Common use of ELIGIBILITY AND CONDITIONS OF PARTICIPATION Clause in Contracts

ELIGIBILITY AND CONDITIONS OF PARTICIPATION. 5.1 Those eligible to be granted Options under the Plan are Employees, Directors and Consultants. 5.2 The Board of Directors shall, at its absolute discretion, select from Employees, Directors and Consultants those eligible to be granted Options, the Options Grant, the Strike Price, the Grant Date, the Exercise Date and any other conditions and/or constraints related to the Options. 5.3 When exercising its discretionary power, the Board of Directors shall follow market practice and Options shall be granted to the Participant free of charge, all individual taxes, such as income taxes, and the Participant’s part, if any, of any social security contributions, shall be borne by the Participant. 5.4 Neither the establishment of the Plan, nor the granting of Options, nor the payment of any benefits, nor any action of the Company or of the Board of Directors shall be held or construed to confer upon any Employee, Director or Consultants any legal right to further receive Options. Participation to the Plan in any given year gives no right to participate in any subsequent year.

ELIGIBILITY AND CONDITIONS OF PARTICIPATION. 5.1 Those eligible to 5.1. Only Eligible Individuals identified and approved by the Board may be granted Options under the Plan are Employees, Directors and ConsultantsPlan. 5.2 5.2. The Board of Directors shall, at its absolute discretion, select from Employees, Directors and Consultants Eligible Individuals those eligible to be granted Options, and determine the Options Grant, the class of Shares into which the Options are exercisable (i.e., Class F Shares or otherwise), the Strike Price, the Grant Date, the Exercise Date and any other conditions and/or constraints related to the Options. 5.3 When exercising its discretionary power, the Board of Directors shall follow market practice and 5.3. Options shall be granted to the Participant Participants free of charge. However, all individual taxes, such as income taxes, and the Participant’s part, if any, of any social security contributions, which arise in respect of the Option, including its grant, exercise, assignment, or the receipt of any benefit in connection with it, shall be borne by the Participant. 5.4 5.4. Neither the establishment of the Plan, nor the granting of Options, nor the payment of any benefits, Options nor any action of the Company or of the Board of Directors shall be held or construed to confer upon any Employee, Director or Consultants Eligible Individual any legal right to receive or further receive Options. Participation to in the Plan in any given year gives no right to participate in any subsequent year.