Legacy Comps/Lifetime Comps

Does anyone have policies or experiance relating to Lifetime or Legacy Comps? 

We are opening a new hall this Autumn and are finding that a few of these were issued many years ago by previous managment to a few past employees.

We moving to a smaller hall it would be helpful to know if any other companies have run into this issue or if you have policies relating to multi-year comp commitments.

Thank You.