Financial Valuation of Employee Stock Ownership Plan Shares

Preface.
<p>About the Editor and Author.</p>
<p>About the Contributing Authors.</p>
<p>1. Introduction to ERISA and ERISA Plans.</p>
<p>2. Business Owner/Management Perspective.</p>
<p>3. Who Is a Good Candidate for an ESOP, and Why?</p>
<p>4. Trustee Duties in ESOPs.</p>
<p>5. Beneficial Interests, Rights of Participants, and Vesting.</p>
<p>6. Employee Benefit Perspective.</p>
<p>7. Leverage and the ESOP: A Lender s Perspective.</p>
<p>8. Independence, Objectivity, and Good Faith.</p>
<p>9. The Appraiser as a Financial Advisor.</p>
<p>10. Financial Analysis of the Sponsoring Corporation: Framing the Appraisal Assignment.</p>
<p>11. Accounting Standards and ESOPs with Debt.</p>
<p>12. Put Rights, Share Redemption Provisions, and Repurchase Obligations.</p>
<p>13. Adequate Consideration.</p>
<p>14. Control versus Minority Positions.</p>
<p>15. ESOPS and Taxes.</p>
<p>16. Shareholder Employment and Other Agreements: Phantom and Synthetic Equity.</p>
<p>17. Adjustments for Lack of Marketability.</p>
<p>18. Writing a Valuation Conclusion.</p>
<p>Appendix A: Department of Labor.</p>
<p>Appendix B: IRS Training Class Regarding Examination of ESOPs.</p>
<p>Notes.</p>
<p>Index.</p>