Angestellten-Fürsorgefonds der Elsässer & Cie AG

The purpose of the foundation is to provide for the employees of Elsässer & Cie AG, 8001 Zurich, (hereinafter referred to as the Company) and their dependents against the economic consequences of old age, disability, and death, as well as to support the beneficiary or their heirs in cases of need such as illness, accident, disability, or unemployment. The foundation may also provide benefits to other tax-exempt pension institutions from the free foundation assets to finance contributions and insurance premiums, which exist for the benefit of the beneficiaries. The benefits of the foundation are voluntary and at the discretion of the foundation board acting in accordance with its duties. No benefits may be paid from the foundation assets for purposes other than provision, for which the Company is legally obligated or which have a character similar to wages, such as bonuses, service gifts, cost-of-living and family allowances.