EX-4.10



 Exhibit 4.10 

Regulations for the 2015 

DBV TECHNOLOGIES 
 Stock
Options Plan 








	1.	Definition 

  

	2.	Legal framework 

  

	3.	Beneficiaries 

  

	4.	Description of options 

  

	 	a.	Description 

  

	 	b.	Terms and conditions governing exercise 

  

	 	c.	Exercise price 

  

	 	d.	Adjustments 

  

	5.	Exercise of options 

  

	 	a.	Exercise period 

  

	 	b.	Suspension of exercise rights 

  

	 	c.	Informing the AMF 

  

	6.	Treatment of shares under option 

  

	 	a.	Form 

  

	 	b.	Dividend entitlement 

  

	 	c.	Retention of shares under option 

  

	 	d.	Informing the AMF 

  

	7.	Tax and social security arrangements 

  

	8.	Management of the plan 

  

	9.	Data privacy content 

  

	10.	Interpretation of the plan and applicable law 









	 	1.	Definition 

 A subscription options plan is a system through which a company offers some or all of its
salaried staff and/or its corporate officers, or those of companies associated with it, the opportunity to obtain shares for a particular period at a specific price. 

Options are non-transferable. Conversely, the shares subscribed for may be sold. The difference between the sale price and the subscription price represents
the gain for the beneficiary. 
  

	 	2.	Legal framework 

 The Combined Annual General Meeting of Shareholders of DBV Technologies (the
“Company”) of June 3, 2014 (the “Annual General Meeting”) authorized the Company’s Board of Directors (the “Board of Directors”) to grant options giving entitlement to shares of the
Company to the persons that it may name from among the members of staff and officers of the Company and of companies associated with it subject to the terms of Article L.225-180 of the French Commercial Code. 

This authorization has been given for a period of thirty-eight (38) months from said Annual General Meeting, under the provisions of Articles L.225-177
et seq. of the French Commercial Code. 
 Exercising this authorization, the company’s Board of Directors decided at its meeting of
September 30, 2015, the main characteristics of an options plan and authorized the CEO to grant definitively an options plan conferring the entitlement to subscribe to shares of DBV TECHNOLOGIES, known as “2015 OPTIONS”. 

Exercising this authorization, the CEO granted this options plan (2015 OPTIONS), the subject of these regulations, under the terms and conditions adopted by
the shareholders’ meeting and the company’s Board of Directors. 
  

	 	3.	Beneficiaries 

 The Board of Directors decided on beneficiaries of this plan at its meeting on
September 30, 2015. 
  

	 	4.	Description of options 

  

	a.	Description 

 Each option confers the entitlement to subscribe to one share of the Company. The number of
options allocated to beneficiaries is given in the personal letter that is sent to them after they are actually allocated as decided by the Board of Directors. 

Neither the number nor the price of the options may be amended during their term, other than in the adjustment scenario described below. 

The allocation of new options under the resolution of the Annual General Meeting is subject to a further decision from the Board of Directors. 







 b. Terms and conditions governing exercise 

 

	 	•	 	Principles 

 The exercise of options is subject to the existence of a contract of employment
and/or a corporate mandate binding each beneficiary to the Company or to any legal entity directly or indirectly controlled by the Company within the meaning of Article L.233-3 of the French Commercial Code on the date that the options are
exercised. 
 As an exception to the foregoing, beneficiaries may, in case of, but subject to the consummation of, a takeover of the Company within the
meaning of Article L.233-3 of the French Commercial Code, exercise the options even if their contract of employment or corporate mandate ended for any reason between the takeover and the options exercise. 

Options may no longer be exercised: 
  

	 	•	 	in the event of resignation from the contract of employment or the corporate mandate, with effect from the day that the Company receives the letter of resignation from the relevant party or the day that it is handed to
an authorized representative of the Company; 

  

	 	•	 	in the event of dismissal, with effect from the day that the relevant party receives the dismissal notification letter, notwithstanding (i) a notice period, whether or not completed; (ii) any challenge by the
beneficiary to their dismissal and/or the reasons for it; and (iii) any legal ruling that would challenge the grounds for the dismissal; 

  

	 	•	 	in the event of contractual termination, with effect from the administrative approval of the termination agreement; 

  

	 	•	 	in the event of the revocation of the corporate mandate, with effect from the day of the meeting of the executive body deciding on its revocation if the beneficiary is in attendance, or, if they are not in attendance,
from the date that notification of this decision is received, notwithstanding (i) a notice period, whether or not completed; (ii) any challenge by the beneficiary to the revocation and/or the reasons for it; and (iii) any legal
decision that would challenge the validity of the revocation; 

  

	 	•	 	in the event of the non-renewal of the corporate mandate, with effect from the expiry date of the corporate mandate. 


In the event of resignation from the contract of employment or the corporate mandate or in the event of dismissal for any reason (a “Termination
Event”), beneficiaries could exercise their options prorata temporis of their presence in the Company. Any options that have not become exercisable prior to the date of the beneficiary’s Termination Event shall terminate immediately
and be of no further force or effect. Beneficiaries shall be permitted to exercise any options, to the extent then exercisable for a period of 90 days following the Termination Event. 







 Options may not be attached and are non-transferable and non assignable. 

 

	 	•	 	Waivers 

 Notwithstanding the foregoing: 

 

	 	•	 	beneficiaries shall retain the right to exercise their options in the event of departure or retirement, or a second or third category disability as laid down in Article L.341-4 of the French Social Security Code;


  

	 	•	 	in the event of the death of a beneficiary, their heirs may exercise the options within six (6) months of the date of death and transfer them immediately without this having the effect of extending the initial term
of validity of the options if they expire earlier. 

  

	c.	Exercise price 

 Exercising the company’s Board of Directors authorization, the CEO will set the
exercise price per share. It will correspond to Euronext Paris day’s closing price for the DBV TECHNOLOGIES stock on the day that the allocation was definitively decided by the CEO. 

This price is definitive for the full term of the plan, subject to the adjustment scenarios. 

 

	d.	Adjustments 

 In the scenarios laid down in Article L.225-181 of the French Commercial Code, the Company
shall take the necessary action to protect the interests of option beneficiaries under the conditions stipulated in Article L.228-99 of the French Commercial Code. 

For this purpose, the Company will take all the measures stipulated in Article L.228-99 of the Commercial Code. In particular, it may correct the number of
and exercise price for the options allocated under the conditions and following the procedures laid down by the regulatory provisions of the Commercial Code for each scenario that qualifies for an adjustment. 

 

	 	5.	Exercise of options 

  

	a.	Exercise periods 

 Beneficiaries may exercise the options during a planned vesting period of four years :

  

	 	•	 	up to a maximum of 25% with effect from December 15, 2016; 

  

	 	•	 	up to a maximum of 25% additionnal with effect from December 15, 2017; 

  

	 	•	 	up to a maximum of 25% additionnal with effect from December 15, 2018; 

  

	 	•	 	up to a maximum of 25% additionnal effect from December 15, 2019; 








 As an exception to the foregoing, beneficiaries may, in case of, but subject to the consummation of, a takeover
of the Company within the meaning of Article L.233-3 of the French Commercial Code, exercise in advance the options, with the exclusion of the suspension periods provided for below. 

The options will be withdrawn at the end of a period of ten (10) years following the decision by the Board of Directors to allow them, i.e. with effect
from December 15, 2025. 
  

	b.	Suspension of exercise rights 

 Inside information 

It is not possible to exercise options: 
  

	 	•	 	for a period of thirty (30) calendar days prior to the publication of the annual and half-yearly results. 

  

	 	•	 	for a period of fifteen (15) calendar days prior to the publication of the annual and quarterly revenue figures. 

  

	 	•	 	when beneficiaries hold inside information. Inside information is any information which, if made public, could have a significant influence on the price. 


A publication schedule is circulated once a year. You are encouraged to refer to the Code of Conduct drawn up by the Company and available online on the
intranet. 
 In the case of equity-related transactions decided by the Board of Directors 

Certain financial transactions involving the capital that require accurate prior knowledge of the number of shares making up the Company’s capital may
result in a decision by the Board of Directors to temporarily suspend the opportunity to exercise options. Option beneficiaries are informed by letter of the date on which exercise is suspended and the date of resumption. This information shall be
provided by non-recorded delivery, with seven (7) days’ advance notice. 
 Beneficiaries leaving the Company or, if applicable, any legal entity
controlled directly or indirectly by the Company within the meaning of Article L.233-3 of the French Commercial Code during an exercise suspension period may exercise their options at the end of the suspension period for an additional period that is
equal to the term of the suspension, without this period extending the initial term of validity of the option. 
  

	c.	Informing the AMF 

 In accordance with the provisions of Article L.621-18-2 of the French Monetary and
Financial Code, the exercise of options by a corporate officer or any person who has, within the Company, (i) the power to take management decisions regarding its development and strategy, (ii) regular access to inside information relating
directly or indirectly to the Company, requires that the AMF be informed, with a copy sent to the Company, within the timeframe laid down in the regulations currently in force. 








	 	6.	Treatment of shares under option 

  

	a.	Form 

 The shares corresponding to the options exercised shall be held in registered form. 

 

	b.	Reserved 

  

	c.	Retention of shares under option 

 The shares purchased upon exercise of this option shall be transferred
to each beneficiary on the records of the Company or of the transfer agent upon compliance to the satisfaction of the Board with all requirements under applicable laws or regulations in connection with such transfer and with the requirements hereof
and of the Plan. The determination of the Board as to such compliance shall be final and binding on beneficiaries. Beneficiaries shall not be deemed to be holder of, or to have any of the rights of a holder with respect to, any shares subject to
this option unless and until this option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have transferred the shares to beneficiaries, and the beneficiaries name shall have been entered as the
stockholder of record on the books of the Company. Thereupon, beneficaries shall have full ownership rights with respect to such shares. 
 Shares purchased
upon exercise of options are freely transferable once the option has been exercised, subject to compliance with the legal and regulatory provisions for closed periods associated with the holding of inside information. 

Beneficiaires are encouraged to refer to the Code of Conduct drawn up by the Company and available online on the intranet. 

 

	d.	Informing the AMF 

 In accordance with the provisions of Article L.621-18-2 of the French Monetary and
Financial Code, the sale of shares by a corporate officer or any person who has, within the Company, (i) the power to take management decisions regarding its development and strategy, (ii) regular access to inside information relating
directly or indirectly to the Company, requires that the AMF be informed, with a copy sent to the Company, within the timeframe laid down in the regulations currently in force. 

 

	 	7.	Tax and social security arrangements 

 Beneficiaries have sole responsibility for compliance with their
obligations in respect of declarations and payments, particularly their tax and social security obligations. They shall bear all taxes and mandatory deductions that they are obliged to pay by the regulations in force on the date that said taxes or
deductions are due. Beneficiaries shall, not later than the date as of which the exercise of this option becomes a taxable event for U.S. Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Board for payment of
any U.S. Federal, state, and local taxes required by law to be withheld on account of such taxable event. The Company shall have the authority to cause the minimum required tax withholding obligation to be satisfied, in whole or in part, by
withholding from shares to be issued to the beneficiary a number of shares with an aggregate fair market value that would satisfy the minimum withholding amount due. 







 Beneficiaries are encouraged to seek advice on their personal tax situation, particularly in respect of the tax
and social security arrangements that will be applicable to them, and they declare that they are in no way relying on any tax or social security advice from the Company. 
  

	 	8.	Management of the plan 

 The Board of Directors is responsible for the management of the plan in the
immediate future. 
 The Board of Directors may change the details of the plan (i) if it considers that the change is appropriate and has no
significant negative impact on the interests of beneficiaries or (ii) with the agreement of the beneficiaries concerned. 
 More generally, in case of
a change in the legislation, regulations or accounting standards, or a change in the interpretation of such provision, particularly relating to the tax or social security arrangements for the allocation or exercise of options, the terms and
conditions for the options may be amended by the Board of Directors at its discretion, to respond to this change as it sees fit. By way of example, the Board of Directors might decide to shorten or extend the exercise period, or to introduce a
mandatory retention period. 
 The amendments thus made will not give rise to any entitlement to compensation for beneficiaries for any loss or for any
increase in their tax or social security charges, even if these amendments are disadvantageous to them, either in general or with regard to their individual situation. 

The Company reserves the right to entrust management to an external organization: option beneficiaries will be informed of this change on an individual and
timely basis. 
  

	 	9.	Data Privacy Consent 

 In order to administer the plan and this award of options and to implement or
structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social
Security or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By
accepting this award of options, beneficiaries (i) authorize the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waive any privacy rights Beneficiaries may have with respect to
the Relevant Information; (iii) authorize the Relevant Companies to store and transmit such information in electronic form; and (iv) authorize the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies
consider appropriate. Beneficiaries shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 








	 	10.	Interpretation of the plan and applicable law 

 It shall be incumbent on the Board of Directors to
interpret the provisions of this plan as necessary. 
 This plan is subject to and must be interpreted according to the provisions of French law and any
dispute relating thereto will fall under the exclusive competence of the court with appellate jurisdiction for the location of the Company’s registered office. 







 To
[                    ] 
 Bagneux, [date]

 Dear [                    ], 

The Combined Annual General Meeting of Shareholders of DBV Technologies (the “Company”) of June 3, 2014 authorized the Company’s
Board of Directors to grant options giving entitlement to shares of the Company to the persons that it may name from among the members of staff and officers of the Company and of companies associated with it subject to the terms of Article L.225-180 of the French Commercial Code. 
 Exercising this authorization, the Company’s Board of
Directors decided at its meeting of September 30, 2015, the main characteristics of an options plan conferring the entitlement to subscribe to shares of DBV TECHNOLOGIES, known as “2015 OPTIONS.” 

Exercising this authorization, the CEO decided to grant definitively this options plan (2015 OPTIONS) the subject of these regulations, under the terms and
conditions adopted by the shareholders’ meeting and the company’s Board of Directors 
 In this decision, the company’s Board of Directors
decided to grant you [                    ] stock-options (“SO 2015”) giving the right to subscribe to
[                    ] common shares of DBV Technologies at a unit price of EUR 66.06 with the following vesting: 

 

	 	•	 	up to a maximum of 25% with effect from December 15, 2016; 

  

	 	•	 	up to a maximum of 25% additional with effect from December 15, 2017; 

  

	 	•	 	up to a maximum of 25% additional with effect from December 15, 2018; 

  

	 	•	 	up to a maximum of 25% additional effect from December 15, 2019; 

 The options will be withdrawn
at the end of a period of ten (10) years following the decision by the Board of Directors to allocate them, i.e. with effect from December 15, 2025. 

Please sign two copies of this letter, keeping one copy and returning the other to the Company. 

Yours faithfully, 
  

	
	  

	
	Pierre-Henri Benhamou
	
	Chief Executive officer


 Approved for acceptance 

[                    ] 

Enc.: 2015 Regulations 

  
 DBV Technologies 

Siège social: Green Square Bât. D ; 80/84 Rue des Meuniers – 92220 Bagneux 

SA au capital de 2 410 374,90€ N° SIRET 441 772 522 R.C.S. Nanterre 

Tel : 01 55 42 78 78 ; Fax : 01 43 26 10 83