Abstract: An online auction process for derivative securities is used to determine a fair market value of an asset or benefit provided to others, such as employee stock options. In one embodiment, the derivative securities track the intrinsic value realized by employees when exercising the employee stock options granted to them by their employers. The derivative securities may include rules for handling modifications to an employee stock option grant and/or rules for handling forfeitures of some or all of the employee stock options.

Abstract: Novel water-resistant, repulpable and hydrophilic papers having a soft feel are prepared from paper pulps containing at least one resin (A) which improves the wet strength thereof and, optionally, at least one wet strength promoter (B), the paper pulps or papers prepared therefrom having been treated with a composition (D) comprising at least one polyorganosiloxane (C) which contains, per molecule, at least one siloxyl unit substituted by at least one functional group V directly bonded to a silicon atom, such functional group V comprising sterically hindered piperidinyl functional group(s).