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Corporate social responsibility6Employee savings plansSequana and Sequana Ressources & Services, the French holdingcompanies for the Group, set up an employee savings plan withinthe meaning of Article L. 3322-7 of the French Labour Codeand French Law No. 2001-152 of 19 February 2001 on employeesavings. The amounts paid into this plan by beneficiaries may beused to acquire units in mutual funds, including a fund investedexclusively in Sequana shares and/or other listed securities issuedby Sequana. These mutual funds are managed by CIC-ÉpargneSalariale. Only amounts invested in the mutual fund dedicatedto Sequana shares (“Sequana Épargne”) are eligible for top-upcash payments made by the participating companies. The grossamounts paid in by the beneficiaries, plus the top-up paymentsinvested in this fund by the two companies for 2012, came to€163,860, of which a gross amount of €33,832 was invested inSequana’s mutual fund.ArjowigginsTo round out the local employee savings plans offered by subsidiaries,Arjowiggins has set up two group savings plans (“PEG”).The first plan was set up at the level of Arjowiggins SAS followinga collective agreement dated 31 January 2002. The separateentities covered by this plan were spun off in June 2008, therebymaintaining their eligibility for the group savings plan. This planwas designed with the aim of encouraging employee share ownership.The amounts paid into the plan by employees may be usedto acquire units in mutual funds, including a fund invested exclusivelyin Sequana shares and are eligible for top-up payments bythe company of up to €500 per year. These mutual funds are managedby BNP Paribas. Only amounts invested in the mutual funddedicated to Sequana shares (“Arjowiggins Croissance”) are eligiblefor top-up cash payments by the company. This initial groupsavings plan was supplemented by a second plan set up unilaterallyon 28 February 2003 for the same population as the initialplan. The second plan was designed with the aim of boostingemployee share ownership. The amounts paid into this plan byemployees may be used to acquire units in the Horizon Plus AWmutual fund managed by Étoile Gestion du Crédit du Nord.AntalisAntalis International launched an employee savings plan onsetting up its profit-sharing and incentive bonus schemes. Theamounts paid into this plan by employees may be used to acquireunits in the mutual fund managed by Natixis. In 2010, thisemployee savings plan was amended to incorporate a mutual fundinvested exclusively in Sequana shares and eligible for top-up cashpayments made by the company. On 15 April 2011, ArjowigginsCreative Papers set up an employee savings plan eligible for thesame top-up payments as Sequana.In 2011, Antalis SNC signed an agreement with employee representativebodies setting up an employee savings plan. On12 December 2012, the company signed an amendment to itsprofit-sharing agreement providing for the possibility of payingthe profit-sharing bonus into the employee savings plan withinthe limits allowed by law.Collective retirement savings plan (“PERCO”)Sequana and Sequana Ressources & Services also operate a collectiveretirement savings plan (“PERCO”), set up in accordancewith the French Pension Reform Act of 21 August 2003 (the“Fillon Act”). Under this plan, employees can build up retirementsavings over the long term. The amounts collected are invested inmutual funds and may be topped up by the member companies.The gross amounts paid in by the beneficiaries, plus the top-uppayments invested in this fund by the two companies for 2012,came to €168,985.The Group therefore offers a large number of different employeesavings arrangements. These arrangements will soon be simplifiedand reorganised, particularly at Arjowiggins where talks arealready underway with trade union organisations. These talksshould lead to a collective retirement savings plan being introducedinto entities that do not as yet offer one.Plans granting rights to Sequana shares –Employee share ownershipThe Group set up stock option plans which grant beneficiariesrights to Sequana shares at certain times and at prices set bythe law in accordance with the resolutions of the Shareholders’Meeting authorising the plans. These plans are described in thesection on potential share capital on pages 67 and 193. In mostcases, the conditions applicable to these (now old) plans make itunlikely that the related stock options will be exercised.More recently, the Group set up share award plans for (i) seniorexecutives of Sequana, or (ii) more generally in 2010, high-performingGroup employees considered to play an instrumental rolein the Group’s development. However, these awards are subject tocontinuing employment with the Group and performance criteriaunder which beneficiaries are only entitled to receive the Sequanashares if certain specified conditions relating to the Group’sthree-year business plan are met. This gives beneficiaries a directstake in the Group’s future earnings and the performance of thebusinesses for which they work or which they manage.Under the share award plan of 9 February 2010 (see pages 67 and194), the only current such plan, 473,742 Sequana shares witha par value of €1.50 each were awarded to Group employees on30 April 2012.The Group’s employees are also indirect owners of Sequanashares through the units they own in mutual funds under incentivebonus and employee savings schemes. At 31 December 2012,80,115 Sequana shares were held by Group employees undermutual funds invested in Sequana shares.Sequana | 2012 Document de référence (English version) | 203