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Consolidated Financial Statements as of December 31, 2015

Notes to the Consolidated Financial Statements

Stock grant plans

10.2.2

No new stock grants were made in 2015 and no stock grants were outstanding at December 31, 2015.

Management compensation (related parties)

10.3

The following table shows the compensation paid by the Group to serving members of the Management team and the Board of Directors during

2015 and 2014.

2015

2014

(in millions of euros)

Compensation for the period

3.9

4.2

Prior year bonus

6.3

6.3

Benefits in kind (accommodation and company car)

0.0

0.1

Total compensation paid during the period

10.3

10.5

Employer payroll taxes

3.5

3.6

Termination benefits

-

-

Other management benefit plans are as follows:

stock option plans. The serving members of the Management team

●

at December

31, 2015 held 6,160 stock options at that date

defined benefit pension plan described in Note

10.1. The plan

●

(December

31, 2014: 6,160 options). The cost of share-based

liability and cost attributable to members of the Management team

payment plans for members of the Management team was not

cannot be disclosed separately as the total liability and cost are

material in either 2015 or 2014.

allocated among members of Management and other plan

Directors’ attendance fees paid to members of the Board of Directors

participants using allocation keys;

amounted to 0.8 million euros in 2015, unchanged from 2014.

Number of employees

10.4

2015

2014

Average number of Group employees

375,529

368,797

Number of Group employees at the period-end

380,920

381,227

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2015 REGISTRATION DOCUMENT