股權激勵是一種長期的制度安排，需要由不同的時間點組成。時間點的設置非常重要，既要達到企業長期激勵的目的，又要使員工覺得努力就能獲得匯報，而不是畫餅充饑遙遙無期。設計股權激勵計劃期限需要考慮以下因素：

Equity incentive is a long-term institutional arrangement, which needs to be composed of different time points. The setting of time point is very important, not only to achieve the purpose of long-term incentive, but also to make employees feel that they can get reports if they work hard, rather than making a cake to satisfy their hunger. The following factors should be considered in designing the term of equity incentive plan:

一股權激勵的授予日

1. Grant date of equity incentive

股權激勵的授予日是激勵對象實際獲得權益的日期。股權激勵的授予日的基礎是股權激勵的生效日。授予日是在股權激勵計劃經股東會通過生效后再由企業董事會制定的一個具體日期。生效日在先，授予日在后。授予日是實施股權激勵計劃的重要時點，諸如:等待期、行權期、鎖定期等時間段，一般均以授予日為起算時點。

The grant date of equity incentive is the date when the incentive object actually obtains the equity. The grant date of equity incentive is based on the effective date of equity incentive. The grant date is a specific date set by the board of directors after the equity incentive plan is approved by the board of shareholders. The effective date is prior to the grant date. Grant date is an important time point for the implementation of equity incentive plan, such as waiting period, exercise period, lock-in period and so on.

二、股權激勵的等待期

2、 Waiting period of equity incentive

股權激勵的等待期是指股權激勵對象獲取股權激勵標的后，需要等待一段時間，達到一系列事前約定的條件后，才可以實際獲得對激勵股權或激勵標的完整的無限制的處分權。這一段等待期限就是股權激勵的等待期。

The waiting period of equity incentive refers to that after the equity incentive object obtains the equity incentive object, it needs to wait for a period of time to achieve a series of pre agreed conditions before it can actually obtain the complete and unlimited right to dispose of the incentive equity or incentive object. This waiting period is the waiting period of equity incentive.

設立等待期的目的一方面是留住員工，將激勵對象長期捆綁;另一方面等待期并不是單純耗費時間的延期支付，等待期內激勵對象只有完成既定的業績目標，才能獲得激勵標的真正的完整的權益，起到激勵效果。等待期不能隨意設定，等待期的長短原則上應當與公司階段性戰略目標完成時間相一致，原則上不低于一年。

On the one hand, the purpose of setting up waiting period is to retain employees and bind incentive objects for a long time; On the other hand, the waiting period is not simply a time-consuming delay in payment. In the waiting period, only when the incentive object completes the set performance goals, can it obtain the real and complete rights and interests of the incentive object and play an incentive effect. The waiting period should not be set at will. In principle, the length of the waiting period should be consistent with the completion time of the company's phased strategic objectives, and should not be less than one year in principle.