I was looking for a solution for a pilot Leadership Development program we were creating for a select group of high potential leaders. We required a customized solution as we wanted to keep it relevant to the reality of our business and the various levels of our...
The repurchase obligation (or repurchase liability) is the legal obligation of a privately-held ESOP company to buy back shares of company stock from participants upon a Distributable Event. Unlike other retirement plans, which invest in a diversified portfolio of...
Although the United States has a rich history of allowing and encouraging employee ownership, our nation is not the only one in the world with laws that enable and govern employee ownership of companies. Even the former USSR countries have gotten into the action and...
Employee-owned companies have existed in the United States in one form or another since the mid-1800’s. In those early days, companies like Sears & Roebuck and Railway Express Agency were visionary in their actions and compassionate in their intent to give their...
Every ESOP looks for efficiencies to improve productivity on the administration side of the business and to enhance communication with employees. So you need to consider an Administration Services Platform that integrates your employees’ 401(k) and ESOP information....
Congratulations are in order for the team of Butterfield Schechter LLP. On November 2, 2017, the firm announced that they had received a San Diego Tier 1 ranking in the 2018 Edition of U.S. News – Best Lawyers "Best Law Firms" for the Employee Benefits (ERISA) Law...
The Problem In 1975, our client acquired one of the largest distribution companies in their industry. He had been the sole owner of this Houston-based company for 42 years, built a strong management team, and structured the organization as a C-Corporation. The...
If you've spent most (or all) of your professional career building a small- to mid-size business, and you've reached the point where you need to consider the "exit," then you’d be doing yourself a disservice if you failed to consider an Employee Stock Ownership Plan,...
Jay has a clear understanding of the M&A process involved in ESOP transactions used for exit plan and a financing tool for acquisitions along with his ERISA expertise. This is unique and important because many ERISA attorneys have difficulty understanding the...
Jay has represented me in my capacity as an ESOP trustee, drawing up plan and trust documents as well as transaction documents, he provides legal due diligence reviews for transactions; he has advised & assisted with transaction negotiations, and he can handle...