Stock options and subscription rights

No subscription rights or options under either plan were exercisable at year-end (2009: none). The weighted average share price at the date of exercise in 2010 was € 56.14 for the SOP1 subscription rights (2009: € 32.66), € 71.23 for the SOP2 options (2009: € 32.77) and € 57.66 for the SOP 2005-2009 plan (2009: € 32.81). The exercise price of the subscription rights and options is equal to the lower of (i) the average closing price of the Company’s share during the thirty days preceding the date
of the offer, and (ii) the last closing price preceding the date of the offer. When subscription rights are exercised under the SOP1 or SOP 2005-2009 plan, equity is increased by the amount of the proceeds received. Under the terms of the SOP1 and SOP2 plans any subscription rights or options granted through 2004 were vested immediately.
Under the terms of the SOP 2005-2009 stock option plan an aggregate 1 137 108 subscription rights have been granted during the period 2006-2010. An aggregate 463 260 options have been granted under the terms of the SOP2 plan.
The vesting conditions of the SOP 2005-2009 grants, as well as of the SOP2 grants beginning in 2006, are such that the subscription rights or options will be fully vested on 1 January of the fourth year after the date of the offer. In accordance with the Economic Recovery Act of 27 March 2009, the exercise period of the SOP2 options and SOP 2005-2009 subscription rights granted in 2006, 2007 and 2008 was extended by five years in favor of the persons who were plan beneficiaries and subject to Belgian income tax at the time such extension was offered. The incremental fair value granted as a result of this amounts to € 0.3 million.