Rules of Preemptive Rights for Employees of Subordinate Enterprise under the Ministry of Economic Affairs upon the Privatization of State-owned Enterprises Article 10

The Employees of Subordinate Enterprises that release all government-owned shares in a single issue during privatization, may fully subscribe the shares calculated pursuant to the amount for subscription provided in Paragraph 1, Article 7 and additional subscription shares calculated pursuant to Article 8. For Subordinate Enterprises that release the government-owned shares in more than one issue during privatization, the formula for calculating the subscription amount of the shares pursuant to Paragraph 1, Article 7 by the Employees in each issue is as follows:Number of shares that may be amount for subscription X percentage of shares releasedsubscribed by the Employees =───────────────────────────────────────in each sale percentage of shares to be further released in the privatizationThe term “percentage of shares released” shall mean the percentage of the number of shares released in a given issue to the number of shares representing the paid-in capital received in the release of government-owned shares for the first time. The term “percentage of shares to be further released in the privatization” shall mean the balance of 51% of the issued shares minus the percentage of privately-owned shares on the date of first release of government-owned shares.The number of shares available for subscription for the last time for an Employee shall be the balance of the amount for subscription in Paragraph 1, Article 7 minus the number of shares which have been subscribed by the Employees during past share issues.