Preparing board of directors meeting minutes is an important task for all types of corporations. Having accurate minutes can help avoid litigation. Also, accurate minutes assist with managing future litigation risk. To avoid litigation risk, board of directors minutes must provide an accurate record of board decisions. The minutes should also contain a record of …
Continue reading “Tips for Preparing Board of Directors Minutes”
A buy-sell agreement protects the owners of a business from unintended consequences of a co-owner’s death, retirement, divorce or disability. Moreover, subject to certain exceptions, without a buy-sell agreement, the owners of a business may sell or transfer their business ownership interest (their “Interest“) without restriction. First, a buy-sell agreement establishes:• when the co-owners of …
Under Colorado law, what corporate actions require a shareholder vote or other type of shareholder approval? The shareholders of a corporation generally have decision making power over the following corporate actions: Annually electing the members of the corporation’s board of directors Removal of a member of the corporation’s board of directors Amendment or restatement of …
Parties to a real estate transaction use a letter of intent to agree on, and describe, the important terms of a real estate transaction. The important terms of a real estate transaction are typically the financial terms and the other contract terms that have a substantial affect on one or both of the parties after …
Continue reading “Reviewing a Letter of Intent for a Real Estate Transaction”
Deferred compensation plans are used by businesses to compensate and incentivize their employees without offering the employees equity ownership in the business. A deferred compensation plan for an executive allows the business to retain talent by compensating the executive over a longer period of time such as during their retirement. The following are some common …
Continue reading “Deferred Compensation Plans – Common Types”
