A legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or is otherwise forced to leave the business, or chooses to leave the business.
A company pension plan in which an employee's pension payments are calculated according to length of service and the salary they earned at the time of retirement.
A defined-contribution plan is a retirement plan in which a certain amount or percentage of money is set aside each year by a company for the benefit of each of its employees. The defined-contribution plan places restrictions that control when and how each employee can withdraw these funds without penalties.
Knowing your business valuation is a critical component in the creation of a solid exit plan for your business. An accurate estimate on your business’s value provided by independent experts is vital to your future, your heirs, and any charitable plans you may have.
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