股权激励既然是激励，其目的还是以激励为主，留住人才只是一个基本的，更重要的是要让他们有"主人"的感觉，促使他们对公司发展做出长期承诺并全情投入。所以在机制设计上，切忌把激励搞成纯粹的绑定，让激励对象感觉这就是一个"手铐"，甚至还不是个"金"的！比如，有的企业的董事长/CEO，总担心看上的人会跑，心里不踏实，所以让他们掏很多钱来买股权，想着这样，一来他们不会轻易走；

Since equity incentives are incentives, their main purpose is still incentives. Retaining talent is only a basic aspect, but more importantly, it should make them feel like "masters" and encourage them to make long-term commitments and fully invest in the company's development. So in mechanism design, it is important to avoid making incentives purely binding, so that the incentive recipients feel like they are a "handcuff" or even not a "gold" one! For example, some company's chairman/CEO is always worried that the person they like will run away and feel uneasy, so they ask them to spend a lot of money to buy equity, thinking that this way, they will not easily leave;

二来即使走了，至少在股权上，也不会吃太大亏。结果给激励对象造成了这样一种感觉：这不是给我挣钱的机会，而是让我不能有随便"逃跑"的机会！这样就失去了激励的本意。对于企业创始团队，大家共同创业，从一开始就是企业主人，那该掏钱要掏点钱，但对真正的骨干员工，企业是想让他们变成企业主人，而不是他们本身就是企业主人，让他们掏很多钱，就没有太大的必要。

Even if they leave, they won't suffer too much loss in terms of equity. The result gave the incentive object a feeling that this was not giving me a chance to earn money, but rather preventing me from having the opportunity to "run away" casually! This loses the original intention of motivation. For the founding team of a company, if everyone starts a business together and is the owner of the enterprise from the beginning, they should pay some money. However, for the true backbone employees, the company wants them to become the owners of the enterprise, rather than being the owners themselves. It is not necessary to make them pay a lot of money.

所以，股权激励的设计安排，首先一定要是一个有吸引力的方案，对于激励对象而言，一定是一个他们自愿的东西。在此基础上，再来考虑激励和约束的有机统一，设定一些防范条款，如规定在上市前，或者是服务几年之内，激励对象如果离职了，不能私自转让等等。当然，这个条款也不能太过苛责，特别是在绑定周期和回购方面。

So, the design and arrangement of equity incentives must first be an attractive plan, and for the incentive recipients, it must be something they voluntarily choose. On this basis, we can consider the organic unity of incentives and constraints, and set some preventive clauses, such as stipulating that if the incentive object resigns before going public or within a few years of service, it cannot be transferred without authorization, etc. Of course, this clause cannot be too harsh, especially in terms of binding period and repurchase.

如果是大家自己掏钱买的股票，绑定周期很长，强制回购条款很苛责，就不太妥。回购条款，也应区分不同的情况做不同的安排，比如：因公伤残的，最好按照市场价值给激励对象兑现，其他一些正常的情况，给本金、利息，即使是严重违规的，最好也要返还本金，而不要没收，再怎么着这是他的权益。

If the stocks are bought by everyone themselves with a long binding period and strict mandatory repurchase terms, it is not appropriate. Repurchase terms should also be arranged differently according to different situations. For example, for those who are injured or disabled due to work-related reasons, it is best to cash in the incentive object according to market value. For other normal situations, the principal and interest should be given. Even for serious violations, it is best to return the principal instead of not collecting it. No matter what, this is their right.