Read the Registration Document - Guerbet

14.2 – Group share-based payment highlightsThe binomial options pricing model is applied for the fair value measurement of options granted. Under thismethod, it is possible to measure the value of options able to be exercised at any time during the option life.The value of the option thus defined is decreased by the conveyance costs resulting from restrictions to sellshares from the exercise of options prior to the fourth anniversary date of the plan.This imputed cost is determined on a price risk-neutral basis whereby the employee is able to exercise theoption at any time. This strategy consists in purchasing the share on the cash market by borrowing thefunds required and in exchange to sell forward the security. The cost of this approach is a financial expensethat represents a borrowing cost reduced by dividends.14.2.1 - Highlights of share-based payments under plans in force at 31/12/2012Grant dateNumbergrantedShare price ondate of grantVolatilityRisk-freerateExercise priceVesting period26 March 2009 6,000 € 112.20 35 % 3.80% € 112.26 2 years17 October 2011 132,710 € 66.30 35 % 2.77 % € 61.60 4 years23 November 2011 12,000 € 67.20 35 % 2.77 % € 64.30 4 years20 February 2012 1,700 € 61.50 35 % 2.77 % € 61.50 4 years14.2.2 – Breakdown of benefits per financial year for plans in force in 2012Grant date 26 March 2009 17 October 2011 23 November 2011 20 February 2012 Total2011 10 121 6 1372012 591 53 6 6502013 590 53 8 6512014 590 53 8 6512015 468 47 7 5222016 1 1Total 10 2,360 212 30 2,61214.2.3 – Impact on the balance sheetThese benefits are recognised every year according to the number of options that remain to be exercised inexchange for equity.14.3 – Average number of personnel during the yearThe average number of personnel for Guerbet Group in 2012 was 1,374 employees. The following tablesprovide a breakdown of this workforce by employee category and activity for the last three financial periods.YearManagementTechnicians/WorkersSupervisors,Medical salesPlant workers Totalrepresentatives2012 361 707 306 1,3742011 345 689 312 1,3462010 327 683 304 1,314Year Supply Chain CommercialResearch &developmentSupportfunctionsTotal2012 575 306 208 285 1,3742011 567 301 205 273 1,3462010 542 300 201 271 1,314102