Provides take-out laundry services

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Reference no: EM13900478

Johnson Inc. provides take-out laundry services to hospitals and health care providers in the Northwest. It is a C-Corporation with three shareholders, all of whom work full time for the business. The three owners have been buddies and partners since high school, but now they are all north of 40. The business has 80 employees and continual growth. The owners have decided that they need some kind of "buy out" agreement in case something happens to one of them. What "triggers" would you recommend being included in the shareholders buy-sell agreement? How would you suggest structuring each trigger? Partner 1 wants to get bought out in 5 years, while partner 2 wants a long term agreement. How can you negotiate the buy out?

Reference no: EM13900478

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