<SEC-DOCUMENT>0001193125-19-312769.txt : 20191212
<SEC-HEADER>0001193125-19-312769.hdr.sgml : 20191212
<ACCEPTANCE-DATETIME>20191212162532
ACCESSION NUMBER:		0001193125-19-312769
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20191212
FILED AS OF DATE:		20191212
DATE AS OF CHANGE:		20191212

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Constellium SE
		CENTRAL INDEX KEY:			0001563411
		STANDARD INDUSTRIAL CLASSIFICATION:	SECONDARY SMELTING & REFINING OF NONFERROUS METALS [3341]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35931
		FILM NUMBER:		191282089

	BUSINESS ADDRESS:	
		STREET 1:		TUPOLEVLAAN 41-61
		CITY:			SCHIPHOL-RIJK
		STATE:			P7
		ZIP:			1119NW
		BUSINESS PHONE:		31-20-654-97-80

	MAIL ADDRESS:	
		STREET 1:		TUPOLEVLAAN 41-61
		CITY:			SCHIPHOL-RIJK
		STATE:			P7
		ZIP:			1119NW

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Constellium N.V.
		DATE OF NAME CHANGE:	20130521

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Constellium Holdco B.V.
		DATE OF NAME CHANGE:	20121130
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d834117d6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML><HEAD>
<TITLE>6-K</TITLE>
</HEAD>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">6-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>REPORT OF
FOREIGN PRIVATE ISSUER </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT TO RULE <FONT STYLE="white-space:nowrap">13a-16</FONT> OR
<FONT STYLE="white-space:nowrap">15d-16</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>For the month of December 2019 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Commission File Number: <FONT STYLE="white-space:nowrap">001-35931</FONT> </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Constellium SE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Translation of registrant&#146;s name into English) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington
Plaza</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap">40-44,</FONT> rue Washington</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>75008 Paris, France </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive office) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether
the registrant files or will file annual reports under cover of Form <FONT STYLE="white-space:nowrap">20-F</FONT> or Form <FONT STYLE="white-space:nowrap">40-F:</FONT> <FONT STYLE="white-space:nowrap">Form&nbsp;20-F&nbsp;&nbsp;&#9745;</FONT> Form <FONT
STYLE="white-space:nowrap">40-F&nbsp;&nbsp;&#9744;</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form
<FONT STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(1): Yes&nbsp;&nbsp;&#9744; No&nbsp;&nbsp;&#9745; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form <FONT STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT
STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(7): Yes&nbsp;&nbsp;&#9744; No&nbsp;&nbsp;&#9745; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
</DIV></Center>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION CONTAINED IN THIS FORM <FONT STYLE="white-space:nowrap">6-K</FONT> REPORT
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As previously disclosed, effective on June&nbsp;28, 2019, Constellium SE (formerly known as Constellium N.V.) (the
&#147;Company&#148;) completed its conversion (the &#147;Conversion&#148;) from a Dutch public limited liability company (<I>Naamloze Vennootschap</I>) to a European company (<I>Societas Europaea</I>). On December&nbsp;12, 2019, the Company
completed the transfer of its corporate seat/registered office and headquarters from Amsterdam, the Netherlands to Paris, France (the &#147;Transfer&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In accordance with European Council Regulation No.&nbsp;2157/2001 and Sections 3, 4 and 5 of the Dutch Implementation Act (<I>Uitvoeringswet
verordening Europese vennootschap</I>), the Transfer required approval by the Company&#146;s shareholders, which approval was obtained at the extraordinary general meeting of the Company&#146;s shareholders on November&nbsp;25, 2019. The Transfer
further required amendment to the Company&#146;s Articles of Association by means of a deed of amendment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of the effectiveness of the
Transfer, each outstanding Class&nbsp;A ordinary share of Constellium SE with its corporate seat/registered office and headquarters in Amsterdam, the Netherlands automatically became an ordinary share of Constellium SE with its corporate
seat/registered office and headquarters in Paris, France.&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s ordinary shares continue to be listed on the New York Stock Exchange under the symbol &#147;CSTM&#148; and are expected to trade under Constellium SE
as a French company, as of December 13, 2019. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Exhibit Index </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="94%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>3.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Articles of Association of Constellium SE, effective as of December 12, 2019</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Amendment No.&nbsp;3 to the Constellium N.V. 2013 Equity Incentive Plan, effective as of December 12, 2019</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>The information contained in this Form <FONT STYLE="white-space:nowrap">6-K</FONT> is incorporated by
reference into any offering circular or </I></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>registration statement (or into any prospectus that forms a part thereof) filed by
Constellium SE with the </I></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Securities and Exchange Commission. </I></B></P>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


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<TD WIDTH="4%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="46%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM SE</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">(Registrant)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:4.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">December 12, 2019</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Peter R. Matt</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name:&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Peter R. Matt</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Chief Financial Officer</TD></TR>
</TABLE>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>d834117dex31.htm
<DESCRIPTION>EX-3.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-3.1</TITLE>
</HEAD>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 3.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONSTELLIUM SE </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A European
company with share capital of 2,757,348.36 euros </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Registered Office: Washington Plaza, <FONT STYLE="white-space:nowrap">40-44</FONT> rue
Washington, 75008 Paris </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Paris Trade and Companies Register n&deg; 831&nbsp;763 743 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLES OF ASSOCIATION </P>
</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>TITLE I </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>FORM, NAME, OBJECT, REGISTERED OFFICE, AND DURATION OF THE COMPANY </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 1 &#150; FORM </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company shall be a
European company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Created on May&nbsp;14, 2010 in the form of a &#147;<I>besloten vennootschap met beperkte aansprakelijkheid</I>&#148; (B.V.) and
transformed into &#147;<I> naamloze vennootschap</I> &#147; (N.V.) on May&nbsp;21, 2013, it continues to exist among the owners of the shares composing its capital, after transformation into a European company pursuant to a general meeting dated
June&nbsp;27, 2019 and then transfer of its registered office to France pursuant to a general meeting dated November&nbsp;25, 2019. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">It is governed by all
applicable laws and regulations, as well as these Articles of Association. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 2 &#150; COMPANY NAME </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company name is: </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CONSTELLIUM SE </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In all deeds and documents issued by the company and intended for third parties, the name shall always be immediately preceded or followed by the words:
&#147;soci&eacute;t&eacute; europ&eacute;enne&#148; or the initials &#147;SE&#148; and the amount of share capital. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 3 &#150; COMPANY OBJECT
</U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The object of the company, directly or indirectly, in any form, in France and in all countries, is: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">to incorporate, to participate in, to finance, to collaborate with, to manage, to supervise businesses, companies
and other enterprises and provide advice and other services; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">to acquire, use and/or assign industrial and intellectual property rights and real property;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">to finance and/or acquire companies and any businesses; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">to borrow, to lend and to raise funds, including through the issue of bonds, debt instruments or other securities
or evidence of indebtedness as well as to enter into agreements in connection with the aforementioned activities; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">to invest funds; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">to provide guarantees and security for debts of legal persons or of other companies with which the Company is
affiliated in a Group or for the debts of third parties; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">to undertake all that which is connected to the foregoing or in furtherance thereof, all of the above being
understood in the broadest sense of the words. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 4 &#150; REGISTERED OFFICE </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company&#146;s registered office and central administration are located at: Washington Plaza, <FONT STYLE="white-space:nowrap">40-44</FONT> rue Washington,
75008 Paris, France. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The registered office may be transferred to any other location within the French territory, either by decision of the ordinary
general meeting or by decision of the Board of Directors, subject to such decision being ratified by the next ordinary general meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If a transfer is
approved by the Board of Directors, the latter is authorised to amend the Articles of Association and to carry out the resulting publicity and filing formalities, provided the transfer is submitted for the ratification mentioned hereinabove. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors may establish offices, agencies, or branches wherever it deems useful, and may also remove them. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 5 &#150; DURATION </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company has a
duration of ninety-nine (99)&nbsp;years as from its registration with the Paris Trade and Companies Register, except in cases of early dissolution or extension as approved by the extraordinary general meeting. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>TITLE II </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>CAPITAL AND SHARES </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 6
&#150; CAPITAL </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The capital amounts to two million, seven hundred and fifty-seven thousand, three hundred forty-eight euros and <FONT
STYLE="white-space:nowrap">thirty-six</FONT> cents (2,757,348.36), as from November&nbsp;25, 2019. It shall be divided into one hundred and thirty-seven million, eight hundred and sixty-seven thousand, four hundred and eighteen (137,867,418)
ordinary shares, each with a nominal value of two euro cents (0.02), fully <FONT STYLE="white-space:nowrap">paid-up</FONT> and all of the same category. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 7 &#150; FORM OF SHARES, SHAREHOLDING PROCEDURES </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shares shall be either registered (&#147;<I>au nominatif</I>&#148;) or bearer (&#147;<I>au porteur</I>&#148;) shares, at the shareholder&#146;s discretion, in
accordance with Article L. <FONT STYLE="white-space:nowrap">228-1</FONT> of the French Commercial Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shares of the Company will be registered either
on a register (the &#147;<B>U.S. Register</B>&#148;) maintained in the United States of America by a registrar , or on accounts maintained by the Company (or its agent) or by authorized intermediaries in accordance with Article L. <FONT
STYLE="white-space:nowrap">211-3</FONT> of the French Monetary and Financial code (such accounts being collectively referred to as the &#147;<B>French Register</B>&#148;), at the shareholder&#146;s discretion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shares registered on the U.S. Register will either be in the name of Cede&nbsp;&amp; co, acting on behalf of The Depository Trust Company
(&#147;<B>DTC</B>&#148;), or in the name of holders who want to be directly recorded on the U.S. Register. The shares must be held through a participant in the system managed by DTC and registered on the U.S. Register in the name of Cede&nbsp;&amp;
co to be eligible for direct trading on the New York Stock Exchange. Shares registered on the U.S. Register will be in &#147;<I>au porteur</I>&#148; form; they shall be registered in France in the name of a single intermediary in the form of a
collective account for the account of all owners of these shares, in accordance with Article L. <FONT STYLE="white-space:nowrap">228-1,</FONT> 7<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> subparagraph of the French Commercial Code. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shares registered on the French Register may be in &#147;<I>au nominatif</I>&#148; form or in &#147;<I>au
porteur</I>&#148; form, at the shareholder&#146;s discretion, it being specified that these shares may not be traded in this form on the NYSE. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On the
effective date of the transfer of the registered office in France, all shares comprising the company&#146;s capital shall be entered in the U.S. Register. Any shareholder seeking to transfer its shares from one register to another will have to give
proper instructions, at its own cost, to its broker or the Company, as the case may be. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 8 &#150; TRANSFERS </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any transfer of shares shall be made pursuant to law and to these Articles of Association. Shares shall be transmitted by transfer between accounts, according
to the procedures defined by the laws and regulations in force. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shares shall be freely transferable. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 9 &#150; THRESHOLD CROSSING </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any natural
person or legal entity acting alone or in concert, who comes to own, directly or indirectly, a number of shares equal to or greater than 5%, 10%, 15%, 20%, 25%, 30%, 33 1/3%, 50%, 66 2/3% or 90% of the total number of shares or voting rights must,
within five (5)&nbsp;trading days after the shareholding threshold is crossed, notify the company, by certified letter with acknowledgement of receipt, of the total number of shares or voting rights that it owns alone, directly or indirectly, or in
concert. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Moreover, it shall also inform the company, in its threshold notification letter, (i)&nbsp;of the number of securities held giving deferred
rights to the shares to be issued and the corresponding voting rights, and (ii)&nbsp;of the number of shares already issued or the voting rights it may acquire by virtue of agreements or financial instruments mentioned in Article L. <FONT
STYLE="white-space:nowrap">211-1</FONT> of the French Monetary and Financial Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The same obligations apply if the participation in capital or voting
rights falls below one of the thresholds stipulated hereinabove. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Moreover, any person or entity who holds a number of shares equal to or greater than
10%, 15%, 20% or 25% of the total number of shares or voting rights in the company shall, within five (5)&nbsp;trading days after the shareholding threshold is crossed, inform the company of the objectives it intends to pursue over the six
(6)&nbsp;months to come. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Following a period of six (6)&nbsp;months, any person or entity who continues to hold a number of shares or voting rights equal
to or greater than the fractions mentioned hereinabove, shall renew its statement of intent, in compliance with the aforementioned terms, for each new period of six (6)&nbsp;months. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This statement shall specify whether the person or entity is acting alone or in concert, if it plans to discontinue or continue its purchases, to acquire or
not the control of the company, to request its appointment or that of one or several persons as director. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company reserves the right to share with
the public and shareholders either the objectives that it has been notified of, or the relevant person&#146;s failure to comply with the aforementioned obligation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the application of the preceding subparagraphs, the shares or voting rights listed in paragraphs 1 to 8
of Article L. <FONT STYLE="white-space:nowrap">233-9</FONT> I of the French Commercial Code shall be considered equivalent to the shares or voting rights held by a person or an entity. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Neither Cede&nbsp;&amp; Co, acting on behalf of DTC, DTC, nor the intermediary acting as &#147;<I>interm&eacute;diaire inscrit</I>&#148; per subparagraph
seven of Article L. <FONT STYLE="white-space:nowrap">228-1</FONT> of the French Commercial Code are required to make the statements covered in this article, for all of the shares for which Cede&nbsp;&amp; Co, DTC and such intermediary, respectively,
are registered in such capacity in the books. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 10 &#150; MANDATORY PUBLIC OFFER </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any natural or legal persons acting alone or in concert within the meaning of Article L. <FONT STYLE="white-space:nowrap">233-10</FONT> of the French
Commercial Code, who comes into possession, otherwise than following a voluntary takeover bid, directly or indirectly, of more than 30% of the equity securities or voting rights of the company, shall file a draft takeover bid on all the capital and
securities granting access to the capital or voting rights, and on terms that comply with applicable U.S. Securities law, rules of the U.S. Securities and Exchange Commission (SEC) and NYSE rules. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The same requirement applies to natural or legal persons, acting alone or in concert, who directly or indirectly own a number between 30% and half the total
number of equity securities or voting rights of the company and who, in less than twelve consecutive months, increase the holding, in capital or voting rights, of at least 1% of the securities or voting rights of the company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">When a draft offer is submitted, the price proposed must be at least equal to the highest price paid by the offeror, acting alone or in concert within the
meaning of Article L. <FONT STYLE="white-space:nowrap">233-10</FONT> of the French Commercial Code, over a period of twelve (12)&nbsp;months preceding the event giving rise to the obligation to submit the draft offer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the event of a clear change in the characteristics of the company, if the market for its securities so justifies or in the absence of a transaction by the
offeror, acting alone or in concert, over the company&#146;s shares during the twelve-month period mentioned in the first paragraph, the price will be fixed by an expert appointed in accordance with Article 1592 of the French Civil Code and
determined according to the objective evaluation criteria usually used, the characteristics of the company and the market of its securities, it being specified that the expert will be required to take into account, in its assessment, the criteria
identified by the French <I>Commission des Op&eacute;rations de Bourse</I>, the French <I>Autorit&eacute; des March&eacute;s Financiers</I> (&#147;<B>AMF</B>&#148;) and the French courts. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The obligation to file a draft public offer does not apply if the person or persons concerned justify to the company the fulfilment of one of the conditions
listed in Articles <FONT STYLE="white-space:nowrap">234-7</FONT> and <FONT STYLE="white-space:nowrap">234-9</FONT> of the AMF&#146;s <I>R&egrave;glement G&eacute;n&eacute;ral</I>. In the event of disagreement between the parties, an expert will be
appointed, at the request of the most diligent party, by the president of the commercial court, ruling in the form of interim relief, for the purpose of determining whether or not it is necessary to file a draft public offer, it being specified that
the expert will be required to apply the relevant provisions of the AMF&#146;s <I>R&egrave;glement G&eacute;n&eacute;ral</I> as well as the criteria issued by the French <I>Conseil des march&eacute;s financiers</I>, the AMF and the French courts.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Neither Cede&nbsp;&amp; Co, acting on behalf of DTC, DTC, nor the intermediary acting as
&#147;<I>interm&eacute;diaire inscrit</I>&#148; per subparagraph 7 of Article L. <FONT STYLE="white-space:nowrap">228-1</FONT> of the French Commercial Code are subject to the requirements covered in this article, for all of the shares for which
Cede&nbsp;&amp; Co, DTC and such intermediary, respectively, are registered in such capacity in the books. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 11 &#150; RIGHTS AND OBLIGATIONS
ATTACHED TO THE SHARES </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The rights and obligations attached to the share follow the share, in any hand it passes, and the transfer includes all
dividends accrued, unpaid, and accruing, and, as applicable, the share of reserves and provisions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Share ownership entails, <I>ipso facto</I>, the
holder&#146;s approval of these Articles of Association as well as of the decisions of the general meetings. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The voting right attached to the
company&#146;s shares shall be proportional to the percentage of the capital they represent, and each of the company&#146;s shares shall carry one vote. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each share entitles the holder, in the ownership of the company assets, profit-sharing, and liquidation surplus, to a percentage proportional to the number of
existing shares, taking into account, as the case may be, the amortised and <FONT STYLE="white-space:nowrap">non-amortised</FONT> capital, <FONT STYLE="white-space:nowrap">paid-up</FONT> or unpaid capital, the nominal amount of the shares and the
rights of the different categories of shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Whenever it is necessary to own more than one share to exercise any right, the single shares or shares in
fewer numbers than required shall confer no rights on their holders against the company, and in such cases the shareholders shall be personally responsible for pooling the required number of shares. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>TITLE III </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>COMPANY ADMINISTRATION </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 12 &#150; BOARD OF DIRECTORS </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1.
Composition </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company shall be directed by a Board composed of natural or legal persons between three and eighteen in number, appointed by the
general meeting. In the event of a merger, this number may be increased under the conditions provided by law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any legal person shall, upon its
appointment, assign a natural person as permanent representative to the Board of Directors. The permanent representative&#146;s term of office shall be the same as that of the legal person he or she is representing. If the legal person removes its
permanent representative, it shall immediately provide a replacement. The same provisions apply in the event of the permanent representative&#146;s death or resignation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The general meeting may decide that the Board of Directors shall be renewed annually on a rotating basis, such that this rotation involves a given fraction of
the number of directors. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The directors&#146; term of office is three (3)&nbsp;years renewable.<B><I> </I></B>By way of exception,
(a)&nbsp;the general meeting may choose a director for a shorter term so that the renewal of the directors&#146; terms of office may be spread out over time, (b)&nbsp;the directors in office immediately before the day of registration of the Company
in the <I>registre du commerce et des soci&eacute;t&eacute;s</I> of Paris shall remain in office thereafter, for a duration equal to their remaining term of office before such registration. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A director&#146;s term of office ends at the close of the ordinary general meeting called to approve the financial statements for the past financial year and
held in the year during which the term of office of said director expires. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Directors may be reappointed at any time. They may be removed at any time by a
decision of the general meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the event of a vacancy through the death or resignation of one or more directorships, the Board of Directors may make
temporary appointments between two general meetings. The director appointed to replace another director whose term of office has not expired remains in office only for as long as the remaining term of his or her predecessor&#146;s office. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A company employee may be appointed as a director. His or her employment contract must correspond to an actual position. In such cases he or she does not lose
the benefit of his or her contract of employment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The number of directors bound to the company by a contract of employment may not exceed <FONT
STYLE="white-space:nowrap">one-third</FONT> (1/3) of the directors in office. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The number of directors who are more than seventy-five (75)&nbsp;years of
age shall not exceed <FONT STYLE="white-space:nowrap">one-third</FONT> (1/3) of the directors in office. If this limit is exceeded during the terms of office, the oldest director shall automatically be considered to have resigned at the close of the
next general meeting. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2. Chair &#150; Bureau of the Board of Directors </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors elects a Chairman from among its members who must be a natural person. The Board of Directors sets his or her term office, which cannot
exceed that of his or her directorship, and may remove him or her at any time. The Board sets his or her compensation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Chairman organises and directs
the tasks of the Board, which he or she then reports to the general meeting. He or she oversees the proper functioning of the various bodies of the company and, in particular, ensures that the directors are able to fulfil their mission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board Chairman may not be more than seventy-five (75)&nbsp;years of age. If the Chairman reaches that age during his or her term, he or she shall
automatically be considered to have resigned. However, his or her term of office shall be extended until the next meeting of the Board of Directors during which his or her successor shall be appointed. Subject to this provision, the Board Chairman
may be <FONT STYLE="white-space:nowrap">re-elected</FONT> at any time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Moreover, the Board, if it sees fit, appoints a vice-chairman from among its
members, whose term of office it sets within the limit of that of his or her directorship.<B><I> </I></B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board appoints a secretary, who may be
chosen from outside the directors and shareholders. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 13 &#150; MEETING OF THE BOARD OF DIRECTORS </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors meets as often as required by the company&#146;s interests, at the registered office or at the location indicated in the convening
notice, and at least every three (3)&nbsp;months<I>.</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Directors shall be convened to Board meetings by the Chairman. Convocation may be made through
any written means. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Chairman must convene the Board of Directors within seven (7)&nbsp;days following a reasoned request made in this sense by the
Chief Executive Officer, if the offices of Chairman and Chief Executive Officer are separate, or at least <FONT STYLE="white-space:nowrap">one-third</FONT> (1/3) of the members of the Board of Directors. If this request goes unanswered, the
requesters may themselves convene the meeting, stating the agenda. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Moreover, the directors representing at least
<FONT STYLE="white-space:nowrap">one-third</FONT> (1/3) of the Board members may validly convene the meeting if the Board of Directors has not met for more than two (2)&nbsp;months. In this case, they must state the meeting&#146;s agenda. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board meets either at the company&#146;s registered office or in any other location in France or outside France. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">An attendance record shall be kept, and the minutes drawn up after each meeting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Meetings of the Board of Directors shall be chaired by the Board Chairman. In the event of the Chairman&#146;s absence or prevention, the Board of Directors
shall entrust the Chairman&#146;s duties to the vice-chairman. In the event of the absence or prevention of these latter, the Board shall appoint one of its members to chair each meeting; if there is a tied vote for this appointment, the meeting
shall be chaired by the eldest candidate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the Board&#146;s deliberations to be valid, more than half of the Board members must be present or
represented. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors&#146; decisions shall be taken by a majority vote; if the votes are tied, the Chairman&#146;s vote shall be decisive.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Decisions that are within the competence of the Board of Directors may also be taken by written consultation of the directors under the conditions and
within the limits set down by French Law. These decisions currently include those provided for by the French Commercial Code in Article L. <FONT STYLE="white-space:nowrap">225-24</FONT> <FONT STYLE="white-space:nowrap">(co-optation</FONT> of
directors), the last paragraph of Article L. <FONT STYLE="white-space:nowrap">225-35</FONT> (authorization of security interests, endorsements and guarantees), the second paragraph of Article L. <FONT STYLE="white-space:nowrap">225-36</FONT>
(amendment of the articles of association to comply with legal and regulatory provisions) and I of Article L. <FONT STYLE="white-space:nowrap">225-103</FONT> (convening of shareholders&#146; meetings) and the decisions to transfer the registered
office within the same department. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition to the relevant provisions of these Articles of Association, the Board of Directors may adopt rules of
procedure in order to organize its decision-making process and working method, including the rules in case of a conflict of interest. These rules of procedure may stipulate, specifically, that the directors attending the Board meeting via
videoconference and telecommunications methods shall be considered to be in attendance, in accordance with regulations in force. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each director receives the information required to perform his or her duties and, by virtue of his or her
office, may obtain any and all documentation he or she deems useful. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any director may assign the power, even by letter, fax, or electronic mail, to
another director to represent him or her in a Board meeting, but each director may only have one proxy during a meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Copies or extracts of the
deliberations of the Board of Directors shall be validly certified by the Chairman of the Board of Directors, the Chief Executive Officer, the Deputy Chief Executive Officers, the director temporarily delegated to the duties of the chairman, or a
proxy authorised for that purpose. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 14 &#150; POWERS AND DUTIES OF THE BOARD OF DIRECTORS </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors sets the guidelines for the company&#146;s activity and oversees their implementation, in accordance with its corporate interest, taking
into consideration the social and environmental impact of its activity. Subject to the powers expressly assigned by law to the shareholders&#146; meetings and within the limit of the corporate purpose, it hears any issue relevant to the
company&#146;s smooth operation and, by means of its deliberations, settles the matters of concern to it. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In its relations with third parties, the
company shall be bound even by the decisions of the Board of Directors that do not come under the corporate purpose, unless the company can prove that the third party knew that the decision exceeded that purpose or that it could not have been
unaware of this in light of the circumstances; publication of the Articles of Association alone does not constitute sufficient proof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of
Directors proceeds with the controls and checks that it deems advisable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Moreover, the Board of Directors exercises the special powers conferred on it by
law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors may appoint, from within, one or more special committees, of which it sets the composition and powers and which carry out
their activity under its responsibility. Each committee shall report on its missions at the next meeting of the Board of Directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Directors, <FONT
STYLE="white-space:nowrap">non-voting</FONT> members, and any other person called to attend meetings of the Board of Directors are bound not to disclose, as applicable, even after the end of their duties, the information they have on the company and
the disclosure of which could compromise the company&#146;s interests, except for cases in which such disclosure is required or allowed by law or in the public interest. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 15 &#150; GENERAL MANAGEMENT </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
company&#146;s executive management shall be assumed by a natural person appointed by the Board of Directors and given the title of Chief Executive Officer (<I>directeur g&eacute;n&eacute;ral</I>). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the company&#146;s executive management is assumed by the Chairman (<I>pr&eacute;sident</I>), the laws, regulations, and statutes pertaining to the Chief
Executive Officer shall be applicable to him or her. He or she shall take the title of Chairman and Chief Executive Officer (<I>pr&eacute;sident-directeur g&eacute;n&eacute;ral</I>). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Chief Executive Officer shall be vested with the broadest powers to act in all circumstances in the
company&#146;s name. He or she shall exercise his or her powers within the scope of the corporate purpose and subject to those that the law expressly assigns to shareholders&#146; meetings and the Board of Directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">He or she shall represent the company in its relations with third parties. The company shall be bound even by the actions of the Chief Executive Officer that
do not belong to the corporate purpose, unless it can prove that the third party knew that the decision exceeded that purpose or that it could not have been unaware of this in light of the circumstances; publication of the Articles of Association
alone does not constitute sufficient proof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Chief Executive Officer shall not be more than seventy (70)&nbsp;years of age. If the Chief Executive
Officer reaches that age limit, he or she shall be considered to have resigned. However, his or her term of office shall be extended until the next meeting of the Board of Directors during which the new Chief Executive Officer is appointed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors may remove the Chief Executive Officer at any time. If the removal is approved without due cause, it may give rise to damages, unless
the Chief Executive Officer is taking office as the Chairman of the Board of Directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">By a simple resolution passed by a majority vote of the directors
present or represented, the Board of Directors shall choose whether the general management of the company is to be assumed by the Chairman of the Board or by another natural person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shareholders and third parties shall be informed of this choice in accordance with the laws and regulations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors&#146; choice thus made shall remain in force until an opposing decision by the Board or, at the Board&#146;s discretion, throughout the
Chief Executive Officer&#146;s term of office. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the company&#146;s general management is assumed by the Chairman of the Board of Directors, the
provisions applicable to the Chief Executive Officer shall be applicable to him or her. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On a proposal by the Chief Executive Officer, the Board of
Directors may appoint one or more natural persons to assist the Chief Executive Officer as Deputy Chief Executive Officer (<I>directeur g&eacute;n&eacute;ral d&eacute;l&eacute;gu&eacute;</I>). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In agreement with the Chief Executive Officer, the Board of Directors shall set the scope and duration of the powers conferred on the Deputy Chief Executive
Officers. The Board of Directors shall set their compensation. If a Deputy Chief Executive Officer is a director, his or her duties cannot outlast his or her directorship. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With regard to third parties, Deputy Chief Executive Officers have the same powers as the Chief Executive Officer; Deputy Chief Executive Officers have the
power to litigate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The number of Deputy Chief Executive Officers may not exceed five. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Deputy Chief Executive Officer(s) shall be removable at any time by the Board of Directors, as proposed by the Chief Executive Officer. If the removal is
approved without due cause, it may give rise to damages. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A Deputy Chief Executive Officer may not be more than seventy (70)&nbsp;years of age. If a Deputy Chief
Executive Officer in office reaches that age limit, he or she shall automatically be considered to have resigned. However, his or her term of office shall be extended until the next meeting of the Board of Directors during which a new Deputy Chief
Executive Officer could potentially be appointed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the Chief Executive Officer ceases to perform or is prevented from performing his or her duties, the
Deputy Chief Executive Officer(s) shall retain all duties and powers until the appointment of the new Chief Executive Officer, unless decided otherwise by the Board of Directors. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 16 &#150; <FONT STYLE="white-space:nowrap">NON-VOTING</FONT> MEMBERS </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors may appoint one or more <FONT STYLE="white-space:nowrap">non-voting</FONT> members (<I>censeurs</I>) from among the shareholders,
natural or legal persons, or elsewhere, but they shall not be more than two (2)&nbsp;in number. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The <FONT STYLE="white-space:nowrap">non-voting</FONT>
members&#146; term of office shall be set by the Board of Directors, not to exceed three (3)&nbsp;years. The duties of a <FONT STYLE="white-space:nowrap">non-voting</FONT> member shall end at the close of the ordinary general meeting called to
approve the financial statements for the past year and held in the year during which the term of office of said <FONT STYLE="white-space:nowrap">non-voting</FONT> member expires. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Non-voting</FONT> members may be <FONT STYLE="white-space:nowrap">re-elected</FONT> at any time. The Board of Directors may
put an end to their term of office at any time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the event of the death, resignation, or severance of a
<FONT STYLE="white-space:nowrap">non-voting</FONT> member for any other reason, the Board of Directors may replace him or her for the remainder of his or her term of office. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Non-voting</FONT> members shall be called upon to attend meetings of the Board of Directors as observers and may be consulted
by the latter or by the Chairman and take part in the deliberations with a consultative voice only; however their absence cannot affect the validity of the deliberations. They shall be convened to Board meetings under the same conditions as
directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Non-voting</FONT> members shall not be remunerated for their duties. However, the Board of Directors may
authorise the reimbursement of the expenses that the <FONT STYLE="white-space:nowrap">non-voting</FONT> members incur in the company&#146;s interest. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 17 &#150; INDEMNIFICATION OF DIRECTORS </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The members and former members of the Board of Directors shall be reimbursed for: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">reasonable cost of conducting a defense against claims, including claims by the company (other than such claims
for which such members or former members of the Board have been declared responsible for by a final court decision), based on acts or failures to act in the exercise of their duties or any other duties currently or previously performed by them at
the company&#146;s request; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any damages payable by them as a result of an act or failure to act in the exercise of their duties or any
other duties currently or previously performed by them at the company&#146;s request. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">There shall be no entitlement to indemnity: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">if and to the extent the laws of France would not permit such indemnification; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">if and to the extent a competent court has established in a final and conclusive decision that the act or
failure to act of the current or former member of the Board may be characterized as willful (<I>faute intentionnelle</I>), intentionally reckless (<I>faute lourde</I>) or falling outside the exercise of its duties (<I>faute d&eacute;tachable</I>);
or </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">if and to the extent the costs, damages or fines payable by the current or former member of the Board are
covered by any liability insurance and the insurer has paid out the costs, damages or fines. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Except if the claim is instituted by the
company itself, the relevant current or former member of the Board of Directors shall follow the company&#146;s instructions relating to the manner of his or her defense and consult with the company in advance about the manner of such defense. The
person concerned shall not: (i)&nbsp;acknowledge any personal liability, (ii)&nbsp;waive any defense, or (iii)&nbsp;agree on a settlement, without the company&#146;s prior written consent. The company may take out liability insurance for the benefit
of current or former members of the Board. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 18 &#150; RELATED-PARTY AGREEMENTS </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to subparagraph 6 of Article L. <FONT STYLE="white-space:nowrap">229-7</FONT> of the French Commercial Code, Articles
<FONT STYLE="white-space:nowrap">L.&nbsp;225-38</FONT> to L. <FONT STYLE="white-space:nowrap">225-42</FONT> of the said Commercial Code are applicable to agreements entered into by the company. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>TITLE IV </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>STATUTORY AUDITORS </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE
19 &#150; STATUTORY AUDITORS </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company is audited, per the conditions set by law, by one or more statutory auditors meeting the legal conditions
of eligibility. When the legal conditions are met, the company shall appoint at least two statutory auditors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each statutory auditor shall be appointed
by the ordinary general meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the ordinary general meeting fails to elect a statutory auditor, any shareholder may petition the court to appoint
one, with the Chairman of the Board of Directors duly summoned. The term of office of the court-appointed statutory auditors shall end when the ordinary general shareholders&#146; meeting has duly appointed the statutory auditor(s). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>TITLE V </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>GENERAL MEETINGS </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 20
</U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1. Convocation </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">General meetings shall be
convened and held per the conditions and deadlines set forth by the laws and regulations. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Meetings shall be held at the registered office or at any other location specified in the convocation. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2. Entitlement </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The right to attend general meetings
shall be documented by the book entry of shares in the name of the shareholder or of the intermediary registered on his or her behalf in the company registers in accordance with the deadlines and conditions set forth by law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shareholders who do not attend the meeting in person may choose one of the following options: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">be represented by the intermediary registered on their behalf; or </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">assign a proxy to another shareholder, to their spouse, or to the partner with whom they have entered into a
civil union (<I>pacte civil de solidarit&eacute;</I>); or </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">vote by mail; or </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">send a proxy to the company without indicating an assignment, in accordance with the conditions set forth by the
laws and regulations in force. </P></TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3. Videoconference voting </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under the conditions set forth by applicable laws and regulations, the Board of Directors may arrange for shareholders to attend and vote by videoconference or
other means of telecommunications that allow for a person&#146;s identification. If the Board of Directors decides to exercise this option for a given meeting, the Board of Directors&#146; decision is recorded in the meeting notice and/or
convocation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shareholders attending meetings by videoconference or any of the other means of telecommunications mentioned hereinabove, at the Board of
Directors&#146; discretion, shall be considered present for the calculation of quorum and majority. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>4. Committee &#150; Attendance sheet &#150;
minutes </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Meetings shall be presided over by the Chairman of the Board of Directors or, in his or her absence, by the Chief Executive Officer, by a
Deputy Chief Executive Officer if he or she is a director, or by a director specially appointed for that purpose by the Board. Failing that, the meeting shall elect its own Chairman. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The committee shall include a Chairman and two scrutineers. The scrutineers&#146; duties shall be performed by the two members of the meeting who have the
highest number of votes, if they are present and accept these duties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The committee shall appoint a secretary, who need not be a shareholder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">At each meeting, an attendance sheet shall be kept, with the powers assigned to authorised agents appended to it as well as any absentee ballots, and minutes
shall be taken of the meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This attendance sheet may be regularised by the general meeting committee following the company&#146;s acceptance of the
information transmitted by the registrar of the U.S. Register on the disposals made, before the second (2<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP>) business day preceding the meeting at zero hour, Paris time, as applicable, by
shareholders who have already cast their vote before that date. Indeed, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>

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the company is obligated to invalidate or amend votes cast by shareholders who have thus disposed of their shares, pursuant to Articles R. <FONT STYLE="white-space:nowrap">225-85</FONT> and R. <FONT
STYLE="white-space:nowrap">225-86</FONT> of the French Commercial Code. Consequently, in view of the transmission deadlines for this information, the attendance sheet prepared at the general meeting shall be a draft document until it is regularised.
The outcome of voting on the resolutions shall be final after the information thus transmitted is taken into account. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Copies or extracts of the meeting
minutes shall be validly certified by the Chairman of the Board of Directors, by a director performing the duties of Chief Executive Officer, or by the meeting secretary. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5. Quorum and majority </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shareholders&#146; decisions
shall be made at the general meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Only the extraordinary general meeting shall be authorised to amend any or all provisions of the Articles of
Association. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The ordinary general meeting shall make all other decisions falling within the competence of a general meeting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Special meetings shall be attended by holders of a given category of shares, assuming that such is created, to decide on any amendment to the rights in
respect of shares of that category. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The ordinary general meeting held on the date set by the first convening notice validly deliberates where the
shareholders present, represented or having voted by correspondence hold at least <FONT STYLE="white-space:nowrap">one-fifth</FONT> (1/5) of the voting shares. If this quorum is not reached, a second meeting is convened with an agenda identical to
the first meeting; no quorum is required for such second meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The extraordinary general meeting held on the date set by the first convening notice
validly deliberates where the shareholders present, represented or having voted by correspondence hold at least a quarter (1/4) of the voting shares. If this quorum is not reached, a second meeting is convened with an agenda identical to the first
meeting. If the quorum at the second meeting is not reached, the second meeting can be postponed to a date no later than two months after the date on which the second meeting was convened. The quorum for such second or postponed meeting, as the case
may be, to be validly held is 1/5 of the voting shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Special meetings held on the date set by the first convening notice may validly deliberate where
the shareholders present, represented or having voted by correspondence hold at least one third (1/3), on first notice, and, failing which, 1/5 for the meeting held on the date set by the second convening notice or in the case of postponement of the
second meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The ordinary general meeting&#146;s decisions shall be made by a majority of votes validly cast. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Decisions of the extraordinary general meetings and special meetings shall be made by a <FONT STYLE="white-space:nowrap">two-thirds</FONT> (2/3) majority of
votes validly cast. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Votes cast shall not include those attached to shares for which the shareholder has not taken part in voting or has abstained or has
returned a blank or invalid vote. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>TITLE VI </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>COMPANY RESULTS </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 21
&#150; FINANCIAL YEAR </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each financial year shall last one calendar year, beginning on 1&nbsp;January and ending on 31 December. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 22 &#150; PROFITS - LEGAL RESERVE </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A
mandatory deduction of five percent (5%) of the profit for the financial year, minus any prior losses, shall be allocated to creating a reserve fund known as the &#147;legal reserve.&#148; This deduction shall cease to be mandatory once the amount
of the legal reserve reaches <FONT STYLE="white-space:nowrap">one-tenth</FONT> (1/10) of the capital. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Distributable profit shall comprise profit for the
financial year, minus any prior losses and the deduction stipulated in the preceding subparagraph, plus accumulated profit. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 23 &#150;
DIVIDENDS </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the financial statements for the year, as approved by the general meeting, show a distributable profit, the general meeting shall
decide to enter it in one or more reserve accounts of which it governs the allocation or use, to carry it forward, or to distribute it as dividends. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">After recording the existence of reserves available to it, the general meeting may decide to distribute funds deducted from those reserves. In this case, the
decision shall expressly indicate the reserve accounts from which these deductions are made. However, dividends shall first be deducted from the distributable profit for the financial year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The procedures for issuing payment of dividends shall be set by the general meeting or by the Board of Directors, as appropriate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Distributions payable in cash shall be approved in euro and paid (i)&nbsp;in euro for all holders of shares held on the French Register and (ii)&nbsp;in U.S.
dollars (USD) for all holders of shares entered in the U.S. Register. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the purposes of paying the dividend in dollars, the general meeting or, as
appropriate, the Board of Directors shall set the reference date to be applied for the EUR/USD conversion price. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dividend payment shall be issued no
later than nine (9)&nbsp;months after the close of the financial year. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The general meeting approving the financial statements for the year may grant each
shareholder, for some or all of the dividend being distributed, the choice of cash or shares in payment of the dividend. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Likewise, each shareholder may
be granted an interim distribution, and for some or all of said interim distribution, the choice of cash or shares in payment of the interim distribution. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The offer of payment in shares, the price, and the conditions for issuing the shares, as well as the request
for payment in shares and the conditions for the capital increase, shall be governed by the laws and regulations in force. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors may
decide to carry out interim distributions under the conditions set out by the laws and regulations in force. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>TITLE VII </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>DISSOLUTION &middot; LIQUIDATION </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 24 &#150; EARLY DISSOLUTION </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
extraordinary general meeting may decide on the company&#146;s early dissolution at any point in time. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 25 &#150; LOSS OF <FONT
STYLE="white-space:nowrap">ONE-HALF</FONT> OF CAPITAL </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If, due to losses recorded in the accounting documents, the shareholders&#146; equity falls
below <FONT STYLE="white-space:nowrap">one-half</FONT> of the registered capital, the Board of Directors shall, within four months from approval of the financial statements showing such a loss, convene the extraordinary general meeting for the
purpose of deciding whether the early dissolution of the company is justified. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the decision is not made to dissolve, the capital shall, no later than
the closure of the second financial year following the one during which the losses were recorded, and subject to the laws relating to the minimum capital of <I>soci&eacute;t&eacute;s anonymes</I>, be reduced by an amount equal to or greater than any
losses that could not be charged against the reserves, if, during that period, the equity capital has not been restored to a value equal to or greater than <FONT STYLE="white-space:nowrap">one-half</FONT> of the capital. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the general meeting is not held, or if that meeting fails to validly deliberate, any interested party may petition the court for the company&#146;s
dissolution. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 26 &#150; EFFECTS OF DISSOLUTION </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company shall be in liquidation from the moment it is dissolved for any reason whatsoever. Its legal personality shall persist for the purposes of this
liquidation until the closure thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Throughout the liquidation period, the general meeting shall retain the same powers as it had during the
company&#146;s existence. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shares shall remain tradeable until the closure of the liquidation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company&#146;s dissolution shall only have effect with respect to third parties from the date on which said dissolution is published in the trade and
corporate register. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 27 &#150; APPOINTMENT OF LIQUIDATORS &#150; POWERS </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">At the expiration of the company&#146;s duration or in the event of early dissolution, the general meeting shall govern the mode of liquidation and appoint one
or more liquidators, whose powers it shall set and who shall perform their duties in compliance with the law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The appointment of liquidators puts an end to the duties of the directors, the Chairman, the Chief Executive
Officer, and the Deputy Chief Executive Officers. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>TITLE VIII </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>NOTIFICATIONS </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 28
</U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All notifications provided under these Articles of Association shall be made by certified letter with acknowledgement of receipt or by
extrajudicial act. Simultaneously, a duplicate of the notification shall be sent to its recipient by regular mail. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>TITLE IX
</U></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>DISPUTES </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ARTICLE 29 </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any disputes that may arise during the
life of the company or its liquidation, either among shareholders or between the company and the shareholders, as to the construal or execution of these Articles of Association or, generally, regarding company matters, shall fall within the
jurisdiction of the competent courts of the location of the registered office. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As such, in case of a dispute, each shareholder must elect domicile under
the jurisdiction of the competent court of the location of the registered office, and all summons and notices shall be lawfully issued to this domicile. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If no domicile is elected, the summons and notices shall be validly made to the Office of the Public Prosecutor (<I>Procureur de la R&eacute;publique</I>) of
the regional court (<I>Tribunal de Grande Instance</I>) of the location of the registered office. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>

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<DESCRIPTION>EX-10.1
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENT NO. 3 TO THE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONSTELLIUM SE </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2013
EQUITY INCENTIVE PLAN </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>(effective as of December&nbsp;12, 2019) </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Constellium N.V., a Netherlands <I>naamloze vennootschap</I> (the &#147;<U>Company</U>&#148;), adopted the Constellium N.V. 2013
Equity Incentive Plan (the &#147;<U>Plan</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, pursuant to the approval of the Board of Directors of the Company (the
&#147;<U>Board</U>&#148;), the Plan was amended effective as of June&nbsp;11, 2014 and May&nbsp;24, 2018; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, as approved by the
Board and the shareholders of the Company, the Company converted its corporate form from a <I>naamloze vennootschap</I> with its corporate seat in the Netherlands to a European company (<I>Societas Europaea</I>) with its corporate seat in the
Netherlands and changed its name to &#147;Constellium SE&#148; and thereafter amended the Plan on June&nbsp;28, 2019 to reflect such change; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on or about December&nbsp;12, 2019, the Company will have transferred its corporate seat from the Netherlands to France and the Board
desires to reflect such changes to the corporate seat of the Company in the Plan, to be effective on the date of effectiveness of such transfer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, pursuant to Section&nbsp;12(c) of the Plan, the Plan is hereby amended as follows: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>Definitions</U>. The definition of &#147;Company&#148; in Section&nbsp;1(k) of the Plan is hereby amended by
replacing &#147;Constellium SE, a European company (<I>Societas Europaea</I>) with a corporate seat in the Netherlands&#148; with &#147;Constellium SE, a European company (<I>Societas Europaea</I>) with a corporate seat in France.&#148;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>Miscellaneous</U>. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>Full Force and Effect</U>. Except as expressly amended by this Amendment, all terms and conditions of the
Plan and any awards thereunder shall remain in full force and effect. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>Governing Law</U>. This Amendment shall be governed by the substantive laws, but not the choice of law
rules, of the Netherlands. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Approved by the Board of Directors of Constellium SE </I></P>
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