Company: IPAR
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001753926-25-000424
Chunk: 122

Company: INTERPARFUMS INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1
Chunk 122
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 Social Security Financing Act and the specifications established in 2019 with the 100% health reform, among others), certain consumption items have been significantly improved in 2024 in favor of employees.
 
In accordance with French law, a profit-sharing agreement was signed in 2001. For 2024, as in previous years, a significant gross amount of around €4 million is going to be redistributed to employees during the first quarter of  2025.
 
Interparfums SA offers all its employees working in France (after 3 months with the company) a Company Savings Plan to encourage employee savings by offering several types of funds to suit individual projects. Since 2017, Interparfums SA has upgraded its plan by offering an “Interparfums Shareholder Fund,” enabling them to benefit from changes in the value of the Interparfums SA shares within an advantageous tax framework. These payments into the Interparfums Shareholder Fund are accompanied by a substantial matching contribution from the company. In addition, a Collective Retirement Savings Plan enables all employees to prepare for their retirement and to benefit from a substantial company contribution. Employees also have the option of transferring part of their unused leave to the Collective Retirement Savings Plan each year. Management employees benefit from a supplementary pension contract with defined contributions and compulsory membership. This individual contract is funded by monthly employee and employer contributions, which are freely allocated. Interparfums SA has chosen to help its employees build up this pension, which complement their retirement, by paying a significant proportion of the contributions. Special pension arrangements are available for employees of Interparfums SA’s subsidiaries in Singapore and the United States.
 
Social Dialogue
 
For employees working in France, elections for staff representative organizations are held every four years, as required by law. The Social and Economic Committee (“CSE”) was renewed in June 2023. It is made up of 4 managerial staff, including a harassment officer. The CSE meets once a month to be informed and consulted on strategic and organizational issues that have an impact on the employees. Following the return of the CSE in June 2023, the "Health and Safety at Work" committee was re-established as a continuation of the previous Hygiene, Safety and Work Conditions Committee. The committee is made up of two non-managerial staff and usually meets once a quarter. An employee designated as responsible for health, safety and working conditions has been appointed internally. A number of employees trained in first aid