Description
Book SynopsisThis book is a reference and research guide in the valuation of transactions with stock incentives and Employee Stock Ownership Plans for accounting personnel, lawyers anc actuaries. * Explains the ins and outs of ESOPs with focus on what benefits a company/shareholder would receive by selling to an ESOP.
Table of ContentsPreface.
About the Editor and Author.
About the Contributing Authors.
1. Introduction to ERISA and ERISA Plans.
2. Business Owner/Management Perspective.
3. Who Is a Good Candidate for an ESOP, and Why?
4. Trustee Duties in ESOPs.
5. Beneficial Interests, Rights of Participants, and Vesting.
6. Employee Benefit Perspective.
7. Leverage and the ESOP: A Lender’s Perspective.
8. Independence, Objectivity, and Good Faith.
9. The Appraiser as a Financial Advisor.
10. Financial Analysis of the Sponsoring Corporation: Framing the Appraisal Assignment.
11. Accounting Standards and ESOPs with Debt.
12. Put Rights, Share Redemption Provisions, and Repurchase Obligations.
13. Adequate Consideration.
14. Control versus Minority Positions.
15. ESOPS and Taxes.
16. Shareholder Employment and Other Agreements: Phantom and Synthetic Equity.
17. Adjustments for Lack of Marketability.
18. Writing a Valuation Conclusion.
Appendix A: Department of Labor.
Appendix B: IRS Training Class Regarding Examination of ESOPs.
Notes.
Index.
