The Legal Perfection Of The Exit System Of ESOP

Employee stock ownership plans is an effective mechanism that can not only achieve the withdrawal of state holding economy,but also allocate corporate wealth to employees,and further enhance the competitiveness of employees.Also,enhance the competitiveness of enterprises.From the point of view of the enterprise's own development,the plan of ESOP should be foresighted,clear and scientific.For any employee who implements employee stock ownership,it is necessary to establish a feasible exit mechanism,which can effectively transfer and cash the employee's equity when he withdraws from the company.From the current practice of ESOP exit system construction,although the "company law" is not on the ESOP separate provisions,but the relevant state ministries,provincial departments responsible as well as some industry norms have provisions on the management of ESOP,exit system is also a part of the ESOP.However,the provisions of these normative documents,whether in the specific operation or in the general command,there are some deficiencies or misconduct.Our country also tried the employee stock ownership system in the early stage of reform and opening up.Later,due to many abuse effects,disrupting the normal social and economic order,the employees of the directional recruitment company and the employees of the social raising company were abolished and banned,because of the open exit system.However,the existing employee shares in the corporate system also cause conflicts of justice and conflicts of interests in reality because of rules scattered,conflicting and irregular operation.The problems exposed also make many enterprises prohibit the employee stock ownership system.The reason is that some enterprises are lack of foresight in the formulation of management rules such as equity qualification,equity flow and equitywithdrawal,which results in failure of incentive and restraint,and even affects the normal development of enterprises.Study on China's ESOP exit theory and judicial system of dispute in this paper,focusing the dispute easily lead to ESOP exit system,such as the prior agreement validity of the equity transfer management,employee stock ownership to exit the company cash equity price standard.It is concluded that,at the level of respect for corporate autonomy,employee stock can be transferred and cashed through a standardized operation procedure within certain conditions and within a certain range.Secondly,in order to conform to the actual operation,it is also necessary to set up flexible employee stock ownership exit plan for different types of enterprises.At the same time to exit the system in the ownership of extraterritorial employees were examined and compared in this paper,from the coordination of law and industry regulations,should be combined with autonomy and restrictions and other aspects of the Countermeasures of establishing the withdrawal system of employee stock ownership in China on ESOP exit matters,to adapt to China's actual employee stock withdrawal system,the operation system our employee stock ownership system more perfect.