Subsection 1: The Board of Directors of the Executive Board.

The Articles of Association may require each director to own a number of shares in the company, which they determine. If, on the day of his appointment, a director does not own the required number of shares or if, during his term of office, he ceases to own them, he shall be deemed to have resigned automatically if he has not rectified his situation within six months. The provisions of…

The statutory auditors, if any, shall be responsible for ensuring compliance with the provisions of Article L. 225-25 and shall denounce any breach thereof in their report to the annual general meeting.

It may be stipulated in the Articles of Association that, in addition to the directors whose number and method of appointment are provided for in Articles L. 225-17 and L. 225-18, directors elected either by the company’s employees, or by the employees of the company and those of its direct or indirect subsidiaries whose registered office is located in France. The number of such directors may not exceed four or…

I. – In companies which employ, at the close of two consecutive financial years, at least one thousand permanent employees in the company and its direct or indirect subsidiaries whose registered office is located in France, or at least five thousand permanent employees in the company and its direct or indirect subsidiaries whose registered office is located in France and abroad, it is stipulated in the Articles of Association that…

The term of office of a director elected by the employees or appointed pursuant to article L. 225-27-1 is determined by the Articles of Association, without being able to exceed six years. The term of office is renewable, unless otherwise stipulated in the Articles of Association. Any appointment made in violation of articles L. 225-27, L. 225-27-1, L. 225-28 and this article shall be null and void. This nullity does…

The office of director elected by the employees or appointed pursuant to article L. 225-27-1 is incompatible with any office as trade union delegate, member of the works council, member of the group works council, employee delegate or member of the company’s health, safety and working conditions committee. It is also incompatible with any mandate as a member of a European Works Council, if one exists, or, for European companies…

The directors elected by the employees or appointed pursuant to article L. 225-27-1 shall have the time necessary to carry out their mandate effectively, under the conditions defined by decree in the Conseil d’Etat.

The directors elected by the employees or appointed pursuant to Article L. 225-27-1 are entitled, at their request, to training adapted to the exercise of their mandate, at the company’s expense, under conditions defined by decree in the Conseil d’Etat. This training time, which may not be less than forty hours per year, cannot be deducted from the credit of hours provided for in Article L. 225-30-1. Part of this…

Directors elected by employees or appointed pursuant to Article L. 225-27-1 shall not lose the benefit of their employment contract. Their remuneration as employees may not be reduced as a result of exercising their mandate.