Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 220

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 6
Chunk 220
---
's activities in order to (i) take into account the outperformance inherent to a fast-growing biotech company and (ii) motivate the managers to exceed their objectives.

There are five pillars which are essential to the achievement of the strategic axes mentioned above.

Each pillar has been subdivided into:

(i) core objectives; and

(ii) outperformance targets.

The weights of each pillar are:

                                            Core objectives      Outperformance targets  
  Clinical & BD                                         25%                         25%  
  Clinical                                              20%                         20%  
  Clinical                                              20%                         20%  
  Research and Explanatory Development                  15%                         15%  
  Finance                                               20%                         20%  

The annual objectives thus defined make it possible to reward the Company's expected performance but also to assess outperformance.

If 100% of the basic core objectives are achieved, 100% of the corresponding bonus is paid. If not 100% of the core objectives are achieved, the percentage of the bonus paid is proportional to the percentage of achievement of the core objectives. In case of outperformance for the year 2025, the amount of the bonus may be increased beyond 100% up to a limit of 150% based on other predefined criteria.

The outperformance targets may only be reached if 100% of the core objectives are reached.

At the General Meeting to be held on May 22, 2025, the allocation of free performance shares subject to capitalization evolution and internal conditions as well as the allocation of free shares subject to specific performance criteria will be put to the vote of its shareholders.

Limitations on Liability and Indemnification Matters

Under French law, provisions of bylaws that limit the liability of the members of Executive and Supervisory Boards are prohibited. However, French law allows sociétés anonymes to contract for and maintain liability insurance against civil liabilities incurred by members of Executive and Supervisory Boards involved in a third-party action, provided that they acted in good faith and within their capacities as members of such Boards of the Company. Criminal liability cannot be indemnified under French law, whether directly by the Company or through liability insurance.

The Company has a liability insurance for its Executive and Supervisory Board members, and insurance coverage for liability under the Securities Act. The Company also entered into agreements with its Executive and Supervisory Board members to provide contractual indemnification. With certain exceptions and subject to limitations on indemnification under French law, these agreements provide for indemnification for damages and