Document:

Exhibit 4.1

    

    
      

      

      DESCRIPTION OF THE REGISTRANT’S SECURITIES REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

    

    
      

      

      The following is a description of the common stock (our “Common Stock”) of John Wiley & Sons, Inc. (the “Company,” “we,” “us,” or “our”) registered under Section 12 of the Securities Exchange Act
        of 1934, as amended (the “Exchange Act”). This description is a summary and is qualified in its entirety by reference to our Restated Certificate of Incorporation, as amended (the “Certificate of Incorporation”) and our Amended and Restated By-laws
        (the “By-laws”), each of which are incorporated by reference as exhibits to the Annual Report on Form 10-K of which this Exhibit 4.1 is a part. We encourage you to read our Certificate of Incorporation, our By-laws, and the applicable provisions of
        the New York Business Corporation Law for additional information.

    

    
      

      

      Authorized and Outstanding Capital Stock

      Our authorized capital stock consists of: (i) 180,000,000 shares of Class A Common Stock, par value $1.00 per share (our “Class A Common Stock”), (ii) 72,000,000 shares of Class B Common Stock, par value $1.00 per share
        (our “Class B Common Stock”), and (iii) 2,000,000 shares of Preferred Stock, par value $1.00 per share, issuable in one or more series (our “Preferred Stock”). As of May 31, 2020, 46,767,784 shares of our Class A Common Stock were outstanding,
        9,094,674 shares of our Class B Common Stock were outstanding, and no shares of our Preferred Stock were outstanding.  The Class A Common Stock and Class B Common Stock will hereinafter collectively be referred to as “Common Stock.”

      

      

      Common Stock

      The shares of Class A Common Stock and Class B Common Stock are identical in all respects, except for voting rights, dividend rights, distribution rights, and certain conversion rights.

      

      

      Voting Rights

      Each share of Class A Common Stock entitles the holder to one-tenth (1/10) of one vote on each matter submitted to a vote of our stockholders and each share of Class B Common Stock entitles the holder to one vote on each
        such matter, including the election of directors. The holders of Class A Common Stock are entitled to elect 30% of the entire Board of Directors and if 30% of the authorized number of directors is not a whole number, the holders of Class A Common
        Stock are entitled to elect the nearest higher whole number of directors that is at least 30% of such membership. The holders of Class B Common Stock are entitled to elect the remaining directors (excluding any directors the holders of Preferred
        Stock may be entitled to elect). There is no cumulative voting.

    

    
      If the number of issued and outstanding shares of Class B Common Stock is less than 300,000 at any time, then the rights, preferences and limitations of the holders of Class A Common Stock and Class B Common Stock will
        thereafter be identical, and such holders will vote as a single class upon all matters.

    

    
      

      

      Dividend Rights

      The holders of our Common Stock are entitled to receive dividends when and as declared by the Board of Directors out of earnings or assets of the Company legally available therefore for distribution to stockholders. 
        Whenever a dividend is paid to holders of Class B Common Stock, the holders of Class A Common Stock will receive a dividend per share at least equal to the dividend per share paid to the holders of Class B Common Stock.  The Company may pay
        dividends to holders of Class A Common Stock in excess of dividends paid, or without paying dividends to, holders of Class B Common Stock.

      

      

      
        
          

          

          

          

          

          

        

        
          

        

      

    

    
      

      

      Distribution Rights

      If at any time a distribution is to be paid in Class A Common Stock, Class B Common Stock or any other securities of the Company, the same distribution will be made with respect to each share of Class A Common Stock and
        each share of Class B Common Stock, except one or more shares of Class A Common Stock may be distributed to each share of Class A Common Stock outstanding and the same number of shares of Class B Common Stock may be distributed to each share of
        Class B Common stock outstanding.

      

      

      Conversion Rights

      Class A Common Stock has no conversion rights.  Each holder of Class B Common Stock may at any time, in such holder’s sole discretion and option, convert any whole number of Class B Common Stock shares into Class A
        Common Stock on a one-for-one basis.

    

    
      

      

      Preemptive and Other Rights

      The holders of our Common Stock are not entitled to preemptive or other rights to purchase, subscribe for, or take any part of any stock of the Company issued, optioned, or sold by it after the Company’s incorporation.  
        There are no sinking fund provisions.

      

      

      Preferred Stock

    

    
      
        
           Shares of our Preferred Stock may be issued from time to time by authorization of the Board of Directors and without the necessity of
            further action or authorization by our stockholders, in one or more series, and with such relative rights, preferences and limitations, as the Board of Directors may, in its discretion, determine, including, but not limited to: (i) the number
            of shares to constitute such series and the distinctive designation of such series; (ii) the dividend rate for such series and any restrictions, limitation and conditions upon the payment of such dividends; (iii) whether the shares will be
            redeemable and, if so, the terms, conditions, limitations and restrictions to such redemption; (iv) the rights of the shares in the event of a liquidation, dissolution, or winding up of the Company; (v) whether the shares will be subject to the
            operation of a purchase, retirement or sinking fund, and, if so, the terms conditions, limitations and restrictions with respect thereto; (vi) any conversion or exchange rights; and (vii) voting rights, if any, in addition to the voting rights
            provided by law.

        

      

      

      

      Liquidation Rights

      In the event of our liquidation, dissolution or winding up, after the payment of our debts and other liabilities and after satisfaction in full of the liquidation preferences of holders of any Preferred Stock, if any,
        holders of Common Stock are entitled to ratable distribution of the remaining assets available for distribution to stockholders.

      

      

      Anti-Takeover Effects of the Certificate of Incorporation and By-Laws

      Certain provisions in the Company’s Certificate of Incorporation and By-laws described below may have the effect of delaying, deferring or preventing a change of control in the Company:

    

    
      

      

      
        • The Board of Directors is authorized to issue Preferred Stock without stockholder approval;

      

      
        • The Board of Directors may adopt, amend or repeal the By-laws without stockholder approval;

      

      
        • The By-laws specify advanced notice procedures that stockholders must follow in order to bring business at an annual meeting of stockholders; and

      

      
        • Special meeting of stockholders, unless otherwise provided by law, may be called only by (i) the Board of Directors or (ii) the Chairman, and not at the request of any
          other person or persons.Exhibit 10.1

 

Business Operation Agreement

 

This Business Operation Agreement (this
“Agreement”) is entered into in Xi'an, the People’s Republic of China (the “PRC”) on
February 25, 2020, by and among the following Parties:

 

Party A: Xi’an Minglan Management
Co., Ltd. 

Registered address:

 

Party B: Sancaijia Co., Ltd.

Registered address:

 

Party C: Shareholders

Shareholder 1: Ning Wen

Identity Card No.:

 

Shareholder 2: Zhijie Zhang

Identity Card No.:

 

Shareholder 3: Linzhen Tang

Identity Card No.:

 

Shareholder 4: Lizhi He

Identity Card No.:

 

(In this Agreement, the above parties are
hereinafter referred to individually as a “Party” and collectively as the “Parties.”)

 

WHEREAS:

 

(1) 
Party A is a wholly foreign-owned enterprise incorporated and validly existing in accordance with laws of the PRC;

 

(2) Party
B is a limited liability company incorporated and validly existing in accordance with laws of the PRC;

 

(3) Party
A and Party B have established a business relationship by entering into a certain Exclusive Technical Consultation and Service
Agreement, pursuant to which Party B will make various payments to Party A, and therefore Party B’s activities in its ordinary
course of business will have a material effect upon its ability to make such payments to Party A; and

 

(4) Each of
the individuals listed as Party C is a shareholder of Party B (collectively, the “Shareholders”).

 

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NOW, THEREFORE, the Parties, through
amicable negotiations and based on the principle of equality and mutual benefit, hereby agree as follows:

 

Article 1 Negative Obligations

 

In order to guarantee the performance of
Party B in relation to this Agreement and all of Party B’s in relation to its obligations towards Party A, Party B and the
Shareholders hereby acknowledge, agree and jointly and severally warrant that without the prior written consent of Party A or any
party designated by Party A, Party B shall not engage in any transaction which may have a material or adverse effect on any of
its assets, businesses, employees, obligations, rights or operations (except for those occurring in the due course of business
or in day-to-day business operations, or those already disclosed to Party A and with the explicit prior written consent of Party
A), including without limitation:

 

		1.1	Conduct any activity beyond the normal business scope
of Party B or operate the Party B in a manner inconsistent with its past practice;

 

		1.2	Make any borrowing or undertake any indebtedness from
any third party;

 

		1.3	Change or remove any of its directors or senior officers;

 

		1.4	Sell, assign, mortgage or otherwise dispose of any assets
or rights, including without limitation any intellectual property rights, with any third party;

 

		1.5	Create or cause the creation of any guarantee, mortgage,
pledge, lien or any other security on any of its assets, including intellectual property, in favor of any third party, or create
any encumbrance on any such assets;

 

		1.6	Change its articles of association or its scope of business;

 

		1.7	Change its ordinary course of business or materially
alter any of its major internal rules and bylaws;

 

		1.8	Transfer any of its rights or obligations under this
Agreement to any third party;

 

		1.9	Make or cause any material change to its business pattern,
marketing strategy, business plan or customer relationships; and

 

		1.10	Make or cause a distribution of any bonus or dividend
to shareholders of Party B.

 

Article
2 Business Management and Human Resources Arrangement

 

		2.1	Party B and the Shareholders hereby jointly agree to
accept and strictly implement any proposal made by Party A from time to time regarding the employment and removal of Party B’s
employees, its day-to-day business management and the financial management system of Party B.

 

		2.2	Party B and the Shareholders hereby jointly agree that
the Shareholders will elect or appoint, as applicable, any person designated by Party A as Party B’s director, chairman,
president, chief financial officer and any other executive officers in accordance with relevant laws, regulations and Party B’s
articles of association.

 

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		2.3	Upon termination of his or her employment with Party
A, either voluntarily or by Party A, each of the directors or senior officers elected or appointed under Section 2.2 will
be simultaneously disqualified to hold any position in Party B; under such circumstance, the Shareholders shall elect any other
person designated by Party A for such position.

 

		2.4	For purpose of Section 2.3, the Shareholders will
take any actions required under relevant laws and regulations, articles of association and this Agreement to effect the employment
and termination provided under Sections 2.2 and 2.3.

 

		2.5	The Shareholders hereby agree that, in conjunction with
the execution of this Agreement, each of the shareholders will execute an irrevocable power of attorney authorizing Party A to
exercise its rights as the shareholder of Party B and to exercise its voting rights in the name of shareholder at Party B’s
shareholders meeting.

 

Article
3 Other Agreements

 

		3.1	Upon termination or expiration of any agreement between
Party A and Party B, Party A may elect to terminate all of its agreements with Party B, including without limitation the Exclusive
Technical Consultation and Service Agreement.

 

		3.2	Considering the business relationship established between
Party A and Party B based on the executed Exclusive Technical Consultation and Service Agreement, Party B’s activities in
its ordinary course of business will have a material effect upon its ability to make relevant payments to Party A. Each of the
Shareholders agrees that any bonus, dividend or any other benefit or interest receivable by it as the shareholder of Party B will
be unconditionally and automatically paid or transferred to Party A.

 

Article 4 Confidentiality Obligations

 

		4.1	Regardless of whether this Agreement is terminated or
not, each Party shall keep strictly confidential all business secrets, proprietary information, customer information and all other
information of a confidential nature concerning the other Parties known by it during the execution and performance of this Agreement
(collectively, the “Confidential Information”). Unless a prior written consent is obtained from the Party disclosing
the Confidential Information (the “Disclosing Party”) or unless it is required to be disclosed to third parties
in accordance with relevant laws, rules and regulations (including those of the United States Securities and Exchange Commission)
or the requirements of the place where any affiliate is listed on a stock exchange, the Party receiving the Confidential Information
(the “Receiving Party”) shall not disclose to any third party any Confidential Information. The Receiving Party
shall not use any Confidential Information other than for the purpose of performing this Agreement.

 

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		4.2	The following information shall not be deemed part of
the Confidential Information:

 

		(a)	any information that has been lawfully acquired by the
Receiving Party prior to entering into the Agreement as evidenced by other written documents;

 

		(b)	any information entering the public domain not attributable
to the fault of the Party receiving the information; or

 

		(c)	any information lawfully acquired by the Party receiving
the information through other sources after its receipt of such information.

 

		4.3	If requested by either Party, the other Party shall return,
destroy, or otherwise dispose of all documents, materials and software that contains or may contain any Confidential Information
as requested, and promptly stop using such Confidential Information.

 

		4.4	For purposes of performing this Agreement, the Receiving
Party may disclose the Confidential Information to its relevant employees, agents or professionals retained by it. However, the
Receiving Party shall ensure that the aforesaid persons shall comply with all relevant terms and conditions of this Article. In
addition, the Receiving Party shall be responsible for any liability incurred as a result of such persons’ breach of the
relevant terms and conditions of this Article 4.

 

		4.5	The Parties’ obligations under this Article shall
survive the termination of this Agreement. Each Party shall still comply with the confidentiality terms of this Agreement and
fulfill the confidentiality obligations as promised, until the other Parties give consent to the release of such obligations or
as a matter of fact, violation of the confidentiality terms herein will not cause damage of any form to the other Parties.

 

Article 5 Effectiveness, Termination
and Term of this Agreement

 

		5.1	Any written consent, proposal, appointment and any other
decision made in connection with this Agreement which may have a material effect on Party B’s day-to-day business operations
shall be made by Party A’s board of directors.

 

		5.2	This Agreement shall become effective upon execution
by each of the Parties on the date first written above and shall remain valid until it is terminated by written agreement of the
Parties.

 

		5.3	During the term of this Agreement, none of Party B or
the Shareholders may terminate this Agreement. Party A shall have the sole right to terminate this Agreement at any time, provided
that Party A gives prior written notice of thirty (30) days to Party B and the Shareholders. The parties may terminate this Agreement
as they unanimously agree through negotiation.

 

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Article 6
Liability for Breach of Contract

 

		6.1	Either Party’s direct or indirect violation of
any provisions herein, or failure in assuming or untimely or insufficient assumption of, any of its obligations hereunder shall
constitute a breach of contract. The non-defaulting Party (the “Non-Defaulting Party”) is entitled to send
to the defaulting Party (the “Defaulting Party”) a written notice, requesting the Defaulting Party to rectify
its breach, take sufficient, effective and timely measures to eliminate the effects of breach, and compensate the Non-Defaulting
Party for any losses incurred by the breach.

 

		6.2	After the occurrence of breach, and in the event that
such a breach has made it impossible or unfair for the Non-Defaulting Party to perform its corresponding obligations hereunder
based on the Non-Defaulting Party’s reasonable and objective judgments, the Non-Defaulting Party is entitled to send to
the Defaulting Party a written notice of its temporary suspension of performance of corresponding obligations hereunder, until
the Defaulting Party stops the breach, takes sufficient, effective and timely measures to eliminate the effects of breach, and
compensate the Non- Defaulting Party for any losses incurred by the breach.

 

		6.3	The losses of the Non-Defaulting Party that should be
compensated by the Defaulting Party include direct economic losses and any foreseeable indirect losses and extra expenses incurred
by the breach, including without limitation, attorney’s fees, litigation and arbitration fees, financial expenses and travel
charges.

 

Article 7 Force Majeure

 

		7.1	Force Majeure shall mean events beyond the reasonable
control of the Parties that are unforeseeable or foreseeable but unavoidable, which cause obstruction in, impact on or delay in
either Party’s performance of part or all of its obligations in accordance with this Agreement, including without limitation,
government acts, natural disasters, wars, hacker attacks or any other similar events.

 

		7.2	The Party affected by Force Majeure may suspend the performance
of relevant obligations hereunder that cannot be performed due to Force Majeure until the effects of Force Majeure are eliminated,
without having to assume any liability for breach of contract, provided however that such Party shall endeavor to overcome such
events and reduce the negative effects to the best of its abilities.

 

		7.3	The Party affected by Force Majeure shall provide the
other Party with valid certificate documents verifying the occurrence of Force Majeure events, which documents shall be issued
by the notary office where the events occur (or other appropriate agencies). In case the Party affected by Force Majeure cannot
provide such certificate documents, the other Party may request such certificate documents in order to assume the liability for
breach of contract in accordance with this Agreement.

 

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Article
8 Notices

 

		8.1	Any notice, request, demand and other correspondence
required by this Agreement or made in accordance with this Agreement shall be made in written form and delivered to the following
address in person, by fax, telegram, telex, email, registered mail (postage paid) or express mail.

 

To Party
A: Xi’an Minglan Management Co., Ltd.

Address:

Attention:

Email:

 

To Party
B: Sancaijia Co., Ltd.

Address:

Attention:

Email:

 

To Party
C:

Ning Wen

Address:

Email:

Zhijie
Zhang

Address:

Email:

Lizhen
Tang

Address:

Email:

Lizhi He

Address:

Email:

 

		8.2	If any such notice or other correspondence is transmitted
by fax, telegram, telex or email, it shall be treated as delivered immediately upon transmission; if delivered in person, it shall
be treated as delivered at the time of delivery; if delivered by registered mail or express mail, it shall be treated as delivered
three (3) days after posting.

 

Article 9 Miscellaneous

 

		9.1	This Agreement is written in English and translated into
Chinese. In the event of any discrepancy between the two versions, the English version shall prevail. This Agreement is made with
six (6) original copies, of which Party A, Party B and the Shareholders will each hold one copy respectively.

 

		9.2	The execution, validity, performance, revision, interpretation
and termination of this Agreement and the resolution of any dispute arising from this Agreement shall be governed in accordance
with the laws and regulations of the PRC.

 

		9.3	Should any dispute arise in connection with construction
or performance of any provision under this Agreement, the Parties shall seek in good faith to resolve such dispute through negotiations.
If the negotiations fail, any of the Parties may submit the dispute to the China International Economic and Trade Arbitration
Commission (CIETAC) for arbitration in Beijing in accordance with its arbitration rules then in effect, and the language
of arbitration shall be in Chinese. The arbitration judgment shall be final and binding on each of the Parties.

 

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		9.4	None of the rights, powers or remedies granted to any
Party by any provision herein shall preclude any other rights, powers or remedies available to such Party at law and under the
other provisions of this Agreement. In addition, a Party’s exercise of any of its rights, powers and remedies shall not
exclude such Party from exercising any of its other rights, powers and remedies.

 

		9.5	No failure or delay by a Party in exercising any rights,
powers and remedies available to it hereunder or at law (“Such Rights”) shall result in a waiver thereof, nor
shall the waiver of any single or part of Such Rights shall exclude such Party from exercising Such Rights in any other way and
exercising other rights of such Party.

 

		9.6	Each term contained herein shall be severable and independent
from each of the other terms. In case any term herein becomes all or partly invalid or unenforceable due to violation of law or
governmental regulations or other reasons, the affected part of such term shall be considered to have been removed, provided that
the removal of the affected part of such term shall not affect the legal effect of the remaining part of such term or other terms
herein. The Parties shall conclude new terms through consultations to replace such invalid or unenforceable terms.

 

		9.7	The headings in this Agreement are written for ease of
reference only and in no event shall they affect the interpretation of any terms of this Agreement.

 

		9.8	Any amendment or supplement hereto shall be made in writing
and shall become effective only upon due execution by the Parties hereto. Any Amended agreements and supplemental agreements executed
by the Parties will become part of this Agreement, having the same legal effect as this Agreement.

 

		9.9	Matters not covered in this Agreement shall be determined
by the Parties separately through consultation.

 

		9.10	This Agreement constitutes all agreements reached by
the Parties on the subject matter of the cooperation project, and supersedes any previous or concurrent oral and written agreement,
understanding and correspondence relevant to the subject matter of the cooperation project between the Parties. Unless specifically
provided herein, there is no other explicit or implicit obligation or covenant between the Parties.

 

		9.11	Party B or Party C shall not transfer any of its rights
and/or obligations under this Agreement to any third party without prior written consent of Party A. To the extent not in contravention
of the PRC Laws, Party A is entitled to transfer any of its rights and/or obligations under this Agreement to any third party
designated by it without prior notice to or consent of Party B or Party C.

 

		9.12	Party C undertakes that all provisions herein shall remain
legally binding upon it regardless of any future change that may occur to its percent of shareholding in Party B, and that the
provisions herein shall apply to all stock equity that Party C may hold in Party B, unless the percent of shareholding in Party
B of Party C becomes null.

 

		9.13	This Agreement shall be binding on the legal successors
or assigns of the Parties.

 

[The remainder of this page is intentionally
left blank]

 

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[Signature Page of Business Operation
Agreement]

 

IN WITNESS WHEREOF, the Parties
have caused this Agreement to be duly executed by their duly authorized representatives on the date first written above. 

 

Party A: Xi’an Minglan Management
Co., Ltd. (Seal)

 

	Authorized Representative (Signature):	/s/
Ning Wen	 
	 	Name: Ning Wen	 

 

Party B: Sancaijia Co., Ltd. (Seal)

 

	Authorized Representative (Signature):	/s/ Ning Wen	 
	 	Name: Ning Wen	 

 

Party C:

 

	Ning Wen (Signature/Seal):	/s/ Ning Wen	 
	 	 	 
	Zhijie Zhang (Signature/Seal):	/s/ Zhijie Zhang	 
	 	 	 
	Lizhen Tang (Signature/Seal): 	/s/Lizhen Tang	 
	 	 	 
	Lizhi He (Signature/Seal): 	/s/ Lizhi He	 

 

 

 

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