Document:

Exhibit 4.1

 

THIRD AMENDMENT TO THE

 

SECTION 382 RIGHTS AGREEMENT

 

by and among

 

CENTRUS ENERGY CORP.,

 

COMPUTERSHARE TRUST COMPANY, N.A.

 

and

 

COMPUTERSHARE INC.

 

THIS
THIRD AMENDMENT TO THE SECTION 382 RIGHTS AGREEMENT (this “Third Amendment”) is made and entered into as of April
13, 2020, by and among Centrus
Energy Corp., a Delaware corporation (the “Company”), Computershare Trust Company, N.A. and Computershare Inc. (together,
the “Rights Agent”). 

 

WHEREAS, the
Company and the Rights Agent entered into a Section 382 Rights Agreement dated as of April 6, 2016, which was subsequently amended
pursuant to (i) a First Amendment to the Section 382 Rights Agreement dated as of February 14, 2017 and (ii) a Second Amendment
to the Section 382 Rights Agreement dated as of April 3, 2019 (as amended, the “Agreement”);

 

WHEREAS, Section
26 of the Agreement provides, among other things, that, prior to the Distribution Date (as defined in the Agreement) the Company
and the Rights Agent may from time to time supplement or amend the Agreement in any respect without the approval of any holders
of Rights (as defined in the Agreement);

 

WHEREAS, no
Distribution Date has occurred on or prior to the date hereof;

 

WHEREAS, the
Board of Directors of the Company (the “Board”) has determined it is in the best interests of the Company and its stockholders
to amend the Agreement as set forth herein; and

 

WHEREAS, the
Board has authorized and approved this Third Amendment.

 

NOW, THEREFORE,
for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company hereby agrees to
amend the Agreement as follows and directors the Rights Agent to execute this Third Amendment.

 

1.                 
Definition of Final Expiration Date. The definition of Final Expiration Date set forth in Section 1
of the Agreement is hereby deleted and replaced with the following:

 

““Final
Expiration Date” shall mean the Close of Business on June 30, 2021.”

 

2.                 
Summary of Rights. The sixth paragraph of the Summary of Rights set forth in Exhibit C to the Agreement
is hereby deleted and replaced with the following:

 

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“The Rights
are not exercisable until the Distribution Date and will expire upon the earliest of (i) the close of business on June 30, 2021,
(ii) the Redemption Date, (iii) the close of business on the effective date of the repeal of Section 382 or any successor statute
if the Board determines that the Rights Agreement is no longer necessary or desirable for the preservation of NOLs or other Tax
Benefits, or (iv) the close of business on the first day of a taxable year of the Company to which the Board determines that no
NOLs or other Tax Benefits may be carried forward (the earliest of the events described in clauses (i), (iii) or (iv) being herein
referred to as the “Expiration Date”).”

 

3.                 
Certification of Compliance. The undersigned representative of the Company hereby certifies that he is the
duly elected and qualified Senior Vice President, Chief Financial Officer, Chief Administrative Officer and Treasurer of the Company
and that this Third Amendment to the Agreement is in compliance with the terms of Section 26 of the Agreement.

 

4.                 
Miscellaneous. This Third Amendment is effective as of the date first set forth above. Capitalized terms used
but not defined herein shall have the respective meanings ascribed to such terms in the Agreement. This Third Amendment may be
executed in any number of counterparts; each such counterpart shall for all purposes be deemed to be an original; and all such
counterparts shall together constitute but one and the same instrument. A signature to this Third Amendment executed and/or transmitted
electronically shall have the same authority, effect and enforceability as an original signature. Except as modified hereby, the
Agreement is reaffirmed in all respects, and all references therein to “the Agreement” shall mean the Agreement, as
modified hereby.

 

*****

 

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IN WITNESS WHEREOF, the parties hereto
have caused this Third Amendment to be duly executed as of the date first written above.

 

	 	CENTRUS ENERGY CORP.
	 	 	 
	 	 	 
	 	By:	/s/ Philip O. Strawbridge 
	 	Name:	Philip O. Strawbridge
	 	Title:	Senior Vice President, Chief Financial Officer, Chief Administrative Officer and Treasurer
	 	 	 
	 	 	 
	 	COMPUTERSHARE TRUST COMPANY, N.A.
	 	 	 
	 	 	 
	 	By:	/s/ Patrick Hayes
	 	Name:	Patrick Hayes
	 	Title:	Vice President and Manager
	 	 	 
	 	 	 
	 	COMPUTERSHARE INC.
	 	 	 
	 	 	 
	 	By:	/s/ Patrick Hayes 
	 	Name:	Patrick Hayes
	 	Title:	Vice President and Manager

 

    3Exhibit 10.1

 

VOTING AND NOMINATION AGREEMENT

 

This Voting and Nomination
Agreement, effective as of April 13, 2020 (this “Agreement”), is by and among the persons and entities listed on Schedule
A hereto (collectively, the “MB Group”, and individually a “member” of the MB Group) and Centrus Energy
Corp. (the “Company”). In consideration of and reliance upon the mutual covenants and agreements contained herein,
and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:

 

1.       Board
Representation. The Company agrees:

 

(a)       to
include the designee of the MB Group, Michael O’Shaughnessy, in the Company’s slate of nominees for election as directors
of the Company at the Company’s 2020 annual meeting of stockholders, which is currently scheduled to be held on June 17,
2020, or at any adjournments or postponements thereof (the “2020 Annual Meeting”); and

 

(b)       to
use commercially reasonable efforts to cause the election of Michael O’Shaughnessy to the Company’s board of directors
(the “Board”) at the 2020 Annual Meeting (including recommending that the Company’s stockholders vote in favor
of the election of Michael O’Shaughnessy, including Michael O’Shaughnessy in the Company’s proxy statement for
the 2020 Annual Meeting and otherwise supporting Michael O’Shaughnessy for election in a manner no less rigorous or favorable
than the manner in which the Company supports its other nominees in the aggregate).

 

2.       Agreements
of MB Group. Each member of the MB Group shall (i) cause, in the case of all Common Stock (as defined below) owned of record,
and (ii) instruct the record owner, in the case of all shares of Common Stock of which MB Group is a Beneficial Owner (as defined
below) but not owned of record, directly or indirectly, by it, or by any MB Affiliate (as defined below), as of the applicable
record date, in each case entitled to vote, as follows:

 

(a)       For
the 2020 Annual Meeting:

 

(i)       to
be present for quorum purposes; and

 

(ii)       
to be voted, at the 2020 Annual Meeting as follows:

 

A.       for
all directors nominated by the Board for election at the 2020 Annual Meeting,

 

B.       in
accordance with the recommendation of the Board for the approval of the Section 382 Rights Agreement,

 

C.       in
accordance with the recommendation of the Board for an advisory vote with respect to executive compensation,

 

D.       in
accordance with the recommendation of the Board for the ratification of the appointment of PricewaterhouseCoopers LLP as the Company’s
independent auditors for 2020, and

 

     

     

    

 

E.       for
any Company proposed adjournments thereof.

 

(b)       For
the Company’s 2021 annual meeting of stockholders, or at any adjournments or postponements thereof (the “2021 Annual
Meeting”):

 

(i)       to
be present for quorum purposes; and

 

(ii)       to
be voted, at the 2021 Annual Meeting as follows:

 

A.       for
all directors nominated by the Board for election at the 2021 Annual Meeting, provided Michael O’Shaughnessy is included
in the slate of directors nominated by the Board for election at the 2021 Annual Meeting; provided, however, if Michael O’Shaughnessy
withdraws from the Board or is unable to, refuses to, or otherwise does not consent to be nominated to serve on the Board in connection
with the election at the 2021 Annual Meeting at any time prior to the filing of the Company’s proxy statement for the 2021
Annual Meeting, the MB Group shall be permitted to designate a replacement prior to the filing of the Company’s proxy statement
for the 2021 Annual Meeting, subject to such replacement being acceptable to, or approved by, the Company, such acceptance or approval
not to be unreasonably withheld or delayed; and in any event, the MB Group shall remain obligated to cause all Common Stock shares
(a) owned of record or (b) of which MB Group is a Beneficial Owner (as defined below) to be present for quorum purposes and to
be voted for all directors nominated by the Board for election at the 2021 Annual Meeting, and

 

B.       for
any Company proposed adjournments thereof.

 

3.       Public
Announcements. No earlier than 8:30 a.m., New York City time, on the first trading day after the date hereof, the Company shall
announce this Agreement and the material terms hereof by means of a press release reasonably satisfactory to the parties (in the
form so released, the “Press Release”) and file the Press Release with the Securities and Exchange Commission as an
exhibit to a Current Report on Form 8-K. Neither the Company nor the MB Group shall make any public announcement or statement that
is inconsistent with or contrary to the statements made in the Press Release and Form 8-K, except as required by law or the rules
of any stock exchange or with the prior written consent of the other party. The Company acknowledges that the MB Group will comply
with its obligations under Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and
intends to file this Agreement as an exhibit to its Schedule 13D.

 

4.       Representations
and Warranties of All Parties. Each of the parties represents and warrants to the other party that:

 

(a)       Such
party has all requisite company power and authority to execute and deliver this Agreement and to perform its obligations hereunder;
and

 

(b)       This
Agreement has been duly and validly authorized, executed and delivered by it and is a valid and binding obligation of such party,
enforceable against such party in accordance with its terms; and this Agreement will not result in a violation of any terms or
conditions of any agreements to which such person is a party or by which such party may otherwise be bound or of any law, rule,
license, regulation, judgment, order or decree governing or affecting such party.

 

    2 

     

    

 

5.       Representations
and Warranties of MB Group. Each member of the MB Group jointly represents and warrants that, as of the date of this Agreement,
(i) they are collectively the Beneficial Owners of an aggregate of 1,590,000 shares of Common Stock (as defined below) and (ii)
except for such ownership, no member of the MB Group, individually or in the aggregate with all other members of the MB Group and
all controlled affiliates of the members of the MB Group (such controlled affiliates, collectively and individually, the “MB
Affiliates”), is the Beneficial Owner of, and/or has economic exposure to, Class A common stock, par value $0.10 per share,
of the Company (the “Common Stock”). For purposes of this Agreement, “Beneficial Owner” shall have the
meaning ascribed to it in Rule 13d-3 under the Exchange Act.

 

6.       Miscellaneous.
The parties hereto recognize and agree that if for any reason any of the provisions of this Agreement are not performed in accordance
with their specific terms or are otherwise breached, immediate and irreparable harm or injury would be caused for which money damages
would not be an adequate remedy. Accordingly, each party agrees that in addition to other remedies the other party shall be entitled
to at law or equity, the other party shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and
to enforce specifically the terms and provisions of this Agreement exclusively in the Court of Chancery or other federal or state
courts of the State of Delaware. In the event that any action shall be brought in equity to enforce the provisions of this Agreement,
no party shall allege, and each party hereby waives the defense, that there is an adequate remedy at law. Furthermore, each of
the parties hereto (a) consents to submit itself to the personal jurisdiction of the Court of Chancery or other federal or state
courts of the State of Delaware in the event any dispute arises out of this Agreement or the transactions contemplated by this
Agreement, (b) agrees that it shall not attempt to deny or defeat such personal jurisdiction by motion or other request for leave
from any such court, (c) agrees that it shall not bring any action relating to this Agreement or the transactions contemplated
by this Agreement in any court other than the Court of Chancery or other federal or state courts of the State of Delaware, and
each of the parties irrevocably waives the right to trial by jury, (d) agrees to waive any bonding requirement under any applicable
law, in the case any other party seeks to enforce the terms by way of equitable relief and (e) irrevocably consents to service
of process by a reputable overnight mail delivery service, signature requested, to the address of such party’s principal
place of business or as otherwise provided by applicable law. This agreement shall be governed in all respects, including without
limitation validity, interpretation and effect, by the laws of the state of Delaware applicable to contracts executed and to be
performed wholly within such state without giving effect to the choice of law principles of such state.

 

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7.       No
Waiver. Any waiver by any party of a breach of any provision of this Agreement shall not operate as or be construed to be a
waiver of any other breach of such provision or of any breach of any other provision of this Agreement. The failure of a party
to insist upon strict adherence to any term of this Agreement on one or more occasions shall not be considered a waiver or deprive
that party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement.

 

8.       Entire
Agreement. This Agreement contains the entire understanding of the parties with respect to the subject matter hereof and may
be amended only by an agreement in writing executed by the parties hereto.

 

9.       Severability.
If at any time subsequent to the date hereof, any provision of this Agreement shall be held by any court of competent jurisdiction
to be illegal, void or unenforceable, such provision shall be of no force and effect, but the illegality or unenforceability of
such provision shall have no effect upon the legality or enforceability of any other provision of this Agreement.

 

10.       Counterparts.
This Agreement may be executed in two or more counterparts which together shall constitute a single agreement.

 

11.       Successors
and Assigns. This Agreement shall not be assignable by any of the parties to this Agreement. This Agreement, however, shall
be binding on successors of the parties hereto.

 

12.       No
Third Party Beneficiaries. This Agreement is solely for the benefit of the parties hereto and is not enforceable by any other
persons.

 

[Signature Pages Follow]

 

     

     

    

 

IN WITNESS WHEREOF,
each of the parties hereto has executed this Agreement, or caused the same to be executed by its duly authorized representative
as of the date first above written.

 

	 	
        CENTRUS ENERGY CORP.

         

        /s/ Philip Strawbridge

        By: Philip Strawbridge

        Title: Senior Vice President, Chief Financial Officer, Chief
        Administrative Officer, and Treasurer

 

    [Signature Page to Voting Agreement]

     

    

 

	 	
        MORRIS BAWABEH

         

        /s/ Morris Bawabeh 

	 	 
	 	 
	 	
        KULAYBA LLC

         

        /s/ Morris Bawabeh

        By: Morris Bawabeh

        Title: Sole Member 

	 	 
	 	 
	 	
        M&D BAWABEH FOUNDATION, INC.

         

        /s/ Morris Bawabeh

        By: Morris Bawabeh

        Title: President 

 

    [Signature Page to Voting Agreement]

     

    

 

Schedule A

 

MORRIS BAWABEH

KULAYBA LLC

M&D BAWABEH FOUNDATION, INC.

 

    S-1

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