process
for - Apis & Heritage Legacy Fund employee buyout process - Apis & Heritage values the enterprise and offers seller fair price for their life work - Once purchased, they transfer the company's assets to a trust - Using private debt capital, they finance a portion of that transaction. - The trust administers the ESOP - The seller has full liquidity upfront and can retire immediately, The Legacy Fund saves seller from having to manage the complex process of selling to employees. - ESOP is a retirement account for the new employee-owhers. - After 5 years, each employee become vested, with new share allocations made each year.based on wages as a percentage of total payroll - If value of business grows, so do employee share value. - When employee-owner is ready to retire, they sell back the shares based on current valuation - new employee-owners receive training from Democracy at Work Institute (DAWI) - The trust repays debt from initial transaction on behalf of the business to Apis & Heritage and its investors who make an attractive return -