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<br /> �,i�=t A
<br /> 97'- �O�t�'7
<br /> AGREEMENT AND PLAN OF MERGFR
<br /> AGREfiMENT AND PLAN OF MERGER,dated as of thia 21st day of November,
<br /> 1996,purs�.�ant tc,Section 252 of the�elxwaze General Corporation Law and Sections 16-
<br /> 10a�1101 and 16-10a-X107 of the Utah Revised Business Corporation Act,beiwrer�Union�
<br /> Pacific Railroad Company,a Utah corp�ration ("UPRR"), and Missouri Pacific Railroad
<br /> Company, a Delaware corporation("MPRR")•
<br /> WTTNESSETH that:
<br /> V1►HER�AS,each of the constituent corporations deems it advisab�e and ix►its best
<br /> interest to merge into a single corpor.ation;and
<br /> yVHEREAS,each of the constituent corporations desims to adopt this Agreerner�t
<br /> and Plan of Merger and to conswrslmate the merger in accordance with the temns hereof;
<br /> NpW: THEREFORE, the corporations, parties to tbis Agreem.ent and Plan �of
<br /> Merger,in consideration of the mutual covenants,agr�ements and provi.siuiw hE�ein�fter
<br /> , contained, do hereby prescribe the t�rms and conditions of said mer�er and mode of
<br /> carrying the same into effect as follows:
<br /> kTRST; UPRR shall merge imto itself MPRR,and MPRR shall be merged into
<br /> . UPRR (collectively, the "Merger"), with UPRR being tr►e surviving corporaHon (the
<br /> - "Surviving Corporation").
<br /> F SECOND: Subject to prior approval by UPRR's ehareholders, Union Pacific
<br /> � Corporation ("UPC") and Chicago and North WestQm Transportation Company
<br /> � ("CNWI"'), upon the effective time o£ the Merger (the "E#fective T3me") the Restated
<br /> .:� prticles�f Association of UPRR shall be amended and restated in tt�eir entirety as set
<br /> - forth in fixhtbit A hereto (the"Amended and Restated Articles of Incorporation") and
<br /> �such Amended and Restated �rticlea of Yncorporatfon shall be the artides of
<br /> incorporation for the Surviving Corporation. Pursuant to such Amended and Restated
<br /> Articles of Incorporatlon,the numbPx of authorized sYiares of Common Stock,$10.00 par
<br /> value per share, of LJPRR("U�'RR Common Stock") shall be inc�'eased from 39,617,870
<br /> ' to 92,000,000 and UPRR shall be authox3zed to issue 8,000,000 sl�ares af its Class A Stc�c,
<br /> • $10.00 par value per share (the "UPRR Class A Stock")•
<br /> �� THIRD: The manner of converting the outstanding shares of the capital stock
<br /> of �Y►e canstituent corporations shall be as follows:
<br /> (a) All of the shares o£ Common Stack, �1.00 par value per shaz�e, of
<br /> Ndp�("MPRR Common Stock"),and of Class A 5tock, $1.00 paz v�lue per shaz•e,
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