Company: IPAR
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001753926-25-000424
Chunk: 81

Company: INTERPARFUMS INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 10
Chunk 81
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Pension Benefits

The following table sets forth certain information relating to payment of benefits in connection with retirement plans during the past fiscal year, for the executive officers of our Company listed in the Summary Compensation Table. 

PENSION BENEFITS

Name
 
Plan Name
 
Numberof YearsCreditedService (#)
 
PresentValue ofAccumulatedBenefit* ($)

PaymentsDuringLast FiscalYear ($)

Jean Madar
 
NA
 
NA

-0-

-0-

Michel Atwood
 
NA
 
NA

-0-

-0-

Philippe Benacin
 
Interparfums SA Pension Plan
 
NA

396,655

19,072

Philippe Santi
 
Interparfums SA Pension Plan
 
NA

396,504

18,920

Frédéric Garcia-Pelayo
 
Interparfums SA Pension Plan
 
NA

396,552

18,969

*
Does not include any contributions made by prior employers, or individually by the recipients as such information is confidential under French law.

66

Interparfums SA maintains a pension plan for all of its employees, including all executive officers. The calculation of commitments for severance benefits involves estimating the probable present value of projected benefit obligations. This projected benefit obligations are then prorated to take into account seniority of the employees of Interparfums SA on the calculation date.

In calculating benefits, the following assumptions were applied:

-

voluntary retirement at age 65;

-

a rate of 45% for employer payroll contributions for all employees;

-

a 4% average annual salary increase;

-

an annual rate of turnover for all employees under 55 years of age and nil above;

-

the TH 00-02 mortality table for men and the TF 00-02 mortality table for women;

-

a discount rate of 3.38%.

The normal retirement age is 65 years, but employees, including Messrs. Benacin, Santi and Garcia-Pelayo, can collect reduced benefits if they retire at age 62. Mr. Garcia-Pelayo retired on December 31, 2024 and started collecting reduced benefits.

Nonqualified Deferred Compensation

We do not maintain any nonqualified deferred compensation plans.

CEO Pay Ratio

As required by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(u) of Regulation S-K, we are providing the following information about the relationship of the annual total