Structuring a compensation package with incentives that keep key people in place is an essential part of an effective business plan. Simply offering a large salary puts you in a position where a competitor can offer more – and hire the key people who know your business and your customers.

Golden Handcuff Plans are compensation packages that reward your best people in ways that will encourage them to work with you for the long term. Non-competition agreements are often interwoven with incentives so employees have significant downside risk if they move to a competitor or decide to launch a new company and take your clients.

Key Person Insurance mitigates your company’s financial loss if a key executive dies prematurely. The benefit level is usually designed to cover possible lost profits, recruiting and hiring a suitable replacement person.