Common use of Composition of the Supervisory Board Clause in Contracts

Composition of the Supervisory Board. 1. The Company has a Supervisory Board comprising a maximum of ten members selected exclusively among shareholders who are neither General nor Managing Partners, as well as one or two members representing employees, appointed in accordance with the terms and conditions set out in article 12.6 below. 2. The members of the Supervisory Board are appointed or dismissed by the shareholders in an Ordinary General Meeting. Shareholders who are also General Partners are not entitled to vote on the corresponding resolutions. 3. The term of office of members of the Supervisory Board may not exceed four years. It terminates at the close of the Annual General Meeting called to approve the financial statements for the preceding year and held during the year in which the term of the member expires. Members of the Supervisory Board may be re-appointed. No more than a third of the members of the Supervisory Board in office may be over seventy-five years old. If this proportion is exceeded, the oldest member is automatically deemed to have resigned. 4. Members of the Supervisory Board must each own at least one hundred and fifty shares of the Company and have three months from the date of their appointment in which to acquire such shares, if not already in their possession at the time of their appointment. Any member who ceases to own the required number of shares during their term of office will automatically be deemed to have resigned if this situation is not remedied within three months. 5. In the event of a vacancy following death, resignation or for any other reason, the Board may, with prior consent from the Managing Partners, appoint one or more replacement members on a provisional basis. The Board must make the appointment within fifteen days following the vacancy if the number of its members falls below three. Provisional appointments are confirmed at the next General Meeting of shareholders. The replacement member’s term of office is for the period remaining until the end of the predecessor's term of office. If a provisional appointment is not confirmed at the General Meeting, the Supervisory Board's decisions nonetheless remain valid. 6. When the provisions of article L. 225-79-2 of the French Commercial Code apply to the Company, the Supervisory Board also includes one or two members representing Group employees. The Supervisory Board will have two employee representative members when the number of the other Board members as referred to in article 12.1 above exceeds eight, and one employee representative member when the number of the other Board members as referred to in article 12.1 above is equal to or less than eight. Employee representative members of the Supervisory Board are appointed for four-year terms. If the number of the other Supervisory Board members as referred to in article 12.1 above falls to eight or less, the terms of office of the sitting employee representative members will not be affected and will remain in force until their scheduled expiry date. The employee representative member(s) of the Supervisory Board are appointed by the Group Employees’ Committee. If the seat of an employee representative member of the Supervisory Board falls vacant for any reason, such seat will be filled in accordance with the terms and conditions set out in article L. 225-34 of the French Commercial Code. As an exception to the rule in article 12.4 above, the employee representative members of the Supervisory Board are not required to hold a minimum number of the Company’s shares.

Composition of the Supervisory Board. 1. The Company has a Supervisory Board comprising a maximum of ten members thirteen members, selected exclusively among shareholders who are neither General nor Managing Partners, as well as one or two members representing employees, appointed in accordance with the terms and conditions set out in article 12.6 below. 2. The members of the Supervisory Board are appointed or dismissed by the shareholders in an Ordinary General Meeting. Shareholders who are also General Partners are not entitled to vote on the corresponding resolutions. 3. The term of office of members of the Supervisory Board may not exceed four years. It terminates at the close of the Annual General Meeting called to approve the financial statements for the preceding year and held during the year in which the term of the member expires. Members of the Supervisory Board may be re-appointed. No more than a third of the members of the Supervisory Board in office may be over seventy-five years old. If this proportion is exceeded, the oldest member is automatically deemed to have resigned. 4. Members of the Supervisory Board must each own at least one hundred and fifty shares of the Company and have three months from the date of their appointment in which to acquire such shares, if not already in their possession at the time of their appointment. Any member who ceases to own the required number of shares during their term of office will automatically be deemed to have resigned if this situation is not remedied within three months. 5. In the event of a vacancy following death, resignation or for any other reason, the Board may, with prior consent from the Managing Partners, appoint one or more replacement members on a provisional basis. The Board must make the appointment within fifteen days following the vacancy if the number of its members falls below three. Provisional appointments are confirmed at the next General Meeting of shareholders. The replacement member’s term of office is for the period remaining until the end of the predecessor's term of office. If a provisional appointment is not confirmed at the General Meeting, the Supervisory Board's decisions nonetheless remain valid. 6. When the provisions of article L. 225-79-2 of the French Commercial Code apply to the Company, the Supervisory Board also includes one or two members representing Group employees. The Supervisory Board will have two employee representative members when the number of the other Board members as referred to in article 12.1 above exceeds eight, and one employee representative member when the number of the other Board members as referred to in article 12.1 above is equal to or less than eight. Employee representative members of the Supervisory Board are appointed for four-year terms. If the number of the other Supervisory Board members as referred to in article 12.1 above falls to eight or less, the terms of office of the sitting employee representative members will not be affected and will remain in force until their scheduled expiry date. The employee representative member(s) of the Supervisory Board are appointed by the Group Employees’ Committee. If the seat of an employee representative member of the Supervisory Board falls vacant for any reason, such seat will be filled in accordance with the terms and conditions set out in article L. 225-34 of the French Commercial Code. As an exception to the rule in article 12.4 above, the employee representative members of the Supervisory Board are not required to hold a minimum number of the Company’s shares.

Composition of the Supervisory Board. 1. The Company has a Supervisory Board comprising a maximum of ten members twelve members, selected exclusively among shareholders who are neither General nor Managing Partners, as well as one or two members representing employees, appointed in accordance with the terms and conditions set out in article 12.6 below. 2. The members of the Supervisory Board are appointed or dismissed by the shareholders in an Ordinary General Meeting. Shareholders who are also General Partners are not entitled to vote on the corresponding resolutions. 3. The term of office of members of the Supervisory Board may not exceed four years. It terminates at the close of the Annual General Meeting called to approve the financial statements for the preceding year and held during the year in which the term of the member expires. Members of the Supervisory Board may be re-appointed. No more than a third of the members of the Supervisory Board in office may be over seventy-five years old. If this proportion is exceeded, the oldest member is automatically deemed to have resigned. 4. Members of the Supervisory Board must each own at least one hundred and fifty shares of the Company and have three months from the date of their appointment in which to acquire such shares, if not already in their possession at the time of their appointment. Any member who ceases to own the required number of shares during their term of office will automatically be deemed to have resigned if this situation is not remedied within three months. 5. In the event of a vacancy following death, resignation or for any other reason, the Board may, with prior consent from the Managing Partners, appoint one or more replacement members on a provisional basis. The Board must make the appointment within fifteen days following the vacancy if the number of its members falls below three. Provisional appointments are confirmed at the next General Meeting of shareholders. The replacement member’s term of office is for the period remaining until the end of the predecessor's term of office. If a provisional appointment is not confirmed at the General Meeting, the Supervisory Board's decisions nonetheless remain valid. 6. When the provisions of article L. 225-79-2 of the French Commercial Code apply to the Company, the Supervisory Board also includes one or two members representing Group employees. The Supervisory Board will have two employee representative members when the number of the other Board members as referred to in article 12.1 above exceeds eight, and one employee representative member when the number of the other Board members as referred to in article 12.1 above is equal to or less than eight. Employee representative members of the Supervisory Board are appointed for four-year terms. If the number of the other Supervisory Board members as referred to in article 12.1 above falls to eight or less, the terms of office of the sitting employee representative members will not be affected and will remain in force until their scheduled expiry date. The employee representative member(s) of the Supervisory Board are appointed by the Group Employees’ Committee. If the seat of an employee representative member of the Supervisory Board falls vacant for any reason, such seat will be filled in accordance with the terms and conditions set out in article L. 225-34 of the French Commercial Code. As an exception to the rule in article 12.4 above, the employee representative members of the Supervisory Board are not required to hold a minimum number of the Company’s shares.