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<br />200805417
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<br />PLAN OF ME:RGER
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<br />JiEAVEY COMPANY
<br />, INTP
<br />CO~AG~, ,INe..
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<br />, Plan ,of Merger. of PZAVE Y COMPANY ,.1Morpon,ted under the!' laws
<br />ottbe 'Btilt.4l' of., Minn..ot4a, hereinafter 'nf'erred to a, .PBAVElu
<br />'and .<<. 't.he :"1t\.rg.;i.ng,lI corporation anI! CONAGaA, '-INC" inc9rpo~..~ea
<br />qnder,the, law'. of the St.ate. ot Delaware;- ,he%:.~~af ter x.ef err.d ,t,o
<br />.$- "-CONAGJ\A:~' 'and .~~ the "au tV ivi ng'''. 'cor.l'orllt~()n,
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<br />- 1. :i::ttlllctiveTime, of 'he ~r~.r. '. Jl.t, th.'.fhctive tiin. of'
<br />theme,ger-, 1;'.he...parata eK etellCfe of, tholllergip9 corporat.ion /'
<br />ahall- clta.e a;nd PEAVEY shall',be,marqe4- into eo.*MM.. The effectiv.....
<br />time of :bhJ.em.rti.~, shall b.2l0():'~,~", Kay 2~, 1986.
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<br />2. Governinsr LawJ C8rUffcate. of, Inc1rp?1J'at,i,pn, The law.
<br />which are to'go'Vern t.he surviv n9' 'oorporat'on .,e the laws Qt. the
<br />Stat:. of Pelaware'. ' 'l'1i.Article. of' Incorporation !if GO!fAGRA, , .-,
<br />toget.her ,with al:-l amsncbiliriu: 'th.re't.,&? ,aha,a,- U 'the effec't..tve time
<br />of th~_r.~.r, ,r.srie.!n in .efhC:,t.-and. ,f9vern the .lurvivintJ corpouUon.
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<br />, 3,.' iw-x.awf'- ,The By-LAw. 9,(CONAGRA at.the ~ff.ct.ive tim, of' ,.-
<br />the met"ger- Ihal . b~ the BY-L~w's of ' the au.rviv:1n9 corporation until .,
<br />the slime 'hall be altereCl o;'atll$n~ in accord.nee. with the proviei6ns
<br />thereot;,., . .
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<br />4. . Directors an4otficara. ''1'he'Clireetor.. of CONAGRA: at the
<br />8f;~.,Qt.iv., time .of ~h. Ill,rver "haU bQ,t_he d,i~'.ptors' of the ,aurviving
<br />corporation_until "~eir liJUCce"lilor. Araduly e1,~9ted. .ndqu.~itieCl,
<br />'subi_et t,o'the authority of 't.he ,Ioard' of'Dir.p;~bn III ,provided by-
<br />.law and ,,by :uhe :~Y":'Law. of the .~urY.i.vin.9cor~~ion, th.',of.f!cer..
<br />ot COl.iAG-aA ',at the .Uecti,vfil t1m.,ofU\e lIuiIlrq;e:fi"hall be ,t;he.'ofUcers
<br />-of:the a",'wivtng:.cot'potat'.ton ~nt.11 lIuoh':,t.'iIIle. ...:t.he!r 8U~Qei'.~rlil are
<br />4uJ;y,:e1_c::t:e4: and ,qualified. . .,
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<br />, -"S','Converei:l.on of shai.re.,!' 1nt.h, ~rm ~ ,The mod. of carry;lJ'l9 -
<br />i rito ef f.Qt ,-tbemllt'gel':,p1"OVra.... 'by t;.6. Plan .n'd;' thitmanne~'~J\d };Ia.is
<br />of "conv~:r;ti,ntf,t;;~.:' .M~..li,o:f the 1D.1'9..j.ng,c;'lo.rp9*"~1on int~ abar..of
<br />e.ONAGAA i... f;Ol1~I'" , , .' . . ",', ,- _ "
<br />(lH . CONAa~- ~italstOOk~' ,None of ~h.,,,,baree of capital
<br />,.tQCk,,~t., WAC~h.ued .tth....f'f.c~ve tim.',o-f the
<br />r\\8rge:r;lhdl be ..QQ*v.:-t'.d"... t..l.J.~~:.of tbe muger, ','./
<br />Put ,11 of .Qcb.har,..., ,.including .Jll#ee held'in, ... ./
<br />the t.X'..,'u'y, J.-t. 'any, .Bh~l1'remain ~.j~.,a .har,.. of, . ,
<br />.ct,?tt<<J,_tock o,f the sur",i~in9 oor~d~lit,ion. . ',',
<br />(b) . 'BAH! C.Pi~al- Sto~k ..;At .-the efbct~v_ time of th, _ ..
<br />, me,!! el' faac. o'l, the' ie'_ued "and -Out.t~n4:ln9 .har... (}of"
<br />PBAVBX",ibell b,e surrendered anl!. O'M,tIed and none .."
<br />of the -all. are. 'of:'oapitPll iltoak .0. t th.,._ :mug1n9 corporatfon
<br />1&8U811 at. the effective time of. t,hemirqer .haUbe
<br />con~er~edu. 'result of ,t,h'lIlerg,ilr,~"tQ i';PNA~RA .
<br />c:aphd".tock'u' .-11 of such .toc~:I... currenUy ~eld
<br />I>Y-_CO~AGRA: .. . . ,. ., "
<br />,. '~:;, :lff.~tl;:otJJxr~~~" ,.At the efhot~:v..i'time of th.m~,r~,.t,_,',
<br />CONAq~".baU liIUCC.~ :t.o, w1tho~t. Q'ther tr.an.fu ,all ot t'he d~hU,
<br />priv~hge'li, :Ulm~nj,t~es,a:n4 :ftanoh1lQS pf 1<hlll 'inerging (los:p~f.:.t..1onJ . .
<br />tOljJetheJ;' ',d th' 411 :~i'opitrty, rea:i:,'pe1".orld" an.cl'llIixed, ari4'.n d'ebes
<br />Que: on_' iifhat.v~'r' account-, and all and every other' interest. .of" Of '
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