EXECUTION VERSION
 
 AGREEMENT AND PLAN OF MERGER
 BY AND AMONG
 COGDELL SPENCER INC.,
 COGDELL SPENCER LP,
 GOLDENBOY ACQUISITION CORP.,
 MEA HOLDINGS, INC.,
 MARSHALL ERDMAN & ASSOCIATES, INC.
 MARSHALL ERDMAN DEVELOPMENT, LLC
 AND
 the persons collectively referred to herein as the
 SELLER REPRESENTATIVE
 Dated as of January 23, 2008




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Table of Contents
 PageARTICLE 1 MERGER AND LIQUIDATION
    
    
    21.1 Merger
    
    
    21.2 Filing of Articles of Merger; Effective Time of the Merger
    
    
    21.3 Charter Documents, Directors and Officers of the Surviving Company
    
    
    21.4 Conversion of Shares and Other Interests
    
    
    21.5 Dissenters Rights
    
    
    41.6 Miscellaneous Merger Terms
    
    
    4ARTICLE 2 ADJUSTMENTS TO MERGER CONSIDERATION; PAYMENT MECHANICS
    
    
    52.1 Total Cash Equity Price Adjustments
    
    
    52.2 Funds Transfers; Exchange of Certificates
    
    
    82.3 Escrow; Limitation on Purchase Price; Reserve Account
    
    
    9ARTICLE 3 CLOSING; CONDITIONS PRECEDENT TO CLOSING
    
    
    113.1 Closing
    
    
    113.2 Conditions Precedent to the Parents and Merger Subs Obligations
    
    
    113.3 Conditions Precedent to the Merging Companies Obligations
    
    
    143.4 Merger Filings
    
    
    15ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF THE MERGING COMPANIES
    
    
    154.1 Authority; Authorization; Enforceability
    
    
    154.2 No Conflict
    
    
    164.3 Governmental Approvals
    
    
    174.4 Voting Agreements
    
    
    174.5 Corporate and Limited Liability Company Matters
    
    
    174.6 Documentation
    
    
    174.7 Capitalization
    
    
    174.8 Subsidiaries
    
    
    184.9 Tangible Personal Property
    
    
    194.10 Leased Real Estate
    
    
    194.11 Owned Real Estate
    
    
    194.12 Proceedings
    
    
    194.13 Intellectual Property
    
    
    194.14 Financial Statements
    
    
    204.15 Taxes
    
    
    214.16 Material Contracts
    
    
    224.17 Employees
    
    
    23
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Page4.18 Labor and Employment Matters
    
    
    234.19 Employee Benefit Plans; ERISA
    
    
    234.20 Events Since Balance Sheet Date
    
    
    244.21 Environmental, Health and Safety Matters
    
    
    244.22 Insurance
    
    
    254.23 Compliance With Legal Requirements; Governmental Authorizations
    
    
    254.24 Brokers; Agents
    
    
    254.25 Affiliate Transactions
    
    
    264.26 Indebtedness
    
    
    26ARTICLE 5 REPRESENTATIONS AND WARRANTIES OF BUYER PARTIES
    
    
    265.1 Authority
    
    
    265.2 No Conflict
    
    
    275.3 Proceedings
    
    
    275.4 Brokers; Agents
    
    
    275.5 Sufficient Funds
    
    
    27ARTICLE 6 PRE-CLOSING COVENANTS
    
    
    286.1 Access to Information
    
    
    286.2 Operation of Business of Company Prior to Closing
    
    
    286.3 HSR Act
    
    
    316.4 Efforts to Consummate
    
    
    316.5 Shareholders Meeting
    
    
    316.6 Execution of Additional Documents
    
    
    326.7 Publicity
    
    
    326.8 Contract Guarantees
    
    
    326.9 Employee Bonuses
    
    
    32ARTICLE 7 DISCLOSURE SCHEDULE; ABSENCE OF OTHER WARRANTIES
    
    
    327.1 General
    
    
    327.2 No Additional Warranties or Representations; Due Diligence
    
    
    33ARTICLE 8 POST-CLOSING COVENANTS
    
    
    338.1 Records and Personnel
    
    
    338.2 Cooperation
    
    
    338.3 Publicity
    
    
    338.4 D&O Indemnification
    
    
    348.5 D&O Liability Insurance
    
    
    34ARTICLE 9 TERMINATION
    
    
    349.1 Grounds for Termination
    
    
    349.2 Effect of Termination
    
    
    35
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PageARTICLE 10 INDEMNIFICATION
    
    
    3510.1 Indemnification by the Merging Companies or the Sellers
    
    
    3510.2 Indemnification by the Buyer Parties and the Surviving Company
    
    
    3610.3 Procedure Relative to Indemnification
    
    
    3610.4 Limits on Indemnification
    
    
    3910.5 Sole Remedy
    
    
    41ARTICLE 11 TAX MATTERS
    
    
    4211.1 Tax Returns
    
    
    4211.2 Certain Taxes
    
    
    4211.3 Tax Treatment of Certain Payments
    
    
    42ARTICLE 12 SELLER REPRESENTATIVE
    
    
    4212.1 Appointment of the Seller Representative
    
    
    4212.2 Other Powers and Duties of the Seller Representative
    
    
    4312.3 Reliance by the Seller Representative
    
    
    4412.4 Expenses of the Seller Representative
    
    
    4412.5 Indemnification
    
    
    4412.6 Survival
    
    
    45ARTICLE 13 DEFINITIONS
    
    
    45ARTICLE 14 MISCELLANEOUS
    
    
    5614.1 Expenses
    
    
    5614.2 Notices
    
    
    5614.3 Entire Agreement
    
    
    5814.4 Confidentiality Agreement
    
    
    5814.5 Construction
    
    
    5814.6 Assignment
    
    
    5814.7 Binding Effect
    
    
    5814.8 Paragraph Headings
    
    
    5814.9 Severability
    
    
    5814.10 Governing Law
    
    
    5814.11 Use of Terms
    
    
    5914.12 Counterparts
    
    
    5914.13 Good Faith; Consents
    
    
    5914.14 No Third Party Beneficiary
    
    
    59
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EXHIBITSExhibit 3.2(e)
    
    Required ConsentsExhibit 3.2(k)(iii)
    
    Form of Escrow AgreementExhibit 3.2(k)(vi)
    
    Form of Termination and Release AgreementExhibit 3.2(k)(vii)
    
    Form of Employment AgreementExhibit 3.2(k)(viii)
    
    Form of Termination AgreementExhibit 3.2(k)(ix)
    
    Contribution AgreementsSCHEDULESSchedule 1.4(e)
    
    Company Options and Restricted StockSchedule 2.1
    
    Policies to be Followed in Preparing the Closing Balance SheetSchedule 3.2(k)(v)
    
    Excluded LiabilitiesSchedule 3.2(k)(vi)
    
    Pledge AgreementsSchedule 3.2(k)(vii)
    
    Employees Party to Employment AgreementsSchedule 3.2(k)(viii)
    
    Shareholder AgreementsSchedule 3.2(k)(ix)
    
    Sellers Party to Contribution AgreementSchedule 4.2
    
    ConflictsSchedule 4.3
    
    Governmental ApprovalsSchedule 4.4
    
    Voting AgreementsSchedule 4.7
    
    CapitalizationSchedule 4.8
    
    Operating CompanySchedule 4.9
    
    Permitted LiensSchedule 4.10
    
    Leased Real EstateSchedule 4.12
    
    ProceedingsSchedule 4.13
    
    Intellectual PropertySchedule 4.14
    
    Financial StatementsSchedule 4.15
    
    TaxesSchedule 4.16
    
    Material ContractsSchedule 4.18
    
    Labor and Employment MattersSchedule 4.19
    
    Benefit PlansSchedule 4.21
    
    Environmental, Health and Safety MattersSchedule 4.22
    
    Insurance
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Schedule 4.23
    
    Compliance with Legal Requirements; Government AuthorizationsSchedule 4.25
    
    Affiliate TransactionsSchedule 6.2
    
    Interim Period OperationsSchedule 6.2(xiii)
    
    Bonuses PayableSchedule 6.9
    
    Senior Executive Bonuses
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AGREEMENT AND PLAN OF MERGER
 Article 13
 RECITALS




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AGREEMENT
  ARTICLE 1
MERGER AND LIQUIDATION
 Merger
 Filing of Articles of Merger; Effective Time of the Merger
 Charter Documents, Directors and Officers of the Surviving Company
 Conversion of Shares and Other Interests
 Section 1.4(f) Section 1.5
 2




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Section B7 of Article IV
  Section 1.4(e)
 Schedule 1.4(e)
   Article 10
 Section 1.4
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Section 2.2(a) Section 1.4(f) Section 1.4(f) Section 2.3 Section 1.4(f) Section 1.4(f)
 Dissenters Rights
 Miscellaneous Merger Terms
 Section 1.4(f)
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ARTICLE 2
ADJUSTMENTS TO MERGER CONSIDERATION; PAYMENT MECHANICS
 Total Cash Equity Price Adjustments
   5




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Schedule 2.1
 Section 2.1(d)
 Section
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2.1 Section 2.1(d) Section 2.1(d) Section 2.1(d)
 Section 2.1(a)(i) Section 2.3(b) Section 2.1(e)
 Section 2.1 Section 2.1(d)
 Section 2.1(e) Section 2.1
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Funds Transfers; Exchange of Certificates
 Funding Section 3.2(k)(v) Section 3.2(k)(vi) Section 1.4(f) Section 2.2(d) Section 1.4(f)
 Merger Share Exchange Procedures Section 1.5 Section 2.3
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Preferred Stock Exchange Procedures
 Escheat Section 2.2
 Escrow; Limitation on Purchase Price; Reserve Account Section 1.4(f)
 Section 1.4
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Section 10.1
 Section 1.4 Section 2.2
 Section 1.4
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Section 1.4(f)
 Article 10 Section 1.4
 ARTICLE 3
CLOSING; CONDITIONS PRECEDENT TO CLOSING
 Closing Article 3
 Conditions Precedent to the Parents and Merger Subs Obligations
  Sections 4.1,
4.7, and 4.8(a) Article 4 Article 4
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Section 3.2
  Sections 3.2(b) Article 10
 Exhibit 3.2(e)
        12




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Exhibit
3.2(k)(iii)
  Schedule 3.2(k)(v) Section
2.2(a)
 Exhibit 3.2(k)(vi) Schedule 3.2(k)(vi)
 Exhibit 3.2(k)(vii) Schedule 3.2(k)(vii)
 Exhibit 3.2(k)(viii) Schedule 3.2(k)(viii)
 Schedule 3.2(k)(ix)
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Conditions Precedent to the Merging Companies Obligations
 Article 5
  Sections 3.3(a) and (b) Article 10
      14




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Article 2
 Exhibit 3.2(k)(vii) Exhibit 3.2(k)(vii)
 Schedule 3.2(k)(ix)
 Merger Filings Article 3 Section
1.2
 ARTICLE 4
REPRESENTATIONS AND WARRANTIES OF THE MERGING COMPANIES
  Authority; Authorization; Enforceability
  15




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Section
1.4(e)
 No Conflict Schedule 4.2
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Section 3.2(f)
 Governmental Approvals Schedule 4.3
 Voting Agreements Schedule 4.4
 Corporate and Limited Liability Company Matters
 Documentation
 Capitalization
 17




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Schedule 4.7 Schedule 4.7 Schedule 4.7
  Subsidiaries
 Schedule 4.8 Schedule 4.8
  18




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Tangible Personal Property Schedule 4.9
 Leased Real Estate Schedule 4.10 Schedule 4.10
    Owned Real Estate
 Proceedings Schedule 4.12
 Intellectual Property.
 Schedule 4.13
 Schedule 4.13 Schedule 4.13
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Schedule 4.13
 Schedule 4.13
 Schedule 4.13 Schedule 4.16
 Financial Statements
 Schedule 4.14 Schedule 4.14 provided however provided further
 20




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Taxes
 Schedule 4.15
     21




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Material Contracts Schedule 4.16 Schedule 4.16
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provided however Section 4.16
 Employees
 Labor and Employment Matters Schedule 4.18
 Employee Benefit Plans; ERISA.
 Schedule 4.19 Schedule 4.19 Schedule 4.19
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Section 4.19 Section 4.17 Section
4.18
 Events Since Balance Sheet Date Section 6.2
 Environmental, Health and Safety Matters Schedule
4.21
    24




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Section 4.21
 Insurance Schedule 4.22 Schedule 4.22
 Compliance With Legal Requirements; Governmental Authorizations Section 4.13 Sections 4.17, 4.18 and 4.19 Section 4.21
 Brokers; Agents
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Affiliate Transactions
 Schedule 4.25
  Indebtedness
  ARTICLE 5
REPRESENTATIONS AND WARRANTIES OF BUYER PARTIES
 Article 10
 Authority
 26




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No Conflict
 Proceedings
 Brokers; Agents
 Sufficient Funds
 27




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ARTICLE 6
PRE-CLOSING COVENANTS
 Access to Information provided however
 Operation of Business of Company Prior to Closing
 Schedule 6.2 Schedule 6.2
   28




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Schedule
6.2(xiii)
   30




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Section 6.2
 HSR Act provided however
 Efforts to Consummate Section 3.2(f)
 Shareholders Meeting
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Execution of Additional Documents
 Publicity Section 8.3 provided however
 Contract Guarantees
 Employee Bonuses Schedule 6.9 Schedule 4.15.
 ARTICLE 7
DISCLOSURE SCHEDULE; ABSENCE OF OTHER WARRANTIES
 General
 32




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No Additional Warranties or Representations; Due Diligence
 ARTICLE 8
POST-CLOSING COVENANTS
 Records and Personnel
 Cooperation
 Publicity provided however
 33




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D&O Indemnification
 D&O Liability Insurance
 ARTICLE 9
TERMINATION
 Grounds for Termination
    Section 3.3(a) Section 3.3(b)
  34




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Section 3.2(b) Section 3.2(c)
  Effect of Termination Article 9
 ARTICLE 10
INDEMNIFICATION
 Indemnification by the Merging Companies or the Sellers.
  Sections 4.12, 4.13(c),
4.15(b), 4.19(d) and 4.23 and the last sentence of Section 4.13(b)
 35




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Schedule 2.1 Section 4.15 Article 10
 Indemnification by the Buyer Parties and the Surviving Company.
    Procedure Relative to Indemnification.
 36




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Article 10
  Section 10.3(b)
 Section 10.3(b)(i)
 37




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Section 10.3(b)(i) Section 10.3(b)(i)
  Article 10 Article 10 Article 10 Article
10
 Section 10.1(b)(iii) Section
4.15
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provided however Section 10.3(e) Section 10.2(c)
 Section 10.3 Article 12
  Limits on Indemnification.
 Section
10.1(b)(i)
  Section 10.1(b)(i) Section 2.3 provided however
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Article 10
 Article 10
 provided however Section 10.1(b)(iii) Sections 4.1 (Authority; Authorization; Enforceability), 4.7
(Capitalization), 4.15 (Taxes), and 4.24 (Brokers; Agents) and Article 11 (Tax Matters)
 Section 10.4(e)
 Article 10
 40




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Section 10.4(f)
 Article 4 Article 10
 Section 10.4(h) Section 10.4(h) Article 13
  Sole Remedy Article 10
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ARTICLE 11
TAX MATTERS
 Tax Returns Schedule 2.1
 Certain Taxes
 Tax Treatment of Certain Payments Article 10
 ARTICLE 12
SELLER REPRESENTATIVE
 Appointment of the Seller Representative
 42




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Section 12.4
   Other Powers and Duties of the Seller Representative Section 12.1 or 12.2
 43




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Reliance by the Seller Representative
 Expenses of the Seller Representative
 Indemnification provided however Section 12.5
 44




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Survival Article 12
 ARTICLE 13
DEFINITIONS
       Section 2.1(d)
 Section 1.2
 Section 10.4(a)
 Section 4.19(a)
    45




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Section 3.3(a)
  Section 2.2(b)
 Section 10.3(a)
 Section 10.3(a)
 Section 10.3(a)
  Section 2.1(b)
  Section 2.1
 Section 2.1(b)
     Section 3.2(k)(ix)
  Section 6.8
 Schedule 2.1
  46




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Schedule 4.15 Schedule 2.1
 Section 1.5
   Section 1.2
 Section 3.2(k)(vii)
   Section 4.19(a)
   Section 2.1(b)
  Section 2.1
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Section 2.1(a)
 Section 2.2(a)
 Section 2.2(a)
 Section 3.2(k)(v)
 Section 2.1(c)
 Section 4.14(a)
 Section 2.3(a)
    48




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Section 2.2(c)
    Section 10.3(a)
  49




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Section 4.22
 Section 4.14(a)
      Section 1.4(b)
 Section 4.13(a)
 Section 10.4(h)
 Section 3.2(k)(vi)
 excluding however
 50




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51




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Section 1.4(a)
   Section 4.14
  Section 4.19(a)
 Section 4.7(a)
 Section 2.1(c)
  Section 1.4(e)(i)
  Section 9.1(b)
  Section 3.2(k)(v)
  Schedule 4.9
   52




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Section 11.2
  Section 1.4(b)
     Exhibit 3.2(e)
  53




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Section 2.3(e)
 Section 2.3(e)
 Section 1.4(e)(ii)
   Articles 3, 4 and 7
 Section 2.3(a)
 Section 12.1
 Section 1.6(a)
 Section 6.9
 Schedule 3.2(k)(viii)
 Section 4.1(c)
 Section 4.1(c)
  Section 2.1(a)
 Section 10.4(d)
  54




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Section 1.1
   Section 10.3(e)
 e.g.
 Section 10.3(a)
 Section 2.1
   Section 4.26
 Section 4.7(a)
 55




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Schedule 2.1 Schedule 2.1
   ARTICLE 14
MISCELLANEOUS
 Expenses
 Notices
  
 56




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57




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Entire Agreement
 Confidentiality Agreement
 Construction
 Assignment
 Binding Effect
 Paragraph Headings
 Severability
 Governing Law
 58




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Use of Terms
 Counterparts
 Good Faith; Consents
 No Third Party Beneficiary
 59




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COGDELL SPENCER INC.By:Name:
    
    Frank C. SpencerTitle:
    
    President and CEOPARENT:COGDELL SPENCER LPBy: CS Business Trust I, its General PartnerBy: Cogdell Spencer Inc.,its Sole Beneficial OwnerBy:Name:
    
    Frank C. SpencerTitle:
    
    President and CEOMERGER SUB:GOLDENBOY ACQUISITION CORP.By: Cogdell Spencer LP, its Sole Beneficial OwnerBy: CS Business Trust I, its General PartnerBy: Cogdell Spencer Inc.,its Sole Beneficial Owner
 By:Name:
    
    Frank C. SpencerTitle:
    
    President and CEOTHE HOLDING COMPANY:MEA HOLDINGS, INC.By:Name:Title:




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MEA:MARSHALL ERDMAN & ASSOCIATES, INC.By:Name:Title:MED:MARSHALL ERDMAN DEVELOPMENT, LLCBy:Name:Title:SELLER REPRESENTATIVES:
 David PelisekDavid LubarScott Ransom