Section 4: Changes in share capital and employee share ownership.

I.-The Extraordinary General Meeting, on the report of the Board of Directors or the Management Board, as the case may be, and on the special report of the company’s Statutory Auditors or, if none has been appointed, of a Statutory Auditor appointed for this purpose in accordance with the procedures set out in Articles L. 225-228 or L. 22-10-66, may authorise the Board of Directors or the Management Board to…

I.-Shares may be allocated, under the same conditions as those mentioned in Article L. 225-197-1 :

The rights resulting from the allocation of free shares are non-transferable until the end of the vesting period. In the event of the death of the beneficiary, his heirs may request the allocation of the shares within six months of the death. These shares are freely transferable.

A special report informs the Ordinary General Meeting each year of the transactions carried out under the provisions of Articles L. 225-197-1 to L. 225-197-3. This report also gives an account of: the number and value of shares which, during the year and by virtue of the offices and functions held in the company, have been allocated free of charge to each of these officers by the company and by…

The Ordinary General Meeting of the company that directly or indirectly has majority control over the company awarding the free shares shall be informed in accordance with the conditions set out in article L. 225-197-4.