在制定股權激勵的過程中，很多領導會忽略很多的細節，而這些細節如果隨著時間的發展關鍵后出了問題，其造成的后果卻是不可逆轉的，今天股章給大家梳理一下其中的一些關鍵細節。

In the process of formulating equity incentive, many leaders will ignore many details. If these details go wrong with the development of time, the consequences will be irreversible. Today's stock chapter will give you some key details.

在發放激勵股權的時候，存在一些一定時間內想要退出持有股權的員工，企業與員工之間需要溝通和約定合理的退出機制。不合理的操作比如企業強行設立退出條款，公司有權回購股票等，這時有一些員工會將這些激勵股權的方式看作是一種“枷鎖”，不但沒有激勵卻反而打擊了員工了工作積 極性。

When issuing incentive equity, there are some employees who want to withdraw from holding equity for a certain period of time, so the enterprise and employees need to communicate and agree on a reasonable withdrawal mechanism. Unreasonable operation, such as the enterprise forced to set up exit clauses, the company has the right to buy back shares, and so on. At this time, some employees will regard these ways of equity incentive as a kind of "shackle", which not only has no incentive, but has hit the enthusiasm of employees.

企業的目的是讓員工有責任有激 情，通過努力來和公司一起共謀長期的發展，而徐亞通過制度來規避短期內股權回報。

The purpose of the enterprise is to let employees have the responsibility and passion to work together with the company for long-term development through efforts, while Xuya evades the short-term equity return through the system.

企業應該在回購時應該充分考慮到公司的實際情況，不能一味的從公司利益來設定回報價 格。對于創業公司來說，市場估值多數時候都是高于當前價值的，因為代表的是預期以后公司的價值。

Enterprises should take full account of the actual situation of the company when they buy back, and can not blindly set the return price from the interests of the company. For start-ups, market valuation is usually higher than the current value, because it represents the expected future value of the company.