2002 STOCK OPTION PLAN



 




Exhibit 4.4







COMPAGNIE GÉNÉRALE DE GÉOPHYSIQUE



S T O C K    O P T I O N    P L A N



MAY 15 2002



REGULATIONS



 






 





CONTENTS




	 	 	 	 	 
	I.
	 	The stock option plan
	 
	II.
	 	The price of the option
	 
	III.
	 	Vesting period and exercise period
	 
	IV.
	 	Obligation to keep the stocks
	 
	V.
	 	Conditions of Employment
	 
	VI.
	 	Conditions of exercise
	 
	VII.
	 	Suspension Period
	 
	VIII.
	 	Quotation of the new stocks
	 
	IX.
	 	Order for sale
	 
	X.
	 	Financial advantages of the stock option plan
	 
	 
	 	. gain on the purchase price
	 
	 
	 	. gain on the sale price
	 
	XI.
	 	Taxation of the advantages
	 
	Appendices :
	 	 
	 
	 
	 	Form no. 1 = Exercise of option
	 
	 
	 	Form no. 2 = Subscription form
	 
	 
	 	Form no. 3 = Undertaking
	 
	 
	 	Form no. 4 = Authorization to deduct charges from gross proceeds
	 
	 
	 	Form no. 5 = Sale Order



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I  – Definition of the stock option plan



French Company Law enables French companies to grant to all or part of their
staff the right to subscribe to stock options.


The Extraordinary General Meeting dated May 15, 2002 authorized the Board of
Directors to issue stock options.


The Company took advantage of this possibility to put in place a new plan.


A stock option provides the right, applicable only on request from the
beneficiary, to subscribe to new stocks, which are purchased at a predetermined
price.


The Board of Directors of the Company designated you on May 15, 2002 as a
beneficiary of this plan and you have already received a letter informing you
of the number of stocks offered to you and of the price at which you may
subscribe them.


These regulations detail the various clauses, governing the stock option plan,
as it concerns you.


II – The option price



The price of the option has been determined on the basis of the average opening
rates quoted at the twenty sessions of the Paris Stock Exchange preceding May
15, 2002. After rounding, this amounts to 43,47 Euros.


This unit price cannot be modified for the term of the validity of the options;
it may only be adjusted, according to the law, if the Company were to proceed
with financial operations affecting its capital. Adjustments affecting both the
unit price and the number of stocks under option will however have no effect on
the overall value of the option for each beneficiary.


Beneficiaries will be informed in good time of the new subscription price and
the new number of stocks to which they are entitled to subscribe.


III – Vesting period and exercise period



III.1 – Vesting period


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Options accrue rights by fifth every year during a five-year period starting
from May 15, 2002. The rights so accrued are definitively acquired and may not
be lost for any reason whatsoever, included in case of departure from the
Group.


The accrued rights are calculated for each ended 12-month period and remain
subject to the freeze period as hereunder defined.



		
	 	As an example, a beneficiary of an option giving right to acquire
1000 shares who would leave the Group in December 2002 will have
no accrued rights and would not be entitled to acquire any stock.
In December 2003, he would be able to acquire 200 shares, the
remaining 800 options being expired.



III.2 – Duration of the options


Attribution of the options was decreed by the Board of Directors of the Company
on May 15, 2002, so beneficiaries will be able to exercise their options at any
time up to and including May 14, 2010, subject to the freeze period and to
accrued rights.


Options are exercised in one or several occasions for the accrued part on
request from the beneficiaries, who decide to do so in their own discretion, in
function of their individual financial resources and movements of the CGG stock
price, however subject always to insiders rules.


III.3 – Freeze period


A three-year freeze period has been instituted until May 15, 2005.


Any portion of the accrued and vested part of the option cannot be purchased
before May 15, 2005 but may consequently be exercised at any time between May
16, 2005 and May 14, 2010 included.


Taking into account the vesting period, a beneficiary at the end of the Freeze
period will be allowed to exercise three-fifth of its option. The two remaining
fifth may only be exercised from respectively May 2006 and May 2007 until May
14, 2010, included.


III.3 – Exceptions


Beneficiaries will be allowed to exercise their whole option during the freeze
period upon the occurrence of any of the following events :



	•	 	redundancy or lay off, corresponding to the French concept of “Licenciement Economique”.
	 
	•	 	death, provided that the heirs of the deceased beneficiary exercise the option within a six month period from the date of
death.
	 
	•	 	take over bid or public offer of exchange related to the securities of the Company.




	 	–	 	In this case, exercise of option will be allowed only until the end of the take over and will be limited to 75% of
the total amount of the stocks allocated to each beneficiary (whether or not accrued).



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	 	–	 	In consequence thereof, after the termination of the take over, the
beneficiaries will not be authorized to exercise their options before the end
of the freeze period, i.e. May 15, 2005.



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IV – Obligation to keep the stocks



IV.1 – Obligation to keep


Beneficiaries who have an option giving right to acquire 1000 stocks or more
are committed to keep their stocks under the registered form from the
acquisition date until May 15, 2006 included.



		
	 	As an example, a beneficiary who exercises his option on May 16,
2005, i.e immediately after the end of the freeze period, would
not be entitled to sell or transfer his stocks to the bearer form
before May 16, 2006. A beneficiary who exercises his option on May
16, 2006 would be free to sell the stocks on the same day.



IV.2 – Exceptions


However, the above obligation to keep stock will not apply to beneficiaries who
have an employment agreement governed by a law other than French law and who
work outside France, these two conditions being cumulative. A beneficiary who,
on May 15, 2002 meets these two conditions but who, on the date of option
exercise and/or on the date of the contemplated sale or transfer, no longer
meets them, must keep the stocks until May 16, 2006.


Furthermore, would not be subject to the obligation to keep the stock under the
registered form beneficiaries who may exercise their whole option during the
freeze period for one of the following events :



	•	lay off or redundancy (corresponding to the French concept of
“Licenciement Economique”)
	 
	•	death
	 
	•	in the event of take over bid or public offer of exchange, any
beneficiary of an option giving right to acquire 1000 stocks or more
will not be obligated to keep the stocks acquired before or during the
take over.
	 
	 	 	In case of a take over bid during the freeze period, a
beneficiary of an option to acquire 1000 stocks or more and who
would acquire 500 stocks from the 750 exercisable during the take
over period (i.e. 75%, see point III.3 above) shall be allowed to
sell only the 500 stocks, the remaining 250 must not be exercised
before the end of the freeze period or sold before May 16, 2006.



V – Conditions of employment



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The option, which is herein granted, is strictly linked to your status of
employee of the Group.


However, the accrued rights will be maintained whatever the reason of departure
from the Group. All the terms and conditions of this Plan such as but not
limited to the freeze period, the obligation to keep will remain applicable.



		
	 	A beneficiary of an option giving right to acquire 1000 stocks
who would leave the Group in June 2003 will keep his right to
acquire 200 stocks but will be entitled to acquire them only from
May 2005 and will not be allowed to sell them before May 2006. A
beneficiary who would leave the Group in December 2002 will have
no accrued rights and cannot purchase any stocks.



Beneficiaries shall be deemed to have lost the status of employee of CGG or an
affiliate (a company in which CGG holds directly or indirectly at least 30% of
the capital) on the date of termination of the service contract, i.e. at the
end of the required notice period, regardless the cause or the author of the
termination.


Exceptions


If a beneficiary ceases to be employee of the Group for one of the following
reasons, the options and the conditions of exercise will be treated as follows :



	•	 	Death : the heirs of a deceased beneficiary will be entitled to
exercise all or part of the option within a six month period from the
date of beneficiary’s death. At the end of this six month period, the
option will expire.
	 
	•	 	Lay off (French concept of “Licenciement Economique”) : options may be
exercised entirely at any time from the date of the lay off until May
14, 2010 without obligation to comply with the freeze period and/or
the obligation to keep the stocks.
	 
	•	 	Retirement, early retirement (“pre retraite” as such term is construed
under French Law) : beneficiaries will continue to benefit from their
options until May 14, 2010 but remain subject to all the terms and
conditions of the plan such as but not limited to the vesting period
and accrual of rights, the freeze period or obligation to keep the
stocks.
	 
	•	 	Affiliate leaving the Group : the beneficiaries, employees of such
affiliate, will continue to benefit from their options but remain
subject to all the terms and conditions of the plan such as but not
limited to the vesting period and accrual of rights, the freeze period
or obligation to keep the stocks.



As mentioned above, only death and redundancy (lay off) will allow the exercise
of the option during the Freeze period; beneficiaries leaving the group for the
other reasons listed above will not be entitled to acquire the stocks before
termination of the three-year Freeze period.


Furthermore, in the case of a beneficiary leaving the Group under a mutual
arrangement with the employer, the Company may contemplate, on a case-by-case


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basis, maintaining the beneficiary’s right to the stock options. Such pursuance
of the rights will follow the rules applicable for a retirement.


VI – Exercise of the option



VI.1 – In order to exercise an option, the following documents must be sent to
the Legal Division at CGG, Tour Maine Montparnasse, BP 191, 33 avenue du Maine,
75755 Paris Cedex (Valérie FERY/Caroline MIKOLAJCZYK):



	•	 	exercise of option form accurately completed and signed (Form no.1 attached)
	 
	•	 	subscription form accurately completed and signed (Form no. 2 attached)
	 
	•	 	payment in full of the sum corresponding to the number of stocks, in the form of a cheque made to the order of NSMD.
	 
	•	 	undertaking to keep the stocks under the registered form for the beneficiary holding an option for 1000 stocks or more
(Form no. 3 attached) ;
	 
	•	 	authorization given to the Bank to deduct from the sale proceeds an amount for payment of the social security charges.
(Form no. 4 attached). While this question concerns only French Tax residents, each beneficiary will be required to fulfill
it. It may be used only when a foreign beneficiary becomes French Tax resident on the date he sells his stocks.



Your stocks will be issued as registered stock in your name. Stocks will be
registered in an account opened with the Bank entrusted with the management of
the registered stocks (NSMD).


VI.2 – Within eight days from the date of receipt of the all documents listed
in VI.1 above, CGG will execute all formalities in order for you to acquire the
status of CGG’s shareholder.


The option shall be deemed to be exercised on the date of receipt by CGG of the
complete file, provided however that conditions related to the Vesting Period,
the Freeze Period and the Status of Employee are fulfilled.


VII – Suspension period



VII.1 – Conditions


CGG’s Board of Directors or, upon delegation from the Board, the Chairman and
CEO may suspend for a period which shall not exceed three months, any exercise
of option in case of:


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	–	 	Financial operation requiring a prior and strict knowledge of the number of
CGG’s stocks.
	 
	–	 	Adjustment affecting the unit price as provided by French Company law.



VII.2 – Notice


Within five (5) days from the Suspension decision of the Board of Directors or
of the Chairman and C.E.O., beneficiaries will be informed by internal
memorandum and/or by e-mail, general or individual:



	–	 	that a Suspension period has been instituted in accordance with point VII.1
above;
	 
	–	 	the duration of the Suspension.



If applicable, beneficiaries will be informed of the new subscription price and
new number of stock to which they are entitled to subscribe.


VII.3 – Transitory Period


To the extent possible, the beneficiaries will be allowed a reasonable time
period between the receipt of the above-mentioned notice and the entry into
effect of the suspension period during which they may exercise their options,
in whole or in part, provided of course that the freeze period has expired.


Each beneficiary hereby expressly acknowledges that the allowed time period, if
any, may be extremely reduced if so required by the envisaged financial
operations.


At the end of this transitory period, Beneficiaries shall not be entitled to
exercise their options until expiry of the Suspension Period.


VII.4 – Confidentiality


Beneficiaries undertake not to divulge any information related to the
Suspension and the cause thereof.


VIII – Quotation of the new stocks



New CGG stocks acquired under the stock option plan are freely transferable at
any time, except where the obligation to keep applies in accordance with
paragraph IV above.


The new stocks are issued with the right to dividend on 1st January of the year
in progress.


However, there is no right to dividend with respect to profit from the previous
financial year. For this reason, two cases may be envisaged during the year of
exercise:


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VIII.1 – The stocks acquired are assimilated to existing stocks


From the date on which dividend is paid or, if no dividend is paid, the date of
the Annual Ordinary Meeting of Stockholders, until 31 December of that year,
the new stocks will be quoted on the regular line of the Premier Marché of the
Paris Stock Exchange at the same rate as existing stocks (Index SICOVAM :
12016).


VIII.2 – The stocks acquired are not assimilated to existing stocks


From 1 January until the date on which dividend is paid or, if no dividend is
paid, until the date of the Annual Ordinary Meeting of Stockholders, the new
stocks will not be quoted at the same rate as existing stocks, but on a
separate line (separate index). After the date on which dividend is paid or, if
no dividend is paid, after the date of the Annual Ordinary Meeting of
Stockholders, the stocks will be transferred to the regular line (index SICOVAM : 12016) and assimilated to existing stocks.



		
	 	For example: The last Annual Ordinary Meeting of Stockholders
took place on May 15, 2002. All stocks purchased by the exercise
of stock options between January 1, 2002 and May 15, 2002 were
quoted on a separate line until May 15, 2002, at which date they
were transferred to Index 12016 and assimilated to existing
stocks. On the other hand, stocks subscribed by the exercise of
stock options between May 15, 2002 and December 31, 2002 were
quoted directly on the 12016 line.



Finally, it should be noted that non-assimilated new stocks usually have a
below par rating compared with stocks sold on the 12016 line (this is on
account of low trading levels even when no dividend is due from the preceding
financial year).


IX – Order for sale



The order for sale must be communicated directly to the Bank.


In addition to indicating the number of stocks to be sold, certain details may
be given to the Bank concerning the order for sale on the stock market:



	–	 	discretionary order. This order bears no instructions. It is carried out
at the opening of the next session of the Paris Stock Exchange (which is
generally when the greatest number of stocks are exchanged).



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	–	 	limited price order. This order sets a minimum rate at which the seller
agrees to transfer his stocks. It will therefore be carried out only if
the quoted rate is equal or superior to this minimum. CGG stocks are
quoted continuously and there may be fairly substantial differences
between the rates applied to various transactions carried out during
the same session. Limited price orders tend therefore to be more reliable than discretionary orders.



X – The financial advantages of the stock option plan



In addition to the advantage of being associated with the expansion of the
Group, beneficiaries who exercise their options can make profits in two ways
when selling the stocks:



	–	 	gain on the purchase price equal to the difference between the price
quoted on the Stock Exchange the day the option is actually exercised and
the subscription price of the option, and ;
	 
	–	 	gain on the sale price equal to the difference between the price at
which the stocks are sold and the price quoted on the Stock Exchange the
day the option is exercised.




	 	 	 	 	 	 	 	 	 
	Examples	 	Hypothesis
	 	 	

	(On the basis of a subscription price of 40 € )	 	T1	 	T2
	
	 	
	 	

	Stock subscription price (a)
	 	 	40	 	 	 	40	 
	Value on the Stock market of the the CGG Stock on the date
of option exercise (b)
	 	 	60	 	 	 	75	 
	Gain on the purchase price (b – a)
	 	 	20	 	 	 	35	 
	Sale price (c)
	 	 	70	 	 	 	80	 
	Gain on the sale price (c – b)
	 	 	10	 	 	 	5	 



T1 : Exercise of the option and sale of the stock on the same day


T2 : Exercise of the option on May 15, 2005 and sale of the stock on May 26,
2006.


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XI – Taxation of the advantages



The summary hereunder applies only to French tax residents who, as such, are
subject to French Tax legislation. General information may be provided to other
residents, upon request, on the relevant foreign tax rules. However, foreign
beneficiary should revert to his tax advisor.


XI.1 – Taxation on gains on the purchase price


Taxation on gains on the purchase price varies depending on whether or not the
beneficiary sells his stocks before the end of a four-year period starting from
the date of attribution of the option, i.e. not before May 15, 2006 and
depending on the time period during which the beneficiary continues to hold the
stocks.


It should be noted that if the stocks are transferred from registered stocks to
bearer stocks, they are considered as sold.


•     Failure to respect the fiscal four-year period


In this case, the gain on the purchase price is considered as additional salary
and as such is subject to income tax. The gain is added to the revenues for the
year during which the stocks are sold and not for the year in which the option
is exercised. However, after deductions applicable to salaries, tax is spread
according to the “quotient” system so as to take into account the length of
time for which the options have been held.


Furthermore, in this case, the gain on the purchase price will also be subject
to all French social security contributions (i.e. about 25 %).


It is again noted that if, during the fiscal four-year period, the acquired
stocks are simply transferred from registered stock to bearer stock, without
being sold the gain is likewise subject to income tax and social security
contributions.


Exceptions:


As an exception, tax exemption on the gain on the purchase price applies if the
stocks are sold or transferred from registered stock to bearer stock before the
expiry of the fiscal four-year period in the following cases:



	–	 	dismissal
	–	 	retirement
	 	 	In the above two cases, the options must have been acquired by the
beneficiary at least 3 months before date of the event in question.
	–	 	invalidity corresponding to classification in the second or third
category defined in Article 310 of the French “Code de la Sécurité
Sociale”.
	–	 	death.
	 
	•	Respect of the fiscal four-year period and of the two-year period of holding



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The French law on New Economical Regulations enacted on May 15, 2001 has
modified the fiscal treatment of stock options for plans instituted from April 20, 2000.



	•	 	The gain on the purchase price, up to 152 500€, is taxed at the rate
of 30% plus 10% with respect to social contributions (i.e. 40%).
	 
	•	 	The gain on the purchase price above 152 500€ is taxed at the rate of
40% plus 10% for social contributions (i.e. 50%).



The beneficiary may always decide, at his sole discretion, to be taxed on the
basis of income tax.


This tax treatment may be optimized if the beneficiary keeps the stocks
acquired during a two-year period, i.e. if he does not sell them before a
two-year period from the date of acquisition.



	•	 	In that case, the gain on the purchase price up to 152 500€ will be
taxed at the rate of 16% plus 10% for social contributions i.e. 26%.
	 
	•	 	The part of the gain exceeding 152 500€ will be taxed at the rate of
30% plus 10% for social contributions (i.e. 40%).



This specific rule will apply only if the stocks have been kept under the
registered form during at least a two-year period. This two-year period is to
be computed from the end of the fiscal four-year period.


In consequence thereof, if the stocks were subscribed 1 year before the end of
the fiscal period, a beneficiary must hold the stocks during a three-year
period if he wants to optimize the taxation.


The above taxation will apply only if the total value of sales (including stock
sales unrelated to the present stock option plan) made by the beneficiary
during the year of the sale exceeds the threshold determined on an annual basis
by the French Tax authorities (7 590€ for fiscal 2001).


The beneficiary may always decide, at his sole option, to be taxed on the basis
of income tax.


XI.2 – Taxation on gains made on the sale of stocks


The gain made on the sale of stocks is taxed at the regular rate for capital
gains. The tax rate is therefore 16.0% (for fiscal 2001) plus around 10% with
respect to social security contributions, if the total value of sales
(including stock sales unrelated to the present stock option plan) made by the
beneficiary during the year of the sale or transfer exceeds the threshold
determined on an annual basis by the taxation authorities (7 590 euros for
fiscal 2001).


XI.3 – Declaration commitments


Company’s obligations


Each year, the Company has to provide tax authorities with a certificate
including the name of beneficiaries who have exercised options during the
preceding year, the dates of the exercise, the number of stocks acquired
and the subscription price.


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Each year until the expiry of the fiscal five-year period during which stocks
are sold or transferred from registered stocks to bearer stocks, the
Company has to declare, dates of sale or of transfer to bearer stock, date
of attribution and the date of the option exercise, the number of stocks,
the subscription price and the price quoted on the Stock Exchange the day
the option is exercised.


Beneficiary’s obligation


The year during which the option is exercised, the beneficiary shall append
to his tax declaration the statement that will be communicated to him by
the Bank.


The year during which the stocks are sold or are transferred from registered
stocks to bearer stocks before the expiry of the fiscal five-year period,
the beneficiary will state on his tax declaration :



	–	 	the difference between the price quoted on the Stock Exchange the day the
option is exercised and the subscription price,
	 
	–	 	the gain made on the sale of stocks, equal to the difference between the
price at which the stocks are sold and the price quoted on the Stock
Exchange the day the option is exercised, only if the total annual value
of stocks sales (including stock sales unrelated to the present stock
option plan) exceeds the threshold determined by the taxation authorities
(7 590 euros for fiscal 2001).



*

* *



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Form no. 1



Plan d’options de souscription d’actions du 15 Mai 2002


Stock Options plan dated May 15, 2002


DECLARATION DE LEVEE D’OPTION

(EXERCISE OF OPTION)



Je, soussigné (e)

(I, the undersigned)



	 	 	 	 	 
	NOM : ___________________________________________
	 	Prénom:________________________________________________
	(Name)
	 	(First Name)
	 

	Adresse fiscale : n° _________________________________
	 	Rue ___________________________________________________
	(Fiscal address : n°)
	 	(Street)
	 

	Code Postal _______________________________________
	 	VILLE _________________________________________________
	(Zip code)
	 	(City)



Date de naissance et lieu de naissance:_____________________________________________

(Date and place of birth)


Adresse courrier si différente de
l’adresse fiscale : n° __________________ Rue____________________________

(if different from Fiscal Address : Mailing address
n°)                    
                    
     
               (Street)




	 	 	 	 	 
	Code Postal _________________
	 	VILLE __________________________________
	(Zip code)
	 	(City)




déclare exercer à hauteur de _______________________ actions, l’option de souscription de
______________________actions de 2 € de nominal à un prix de souscription de 43,47 €
chacune qui m’a été consentie le 15 Mai 2002, conformément à la décision de
l’Assemblée Générale Mixte du 15 Mai 2002 et à la délibération du Conseil
d’Administration du 15 Mai 2002.


(hereby declare that I wish to purchase _______________________ stocks, exercising my option to
subscribe to _______________________ nominal 2 € stocks at a subscription price of 43,47 €
each, as granted to me on May 15, 2002, in compliance with the decision taken
by the Extraordinary General Meeting on May 15, 2002 and with the deliberations
of the Board of Directors on May 15, 2002)


En conséquence, je souscris _______________________ actions au moyen du mandat de
souscription joint et je m’engage à verser la somme de _______________________
Euros représentant le montant intégral du prix d’émission des actions
souscrites.


(In pursuance whereof, I hereby subscribe to _______________________ stocks by means of
the subscription form enclosed herewith and undertake to pay the sum of
_______________________ Euros which represents the total cost of issuing the stocks
subscribed)


Fait à                           
    ,
le           
                     Signature :

(Executed in)(on)


(en 2 exemplaires, dont l’un reste en ma possession)

(two copies, one of which remains in my possession)









 


Form no. 2



Plan d’options de souscription d’actions du 15 Mai 2002

Stock Options plan dated May 15, 2002


MANDAT DE SOUSCRIPTION

(SUBSCRIPTION FORM)



Je, soussigné (e)

(I, the undersigned)




	 	 	 	 	 
	NOM : ___________________________________________
	 	Prénom:________________________________________________
	(Name)
	 	(First Name)
	 

	Adresse fiscale : n° _________________________________
	 	Rue ___________________________________________________
	(Fiscal address : n°)
	 	(Street)
	 

	Code Postal _______________________________________
	 	VILLE _________________________________________________
	(Zip code)
	 	(City)




déclare donner mandat à la Banque NSMD de souscrire pour mon compte ________________________
actions COMPAGNIE GENERALE DE GEOPHYSIQUE.


(hereby declare that I empower the Bank NSMD to subscribe for my account
________________________ stocks in the COMPAGNIE GENERALE DE GEOPHYSIQUE.)


Ces titres seront inscrits en nominatif à la Banque NSMD.

(These stocks will be registered in my name account with the Bank NSMD.)


A l’appui de ma souscription, je règle par chèque à l’ordre de la banque NSMD
la somme
de ________________________ Euros égale au montant du prix d’émission des actions
souscrites.


(In support of my subscription, I am paying by cheque, to the order of the
Banque NSMD, the sum of ________________________ Euros which is equal to the price of
issuing the stocks to which I am subscribing.)


Fait à                     
          , le                     
           Signature (*) :

(Signed in)                               (on)


(*) Faire précéder la signature de la mention” Bon pour souscription à ________________________________ actions” (en toutes lettres)


(*) (The signature must be preceded by the wording « Bon pour souscription à
________________________________ actions »-)







 



Form no. 3



Plan d’options de souscription d’actions du 15 Mai 2002

Stock Options plan dated May 15, 2002


ENGAGEMENT DE DETENTION DES ACTIONS

(UNDERTAKING)



Je, soussigné (e)

(I, the undersigned)












	 	 	 	 	 
	NOM : ___________________________________________
	 	Prénom:________________________________________________
	(Name)
	 	(First Name)
	 
	Code Postal _______________________________________
	 	VILLE _________________________________________________
	(Zip code)
	 	(City)






Déclare avoir exercé à hauteur de ________________________________ actions, l’option de
souscription de ________________________________ actions de 2 € de nominal à un prix de
souscription de 43,47 € chacune qui m’a été consentie le 15 Mai 2002,
conformément à la décision de l’Assemblée Générale Mixte du 15 Mai 2002 et à
la délibération du Conseil d’Administration du 15 Mai 2002.


(Hereby declare having purchased ______________________ stocks in COMPAGNIE GENERALE DE
GEOPHYSIQUE of 2 € par value at a subscription price of 43,47 € each,
exercising my option to subscribe to a total of ___________________ stocks as granted to
me on May 15, 2002, in compliance with the decision taken by the Extraordinary
General Meeting on May 15, 2002 and with the deliberations of the Board of
Directors on May 15, 2002)


Je reconnais avoir pris connaissance du règlement du plan susmentionné et
notamment de ce qu’il impose à chaque bénéficiaire d’options donnant droit
d’acquérir 1 000 actions ou plus l’obligation de détenir les actions sous la
forme nominative à compter de la levée des options et jusqu’au 15 Mai 2006
inclus.


(I acknowledge having read the explanatory leaflet of the above mentioned stock
options plan and more particularly with respect to the obligation to keep the
stocks under the registered form until May 15, 2006 imposed on each beneficiary
holding an option to acquire 1 000 stocks or more)


En conséquence, je déclare et m’engage par la présente à conserver les actions
ainsi souscrites en la forme nominative et à ne pas les vendre avant le 15 Mai
2006 inclus, conformément au règlement du plan d’option de souscription en
date du 15 Mai 2002.


(In consequence thereof, I hereby declare and undertake to keep the stocks so
subscribed under the registered form and not to sell them before May 15, 2006
(included) in accordance with the explanatory leaflet)


Je reconnais être dégagé de cette obligation dans la seule mesure où je suis
titulaire d’un contrat de travail non régi par le droit français et travaille
hors de France au moment de la levée de l’option et au moment envisagé de la
vente.


(I acknowledge being released from this obligation in the sole case where, at
the subscription date and at the contemplated sale date, I have an employment
agreement governed by a law other than French law and I work outside France)


Fait à ______________________ , le ________________________________       
            Signature :

(Signed in)                     
                      
                  (on)


(en 2 exemplaires, dont l’un reste en ma possession)

(two copies, one of which remains in my possession)









 


Form no. 4



Plan d’options de souscription d’actions du 15 Mai 2002

Stock Options plan dated May 15, 2002


AUTORISATION DE PRELEVEMENT

Authorization to deduct charges from the proceeds


Je, soussigné (e)

(I, the undersigned)




	 	 	 	 	 
	NOM : ___________________________________________
	 	Prénom:________________________________________________
	(Name)
	 	(First Name)
	 
	Code Postal _______________________________________
	 	VILLE _________________________________________________
	(Zip code)
	 	(City)




Déclare avoir exercé à hauteur de ______________________ actions, l’option de
souscription de ______________________ actions de 2 € de nominal à un prix de
souscription de 43,47 € chacune qui m’a été consentie le 15 Mai 2002,
conformément à la décision de l’Assemblée Générale Mixte du 15 Mai 2002 et à
la délibération du Conseil d’Administration du 15 Mai 2002.


(Hereby declare having purchased ______________________ stocks in COMPAGNIE GENERALE DE
GEOPHYSIQUE of 2 € par value at a subscription price of 43,47 € each,
exercising my option to subscribe to a total of ______________________ stocks as granted to me on May 15, 2002, in
compliance with the decision taken by the Extraordinary General Meeting on May 15, 2002 and with the deliberations of the Board of
Directors on May 15, 2002)


Je reconnais avoir pris connaissance du règlement du plan susmentionné
notamment en ce qu’il décrit le régime social et fiscal applicable aux plus
values réalisées à la suite de la levée des options de souscription d’actions.
Je reconnais ainsi que la plus-value d’acquisition est soumise aux cotisations
salariales, à la CSG et à la CRDS lorsque je réalise la vente de ces actions
avant le 15 Mai 2006 et que le prélèvement desdites charges dans le mois de la
vente des actions est opéré sur bulletin de paie, ce qui s’avère impossible
lorsque le contrat de travail a pris fin pour quelque raison que ce soit.


(I have reviewed the Regulations of the Stock Option Plan more particularly
with respect to the tax and social charges applicable to the purchase or
capital gains realized following the stock options exercise. I acknowledge
that this gain is subject, in France to social security charges, CSG and CRDS
when I sell the stocks before May 15, 2006 and that payment of these charges
is made on the basis of the next wages payment, which is impossible when the
employment agreement is terminated for whatever reason).


En conséquence, j’autorise expressément la Banque NSMD, ou toute banque qui
lui sera substituée par CGG, (ensemble « la Banque ») à prélever sur le
produit de la vente des actions CGG que j’aurai acquises au travers de
l’exercice des options de souscription d’actions qui m’ont été consenties dans
le cadre du plan du 15 Mai 2002 une somme correspondant à 25% (vingt cinq pour
cent) de la plus value d’acquisition alors réalisée via l’exercice de ces
options aux fins de constituer une provision pour les charges salariales, CSG
et CRDS que je devrais. Je reconnais que la Banque me reversera l’éventuel
trop perçu lorsque le montant exact des charges sociales dont je serai
redevable sera connu.


(In consequence thereof, I hereby authorize the Bank NSMD, or any other bank
that may be appointed by CGG, (together “the Bank”) to deduct from the gross
proceeds resulting from the sale of the stocks I will have acquired through
stock option granted on May 15, 2002 a sum amounting to 25% of the purchase
gain then realized in order to constitute a reserve for the payment of the
social security charges , CSG and CRS that I will have to pay. The Bank will
reimburse me the amount in excess of the actual amount of social charges due
when this latter will be known).


La présente autorisation de prélèvement ne sera utilisable que dans la seule
mesure où mon contrat de travail avec CGG, ou l’une de ses filiales a pris fin
et ce pour quelque raison que ce soit.









 


(This authorization will only be usable if my employment agreement with CGG or
with one of its affiliates has been terminated for whatever reason.)


Fait à ______________________ ,
le           
                      
         Signature (*)


(en 2 exemplaires, dont l’un reste en ma possession)












 



Form no 5






ORDRE DE VENTE  –  SALE ORDER

A adresser par courrier ou par fax à – To be forwarded by mail or fax to

Banque de NSMD  –  Services Plans d’Options –  3 avenue Hoche 75410 PARIS Cedex 08


Je, soussigné(e)

(I the undersigned)




	 	 	 	 	 
	NOM : ___________________________________________
	 	Prénom:________________________________________________
	(Name)
	 	(First Name)
	 

	Adresse fiscale : n° _________________________________
	 	Rue ___________________________________________________
	(Fiscal address : n°)
	 	(Street)
	 

	Code Postal _______________________________________
	 	VILLE _________________________________________________
	(Zip code)
	 	(City)





Adresse courrier si différente de l’adresse fiscale : n° __________________ Rue
__________________________________

(if different from Fiscal Address : Mailing address n°)           
                    
          (Street)


Code Postal ________________ VILLE ___________________________

(Zip code)                    
          
          (City)


N° de compte (account number ) : ____________________________________________
vous donne, par la présente, ordre de vendre ________________________ (1) actions Compagnie
Générale de Géophysique – CGG, acquises dans le cadre du plan d’options ouvert
le 15 Mai 2002,


(I instruct you by these presents to sell _______________________ (1) GEOPHYSIQUE’S shares
acquired under the Stock Option Plan of May 15, 2002).



	 	 	 	 	 	 	 	 	 	 	 	 
	(2)
	•	au prix du marché	 	 	(2)	•	avec limite de _______________ Euros
	 
	 	(at the market price)	 	 	 	 	(with a limit of _______________ Euros)



Fait à _________________ le _________________           
          
          
Signature
(Executed in)          
                    (on)




	(1)	 	Indiquer le nombre d’actions à vendre ((Indicate number of shares to be sold)
	(2)	 	Rayer la mention inutile (Cross out inappropriate mention)



Comment passer un ordre de vente



Les ordres doivent être adressés au Département ESR – Plans d’options de la
Banque NSMD (75410 PARIS Cedex 08), ou à CGG lors de l’envoi du dossier de
levée. Ils peuvent être transmis à l’aide de l’imprimé joint, mais également
sur papier libre (sous réserve des mentions nécessaires à sa bonne
execution), par courrier ou par fax (01 56 21 97 80). (1) L’ordre doit
comporter l’indication du nombre des actions à vendre, ainsi que les
précisions suivantes [rayer la mention inutile ] :

	(2)	 	l’ordre au prix du marché n’est assorti d’aucune indication de cours.
Il sera exécuté dès la transmission de l’ordre par la Banque ;
	 	 	l’ordre avec limite permet de fixer le cours minimum auquel le vendeur
accepte de céder ses actions. Cet ordre ne sera donc exécuté que si le
cours coté est égal ou supérieur à cette limite. Il sera pris en compte dès
sa réception par la Banque, sauf mention particulière.



Pour information, les frais de bourse proprement dits s’élèvent
approximativement à 1.15% (+ TVA) du montant des ventes (pour plus de détail,
se reporter aux conditions générales applicables aux opérations des
particuliers de la Banque NSMD) et l’impôt boursier à 0.3% diminué de 23€
(maximum 610€). Les fonds sont disponibles 4 jours ouvrés après la cession
effective, et peuvent être transférés sous réserve de l’envoi d’un Relevé
d’Identité Bancaire (RIB).


****


(Sale orders must be sent to NSMD, ESR department – Stock options plans
(75410 PARIS Cedex 08) or to CGG at the time of exercise of option’s sending.
They can be passed on aid of enclosed printed mater, by mail or fax(33 1 56
21 97 80)


Your order must indicate the number of shares you wish to sell, as well as
your choice with respect to the following options :

	•	 	unconditional order (market price) : this order will be executed
immediately upon its receipt by the bank (shares will be sold at the
first demand quotation)
	•	 	order with price limit : seller sets a price floor below which he
does not wish to sell his shares



Brokerage fees amounts approximately to 1.15% (+ VAT if applicable) of the
amounts of purchases and sales with respect to an order executed on the
Monthly Settlement. In addition, stock exchange tax amounts to 0.3% of the
sale proceeds after deduction of 23€ and with a maximum limit of 610€.

The funds are available 4 working days after the effective sale, and could be
transferred subject to the sending banking details.).