Who does the CEO/Founder trust to handle his retention agreement?
- When a company is sold, the buyer usually wants the CEO/Founder to stay available for a year or two to ease the transition.
- The CEO/Founder knows the true strength of the business is the relationships with key clients.
- The Company is great and valuable because the CEO/Founder puts customers first and has earned the trust of key clients.
- The Buyer wants the CEO/Founder to maintain those relationships of trust during the transition.
- As the CEO, wouldn’t you insist on a written contract for a multi-million dollar business deal?
- Both the Buyer and the CEO/Founder need a Retention Agreement.
- Most clients are referred by the M&A lawyers, because they recognize the conflict of interest. MAILLY LAW pays referral fees to referring attorneys.
