Company: SNY
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0001104659-25-063672
Chunk: 5

Company: Sanofi
Filing Date: 2025-06-27
Form: 11-K
Chunk 5
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 Sanofi-Aventis U.S. Savings Master Trust was renamed
the Sanofi U.S. Group Savings Master Trust (the “Master Trust”) to serve as the funding vehicle for the Plan. Accordingly,
the assets of the Plan are maintained, for investment and administrative purposes only, on a commingled basis with the assets of the other
plan within the employer’s parent company. The investments included within the Master Trust consist of equities, fixed income, mutual
funds, common collective trusts, synthetic guaranteed investment contracts and separate account contracts. The portion of assets, net
earnings, gains and/or losses, and administrative expenses allocable to each plan is based upon the relationship of the plan’s interest
in the Master Trust to the total interest of all plans in the Master Trust (Note 3).

Trusteeand Recordkeeper – Banco Popular is the Plan’s titular trustee (the “Trustee”). T. Rowe Price Trust Company
is party to the Master Trust agreement discussed above which governs and maintains the Plan’s commingled assets. T. Rowe Price Retirement
Plan Services Inc. is the Plan’s recordkeeper (Note 5).

PlanAdministration – The Sanofi-Aventis U.S. Administrative Committee (the “Committee” or “Plan Administrator”),
as appointed by the Sanofi-Aventis U.S. Pension Committee, is responsible for the general administration of the Plan. The Board of Directors
has appointed the Trustee with the responsibility for the administration of the Master Trust Agreement and the management of the assets.

EmployeeContributions–The Plan offers an auto-enrollment feature whereby a participant is automatically enrolled in the Plan to make pre-tax contributions at 6% of eligible compensation unless the participant affirmatively opts out within a 30-day period from their date of hire. In addition, the Plan adopted an automatic election escalator feature whereby participants who were automatically enrolled will have their deferral rate increased each year by 1% until their deferral rate reaches 10%, unless the participant elects out of this treatment as prescribed by the Plan document. Participants are allowed to contribute up to 75% of their eligible compensation as pre-tax contributions, and up to 10% in after-tax contributions. Contributions are subject to certain Puerto Rico Internal Revenue Code of 2011 Section 1081.01(d) limitations of $15,000 for 2024 and 2023. Employees 50 years old or older may make an additional catch-up contribution of up to $1,500 during both