Section 3: Distribution of profit-sharing.

The total amount of bonuses distributed to beneficiaries must not exceed 20% of the total gross salaries and, where applicable, of the annual remuneration or professional income of the beneficiaries mentioned in article L. 3312-3 subject to income tax in respect of the previous year paid to the persons concerned. The amount of bonuses distributed to any one beneficiary may not, in respect of any one financial year, exceed a…

Any sums paid to beneficiaries under the profit-sharing agreement after the last day of the fifth month following the end of the financial year will be subject to late payment interest equal to 1.33 times the rate set inarticle 14 of law no. 47-1775 of 10 September 1947 on the status of cooperatives. This interest, which is payable by the company, is paid at the same time as the principal…

The Board of Directors or the Management Board may decide to pay a collective profit-sharing supplement in respect of the financial year just ended, in compliance with the ceilings mentioned in Article L. 3314-8 and in accordance with the allocation procedures provided for by the profit-sharing agreement or by a specific agreement concluded in accordance with the procedures provided for in Article L. 3312-5. These sums may in particular be…

The sums which could not be distributed because of the rules defined in articles L. 3314-5 and L. 3314-8 are, if the agreement so provides, immediately distributed among all the employees and, where applicable, the beneficiaries mentioned in article L. 3312-3 to whom sums of less than the ceiling of individual rights set in article L. 3314-8 have been paid. This ceiling may not be exceeded as a result of…