Cap Cite: AXA Facilitates Community Service For Employees
September 17 2008 - 5:16AM
PR Newswire (US)
PARIS, Sept. 17 /PRNewswire-FirstCall/ -- In December 2005, AXA
announced that it had entered into an agreement with the Group's
union representatives (the RSG agreement) whose aim was to help
employees who wanted to carry out a personal project. Today, this
agreement is being supplemented by an additional clause that
extends the notion of a personal project: AXA promises to help
employees who want to carry out a personal project that is in the
public interest. The notion of a public interest project
encompasses: -- participating in one or more long-term
international solidarity projects -- serving in one more or elected
positions of local, regional, nationwide or global scope
(municipal, regional, national European government or parliament,
etc.) -- serving in an appointed capacity (ministerial commission,
regional or national economic and social council, etc.) --
occupying a training or teaching position at the national or
international level. Cap Cite offers a novel approach to community
service based on the dual-volunteer principle - on the part of the
employee and his or her employer. Accordingly, while the employee
is suspended from his or her job for the duration, the contractual
link with the organization is maintained throughout. Personal leave
is granted for an initial period of two years, and may be renewed
for a total of up to ten years. At the time he or she leaves to
carry out the personal project, the employee must satisfy two
conditions, age and service related. That is, he or she must be at
least 45 years of age and have 17 years of prior service with the
company. The service condition is calculated on a sliding scale
after 45 - for example, if the employee is 50 years of age, the
service requirement is lowered to twelve years, and so on.
Throughout the term of his or her project, the employee does not
receive a salary from the company. However, a number of employee
benefits are maintained. Once the project is completed, the
employee may choose to end his or her employment contract or return
to occupy a position that is equivalent to the one held before
departure. "Through Cap Cite, AXA seeks to facilitate the personal
investment of its employees in the community through local elective
office, educational initiatives or a more or less long-term
commitment to humanitarian actions. With the assurance that they
will have a job waiting when they return to AXA, AXA employees will
be encouraged to put their generosity and desire to work for the
community as a whole. This innovative measure addresses our desire
to make AXA an employer of choice," noted Henri de Castries,
Chairman of the AXA Management Board. About the AXA Group The AXA
Group is a worldwide leader in Financial Protection. AXA's
operations are diverse geographically, with major operations in
Europe, North America and the Asia/Pacific area. For full year
2007, IFRS revenues amounted to Euro 93.6 billion and IFRS adjusted
earnings to Euro 6.1 billion. The AXA ordinary share is listed on
compartment A of Euronext Paris under the ticker symbol CS (ISIN
FR0000120628 - Bloomberg: CS FP - Reuters: AXAF.PA). The American
Depository Share is also listed on the NYSE under the ticker symbol
AXA. About AXA France AXA France supports its 9 million
clients-individuals, professionals and businesses - at every step
in their life, by offering customized solutions and advice. AXA
France offers them a complete range of products and services, from
the protection of their property and loved ones to their personal
assets and estate, not to mention savings, banking services,
employee benefits, personal protection and services such as
assistance and legal expense. With revenues of 22 billion euros and
underlying earnings of 931 million euros in 2007, AXA France
confirms its financial strength. This press release is available on
the AXA Group website: http://www.axa.com/ AXA France media
relations Valerie Leselbaum : 01 47 74 32 21 - Gerard Narbey: 01 47
74 16 67 - AXA Group media relations Christophe Dufraux: +33 1
40.75.46.74 - Laurent Secheret: +33 1 40 75 48 17 - Armelle
Vercken: +33 1 40 75 46 42 - DATASOURCE: AXA Group CONTACT: Valerie
Leselbaum, 01-47-74-32-21, , Gerard Narbey, 01-47-74-16-67, , both
of AXA France; Christophe Dufraux, +33-1-40-75-46-74, , Laurent
Secheret, +33-1-40-75-48-17, , Armelle Vercken, +33-1-40-75-46-42,
, all of AXA Group Web site: http://www.axa.com/
http://www.axa-equitable.com/
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