORATION
AND
TELENAV,INC.
ADELAWARECORPORATION
THISAGREEMENTANDPLANOFMERGERdatedasofApril15,2010,(the"Agreement")isbetweenTNAVHoldings,Inc.,aDelawarecorporation("TNAVHoldings")andTeleNav,Inc.,aDelawarecorporation("TeleNav").TNAVHoldingsandTeleNavaresometimesreferredtohereinasthe"ConstituentCorporations."
RECITALSA.
TNAVHoldingsisacorporationdulyorganizedandexistingunderthelawsoftheStateofDelawareandhasanauthorizedcapitalSixtyFiveMillionTwentyFourThousandSevenHundredTwentyEight(65,024,728) sharesofcapitalstock,ofwhichtherearedesignatedFortyOneMillionSixHundredSixtySixThousandSixHundredSixtySix(41,666,666),$0.001parvalue,sharesofcommonstock(the"CommonStock"),ThreeHundredThirtyThreeThousandThreeHundredThirtyThree(333,333),$0.001parvalue,sharesofSeries APreferredStock(the"SeriesAPreferred"),FourHundredTwoThousandThreeHundredNinetyThree(402,393),$0.001parvalue,sharesofSeriesBPreferredStock(the"SeriesBPreferred"),FourHundredEightyEightThousandNineHundredNinetyNine(488,999),$0.001parvalue,sharesofSeriesBPrimePreferredStock(the"SeriesBPrimePreferred"),FiveMillionOneHundredSixtyTwoThousandTwoHundredSixtyTwo(5,162,262),$0.001parvalue,sharesofSeriesCPreferredStock(the"SeriesCPreferred"),TwoMillionThreeHundredSixtySixThousandNineHundredNine(2,366,909),$0.001parvalue,sharesofSeriesCPrimePreferredStock(the"SeriesCPrimePreferred"),FiveMillionTwoHundredTwentyNineThousandOneHundredSixtySix(5,229,166),$0.001parvalue,sharesofSeriesDPreferredStock(the"SeriesDPreferred")andNineMillionThreeHundredSeventyFiveThousand(9,375,000),$0.001parvalue,sharesofSeriesEPreferredStock(the"SeriesEPreferred").TheSeries APreferred,Series BPreferred,Series BPrimePreferred,Series CPreferred,Series CPrimePreferred,Series DPreferredandSeriesEPreferredare,together,referredtohereinasthe"PreferredStock"and,togetherwiththeCommonStock,as"TNAVStock."AsofthedateofthisAgreementofMerger,1,000sharesofCommonStockareissuedandoutstanding,allofwhichwereheldbyTeleNav.NosharesofPreferredStockareoutstanding.
B.TeleNavisacorporationdulyorganizedandexistingunderthelawsoftheStateofDelawareandhasanauthorizedcapitalofSevenHundredEightyMillionTwoHundredNinetySixThousandSevenHundredEighty(780,296,780) sharesofcapitalstock,ofwhichtherearedesignatedFiveHundredMillion(500,000,000),$0.001parvalue,sharesofcommonstock(the"TeleNavCommonStock"),FourMillion(4,000,000),$0.001parvalue,sharesofSeries APreferredStock(the"TeleNavSeriesAPreferred"),FourMillionEightHundredTwentyEightThousandSevenHundredandTwentyTwo(4,828,722),$0.001parvalue,sharesofSeriesBPreferredStock(the"TeleNavSeriesBPreferred"),FiveMillionEightHundredSixtySevenThousandNineHundredNinetySix(5,867,996),$0.001parvalue,sharesofSeriesBPrimePreferredStock(the"TeleNavSeriesBPrimePreferred"),SixtyOneMillionNineHundredFortySevenThousandOneHundredFifty(61,947,150),$0.001parvalue,sharesofSeriesCPreferredStock(the"TeleNavSeriesCPreferred"),TwentyEightMillionFourHundredTwoThousandNineHundredTwelve(28,402,912),$0.001parvalue,sharesofSeriesCPrimePreferredStock(the"TeleNavSeriesCPrimePreferred"),SixtyTwoMillionSevenHundredFiftyThousand(62,750,000),$0.001parvalue,sharesofSeriesDPreferredStock(the"TeleNavSeriesDPreferred")andOneHundredTwelveMillionFiveHundredThousand(112,500,000),$0.001parvalue,sharesofSeriesEPreferredStock(the"TeleNavSeriesEPreferred").TheTeleNavSeries APreferred,TeleNavSeries BPreferred,TeleNavSeries BPrimePreferred,TeleNavSeries CPreferred,TeleNavSeries CPrimePreferred,TeleNavSeries DPreferredandTeleNavSeriesEPreferredare,together,referredtohereinasthe"TeleNavPreferredStock."AsoftherecorddateofthemeetingofstockholdersatwhichthisAgreementofMergerwasapproved,138,298,252sharesofTeleNavCommonStock,4,000,000sharesofTeleNavSeries APreferred,4,828,722sharesofTeleNavSeries BPreferred,5,867,996sharesofTeleNavSeries BPrimePreferred,61,947,150sharesofTeleNavSeriesCPreferred,28,402,912sharesofTeleNavSeries CPrimePreferred,62,750,000sharesofTeleNavSeriesDPreferredand109,483,679sharesofTeleNavSeries EPreferredwereissuedandoutstanding.
C.InApril,2009,theBoardofDirectorsofTeleNavsought,andsubsequentlyobtained,ratification(the"2009Ratification")ofthecertificateofamendmenttotheSecondAmendedandRestatedCertificateofIncorporation,whichwasfiledwiththeSecretaryofStateoftheStateofDelaware(the"SecretaryofState")onJune 2,2000(the"StockSplitAmendment"),which,amongotherthings,effectedatwo-for-onestocksplit(the"StockSplit")andanincreaseinthethen-authorizednumberofsharesoftheCompany'sTeleNavCommonStockandTeleNavSeriesAPreferredandTeleNavSeriesBPreferred,andtheissuanceofsharesofTeleNavCommonStock,TeleNavSeriesAPreferredandTeleNavSeriesBPreferredpursuantthereto(the"RatifiedStockSplitShares").
D.The2009RatificationalsoratifiedtheissuanceofsharesofTeleNavSeriesBPrimePreferredpursuanttothefilingbyTeleNavwiththeSecretaryofStateonNovember 19,2001,ofitsThirdAmendedandRestatedCertificateofIncorporation(thesharessoissuedthe"RatifiedSeriesBPrimePreferredShares").
E.Asthefinalstepinremedyingtherecord-keepingissuesthatresultedintheBoardseekingthe2009Ratification,andtoensurethatthereisnoquestionregardingthevalidissuanceoftheRatifiedStockSplitSharesortheRatifiedSeriesBPrimePreferredShares(together,the"RatifiedShares"),theBoardofDirectorsofTeleNavhasdeterminedthatitisadvisableandinthebestinterestsofTeleNavthatTeleNavmergewithandintoTNAVHoldingsuponthetermsandconditionshereinprovided.
F.TherespectiveBoardsofDirectorsofTNAVHoldingsandTeleNavhaveapprovedthisAgreementandhavedirectedthatthisAgreementbesubmittedtoavoteoftheirrespectivestockholdersandexecutedbytheundersignedofficers.
NOW,THEREFORE,inconsiderationofthemutualagreementsandcovenantssetforthherein,TNAVHoldingsandTeleNavherebyagree,subjecttothetermsandconditionshereinaftersetforth,asfollows:
I.MERGER
1.1Merger.InaccordancewiththeprovisionsofthisAgreement,theDelawareGeneralCorporationLaw,TeleNavshallbemergedwithandintoTNAVHoldings(the"Merger"),theseparateexistenceofTeleNavshallceaseandTNAVHoldingsshallbe,andishereinsometimesreferredas,the"SurvivingCorporation,"andthenameoftheSurvivingCorporationshallbeTeleNav,Inc.
1.2FilingandEffectiveness.PursuanttoSection 251andSection103(d)oftheDelawareGeneralCorporationLaw,thedateandtimewhentheMergershallbecomeeffectiveshallbethedateuponwhichthisAgreementmeetingtherequirementsoftheDelawareGeneralCorporationLawisfiledwiththeSecretaryofState.Suchdateandtimeishereincalledthe"EffectiveDateoftheMerger."
1.3EffectoftheMerger.UpontheEffectiveDateoftheMerger,theseparateexistenceofTeleNavshallceaseandTNAVHoldings,astheSurvivingCorporation,(i) shallcontinuetopossessallofitsassets,rights,powersandpropertyasconstitutedimmediatelypriortotheEffectiveDateoftheMerger,(ii) shallbesubjecttoallactionspreviouslytakenbyitsandTeleNav'sBoardofDirectors,(iii) shallsucceed,withoutothertransfer,toalloftheassets,rights,powersandpropertyofTeleNavinthemannermorefullysetforthinSection 259oftheDelawareGeneralCorporationLaw,(iv) shallcontinuetobesubjecttoallofthedebts,liabilitiesandobligationsofTNAVHoldingsasconstitutedimmediatelypriortotheEffectiveDateoftheMerger,and(v) shallsucceed,withoutothertransfer,toallofthedebts,liabilitiesandobligationsofTeleNavinthesamemannerasifTNAVHoldingshaditselfincurredthem,allasmorefullyprovidedundertheapplicableprovisionsoftheDelawareGeneralCorporationLaw.
II.CHARTERDOCUMENTS,DIRECTORSANDOFFICERS
2.1CertificateofIncorporation.UpontheEffectiveDateoftheMerger,Article1.1oftheCertificateofIncorporationofTNAVHoldingsshallbeamendedtochangeitsnametoTeleNav,Inc.butotherthanthenamechangetheCertificateofIncorporationofTNAVHoldingsasineffectimmediatelypriortotheEffectiveDateoftheMergershallcontinueinfullforceandeffectastheCertificateofIncorporationoftheSurvivingCorporationuntildulyamendedinaccordancewiththeprovisionsthereofandapplicablelaw.
2.2Bylaws.TheBylawsofTNAVHoldingsasineffectimmediatelypriortotheEffectiveDateoftheMergershallcontinueinfullforceandeffectastheBylawsoftheSurvivingCorporationuntildulyamendedinaccordancewiththeprovisionsthereofandapplicablelaw.
2.3DirectorsandOfficers.ThedirectorsandofficersofTNAVHoldingsimmediatelypriortotheEffectiveDateoftheMergershallbethedirectorsandofficersoftheSurvivingCorporationuntiltheirsuccessorsshallhavebeendulyelectedandqualifiedoruntilasotherwiseprovidedbylaw,theCertificateofIncorporationoftheSurvivingCorporationortheBylawsoftheSurvivingCorporation.
III.MANNEROFCONVERSIONOFSTOCKANDRIGHTS
3.1TeleNavCommonShares.UpontheEffectiveDateoftheMerger,each
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