Document:

EX-4.14:

 

Exhibit 4.14

RHÔNE-POULENC S.A.

1995 Stock Option Plan1

     The Rhône-Poulenc S.A. 1995 Stock Option Plan was approved at a
meeting of the shareholders of the Company held on April 13, 1995 in
Paris, France.

     The Plan authorizes the Board of Directors (conseil d’administration) to
 award stock options, at one time or from time to time, to certain eligible
persons, under the conditions contemplated by Articles 208-1 through 208-8-1 of the Law of July 24, 1966
concerning business corporations. Options under the Plan will confer on the holder the
right to subscribe for shares of Rhône-Poulenc S.A. which may be either newly issued shares or shares repurchased under the conditions
contemplated by law.

     The authority of the Board of Directors to award options under the Plan
will continue in effect for a period of 26 months, starting from the date of the
shareholders meeting.

     Persons eligible to be awarded options under the 1995 Stock Option Plan
are the following:

     •     employees, or selected employees or selected categories of employees; and

     •     authorized agents and representatives
(mandataires sociaux), as defined by applicable law;

in either case, of Rhône-Poulenc S.A. as well as of the companies and
other entities that are directly or indirectly affiliated with Rhône-Poulenc S.A. under the
conditions set forth in Article 208-4 of the Law of July 24, 1966.

     The total number of stock options under the Plan may not confer rights to
subscribe for or purchase an amount of shares in excess of the limits
established by Articles 208-6 of the Law of July 24, 1966 and Article 174-17 of the Decree of March 23,
1967, subject to all other limitation imposed by law.

     The exercise price of options to subscribe for newly issued shares will be
 determined on the day that the options are awarded by the Board of
Directors and may not be less than 80% of the average of the first quoted price for the shares on the Paris
Stock Exchange,

	1 English language version of excepts from the Procès-Verbal de l’Assemblée
Générale Mixte du 13 avril 1995 of Rhône-Poulenc S.A.

 

monthly settlement market, for the 20 trading days preceding the day on which
the options are awarded.

     The exercise price of options to purchase shares [that have been
repurchased by the Company in the market] will be fixed on the day that the
options are awarded by the Board of Directors and may not be less than 80% of
the average of the first quoted price for the shares on the Paris Stock
Exchange, monthly settlement market, for the 20 trading days preceding the day
on which the options are awarded, nor less than 80% of the average repurchase
price of the shares held by the Company pursuant to Articles 217-1 and/or 217-2
of the Law of July 24, 1966.

     The maximum amount of stock options [based on exercise price] (whether
options to subscribe for new shares or to purchase shares [that have been
repurchased by the Company in the market]) is established at 450,000,000
French francs.

     No option, whether an option to subscribe for new shares or to purchase
shares [that have been repurchased by the Company in the market], shall be
awarded within 20 trading days after the ex-coupon date for a dividend or a
preferential right to subscribe for shares in a capital increase.

     The Plan’s approval by the shareholders of Rhône-Poulenc S.A. includes, by
virtue of Article 208-2 of the Law of 1966, the express waiver by the
shareholders, in favor of the recipients of options to subscribe for shares
under the Plan, of their preferential right to subscribe for shares that will
be issued as and when options under the Plan are exercised.

     The Board of Directors is authorized to determine the other terms and
conditions for the awarding and exercise of options, including the following:

•     to establish the conditions under which options will be
awarded and to establish the list or categories of recipients of options as
provided above; to establish the service requirements that
recipients of options must satisfy; to establish the conditions
under which the exercise price and the number of shares [subject to
option] may be adjusted, including under the various circumstances
contemplated by Articles 174-8 through 174-16 of Decree No. 67-236
of March 23, 1967;

•     to establish the periods during which options may be exercised,
provided that the term of any option shall not exceed 10 years from the date
of award;

•     to provide for the possibility of temporarily suspending the
exercise of options during a period not to exceed three months in the event
of financial transactions involving the exercise of a right
attached to shares;

•     to perform or have performed all actions and formalities in
order to effect
 the increase or increases in capital that may result from the
transactions provided

-2-

 

for above and to amend the Articles of Incorporation
and By-laws (status) to reflect such transactions and
generally to do all that is necessary to effect the
foregoing;

•     in its sole discretion, to attribute the costs of any
capital increases to the premium relating to such increases
and to deduct from such amount the sums necessary to
increase the legal reserve to one-tenth of the new capital
after each increase.

     The Board of Directors is granted all authority, subject to the other
conditions approved by shareholders at the Meeting and in accordance with Article
283-4 of the Law of July 24, 1966, to issue, in due time, preferred investment certificates pro
rata with capital increases [resulting from exercise of options], during the month following the end
of each fiscal year, to determine the terms of such issuances and to effect their realization.

     The present Plan supersedes all prior plans authorized by the shareholders
(to the extent not utilized) relating to the awarding of options to subscribe for or purchase shares as contemplated by Articles 208-1
through 208-9-1 of the Law of July 24, 1966.

-3-EX-4.15:

 

Exhibit 4.15

RHÔNE-POULENC S.A.

1997 Stock Option Plan1

     The
Rhône-Poulenc S.A. 1997 Stock Option Plan was
approved at a meeting of the shareholders of the Company held on April 23, 1997 in
Paris, France.

     The
Plan authorizes the Board of Directors (conseil
d’administration) to
award stock options, at one time or from time to time, to certain eligible persons,
under the conditions contemplated by Articles 208-1 through 208-8-1 of the Law
of July 24, 1966 concerning business corporations. Options under the Plan will
confer on the holder the right to subscribe for shares of Rhône-Poulenc S.A.
which may be either newly issued shares or shares repurchased under the
conditions contemplated by law.

     The authority of the Board of Directors to award options under the
Plan will continue in effect for a period of five years, starting from the date of the
shareholders meeting.

     Persons eligible to be awarded options under the 1997 Stock Option Plan are the following:

• employees, or selected employees or selected categories of employees; and

•
authorized agents and representatives (mandataires sociaux), as defined by applicable law;

in
either case, of Rhône-Poulenc S.A. as well as of the
companies and other entities that are directly or indirectly
affiliated with Rhône-Poulenc S.A. under the conditions set
forth in Article 208-4 of the Law of July 24, 1966.

     The maximum nominal value of stock options [based on
exercise price] (whether options to subscribe for new shares or
to purchase shares [that have been repurchased by the Company
in the market]) is established at 225,000,000 French francs.

     The exercise price of options to subscribe for newly
issued shares will be determined on the day that the options
are awarded by the Board of Directors and may not be less than
80% of the average of the first quoted price for the shares on
the Paris Stock Exchange, monthly settlement market, for the 20
trading days preceding the day on which the options are
awarded.

	 	 	1English language version of excepts
from the Procès-Verbal de l’Assemblée
Générale Mixte du 23
avril 1997 of
Rhône-Poulenc S.A.

 

 

     The exercise price of options to purchase shares [that have been
repurchased by the Company in the market] will be fixed on the day that the
options are awarded by the Board of Directors and may not be less than 80% of
the average of the first quoted price for the shares on the Paris Stock
Exchange, monthly settlement market, for the 20 trading days preceding the
day on which the options are awarded, nor less than 80% of the average
repurchase price of the shares held by the Company pursuant to Articles 217-1
and 217-2 of the Law of July 24, 1966.

     No option, whether an option to subscribe for new shares or to
purchase shares [that have been repurchased by the Company in the market], shall be awarded within 20 trading
days after the ex-coupon date for a preferential right to subscribe for shares in a capital increase.

     The
Plan’s approval by the shareholders of Rhône-Poulenc S.A. includes,
by virtue of Article 208-2 of the Law of 1966, the express waiver by the
shareholders, in favor of the recipients of options to subscribe for shares
under the Plan, of their preferential right to subscribe for shares that
will be issued as and when options under the Plan are exercised.

     The Board of Directors is authorized to determine the other terms and
conditions for the awarding and exercise of options, including the following:

	 	•	 	to establish the conditions under which options will be
awarded and to establish the list or categories of recipients of
options as provided above; to establish the conditions under
which the exercise price and the number of shares [subject to
option] may be adjusted, including under the various
circumstances contemplated by Articles 174-8 through 174-16 of
Decree No. 67-236 of March 23, 1967;

	 
	 	•	 	to establish the periods during which options may be exercised,
provided that the term of any option shall not exceed 10 years from the
date of award;

	 
	 	•	 	provide for the possibility of temporarily suspending
the exercise of options during a period not to exceed three
months in the event of financial transactions involving the
exercise of a right attached to shares;

	 
	 	•	 	to perform or have performed all actions and formalities in
order to effect the increase or increases in capital that may result from the
transactions provided for above, and to amend the Articles of Incorporation and By-laws
(status) to reflect such transactions and generally to do all that is
necessary to effect the foregoing;

	 
	 	•	 	in its sole discretion, to attribute the costs of any
capital increases to the premium relating to such increases and
to deduct from such amount the sums necessary to increase the
legal reserve to one-tenth of the new capital after each
increase.

-2-

 

     The present Plan supersedes all prior plans
authorized by the shareholders (to the extent not utilized) relating to the awarding
of options to subscribe for or purchase shares as contemplated by Articles
208-1 through 208-9-1 of the Law of July 24, 1966.

-3-

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