Option Regulation (SOP)

Generally, the plan will contain:

– a brief presentation of the issuer of the option and, if not the same, the issuer of the underlying security;
– a presentation of the objectives pursued by the SOP;
– an extract of the decision of the body competent to administer the option settlement, a statement of the competences of this body as well as the majorities required for the decisions it takes
– the information and conditions of the offer of subscription rights and, in particular, the characteristics of the subscription right
– the beneficiaries at the time of allocation ;
– a description of the conditions of the offer;
– the rules relating to the transferability of the warrants;
– whether the warrant is registered or bearer;
– the number of shares to which the holder of the subscription right will be able to subscribe;
– the exercise price
– the exercise period ;
– the terms of exercise;
– the consequences of an early departure (dismissal, departure for serious reasons, retirement, death, etc.)
– the characteristics of the shares issued ;
– the general characteristics ;
– transferability;
– various commitments (non-competition, confidentiality, etc.)
– the duration of the offer;
– the terms and conditions of the offer and of the acceptance of the subscription rights
– the form and delivery of the securities ;
– the costs of the issue;
– the modification of the capital structure – anti-dilution clause ;
– a description :
o the legal regime ;
o the applicable tax regime;
o the tax regime of the dividends
o the rights due upon exercise of the subscription right;
– if applicable, the rules providing for the certification of securities
– a jurisdiction clause.
– Miscellaneous clauses (not specific to an SOP but more generally to any agreement).

It is established prior to the offer.