EX-2.2 2 c16644a1exv2w2.htm VOTING AGREEMENT exv2w2
 

EXHIBIT 2.2
Voting Agreement
     This Agreement is entered into as of July 6, 2007 by Stericycle, Inc., a Delaware corporation (“Parent”), TMW Acquisition Corporation, a Texas corporation and wholly-owned subsidiary of Parent (“MergerSub”), and the holders of common stock of MedSolutions, Inc., a Texas corporation (the “Company”), signatory hereto (each, a “Shareholder,” and collectively, the “Shareholders”).
Background:
     A. Each Shareholder is a significant shareholder of the Company. The number of shares of the Company’s common stock, par value $.001 per share (“Company Common Stock”), that each Shareholder owns (the Shareholder’s “Shares”), and the percentage that the Shareholder’s Shares represent of the Company’s issued and outstanding shares of Company Common Stock as of July 6, 2007, are shown opposite the Shareholder’s name on the attached Exhibit A.
     B. Concurrently with the execution of this Agreement, Parent, MergerSub and the Company have entered into an Agreement and Plan of Merger, dated July 6, 2007 (the “Merger Agreement”), pursuant to which Parent will acquire all of the Company’s outstanding capital stock for cash and promissory notes through a reverse subsidiary merger of MergerSub with and into the Company (the “Merger”).
     C. The Company’s board of directors, on the basis of the unanimous recommendation of its Special Committee, has unanimously resolved to recommend that Company’s shareholders approve the Merger Agreement and the consummation of the Merger.
     D. Parent and MergerSub would not have entered into the Merger Agreement without the voting and other assurances provided by the Shareholders in this Agreement.
     E. Each Shareholder will receive substantial direct and indirect benefits from the consummation of the Merger, pursuant to which each share of Company Common Stock will be converted into the right to receive the Merger Consideration.
     Now, therefore, in consideration of their mutual promises, and intending to be legally bound, the parties agree as follows:
     1. Definitions
     Capitalized terms used in this Agreement (including the preceding background paragraphs) without being defined have the same meanings that they have in the Merger Agreement.
     2. Voting
     Each Shareholder agrees that, during the term of this Agreement:

 


 

     (a) the Shareholder shall vote all of the Shareholder’s Shares in favor of the Merger Agreement and the Merger at the Shareholders Meeting and at any adjournment of the meeting; and
     (b) the Shareholder shall not enter into any voting agreement in respect of the Shareholder’s Shares or give any Person a proxy or power of attorney in respect of the Shareholder’s Shares in conflict with or inconsistent with the Shareholder’s obligations under this Agreement.
     3. Transfers
     During the term of this Agreement, the Shareholder shall not sell, transfer or otherwise encumber (“Transfer”) ownership or control of any of the Shareholder’s Shares otherwise than in accordance with the terms of the Merger unless the Shareholder first provides Notice to Parent and MergerSub of the proposed Transfer and delivers to Parent and MergerSub, prior to or concurrently with the proposed Transfer and in form acceptable to Parent and MergerSub, the written agreement of the proposed transferee to be bound by the terms of this Agreement in respect of the Shares transferred.
     4. Term
     This Agreement shall terminate on the first of the following times or events to occur:
     (a) the Effective Time; or
     (b) the termination of the Merger Agreement pursuant to Sections 9.1, 9.2 or 9.3 of the Merger Agreement.
     Upon the termination of this Agreement, all of the Shareholders’ respective obligations under this Agreement shall terminate.
     5. Specific Performance
     If for any reason a Shareholder fails to perform any of the Shareholder’s obligations under this Agreement, Parent and MergerSub shall be entitled, as their sole remedy for the Shareholder’s failure, to specific performance and injunctive relief, without the necessity of posting any bond or other security.
     6. Notices
     All notices and other communications under this Agreement (“Notices”) shall be in writing and sent by certified or registered mail, overnight messenger service, personal delivery or facsimile as follows:
     (a) if to the Company, to:
MedSolutions, Inc.

2


 

12750 Merit Drive
Park Central VII, Suite 770
Dallas, Texas 75251
Attention: Mr. Matthew H. Fleeger
                 President and Chief Executive Officer
Fax: (972) 776-8767
          with a required copy to:
Block & Garden, LLP
12750 Merit Drive
Park Central VII, Suite 770
Dallas Texas 75251
Attention: Mr. Steven R. Block
Fax: (214) 866-0991
     (b) if to Parent or MergerSub, to:
Stericycle, Inc.
21861 North Keith Drive
Lake Forest, Illinois 60045
Attention: Mr. Frank ten Brink
                 Executive Vice President
                    and Chief Financial Officer
Fax: (847) 367-9462
          with a required copy to:
Johnson and Colmar
300 South Wacker Drive
Suite 1000
Chicago, Illinois 60606
Attention: Mr. Michael Bonn
Fax: (312) 922-9283
     Notices sent by certified or registered mail shall be considered to have been given three business days after being deposited in the mail. All Notices sent by overnight courier service, personal delivery or facsimile shall be considered to have been given when actually received by the intended recipient. A party may change his or its address for purposes of this Agreement by Notice in accordance with this Paragraph 6.
     7. Shares
     A Shareholder’s Shares shall be considered to include all shares of Company Common Stock that the Shareholder may acquire after the date of this Agreement by any means.

3


 

     8. No Ownership Rights
     Nothing in this Voting Agreement shall be considered to vest in Parent or MergerSub any direct or indirect ownership or incidence of ownership of any of the Shareholders’ Shares.
     9. Counterparts
     This Agreement may be executed in two or more counterparts, each of which shall be considered an original copy of this Agreement and all of which, when taken together, shall be considered to constitute one and the same agreement.
     10. Governing Law
     This Agreement shall be governed by the Laws of the State of Texas without regard to conflicts of laws principles.
     11. Binding Effect
     This Agreement shall apply to, be binding on and inure to the benefit of parties and their respective heirs, legal representatives, successors and permitted assigns.
     12. Irrevocable Proxy
     Each Shareholder, for consideration received, hereby appoints Mark C. Miller and Frank J.M. ten Brink and each of them as such Shareholder’s proxies, with full power of substitution in each of them, to cast on his or its behalf all votes entitled to be cast by the Shareholder in respect of the Shareholder’s Shares at the Shareholders Meeting, and at any adjournment of the meeting, “For” approval and adoption of the Merger Agreement and the Merger. This proxy is coupled with an interest and is irrevocable until such time as this Agreement terminates in accordance with its terms.

4


 

     In witness, the parties have executed this Agreement.
             
    Stericycle, Inc.    
 
           
 
  By   /s/ Frank J.M. ten Brink    
 
           
 
      Frank J.M. ten Brink    
 
      Executive Vice President    
 
         and Chief Financial Officer    
 
           
    TMW Acquisition Corporation    
 
           
 
  By   /s/ Frank J.M. ten Brink    
 
           
 
      Frank J.M. ten Brink    
 
      Vice President    

 


 

             
    SHAREHOLDER:    
 
           
    Abel-Kerr Investments    
 
 
  By:   /s/ Chris Kerr    
 
           
 
  Name:   Chris Kerr    
 
  Title:   Managing Partner    
 
           
    Number of Shareholder Shares: 700,000    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Brooke P. Altenau    
 
           
 
      Brooke P. Altenau    
 
           
    Number of Shareholder Shares: 250,000    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Matthew M. Altenau    
 
           
 
      Matthew M. Altenau    
 
           
    Number of Shareholder Shares: 250,000    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Mark M. Altenau, M.D.    
 
           
 
      Mark M. Altenau, M.D., as joint tenant    
 
      with right of survivorship    
 
           
 
  By:   /s/ Joan P. Altenau    
 
           
 
      Joan P. Altenau, as joint tenant with    
 
      right of survivorship    
 
           
    Number of Shareholder Shares: 1,357,633    

 


 

             
    SHAREHOLDER:    
 
           
    Dr. Mark M. Altenau, IRA    
 
           
 
  By:   /s/ Dr. Mark M. Altenau IRA    
 
           
    Name: Mark M. Altenau    
    Title: owner/shareholder    
 
           
    Number of Shareholder Shares: 725,826    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Victor Anderson    
 
           
 
      Victor Anderson    
 
    Number of Shareholder Shares: 100,000    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ John C. Clements    
 
           
 
      John C. Clements    
 
           
    Number of Shareholder Shares: 52,895    

 


 

             
    SHAREHOLDER:    
 
           
    Datron Intercontinental Manufacturing    
 
           
 
  By:   /s/ Sal Nuzzo    
 
           
 
  Name:   Sal Nuzzo    
 
  Title:   Trustee    
 
           
 
  By:   /s/ John Artuso    
 
           
 
  Name:   John Artuso    
 
  Title:   Trustee    
 
           
    Number of Shareholder Shares: 476,068    

 


 

             
    SHAREHOLDER:    
 
           
    Dlugensky Family Trust    
 
           
 
  By:   /s/ Edmund L. Dlugensky, Jr.    
 
           
 
  Name:   Edmund L. Dlugensky, Jr.    
 
  Title:   Trustee    
 
           
    Number of Shareholder Shares: 88,800    

 


 

             
    SHAREHOLDER:    
 
           
    Dlugensky Family Trust    
 
           
 
  By:   /s/ Angela R. Dlugensky    
 
           
 
  Name:   Angela R. Dlugensky    
 
  Title:   Trustee    
 
           
    Number of Shareholder Shares: 20,000    

 


 

             
    SHAREHOLDER:    
 
           
    Dlugensky Family Trust    
 
           
 
  By:   /s/ Edmund L. Dlugensky, Jr.    
 
           
 
  Name:   Edmund L. Dlugensky, Jr.    
 
  Title:   Trustee    
 
           
 
  By:   /s/ Angela R. Dlugensky    
 
           
 
  Name:   Angela R. Dlugensky    
 
  Title:   Trustee    
 
           
    Number of Shareholder Shares: 108,407    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Duncan S. Ellsworth, Jr.    
 
           
 
      Duncan S. Ellsworth, Jr.    
 
           
    Number of Shareholder Shares: 151,790    

 


 

             
    SHAREHOLDER:    
 
           
    M-T Trust    
 
           
 
  By:   /s/ Jack Hunter    
 
           
 
  Name:   Jack Hunter    
 
  Title:   Trustee    
 
           
    Number of Shareholder Shares: 42,000    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Rochelle K. Eriksen    
 
           
 
      Rochelle K. Ericksen, as joint tenant with    
 
      right of survivorship    
 
           
    Number of Shareholder Shares: 1,020,000    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Michael R. Guastella    
 
           
 
      Michael R. Guastella    
 
           
    Number of Shareholder Shares: 50,000    

 


 

             
    SHAREHOLDER:    
 
           
    AB-JB Hoek Investments    
 
           
 
  By:   /s/ John Hoek    
 
           
 
  Name:   John Hoek    
 
  Title:   Managing Partner    
 
           
    Number of Shareholder Shares: 180,000    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ John Hoek    
 
           
 
      John Hoek    
 
           
    Number of Shareholder Shares: 80,000    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Margaret L. Hoek    
 
           
 
      Margaret L. Hoek    
 
    Number of Shareholder Shares: 20,000    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Jonathan Howard    
 
           
 
      Johnathan Howard    
 
           
    Number of Shareholder Shares: 250,000    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Samuel T. Hicks    
 
           
 
      Samuel T. Hicks    
 
           
    Number of Shareholder Shares: 76,791    

 


 

             
    SHAREHOLDER:    
 
           
    Charles E. Holmen Trust, UAD Dec. 16, 1997    
 
           
 
  By:   /s/ Charles E. Holmen    
 
           
 
  Name:   Charles E. Holmen    
 
  Title:   Trustee    
 
           
    Number of Shareholder Shares: 446,622    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Don McAffee    
 
           
 
      Don McAffee    
 
           
    Number of Shareholder Shares: 45,291    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Don McAffee    
 
           
 
      Don McAffee    
 
           
 
  By:   /s/ Kathleen M. Garrett    
 
           
 
      Kathleen M. Garrett    
 
           
    Number of Shareholder Shares: 128,577    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Don McAffee    
 
           
 
      Don McAffee on behalf of Dorothy McAfee    
 
           
    Number of Shareholder Shares: 14,456    

 


 

             
    SHAREHOLDER:    
 
           
    Don McAfee, Profit Sharing Plan, DTD August    
 
           
 
  By:   /s/ Don McAfee    
 
           
 
  Name:   Don McAfee    
 
  Title:   Trustee    
 
           
    Number of Shareholder Shares: 37,273    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Kathleen M. Garrett    
 
           
 
      Kathleen M. Garrett (IRA Account)    
 
           
    Number of Shareholder Shares: 10,000    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Mike McCullick    
 
           
 
      Mike McCullick    
 
           
    Number of Shareholder Shares: 63,290    

 


 

             
    SHAREHOLDER:    
 
           
    TMM Trust, FBO Mike McCullick    
 
           
 
  By:   /s/ Terry Miller    
 
           
 
  Name:   Terry Miller    
 
  Title:   Trustee    
 
           
    Number of Shareholder Shares: 231,000    

 


 

             
    SHAREHOLDER:    
 
           
    TMM Trust FBO Terry Miller    
 
           
 
  By:   /s/ Terry Miller    
 
           
 
  Name:   Terry Miller    
 
  Title:   Trustee    
 
           
    Number of Shareholder Shares: 410,000    

 


 

             
    SHAREHOLDER:    
 
           
    Seco Valley Interests, LTD    
 
           
 
  By:   /s/ Mike Miller    
 
           
 
  Name:   Mike Miller    
 
  Title:   Manager    
 
           
    Number of Shareholder Shares: 576,000    

 


 

             
    SHAREHOLDER:    
 
    Med-Con Waste Solutions    
 
           
 
  By:   /s/ Ken Miller    
 
           
 
  Name:   Ken Miller    
 
  Title:   President    
 
           
    Number of Shareholder Shares: 149,000    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Winship B. Moody, Sr.    
 
           
 
      Winship B. Moody, Sr.    
 
           
    Number of Shareholder Shares: 844,162    

 


 

             
    SHAREHOLDER:    
 
           
    Rosene Petitti    
 
           
 
  By:   /s/ Rosene Petitti    
 
           
 
  Name:   Rosene Petitti    
 
           
    Number of Shareholder Shares: 2,500    

 


 

             
    SHAREHOLDER:    
 
           
    Petitti Family Trust    
 
           
 
  By:   /s/ Leonard Petitti    
 
           
 
  Name:   Leonard Petitti    
 
  Title:   Trustee    
 
           
    Number of Shareholder Shares: 35,000    

 


 

             
    SHAREHOLDER:    
 
           
    Leonard Petitti Profit Sharing Plan    
 
           
 
  By:   /s/ Leonard Petitti    
 
           
 
  Name:   Leonard Petitti    
 
  Title:   Trustee    
 
           
    Number of Shareholder Shares: 32,500    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Marvin A. Rinne    
 
           
 
      Marvin A. Rinne    
 
           
    Number of Shareholder Shares: 117,900    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Albert S. Reed, Sr.    
 
           
 
      Albert S. Reed, Sr.    
 
           
    Number of Shareholder Shares: 100,000    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Stephen C. Reynolds    
 
           
 
      Stephen C. Reynolds    
 
           
 
  By:   /s/ Laure-Marie Reynolds    
 
           
 
      Laure-Marie Reynolds    
 
           
    Number of Shareholder Shares: 50,500    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ C. Hunter Richmond    
 
           
 
      C. Hunter Richmond    
 
           
    Number of Shareholder Shares: 77,500    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ C. Hunter Richmond    
 
           
 
      C. Hunter Richmond, as Trustee for the    
 
      benefit of Brandon H. Richmond    
 
           
    Number of Shareholder Shares: 6,250    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ C. Hunter Richmond    
 
           
 
      C. Hunter Richmond, as Trustee for the    
 
      benefit of Kelly A. Richmond    
 
           
    Number of Shareholder Shares: 6,250    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Ralph H. Rinne, M.D.    
 
           
 
      Ralph H. Rinne, M.D.    
 
           
    Number of Shareholder Shares: 141,495    

 


 

             
    SHAREHOLDER:    
 
           
    Richard Stokes    
 
           
 
  By:   /s/ Richard Stokes    
 
           
 
  Name:   Richard Stokes    
 
  Title:   Shareholder    
 
           
    Number of Shareholder Shares: 28,000    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ R. Kent Schwab    
 
           
 
      R. Kent Schwab    
 
           
    Number of Shareholder Shares: 207,000    

 


 

             
    SHAREHOLDER:    
 
           
    Sterling Trust IRA #043791    
 
           
 
  By:   /s/ R. Kent Schwab    
 
           
 
  Name:   R. Kent Schwab    
 
  Title:        
 
           
    Number of Shareholder Shares: 3,000    

 


 

             
    SHAREHOLDER:    
 
           
 
  By:   /s/ Dwight Strouse    
 
           
 
      Dwight Strouse, as joint tenant with right    
 
      of survivorship    
 
           
 
  By:   /s/ Charlotte Strouse    
 
           
 
      Charlotte Strouse, as joint tenant with    
 
      right of survivorship    
 
           
    Number of Shareholder Shares: 166,667    

 


 

             
    SHAREHOLDER:    
 
           
    Tate Investments, LLC    
 
           
 
  By:   /s/ Joe Tate    
 
           
 
  Name:   Joe Tate    
 
  Title:   President    
 
           
    Number of Shareholder Shares: 3,944,880    

 


 

             
    SHAREHOLDER:    
 
           
    Gerald Ulrich    
 
           
 
  By:   /s/ Gerald Ulrich    
 
           
 
  Name:   Gerald Ulrich    
 
           
 
  By:   Gerald Ulrich    
 
           
 
      Printed Name    
 
           
    Number of Shareholder Shares: 64,542    

 


 

Form of Shareholder Signature Page
         
 
  SHAREHOLDER:    
 
       
 
  Matthew H. Fleeger    
 
       
 
  /s/ Matthew H. Fleeger    
 
       
 
       
 
  Number of Shareholder Shares: 499,626    

 


 

Form of Shareholder Signature Page
             
    SHAREHOLDER:    
 
           
    Preston Harris Interests, Inc.    
 
           
 
  By:   /s/ Matthew H. Fleeger    
 
           
 
  Name:   Matthew H. Fleeger    
 
  Title:   President    
 
           
    Number of Shareholder Shares: 670,790    

 


 

EXHIBIT A
         
Shareholders Name   # Shares
Abele-Kerr Investments
    700,000  
AB-JB Hoek Investments
    180,000  
Hoek, John
    80,000  
Hoek, Margaret L.
    20,000  
Altenau, Brooke P.
    250,000  
Altenau, Mark M., M.D., & Joann P. Altenau, JTWROS
    1,357,633  
Altenau, Mark M., M.D., Restated Profit Sharing Plan
    725,826  
Altenau, Matthew M.
    250,000  
Anderson, Victor
    100,000  
Clements, John
    52,895  
Datron Intercontinental Manufacturing
    476,068  
Dlugensky Family Trust, Edmund Jr or Angela R, Trustees
    108,407  
Dlugensky, Angela R., Trustee for Dlugensky Family Trust
    20,000  
Dlugensky, Edmund L. Jr., Trustee for Dlugensky Family Trust
    88,800  
Ellsworth, Duncan S. Jr.
    151,790  
Eriksen, Vivian S. &/or Rochelle K., JTWROS
    1,020,000  
Fleeger, Matthew H.
    499,626  
Garrett, Kathleen M. (IRA account)
    10,000  
Guastella, Michael R.
    50,000  
Hicks, Samuel T.
    76,791  
Holmen, Charles E. Trust, UAD 12/16/97
    446,622  
Howard, Jonathan
    250,000  
McAfee, Don
    45,291  
McAfee, Don & Kathleen M. Garrett
    128,577  
McAfee, Dorothy & Don McAfee
    14,456  
McAfee, Don Profit Sharing Plan, DTD 8/1/93
    37,273  
McCullick, Mike
    63,290  
Med-Con Waste Solutions
    149,000  
Moody, Winship
    844,162  
M-T Trust — Jack Hunter, Trustee
    42,000  
Petitti Family Trust
    35,000  
Petitti, Rosene
    2,500  
Leonard Petitti Profit Sharing Plan
    32,500  
Preston-Harris Interests, Inc.
    670,790  
Reed, Albert S., Sr.
    100,000  
Reynolds, Stephen C & Laure-Marie
    50,500  
Richmond, C. Hunter, Trustee fbo Brandon H. Richmond
    6,250  
Richmond, C. Hunter, Trustee fbo Kelly A. Richmond
    6,250  
Richmond, Hunter
    77,500  
Rinne, Marvin A.
    117,900  
Rinne, Ralph H., M.D.
    141,495  
Schwab, Richard Kent, Sterling Trust IRA #043791
    3,000  
Schwab, R. Kent
    207,000  
Seco Valley Interests, LTD
    576,000  
Stokes, Richard
    28,000  

 


 

         
Shareholders Name   # Shares
Strouse, Dwight &/or Charlotte, JTWROS
    166,667  
Tate Investments, LLC
    3,944,880  
TMM Trust, FBO Mike McCullick
    231,000  
TMM Trust, FBO Terry Miller
    410,000  
Ulrich, Gerald
    64,542  
Total
    15,110,281