What is the name of your state (only U.S. law)? Florida
Think about adding a member (an employee) to our business. We want to give our employee a 2.5% ownership stake, with an option to buy in at another 2.5% after 24 months.
Questions/ concerns:
1. How do we keep the employee from walking away in 6 months and selling the shares to someone we may not want to be in business with? Can a Buy Sell agreement accomplish this?
2. Is the buy sell something we need to add as an amendment to the operating agreement?
Thanks in advance.
Think about adding a member (an employee) to our business. We want to give our employee a 2.5% ownership stake, with an option to buy in at another 2.5% after 24 months.
Questions/ concerns:
1. How do we keep the employee from walking away in 6 months and selling the shares to someone we may not want to be in business with? Can a Buy Sell agreement accomplish this?
2. Is the buy sell something we need to add as an amendment to the operating agreement?
Thanks in advance.