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Stoe k, $5. per' Bhl.lre p9X value, of whic h 8.8 of the date
of thi[f Agreement 442,710 share8 of CluBs A Common
Stock were lfHHH~d and out8\a.ndwg, and 124,070 Hhnrea
of Clatlli B Common Stock were iaBued and outstanding.
All of the 198\led and outt;tandHl)o( 9tock of tht' SubeidtadcH
1~ OWIH'd b)' Lindflley. TIH' Hoard of Dtn~ctor8 of
i .llid81ey has n'cowIllcIlded to its AtockholderH for HdopUO!l
a Plan of Complete Liquidation of L1ndBley lri accordnl1c(!
with Sectlon J37 of the Intel"nal Hevenue Code, as amended,
Lindsley must dcqulre the ilHHet8 of th€' SubBidlnrica to
hav(' them !\Vullablf' for Halt' by Lindt-!}('Y and therefore
It haH been H.gn~ed that HI(' Sub8Hliadc8 merge with dnd
Into Linda!!')'.
The Hoards of Dlrcc\O['fi of Llndtilt>y flnd
of each of tljl' Subsidiaries have approved thl8 ARTcemcnt
of Mer gel',
THl-:HEFOHE, in conSldecatlOn or the pn'Cl)1!H"B
and thi" mutual covenllntR herelIl cotltiHned, tht.' pat"tieR
hen'to fll{rCt', In accordance with the prov\o\onB of
Chapter 608, Flonda St!1\lltt!~, 1 Util, af! l.1mended, th!lt the
SUb9i(ilflrll~f+ Hh811 be, and they hen~by !ire, mer~ed into a
Rlnglf~ (orpon"itlOfi, Luvlslcy, <)IW (If the partiCil jiiH'eto,
......hleh 8r:..lli tH.' the t-lu!'\l1VlI\g corporat\On (when refprencc
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