##### 



EXECUTION
COPY
 
 AGREEMENT AND PLAN OF MERGER
 Dated as of August 28, 2005,
 by and among
 DPC NEWCO INC.,
 DOANE PET CARE ENTERPRISES, INC.,
 and
 DOANE PET CARE COMPANY




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TABLE OF CONTENTS
 PageINDEX OF DEFINED TERMS
    
    
    vARTICLE I THE MERGER
    
    
    2Section 1.1 The Merger
    
    
    2Section 1.2 Closing
    
    
    2Section 1.3 Effective Time
    
    
    2Section 1.4 Effects
    
    
    2Section 1.5 Certificate of Incorporation and By-laws
    
    
    2Section 1.6 Directors
    
    
    3Section 1.7 Officers
    
    
    3ARTICLE II EFFECT ON THE CAPITAL STOCK OF THE CONSTITUENT CORPORATIONS; EXCHANGE OF CERTIFICATES
    
    
    3Section 2.1 Initial Merger Consideration
    
    
    3Section 2.2 Effect on Capital Stock of Newco
    
    
    8Section 2.3 Effect on Company Securities
    
    
    8Section 2.4 Appraisal Rights
    
    
    13Section 2.5 Exchange of Stock Certificates
    
    
    14Section 2.6 Determination of Initial Merger Consideration
    
    
    17Section 2.7 Adjustment of Initial Merger Consideration
    
    
    18Section 2.8 Stockholder Representative; Reserve Account
    
    
    21ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND DPC
    
    
    22Section 3.1 Organization, Standing and Power
    
    
    22Section 3.2 Company Subsidiaries; Equity Interests; Minute Books
    
    
    22Section 3.3 Capital Structure
    
    
    23Section 3.4 Authority; Execution and Delivery, Enforceability
    
    
    25Section 3.5 No Conflicts; Consents
    
    
    25Section 3.6 SEC Documents; Financial Statements; Absence of Undisclosed Liabilities, etc.
    
    
    26Section 3.7 Absence of Certain Changes or Events
    
    
    28Section 3.8 Taxes
    
    
    29Section 3.9 Absence of Changes in Benefit Plans
    
    
    32
 i




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TABLE OF CONTENTS
 PageSection 3.10 ERISA Compliance; Excess Parachute Payments
    
    
    32Section 3.11 Litigation
    
    
    35Section 3.12 Compliance with Applicable Laws
    
    
    35Section 3.13 Environmental Matters
    
    
    36Section 3.14 Contracts
    
    
    37Section 3.15 Title to Properties
    
    
    39Section 3.16 Intellectual Property
    
    
    40Section 3.17 Labor Matters
    
    
    41Section 3.18 Brokers
    
    
    41Section 3.19 Insurance
    
    
    42Section 3.20 Related Party Transactions
    
    
    42Section 3.21 Customers and Suppliers
    
    
    43Section 3.22 Personal Property
    
    
    43Section 3.23 Product Recalls
    
    
    43ARTICLE IV REPRESENTATIONS AND WARRANTIES OF NEWCO
    
    
    44Section 4.1 Organization, Standing and Power
    
    
    44Section 4.2 Newco
    
    
    44Section 4.3 Authority; Execution and Delivery; Enforceability
    
    
    44Section 4.4 No Conflicts; Consents
    
    
    45Section 4.5 No Litigation
    
    
    46Section 4.6 Financing
    
    
    46Section 4.7 Brokers
    
    
    46Section 4.8 Disclaimer Regarding Projections; No Additional
Representations; No Reliance
    
    
    46ARTICLE V COVENANTS; ADDITIONAL AGREEMENTS
    
    
    47Section 5.1 Conduct of Business
    
    
    47Section 5.2 No Solicitation
    
    
    50Section 5.3 Access to Information
    
    
    50Section 5.4 Consents
    
    
    51Section 5.5 Benefit Plans
    
    
    51




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TABLE OF CONTENTS
 PageSection 5.6 Indemnification
    
    
    52Section 5.7 Fees and Expenses
    
    
    54Section 5.8 Filings with Governmental Entities
    
    
    54Section 5.9 Public Announcement
    
    
    55Section 5.10 Transfer Taxes
    
    
    55Section 5.11 Confidentiality Agreement
    
    
    55Section 5.12 Notice of Breach
    
    
    56Section 5.13 Financing
    
    
    56Section 5.14 DPC Preferred Stock Redemption
    
    
    58Section 5.15 Further Assurances
    
    
    58Section 5.16 Consents
    
    
    59ARTICLE VI CONDITIONS PRECEDENT
    
    
    59Section 6.1 Conditions to Each Partys Obligation to Effect the Transactions
    
    
    59Section 6.2 Conditions to Obligations of Newco
    
    
    60Section 6.3 Conditions to Obligations of the Company
    
    
    61ARTICLE VII TERMINATION, AMENDMENT AND WAIVER
    
    
    62Section 7.1 Termination
    
    
    62Section 7.2 Effect of Termination
    
    
    63Section 7.3 Amendment
    
    
    63Section 7.4 Extension; Waiver
    
    
    63ARTICLE VIII INDEMNIFICATION
    
    
    64Section 8.1 Survival of Representations and Warranties
    
    
    64Section 8.2 Indemnification
    
    
    64Section 8.3 Release of Escrow Amount
    
    
    65Section 8.4 Conduct of Proceedings
    
    
    68Section 8.5 Limitations on Indemnity
    
    
    70Section 8.6 Termination of Indemnification
    
    
    72Section 8.7 Tax Matters
    
    
    73ARTICLE IX GENERAL PROVISIONS
    
    
    74




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TABLE OF CONTENTS
 PageSection 9.1 Notices
    
    
    74Section 9.2 Definitions
    
    
    76Section 9.3 Interpretation; Disclosure Schedules
    
    
    81Section 9.4 Severability
    
    
    83Section 9.5 Counterparts
    
    
    83Section 9.6 Entire Agreement; No Third-Party Beneficiaries
    
    
    83Section 9.7 Governing Law
    
    
    83Section 9.8 Assignment
    
    
    83Section 9.9 Enforcement; Jurisdiction; Waiver of Jury Trial
    
    
    84




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Defined Term
    
    Section2007 Notes
    
    2.1(a)(6)(ii)2010 Notes
    
    2.1(a)(6)(iii)Accounting Standards
    
    2.6(a)Additional Company Securities Amount
    
    2.1(f)Adjustment Amount
    
    2.7(c)affiliate
    
    9.2Agreement
    
    captionApplicable Rate
    
    2.7(c)Appraisal Shares
    
    2.4Audited Company Financial Statements
    
    3.6(c)Auditor
    
    2.7(b)Bonds
    
    2.1(a)(6)(v)Business Day
    
    9.2Cash Equivalents
    
    9.2Certificate of Designations
    
    2.1(d)Certificate of Merger
    
    1.3Class A Common Stock
    
    2.1(a)Class B Common Stock
    
    2.1(a)Clinton Bonds
    
    2.1(a)(6)(v)Closing
    
    1.2Closing Balance Sheet
    
    2.7(a)Closing Date
    
    1.2Closing Date Working Capital
    
    2.7(a)Closing Indebtedness
    
    2.1(a)(6)Code
    
    3.10(b)Commitment Papers
    
    4.6Company
    
    captionCompany Benefit Agreements
    
    3.9Company Benefit Plans
    
    3.9Company Board
    
    recitalsCompany By-laws
    
    3.1Company Charter
    
    3.1Company Common Stock
    
    2.1(a)Company Common Stock Conversion Amount
    
    2.3(g)(1)Company Common Stock Surrender Forms
    
    2.3(g)(2)Company Disclosure Schedule
    
    Article III
 v




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Company Employees
    
    5.5(a)Company Financial Statements
    
    3.16(c)Company Material Adverse Effect
    
    8.3Company Multiemployer Plan
    
    3.10(a)Company Options
    
    2.3(g)(3)Company Option Surrender Forms
    
    2.3(g)(4)Company Pension Plans
    
    3.10(b)Company Preferred Stock
    
    3.3Company Securities
    
    2.1(c)Company Stock Option Plans
    
    2.3(g)(5)Company Subsidiaries
    
    2.1(a)(2)Company Transaction Expenses
    
    8.3Company Transaction Expense Schedule
    
    2.6(c)Company Warrants
    
    2.3(g)(6)Company Warrant Surrender Forms
    
    2.3(g)(7)Confidentiality Agreement
    
    5.11Consent
    
    3.5(b)Contract
    
    3.5(a)Covered Persons
    
    5.6(a)Damages
    
    8.2(a)Debt Financing Facility
    
    4.6Determination Date
    
    2.7(b)D&O Insurance
    
    5.6(a)DGCL
    
    1.1DOJ
    
    5.8(a)DPC
    
    captionDPC Preferred Stock
    
    2.1(a)(6)(vi)DPC Preferred Stock Redemption Amount
    
    2.1(a)(6)(vi)Effective Time
    
    1.3Environmental Laws
    
    3.13Equity Commitment Letter
    
    4.6Equity Financing Facility
    
    4.6ERISA
    
    3.10(a)Escrow Account
    
    8.3(b)Escrow Agent
    
    2.1(b)(3)Escrow Agreement
    
    2.1(b)(3)Escrow Amount
    
    2.1(b)(3)Estimated Closing Balance Sheet
    
    2.6(a)Estimated Closing Working Capital
    
    2.6(a)Exchange Act
    
    3.5(b)Executed Commitment Papers
    
    5.13(a)Existing Credit Agreement
    
    2.1(a)(6)(i)FIH Loan Agreement
    
    2.1(a)(6)(vii)




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Filed DPC SEC Documents
    
    8.3FTC
    
    5.8(a)Fully Diluted Share Number
    
    2.3(g)(8)GAAP
    
    3.6(b)Governmental Entity
    
    3.5(b)Hazardous Substance
    
    3.13HSR Act
    
    3.5(b)Improvements
    
    3.15(c)Indebtedness and Cash Schedule
    
    2.6(b)Indemnified Party
    
    5.6(c)Indemnitee
    
    8.3(d)Indemnitor
    
    8.3(d)Indemnity Escrow Amount
    
    2.1(b)(3)Initial Company Securities Amount
    
    2.1(a)Initial Merger Consideration
    
    2.1(b)(2)Intellectual Property Rights
    
    3.16Investors Agreement
    
    recitalsIRS
    
    3.10(a)Judgment
    
    3.5(a)Knowledge of Newco
    
    9.2Knowledge of the Company
    
    9.2Law
    
    3.5(a)Leased Real Property
    
    3.15(b)Letter of Transmittal
    
    2.3(b)Letters of Credit
    
    2.1(a)(6)(i)Liens
    
    3.2(a)Losses
    
    5.6(c)Material Contracts
    
    3.14(b)Maximum Amount
    
    5.6(a)Merger
    
    recitalsMiami Bonds
    
    2.1(a)(6)(iv)Moodys
    
    2.5(b)(ii)Net Working Capital
    
    9.2Net Working Capital Target
    
    2.1(a)(3)Newco
    
    captionNewco Indemnitees
    
    8.2(a)Newco Material Adverse Effect
    
    9.2Notes
    
    2.1(a)(6)(iii)Optionholder
    
    2.3(c)Outside Date
    
    7.1(b)Owned Real Property
    
    3.15(a)Paying Agent
    
    2.5(a)Paying Agent Agreement
    
    2.5(a)




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Permitted Investments
    
    2.5(b)(ii)Permitted Liens
    
    9.2person
    
    9.2Preferred Stock Redemption
    
    5.14(a)Proceeding
    
    3.11Projections
    
    4.8pro-rata portion
    
    9.2Real Property
    
    3.15(c)Real Property Leases
    
    3.15(b)Recall
    
    3.23Representatives
    
    4.8Requisite Stockholders
    
    recitalsReserve Account
    
    2.1(b)(4)Reserve Amount
    
    2.1(b)(4)Rollover Adjustment Amount
    
    2.3(g)(9)Rollover Amount
    
    2.3(g)(10)Rollover Diluted Share Number
    
    2.3(g)(11)Rollover Indemnity Escrow Amount
    
    2.3(g)(12)Rollover Options
    
    2.3(g)(13)Rollover Percentage
    
    2.3(g)(14)Rollover Reserve Amount
    
    2.3(g)(15)Rollover Securities Amount
    
    2.3(g)16)Rollover Share Conversion Amount
    
    2.3(g)(17)Rollover Shares
    
    2.3(g)(18)Rollover Working Capital Adjustment Amount
    
    2.3(g)(19)S&P
    
    2.5(b)(ii)SEC
    
    3.6(a)Section 262
    
    2.4Securities Act
    
    3.6(b)Securities Payment Schedule
    
    2.3(e)Seller Indemnitees
    
    8.2(b)Specified Damages
    
    8.3(c)Stock Certificates
    
    2.3(f)Stockholder Consent
    
    recitalsStockholder Representative
    
    2.8(a)subsidiary
    
    9.2Surrender Forms
    
    2.3(g)(20)Survival Period
    
    8.1Surviving Corporation
    
    1.1Tax Accountant
    
    8.6(a)Taxes
    
    3.8(m)Tax Return
    
    3.8(m)Terminating Company Breach
    
    7.1(c)




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Terminating Newco Breach
    
    7.1(d)Third Party Proceeding
    
    8.4Threshold Amount
    
    8.3(d)Total Consideration
    
    2.1(a)(1)Transaction Agreements
    
    recitalsTransaction Bonuses
    
    5.1(e)Transactions
    
    1.1Transfer Taxes
    
    5.10Unaudited Company Financial Statements
    
    3.6(c)Unclaimed Amounts
    
    2.5(d)Voting Company Debt
    
    3.3Warrantholder
    
    2.3(d)Working Capital Adjustment Escrow Amount
    
    2.1(b)(3)
 ix




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AGREEMENT AND PLAN OF MERGER
 Agreement Newco Company DPC
 Recitals
 Company Board Merger
 Investors
Agreement Requisite Stockholders
 Stockholder Consent Transaction Agreements




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The Merger DGCL Surviving Corporation Transactions
 Closing Closing Section 6.1 Section 6.2 Section 6.3 Article VI Closing Date
 Effective Time Exhibit A Certificate of Merger Effective Time
 Effects
 Certificate of Incorporation and By-laws
 2




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Directors
 Officers
    Initial Merger Consideration
 Initial Company Securities Amount Class A Common Stock Class B Common Stock Company Common Stock Section 2.3(a)
 Total Consideration plus
 3




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Company Subsidiaries plus
 Net Working Capital Target minus
 minus
 minus
 Closing
Indebtedness
 Letters of Credit Existing Credit
Agreement plus
 2007 Notes plus
 2010 Notes Notes plus
 4




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Miami Bonds Section 5.16 plus
 Clinton Bonds Bonds Section 5.16 plus
 DPC Preferred
Stock DPC Preferred Stock Redemption Amount plus
 FIH Loan Agreement Section 5.16 minus
 minus
 5




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minus
 minus
   Sections
2.3(b) (c) (d) Section 2.5
 Section
5.14 Initial Merger Consideration
 Escrow Agent i minus Working Capital Adjustment Escrow Amount ii minus Indemnity Escrow Amount Escrow Amount Section 8.3 Escrow Agreement
 Reserve Account minus Reserve Amount Section 2.8(b)
 6




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Rollover Account Section 2.1(f) Section 2.7(c) Section 2.8(b)
 Company Securities Section 2.3 Section 2.5 provided provided further
 Section 5.14 Certificate of Designations provided however
  Additional Company Securities Amount
 7




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Additional Rollover Securities Amount
 Effect on Capital Stock of Newco.
 Effect on Company Securities.
 Cancellation of Treasury Stock Section 2.3(b) i ii
 Company Common Stock Section 2.3(a) i
 8




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plus ii provided however Letter of Transmittal provided further however
 Company Options Optionholder Section 2.3(c) plus i x y Section 2.3(c) ii provided however provided further however Section 2.3(c)
 Company Warrants Warrantholder i x
 9




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y Section 2.3(d) ii provided however provided further however Section 2.3(d)
 Securities Payment Schedule Securities Payment
Schedule Section 2.1(d) Sections 2.3(b)-(d)
 No Further Rights Section 2.3 Stock Certificates Section 2.3
 Definitions
 Company Common Stock Conversion Amount
 10




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Section 2.3(a) i A B ii
 Company Common Stock Surrender Forms
 Company Options
 Company Option Surrender Forms
 Company Stock Option Plans
 Company Warrants i ii
 Company Warrant Surrender Forms
 11




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Fully Diluted Share Number i Section 2.3(a) ii
 Rollover Adjustment Amount
 Rollover Amount i A B ii A 1 2 B
 Rollover Diluted Share Number Section 2.3(a)(i)
 Rollover Indemnity Escrow Amount
 Rollover Option Section
2.3(a)
 12




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Rollover Percentage
 Rollover Reserve Amount
 Rollover Securities Amount
 Rollover Share Conversion Amount i A B ii
 Rollover Shares Section 2.3(a)
 Rollover Working Capital Adjustment Amount
 Surrender Forms
 Appraisal Rights Appraisal Shares
 13




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Section 262 Section 2.3(b) provided however Section 2.3(b)
 Exchange of Stock Certificates
 Paying Agent Paying Agent Paying
Agent Agreement Sections 2.3(b)-(d) A B Section 2.1(e)
 Paying Agent; Initial Merger Consideration
 Section 6.1 Section 6.2
 14




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Section 2.1(a)
 Moodys S&P Permitted Investments Section 2.1(d) Sections
2.3(b)-(d) Section 2.1(d) Sections 2.3(b)-(d)
 Exchange Procedures for Company Common Stock
 Section 2.3(a) A
 15




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B Section 2.3(b) C
  A B Section 2.3(b)
 Duties and Responsibilities of Paying Agent
 16




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Unclaimed Amounts provided provided further Section 2.5(b)(i) Section 2.7 Article VIII
 Exchange Procedures for Company Options and Company Warrants
 A B Section 2.3(d) Section 2.3(e)
 Section 2.3(d) Section 2.3(e)
 Determination of Initial Merger Consideration
 Estimated
 17




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Closing Balance Sheet Estimated Closing Working Capital Section 2.6 Accounting Standards
 Indebtedness and Cash Schedule i ii
 Company Transaction Expense
Schedule
  Adjustment of Initial Merger Consideration
 i Closing Balance Sheet ii Closing Date Working Capital
 18




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Section 2.7(a) Auditor Section 2.7
 19




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Section 2.7(b) Determination Date
 Adjustment Amount i Section 2.7(b) ii provided however Applicable
Rate i ii
 Section 2.7 Section 2.7
 20




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Stockholder Representative; Reserve Account
   21




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Section 2.8(b)
   Company Disclosure
Schedule
 Organization, Standing and Power. Company
Charter Company By-laws
 Company Subsidiaries; Equity Interests; Minute Books
 Section 3.2(a)
 22




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Section 3.2(a) Liens
 Section 3.2(b)
  Capital Structure i ii iii Company Preferred Stock A B C D Section 3.3 Section 3.3
 23




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Voting Company
Debt Section 3.3 y z Section 3.3 Section 3.3 Section 3.3 Section 3.3
 24




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Authority; Execution and Delivery, Enforceability
 No Conflicts; Consents
 Section 3.5(a) i ii Contract iii Section 3.5(b) Judgment Law iv
 25




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Section 3.5(b) Consent Governmental Entity i HSR Act ii Exchange Act iii iv v
 SEC Documents; Financial Statements; Absence of Undisclosed Liabilities,
etc
 SEC
 Section 3.6(b) Securities Act
 26




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Section 3.6(b) GAAP
 Section 3.6(c) i Audited Company Financial Statements ii Unaudited Company Financial Statements Company Financial
Statements Section 3.6(c)
 Section 3.6(d) Section 3.6(b)
 27




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Absence of Certain Changes or Events. Section 3.7
    A B C
  28




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Taxes
 Section
3.6(b)
 Section 3.8(b)
 29




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Section 3.8(d) A B A B
 Section 3.8(e)
 Section 3.8(f) A B
  30




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i ii
    31




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Taxes
 Tax Return
 Section
3.8 Sections 3.6(b) c d Section 3.7 Section
3.10
 Absence of Changes in Benefit Plans. Section 3.9 Company Benefit Plans Section 3.9 Company Benefit Agreements
 ERISA Compliance; Excess Parachute Payments
 Section 3.10(a) ERISA Company Multiemployer Plan
 32




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i ii iii IRS iv v vi vii viii ix
 Section 3.10(b) Company Pension Plans Code
 Section 3.10(c)
 33




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Section 3.10(d) i ii iii
 Section 3.10(e)
 34




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i ii iii iv
 Litigation Section 3.11 Proceeding a b Section 3.11
 Compliance with Applicable Laws Section 3.12 a b Section 3.12 Section 3.12
 35




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Section 3.8 Section 3.13
 Environmental Matters Section 3.13 i ii iii A B iv Hazardous Substance
 36




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Environmental Laws Section 3.5 Section
3.6(d) Section 3.13
 Contracts
 Section
3.14(a)
   Section 3.15 Section 3.22
  37




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Section 3.21
   Section 3.14(b) Material Contracts
 38




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Title to Properties
 Section 3.15(a) Owned
Real Property
 Section 3.15(a) Section 3.15(a)
 Section 3.15(a)
   Section 3.15
 39




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Section 3.15(b) Leased Real
Property Real Property Leases Section 3.15(b)
 Real
Property Improvements
 Intellectual Property Section 3.16 Intellectual Property Rights
 40




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Section 3.16 Section 3.16 i ii
 Labor Matters Section 3.17 Section 3.17 i ii iii
 Brokers
 41




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Insurance
 Section 3.19(a)
 Section 3.19(a) i ii iii iv Section
3.19(b)
 Related Party Transactions Section 3.20 i A B ii
 42




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##### 



iii
 Customers and Suppliers Section 3.21 Section 3.21
 Personal Property Section 3.22 a b
 Product Recalls Section 3.23 Recall provided however provided further however Section 3.23 Section 3.23
 43




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Organization, Standing and Power
 Newco
 Authority; Execution and Delivery; Enforceability
 44




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No Conflicts; Consents
 i ii iii Section 4.4(b)
 i ii iii Section 5.10 iv
 45




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No Litigation
 Financing Commitment
Papers Debt Financing Facility Equity Commitment Letter Equity Financing Facility
 Brokers
 Disclaimer Regarding Projections; No Additional Representations; No
Reliance Projections
 46




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##### 



Representatives Article III provided Article III Article
III
   Conduct of Business Section 5.1 Section 5.1
 47




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i A B ii iii
 i ii iii iv A B
  i ii A B C
 i
 48




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ii Transaction Bonuses Section 5.1 Section 5.1 iii iv
   i ii A Section 2.1(a)(6) B
 i ii
 49




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No Solicitation i A B C ii Section 5.2
 Access to Information i
 50




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##### 



ii provided however Section 5.3
 Consents Section 6.2(d) i ii iii provided however Section 5.4
 Benefit Plans
 Company Employees ii
 51




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provided however
   Indemnification
 Covered Persons
 52




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Section 5.7 D&O Insurance
  Indemnified Party Losses
 53




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Fees and Expenses i Sections 2.1(a) (e) ii i ii Section 5.6(a)
 Filings with Governmental Entities
 FTC DOJ
 54




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Public Announcement Section 5.3(b) (c)
 Transfer Taxes Transfer Taxes
 Confidentiality Agreement Confidentiality Agreement
 55




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Notice of Breach
 i ii iii Section 6.1 Section 6.2 provided however Section 9.3(e)
 i ii iii Section
6.1 6.2 provided however
 Financing
 Executed Commitment Papers
 56




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Article VI
 i ii iii Section 5.13(b)
 57




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##### 



DPC Preferred Stock Redemption
 Preferred Stock Redemption i ii iii
 Section 2.1(d) Section 5.14(a) provided however provided further however
 Further Assurances Section 5.15
 58




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Section 5.15 Section 5.13
 Consents Section 5.16
   Conditions to Each Partys Obligation to Effect the Transactions
 Governmental Approvals
 No Injunctions or Restraints
 Escrow Agreement; Paying Agent Agreement
 59




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Conditions to Obligations of Newco
 Representations and Warranties
 Performance of Obligations of the Company
 No Litigation
 Termination of Certain Agreements; Consents Section 6.2(d) Section 6.2(d)
 Repayment of Debt i ii
 60




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##### 



iii
 Financing Section 4.6
 Company Material Adverse Effect
 Non-Solicitation Agreement Section 6.2(h)
 FIRPTA Certificate
 Conditions to Obligations of the Company
 Representations and Warranties
 61




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##### 



Performance of Obligations of Newco
 Initial Merger Consideration and Other Amounts Section 2.5(b)(i) Section 2.1(b)(3) Section 2.1(b)(4)
   Termination
  Outside Date provided however
 Article III Section 6.1 6.2 Terminating Company Breach provided however
 62




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##### 



Section 7.1(c)
 Article
IV Section
6.1 6.3 Terminating
Newco Breach provided however Section 7.1(d)
  Effect of Termination Section 7.1 provided however i Article
VII provided however Section 7.1(b Section 7.1(c) Section 7.1(b) Section 7.1(d) A B ii Sections 5.6 5.7 5.9 5.11 Section 7.2
 63




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##### 



Article IX
 Amendment
 Extension; Waiver a b c
   Survival of Representations and Warranties Article VIII Survival
Period
 Indemnification
 Article VIII Newco Indemnitees Damages i
 64




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##### 



ii iii
 Seller Indemnitees i ii iii
 Release of Escrow Amount
 Article VIII i Article VIII ii Article VIII i Article
VIII ii Article VIII
 65




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##### 



Article VIII
 Escrow Account
 Section 2.7(c) A B Section 2.7(c)
 A minus B Article VIII
 A minus B Article VIII
 66




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##### 



Rollover Account
 Section 2.7(c) A B Section 2.7
 A minus B Article VIII
 A minus B Article VIII
 67




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##### 



Article VIII i Article VIII Indemnitee Article VIII Indemnitor Section 8.4 ii Section 8.2(a)(i) Section 8.2(b)(i) Threshold Amount iii provided however Section 3.3 Section 3.8 Article VIII
 Conduct of Proceedings
 provided however
 68




---



##### 



Third Party Proceeding provided however Section 8.4(b) Section 8.4(b) Section 8.4
 69




---



##### 



i ii provided however provided however provided however Section 8.4(b)
 Limitations on Indemnity
  70




---



##### 



Article
VIII Article VIII Section 8.5(a)
 Article
VIII Section 3.6(b)
 Section 7.2 Article VIII Section 7.2 Article VIII Section 7.2
 Article
VIII
  71




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##### 



provided however
  Article VIII
 Article VIII Section 2.7 Section
2.7 Article VIII provided however
 Article VIII Article VIII Article VIII
 Termination of Indemnification Article VIII i
 72




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##### 



Section 8.2(a)(i) ii Section 8.2(a)(ii) provided however Article VIII Article VIII i A x y z B ii
 Tax Matters
 Tax Returns Tax
Accountant
 Tax Contests
 73




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##### 



Section 8.2(a) provided Section 8.7(b)
 Books and Records; Cooperation i ii
 Overlap Article VIII Section 8.7 Section 8.7
   Notices
 74




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##### 



75




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##### 



Definitions
 affiliate
 Business Day
 Cash Equivalents i A B
 76




---



##### 



ii iii iv A B v vi A B C
 Company Material Adverse Effect i ii provided however a b c d e f g
 Company Transaction Expenses i
 77




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##### 



ii iii iv Section 3.3
 Filed DPC SEC Documents
 Indebtedness Sections
2.1(a)(6)(iii) iv v vii Section
5.16
 78




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##### 



Sections 2.1(a)(6)(iv) v vii Section 5.16 Section 2.1(a)(6) Section
2.1(a)(6)
 Knowledge of the Company Section 9.2(a)
 Knowledge of Newco Section 9.2(b)
 Net Working Capital Section 2.6
 Newco Material Adverse Effect i ii
 Permitted Liens i ii iii iv Section
9.2(c) v
 79




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##### 



vi Section 9.2(d) vii Section 3.6 vii viii ix x
 person
 pro-rata portion
 Stockholder Representative
 subsidiary provided however
 80




---



##### 



Interpretation; Disclosure Schedules
 i ii iii iv v vi
     81




---



##### 



provided however i Section 5.1 ii Section 9.3(e) Section
6.2(a) Section 7.1(c) Section 7.4 Section 6.2(a) Article
VIII
 82




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##### 



Severability
 Counterparts
 Entire Agreement; No Third-Party Beneficiaries a b Section 5.6 Article VIII
 Governing Law Sections 1.1 1.3 1.4 1.5 1.6 1.7 2.4
 Assignment
 83




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##### 



Enforcement; Jurisdiction; Waiver of Jury Trial
 i ii
 a b a b c Section 9.1 Section 9.9
 A B
 84




---



##### 



SECTION
9.9
 85




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##### 



DPC NEWCO INC.By:

/s/
Glen SilvestriName:
    Glen SilvestriTitle:
    Vice President DOANE PET CARE ENTERPRISES, INC.By:

/s/
Douglas J. CahillName:
    Douglas J. CahillTitle:
    President & Chief Executive Officer DOANE PET CARE COMPANYBy:

/s/
Douglas J. CahillName:
    Douglas J. CahillTitle:
    President & Chief Executive Officer 86