|
|
| |
|
|
|
Gabrielle Sulzberger
Chair of the Board of Directors |
| |
John Mackey
Chief Executive Officer and Co-Founder |
|
| By Telephone | | | By Internet | | | By Mail | | | In Person | |
| You can vote by telephone by viewing the proxy materials at www.ProxyVote.com and using a touch-tone phone and the toll-free number provided at that time. You can also use a telephone to request a paper copy of the proxy materials. | | | You can vote online at www.ProxyVote.com. You will need the 12-digit control number on the proxy card. | | | You can vote by mail by marking, dating and signing your proxy card or voting instruction form and returning it in the postage-paid envelope. | | | You can vote in person at the special meeting. Please refer to the section entitled “The Special Meeting — Date, Time and Place of the Special Meeting” for further information regarding attending the special meeting. | |
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2017
|
| |
2018(4)
|
| |
2019
|
| |
2020
|
| |
2021
|
| |||||||||||||||
Revenue
|
| | | $ | 15,887 | | | | | $ | 16,490 | | | | | $ | 17,339 | | | | | $ | 18,217 | | | | | $ | 19,238 | | |
EBITDA(2) | | | | $ | 1,216 | | | | | $ | 1,331 | | | | | $ | 1,656 | | | | | $ | 1,815 | | | | | $ | 1,949 | | |
Free Cash Flow(3)
|
| | | $ | 324 | | | | | $ | 422 | | | | | $ | 639 | | | | | $ | 738 | | | | | $ | 814 | | |
| | |
2017(1)
|
| |
2018(2)
|
| |
2019
|
| |
2020
|
| |
2021
|
| |||||||||||||||
EBITDA | | | | | | | |||||||||||||||||||||||||
Net income
|
| | | $ | 409 | | | | | $ | 470 | | | | | $ | 658 | | | | | $ | 739 | | | | | $ | 794 | | |
Provision for income taxes
|
| | | $ | 262 | | | | | $ | 300 | | | | | $ | 420 | | | | | $ | 473 | | | | | $ | 507 | | |
Interest expense
|
| | | $ | 47 | | | | | $ | 47 | | | | | $ | 47 | | | | | $ | 47 | | | | | $ | 47 | | |
Investment and other income
|
| | | $ | (8) | | | | | $ | (14) | | | | | $ | (20) | | | | | $ | (29) | | | | | $ | (33) | | |
Operating income
|
| | | $ | 710 | | | | | $ | 803 | | | | | $ | 1,105 | | | | | $ | 1,230 | | | | | $ | 1,315 | | |
Depreciation and amortization
|
| | | $ | 506 | | | | | $ | 528 | | | | | $ | 551 | | | | | $ | 585 | | | | | $ | 634 | | |
EBITDA | | | | $ | 1,216 | | | | | $ | 1,331 | | | | | $ | 1,656 | | | | | $ | 1,815 | | | | | $ | 1,949 | | |
| | |
2017
|
| |
2018(1)
|
| |
2019
|
| |
2020
|
| |
2021
|
| |||||||||||||||
Free Cash Flow | | | | | | | |||||||||||||||||||||||||
Net cash provided by operating activities
|
| | | $ | 1,019 | | | | | $ | 1,079 | | | | | $ | 1,293 | | | | | $ | 1,420 | | | | | $ | 1,532 | | |
Development costs of new locations
|
| | | $ | (370) | | | | | $ | (343) | | | | | $ | (340) | | | | | $ | (367) | | | | | $ | (402) | | |
Other property and equipment expenditures
|
| | | $ | (325) | | | | | $ | (314) | | | | | $ | (314) | | | | | $ | (315) | | | | | $ | (316) | | |
Free Cash Flow
|
| | | $ | 324 | | | | | $ | 422 | | | | | $ | 639 | | | | | $ | 738 | | | | | $ | 814 | | |
| Grocery Retailers | | | Mass Merchandisers | |
| The Kroger Co. | | | Wal-Mart Stores, Inc. | |
| Ahold Delhaize | | | Target Corporation | |
| Sprouts Farmers Market, Inc. | | | | |
| Weis Markets, Inc. | | | | |
| Supervalu, Inc. | | | | |
| Ingles Markets, Incorporated | | | | |
|
Selected Company
|
| |
EV/2017E EBITDA
|
| |
EV/2018E EBITDA
|
| ||||||
| Grocery Retailers | | | | ||||||||||
|
The Kroger Co.
|
| | | | 6.9x | | | | | | 6.7x | | |
|
Ahold Delhaize
|
| | | | 6.5x | | | | | | 6.1x | | |
|
Sprouts Farmers Market, Inc.
|
| | | | 12.6x | | | | | | 11.1x | | |
|
Weis Markets, Inc.
|
| | | | 8.0x | | | | | | NA | | |
|
Supervalu, Inc.
|
| | | | 4.9x | | | | | | 5.0x | | |
|
Ingles Markets, Incorporated
|
| | | | 6.9x | | | | | | 6.6x | | |
| Mass Merchandisers | | | | ||||||||||
|
Wal-Mart Stores, Inc.
|
| | | | 8.7x | | | | | | 8.6x | | |
|
Target Corporation
|
| | | | 6.7x | | | | | | 6.7x | | |
Analysis
|
| |
Adjusted
EBITDA/EBITDA |
| |
Selected
Multiple Range |
| |
Implied Share
Price Range |
|
| | |
(millions)
|
| | | | | | |
EV/2017E Adj. EBITDA
|
| |
$1,258
|
| |
7.0x to 9.5x
|
| |
$27.75 to $36.89
|
|
EV/2018E EBITDA
|
| |
$1,331
|
| |
7.0x to 9.5x
|
| |
$29.22 to $39.04
|
|
|
Selected Company
|
| |
Price/2017E EPS
|
| |
Price/2018E EPS
|
| ||||||
| Grocery Retailers | | | | ||||||||||
|
The Kroger Co.
|
| | | | 13.8x | | | | | | 13.1x | | |
|
Ahold Delhaize
|
| | | | 14.7x | | | | | | 13.0x | | |
|
Sprouts Farmers Market, Inc.
|
| | | | 27.2x | | | | | | 23.9x | | |
|
Weis Markets, Inc.
|
| | | | NA | | | | | | NA | | |
|
Supervalu, Inc.
|
| | | | 11.8x | | | | | | 11.4x | | |
|
Ingles Markets, Incorporated
|
| | | | 14.1x | | | | | | 12.7x | | |
| Mass Merchandisers | | | | ||||||||||
|
Wal-Mart Stores, Inc.
|
| | | | 18.3x | | | | | | 17.4x | | |
|
Target Corporation
|
| | | | 13.4x | | | | | | 13.8x | | |
|
Analysis
|
| |
Adj. EPS/
EPS |
| |
Selected
Multiple Range |
| |
Implied Share
Price Range |
|
|
Price/2017E Adj. EPS
|
| |
$1.43
|
| |
20.0x to 24.0x
|
| |
$28.69 to $34.43
|
|
|
Price/2018E EPS
|
| |
$1.49
|
| |
20.0x to 24.0x
|
| |
$29.76 to $35.72
|
|
Date Announced |
| |
Target
|
| |
Acquiror
|
| |
TEV/LTM
Adjusted EBITDA: |
|
04/10/17 | | | Unified Grocers, Inc. | | | Supervalu Inc. | | |
10.0x
|
|
10/17/16 | | | Save-A-Lot (subsidiary of Supervalu Inc.) | | | Onex Corp. | | |
6.4x
|
|
03/14/16 | | | The Fresh Market, Inc. | | | Apollo Global Management, LLC | | |
7.1x
|
|
11/11/15 | | | Roundy’s, Inc. | | | The Kroger Co. | | |
7.1x
|
|
06/24/15 | | | Delhaize Group | | | Koninklijke Ahold N.V | | |
8.1x
|
|
08/27/14 | | | Demoulas Super Markets, Inc. (50.5% stake) | | | Arthur T. Demoulas | | |
*
|
|
03/06/14 | | | Safeway Inc. | | | Cerberus Capital Management, L.P., Kimco Realty Corporation, Klaff Realty, LP, Lubert-Adler Partners LP, Schottenstein Stores Corporation | | |
5.0x
|
|
12/20/13 | | | Arden Group, Inc. | | | TPG | | |
10.0x
|
|
07/22/13 | | | Nash Finch Company | | | Spartan Stores, Inc. | | |
6.7x
|
|
07/09/13 | | | Harris Teeter Supermarkets, Inc. | | | The Kroger Co. | | |
7.3x
|
|
01/10/13 | | | Supervalu (five retail grocery banners) | | |
Cerberus Capital Management L.P.
|
| |
4.0x
|
|
10/11/12 | | | Smart & Final Holdings Corp. | | | Ares Management | | |
7.5x
|
|
12/19/11 | | | Winn-Dixie Stores, Inc. | | | Lone Star Funds | | |
5.4x
|
|
Date Announced |
| |
Target
|
| |
Acquiror
|
| |
TEV/LTM
Adjusted EBITDA: |
|
06/28/11 | | | BJ’s Wholesale Club, Inc. | | | CVC Capital Partners, Leonard Green & Partners LP | | |
7.6x
|
|
12/17/09 | | | Ukrop’s Super Markets, Inc. | | | Ahold USA | | |
*
|
|
10/05/09 | | | Bi-Lo | | | Delhaize Group | | |
*
|
|
10/11/07 | | | TOPS Friendly Markets, LLCMarkets | | | Morgan Stanley Private Equity | | |
*
|
|
03/05/07 | | | Pathmark Stores Inc. | | | The Great Atlantic & Pacific Tea Company | | |
10.0x
|
|
02/21/07 | | | Wild Oats Marketplace | | | Whole Foods | | |
15.3x
|
|
02/20/07 | | | Smart & Final Inc. | | | Apollo Global Management, LLC | | |
10.5x
|
|
Analysis
|
| |
LTM Adjusted
EBITDA |
| |
Selected Multiple
Range |
| |
Implied Share
Price Range |
|
| | |
(millions)
|
| | | | | | |
Enterprise
Value/LTM Adjusted EBITDA |
| |
$1,293
|
| |
8.0x to 10.0x
|
| |
$31.84 to $39.93
|
|
|
Scenario
|
| |
Implied Value Range Per Share
(Terminal Multiple) |
|
|
Management Estimates
|
| |
$37.11 to $51.22
|
|
|
Public Equity Analysts’ Estimates
|
| |
$28.50 to $39.55
|
|
|
Scenario
|
| |
Implied Value Range Per Share
(Perpetuity Growth Rate) |
|
|
Management Estimates
|
| |
$36.05 to $65.01
|
|
|
Public Equity Analysts’ Estimates
|
| |
$23.17 to $41.80
|
|
| | |
Metric as of
June 14, 2017 |
| |
Implied Premium
|
| ||||||
June 14, 2017
|
| | | $ | 35.45 | | | | | | 18.5% | | |
Prior to JANA (4/7/17)
|
| | | $ | 31.07 | | | | | | 35.2% | | |
30-Day VWAP
|
| | | $ | 35.48 | | | | | | 18.4% | | |
60-Day VWAP
|
| | | $ | 35.94 | | | | | | 16.8% | | |
90-Day VWAP
|
| | | $ | 34.11 | | | | | | 23.1% | | |
6-Month VWAP
|
| | | $ | 32.45 | | | | | | 29.4% | | |
12-Month VWAP
|
| | | $ | 31.34 | | | | | | 34.0% | | |
52-Week High
|
| | | $ | 37.03 | | | | | | 13.4% | | |
52-Week Low
|
| | | $ | 27.96 | | | | | | 50.2% | | |
Name
|
| |
Cash
($)(1) |
| |
Equity
($)(2) |
| |
Perquisites/
Benefits ($)(3) |
| |
Total
($) |
| ||||||||||||
John Mackey
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Walter E. Robb, IV(4)
|
| | | | — | | | | | | 55,760 | | | | | | — | | | | | | 55,760 | | |
Glenda Flanagan
|
| | | | 2,571,423 | | | | | | 525,765 | | | | | | 4,158 | | | | | | 3,101,346 | | |
Keith Manbeck
|
| | | | 3,241,667 | | | | | | 540,200 | | | | | | — | | | | | | 3,781,867 | | |
A.C. Gallo
|
| | | | 2,571,423 | | | | | | 1,236,186 | | | | | | 17,478 | | | | | | 3,825,086 | | |
David Lannon
|
| | | | 2,571,423 | | | | | | 382,710 | | | | | | 13,338 | | | | | | 2,967,471 | | |
Jason Buechel
|
| | | | 5,705,635 | | | | | | 529,957 | | | | | | 4,680 | | | | | | 6,240,272 | | |
Name
|
| |
Severance
Payment ($) |
| |
Prorated
Annual Bonus Payment ($) |
| |
Accelerated Non-
Compete Payment ($) |
| |||||||||
Glenda Flanagan
|
| | | | 2,420,453 | | | | | | 150,970 | | | | | | — | | |
A.C. Gallo
|
| | | | 2,420,453 | | | | | | 150,970 | | | | | | — | | |
David Lannon
|
| | | | 2,420,453 | | | | | | 150,970 | | | | | | — | | |
Jason Buechel
|
| | | | 2,354,665 | | | | | | 150,970 | | | | | | 3,200,000 | | |
Name
|
| |
Company Stock
Options ($) |
| |
Company
Restricted Stock Awards ($) |
| |
Company
Restricted Stock Unit Awards ($) |
| |||||||||
John Mackey
|
| | | | — | | | | | | — | | | | | | — | | |
Walter E. Robb, IV
|
| | | | 55,760 | | | | | | — | | | | | | — | | |
Glenda Flanagan
|
| | | | 313,077 | | | | | | 212,688 | | | | | | — | | |
Keith Manbeck
|
| | | | 120,200 | | | | | | — | | | | | | 420,000 | | |
A.C. Gallo
|
| | | | 72,744 | | | | | | 1,163,442 | | | | | | — | | |
David Lannon
|
| | | | 170,022 | | | | | | 212,688 | | | | | | — | | |
Jason Buechel
|
| | | | 479,725 | | | | | | 50,232 | | | | | | — | | |
| | |
Market Price
|
| |
Dividend
Declared |
| ||||||||||||
| | |
High
|
| |
Low
|
| ||||||||||||
Fiscal 2015 | | | | | | | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 52.40 | | | | | $ | 36.24 | | | | | $ | 0.13 | | |
Second Quarter
|
| | | $ | 57.57 | | | | | $ | 50.70 | | | | | $ | 0.13 | | |
Third Quarter
|
| | | $ | 52.16 | | | | | $ | 39.10 | | | | | $ | 0.13 | | |
Fourth Quarter
|
| | | $ | 41.97 | | | | | $ | 30.18 | | | | | $ | 0.13 | | |
Fiscal 2016 | | | | | | | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 34.84 | | | | | $ | 28.61 | | | | | $ | 0.135 | | |
Second Quarter
|
| | | $ | 34.61 | | | | | $ | 27.94 | | | | | $ | 0.135 | | |
Third Quarter
|
| | | $ | 35.43 | | | | | $ | 28.06 | | | | | $ | 0.135 | | |
Fourth Quarter
|
| | | $ | 34.67 | | | | | $ | 27.67 | | | | | $ | 0.135 | | |
Fiscal 2017 | | | | | | | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 32.80 | | | | | $ | 27.86 | | | | | $ | 0.14 | | |
Second Quarter
|
| | | $ | 31.58 | | | | | $ | 28.38 | | | | | $ | 0.14 | | |
Third Quarter
|
| | | $ | 43.84 | | | | | $ | 31.02 | | | | | $ | 0.18 | | |
Fourth Quarter (Through July 20, 2017)
|
| | | $ | 42.28 | | | | | $ | 41.73 | | | | | | — | | |
| | |
Common Stock
|
| |||||||||
| | |
Number of Shares
Beneficially Owned |
| |
Percent of Class
|
| ||||||
The Vanguard Group(1)
|
| | | | 29,780,195 | | | | | | 9.3% | | |
BlackRock, Inc.(2)
|
| | | | 24,826,158 | | | | | | 7.8% | | |
Jason Buechel(3)
|
| | | | 99,245 | | | | | | * | | |
Mary Ellen Coe
|
| | | | 1,200 | | | | | | * | | |
Glenda Flanagan(4)
|
| | | | 382,831 | | | | | | * | | |
Ken Hicks
|
| | | | 0 | | | | | | * | | |
A.C. Gallo(5)
|
| | | | 235,145 | | | | | | * | | |
Hass Hassan(6)
|
| | | | 63,271 | | | | | | * | | |
Stephanie Kugelman(7)
|
| | | | 51,877 | | | | | | * | | |
David Lannon(8)
|
| | | | 151,462 | | | | | | * | | |
John Mackey(9)
|
| | | | 979,975 | | | | | | * | | |
Keith Manbeck
|
| | | | 0 | | | | | | * | | |
Joseph Mansueto
|
| | | | 6,600 | | | | | | * | | |
Sharon McCollam
|
| | | | 0 | | | | | | * | | |
Scott F. Powers
|
| | | | 0 | | | | | | * | | |
Walter Robb(10)
|
| | | | 400,731 | | | | | | * | | |
Jonathan Seiffer(11)
|
| | | | 202,204 | | | | | | * | | |
Ron Shaich
|
| | | | 0 | | | | | | * | | |
Gabrielle Sulzberger(12)
|
| | | | 82,628 | | | | | | * | | |
Including indirect beneficial ownership, all directors and officers
as a group(13) |
| | | | 3,132,711 | | | | | | 1.0% | | |
| | |
Page
|
| |||
Article I
The Merger; Closing; Effective Time
|
| ||||||
| | | | A-1 | | | |
| | | | A-1 | | | |
| | | | A-1 | | | |
Article II
Articles of Incorporation and Bylaws
of the Surviving Corporation |
| ||||||
| | | | A-2 | | | |
| | | | A-2 | | | |
Article III
Directors and Officers of the Surviving Corporation
|
| ||||||
| | | | A-2 | | | |
| | | | A-2 | | | |
Article IV
Effect of the Merger on Capital Stock;
Exchange of Share Certificates |
| ||||||
| | | | A-2 | | | |
| | | | A-3 | | | |
| | | | A-5 | | | |
| | | | A-6 | | | |
Article V
Representations and Warranties
|
| ||||||
| | | | A-7 | | | |
| | | | A-26 | | | |
Article VI
Covenants
|
| ||||||
| | | | A-28 | | | |
| | | | A-32 | | | |
| | | | A-36 | | | |
| | | | A-36 | | | |
| | | | A-37 | | | |
| | | | A-38 | | | |
| | | | A-40 | | | |
| | | | A-40 | | | |
| | | | A-40 | | | |
| | | | A-42 | | | |
| | | | A-42 | | | |
| | | | A-43 | | |
| | |
Page
|
| |||
| | | | A-43 | | | |
| | | | A-43 | | | |
| | | | A-44 | | | |
| | | | A-44 | | | |
Article VII
Conditions
|
| ||||||
| | | | A-47 | | | |
| | | | A-47 | | | |
| | | | A-48 | | | |
Article VIII
Termination
|
| ||||||
| | | | A-48 | | | |
| | | | A-49 | | | |
Article IX
Miscellaneous and General
|
| ||||||
| | | | A-51 | | | |
| | | | A-51 | | | |
| | | | A-51 | | | |
| | | | A-51 | | | |
| | | | A-52 | | | |
| | | | A-53 | | | |
| | | | A-54 | | | |
| | | | A-54 | | | |
| | | | A-54 | | | |
| | | | A-54 | | | |
| | | | A-54 | | | |
| | | | A-54 | | | |
| | | | A-54 | | | |
| | | | A-55 | | | |
| | | | A-A-1 | | | |
Exhibit A
Form of Articles of Incorporation of the Surviving Corporation
|
| | | | | | |
| Amazon.com, Inc. | | |||
| 410 Terry Avenue North | | |||
| Seattle, WA 98109 | | |||
| Attention: | | | General Counsel | |
| Facsimile: | | | (206) 266-7010 | |
| Sullivan & Cromwell LLP | | |||
| 1888 Century Park East, Suite 2100 | | |||
| Los Angeles, CA 90067 | | |||
| Attention: | | | Eric Krautheimer | |
| Facsimile: | | | (310) 407-2683 | |
| Sullivan & Cromwell LLP | | |||
| 125 Broad Street | | |||
| New York, NY 10004 | | |||
| Attention: | | | Krishna Veeraraghavan | |
| Facsimile: | | | (212) 291-9519 | |
| Whole Foods Market, Inc. | | |||
| 550 Bowie Street | | |||
| Austin, TX 78703 | | |||
| Attention: | | | Heather Stern, General Counsel | |
| Email: | | | heather.stern@wholefoods.com | |
| Wachtell, Lipton, Rosen & Katz | | |||
| 51 West 52 Street | | |||
| New York, NY 10019 | | |||
| Attention: | | | Daniel A. Neff Trevor S. Norwitz Sabastian V. Niles |
|
| Facsimile: | | | (212) 403-2000 | |
| | | | AMAZON.COM, INC. | | |||
| | | | By: | | | /s/ Peter Krawiec | |
| | | | | | | Name: Peter Krawiec | |
| | | | | | | Title: Vice President | |
| | | | WHOLE FOODS MARKET, INC. | | |||
| | | | By: | | | /s/ John Mackey | |
| | | | | | | Name: John Mackey | |
| | | | | | | Title: Chief Executive Officer | |
| | | | WALNUT MERGER SUB, INC. | | |||
| | | | By: | | | /s/ Peter Krawiec | |
| | | | | | | Name: Peter Krawiec | |
| | | | | | | Title: Vice President | |
Term
|
| |
Section
|
|
Acquisition Proposal
|
| |
6.2(d)
|
|
Action
|
| |
5.1(g)(i)
|
|
Affiliate
|
| |
5.1(c)(ii)
|
|
Agreement
|
| |
Preamble
|
|
Alternative Acquisition Agreement
|
| |
6.2(e)(vi)
|
|
Antitrust Laws
|
| |
5.1(b)(iii)
|
|
Applicable Date
|
| |
5.1(e)(i)
|
|
Benefit Plans
|
| |
5.1(h)(i)
|
|
Book-Entry Share
|
| |
4.1(a)
|
|
Business Day
|
| |
1.2
|
|
Bylaws
|
| |
2.2
|
|
Certificate of Merger
|
| |
1.3
|
|
Change of Recommendation
|
| |
6.2(e)(vi)
|
|
Charter
|
| |
2.1
|
|
Chosen Courts
|
| |
9.5(a)
|
|
Closing
|
| |
1.2
|
|
Closing Date
|
| |
1.2
|
|
Code
|
| |
4.2(h)
|
|
Company
|
| |
Preamble
|
|
Company 401(k) Plan
|
| |
6.9(c)
|
|
Company Board
|
| |
Recitals
|
|
Company Disclosure Schedule
|
| |
5.1
|
|
Company Option
|
| |
4.3(a)
|
|
Company Permits
|
| |
5.1(i)(ii)(A)
|
|
Company Products
|
| |
5.1(t)(ii)
|
|
Company Recommendation
|
| |
5.1(c)(ii)
|
|
Company Reports
|
| |
5.1(e)(i)
|
|
Company Restricted Share Award
|
| |
4.3(b)
|
|
Company RSU Award
|
| |
4.3(c)
|
|
Company SAR
|
| |
4.3(d)
|
|
Company Shareholders Meeting
|
| |
6.4(a)
|
|
Company Termination Fee
|
| |
8.2(b)
|
|
Competition Act
|
| |
5.1(d)(i)
|
|
Competition Bureau
|
| |
6.5(d)
|
|
Confidentiality Agreement
|
| |
6.6(b)
|
|
Constituent Corporations
|
| |
Preamble
|
|
Continuing Employees
|
| |
6.9(a)
|
|
Contract
|
| |
5.1(d)(ii)
|
|
D&O Indemnitee
|
| |
6.11(b)
|
|
D&O Insurance
|
| |
6.11(c)(ii)
|
|
Debt Financing
|
| |
6.16(b)
|
|
Debt Payoff
|
| |
6.16(a)
|
|
Dissenting Shares
|
| |
4.1(a)
|
|
DOJ
|
| |
6.5(d)
|
|
Effective Time
|
| |
1.3
|
|
Employees
|
| |
5.1(h)(i)
|
|
Environmental Law
|
| |
5.1(n)
|
|
Term
|
| |
Section
|
|
ERISA
|
| |
5.1(h)(i)
|
|
ERISA Affiliate
|
| |
5.1(h)(v)
|
|
ERISA Plan
|
| |
5.1(h)(ii)
|
|
ESPP
|
| |
4.3(e)
|
|
ESPP Termination Date
|
| |
4.3(e)
|
|
Exchange Act
|
| |
5.1(d)(i)
|
|
Excluded Shares
|
| |
4.1(a)
|
|
Expense Reimbursement
|
| |
8.2(b)
|
|
FCPA
|
| |
5.1(s)
|
|
Final Offering
|
| |
4.3(e)
|
|
Financing Source
|
| |
8.2(e)
|
|
FTC
|
| |
6.5(d)
|
|
Government Official
|
| |
5.1(s)
|
|
Governmental Authority
|
| |
5.1(d)(i)
|
|
Hazardous Substance
|
| |
5.1(n)
|
|
HSR Act
|
| |
5.1(b)(iii)
|
|
Indenture
|
| |
6.16(a)
|
|
Indenture Documents
|
| |
6.16(a)
|
|
Insurance Policies
|
| |
5.1(r)
|
|
Intellectual Property Rights
|
| |
5.1(q)(vii)
|
|
Intervening Event
|
| |
6.2(f)
|
|
IRS
|
| |
5.1(h)(ii)
|
|
IT Assets
|
| |
5.1(q)(vii)
|
|
Knowledge
|
| |
5.1(g)(ii)
|
|
Laws
|
| |
5.1(i)(i)(A)
|
|
Leased Real Property
|
| |
5.1(l)(iii)(A)
|
|
Letter of Transmittal
|
| |
4.2(c)(i)
|
|
Lien
|
| |
5.1(l)(iii)(B)
|
|
Material Adverse Effect
|
| |
5.1(a)(ii)
|
|
Material Contract
|
| |
5.1(j)(i)
|
|
Material Real Property Leases
|
| |
5.1(l)(iii)(F)
|
|
material weakness
|
| |
5.1(e)(iii)
|
|
Merger
|
| |
Recitals
|
|
Merger Consideration
|
| |
4.1(a)
|
|
Merger Sub
|
| |
Preamble
|
|
Multiemployer Plan
|
| |
5.1(h)(ii)
|
|
NASDAQ
|
| |
5.1(a)(F)
|
|
Non-U.S. Benefit Plans
|
| |
5.1(h)(i)
|
|
Notes Assumption
|
| |
6.16(a)
|
|
Notes Assumption Officer’s Certificate
|
| |
6.16(a)
|
|
Order
|
| |
7.1(c)
|
|
Outside Date
|
| |
8.1(b)
|
|
Owned Intellectual Property
|
| |
5.1(q)(vii)
|
|
Owned Real Property
|
| |
5.1(l)(ii)
|
|
Parent
|
| |
Preamble
|
|
Parent 401(k) Plan
|
| |
6.9(c)
|
|
Paying Agent
|
| |
4.2(a)
|
|
Payment Fund
|
| |
4.2(b)
|
|
Permitted Liens
|
| |
5.1(l)(iii)(C)
|
|
Term
|
| |
Section
|
|
Person
|
| |
4.2(e)
|
|
Personal Information
|
| |
5.1(q)(vii)
|
|
Preferred Shares
|
| |
5.1(b)(i)
|
|
Proxy Statement
|
| |
6.3(a)
|
|
Real Property
|
| |
5.1(l)(iii)(D)
|
|
Real Property Leases
|
| |
5.1(l)(iii)(E)
|
|
Registered
|
| |
5.1(q)(vii)
|
|
Registered Intellectual Property
|
| |
5.1(q)(vii)
|
|
Representatives
|
| |
6.2(a)
|
|
Requisite Company Vote
|
| |
5.1(c)(i)
|
|
SEC
|
| |
5.1(e)(i)
|
|
Securities Act
|
| |
5.1(e)(i)
|
|
Share Certificate
|
| |
4.1(a)
|
|
Shares
|
| |
Recitals
|
|
significant deficiency
|
| |
5.1(e)(iii)
|
|
Significant Supplier
|
| |
5.1(k)
|
|
Specified Contract
|
| |
5.1(j)(vi)
|
|
Stock Plan
|
| |
5.1(b)(i)
|
|
Subsidiary
|
| |
5.1(a)(i)
|
|
Superior Proposal
|
| |
6.2(d)
|
|
Surviving Corporation
|
| |
1.1
|
|
Tail Period
|
| |
6.11(c)(ii)
|
|
Takeover Statute
|
| |
5.1(m)
|
|
Tax
|
| |
5.1(o)
|
|
Tax Return
|
| |
5.1(o)
|
|
TBOC
|
| |
Recitals
|
|
Termination Payment
|
| |
8.2(c)
|
|
Trademarks
|
| |
5.1(q)(vii)
|
|
U.S. Benefit Plans
|
| |
5.1(h)(ii)
|
|
U.S. GAAP
|
| |
5.1(a)(ii)(C)
|
|
willful and material breach
|
| |
8.2(a)
|
|
Name
|
| |
Address
|
|
[●] | | | [●] | |