Depending on if the partners are all operators or not, you may have provision for premature quitting, retirement, death, nefarious activity, loss of license, etc. For example, in another business in which I am involved, if I lose a professional license due to illegal activity, I only get 50% of my value. If death or incapacitation happens, there is another value assigned. If you agree that it is a 10 year deal, but somebody wants to leave after 1 year, there is another value. This is because depending on the circumstances of the exit, it could force the remaining partners into situations (e.g. coming up with cash) that may not be easy. A good attorney would help guide you. You may also want to consider cross-purchase life insurance to help the buyout if somebody dies.