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Where such a request is not made, in accordance with the law, the amounts in the profit-sharing reserve are invested in corporate mutual funds, with half allocated to the Group Retirement Savings Plan (PERCO) and the other half to the Corporate Savings Plan (PEEG). In order to qualify for tax and social security exemptions, the amounts allocated to the Group Retirement Savings Plan are locked up until the employee retires and amounts allocated to the Corporate Savings Plan are locked up for a period of five years.

In 2012, just over 37% of employees allocated all or part of their profit-share to the Accor Group Retirement Plan.

Lastly, in 2012, in agreement with employee representatives, the Board of Directors authorized the payment of an additional €5 million in profit-shares for 2011, allocated among employees covered by the Group-level non-discretionary profit-sharing agreement in France.

Transactions involving Accor SA shares

Discretionary profit-sharing

Due to the Group’s organization structure and compensation policy, a large number of discretionary profit-sharing agreements have been negotiated at the level of Accor SA, its subsidiaries and the operating units.

These profit-shares are determined based on whether the subsidiary or unit concerned meets or exceeds its profit targets. In the case of Accor SA, the amount is dependent partly on meeting objectives for reducing support costs and partly on achieving EBIT targets.

The calculation method is based on quantitative criteria specified in each agreement. The amounts vary from year to year and are capped.

Discretionary profit-sharing agreements are negotiated with Works Councils or union representatives.

Schedule of transactions involving shares of the Company carried out during the past fiscal year, within the meaning of Article L. 621-18-2 of the French Monetary and Financial Code

Person concerned Type of transaction Number of shares

Paul Dubrule Sale of shares 46,906

GĂ©rard PĂ©lisson Sale of shares 97,657