Chapter V
EMPLOYEE POLICIES WHEN ENTERPRISES ARE EQUITIZED
Article 42. Policies on offering shares to employees
1. Discounted shares
a) People eligible to buy discounted shares include:
- Employees working under labor contracts and managers of equitized enterprises on the date of enterprise valuation.
- Employees working for equitized enterprises on the date of enterprise valuation and appointed to be representatives of capital in other enterprises that have not been eligible to purchase preference shares from other enterprises.
- Employees working under labor contracts and managers of level II enterprises that have not been eligible to purchase preference shares from other enterprises on the date of enterprise valuation in case of the enterprises mentioned in Point a Clause 2 Article 2 herein.
b) The individuals mentioned in Point a Clause 1 this Article shall be entitled to purchase up to 100 shares for each year working in state sectors with the selling price equal to 60% of the share value which is VND 10,000 per share.
c) An employee that represents a household business to receive fix funding on the date of enterprise valuation and has reached a long-term agreement on receiving fix funding with an agricultural or forestry company when converting into the JSC shall be entitled to purchase 100 shares for each year receiving fix funding with the selling price equal to 60% of the share value which is VND 10,000 per share.
d) The difference between the selling price offered to the employee and the par value of share stated in Clause 1 this Article shall be deducted from the state capital value when making statements on the official date of equitization.
dd) The employee shall hold the number of discounted shares stated herein and shall not transfer it within 3 years from the day on which preference shares are subscribed.
2. From the date of enterprise valuation, the employee working under the labor contract and the manager of the equitized enterprise that have committed to work for the enterprise for at least 3 years (from the date of obtaining the certification of first registration of JSC) shall be entitled to purchase additional shares as follows:
a) The employee shall purchase 200 shares per year but not exceeding 2,000 shares.
The employee that is a qualified expert shall be entitled to purchase 500 shares per year but not exceeding 5,000 shares. The equitized enterprise, according to characteristics of its business lines, shall develop and decide criteria for determining qualified experts that are agreed upon by the employee conference of the enterprise before carrying out equitization.
b) The selling price for the employee that wishes to purchase additional shares mentioned in Point a this Clause shall be the starting price approved by the representative authority through the equitization plan.
c) Each employee shall only be entitled to purchase additional shares according to the specific number of shares mentioned in Point a this Clause.
d) The number of additional shares that the employee purchases stated in Point a Clause 2 this Article shall be converted into common shares after the commitment term expires.
In the cases where the JSC changes structures, technology, relocate or narrow factories or stores upon request of a competent state authority that makes the employee terminate the labor contract, quit or lose his/her job according to provisions of the Labor Code before the committed term, the number of additional shares purchased shall be converted into common shares. If the employee wishes to resell the number of such shares to the enterprise, the JSC shall acquire it with the price close to the selling price on the market.
The employee that terminates the labor contract before the committed term shall resell the entire number of additional shares purchased to the JSC with the price close to the selling price on the market provided that it does not exceed the price on the date of carrying out equitization.
3. The employee carrying out restructuring to convert the enterprise into the JSC through the DATC stated in Clause 2 Article 4 herein shall apply to the policies mentioned in Clause 1 and Clause 2 this Article in accordance with specific conditions of the enterprise and the equitization plan approved by the competent authority.
4. The employee wishing to purchase additional shares apart from the shares purchased stated in Clause 1 and Clause 2 this Article shall subscribe shares from auctions in accordance with regulations as same as those applied to other investors.
Article 43. Redundancy policies
1. The employee working under the labor contract or the employee working for the equitized enterprise on the date of enterprise valuation and appointed to be the representative of capital in another enterprise and not provided a job vacancy in the JSC under the plan for managing employees shall be entitled to enjoy redundancy policies according to regulations of law.
2. The representative authority shall consider arranging a job for the enterprise manager. If the representative authority fails to provide a job vacancy, the redundant employee shall be entitled to enjoy redundancy policies applied to officials.
3. The board of members or the chairperson of the state-owned enterprise shall consider providing job vacancies for the level II enterprise manager stated in Clause 2 Article 2 herein or carry out policies in accordance with regulations of law on labor if it fails to provide a job vacancy for the redundant employee.
Tìm kiếm
Nghị định 126/2017/NĐ-CP (Bản Word)
Nghị định 126/2017/NĐ-CP (Bản Pdf)