南京公司律师剖析：如何对创始股东合理分配股权比例

　　As a professional legal counsel for many small or medium sized companies,Nanjing Corporate Lawyer is engaged in providing best legal service to increase the added values of startups.I am pleased to see more and more startups now consider share distribution and employee incentive plan not only as tactical issues,but more as of strategic nature.I strongly suggest that partners shall be cautious while setting the shareholding structure of the company,because any changes made to such framework might require unanimous consent.In this process,partners should evaluate and balance short term gains and long term gains,finally reaching an prospective optimal solution involving game theory.For example,if a startup founder,would like to give up large proportion of shares in exchange of quick fund that he is in urgent need of,and thus it appears he saves a lot of money in a short term,will suffer from remorse caused by prospect loss in dividends and control over the company in a long run.

 

　　做了很多中小企业的法律顾问，南京公司法律师许光律师（电话微信同号17712855901）一直致力于提供最优质的法律服务，以提高中小企业的附加价值。我很高兴的看到越来越多的公司不只是把股权分配和员工激励当作是战术性的事项，而越来越把它看成是具有战略性质的事项。我本人非常建议，创始公司的股东在一开始就对于股权结构的设置非常谨慎，因为股权结构一旦确立，可能需要全体股东一致同意，才能进行修改。在这个过程中，合伙人们将会评估和权衡短期和长期收益，并且达成可预期的最佳解决方案,而这也牵涉到博弈论。比如说，如果一个很缺乏资金的创始人愿意放弃很大一部分股权来获取它急需的资金，从短期来看是利好，但从长期来看它将会后悔，因为那可能会导致他损失很多分红收益，也会损害到他的公司的控制权。

 

　　Let me take a case we dealt with as an example.Zhang owned a house near the side of the street and it is very suitable to be a company's site for operation.Wang just graduated from a foreign medical school with a M.D degree and planned to set up a dentist clinic in China.Zhang wanted to lease the house at a market price and Wang wanted to rent a house for the prospective clinic.

 

　　我举我们曾经处理过的一个案件，作为例子。张某拥有一间临街的房屋，非常适合作为公司营业场所之用。而王某刚从海外医学院毕业，获得了医学博士学位，回国想筹建一家牙科诊所。张某想把房屋以市场价格出租出去，而王某想要租用房屋作为牙科诊所用房。

 

　　When they were introduced to each other,they talked about the medical start-up and then Zhang got very interested and also wanted to invest in Wang's company.In lack of money,and after cautious considerations,Wang decided to accept that offer.Zhang also did not have much cash on hand or much deposit in the bank account,the only investment that he could offer was that he would allow the company to freely use the house as a clinic.

 

　　当他们经过他人介绍认识之后，他们谈起了这家新创诊所，而张某也表示，对投资王某的诊所非常有兴趣，王某当场也表示接受投资。不过，张某手头并没有大额的现金，在银行也没有大笔存款，能够作为出资的就是免费向公司提供房屋，作为开办诊所之用。

 

　　In normal situations,if you provide a long term house lease as a contribution to a company，you should use a reasonable way to assess the market value of such house lease,and then convert such value into cash value as recorded contribution.Zhang wanted to contribute five years house lease to the company.That means he would allow the company to freely use this house for five years without charging any rent,and from the 6th year,the rent will be charged based on market value at that time.

 

　　一般情况下，如果你向公司提供长期租约作为出资条件，就应当以合理的方式评估该租约的市场价值，将该租约转化成实际出资的金额。王某希望向公司提供五年免费租约，也就是允许公司在五年时间内免费使用房屋，从第六年开始按照市场价值支付租金。

 

　　Nanjing corporate lawyer told Wang that,in short term you and company will save a large amount of money,if you accept Wang's condition,but in the long run,five years free lease will cost you a much higher proportion of share and will make you lose control over the company.You should make a basic analysis on from which time the company will get enough funds or benefits to fully pay the marketable house lease.For example,if you suppose from the fourth year,the company has enough funds to pay the market level house lease,then you should only allow him to make a contribution worth three years house lease,that will significantly reduce his perspective proportion of share and company and you control of the company and other benefits will be guaranteed.

 

　　南京公司律师告诉王某，在短期内你和公司将会因此节约大量的现金。不过从长期来看,免费房屋租约的时间越长,这张某所占有的股权就会越多，，最终你也会失去对公司的控制权。你应该大致评估一下，公司从哪年开始能够有足够的资金支付房屋的租金，比如从第四年开始，你预估公司有足够的资金支付租金，你就只应该接受对方所提供的三年免费使用的条件作为出资，这样就有可能保留对公司的控制权。

 

　　In response to Zhang's concern about whether his investment will finally result in adequate dividends,after discussion with Wang,our legal team designed a special scheme to balance both parties interests.At first,we have stipulated in the shareholders agreement,that Zhang only offers the house lease as contribution to the company,he himself was not involved in the daily operations and decision making process of the company.

 

　　作为对张某关于他的投资能否获得足够的分红回报的回应，在跟王某讨论之后，我们法律团队提出了一个分红计划，能够平衡他们双方的利益。首先我们在股东协议书中明确约定，张某仅向公司提供房屋使用权作为出资，而不参与公司的日常经营管理，也不参与公司的重大决策。

 

　　He also authorizes Wang to exercise his shareholder's voting right.Fully authorized as CEO responsible for making strategic decisions and carrying out daily operations,Wang should be held accountable for the financial performance of the company.

 

　　他也完全授权王某行使他作为股东的投票权。王某作为首席执行官，负责进行战略规划和日常经营管理，因此应当对公司的财务表现承担完全的责任。

 

　　We set a minimum performance level,which is mainly based upon the dividends distributable created each year.As a startup,for the first two years,deficits are tolerated,but from the 3rd year,the company is required to make dividends.There are three performance levels,the minimum performance level,the excellent performance level,and the outstanding performance level.

 

　　我们设定了公司最低营收标准，它的主要依据是每年的可分配的红利。作为一家新创公司，在它创立的前两年出现亏损是可以容忍的。在第三年开始这家公司就要求创造利润，我们设定的三级营收标准，最低营收标准，良好营收标准和和优秀营收标准。

 

　　Once the chief executive officer reaches a high level,he will be distributed higher proportion of dividends,and the dividends distributed to Zhang will be accordingly reduced.Furthermore,if the CEO cannot reach the minimum performance level,his personal bonuses will be cancelled,and if there are any dividends created,Zhang is entitled to be distributed the dividends prior to wang,until his perspective benefit he would have gained if the company performance had reached the minimum performance level is fully satisfied.

 

　　如果当首席执行官带来的公司营收达到了较高的标准，他所获得分配的红利的比例也会较高，而张某所获得分配的红利比例则相应下降。如果当首席执行官没有办法达到最低标准，是他的个人奖金将会被取消，同时如果存在任何盈利，首先向张某进行分配，直到营收达到最低标准时张某本应获得的红利完全满足为止。

 

　　Nanjing corporate lawyer suggest that founding partners should make a balance in distributing the shares,as they will play different roles in the company and provide different forms of assets as contributions.Sometimes,the performance assessment criteria should be introduced as a method to decide the proportion of dividends to be distributed respectively.

 

　　南京公司律师建议，创始合伙人应当在分配股权比例时平衡双方之间的利益，这取决于双方在公司扮演的不同角色，以及以不同形式向公司所提供的出资。有时我们会引入公司绩效评估标准以决定相应的红利分配。