Article L212-15 of the French Monetary and Financial Code
Companies may carry out capital increases by issuing shares reserved for employees under the terms and conditions set out either in Articles L. 225-187 to L. 225-197 of the French Commercial Code or in Articles L. 3332-18 to L. 3332-24 of the French Labour Code and L. 225-138-1 of the French Commercial Code.