Company: SNY
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0001104659-25-063669
Chunk: 5

Company: Sanofi
Filing Date: 2025-06-27
Form: 11-K
Chunk 5
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, which are included within the Transfer in line
on the Statement of Net Assets Available for Benefits.

Master Trust – Effective
April 1, 2012, Sanofi U.S. LLC, Sanofi Pasteur Inc., Sanofi-Aventis Puerto Rico Inc. and T. Rowe Price Trust Company entered into
an amended and restated Master Trust Agreement, and the 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).

Trustee and Recordkeeper –
T. Rowe Price Trust Company is the Plan’s trustee (the “Trustee”). The Trustee is party to the Master Trust Agreement
discussed above which governs and maintains the Plan’s commingled assets, as well as a general trust agreement for all other Plan
operations. T. Rowe Price Retirement Plan Services Inc. is the Plan’s recordkeeper (Note 5).

Plan Administration –
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.

Employee Contributions –
The Plan has 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