Document:

Exhibit

EXHIBIT 4.7

	
		
	 
	David Lindenauer 
Executive Vice President and Treasurer
 
Citizens Financial Group, Inc.
1 Citizens Plaza
Providence, Rhode Island 02903

 
 
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549
 
February 24, 2020

	
		
	Subject:
	Citizens Financial Group, Inc. Annual Report on Form 10-K for the fiscal year ended December 31, 2019 – File No. 001-36636

Dear Sirs:
 
Neither Citizens Financial Group, Inc. (the “Company”) nor any of its consolidated subsidiaries has outstanding any instrument with respect to its long-term debt, other than those filed as an exhibit to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, under which the total amount of securities authorized exceeds 10% of the total assets of the registrant and its subsidiaries on a consolidated basis. In accordance with paragraph (b)(4)(iii) of Item 601 of Regulation S-K (17 CFR Sec. 229.601), the Company hereby agrees to furnish to the Securities and Exchange Commission, upon request, a copy of each instrument that defines the rights of holders of such long term debt not filed or incorporated by reference as an exhibit to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019.
 
 
 
Very truly yours,
 
CITIZENS FINANCIAL GROUP, INC.

	
		
	/s/ David Lindenauer
	 

	David Lindenauer
	 

	Executive Vice President and TreasurerExhibit

EXHIBIT 10.26

March 2019 Amendment
CFG Voluntary Executive Deferred Compensation Plan First Amendment

Effective March 1, 2019, Schedule I to the CFG Voluntary Executive Deferred Compensation Plan Amended and Restated September 1, 2014 (the “Plan”), is hereby amended to read as follows:

SCHEDULE I

EMPLOYERS EFFECTIVE MARCH 1, 2019

The following list represents the Participating Employers, based on the nomenclature and corporate organization of each such employer as of the respective dates each such employer became a Participating Employer.
Citizens Bank of Pennsylvania
Citizens Bank, NA
Citizens Asset Finance, lnc.
CCO Investment Services, Corp.
Citizens Financial Group, Inc.
CSB Investment Corporation
Franklin American Mortgage Company
Clarfeld Financial Advisors, LLC
Bowstring Advisors

Except as amended herein, the Plan is confirmed in all other respects.
Executed this 4th day of March 2019 by and on behalf of Citizens Financial Group, Inc. by its duly authorized officer. 

                        	
	
	Citizens Financial Group, Inc.

	 

	By: /s/ Sal J. Di Liberti

	Sal J. Di Liberti, Head of Benefits

	Date: March 4, 2019Exhibit

EXHIBIT 10.27

December 2019 Amendment

CFG Voluntary Executive Deferred Compensation Plan Second Amendment

Effective for Plan Years beginning on and after January 1, 2020, the CFG Voluntary Executive Deferred Compensation Plan Amended and Restated September 1, 2014 (the "Plan"), is hereby amended to reflect that commission pay shall be an added deferral source for certain eligible Employees.

Definition of Eligible Compensation

Subsection 2.11 of the Plan is hereby amended in its entirety as follows:

"Eligible Compensation" means the amount of a Participant's Total Compensation that is attributable to base salary, annual bonuses and commission pay, if applicable. For avoidance of doubt (i) "annual bonuses" eligible for deferral include only unrestricted cash bonuses; and (ii) "commission pay" eligible for deferral includes only commissions earned and paid after January 1, 2020 from the Home Mortgage Compensation Plans and CSI Sales Compensation Plan.

Commission Pay Deferral Commitment

Subsection 3.2 of the Plan is hereby amended by the addition of the following new subsection (c) at the end thereof:

(c)    Commission Pay Deferral Commitment.  A Participant may elect to defer from 1 percent to 80 percent of his or her commission pay to be paid by the Employer.  The Deferral Commitment for commission pay shall be delivered to the Plan record keeper prior to the beginning of the Plan Year and shall apply only to commissions payable for services to be performed in the next succeeding Plan Year.

Deferral Commitment by a Newly Eligible Participant

Subsection 3.3 of the Plan is hereby amended in its entirety as follows:

The initial Deferral Commitment of a Newly Eligible Participant shall be made by the Participant and delivered to the Committee not later than 30 days after the Employee is advised by the Plan record keeper that he or she is eligible to participant in the Plan (i.e. after his or her first day of eligibility); provided that the Deferral Commitment for this first Plan Year shall apply only to the base salary paid or commission pay paid for services to be performed subsequent to the election.

Except as amended herein, the Plan is confirmed in all other respects.

Executed this 9th day of December, 2019 by and on behalf of Citizens Financial Group, Inc. by its duly authorized officer.

                            	
	
	Citizens Financial Group, Inc.

	 

	By: /s/ Sal J. Di Liberti

	Name: Sal J. Di Liberti, SVP

	Date: 12/9/19Document

Exhibit 4.2

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

As of December 31, 2019, HMS Holdings Corp. (“HMS,” “Company,” “we, “us, and “our”) has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended: our Common Stock.

DESCRIPTION OF COMMON STOCK

The following description of our Common Stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to our Amended and Restated Certificate of Incorporation (as amended and restated from time to time, the “Certificate of Incorporation”) and our Second Amended and Restated Bylaws (as amended and restated from time to time, the “Bylaws”), each of which are incorporated by reference as an exhibit to the Annual Report on Form 10-K to which this description is an exhibit. We encourage you to read our Certificate of Incorporation, our Bylaws and the applicable provisions of the Delaware General Corporation Law (“DGCL”) for additional information.

Authorized Capital Stock 

Our authorized capital stock consists of 175,000,000 shares of common stock, $0.01 par value per share (“Common Stock”), and 5,000,000 shares of preferred stock, $0.01 par value per share (“Preferred Stock”). The shares of Common Stock currently outstanding are fully paid and nonassessable. No shares of Preferred Stock are currently outstanding.

Voting Rights

Holders of shares of the Company’s Common Stock are entitled to one vote per share on all matters to be voted on by such holders, subject to the voting rights of the Preferred Stock then outstanding. Our Common Stock does not have cumulative voting rights. Under our Bylaws, directors elected by stockholders are elected by a majority of votes cast, except that directors are elected by a plurality of the votes cast with respect to certain contested elections. Actions by stockholders to approve amendments to the Certificate of Incorporation or to amend the Bylaws require the affirmative vote of the holders of a majority of the votes which all the stockholders would be entitled to cast in any annual election of directors; provided that no amendment to the director majority vote provision in Section 1.9 of the Bylaws shall be effective unless the amendment receives the approval of the holders of not less than 51% of the outstanding shares of capital stock of the corporation entitled to vote at an election of directors.

Dividend Rights

Subject to any preferential dividend or other rights of any outstanding shares of Preferred Stock, holders of Common Stock are entitled to receive dividends, if any, as and when declared by the Company’s Board of Directors from funds lawfully available for that purpose.

Rights upon Liquidation

Subject to any preferential rights of outstanding shares of any Preferred Stock, holders of Common Stock are entitled to share pro rata in all remaining assets available for distribution to such stockholders after the payment of liabilities in the event of dissolution or liquidation.

Other Rights and Preferences

Our Common Stock has no preemptive or conversion rights, and there are no sinking fund or redemption provisions with respect to such shares of Common Stock. Special meetings of stockholders may be called only by the Board of Directors, the Chairman of the Board or the Chief Executive Officer or at the request of certain holders of at least 30% of the outstanding shares of Common Stock entitled to vote at the meeting. Holders of Common Stock may also act by unanimous written consent in accordance with the provisions of the Certificate of Incorporation and the Bylaws. 

Certain Anti-Takeover Effects

Certain provisions of our Certificate of Incorporation, our Bylaws, and the DGCL, including the provisions described above regarding calling special meetings of stockholders and acting by written consent, could delay or discourage some transactions involving an actual or potential change in control of HMS or its management.

Advance Notice Requirements. Our Bylaws contain advance notice procedures for stockholders seeking to nominate candidates for election as directors or to bring other business before the annual meeting of stockholders and specify certain requirements regarding the form and content of a stockholder’s notice. 

Effect of Preferred Stock. The Company’s Board of Directors is authorized to issue one or more series of Preferred Stock from time to time without further action by holders of our Common Stock and to fix the number of shares, designations, preferences and relative rights, and any qualifications, limitations and restrictions thereof. As a result, our Board of Directors may issue, without stockholder approval, Preferred Stock with voting, dividend, liquidation, or other rights, that could adversely affect the voting power or other rights of holders of our Common Stock.

Vacancies. Subject to the rights of holders of any series of Preferred Stock, any vacancy or newly-created directorship on the Board of Directors may be filled only by vote of a majority of the directors then in office, although less than a quorum, or by a sole remaining director.

Exclusive Forum. Under our Bylaws, unless we consent in writing to the selection of an alternative forum, the sole and exclusive forum for certain actions or proceedings involving HMS shall be the Court of Chancery of the State of Delaware (or, if such court does not have jurisdiction, the Superior Court of the State of Delaware, or if such other court does not have jurisdiction, the United States District Court for the District of Delaware). These certain actions or proceedings include derivative actions, certain actions claiming breach of fiduciary duty, actions involving Delaware Law, our organizational documents or the internal affairs doctrine, and actions asserting an internal corporate claim as defined under Delaware Law.

Business Combinations. We are subject to Section 203 of the DGCL (“Section 203”). In general, Section 203 prohibits a publicly held Delaware corporation from engaging in various “business combination” transactions with any interested stockholder for a period of three years following the time that the person became an interested stockholder, unless:

•prior to such time, either the business combination or transaction which resulted in the person becoming an interested stockholder is approved by the board of directors; 

•upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced (as determined pursuant to Section 203); or

•at or subsequent to the time the interested stockholder became an interested stockholder, the business combination is approved by the board of directors and authorized at an annual or special meeting of stockholders by the affirmative vote of at least two-thirds of the outstanding voting stock that is not owned by the interested stockholder.

Generally, Section 203 defines a “business combination” to include a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder. Subject to certain exceptions, an “interested stockholder” is a person who beneficially owns 15% or more of the outstanding voting stock of the corporation or any person affiliated or associated with the corporation that was the beneficial owner of 15% or more of the outstanding voting stock of the corporation at any time within the three-year period immediately prior to the date of determination, and the affiliates and associates of such person.

Listing

Our Common Stock is listed on the Nasdaq Global Select Market under the trading symbol “HMSY”.

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