Document:

Exhibit 4.3

       

      

      Resolution
Number 14 of the General Meeting of the Shareholders of sanofi-aventis held on
April 17, 2009

      (English
translation.  French original prevails.)

      

      

       

      FOURTEENTH
RESOLUTION

       

      Delegation
to the Board of Directors of authority to grant options to subscribe for or
purchase shares

       

      The
General Meeting, voting on the quorum and majority conditions for Extraordinary
Meetings, having reviewed the Directors’ Report and the Statutory Auditors’
Special Report:

       

      1.         authorizes
the Board of Directors, under articles L. 225-177 to L. 225-185 of the
Commercial Code, to grant, on one or more occasions, in favor of members of the
personnel to be chosen by the Board of Directors from among the employees and
corporate officers of the Company or of companies or groupings related to the
Company, on the terms specified in article L. 225-180 of said Code, options
giving entitlement to subscribe for new shares in the Company to be issued in
the form of an increase in its capital, and options giving entitlement to
purchase shares in the Company obtained by the Company repurchasing its own
shares on the terms laid down by the law;

       

      2.         resolves
that options to subscribe for or purchase shares granted by virtue of the
present authorization may not give entitlement to a total number of shares
exceeding 2.5% of the share capital as of the day the decision is made by the
Board of Directors, and that the aggregate par value of capital increases
resulting from the exercise of options to subscribe for shares granted under the
present delegation will count towards the overall ceiling specified in
section 3 of the eighth resolution of the present meeting;

       

      3.         resolves
that the price payable on the exercise of the options to subscribe for or
purchase shares will be set in accordance with the law by the Board of Directors
on the day the options are granted; such price may not be lower than the average
of the first quoted market prices of the Company’s shares on Eurolist by
Euronext for the twenty trading sessions preceding the day on which the options
to subscribe for shares are granted. If the Company carries out any of the
transactions specified in article L. 225-181 of the Commercial Code, the Company
will, on the terms stipulated by the regulations then in force, take the
necessary measures to protect the interests of the grantees including, if
necessary, by adjusting the number of shares that may be obtained on exercise of
options granted to grantees so as to take account of the impact of the
transaction in question;

       

      4.         formally
notes that the present delegation entails the express waiver by the
shareholders, in favor of the grantees of options to subscribe for shares, of
their preemptive rights relating to the shares that are to be issued as and when
said options are exercised. The increase in the share capital resulting from the
exercise of the options to subscribe for shares will be definitively completed
by mere declaration that the option is exercised accompanied by the subscription
form and full payment, which may be made in cash or by offset of debts of the
Company;

       

      5.         consequently,
confers full powers on the Board of Directors to implement the present
authorization, and in particular to:

       

      
        
          	
                	
                  · 

                	
                  establish
      a list of grantees of options, showing the number of options granted to
      each;

                

        

      

       

      
        
          	
                	
                  · 

                	
                  set
      the terms and conditions of the options, and in
  particular:

                

        

      

       

      
        
          	
                	
                  - 

                	
                  the
      term of validity of the options, it being understood that the options must
      be exercised within a maximum period of ten
  years;

                

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          	
                	
                  - 

                	
                  the
      exercise date(s) or period(s) of the options, it being understood that the
      Board of Directors may (a) bring forward the exercise date(s) or period(s)
      of the options, (b) extend the exercisability of the options, or (c)
      amend the dates or periods during which shares obtained by exercise of
      options may not be transferred or converted into bearer
      shares;

                

        

      

       

      
        
          	
                	
                  - 

                	
                  any
      clauses prohibiting immediate resale of some or all of the shares provided
      that the period for which the shares must be retained may not exceed three
      years from exercise of the option, it being understood that in the case of
      options granted to corporate officers, the Board of Directors must either
      (a) decide that the options may not be exercised by grantees before they
      cease to hold office, or (b) stipulate the quantity of shares that they
      are required to retain in registered form until they cease to hold
      office;

                

        

      

       

      
        
          	
                	
                  · 

                	
                  where
      appropriate, limit, suspend, restrict or prohibit the exercise of options
      or the transfer or conversion into bearer shares of shares obtained by the
      exercise of options during certain periods or with effect from certain
      events; such decision may relate to some or all of the options or shares
      or to some or all of the
grantees;

                

        

      

       

      
        
          	
                	
                  · 

                	
                  decide
      on the date, which may be retrospective, from which the new shares
      resulting from the exercise of options to subscribe for shares will rank
      for dividend;

                

        

      

       

      6.  resolves
that the Board of Directors, with powers to subdelegate within the law, will
have full powers to duly record the completion of capital increases to reflect
the amount of shares actually subscribed by the exercise of options to subscribe
for shares, amend the bylaws accordingly, and, at its sole discretion and as it
sees fit, charge the costs of the capital increases against the share premium
arising thereon and deduct from this premium the sums necessary to increase the
legal reserve to one-tenth of the new share capital after each capital increase,
and accomplish all formalities necessary for the listing of the securities
thereby issued, make all declarations with the relevant bodies and generally do
all that is necessary;

       

      7.  resolves
that this authorization cancels with effect from this day any unused portion of
any previous delegation to the Board of Directors of authority to grant options
to subscribe for or purchase shares. It is granted for a period of twenty-six
months from this day.Exhibit 4.4

       

       

      Extract
of Minutes of the Deliberation of the Sanofi-Aventis Board of Directors Meeting
establishing the terms and conditions of the  Sanofi-Aventis 2010
Stock Subscription Option Plan  and the Sanofi-Aventis 2010 Executive
Committee Stock Subscription Option Plan dated March 1, 2010 (English
translation. French original prevails).

       

      
        [.....]

      

      

      Proposal of stock
subscription option plans for 2010

      

      Mr. Van
Kemmel, on behalf of the Compensation Committee,
reminded the Board that the Shareholders’ Annual General Meeting of
April 17, 2009 authorized the Board of Directors for a period of twenty-six
months, under articles L. 225-177 to L. 225-185 of the French Commercial Code, to grant, on
one or more occasions, in favor of members of the personnel to be chosen by the
Board from among the employees and corporate officers of sanofi-aventis (the
“Company”) or of French or foreign companies or groupings related to the Company
(the “Group”), stock subscription options or options giving entitlement to
purchase existing shares in the Company obtained by the Company repurchasing its
own shares on the terms laid down by the law.

      

      The
Chairman of the Compensation
Committee reminded the Board that the total number of options granted
cannot give entitlement to a total number of shares greater than 2.5% of the
share capital as of the date of the Board’s decision, i.e. 32,961,976 shares
based on the share capital at December 31, 2009 (made up of 1,318,479,052
shares).

      

      The
Chairman of the Compensation
Committee proposed that the Board make use of the authorization granted
by the Shareholders’ General Meeting of April 17, 2009 to grant stock
subscription options. He explained that the sanofi-aventis Compensation Committee has
considered the terms of these new plans.

      

      The
Chairman of the Compensation
Committee explained that because grants of options to certain executive
officers must be subject to specific conditions, in particular performance
conditions, it is appropriate to have separate plans for the employees (the
“Employee Plan”), the
members of the Executive Committee (the “Executive Committee Plan”) and
the Chief Executive Officer (the “Chief Executive Officer
Plan”).

      

      
        
          	
                	
                  a) 

                	
                  2010 stock
      subscription option plan for
employees

                

        

      

       

      The
Board, having deliberated, unanimously decides to grant with effect from this
day 7,316,355 share subscription options on the terms proposed by the Compensation Committee and
more fully described in the Employee Plan Rules, which are an integral part of
the present decision and a copy of which, together with a list of the
beneficiaries and their respective number of options, will remain appended to
the minutes of the present decision, the principal terms being as
follows:

      

      
        
          	
                	
                  - 

                	
                  Type of option:
      share subscription options.

                

        

      

       

      
        
          	
                	
                  - 

                	
                  Total number of
      options granted: 7,316,355 options, subject to any adjustments
      provided in the Employee Plan Rules, each giving entitlement to subscribe
      for one share.

                

        

      

       

      
        
          	
                	
                  - 

                	
                  Beneficiaries:
      5,719 beneficiaries from among the employees of sanofi-aventis and Group
      companies.

                

        

      

       

      
        
          	
                	
                  - 

                	
                  Duration: 10 years, up to and including February
      28, 2020.

                

        

      

       

      
        
          	
                	
                  - 

                	
                  Exercise price per
      option: the exercise price will be the greater
  of:

                

        

      

       

      
        (i)  the
average of the opening quoted prices of sanofi-aventis shares on Euronext Paris
for the 20 trading days following the date of the announcement of the Company’s
annual results for the year ended December 31, 2009, i.e. from
February 11 through March 10, 2010 inclusive; or

      

       

      
        (ii)  the
average of the opening quoted prices of sanofi-aventis shares on Euronext Paris
for the 20 trading days preceding the date hereof, i.e. from February 1
through February 28, 2010 inclusive;

      

       

      such that
the exercise price will be set with no discount relative to the average of the
quoted market prices on the 20 trading days preceding the date of grant by the
Board, in accordance with the 14th
resolution of the Shareholders’ Annual General Meeting of April 17, 2009
and with the law.

       

      This
price will be payable immediately in cash on exercise of the
option.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          	
                	
                  - 

                	
                  Exercise
      period: at any time from March 3, 2014 through February 28,
      2020, inclusive. Beneficiaries may choose to exercise their options either
      in a single transaction, or in multiple
  transactions.

                

        

      

       

      Other
than in exceptional circumstances at the discretion of the Chief Executive
Officer, a beneficiary will irrevocably lose the right to exercise his or her
options in the event of:

       

      
        
          	
                	
                  · 

                	
                  resignation,
      in which case the right to exercise the options will be lost on the day
      that the beneficiary leaves the Group;
or

                

        

      

       

      
        
          	
                	
                  · 

                	
                  dismissal
      for serious or gross misconduct, in which case the right to exercise the
      options will be lost on the day of notification of such
      dismissal.

                

        

      

       

      The right
to exercise the options may be temporarily suspended, in particular in the event
of corporate actions affecting the share capital.

       

      Special
cases:

       

      (i)
Beneficiaries who take retirement or early retirement, whether at normal
retirement age or on an earlier or later date with the Company’s consent, will
retain the right to exercise their options until the end of the period of
validity of the options, i.e. up to and including February 28,
2020.

       

      (ii)
Beneficiaries who develop a disability classified in the second or third
category under article L. 341-4 of the French Social Security Code, i.e.
they can no longer carry out any professional activity, may exercise their
options without being required to observe the four-year lock-up period mentioned
in the first paragraph of Article 4 of the Employee Plan Rules, and will
retain their right to exercise their options until the end of the period of
validity of the options, i.e. up to and including February 28,
2020.

       

      (iii) If
a beneficiary dies, his or her heirs and assigns may exercise the options within
six months after the date of death, notwithstanding the four-year lock-up
period.

       

      
        
          	
                	
                  - 

                	
                  Disposal of the
      shares: the shares obtained on exercise of the options may be
      disposed of on or after March 3, 2014. Subject to this condition, the
      shares will be negotiable from the date of registration in a share
      account.

                

        

      

       

      
        
          	
                	
                  - 

                	
                  Ranking for
      dividend: the shares obtained on exercise of the options will be
      wholly fungible with existing sanofi-aventis shares from the date of
      issue. Consequently, they will be entitled to receive all dividends
      declared after the date on which they were
  subscribed.

                

        

      

       

      As an
exception to the above, shares subscribed by beneficiaries between
January 1 of any financial year and the date of the Shareholders’ Annual
General Meeting called to approve the financial statements of the previous
financial year will not be entitled until and including the date of said Meeting
to dividends (other than exceptional dividends distributed out of reserves) paid
in respect of previous financial years. Consequently, these shares will not be
wholly fungible with existing sanofi-aventis shares until after the dividend in
respect of that previous financial year has been paid, or if no dividend is
distributed, until after said Meeting has been held.

       

      
        
          
            	
                  	
                    - 

                  	
                    Adjustments: in
      the event of (i) a redemption or reduction of capital, (ii) a change in
      the allocation of profits, (iii) a grant of consideration free shares,
      (iv) increase in the share capital by incorporation of reserves, profits
      or share premium, (v) a distribution made out of reserves, or (vi) any
      issuance of equity instruments or of securities giving entitlement to the
      issuance of equity instruments that offer a subscription right reserved
      for shareholders, the exercise price and, if necessary, the number of
      optioned shares will be adjusted
accordingly.

                  

          

        

      

       

      In cases
where an adjustment mechanism is stipulated by law, that mechanism will be
applied.

       

      In cases
where no adjustment mechanism is stipulated by law, the Shareholders Meeting or
the Board meeting responsible for deciding on the issuance or the transaction
may adopt any or all adjusting measures to protect the rights of the
beneficiaries, based on the legal or regulatory provisions that apply in the
most analogous case.

       

      Full
powers are granted to the Chief Executive Officer, with authority to subdelegate
on the conditions stipulated by law, to take all measures necessary for
implementation of the present decision and more generally of the Employee Plan
in compliance with the law, the Company’s Articles of Association and the
Employee Plan Rules. In particular, he will be responsible for confirming the
exercise price of the stock subscription options in accordance with the method
for determining the price as decided on by the Board and described above. The
Chief Executive 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Officer
may also grant derogations as specified in the Employee Plan Rules and decide to
suspend the exercise of options.

      

      
        
          	
                	
                  b) 

                	
                  2010 stock
      subscription option plan for members of the Executive
      Committee

                

        

      

       

      

      Upon
proposal of the Compensation
Committee, the Board, after due deliberation, unanimously decides, to
grant, with effect from this day, 530,000 share subscription options on the
terms proposed by the Compensation Committee
and more
fully described in the Executive Committee Plan Rules, which are an integral
part of the present decision and a copy of which, together with a list of the
beneficiaries of the shares, will remain appended to the minutes of the present
decision, the principal terms being as follows:

      

       

      
        
          	
                	
                  - 

                	
                  Type of option:
      share subscription options.

                

        

      

       

      
        
          	
                	
                  - 

                	
                  Total number of
      options granted: 530,000 options, subject to any adjustments
      provided in the Executive Committee Plan Rules, each giving entitlement to
      subscribe for one share.

                

        

      

       

      
        
          	
                	
                  - 

                	
                  Beneficiaries:
      the members of the Executive Committee of sanofi-aventis and Group
      companies (except for the Chief Executive
  Officer).

                

        

      

       

      
        
          	
                	
                  - 

                	
                  Duration: 10 years, up to and including February
      28, 2020.

                

        

      

       

      
        
          	
                	
                  - 

                	
                  Exercise price per
      option: the exercise price will be the greater
  of:

                

        

      

       

      
        
          	
                	
                  (i) 

                	
                  the
      average of the opening quoted prices of sanofi-aventis shares on Euronext
      Paris for the 20 trading days following the date of the announcement of
      the Company’s annual results for the year ended December 31, 2009,
      i.e. from February 11 through March 10, 2010 inclusive;
      or

                

        

      

       

      
        
          	
                	
                  (ii) 

                	
                  the
      average of the opening quoted prices of sanofi-aventis shares on Euronext
      Paris for the 20 trading days preceding this day, i.e. from
      February 1 through February 28, 2010
  inclusive;

                

        

      

       

      such that
the exercise price will be set with no discount relative to the average of the
quoted market prices on the 20 trading days preceding the date of grant by the
Board, in accordance with the 14th
resolution of the Shareholders’ Annual General Meeting of April 17, 2009
and with the law.

       

      This
price will be payable immediately in cash on exercise of the
option.

       

      Performance
condition:

      

      The
exercise of 50% of the options is contingent upon the fulfillment of a
performance condition consisting in the cumulative achievement for each
financial years 2010, 2011, 2012 and 2013, of the following performance
criterion:

      

      The ratio of business net income to net
sales must be at least 18%.

       

      

      If the
performance criterion is not achieved for at least one of the financial years,
the performance condition will be deemed to have been missed and 50% of the
options granted will immediately expire, subject to certain exceptions
(disability and death, described under 4.3.2 and 4.3.3 below).

      

      The Board
meeting held to adopt the annual financial statements for 2013 will record
whether or not the performance condition has finally been fulfilled, and if
applicable, the expiration of the options subject to the performance
condition.

      

      The Board
of Directors reserves the right to adjust this performance condition in the
event of a change in the scope of consolidation of the Company, a change in
accounting method, or any other circumstance justifying such an adjustment in
the opinion of the Board of Directors, in order to neutralize to the extent
possible the consequences such changes might have on the objectives of the
grant.

       

      
        
          	
                	
                  - 

                	
                  Exercise
      period: at any time from March 3, 2014 through February 28,
      2020, inclusive. The beneficiary may choose to exercise its options either
      in a single transaction, or in multiple
  transactions.

                

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Each
beneficiary will permanently lose its right to exercise its options upon the
occurrence of any of the following events, unless otherwise decided by the
General Management in exceptional cases:

       

      
        
          	
                	
                  · 

                	
                  resignation
      of the beneficiary: the right to exercise the options will be lost on the
      day that the beneficiary leaves the Group;
or

                

        

      

       

      
        
          	
                	
                  · 

                	
                  dismissal
      of the beneficiary on grounds of serious or gross misconduct: the right to
      exercise the options will be lost on the day of notification of such
      dismissal.

                

        

      

       

      The right
to exercise the options may be temporarily suspended, in particular in the event
of corporate actions affecting the share capital.

       

      Special
cases:

       

      (i)
Beneficiaries who take retirement or early retirement, whether at normal
retirement age or on an earlier or later date with the Company’s consent, will
retain their right to exercise their options until the end of the period of
validity of the options, i.e. up to and including February 28, 2020 but will
remain bound by the other conditions of the plan.

       

      (ii)
Beneficiaries who develop a disability classified in the second or third
category under article L. 341-4 of the French Social Security Code, i.e.
they can no longer carry out any professional activity may exercise their
options without being required to observe the four-year lock-up period mentioned
in the first paragraph of Article 4 of the Executive Committee Plan Rules
and will be exempt from the performance condition for the amount of options
subject to such performance condition.

       

      (iii) If
a beneficiary dies, his or her heirs and assigns may exercise the options within
six months after the date of death, notwithstanding the four-year lock-up period
without being bound by the fulfillment of the performance
condition.

       

      
        
          	
                	
                  - 

                	
                  Disposal of the
      shares: the shares obtained on exercise of the options may be
      disposed of on or after March 3, 2014. Subject to this condition, the
      shares will be negotiable from the date of registration in a share
      account.

                

        

      

       

      
        
          	
                	
                  - 

                	
                  Ranking for
      dividend: the shares obtained on exercise of the options will be
      wholly fungible with existing sanofi-aventis shares from the date of
      issue. Consequently, they will be entitled to receive all dividends
      declared after the date on which they were
  subscribed.

                

        

      

       

      As an
exception to the above, shares subscribed by the beneficiary between
January 1, of any financial year and the date of the Shareholders’ Annual
General Meeting called to approve the financial statements of the previous
financial year will not be entitled until and including the date of said Meeting
to dividends (other than exceptional dividends distributed out of reserves) paid
in respect of previous financial years. Consequently, these shares will not be
wholly fungible with existing sanofi-aventis shares until after the dividend in
respect of that previous financial year has been paid, or if no dividend is
distributed, until after said Meeting has been held.

       

      
        
          	
                	
                  - 

                	
                  Adjustments: in
      the event of (i) a redemption or reduction of capital, (ii) a change in
      the allocation of profits, (iii) a grant of consideration free shares,
      (iv) increase in the share capital by incorporation of reserves, profits
      or share premium, (v) a distribution made out of reserves, or (vi) any
      issuance of equity instruments or of securities giving entitlement to the
      issuance of equity instruments that offer a subscription right reserved
      for shareholders, the exercise price and, if necessary, the number of
      optioned shares will be adjusted
accordingly.

                

        

      

       

      In cases
where an adjustment mechanism is stipulated by law, that mechanism will be
applied.

       

      In cases
where no adjustment mechanism is stipulated by law, the Shareholders Meeting or
the Board meeting responsible for deciding on the issuance or the transaction
may adopt any or all adjusting measures to protect the rights of the
beneficiary, based on the legal or regulatory provisions that apply in the most
analogous case.

       

      Full
powers are granted to the Chief Executive Officer, with authority to subdelegate
in accordance with applicable law, to take all administrative measures necessary
to implement the present decision and more generally the Executive Committee
Plan in compliance with the law and the Company’s Articles of Association. In
particular, he will be responsible for confirming the exercise price of the
stock subscription options in accordance with the price determination method
adopted by the Board as described above.

      

                     [.....]

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