The Ministry of Communications and Mass Media proposes legislation to allow Russian firms to issue options to employees
The Ministry of Communications and Mass Media has prepared a draft law on the conditions for exercising options. It is proposed to allow Russian companies to transfer gratuitously or sell their own shares and shares in the authorized capital to their employees. It is known that the project was developed at the initiative of the department.
It is planned to amend the laws "On Joint Stock Companies" and "On Limited Liability Companies" . The authors of the bill propose to introduce into these laws the concept of an option contract, which additionally regulates the relationship between the employee and the employer.
In particular, such a contract will provide in what quantity and at what price companies are going to sell their shares or shares to employees. And they will be able to keep the shares for themselves or, in turn, sell them at market prices. However, the bill also provides for the introduction of certain restrictions. For example, options may be sold to an employee if he has worked for a company for a certain time. The company may terminate the sale of options in case of non-compliance with the plan to achieve high performance.
It is assumed that the maximum share size for transfer to employees will not exceed 25%. According to the bill, the maximum duration of an option contract should not exceed 7 years.
')
“High-tech companies in the IT sector are in need of change. Most interested in them are small startups. The essence of the changes comes down to the following: startups sometimes cannot pay attracted specialists at the very beginning of their activity. The proposed changes will allow them to interest specialists in the share capital in the future, ”representatives of the Ministry of Communications and Mass Media explained to Izvestia.
The project on legal options is supported by the deputy head of the legal department “National Legal Service” Nadezhda Makarova:
“Now the most common scheme is a simple receipt from the owner of the business with the obligation to sell or donate to the employee a certain percentage of shares, shares in the authorized capital in case the desired result is achieved in sales or production. Unfortunately, in this scheme both of them understand that the obligation is a figure paper. Therefore, the introduction of a legal option mechanism will make life easier for many companies, will help to competently motivate personnel, give businesses the opportunity to develop the active efforts of interested people. ”
It is planned to amend the laws "On Joint Stock Companies" and "On Limited Liability Companies" . The authors of the bill propose to introduce into these laws the concept of an option contract, which additionally regulates the relationship between the employee and the employer.
In particular, such a contract will provide in what quantity and at what price companies are going to sell their shares or shares to employees. And they will be able to keep the shares for themselves or, in turn, sell them at market prices. However, the bill also provides for the introduction of certain restrictions. For example, options may be sold to an employee if he has worked for a company for a certain time. The company may terminate the sale of options in case of non-compliance with the plan to achieve high performance.
It is assumed that the maximum share size for transfer to employees will not exceed 25%. According to the bill, the maximum duration of an option contract should not exceed 7 years.
')
“High-tech companies in the IT sector are in need of change. Most interested in them are small startups. The essence of the changes comes down to the following: startups sometimes cannot pay attracted specialists at the very beginning of their activity. The proposed changes will allow them to interest specialists in the share capital in the future, ”representatives of the Ministry of Communications and Mass Media explained to Izvestia.
The project on legal options is supported by the deputy head of the legal department “National Legal Service” Nadezhda Makarova:
“Now the most common scheme is a simple receipt from the owner of the business with the obligation to sell or donate to the employee a certain percentage of shares, shares in the authorized capital in case the desired result is achieved in sales or production. Unfortunately, in this scheme both of them understand that the obligation is a figure paper. Therefore, the introduction of a legal option mechanism will make life easier for many companies, will help to competently motivate personnel, give businesses the opportunity to develop the active efforts of interested people. ”
Source: https://habr.com/ru/post/291122/
All Articles