Luxottica Group, S.p.A. (LUX)

   Incentive Stock Options Permitted.   Options may, but need not, be “Incentive Stock Options” under Section 422 of the United States Internal Revenue Code of 1986, as amended (including any replacement or successor thereto, the “Code”); provided, however, that (i) Incentive Stock Options will be exercisable not later than 9 (nine) years after the date of grant, and (ii) in the case of an Incentive Stock Option granted to a Participant who, at the time of grant, owns (as defined in Section 425(d) of the Code) stock of the Company or its Subsidiaries possessing more than 10% of the total combined voting power of all classes of stock of any such corporation, the exercise price shall be at least 110% of the fair market value of the Ordinary Shares subject to the Incentive Stock Option at the time it is granted, and the Incentive Stock Option, by its terms, shall not be exercisable after the expiration of five (5) years from the date of its grant. The aggregate fair market value (determined as of the Grant Date) of the Ordinary Shares with respect to which Incentive Stock Options are exercisable for the first time by a Participant during any calendar year (under all Incentive Stock Option plans of the Company and its Subsidiaries) shall not exceed U.S. $100,000.

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