Company: SNY
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0001104659-25-063672
Chunk: 6

Company: Sanofi
Filing Date: 2025-06-27
Form: 11-K
Chunk 6
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 2024 and 2023.

Plan participants may make a direct or indirect rollover contribution to the Plan from a former employer’s taxqualified plan.
Participants can also rollover IRA distributions (excluding minimum required distributions and nondeductible contributions).

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Sanofi Puerto Rico Group Savings Plan

Notes to the Financial Statements

December 31, 2024 and 2023

The Plan was amended effective October
1, 2018, to prohibit any further investment into the Company Stock Fund including future contributions, reallocations or transfers of
existing account balances, dividends on Company Stock held in the Company Stock Fund, and loan repayments.

Employer Matching Contributions – The Company matching contribution is 150% of the pre-tax contributions for all participants, up to 6% of eligible compensation.

Participant Accounts – Each participant’s account is credited with the participants’ contributions, Company matching contributions, and Plan earnings. Participant accounts are charged with an allocation of administrative expenses and Plan losses. Allocations are based on participant earnings, account balances, or specific participant transactions, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.

Upon enrollment into the Plan a participant
may direct employee contributions into any of the Plan’s investment options. Participants may change their investment options at
any time. If a participant does not make investment elections their contributions are defaulted to the age-appropriate target date fund
within the year the participant would reach age 65. Company contributions are allocated in the same manner as that of the participant’s
elective contributions.

Vesting – Effective April
1, 2012, all eligible employees hired on or before March 31, 2012 became 100% vested in their Company matching contribution account. Employees
hired on or after April 1, 2012 will be 100% vested in their Company matching contribution account after two years of service.
Participants are always 100% vested in their pre-tax, catch up, and after-tax contribution accounts (contributions and related earnings).
Prior to April 1, 2012, employees who were participants on or before December 31, 2005 were 100% vested in their Company matching
contribution account (contribution and related earnings), and employees hired on or after January 1, 2006 were 100% vested in
their Company matching contribution account after three years of service.

Notes Receivable from Participants – Plan participants may borrow from