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<br /> � � 97- i�7 ...�
<br /> �: At the �ffective Time, (i) MPRR shall merge with and i�nto UPRR,
<br /> which shall survive the Merger and cnntinue as a Utah corporation (the "Surviving
<br /> Corporation ),(ii)the sepazate exist�ce of MPRR shall c�ase, as provided in the Act, (ifi)
<br /> pursuant to,the Amended and�e�tated Articl�s of lncorpora�on, t�te authorized amount
<br /> of UPRR Common Stock shall be increased�rom 39,617,870 shares to 9Z,400,000 shares
<br /> and UPRR shall be authorized to issue 8,000,400 shares of a new Class A Stock, par
<br /> value$1�D per shaae (the"UPRR Class A Stock"),tiv) all af the shares af MPRR Common
<br /> Stock and MPRR Class A Stock wluch shall be outstanding in�mediately prior to the
<br /> Merger, and all r3ghts in respe�t tllereof, shall farthwith be converted 'vnto 19,152,560
<br /> Shares Af UPRR CO1xllllOii Stak and 1,6fi5,�90 shares oF YJP'Ri� Claas A Stock,
<br /> respecbively, (v) the 30,467,751.0330599272 shares.of UPRR Connmon Stock owned by
<br /> LJnion 1'acific Corporation immecl"iately prior to the Merger, and all rights in respect
<br /> thereaf,shall forthwith be conve�ted into 28,630,376 shares of Ul'RR Common Stock and
<br /> 2,437,42� shares of [JPRR Class� Stock, and (vi) the 8,399,641.b726231457 shazes of
<br /> L1PR��cimman Stock owned by Cl�icago and North Western Transportation Company
<br /> immecYiately pr�or to the Merger, and all rI$t►ts in respect #hereof, $hall forthwith be
<br /> converted into?,727,632 shazes oE UPRR Cornmon Stock and 671,968 shares of UPRR ,. .
<br /> Class A Stock. , '
<br /> �gj: THE MERGB�t SHA.LL BECOME EFkkC:.11�tv� �►� ii:uG Fvvi�iv
<br /> EASTERN STANUARD TIME UN JANUARY 1;1997. - .
<br /> UTIION PACIFIC"RAILROAD COMPANY �
<br /> . .. , . .
<br /> �
<br /> Name: Carl W.von uth
<br /> Title: Vice Preside and Gec►eral Counsel
<br /> December 27, 1996 •
<br /> c��lquxr�aiQ�rto
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<br /> ge�u�r Co�.�ur'
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