1
EXHIBIT 2.2
AGREEMENT AND WAIVER
THIS AGREEMENT AND WAIVER ("Agreement") is entered into this 31st day
of July, 1997, by and among, Regal Cinemas, Inc., a Tennessee corporation
("Regal"), Regal Acquisition Corporation, an Alabama corporation ("Merger Sub
I"), RAC Corporation, an Alabama corporation ("Merger Sub II"), RAC Finance
Corp., an Alabama corporation ("Merger Sub III"), Xxxx Theatres, L.L.C., an
Alabama limited liability company ("Xxxx Theatres"), X.X. Xxxx, Inc., an Alabama
corporation ("Xxxx I"), Xxxx Theatres II, Inc., an Alabama corporation ("Xxxx
II"), Xxxx Finance Corp., an Alabama corporation ("Xxxx III") and Tricob
Partnership, a general partnership (the "Partnership").
WITNESSETH:
WHEREAS, Regal, Merger Sub I, Merger Sub II, Merger Sub III, Xxxx
Theatres, Xxxx I, Xxxx II, Xxxx III and the Partnership are all parties to that
certain Agreement and Plan of Merger dated June 11, 1997.
WHEREAS, Section 7.3 of the Merger Agreement provides that Regal will
use its best efforts to elect a nominee of Xxxx Theatres to serve as a member of
Regal's Board of Directors, and
WHEREAS, the parties hereto desire to waive such covenant.
NOW THEREFORE, in consideration of the premises hereof and of the
mutual promises and agreements contained herein, the parties hereto, intending
to be legally bound, hereby agree as follows:
AGREEMENT:
1. Xxxx Theatres, Xxxx I, Xxxx II, Xxxx III and the Partnership hereby
waive compliance by Regal with Section 7.3 of the Merger Agreement, and the
Agreement shall be deemed to be amended to remove such section from the Merger
Agreement.
2
IN WITNESS WHEREOF, the undersigned have executed this Agreement on the
day and year first set forth above.
REGAL CINEMAS, INC.
By:
--------------------------------
Title:
-----------------------------
REGAL ACQUISITION CORPORATION
By:
--------------------------------
Title:
-----------------------------
RAC CORPORATION
By:
--------------------------------
Title:
-----------------------------
RAC FINANCE CORP.
By:
--------------------------------
Title:
-----------------------------
XXXX THEATRES, L.L.C.
By:
--------------------------------
Title:
-----------------------------
3
X.X. XXXX, INC.
By:
--------------------------------
Title:
-----------------------------
XXXX THEATRES II, INC.
By:
--------------------------------
Title:
-----------------------------
XXXX FINANCE CORP.
By:
--------------------------------
Title:
-----------------------------
TRICOB PARTNERSHIP
By:
--------------------------------
Title:
-----------------------------