French Commercial code
In forceI.-The information provided by the company on pension commitments, other than basic pension schemes and compulsory supplementary pension schemes, or other lifetime benefits made by the company for the benefit of its corporate officers pursuant to 4° of Article L. 22-10-9 specifies for each corporate officer the essential constituent elements of such commitments, in particular:
1° With regard to pension and similar commitments, and any other benefit paid in respect of the termination of functions in whole or in part in the form of an annuity, where these commitments are the responsibility of the company:
a) The title of the pension and similar commitments, and any other benefit paid in respect of the termination of functions in whole or in part in the form of an annuity, where these commitments are the responsibility of the company
a) The title of the commitment in question;
b) A reference to the legal provisions identifying the corresponding category of scheme;
> c) The conditions for entry into force of the scheme
c) The conditions for entry into the scheme and the other conditions for benefiting from it;
d) The methods used to determine the reference salary set by the scheme concerned and used to calculate the entitlements of beneficiaries;
> e) The rate at which entitlements are acquired;
f) The rate at which entitlements are acquired
e) The rate at which entitlements vest;
> f) The existence, if any, of a supplementary pension scheme
f) Whether there is a ceiling, the amount of the ceiling or the method of determining the ceiling;
> g) The method of financing the rights
g) The arrangements for financing the rights;
h) The estimated amount of the
h) The estimated amount of the annuity at the end of the financial year;
i) The associated tax and social security charges;
ii) The amount of the annuity at the end of the financial year.
i) The tax and social security charges associated with the commitment in question and borne by the company;
2° With regard to other lifetime benefits:
a) The title of the benefit in question
a) The title of the life annuity in question;
b) The estimated amount of the life annuity, valued on an annual basis at the balance sheet date;
> c) The financing arrangements for the life annuity
c) The methods used to finance the lifetime benefit;
d) The associated tax and social security charges
d) The tax and social security charges associated with this benefit and payable by the company;
II.
II.-The estimated amount of the annuity at the balance sheet date referred to in h of 1° of I of this article is established as follows:
1° The annuity is estimated on an annual basis;
2° It takes into account the length of service acquired by the mandatary on the closing date of the financial year;
> It takes into account the length of service acquired by the mandatary on the closing date of the financial year;
3° Where applicable, it is based on remuneration as recorded during the last financial year(s);
> 4° It is calculated independently of the number of years of service.
4° It is calculated, irrespective of the conditions under which the commitment is fulfilled, as if the corporate officer could benefit from it from the day after the end of the financial year;
5° The estimated annuity distinguishes, where applicable, the portion of the annuity granted under a scheme referred to in article L. 137-11 of the Social Security Code from that paid under another scheme set up by the company.
