Company: SNY
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0001104659-25-063672
Chunk: 7

Company: Sanofi
Filing Date: 2025-06-27
Form: 11-K
Chunk 7
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 $1,000 up to a maximum equal to the lesser of 50% of
the value of their vested account balance or $50,000 less the highest outstanding loan balance in the preceding 12 months, subject to
certain limitations described in the Plan document. Loans bear interest at a rate commensurate with the prevailing market rate, as determined
by the Company. Currently, interest rates associated with participant loans range from 5.00% to 9.50%. Principal and interest are paid
notably through payroll deductions generally over a term of up to five years. A participant may not have more than two loans outstanding
at any point in time. Extended terms of up to 15 years are available should the loan relate to the purchase of a primary residence.

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Sanofi Puerto Rico Group Savings Plan

Notes to the Financial Statements

December 31, 2024 and 2023

Payment of Benefits – Plan participants who leave the Company as a result of death, disability, retirement, or termination may
choose one or a combination of the following distribution methods: receive the entire amount of their account balance in one lump-sum
payment or receive the distribution in the form of recurring annual installments over a period of between three and fifteen years. If
a participant dies, the participant’s designated beneficiary will receive the payments.

In-service withdrawals are available
in certain limited circumstances, as defined by the Plan.

Forfeitures– Forfeited non-vested accounts may be used to pay the administrative expenses and/or to reduce the amount of employer
contributions, which are to be paid to the Plan. At December 31, 2024 and 2023, non-vested forfeited account balances totaled
$-0-. During the years ended December 31, 2024 and 2023, $-0- and $2 of forfeitures, respectively, were used to offset employer
matching contributions to the Plan. During 2025, no forfeitures were used to off-set the 2024 employer true up matching contribution to
the Plan and during 2024, forfeitures of $3 were used to off-set the 2023 employer true up matching contribution to the Plan.

Administrative Budget – T. Rowe Price (“TRP”) will provide the Plan with funding for an administrative budget of $3.75 per participant quarterly ($15.00 annually), based on the total number of terminated participants, beneficiaries, and alternative payees