The management and trade union representatives met on March 17, 2009 to examine the draft agreements enabling the implementation of a crisis-period labor deal at Renault s.a.s.
The definitive documents will be submitted to the trade unions for agreement by March 26. The management also took advantage of the meeting to confirm salary policy for 2009.

The management reasserted the principles of solidarity and fairness for compensating days not worked.

Engineers and executives together with production and non-managerial staff with salaries based on a fixed number of hours, whose salary would be maintained at 100%, would contribute to a crisis management fund through the non-acquisition of one day of “individual time capital” (“capital temps individuel”, or CTI) for five days not worked (not exceeding eight CTI days per year).

Production and non-managerial staff whose salaries are not based on a fixed number of hours could also receive their full net monthly salary, thanks to a supplement from the crisis-management fund and from the purchase, on a voluntary basis, of one CTI day for every five days not worked.

Given that the deal is based on using CTI days to compensate short-time to the rate of 100%, additional measures were presented to ensure that each employee has a sufficient number of CTI days.

The balance of the fund constituted in November 2008, during the operation of donating one CTI day to employees on short-time work at that time, will also be used. This sum could also enable, on a retroactive basis, additional compensation of up to 5% of gross salary for employees placed on short-time work between January and March 2009.

EFFECTIVE FROM APRIL 1

Subject to the signature of the agreements, the crisis-period labor deal would be effective from April 1 through December 31, 2009 :
 For industrial sites affected by a decrease in activity, the deal would be effective as soon as the agreements were signed by the trade unions.
 For technical and support sites, the calendar of days not worked would be established by site management before the end of first-half 2009 in liaison with the function departments and in line with changes in the work load.

A central monitoring committee would ensure correct application of the agreement.

CONFIRMATION OF 2009 SALARY POLICY

The management has finalized salary policy for 2009, as presented on March 10. Renault will not be awarding a general increase in salaries. However, the company will be making individual salary increases to an overall amount of 0.5% of payroll.

On top of this sum, raises linked to seniority are confirmed. In all, more than 90% of production workers and more than one-third of non-managerial staff will benefit from these measures.