我們先來看一下股權回購的含義是什么？根據百度百科的解釋，股權回購是指有限責任公司回購股東持有的本公司股權。目的是保證異議股東的退出，實現公司的持續穩定經營。

Let's first take a look at the meaning of equity repurchase? According to Baidu Baike, equity repurchase refers to the repurchase of the Company's equity held by shareholders by limited liability companies. The purpose is to ensure the withdrawal of dissenting shareholders and achieve the continuous and stable operation of the company.

當然，這種導致股權回購產生的原因既有公司層面的原因也有個人層面的原因。所以不管是公司創始股東也好，還是在對員工進行股權激勵后的員工股東也罷，這都需要考慮到股權回購的存在，在股權激勵的一開始就要弄一份股回購協議。

Of course, there are both corporate and personal reasons for the occurrence of equity buybacks. So whether it's the founding shareholder of the company or the employee shareholder who has been incentivized with equity, it's necessary to consider the existence of equity buyback. At the beginning of the equity incentive, a stock buyback agreement should be obtained.

為什么要進行股權回購？

Why is equity buyback necessary?

如何處理離職員工手中的股權激勵？是人力資本化時代企業家都需要面對的課題。濟南合伙設計公司提醒，一般來說，在員工與公司的股權合同中，都會事先對退股條件和情形進行約定，退股時直接根據約定處理，白紙黑字，條理清晰。而合同沒有約定或約定不完善的，則需要按照法律法規處理，這樣容易產生一系列不必要的糾紛。

How to handle equity incentives in the hands of departing employees? It is a topic that entrepreneurs need to face in the era of human capital. Jinan Partnership Design Company reminds that generally speaking, in the equity contract between employees and the company, the conditions and circumstances of withdrawal will be stipulated in advance. When withdrawing, it will be handled directly according to the agreement, in black and white, with clear organization. If there is no agreement or incomplete agreement in the contract, it needs to be handled in accordance with laws and regulations, which can easily lead to a series of unnecessary disputes.

在股權激勵中，退出的機制雖說是非?；竞捅夭豢缮俚囊粋€環節，但股加加在實操的過程中卻屢屢看到企業在這方面做得不好，終帶來了不少麻煩也往往讓企業付出沉重的代價。

In equity incentives, although the mechanism of exit is a very basic and essential link, the practice of stock addition often leads to companies not doing well in this area, which ultimately brings many troubles and often makes companies pay a heavy price.

在我們服務過眾多企業的股權激勵項目中，特別是也別是高新技術企業，這些企業有一個很明顯的特征就是對人才的高度依賴，所以這種公司也造就了企業對員工股權激勵的高額使用。

Among the equity incentive projects we have served in many enterprises, especially high-tech enterprises, a clear characteristic of these enterprises is their high dependence on talent, which has also led to the high use of employee equity incentives by enterprises.

然后，股權激勵看似很簡單，但實際操作起來，在實施工程中就顯得沒那么容易了，很多企業家由于缺乏具體的實施經驗，又沒有專業人士的指引，會在這過程中屢屢掉坑，一步步陷下去，甚至還會付出高昂的成本乃至慘痛的代價。

However, equity incentives may seem simple, but in practice, they may not be as easy to implement in engineering projects. Many entrepreneurs, due to a lack of specific implementation experience and professional guidance, will repeatedly fall into the trap and even pay high or even painful costs in the process.

如果員工離職了，釋放出去的股權到底還能不能要回來？答案肯定是要的，憑什么？我們不能輕視股權的重要性，“人走股留待下任”這是股權正確的做法；“人走股走”是糟糕的做法。

If an employee resigns, can the released equity still be reclaimed? The answer is definitely yes, why? We cannot underestimate the importance of equity. 'People taking stock and leaving it to the next generation' is the correct approach to equity; It is a bad practice for people to follow the stock market.

可能有人會說，我們應該靠什么方式把這些股權拿回來呢？答案是：協議！很多企業在小的時候不重視股權，等公司慢慢做大了，才意識到股權的重要性，但是仍然會存在忽視“離職回購”的重要性，到時候后悔已來不及。

Some people may say, how should we get these equity back? The answer is: Agreement! Many enterprises do not attach importance to equity when they are young, and only realize the importance of equity when the company gradually grows larger. However, there is still a tendency to overlook the importance of 'buyback after resignation', and it is too late to regret it.

股權激勵是個綜合學科，是一個大系統，絕對不能只有“進入機制”而缺乏“退出機制”。退出機制的科學設置才能使股權激勵真正發揮效能，可以防范員工躺在股權上睡覺。

Equity incentive is a comprehensive discipline and a large system, and it cannot only have an "entry mechanism" without an "exit mechanism". The scientific setting of the exit mechanism can truly exert the effectiveness of equity incentives and prevent employees from sleeping on equity.

所以，我們在企業實施股權激勵的過程中，始終都要強調激勵與約束的雙向并行。既要做到對員工的激勵，同時也要約束好員工。這就需要企業擁有長期可動態的、可調整的股權激勵制度。

So, in the process of implementing equity incentives in enterprises, we always emphasize the bidirectional parallelism of incentives and constraints. We must not only motivate employees, but also constrain them well. This requires enterprises to have a long-term dynamic and adjustable equity incentive system.

在對員工激勵的同時必須做到對應的約束，要有約束機制的存在才不會出現“人走股走，離職不回購”的現象。當然，這種約束可能表現為對某些股東權利行使方面的限制，以及對應的考核，直至對員工股權的剝奪。更多相關事項就來我們網站http://www.newadnetwork.com咨詢！

While incentivizing employees, corresponding constraints must be implemented, and there must be a constraint mechanism in place to avoid the phenomenon of "people taking stock and leaving without repurchase". Of course, this constraint may manifest as restrictions on the exercise of certain shareholder rights, as well as corresponding assessments, up to the deprivation of employee equity. For more related matters, come to our website http://www.newadnetwork.com consulting service