It is the modulation limiter transistor, in these radios I think it is Q39. Someone removed it, but soldered it there in case the new owner wanted it re-installed. If you de-solder it, and it has C945 or C945P on it, then it's the modulation limiter transistor.
If you look straight down from where that transistor is soldered, right next to a little yellow "wire", you'll see 3 empty holes where there was something previously soldered there. Most likely the transistor went there originally.
~Cheers~
If it is indeed the modulation limiter then it has all ready been removed.
I would install the limiter and then have a good alignment performed on the radio.
As Exit 13 posted who ever removed it may have just soldered it to that trace so if it was ever to be installed again it can just be un-soldered from the trace and soldered in to the circuit.
Basically take it to a tech and have the limiter put where it belongs and then align the radio using correct test equipment.
Now answer to your ??? you can remove it from where it is, as it is not performing any function at all.
This is helpful, thank you. Now i'm trying to research why would someone want to remove the limiter from my, or any radio. I'll most likely send the radio to a tech and have it put back in and correctly aligned.