Document:

EX-4.12:

 

Exhibit 4.12

RHÔNE-POULENC RORER INC.

AMENDED AND RESTATED STOCK PLAN

(Amended and Restated effective April 23, 1990)

The Rhône-Poulenc Rorer Inc. Amended and Restated Stock Plan (the “Plan”) (i)
authorizes the Executive Personnel and Compensation Committee (the “Committee”)
of the Board of Directors to provide officers and other key executive and
management employees of Rhône-Poulenc Rorer Inc. and its subsidiaries
(hereinafter, collectively called the “Company’) with certain rights to acquire
common shares of the Company and (ii) provides for the grant of non-qualified
stock options to non-employee directors of the Company in accordance with the
terms specified herein. The Company believes that this incentive program will
cause those persons to contribute materially to the growth of the Company
thereby benefiting its shareholders.

1. Administration.

The Plan, with respect to benefits for key employees, shall be administered and
interpreted by the Committee consisting of not less than three persons
appointed by the Board of Directors of the Company from among its members who
are not employees of the Company. A person may serve on the Committee only if
he or she is not eligible and has not been eligible to receive a grant under
the Plan (other than a grant to a non-employee director pursuant to Section 5
(c)) or stock, stock options or stock appreciation rights of the Company under
any other plan for at least one year before his or her appointment. The
Committee’s decisions shall be final and conclusive with respect to the
interpretation and administration of the Plan and any grant made under it to
key employees.

2. Grants.

Incentives under the Plan shall consist of incentive stock options,
non-qualified stock options and restricted stock grants (collectively,
“Grants”). All Grants shall be subject to the terms and conditions set out
herein and to those other terms and conditions consistent with this Plan as the
Committee deems appropriate. The Committee shall approve the form and
provisions of each Grant to a key employee. Grants under a particular section
of the Plan need not be uniform and Grants under two or more sections may be
combined in one instrument. The principal terms of the non-qualified stock
option grants for non-employee directors are set forth in Section 5(c) of the
Plan and the Committee shall have no discretion with respect thereto.

3. Eligibility for Grants.

Grants may be made to any employee of the Company who is an officer or other
key executive, professional or administrative employee (“Eligible Employee”).
The Committee shall select the persons to receive Grants (“Grantees”) from
among the Eligible Employees and determine the number of shares subject to any
particular Grant. A non-employee director on April 26, 1988 will be
automatically eligible to participate in the Plan on that date. A new
non-employee director (including an employee director who becomes a
non-employee director) will be

 

 

automatically eligible to participate in the Plan as of the date of the first
meeting of the shareholders at which he or she is first elected to the Board of
Directors or at the first meeting of the shareholders after he or she becomes a
non-employee director (whether or not he or she is a candidate for election).

4. Shares Available for Grant.

(a) Shares Subject to issuance or Transfer. Subject to adjustment as provided
in Section 4(b), the aggregate number of the common shares of the Company
(“Company Stock”) that have been or may be issued or transferred under the Plan
is 3,500,000. The shares may be authorized but unissued shares or treasury
shares. The number of shares available for Grants at any given time shall be
3,500,000, reduced by the aggregate of all shares previously issued or
transferred under the Plan and of shares which may become subject to issuance
or transfer under then outstanding Grants. Shares covered by any Grant that
shall have expired shall be available for further Grants.

(b) Recapitalization Adjustment. If any subdivision or combination of shares of
Company Stock or any stock dividend, stock split, capital reorganization,
recapitalization, consolidation, or merger with the Company as the surviving
corporation occurs after the adoption of the Plan, the Committee shall make
such adjustments as it determines appropriate in the number of shares of
Company Stock that may be issued or transferred in the future under Section
4(a). The Committee shall also adjust the number of shares and Option Price in
all outstanding Grants made before such event.

5. Stock Options

The Committee may grant options qualifying as incentive stock options under
Section 422A of the Internal Revenue Code of 1986, as amended (“Incentive Stock
Options”), and non-qualified stock options (collectively, “Stock Options”) to
Eligible Employees. Non-employee directors will receive non-qualified stock
options in accordance with Section 5(c). The following provisions are
applicable to Stock Options:

(a) Option Price. The price at which Company Stock may be purchased by the
Grantee under a Stock Option (“Option Price”) shall be 100% of the fair market
value of Company Stock on the date of the Grant; provided, however, that
Committee may, in its sole discretion, grant to any Eligible Employee a
non-qualified stock option at an Option Price below 100% of the fair market
value of the Company Stock on the date of the grant.

(b) Option Exercise Period. The Committee shall determine the option exercise
period of each Stock Option. The period shall not exceed ten years from the
date of the Grant; provided, however, that the option exercise period for all
Stock Options granted to non-employee directors shall be ten years.
Notwithstanding any determinations by the Committee regarding the exercise
period of any Stock Options, all outstanding Stock Options shall become
immediately exercisable upon a Change in Control of the Company (as defined in
Section 7 below).

(c) Options to Non-Employee Directors. Each non-employee director on April 26,
1988 will automatically receive an option, having a term of ten years, to
purchase 10,000 shares of

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Company Stock at a price equal to its fair market value on the date of grant.
On the date he or she becomes eligible to participate in the Plan, each new
non-employee director will automatically receive an option, having a term of
ten years, to purchase 10,000 shares of Company Stock at a price equal to the
fair market value on the date of grant. If a non-employee director dies during
the ten-year exercise period while a director of the Company, the option may be
exercised within one year of his or her death but not thereafter. If a
non-employee director retires, resigns or fails to be reelected as a director
of the Company during the ten-year exercise period, the option may be exercised
within three months of such date but not thereafter. Stock Options granted to
non-employee directors shall become exercisable at the rate of 20% per year
(determined as of the anniversary date of the Grant); provided, however, that
all Stock Options granted to non-employee directors shall become immediately
exercisable upon a Change in Control of the Company.

(d) Exercise of Option. A Grantee may exercise a Stock Option by delivering a
notice of exercise to the Company with accompanying payment of the Option
Price. The notice of exercise, once delivered, shall be irrevocable.

(e) Satisfaction of Option Price. The Grantee shall pay the Option Price in
cash, by delivering shares of Company Stock already owned by the Grantee and
having a fair market value on the date of exercise equal to the Option Price,
or with a combination of cash and shares. The Grantee shall pay the Option
Price and the amount of withholding tax due, if any, at the time of exercise.
Shares of Company Stock shall not be issued or transferred upon exercise of a
Stock Option until the Option Price is fully paid.

(f) Limits on Incentive Stock Options. Each Grant of an Incentive Stock Option
shall provide that it is not exercisable after the expiration of ten years from
the date such option is granted (or such shorter period as the Committee may
determine); that it is not transferable by the Grantee otherwise than by will
or the laws of descent and distribution, and is exercisable, during the
Grantee’s lifetime, only by the Grantee; and with respect to Incentive Stock
Options granted prior to January 1, 1987, that it is not exercisable while
there is outstanding any Incentive Stock Option granted to the Grantee on an
earlier date to purchase stock of the Company or of a corporation which (at the
time of the granting of such option) is a parent or subsidiary corporation of
the Company, or of a predecessor corporation of any such corporations. The
aggregate fair market value of the Company Stock on the date of the Grant with
respect to which Incentive Stock Options are exercisable for the first time by
a Grantee during any calendar year under the Plan or any other stock option
plan of the Company shall not exceed $100,000. An Incentive Stock Option shall
not be granted to any Eligible Employee who, at the time of grant, owns stock
possessing more than 10 percent of the total combined voting power of all
classes of stock of the Company or of any subsidiary or parent of the Company.

6. Restricted Stock Grants.

The Committee may issue or transfer shares of Company Stock to an Eligible
Employee under a Restricted Stock Grant pursuant to an incentive or long range
compensation plan or program approved by the Committee and adopted by the Board
of Directors of the Company. Upon

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issuance or transfer, the Grantee shall be entitled to vote the shares and to
receive any dividends paid. The following provisions are applicable to
Restricted Stock Grants:

(a) Restrictions on the transfer of shares of Company Stock set forth in
Section 6(c) shall lapse as to one-third of the shares covered by a Restricted
Stock Grant on each anniversary of the date of the Grant until the restrictions
have lapsed on 100% of the shares; provided, however, that upon a Change in
Control of the Company, all restrictions on the transfer of the shares shall
immediately lapse. The period of years during which each one-third segment of
the Grant will remain subject to such restrictions will be designated in the
Grant as the “Restriction Period”.

(b) Requirement of Employment. If the Grantee’s employment terminates during a
period designated in the Grant as the Restriction Period, the Restricted Stock
Grant terminates as to all shares covered by the Grant as to which restrictions
on transfer have not lapsed, and those shares of Company Stock must be returned
immediately to the Company. The Committee may, however, provide for complete or
partial exceptions to this requirement as it deems equitable.

(c) Restrictions on Transfer and Legend on Stock Certificate. During the
Restriction Period, a Grantee may not sell, assign, transfer, pledge, or
otherwise dispose of the shares of Company Stock except to a Successor Grantee
under Section 9(a). Each certificate for shares issued or transferred under a
Restricted Stock Grant shall contain a legend giving appropriate notice of the
restrictions in the Grant. The Grantee shall be entitled to have the legend
removed from the stock certificate or certificates covering the shares subject
to restrictions when all the restrictions have lapsed.

(d) Lapse of Restrictions. All restriction imposed under the Restricted Stock
Grant shall lapse upon the expiration of the Restriction Period if all
conditions stated in Sections 6(b) and (c) have been met; provided, however,
that upon a Change in Control of the Company, all restrictions on the transfer
of the shares shall immediately lapse. In addition, the Committee may
determine, as to any or all Restricted Stock Grants, that all the restrictions
shall lapse, without regard to any Restriction Period, under such circumstances
as it deems equitable.

(e) Other Restrictions. The Committee may impose such other restrictions on a
Restricted Stock Grant as it deems appropriate, in its sole discretion,
including performance and financial goals and standards.

7. Change in Control of the Company.

A Change in Control of the Company shall be deemed to have occurred if (i) any
“person” (as such term is used in Section 13(d) and 14(d)(2) of the Securities
Exchange Act of 1934) is or becomes the beneficial owner, directly or
indirectly, of securities of the Company representing 30% or more of the
combined voting power of the Company’s then outstanding securities; or (ii)
during any period of two consecutive years, individuals who at the beginning of
such period constitute the Board of Directors cease for any reason to
constitute at least the majority thereof unless the election, or the nomination
for election by the Company’s shareholders, of each new director was approved
by a vote of at least two-thirds of the directors then still in office who were
directors at the beginning of the period.

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8. Amendment and Termination of the Plan.

(a) Amendment. The Board of Directors of the Company may amend or terminate the
Plan; provided, however, that any amendment that materially increases the
benefits accruing to Eligible Employees under the Plan, increases the aggregate
number of shares of Company Stock that may be issued or transferred under the
Plan, or materially modifies the requirements as to eligibility for
participation in the Plan, shall be subject to approval by the shareholders of
the Company, and provided further that the Board shall not amend the Plan if
such amendment would cause the Plan or any Grant, or the exercise of any right
under the Plan to fail to comply with the requirements of Rule 16b-3 under the
Securities Exchange Act of 1934, or if such amendment would cause the Plan or
the grant or exercise of an Incentive Stock Option under the Plan to fail to
comply with the requirements of Section 422A of the Internal Revenue Code of
1986, as amended, including, without limitation, a reduction of the Option
Price set forth in Section 5(a) or an extension of the period during which an
Incentive Stock Option may be exercised as set forth in Section 5(b).

(b) Termination of Plan. The Plan shall terminate on the fifth anniversary of
its effective date unless terminated earlier by the Board of Directors of the
Company or unless extended by the Board with the approval of the shareholders.

(c) Termination and Amendment of Outstanding Grants. A termination or amendment
of the Plan that occurs after a Grant is made shall not result in the
termination or amendment of the Grant unless the Grantee consents or unless the
Committee acts under Section 9(a). The termination of the Plan shall not impair
the power and authority of the Committee with respect to outstanding Grants.
Whether or not the Plan has terminated, an outstanding Grant may be terminated
or amended under Section 9(e) or may be amended by agreement of the Company and
the Grantee consistent with the Plan.

9. General Provisions.

(a) Prohibitions Against Transfer. Only a Grantee or his or her authorized
legal representative may exercise rights under a Grant. Such persons may not
transfer those rights. When a Grantee dies, the personal representative or
other entitled to succeed to the rights of the Grantee (“Successor Grantee”)
may exercise such rights. A successor Grantee must furnish proof satisfactory
to the Company of his or her right to receive the Grant under the Grantee’s
will or under the applicable laws of descent and distribution.

(b) Substitute Grants. The Committee may make a Grant to an employee of another
corporation who becomes an Eligible Employee by reason of a corporate merger,
consolidation, acquisition of stock or property, reorganization or liquidation
involving the Company or any of its subsidiaries in substitution for a stock
option or restricted stock grant granted by such corporation (“Substituted
Stock Incentives”). The terms and conditions of the substitute Grant may vary
from the terms and conditions required by the Plan and from those of the
Substituted Stock Incentives. The Committee shall prescribe the provisions of
the substitute Grants.

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(c) Subsidiaries. The term “subsidiary” means a corporation of which the
Company owns directly or indirectly 50% or more of the voting power.

(d) Fractional Shares. Fractional shares shall not be issued or transferred
under a Grant, but the Committee may pay cash in lieu of a fraction or round
the fraction.

(e) Compliance with Law. The Plan, the exercise of Grants, and the obligations
of the Company to issue or transfer shares of Company Stock under Grants shall
be subject to all applicable laws and to approvals by any governmental or
regulatory agency as may be required. The committee may revoke any Grant if it
is contrary to law or modify a Grant to bring it into compliance with any valid
and mandatory government regulation. The Committee may also adopt rules
regarding the withholding of taxes on payments to Grantees.

(f) Ownership of Stock. A Grantee or Successor Grantee shall have no rights as
a shareholder with respect to any shares of Company Stock covered by a Grant
until the shares are issued or transferred to the Grantee or Successor Grantee
on the stock transfer records of the Company.

(g) No Right to Employment. The Plan and the Grants under it shall not confer
upon any Grantee the right to continue in the employment of the Company or any
of its subsidiaries or affect in any way the right of the Company or any of its
subsidiaries to terminate the employment of a Grantee at any time.

(h) Effective Date of the Plan. The Plan, as amended and restated, shall become
effective upon its approval by the shareholders of the Company at the 1988
annual meeting of shareholders which is scheduled to be held on April 26, 1988
or any adjournment of the meeting.

-6-EX-4.13:

 

Exhibit 4.13

RHÔNE-POULENC S.A.

1994 Stock Option
Plan1

          The
Rhône-Poulenc S.A. 1994 Stock Option Plan was approved at a meeting of
the shareholders of the Company held on April 22, 1994 in Paris
la Défense, France. The Plan was adopted pursuant to the provisions of Articles 208-1 et seq. of the
Law of July 24, 1966 (Republic of France) and Articles 174-8 et seq. of the Decree of March 23,
1967 on Business Corporations.

          The
Plan authorizes the Board of Directors (conseil
d’administration) to
award stock options, at one time or from time to time, to employees
and agents of the Company and its affiliated corporations under the conditions contemplated by Article 208-4
of the Law of July 24, 1966. Options under the Plan will confer
on the holder the right to subscribe for newly issued shares of
Rhône-Poulenc S.A.

          The authority of the Board of Directors to award options
under the Plan will continue in effect until the fifth anniversary
of the date of the shareholders meeting.

          The maximum capital increase resulting from subscriptions
for new shares upon exercise of options under the Plan is established at 750,000,000 French
francs during the five-year term of the Plan, including any discount and issuance of preferred
investment certificates (certificats d’investissement
privilégiés).

          Options must be exercised within ten years from the date of grant, but
will not be exercisable during the first three years following the
date of grant.

          The
Plan’s approval by the shareholders of Rhône-Poulenc S.A. includes
the express waiver by the shareholders 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, in accordance with Article 283-4 of the Law of July 24, 1966, shall reserve the rights of
holders of preferred investment certificates and shall, over time, effect one or more
issuances of new preferred investment certificates pro rata with such capital increases [resulting from exercise of options],
during the month following the end of each fiscal year.

          The
exercise price (prix de souscription) of options awarded
under the Plan will be established by the Board of Directors on the
date of grant, provided that the exercise price

	1English language version of excepts from the
Procés-Verbal de l’Assemblée Générale Mixte du 22 avril 1994 of
Rhône-Poulenc S.A.

 

 

shall not be less than the
minimum price determined in accordance with the
legal requirements then in effect and provided further that no option shall
be awarded within 20 trading days after the ex-coupon date for a dividend or
capital increase.

          The exercise price may not be modified unless the Company effects a
financial transaction having an effect on the stock price during the period of
the exercisability of the option. In such a case, the Board of Directors will
effect an adjustment to the number and exercise price of options awarded under
the Plan in accordance with the provisions of applicable law.

          Full authority is granted to the Board of Directors, acting in
accordance with the terms set forth above, to award options under the Plan,
to establish their terms and conditions in accordance with applicable
law and
the Articles of Incorporation and By-laws (status) of the Company, and to take
all necessary actions, including those relating to the listing of the shares
issued upon exercise of options awarded under the Plan, and to carry out one or
several related operations as contemplated by Article 6 of the Articles of
Incorporation and By-laws of the Company relating to the Company’s capital
stock.

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