Document:

EX-10.9

 Exhibit 10.9 
  

 
 CRITEO 

2013 FREE SHARE PLAN 

RESTRICTED UNIT SHARES 

 
  

Approved by the Board of Directors on July 10, 2013 

and by the shareholders’ meeting on August 2, 2013 

 TABLE OF CONTENTS 

 

							
	1.	  	IMPLEMENTATION OF THE FREE SHARE PLAN	  	3
			
	2.	  	DEFINITIONS	  	3
			
	3.	  	PURPOSE	  	4
			
	4.	  	BENEFICIARIES	  	5
			
	5.	  	NOTICE OF THE ALLOCATION OF THE SHARES	  	5
			
	6.	  	ACQUISITION PERIOD	  	5
				
		  	6.1.	  	Principle	  	5
				
		  	6.2	  	Internal mobility	  	6
				
		  	6.3	  	Disability	  	6
				
		  	6.4	  	Decease	  	6
				
		  	6.5	  	Retirement	  	6
			
	7.	  	HOLDING PERIOD	  	6
				
		  	7.1	  	Principle	  	6
				
		  	7.2	  	Specific situations	  	7
			
	8.	  	CHARACTERISTICS OF THE SHARES	  	7
			
	9.	  	DELIVERY AND HOLDING OF THE SHARES	  	7
			
	10.	  	INTERMEDIARY OPERATIONS	  	8
			
	11.	  	ADJUSTMENT	  	8
			
	12.	  	AMENDMENT TO THE PLAN	  	9
				
		  	12.1	  	Principle	  	9
				
		  	12.2	  	Notice of the amendments	  	9
			
	13.	  	TAX AND SOCIAL RULES	  	9
			
	14.	  	MISCELLANEOUS	  	9
				
		  	14.1	  	Rights in relation to the capacity of employee	  	9
				
		  	14.2	  	Applicable law - Jurisdiction	  	9
				
		  	14.3	  	Provisions Applicable to Beneficiaries Located outside of France	  	9

  
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 1. IMPLEMENTATION OF THE FREE SHARE
PLAN 
 Pursuant to decisions of Criteo’s board of directors dated July 10, 2013 as approved by the combined ordinary and
extraordinary shareholders’ general meeting of Criteo, a French société anonyme whose registered office is located 32, rue Blanche, 75009 Paris, France, whose identification number is 484 786 249 R.C.S. Paris
(hereafter referred to as the “Company”), of the delegation of authority granted to the Board of Directors to allocate free shares, the Board of Directors adopted and approved the present free share plan stating the conditions and
criteria for the allocation of free shares of the Company to the benefit of employees of the Company or to certain categories of such employees, and/or to the benefit of its corporate officers who meet the conditions set forth by Article
L. 225-197-1 II of the French commercial code, as well as to the benefit of employees of companies or economic interest groups whose share capital or voting rights are held, directly or indirectly, for more than ten per cent (10%) by
the Company at the date of allocation of said shares (hereafter referred to as the “2013 Plan”). 
 2. DEFINITIONS

 Under the present 2013 Plan, the following terms and expressions starting with a capital letter shall have the following meaning and may be used
indifferently in the singular or in the plural form: 
  

									
	 “Acquisition Date”
	  	refers to the date when the free Shares have been definitely acquired by the relevant Beneficiary;
		
	 “Acquisition Period”
	  	refers to the two (2) year period starting on the Allocation Date and ending on the Acquisition Date, being specified that the Board of Directors may decide to extend this period so that its duration be equal to four
(4) years for certain Beneficiaries who are not French tax resident, as stated in the corresponding Allocation Letter;
		
	 “Allocation”
	  	refers to the decision of the Board of Directors to allocate free Shares to a given Beneficiary. This Allocation constitutes a right to be granted Shares at the end of the Acquisition Period subject to the compliance
with the conditions and criteria set forth by the present 2013 Plan;
		
	 “Allocation Date”
	  	refers to the date when the Board of Directors decided to allocate free Shares under the 2013 Plan;
		
	 “Allocation Letter”
	  	refers to the notice which informs a given Beneficiary of the Allocation of free Shares, as stated in Article 5 of the 2013 Plan;
		
	 “Beneficiaries”
	  	refers to the person(s) for whose benefit the Board of Directors decided an Allocation of Shares as well as, as the case may be, his or her heirs;
		
	 “Board of Directors”
	  	refers to the Company’ s board of directors;
		
	 “Bylaws”
	  	refers to the bylaws of the Company in force at the date referred to;

  
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	 “Disability”
	  	refers to the disability of a Beneficiary corresponding to the second or third of the categories provided by Article L. 341-4 of the French social security code;
		
	 “Group”
	  	refers to the Company and to all the companies and groups affiliated to the Company within in the meaning of Article L. 225-197-2 of the French commercial code;
		
	 “Holding Period”
	  	refers to the two (2) year period starting on the Acquisition Date, it being specified that no Holding Period will be applicable to the Beneficiaries for whom the duration of the Acquisition Period is equal to four
(4) years as from the Allocation Date, as stated in the corresponding Allocation Letter;
		
	 “Presence”
	  	refers to the presence of the Beneficiary in his or her capacity of employee and/or corporate officer of the Company or of any of the companies of the Group;
		
	 “Regulated Market”
	  	Refers to a regulated market in the meaning of Article L. 421-1 of the French monetary and financial code (code monétaire et financier) the list of which is established and up-dated by the French
Minister in charge of the economy upon proposal from the AMF. It is noted that this list does not include the Nasdaq National Market on the date of adoption of the 2013 Plan by the Board;
		
	 “Shares”
	  	refers to the shares issued or which will be issued by the Company in representation of its share capital pursuant to their acquisition by Beneficiaries;
		
	 “Trading Day”
	  	refers to the working days when the NASDAQ Stock Market proceeds to the listing of shares on the NASDAQ Stock Market other than days when the listings end prior to the usual closing hour.
		
	 “Working Day”
	  	refers to any day on which legal business can be conducted within the Company, i.e. every Monday, Thuesday, Wednesday, Thursday and Friday, as long as it is not a public holiday.

 3. PURPOSE 

The 2013 Plan sets forth the conditions and criteria for the allocation of free Shares under the 2013 Plan, pursuant to Articles
L. 225-197-1 et seq. of the French commercial code and to the authorization granted by the shareholders’ general meeting of the Company dated August 2, 2013. 

The purposes of the 2013 Plan are: 
  

	 	•	 	to attract and retain the best available personnel for positions of substantial responsibility; 

  

	 	•	 	to provide additional incentive to Beneficiaries; and 

  

	 	•	 	to promote the success of the Company’s business. 

  
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 4. BENEFICIARIES 

Pursuant to the authorization of the shareholders’ general meeting dated August 2, 2013, the Board of Directors of the Company will
approve the list of Beneficiaries among its employees and the employees of companies in which it holds, directly or indirectly, at least ten per cent (10%) of the share capital and voting rights, together with the indication of the number of
free Shares allocated to each of them. 
 5. NOTICE OF THE ALLOCATION OF
THE SHARES 
 The notice of the Allocation of Shares to the Beneficiaries shall be made pursuant to an
Allocation Letter as set forth in Exhibit 1 delivered by the Board of Directors or by any other person selected by the Board of Directors, by registered mail with acknowledgement of receipt, in person with acknowledgement of receipt or by
electronic delivery, together with a copy of the present 2013 Plan, indicating the number of Shares allocated to the Beneficiary, the Acquisition Period and the Holding Period. 

The Beneficiary shall acknowledge receipt of the Allocation Letter and of the 2013 Plan by accepting online his Allocation documentation by
means of the tool made available to him by the Company and by sending signed copies of these documents with a signed copy of a contractual undertaking in the form attached as Exhibit 2 hereto or such subsequent version thereof within one
(1) month from the date of notification by the Company of the availability on line of the Allocation documentation, the documents being deemed to be received on the date of the electronic delivery, in the absence of which the Allocation shall
be null and void for this Beneficiary. 
 6. ACQUISITION PERIOD 

 

	6.1.	Principle 

 The free Shares allocated under the 2013 Plan shall be definitively acquired
by the Beneficiaries at the end of the Acquisition Period, provided that the following condition precedent is met: 
  

	 	•	 	continued Presence of the Beneficiary during the Acquisition Period, in the absence of which he or she will not be entitled to acquire Shares on the date when this condition is no longer met; 

it being specified that the Board of Directors shall be entitled to release a given Beneficiary from the condition set forth above for all or
part of the Shares granted. 
 Should the Beneficiary be at the same time an employee and a (corporate) officer of the same company or of two
companies of the Group, the loss of one of these capacities shall not result in the loss of the right to acquire the free Shares allocated under the 2013 Plan at the end of the Acquisition Period. 

  
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 Pursuant to Article L. 225-197-3 of the French commercial code, the Beneficiaries hold a
claim against the Company which is personal and may not be transferred until the end of the Acquisition Period. 
 During the Acquisition
Period, the Beneficiaries will not own the free Shares and will not be shareholders of the Company. As a consequence, they will not hold any rights attached to the Shares. 
  

	6.2	Internal mobility 

 In the event of transfer or temporary assignment of the Beneficiary
within a company of the Group, implying (i) the termination of the initial employment agreement and the entering into of a new employment agreement or of a position as (corporate) officer, and/or (ii) a resignation of the Beneficiary from
his or her position as corporate officer and the acceptance of a new position of corporate officer or the entering into of a new employment agreement in one of such companies, the Beneficiary shall retain his or her right to be allocated free Shares
at the end of the Acquisition Period. 
  

	6.3	Disability 

 In the event of Disability before the end of the Acquisition Period, the
free Shares shall be definitively acquired by the Beneficiary on the date of Disability. 
 For participants subject to tax in the US, the
date of such disability shall be the date such disability is incurred and in all cases such shares shall be delivered by March 15th of the year following the year in which such disability is
incurred. 
  

	6.4	Decease 

 In the event of decease of the Beneficiary during the Acquisition Period, the
free Shares shall be definitively acquired at the date of the request of allocation made by his or her beneficiaries in the framework of the inheritance. 

The request for allocation of the Shares shall be made within six (6) months from the date of the decease in compliance with Article
L. 225-197-3 of the French commercial code. 
  

	6.5	Retirement 

 In the event of the retirement of a Beneficiary during the Acquisition
Period, the Board of Directors of the Company may decide that the condition set forth in article 6.1 above shall be deemed to be met for all or part of the Shares granted upon the date of such retirement. 

7. HOLDING PERIOD 
  

	7.1	Principle 

  

	 	a)	During the Holding Period, if any, the Beneficiaries concerned will be the owner of the free Shares allocated under the 2013 Plan and will be shareholders of the Company. As a consequence, they will benefit from all the
rights attached to the capacity of shareholder of the Company. 

  
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 However, the free Shares shall not be available during the Holding Period and the Beneficiaries
may not transfer or pledge the Shares, by any means, or convert them into the bearer form. 
  

	 	b)	At the end of the Holding Period, the Shares will be fully available, subject to the provisions of the following paragraph. 

At the end of the Holding Period, if the Company’s shares are listed on a Regulated Market, the free Shares allocated under the 2013 Plan
may not be transferred during the “black-out” periods set forth in Article L. 225-197-1 of the French commercial code, i.e., as currently provided: 
  

	 	•	 	within ten (10) Trading Days before and three (3) Trading Days after the date on which the consolidated accounts, or failing that, the annual accounts, are published; 

 

	 	•	 	during the period between the date on which the Company’s management bodies have knowledge of information which, were it to be published, could have a significant impact on the price of the Shares, and the date
falling ten (10) Trading Days after the date on which the said information is published. 

  

	7.2	Specific situations 

 Notwithstanding the provisions of the second paragraph of Article
7.1 above, the free Shares allocated to the Beneficiaries referred to at Article 6.3 above or to the beneficiaries of the deceased Beneficiary referred to at Article 6.4 above may be freely transferred as from the date of their final
allocation. 
 8. CHARACTERISTICS OF THE SHARES 

The Shares definitively allocated shall be, at the Company’s choice, new ordinary shares to be issued by the Company or existing Shares
acquired by the Company. 
 As from the Acquisition Date, they shall be subject to all the provisions of the Bylaws. 

They shall be assimilated to existing ordinary shares of the Company and shall benefit from the same rights as from the Acquisition Date. 

9. DELIVERY AND HOLDING OF THE SHARES 

At the end of the Acquisition Period, the Company shall deliver to the Beneficiary the free Shares allocated under the 2013 Plan provided that
the conditions and criteria for such allocation provided by Articles 5 and 6 above are met. 
 If the Acquisition Date is not a Working
Day, the delivery of the Shares shall be completed the first Working Day following the end of the Acquisition Period. 

  
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 The Shares that may be acquired under the 2013 Plan will be held, during the Holding Period (if
any), under the nominative form (nominatif pur) in an individual account opened in the name of the relevant Beneficiary at BNPP Securities Services with a mention that they cannot be transferred. At the end of the Holding Period (or the end
of the Acquisition Period if there is no Holding Period) if the provisions of article 7.1(b) above are applicable, the Shares will have to remain under the nominative form (nominatif pur) at BNPP Securities Services until the time they are
transferred to make sure that the restrictions set forth in the last paragraph of Article 7.1 above are complied with. 
 In the event that,
as a consequence of the Allocation of free Shares under the 2013 Plan, the Company or any of the companies of the Group shall be compelled to pay taxes, social costs or any other social security taxes or contributions on behalf of the Beneficiary,
the Company retains the right to postpone or to forbid the delivery of the Shares on the Acquisition Date until the relevant Beneficiary has paid to the Company or to the relevant company of the Group the amount corresponding to these taxes, social
costs, or social security taxes or contributions. 
 10. INTERMEDIARY OPERATIONS 

In the event of exchange without equalization payment in cash (soulte) resulting from an operation of merger or spin-off completed in
compliance with the applicable regulations during the Acquisition Period or the Holding Period, the companies taking part in the operation shall substitute to the Company and the provisions of the present 2013 Plan, and notably the durations of the
Acquisition Period and of the Holding Period shall apply to the allocation rights and to the shares received in compliance with Article L. 225-197-1 III of the French commercial code. 

The same shall apply in the event of a public offering operation, of a division or a grouping of shares completed in compliance with the
application regulations during the Holding Period. 
 11. ADJUSTMENT 

Should the Company proceed, during the Acquisition Period, to an amortization, to a share capital reduction, to a change in the allocation of
its profits, to an allocation of free shares to all the shareholders, to a capitalization of reserves, profits or issuance premiums, to an allocation of reserves or to an issuance of equity securities or giving right to the allocation of equity
securities including a preferential subscription right reserved to the shareholders, the maximum number of Shares allocated under the 2013 Plan may be adjusted in order to take into account said operation by application, mutatis mutandis, of
the terms of adjustment provided by the law for the beneficiaries of stock options. 
 Each Beneficiary shall be informed of the practical
terms of the adjustment and of its consequences on the Allocation of Shares he or she benefited from, it being specified that the free Shares allocated pursuant to this adjustment shall be governed by the present 2013 Plan. 

  
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 12. AMENDMENT TO THE 2013 PLAN 

 

	12.1	Principle 

 The present 2013 Plan may be amended by the Board of Directors upon
authorization of the said Board of Directors of the Company, it being specified that the amendments shall be subject to the written consent of the Beneficiaries if it results in a decrease in the rights of said Beneficiaries. 

The new provisions shall apply to the Beneficiaries of the Shares during the Acquisition Period on the date of the decision to amend the 2013
Plan made by the Board of Directors, or the written consent of the Beneficiary, if required. 
  

	12.2	Notice of the amendments 

 The amendments to the 2013 Plan shall be notified to the
relevant Beneficiaries, by all means, including by electronic delivery, internal mail, by simple letter or, with acknowledgement of receipt, by fax or by e-mail. 

13. TAX AND SOCIAL RULES 

The Beneficiary shall bear all taxes and mandatory costs which he or she must bear pursuant to the applicable law in relation to the allocation
of free Shares, on the due date of said taxes or costs. 
 Each Beneficiary shall verify and carry out, as the case may be, the declaratory
obligations he or she must comply with in relation to the allocation of the free Shares. 
 14. MISCELLANEOUS 

 

	14.1	Rights in relation to the capacity of employee 

 No provisions of the present 2013 Plan
shall be construed as granting to the Beneficiary a right to have his or her employment agreement with the Company or any of the companies of the Group maintained, or limiting the right of the Company or any of the companies of the Group to
terminate or amend the terms and conditions of the employment agreement of the Beneficiary. 
  

	14.2	Rights in relation to future free share plans 

 The fact that a person may benefit from
the 2013 Plan does not imply that he or she shall benefit from any other plan that may be implemented thereafter. 
  

	14.3	Applicable law – Jurisdiction 

 The present 2013 Plan is subject to French law. Any
dispute relating to its validity, its interpretation or its performance shall be decided by the competent courts of the French Republic. 
  

	14.4	Provisions Applicable to Beneficiaries Located outside of France 

 The attached Appendix
applies to Beneficiaries located outside of France. 

  
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 APPENDIX 

TERMS AND CONDITIONS 
 This Appendix contains
additional terms and conditions that will apply to the Beneficiary if he or she resides outside of France. Capitalized terms used but not defined herein shall have the same meanings assigned to them in the 2013 Plan. 

NOTIFICATIONS 
 This Appendix also includes
information regarding exchange control and certain other issues of which the Beneficiary should be aware with respect to his or her participation in the 2013 Plan. The information is based on the securities, exchange control and other laws in effect
in the respective countries as of July 2013. Such laws are often complex and change frequently. The Company therefore strongly recommends that the Beneficiary not rely on the information in this Appendix as the only source of information relating to
the consequences of his or her participation in the 2013 Plan because such information may be outdated when the Beneficiary vests in the Shares and/or sells any Shares issued pursuant to the award. 

GENERAL PROVISIONS 
 Taxes. Regardless of
any action the Company or the Beneficiaries’ Employer (the “Employer”) takes with respect to any or all income tax, social insurance, payroll tax, or other Tax-Related withholding (“Tax-Related Items”), the Beneficiary
acknowledges that the ultimate liability for all Tax-Related Items legally due by the Beneficiary is and remains the Beneficiary’s responsibility and that the Company and/or the Employer (1) make no representations or undertakings
regarding the treatment of any Tax-Related Items in connection with any aspect of the Share grant, including the grant, vesting of the Shares, the subsequent sale of Shares acquired pursuant to such vesting and the receipt of any dividends; and
(2) do not commit to structure the terms of the grant or any aspect of the Shares to reduce or eliminate the Beneficiary’s liability for Tax-Related Items. 

Prior to vesting of the Shares, the Beneficiary will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all
withholding obligations of the Company and/or the Employer, if any. In this regard, the Beneficiary authorizes the Company and/or the Employer to withhold all applicable Tax-Related Items legally payable by the Beneficiary from the
Beneficiary’s compensation paid to the Beneficiary by the Company and/or Employer or from proceeds of the sale of Shares. Alternatively, or in addition, if permissible under local law, the Company may (1) sell or arrange for the sale of
Shares that the Beneficiary acquires to meet the withholding obligation for Tax-Related Items and/or (2) withhold in Shares, provided that the Company only withholds the amount of Shares necessary to satisfy the minimum withholding amount.
Finally, the Beneficiary will pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold as a result of the Beneficiary’s participation in the 2013 Plan or the
Beneficiary’s acquisition of Shares that cannot be satisfied by the means previously described. The Company may refuse to honor the vesting and refuse to deliver the Shares if the Beneficiary fails to comply with Beneficiary’s obligations
in connection with the Tax-Related Items as described in this section. 

  
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 Nature of Grant. In accepting the grant, the Beneficiary acknowledges that: 

(a) the 2013 Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or
terminated by the Company at any time, unless otherwise provided in the 2013 Plan; 
 (b) the grant of the Shares is voluntary and
occasional and does not create any contractual or other right to receive future grants of Shares, or benefits in lieu of Shares, even if Shares have been granted repeatedly in the past; 

(c) all decisions with respect to future grants, if any, will be at the sole discretion of the Company; 

(d) Beneficiary’s participation in the 2013 Plan shall not create a right to further employment with the Employer and shall not interfere
with the ability of the Employer to terminate Beneficiary’s employment relationship at any time with or without cause unless otherwise required under local law; 

(e) Beneficiary is voluntarily participating in the 2013 Plan; 

(f) the Shares are an extraordinary item that do not constitute compensation of any kind for services of any kind rendered to the Company or
the Employer, and which is outside the scope of Beneficiary’s employment contract, if any; 
 (g) the Shares are not part of normal or
expected compensation or salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy, end of service payments, bonuses, long service awards, pension or retirement benefits or similar
payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or the Employer; 

(h) in the event that Beneficiary is not an employee of the Company, the grant will not be interpreted to form an employment agreement or
relationship with the Company; and furthermore, the grant will not be interpreted to form an employment agreement with the Employer or any subsidiary or affiliate of the Company; 

(i) the future value of the underlying Shares is unknown and cannot be predicted with certainty; 

(j) if the Beneficiary obtains Shares, the value of those Shares may increase or decrease; 

(l) in consideration of the grant, no claim or entitlement to compensation or damages shall arise from termination of the award of Shares or
diminution in value of the award resulting from termination of the Beneficiary’s employment with the Company or the Employer (for any reason whatsoever) and the Beneficiary irrevocably releases the Company and the Employer from any such claim
that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by signing the 2013 Plan, the Beneficiary shall be deemed irrevocably to have waived the Beneficiary’s
entitlement to pursue such claim; and 
 (m) unless otherwise decided by the Board of Directors, in the event of termination

  
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of Beneficiary’s employment during the acquisition period, Beneficiary’s right to vest in the Shares under the 2013 Plan, if any, will terminate effective as of the date that
Beneficiary is no longer actively employed and will not be extended by any notice period mandated under the local law (e.g., active employment would not include a period of “garden leave” or similar period pursuant to local law).

 Data Privacy. The Beneficiary hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of
the Beneficiary’s personal data as described in this document by and among, as applicable, the Employer, the Company and its subsidiaries and affiliates for the exclusive purpose of implementing, administering and managing the
Beneficiary’s participation in the 2013 Plan. 
 The Beneficiary understands that the Company and the Employer may hold certain personal
information about the Beneficiary, including, but not limited to, the Beneficiary’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any Shares or
directorships held in the Company, details of all awards or any other entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in Beneficiary’s favor, for the exclusive purpose of implementing, administering and
managing the 2013 Plan (“Data”). 
 The Beneficiary understands that the recipients of the Data may be located in France or elsewhere, and
that the recipients’ country may have different data privacy laws and protections than the Beneficiary’s country. The Beneficiary understands that the Company may request a list with the names and addresses of any potential recipients of
the Data by contacting the Beneficiary’s local human resources representative. The Beneficiary authorizes the Company and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering
and managing the 2013 Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing the Beneficiary’s participation in the 2013 Plan. The Beneficiary
understands that Data will be held only as long as is necessary to implement, administer and manage the Beneficiary’s participation in the 2013 Plan. The Beneficiary understands that Company may, at any time, view the Data, request additional
information about the storage processing of the Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing the Beneficiary’s local human resources representative.
Beneficiary understands, however, that refusing or withdrawing the Company’s consent may affect the Beneficiary’s ability to participate in the 2013 Plan. For more information on the consequences of the Beneficiary’s refusal to
consent or withdrawal of consent, Beneficiary understands that Company may contact the Beneficiary’s local human resources representative. 

Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to the 2013 Plan or future awards that may be
granted under the 2013 Plan by electronic means or to request Beneficiary’s consent to participate in the 2013 Plan by electronic means. Beneficiary hereby consents to receive such documents by electronic delivery and, if requested, to agree to
participate in the 2013 Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company. 

  
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 Severability. The provisions of this 2013 Plan are severable and if any one or more provisions are
determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable. 

For tax residents of the United States 

Beneficiary acknowledges that both this award and any Shares are securities, the issuance by the Company of which requires compliance with federal and state
securities laws. 
 Beneficiary acknowledges that these securities are made available to Beneficiary only on the condition that Beneficiary makes the
representations contained in this section to the Company. 
 Beneficiary has made a reasonable investigation of the affairs of the Company sufficient to be
well informed as to the rights and the value of these securities. 
 Beneficiary understands that the securities have not been registered under the
Securities Act of 1933, as amended, (the “Act”), or any applicable state law in reliance upon one or more specific exemptions contained in the Act and any applicable state law, which may include reliance on Rule 701 promulgated under the
Act, if available, or which may depend upon (i) Beneficiary’s bona fide investment intention in acquiring these securities; (ii) Beneficiary’s intention to hold these securities in compliance with federal and state securities
laws; and (iii) Beneficiary having no present intention of selling or transferring any part thereof in violation of applicable federal and state securities laws. 

The 2013 Plan has been drafted with the intent that each payment thereunder is exempt from Internal Revenue Code Section 409A and should be interpreted
accordingly. 
 The Company makes no representation as to the tax status of the 2013 Plan to the Beneficiary who should seek his or her own tax advice. 

  
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 Exhibit 1 

Allocation letter 

[Criteo letterhead ] 
  

			
	[Bénéficiaire]	  	
	[adresse]	  	On [—] 2013

 Letter [with acknowledgment of receipt requested / delivered by electronic delivery] 

[Madam/Sir], 
 We have the pleasure to inform you
that, pursuant to the authorization granted by the shareholders’ meeting held on August 2, 2013, the board of directors, during its meeting held on [—] (the “Grant Date”),
granted to you free shares of Criteo (the « Company »), under the terms and conditions provided for in articles L. 225-197-1 to L. 225-197-5 of the French commercial code and in the free share plan of Criteo (the
« Plan »). 
 The board of directors granted to you [—] ordinary
shares of the Company (the « Shares »), with a par value of EUR 0.025 each. 
 The period (named
« acquisition period »), provided for by French law, at the end of which the grant will become effective and final (i.e., the Shares will be issued to you and be your property), has been set at [four] years as from the
Grant Date[—]. 
 The Shares will thus be definitively acquired by you on [—] unless you shall cease to be an employee of the Criteo group for any reason whatsoever during the acquisition period. In the event of Disability (as defined under article 6.3. of the 2013 Plan) before
the end of the acquisition period, the free Shares shall be definitively acquired on the date of Disability. In the event of decease of during the acquisition period, the free Shares shall be definitively acquired at the date of the request of
allocation made by your beneficiaries in the framework of the inheritance. The request for allocation of the Shares shall be made within six (6) months from the date of the decease in compliance with Article L. 225-197-3 of the French
commercial code. 
 [only in case where the acquisition period is inferior to four years:] [At the end of the acquisition
period, the acquired shares will not be available during a period, also provided for by French law, that has been set at [two] years as from [—] (named « holding
period ») during which you will not be entitled to transfer or pledge them. Therefore you undertake not to transfer or pledge the shares during the holding period i.e. until [—].]

 The detailed terms of such grant as described in the Plan, a copy of which is attached hereto. 

  
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 Thank you for sending us a copy of the Plan duly initialled and signed not later than [date de
réception + 1 mois] 2013, failing which the above grant shall be null and void. 
 Yours sincerely, 

 

	
	  

	Benoît Fouilland
	Chief Financial Officer

  
 15 

 Exhibit 2 

Contractual Agreement 

  
 16EX-10.12

 Exhibit 10.12 
 Criteo 
 Indefinite-term Employment Agreement 

 
  
 Between the undersigned: 
 Criteo, a French société anonyme (corporation)
with stated capital of €362,160.15, registered with the Paris Trade and Companies Registry under number 484 786 249, whose registered office is located at 8 Boulevard des Capucines, 75009 Paris; 

Represented by Jean-Baptiste Rudelle, Chief Executive Officer 
 (Hereinafter, the “Company”) 
 Party of the first part; 

And 
 Benoît Fouilland, whose
address is ## #### #### ####, who holds French nationality and who is registered with Social Security under number # ## ## ## ### ### ##; 

(Hereinafter, the “employee”) 
 Party
of the second part. 
 Now, therefore, it has been agreed as follows: 
 Section 1-. EMPLOYMENT 
 1-1 The employee, who represents that he is free of all
commitments as of the effective date of this agreement, and that he is not bound by any covenant not to compete, is hereby hired for the position of Chief Financial Officer, subject to the results of the pre-employment medical examination.

 1-2. This agreement is governed by French law, the Engineering Firms, Consulting Engineering Firms and General Consultants National
Collective Bargaining Agreement (Convention Collective Nationale des Bureaux d’Etudes Techniques, Cabinets d’Ingénieurs Conseils et Sociétés de Conseils) (no. 1486 http://www.syntec.fr/content/view/10/16)
(hereinafter, the “Collective Bargaining Agreement”) and the specific provisions referred to below. 
 Section 2-. TERM AND
TERMINATION OF THE AGREEMENT 
 2-1. This agreement is entered into for an indefinite term as of March 1, 2012.

 2-2. However, it shall take effect permanently only at the conclusion of a probationary period of three months of actual work. 

By the parties’ mutual agreement, this probationary period may be extended for an additional three months. 

During this probationary period, either party may terminate this employment agreement by giving the prior notice required by law. 

In the event the Company terminates this agreement on any grounds other than gross negligence (faute lourde) during a period of six
(6) months as of the first day of actual work, Mr. Benoît Fouilland shall receive gross severance compensation of €270,000 (two hundred seventy thousand euros). 

  
 (2 sets of
initials) 
 8 Boulevard des Capucines, 75009 Paris, France – Tel. +33 (0)1 40 40 22 90 - Fax +33 (0)1 44 54 30 89

 A French société anonyme (corporation) with stated capital of €362,160.15 - Paris Trade and
Companies Registry no. 484 786 249 00058 

 Criteo 

 

 The nature of this compensation and the specific circumstances under which it was established enable
Mr. Benoît Fouilland to represent that the amount of this compensation: 
  

	•	 	 which was carefully established and reviewed by both parties, 

 

	•	 	 covers, on an all-inclusive and overall basis, all losses he may sustain in the event of the termination of his contractual relationship with Criteo
and, more broadly, all losses that he may incur due to a termination under the circumstances discussed in this section. 

2-3. Departure due to a change in the control of the Company 
 If within a period of six months following a change in the control of the Company, Mr. Benoît Fouilland is terminated at the Company’s initiative on any grounds other than gross
negligence, or if Mr. Benoît Fouilland decides to leave of his own initiative due to (i) a significant reduction in the scope of his duties and responsibilities or (ii) a unilateral reduction in his fixed compensation,
Mr. Benoît Fouilland shall receive gross severance compensation in an amount equal to one year’s total compensation, as defined in Section 5 below, including variable compensation calculated on the basis of a 100% achievement of
objectives. The nature of this compensation and the specific circumstances under which it was determined enable Mr. Benoît Fouilland to represent that the amount of this compensation: 

 

	•	 	 which was carefully established and reviewed by both parties, 

 

	•	 	 covers, on an all-inclusive and overall basis, all losses he may sustain in the event of the termination of his contractual relationship with Criteo
and, more broadly, all losses that he may incur due to a termination under the circumstances discussed in this section. 

 For
purposes of this section, “change of control” means any transaction, regardless of its terms, that results in (i) a takeover of the Company by another company that is not controlled by the shareholders who control the Company
immediately before such takeover is completed; (ii) a sale by one or more of the Company’s shareholders to one or more third parties of a number of shares that confers on such third party or parties more than 50% of the stated capital and
voting rights in the Company; or (iii) a sale of all or nearly all of the Company’s assets to a third party that is not controlled by the Company or its shareholders. 
 Section 3-. DUTIES 
 The employee shall have management status and hold the position of
Chief Financial Officer, which corresponds to position 3.3, hierarchical coefficient 270, of the Collective Bargaining Agreement. 
 Due to the nature of this position, the duties involved are subject to change in connection with the Company’s adaptation requirements and its needs. 

Section 4-. WORKPLACE 
 4-1. For
information purposes, the employee is advised that his customary workplace will be at the Company’s premises located at 8 Boulevard des Capucines, 75009 Paris. 
 The employee shall perform his duties at the Company’s principal office or at any other place where his presence is deemed necessary for the proper functioning of the Company. 

4.2 In light of the strategic nature of his duties, Mr. Benoît Fouilland shall be an integral part of the Company’s management committee.

 However, in light of the nature of the Company’s activities, the Company reserves the right, depending on its interests and needs, to
change the customary workplace of the members of its management committee. In such case, the Company reserves the right to change Mr. Benoît Fouilland’s workplace to another location in France, the United Kingdom or the United
States, without such change constituting an amendment to the employee’s employment agreement. 

  
 (2 sets of
initials) 
 8 Boulevard des Capucines, 75009 Paris, France – Tel. +33 (0)1 40 40 22 90 - Fax +33 (0)1 44 54 30 89

 A French société anonyme (corporation) with stated capital of €362,160.15 - Paris Trade and
Companies Registry no. 484 786 249 00058 

 Criteo 

 

 If Mr. Benoît Fouilland’s workplace is changed to a location outside the Ile de France
region, Mr. Benoît Fouilland shall be transferred subject to terms and conditions to be agreed upon beforehand by both parties. 

4-3. In addition, the employee’s duties may require him to perform assignments in France and/or abroad. In such case, the Company shall decide the
travel and accommodation conditions. 
 Section 5-. COMPENSATION 
 In consideration for his work, the employee shall receive gross annual compensation of €270,000 (two hundred seventy thousand euros), paid over 12 months, i.e., a gross salary of
€22,500 (twenty-two thousand five hundred euros) per month. 
 This compensation may be supplemented by variable bonuses in an
annual gross amount of €80,000 (eighty thousand euros) if 100% of objectives are achieved, which may in no event exceed the gross amount of €160,000 (one hundred sixty thousand euros) per year, i.e., if 200% of objectives are
achieved. 
 These variable bonuses are based on objectives tied to the performance of the Company and the employee, and will be established and
communicated to the employee by his superior. 
 Section 6-. WORKING TIME 
 In light of the duties the employee is appointed to perform and the autonomy he has in performing them, the employee is subject to an individual agreement providing for a fixed number of workdays per
year, in accordance with the provisions of the Engineering Firms collective bargaining agreement. 
 Pursuant to such agreement, and in
accordance with statutory provisions, the number of days to be worked is set at 218 workdays per year. 
 The number of days off to which the
employee will be entitled during a calendar year shall be determined and communicated each year by the Company. Days corresponding to work time reduction are acquired in proportion to the number of days actually worked during the year. 

Days off shall be taken as full days, unless an exception is expressly approved by the employee’s superiors. 

Furthermore, in agreement with his superiors, the employee may waive the right to take some of his days off. Such approval must be given in writing. The
total number of days worked during the year shall in no event exceed a maximum of 227 days. These additional days worked shall be compensated by a 10% salary increase. 
 Lastly, it is hereby reiterated that the employee has the autonomy necessary to perform his duties, in particular with respect to the manner in which he organizes his work schedule. 

Nevertheless, the Company intends to ensure that the employee complies with the applicable minimum daily and weekly rest periods and, therefore, prefers
that work be performed during the Company’s business days and hours. 
 The employee shall also comply with any procedure in effect within
the Company for summarizing, from time to time, the number of days worked and observance of daily and weekly rest periods. 

  
 (2 sets of
initials) 
 8 Boulevard des Capucines, 75009 Paris, France – Tel. +33 (0)1 40 40 22 90 - Fax +33 (0)1 44 54 30 89

 A French société anonyme (corporation) with stated capital of €362,160.15 - Paris Trade and
Companies Registry no. 484 786 249 00058 

 Criteo 

 

 Section 7-. PAID VACATION 
 The employee shall be entitled to paid vacation in accordance with the provisions of the French Labor Code (Code du Travail) and the Collective Bargaining Agreement. 

Section 8-. PROFESSIONAL OBLIGATIONS 

The employee shall comply with the provisions regulating working conditions applicable to all of the Company’s employees, as well as the general
rules concerning discipline and workplace safety, as they appear in the Company’s internal rules and regulations, which have been provided to him. 
 Section 9-. COPYRIGHT - WARRANTY 
 9-1. In accordance with Article L 113-9 of the
French Intellectual Property Code (Code de la Propriété Intellectuelle), the Company is the holder, from the outset, of the rights to software and to the documentation thereto that the employee creates in the performance of his
duties or pursuant to the Company’s instructions. 
 Accordingly, the employee shall assign to the Company, exclusively and permanently,
for the whole world and for the duration of the legal protection afforded to copyright, full title to: 
  

	•	 	 Software, IT developments and work of any kind, in particular web pages, HTML developments, both source codes and object codes, as well as the
documentation thereof, including, in particular, the preliminary design work, within the meaning of Article L 112-2 of the French Intellectual Property Code, as well as the specifications, preliminary studies, plans, models, functional and
organic analysis files, programming files, including interface specifications, technical documentation, use documentation and the user’s manual documenting all [work] performed other than in the performance of his duties using the
Company’s equipment or know-how (hereinafter, the “creations”). 

 In accordance with the provisions of
Articles L 122-6 and L 131-3 of the French Intellectual Property Code, the assignment includes all: 
  

	•	 	 The rights to reproduce and integrate the creations, in whole or in part, in any form, on all media, in particular, paper, magnetic, digital or any
other computer or electronic medium, whether known or unknown, existing now or in the future; 

  

	•	 	 The rights to present [the creations] using any broadcasting means, whether currently known or unknown, in particular, over any telecommunication,
internet or intranet network, or any means of telecommunication, including terrestrial, satellite or cable broadcasting; 

  

	•	 	 The rights to adapt, modify, decompile, translate into any language or programming language, arrange, correct errors, monitor, maintain, upgrade and
edit the creations; 

  

	•	 	 The rights to make available and distribute to the public, in any form, as well as the right to assign or license to any third party all or part of the
rights assigned. These rights include the rights to use [the creations], for consideration or free of charge, directly or indirectly, including initial marketing rights and the rights to lease and lend [the creations]. In accordance with the
provisions of Article L. 113-9 of the French Intellectual Property Code, the employee shall not be entitled to any additional compensation or payment in consideration for the statutory assignment of rights to the employer and, in the event the
assignment does not come within the aforementioned statutory framework, the price for this assignment is definitively included in the compensation that the employee receives for producing the creations. 

  
 (2 sets of
initials) 
 8 Boulevard des Capucines, 75009 Paris, France – Tel. +33 (0)1 40 40 22 90 - Fax +33 (0)1 44 54 30 89

 A French société anonyme (corporation) with stated capital of €362,160.15 - Paris Trade and
Companies Registry no. 484 786 249 00058 

 Criteo 

 

 9-2. Inventions produced by the employee will be governed by the provisions of Articles L 611-6 et seq.
and R. 611-1 et seq. of the French Intellectual Property Code, as well as the provisions of Articles 75 et seq. of the Collective Bargaining Agreement. In this respect, the employee acknowledges that, by their nature, the duties that he is appointed
to perform pursuant to this agreement include an inventive assignment. 
 9-3. The employee warrants the Company that he holds all intellectual
property rights in the creations and inventions assigned, that the creations and inventions do not constitute infringement and that entering into this agreement does not infringe the rights of any third parties. 

Consequently, the employee shall hold the Company harmless from any action, claim, demand or opposition by any person alleging an intellectual property
right, act of unfair competition and/or act of passing off concerning the creations and inventions assigned to the Company. 
 The employee
undertakes not to include in his creations and inventions any element borrowed from a preexisting creation without having first obtained the Company’s written approval, as well as the necessary authorizations from the right holders in the
creation(s) or invention(s). If the Company’s prior approval is not obtained, the author shall indemnify the Company for all claims based on demands of third parties concerning such borrowed elements and for all expenses or losses it may incur
as a result of such claims. 
 9-4. The employee shall cooperate with the Company, sign all instruments, including all reiterative instruments
(actes réitératifs), and carry out all formalities that may be necessary to perfect the assignments of rights provided for in this section. The employee acknowledges that this undertaking will survive the termination of his
employment agreement, regardless of the reason therefor. 

  
 (2 sets of
initials) 
 8 Boulevard des Capucines, 75009 Paris, France – Tel. +33 (0)1 40 40 22 90 - Fax +33 (0)1 44 54 30 89

 A French société anonyme (corporation) with stated capital of €362,160.15 - Paris Trade and
Companies Registry no. 484 786 249 00058 

 Criteo 

 

 Section 10-. EXCLUSIVITY - CONFIDENTIALITY 

10-1 The employee shall devote all of his time and provide all of his services to the Company and shall not, during the entire term of this agreement,
without the Company’s prior written approval, engage in any competing professional activity, whether or not remunerated, for his own account or on behalf of a third party. 
 10-2 In performing his duties, the employee will have access to confidential information, in particular commercial and/or financial information, in any format, concerning the Company or any of the
companies of its group. In order to provide reasonable protection to the Company’s interests and business, as well as to the businesses of the companies of its group, the employee shall not use or disclose such information, and shall maintain
the strictest confidentiality with respect to such information. 
 This undertaking to maintain confidentiality shall continue to apply after
the termination of the employee’s employment agreement and shall cease to be in force only if said information comes into the public domain without any unlawful disclosure by the employee. 

Section 11-. COVENANT NOT TO COMPETE 

11-1 In light of his duties as Chief Financial Officer, in the event of the termination of his employment contract, regardless of the reason therefor, the
employee shall not: 
  

	•	 	 Work, in any capacity, such as an employee, corporate officer, independent consultant, etc., for a company that develops and/or markets products that
compete with those of the Company, i.e., an advertising targeting or retargeting solution; 

  

	•	 	 Directly or indirectly acquire an interest, in any form, in a company of such type. 

This covenant not to compete shall be limited to a period of one year as of the date that the employee actually leaves the Company and covers France,
Great Britain and the United States. 
 11-2 In consideration for this covenant not to compete, the employee shall receive a gross monthly
payment in an amount equal to 33% of the average monthly salary received during the 12 months preceding the termination of the employment agreement, which shall be paid on the customary pay dates. This payment is considered a salary and, therefore,
is subject to social security contributions and other applicable social charges, which the employee hereby expressly acknowledges. 
 11-3 The
Company may waive the benefit of this covenant not to compete, provided it informs the employee within a period of 15 days following notice of the termination of the employment agreement by either party. In such case, no payment shall be owed during
such 15-day period. 

  
 (2 sets of
initials) 
 8 Boulevard des Capucines, 75009 Paris, France – Tel. +33 (0)1 40 40 22 90 - Fax +33 (0)1 44 54 30 89

 A French société anonyme (corporation) with stated capital of €362,160.15 - Paris Trade and
Companies Registry no. 484 786 249 00058 

 Criteo 

 

 Section 12-. PENALTY CLAUSE 
 In the event he breaches the covenant not to compete or the confidentiality clause, the employee shall owe the Company a penalty, which is set at a lump sum equal to six (6) months of his last fixed
gross monthly salary, without the need to give prior notice to cease the competitive activity or the breach of confidentiality. 
 This
compensation shall not release the employee from his contractual obligations until the expiration thereof. 
 Payment of the penalty shall not
deprive the Company of the right it hereby expressly reserves to obtain fair compensation for losses sustained, as well as an injunction prohibiting the competitive activity or the breach of confidentiality, subject to a fine for non-compliance.

 Section 13-. DUTY OF DISCRETION AND FAIR COMPETITION 
 Whether during the term of the employment agreement or after the termination thereof, regardless of the reason therefor, the employee undertakes to comply with his duty of discretion to the Company and,
therefore, shall not denigrate and/or cause injury to the Company’s image and interests, as well as to its shareholders, managers, employees and all partners, in any manner or in any form. 

Furthermore, the employee shall not directly or indirectly commit any acts that constitute unfair competition, including but not limited to: 

 

	•	 	 Denigrating the products, services or policies of the Company and, more broadly, any denigration that may harm the Company’s reputation;

  

	•	 	 Voluntarily creating confusion between the Company and any new employer (name or acronym that are nearly identical, use of distinctive signs, etc.);

  

	•	 	 Any act that may harm the Company’s organization, such as poaching the Company’s employees, stealing its customers, etc.

 The employee also undertakes not to encourage, attempt to encourage or assist any other person in encouraging or attempting
to encourage any of the Company’s customers or suppliers to terminate their work or business relationships with the Company. 
 In the
event the employee breaches this clause, the Company reserves the right to initiate legal action to obtain fair compensation for losses sustained, as well as an injunction prohibiting the acts of unfair competition, subject to a fine for
non-compliance. 
 Section 14-. RETIREMENT, DISABILITY AND LIFE INSURANCE 
 The employee agrees that the employee’s share of the contributions to the various disability insurance and supplemental retirement pension plans currently in effect, as well as for plans that may be
subsequently set up within the Company, may be withheld each month from his salary. 
 Solely for information purposes, the employee is hereby
informed that the Company’s employees are the beneficiaries of the following supplemental social protection plans: a supplemental retirement pension plan concluded with Mederic and a disability insurance plan concluded with Generali.

 The employee has been provided with a description of the benefits currently granted. 

In addition, the Company will pay for a life insurance policy covering Mr. Benoît Fouilland in accordance with the terms and conditions and
providing coverages equivalent to those set forth in Attachment 1 to this agreement. 

  
 (2 sets of
initials) 
 8 Boulevard des Capucines, 75009 Paris, France – Tel. +33 (0)1 40 40 22 90 - Fax +33 (0)1 44 54 30 89

 A French société anonyme (corporation) with stated capital of €362,160.15 - Paris Trade and
Companies Registry no. 484 786 249 00058 

 Criteo 

 

 Section 15-. STATUTE OF LIMITATIONS 
 In accordance with the provisions of Article 2254, paragraph 1, of the French Civil Code (Code Civil), and subject to any contrary legal provisions, the parties agree to reduce to one year the
statute of limitations for all actions arising from the conclusion, performance and termination of this employment agreement. 
 Executed in
Paris, on November 18, 2011  
 In two original counterparts 

 

			
	Benoît Fouilland	  	On behalf of the Company
	“Read and approved”	  	Jean-Baptiste Rudelle
	/s/ Benoît Fouilland	  	/s/ Jean-Baptiste Rudelle

  
 8 Boulevard
des Capucines, 75009 Paris, France – Tel. +33 (0)1 40 40 22 90 - Fax +33 (0)1 44 54 30 89 
 A French
société anonyme (corporation) with stated capital of €362,160.15 - Paris Trade and Companies Registry no. 484 786 249 00058 

 SAP 
 SUMMARY OF DEATH AND DISABILITY COVERAGES – ALL EMPLOYEES 
 1 – PLAN OPTIONS

  

					
	 COVERAGES
	  	 COVERAGE AMOUNTS

			
	Death or TILA - all causes	  	OPTION 1	  	OPTION 2
	 •     Single, widowed, divorced, separated with no dependent children
	  	350% RS	  	350% RS
	 •     Married or in domestic partnership with no dependent children
	  	400% RS	  	400% RS
	 •     Single, widowed, divorced, separated with a dependent child
	  	400% RS	  	500% RS
	 •     Married or in domestic partnership with one dependent child
	  	400% RS	  	500% RS
	 •     Increase for each additional dependent child
	  	60% RS	  	100% RS
			
	 Educational Benefit

Payment of a temporary annual benefit equal to:
	  		  	
	 •     until [the child’s] 11th birthday
	  	20% RS	  	12% RS
	 •     from [the child’s] 11th to 19th birthdays
	  	25% RS	  	15% RS
	 •     from [the child’s] 19th to 26th birthdays
	  	30% RS	  	18% RS
			
	Accidental Death or TILA	  		  	
	 •     Single, widowed, divorced, separated with no dependent children
	  	350% RS	  	350% RS
	 •     Married or in domestic partnership with no dependent children
	  	400% RS	  	400% RS
	 •     Single, widowed, divorced, separated with a dependent child
	  	400% RS	  	500% RS
	 •     Married or in domestic partnership with one dependent child
	  	400% RS	  	500% RS
	 •     Increase for each additional dependent child
	  	60% RS	  	100% RS
		
	 Double indemnity (Subsequent or simultaneous death of spouse)
 Payment of an annual educational benefit equal to:
	  	Twice the amount of the above educational benefits
		
	 Benefit in the event the insured’s spouse predeceases
 Payment of an annual educational benefit equal to:
	  	The educational benefits provided under option 2
		
	 Funeral expenses
 In the
event of the death of the insured, his/her spouse, his/her domestic partner or a minor dependent child, payment of a benefit equal to:
	  	100% MSSC
		
	 Temporary Employment Disability
 Waiting period
 Amount (less Social Security benefits)
	  	 90 continuous days
 100% RS

		
	 Permanent Disability

Annual payment, less Social Security benefits, equal to:
 •     Categories 2 and 3
	  	100% RS
	 •     Category 1
	  	60% RS

 MSSC: Monthly Social Security Ceiling (€2,885 as of 1/1/2010) 

The coverages described above will in no event be less than the SYNTEC benefits listed below: 

 

	•	 	 Death benefit: 340% of the Annual Social Security Ceiling (ASSC) for all employees 

 

	•	 	 Educational Benefit: as a percentage of the ASSC: 

  

	 	•	 	 Until [the child’s] 18th birthday: 24% 

  

	 	•	 	 From [the child’s] 18th to 26th birthdays (if he/she pursues higher education): 30% 

2 - DEFINITIONS 
  

	•	 	 RS: 

 The gross
annual Reference Salary is divided into three levels: 
  

	 	•	 	 Level A of annual compensation is limited to the annual Social Security ceiling (€34,620 as of 1/1/2010); 

  

			
		  	(2 sets of initials)
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 SAP 

 

	 	•	 	 Level B of annual compensation is between one and four times the annual Social Security ceiling (€138,480 as of 1/1/2010);

  

	 	•	 	 Level C of annual compensation is between four and eight times the annual Social Security ceiling (€276,960 as of 1/1/2010).

  

	•	 	 Total and Irreversible Loss of Autonomy (TILA): 

 The insured will be recognized as suffering from a total and irreversible loss of autonomy if, following an accident or illness, the following two conditions are met: it is absolutely impossible for the
insured to exercise an occupation or perform work that provides him/her with any gain or profit and such impossibility is assumed to be permanent, and Social Security recognizes that he/she requires the assistance of a third person to carry out
everyday acts of life. 
  

	•	 	 Disability categories: 

  

	 	•	 	 Category 1: the disabled person is able to perform a remunerated activity 

 

	 	•	 	 Category 2: the disabled person is absolutely unable to exercise any profession whatsoever 

 

	 	•	 	 Category 3: the disabled person is absolutely unable to exercise any profession whatsoever and, furthermore, requires the assistance of a third
person to carry out everyday acts of life. 

  

	•	 	 Educational Benefit: 

A benefit paid to dependent children until their majority, or until their 26th birthday if they pursue higher education. 

 

	•	 	 Accident: 

“Accident” means any bodily injury that is caused by an external, sudden and unforeseen event. Events that totally or partially have a
pathological cause, in particular illnesses, including violent illnesses, lesions of any type and epidemics cannot, therefore, be considered accidents. 
 3 – COVERAGES IN THE EVENT OF DEATH 
  

	•	 	 Concretely, in the event of my death, how much will my beneficiaries receive? (indicative example not contractually binding)

 My personal situation: I am married and have two dependent children who are respectively 8 and 13 years old. My gross
annual salary is €25,000. 
 In the event of my death, regardless of the cause, my spouse and children (designated as beneficiaries of the
policy) will receive the following benefits. 
  

	 	•	 	 If I chose option 1 at the time of my subscription, the death benefit will total €115,000 (400% + 60% of €25,000) +
an annual educational benefit per child of: 

  

	 	•	 	 €5,000 from the ages of 8 to 10, inclusive (20% of €25,000); 

 

	 	•	 	 €6,250 from the ages of 11 to 18, inclusive (25% of €25,000); 

 

	 	•	 	 €7,500 from the ages of 19 to 25, inclusive, if the child pursues higher education (30% of €7,500). 

NB: In the event of accidental death, an additional death benefit of €115,000 will be paid
(400% + 60% of €25,000). 
  

	 	•	 	 If I chose option 2 at the time of my subscription, the death benefit will total €150,000 (500% + 100% of €25,000) +
an annual educational benefit per child of: 

  

	 	•	 	 €3,000 from the ages of 8 to 10, inclusive (12% of €25,000); 

 

	 	•	 	 €3,750 from the ages of 11 to 18, inclusive (15% of €25,000); 

 

	 	•	 	 €4,500 from the ages of 19 to 25, inclusive, if the child pursues higher education (18% of €7,500). 

NB: In the event of accidental death, an additional death benefit of €150,000 will be paid. 

  

			
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 SAP 

 

	•	 	 Taxation of benefits 

Amounts paid as death benefits are not included in the decedent’s estate and, therefore, are not subject to inheritance taxes. 

4 – CHOICE OF OPTION 
 In the event
of the insured’s death, the Insurer will pay the designated beneficiaries the benefits summarized in this document and defined in the policy and information notice, depending on the option the insured selected at the time of his/her membership.

 The member must select an option at the time he/she takes out the insurance. That choice may be modified: 

 

	•	 	 On January 1 of each year by sending HR, before October 1, a new form selecting the new option. 

 

	•	 	 At any time, if there is a change in the insured’s family situation. Such change will take effect on the first day of the month following the
request, as evidenced by the postmark. 

 In any event, if the insured does not select an option, option 2 will apply.

  

			
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