人力資源論文之股權(quán)激勵英文版

1、唉XXXXX挨大學(xué)畢業(yè)論文附 錄敗學(xué) 生 姓 名敖 艾XXX艾 扮 捌指 導(dǎo) 教 師笆 矮XXX矮 癌 靶專 辦 業(yè)扒 人力資啊源管理 胺 胺學(xué) 澳 院昂 管癌理學(xué)院 敖 笆2009年6月搬8日笆XXX Uni捌versity藹Appendi按x捌Student邦 皚 罷xxxxxxx芭 芭 把 罷 搬Supervi按sor傲 絆 柏xxx愛 霸 扮 氨 拌Special壩ty澳 Human 巴Resourc耙es Mana奧gement 壩 扮 斑 靶 芭School哎 M巴anageme哀nt Scho埃ol 版 澳 疤 把 澳200扳9芭-0藹6搬-叭08原文癌Managem俺ent o

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

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

4、t and 靶other s柏taff to扳 carry 罷out lon把g-term 艾incenti捌ves. Li罷sted co斑mpanies扮 to be 藹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奧low the般 implem案entatio疤n of ot柏her mea礙ns of e八quity i熬ncentiv礙e plans般, the a啊pplicat礙ion of 耙the pro扒visions啊 of thi襖

5、s appro皚ach. 拌Article隘3.阿 挨Listed 稗company敗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罷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頒 and is岸 conduc疤ive to 愛the sus奧tainabl案e devel挨opment 啊of list矮

6、ed comp靶anies, 班and mus百t not h敗arm the安 intere翱sts of 疤listed 挨compani扒es. Dir奧ectors 凹o(jì)f list把ed comp版anies, 把supervi阿sors an奧d se哀nior ma版nagers 哎in the 哎impleme拌ntation敖 of equ擺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, 壩and saf半eguard 疤the int白erests 板of all

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

8、uity 拔incenti霸ve plan哎 views 柏of prof皚essiona斑l bodie半s, shou啊ld be h班onesty,艾 trustw埃orthine按ss, dil哎igence,奧 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壩plete. 鞍Article扒6.襖 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皚ecuriti癌es tran胺saction敗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辦 implem芭entatio懊n of eq班uity in盎centive霸 plans:班 (a) In半 the la頒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壩tified 鞍public 按account半ant to 按express襖 an opi唉nion or板 are un扳able奧 to aud阿it repo邦rts; (b把) the r搬ecent m癌ajor vi絆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礙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 辦Regulat骯ory Com隘mission傲 finds 罷that th氨e other霸 cases.瓣 皚Article班8.安 叭Equity 盎incenti耙ve plan瓣 target藹 of inc俺entives唉 may in版clude t霸he dire吧ctors o壩f liste按d compa矮nies, s版upervis笆ors, se跋nior ma霸nagemen唉t, the 藹core te敗chnolog罷y (busi般ness), 熬as well皚 as com搬panies 熬that s

12、h阿ould in稗spire o唉ther em吧ployees熬, but i奧ndepend澳ent dir藹ectors 鞍should 挨not be 擺in按cluded.頒 The fo愛llowing半 incent愛ives ma扒y not b拌e the o把bject: 爸(a) In 襖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愛; (b) t絆he last傲 3 year啊s due t哎o major艾 violat

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

14、r con骯siderat暗ion by 鞍the boa壩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愛 list o哀f incen骯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o(jì)r man

15、a埃gers of芭 listed版 compan按ies sho斑uld est柏ablish 鞍a perfo板r頒mance a稗ppraisa鞍l(fā) 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皚es. 版Article捌10.搬 版Listed 半compani擺es will把 not be絆 allowe隘d to

16、st埃imulate案 the ta盎rget eq骯uity in吧centive哎 plan i邦n稗 accord百ance wi埃th the 版rights 礙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絆y for t藹heir lo翱ans. 癌Article熬11. 扒To the 鞍impleme盎ntation皚 of equ壩ity inc矮entive 骯plans o皚f liste奧d co

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

18、 other 板way. 版Article霸12. 邦A(yù)ll lis按ted com罷panies 吧effecti巴ve equi阿ty ince吧ntive p拜lan inv般olved b凹ringing辦 the to絆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襖proved 把a speci暗al reso把lution 奧of any 皚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壩tal sto啊ck equi按ty of t癌he comp骯any sha哀ll not 澳exceed 唉1% of t辦he tota藹l. Firs扮t parag板raph of絆 this a搬rticle,叭 second襖 paragr疤aph ref礙erred t絆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皚oved eq鞍uity in佰centive芭 plans 氨of the 班company愛s issu奧ed shar跋e capit傲al of t疤he tota岸l. 邦A(yù)rticle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 壩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; 辦(c) the昂 equity襖 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奧olved i爸n the s哀ubject 辦of stoc板k sourc霸es, typ艾es, qua岸ntity a隘nd equi白ty of l叭isted c罷ompanie凹s accou挨n

22、ted頒 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絆terests埃 to be 拔granted胺 the nu皚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 敗equity 哎of list翱ed comp襖anies p拔ercenta芭ge; (d)邦 inc叭ent

23、ives稗 for di耙rectors懊, super絆visors,礙 senior哀 manage斑ment an稗d their版 respec熬tive ri啊ghts an襖d inter礙ests to暗 be giv擺en the 佰number 澳of, or 奧equity 芭incenti芭ve plan柏 to gra捌nt the 吧rights 岸and int頒erests 罷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藹 quanti岸ty and 叭equity 八incenti吧ve plan拌 to gra叭nt the 辦rights 瓣and int藹erests 白o(hù)f the 懊percent辦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辦ible, t昂he s絆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辦ice or 安exercis奧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壩manc背e appra邦isal sy百stem an伴

26、d asses岸sment m絆ethods,拜 and to把 perfor板mance a挨ppraisa佰l indic敖ators f藹or the 頒impleme安ntation敖 of equ礙ity-bas罷ed ince笆ntives 搬scheme;暗 (h) eq跋uity in隘centive傲 plan r擺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擺res, ex吧ercise 壩pric癌e or gr版ant pri辦ce adju笆stment

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

28、 敗occurre艾d incen半tive ta巴rget, s岸eparati骯on, dea霸th matt罷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 罷Occurre皚nce of 罷a liste靶d笆 compan拔y in Ar俺ticle V斑II of t耙his app安roach

29、 t藹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 頒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 愛the tar愛get inc稗entive 胺under t叭he equi斑ty ince爸ntiv鞍e plan 擺have be骯en gran霸ted but把 not ye昂t exerc芭ised

30、 by把 the ex哀ercise 皚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襖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擺panies 岸shall c頒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皚t not y把et exer案cised b瓣y the e挨xercise唉 of the把 rights愛 and in矮terests搬 should敖 be dis板continu佰ed. 愛Article暗15. 擺Target 稗incenti敖ve to t半ransfer案 their 皚i俺ncome t挨hrough 頒the equ胺ity inc凹entive 頒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藹ations 阿and the盎 provis愛ions of爸 this a暗pproach扒.絆Chapter擺 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襖rtain n把umber o柏f share拜s of th班e Compa跋ny. 矮Article般17. 敖Listed 奧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敗d跋 for th叭e objec罷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擺18. 佰Listed 稗compani捌es to t鞍he stoc吧k marke稗t as a 靶benchma襖rk to d吧etermin澳e the p辦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皚 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 礙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襖 on the奧 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愛19. 柏The ter擺m

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

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

38、t of熬 debt. 暗A(chǔ)rticle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擺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皚 one-ti半me or i阿n the a瓣warding埃 of sto皚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 罷of shar熬es shal襖l not e霸xceed t辦he tota襖l amoun按t of st絆ock opt佰ion pla版ns of t瓣he subj罷ect inv絆olved i愛n th埃e total挨 stock.藹 耙article矮21. 埃Authori昂zed on 敖stock o拜ptions 稗and sto百ck opti壩ons are稗 grante拔d the r愛ight li安ne on t懊he firs擺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 愛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襖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藹et the 跋right l百ine in 矮phases.百 敖St

41、ock o癌ptions 般After t稗he vali藹dity pe跋riod ha艾s been 頒granted翱 the ri班ght lin稗e but n絆ot the 壩stock o藹ptions 翱may not白 be the埃 right 瓣line. 奧Artic叭le奧23鞍.辦 稗Listed 澳compani跋es in t斑h(yuǎn)e 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、骯ce dete藹rminati背on. Exe搬rcise p罷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藹r to th挨e publi拜cation 八of the 敗draft s稗ummary 唉of the 藹company板 tradin百g day c擺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頒 the co按mpany a邦verage 班closing鞍 price 跋of the 昂subject凹. 骯A阿rticle凹24. 敗Shares 壩of list藹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頒ons nee敖d to ad吧just th柏e exerc骯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襖ons of 捌the pri瓣nciples芭 and wa白ys to a耙djust. 邦The bas皚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 奧options隘 should敗 be mad拜e by th案e board爸 of dir翱ectors 把and t

45、he安 shareh俺olders巴 genera襖l meeti奧ng to c艾onsider白 approv頒al of t哎he reso翱lution,罷 or by 擺the sha鞍reholde矮rs of t扒he G敗eneral 盎Assembl礙y decid皚ed to a暗uthoriz埃e the B氨oard of白 Direct哎ors. La艾wyers s板hould b艾e on th皚e above昂 adjust背ment is頒 consis凹tent wi敖th this愛 approa俺ch, the敖 compan安y chart爸er an

46、d 安the pro壩visions稗 of sto暗ck opti芭on plan靶s issue板d by pr吧ofessio疤nal adv拔ice to 岸the Boa唉rd of D敗irector艾s. 阿Article佰25. 礙Listed 扒compani愛es in t擺he foll班owing p把eriod s案hall no礙t objec澳t to in八centive班 stock 巴options阿 grante疤d to: (擺i) prio岸r to th岸e publi笆cation 擺of peri敗odic re埃ports o奧n the 3藹

47、0th; (b稗) a mat板ter of 哀signifi傲cant tr白ansacti哀ons or 傲major d安ecision頒-making藹 proces邦s in a 扳matter岸 of not芭ice to 襖the two巴 tradin捌g days;拜 (c) ot鞍her pos矮sible s壩ignific搬ant inc暗idents 芭of pric骯e from 耙the dat俺e of no奧tice of斑 two tr岸ading d扳ays. 扳Article背26. 懊Incenti扮ve targ傲et shou俺ld be p皚er

48、iodic癌 report疤s of li俺sted co挨mpanies扮 after 翱the ann艾ounceme版nt of t版he firs半t two t絆rading 靶days to拜 the ne板xt peri胺odic re背port 10敗 tradin啊g days 稗prior t愛o exerc霸ise, bu霸t not t稗he righ藹t exper岸ts in t半he foll案owing p挨eriod: 隘(a) a m岸atter o耙f signi把ficant 艾transac胺tions o斑r major翱 decisi伴on-mak

49、i辦ng proc爸ess to 挨Notice 巴of the 絆matter 胺after t八he two 鞍trading藹 days; 挨(b) of 佰the 阿other m愛ajor ev柏ent tha笆t may a埃ffect t翱he shar熬e price扮 on the半 date o礙f annou啊ncement拔 until 奧two tra柏ding da般ys.骯Chapter耙 V 拜Supervi哀sion an頒d punis皚hment 澳Article絆2邦7. 隘Listed 澳compani骯es file扳 false 氨financi矮

50、al and 拜account巴ing rec暗ords, t隘o whom 扮the obj敗ect of 爸incenti奧ves fro骯m the阿 financ骯ial acc癌ounting敖 docume半nts fro疤m the d疤ate of 安notice 版within 安12 mont哎hs from拌 the eq扮uity in案centive翱 plan r白eceived壩 the fu疤ll bene吧fits of伴 shall 癌be retu瓣rned to氨 the co爸mpany. 暗A(chǔ)rticle翱28. 佰Listed 白compani壩e

51、s do n襖ot meet瓣 the re霸quireme俺nts of 骯this ap班proach 隘to the 壩imple柏mentati藹on of e壩quity i版ncentiv安e plans盎, the C暗hina Se拌curitie靶s Regul按atory C絆ommissi熬on orde稗r(nóng)ed its拔 correc翱tion, t般he comp稗any and矮 relate擺d perso矮ns resp吧onsible佰 will b斑e punis扳hed acc叭ording 班to law;伴 in the拌 correc巴t order

52、扮, the C澳hina Se拜curitie唉s Regul八atory C鞍ommissi耙on will埃 not八 be the哀 compan爸ys app挨licatio氨n docum拜ents. 白Article拔29. 阿Listed 奧compani搬es are 拔not in 敗accorda耙nce wit背h this 八approac安h and o岸ther re澳levant 捌provisi暗ons of 霸the dis癌closure澳 of inf扮ormatio艾n equit敖y(tǒng) incen熬tive pl熬an and 跋the dis艾clo

53、sure爸 of inf把ormatio哀n or fa敖lse rec愛ords, m氨islead跋ing sta柏tements拌 or mat芭erial o背mission絆s, the 斑China S佰ecuriti叭es Regu骯latory 隘Commiss案ion ord澳ered it擺s corre般ction, 巴the com阿pany an把d relat懊ed pers稗ons res背ponsibl俺e will 矮be puni阿shed ac絆cording扳 to law邦. 安The use疤 of fic唉titious哎 equity搬 ince

54、nt胺ive pla背n perfo半rmance,藹 market阿 manipu扒l版ation o哀r insid版er deal澳ing, im藹proper 岸access 翱to bene凹fits, a氨ccordin拔g to Ch敖ina Sec安urities白 Regula艾tory Co隘mmissio芭n, conf鞍iscate 八the ill搬egal in伴come, t半he resp板onsibil挨ity of 爸the rel鞍evant m把easures跋 taken;拔 consti壩tute a 罷crime, 案investi鞍gate an

55、斑d deal 柏with th拜e trans把fer of 俺the 鞍judicia拜ry in a半ccordan半ce with伴 the la柏w. 埃article扮30. 八For lis背ted com擺panies 拔issued 敖equity 奧incenti板ve plan邦 views 盎of the 唉relevan敗t profe伴ssional皚 bodies鞍 are no案t fulfi頒lling t扮he obli伴gations背 dilige擺nce, pr隘ofessio耙nal adv凹ice iss懊ued by 拔the exi挨stenc

56、e 八of fals巴e recor邦ds, mis埃le凹ading s鞍tatemen盎ts or m懊aterial矮 omissi暗ons, th背e China罷 Securi吧ties Re癌gulator柏y Commi佰ssion o笆n the r絆elevant跋 profes搬sional 哀bodies 芭and sup哀ervisor拔y perso巴nnels 唉signatu擺re, iss拔ued by 叭warning罷 letter按, and o擺rdered 按measure版s to re八form an拔d the t百ransfer頒 of the

57、挨 releva盎nt prof擺essi愛onal bo罷dies to熬 deal w懊ith the澳 compet背ent aut擺horitie骯s; the 白circums胺tances 靶are ser礙ious, p搬unishab伴le by a唉 warnin矮g, fine柏s and o扮ther pe襖nalties八; const唉itute s把ecuriti斑es viol壩ations,奧 they s藹hall be叭 held l般iable.瓣Chapter吧 VI 靶Supplem笆entary 百Provisi八ons 按article唉33. 頒

58、This ap般pro癌ach the胺 follow疤ing ter盎ms have俺 the fo皚llowing隘 meanin八gs: the敗 senior啊 manage斑ment: r扮efers t伴o a lis昂ted com佰pany ma拜nager, 搬deputy 爸manager熬, finan敖ce char扮ge, the半 Board 昂Secreta拜ry and 岸the pro拔visions拌 of the芭 Articl隘es of A胺ssociat艾ion of 斑the oth傲ers. Th辦e subje按ct of s辦tock: m版

59、eans把 the eq傲uity in扮centive絆 plan, 巴incenti斑ve gran拌ted the佰 right 把to obje扒ct or t扒o purch拜ase sha熬res of 拔listed 瓣compani胺es. Int岸erests:班 the ob敖j(luò)ect re按fers to懊 stimul辦ate equ霸ity inc邦entive 礙plan in癌 accord疤ance wi拌th the 八listed 叭company襖 stocks搬, stock叭 option艾s. Auth襖orized 靶to date罷: a 壩li

60、sted 白company骯 refers巴 to obj氨ect to 安the inc安entive 扮stock o耙ptions 胺granted扳 to dat哎e. Must昂 be aut伴horized凹 on tra哎ding da芭ys. Exe阿rcise: 啊Object 啊refers 疤to ince靶ntive s暗tock op皚tions u捌nder th辦e incen扳tive pl百an, wit熬hin a s翱pecifie罷d perio傲d, to a邦 pre-de把termine鞍d purch艾ase pri奧ce a柏nd cond澳i