Document:

Exhibit

Exhibit 4(c)

Description of Registrant’s Securities

The following summary of City Holding Company’s (hereinafter referred to as “we,” “our,” “us,” the “Company,” and “City Holding) equity securities is based on and qualified by the Company’s Amended Articles of Incorporation (the “Amended Articles of Incorporation”) and Amended Bylaws (“Bylaws”). For a complete description of the terms and provisions of the Company’s equity securities, including its common stock, refer to the Amended Articles of Incorporation and Bylaws, both of which are filed as exhibits to this Annual Report on Form 10-K.

Description of the Company’s Common Stock

General
The Company is incorporated in the State of West Virginia. The rights of our shareholders are generally covered by West Virginia law, our Amended Articles of Incorporation and our Bylaws. The terms of our common stock are therefore subject to West Virginia law, including the West Virginia Business Company Act, the common and constitutional law of West Virginia, and federal law governing bank holding companies.

Board of Directors
The Company’s board of directors is staggered and classified. The Company’s Bylaws provide for three classes of directors as nearly equal in number as possible. The Company’s Bylaws authorize a board of directors of not less than five and not more than twenty-five directors. Each annual meeting consists of electing to hold office for only one class of directors, whose terms expire at the third succeeding annual meeting of shareholders. When the number of directors is changed, any newly-created directorships or any decrease in directorship is apportioned among the classes by the Board of directors to make all classes as nearly equal as possible.

Authorized Capital Stock
The Company’s Amended Articles of Incorporation authorize the issuance of 50,000,000 shares of common stock, par value $2.50 per share. Our authorized capital stock may be increased and altered from time to time in the manner prescribed by West Virginia law and our Articles and Bylaws upon the vote of at least a majority of the shares entitled to vote on the matter.

Voting Rights
Each shareholder has the right to cast one vote for each share of stocked owned by the shareholder in the election of directors, on each matter submitted to a vote of shareholders, and any meeting of stockholders. The holders of common stock have cumulative voting rights for the election of directors as long as written notice of the intention to exercise cumulative voting rights is given to our secretary at least 48 hours before the beginning of the meeting to elect directors. 
The holders of a majority of all shares of capital stock of the Company entitled to vote constitutes a quorum at any meeting and for all purposes, including the election of directors. 

Preemptive, Conversion, and Sinking Fund Rights
Holders of our common stock have no preemptive, conversion, or sinking fund rights.

Dividend Rights
The board of directors may from time to time declare and pay dividends from the surplus or any profits of the Company, and it is in the board of director’s sole discretion to declare such dividends.

Liquidation Rights
In the event of our liquidation, holders of our common stock are entitled to receive pro rata all assets, if any, of the Company that are available for distribution after the payment of creditors and any holders of preferred stock. The rights and privileges of holders of our common stock are subject to any preferences that our board of directors may set for any series of preferred stock that we may issue (discussed hereinafter).

Certain Business Combination Restrictions
West Virginia corporate law does not contain statutory provisions restricting certain business combinations.  Additionally, the Company’s Amended Articles of Incorporation do not contain special provisions relating to business combinations with interested parties.

Redemption Rights
Common stock is not subject to redemption provisions.

Restrictions on Ownership
The Bank Holding Company Act of 1956, as amended (“BHC Act”), generally prohibits any company that is not engaged in banking activities and activities that are permissible for a bank holding company or a financial holding company from acquiring control of City Holding. Control is generally defined as ownership of 25% or more of the voting stock or other exercise of a controlling influence. Under the BHC Act, any existing bank holding company would require the prior approval of the Federal Reserve Board of Directors before acquiring 5% or more of the voting stock of City Holding. In addition, the Change in Bank Control Act of 1978, as amended (“CBC Act”), prohibits a person or group of persons from acquiring “control” of a bank holding company unless the Federal Reserve Board of Directors has been notified and has not objected to the transaction. Under a rebuttable presumption established by the Federal Reserve Board of Directors, the acquisition of 10% or more of a class of voting stock of a bank holding company with a class of securities registered under Section 12 of the Exchange Act, such as City Holding, would, under the circumstances set forth in the presumption, constitute acquisition of control of the bank holding company and require notification and non-objection by the Federal Reserve Board of Directors.

Certain Provisions of Our Amended Articles of Incorporation and Bylaws

Advance Notice for Shareholder Proposals and Director Nominations
Our Bylaws contain provisions requiring that timely advance notice be delivered to the Company of any director nominations or other business to be properly brought at an annual meeting by a shareholder. Generally, to be timely, a shareholder’s notice must be delivered to the Company’s secretary not less than 120 calendar days prior to the first anniversary of the previous year’s annual meeting. If no annual meeting was held in the previous year or the date of the annual meeting was changed by more than 30 days from the anniversary date of the previous year’s annual meeting, notice by the shareholder must be so received not later than 120 calendar days prior to such annual meeting or 10 calendar days following the date on which public announcement of the date of the meeting is first made. These requirements are in addition to those set forth in the regulations adopted by the SEC under the Exchange Act.

Special Meetings of the Shareholders
Our Bylaws provide that special meetings of the shareholders may be called at any time by the board of directors or by the president and secretary, or by three or more shareholders holding together not less than ten percent of the capital stock of the Company. Only such business brought pursuant to the Company’s notice of meeting is to be conducted at such meeting. If directors are to be elected at a special meeting, nominations of persons for election to the board of directors may be made at such special meeting of shareholders by either the board of directors or by any shareholder entitled to vote at the meeting who complies with notice procedures and who is shareholder of record at the time such notice is delivered to the secretary. Generally, nominations by shareholders of persons for election to the board of directors may be made so long as notice is delivered to the secretary of the Company not later than 150 calendar days prior to such special meeting, or 10 calendar days following the date on which public announcement of the date of the special meeting and of the nominees to be elected as such meeting is first made.

Amendment of Articles of Incorporation and Bylaws
Under West Virginia law, amending the Company’s Amended Articles of Incorporation requires adoption by the board of directors and the affirmative vote of a majority of the votes of shareholders present at a meeting with quorum. If any class or series of shares is entitled to vote as a separate group on the amendment, the affirmative vote of a majority of the votes of shareholders in the separate voting group present at a meeting with quorum is also required. West Virginia law provides that a corporation can require a greater number of affirmative shareholder votes to amend the Amended Articles of Incorporation; the Company’s Amended Articles of Incorporation do not require a greater vote. Under certain circumstances, the board of directors can amend the Amended Articles of Incorporation without shareholder approval.
 
The Company’s Bylaws may be amended by a majority vote of the shareholders or board of directors.

Potential Anti-Takeover Effect
Certain provisions of our Bylaws and Amended Articles of Incorporation could make the acquisition of control of our company more difficult, including those that provide as follows:

		
	•
	Our Bylaws limit the ability of shareholders to call a special meeting except in compliance with the procedures describe above, which require three or more of our shareholders holding together not less than ten percent of the capital stock of the Company to request a special meeting;

		
	•
	Our board of directors fixes the size of the board of directors, may create new directorships, and may appoint new directors to serve in such newly-created positions until the next election of one or more directors by shareholders; and 

		
	•
	We have advance notice procedures with respect to shareholder proposals and the nomination of candidates for elections as directors.

These provisions are expected to discourage coercive takeover practices and inadequate takeover bids. They are also designed, in part, to encourage persons seeking to acquire control of the Company to first negotiate with our board of directors. We believe that the benefits of increased protection give us the potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us and that these benefits outweigh the disadvantages of discouraging the proposals. Negotiating with the proponent could result in an improvement of the terms of the proposal.Document

Exhibit 4.1

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

The following is a summary of the material terms of the common stock, par value $0.01 per share (“Common Stock”), of Veritiv Corporation (the “Company”), which is the only security of the Company registered pursuant to Section 12 of the Securities Exchange Act of 1934.  This summary does not purport to be complete and is subject to and qualified in its entirety by reference to the applicable provisions of the General Corporation Law of the State of Delaware (the “DGCL”), as well as the Company’s Amended and Restated Certificate of Incorporation, as amended (“Charter”), and the Company’s Amended and Restated Bylaws (“Bylaws”), each of which are included as exhibits to the Company’s Annual Report on Form 10-K and incorporated by reference herein.
General
The Company’s authorized Common Stock consists of 100,000,000 shares. 
Holders of shares of Common Stock are entitled:
•to cast one vote for each share held of record on all matters submitted to a vote of the holders of Common Stock;
•to participate equally in all dividends, if any, that the board of directors may declare in its discretion with respect to the Common Stock out of legally available funds, subject to the rights and preferences of the holders of preferred stock, if any; and
•to share equally, subject to any rights and preferences that may be applicable to the preferred stock, in any distribution of the assets of the Company, including distributions in the event of any liquidation, dissolution or winding up of the affairs of the Company.
The holders of shares of Common Stock do not have any preemptive, cumulative voting, subscription, conversion, redemption or sinking fund rights.  The Common Stock is not subject to future calls or assessments by the Company.  The rights and privileges of holders of the Common Stock are subject to any series of preferred stock that the Company may issue in the future.
Annual Meeting of Stockholders

The Bylaws provide that annual meetings of stockholders will be held at a date, time and place, if any, as exclusively selected by the Company’s board of directors. To the extent permitted under applicable law, the Company may conduct meetings by remote communications, including by webcast.

1

Voting 
    The affirmative vote of a majority of the shares of the Common Stock present, in person or by proxy, at any annual or special meeting of stockholders and entitled to vote will decide all matters voted on by stockholders, unless the question is one upon which, by express provision of law, under the Charter or Bylaws, a different vote is required, in which case such provision will control. 
Anti-Takeover Effects of the Charter and Bylaws and of the DGCL
The provisions of the Company’s Charter and Bylaws and of the DGCL summarized below may have an anti-takeover effect and may delay, defer or prevent a tender offer or takeover attempt involving the Company. These provisions are also designed, in part, to encourage persons seeking to acquire control of the Company to first negotiate with the Company’s board of directors, which could result in an improvement of their terms.
Special Meetings of Stockholders.  The Charter provides that, subject to the requirements of applicable law and any special rights of holders of preferred stock, a special meeting of stockholders may be called only by (i) the chairman of the Company’s board of directors, (ii) a resolution adopted by a majority of the board of directors then in office or (iii) the holders of no less than 20% of the outstanding shares of the Company’s capital stock entitled to vote generally in the election of directors (the “Voting Stock”).
Stockholder Action by Written Consent.  The Charter provides that any action that may be taken at any meeting of stockholders may be taken by written consent of stockholders in lieu of a meeting if a consent in writing is (i) initiated by the holders of no less than 20% of Voting Stock, (ii) signed by the holders having not less than the minimum number of votes necessary to authorize or take such action at a meeting at which all shares of Common Stock entitled to vote were present and voted and (iii) delivered to the Company.
Removal of Directors.  The Charter provides that directors may be removed from office at any time, with or without cause, by an affirmative vote of holders of at least a majority of the Voting Stock.
Stockholder Advance Notice Procedure.  The Bylaws establish an advance notice procedure for stockholders to make nominations of candidates for election as directors or to bring other business before an annual meeting of the stockholders. The Bylaws provide that any stockholders wishing to nominate persons for election as directors at, or bring other business before, an annual meeting must deliver to the Company’s Corporate Secretary a written notice of the stockholder’s intention to do so. These provisions may have the effect of precluding the conduct of certain business at a meeting if the proper procedures are not followed. The Company expects that these provisions may also discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer’s own slate of directors or otherwise attempting to obtain control of the Company. To be timely, the stockholder’s notice must be received by the Corporate Secretary at the Company’s principal executive offices no earlier than 5:00 p.m. Eastern Time on the 120th day, and not later than 5:00 p.m. Eastern Time on the 90th day prior to the first anniversary date on which the Company mailed its proxy materials for preceding 
2

year’s annual meeting; provided, however, that in the event that the annual meeting is set for a date that is more than 30 days before or more than 70 days after the first anniversary date of the preceding year’s annual meeting, or if no annual meeting was held in the preceding year, a stockholder’s notice must be received by the Corporate Secretary (x) not earlier than the 120th day and (y) not later than 5:00 p.m. Eastern Time on the later of the 90th day prior to the date of such annual meeting or the 10th day following the day on which a public announcement of the date of the such meeting is first made by the Company.
Amended and Restated Certificate of Incorporation and Bylaws.  The Charter may be amended by both the affirmative vote of a majority of the Company’s board of directors and the affirmative vote of the holders of a majority of outstanding stock entitled to vote thereon in accordance with the DGCL; provided that specified provisions of Charter may not be amended, altered or repealed, unless in addition to any other vote required by the Charter, the amendment is approved by the affirmative vote of the holders of at least a majority of the outstanding Voting Stock, including the provisions governing:
•the authorized capital stock;
•the number of directors, election of directors, term of office, filing vacancies and newly created directorships and the corporate power and authority of the board of directors; 
•the liability and indemnification of directors;
•stockholder action by written consent and the rights of stockholders to call a special meeting;
•business opportunities;
•interested stockholder transactions;
•required approval for amendments to the Bylaws and certain provisions of the Charter; and 
•exclusive jurisdiction for certain actions. 
In addition, the Charter and Bylaws provide that the Bylaws may be amended, altered or repealed by the affirmative vote of a majority of the board of directors, or by the affirmative vote of the holders of at least a majority of the outstanding Common Stock. 
These provisions make it more difficult for any person to remove or amend any provisions in the Charter and Bylaws that may have an anti-takeover effect. 
Section 203 of the DGCL.  In the Charter, the Company has elected not to be governed by Section 203 of the DGCL, as permitted under and pursuant to subsection (b)(3) of Section 203. Section 203 prohibits a publicly held Delaware corporation from engaging in a business combination, such as a merger, with a person or group owning 15% or more of the corporation’s outstanding voting stock for a period of three years following the date the person became an interested stockholder unless (with certain exceptions) the business combination or 
3

the transaction in which the person became an interested stockholder is approved in a prescribed manner. Accordingly, the Company is not subject to any anti-takeover effects of Section 203. 
Interested Stockholder Transactions.  The Charter provides that the Company will not engage in a business combination with any interested stockholder for a period of three years following the time that such stockholder became an interested stockholder unless:
•prior to such time, the board of directors approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder; 
•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 outstanding at the time the transaction commenced, excluding for purposes of determining the Voting Stock outstanding, but not the outstanding Voting Stock owned by the interested stockholder, those shares owned (i) by persons who are directors and also officers of the Company and (ii) employee stock plans of the Company in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or 
•at or subsequent to such time, the business combination is approved by the board of directors and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 662/3% of the outstanding Voting Stock that is not owned by the interested stockholder. 
The Charter defines “business combination” to include the following:
•any merger or consolidation of the Company or any direct or indirect majority-owned subsidiary with the interested stockholder; 
•any sale, lease, exchange, mortgage, pledge, transfer or other disposition involving the interested stockholder of 10% or more of either the aggregate market value of the assets of the Company or the aggregate market value of all of the Company’s outstanding capital stock; 
•subject to specified exceptions, any transaction that results in the issuance or transfer by the Company or any direct or indirect majority-owned subsidiary of any stock of the Company or such subsidiary to the interested stockholder; 
•any transaction involving the Company or any direct or indirect majority-owned subsidiary that has the effect of increasing the proportionate share of the stock of any class or series of the Company or such subsidiary beneficially owned by the interested stockholder; or 
4

•any receipt by the interested stockholder of the benefit (except proportionately as a stockholder) of any loans, advances, guarantees, pledges or other financial benefits provided by or through the Company or any direct or indirect majority-owned subsidiary. 
The Charter defines an “interested stockholder” as any entity or person who, together with affiliates and associates, owns, or within the previous three years owned, 15% or more of the outstanding Voting Sock. Bain Capital Fund VII, L.P., Georgia-Pacific LLC or any of their respective affiliates or associates, including any investment funds managed by the investment advisor to Bain Capital Fund VII, L.P., or any person whose ownership of shares in excess of the 15% limitation is the result of action taken solely by the Company is not considered an interested stockholder, unless such person acquires additional shares of Voting Stock. 
Business Opportunities. The Charter provides that the Company, on its own behalf and on behalf of its subsidiaries, renounce any interest or expectancy in, or in being offered an opportunity to participate in, business opportunities, that are from time to time presented to UWW Holdings, LLC or Bain Capital Fund VII, L.P. or any of their respective officers, directors, members, partners, employees or affiliates (other than the Company and its subsidiaries), even if the opportunity is one that the Company or its subsidiaries might reasonably be deemed to have pursued or had the ability or desire to pursue if granted the opportunity to do so. Neither UWW Holdings, LLC, Bain Capital Fund VII, L.P. nor their respective officers, directors, members, partners, employees or affiliates will generally be liable to the Company or any of its subsidiaries for breach of any fiduciary or other duty, as a director or otherwise, by reason of the fact that such person pursues or acquires such business opportunity, directs such business opportunity to another person or fails to present such business opportunity, or information regarding such business opportunity, to the Company or its subsidiaries unless, in the case of any such person who is a director, officer, employee or agent of the Company, such business opportunity is presented or offered to such director, officer, employee or agent in his or her capacity as a director, officer, employee or agent of the Company. 
Limitations on Liability and Indemnification
The Charter contains provisions permitted under the DGCL relating to the liability of directors. These provisions eliminate a director’s personal liability for monetary damages resulting from a breach of fiduciary duty, except in circumstances involving:
•any breach of the director’s duty of loyalty;
•acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of the law;
•under Section 174 of the DGCL (unlawful dividends); or
•any transaction from which the director derives an improper personal benefit.
         The principal effect of the limitation on liability provision is that a stockholder will be unable to prosecute an action for monetary damages against a director unless the stockholder can demonstrate a basis for liability for which indemnification is not available under the DGCL. These provisions, however, should not limit or eliminate the Company’s rights or any stockholder’s rights to seek non-monetary relief, such as an injunction or rescission, in the event of a breach of director’s fiduciary duty. These provisions do not alter a director’s liability under 
5

federal securities laws. The inclusion of this provision in the Charter may discourage or deter stockholders or management from bringing a lawsuit against directors for a breach of their fiduciary duties, even though such an action, if successful, might otherwise have benefited the Company and its stockholders.
         The Charter requires the Company to indemnify and advance expenses to its directors and officers to the fullest extent not prohibited by the DGCL and other applicable law, except in the case of a proceeding instituted by the director without the approval of the Company’s board of directors. The Charter provides that the Company is required to indemnify its directors and executive officers, to the fullest extent permitted by law, for all judgments, fines, settlements, legal fees and other expenses incurred in connection with pending or threatened legal proceedings because of the director’s or officer’s positions with the Company or another entity that the director or officer serves as a director or officer at the Company’s request, subject to various conditions, and to advance funds to the Company’s directors and officers to enable them to defend against such proceedings.
        The Company has entered into an indemnification agreement with each of its directors. The indemnification agreements provide the Company’s directors with contractual rights to the indemnification and expense advancement rights provided under the Charter, as well as contractual rights to additional indemnification as provided in the indemnification agreement.
Choice of Forum 
The Charter provides that the Court of Chancery of the State of Delaware is the exclusive forum for (i) any derivative action or proceeding brought on behalf of the Company, (ii) any action asserting a claim of breach of a fiduciary duty owed to the Company or the Company’s stockholders by any of the Company's directors, officers or employees, (iii) any action asserting a claim against the Company arising under the DGCL or (iv) any action asserting a claim against the Company that is governed by the internal affairs doctrine. The Company may consent in writing to alternative forums. 
Market Listing 
Shares of the Company’s Common Stock are listed on the New York Stock Exchange under the symbol “VRTV.” 
Transfer Agent and Registrar
The transfer agent and registrar for the Common Stock is Computershare Inc.
6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00305-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00305-of-00352.parquet"}]]