Several employees have asked about the exercise policy on stock options.
Specifically, they want to know what the exercise policy is on i) termination
eg as a result of the prc process, ii) voluntary departure, iii) retirement,
or iv)resignation; and to what extent do the rules vary across plans: i)
AESOP, LTIP, deferred bonus etc. The main focus is on the length of time to
exercise. I am concerned that there may be some odd incentives in the
structure -- eg are severed employees allowed more time to exercise than
employees who just leave voluntarily ( ie if you want to have a full three
years to exercise options are you better off becoming a performance issue and
getting severed than you would be if you simply left the company?