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Originally Posted by Our03z4
Thank you all for the replies. Talked with him today and it was very productive. He just doesn't have the desire to stay in the line of work, too burnt out from the past business and wants to move on to a new career in something more enjoyable. Going to pay him out the rest of the year, then starting next year merge with our other business. This will reduce our costs due to having them separate and he agreed not to receive further payments. Went surprisingly well and he feels relieved along with us. Thanks again!
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I was going to suggest just buying him out, and make sure you have it all in writing and nicely part ways and make sure you put a clause in the agreement that he can not compete directly or indirectly with your business since he may have acquired knowhow and other information from your business, and also put in the agreement under no condition can he reach out to any clients for a period of 2 to 5 yrs. Since you did say he got most of his clients from a previous company you do not want him doing the same without serious legal issues coming down on him. The fact you are paying him out allows you to make that a binding deal since he getting money not to do anything in the agreement.