Employee profit-sharing. The Corporation recognizes a liability and an expense for employee profit-sharing in the Corporation’s income. This benefit is calculated based on 15% of net income in accordance with current legislation.
Employee profit-sharing. The Absorbing Company undertakes to substitute itself to the Absorbed Company for the application of Articles L. 3321-1 and following of the French Labor Code relating to the participation in the company's results for the participation rights of the employees acquired at the Completion Date. The Absorbing Company undertakes to record in its balance sheet the special profit-sharing reserve corresponding to the employees' rights that will be transferred to it in the context of the Merger.
