As of 2014, the SIC contribution will increase to %, capped at 48times average monthly wage per year (CZK 1,242,432 for 2013)

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1 Country Mandatory Social Security Mandatory Health Insurance (or other type if applicable) Austria 21,83% 18,07% 18,5% retirement pension ; 8,48 per month accident insurane; 7,65% health Belgium 35% of gross salary (uncapped) 13,07% of gross salary (uncapped) 22% on first part of indexed net taxable income of 3 years ago < ,04 EUR; 14,16% on second part of indexed net taxable income of 3 years ago with cap at ,49. Contributions to be increased with approx. 5% commission tax for social fund. Contributions are capped at approx ,00/year (incl. commission tax) 3,83% (included in SS) 3,82% (included in SS) soc. sec. soc. sec. 7,65% Gross income capped at (2013) per year [employees: 4440 per month for recurring payments; 8880 for non recurring payments]; marginal limit 386,80 (2013) soc. sec. For employer and employee contributions: total gross salary, uncapped (some elements/benefits are exempt from contributions); for self-employed workers: indexed net taxable income of 3 years ago Bulgaria 13%-13.7% 9,7% 17,8% 4,8% 3,2% 8,0% For employees - the gross income but not less than the minimum monthly insurable thresholds per principal economic activities and occupation groups and not more than the maximum insurable cap of BGN 2,200 / EUR 1,125 per month. Croatia 15,20% 20% up to HRK 47,202 per month Cyprus 10.5% - Broken down as follows: Capped (Please see column H - Base for SS) Social Insurance Contribution (SIC): 6.8% Redundancy Fund: 1.2% Industrial Training Fund: 0.5% Uncapped: Social Cohesion Fund: 2% 6.8% - Capped - please see Base for SS (column H) As of 2014, the SIC contribution will increase to 7.8%. 20% out of salary 13,5% on top of salary 12.6% As of 2014, the SIC contribution will increase to 13.6%. 13,0% N/A 13,0% Gross income For self-employed - the gross income less 25% statutory deduction for expenses, but not less than the minimum monthly insurable threshold of BGN 420 / EUR 215 per month and not more than the maximum insurable cap of BGN 2,200 / EUR 1,125 per month. N/A N/A N/A Upper limit on the Gross income where SS contributions apply: For weekly paid employees: 1,046 per week (from 7/1/2013) and 54,392 per annum For monthly paid employees: 4,533 per month and 54,396 per annum. Contributions for self employeed individuals depends on the ocupational category with lower and upper weekly limits of gross incomes. As of 2014, the SIC contribution will increase to 7.8%. Czech Republic 25 %, capped at 48times average monthly wage per year (CZK 1,242,432 for 2013) 6.5 %, capped at 48times average monthly wage per year (CZK 1,242,432 for 2013) 29.2 %, capped at 48times average monthly wage per year (CZK 1,242,432 for 2013) 9 %, no cap 4.5 %, no cap 13.5 %, no cap Employees: gross income; self-employed: 50 % of the tax base, i.e. difference between income and expenses (respecting the statutory minimum amounts; might be increased voluntarily for the social security, up to the statutory cap) Denmark The employer social security contribution is a fixed amount of approx. 1,610 EUR per year The employee contribution is a fixed amount of approx. 145 EUR per year N/A. No social security contributions. Therefore privates s/pension schemes necessary. N/A N/A N/A N/A Estonia Social tax 33% (comprising 20% pension part and 13% health ), no cap. Unemployment contribution 1%. Unemployment contribution 2%. Funded pension contribution 2% for the persons under the obligation. Social tax 33%, taxable base capped up to an amount equal to 15 official minimum monthly salaries (the minimum monthly salary is EUR 320 for 2013). The minimum social tax obligation which has to be paid as advance payments once in a quarter is at least 3 times the monthly rate of social tax established in the state budget (the monthly rate of social tax for 2013 is EUR 290, so the minimum social tax obligation for 2013 is (290*3*33%)*4=1148,40). Funded pension contribution 2% for the persons under the obligation. No distinction is made between social and social security in Estonia. The pension and healt schemes are contributory social security schemes that are financed principally by the social tax. Please see column B and D. N/A N/A = gross income

2 Country Mandatory Social Security Mandatory Health Insurance (or other type if applicable) Finland France Germany - Employer s social security charge for all employers: 2.04% (no cap) (From the beginning of the year 2011 the payment is not charged for the salary income which has been paid to an employee under 16 years of age or over 68 years of age.) - Employer s pension contribution: 17.35% (on average, no cap) - Employer s unemployment contribution: 0.8% / 3.2% according to paid salaries exceeding 1,990,500 EUR (no cap) - Group life premium: 0.07% (on average, no cap) - Accident premium: ranges between 0.3% 4% (0,9% on average, no cap) Vary on the size of the company and its activity. Average of 45%. Can reach 50%. pension : 9,45%; unemployment : 1,5 %. Furthermore, accident and apportionment contributions are due. The pension and unemployment contributions apply up to an annual salary of EUR ,00 (upper income limit for former West Germany). Greece 22,36% (SSC are calculated up until the gross monthly salary of 5.543,55 EUR) - Employee s pension contribution: 5.15% / 6.5% used for employees of age 53 or over (no cap) - Employee s unemployment contribution: 0.60% (no cap) - Employee s health contribution: 2.04% (no cap) Vary on the size of the company and its activity and on the level of the salary. It generally ranges between 20% and 22%. pension : 9,45%; unemployment : 1,5 % The pension and unemployment contributions apply up to an annual salary of EUR ,00 (upper income limit for former West Germany). 13,95% (SSC are calculated up until the gross monthly salary of 5.543,55 EUR) About 30% (health,matertiny,csg/crds,basic pension). For complementary pension and invalidity/death, rates depend on the activity performed. N/A social security contributions. n/a (please also see addtional comments) health : 7,3 % ; long-term nursing care : 1,025%. The health and long-term nursing care contributions apply up to an annual salary of EUR ,00 (upper incomer limit). According to local legislation, self employed people are responsible for paying themselves their social security contributions to the Social Security Fund (SSF is defined by their profession or business) 5,1% (SSC are calculated up until the gross monthly salary of 5.543,55 EUR) - Employee s health contribution: 2.04% (no cap) Health contribution (2.04%) consists of two parts, contribution for daily allowance 0.74% and contribution for medical care 1.3%. social security contributions. health : 8,2 %; long-term nursing care : 1,025%. The health and long-term nursing care contributions apply up to an annual salary of EUR ,00 (upper incomer limit). 2,55% (SSC are calculated up until the gross monthly salary of 5.543,55 EUR) social security contributions. health : 14,9%; longterm nursing care : 2,05%. The health and long-term nursing care contributions apply up to an annual salary of EUR ,00 (upper incomer limit). According to local legislation, self employed people are responsible for paying themselves their social security contributions to the Social Security Fund (SSF is defined by their profession or business) Gross income. However, please note that there are several exemptions when some or all employer s and employee s contributions are not payable on certain taxable benefits. Gross income + benefits in kind Employee's gross employment income (limited to the upper income limit for contributions) Gross income up to 5.543,55 EUR per month. (monthly cap) Hungary 27% + 1.5% training fund contribution (uncapped) 18.5% uncapped 28.5%+18.5%* n/a n/a n/a Generally the base of social security is the individual's gross income taxable, but in case of individual taxable in other country, the social security base is different. Ireland 10,75% 4,00% 4,00% n/a n/a n/a The base for social security is the individual's gross remuneration.

3 Country Mandatory Social Security Mandatory Health Insurance (or other type if applicable) Italy 29,86% 9,49% ( cap equal to ) 27,72% (cap equal to ) for managers/high level employees a private health is usually applied (fixed 2.916,00) for managers/ high level employees a private health is usually applied (fixed 880) Latvia 24,09% 11,00% 32,17% n/a n/a n/a For social security = gross income Lithuania 27.98% (uncapped) 3% (uncapped) 28.5% (capped - the base for calculation of SS/HI for the month cannot exceed 4 insured income levels - 4 * 1,488 LTL) 3% (uncapped) 6% (uncapped) n/a 9% (capped - the base for calculation of SS/ HI for the month cannot exceed 4 insured income levels - 4 * 1,488 LTL) Generally the base of social security is the individual's gross income taxable For employees - gross employment related income. For persons performing individual activities - 50% of taxable income. Taxable income is calculated by reducing 1) the amount of income by 30% or 2) the amount of income by the actual amount of expenses incurred provided that provide documents are present. Luxembourg 12,43 % / 14,90% 12,20 % / 12,45 % 25,02 % / 27,24 % n/a n/a n/a Employment: Gross annual remuneration both in cash and in kind capped to the annual social security ceiling of EUR ,28 as at 1st January 2013 Malta 10% of basic weekly wage subject to cap of Eur339.05/weekly wage for persons born before and Eur403.16/weekly wage for persons born after % of basic weekly wage subject to cap of Eur339.05/ weekly wage for persons born before and Eur403.16/weekly wage for persons born after Netherlands salary capped at EUR 50,853 (employee s) salary capped at EUR 33,363 (national s) 15% of net profit for year subject to cap of maximum profit for year of Eur17,630 for persons born before and maximum profit for yer of Eur20,965 for persons born after salary capped at EUR 33,363 (national s) Disability benefit general contribution 4,65% State pension 17,90% State old age pension 17,90% Disability benefit industry contribution 0,52% (average percentage) Unemployment benefit general contribution 1,7% Unemployment benefit industry contribution 2,76% (average percentage) State pension for surviving dependants 0,60% Exceptional medical expenses coverage 12,65% State pension for surviving dependants 0,60% Exceptional medical expenses coverage 12,65% None - Health Insurance covered by Social Security payments 7,75% (salary capped at EUR 50,853) Norway 14,1 % (uncapped) 7,8 % (uncapped) 11 % (uncapped) Mandatory occupational injury. Premium depending on occupation. Mandatory occupational pension plan: 2% Poland 16.26% up to PLN 111, % up to PLN 111,390 Contributions are due on a self-declared The minimum contributions for 2013 equal to approximately 765 PLN / 179 EUR per month (and can decrease to 208 PLN / 49 EUR in case of individuals only starting their self-employment during the first 2 years) None - Health Insurance covered by Social Security payments Approximately EUR n/a 9% (uncapped) None - Health Insurance covered by Social Security payments Approximately EUR Contributions are due on a selfdeclared The minimum contributions for 2013 equal to approximately 262 PLN / 61 EUR per month. Self-employment: Net business profit as determined for income tax purposes capped to the annual social security ceiling of EUR ,28 as at 1st January 2013 Basic weekly wage capped for employees and net profit for year for selfemployed also capped Gross salary Gross employment related income For social security = gross income 3.22% % (uncapped) 2.45% (uncapped) For health = gross income decreased by employee's social security contributions

4 Country Mandatory Social Security Mandatory Health Insurance (or other type if applicable) Portugal 23,75% 11,00% 29,60% n/a n/a n/a Employer / Employees: contributions are uncapped and calculated as a percentage of an employee's gross remuneration. The applicable rates are 23.75% for the employer and 11% for the employee. In general terms, all remuneration items that qualify as remuneration under the terms of the Portuguese Labour Law are subject to Portuguese social security contributions. Romania pension: 20.8%/25,8%/30,8% up to RON 2,312/ RON 2,868/ RON 3,423 pension: 10.5% (capped at RON 1,167) unemployment: 0.5% uncapped unemployment: 0.5% uncapped accidents fund: 0.15% % uncapped x x salary guarantee fund: 0.25% x x vacation & medical leave: 0.85% up to RON 76.5 x x Slovakia 24.4% up to EUR 3,930 (monthly cap) + 0.8% uncapped Slovenia 16,1% (uncapped) - Please note that as of an employer concluding an employment contract for indefinite time is not liable to pay employer social security contributions for unemployment for two years (rate of SSC of the employer for unemployment is 0,06%), while employer concluding an employment contract for definite time is liable to pay employer social security contributions for unemployment in the five times of prescribed amount of such contribution. 9.4% up to EUR 3,930 (monthly cap) 31.3%; the pension contribution base can be chosen by the individual - minimum contribution is 244 RON and is capped at RON 3,479/month x 22,1% (uncapped) Both employer and employee SSC are paid by the selfemployed person (38,2%). 5.2% uncapped 5.5% uncapped 10% up to EUR 3,930 (monthly cap) 6,56%+0,53% for professional illnesses (uncapped, included in the SSC) 4% up to EUR 3,930 (monthly cap) 6,36% (uncapped, included in the SSC) Self-employees: the social security rates apply on a monthly basis on an amount determined by the Authorities based on the gross income reported for tax purposes in the previous tax year equal to between 1 and 12 times the IAS ( Indexante dos Apoios Sociais ), i.e. 12 x 419,22. = 5.030, % uncapped Salary: gross income both for social security and health 6,56%+6,36% of base Self-employed: gross income less deductibe expenses; the pension contribution base can be chosen by the individual - minimum contribution is 244 RON and is capped at RON 3,479/month Gross income - capped Salary or salary compensation and all other income from the employment relationship, including bonuses and benefits in kind. Reimbursement of expenses in connection with the work paid in cash, holiday allowance, jubilee awards and severance payments are exempt up to certain amounts and under certain conditions. For assigned workers only part of the salary for equal work in Slovenia is subject to social security contributions, part of the salary for working abroad is exempt (this applies to salary only). For self-employed individuals SSC are paid from the prescribed base depending on the profit of the self-employed person in the previous fiscal year. The minimum basis for 2013 and 2014 is the minimum wage, in 2015 the minimum base is 54% of the last published average annual salary in Republic of Slovenia and after 2015 it increases every year by 2 percentage points until it reaches the amount of 60% of the last published average annual salary in Republic of Slovenia in The maximum basis is 3,5 of average Slovene wage. Legal changes are expected in this regard.

5 Country Mandatory Social Security Mandatory Health Insurance (or other type if applicable) Spain Common benefits: 23,60% Salary Guarantee Fund: (FOGASA):0,20% Professional training 0,60% Unemployment: 5,50% The Company should pay for professional accidents and illness purposes. Such contribution rate will depend on the Company s activity. Common benefits: 4,70% Salary Guarantee Fund: (FOGASA) N/A Professional training: 0,10% Unemployment: 1,55% The Company should pay for professional accidents and illness purposes. Such contribution rate will depend on the Company s activity. Common benefits + Temporary disability:29,90% Common benefits + Temporary disability + Stoppage of activity protection scheme + accidents at work and occupational diseases:31,5%* *In this case the accidents at work and occupational diseases rate would need to be added, such rate would depend on the field of activity of the individual N/A N/A N/A Employee: You should initially bear in mind that Social Security costs are calculated as a percentage of the total remuneration paid to the employee. Nevertheless, for the purpose of calculating Social Security contributions due on a monthly basis, there are minimum and maximum contribution bases; the minimum contributions bases differ according to the Social Security contribution group of the employees, whereas there is only one maximum base for all contribution groups, as set forth in the charts below (i.e. all amounts correspond to employees under the General Employment Regime as opposed to the Self Employment or Assimilated Regime. Also, all figures are those foreseen for 2013 year and calculated in Euros): Contribution Group Minimum Maximum , , , , , , , , , , , , , ,70 Sweden % uncapped n/a % uncapped n/a (included as part of social security) United Kingdom Russia China - Beijing - below 148 a week: 0% - above a week: 13.8% - if contracted out of the State Second Pension: - below 148 a week: 0% a week: 10.4% - above a week: 13.8%. Employers also pay Class 1A NIC on any benefits provided to employees by reason of employment that are taxable in the UK as general earnings at 13.8%. Employers may also pay Class 1B NIC on the value of any minor benefits and tax thereon returned to HMRC as part of a PAYE Settlement Agreement (PSA) again at 13.8% 30% rate on remuneration under the threshold of RUB 568,000 for 2013 (where: 22% - pension, 5.1% - medical, 2.9% - social ). Extra 10% of pension contribution are payable on income exceeding annual cap. In addition, Accident Insurance Contributions are payable at rates ranging from 0.2% to 8.5% depending on the degree of risk in the occupation. Basic Pension-20% Unemployment Insurance-1% Work-related Injury Insurance-0.5%-2% Maternity Insurance-0.8% - below 149 a week: 0% a week: 12 %, (if contracted out of the State Second Pension: 10.6%) - over 797a week: 2%. Currently Class 2 and Class 4 NI contributions are payable: - Class 2: 2.70 a week if the profit per year is above 5,725 (or if person chooses to pay) - Class 4: annual profits between 7,755 and 41,450: 9% on profit over 41,450: 2%* Class 4 profits as for tax i.e. certain expenses can be deducted in arriving at profit levels n/a Mandatory pension : fixed amount for RUB 32, (approximately EUR 750). Mandatory medical : fixed amount for RUB 3, (approximately EUR 74). Basic Pension-8% Unemployment Insurance-0.2% Work-related Injury Insurance-NA Maternity Insurance-NA No witholding agent for social security, contribution could be made on voluntary n/a (included as part of social security) n/a (included as part of social security) Self- Employed: Regarding the calculation of social security contributions by Self-employed individual, it is important to stress that the individual is the one to choose his contribution base within the legally established limits. The bases are the following: Minimum: 858,60 Maximum: 3.425,70 Total gross compensation including salary, benefits etc is basis for social security charges due. N/A N/A N/A Gross earnings from the employment/employments concerned including cash, allowances, bonus certain equity awards, reimbursement of non qualifying expenses and the meeting of pecuniary liabilities (personal debts) e.g. taxes which should be engrossed if part of equalisation or protectoion policy 5.1% - medical capped by remuneration of RUB 568,000 (for 2013) 10% n/a 2%+RMB3 Fixed amount for RUB 3, (approximately EUR 74) - medical No witholding agent for social security, contribution could be made on voluntary Gross income Monthly base salary with bottom and upper limit. The upper limit base: RMB 15,669; The bottom limit base: RMB3,134 (Basic Medical& Work-related injury& Maternity Inusrance); The bottom limit base: RMB2,089 (Basic pension& Unpmployment Inusrance)

6 Country Mandatory Social Security Mandatory Health Insurance (or other type if applicable) China - Schenzen China - Tianjin Malaysia (Note 1) Basic Pension: 14% (for Shenzhen householders)/13% (for non-shenzhen householders, e.g. expatriates) Unemployment Insurance: 2% Work-related Injury Insurance: 0.4% - 1.2% Maternity Insurance: a) 0.5% for comprehensive treatment; b) 0.2% for hospitalization treatment. Basic Pension-20% Unemployment Insurance-2% Work-related Injury Insurance-0.5%-2% Maternity Insurance-0.8% Employees below 55 years of age 13% (for wages RM5,000 and below); 12% (for wages more than RM5,000). There is no cap for the employer contribution to the EPF but there is a limit up to 19% for corporate tax deduction purposes. Basic Pension: 8% Unemployment Insurance: 1% Work-related Injury Insurance: N/A Maternity Insurance: N/A Basic Pension-8% Unemployment Insurance-1% Work-related Injury Insurance-NA Maternity Insurance-NA Employees below 55 years of age 11% Employees between years of age 5.5% No witholding agent for social security, contribution could be made on voluntary No witholding agent for social security, contribution could be made on voluntary EPF contribution is not for self-employed. They can opt for voluntary contribution and the mininum contribution is RM50 per month and capped at RM60,000 per year. a) 6.5% for comprehensive treatment; b) 0.6% for hospitalization treatment. (Note*: a) comprehensive treatment generally apply to Shenzhen householders; while for non-shenzhen householders(e.g. expatriates), the employer can choose either comprehensive or hospitalization treatment.) 10% a) 2% for comprehensive treatment; b) 0.2% for hospitalization treatment. (see Note* in E41) 2% No witholding agent for social security, contribution could be made on voluntary No witholding agent for social security, contribution could be made on voluntary Monthly social security contribution base is subject to a lower and upper limit, or with a fixed base. The upper limit base: RMB14,754 (Basic Pension & Work-related injury & a) Medical Insurance & a)maternity Insurance) The lower limit base: RMB1,600 (Basic Pension & Work-related injury); / RMB2,951 (a)medical Insurance & a)maternity Insurance) The fixed base: RMB4,918 (b)medical Insurance & b)maternity Insurance) / RMB1,600 (Unemployment Insurance) Monthly base salary with bottom and upper limit. NA NA NA The base for Malaysian EPF contribution will be all payments or wages subject to contribution. Wages means all remuneration in money, due to an employee under his contract of service or apprenticeship whether agreed to be paid monthly, weekly, daily or otherwise and includes any bonus, commission or allowance payable by the employer to the employee whether such bonus, commission or allowance is payable under his contract of service, apprenticeship or otherwise, but does not include-- Employees between years of age 6.5% (wages RM5,000 and below) 6.0% (wages more than RM5,000) (a) service charge; (b) overtime payment; (c) gratuity; (d) retirement benefit; (e) retrenchment, lay-off or termination benefits; (f) any travelling allowance or the value of any travelling concession; or (g) any other remuneration or payment as may be exempted by the Minister. Brazil Ukraine Depending on the class of professional risk of the employer's activity this rate may vary from 36,3% to 49,7% 3.6% 2.6% - 3.6% n/a n/a n/a Base for SS is caped at 17 minimal cost of livings. Minimal cost of living is subject to change during a year. Minimal cost of living for the period up to is equal to UAH 1,147. For the period 1-31 December 2013 minimal cost of living would be UAH 1,218. Thus, max. base for soc. contribution till = 17 * UAH 1,147 = UAH 19,499 For 2014 minimal cost of living is not set yet. Hong Kong There is no social security in Hong Kong; however, there is a Mandatory Provident Fund (MPF) contribution requirement on both employer and employee (except for exempt person). Current MPF rate for employer: 5% of the monthly relevant income, capped at HK$1,250 per month from employer There is no social security in Hong Kong; however, there is a MPF contribution requirement on both employer and employee (except for exempt person). Current MPF rate for employee: 5% of the monthly relevant income, capped at HK$1,250 per month There is no social security in Hong Kong; however, there is a MPF contribution requirement for selfemployed person (except for exempt person). MPF rate self-employed person: 5% of the monthly relevant income, capped at HK$1,250 per month from employee N/A N/A N/A For MPF, the base used is the monthly relevant income, including base salary, bonus, housing benefit, other cash allowances, etc. for MPF purposes. Share based compensation is not subject to MPF under the current legislation.

7 Country Mandatory Social Security Mandatory Health Insurance (or other type if applicable) Switzerland AHV (old age ) 1st pillar 5.15% uncapped Unemployment I 1.10% up to CHF 126,000 Unemployment II 0.5% for amounts between CHF 126,001 to CHF 315,000 + Accident 0.8% up to CHF 126,000 + II. Pillar pension AHV (old age ) 1st pillar 5.15% uncapped Unemployment I 1.10% up to CHF 126,000 Unemployment II 0.5% for amounts between CHF 126,001 to CHF 315, II. Pillar pension USA 6.2% on earnings up to $117, % on earnings up to $117,000 Sickness/ Health - It is compulsory in Switzerland and every resident must conclude the himself. No involvement of the employer 12.4%* on earnings up to $117, % on all earnings 1.45% on all earnings 2.9%* on all earnings gross income (partially capped)

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