股权激励方案落地执行
十年股权整理解决方案落地实施

创始人想要在不控股的情况下实现对企业的控制，驾驭资本而非被资本驾驭，首先在引入资本或股权激励之前，需要未雨绸缪，早作准备，做好企业股权的顶层设计（控制权设计）。通常而言，可以通过以下方式实现“小股掌大权”：

The founder wants to achieve control over the enterprise without controlling the shares, and control capital rather than being controlled by capital. Firstly, before introducing capital or equity incentives, they need to be prepared in advance and do a good job in the top-level design of the enterprise's equity (control design). Generally speaking, "small cap control" can be achieved through the following methods:

1、股份比例和表决权比例分离

1. Separation of shareholding ratio and voting rights ratio

《公司法》第四十三条的规定：“有限责任公司股东会会议由股东按照出资比例行使表决权；但是，公司章程另有规定的除外”，也就是说，有限责任公司可以通过公司章程约定“同股不同权”，创始人可以要求投资者或者股权激励对象让渡其所持股份的全部或者部分表决权，实现表决权和分红权分离，从而既满足资本逐利本性，又能够继续实现创始人对企业的控制，从而通过较少的股份争取获得更大的投票权。

Article 43 of the Company Law stipulates that "the shareholders' meeting of a limited liability company shall exercise their voting rights in proportion to their capital contributions, except as otherwise provided in the company's articles of association.

2、通过一致行动人计划提高创始人的控制能力

2. Improve the founder's control ability through a concerted action plan

“一致行动人”即通过协议约定，某些股东就特定事项投票表决采取一致行动。意见不一致时，某些股东跟随一致行动人投票。比如，创始股东之间、创始股东和投资人可以通过签署一致行动人协议加大创始股东的投票权权重。

The 'concerted action person' refers to the agreement that certain shareholders vote unanimously on specific matters. When there is a disagreement, some shareholders vote with the concerted action. For example, founding shareholders, as well as founding shareholders and investors, can increase their voting power by signing a concerted action agreement.

3、有限合伙持股平台的引入（杠杆持股，以小搏大）

3. Introduction of Limited Partnership Shareholding Platform (Leveraged Shareholding, Fighting Small for Big)

有限合伙通过让核心创始人担任普通合伙人，从而控制整个有限合伙公司，然后通过有限合伙公司控制公司股权。其他股东只能是有限合伙的有限合伙人，不参与有限合伙管理，也就不能通过有限合伙控制公司。

A limited partnership controls the entire limited partnership company by having the core founder serve as a general partner, and then controls the company's equity through the limited partnership company. Other shareholders can only be limited partners of a limited partnership and do not participate in the management of the limited partnership, so they cannot control the company through the limited partnership.

4、AB股（牛卡计划）

4. AB shares (Bull Card Plan)

所谓AB股，即将企业股票分为两种不同类型，创始股东与投资人持有不同类型的股票。比如，我们将创始股东持有的股票称为“B类股票”，投资人持有的为“A类股票”。A类股票与B类股票的基本权利一致，但在以下三方面有区别：

The so-called AB shares refer to the classification of corporate stocks into two different types, with founding shareholders and investors holding different types of stocks. For example, we refer to the stocks held by the founding shareholders as "Class B stocks" and the stocks held by investors as "Class A stocks". The basic rights of Class A stocks and Class B stocks are the same, but there are differences in the following three aspects:

（1）持有主体：A类股票主要由投资人与公众股东持有，B类股票主要由创业团队持有。

(1) Holders: Class A stocks are mainly held by investors and public shareholders, while Class B stocks are mainly held by entrepreneurial teams.

（2）投票权：设定不同的投票权。比如，每股A类股票可以设定为1个投票权，每股B类股票设定为10个投票权（1：10的投票权比例是美股比较常见的）

(2) Voting rights: Set different voting rights. For example, each share of Class A stock can be set to 1 voting right, and each share of Class B stock can be set to 10 voting rights (a 1:10 voting right ratio is common in US stocks)

（3）转换权：A类股票无法转换为B类股票。B类股票一经转让即自动转换成A类股票。

(3) Conversion rights: A-class stocks cannot be converted into B-class stocks. B-class stocks are automatically converted into A-class stocks upon transfer.

通过上述制度安排，企业一方面可以通过出让股权对接利用外部资源，另一方面通过两级分化的投票权设计，实现创业者对公司实行有效控制，亦可以防止恶意收购。

Through the above institutional arrangements, enterprises can utilize external resources by transferring equity, and through a two-tier voting rights design, entrepreneurs can effectively control the company and prevent malicious takeovers.