Document:

exv10w3

 

Exhibit 10.3

EMPLOYMENT AGREEMENT

     This Employment Agreement (“Agreement”) is entered into effective as of July 7, 2005 by and
between The Shaw Group Inc., a Louisiana corporation (collectively with its affiliates and
subsidiaries hereinafter referred to as “Company”), and Ebrahim Fatemizadeh (“Employee”).

     WHEREAS, the Company employs Employee and desires to continue such employment relationship and
Employee desires to continue such employment;

     NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties, and
agreements contained herein, and for other valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the parties agree as follows:

     1.    Employment. The Company hereby employs Employee, and Employee hereby accepts
employment by the Company, on the terms and conditions set forth in this Agreement.

     2.    Term of Employment. Subject to the provisions for earlier termination provided in
this Agreement, the term of this agreement (the “Term”) shall be two (2) years commencing on the
date hereof, and shall be automatically renewed on each day following the date hereof so that on
any given day the unexpired portion of the Term of this Agreement shall be two (2) years.
Notwithstanding the foregoing provision, at any time after the date

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hereof the Company or Employee may give written notice to the other party that the Term of
this Agreement shall not be further renewed from and after a subsequent date specified in such
notice (the “fixed term date”), in which event the Term of this Agreement shall become fixed and
this Agreement shall terminate on the second anniversary of the fixed term date.

     3.    Employee’s Duties. During the Term of this Agreement, Employee shall continue to
serve as the President of the Energy and Chemicals Division of the Company or such other similar
position, with such duties and responsibilities as may from time to time be assigned to him by the
Board of Directors of the Company (the “Board”), or the Chief Executive Officer, as the case may
be, provided that such duties are consistent with the customary duties of such position.

     Employee agrees to devote his full attention and time during normal business hours to the
business and affairs of the Company and to use reasonable best efforts to perform faithfully and
efficiently his duties and responsibilities. Employee shall not, either directly or indirectly,
enter into any business or employment with or for any person, firm, association or corporation
other than the Company during the Term of this Agreement; provided, however, that Employee shall
not be prohibited from making financial investments in any other company or business or from
serving on the board of directors of any other company. Employee shall at all times observe and
comply with all lawful directions and instructions of the Board.

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     4.    Compensation.

     a) For services rendered by Employee under this Agreement, the Company shall pay to Employee a
base salary (“Base Compensation”) of $375,000.00 per annum payable in accordance with the Company’s
customary pay periods and subject to customary withholdings. The amount of Base Compensation may be
reviewed by the Board on an annual basis as of the close of each fiscal year of the Company and may
be increased as the Board may deem appropriate. In the event the Board deems it appropriate to
increase Employee’s annual base salary, said increased amount shall thereafter be the “Base
Compensation”. Employee’s Base Compensation, as increased from time to time, may not thereafter be
decreased unless agreed to by Employee. Nothing contained herein shall prevent the Board from
paying additional compensation to Employee in the form of bonuses or otherwise during the Term of
this Agreement.

     b) Employee will participate in company’s annual bonus plan, with performance bonus of
minimum 25% and potential of 200% of Employee’s Base Compensation.

     5.    Additional Benefits. In addition to the Base Compensation provided for in Section
4 herein, Employee shall be entitled to the following:

     (a) Expenses. The Company shall, in accordance with any rules and
policies that it may establish from time to time for executive officers, reimburse
Employee for business expenses

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reasonably incurred in the performance of his duties. It is understood that
Employee is authorized to incur reasonable business expenses for promoting the
business of the Company, including reasonable expenditures for travel, lodging,
meals and client or business associate entertainment. Request for reimbursement for
such expenses must be accompanied by appropriate documentation.

     (b) Vacation. Employee shall be entitled to three (3) weeks of
vacation per year, without any loss of compensation or benefits. Employee shall be
entitled to carry forward any unused vacation time.

     (c) General Benefits. Employee shall be entitled to participate in the
various employee benefit plans or programs provided to the employees of the company
in general, including but not limited to, health (including ExecuCare), dental,
disability, 401K and life insurance plans, subject to the eligibility requirements
with respect to each of such benefit plans or programs, and such other benefits or
perquisites as may be approved by the Board during the Term of this Agreement.
Nothing in this paragraph shall be deemed to prohibit the Company from making any
changes in any of the plans, programs or benefits

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described in this Section 5, provided the change similarly affects all
executive officers of the Company similarly situated.

     (d) Long Term Incentive Awards. Upon the resignation for Good Reason
as defined in Section 7 (e), discharge as defined in Section 7 (c) (i), or
disability as defined in Section 7 (d), Employee shall be considered as immediately
and totally vested in any and all stock options, restricted stock or other similar
awards previously made to Employee by the Company or its subsidiaries under a “Long
Term Incentive Plan” duly adopted by the Board (such options or similar awards are
hereinafter collectively referred to as “Options”). In the event that the Options
become vested under this paragraph, employee will be allowed not less than one year
from the date of such vesting in which to exercise such options.

     6.    Confidential Information. Employee, during the Term, may have access to and become
familiar with confidential information, secrets and proprietary information concerning the business
and affairs of the Company. As to such confidential information, Employee agrees as follows:

     (a) During the employment of Employee with the Company and thereafter Employee
will not, either directly or indirectly, disclose to any third party without the
written permission of the Company, nor use in any way (except as required

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in the course of his employment with the Company) any confidential information,
secret or proprietary information of the Company. In the event of a breach or
threatened breach of the provisions of this Section 6 (a), the Company shall be
entitled, in addition to any other remedies available to the Company, to an
injunction restraining Employee from disclosing such confidential information.

     (b) Upon termination of employment of Employee, for whatever reason, Employee
shall surrender to the Company any and all documents, manuals, correspondence,
reports, records and similar items then or thereafter coming into the possession of
Employee which contain any confidential, secret or proprietary information of the
Company.

     7.    Termination. This Agreement may be terminated prior to the end of its Term as set
forth below:

     (a) Resignation (other than for Good Reason). Employee may resign,
including by reason of retirement, his position at any time by providing written
notice of resignation to the Company in accordance with Section 11 hereof. In the
event of such resignation, except in the case of resignation for Good Reason (as
defined below), this Agreement shall terminate and Employee shall not be entitled to
further compensation pursuant to this

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Agreement other than the payment of any unpaid Base Compensation accrued
hereunder as of the date of Employee’s resignation.

     (b) Death. If Employee’s employment is terminated due to his death, any
benefit payable pursuant to the Company’s benefit plans will be paid to Employee’s
surviving spouse or estate, and one (1) year of paid group health and dental
insurance benefits shall be provided by the Company to Employee’s surviving spouse
and the minor children, and after said payments and provision of insurance benefits,
this Agreement shall terminate and the Company shall have no obligations to Employee
or his legal representatives with respect to this Agreement other than the payment
of any unpaid Base Compensation previously accrued hereunder.

     (c) Discharge.

     (i) The Company may terminate Employee’s employment for any reason at
any time upon written notice thereof delivered to Employee in accordance
with Section 11 hereof. In the event that Employee’s employment is
terminated during the Term by the Company for any reason other than his
Misconduct or Disability (both as defined below), then (A) the Company shall
pay in lump sum in cash

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to Employee, within fifteen (15) days following the date of
termination, an amount equal to the product of (i) Employee’s Base
Compensation as in effect immediately prior to Employee’s termination,
multiplied by (ii) the Remaining Term, (B) for the Remaining Term, the
Company, at its cost, shall provide or arrange to provide Employee (and, as
applicable, Employee’s dependents) with disability, accident and group
health insurance benefits substantially similar to those which Employee (and
Employee’s dependents) were receiving immediately prior to Employee’s
termination; however, the welfare benefits otherwise receivable by Employee
pursuant to this clause (B) shall be reduced to the extent comparable
welfare benefits are actually received by Employee (and/or Employee’s
dependents) during such period under any other employer’s welfare plan(s) or
program(s), with Employee being obligated to promptly disclose to the
Company any such comparable welfare benefits, (C) in addition to the
aforementioned compensation and benefits, the Company shall pay in lump sum
in cash to Employee within fifteen (15) days following the date of
termination an amount equal to the product of (i) Employee’s highest bonus
paid by the Company during the

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most recent two (2) years immediately prior to the Date of Termination,
multiplied by (ii) the Remaining Term, and (D) Employee shall be considered
as immediately and totally vested in any and all options previously made to
Employee by Company or its subsidiaries.

     (ii) Notwithstanding the foregoing provisions of this Section 7, in the
event Employee is terminated because of Misconduct, the Company shall have
no obligations pursuant to this Agreement after the Date of Termination
other than the payment of any unpaid Base Compensation accrued through the
Date of Termination. As used herein, “Misconduct” means (a) the continued
failure by Employee to substantially perform his duties with the Company
(other than any such failure resulting from Employee’s incapacity due to
physical or mental illness, (b) the engaging by Employee in conduct which
is demonstrably and materially injurious to the Company, monetarily or
otherwise, or (c) the misappropriation or attempted misappropriation of a
material business opportunity of the Company, including attempting to secure
any personal profit in connection with entering into any transaction on
behalf of the Company, (d) the intentional misappropriation or attempted

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misappropriation of any of the Company’s funds or property; or (e)
commission of a felony or engaging in any other conduct involving fraud or
dishonesty which is demonstrably injurious to the Company. Anything
contained in this Agreement to the contrary notwithstanding, the Chief
Executive officer of the Company shall have the sole power and authority to
terminate the employment of Employee on behalf of the Company.

     (d) Disability. If Employee shall have been absent from the
full-time performance of Employee’s duties with the Company for ninety (90)
consecutive calendar days as a result of Employee’s incapacity due to physical or
mental illness, Employee’s employment may be terminated by the Company for
“Disability” and Employee shall not be entitled to further compensation pursuant to
this Agreement, except that Employee shall (1) be paid monthly (but only for up to a
twelve (12) month period beginning with the Date of Termination) the amount by which
Employee’s monthly Base Compensation exceeds the monthly benefit received by
Employee pursuant to any disability insurance covering Employee; (2) continue to
receive paid group health and dental insurance benefits for Employee and his
dependents for up to twelve (12) month period beginning with Date of Termination;
and

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(3) be considered as immediately and totally vested in any and all Long Term
Incentive Awards previously granted to Employee by Company or its subsidiaries.

     (e) Resignation for Good Reason. Employee shall be entitled to
terminate his employment for Good Reason as defined herein. If Employee terminates
his employment for Good Reason he shall be entitled to the compensation and benefits
provided in Paragraph 7 (c) (i) hereof. “Good Reason” shall mean the occurrence of
any of the following circumstances without Employee’s express written consent unless
such breach or circumstances are fully corrected prior to the Date of Termination
specified in the Notice of Termination given in respect hereof:

     (1) the material breach of any of the Company’s obligations under this
Agreement without Employee’s express written consent,

     (2) the continued assignment to Employee of any duties inconsistent
with his position;

     (3) the failure by the Company to pay to Employee any portion of
Employee’s compensation on the date such compensation is due;

     (4) the failure by the Company to continue to provide Employee with
benefits substantially similar to those enjoyed

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by other executive officers who have entered into similar employment
agreements with Employer under any of the Company’s medical, health,
accident, and/or disability plans in which Employee was participating
immediately prior to such time; or

     (5) the failure of the Company to obtain a satisfactory agreement from
any successor to assume and agree to perform this Agreement, as contemplated
in Section 13 hereof.

     In addition, the occurrence of any Corporate Change (as defined below), shall
constitute “Good Reason” hereunder, but only if Employee gives notice of his intent
to terminate his employment within ninety (90) days following the effective date of
such Corporate Change.

     A “Corporate Change” shall occur if (i) in the event a) Company shall not be
the surviving entity in any merger or consolidation (or survives only as a
subsidiary of another entity), or (b) the Company sells all or substantially all of
its assets to any other person or entity (other than a wholly-owned subsidiary) and
in either event you are not retained in your position or comparable position, or
(ii) the Company is dissolved and liquidated.

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     (f) Notice of Termination. Any purported termination of Employee’s
employment by the Company under Sections 7(c)(ii) or 7(d), or by Employee under
Section 7(e), shall be communicated by written Notice of Termination to the other
party hereto in accordance with Section 11 hereof. For purposes of this Agreement, a
“Notice of Termination” shall mean a notice which, if by the Company and is for
Misconduct or Disability, shall set forth in reasonable detail the reason for such
termination of Employee’s employment, or in the case of resignation by Employee for
Good Reason, said notice must specify in reasonable detail the basis for such
resignation. A Notice of Termination given by Employee pursuant to Section 7(e)
shall be effective even if given after the receipt by Employee of notice that the
Board has set a meeting to consider terminating Employee for Misconduct. Any
purported termination for which a Notice of Termination is required which is not
effected pursuant to this Section 7(f) shall not be effective.

     (f) Date of Termination, Etc. “Date of Termination” shall mean the
date specified in the Notice of Termination, provided that the Date of Termination
shall be at least 15 days following the date the Notice of Termination is given.
Notwithstanding the foregoing, in the event Employee is terminated for Misconduct,
the Company may refuse to allow Employee access to the Company’s offices

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(other than to allow Employee to collect his personal belongings under the
Company’s supervision) prior to the Date of Termination.

     (g) [Mitigation.] Employee shall not be required to mitigate the
amount of any payment provided for in this Section 7 by seeking other employment or
otherwise, nor shall the amount of any payment provided for in this Agreement be
reduced by any compensation earned by Employee as a result of employment by another
employer, except that any severance amounts payable to Employee pursuant to the
Company’s severance plan or policy for employees in general shall reduce the amount
otherwise payable pursuant to Sections 7(c)(i) or 7(e).

     (h) [Excess Parachute Payments.] Notwithstanding anything in this
Agreement to the contrary, to the extent that any payment or benefit received or to
be received by Employee hereunder in connection with the termination of Employee’s
employment would, as determined by tax counsel selected by the Company, constitute
an “Excess Parachute Payment” (as defined in Section 280G of the Internal Revenue
Code), the Company shall fully “gross-up” such payment so that Employee is in the
same “net” after-tax position he would have been if such payment and gross-up
payments had not constituted Excess Parachute Payments.

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     8.    Non-Compete.

     8.1   No Other Activities. Employer agrees that during the term of this Agreement, he
shall not, directly or indirectly, represent or otherwise engage in or participate in, the business
or ventures of any person, firm, partnership, association, or corporation other than the Company,
without first obtaining the written consent of the Company. Employee further agrees that during
the term of this Agreement, he shall not, directly or indirectly, solicit or attempt to solicit any
products or agreements for the purpose of using the products or agreements in the formation of a
business outside of the Company, regardless of whether any such products or the subject of such
agreements are then being handled by the Company.

     8.2   Non-Disclosure. Employee further agrees that he will not, during or after the
term of his employment, disclose to any person, firm, partnership, association, or corporation, the
names and addresses of any past or present customers, or prospective customers, of the Company,
any of their methods or practices of obtaining business, their trade secrets, consultant contracts
and the details thereof, their pricing policies, their operational methods, their marketing plans
or strategies, their business acquisition plans and all other information pertaining to the
business of the Company that is not publicly available. Employee agrees to keep all information
gained as a result of his relationship with the Company on a confidential basis and shall not
disclose that information to anyone not authorized by the Company to receive

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information. If Employee should cease, either voluntarily or involuntarily, to be an employee of
the Company he hereby expressly agrees that, for a period of six (6) months following termination
of his employment, he shall not assist any competitor or prospective competitor located in the
territories serviced by the Company (as set forth in Attachment 1 or otherwise) during his
employment in any way detrimental to the Company through the use of any information gained as a
result of his employment with the Company. Employee agrees that all computer programs, print-outs,
customer lists, methods, forms, systems and procedures used by the Company constitute the exclusive
property and will remain the exclusive property of the Company and agrees that he will not disclose
any of these matters without the prior written permission of the Company.

     8.3   Non-Solicitation, etc. In further consideration of the other terms and
provisions of this Agreement, and to protect the vital interests of the Company, upon termination
of his employment, for a period of i) six (6) months if Employee is terminated, other than for
cause, or resigns for Good Reason, ii) six (6) months if Employee voluntarily resigns or is
terminated for cause, Employee agrees and binds himself that he shall not, directly or indirectly,
or as a member, shareholder, officer, director, consultant or employee of any other person or
entity, compete with the Company or own, manage, operate, join, control or participate in the
ownership, management, operation, or control of, or become employed by, consult or advise, or be
connected in any manner

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with any business or activity which is in actual, direct or indirect competition or anticipated
competition with the Company within those counties, parishes, municipalities or other places listed
in Attachment 1 annexed hereto and made a part hereof, so long as the Company carries on the
business presently conducted by the Company, being the supply of industrial piping systems for new
construction and retrofit projects, which includes design and engineering services, piping system
fabrication, manufacturing and sale of specialty pipe fittings, design and fabrication of pipe
support systems and industrial and commercial engineering, construction and maintenance. Not by
way of limitation or exclusion, Employee shall not, within the aforesaid locations and during the
aforesaid time period, call upon, solicit, advise or otherwise do, or attempt to do, business with
any customers or distributors of the Company with whom the Company had any dealings during the
period of Employee’s employment hereunder or take away or interfere or attempt to interfere with
any custom, trade, business or patronage of the Company or interfere with or attempt to interfere
with any officers, employees, distributors, representatives or agents of the Company or employ or
induce or attempt to induce any of them to leave the employ of the Company or violate the terms of
their contracts, or any employment arrangements, with the Company. Employee acknowledges and
agrees that any breach of the foregoing covenant not to compete would cause irreparable injury to
the Company and that the amount of injury would be impossible or difficult to fully ascertain.
Employee agrees

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that the Company shall, therefore, be entitled to obtain an injunction restraining any violation,
further violation or threatened violation of the covenant not to compete hereinabove set forth, in
addition to any other remedies that the Company may pursue.

     8.4   Duration. If any period referred to in any of this Article 8 shall be finally
determined by a court to exceed the maximum period which is permissible by applicable law, the said
period shall be reduced to the maximum period permitted by such law.

     9.    Non-exclusivity of Rights. Nothing in this Agreement shall prevent or limit
Employee’s continuing or future participation in any benefit, bonus, incentive, or other plan or
program provided by the Company or any of its affiliated companies and for which Employee may
qualify, nor shall anything herein limit or otherwise adversely affect such rights as Employee may
have under any Options with the Company or any of its affiliated companies.

     10.    Assignability. The obligations of Employee hereunder are personal and may not be
assigned or delegated by him or transferred in any manner whatsoever, nor are such obligations
subject to involuntary alienation, assignment or transfer. The Company shall have the right to
assign this Agreement and to delegate all rights, duties and obligations hereunder, either in whole
or in part, to any parent, affiliate, successor or subsidiary organization or company of the
Company, so long as the obligations of the Company under this Agreement remain the obligations of
the Company.

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     11.    Notice. For the purpose of this Agreement, notices and all other communications
provided for in this Agreement shall be in writing and shall be deemed to have been duly given when
delivered or mailed by United States registered mail, return receipt requested, postage prepaid,
addressed to the Company at its principal office address, directed to the attention of the Board
with a copy to the Secretary of the Company, and to Employee at Employee’s residence address on the
records of the Company or to such other address as either party may have furnished to the other in
writing in accordance herewith except that notice of change of address shall be effective only upon
receipt.

     12.    Validity.
The invalidity or unenforceability of any provision of this Agreement
shall not affect the validity or enforceability of any other provision of this Agreement, which
shall remain in full force and effect.

     13.    Successors; Binding Agreement.

     (a) The Company will require any successor (whether direct or indirect, by
purchase, merger, consolidation or otherwise) to all or substantially all of the
business and/or assets of the Company to expressly assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be
required to perform it if no such succession had taken place. Failure of the Company
to obtain such agreement prior to the effectiveness of any such succession shall be
a breach of this Agreement and shall entitle Employee to compensation from

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the Company in the same amount and on the same terms as he would be entitled to
hereunder if he terminated his employment for Good Reason, except that for purposes
of implementing the foregoing, the date on which any such succession becomes
effective shall be deemed the Date of Termination. As used herein, the term
“Company” shall include any successor to its business and/or assets as aforesaid
which executes and delivers the Agreement provided for in this Section 13 or which
otherwise becomes bound by all terms and provisions of this Agreement by operation
of law.

     (b) This Agreement and all rights of Employee hereunder shall inure to the
benefit of and be enforceable by Employee’s personal or legal representatives,
executors, administrators, successors, heirs distributees, devisees and legatees. if
Employee should die while any amounts would be payable to him hereunder if he had
continued to live, all such amounts, unless otherwise provided herein, shall be paid
in accordance with the terms of this Agreement to Employee’s devisee, legatee, or
other designee or, if there be no such designee, to Employee’s estate.

     14.    Miscellaneous. No provision of this Agreement may be modified, waived or
discharged unless such waiver, modification or discharge is agreed to in writing and signed by
Employee and such officer as may be specifically

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authorized by the Board. No waiver by either party hereto at any time of any breach by the
other party hereto of, or in compliance with, any condition or provision of this Agreement to be
performed by such other party shall be deemed a waiver of similar or dissimilar provisions or
conditions at the same or at any prior or subsequent time. This Agreement is an integration of the
parties agreement; no agreement or representations, oral or otherwise, express or implied, with
respect to the subject matter hereof have been made by either party, except those which are set
forth expressly in this Agreement. THE VALIDITY, INTERPRETATION, CONSTRUCTION AND PERFORMANCE OF
THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF LOUISIANA.

     15.    Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall be deemed to ‘be an original but all of which together will constitute one and the same
instrument.

     16.    Arbitration. Either party may elect that any dispute or controversy arising under
or in connection with this Agreement be settled by arbitration in Baton Rouge, Louisiana in
accordance with the rules of the American Arbitration Association then in effect. If the parties
cannot mutually agree on an arbitrator, then the arbitration shall be conducted by a three
arbitrator panel, with each party selecting one arbitrator and the two arbitrators so selected
selecting a third arbitrator. The findings of the arbitrator(s) shall be final and binding, and
judgment may be entered thereon in any court having

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Jurisdiction. The findings of the arbitrator(s) shall not be subject to appeal to any court,
except as otherwise provided by applicable law. The arbitrator(s) may, in his or her (or their) own
discretion, award legal fees and costs to the prevailing party.

     IN WITNESS WHEREOF, the parties have executed this Agreement on July 7, 2005 effective for all
purposes as provided above.

	 	 	 	 	 
	 	THE SHAW GROUP INC.

	 
	 	By	 	/s/ Gary P. Graphia	 
	 	Name:	 	Gary P. Graphia 	 

	 	 	 	 	 
	EMPLOYEE:	 	 
	 
	Name:	 	/s/ Ebrahim Fatemizadeh	 	 
	 	 	Ebrahim Fatemizadeh	 	 
	 	 	 
	 

Page 22 of 22exv10w1

 

Exhibit 10.1

ACCENTURE SCA

Société en commandite par actions

partnership limited by shares

Siège social: 46A, Avenue J-F Kennedy L-1855 Luxembourg

Registre de Commerce Luxembourg n° B 79 874

STATUTS COORDONNES

à la date du 28 juin 2005

CONSOLIDATED UPDATED ARTICLES OF ASSOCIATION

as at 28 June 2005

 

 

ARTICLES OF ASSOCIATION

ENGLISH VERSION

Article 1 – Form

There exists among Accenture Ltd, a company limited by shares organised under the laws of Bermuda,
being the general partner (gérant commandité) (the “General Partner” or “Accenture Ltd”) of
Accenture SCA, a partnership limited by shares (société en commandite par actions) (hereinafter
referred to as the “Company”) and Accenture Minority IV, Ltd, a Gibraltar company being the current
limited shareholder (associé commanditaire) of the Company and all those persons who shall become
limited shareholders (associés commanditaires) (the “Limited Shareholders”) of the Company.

Hereinafter the Limited Shareholders and the General Partner will be referred to individually as a
Shareholder and collectively as the Shareholders.

Article 2 – Term

The Company is incorporated for an unlimited period of time. However, the Company shall come to an
end in the event of a resolution to dissolve the Company adopted at a general meeting of
Shareholders deciding in compliance with the conditions of quorum and majority required for
amendments to the articles of association of the Company (the “Articles of Association”). The
Company shall not end in the event of the resignation, dissolution, bankruptcy or insolvency of the
General Partner.

Article 3 – Purposes

The Company shall have as its business purpose the holding of participations, in any form
whatsoever, in Luxembourg and foreign companies, the acquisition by purchase, subscription, or in
any other manner as well as the transfer by sale, exchange or otherwise of stock, bonds,
debentures, notes and other securities of any kind, and the ownership, administration, development
and management of its participations and of its asset portfolio.

The Company may carry on any commercial, industrial and/or financial activity or maintain a
commercial establishment open to the public. The Company may participate directly or indirectly in
the establishment and development of any financial, industrial or commercial enterprises in
Luxembourg and abroad and it may render them every assistance, whether of a financial nature or
not, such as, without limitation, the granting of loans or advances, guarantees for their benefit
or other forms of assistance. The Company may borrow in any form and proceed to the issuance of
bonds and notes whether or not convertible or exchangeable in shares of the Company or into shares
of other companies.

The Company may enter into and perform under global alliances and marketing arrangements and any
other contracts aimed at promoting and furthering the development and the operation of the
Accenture group, including but not limited to actions involving or relating to staff of any and all
affiliated group companies.

In general, it may take any controlling and supervisory measures and carry out any operation which
it may deem useful for the accomplishment and development of its purposes.

Article 4 – Registered office

The registered office of the Company is established in Luxembourg City, Grand Duchy of Luxembourg.
The General Partner may establish branches or other offices either in Luxembourg or abroad.

In the event that the General Partner determines that extraordinary political, economic or social
developments have occurred or are imminent that interfere or are likely to interfere with the
normal activities of the Company at its registered office, or with the ease of communication
between such office and persons abroad, the registered office may be temporarily transferred abroad
until the complete cessation of these extraordinary circumstances; such temporary measures shall
have no effect on the

1

 

nationality of the Company which, notwithstanding the temporary transfer of its registered office,
will remain a Luxembourg partnership limited by shares.

Article 5 – Capital

The Company has a subscribed, issued and fully paid nominal share capital of EUR 1,802,814,702
(one billion eight hundred and two million eight hundred fourteen thousand seven hundred and two
euros) divided into shares (actions de commandité) held by the General
Partner and having a par value of one Euro and twenty-five cents (EUR 1.25) each and shares
(actions de commanditaires) held by the Limited Shareholder(s) having a par value of one Euro and
twenty-five cents (EUR 1.25) each. The Shares are divided into
319,911,299 (three hundred
nineteen million nine hundred eleven thousand two hundred ninety-nine) Class I Common
Shares (“Class I Common Shares”), 470,958,308 (four hundred seventy million nine hundred
fifty-eight thousand three hundred eight) Class II Common Shares (“Class II Common Shares”),
433,931,893 (four hundred thirty-three million nine hundred
thirty-one thousand eight hundred ninety-three) Class III Common Shares (“Class III Common Shares”) and 5,000,000 (five million) Class III-A
Common Shares (“Class III-A Common Shares”), 5,000,000 (five million) Class III-B Common Shares
(“Class III-B Common Shares”), 10,000,000 (ten million) Class III-C Common Shares (“Class III-C
Common Shares”), 10,000,000 (ten million) Class III-D Common Shares (“Class III-D Common Shares”),
15,000,000 (fifteen million) Class III-E Common Shares (“Class III-E Common Shares”), 15,000,000
(fifteen million) Class III-F Common Shares (“Class III-F Common Shares”), 20,000,000 (twenty
million) Class III-G Common Shares (“Class III-G Common Shares”), 25,000,000 (twenty-five million)
Class III-H Common Shares (“Class III-H Common Shares”), 5,000,000 (five million) Class III-I
Common Shares (“Class III-I Common Shares”), 5,000,000 (five million) Class III-J Common Shares
(“Class III-J Common Shares”), 16,050,000 (sixteen million fifty thousand) Class III-K Common
Shares (“Class III-K Common Shares”), 5,025,720 (five million twenty-five thousand seven hundred
twenty) Class III-L Common Shares (“Class III-L Common Shares”), 68,626,707 (sixty-eight million
six hundred and twenty-six thousand seven hundred seven) Class III-M Common Shares (“Class III-M
Common Shares”), and 12,747,835 (twelve million seven hundred forty-seven thousand eight hundred
thirty-five) Class III-N Common Shares (“Class III-N Common Shares”) (Class III-A Common Shares
through Class III-N Common Shares are collectively referred to as “Class III Letter Shares”),
having the same characteristics and rights save as to those differences outlined in these Articles
of Association and namely those differences set out in Articles 5, 6, 7, 8, 19 and 20 hereof.

In connection with this authorisation to increase the capital and in compliance with article 32-3
(5) of the Law, the General Partner of the Company is authorised, at its discretion, to waive
entirely or partially or to limit, or to set conditions in respect of any preferential subscription
rights of the existing Shareholders for the same period of five years and to determine the amount
of issue premium (if any) which will have to be paid by the subscriber(s) in the context of this
capital increase.

The Class I Common Shares, the Class II Common Shares, the Class III Common Shares and the Class
III Letter Shares are individually referred to as a “Share” and collectively as the “Shares.”

The Class II Common Shares, the Class III Common Shares and the Class III Letter Shares are
exclusively reserved for Accenture Ltd and its subsidiaries.

The Class III Common Shares and Class III Letter Shares will not entitle their holder to any cash
dividend distributions. Class III Common Shares and Class III Letter Shares will give right to
newly issued Class III Common Shares also labelled “Class III Bonus Shares,” to the extent a cash
dividend is paid on Class I Common Shares.

The aggregate value of the Class III Bonus Shares (the “Class III Bonus Shares Value”) shall be the
amount of any cash dividends that the holders of outstanding Class III Common Shares and Class III

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Letter Shares would have received had they participated on a fully participating basis with the
holders of Class I Common Shares in any cash dividends declared to the holders of the Class I
Common Shares.

The number of Class III Bonus Shares issued to holders of Class III Common Shares and Class III
Letter Shares in connection with the payment of any cash dividend on the Class I Common Shares
shall be determined by dividing (i) the Class III Bonus Shares Value by (ii) the closing price of
an Accenture Ltd Class A Common Share on the United States trading day immediately prior to the day
of issue of the Class III Bonus Shares. Upon such determination, fractional Class III Bonus Shares
whether or not issuable to holders of Class III Common Shares or Class III Letter Shares shall be
rounded down to the nearest entire number of Class III Bonus Shares. The Class III Bonus Shares
shall be issued on the date of payment of the cash dividend on the Class I Common Shares.

All other rights of the Class III Common Shares and Class III Letter Shares, such as rights to
liquidation proceeds and voting rights will remain the same as the rights for the Class I Common
Shares save as set out otherwise in these Articles of Association.

Any issuances of Class III Bonus Shares to the holder(s) of Class III Common Shares and of Class
III Letter Shares in the context of the Authorised Share Capital of the Company (as defined
hereafter), shall be recorded at the latest within a month of the issue date by a Luxembourg
notary. Full powers are attributed to the General Partner or an appointee of the General Partner to
see from time to time to the accomplishment of any formality in connection therewith.

The Class II Common Shares will not entitle their holder to any cash dividend distributions. Class
II Common Shares will have the right to receive newly issued Class II Common Shares also labelled
(“Class II Bonus Shares”) to the extent a cash dividend is paid on Class I Common Shares.

The aggregate value of the Class II Bonus Shares (“the Class II Bonus Shares Value”) shall be the
amount of any cash dividends that the holders of outstanding Class II Common Shares would have
received had they participated on a ten percent (10%) participating basis with the holders of Class
I Common Shares in any cash dividends declared to the holders of the Class I Common Shares.

The number of Class II Bonus Shares issued to holders of Class II Common Shares in connection with
the payment of any cash dividend on the Class I Common Shares shall be determined by dividing (i)
the Class II Bonus Shares Value by (ii) 10% of the closing price of an Accenture Ltd Class A
Common Share on the United States trading day immediately prior to the day of issue of the Class II
Bonus Shares. Upon such determination, fractional Class II Bonus Shares whether or not issuable to
holders of Class II Common Shares shall be rounded down to the nearest entire number of Class II
Bonus Shares. The Class II Bonus Shares shall be issued on the date of payment of the cash dividend
on Class I Common Shares.

Any issuances of Class II Common Shares as Class II Bonus Shares to the holders of Class II Common
Shares in the context of the Authorised Share Capital of the Company (as defined hereafter), shall
be recorded at the latest within a month of the issue date by a Luxembourg notary. Full powers are
attributed to the General Partner or an appointee of the General Partner to see from time to time
to the accomplishment of any formality in connection therewith.

Upon Class I Common Shares being sold or otherwise transferred by their holder to Accenture Ltd or
a subsidiary of Accenture Ltd, such shares shall as a result of the transfer be automatically
relabelled and reclassified as Class III Common Shares. The Company shall subsequently periodically
record (with such recordings to occur not less than once in every quarter) in notarial form the
reclassification of Class I Common Shares into Class III Common Shares and the General Partner or
an appointee of the General Partner is authorised and empowered to see to any requisite formalities
in relation with the registration in the share register of the Company and any notarial recording
including, without limitation, any amendments which need to be made to these Articles of
Association.

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Class III Common Shares and Class III Letter Shares are convertible into Class II Common Shares by
a resolution of an extraordinary meeting of Shareholders resolving in the manner required for
amendments of these Articles of Association. The conversion ratio shall be 1 Class III Common Share
or 1 Class III Letter Share for 10 Class II Common Shares. Upon such resolution, the nominal
capital shall be increased by EUR 11.25 per Class III Common Share or per Class III Letter Share so
converted and Class II Common Shares shall be issued in accordance with the conversion ratio in
replacement of the Class III Common Shares or Class III Letter Shares so converted.

Class II Common Shares are convertible into Class III Common Shares by a resolution of an
extraordinary meeting of Shareholders resolving in the manner required for amendments of these
Articles of Association. The conversion ratio shall be 10 Class II Common Shares for 1 Class III
Common Share. Upon such resolution, the nominal capital shall be reduced by EUR 11.25 per 10 Class
II Common Shares so converted and the amount of the nominal share capital reduction shall be
allocated to the share premium reserve of the Company. In addition, additional Class III Common
Shares shall be issued in accordance with the conversion ratio in replacement of the Class II
Common Shares so converted.

The Class I Common Shares, the Class II Common Shares, the Class III Common Shares and the Class
III Letter Shares are redeemable shares in accordance with the terms of article 49-8 of the law of
August 10, 1915, on commercial companies, as amended (the “Law”), and the redemption features laid
down in Articles 7 and 8 hereof and the disposal features laid down in Articles 6 and 8 hereof
shall apply thereto.

An extraordinary meeting of Shareholders, resolving in the manner required for the amendment of
these Articles of Association, and with the consent of the General Partner, may increase or reduce
the subscribed and issued capital.

Notwithstanding the preceding paragraph, the General Partner of the Company is authorised and
empowered to render effective an increase of the subscribed and issued capital, in whole or in
part, from time to time, within a period starting as of 28 June 2005, and expiring on the fifth
anniversary of such date, by issuing Shares representing such whole or partial increase of the
capital up to the total amount of the Authorised Share Capital (as defined hereafter) and for the
number and classes of Shares being the object of the authorisation. The General Partner shall
accept, to the extent required and whenever it shall not issue Class II Bonus Shares and Class III
Bonus Shares subscriptions for such Shares.

The authorised capital of the Company is set at EUR 50,000,000,000 (the “Authorised Share Capital”)
consisting of 10,000,000,000 Class I Common Shares of a par value of one euro and twenty-five cents
(EUR 1.25) each, 20,000,000,000 Class II Common Shares of a par value of one euro and twenty-five
cents (EUR 1.25) each, 9,782,549,738 Class III Common Shares of a par value of one euro and
twenty-five cents (EUR 1.25) each and 5,000,000 Class III-A Common Shares of a par value of one
euro and twenty-five cents (EUR 1.25) each, 5,000,000 Class III-B Common Shares of a par value of
one euro and twenty-five cents (EUR 1.25) each, 10,000,000 Class III-C Common Shares of a par value
of one euro and twenty-five cents (EUR 1.25) each, 10,000,000 Class III-D Common Shares of a par
value of one euro and twenty-five cents (EUR 1.25) each, 15,000,000 Class III-E Common Shares of a
par value of one euro and twenty-five cents (EUR 1.25) each, 15,000,000 Class III-F Common Shares
of a par value of one euro and twenty-five cents (EUR 1.25) each, 20,000,000 Class III-G Common
Shares of a par value of one euro and twenty-five cents (EUR 1.25) each, 25,000,000 Class III-H
Common Shares of a par value of one euro and twenty-five cents (EUR 1.25) each, 5,000,000 Class
III-I Common Shares of a par value of one euro and twenty-five cents (EUR 1.25) each, 5,000,000
Class III-J Common Shares of a par value of one euro and twenty-five cents (EUR 1.25) each,
16,050,000 Class III-K Common Shares of a par value of one euro and twenty-five cents (EUR 1.25)
each, 5,025,720 Class III-L Common Shares of a par value of one euro and twenty-five cents (EUR
1.25) each, 68,626,707 Class III-M Common Shares of a par value of one euro and twenty-five cents
(EUR 1.25) each, and 12,747,835 Class III-N Common Shares of a par value of one euro and twenty-five
cents (EUR 1.25) each.

4

 

The General Partner is authorised and empowered for a period of 5 years starting on 28 June 2005 to
issue Class I Common Shares and/or Class II Common Shares (whether or not as Class II Bonus Shares)
and/or Class III Common Shares (whether or not as Class III Bonus Shares) from time to time
including Class III Letter Shares in one or several series bearing different numbers or letters in
order to identify them.

The authorisation granted to the General Partner includes the authorisation to issue Shares to
itself.

The General Partner is authorised and empowered for the same period of 5 years starting on 28 June
2005 to determine the conditions attaching to any subscription of Shares and to determine the
amount of issue premium (if any) which will have to be paid, and it may, from time to time, effect
such whole or partial increase upon the conversion of any net profit of the Company into capital
and the attribution of fully-paid Shares to Shareholders.

In connection with the authorisation to increase the capital of the Company given to the General
Partner up to the amount of the Authorised Share Capital and in compliance with the terms of
article 32-3(5) of the Law, the General Partner is authorised, at its discretion, to waive entirely
or partially or to limit, or to set the conditions in respect of any preferential subscription
rights of the then existing Shareholders of the Company.

The General Partner is further authorised to cause the Company to issue warrants, convertible bonds
or assimilated instruments or bonds with warrants or subscription rights or to issue any financial
instruments convertible into Shares under the terms and conditions to be set by the General
Partner.

Each time the General Partner shall act to render effective the increase of capital, as authorised,
Article 5 of the Articles of Association of the Company shall be amended so as to reflect the
result of such action and the General Partner shall take or authorise any person to take any
necessary steps for the purpose of the recording and publication of such increase and such
amendment.

The Company recognises only one holder per Share; in case a Share is held by more than one person,
the Company has the right to suspend the exercise of all rights attached to that Share until one
person is appointed or designated by the joint holders as the sole owner in relation to the
Company.

The Shares of the Company are and they continue to stay in registered form. The Shares are not
certificated, but a certificate (certificat d’inscription nominative) witnessing the registration
of the relevant Shareholder in the share register of the Company and the number of Shares held by
it shall be issued by the Company on request of the Shareholder.

A share register shall be kept at the registered office of the Company and, to the extent the
General Partner shall so decide, with a transfer agent and registrar. Such register shall set forth
the name of each Shareholder, its residence or elected notice address, the number of Shares held by
it, the class of Shares, the amounts paid in on each such Share, the transfers of Shares and the
dates of such transfers.

Unpaid amounts, if any, on issued and outstanding Shares may be called at any time at the
discretion of the General Partner, provided however that calls shall be made on all the Shares in
the same proportion and at the same time. Any sum, the payment of which is in arrear, automatically
attracts interest in favour of the Company at the rate of ten per cent (10%) per year or such other
rate as may be determined by the General Partner from time to time calculated from the date when
the payment was due until the date of the actual payment.

Article 6 – Transfer of Shares

Except for a Transfer taking the form of a redemption made pursuant to Article 7 or a Transfer to
Accenture Ltd or a subsidiary thereof, no Transfer of Class I Common Shares of the Company by a
Limited Shareholder shall be made unless the General Partner shall have given its prior approval to
a contemplated Transfer. As used in this Article 6, the term “Transfer” shall have the same meaning
as set forth in Article 8 below.

5

 

Except for a Transfer taking the form of a redemption made pursuant to Article 7 or a Transfer to
Accenture Ltd or a subsidiary of Accenture Ltd, if a Limited Shareholder wants to Transfer all or
part of its Class I Common Shares or of all or part of the rights attached thereto, in any form
whatsoever, it must submit an application beforehand to the Company by any means approved by the
General Partner. A Transfer application shall contain the name of the contemplated transferee, the
contemplated sale price or consideration as well as any other relevant information. The decision of
the Company will be made known to the applicant as soon as reasonably practicable after it shall
have been taken. The Company’s decision in respect of the application must be made known to the
Limited Shareholder by any means approved by the General Partner.

Any Transfer not made in compliance with the terms of these Articles of Association, with respect
to the Company, be deemed to be null and void.

Requests for Transfers to the Company’s subsidiaries may be made in accordance with procedures to
be approved by the General Partner, provided that any transferee, which is a subsidiary of the
Company, shall retain the right, in its sole discretion, to separately refuse such request for
Transfer.

Article 7 – Redemption of Shares

Subject to any contractual restrictions on Transfer by a holder set forth in any contract or
agreement to which the Company or any of its affiliates is a party or set forth in Article 8 of
these Articles of Association, Class I Common Shares shall be redeemable for cash at the option of
the holder by giving irrevocable notice of an election for redemption to the Company.

At the initiative of the General Partner, the Company is authorised to redeem any Class I Common
Share or any series held by any Limited Shareholder that becomes a Limited Shareholder after May
31, 2001 (or such other date that the Supervisory Board shall declare to be the date of the
consummation of the Accenture group of companies’ transition to a corporate structure) (a
“Subsequent Limited Shareholder”) for Accenture Ltd Class A Common Shares if the Company receives
a satisfactory opinion from an internationally recognized counsel or professional tax advisor that
such redemption should be tax-free with respect to such Subsequent Limited Shareholder. If the
redemption of the Class I Common Share will be done in the context of or accompanied by a share
capital reduction of the Company or a cancellation of Shares, the redemption must in addition be
approved by a resolution at a meeting of Shareholders passed by a two-thirds majority of those
present and voting, including the consent of the General Partner.

The redemption price for a Class I Common Share to be paid in Accenture Ltd Class A Common Shares
shall equal a number of Accenture Ltd Class A Common Shares equal to the Valuation Ratio (as
defined in Article 24). The redemption price for a Class I Common Share to be paid in cash shall
equal the Valuation Ratio multiplied by the Market Price of an Accenture Ltd Class A Common Share
(as defined in Article 24) as of either (i) the United States trading day (as defined in Article
24) on which the Company receives a notice of an election for redemption with respect to such Class
I Common Share if such notice is received prior to the close of trading of Accenture Ltd Class A
Common Shares on the New York Stock Exchange or any other exchange on which they may be listed from
time to time or (ii) the United States trading day immediately following the United States trading
day on which the Company receives a notice of an election for redemption with respect to such Class
I Common Share if such notice is received after the close of trading of Accenture Ltd Class A
Common Shares on the New York Stock Exchange or any other exchange on which they may be listed from
time to time. The redemption price for any Class III Common Share or Class III Letter Share shall,
subject to equality of shareholder treatment, be agreed between the Company and the holder thereof.
The redemption price for Class II Common Shares shall constitute 10% of the price agreed in respect
of a Class III Common Share or a Class III Letter Share between the Company and the holder of Class
III Common Shares or of Class III Letter Shares.

6

 

The Company is authorized to redeem its Class II Common Shares or Class III Common Shares at the
initiative of the General Partner. If the redemption of the Class II Common Shares or Class III
Common Shares will be done in the context of or accompanied by a share capital reduction of the
Company or a cancellation of Shares, the redemption of the Shares must be approved by a resolution
at a meeting of Shareholders passed by a two thirds majority of those present and voting, including
the consent of the General Partner.

Notwithstanding the foregoing, at the option of the Company represented by the General Partner, the
redemption price payable to any Subsequent Limited Shareholder in connection with any redemption
under this Article 7 may be paid in cash or in Accenture Ltd Class A Common Shares and any holder,
including, for the avoidance of doubt, the General Partner, and the Company may agree that the
Company may redeem such holder’s or part of such holder’s Class I Common Shares, Class II Common
Shares, Class III Common Shares and/or Class III Letter Shares for different consideration or for
consideration determined differently.

Notwithstanding anything to the contrary, a holder of Class I Common Shares shall not be entitled
to have Class I Common Shares redeemed or transferred to the Company or to Accenture Ltd or any
subsidiary thereof, and the Company shall have the right to refuse to honor any request for
redemption of Class I Common Shares, (i) at any time or during any period, including, without
limitation, during a “blackout period,” if the Company determines, based on the advice of counsel
(which may be inside counsel), that there is material non-public information that may affect the
Average Price Per Share (as defined below) at such time or during such period, (ii) if such
redemption would be prohibited under applicable law or regulation (in each case regardless of
whether the redemption price is payable in Accenture Ltd Class A Common Shares, cash or other
consideration) or (iii) from the date of the announcement of a tender offer by the Company or any
of its affiliates for Class I Common Shares, or any securities convertible into, or exchangeable or
exercisable for, Class I Common Shares, until the expiration of ten United States business days
after the termination of such tender offer, provided that nothing in this clause (iii) shall
preclude any holder of Class I Common Shares from tendering Class I Common Shares in any such
tender offer.

The Company may adopt reasonable procedures for the implementation of the redemption provisions set
forth in this Article 7, including, without limitation, procedures for the giving of notice of an
election for redemption.

Article 8 – Transfer Restrictions Applicable to Covered Shares

1. Each Covered Person shall at all times be the Sole Beneficial Owner of all Covered Shares
beneficially owned by such Covered Person as of or prior to the IPO Date, except as provided
herein. Any Covered Shares Transferred in compliance with this Article 8 shall no longer be subject
to such provisions. Capitalized terms used in this Article 8 shall have the meanings ascribed to
such terms in paragraph 24 of this Article 8.

2. Notwithstanding paragraph 1, an Employee Covered Person may:

(i) on or prior to the date that is four years after the IPO Date, Transfer an aggregate of up to
35% of the aggregate number of Covered Shares beneficially owned by such Employee Covered Person as
of the IPO Date;

(ii) commencing on the date that is four years after the IPO Date, Transfer an aggregate (together
with all other Transfers made pursuant to this paragraph 2) of up to 45% of the aggregate number of
Covered Shares beneficially owned by such Employee Covered Person as of the IPO Date;

(iii) commencing on the date that is five years after the IPO Date, Transfer an aggregate (together
with all other Transfers made pursuant to this paragraph 2) of up to 55% of the aggregate number of
Covered Shares beneficially owned by such Employee Covered Person as of the IPO Date;

7

 

(iv) commencing on the date that is six years after the IPO Date, Transfer an aggregate (together
with all other Transfers made pursuant to this paragraph 2) of up to 65% of the aggregate number of
Covered Shares beneficially owned by such Employee Covered Person as of the IPO Date; and

(v) commencing on the date that is seven years after the IPO Date, Transfer an aggregate (together
with all other Transfers made pursuant to this paragraph 2) of up to 75% of the aggregate number of
Covered Shares beneficially owned by such Employee Covered Person as of the IPO Date.

3. Notwithstanding paragraph 1, a Covered Person may Transfer any Covered Shares beneficially owned
by such Covered Person as of the IPO Date commencing on the later of (i) the date that is eight
years after the IPO Date and (ii) the date that such Covered Person ceases to be an employee of the
Company.

4. Notwithstanding paragraph 1, an Employee Covered Person that retires (or has retired) at the age
of 50 or older and is not in contravention of the Non-Competition Agreement (a “Retired Employee”)
may:

(i) if such Retired Employee retires (or has retired) at age 50, Transfer up to that number of
Covered Shares beneficially owned by such Retired Employee as of the IPO Date which is equal to the
product of (x) the aggregate number of Covered Shares beneficially owned by such Retired Employee
as of the IPO Date multiplied by (y) the sum of (a) the percentage of Covered Shares eligible for
sale at the date of such retirement pursuant to paragraph 2 of this Article 8 (the “Base Eligible
Sales”) and (b) the product of (A) (1 minus Base Eligible Sales) multiplied by (B) 0.25;

(ii) if such Retired Employee retires (or has retired) at age 51, Transfer up to that number of
Covered Shares beneficially owned by such Retired Employee as of the IPO Date which is equal to the
product of (x) the aggregate number of Covered Shares beneficially owned by such Retired Employee
as of the IPO Date multiplied by (y) the sum of (a) the percentage of the Base Eligible Sales and
(b) the product of (A) (1 minus Base Eligible Sales) multiplied by (B) 0.375;

(iii) if such Retired Employee retires (or has retired) at age 52, Transfer up to that number of
Covered Shares beneficially owned by such Retired Employee as of the IPO Date which is equal to the
product of (x) the aggregate number of Covered Shares beneficially owned by such Retired Employee
as of the IPO Date multiplied by (y) the sum of (a) the percentage of the Base Eligible Sales and
(b) the product of (A) (1 minus Base Eligible Sales) multiplied by (B) 0.50;

(iv) if such Retired Employee retires (or has retired) at age 53, Transfer up to that number of
Covered Shares beneficially owned by such Retired Employee as of the IPO Date which is equal to the
product of (x) the aggregate number of Covered Shares beneficially owned by such Retired Employee
as of the IPO Date multiplied by (y) the sum of (a) the percentage of the Base Eligible Sales and
(b) the product of (A) (1 minus Base Eligible Sales) multiplied by (B) 0.625;

(v) if such Retired Employee retires (or has retired) at age 54, Transfer up to that number of
Covered Shares beneficially owned by such Retired Employee as of the IPO Date which is equal to the
product of (x) the aggregate number of Covered Shares beneficially owned by such Retired Employee
as of the IPO Date multiplied by (y) the sum of (a) the percentage of the Base Eligible Sales and
(b) the product of (A) (1 minus Base Eligible Sales) multiplied by (B) 0.75;

(vi) if such Retired Employee retires (or has retired) at age 55, Transfer up to that number of
Covered Shares beneficially owned by such Retired Employee as of the IPO Date which is equal to the
product of (x) the aggregate number of Covered Shares beneficially owned by such Retired Employee
as of the IPO Date multiplied by (y) the sum of (a) the percentage of the Base Eligible Sales and
(b) the product of (A) (1 minus Base Eligible Sales) multiplied by (B) 0.875; and

(vii) if such Retired Employee retires (or has retired) at age 56 or above, Transfer 100% of the
Covered Shares beneficially owned by such Retired Employee as of the IPO Date.

8

 

5. A Retired Employee may also Transfer the Covered Shares beneficially owned by such Retired
Employee as of the IPO Date in accordance with paragraph 2 of this Article 8 as if such Retired
Employee were an Employee Covered Person.

6. Following the first anniversary of the IPO Date, a Retired Employee that reaches (or has
reached) the age of 56 may also Transfer 100% of the Covered Shares beneficially owned by such
Retired Employee as of the IPO Date.

7. Notwithstanding paragraph 1, a Covered Person that became disabled while an employee of the
Company (a “Disabled Employee”) prior to June 15, 2001, may Transfer 100% of Covered Shares
beneficially owned by such Disabled Employee as of the IPO Date. A Covered Person that becomes (or
has become) a Disabled Employee following June 15, 2001 may (i) if such Disabled Employee becomes
disabled (or has become disabled) prior to reaching the age of 50, Transfer Covered Shares
beneficially owned by such Disabled Employee as of the IPO Date in accordance with the provisions
of paragraph 2 of this Article 8 as if such Disabled Employee were an Employee Covered Person and
(ii) if such Disabled Employee becomes (or has become) disabled after reaching the age of 50,
Transfer Covered Shares beneficially owned by such Disabled Employee as of the IPO Date in
accordance with the provisions of paragraph 4 of this Article 8 as if such Disabled Employee were a
Retired Employee.

8. Notwithstanding paragraph 1, a Covered Person may Transfer Covered Shares beneficially owned by
such Covered Person as of the IPO Date pursuant to bona fide pledges of Covered Shares approved by
the Supervisory Board or its delegate in writing and any foreclosures thereunder, provided that the
pledge has agreed in writing with the Supervisory Board or its delegate (any such agreement to be
satisfactory to the Supervisory Board or its delegate in its sole discretion) that the Company
shall have a right of first refusal to purchase such Covered Shares at the market price prior to
any sale of such Covered Shares by such pledgee.

9. Notwithstanding paragraph 1, commencing on June 15, 2004, the Covered Shares are redeemable at
the option of the Covered Person for a redemption price per share equal to the lower of (i) the
Valuation Ratio multiplied by the Market Price of an Accenture Ltd Class A Common Share and (ii)
one United States dollar.

10. Each Covered Person, for so long as such Covered Person is an Employee Covered Person, will
comply with any restrictions on Transfer relating to Class I Common Shares imposed by the Company
pursuant to the Company’s insider trading policies from time to time and notified to such Covered
Person from time to time.

11. All Transfers of Covered Shares beneficially owned by a Covered Person as of or prior to the
IPO Date made by such Covered Person before the adoption of this Article 8 shall be aggregated, for
purposes of paragraphs 2 through 4, with all Transfers of Covered Shares beneficially owned by such
Covered Person as of or prior to the IPO Date made by such Covered Person after the adoption of
this Article 8.

12. Notwithstanding paragraph 2, each Covered Person will not Transfer any Covered Shares until
July 24, 2005, except (A) to participate in underwritten public offerings, share repurchases, sales
or redemptions or other transactions, in each case as approved in writing by the Company and/or (B)
to estate and/or tax planning vehicles, family members and charitable organizations that become
bound to the terms of Article 8 of these Articles of Association by express agreement in writing,
in each case as approved in writing by the Company (which approval may be subject to other
conditions, including upon the requirement that any transferee become bound by any other agreement,
that the Company may require in its sole discretion). The preceding sentence shall not preclude any
Transfer permitted under paragraph 8 or 9 of this Article 8.

13. All Covered Shares beneficially owned by a Covered Person (in each case other than Covered
Shares held of record by a trustee in a compensation or benefit plan administered by the Company
and other

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Covered Shares that have been pledged to the Company (or to a third party agreed to in writing by
the Company) shall, at the sole discretion of the Company, be registered in the name of a nominee
for such Covered Person and/or shall be held in the custody of a custodian until otherwise
determined by the Company or until such time as such Covered Shares are released pursuant to
paragraph 17 or 18 of this Article 8. The form of the custody agreement and the identity of the
custodian and/or nominee shall be as determined by the Supervisory Board or its delegate from time
to time.

14. Whenever any nominee holder shall receive any dividend or other distribution in respect of any
Covered Shares, satisfied otherwise than in Covered Shares, the Company will give or cause to be
given notice or direction to the applicable nominee and/or custodian referred to in paragraph 13 to
permit the prompt distribution of such dividend or distribution to the beneficial owner of such
Covered Shares, net of any tax withholding amounts required to be withheld by the nominee, unless
the distribution of such dividend or distribution is restricted by the terms of another agreement
between the Covered Person and the Company (or with any other person with respect to which the
Company has expressly agreed in writing) known to the Company.

15. Any share certificate representing Covered Shares beneficially owned by a Covered Person, and
any agreement or other instrument evidencing restricted share units, options or other rights to
receive or acquire Covered Shares beneficially owned by such Covered Person, may bear a legend
noted conspicuously on each such certificate, agreement or other instrument reading substantially
as follows:

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO TRANSFER RESTRICTIONS SET FORTH IN
THE COMPANY’S ARTICLES OF ASSOCIATION. THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY BE SOLD,
EXCHANGED, TRANSFERRED, ASSIGNED, PLEDGED, PARTICIPATED, HYPOTHECATED OR OTHERWISE DISPOSED OF ONLY
IN ACCORDANCE THEREWITH.”

16. The Company shall refuse to register the transfer of Covered Shares not made in compliance with
these Articles of Association and it may enter stop transfer orders against the transfer of Covered
Shares not made in compliance with these Articles of Association.

17. All Covered Shares of each Covered Person who is not an Employee Covered Person which could be
Transferred without contravening any provision of this Article 8 shall be released from the custody
of the custodian pursuant to procedures to be developed by the Company to or at the direction of
such Covered Person free and clear of all restrictions and legends described above.

18. A specified number of Covered Shares of an Employee Covered Person shall be released from the
custody of the custodian, pursuant to procedures to be developed by the Company, upon the request
of such Employee Covered Person and to or at the direction of such Employee Covered Person (free
and clear of all restrictions and legends described in this Article 8), provided that such request
is accompanied by a certificate of such requesting Employee Covered Person (i) indicating such
requesting Employee Covered Person’s intention to Transfer promptly such specified number of
Covered Shares and (ii) establishing that such specified number of Covered Shares are then
permitted to be Transferred without contravening any Transfer Restrictions (which evidence must be
satisfactory to the Company).

19. Each Covered Person shall be responsible for all expenses of such Covered Person incurred in
connection with compliance by such Covered Person with its obligations under this Article 8,
including expenses incurred by the Company in enforcing the provisions of Article 8 relating to
such obligations.

20. In the event of any change in the outstanding Class I Common Shares by reason of stock
dividends, stock splits, reverse stock splits, recapitalizations, combinations, exchanges of shares
and the like, the term “Covered Shares” shall refer to and include the securities received or
resulting therefrom, but only to the extent such securities are received in exchange for or in
respect of Covered Shares.

10

 

Upon the occurrence of any event described in the immediately preceding sentence, the Company shall
make such adjustments to or interpretations of the provisions of this Article 8 as the Company
shall deem necessary or desirable to carry out the intent of such provisions. If the Company deems
it advisable, any such adjustments may take effect from the record date, the “when issued trading
date,” the “ex dividend date” or another appropriate date.

21. The provisions of this Article 8 shall be binding upon the respective legatees, legal
representatives, successors and assigns of the Covered Persons; provided, however, that a Covered
Person may not assign or otherwise transfer any of its obligations under such provisions without
the prior written consent of the Supervisory Board or its delegate and any assignment or other
transfer of rights and/or obligations under this Article 8 by a Covered Person without such consent
of the Supervisory Board or its delegate shall be void.

22. If requested by the Supervisory Board or its delegate, each Covered Person shall execute such
documents and take such further action as may be reasonably necessary to effect the provisions of
this Article 8.

23. The Supervisory Board or its delegate may waive any of the provisions of this Article 8 to
permit particular Covered Persons, a particular class of Covered Persons or all Covered Persons to
Transfer Covered Shares in particular situations (such as Transfers to family members, partnerships
or trusts) or generally. The Supervisory Board or its delegate may impose such conditions as the
Supervisory Board or its delegate determines on the granting of such waivers. The determinations of
the Supervisory Board or its delegate under this paragraph 23 shall be final and binding and need
not to be uniform and may be made selectively among Covered Persons (whether or not such Covered
Persons are similarly situated).

24. For purposes of this Article 8, the following terms have the following meanings:

A “beneficial owner” of a security includes any person who, directly or indirectly, through any
contract, arrangement, understanding, relationship or otherwise, has or shares: (i) voting power,
which includes the power to vote, or to direct the voting of, such security and/or (ii) investment
power, which includes the power to dispose, or to direct the disposition of, such security, but
for purposes of these Articles of Association a person shall not be deemed a beneficial owner of
Covered Shares (A) solely by virtue of the application of the United States Securities Exchange
Act of 1934, as amended from time to time (the “Exchange Act”) Rule 13d-3(d) or Exchange Act Rule
13d-5 as in effect on April 18, 2001, (B) solely by virtue of the possession of the legal right to
vote securities under applicable law (such as by proxy, power of attorney or appointment as
corporate representative) or (C) held of record by a “private foundation” subject to the
requirements of Section 509 of the United States Internal Revenue Code of 1986, as amended from
time to time, and the applicable rulings and regulations thereunder (or equivalent in other
jurisdictions as determined from time to time by the Supervisory Board or its delegate).

“Beneficially own” and “beneficial ownership” shall have correlative meanings. For purposes of the
determination of beneficial ownership only, the provisions of Article 8 shall not be deemed to
transfer the investment power with respect to any Class I Common Shares.

“Covered Person” or “Covered Persons” shall mean those persons, other than the Company, who were
Shareholders on the IPO Date; provided that any Covered Person who was not also a party to that
certain Common Agreement dated as of April 19, 2002 among the Company and the other parties
thereto on the date of adoption of this Article 8 shall not be subject to paragraph 12 of this
Article 8.

“Company” means Accenture SCA, together, as the case may be and if the context so requires, with
its Subsidiaries from time to time.

A Covered Person’s “Covered Shares” shall mean any Class I Common Shares beneficially owned by such
Covered Person at the time in question. “Covered Shares” shall also include the securities that are

11

 

defined to be “Covered Shares” in paragraph 20 of this Article 8. A Covered Person “acquires”
Covered Shares when such Covered Person first acquires beneficial ownership over such Covered
Shares.

The term “disabled” shall mean “disabled” as defined (i) in any employment agreement then in
effect between the employee and the Company, or (ii) if not defined therein, or if there shall be
no such agreement, as defined in the Company’s long-term disability plan as in effect from time to
time, or (iii) if there shall be no plan, the inability of an employee to perform in all material
respects his duties and responsibilities to the Company for a period of six (6) consecutive months
or for an aggregate of nine (9) months in any twenty-four (24) consecutive month period by reason
of a physical or mental incapacity. Any question as to the existence of a disability as to which
the employee and the Company cannot agree shall be determined in writing by a qualified
independent physician mutually acceptable to the employee and the Company. If the employee and the
Company cannot agree as to a qualified independent physician, each shall appoint such a physician
and those two physicians shall select a third who shall make such determinations in writing. The
determination of disability made in writing to the Company and the employee shall be final and
conclusive for all purposes of this Article 8.

An “employee” shall include, without limitation, the owners and employees of partner personal
service companies in certain countries with which the Company has personal service contracts (in
each case as agreed by the Supervisory Board or its delegate), and any other similarly situated
person designated as an “employee” by the Supervisory Board or its delegate.

“Employee Covered Person” shall mean a Covered Person that is an employee of the Company at the
time in question, provided that if the Company has received notice that any Covered Person intends
to terminate such Covered Person’s employment with the Company (except in the case of notice with
respect to retirement or disability), such Covered Person shall be deemed not to be an Employee
Covered Person.

“IPO Date” shall mean July 24, 2001, the date of completion of Accenture Ltd’s initial public
offering.

“Non-Competition Agreement” shall mean, collectively, any Non-Competition Agreement, dated as of
April 18, 2001, among the Company and the partners from time to time party thereto as such
agreement may be amended from time to time or any agreement having a similar effect.

“Permitted Basket Transaction” shall mean the purchase or sale of, or the establishment of a long
or short position in, a basket or index of securities (or of a derivative financial instrument
with respect to a basket or index of securities) that includes securities of the Company, in each
case if such purchase, sale or establishment is permitted under the Company’s policy on hedging
with respect to securities of the Company and other relevant policies, including insider trading
policies, as announced from time to time.

“Sole Beneficial Owner” shall mean a person who is the beneficial owner of Covered Shares, who does
not share beneficial ownership of such Covered Shares with any other person (other than pursuant to
these Articles of Association, the Non-Competition Agreement or applicable community property laws)
and who is the only person (other than pursuant to applicable community property laws) with a
direct economic interest in the Covered Shares. An economic interest of the Company (or of any
other person with respect to which the Company has expressly agreed to in writing) as pledgee shall
be disregarded for this purpose. A Covered Person that holds Covered Shares indirectly through a
wholly-owned personal holding company shall be considered the “Sole Beneficial Owner” of such
Covered Shares, provided that such personal holding company is a Covered Person hereunder. In
respect of Covered Shares held a personal holding company or a trust structure, the share register
shall refer both to the legal entity or trust, respectively, as the legal owner and record owner of
the Covered Shares and the beneficial owner(s) of the legal entity or trust, respectively.

“Subsidiary” shall mean any person in which Accenture SCA owns, directly or indirectly, at least a
majority of the equity, economic or voting interest.

12

 

“Transfer” shall mean any sale, transfer, pledge, hypothecation, redemption or other disposition,
whether direct or indirect, whether or not for value, and shall include any disposition of the
economic or other risks of ownership of Covered Shares, including short sales of securities of the
Company, option transactions (whether physical or cash settled) with respect to securities of the
Company, use of equity or other derivative financial instruments relating to securities of the
Company and other hedging arrangements with respect to securities of the Company, in each such case
other than Permitted Basket Transaction.

Article 9 – Liability of Shareholders

The Limited Shareholders are only liable up to the amount of their capital contribution made to the
Company.

The General Partner’s liability is and shall be unlimited.

Article 10 – Meetings of Shareholders

The annual general meeting of Shareholders shall be held, in accordance with Luxembourg law, in
Luxembourg at the registered office of the Company, or at such other place in Luxembourg as may be
specified in the notice of meeting, on November 15 at 12:00 noon. If such day is not a Luxembourg
business day, the annual general meeting shall be held on the next following Luxembourg business
day.

Other meetings of Shareholders may, subject to applicable law, be held at such place and at such
time as may be specified by the General Partner in the respective notices of meeting.

For the purposes of the Articles of Association, a “Luxembourg business day” shall mean a day on
which banks are ordinarily open for business in the City of Luxembourg, Luxembourg.

Article 11 – Notice, quorum, proxies, majority

The notice periods and quorum rules required by the Law shall apply with respect to the meetings of
Shareholders of the Company, as well as with respect to the conduct of such meetings, unless
otherwise provided herein.

Each Share is entitled to one vote. A Shareholder may act at any meeting of Shareholders by
appointing another person in writing (whether in original or by telefax, cable, telegram or telex),
whether a Shareholder or not, as its proxy.

Except as otherwise required by law or by these Articles of Association, resolutions at a meeting
of Shareholders will be passed by a simple majority of those Shares represented and voting at the
meeting and with the consent of the General Partner.

The following matters shall require a quorum (if and when required as a matter of the Law) of half
of the Company’s issued and outstanding Shares and a two-thirds majority vote of those Shares
represented and voting at the meeting:

	(i)	 	amendment of these Articles of Association;
	 
	(ii)	 	dissolution and the liquidation of the Company;
	 
	(iii)	 	setting of the authorised share capital and the authorisation given to the General Partner
to increase the Company’s share capital within the limits of the authorisation;
	 
	(iv)	 	decrease of the Company’s share capital; and
	 
	(v)	 	sale of all or substantially all of the Company’s assets.

The following matters shall require a unanimous resolution of all the Shareholders of the Company:

	(i)	 	the redomestication of the Company (i.e. its migration) by the change of the nationality of
the Company; and
	 
	(ii)	 	the assessment of the Shareholders.

13

 

The Shares shall, as a rule, vote as a single class. Matters adversely affecting the rights of the
holders of a specific share class only shall require a quorum (if and when required as a matter of
the Law) of half of the class’ issued and outstanding Shares and a two-thirds majority vote of the
Shares of that share class and, in respect of such matters but only in respect of such matters, the
holders shall vote as a separate class.

Article 12 – Convening notice

Shareholders’ meetings shall be convened by the General Partner or by the Supervisory Board,
pursuant to a notice setting forth the agenda and sent by registered mail at least eight days prior
to the meeting to each Shareholder at the Shareholder’s notice address on record or, failing which,
its residence address on record in the share register of the Company or by two publications in each
of the Luxembourg press and in the Luxembourg Official Gazette (Mémorial), whereby the first
publication shall be made so that the second publication shall be made at least eight days prior to
the meeting and with there being at least an eight-day interval between the first and the second
publications for the meeting.

If all the Shareholders are present or represented at a meeting of Shareholders, and if they state
that they have been informed of the agenda of the meeting, the meeting may be held without prior
notice.

The General Partner may determine all reasonable conditions that must be fulfilled by Shareholders
for them to participate in any meeting of Shareholders.

Article 13 – Powers of the meeting of Shareholders

Any regularly constituted meeting of Shareholders of the Company shall represent the entire body of
Shareholders of the Company. The meeting of Shareholders may resolve on any item only with the
consent of the General Partner.

Article 14 – Management

The Company shall be managed by the General Partner who shall be the liable partner (associé -
gérant - commandité) and who shall be personally, jointly and severally liable with the Company for
all liabilities which cannot be met out of the assets of the Company.

The General Partner is vested with the broadest powers to perform all acts of administration and
disposition in the Company’s interest which are not expressly reserved by the Law or by these
Articles of Association to the meeting of Shareholders or to the Supervisory Board.

The General Partner shall have the sole authority to institute and direct court proceedings and to
negotiate, settle and compromise disputes on behalf of the Company and may delegate this authority
to such persons or committees as it may designate, provided the Supervisory Board shall have
approved the persons to whom the delegation by the General Partner of such authority is made.

The General Partner shall have the power on behalf and in the name of the Company to carry out any
and all of the purposes of the Company and to perform all acts and enter into and perform all
contracts and other undertakings that it may deem necessary, advisable or useful or incidental
thereto. Except as otherwise expressly provided, the General Partner has, and shall have, full
authority in its discretion to exercise, on behalf of and in the name of the Company, all rights
and powers necessary or convenient to carry out the purposes of the Company.

Article 15 – Authorised signature

The Company shall be bound by the corporate signature of the General Partner as made by the
individual or joint signatures of any other persons to whom authority shall have been delegated by
the General Partner as the General Partner shall determine in its discretion, provided the
Supervisory Board shall have approved the persons to whom the delegation by the General Partner of
such authority is made.

14

 

Article 16 – Remuneration of General Partner; Expenses

The General Partner shall receive no remuneration from the Company for its duties. To the largest
extent permitted by applicable law, but without prejudice to the second paragraph of Article 9, the
Company shall bear, and reimburse for, the costs and expenses incurred by the General Partner
resulting from the performance of its duties and/or actions taken on behalf of and/or for the
benefit of the Company and may make advances to the General Partner in connection therewith
(including, without limitation, losses, damages and defense costs resulting from actual or
threatened third party claims).

Article 17 – Supervisory Board

The affairs of the Company and its financial situation including particularly its books and
accounts shall be supervised by a supervisory board composed of at least three board members
(herein referred to as the “Supervisory Board”).

The Supervisory Board shall be consulted by the General Partner on such matters as the General
Partner may determine, and it shall authorise any actions of the General Partner that may, pursuant
to the Law or under these Articles of Association, exceed the powers of the General Partner.

The Supervisory Board shall approve those individuals put forth from time to time by the General
Partner to exercise the General Partner’s powers with respect to the management of the Company, and
the General Partner shall act only through such individuals.

The Supervisory Board shall be elected by a simple majority vote of the general meeting of
Shareholders for a maximum term of six years, which shall be renewable.

The general meeting of Shareholders shall determine the remuneration of the Supervisory Board, if
any.

The Supervisory Board shall be convened by its chairman (as appointed by the Supervisory Board from
the Board members) or by the General Partner.

Written notice of any meeting of the Supervisory Board shall be given to all members of the
Supervisory Board with at least eight days prior notice, except in circumstances of emergency, in
which case the nature of such circumstances shall be set forth in the notice of the meeting. This
notice may be waived by the consent in writing, whether in original or by cable, telegram, telefax
or telex of each member. Separate notice shall not be required for individual meetings held at
times and places prescribed in a schedule previously adopted by resolution of the Supervisory
Board. If all the members of the Supervisory Board are present or represented at a meeting of
Supervisory Board, and if they state that they have been informed of the agenda of the meeting, the
meeting may be held without prior notice.

Any member may act at any meeting of the Supervisory Board by appointing in writing, whether in
original or by cable, telegram, telex, telefax or other electronic transmission another member as
his proxy.

The Supervisory Board can deliberate or act validly only if at least the majority of its members
are present or represented. Resolutions shall be approved if taken by a majority of the votes of
the members present or represented at such meeting. Resolutions may also be taken in one or several
written instruments signed by all the members.

No member of the Supervisory Board shall be liable in respect of any negligence, default or breach
of duty on his own part in relation to the Company and each member of the Supervisory Board shall
be indemnified out of the funds of the Company against all liabilities, losses, damages or expenses
arising out of the actual or purported execution or discharge of his duties or the exercise of his
powers or otherwise in relation to or in connection with his duties, powers or office; provided
that this exemption from liability and indemnity shall not extend to any matter which would render
them void pursuant to Luxembourg law.

15

 

Article 18 –
Accounting year – Accounts

The accounting year of the Company shall begin on 1st September and it shall terminate on 31st
August of each year.

The accounts of the Company shall be stated in euro and/or United States dollars or in any other
fungible currency as decided by the General Partner.

Article 19 – Allocation of profits

From the annual net profits of the Company, five per cent (5%) shall be allocated to the legal
reserve as required by the Law. This allocation shall cease to be required as soon as such legal
reserve amounts to ten per cent (10%) of the nominal issued share capital of the Company as stated
in Article 5 hereof as increased or reduced from time to time.

The General Partner shall determine how the annual net profits shall be disposed of, and it shall
decide to pay dividends from time to time, as it, in its discretion, believes to suit best the
corporate purpose and policy of the Company. A general meeting of Shareholders shall have to
approve the General Partner’s decision to pay dividends as well as the profit allocation proposed
by the General Partner.

Dividends may be paid in Euro or in United States Dollars or in any other currency determined by
the General Partner and they may be paid at such places and times as shall be determined by the
General Partner.

The General Partner may decide to pay interim dividends under the conditions and within the limits
laid down in the Law.

Article 20 – Dissolution and liquidation

The Company may be voluntarily dissolved by a resolution passed at a general meeting of
Shareholders with the consent of the General Partner.

The liquidation shall be carried out by one or several liquidators (who may be physical persons or
legal entities) named by a general meeting of Shareholders which shall also determine their powers
and their remuneration.

Each holder of Shares of the Company shall be entitled (to the extent of the availability of funds
or assets in sufficient amount), to the repayment of the nominal share capital amount corresponding
to its Share holdings. The liquidation proceeds (if any), including the return of nominal share
capital, shall be paid so that each Class II Common Share shall entitle its holder to receive a
liquidation payment equal to 10% of any liquidation payment to which a Class I Common Share or a
Class III Common Share or a Class III Letter Share entitles its holder.

Article 21 – Amendments

These Articles of Association may be amended from time to time by a general meeting of
Shareholders, subject to the quorum and majority requirements provided by the laws of Luxembourg,
and subject to the consent of the General Partner.

Article 22 – Tax Matters

The General Partner may, in its sole discretion, make any tax elections with respect to the
Company, provided that the General Partner reasonably determines that any such election would not
have an adverse tax impact on any Shareholder.

Article 23 – Applicable law

All matters not governed by these Articles of Association shall be determined by application of the
provisions of Luxembourg law, and, in particular, of the Law.

16

 

Article 24 – Definitions

The “Average Price Per Share” as of any day shall equal the average of the high and low sales
prices of Accenture Ltd Class A Common Shares as reported on the New York Stock Exchange (or if the
Accenture Ltd Class A Common Shares are not listed or admitted to trading on the New York Stock
Exchange, on the American Stock Exchange, or if the Accenture Ltd Class A Common Shares are not
listed or admitted to trading on the American Stock Exchange, on the Nasdaq National Market, or if
the Accenture Ltd Class A Common Shares are quoted on the Nasdaq National Market, on the
over-the-counter market as furnished by any nationally recognized New York Stock Exchange member
firm selected by Accenture Ltd for such purpose), net of customary brokerage and similar
transaction costs as determined with respect to the Company and by the Company.

The “Market Price of an Accenture Ltd Class A Common Share” as of any day shall equal the Average
Price Per Share as of such day, unless Accenture Ltd sells (i.e. trade date) shares of its Class A
Common Shares on such day for cash other than in a transaction with any employee or an affiliate
and other than pursuant to a preexisting obligation; in which case the “Market Price of an
Accenture Ltd Class A Common Share” as of such day shall be the weighted average sale price per
share, net of brokerage and similar costs.

A “United States business day” shall mean a day other than a Saturday, Sunday or United States
federal holiday and shall consist of the time period from 12:01 am through 12:00 midnight (Eastern
time).

A “United States trading day” shall mean a day on which Accenture Ltd Class A Common Shares are
traded on the New York Stock Exchange or any other exchange on which they may be listed from time
to time.

The “Valuation Ratio” at any time shall equal 1.00, provided that the Valuation Ratio shall be
subject to adjustment from time to time pursuant to the following provisions of this Article 23. If
at any time:

	(i)	 	Accenture Ltd acquires or otherwise holds more than a de
minimis amount of assets other than:

	 	(a)	 	its shareholding in the Company,
	 
	 	(b)	 	any direct or indirect interest in its own shares (provided that such shares would
not be treated as an asset of Accenture Ltd on a consolidated balance sheet of Accenture
Ltd prepared in accordance with generally accepted accounting principles in the United
States of America) or
	 
	 	(c)	 	any assets that it holds only transiently prior to contributing or loaning such
assets to the Company (provided that any such transiently held assets are so contributed
or loaned prior to the end of the then current fiscal quarter of Accenture Ltd),

	(ii)	 	Accenture Ltd incurs or otherwise is liable for more than a
de minimis amount of liabilities
other than any liability for which it is the obligee under a corresponding liability of the
Company or
	 
	(iii)	 	circumstances otherwise require, then

	 	(1)	 	the General Partner shall promptly inform the Supervisory Board and those members
of the Supervisory Board that are also Limited Shareholders (in such capacity, the
“Limited Shareholders Committee”) of such fact,
	 
	 	(2)	 	the General Partner shall provide the Limited Shareholders Committee with such
other information, including financial information or statements, as the Limited
Shareholders Committee may reasonably require in connection with the determinations
contemplated by the following clause (3) of this sentence and
	 
	 	(3)	 	each of the General Partner and the Limited Shareholders Committee shall use their
best efforts to promptly:

17

 

	 	(x)	 	determine whether an adjustment to the Valuation Ratio is required in
order to reflect the relative fair market values of an Accenture Ltd Class A Common
Share and a Class I Common Share and
	 
	 	(y)	 	if such an adjustment is so required, determine a process for equitable
adjustment of the Valuation Ratio (whether based on the financial statements of
Accenture Ltd or otherwise and whether a process for a one-time adjustment or
recurring adjustments).

If the General Partner and the Limited Shareholders Committee determine that an adjustment in the
Valuation Ratio is so required and determine a process for equitable adjustment of the Valuation
Ratio, then the Valuation Ratio shall be adjusted by such process. If no agreement can be reached
promptly (but in any event within 45 days) between the General Partner and the Limited Shareholders
Committee as to whether any such adjustment is so required or as to a process for equitable
adjustment, then the General Partner and the Limited Shareholders Committee shall choose an
independent arbitrator (which may be a leading international investment bank) who is a recognized
expert in the field of company valuation to (x) determine whether an adjustment to the Valuation
Ratio is required in order to reflect the relative fair market values of an Accenture Ltd Class A
Common Share and a Class I Common Share and (y) if such an adjustment is so required, determine a
process for equitable adjustment of the Valuation Ratio (whether based on the financial statements
of Accenture Ltd or otherwise and whether a process for a one-time adjustment or recurring
adjustments). If the arbitrator determines that an adjustment in the Valuation Ratio is so
required and determines a process for equitable adjustment of the Valuation Ratio, then the
Valuation Ratio shall be adjusted by such process.

If Accenture Ltd:

	(i)	 	pays a dividend or makes a distribution on its Accenture Ltd Class A Common Shares in
Accenture Ltd Class A Common Shares,

	(ii)	 	subdivides its outstanding Accenture Ltd Class A Common Shares into a greater number of shares,

	(iii)	 	combines its outstanding Accenture Ltd Class A Common Shares into a smaller number of shares,

	(iv)	 	makes a distribution on its Accenture Ltd Class A Common Shares in shares of its share
capital other than Accenture Ltd Class A Common Shares or

	(v)	 	issues by reclassification of its Accenture Ltd Class A Common Shares any shares of its share
capital,

then the Valuation Ratio in effect immediately prior to such action shall be adjusted so that the
holder of Class I Common Shares thereafter redeemed may receive the redemption price or number of
shares of share capital of Accenture Ltd, as the case may be, which it would have owned immediately
following such action if it had redeemed immediately prior to such action (after taking into
account any corresponding action taken by the Company).

In the event of any business combination, amalgamation, restructuring, recapitalization or other
extraordinary transaction directly or indirectly involving Accenture Ltd or any of its securities
or assets as a result of which the holders of Accenture Ltd Class A Common Shares shall hold voting
securities of an entity other than Accenture Ltd, the terms “Accenture Ltd Class A Common Shares”
and “Accenture Ltd” shall refer to such voting securities formerly representing or distributed in
respect of Accenture Ltd Class A Common Shares and such entity, respectively.

18

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