(1) The agreement, or its draft, at a minimum must set out the following information:
1. the names or the business names and the seats of the legal entities involved in the merger;
2. the agreement as to the transfer of the entire assets of each legal entity being acquired, in return for shares in the acquiring legal entity being allotted, or memberships in same being granted;
3. the share exchange ratio and, if applicable, the amount of the additional cash payment, or information on the membership in the acquiring legal entity;
4. the details regarding the transfer of the shares in the acquiring legal entity, or concerning the acquisition of membership in the acquiring legal entity;
5. the point in time from which said shares or memberships will grant an entitlement to a portion of the net income for the year, as well as all special conditions affecting that entitlement;
6. the point in time from which the actions taken by the legal entity being acquired will be deemed to have been taken for the account of the acquiring legal entity (merger cut-off date);
7. the rights conferred by the acquiring legal entity upon individual holders of shares as well as upon the holders of special privileges, such as shares without voting rights, preferred stock, multiple voting stock, debt securities, and participatory rights, or the measures intended for these persons;
8. each special advantage granted to a member of a representative body, or of a supervisory body, of the legal entities involved in the merger, to a managing shareholder, a partner, an auditor, or a merger auditor;
9. the implications of the merger for the employees and the bodies representing them, as well as the measures intended to be taken in that regard.
(2) If all shares in a legal entity being acquired are held by the acquiring legal entity, then the information regarding the exchange of the shares (subsection (1) nos. 2 to 5) will not be required insofar as such information concerns the absorption of this legal entity.
(3) The agreement, or its draft, is to be forwarded to the competent works councils of the legal entities involved in the merger no later than one month prior to the day on which the respective assembly of the holders of shares in each legal entity involved convenes that is to adopt a resolution in accordance with section 13 (1) regarding the consent to the merger agreement.