人力资源论文之股权激励英文版

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2、f 斑listed 艾compani百es in e挨quity-b拔ased in肮c版entives霸CHAPTER芭 I霸General败 阿Article昂1. 吧To furt靶her pro奥mote th拌e estab半lishmen耙t of a 板listed 坝company蔼, a sou柏nd ince霸nti半ve and 颁restrai敖nt mech俺anisms,鞍 accord扳ing to 唉People柏s Repu哎blic of霸 China 爱Company翱 Law, 昂the Se埃curitie坝s Act o靶f Peopl翱es Rep

3、般ublic o坝f China哎 and o啊ther re昂levant 靶laws an坝d admin蔼istrati把ve regu爸lations熬, the d暗evelopm败ent of 班this ap柏proach.拜 捌Article板2. 爱The ter癌m refer胺s to 扒shares 哎of list摆ed comp八anies i澳ncentiv俺es to t百he comp啊anys s哎hares b坝eing th唉e subje碍ct of i扒ts dire跋ctors, 盎supervi扒sors, s癌enior m颁anageme氨n

4、t and 靶other s柏taff to扳 carry 罢out lon把g-term 艾incenti捌ves. Li罢sted co斑mpanies扮 to be 蔼restric柏ted sto邦ck, sto笆ck opti氨ons and笆 the la凹ws and 敖admi熬nistrat佰ive reg岸ulation扮s to al奥low the般 implem案entatio疤n of ot柏her mea碍ns of e八quity i熬ncentiv碍e plans般, the a啊pplicat碍ion of 耙the pro扒visions啊 of thi袄

5、s appro皑ach. 拌Article隘3.阿 挨Listed 稗company败s equi瓣ty ince安ntive p暗lan imp霸lementa版tion, i盎t shoul阿d be in班 line w胺ith the爸 laws a阿nd admi哎n半istrati罢ve regu澳lations叭, the m翱ethods 霸and the按 provis暗ions of佰 the Ar巴ticles 疤of Asso挨ciation颁 and is岸 conduc疤ive to 爱the sus奥tainabl案e devel挨opment 啊of list矮

6、ed comp靶anies, 班and mus百t not h败arm the安 intere翱sts of 疤listed 挨compani扒es. Dir奥ectors 凹of list把ed comp版anies, 把supervi阿sors an奥d se哀nior ma版nagers 哎in the 哎impleme拌ntation敖 of equ摆ity inc瓣entive 阿plans s版hould b岸e hones扮ty and 哎trustwo案rthines百s, dili阿gence, 坝and saf半eguard 疤the int白erests 板of all

7、拔shareho暗lders. 百Article案4. 邦Listed 坝compani盎es to i稗mplemen氨t equit翱y incen氨tive pl碍an shou把ld be i啊n stric熬t accor邦dance 唉with th罢e relev矮ant pro岸visions按 and re般quireme摆nts of 肮this ap稗proach 佰to info板rmation斑 disclo拔sure ob埃ligatio凹ns to f捌ulfill.按 罢Article跋5. 搬For lis办ted com暗panies 皑issued 挨eq

8、uity 拔incenti霸ve plan哎 views 柏of prof皑essiona斑l bodie半s, shou啊ld be h班onesty,艾 trustw埃orthine按ss, dil哎igence,奥 to e版nsure t澳hat the埃 docume靶nt issu隘ed by t鞍rue, ac般curate 班and com坝plete. 鞍Article扒6.袄 按No pers隘on shal拌l make 疤use of 跋equity 扒incenti八ve plan挨s insid唉er trad半ing, pr哀ice man傲ipulati挨on

9、of s皑ecuriti癌es tran胺saction败s and s俺ecuriti芭es frau斑d.邦Chapter矮 II 斑General扮 provis般ions 翱Article稗7. 跋Li哀sted co霸mpanies扳, one o靶f the f搬ollowin版g circu邦mstance半s shall半 be the办 implem芭entatio懊n of eq班uity in盎centive霸 plans:班 (a) In半 the la颁st fisc拌al year案 a fina俺ncial a扳ccounti把ng repo矮rt nega板ti

10、ve op啊inion i笆ssued b隘y a cer坝tified 鞍public 按account半ant to 按express袄 an opi唉nion or板 are un扳able奥 to aud阿it repo邦rts; (b把) the r搬ecent m癌ajor vi绊olation叭s durin板g the y翱ear due哀 to irr阿egulari傲ties by柏 the Ch哀ina Sec鞍urities叭 Regula邦tory Co碍mmissio笆n to be霸 an adm埃inistra般tive pe板nalty; 靶(c) of 拜t

11、he Chi挨na Secu瓣rities 办Regulat肮ory Com隘mission傲 finds 罢that th氨e other霸 cases.瓣 皑Article班8.安 叭Equity 盎incenti耙ve plan瓣 target蔼 of inc俺entives唉 may in版clude t霸he dire吧ctors o坝f liste按d compa矮nies, s版upervis笆ors, se跋nior ma霸nagemen唉t, the 蔼core te败chnolog罢y (busi般ness), 熬as well皑 as com搬panies 熬that s

12、h阿ould in稗spire o唉ther em吧ployees熬, but i奥ndepend澳ent dir蔼ectors 鞍should 挨not be 摆in按cluded.颁 The fo爱llowing半 incent爱ives ma扒y not b拌e the o把bject: 爸(a) In 袄the las笆t 3 yea笆rs by s艾tock or八 announ般ce publ吧icly co昂ndemned靶 as ina白ppropri翱ate can凹didates爱; (b) t绊he last傲 3 year啊s due t哎o major艾 violat

13、奥ions of暗 law vi伴olation八s by th袄e China哎 Securi摆ties Re隘gulator伴y Commi坝ssio哀n to be暗 of an 八adminis败trative澳 penalt邦y; (iii凹) Peop懊les Re斑public 蔼of Chin霸a Compa斑ny Law爸 shall 熬be prov罢ided as靶 the co皑mpanys澳 direct奥ors, su拜perviso搬rs, sen阿ior man奥agement阿 situat罢ions. E哎quity i霸ncentiv佰e plan 办fo

14、r con肮siderat暗ion by 鞍the boa坝rd of d鞍irector白s, boar暗d of su案perv扒isors o班f liste靶d compa佰nies sh安ould be埃 to ver扒ify the爱 list o哀f incen肮tives, 拔and to 胺verify 敖the sit敖uation 背to be i熬n that 巴general扳 meetin稗g of sh吧arehold扳ers. 按Article按9.斑 吧Incenti耙ve for 靶directo阿rs, sup版ervisor隘s, seni凹or man

15、a埃gers of芭 listed版 compan按ies sho斑uld est柏ablish 鞍a perfo板r颁mance a稗ppraisa鞍l syste邦m and a昂ssessme吧nt meth矮ods, in靶dicator稗s for p哎erforma隘nce app吧raisal 霸plan fo八r the i笆mplemen板tation 埃of the 叭conditi佰ons of 唉equity-阿based i捌ncentiv皑es. 版Article捌10.搬 版Listed 半compani摆es will把 not be绊 allowe隘d to

16、st埃imulate案 the ta盎rget eq肮uity in吧centive哎 plan i邦n稗 accord百ance wi埃th the 版rights 碍of acce把ss to l昂oans, a爸s well 扒as any 隘other f扳orm of 扒financi昂al assi凹stance,隘 includ扮ing pro敖viding 背securit绊y for t蔼heir lo翱ans. 癌Article熬11. 扒To the 鞍impleme盎ntation皑 of equ坝ity inc矮entive 肮plans o皑f liste奥d co

17、mpa板nies, b皑ased on安 the ac挨tual si胺tuation摆 of the罢 Compan颁y, thro把ugh the俺 follow皑ing sou板rces to敖 resolv爱e the s艾ubject 靶of shar埃es: (i)白 object芭 to the唉 incent傲ive to 昂issue s罢hares; 败(b) rep坝urchase捌 the sh邦ares of柏 the Co氨mpany; 白(c) the爱 laws a氨nd admi绊nistrat巴ive reg拌ulation把s to al搬low the扳

18、 other 板way. 版Article霸12. 邦All lis按ted com罢panies 吧effecti巴ve equi阿ty ince吧ntive p拜lan inv般olved b凹ringing办 the to绊tal num拜ber of 昂shares 瓣the sub吧ject co凹mpany s哀hall no半t excee半d 10% o拌f the t啊otal sh邦are cap背ital. N鞍on-shar昂eholder稗s gene霸ral mee百ting ap袄proved 把a speci暗al reso把lution 奥of any 皑ob

19、ject 百through澳 a full熬 and案 effect半ive inc案entive 佰equity 巴incenti氨ve plan鞍 of the啊 Compan安y grant矮ed a to坝tal sto啊ck equi按ty of t癌he comp肮any sha哀ll not 澳exceed 唉1% of t办he tota蔼l. Firs扮t parag板raph of绊 this a搬rticle,叭 second袄 paragr疤aph ref碍erred t绊o the t邦otal sh澳are cap巴ital re笆fers to靶 the mo鞍s

20、t rece按nt gene埃ral 凹meeting哀 of sha瓣reholde癌rs appr皑oved eq鞍uity in佰centive芭 plans 氨of the 班company爱s issu奥ed shar跋e capit傲al of t疤he tota岸l. 邦Article邦13. 盎Listed 板compani按es shou疤ld be i哎n the e背quity i啊ncentiv靶e plan 坝on the 芭followi扳ng matt凹ers or 白stateme吧nts mad巴e clear搬 that: 拜(i) the翱 purpos跋

21、e of eq跋ui爸ty ince拌ntive p扒lans; (耙b) base啊d on in凹centive柏 to ide笆ntify t盎he obje拌ct and 昂scope; 办(c) the昂 equity袄 incent阿ive pla隘n to gr靶ant the懊 rights傲 and in氨terests白 of the胺 number鞍 of inv奥olved i爸n the s哀ubject 办of stoc板k sourc霸es, typ艾es, qua岸ntity a隘nd equi白ty of l叭isted c罢ompanie凹s accou挨n

22、ted颁 for a 背percent捌age of 氨the tot柏al; if 扮at time扳s the i扮mplemen叭tation 懊of each霸 of the熬 rights安 and in绊terests埃 to be 拔granted胺 the nu皑mber of凹 shares按 involv八ed in t捌he type啊 of sub扳ject, s拌ource, 安volume 安and acc佰ounted 氨for the芭 total 败equity 哎of list翱ed comp袄anies p拔ercenta芭ge; (d)邦 inc叭ent

23、ives稗 for di耙rectors懊, super绊visors,碍 senior哀 manage斑ment an稗d their版 respec熬tive ri啊ghts an袄d inter碍ests to暗 be giv摆en the 佰number 澳of, or 奥equity 芭incenti芭ve plan柏 to gra捌nt the 吧rights 岸and int颁erests 罢of the 吧percent懊age of 艾the tot癌al; oth盎er ince挨ntives 邦objects懊 (or th凹eir app唉ropr背iate cl背as

24、sific扮ation) 芭may be 胺delegat靶e repre柏senting佰 the in啊terests唉 of the蔼 quanti岸ty and 叭equity 八incenti吧ve plan拌 to gra叭nt the 办rights 瓣and int蔼erests 白of the 懊percent办age of 哎the tot八al; (e)唉 the va翱lidity 拔of equi癌ty ince阿ntive p捌lans au岸thorize笆 the da安ys, rig胺ht feas办ible, t昂he s绊ubject 傲of stoc耙k

25、 lock-靶up peri氨od; (f)柏 the gr搬ant of 百restric哎ted sto吧ck pric八e or De爸termina懊tion of哎 grant 澳price, 百the sto版ck opti胺on exer岸cise pr办ice or 安exercis奥e price柏 determ俺ination案; (g) a半uthoriz百ed the 版target 般incenti昂ve bene啊fits, t唉he righ鞍t condi盎tions, 巴such as傲 perfor坝manc背e appra邦isal sy百stem an伴

26、d asses岸sment m绊ethods,拜 and to把 perfor板mance a挨ppraisa佰l indic敖ators f蔼or the 颁impleme安ntation敖 of equ碍ity-bas罢ed ince笆ntives 搬scheme;暗 (h) eq跋uity in隘centive傲 plan r摆ights a背nd inte埃rests i岸nvolved艾 in the疤 number捌 of the斑 target班 amount扳 of sha摆res, ex吧ercise 坝pric癌e or gr版ant pri办ce adju笆stment

27、叭methods版 and pr蔼ocedure矮s; (i) 把the rig扳hts and凹 incent胺ives gr安anted t佰he righ搬t of th敖e targe氨t line 芭procedu摆res; (1叭0) Comp凹any and阿 encour艾agement伴 of the胺ir resp蔼ective 败rights 爱and obl板igation绊s of th办e objec氨t; (xi)吧 change跋s in co扮ntrol o捌f the c版ompa埃ny, mer摆ger, se昂paratio爸n, job 拜change

28、 败occurre艾d incen半tive ta巴rget, s岸eparati肮on, dea霸th matt罢er how 拜the imp稗lementa半tion of阿 equity安 incent啊ive pla敖ns; (xi般i) chan疤ges in 俺equity 氨incenti班ve plan扮, termi敖nated; 邦(xiii) 案other i般mportan叭t matte挨rs. 芭Article阿14.半 罢Occurre皑nce of 罢a liste靶d笆 compan拔y in Ar俺ticle V斑II of t耙his app安roach

29、 t蔼o one o霸f the c拜ases, s版hould p搬ut an e瓣nd to t案he impl吧ementat俺ion of 安equity 颁incenti佰ve plan敖s, may 半not obj拔ect to 暗the inc凹entive 靶to cont佰inue to伴 grant 昂new rig凹hts and柏 intere把sts of 爱the tar爱get inc稗entive 胺under t叭he equi斑ty ince爸ntiv鞍e plan 摆have be肮en gran霸ted but把 not ye昂t exerc芭ised

30、 by把 the ex哀ercise 皑of the 啊rights 把and int鞍erests 巴should 扳be disc暗ontinue澳d. Equi版ty ince埃ntive p敖lans in伴 the im背plement凹ation p八rocess 稗of this岸 approa哀ch moti盎vate th懊e targe啊t appea袄rs in A笆rticle 般VIII sh傲all not傲 be the巴 case t耙he o翱bject o澳f incen胺tives, 柏the lis吧ted com摆panies 岸shall c颁ont

31、inue矮 to gra邦nt the 柏rights 吧and int把erests,斑 and it爸s has b埃een gra耙nted bu皑t not y把et exer案cised b瓣y the e挨xercise唉 of the把 rights爱 and in矮terests搬 should敖 be dis板continu佰ed. 爱Article暗15. 摆Target 稗incenti敖ve to t半ransfer案 their 皑i俺ncome t挨hrough 颁the equ胺ity inc凹entive 颁plan sh邦ares, i邦t shoul疤d b

32、e in芭 line w凹ith rel背evant l半aws and百 admini挨strativ唉e regul蔼ations 阿and the盎 provis爱ions of爸 this a暗pproach扒.绊Chapter摆 III 伴Restric哀ted sto岸ck 岸Article邦16. 懊The ter拌m incen爸tive re澳stricte哎d stock盎 is the盎 object霸 in acc翱o板rdance 拔with th埃e equit澳y incen哀tive pl熬an prov佰ides fo班r the c耙onditio八ns o

33、bta阿ined fr稗om the 澳listed 耙compani胺es a ce袄rtain n把umber o柏f share拜s of th班e Compa跋ny. 矮Article般17. 敖Listed 奥compani艾es targ氨et ince暗ntive a暗ward re半stricte胺d stock扳, equit柏y incen笆tive pl芭ans sho敖uld be 隘provide败d跋 for th叭e objec罢t grant搬ed ince扳ntive s懊tock pe艾rforman笆ce cond疤itions,岸 the ba般n pe

34、rio艾d. 跋Article摆18. 佰Listed 稗compani捌es to t鞍he stoc吧k marke稗t as a 靶benchma袄rk to d吧etermin澳e the p办rice of般 restri氨cted st般ock awa唉rded in昂 the fo哎llowing扒 period佰 shall 岸not obj版ect to 板the gra凹nt of s伴to拔ck ince稗ntives:昂 (i) pr八ior to 叭the pub半licatio安n of pe版riodic 版reports稗 on the皑 30th; 傲(b)

35、a m唉atter o跋f signi扮ficant 霸transac澳tions o把r major鞍 decisi艾on-maki背ng proc柏ess to 碍the mat跋ter Not唉ice two版 days a氨fter; (拜c) The 鞍other m啊ajor ev半ent tha般t may a隘ffect t八he shar稗e price袄 on the奥 dat挨e of an啊nouncem百ent unt靶il two 半trading疤 days.翱Chapter暗 IV 疤Stock o昂ptions 矮Article爱19. 柏The ter摆m

36、refer碍s to th爸e listi叭ng of s懊tock op按tions g蔼ranted 挨incenti昂ve targ摆ets wit爸hin a c班ertain 班period 摆of time澳 in the扒 future埃 in ord阿er to p安re-dete俺rmined 坝purchas败e price皑 and co百ndition靶s of a 岸certain扳 number稗 of sha翱res of 皑the Com靶panys 扒rights.奥 Object佰s can b罢e the i癌ncentiv板e stock懊 option

37、罢s grant隘ed duri坝ng the 版period 百specifi般ed in a跋 pre-de八termine半d purch班ase pri半ce and 奥conditi艾ons of 百a certa蔼in numb巴er of s懊hares o翱f liste岸d compa疤nies ca瓣n also 癌give up奥 the拜 rights瓣. 埃Target 巴incenti暗ve stoc凹k optio佰ns gran八ted sha袄ll not 伴be tran爱sferabl摆e or us盎ed to g班uarante唉e repay矮men

38、t of熬 debt. 暗Article八20. 吧The boa白rd of d岸irector暗s of li搬sted co吧mpanies拜 can be班 consid叭ered in案 accord癌ance wi斑th the 案approva摆l of sh班arehold敖ers of 背the Gen斑eral As版se艾mbly of拜 the st胺ock opt芭ions, a邦nd deci扮ded to 跋grant a皑 one-ti半me or i阿n the a瓣warding埃 of sto皑ck opti般ons, bu拔t out o霸f a tot

39、凹al gran稗t of st板ock opt搬ions re把lated t瓣o the s瓣ubject 罢of shar熬es shal袄l not e霸xceed t办he tota袄l amoun按t of st绊ock opt佰ion pla版ns of t瓣he subj罢ect inv绊olved i爱n th埃e total挨 stock.蔼 耙article矮21. 埃Authori昂zed on 敖stock o拜ptions 稗and sto百ck opti坝ons are稗 grante拔d the r爱ight li安ne on t懊he firs摆t time,

40、背 the in挨terval 胺between瓣 not le八ss than傲 1 year板. 阿Stock o佰ptions 斑on the 爱validit翱y of th伴e calcu傲lation 拜from th敖e autho案rizatio案n may n半ot exce班ed 10 y般e般ars. 扳article袄22.吧In the 埃life of背 stock 爸options唉, liste柏d compa捌nies sh班ould pr把ovide i矮ncentiv柏es targ蔼et the 跋right l百ine in 矮phases.百 敖St

41、ock o癌ptions 般After t稗he vali蔼dity pe跋riod ha艾s been 颁granted翱 the ri班ght lin稗e but n绊ot the 坝stock o蔼ptions 翱may not白 be the埃 right 瓣line. 奥Artic叭le奥23鞍.办 稗Listed 澳compani跋es in t斑he awar哀d of in霸centive斑 stock 捌options癌 when t吧he targ邦et shou笆ld be t按o deter佰mine ex柏ercise 拜price o搬r exerc哀ise pri

42、肮ce dete蔼rminati背on. Exe搬rcise p罢rice sh岸ould no般t be le安ss than吧 the hi瓣gher of巴 the fo懊llowing叭 prices般: (i) e版quity i靶ncentiv伴e plan 瓣prio蔼r to th挨e publi拜cation 八of the 败draft s稗ummary 唉of the 蔼company板 tradin百g day c摆losing 唉price o叭f the s扳ubject 叭shares;暗 (b) th背e equit拌y incen凹tive pl柏an pri

43、o熬r to th百e publi扳cation 般of the 鞍draft s八ummary 按of 30 t隘rading 耙days of颁 the co按mpany a邦verage 班closing鞍 price 跋of the 昂subject凹. 肮A阿rticle凹24. 败Shares 坝of list蔼ed comp敖anies d哀ue to t哎he subj敖ect of 跋ex-divi隘dend, d耙ividend搬 or oth捌er reas颁ons nee敖d to ad吧just th柏e exerc肮ise pri啊ce or t拔he numb板e

44、r of s傲tock op板tions, 傲stock o背ption p澳lans in叭 accord佰ance wi懊th the 啊provisi袄ons of 捌the pri瓣nciples芭 and wa白ys to a耙djust. 邦The bas皑is of t板he abov捌e liste盎d compa唉nies th疤e right吧 to adj俺ust the按 trip p拌rice or班 the nu熬mber of爸 stock 奥options隘 should败 be mad拜e by th案e board爸 of dir翱ectors 把and t

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