Document:

Unassociated Document

    

    AGREEMENT
      AND PLAN OF MERGER

    

    Among

    

    FORTRESS
      AMERICA ACQUISITION CORPORATION

    

    And

    

    FAAC
      MERGER CORPORATION

    

    June
      29, 2005

    

    
      
         

      

      
         

        
          

        

      

      
         

        
        

      

    

    AGREEMENT
      AND PLAN OF MERGER

    

    AGREEMENT
      AND PLAN OF MERGER (this “Agreement”), dated as of June 29, 2005, among Fortress
      America Acquisition Corporation, a Delaware corporation (“Company”), and FAAC
      Merger Corporation, a Delaware corporation and a wholly owned subsidiary of
      Fortress (“Subsidiary”).

    

    RECITALS

    

    WHEREAS,
      the respective boards of directors of each of the Company and the Subsidiary
      have approved the merger of Subsidiary with and into the Company with the
      Company as the surviving entity (the “Merger”) and approved the Merger upon the
      terms and conditions set forth in this Agreement; and

    

    WHEREAS,
      the respective stockholders of each of the Company and the Subsidiary have
      approved the Merger;

    

    NOW,
      THEREFORE, in consideration of the premises and agreements contained herein,
      the
      parties hereto agree as follows:

    

    ARTICLE
      I

    

    1.1 The
      Merger.
      Upon
      the terms and subject to the conditions set forth in this Agreement, at the
      Effective Time (as hereinafter defined), Subsidiary shall merge with and into
      Company and the separate corporate existence of Subsidiary shall thereupon
      cease. The Company shall be the surviving corporation in the Merger (sometimes
      hereinafter referred to as the “Surviving Corporation”), and the separate
      corporate existence of the Company with all its rights, privileges, immunities,
      powers and franchises shall continue unaffected by the Merger, except as set
      forth in Article II. The Merger shall have the effects specified in the Delaware
      General Corporation Law, as amended (the “DGCL”).

    

    1.2 Effective
      Time.
      The
      Company will cause a Certificate of Merger to be executed and delivered to
      the
      Secretary of State of the State of Delaware as provided in Section 251 of the
      DGCL. The Merger shall become effective at the time when the Certificate of
      Merger has been duly filed with the Secretary of State of the State of Delaware
      or at such later time as may be agreed upon by the parties and specified in
      the
      Certificate of Merger (the “Effective Time”).

    

    ARTICLE
      II

    

    2.1 The
      Certificate of Incorporation.
      At the
      Effective Time, the certificate of incorporation of the Company as in effect
      immediately prior to the Effective Time shall be amended and restated in its
      entirety to be identical to the certificate of incorporation of the Subsidiary
      (the “Charter”), until thereafter amended as provided therein or by applicable
      law; provided,
      however,
      that
      Article First of the certificate of incorporation of the Surviving Corporation
      shall read as follows: “Name.
      The
      name of this corporation is Fortress America Acquisition Corporation (the
“Corporation”).”

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    2.2 The
      Bylaws.
      At the
      Effective Time, the bylaws of the Company as in effect at the Effective Time
      shall be the bylaws of the Surviving Corporation.

    

    ARTICLE
      III

    

    3.1
       Directors.
      The
      directors of the Company at the Effective time shall, from and after the
      Effective Time, be the directors of the Surviving Corporation until their
      successors have been duly elected and appointed and qualified or until their
      earlier death, resignation or removal in accordance with the Charter and the
      bylaws and the Board of Directors of the Company shall take all such actions
      as
      may be necessary or appropriate to give effect to the foregoing.

    

    3.2 Officers.
      The
      officers of the Company at the Effective time shall, from and after the
      Effective Time, be the officers of the Surviving Corporation until their
      successors have been duly elected and appointed and qualified or until their
      earlier death, resignation or removal in accordance with the Charter and the
      bylaws.

    

    ARTICLE
      IV

    

    4.1 Common
      Stock.
      As of
      the Effective Time, by virtue of the Merger and without any action on the part
      of the Company, the Subsidiary or any holder of shares of common stock of the
      Company or the Subsidiary:

    

    (a) Each
      share of common stock of the Company issued and outstanding immediately prior
      to
      the Effective Time shall, from and after the Effective Time, remain issued
      and
      outstanding.

    

    (b) All
      shares of common stock of the Subsidiary issued and outstanding immediately
      prior to the Effective Time shall be cancelled and shall cease to exist and
      no
      payment shall be made with respect thereto.

    

    ARTICLE
      V

    

    5.1 Modification.
      Subject
      to the provisions of applicable law, at any time prior to the Effective Time,
      this Agreement may be amended, modified or supplemented in writing only by
      the
      mutual consent of the parties hereto, by action of the board of directors of
      the
      respective parties.

    

    5.2 Counterparts.
      This
      Agreement may be executed in any number of counterparts, each such counterpart
      being deemed to be an original instrument, and all such counterparts shall
      together constitute the same agreement.

    

    5.3 Governing
      Law.
      This
      Agreement shall be deemed to be made in and in all respects shall be
      interpreted, construed and governed by and in accordance with the law of the
      State of Delaware without regard to the conflict of law principles
      thereof.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    5.4 Entire
      Agreement.
      This
      Agreement constitutes the entire agreement and supersedes all other prior
      agreements, understandings, representations and warranties both written and
      oral, among the parties, with respect to the subject matter hereof.

    

    5.5 Severability.
      The
      provisions of this Agreement shall be deemed severable and the invalidity or
      unenforceability of any provision shall not affect the validity and
      enforceability or the other provisions hereof. If any provision of this
      Agreement, or the application thereof to any person or circumstance, is invalid
      or unenforceable, (a) a suitable and equitable provision shall be substituted
      therefore in order to carry out, so far as may be valid and enforceable, the
      intent and purpose of such invalid and unenforceable provision and (b) the
      remainder of this Agreement and the application of such provision to other
      persons or circumstances shall not be affected by such invalidity or
      unenforceability, nor shall such invalidity or unenforceability affect the
      validity or enforceability of such provision, or the application thereof, in
      any
      other jurisdiction.

    

    IN
      WITNESS WHEREOF, this Agreement has been duly executed and delivered by the
      authorized officers of the parties hereto as of the date first written
      above.

    

    

    FORTRESS
      AMERICA ACQUISITION CORPORATION

    

    

    By: /s/
      Harvey L. Weiss     

    Harvey
      L.
      Weiss

    President
      and Chief Executive Officer

    

    FAAC
      MERGER CORPORATION

    

    

    By: /s/
      Harvey L. Weiss     

    Harvey
      L.
      Weiss

    President
      and Chief Executive OfficerEX-4.1 Summary translation of the Sponsorship agre

 

Exhibit 4.1

Summary translation of the Sponsorship agreement, dated January 17, 2005 and
as supplemented on May 26, 2005, among Makita Corporation, Joyama
Kaihatsu Ltd., and Tokyo Tatemono Co., Ltd., relating to the civil rehabilitation of Joyama
Kaihatsu Ltd and the operation of Castle Hill Country Club.

Makita Corporation entered into an agreement with Joyama Kaihatsu Ltd. and Tokyo Tatemono,
Ltd. The purpose of the agreement was for Tokyo Tatemono Co., Ltd to support the rehabilitation of
Joyama Kaihatsu Ltd., enabling it to:

	 	a.	 	maintain and reorganize Castle Hill Country Club;
	 
	 	b.	 	secure the membership rights of its members;
	 
	 	c.	 	secure employment for the employees of Joyama Kaihatsu Ltd.;
	 
	 	d.	 	achieve settlement of creditors’ claims as soon as possible; and
	 
	 	e.	 	expedite the completion of the civil rehabilitation process.

As part of the agreement, Joyama Kaihatsu Ltd., will guarantee the membership rights of its members
and maintain the existing membership system and standards of treatment for its members for the
foreseeable future.

The agreement sets Joyama Kaihatsu Ltd.’s debt obligation at 50%, which Joyama Kaihatsu Ltd .will
satisfy primarily through gifts from Makita Corporation on the date of performance. Makita Corporation and its affiliated companies
will waive all claims against Joyama Kaihatsu Ltd., and will not redeem the amount owed by them.
In addition, all Joyama Kaihatsu Ltd. shares owned by Makita Corporation will be extinguished without
consideration.

Joyama Kaihatsu Ltd., pursuant to its board of directors’ resolution, will be increasing capital by
issuing shares to third parties, as below, with Tokyo Tatemono serving as the underwriter.

	 	 	 
	Class of shares being issued

	 	Common Shares
	The number of shares being issued

	 	1,000 shares
	Issuing Price

	 	JPY 10,000 per share

Joyama Kaihatsu Ltd., will also enter into negotiations with lease holders for a 50% deduction.

Tokyo Tatemono Co., Ltd. will guarantee, for the foreseeable future, continued employment at
Joyama Kaihatsu Ltd., or re-employment at Tokyo Tatemono Co., Ltd’s group companies with comparable
terms of employment, to all existing employees of Joyama Kaihatsu Ltd. that would like continued
employment.

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