Common use of Personal Liability of Shareholders and ADS holders Clause in Contracts

Personal Liability of Shareholders and ADS holders. No holder of any of the Shares after the consummation of the transactions contemplated by this Agreement or the Deposit Agreement is or will be subject to any personal liability in respect of any liability of the Company by virtue only of its holding of any such Shares; and, except as set forth in the Registration Statement and the Prospectus, there are no material limitations on the rights of holders of the Shares who are not French residents to hold, vote or transfer their securities.