(Special report of the statutory auditors on the conventions and commitments set out in Articles L. 225-38 et seq. of the French Code de Commerce, in particular, the ones entered into between a company and its corporate officers as well as between companies of a group with common executives)
The General Meeting, pursuant to the quorum and majority requirements applicable to Annual General Meetings, acknowledges the Statutory Auditors' special report on the agreements and commitments referred to in Article L.225-38 of the French Code de Commerce, and approves the agreements and undertakings set out therein.
Presentation of the resolution
As part of the current operations of a company, and more particularly, when the company is the key component of a group of companies, there may be agreements, entered directly or indirectly between the company and another company with which it has shared executives, or even between the company and its officers or a shareholder who holds more than 10% of the company's registered capital. These agreements require the prior authorisation of the Board of Directors and must be approved by the Meeting of Shareholders after hearing the Statutory Auditors' special report pursuant to Articles L. 225-38 et seq. of the French Code de Commerce. This is the subject of the fourth resolution.
For BNP Paribas, the agreements and undertakings entered into during signed in fiscal 2010 concern the signing of a memorandum of understanding to replace the agreement established in December 2005 between AXA and BNP Paribas.