Executive director system

Legal analysis: If the manager is also an executive director, the following clauses can be drawn up: 1. The Company does not have a board of directors, but has an executive director, who is elected/appointed/hired by the shareholders' meeting. 2. The executive director is responsible for the shareholders' meeting and exercises the following powers: (1) Convene and preside over the shareholders' meeting and report to the shareholders' meeting; (2) Implementing the resolutions of the shareholders' meeting. (3) To decide on the company's business plan and investment plan; (4) To formulate the company's annual financial budget and final accounts; (five) to formulate the company's profit distribution plan and loss compensation plan; (6) To formulate plans for the company to increase or decrease its registered capital and issue corporate bonds; (seven) to formulate plans for the merger, division, change of corporate form and dissolution of the company; (VIII) Deciding on the establishment of the company's internal management organization; (9) To decide on the appointment or dismissal of the company's financial officer and their remuneration according to the nomination of the manager; (X) To formulate the basic management system of the company. Three. The term of office of the executive director is three years. At the expiration of the term of office, the executive director may be re-elected/with the consent of the appointing party. Four. The company has a manager who concurrently serves as an executive director and is elected and appointed by the shareholders' meeting.

Legal basis: People's Republic of China (PRC) Company Law.

Article 51 A limited liability company shall set up a board of supervisors with not less than three members. A limited liability company with fewer shareholders or smaller scale may have one or two supervisors instead of a board of supervisors. The board of supervisors shall include an appropriate proportion of shareholders' representatives and employees' representatives, of which the proportion of employees' representatives shall not be less than one third, and the specific proportion shall be stipulated in the articles of association. The employee representatives in the board of supervisors are elected by the employees of the company through employee congresses, employee congresses or other forms of democratic elections. The board of supervisors shall have a chairman, who shall be elected by more than half of all supervisors. The chairman of the board of supervisors shall convene and preside over the meeting of the board of supervisors; If the chairman of the board of supervisors is unable to perform his duties or fails to perform his duties, more than half of the supervisors shall jointly nominate a supervisor to convene and preside over the meeting of the board of supervisors. Directors and senior managers shall not concurrently serve as supervisors.

Article 46 The board of directors shall be responsible to the shareholders' meeting and exercise the following powers: (1) Convene the shareholders' meeting and report its work to the shareholders' meeting; (2) Implementing the resolutions of the shareholders' meeting. (3) To decide on the company's business plan and investment plan; (4) To formulate the company's annual financial budget and final accounts; (five) to formulate the company's profit distribution plan and loss compensation plan; (6) To formulate plans for the company to increase or decrease its registered capital and issue corporate bonds; (seven) to formulate plans for the merger, division, dissolution or change of corporate form of the company; (VIII) Deciding on the establishment of the company's internal management organization; (9) To decide on the appointment or dismissal of the company manager and their remuneration, and to decide on the appointment or dismissal of the company's deputy manager and financial officer and their remuneration according to the nomination of the manager; (X) To formulate the basic management system of the company; (eleven) other functions and powers stipulated in the articles of association.