The President of the Board of Directors of joint stock companies under Law on Enterprise 2020 of Vietnam

The President of the Board of Directors of joint stock companies under Article 156, Law on Enterprise 2020 of Vietnam as follows:

Article 156. The President of the Board of Directors

1. The Board of Directors shall elect one of its members President of the Board of Directors; dismiss its President.

2. The President of the Board of Directors of a public company or a joint stock company prescribed in Point b Clause 1 Article 88 of this Law must not concurrently hold the position of Director/General Director.

3. The President of the Board of Directors has the following rights and obligations:

a) Plan the activities of the Board of Directors;

b) Draw up agenda and prepare documents for meetings of the Board of Directors; convene and chair the meetings;

c) Organize the ratification of resolutions and decisions of the Board of Directors;

d) Supervise the implementation of resolutions and decisions of the Board of Directors;

dd) Chair the GMS;

e) Other rights and obligations prescribed by Law and the company's charter.

4. In case the President of the Board of Directors is not present or not able to perform his tasks, he/she shall authorize another member in writing to perform the rights and obligations of the President of the Board of Directors in accordance with the company's charter. In case no member is authorized or the President is dead, missing, detained, serving an imprisonment sentence, serving an administrative penalty in a correctional institution or rehabilitation center, making a getaway; has limited legal capacity or is incapacitated, has difficulty controlling his/her behavior, is prohibited by the court from holding certain positions or doing certain works, one of the Board of Directors shall convene a meeting with the remaining members to elect one of them as the interim President under the majority rule until a new decision is issued by the Board of Directors.

5. Where necessary, the Board of Directors may designate the company’s secretary, who will have the following rights and obligations:

a) Assist in convening the GMS and meetings of the Board of Directors; takes minutes of the meetings;

b) Assists members of the Board of Directors in performing their rights and obligations;

c) Assists the Board of Directors in applying and implementing the business administration rules;

d) Assist the company in development of shareholder relationship, protection of lawful rights and interests of shareholders; fulfillment of the obligation to provide and disclose information and administrative procedures;

dd) Other rights and obligations prescribed by the company's charter.

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