Document:

a410exnqsa

 

 

THIS AGREEMENT is dated    LJ...August  2019 and is made BETWEEN:  (1)    HSBC   GROUP    MANAGEMENT     SERVICES    LIMITED  (registered number         9231974), whose registered office is at 8 Canada Square, London E14 5HQ         (the Company); and  (2)    NOEL   PAUL  QUINN   of [***] (the Executive).   IT IS AGREED as follows:  1      Appointment   1.1    The Employment   will begin on the Commencement   Date. The Executive's         continuous employment began on 2 January 1987.   1.2    Subject to clauses 1.5 and 12, the Employment will continue until terminated         by either partygiving  to the other twelve months' notice in writing.   1.3    The Executive shall be employed as Interim Group Chief Executive at Global         Career Band (GCB)  0. The Executive shall report to the Group Chairman or         such other appropriate person as the Company shall designate from time to         time. The  Employment   also  requires the  Executive to  hold  various         directorships and offices within the Group from time to time including in         relation to Hongkong and Shanghai Banking Corporation Limited.   1.4    The  Executive consents  to the  Company   transferring the Executive's         employment  and assigning the provisions of this Agreement to any Group         Company at any time (on the terms and conditions of this Agreement).   1.5    The  Employment  is and  remains  at all times subject to the Executive         successfully completing all Company required and on-going screenings for a         "High Risk Role", given that any abuse of the role poses particular potential         damage to the Group and external stakeholders. Additionally, the Executive is         at all times required to hold the required approvals by the FCA and all other         relevant regulatory bodies in order to be able to carry out his/her duties. In the         event of  any  screening result being considered  unsatisfactory in the         reasonable opinion of the Company and/or where FCA or any other relevant         regulatory approval is withdrawn, the Company has the right to terminate the         Employment  with immediate effect and with no further sums payable to the         Executive beyond any sums  accrued due as at the date of that termination.         The Company's summary termination right in this clause 1.5 shall not apply in         the event that any  required regulatory approval in connection with the         commencement of the Employment   (following any applicable grace period) is         not granted.   2      Remuneration   2.1    The Company will pay the Executive a Base Salary of £1,240,000 per annum         (Base Salary). The Base Salary will be paid less Statutory Deductions and         accrue from day to day  and be payable  in equal monthly instalments in         arrears on or around the 2oth day of each calendar month. Unless notice to        terminate the Employment has been given by either party, the Company will         review the Executive's Base Salary in March of each calendar year, in good         faith, the first such review to take place on or about March 2020. The                                                                        PUBLIC-3 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This Agreement has  been signed on behalf of the Company and executed as a  deed by the Executivethe  day and year firstabove  written.   Executed as a Deed by HSBC GROUP MANAGEMENT SERVICES LIMITED in thepresence       of:   ............................�L----: ...r······    .. Dated: ..... '±.1.�.�_t�'J....... .                                         Dated: ..................................... .    Executed as a Deed by   theEXECUTIVE                               Dated: .........................Lf/  fsl  2.oI  '7.  ..   In the presence of:   ....... :::r.;J�... ?.:  ... k ............... .. Dated: Jtj.r.J..�11.Jt..  Signature of Witness  <V   Wrtness Name: .�.l:'.�1'.....  b:-.:'?_:V..  Witness Address: ... [***]   Witness Occupation: ..... �2./.1..  �.J::�-::....                                                                 PUBLIC-24Exhibit 4.1

 

DESCRIPTION OF REGISTRANT’S SECURITIES

 

The following description of the common
stock, $.01 par value (“Common Stock”) of Enzon Pharmaceuticals, Inc. (“us”, “our”, or the
“Corporation”) is a summary. This summary is not complete and is subject to and qualified in its entirety by reference
to the complete text of our Amended and Restated Certificate of Incorporation, as amended (“Certificate”) and our Second
Amended and Restated By-Laws, as amended (“By-Laws”), each previously filed with the Securities and Exchange Commission
and incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.01 is a part, as well as
to the relevant provisions of the Delaware General Corporation Law (the “DGCL”). Our Common Stock is the only class
of securities of the Corporation registered under Section 12 of the Securities Exchange Act of 1934, as amended.

 

General 

 

The authorized capital stock of the Corporation
consists of: (i) 170,000,000 shares of Common Stock, and (ii) 3,000,000 shares of preferred stock, par value $.01 per share (“Preferred
Stock”).

 

Dividends

 

Holders of Common Stock are entitled to
receive dividends when, as and if declared by our Board of Directors out of funds legally available for their payment, subject
to the rights of holders of any Preferred Stock that may be issued and outstanding and to restrictions contained in agreements
to which the Corporation is a party.

 

Voting Rights

 

Each holder of our Common Stock is entitled
to one vote per share on all matters submitted to a vote of stockholders. Generally, a matter submitted for stockholder action
shall be approved if the votes cast “for” the matter exceed the votes cast “against” such matter, unless
a greater or different vote is required by statute, any applicable law or regulation, the rights of any authorized series of Preferred
Stock, or our Certificate or By-Laws. Other than in a contested election where directors are elected by a plurality vote, a director
nominee shall be elected to the board if the votes cast “for” such nominee’s election exceed the votes cast “against”
such nominee’s election. Subject to any rights of the holders of any series of Preferred Stock pursuant to applicable law
or the certificate of designations creating that series, all voting rights are vested in the holders of shares of our Common Stock.
Holders of shares of our Common Stock do not have cumulative voting rights.

 

Rights Upon Liquidation

 

Upon our liquidation, dissolution or winding
up, the holders of Common Stock are entitled to share ratably in our net assets available after the payment of all debts and other
liabilities, and after the satisfaction of the rights of any outstanding Preferred Stock.

 

     

     

    

 

Other Rights

 

Holders of our Common Stock have no preemptive,
subscription, redemption or conversion rights, nor are they entitled to the benefit of any sinking fund. The outstanding shares
of Common Stock are validly issued, fully paid and non-assessable.

 

Preferred Stock

 

Our Board of Directors is authorized, without
further action by our stockholders, to issue up to 3,000,000 shares of “blank check” Preferred Stock, in one or more
series, and to fix the designations, powers, preferences and the relative, participating, optional or other special rights and
any qualifications, limitations and restrictions of the shares of each series of Preferred Stock. The issuance of Preferred Stock
could have the effect of delaying, deferring or preventing a change in control, as well as decrease the amount of earnings and
assets available for distribution to holders of our Common Stock or otherwise adversely affect their rights and powers, including
voting rights. Of our currently authorized Preferred Stock, 600,000 shares were previously designated as Series B Preferred Stock
in connection with the Corporation’s Rights Plan, which expired on May 16, 2012, and 100,000 shares were previously designated
Series A Junior Participating Preferred Stock in connection with the Corporation’s Section 382 Rights Plan. The rights issued
pursuant to the Section 382 Rights Plan lapsed, unexercised, on April 30, 2017.

 

Other Provisions of Our Certificate and By-Laws and State
Law Provisions That May Have Anti-Takeover Effects

 

Advance Notice Provisions. Our By-Laws
provide that a stockholder must notify us in writing, within timeframes specified in the By-Laws, of any stockholder nomination
of a director and of any other business that the stockholder intends to bring at a meeting of stockholders.

 

Amendments to Bylaws. Our Certificate
and By-Laws provide that our By-Laws may be amended by our Board of Directors or by vote of the holders of the shares entitled
to vote in the election of directors.

 

Changes to Board and Vacancies. Our
By-Laws provide that directors may be removed only for cause by the affirmative vote of the holders of a majority of the shares
then entitled to vote at an election of directors. The By-Laws also provide that the number of directors may be increased or decreased,
within established limits, by affirmative vote of a majority of the whole Board. Under our Certificate, any vacancy on the Board
of Directors, however occurring, including a vacancy resulting from an enlargement of the Board, may only be filled by vote of
a majority of the directors then in office, whether or not a quorum.

 

State Law Provisions. In general,
Section 203 of the DGCL prohibits a Delaware corporation with a class of voting stock listed on a national securities exchange
or held of record by 2,000 or more shareholders from engaging in a business combination with an interested stockholder (generally,
the beneficial owner of 15% or more of the corporation’s outstanding voting stock) for three years following the time the
stockholder became an interested stockholder, unless, prior to that time: (1) the corporation’s board of directors approved
either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder, (2) at
least two-thirds of the outstanding shares not owned by that interested stockholder approve the business combination, or (3) upon
becoming an interested stockholder, that stockholder owned at least 85% of the outstanding shares, excluding those held by officers,
directors and some employee stock plans. A “business combination” includes a merger, asset sale, or other transaction
resulting in a financial benefit, other than proportionately as a stockholder, to the interested stockholder.

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