Document:

Unassociated Document

     

    AGREEMENT
      AND PLAN OF MERGER

     

    AGREEMENT
      AND PLAN OF MERGER (“Merger Agreement”) dated as of October 31,
      2007 by and between NMMS, LLC, a Delaware limited liability
      company (“Newco”) and NYFIX MILLENNIUM, L.L.C., a
      Delaware limited liability company (“Millennium”, together with Newco
      being sometimes hereinafter collectively referred to as the “Constituent
      Companies”).

     

    WHEREAS,
      Section 18-209 of the Delaware Limited Liability Company Act (the
“DLLCA”) authorizes the merger of one Delaware limited liability company
      with and into another Delaware limited liability company; and

     

    WHEREAS,
      Newco is a limited liability company one hundred percent (100%) of the
      membership interests in which (the “Newco Interests”) are held by NYFIX
      Broker-Dealer Holdings, LLC (“NYFIX BD”); and

     

    WHEREAS,
      Millennium is a limited liability company, eighty percent (80%) of the
      membership interests in which are held by NYFIX BD and the remaining twenty
      percent (20%) of the membership interests in which are held by other interest
      holders (collectively, the “Millennium Interests”); and

     

    WHEREAS,
      the sole member of Newco and members of Millennium holding more than fifty
      percent (50%) of the current membership interests in Millennium have approved
      the merger of Newco with and into Millennium (the “Merger”) on the terms
      and conditions hereinafter set forth, subject to such further approvals and
      actions as may be required under the law of the State of Delaware;
      and

     

    NOW,
      THEREFORE, in consideration of the mutual covenants and agreements
      herein contained and of other good and valuable consideration, the receipt
      and
      sufficiency of which are hereby acknowledged, the parties hereto agree as
      follows:

     

    ARTICLE
      I

     

    The
      Merger

     

    At
      the
      Effective Time in accordance with the provisions of this Merger Agreement and
      the DLLCA, Newco shall be merged with and into Millennium and Millennium shall
      be the surviving limited liability company (hereafter sometimes referred to
      as
      the “Surviving LLC”) and shall continue its limited liability company
      existence under the laws of the State of Delaware.  At the Effective
      Time the separate existence of Newco shall cease.  The holder of Newco
      Interests at the Effective Time shall be the continuing holder of all Millennium
      Interests after the Merger.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

       

    

    ARTICLE
      II

     

    Adoption,
      Execution and Filing of Merger Agreement

     

    (a)           The
      Merger shall not become effective until, and shall become effective at, 11:59
      p.m. on October 31, 2007; provided that, prior to such time, a certificate
      of
      merger shall have been executed and accepted for filing in the office of the
      Delaware Secretary of State in accordance with the DLLCA specifying such
      effective time.

     

    (b)           The
      date and time when the Merger shall become effective as described in Section
      2(a) above is referred to as the “Effective Time.”

     

    ARTICLE
      III

     

    Certificate
      of Formation; Operating Agreements

     

    At
      the
      Effective Time:

     

    (a)           The
      certificate of formation of Millennium, as in effect immediately prior to the
      Effective Time, shall be the certificate of formation of the Surviving LLC
      (the
“Certificate of Formation”), and the name of the Surviving LLC shall be
“NYFIX Millennium, L.L.C.”

     

    (b)           The
      operating agreement of Millennium, as in effect immediately prior to the
      Effective Time, shall be the operating agreement of the Surviving LLC (the
      “Operating Agreement”) until the Operating Agreement shall thereafter be
      altered, amended or repealed in accordance with the DLLCA, the Certificate
      of
      Formation of the Surviving LLC and the Operating Agreement.

     

    ARTICLE
      IV

     

    Officers

     

    Each
      director and officer of Millennium in office at the Effective Time shall
      continue to be a director or officer of the Surviving LLC and shall hold office
      from the Effective Time until his or her successor shall have been duly elected
      and qualified, or as otherwise provided in the Operating Agreement.

     

    ARTICLE
      V

     

    Manner
      of Exchanging or Converting Interests

     

    At
      the
      Effective Time:

     

    (a)           Conversion
      of Newco Interests.  At the Effective Time, the Newco
      Interests  outstanding shall be converted into one hundred percent
      (100%) of the membership interests in the Surviving LLC.

     

    (b)           Millennium
      Interests Converted into Right to Receive $72.727 Per Unit.  At
      the Effective Time, each Millennium Interest that shall be outstanding shall
      by
      virtue of the Merger and without further action be deemed cancelled and shall
      be
      converted into the right to receive, without interest, Seventy-Two and 727/000
      Dollars ($72.727) per Unit of Millennium Interests (the “Merger
      Consideration”); provided, however, that the holder of Newco
      Interests shall not receive the Merger Consideration for its Units of Millennium
      Interests and in lieu thereof NYFIX BD shall receive interests in the Surviving
      LLC pursuant to Section 5(a) above as consideration for the
      Merger.

     

     

    
      
        
        

      

      
        -
          2 -

        
          

        

      

      
        
        

      

       

       

    

    (c)           Surrender
      of Certificates.  After the Effective Time each holder of an
      outstanding certificate representing Units of Millennium Interests shall
      surrender the same to the Surviving Company for cancellation.

     

    ARTICLE
      VI

     

    Constituent
      Companies

     

    At
      the
      Effective Time, the Surviving LLC shall thereupon and thereafter possess all
      the
      properties, assets, rights, patents, trademarks, licenses, registrations,
      privileges, powers, franchises and immunities of the Constituent
      Companies.  All debts, liabilities and obligations of the Constituent
      Companies shall become the debts, liabilities and obligations of the Surviving
      LLC; all rights of creditors and all liens on any property of the Constituent
      Companies shall be preserved unimpaired; and all debts, liabilities and
      obligations of the Constituent Companies shall thereafter attach to the
      Surviving LLC and may be enforced against the Surviving LLC to the same extent
      as if said debts, liabilities and obligations had been incurred or contracted
      by
      the Surviving LLC.

     

    ARTICLE
      VII

     

    Termination
      and Amendment

     

    (a)           Termination.  This
      Merger Agreement may be terminated and the Merger may be abandoned for any
      reason at any time prior to the Effective Time by the mutual consent of the
      sole
      member of Newco, on the one hand, and the holders of more than fifty percent
      (50%) of the current Millennium Interests, on the other hand.

     

    (b)           Amendment.  By
      mutual consent of the sole member of Newco, on the one hand, and the holders
      of
      more than fifty percent (50%) of the current Millennium Interests, on the other
      hand, the Constituent Companies may amend, modify and/or supplement this Merger
      Agreement; provided, however, that this Merger Agreement may not
      be so amended, modified, or supplemented except pursuant to an instrument in
      writing executed and delivered on behalf of the Constituent Companies, which
      instrument, when so executed and delivered, shall thereupon become a part of
      this Merger Agreement.

     

    ARTICLE
      VIII

     

    Miscellaneous

     

    (a)           Counterparts.  This
      Merger Agreement may be executed in multiple counterparts, each of which shall
      be an original, but all of which together shall constitute one and the same
      instrument.

     

     

    
      
        
        

      

      
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          3 -

        
          

        

      

      
        
        

      

       

    

    (b)           Governing
      Law.  This Merger Agreement shall be governed by and construed in
      accordance with the laws of the State of Delaware.

     

    (c)           Other
      Actions.  Subject to the other provisions of this Merger
      Agreement, each of the Constituent Companies agree to execute and deliver such
      other documents, certificates, agreements and other writings and to take such
      other actions as may be necessary or desirable to consummate the transactions
      contemplated by this Merger Agreement.

     

    (d)           Headings.  The
      headings contained in this Merger Agreement are inserted for convenience of
      reference only and are not intended to be part of, or affect the meaning or
      interpretation of, the Merger Agreement.

     

    (e)           Notices.  Any
      notice, request, instruction or other communication to be given by any party
      hereto to the other shall be in writing and shall be delivered personally or
      sent by registered mail, postage prepaid, to such address as such party may
      designate by written notice to the party giving such notice.

     

    

     

    *  *  *  *

    
      
        
        

      

      
        -
          4 -

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF, each of the parties hereto has caused this Merger
      Agreement to be signed in its limited liability company name by an authorized
      representative of such Constituent Company, all as of the date first above
      written.

     

    
      	 	NMMS,
              LLC	 
	 	 	 	 
	 	 	 	 
	
               

            	
              By:
                

            	
              NYFIX
                BROKER-DEALER HOLDINGS, LLC, its sole member

            	 
	 	 	 	 

    

    
      	 	 	 	 
	
               

            	
              By:
                

            	/s/ Anthony
              Portelli	 
	 	 	Name:
              Anthony Portelli 	 
	 	 	Title:
              Sole Manager 	 
	 	 	 	 
	 	 	 	 

      	 	
              NYFIX
                MILLENNIUM, L.L.C.

            	 
	 	 	 	 
	 	 	 	 
	
               

            	
              By:
                

            	/s/ Steven
              R. Vigliotti	 
	 	 	Name:
              Steven R. Vigliotti 	 
	 	 	Title:
              Chief Financial Officer 	 
	 	 	 	 

    

     

     

    

    

    

    

    

    

    

    

     

    
 

    

    

    

    [Signature
      Page for Agreement and Plan of Merger of NNMS, LLC and NYFIX Millennium, LLC
      dated as of October 31, 2007]

    - 5
      -lvg_ex101-71106.htm

    Exhibit
      10.1

     

    The
      Contract of LPG Pipeline installation Project

     

    Party
      A: Zunyi City Yong-sheng Real Estate Development Co. Ltd. (Hereafter
      referred to as Party A)

     

    Party
      B: Zunyi Jiahong Gas Co. Ltd. (Hereafter referred to as Party
      B)

    

    In
      accordance with the regulation that “No LPG cylinder can be used in high
      buildings” and Government [2002] No. 37 Document issued by Zunyi City Price
      Bureau to install pipelines through planning, Party A and Party B agree that
      Party A should collect pipeline installation fees from every resident and pass
      them to pay to Party B for the installation project.  The details are
      as follows:

     

    
      
        	
                1)

              	
                The
                  Contract Object

              

      
Party
      B
      should be responsible for the design, installation and construction of the
      LPG
      supply system.  The above LPG supply system includes the supply depot,
      the pipeline network, the interior system and indoor facilities (excluding
      gas
      appliance) as well as other supplementary parts.

    

    
      	
              2)

            	
              The
                ownership of the Object

            

    

    Party
      B
      is responsible for the maintenance and replacement to guarantee the normal
      use
      of the system and own the whole system.  The resident has the long
      term right to use the system.

    

    
      	
              3)

            	
              The
                Quality of the Project

            

    

    The
      detailed construction documents and graphs by designer and the National
      Inspection Standard for LPG Pipeline Construction will be applied as the
      standard of the project.  The quality of the pipes should meet the GB
      standard.  The material used for controlling devices such as valves
      should be imported.  The quality standard should meet with GB ones and
      should be checked by relevant government agencies before use.

    

    
      	
              4)

            	
              Contract
                Price

            

    

    The
      contract price for the installation and construction of the system is RMB 2250
      per household, thus the total will be RMB______________.  There are
      192 households involved in the project, among them there may be 10% maximum
      residents who don’t need the pipelines.  If the number is greater than
      10%, Party A agrees to make up the difference (The exact number of the
      households will be calculated as the completion of the system).  The
      number of households in the lower floors (not including the above 192
      households) will be determined later.

    

    
      	
              5)

            	
              Payment

            

    

    Upon
      the
      signing of this contract, Party A should pay 30% of the total project fees
      to
      Party B as the payments for the design and raw material.  The payment
      should be made no later than February 2008.  Party A should pay to
      Party B another 30% upon the completion of underground pipelines and the
      construction of the central supply depot.  Three days after the
      completion of the system and the approval of government inspections, Party
      A
      should pay to Party B the remaining 40% of the total project fees.

    

    
      	
              6)

            	
              Safety
                Responsibility

            

    

    Party
      B
      should be self responsible for the safety devices and safety controls during
      the
      construction.

    

    
      	
              7)

            	
              Project
                Duration

            

    

    After
      the
      signing of this contract, Party A should provide Party B the schedule of the
      whole buildings’ completion plan.  If the buildings are ready for the
      installation of the LPG system (including the completions of the roofs, exterior
      decoration and roads and sidewalks among the buildings), and Party A formally
      sends Party B a Notice of Readiness for Installation, Party B will complete
      the
      construction and installation within 100 working days from the day of the
      receipt of the Notice.

    

    
      	
              8)

            	
              Responsibility
                of Each Party

            

    
      	
            	
              A)

            	
              Responsibility
                of Party A

            

    

    
      	
            	
              a)

            	
              Make
                the payment on time according to this
                contract.

            

    

    
      	
            	
              b)

            	
              Provide
                the land for the building of the central supply depot and position
                it
                according to the requirements of State Safety
                Regulation.  Provide the ready access to water and electricity
                needed for the depot and measurement meters for water and electricity
                when
                Party A applies the installation of them for each
                household.  But Party B should be responsible for the
                fees.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
            	
              c)

            	
              To
                make it a public knowledge or to educate the households to follow
“Users’
                Handbook for Safely Using LPG Pipeline” and to take care the system
                facilities.

            

    

    
      	
            	
              d)

            	
              Coordinate
                for and assist Party B during the construction so as to provide Party
                B an
                ideal working environment and conditions.  Party B will extend
                the Project Duration if there are delays caused by the changes of
                working
                conditions.

            

    

    
      	
            	
              e)

            	
              Pipeline
                system is supplementary facility for Party A’s
                buildings.  Therefore Party A should assist Party B to apply all
                kinds of approvals from authority at the expenses of Party
                B.

            

    

    

    
      	
            	
              B)

            	
              Responsibility
                of Party B

            

    

    
      	
            	
              a)

            	
              To
                assign a professional to supervise specifically from the beginning
                to the
                end the quality of the installation and
                construction.

            

    

    
      	
            	
              b)

            	
              To
                guarantee the project to be done with the planned schedule and quality
                requirements until the government agencies inspect and approve before
                formal use.  Party B should take responsibility of the
                constructor.

            

    

    
      	
            	
              c)

            	
              To
                make all applications for licenses, permits, approvals, inspections
                and
                bear the costs.

            

    

    
      	
            	
              d)

            	
              To
                dispatch “Users’ Handbook for Safely Using LPG Pipeline” to all users of
                the system and other safety or users’
pamphlets.

            

    

    
      	
            	
              e)

            	
              If
                natural gas is introduced into Zunyi, Party B agrees to provide natural
                gas without additional charges from either Party A or the
                users.

            

    

    

    
      	
              9)

            	
              Violation
                Responsibility

            

    

    
      	
            	
              C)

            	
              Party
                A

            

    

    
      	
            	
              a)

            	
              Once
                the contract is signed, if Party refuses either to execute the contract
                or
                to make the payment, Party A should bear all economic losses caused
                and
                pay 10% of total fees as penalty for breaching the
                contract.  The penalty will charge 5% delay payment of the
                penalty amount per month.

            

    

    

    
      	
            	
              D)

            	
              Party
                B

            

    

    
      	
            	
              a)

            	
              If
                Party B can’t complete the project according to the schedule, not
                including cases caused by force majeure, then Party B should pay
                to Party
                A RMB1000 per day.

            

    

    
      	
            	
              b)

            	
              If
                the project can’t get the approval or get through the inspection by
                government because of the problems of the master design or quality
                control
                during the construction, then Party B should compensate to Party
                A the
                costs Party A has to pay for the residents for the failure to release
                the
                household on time.

            

    

    

    
      	
              10)

            	
              Solution
                of the Dispute

            

    

    Party
      A
      and B can make additional agreements for the terms and conditions not covered
      by
      this contract.  The new agreements have the same legal effectiveness
      as this contract.  If there is any dispute when executing this
      contract, if negotiations can’t solve, then a lawsuit can be brought to Zunyi
      People’s Court.

    

    
      	
              11)  

            	
              This
                contract will immediately take effect once signed the sealed by both
                parties.

            

    

    

    
      	
              12)  

            	
              This
                contract has four original copies, each party holds two of
                them.

            

    

    

    

    
      	Party
              A: Zunyi Yong-sheng Real Estate Development Co. Ltd. 	 	 	Party
              B: Zunyi Jiahong Gas Co. Ltd.	 
	
              Representative:
                (Signed)

            	 	 	
              Representative:
                (Signed)

            	 
	
              Bank
                Account: 

            	 	 	
              Bank
                Account:

            	 
	
              Tel:
                8435806  

            	 	 	
              Tel:
                8272724

            	 

    

            

                                                                                                  

    Dated
      on
      October 26, 2007

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