4.4 Legal risk - Scor

Stock option plans
The Group grants its employees options or share subscription plans under the following terms:
Date of award Options exercisable Date of expiration of Exercise price
New shares issued
subject to option
Plan
by the Board
on
plan in EUR
plans
2000 4 May 2000 5 May 2004 3 May 2010 185.1 13,286
2000 31 August 2000 1 September 2005 30 August 2010 173.5 62,461
2001 4 September 2001 4 September 2005 3 September 2011 185.1 93,462
2001 3 October 2001 4 October 2005 2 October 2011 131.1 31,148
2003 28 February 2003 28 February 2007 27 February 2013 27.3 111,034
2003 3 June 2003 3 June 2007 2 June 2013 37.6 143,233
2004 25 August 2004 26 August 2008 25 August 2014 10.9 486,251
2005 16 September 2005 16 September 2009 15 September 2015 15.9 623,269
2006 14 September 2006 15 September 2010 14 September 2016 18.3 795,771
2006 14 December 2006 15 December 2010 14 December 2016 21.73 394,500
2007 13 September 2007 13 September 2011 12 September 2017 17.58 1,417,000
2008 22 May 2008 22 May 2012 21 May 2018 15.63 279,000
2008 10 September 2008 11 September 2012 10 September 2018 15.63 1,199,000
2009 23 March 2009 23 March 2013 22 March 2019 14.92 1,403,500
2009 25 November 2009 25 November 2013 25 November 2019 17.117 88,500
2010 18 March 2010 19 March 2014 19 March 2020 18.40 1,378,000
2010 12 October 2010 13 October 2014 13 October 2020 17.79 37,710
2011 22 March 2011 23 March 2015 23 March 2021 19.71 701,500
2011 1 September 2011 2 September 2015 2 September 2021 15.71 308,500
2012 23 March 2012 24 March 2016 24 March 2022 20.17 938,000
The stock options are available after 4 or 5 years regardless of whether the employee is still actively employed by the
Group.
The terms and conditions of the stock options plan of 23 March 2012, are similar to those previously decided by SCOR
(notably as regards to the presence condition), provide that the options allocated to Partners can be exercised at the earliest
4 years after the grant date, if the presence condition is met in addition to the satisfaction of certain performance conditions.
The exercise of all of the stock options allocated in 2012 is subject to performance conditions. The performance conditions
will be deemed satisfied if, in addition to the mandatory condition (5) below, at least three out of the four other conditions
listed below are met:
(1) SCOR financial strength by S&P rating must be maintained (minimum) “A” in 2012 and 2013;
(2) SCOR Global P&C’s combined ratio must be less than or equal to 102% on average in 2012 and 2013;
(3) SCOR Global Life’s technical margin must be higher than or equal to 3% on average in 2012 and 2013;
(4) The SCOR group’s ROE for the financial years ending 31 December 2012 and 31 December 2013 must be higher than
300 points above the risk-free rate on average.
(5) Absolute appliance of Group’s ethical principles as described in the Code of Conduct of SCOR Group. These principles,
as settlements to protect the interests of customers, are the pillars of sustainable development of SCOR and therefore its
performance.
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