Eligible corporation For purposes of subparagraph (A)(ii)(II)— (i) In general The term eligible corporation means, with respect to any calendar year, any corporation if— (I) no stock of such corporation (or any predecessor of such corporation) is readily tradable on an established securities market (as determined under paragraph (1)(B)(iii)) during any preceding calendar year, and (II) such corporation has a written plan for such calendar year which meets the requirements of clause (ii). (ii) Plan requirements A written plan meets the requirements of this clause with respect to any calendar year if— (I) not less than 80 percent of all employees who first become employees of such corporation during such calendar year are granted stock options, or restricted stock units, with the same rights and privileges to receive qualified stock, and (II) not less than 80 percent of all employees who were employees of such corporation during the preceding calendar year hold stock options, or restricted stock units, with the same rights and privileges to receive qualified stock. (iii) Same rights and privileges For purposes of clause (ii)— (I) except as provided in subclauses (II) and (III), the determination of rights and privileges with respect to stock shall be made in a similar manner as under section 423(b)(5), (II) employees shall not fail to be treated as having the same rights and privileges to receive qualified stock solely because the number of shares available to all employees is not equal in amount, so long as the number of shares available to each employee is more than a de minimis amount, and (III) rights and privileges with respect to the exercise of an option shall not be treated as the same as rights and privileges with respect to the settlement of a restricted stock unit. (iv) Employee For purposes of clause (ii), the term employee shall not include— (I) any employee described in section 4980E(d)(4), (II) any excluded employee, and (III) with respect to any corporation for any calendar year, any individual who