Seller employment or consulting > 1 year

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by a searcher from The University of Chicago - Booth School of Business
in California, USA

1yr ago

Seller employment or consulting > 1 year

Hi all,

Does anyone have any experience with seller consulting or employment agreements greater than one year? My understanding is that the 2024 SBA SOP allows these, but I am not clear on the specifics.

What factors make them feasible or not feasible - e.g., treatment as employment versus business services, variable pay components, term, etc.?

Thanks!

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reply by a professional 1yr ago
from University of Michigan in Detroit, MI, USA

^redacted‌, when it comes to the SBA, I would always take Lisa's advice!

reply by an intermediary 1yr ago
from The University of Chicago in Chicago, IL, USA

TMK, the only way for seller to remain involved for >12 mos., is for buyer to purchase <100% of seller company stock. I heard someone purchased 98%.