Rehiring a seller as an executive?

January 04, 2023
by a searcher from University of Michigan - Ann Arbor in New York, NY, USA
Hey all,
Does anyone have experience offering post-transaction employment to an owner? It seems the owner would be interested in that for a company I'm considering. Given their expertise and the company's performance, employing him may make sense for this opportunity.
The main three questions I have are as follows:
A.) Should such an offer be discussed with the seller's broker?
B.) Is there any risk to SBA financing if the prior owner is retained as an employee post-transaction?
C.) I assume it's a valid practice to make an LOI contingent on signing retention contracts with key employees, which the former owner would be in this case. Am I mistaken?
I'll appreciate any info folks may be able to share. Thanks to all in advance.
from University of Memphis in 5000 Linbar Dr, Nashville, TN 37211, USA
from California State University, Sacramento in Seattle, WA, USA