Document:

EX-10.15

 Exhibit 10.15 

2016 AGA Plan 
 Erytech
Pharma 
 A French Joint Stock company (Société Anonyme) with share capital of €792,461.10 

Headquarters: 60, avenue Rockefeller, 69008 Lyon 

Lyon Trade Register 479 560 013 
  

 
 TERMS AND
CONDITIONS OF THE BONUS SHARE 
 ALLOTMENT PLAN 
  

 
 Adopted by the
Board of Directors on October 3, 2016 
  

  
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 2. 
  

 TABLE OF CONTENTS 

 

							
	 1.
	    	GENERAL PROVISIONS	  	 	3	 
			
	 2.
	    	PURPOSE OF THE TERMS AND CONDITIONS	  	 	3	 
			
	 3.
	    	DEFINITIONS	  	 	3	 
			
	 4.
	    	SHARES GOVERNED BY THESE TERMS AND CONDITIONS	  	 	4	 
			
	 5.
	    	ADMINISTRATION OF THE TERMS AND CONDITIONS	  	 	5	 
			
	 6.
	    	LIMITATIONS	  	 	5	 
			
	 7.
	    	DURATION OF THE TERMS AND CONDITIONS	  	 	5	 
			
	 8.
	    	BONUS SHARES ALLOTMENT	  	 	6	 
			
	 9.
	    	SCHEDULE OF BONUS SHARE ALLOTMENT	  	 	6	 
			
	 10.
	    	ALLOTMENT CRITERIA AND CONDITIONS	  	 	9	 
			
	 11.
	    	 MERGER, DEMERGER, PARTIAL CONTRIBUTION OF ASSETS, DISSOLUTION, LIQUIDATION, SALE AND OTHER
EVENTS
	  	 	10	 
			
	 12.
	    	CHANGES TO THE TERMS AND CONDITIONS	  	 	11	 
			
	 13.
	    	TAX AND SOCIAL SECURITY TREATMENT	  	 	11	 
			
	 14.
	    	LIABILITY OF THE COMPANY	  	 	12	 
			
	 15.
	    	PREVENTION OF INSIDER TRADING	  	 	12	 
			
	 16.
	    	INTERPRETATION	  	 	12	 
			
	 17.
	    	APPLICABLE LAW – JURISDICTION	  	 	12	 

  
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	1.	GENERAL PROVISIONS 

 A bonus share allotment plan is a mechanism by which a company
allots at no cost a certain number of its existing or future shares to employees and corporate officers who meet the conditions defined in Article L. 225-197-1, II of
the French Commercial Code, and to employees and corporate officers of the companies or groups related to the Company as this term is used in Article L. 225-197-2, 1 of
the French Commercial Code. 
 Based on the authorization granted under the Twenty-Eighth Resolution of the Combined Shareholders’
Meeting of Erytech Pharma, a joint stock company with share capital of €792,461.10 and headquarters at 60, avenue Rockefeller, 69008 Lyon, registered with the Trade Register of Lyon under number 479 560 013 (the “Company”) on
June 24, 2016, the Board of Directors decided at its October 3, 2016 meeting to adopt the terms and conditions (the “Terms and Conditions”) governing the allotment of bonus shares of the Company to the Beneficiaries (as
this term is defined below), under the stipulations of Articles L. 225-197-1 et seq. of the Commercial Code, which shall regulate said allotment of bonus shares
according to the terms and conditions set forth below. 
 Except where otherwise decided by the Board of Directors, the Terms and Conditions
shall be applicable to all bonus share allotments that may be approved by the Board of Directors on the basis of the Twenty-Eighth Resolution adopted by the Combined Shareholders’ Meeting of June 24, 2016. 

 

	2.	PURPOSE OF THE TERMS AND CONDITIONS 

 Through the allotments of bonus shares, the Company
wishes to attract and retain high quality employees to work in positions of responsibility, to provide additional motivation to the Beneficiaries and thus to make them partners in the development of the Group. 

 

	3.	DEFINITIONS 

  

			
	“Share”	 	means one or more shares of the Company.
		
	“Initial Allotment”	 	means any decision made by the Board of Directors to allot Bonus Shares to a given Beneficiary which grants to this Beneficiary the right to receive all or some of said Bonus Shares at the end of each Vesting Period, provided that
all requirements of the Terms and Conditions have been met.
		
	“Definitive Allotment”	 	means the allotment that occurs at the end of a Vesting Period, after which a Beneficiary becomes the effective and definitive owner of all or some of the Shares comprising the relevant Tranche.
		
	“Authorization of Shareholders”	 	means the authorization to grant Bonus Shares given to the Board of Directors by the Erytech Pharma shareholders at the Combined Shareholders’ Meeting on June 24, 2016 as modified by a subsequent shareholders’
meeting, if appropriate.
		
	“Beneficiary”	 	means an Eligible Person to whom at least one Share has been allotted pursuant to the Terms and Conditions.
		
	“Initial Allotment Date”	 	means the date on which the Board of Directors grants Bonus Share Allotments and is the starting date of the Vesting Period.
		
	“Final Allotment Date”	 	means the date on which each Beneficiary shall effectively acquire all or some of the allotted Shares at the end of a Vesting Period.
		
	“Eligible Person”	 	means a corporate officer (Chairman, Chief Executive Officer or Chief Operating Officer of the Company), or an Employee of the Company or of an Affiliated Company who meets the conditions stipulated in Articles L. 225-197-1 to L. 225-197-5 of the French Commercial Code and satisfies the terms and criteria
defined by the Board of Directors in its decision dated October 3, 2016.
		
	“Manager”	 	means the Board of Directors of the Company, which administers the Terms and Conditions in accordance with Article 5 of these Terms and Conditions.

  
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	“Disability”	 	means a disability of the Beneficiary which corresponds to the second or third category stipulated in Article L.341-4 of the Social Security Code.
		
	“Group”	 	designates the Group composed of the Company and the Affiliated Companies.
		
	“Vesting Periods”	 	means the periods defined in Article 9.1.1, which each begin to run from the Initial Allotment Date, during which Beneficiaries do not yet own the Shares allotted to them but are owners of a conditional, future claim against the
Company.
		
	“Holding Periods”	 	means the periods during which Beneficiaries may not Assign Shares that have been definitively awarded pursuant to Article 9.3 of the Terms and Conditions.
		
	“Terms and Conditions”	 	means this 2016 AGA Plan as adopted by the Manager on October 3, 2016.
		
	“Employee”	 	means an individual person who is employed by the Company or any Affiliated Company and subject to the direction and control of the employing entity in the performance and conduct of the work to be accomplished.
		
	“Company”	 	means Erytech Pharma, a French Joint Stock Company.
		
	“Affiliated Company”	 	 means a company that meets the criteria stipulated in Article
L.225-197-2, I of the French Commercial Code:
  

•    companies or economic interest groups in which the Company holds at least 10% of the
capital or voting rights, either directly or indirectly;
  

•    companies or economic interest groups that directly or indirectly hold at least 10% of
the capital or voting rights in the Company;
  

•    companies or economic interest groups in which at least 50% of the capital or voting
rights is held, either directly or indirectly, by a company that itself holds, directly or indirectly, at least 50% of the capital of the Company.

		
	“Assign”	 	means the act of transferring, even temporarily, the ownership, co-ownership, bare ownership or beneficial interest in any manner whatsoever, including through a pledge or lease of
shares.

  

	4.	SHARES GOVERNED BY THESE TERMS AND CONDITIONS 

 Subject to the application of Article 14
of the Terms and Conditions and in accordance with the Authorization of the Shareholders, the maximum number of Shares in an Initial Allotment under the Terms and Conditions is 250,000 Shares with a par value of €0.10, adjusted if applicable to
take into account any split or reverse split of the Shares, divided into the three tranches (the “Tranches”) described below: 
  

	i.	Tranche 1: 83,333 Shares; 

  

	ii.	Tranche 2: 83,333 Shares, increased by the total number of Shares not definitively awarded to the Beneficiaries for Tranche 1; and 

 

	iii.	Tranche 3: 83,334 Shares, increased by the total number of Shares not definitively awarded to Beneficiaries for Tranche 2; 

with the stipulation that the total number of capital increases that may be performed pursuant to plans to award bonus shares, equity warrants
and stock options adopted by the Board of Directors on October 3, 2016 may not exceed the threshold of 350,000 shares of common stock. 

  
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 5. 
  

  

	5.	ADMINISTRATION OF THE TERMS AND CONDITIONS 

 5.1. Administration 

The Terms and Conditions are administered by the Manager 

5.2. Powers of the Manager 
 Within the
limits of the provisions of the French Commercial Code, the Shareholder Authorization and the Terms and Conditions, the Manager has discretionary power to: 
  

	i.	determine the Eligible Persons to whom Bonus Shares shall be allotted and to decide on the number of Bonus Shares to be granted to each of them in each Tranche; 

 

	ii.	determine the terms and conditions of any Initial Allotment; 

  

	iii.	analyze and interpret the terms of the Terms and Conditions; 

  

	iv.	determine, amend or cancel any provision of the Terms and Conditions; and 

  

	v.	make any necessary or timely decision in the administration of the Terms and Conditions. 

5.3. Impact of the Manager’s Decisions 

The decisions and interpretations made by the Manager are final and are binding on all Beneficiaries. 

 

	6.	LIMITATIONS 

  

	 	a.	The Bonus Shares allocated are governed by Articles L. 225-197-1 to L.
225-197-5 of the French Commercial Code. They do not in any manner whatsoever constitute an element of the employment contract or corporate office or compensation of the
Beneficiary in question. 

 Neither the Terms and Conditions, nor any Bonus Share allotted shall grant a Beneficiary the right
to continued employment in the Company or Affiliated Company, or the continuation of a corporate office in the Company, and do not in any way limit the right that the Beneficiary, the Company or an Affiliated Company may have to terminate under any
circumstance this employment or corporate office, with or without cause. 
  

	 	b.	In accordance with Article L. 225-197-1 II of the French Commercial Code, no Bonus Share may be allotted to an Eligible Person who directly
owns, at the time of the Bonus Share allotment, over 10% of the capital of the Company, or for whom the allotment would raise his stake to more than 10% of the share capital of the Company. 

 

	 	c.	In addition, in application of Article L. 225-197-1 I of the French Commercial Code, the total number of Bonus Shares to allotted may not
exceed 10% of the share capital. 

  

	7.	DURATION OF THE TERMS AND CONDITIONS 

 Using the Shareholders’ Authorization and the
powers granted to it by said Authorization, the Board of Directors, in its October 3, 2016 decision, approved the Terms and Conditions that took effect on October 3, 2016, and the Bonus Shares may be allotted from that date. The Bonus
Shares may allotted until the expiration of a period of thirty-eight (38) months from the Shareholders’ Authorization. Unless the Terms and Conditions are canceled early pursuant to Article 12, they shall remain in effect until the
expiration of the Holding Period of the last Bonus Share allotted. 

  
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 6. 
  

	8.	BONUS SHARES ALLOTMENT 

 8.1. Allotment decision 

The Manager may decide to allot Bonus Shares to Eligible Persons at any time up to the limits of the Shareholders’ Authorization and the
duration of the Terms and Conditions stipulated in Article 7 above. 
 8.2. Allotment of Shares and Acceptance by Beneficiaries 

Each Eligible Person is informed of an Initial Allotment by letter indicating (i) the number of Bonus Shares allotted to him/her for each
Tranche; (ii) the duration of each Vesting Period, (iii) the duration of the Holding Periods, (iv) the conditions and criteria to be met for the allotment to become final at the end of each Vesting Period; and (v) all
responsibilities of the Eligible Person. A copy of the Terms and Conditions shall be attached to this notification letter. A model of the notification letter appears in Appendix A of the Terms and Conditions. 

This notification letter is sent to the Beneficiary by registered mail with return receipt requested or hand delivered to the Beneficiary by
the Manager or any other duly authorized person, and the Beneficiary acknowledges receipt. 
 If a Beneficiary wishes to take advantage of
the Initial Allotment, he/she must indicate approval to the Company by sending, via registered mail with return receipt requested or hand delivery to the Manager, the second copy of the notification of the Initial Allotment to the Company, with his
or her signature under the heading “Bon pour Acceptation” (“Approved”) within thirty (30) days from receipt of the notification of the Initial Allotment. 

If this is not done, the Initial Allotment shall expire. 

The acceptance of the Terms and Conditions by Beneficiaries is deemed acceptance of all provisions therein. 

 

	9.	SCHEDULE OF BONUS SHARE ALLOTMENT 

 9.1. Vesting Periods 

 

	 	9.1.1.	Duration of Vesting Periods 

 The Initial Allotment to Beneficiaries will not become
final: 
  

	 	i.	for Shares allotted in Tranche 1: until the end of a Vesting Period of one (1) year from the Initial Allotment decision made by the Manager; 

 

	 	ii.	for Shares allotted in Tranche 2: until the end of a Vesting Period of two (2) years from the Initial Allotment decision made by the Manager; 

 

	 	iii.	for Shares allotted in Tranche 3: until the end of a Vesting Period of three (3) years from the Initial Allotment decision made by the Manager; 

provided that, during the entire Vesting Period in question, the Beneficiary has retained the status of Eligible Person and has complied with
the allotment criteria set out in Article 10 below. 

  
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 7. 
  

	 	9.1.2.	Pursuant to Article L. 225-197-3 of the French Commercial Code, the rights arising from the Initial Allotment may not be assigned or
transferred by any means until the end of the Vesting Period in question. 

 Therefore, in the event of resignation, departure
or retirement, termination of an employment contact of a Beneficiary by mutual agreement with the company concerned, or dismissal, withdrawal or non-renewal of the corporate position of a Beneficiary during a
Vesting Period, for any reason, the Beneficiary shall lose any right to the Final Allotment and may not claim any compensation in this respect, except where previously decided to the contrary by the Manager. 

 

	 	9.1.3.	Termination of a Beneficiary and/or dismissal and/or non-renewal of the Beneficiary’s corporate positions during the Vesting Period 

 

	 	a)	If a Beneficiary holds an employment contract only, the loss of the right to the Final Allotment shall occur on the date of receipt (or of the first presentation) of the notification of dismissal, notwithstanding
(i) the possible existence of an advance notice period, whether given or not, (ii) any dispute by the Beneficiary of his dismissal and/or the causes of the dismissal, and (iii) any legal decision that may call into question the
legitimacy of the dismissal. 

  

	 	b)	If a Beneficiary holds a corporate office only, the loss of the right to the Final Allotment shall occur on the date of the meeting of the competent corporate entity that decided to dismiss or replace the Beneficiary in
his corporate position if the Beneficiary was present at the meeting, or as of the date the Beneficiary received notification of this decision if the Beneficiary did not attend the meeting, notwithstanding (i) the possible existence of an
advance notice period, whether given or not, (ii) any dispute by the Beneficiary of his dismissal and/or the causes of the dismissal, and (iii) any legal decision that may call into question the legitimacy of the dismissal.

  

	 	c)	If a Beneficiary holds both an employment contract and a corporate office and loses these two positions simultaneously or successively, the loss of the right to the Final Allotment shall begin on the date of receipt of
the last of the two notifications described in the previous paragraphs. 

  

	 	9.1.4.	Resignation during the Vesting Period 

 If the Beneficiary resigns as an employee, if he
is only an employee, or as a corporate officer, if only a corporate officer, or resigns from his/her position as employee and corporate officer simultaneously or successively if the Beneficiary holds both positions concurrently, the loss of the
right to the Final Allocation shall occur: 
  

	 	•	 	if the Beneficiary is an employee or corporate officer only, on the date the Company receives the Beneficiary’s letter of resignation or the date it is hand delivered to a duly authorized representative of the
company that employs him/her; or 

  

	 	•	 	if the Beneficiary is both an employee and a corporate officer, on the date the first letter of resignation is received by the Company or is hand delivered to a duly authorized representative of the company that employs
him/her; 

 notwithstanding the possible existence of advance notice, whether given or not. 

  
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 8. 
  

	 	9.1.5.	Termination by mutual agreement of the Beneficiary and the company that employs the Beneficiary during the Vesting Period 

If an employment contract is terminated by mutual agreement of the Beneficiary and the company that employs him/her (including conventional
termination) if the Beneficiary is an employee only, or if an employment contract is terminated by mutual agreement of the Beneficiary and the company that employs him/her, and there is a simultaneous or successive resignation or dismissal from
his/her corporate office if the Beneficiary held both positions, the Beneficiary shall lose his/her right to the Final Allotment as of the first date an agreement is signed terminating the Beneficiary’s position as an employee (or the date on
which the administration approved the conventional termination), or the date of receipt of the notification of termination of the corporate office or the date such office was resigned. 

 

	 	9.1.6.	Retirement of a Beneficiary during the Vesting Period, death, disability 

 In the event
of the retirement of a Beneficiary during a Vesting Period, the Beneficiary shall lose the right to the Final Allotment as of the date of departure. 

However, as an exception to the preceding: 
  

	 	i.	if the company that employs the Beneficiary forces the Beneficiary to retire during a Vesting Period in compliance with legal and regulatory provisions, the Beneficiary shall retain his/her right to the Final Allotment
at the end of the Vesting Period, provided they comply with the rules for each Vesting Period; 

  

	 	ii.	in the event of the death of a Beneficiary during the Vesting Period, the heir may request the Final Allotment within a period of six (6) months after the death; 

 

	 	iii.	in the case of disability, a Beneficiary may request the Final Allotment of the Shares within a period of six (6) months of the event resulting in the disability. 

 

	 	9.1.7.	It is specified that, during Vesting Periods, Beneficiaries are not owners of the Shares and have no related rights. In particular, they cannot collect nor have a right to dividends, have no voting rights, and
have no right to the information communicated to shareholders attached to the Shares. 

 9.2. Delivery of the
Securities 
 At the end of each Vesting Period, provided the Beneficiaries have met the vesting conditions and criteria defined in
Article 10 below, the Company shall transfer and inform the Beneficiaries of the number of shares definitively allotted as determined by the Board of Directors. A model of the notification letter appears in Appendix B of the Terms and
Conditions. 
 9.3. Holding periods of the Shares 
  

	 	9.3.1.	If the Beneficiary is a corporate officer 

 As of the Final Allotment of the Shares, the
Beneficiary must hold: 
  

	 	i.	all Shares vested in Tranche 1 for a Holding Period of one (1) year; and 

  

	 	ii.	at least ten per cent (10%) of the aggregate number of vested Shares in each of the Tranches until the termination of his or her position. 

  
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 9. 
  

 It is specified that no Holding Period is required for the vested Shares allotted in Tranche
2 or Tranche 3, subject to the stipulations of paragraph (ii) above. 
  

	 	9.3.2.	If the Beneficiary is not a corporate officer 

 As of the Final Allotment of the Shares,
the Beneficiary must hold all vested Shares in Tranche 1 for a Holding Period of one (1) year. 
 No Holding Period is required for the
vested Shares in Tranche 2 or Tranche 3. 
  

	 	9.3.3.	Vested shares must be recorded in registered form in an account noting this holding restriction, as appropriate. 

However, the Shareholders’ Meeting stipulated, provided that the transfer of the Shares vested before the end date stated in the preceding
paragraph does not compromise the Preferential Treatment as defined in Article 13 of this document, that Shares vested shall be freely transferable, in compliance with the bylaws of the Company and regulations governing companies whose shares are
listed on a regulated market, in the event of: 
  

	 	i.	the Disability of the Beneficiary as provided for under Article L. 225-197-1, I para. 6 of the French Commercial Code, or

  

	 	ii.	the death of the Beneficiary, via his/her heirs pursuant to Article L.225-197-3, para. 2 of the same Code. 

 

	 	9.3.4.	A Beneficiary holds the status of shareholder as soon as the Shares are vested and throughout the Holding Period. Therefore, a Beneficiary may exercise the rights attached to the Bonus Shares during the Holding
Period. 

 At the end of the Holding Period, the vested Shares may be freely transferred by the Beneficiary, subject to the
Company’s bylaws and the regulations governing companies whose shares are listed on a regulated market. 
  

	10.	ALLOTMENT CRITERIA AND CONDITIONS 

  

	 	10.1.	Criteria and conditions 

 The Vesting of the Shares depends on compliance with the following two
conditions set by the Manager, which must be confirmed at the end of each Vesting Period: 
  

	 	i.	Beneficiaries must maintain the status of Eligible Persons throughout the entire Vesting Period in question; and 

  

	 	ii.	Achievement of a performance objective based on the increase in the price of the Company’s share between the Initial Allotment Date and the Final Allotment Date of the Shares, determined using the following
formula: 

 T = (ERYPi / ERYP2016) - 1 

in which: 
 T: is the
rate of achievement of performance targets, expressed as a percentage. 
 ERYPi: is the average of the closing prices of the
Company’s share for the 40 days preceding the Final Allotment Date. 

  
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 10. 
  

	 	10.2.	Measuring performance 

 The rate of achievement of performance objectives, measured by
the Manager at the end of each Vesting Period, is used to determine the number of Shares to be definitively allotted to Beneficiaries in a Tranche at the end of each Vesting Period, by multiplying the number of Shares initially allotted for the
Tranche by the rate of achievement of the performance objectives. 
 If the rate of achievement of the performance objectives is less than or
equal to 0%, no Share shall be definitively allotted to a given Beneficiary for that Tranche, whereas if the rate of achievement of the performance objectives is equal to or greater than 100%, all of the Shares initially allotted to a given
Beneficiary for that Tranche shall be definitively allotted. 
 When the number of Bonus Shares obtained is not a whole number, the number of
Shares definitively allotted shall be rounded down to the closest whole number. 
  

	 	10.3.	Measurement of performance in the event of an anticipated transfer of control 

 As an
exception to the above, in the event of a merger by absorption of the Company by another company or in the event of an Offer, after the Tranche 1 Vesting period, that is likely to result in a Change of Control or that is filed following a Change of
Control (designated hereinafter in each case as an “Operation”), all the Shares initially allotted and not yet vested on that date shall be automatically and definitively allotted early by the Board of Directors of the Company 

“Change of Control” designates the event by which one or more persons acting in concert come to hold more than 50% of the
capital or voting rights of the Company. 
 “Offer” designates any public offer (tender offer, exchange, combined, etc.) for
all of the Company’s shares (i) which has been filed with the French Autorité des marchés financiers, (ii) has been declared compliant by the French Autorité des marchés financiers, (iii) has been
recommended or approved by the Board of Directors of the Company and, (iv) if it has been subject to the normal procedure rules, has been positive. 
  

	11.	MERGER, DEMERGER, PARTIAL CONTRIBUTION OF ASSETS, DISSOLUTION, LIQUIDATION, SALE AND OTHER EVENTS 

 In
the case of transactions affecting the Company that could directly or indirectly impact the Terms and Conditions, such as merger, demerger, partial contribution of assets, dissolution followed by liquidation or not, the sale of shares composing the
capital of the Company, or in the event of an Offer during the Vesting Period of Tranche 1 and, in general, in the event of a restructuring that affects the Company (such operations are hereinafter designated as “Restructuring of the
Company”), the Manager may, at its sole discretion: 
 simply keep the Terms and Conditions in effect, provided that the Company retains its legal
personality; or 
 cancel the Terms and Conditions and, if the shares have already been awarded, pay the Beneficiaries an indemnity in an amount equal to
the value of the Shares on the date of cancellation of the Terms and Conditions; it is emphasized as needed that no indemnity or compensation shall be due to the Beneficiaries if the cancellation of the Terms and Conditions decided on by the Company
is the result of any legal or regulatory amendment applicable to bonus share allotments, including changes that would make such allotments more costly for the Company than on the date of implementation of the Terms and Conditions; or 

carry out an exchange of the Bonus Shares allotted under the Terms and Conditions for new similar shares (or for any other equivalent right) that have
identical features, provided that this exchange is performed in the context of a transaction approved or authorized by the collectivity of shareholders or any competent entity of the Company, in accordance with the law and the bylaws of the Company;
or 

  
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 11. 
  

 generally, make any change to the Terms and Conditions which the Manager deems appropriate in order to take
into consideration the Restructuring of the Company, as long as the rights of the Beneficiaries are not negatively impacted by such a change. 
  

	12.	CHANGES TO THE TERMS AND CONDITIONS 

  

	 	12.1.	Change 

 The Manager may amend the provisions of these Terms and Conditions, suspend them
or terminate them at any time. 
  

	 	12.2.	Consequences of a Change or Cancellation 

 No change, alteration, suspension or
cancellation of the Terms and Conditions may reduce the rights of a Beneficiary without the agreement of the Beneficiary, unless said change results from a legislative or regulatory provision that has recently taken effect or from any other
enforceable provision imposed on the Company or an Affiliated Company. 
 Beneficiaries shall be informed of any change in the Terms and
Conditions that impacts the rights they enjoy under these Terms and Conditions. This notification to Beneficiaries may be done individually or by any other means the Board of Directors deems sufficient and appropriate. 

 

	 	12.3.	Management 

 The management of the Terms and Conditions is assigned to the Manager.
However, the Manager reserves the option of transferring management of the Terms and Conditions to any financial institution, in which case said institution shall inform the Beneficiaries. 

 

	13.	TAX AND SOCIAL SECURITY TREATMENT 

 The Beneficiary shall pay all taxes and withholding
for which he/she is responsible under the tax rules in in effect on the due date of said taxes and withholding. 
 The tax and social
security rules applicable to bonus share allotments differ depending on the nationality and country of residence of the Beneficiaries. Both the Beneficiary and his/her employer may be subject to reporting and/or contribution requirements because of
the Initial Allotment and/or Final Allotment, and/or the sale of the Shares. The Beneficiary assumes sole responsibility for compliance with income tax and social security reporting and contributions incumbent on them because of the aforementioned
events. 
 However, if the Company or an Affiliated Company must pay taxes, social security contributions, or any other similar charge, in
the name and on behalf of the Beneficiary because of the Initial and/or Final Allotment, the Beneficiary expressly authorizes his or her employer, the Company or any agent designated for this purpose to deduct these amounts from the
Beneficiary’s compensation, or, if applicable, from the proceeds from the sale of the Shares. The Company reserves the right to suspend delivery of the Shares vested by a Beneficiary until he/she has paid all amounts for which he/she is
responsible or until the method of payment of these sums has been agreed with the Company or Affiliated Company concerned. 
 Likewise, on an
exceptional basis, the Company may suspend delivery of vested Shares to one or more Beneficiaries at the end of a Vesting Period if local formalities in the country or countries concerned have not been completed. 

All information on the tax treatment applicable to the Beneficiary under the Terms and Conditions, which is transmitted by the Company to the
Beneficiary, is provided for information purposes only and may not be construed as comprehensive by the 

  
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 12. 
  

 
Beneficiary. In particular, this type of information cannot cover the diversity of tax and personal situations of the Beneficiaries. Each Beneficiary should consult with advisors of his or her
choice to analyze their personal situation. In particular, the attention of the Beneficiaries is called to the fact that, in the case of an international transfer within the Group that results in a change of tax residence and/or liability for a
social security plan, occurring between the Initial Allotment Date and the sale of the Shares, the Beneficiary may be responsible for reporting and/or contribution obligations in different countries. As appropriate, the Beneficiary’s tax
obligations may be proportional to the period during which the Beneficiary has been a tax resident in a specific country. 
  

	14.	LIABILITY OF THE COMPANY 

 Neither the Company nor its Affiliated Companies may be held
liable under any circumstance if, for any reason not chargeable to the Company or its Affiliated Companies, a Beneficiary is unable to vest the Shares allotted to him/her. 
  

	15.	PREVENTION OF INSIDER TRADING 

 All Beneficiaries must, under their sole, full and entire
responsibility, comply with the regulations on insider trading and insider dealing and comply with the prevention mechanisms implemented by the Group. 

All persons are required to refrain from buying and selling the shares of a listed company, or from transmitting information with the same
intent, when they are party to “privileged” information, meaning information that has not yet been published and that may have an influence on the market price of a given share. Persons who break this rule are liable for legal and
financial sanctions. This rule applies to Beneficiaries who receive Shares under these Terms and Conditions, particularly with regard to a decision to sell these Shares. 

The Board of Directors of the Company wishes to expressly point out to each Beneficiary the regulations in force concerning persons in
possession of “privileged” information. 
 Furthermore, in accordance with Article L. 225-197-1 of the French Commercial Code, the Shares may not be sold: 
  

	 	1.	within ten market trading days prior to and three market trading days following the publication date of the consolidated financial statements, or, if no consolidated statement is published, the publication date of the
Company’s annual financial statements; 

  

	 	2.	during the period between the date on which the Company’s management bodies learn information which, if it were made public, could significantly impact the Company’s share price, and the date ten market
trading days after the date on which this information is made public. 

  

	16.	INTERPRETATION 

 If a term or condition of these Terms and Conditions is considered null
and void under the laws of a Beneficiary’s place of residence, the Terms and Conditions shall be interpreted with regard to such a Beneficiary as if they did not contain the term or condition in question. Any other term or condition of these
Terms and Conditions that is valid shall remain in effect and must be interpreted and applied in such a way as to comply with the Terms and Conditions to the greatest extent possible. 

 

	17.	APPLICABLE LAW – JURISDICTION 

 The Terms and Conditions are governed by French law,
in particular by the provisions of Articles L. 225-197-1 et seq. of the French Commercial Code. 

Any dispute arising from these Terms and Conditions shall fall within the exclusive jurisdiction of the competent court within the jurisdiction
of the Court of Appeals for the location of the Company’s headquarters. 

  
 Page 12 of
16 

 13. 
  

 The Bonus Share Allotment pursuant to these Terms and Conditions authorizes the Company to
request at any time that Beneficiaries comply with all legislative and regulatory provisions governing these Bonus Shares. 

  
 Page 13 of
16 

 14. 
  

 APPENDIX A 

MODEL OF LETTER FOR NOTIFICATION OF INITIAL ALLOTMENT 

Erytech Pharma 
 A French
Joint Stock company (Société Anonyme) with share capital of €792,461.10 
 Headquarters: 60, avenue Rockefeller, 69008 Lyon

 Lyon Trade Register 479 560 013 

Lyon, [●] 

“Beneficiary name” 

Dear Sir or Madam, 
 We are
honored to inform you that the Board of Directors of the Company has decided to allot Bonus Shares of the Company to you in accordance with the provisions of the terms and conditions of the bonus shares allotment plan, a copy of which is attached
hereto in Appendix 1 (the “Terms and Conditions”). 
 The capitalized terms not defined in this document have the
meaning attributed to them in the Terms and Conditions. 
 These Bonus Shares have been allocated under the provisions of Articles L. 225-197-1 et seq. of the French Commercial Code. 
 By decision of
the Board of Directors, you have been allocated on [●] : 
 [●] ([●])
Shares of the Company for Tranche 1; 
 [●] ([●]) Shares of the Company for Tranche 2, increased by the
total number of Shares not yet vested and allocated in Tranche 1; and 
 [●] ([●]) Shares of the Company for
Tranche 3, increased by the total number of Shares not yet vested and allocated in Tranche 2; 
 under the conditions set forth in these
Terms and Conditions and summarized below. 
 1.    Vesting Periods 

The Initial Allotment shall become final only at the end of the following Vesting Periods, subject to compliance with the allotment criteria
and conditions set forth below at the end of each of the Vesting Periods: 
 one (1) year beginning on [●]
for Tranche 1; 
 two (2) years beginning on [●] for Tranche 2; and 

three (3) years beginning on [●] for Tranche 3. 

2.    Allotment criteria and conditions 

The Final Allotment assumes that you have met the following conditions and criteria for each Vesting Period, which are described more fully in
Articles 9 and 10 of the Terms and Conditions: 
 You must have been connected to the Company by a corporate office, or to the Company or an Affiliated
Company through a permanent or temporary employment contract or a professional training contract throughout the entire Vesting Period in question. 

In the event of resignation, dismissal or removal during a Vesting Period, for any reason, you will lose any right to the Final Allotment and
may not claim any indemnity in this respect. 
 In the event of resignation, the loss of the right to the Final Allotment shall occur on the
date of receipt by the Company or the relevant Affiliated Company of your letter of resignation or on the date it is hand delivered to a duly authorized representative of the company that employs you, notwithstanding the possible existence of prior
notice, whether given or not. 
 In the event of dismissal or removal, the loss of the right to the Final Allotment shall occur on the date
of receipt (or of the first presentation) of the letter of notification of dismissal or removal, notwithstanding (i) the possible existence of prior notice, whether given or not, (ii) any challenge to your dismissal or removal and/or the
grounds of the dismissal or removal, and (iii) any legal decision that may call into question the justification of the dismissal or removal. 

However, as an exception to the preceding: 

if you retire or are laid off for economic reasons during a Vesting Period, you shall retain your right to the Final
Allotment at the end of the Vesting Period, provided you comply with the rules for each Vesting Period; 

  
 Page 14 of
16 

 15. 
  

 in the event of the death or disability during a Vesting Period, your heirs
or assigns may request the Final Allotment within a period of six (6) months from the date of your death or disability; 
 the achievement of a
performance target based on the increase in the price of the Company’s share between the Initial Allotment Date and the Final Allotment Date of the Shares, determined using the following formula: 

T = (ERYPi / ERYP2016) - 1 
 in
which: 
 T: is the rate of achievement of the performance targets, expressed as a percentage. 

ERYP2016: is the average of the closing prices of the Company’s share for the 40 days preceding the Initial Allotment Date.

 ERYPi: is the average of the closing prices of the Company’s share for the 40 days preceding the Final Allotment Date.

 At the end of each Vesting Period, subject to compliance with the criteria and achievement of the conditions defined above, the Company
will transfer a defined number of Shares to you in accordance with Article 10 of the Terms and Conditions. Accordingly, you will become a shareholder of the Company on these dates. 

3.    Holding period 

As of the Final Allotment of the Shares, you agree to hold all said Shares for a Holding Period of one (1) year for Tranche 1. No Holding
Period is required for Shares that have been vested to you for Tranche 2 or Tranche 3, subject to the holding commitments applicable to corporate officers, as detailed more fully in Article 9.3 of these Terms and Conditions. 

For this purpose, the Bonus Shares allotted must be recorded in registered form in an account that notes this restriction. 

You shall have the status of shareholder once the Shares are vested and throughout the Holding Period, notwithstanding the obligation to hold
your shares. As such, you may exercise the rights attached to the Bonus Shares allotted to you during the Holding Period, in particular the right to information, the right to attend Shareholders’ Meetings, the right to vote, the right to
dividends and the preemptive subscription right. 
 At the end of the aforementioned Holding Period, the Bonus Shares allotted shall be
available to you and may be freely transferred. 
 Your acceptance of the Initial Allotment under the conditions stated above implies
agreement to all the terms of these Terms and Conditions. 
 If you wish to accept this Initial Allotment, please sign the two copies of the
Initial Allotment notification, keeping one for your records and returning the other to the Company. 
 Sincerely yours, 

 

							
		 		 		 	Approved (Bon pour acceptation)
				
	  

[●]
	 		 		 	  
 [Beneficiary’s
name]

 Appendix 1: Terms and Conditions 

  
 Page 15 of
16 

 16. 
  

 APPENDIX B 

MODEL OF LETTER FOR NOTIFICATION OF FINAL ALLOTMENT 

Erytech Pharma 
 A French
Joint Stock company (Société Anonyme) with share capital of €792,461.10 
 Headquarters: 60, avenue Rockefeller, 69008 Lyon

 Lyon Trade Register 479 560 013 

Lyon, [ date ] 

“Beneficiary name” 

We are honored to inform you that, following deliberations on [●], the Board of Directors of the Company, ruling by
delegation of authority granted by the Combined Shareholders’ Meeting of June 24, 2016, in the context of the bonus share allotment plan set up by the Company, has made the final allotment to you of
[●]([●]) shares of the Company for Tranche [1 / 2 / 3]. 
 These shares were registered
on today’s date in an individual shareholder’s account of the Company opened in your name. 
 [We remind you that, in accordance
with the Terms and Conditions of the bonus share allotment plan adopted by the Board of Directors on [●], all of the [●] shares vested to you for Tranche 1 are
non-transferable for a period of one (1) year from this date.] 
 The value of these shares is
approximately [●] euros as of this date. 
 [The Board of Directors of the Company has set 10% of the number of
bonus shares allotted to you (i.e.[●] shares) as the number of bonus shares that you must retain until the end of your duties as a corporate officer of the Company, pursuant to Article L. 225-197-1-II of the French Commercial Code.] 

Sincerely yours, 
  

							
		 		 		 	Approved (Bon pour acceptation)
				
	  

[●]
	 		 		 	  
 [Beneficiary’s
name]

  
 Page 16 of
16Exhibit 10.1

 

 

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

FOR IMMEDIATE RELEASE

October 6 2017

Recommended All-Share Offer by John Wood Group PLC for Amec Foster Wheeler plc

Filing of Form 15F with the United States Securities and Exchange Commission

to Terminate Registration and Reporting Obligations

John Wood Group PLC (“Wood Group”) and Amec Foster Wheeler plc (“Amec Foster Wheeler”) are pleased to announce that the scheme of arrangement under Part 26 of the Companies Act of 2006, relating to the recommended all-share offer by Wood Group for Amec Foster Wheeler originally announced on March 13 2017, has become effective.

Pursuant to Rule 12g-3 under the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”), Wood Group has succeeded to the Section 12 registration, and Section 13(a) reporting obligations under the Exchange Act, of Amec Foster Wheeler.   However, Wood Group has filed a Form 15F with the United States Securities and Exchange Commission (“SEC”) to voluntarily terminate the registration of the Wood Group ordinary shares under Section 12(g) as well as Wood Group’s reporting obligations under Section 13(a) of the Exchange Act.  Pursuant to Rule 12h-6 under the Exchange Act, the SEC permits a foreign private issuer to terminate the registration of a class of securities under Section 12(g) of the Exchange Act if it meets certain requirements.  As a result of filing the Form 15F, Wood Group’s reporting obligations under the Exchange Act were suspended immediately and will terminate no more than 90 days after the date hereof, barring any objections from the SEC.

Enquiries

Wood Group

	
Andrew Rose, Head of Investor Relations

	
Tel: +44 (0)12 2453 2716

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