Document:

ccf_Ex_4_1

		
			Exhibit 4.1
		

		
			Description of the Company’s Capital Stock
		

		
			The following is a description of the authorized capital stock of Chase Corporation (the “Company”). This summary is qualified by reference to the actual provisions of the Company’s Articles of Organization, as amended (the “Charter”) and Amended and Restated Bylaws (the “Bylaws”), copies of which have been filed with the Securities and Exchange Commission, and to the provisions of the Massachusetts statutes described herein.
		

		
			Common Stock
		

		
			The Company’s authorized common stock consists of 20,000,000 shares of Common Stock, $0.10 par value per share (the “Common Stock”). The Company’s Common Stock is registered under Section 12(b) of the Securities Exchange Act of 1934, as amended, and is listed for trading on the NYSE American under the trading symbol “CCF”.
		

		
			Holders of the Common Stock are entitled to one vote for each share held on all matters submitted to a vote of shareholders, and do not have cumulative voting rights. Accordingly, shareholders casting a plurality of the votes cast by the shareholders entitled to vote in an election of directors may elect all of the directors standing for election. Holders of Common Stock are entitled to receive ratably such dividends, if any, as may be declared by the Company’s Board of Directors out of funds legally available therefor, subject to any preferential dividend rights of preferred stock that may be issued in the future.
		

		
			Upon the liquidation, dissolution or winding up of the Company, the holders of Common Stock are entitled to receive ratably the net assets of the Company available after the payment of all debts and other liabilities and subject to the prior rights of preferred stock that may be issued in the future. Holders of Common Stock have no preemptive, subscription, redemption or conversion rights. The outstanding shares of Common Stock are fully paid and non-assessable. The rights, preferences and privileges of holders of Common Stock are subject to the rights of the holders of shares of any series of preferred stock which the Company may designate and issue in the future.
		

		
			Preferred Stock
		

		
			The Board of Directors is authorized, subject to any limitations prescribed by law, without further shareholder approval, to issue from time to time up to an aggregate of 100,000 shares of preferred stock, $1.00 par value (“Preferred Stock”), in one or more series. No shares of Preferred Stock are outstanding. Each such series of Preferred Stock shall have such number of shares, designations, preferences, voting powers, qualifications and special or relative rights or privileges as shall be determined by the Company’s Board of Directors, which may include among others, dividend rights, voting rights, redemption and sinking fund provisions, liquidation preferences, conversion rights and preemptive rights.
		

		
			The rights of the holders of Common Stock would be subject to the rights of holders of any Preferred Stock issued in the future.
		

		
			 
		

		
			

		 

		

			 

		

		

		
			Certain Anti-Takeover Provisions of Massachusetts Law and the Charter and Bylaws
		

		
			Some provisions of Massachusetts law and the Company’s Charter and Bylaws also contain provisions that are intended to enhance the likelihood of continuity and stability in the composition of the Board of Directors and which may have the effect of delaying, deferring, discouraging or preventing a takeover or change in control of the Company, unless that takeover or change in control is approved by the Board of Directors.
		

		
			Massachusetts statutory business combination provisions. The Company is subject to Chapter 110F of the Massachusetts General Laws, an anti-takeover law. In general, this statute prohibits a publicly-held Massachusetts corporation from engaging in a “business combination” with an “interested stockholder” for a period of three years after the date of the transaction in which the person becomes an interested stockholder, unless (i) prior to the person becoming an interested stockholder, the board of directors of the corporation approves either the business combination or the transaction which results in the person becoming an interested stockholder, (ii) the interested stockholder acquires 90% of the outstanding voting stock of the corporation (excluding shares held by certain affiliates of the corporation) when it becomes an interested stockholder or (iii) the business combination is approved by both the board of directors and the holders of two-thirds of the outstanding voting stock of the corporation (excluding shares held by the interested stockholder). Generally, an “interested stockholder” is a person who, together with affiliates and associates, owns (or at any time within the prior three years did own) five percent or more of the outstanding voting stock of the corporation. A “business combination” includes a merger, a stock or asset sale, and certain other transactions resulting in a financial benefit to the interested stockholder or resulting in an increase in the proportionate share of any class of stock owned by the interested stockholder.
		

		
			The Company is also subject to Chapter 110D of the Massachusetts General Laws, entitled “Regulation of Control Share Acquisitions.” A control share acquisition occurs when an individual aggregates a number of shares which, when added to shares already owned, would allow the acquiring person to vote any of twenty percent, one third, or fifty percent of the outstanding voting stock of a corporation. Under this statute, shares acquired in this type of transaction, including shares acquired ninety days before or after this type of transaction, would have no voting rights unless a majority of the non-interested stockholders specifically voted to grant the acquiring person voting rights for these shares. Shares owned by officers of the corporation are not permitted to vote at the meeting. The Board of Directors may amend the Company’s Bylaws to exclude the Company from this statute prospectively.
		

		
			Blank check preferred stock. As noted above, the Company’s Charter allows its Board of Directors to issue shares of Preferred Stock without the further approval of the Company’s shareholders. This is sometimes referred to as “blank check” preferred stock. The effects of such issuance, among other things, could include the dilution in the voting power of the Company’s Common Stock if the Preferred Stock has voting rights and the reduction or restriction of the rights of holders of Common Stock to receive a payment in the event of any liquidation, dissolution or winding up of the Company. While conceivably providing flexibility in connection with possible acquisitions and other corporate purposes, in some circumstances, the issuance of Preferred Stock may render more difficult or expensive or tend to discourage a merger, tender offer, or proxy contest, the assumption of control by a holder of a large block of the Company’s
		

		
			
		

		
			

		 

		

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			securities, or the removal of incumbent management. In addition, the Board of Directors could utilize the shares of Preferred Stock in order to adopt a shareholder rights plan, or “poison pill,” which could have the effect of discouraging or delaying a takeover of the Company.
		

		
			Advance notice provisions for shareholder proposals and shareholder nominations of directors. The Company’s Bylaws provide that, for nominations to the Board of Directors or for other business to be properly brought by a shareholder before a meeting of shareholders, the shareholder must first have given timely notice of the proposal in writing to the Company’s corporate secretary. For an annual meeting, a shareholder’s notice generally must be delivered not less than 90 days or more than 120 days prior to the anniversary of the mailing date of the proxy statement for the previous year’s annual meeting. Different deadlines apply if the meeting is not held within 30 days of the anniversary of the prior annual meeting. For special meetings, a shareholder’s notice generally must be delivered not less than 90 days nor more than 120 days before the date of the meeting (or if fewer than 100 days’ advance notice of the meeting is given, 10 days after notice is given or disclosure is made). Detailed requirements as to the form of the notice and information required in the notice are specified in the Bylaws. A shareholder proposal may also be made in compliance with the requirements of Rule 14a-8 under the Securities Exchange Act of 1934, as amended. If it is determined that business was not properly brought before a meeting in accordance with the Company’s Bylaws, such business will not be conducted at the meeting. The Company’s Bylaws may have the effect of precluding the conduct of some business at a shareholders’ meeting if the proper procedures are not followed or may discourage or defer a potential acquirer from conducting a solicitation of proxies to elect its own slate of directors or otherwise attempting to obtain control of the Company.
		

		
			Limitations on shareholder action without a meeting and the ability of shareholders to call a meeting. Although the Company’s Charter and Bylaws allow shareholders to act by written consent, such written consent must be signed by all shareholders entitled to vote on the matter to be approved. This significantly restricts the ability of the Company’s shareholders to act by written consent and essentially provides that the Company’s shareholders may act only at a duly called shareholders’ meeting. In addition, under the Bylaws, special meetings of shareholders of the Company may be called only by the Company’s president, by the Board of Directors or by one or more shareholders holding at least 25% of the shares of stock entitled to vote on the matter.
		

		
			Transfer Agent and Registrar
		

		
			American Stock Transfer & Trust Company, LLC, is the transfer agent and registrar for the Common Stock.
		

		 

		

			3ccf_Ex_10_9_5

		
			CHASE CORPORATION
		

		
			RESTRICTED STOCK AGREEMENT UNDER THE 2013 INCENTIVE PLAN
		

		
			 
		

		
			This Restricted Stock Agreement (the “Agreement”), dated as of       , is by and between Chase Corporation (the “Company”) and                  (the “Restricted Stockholder”).
		

		
			1.         Grant of Award.  Pursuant to the terms of the Chase Corporation 2013 Incentive Plan (the “Plan”), effective as of                         (the “Grant Date”), the Company hereby grants to the Restricted Stockholder an award of                      shares of the Company’s common stock, par value $0.10 per share, subject to the terms and conditions of this Agreement and the Plan.  As more fully described below, the shares granted hereby are subject to forfeiture by the Restricted Stockholder if certain criteria are not satisfied.
		

		
			2.         Restrictions on Stock.  Until the termination of restrictions as provided in Section 3 hereof, the Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered except as provided in this Agreement.  No rights or interests of the Restricted Stockholder under this Agreement or under the Plan may be assigned, encumbered or transferred other than (i) to the extent permitted and in accordance with such procedures adopted by the Administrator from time to time and (ii) by will or the laws of descent and distribution.  The naming of a designated beneficiary will not constitute a transfer.
		

		
			3.         Termination of Restrictions.
		

		
			(a)        Vesting.  The Restricted Stock Award shall vest and become nonforfeitable and all restrictions set forth in Section 3 hereof shall lapse, on             (the “Vest Date”), provided the Restricted Stockholder’s service with the Company has not terminated or ceased on or prior to the Vest Date.
		

		
			(b)        Termination of Service.  If the Restricted Stockholder’s status as an employee, consultant or director of the Company is terminated prior to the Vest Date by reason of the Restricted Stockholder’s retirement, death or disability (as determined by the Administrator or the Company terminating his service without cause, the Restricted Stock Award shall vest, pro-rated on the date service is terminated, and the restrictions on the pro-rated vested shares shall lapse on the date of termination of service.  If the Restricted Stockholder’s status as an employee, consultant or director of the Company is terminated by the Restricted Stockholder or by the Company for cause prior to the Vest Date, the Restricted Stock Award will immediately and irrevocably be forfeited and neither the Restricted Stockholder nor any successors, heirs, assigns, or legal representatives of the Restricted Stockholder shall thereafter have any further rights or interest in such forfeited Restricted Stock or the certificates thereof. For purposes of this subsection (b), service will be considered as continuing uninterrupted during any bona fide leave of absence approved in writing by the Company so long as the Restricted Stockholder’s right to reemployment or survival of his service arrangement with the Company is guaranteed either by statute or by contract.
		

		
			(c)        Acceleration of Vesting upon Change in Control.  Unless otherwise provided for in the vote granting such restricted stock, upon the consummation of a transaction resulting in a Change in Control of the Company prior to the Vest Date, all restrictions remaining on any Restricted Stock shall lapse.
		

		
			
		

		
			

		 

		

		
			4.         Rights as Stockholder.  Upon the issuance of a certificate or certificates representing the Restricted Stock, the Restricted Stockholder shall thereupon be a stockholder and, subject to the provisions of Section 2 hereof, have all the rights of a stockholder with respect to such Restricted Stock, including the right to vote and receive all dividends or other distributions made or paid with respect to such Restricted Stock; provided, however, that such Restricted Stock and any new, additional or different securities the Restricted Stockholder may become entitled to receive with respect to such Restricted Stock by virtue of a stock split, dividend or other change in the corporate or capital structure of the Company shall be subject to the vesting and forfeiture provisions, restrictions on transfer and other restrictions set forth in this Agreement and the Plan.
		

		
			5.         Stock Certificates; Legend.    Certificates for Restricted Stock shall be issued in the Restricted Stockholder’s name and shall be held by the Company until the Restricted Stock shall become vested and all restrictions thereon have lapsed.  The Company shall serve as attorney-in-fact for the Restricted Stockholder during the period during which the Restricted Stock are unvested with full power and authority in the Restricted Stockholder’s name to assign and convey to the Company any Restricted Stock held by the Company for the Restricted Stockholder if the Restricted Stockholder forfeits the shares under the terms of the this Agreement and the Plan.  Certificates representing the Restricted Stock shall bear the following legend:
		

		
			“The Shares represented by this Stock Certificate have been granted as restricted stock under the Chase Corporation 2013 Equity Incentive Plan.  The Shares represented by this Stock Certificate may not be sold, exchanged, assigned, transferred, pledged, hypothecated or otherwise encumbered or disposed of unless the restrictions set forth in the Restricted Share Agreement between the registered holder of these Shares and Chase Corporation shall have lapsed.”
		

		
			Upon the vesting of the Restricted Stock, the Company shall so notify the Secretary of the Company and the Secretary shall obtain from the Company certificates representing all such shares that have vested, which certificates shall not bear any restrictive endorsement making reference to this Agreement, and shall deliver such certificates to the Restricted Stockholder.
		

		
			6.         No Right to Continued Employment.  This Agreement shall not confer upon the Restricted Stockholder any right with respect to continuance of employment by, or service with, the Company, nor shall it interfere in any way with the right of the Company to terminate the Restricted Stockholder’s service at any time and for any reason.
		

		
			7.         Adjustment to Common Stock.  In the event of any stock split, stock dividend, recapitalization, reorganization, merger, consolidation, combination, exchange of shares, liquidation, spin‐off or other similar change in capitalization or event, or any distribution to holders of Common Stock other than a normal cash dividend, the Committee shall make approximate and equitable adjustments in the Restricted Stock corresponding to adjustments made by the Committee in the number and kind of shares which may be issued under the Plan.  Any new, additional or different securities to which the Restricted Stockholder shall be entitled in respect of Restricted Stock by reason of such adjustment shall be deemed to be Restricted Stock and shall be subject to the same terms, conditions and restrictions as the Restricted Stock so adjusted.
		

		
			8.         Withholding Taxes.  The Restricted Stockholder acknowledges that the Company is not responsible for the tax consequences to the Restricted Stockholder of the granting or vesting of the Restricted Stock, and that it is the responsibility of the Restricted Stockholder to consult with the Restricted Stockholder’s personal tax advisor regarding all matters with respect to the tax
		

		
			
		

		
			

		 

		

		
			consequences of the granting and vesting of the Restricted Stock.  The Company shall have the right to deduct from the Restricted Stock or any payment to be made with respect to the Restricted Stock any amount that federal, state, local or foreign tax law required to be withheld with respect to the Restricted Stock or any such payment.  Alternatively, the Company may require that the Restricted Stockholder, prior to or simultaneously with the Company incurring any obligation to withhold any such amount, pay such amount to the Company in cash or in shares of the Company’s Common Stock (including shares of Common Stock retained from the Restricted Share Award creating the tax obligation), which shall be valued at the Fair Market Value of such shares on the date of such payment.  In any case where it is determined that taxes are required to be withheld in connection with the issuance, transfer or delivery of the shares, the Company may reduce the number of shares so issued, transferred or delivered by such number of shares as the Company may deem appropriate to comply with such withholding.  The Company may also impose such conditions on the payment of any withholding obligations as may be required to satisfy applicable regulatory requirements under the Exchange Act.
		

		
			9.         Governing Law.  This Agreement shall be construed and administered in accordance with and governed by the laws of the Commonwealth of Massachusetts (without giving effect to any conflict or choice of laws provisions thereof that would cause the application of the domestic substantive laws of any other jurisdiction).
		

		
			10.       Notice of Election Under Section 83(b). If the Restricted Stockholder makes an election under Section 83(b) of the Internal Revenue Code of 1986, as amended, and the regulations and rulings promulgated thereunder, he will provide a copy thereof to the Company within thirty days of the filing of such election with the Internal Revenue Service.
		

		
			11.       Notices.  Any notice hereunder to the Company shall be addressed to the Company at its principal business office, 295 University Ave.,  Westwood, Massachusetts 02090 and any notice hereunder to the Restricted Stockholder shall be sent to the address reflected on the records of the Company, subject to the right of either party to designate at any time hereafter in writing some other address.
		

		
			12.       Amendment of Agreement.  The Company may amend, modify or terminate this Agreement, provided that the Restricted Stockholder’s consent to such action shall be required unless the Company determines that the action, taking into account any related action, would not materially and adversely affect the Restricted Stockholder.
		

		
			13.       Successors and Assigns; No Third Party Beneficiaries.  Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto.  There are no third party beneficiaries of this Agreement.
		

		
			14.       Entire Agreement.  This Agreement and the Plan constitute the full and entire understanding and agreement of the parties with regard to the Restricted Stock and supersede in their entirety all other prior agreements, whether oral or written, with respect thereto.
		

		
			15.       Severability.  In case any provision of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired thereby, and each provision of this Agreement shall be enforced to the fullest extent permitted by law.
		

		
			
		

		
			

		 

		

		
			16.       Waivers.  Any waiver by the Company of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach of such provision or any other provision hereof.
		

		
			17.       Defined Terms.  Capitalized terms used but not defined in this Agreement will have the meanings specified in the Plan.
		

		
			 
		

		
			IN WITNESS WHEREOF, the parties have executed this Agreement as a sealed instrument.
		

		
			 
		

			
					
						RESTRICTED STOCKHOLDER

					
					
						 

					
					
						CHASE CORPORATION

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						 

					
					
						 

					
					
						By:

					
					
						 

				
	
					
						Signature

					
					
						 

					
					
						Signature

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Name:

					
					
						 

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Address:

					
					
						 

					
					
						 

					
					
						Title:

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