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F A L L 2 0 1 6
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4.
Keep a majority (51 percent) interest in
the company. There is a big difference
between owning 49 percent, 50 percent
and 51 percent of the stock.
5.
If the company has a policy of
reimbursing the owner for certain
expenses, have the employee
acknowledge and agree to these
expenses continuing to be paid.
6.
Have the shareholder's agreement
specifically waive any fiduciary duties
that the shareholders may have by law
to each other.
In any event, an owner must seek reliable
counsel to craft the right solutions for the
situation, and to provide confidentiality
and non-compete restrictions where
necessary and appropriate.