Ali adjusted partnerships: 60 years old natural retirement, except for Ma Cai-Alibaba, Ali listed Alibaba-IT news
Ali adjusted partnerships: 60 years old natural retirement, except for Ma Cai

September 6 news, in latest version offering book in the announced "partner" members 27 variable 301 thing outside, Alibaba Group also on "partner" system of description and provides for has four items adjustment, this four items adjustment involving "partner Committee" (Partnership Committee), and added "partner" type description, and "partner" retired mechanism adjustment, and and soft silver and Yahoo reached of voting agreement adjustment.

The "partners ' Committee"

Alibaba "partners ' Committee" is responsible for nominating partners, managing partners, welfare and other matters. In the latest version of the prospectus (September 5), Alibaba would "partners ' Committee" members qualify for a minimum of 5, and August 27, this description is not available in their prospectuses. This means, the company might increase in the future, "partners ' Committee" members.

The "partners ' Committee" members to re-election once every 3 years, they may repeat for a second term. Each time before re-election, the "partners ' Committee" will nominate candidates, 3 more than the required number of partner, all the partners voted at least 3 candidates number of votes cannot enter the "partners ' Committee".

? September 5--new "partners ' Committee" description

? August 27--the old "partners ' Committee" description

"Partners" in the description of the system about Ali voting agreement with SOFTBANK, Yahoo

Ali "partners" have the sole right to nominate more than half of the Board members, nominees must be approved by company shareholders voted, if shareholders do not occur by Ali "partners" accidents such as nominating director candidates, Ali "partners" may appoint a temporary Director and renominate a group of candidates at the next general meeting of shareholders.

In order to ensure that Ali "partners" to nominate directors at the shareholders ' meeting approved, Alibaba and SOFTBANK with Yahoo signed a voting agreement, namely, the two major shareholders of SOFTBANK and Yahoo need to aliali "partners" nominee directors, voted in favour of it. These are contents of a prospectus as of August 27, Alibaba.

? August 27--the old Yahoo SOFTBANK Ali voting agreement

However, on September 5 editions in their prospectuses, Alibaba has joined this sentence: "as long as the SOFTBANK stake not less than 15%, SOFTBANK and Yahoo needs to aliali" partners "nominee directors, voted" (below the red line).

▲ Ali on September 5--new SOFTBANK Yahoo voting agreement

New "partner" type descriptions and retirement mechanisms

Alibaba, August 27 prospectus showed that Ali's partners fall into two categories, one is the general partner (the partners), one is Ma and Tsai. Jack Ma and Tsai is the difference between general partners and general partners if they do not work for the Ali group or associated companies, can no longer act as partner, while Ma and Tsai were not affected by the restrictions.

? August 27--older retired partner requirements

Ali Baba September 5 version of the prospectus will not only increase the general partner (the partners), permanent partners (continuity partners), Honorary Associates (Honorary partners) description of the three types, limited partners except the permanent partner needs to retire at 60.

Ma and Tsai is currently the only two permanent partners. Permanent partner only through the permanent partner of the new appointments on the way. General partner after retirement may be appointed as honorary partner, honor partner may obtain "partners ' Committee" responsible for managing executives and partners reward benefits.

? September 9 Edition--new partner retirement provisions

Modify the Alibaba "partner" agreement program

Modify the Alibaba "partner" agreement program requires all "partners" to vote, over 75% of "partners" in favour of revising the can be modified.

However, on September 5, version of the prospectus, Alibaba will need "all the partners voted" with the words "at least 75% partner" participating in the vote.

? August 27--the old "partners" system to modify the program

? September 5--new "partners" system to modify the program