Document:

EX-4.14

 Exhibit 4.14 

DBV TECHNOLOGIES S.A. 

STOCK OPTION AGREEMENT AND PLAN 

Pursuant to the Stock Option grant notice (the “Grant Notice”) and this Stock Option agreement (this
“Agreement and Plan”), DBV Technologies (the “Company”) has granted Optionee an option (the “Stock Option”) under this Agreement and Plan referenced in the Grant Notice to
purchase/subscribe the number of shares of the Company’s Ordinary Shares, €0.10 nominal value per share (each, a “Share”) indicated in the Grant Notice at the exercise price indicated in the Grant Notice. The Stock
Option is granted to the Optionee effective as of the date of grant set forth in the Grant Notice (the “Grant Date”).. Capitalized terms in this Agreement shall have the meaning specified in the Grant Notice unless a
different meaning is specified herein. 
 The details of the Stock Option and this Agreement and Plan generally, in addition to those set
forth in the Grant Notice, are as follows: 
 1. Legal Framework. 

(a) The Combined Annual General Meeting of Shareholders of the Company of June 15, 2017 (the “Annual General
Meeting”) authorized the Board to grant options to purchase and/or subscribe Shares to the persons that it may name from time-to-time 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 (the “French Code”). This authorization was
given for a period of 38 months from the Annual General Meeting, under the provisions of Articles L.225-177 et seq. of the French Code. 

(b) This Agreement and Plan and this Stock Option shall be administered by the Board. The Board may change the details of this Agreement and
Plan and this Stock Option (including the Grant Notice) (i) if it considers that the change is appropriate and has no significant negative impact on the interests of the Optionees or (ii) with the agreement of the Optioneesconcerned. 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 under this Agreement and Plan, including this Stock Option, may be amended by the Board at its discretion, to respond to this change as it sees fit. By way of example, the Board might decide to shorten or
extend the exercise period, or to introduce a mandatory retention period. 
 (c) The Board will have the power, subject to, and within the
limitations of, the express provisions of this Agreement and Plan: (i) to construe and interpret this Agreement and Plan and this Stock Option (including the Grant Notice) and (ii) to settle all controversies regarding this Agreement and
Plan and awards granted under it, including this Stock Option. 
 (d) The Board may delegate some or all of the administration of this
Agreement and Plan to the Company’s Chief Executive Officer, provided such delegation complies with French law. The Board may retain the authority to concurrently administer this Agreement and Plan with the Chief Executive Officer and may, at
any time, revest in the Board some or all of the powers previously delegated. 

 (e) All determinations, interpretations and constructions made by the Board in good faith will
not be subject to review by any person and will be final, binding and conclusive on all persons. 
 2. Vesting. Subject to the
provisions contained herein, the Stock Option will vest as provided in the Grant Notice and as set forth below during a planned vesting period of four (4) years: 
  

	 	•	 	0% of the total number of Stock Options granted to the Optionee shall vest between the Grant Date and the first anniversary date of the Grant Date (excluded); 

 

	 	•	 	25 % of the total number of Stock Options granted to the Optionee shall vest as from the first anniversary date of the Grant Date (included); 

 

	 	•	 	an additional 12.5 % of the total number of Stock Options granted to the Optionee shall vest after eighteen (18) months as from the Grant Date; 

 

	 	•	 	an additional 12.5 % of the total number of Stock Options granted to the Optionee shall vest after twenty-four (24) months as from the Grant Date; 

 

	 	•	 	an additional 12.5 % of the total number of Stock Options granted to the Optionee shall vest after thirty (30) months as from the Grant Date; 

 

	 	•	 	an additional 12.5 % of the total number of Stock Options granted to the Optionee shall vest after thirty-six (36) months as from the Grant Date; 

 

	 	•	 	an additional 12.5 % of the total number of Stock Options granted to the Optionee shall vest after forty-two (42) months as from the Grant Date; and

  

	 	•	 	an additional 12.5 % of the total number of Stock Options granted to the Optionee shall vest after forty-eight (48) months as from the Grant Date, 

Vesting will cease upon the termination of Optionee’s Continuous Service, unless otherwise provided below. Upon a Takeover, this Stock Option will be
deemed 100% vested and exercisable. 
 The Stock Options are exercisable within a ten (10) year period as from the Grant Date and in accordance with
the provisions of this Agreement and Plan. 
 3. Number of Shares and Exercise Price. The number of Shares subject to this Stock
Option and the Option Exercise Price are set forth in the Grant Notice. As provided for in the Grant Notice, each Stock Option shall give entitlement to acquire/subscribe to one (1) Share, subject to adjustments provided for in
Section 9 below. 

  
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 For the avoidance of doubt, it is specified that the Option Exercise Price shall correspond to
the price of the Shares on Euronext Paris on the Grant Date, but will not be less than the average of the share prices quoted over the twenty (20) trading days preceding the Grant Date. 

4. Manner of Exercise. 

(a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of this
Stock Option and in accordance with the terms of this Stock Options, the Optionee may give written notice to the Company of his or her election to purchase/subscribe some or all of the Shares subject to this Stock Option purchasable/being available
to subscription at the time of such notice. This notice shall specify the number of Shares to be purchased/subscribed. 
 (b) Payment of the
purchase price for the Shares may be made in cash, by certified or bank check or other instrument acceptable to the Board or, if allowable under applicable law, by way of offsetting receivables held by the Optionee against the Company. 

(c) Payment instruments will be received subject to collection. The transfer to the Optionee on the records of the Company or of the transfer
agent of the Shares will be contingent upon (i) the Company’s receipt from the Optionee of the full purchase/subscription price for the Shares, as set forth above, (ii) the fulfillment of any other requirements contained herein or in
this Agreement and Plan or in any other agreement or provision of laws, and (iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Shares to be
purchased/subscribed pursuant to the exercise of Stock Options under this Agreement and Plan and any subsequent resale of the Shares will be in compliance with applicable laws and regulations. 

(d) The Shares purchased/subscribed upon exercise of this Stock Option shall be transferred to the Optionee on the records of the Company or of
the transfer agent upon compliance to the satisfaction of the Board with all requirements under this Agreement and Plan, applicable laws or regulations in connection with such transfer and with the requirements hereof. The determination of the Board
as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, any Shares subject to this Stock Option unless and until this Stock
Option shall have been exercised pursuant to the terms hereof, the Company shall have transferred the shares to the Optionee, and the Optionee’s name shall have been entered as the stockholder of record on the books of the Company. Thereupon,
the Optionee shall have full voting, dividend and other ownership rights with respect to such Shares. Such Shares shall be freely transferable once the Stock Option has been exercised, subject to compliance with the applicable legal and regulatory
provisions as set forth in Sections 6 and 12 below. 
 (e) Notwithstanding any other provision hereof or of this Agreement and Plan, no
portion of this Stock Option shall be exercisable after the Expiration Date hereof, unless allowable under applicable law. 
 5.
Termination of Continuous Service. The exercise of the Stock Option is subject to the existence of Continuous Service at the date of exercise of the said Stock Option in accordance with this Agreement and Plan, subject to the exceptions set
forth in this Section 5. If the Optionee’s Continuous Service is terminated, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below. 

  
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 (a) Termination Due to Death. If the Optionee’s Continuous Service terminates by
reason of the Optionee’s death, any portion of this Stock Option shall be fully vested and exercisable, and , may thereafter be exercised by the Optionee’s heir(s) for a period of six (6) months from the date of death, even if such
date falls after the Expiration Date.. 
 (b) Termination Due to Disability. If the Optionee’s Continuous Service terminates by
reason of the Optionee’s Disability, any portion of this Stock Option outstanding on such date according to the vesting schedule set forth in Section 2, to the extent exercisable on the date of such Disability, may thereafter be exercised
by the Optionee for a period of six months from the date of Disability or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of Disability shall terminate immediately and be of no further
force or effect. 
 (c) Termination for Cause. If the Optionee’s Continuous Service terminates for Cause, any portion of this
Stock Option outstanding on such termination date according to the vesting schedule set forth in Section 2, to the extent exercisable on such termination date, shall terminate immediately and be of no further force and effect. Any portion of
this Stock Option that is not exercisable on such termination date shall also terminate immediately and be of no further force and effect. 

(d) Retirement. If the Optionee’s Continuous Service terminates as a result of Retirement, any portion of this Stock Option outstanding on
such date according to the vesting schedule set forth in Section 2, to the extent exercisable on such date of Retirement, may thereafter be exercised by the Optionee at any time before the Expiration Date of the Stock Option. Any portion of
this Stock Option that is not exercisable on the date of Retirement shall continue to vest in accordance with the vesting schedule set forth in Section 2 and become exercisable after attainment of vesting at any time before the Expiration Date
of the Stock Option. 
 (e) Other Termination. If the Optionee’s Continuous Service terminates for any reason (including a
termination further to a Takeover) other than the Optionee’s death, the Optionee’s Disability, the Optionee’s Termination for Cause or the Optionee’s Retirement, any portion of this Stock Option outstanding on such date according
to the vesting schedule set forth in Section 2 may be exercised, to the extent exercisable on the date of termination, for a period of (i) ninety (90) days from the date of termination if the Optionee is a U.S. employee of a Group
Company or (ii) six (6) months from the date of termination for Optionee other than U.S. employee of a Group Company, or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of termination
shall terminate immediately and be of no further force or effect. 
 For the avoidance of doubt, the date of termination of the Optionee’s Continuous
Service shall be as follows, it being specified that such date of termination may be adapted from time to time depending on any local applicable laws: 
  

	 	•	 	in the event of death or Disability, the date of such Optionee’s death or determination of Disability; 

  
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	 	•	 	in the event of resignation of the contract of employment or the corporate mandate, with effect from the day that the Group Company receives the letter of resignation from the Optionee or the day that it is handed to an
authorized representative of the Group 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
Optionee 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 Optionee is in attendance, or, if he is 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 Optionee 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. 

If the Optionee is a U.S. employee of a Group Company, the date of termination shall be as follows: 

 

	 	•	 	in the event of death or Disability, the date of such Optionee’s death or determination of Disability by the Company Group or its designee; 

 

	 	•	 	in the event of resignation (or equivalent) by the Optionee, the date specified in any letter of resignation by the Optionee or such as earlier date as determined in its sole discretion by the Group Company in which the
Optionee holds an employee or Director position at the date of termination; 

  

	 	•	 	in the event of termination (dismissal, removal or equivalent) of the Optionee’s Continuous Service by the Group Company in which the Optionee holds an employee or Director position, the date specified by such
Group Company; 

  

	 	•	 	in the event that there is a contract of employment or a corporate mandate bewteen the Optionee and the Group Company in which the Optionee holds an employee or Director position, the date specified in such contract of
employment or contract mandate for the relevant type of termination or as mutually agreed by the parties; or 

  

	 	•	 	in the event of agreed termination (or equivalent), the date of execution of the termination agreement by all parties. 

  
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 The Board’s determination of the reason for termination of the Optionee’s Continuous
Service shall be conclusive and binding on the Optionee and his or her legal heirs. 
 6. Suspension of Exercise Rights. 

(a) Notwithstanding anything in this Agreement and Plan, this Stock Option may not be exercised (i) for a period of 30 calendar days prior
to the publication of the annual and half-yearly results, (ii) for a period of 15 calendar days prior to the publication of the quarterly revenue figures or (iii) when Optionee holds “inside information.” For this purpose,
“inside information” is any information which, if made public, could have a significant influence on the price determined in accordance with 7.1 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of
16 April 2014 on market abuse. 
 (b) In addition, the Board may also elect to temporarily suspend the right to exercise this Stock
Option, upon occurence of certain financial transactions involving the share capital of the Company and which require accurate prior knowledge of the number of issued shares composing the share capital of the Company. In such event, Optionee will be
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 days’ advance notice. 

(c) If the event the Optionee’s Continuous Service terminates during any exercise suspension period, Optionee may exercise this Stock
Option at the end of the suspension period (to the extent then exercisable) for an additional period that is equal to the term of the suspension (or if earlier, through the Expiration Date), without this period extending the initial term of validity
of the Stock Option. 
 7. Transferability. This Stock Option is not transferable and
non-assignable as provided for in Article L.225-183 of the French Code, subject to the provisions of Section 5(a) above. 

8. Tax Withholding Obligations. 

(a) At the time this Stock Option is exercised, in whole or in part, and at any time thereafter as requested by the Company, Optionee hereby
authorizes withholding from payroll and any other amounts payable to Optionee, and otherwise agrees to make adequate provision for any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company or a
Subsidiary, if any, which arise in connection with the exercise of this Stock Option. 
 (b) Optionee may not exercise this Stock Option
unless the tax withholding obligations of the Company and/or any Subsidiary are satisfied. Accordingly, Optionee may not be able to exercise this Stock Option when desired even though the option is vested, and the Company will have no obligation to
issue a certificate for such Shares or otherwise enter Optionee’s name as the stockholder of record on the books of the Company, unless such obligations are satisfied. 

  
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 (c) Optionee hereby agrees that the Company does not have a duty to design or administer this
Agreement andPlan or its other compensation programs in a manner that minimizes Optionee’s tax liabilities. Optionee will not make any claim against the Company, or any of its officers, directors, employees, Subsidiaries or affiliates related
to tax liabilities arising from this Stock Option or Optionee’s other compensation and the Company encourages the Optionee to consult at his/her own expenses with his/her own tax adviser to determine the tax consequences applicable to him/her
in relation to this Stock Option. In particular, in the event the Optionee is a US tax resident, Optionee acknowledges that this option is exempt from Section 409A of the Code only if the exercise price per share is at least equal to the
“fair market value” per Share on the Grant Date and there is no other impermissible deferral of compensation associated with the option.  

9. Adjustments for Changes in Capitalization. In the case of an event described in Article
L.225-181 of the French Code, the Company shall take the necessary action to protect the interests of the Optionee beneficiaries under the conditions stipulated in Article
L.228-99 of the French Code. For this purpose, the Company will take all the measures stipulated in Article L.228-99 of the French Code. In particular, it may adjust the
number of Shares subject to this Stock Option and the Option Exercise Price under the conditions and following the procedures laid down by the regulatory provisions of the French Code for each scenario that qualifies for an adjustment. The
Board’s adjustments shall be final, binding and conclusive. 
 10. No Obligation to Continue Service. Neither the Company nor any
Subsidiary is obligated by or as a result of this Agreement and Plan to continue the Optionee’s Continuous Service and this Agreement and Plan shall not interfere in any way with the right of the Company or any subsidiary to terminate the
employment or other service of the Optionee at any time or for any reason. 
 11. Data Privacy Consent. In order to administer this
Agreement and Plan 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 this Agreement and (the
“Relevant Information”). By entering into this Agreement and Plan, the Optionee (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives
any privacy rights the Optionee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant
Information to any jurisdiction in which the Relevant Companies consider appropriate. The Optionee shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law.

 12. Trading Policy Restrictions. 

(a) Exercise of this Stock Option and the disposition of any Shares issued in connection therewith shall be subject to the Company’s
insider trading policies and procedures, and all applicable laws regarding insider trading, restriction on exercise and sale of the Shares as in effect and applicable to Optionee from time to time. In addition, Optionee acknowledges receipt of the
Company’s policy permitting certain individuals to sell shares and exercise options only during certain “window” periods and the Company’s insider trading policy, in effect from time to time. 

  
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 (b) In accordance with the provisions of Article L.621-18-2 of the French Monetary and Financial Code, the exercise of this Stock Option and the disposition of any Shares issued in connection therewith 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 French Autorité des
Marchés Financiers be informed, with a copy sent to the Company, within the timeframe laid down in the regulations currently in force (currently within five (5) trading days). 

13. Claw Back. For US employees, any amounts paid (or shares of Common Stock granted) under this Stock Option will be subject to
recoupment in accordance with any clawback policy that the Company is required to adopt pursuant to the listing standards of any national securities exchange or association on which the Company’s securities are listed or as is otherwise
required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable law. No recovery of compensation under such a clawback policy will be an event giving rise to a right to resign for “good reason” or
“constructive termination” (or similar term) under any plan of or agreement with the Company. 
 14. Governing Law. This
Agreement and Plan are 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. 
 15. Certain Definitions. 

(a) “Board” means the Board of Directors of the Company, or as context requires, the group then responsible for
administration of this Stock Option and/ this Agreement and Plan at the relevant time (i.e., either the Board or a committee or committees of the Board, as applicable) or delegated relevant administrative authority with respect to this Agreement and
Plan and/or this Stock Option. 
 (b) “Cause” shall mean, unless otherwise provided in an employment agreement
between a Group Company and the Optionee, as determination by the Group COmpany to dismiss the Optionee as a result of the Optionee’s gross negligence or willful misconduct. Such definition may be adapted from time to time depending on any
local applicable laws defining “cause” in terms comparable to Cause. 
 For the sake of clarity, it is specified that for: 

 

	 	•	 	 U.S. employees, “Cause” shall mean, (i) the Optionee’s dishonest statements or acts with
respect to the Company or any Subsidiary or affiliate of the Company, or any of the Company or any Subsidiary’s current or prospective customers, suppliers vendors or other third parties with which such entity does business; (ii) the
Optionee’s commission of (A) a felony or (B) any misdemeanor involving moral turpitude, deceit, dishonesty or fraud; (iii) the Optionee’s gross negligence or willful misconduct with respect to the

  
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Company or any Subsidiary or affiliate of the Company; or (iv) the Optionee’s material violation of any provision of any agreement(s) between the Optionee and the Company (or any
Subsidiary of the Company) relating to noncompetition, nondisclosure and/or assignment of inventions; 

  

	 	•	 	French employee, “Cause” shall mean the Optionee’s (i) gross negligence “faute grave” as this notion is determined by the labor division of the French Cour de
cassation or (ii) willful misconduct “faute lourde” as this notion is determined by the labor division of the French Cour de cassation. 

(c) “Code” means the U.S. Internal Revenue Code of 1986, as amended 

(d) “Continuous Service” means that the Optionee’s service with a Group Company, whether as an employee or
Director, is not interrupted or terminated. A change in the capacity in which the Optionee renders service to a Group Company as an employee or Director or a change in the entity for which the Optionee renders such service, provided that there is no
interruption or termination of the Optionee’s service with the a Group Company, will not terminate the Optionee’s Continuous Service; provided, however, that if the entity for which the Optionee is rendering services ceases
to qualify as a Group Company, as determined by the Board, in its sole discretion, the Optionee’s Continuous Service will be considered to have terminated on the date such entity ceases to qualify as a Group Company. To the extent permitted by
law, the Board or the chief executive officer of the Company, in that party’s sole discretion, may determine whether Continuous Service will be considered interrupted in the case of (i) any leave of absence approved by the Board or chief
executive officer, including sick leave, military leave or any other personal leave, or (ii) transfers between the Company, a Subsidiary, or their successors. Notwithstanding the foregoing, a leave of absence will be treated as Continuous
Service for purposes of vesting only to such extent as may be provided in the Company’s leave of absence policy, in the written terms of any leave of absence agreement or policy applicable to the Optionee, or as otherwise required by law. In
addition, to the extent required for exemption from or compliance with Section 409A of the Code, the determination of whether there has been a termination of Continuous Service will be made, and such term will be construed, in a manner that is
consistent with the definition of “separation from service” as defined under Treasury Regulation Section 1.409A-1(h) (without regard to any alternative definition thereunder). 

(e) “Director” shall mean a member of the Board of Directors of the Company. 

(f) “Disability” means the inability of the Optionee to engage in any substantial gainful activity by reason of any
medically determinable physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuous period of not less than 12 months, and will be determined by the Board on the basis of such
medical evidence as the Board deems warranted under the circumstances. Such definition may be adapted from time to time depending on any local applicable laws defining “disability” in terms comparable to Disability. 

  
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 For the sake of clarity, it is specified that for (i) U.S. employees, Disability shall have
the meaning ascribed to it in Sections 22(e)(3) and 409A(a)(2)(c)(i) of the Code or as determined under any applicable company long-term disability plan and (ii) French employees, Disability shall have the meaning ascribed to it in
Article L.341.4 of the French Social Security Code. 
 (g) “Group” means the Company and its Subsidiaries. 

(h) “Group Company” means a company of the Group. 

(i) “Retirement” means (i), if the Optionee is a U.S. employee of a Group Company, termination of Continuous Service after
attainment of age 62 or (ii), in respect of Optionee other than U.S. employee of a Group Company, termination of Continuous Service due to retirement as decided by the Optionee or by the Group Company as provided for under any applicable law. 

(j) “Subsidiary” means, with respect to the Company, (i) any corporation of which more than 50 percent of the
outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether, at the time, stock of any other class or classes of such corporation will have or might have voting
power by reason of the happening of any contingency) is at the time, directly or indirectly, owned by the Company, and (ii) any partnership, limited liability company or other entity in which the Company has a direct or indirect interest
(whether in the form of voting or participation in profits or capital contribution) of more than 50 percent. 
 (k)
“Takeover” has the meaning provided in Article L.233-3 of the French Code. Such definition may be adapted from time to time depending on any local applicable laws defining
“takeover” in terms comparable to Takeover. For the avoidance of doubt, it is specified that a Takeover for a U.S. Optionee also complies with the definition of “change of control” under Section 409A of the Code. 

16. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or
delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. The Company may, in its sole discretion, decide to deliver any documents
related to participation in this Agreement and Plan and this Stock Option by electronic means or to request the Optionee’s consent to participate in this Agreement and Plan by electronic means. By accepting this Stock Option, the Optionee
consent to receive such documents by electronic delivery and to participate hereunder through an on-line or electronic system established and maintained by the Company or another third party designated by the
Company from time-to-time. 

  
 - 10 -EX-4.15

 Exhibit 4.15 

2017 FREE SHARE PLAN 

REGULATION 

 TABLE OF CONTENTS 

 

							
	 1.
	 	Definitions	  	 	3	 
	 2.
	 	Shares Covered by Regulation 2017	  	 	5	 
	 3.
	 	Administration of Regulation 2017	  	 	5	 
	 4.
	 	Limitations	  	 	6	 
	 5.
	 	Term of Regulation 2017	  	 	6	 
	 6.
	 	Free Shares Award	  	 	6	 
	 7.
	 	Criteria and Conditions of Award	  	 	7	 
	 8.
	 	Calendar for the Free Shares Award	  	 	8	 
	 9.
	 	Adjustments	  	 	11	 
	 10.
	 	Intervening Transactions	  	 	11	 
	 11.
	 	Amendment of Regulation 2017 – Management	  	 	12	 
	 12.
	 	Tax and Social Security Rules	  	 	12	 
	 13.
	 	Specific Restrictions and Information	  	 	12	 
	 14.
	 	Responsibility of the Company	  	 	13	 
	 15.
	 	Applicable Law, Jurisdiction	  	 	13	 

  
  

  
 2 

 2017 FREE SHARE PLAN 

REGULATION 2017 
 Based on the
authorization granted by the combined general meeting on September 21,2015 the Board of Directors of DBV Technologies (the “Company”) decided, at its meeting on March 14, 2017 in accordance with Articles L.225-197-1 to L.225-197-5 of the Commercial Code, to adopt a regulation (“2017 FREE
SHARE Regulation”) for the purpose of awarding free shares in the Company to Eligible Persons (as defined below), which bylaw will govern the awarding of free shares, and the terms and conditions of which are set out below. 

1. DEFINITIONS 
  

	(a)	“Share” means a share of the Company; 

  

	(b)	“Free Share Allocation” means the free share allocation on the terms and conditions set out in Regulation 2017; 

  

	(c)	“Shareholders’ Authorization” means the authorization to allocate shares free of charge granted to the Board of Directors by the shareholders of the Company at the extraordinary combined
general meeting on September 21, 2015; 

  

	(d)	“Beneficiary” means an Eligible Person to whom at least one Share has been allocated free of charge in accordance with Regulation 2017; 

 

	(e)	“Change of Control” means the completion of any transaction that has the effect of bringing about a change in the Control of the Company. The term “Control” has the meaning given
to it in Article L.233-3 of the Commercial Code; 

  

	(f)	“Award Date” means the date on which the Board of Directors grants the Free Share Allocation and constitutes the date on which the Acquisition Period commences; 

 

	(g)	“Eligible Person” means an officer (President, director general, or deputy director general of the Company) or employee of the Company or an Affiliate Company who meets the conditions set
out in Articles L.225-197-1 and L.225-197-2 of the Commercial Code and satisfies the
conditions and criteria for the award established by the Board of Directors in its decision of March 14, 2017 and set out in Article 7 of Regulation 2017; 

  
 3 

	(h)	“Manager” means the Board of Directors of the Company that administers Regulation 2017 in accordance with Article 3 of Regulation 2017; 

 

	(i)	“Disability” means a disability on the part of the Beneficiary that corresponds to classification in the second or third category provided in Article L.341-4 of
the Social Security Code; 

  

	(J)	“Regulation 2017” means this 2017 Free Share Plan as adopted by the Manager on March 14, 2017. 

  

	(k)	“Employee” means a natural person who is employed by the Company (or any Affiliated Company) and is subject to the power of control and direction of the employer entity in the performance and
conduct of the work to be carried out; 

  

	(l)	“Company” means DBV Technologies, a limited company incorporated under French law; 

  

	(m)	“Affiliated Company” means a company that meets the criteria set out in Article L.225-197-2 of the Commercial Code:

  

	 	•	 	companies of which at least ten percent (10%) of the capital or voting rights are held, directly or indirectly, by the Company; 

 

	 	•	 	companies that hold, directly or indirectly, at least ten percent (10%) of the capital or voting rights of the Company; and 

 

	 	•	 	companies of which at least fifty percent (50%) of the capital or voting rights are held, directly or indirectly, by a company that itself holds, directly or indirectly, at least fifty percent (50%) of the
capital or voting rights of the Company. 

  
 4 

 2. SHARES COVERED BY REGULATION 2017 

According with the Shareholders’ Authorization, the board of directors will decide to allocate Free Shares during its meeting to the beneficiaries listed
in the minutes of the Board meeting. The number of Free Shares allocated by the Company, will consider all the previous Free Shares Plans, remains below 10% of the share capital. 

3. ADMINISTRATION OF REGULATION 2017 
  

	 	(a)	Administration 

 Regulation 2017 will be administered by the Manager. 

 

	 	(b)	Powers of the Manager 

 Within the limits of the Commercial Code, the Shareholders’ Authorization
and Regulation 2017, the Manager will have discretion to: 
  

	 	i.	determine the Eligible Persons to whom Shares will be allocated free of charge and decide the number of bonus Shares to be awarded to each of them; 

 

	 	ii.	determine the terms and conditions of any Free Share Allocation; 

  

	 	iii.	analyze and interpret the terms of Regulation 2017; 

  

	 	iv.	decide to change or cancel any rule in Regulation 2017, within the limits prescribed by law; 

  

	 	v.	make any necessary or advisable decision in the course of executing Regulation 2017. 

  
 5 

	 	(c)	Effects of Decisions of the Manager 

 The decisions and interpretations of the Manager are final and
binding on all Beneficiaries. 
 4. LIMITATIONS 
  

	(a)	The Shares allocated free of charge are governed by Articles L.225-197-1 to
L.225-197-5 of the Commercial Code. They do not in any way constitute a component of the contract of employment or office or compensation of the Beneficiary.

 Neither Regulation 2017 nor any Share allocated free of charge confers a right on the Beneficiary to remain in employment in the
Company or an Affiliated Company, or in office in the Company. Moreover, they do not in any event limit the right that the Beneficiary, the Company, or an Affiliated Company, as the case may be, may have to terminate such
employment or office in any circumstance, with or without cause. 
  

	(b)	In accordance with Article L.225-197-1 of the Commercial Code, no Share may be allocated free of charge to an Eligible Person who, at the
time of allocation the Share, directly holds more than 10% of the capital of the Company, or for whom the effect of the award would be to increase his/her participation to more than 10% of the capital of the Company. 

5. TERM OF REGULATION 2017 
 Relying on the
authorization and powers granted to it by the General Shareholders’ Meeting on September 21, 2015, the Board of Directors, in its decision dated March 14, 2017 decided to adopt Regulation 2017, which came into effect on
March 14, 2017. Unless it is cancelled early in accordance with the provisions of Article 11, Regulation 2017 will remain in effect until the expiration of the Retention Period for the last Share allocated free of charge. 

6. BONUS SHARE AWARD 
 (a)
Decision to award 
 The Manager will decide during Board of Directors meetings to allocate free shares to the new DBV Technologies S.A.’s employees
according a fixed ratio. 

  
 6 

 (b) Award of Shares and Acceptance by Beneficiaries 

Each Eligible Person will be informed of the Free Share Allocation by a notification letter setting out, in particular, (i) the number of Shares allocated
free of charge to him/her, (ii) the term of the Acquisition Period, (iii) the term of the Retention Period, (iv) the conditions and criteria to be met in order for the award to become definitive at the end of the Acquisition Period,
and (v) any obligation imposed on him/her. A copy of Regulation 2017 will be attached to the notification letter. A sample notification letter is set out in an Appendix to Regulation 2017. 

The notification letter will be sent to the Beneficiary by registered mail with acknowledgement of receipt or delivered by hand to the Beneficiary by the
Manager or by any duly authorized person, and the Beneficiary will acknowledge receipt. 
 In the event that the Beneficiary would like to take up the Free
Share Allocation, he/she must make his/her acceptance known to the Company by sending the second copy of the notification of the Free Share Allocation to the Company, addressed to the Manager, by registered mail with acknowledgement of
receipt or by hand, signed by him/her under the notation “Good for acceptance,” within thirty (30) days of receipt of the notification of the Free Share Allocation. 

Otherwise, the Free Share Allocation will be null and void. 

Acceptance of Regulation 2017 by a Beneficiary constitutes acceptance of all of its terms. 

7. CRITERIA AND CONDITIONS OF AWARD 
  

The Share award presumes that each Beneficiary meets the following conditions and criteria, which were decided by the Board of Directors in its decision dated
March 14, 2017, and which have been brought to the attention of the Beneficiaries by individual letter: 
  

	 	•	 	the Beneficiary must continue to be an Eligible Person throughout the entire Acquisition Period. 

  

	 	•	 	Share awards will be definitive only on the condition that the following performance criteria are met: 

  

	 	•	 	Half of the Shares allocated will not be acquired until the later of the following two dates: (i) the end of the two (2)-year acquisition period which runs from Grant date and (ii) submission of the
application for market authorization from the FDA for Viaskin Peanut. 

  
 7 

	 	•	 	Half of the Shares allocated will not be acquired until the later of the following two dates: (i) the end of the two (2)-year acquisition period which runs from Grant date and (ii) the first date of sale of
Viaskin Peanut in the United States. 

 8. CALENDAR FOR THE BONUS SHARE AWARD 

(a) Acquisition Period 
 The Free Share
Allocation to Beneficiaries will become definitive only at the end of an Acquisition Period of a minimum of two (2) years from the allocation date, or, on the terms set out in Article 7, on the condition that, throughout the entire Acquisition
Period, the Beneficiary has continued to be an Eligible Person. 
 In accordance with Article L.225-197-3 of the Commercial Code, the rights resulting from the Free Share Allocation may not be assigned or transferred by any method whatsoever until the end of the Acquisition Period. However, in the
event of the death of the beneficiary, his/her heirs may request that the shares be awarded within six months from the date of death. 
 The definitive
award is subject to an attendance requirement that is determined in accordance with the precise terms and conditions below. In order to be Eligible, beneficiaries must therefore have a relationship with the Company or an Affiliated Company,
throughout the entire Acquisition Period, by virtue of an office and/or a contract of employment. 
 Accordingly, in the event of resignation,
voluntary or involuntary retirement, termination of the Beneficiary’s contract of employment by mutual agreement with the company concerned, dismissal, removal, or non-renewal of the
Beneficiary’s office, during the Acquisition Period, for any cause whatsoever, the Beneficiary would, unless otherwise first decided by the Manager, lose all rights to the Free Share Allocation and could make no claim for compensation in that
regard. 
  

	 	•	 	Dismissal of the Beneficiary and/or removal and/or non-renewal of the Beneficiary’s offices during the Acquisition Period: 

 

	 	•	 	If the Beneficiary has only a contract of employment, the loss of the right to the Free Share Allocation will take place on the date of receipt (or first presentation) of the letter of
notification of dismissal, notwithstanding (i) any notice requirement, whether or not it has been given; (ii) any dispute by the beneficiary of his/her dismissal and/or the reasons for the dismissal, and (iii) any judicial decision
setting aside the dismissal. 

  
 8 

	 	•	 	If the Beneficiary has only an office, the loss of the right to the Free Share Allocation will take place on the date of the meeting of the corporate body at which the removal was decided or the Beneficiary was
replaced as the office holder, if the beneficiary is a member of it, and if the Beneficiary is not a member of it, as of the date on which notice of the decision is received by the Beneficiary, notwithstanding (i) any notice requirement,
whether or not it has been given; (ii) any dispute by the beneficiary of his/her removal and/or the reasons for the removal, and (iii) any judicial decision setting aside the removal. 

 

	 	•	 	If the Beneficiary has both a contract of employment and an office and, in the event of the simultaneous or successive loss of both positions, the loss of the right to the Free Share
Allocation will take place on the date of receipt of the latter of the two notices referred to in the two preceding paragraphs. 

  

	 	•	 	Resignation during the Acquisition Period: 

 In the event of the resignation of the Beneficiary from
his/her position as an employee, if the Beneficiary is an employee only, or as an officer, if the Beneficiary is an officer only, or in the event of simultaneous or successive resignation from his/her position as an employee and as an officer, in
the event that the Beneficiary holds both positions at the same time, the loss of the right to the Free Share Allocation will take place: 
  

	 	•	 	if the Beneficiary is only an employee or an officer, on the date of receipt by the Company of the Beneficiary’s letter of resignation or on the date on which it is delivered by hand to an authorized
representative of the Company that employs him/her; and 

  

	 	•	 	if the Beneficiary holds positions as both an employee and an officer, the date of receipt by the Company of the first of the letters of resignation, or the date on which it is delivered by hand to an
authorized representative of the Company that employs him/her. 

 notwithstanding any notice requirement, whether or not it has been
given. 
  

	 	•	 	Mutual agreement between the Beneficiary and the company that employs him/her during the Acquisition Period: 

  
 9 

 In the event of termination of the contract of employment by mutual agreement between the Beneficiary and
the company that employs him/her (including in the case of contractual termination) if the Beneficiary is only an employee, or in the case of termination of the contract of employment by mutual agreement between the Beneficiary and
the company that employs him/her and the simultaneous or successive resignation or removal from his/her office, in the event that the Beneficiary holds both positions at the same time, the Beneficiary would lose his/her right to the Free
Share Allocation on the first date on which the agreement terminating the Beneficiary’s position as an employee is signed (or on which the agreement relating to the contractual termination is made), or the date of receipt of the notification of
removal from office or the date of resignation from office. 
  

	 	•	 	Retirement of the Beneficiary during the Acquisition Period; 

 In the event that the Beneficiary retires
during the Acquisition Period, the Beneficiary will lose his/her right to the Free Share Allocation on the date of retirement. 
 However, by exception to
the foregoing: 
  

	(i)	in the event of the involuntary retirement of the Beneficiary at the initiative of the company that employs him/her during the Acquisition Period, in accordance with the applicable statutory and regulatory
requirements, the Beneficiary will retain his/her right to the Free Share Allocation, on the condition that he/she adheres to the Acquisition Period; 

  

	(ii)	in the event of the death of the Beneficiary during the Acquisition Period, his/her heirs may request the Free Share Allocation within six (6) months of the death; 

 

	(iii)	in the event of disability, the Beneficiary may request that the Shares be awarded within six (6) months of the event that resulted in the disability. 

It is specified that during the Acquisition Period, the Beneficiaries are not the owners of the Shares and have no shareholder’s rights. In particular,
they do not have the right to dividends, the right to vote, or the right to the information communicated to shareholders attached to the Shares. 

(b) Delivery of the Shares 
 At the end of
the Acquisition Period, the Company will, on the condition that the Beneficiary has adhered to the conditions and criteria of acquisition set out in Article 7 above, transfer to the Beneficiary the number of Shares decided by the Board of
Directors. 

  
 10 

 The shares awarded will immediately be treated in the same manner as the existing shares and will carry immediate
dividend rights. 
 (c) No Share Retention Period 

As soon as free shares vest to the beneficiaries they may be sold, subject to the regulations governing companies whose shares are traded on a regulated
market. Free shares allocated to the beneficiaries are new ordinary shares and will immediately have the same rights as existing shares. 
 9.
ADJUSTMENTS 
 The Manager will be the only person with authority to decide, where applicable, the conditions on which the number of bonus Shares
awarded will be adjusted in the event of transactions involving the capital of the Company in order to preserve the rights of the Beneficiaries of the said Free Share Allocations. 

10. INTERVENING TRANSACTIONS 
 (a) Take over of
control 
 In the event of a takeover of control and by derogation from the provisions of Articles 7 and 8 of this regulation, the beneficiaries will
remain eligible for the allocation at the end of the vesting period, even if their employment contract and/or corporate mandate is terminated, for any reason, between the date of the takeover and the last day of the vesting period. In this specific
case, the shares will vest with no requirement to wait for the plan’s performance criteria to be met. 
 (b) Exchange of Shares 

In the event of an exchange of shares resulting from a merger or split carried out in accordance with the regulations in force during the acquisition period,
the provisions of this Article and, in particular, the above-mentioned periods, for the times remaining to run on the date of the exchange, will continue to be applicable to the rights to the award and the shares received in exchange. 

  
 11 

 11. AMENDMENT OF REGULATION 2017—MANAGEMENT 

(a) Amendment 
 The Manager may, at any
time, amend the provisions of, suspend, or terminate Regulation 2017, on the condition that it is done in compliance with the law. 
 (b)
Consequences of Amendment or Cancellation 
 No amendment, alteration, suspension, or cancellation of Regulation 2017 may reduce the rights of a
Beneficiary without his/her agreement, unless such amendment results from a legislative or regulatory provision that has newly come into force or from any other provision that has executory effect and is mandatory for the Company or an
Affiliated Company. 
 (c) Management 

The management of Regulation 2017 is assigned to the Manager. However, the Manager reserves the ability to assign the management of Regulation 2017 to any
financial institution. The Manager will inform the Beneficiaries by registered letter with acknowledgement of receipt or delivery by hand specifying the name and contact information of the financial institution chosen by the Manager to handle the
management of Regulation 2017. 
 12. TAX AND SOCIAL SECURITY RULES 

The Beneficiary will bear the cost of all taxes and mandatory deductions for which he/she is responsible under the tax regulations in force on the date on
which the taxes or deductions become payable. 
 The Beneficiary is invited to obtain advice about his/her own personal tax situation, in particular in
order to be aware of the tax and social security treatment that will apply to him/her, and the Beneficiary declares that he/she is not in any way relying on any tax or social security advice given by the Company. 

13. SPECIFIC RESTRICTIONS AND INFORMATION 
 Any
person who holds shares of a company must, in general, abstain from transferring them, acquiring new shares, or giving advice concerning those shares if he/she is in possession of information that could have a significant influence on the market
price of the company that has not been made public. Persons who violate those rules may be subject to penal and financial sanctions. Those rules apply to Eligible Persons who receive Shares. 

We invite you to refer to the Code of Ethics adopted by the Company that is online on the Intranet. 

  
 12 

 Moreover, in accordance with Article
L.225-197-1 I of the Commercial Code, the Shares may not be assigned or transferred after the expiration of the Retention Period: 

 

	 	•	 	within ten (10) trading sessions preceding and three (3) trading sessions following the date on which the consolidated accounts or, if none, the annual accounts are made public; 

 

	 	•	 	within the time between the date on which the corporate bodies of the Company have knowledge of information that, if it were made public, could have a significant impact on the market price of the
Company’s shares, and the date ten (10) trading sessions before the date on which the information is made public. 

 A calendar
of publications is distributed annually and is accessible online on the Intranet. 
 In accordance with the provisions of Article L.621-18-2 of the Monetary and Financial Code, the transfer of shares by an officer or any person who has, within the Company, (i) the power to make management
decisions concerning the Company’s activities and strategy, and (ii) regular access to privileged information concerning the Company directly or indirectly requires that information be provided to the Autorité des
Marchés Financiers [financial markets authority], with a copy to the Company, within the time allowed by the regulations in force. 
 15.
LIABILITY OF THE COMPANY 
 The Company and its Affiliated Companies may not, in any way, be held liable if, for any reason whatsoever not
attributable to the Company or its Affiliated Companies, a Beneficiary was not able to acquire the Shares awarded to him/her. 
 16. APPLICABLE LAW,
JURISDICTION 
 Regulation 2017 is governed by French law and in particular by the provisions of Articles L.225-197-1 et seq. of the Commercial Code. 
 Any dispute relating to Regulation 2017 will be within the
exclusive jurisdiction of the court of competent jurisdiction subject to the jurisdiction of the court of appeal in the place in which the head office of the Company is located. 

The Free Share Allocation under Regulation 2017 authorizes the Society, at any time, to ask the Beneficiary to comply with any legislative and regulatory
provision governing the Shares. 
 * * * 

  
 13 

 APPENDIX 

SAMPLE NOTIFICATION LETTER CONCERNING DBV TECHNOLOGIES FREE 

SHARE ALLOCATION 
 Limited
company with share capital of 2,464,882.80 Euros 
 Head office: 177/181 avenue Pierre Brossolette 92 120 Montrouge 

441 772 522 RCS Nanterre 

Montrouge, [date] 

[Name of Beneficiary] 
 Dear
Sir/Madam: 
 We are pleased to inform you that the Board of Directors of the Company has decided to allocate free shares of the Company to
you in accordance with the provisions of the regulation governing the free share plan, a copy of which is attached in an Appendix (“Regulation 2017”). 

The terms that are not defined in this letter and that are capitalized have the meaning assigned to them in Regulation 2017. 

These free Shares have been awarded under the provisions of Articles
L.225-197-1 to L.225-197-5 of the Commercial Code. 

Under the decision of the Board of Directors, you were awarded [    ] ([    ]) free shares of the Company, on
[                ], on the terms set out below. 
 1. Acquisition
Period and conditions 
 The definitive share award will be subject to the following performance conditions: 

 

	 	•	 	Half of the Shares allocated will not be acquired until the later of the following two dates: (i) the end of the two (2)-year acquisition period which runs from today and (ii) submission of the application for
market authorization from the FDA for Viaskin Peanut. 

  

	 	•	 	Half of the Shares allocated will not be acquired until the later of the following two dates: (i) the end of the two (2)-year acquisition period which runs from today and (ii) the first date of sale of Viaskin
Peanut in the United States. 

  
 14 

 2. Conditions and criteria of allocation 

The Free Share Allocation assumes that during the Acquisition Period referred to above, you will meet the following conditions and criteria: 

You must, throughout the Acquisition Period, have a relationship with the Company or an Affiliated Company under an office and/or a contract of
employment. 
 In the event of resignation, voluntary or involuntary retirement, termination of the contract of employment by mutual agreement,
dismissal, removal, or termination of the office, during the Acquisition Period, for any reason whatsoever, you will lose all right to the Free Share Allocation and may claim no compensation in that regard. 

In the event of resignation, the loss of the right to the Free Share Allocation will occur on the date of receipt by the Company or the Affiliated
Company concerned of your letter of resignation or on the date of delivery by hand of the letter to an authorized representative of the company that employs you, notwithstanding any notice requirement, whether or not it has been given. 

In the event of dismissal or removal, the loss of the right to the Free Share Allocation will occur on the date of receipt (or first presentation) of the
letter of notification of dismissal or removal, notwithstanding (i) any notice requirement, whether or not it has been given; (ii) any dispute by you of your dismissal and/or the reasons for the dismissal, and (iii) any judicial
decision setting aside the dismissal. 
 However, by exception to the foregoing, 
  

	(i)	in the event of retirement or dismissal for economic reasons during the Acquisition Period, you will retain your right to the Free Share Allocation; 

 

	(ii)	in the event of death during the Acquisition Period, your heirs may request the Free Share Allocation within six (6) months of the date of your death. 

 

	(iii)	in the event disability during the Acquisition Period, you may request the Free Share Allocation within six (6) months of the date of your disability. 

 

	(iv)	In the event of a takeover of control within the meaning of Article L. 233-3 of the French Commercial Code of DBV Technologies by any person acting alone or in concert with other
persons, the beneficiaries will remain eligible for the allocation at the end of the vesting period, even if their employment contract and/or corporate mandate is terminated, for any reason, between the date of the takeover and the last day of the
vesting period. In this specific case, the shares will vest with no requirement to wait for the plan’s performance criteria to be met. 

At the end of the Acquisition Period, and on the condition that the criteria set out above have been met, the Company will transfer to you the
[    ] ([    ]) Shares referred to above in a specific securities account you have mentioned. 
 You should contact
a Bank (including “Banque Transatlantique”) in order to open such securities account. 

  
 15 

 Accordingly, you will become a shareholder of the Company on that date, Shares will become available and
may, in particular, be freely transferred as the 2017 Free Shares Plan has no retention period. 
 Your acceptance of the Free Share Allocation on the terms
set out above constitutes acceptance of the terms of Bylaw 2017. 
 In the event that you accept the Free Share Allocation, we would appreciate it if
you would sign two copies of this notification of Free Share Allocation and keep one copy and return the other to the Company by registered letter or delivered by hand in a period of 30 days from the receipt of this letter. Otherwise, the
award will be void. 
  

	
	Sincerely yours,
	
	Pierre-Henri Behnamou

  

	
	Good for acceptance
	
	[Name of Beneficiary]
	
	Encl.: Regulation 2017

  
 16

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