Employee participation programs are becoming increasingly
popular and can take a wide variety of forms. Such employee
participation programs may range, for example, from purely
debt-based participation in the employer's profits and/or
liquidation proceeds to ordinary voting shares.
In the following, we briefly summarize the most common employee
participation programs in simplified form, whereby it is assumed
that the employer operates as a Liechtenstein stock corporation
(AG):
1. Virtual Stock Option Program (VSOP)
The Articles of Association of a Liechtenstein stock corporation
(AG) may provide for the creation of profit participation
certificates ("Genusscheine") for the benefit of
employees, among others.
