事實(shí)上，在股權(quán)激勵(lì)授予的實(shí)踐操作中，大多數(shù)的企業(yè)家都已經(jīng)意識(shí)到協(xié)議存在的重要性，也都清楚“口說(shuō)無(wú)憑”的危害性。

In fact, in the practical operation of granting equity incentives, most entrepreneurs have realized the importance of agreements and are also aware of the harm of "relying solely on words".

但遺憾的是，即便在股權(quán)授予之初，公司已經(jīng)寫(xiě)下了相應(yīng)的約定，但是由于沒(méi)有機(jī)構(gòu)的協(xié)助下，該等約定也往往是語(yǔ)焉不詳，不清不楚，一旦發(fā)生事情，無(wú)法解釋其中的問(wèn)題。那么關(guān)于員工股權(quán)激勵(lì)中的“離職回購(gòu)”，從企業(yè)角度而言，該怎么寫(xiě)？需要寫(xiě)明哪些內(nèi)容？這是企業(yè)必須清晰的問(wèn)題。下面濟(jì)南合伙設(shè)計(jì)公司人員為你分析：

Unfortunately, even though the company had already written corresponding agreements at the beginning of the equity grant, without the assistance of professional institutions, these agreements are often vague and unclear, and once something happens, it is impossible to explain the issues involved. So, from the perspective of the enterprise, what should be written about the "resignation repurchase" in employee equity incentives? What content needs to be clearly stated? This is a problem that enterprises must be clear about. Below, the personnel from Jinan Partnership Design Company will analyze for you:

1、明確設(shè)定回購(gòu)條件

1. Clearly set repurchase conditions

回購(gòu)條件是判斷回購(gòu)是否觸發(fā)的客觀依據(jù)，這個(gè)依據(jù)是在股權(quán)授予的時(shí)候就應(yīng)該設(shè)定好的，是企業(yè)發(fā)動(dòng)對(duì)員工所持股權(quán)回購(gòu)的啟動(dòng)按鈕。當(dāng)然，我們所討論的回購(gòu)是關(guān)于員工的“離職回購(gòu)”，主要是對(duì)員工“離職”的各種情形加以明確界定，對(duì)于因?yàn)楣舅鶎?dǎo)致的原因進(jìn)而回購(gòu)不在這里闡述，因?yàn)樵谄髽I(yè)實(shí)施員工股權(quán)激勵(lì)的過(guò)程中，回購(gòu)股權(quán)的情形肯定不止員工“離職”還有其他因素。當(dāng)然，無(wú)論任何情形的回購(gòu)，都必須有明確的回購(gòu)條件作為判斷依據(jù)。

The repurchase conditions are the objective basis for determining whether the repurchase is triggered, which should be set at the time of equity grant. They are the trigger button for enterprises to initiate the repurchase of employees' equity. Of course, the repurchase we are discussing is about the "resignation repurchase" of employees, mainly defining the various situations of employee "resignation". The repurchase caused by the company's reasons will not be elaborated here, because in the process of implementing employee equity incentives in enterprises, the situation of repurchasing equity is definitely not only related to employee "resignation" but also other factors. Of course, regardless of the repurchase situation, there must be clear repurchase conditions as the basis for judgment.

2、明確受讓人

2. Clarify the assignee

在股權(quán)激勵(lì)的實(shí)踐操作中遇到的多數(shù)情況是公司對(duì)離職回購(gòu)確有約定，包括員工個(gè)人原因?qū)е碌幕刭?gòu)以及公司原因?qū)е碌幕刭?gòu)，但是往往都沒(méi)有受讓人的約定，也就是究竟誰(shuí)來(lái)回購(gòu)這個(gè)股份，只是“員工離職時(shí)應(yīng)轉(zhuǎn)讓其所持公司股權(quán)”之類的簡(jiǎn)單表述。這會(huì)導(dǎo)致即使有了協(xié)議回購(gòu)條件，由于內(nèi)容不夠全面，也是用處不大。

In the practical operation of equity incentives, most of the situations encountered are that the company does have agreements on buybacks after resignation, including buybacks caused by personal reasons of employees and buybacks caused by company reasons. However, there is often no agreement on the transferee, that is, who will repurchase this share, only simple expressions such as "employees should transfer their company equity when leaving". This will result in even if there are conditions for negotiated repurchase, the content is not comprehensive enough and is not very useful.

3、明確回購(gòu)價(jià)格

3. Clarify repurchase price

轉(zhuǎn)讓價(jià)格在整個(gè)回購(gòu)流程中，是為重要的。很難想象一個(gè)未確定價(jià)格的股權(quán)轉(zhuǎn)讓的存在，離職回購(gòu)?fù)侨绱恕Ｔ诨刭?gòu)條件觸發(fā)的情況下，公司或其他股東有權(quán)對(duì)離職股東所持有的股權(quán)予以回購(gòu)，但必須給予相應(yīng)的對(duì)價(jià)。但如何確定價(jià)格這可以在協(xié)議中約定，可以由股東和公司協(xié)商確定，或者在協(xié)議中約定在退出的時(shí)候以一家具有法定資質(zhì)的資產(chǎn)評(píng)估機(jī)構(gòu)評(píng)估目標(biāo)公司在股東退出之時(shí)的凈資產(chǎn)，根據(jù)凈資產(chǎn)與股東的持股比例，計(jì)算出股東的轉(zhuǎn)讓價(jià)格。當(dāng)然，如果前期沒(méi)有約定好，缺乏對(duì)價(jià)約定的回購(gòu)將面臨難以操作的尷尬境地，因此，關(guān)于“離職回購(gòu)”的股權(quán)轉(zhuǎn)讓價(jià)格，必須在事先的約定中加以明確。

The transfer price is crucial throughout the entire repurchase process. It is difficult to imagine the existence of an undetermined price for equity transfer, as is the case with exit buybacks. In the event of triggering repurchase conditions, the company or other shareholders have the right to repurchase the equity held by the departing shareholder, but corresponding consideration must be given. But how to determine the price can be stipulated in the agreement, which can be determined through negotiation between the shareholders and the company, or it can be stipulated in the agreement that a legally qualified asset evaluation agency will evaluate the target company's net assets at the time of shareholder exit, and calculate the shareholder's transfer price based on the ratio of net assets to the shareholder's shareholding. Of course, if there is no agreement in the early stage, the repurchase without consideration agreement will face an awkward situation that is difficult to operate. Therefore, the equity transfer price for "resignation repurchase" must be clearly stated in the prior agreement.

4、明確辦理流程

4. Clarify the handling process

關(guān)于辦理流程背后的核心要義有兩個(gè)：股東資格的喪失時(shí)點(diǎn)和配合辦理變更登記的義務(wù)產(chǎn)生。當(dāng)前司法實(shí)踐中，“人走股留”或是“離職回購(gòu)”條款的有效性幾無(wú)爭(zhēng)議，爭(zhēng)議往往產(chǎn)生在離職員工的股東資格喪失時(shí)點(diǎn)上。是離職當(dāng)時(shí)即喪失股東資格，還是辦妥轉(zhuǎn)讓手續(xù)方視為喪失股東資格？司法實(shí)踐的看法不一，裁判觀點(diǎn)也大相徑庭。我們建議，在事先的約定之中就明確載明“一旦離職，員工自離職當(dāng)日即喪失公司股東資格”等類似表述，以此明確“離職回購(gòu)”中的股東資格喪失時(shí)點(diǎn)，清晰界定公司與離職員工之間的關(guān)系，特別是相關(guān)股東權(quán)利享有與否的界定。當(dāng)然，一旦發(fā)生“離職回購(gòu)”并且明確喪失股東資格，離職員工配合辦理相應(yīng)變更登記當(dāng)屬應(yīng)有之義，事先約定中也可對(duì)相關(guān)時(shí)限流程等加以明確。

There are two core points behind the handling process: the time point of loss of shareholder qualification and the obligation to cooperate in handling change registration. In current judicial practice, there is little controversy over the validity of clauses such as "retention of shares by individuals" or "buyback after resignation", which often arises at the time when the shareholder qualification of the departing employee is lost. Is it the loss of shareholder qualification at the time of resignation, or is it the loss of shareholder qualification only after completing the transfer procedures? The opinions on judicial practice vary greatly, and the viewpoints on adjudication also differ greatly. We suggest that similar expressions such as "once an employee resigns, they will lose their company's shareholder qualification from the date of resignation" should be clearly stated in the prior agreement, in order to clarify the time point of shareholder qualification loss in the "resignation repurchase" and clearly define the relationship between the company and the resigning employee, especially the definition of whether the relevant shareholder rights are enjoyed or not. Of course, once a "resignation repurchase" occurs and the shareholder qualification is clearly lost, it is necessary for the departing employee to cooperate in handling the corresponding change registration. The relevant time limit process can also be clearly specified in the prior agreement.

無(wú)論呈現(xiàn)為任何表現(xiàn)形式的協(xié)議約定，都需要對(duì)回購(gòu)條件、明確受讓人、回購(gòu)價(jià)格和辦理流程加以明確約定，不能有任何的遺漏。任何一個(gè)回購(gòu)要素的缺失，都將可能導(dǎo)致未來(lái)回購(gòu)觸發(fā)時(shí)實(shí)際操作上的重重障礙。所有這個(gè)事兒要重視起來(lái)，更多事項(xiàng)就來(lái)我們網(wǎng)站http://zhenzhush.com看看吧！

No matter what form of agreement is presented, it is necessary to clearly stipulate the repurchase conditions, transferee, repurchase price, and processing process, without any omissions. The absence of any repurchase element may lead to numerous obstacles in the actual operation of future repurchase triggers. All this matter needs to be taken seriously, and more matters will come to our website http://zhenzhush.com Take a look!