Starting in 2005, the first of four sons, Bob Smith III, join the Company after graduating college. By 2009, all four boys are working for the Company. Their father, Bob Smith, Jr, (“Junior”) still maintains 100% ownership. In 2010, we start discussions regarding business succession / buy out strategies. The company now is valued around $6 Million. The real estate, which included buildings, land and adjacent property is owned by Junior and his wife. Junior’s income in 2011 was $480,000 a year with annual distributions based on a profit sharing formula we established, which included the boys on an equal basis. Total Distributions for the five of them averaged $500,000.