Article 99. The company’s President

1. The company’s President shall be designated by the state ownership representative body as prescribed by law and has up to 02 terms of office of up to 05 years each, unless he/she has worked for the company for more than 15 consecutive years before the first designation. The requirements, dismissal of the company’s President shall comply with Article 93 and Article 94 of this Law.

2. The company’s President shall perform the rights and obligations of the state ownership representative at the company in accordance with the Law on Management and use of State Investment in Enterprises; other rights, obligations and responsibilities prescribed in Article 92 and Article 97 of this Law.

3. The Presidents’ salaries and allowances shall be recorded as the company’s administrative expenses.

4. The company’s President shall employ the company’s administration and assistance apparatus to perform his/her rights and obligations. Where necessary, the company’s President may discuss with domestic and foreign counsels before making important decisions under his/her jurisdiction. The counseling costs shall be specified in the company’s financial management regulations.

5. The decisions within the President’s jurisdiction mentioned in Clause 2 of this Article shall be made in writing and bear the President’s signature, even if the President concurrently holds the position of Director/General Director.

6. A President’s decision takes effect from the day on which it is signed or on the effective date written therein, unless it is subject to approval by the state ownership representative body.

7. In case the President is not present in Vietnam for more than 30 days, he/she shall authorize another person in writing to perform some of his/her rights and obligations. A written notification of the authorization shall be sent to the state ownership representative body. Other cases of authorization shall comply with the company’s rules and regulations.