We are pleased to present an overview on key practical and strategic aspects of employee stock ownership plans (ESOPs) that business owners, and their counsel, should consider in formulating their exit planning strategies.
 
An ESOP is a qualified, defined contribution employee benefit plan that invests primarily in the stock of the employer company.  An ESOP provides a highly tax-efficient vehicle for a business owner to sell all or a portion of a business that may be otherwise illiquid or has no established market, thereby permitting the business owner to diversify his asset holdings and significantly reduce investment risk. An ESOP is also an employee benefit plan that can be instrumental in attracting and retaining key personnel.
 
Join Kenneth Pia of Meyers, Harrison & Pia, LLC, based in New Haven, and Stanley Bulua of Danziger & Markhoff LLP, based in White Plains, as they explain the overall structure of a leveraged ESOP transaction, including the objectives of an ESOP, the tax benefits available in an ESOP transaction, the financing aspects of an ESOP transaction and the special ESOP valuation requirements.

Date: Friday, April 30, 2010
Time: 7:30 – 9:00 AM
Location: The Hartford Club, 46 Prospect Street, Hartford, CT
Cost: $35 (Registrations at the door an additional $15)

Kenneth J. Pia, Jr. is the partner in charge of Meyers, Harrison & Pia’s valuation and litigation services group, including: business/medical practice analysis and valuations, litigation services, economic damage determination studies, investigatory accounting, strategic and tax planning for business and medical practices, mergers and acquisitions.  Ken has been engaged in business and professional/medical practice appraisal and analysis since 1985.  He conducts valuation studies of entire businesses and partial business interests and has appraised companies in a broad range of industries for purposes of marital dissolution, employee stock ownership plan (ESOP) implementation, purchase/sale, buy-sell and other stockholder agreements, estate/gift/income tax, stockholder dissension, damage determination, etc.  Ken has also been involved in many actual mergers, acquisitions or sales of closely held businesses and medical practices, including many ESOP transactions.

Stanley E. Bulua is a partner at the law firm of Danziger & Markhoff LLP.  Mr. Bulua has been practicing law for thirty years and concentrates in the areas of ESOPS, estate planning, estate administration and income tax.  Stan has overall responsibility for the firm’s ESOP practice which includes representation of ESOP sponsors and ESOP trustees as well as third-party administration of ESOPs. He is nationally recognized in the ESOP area, has lectured to professional groups on this topic and has vast experience in the design and implementation of ESOPs to deal with a broad range of business succession issues.