Strategies to Deal with ESOP Repurchase Obligation

Tim Jochim, Chair of the Business Succession/ESOP Group at Kegler Brown Hill & Ritter, Columbus, Ohio, is a national authority on employee stock ownership plans (ESOPs) and business succession. Other practice areas include corporate finance, merger/acquisition, corporate tax and employee benefits.

Mr. Jochim is a former adjunct professor of corporate finance at the Capital University School of Law, former counsel to Walter & Haverfield, LLP, Cleveland, former General Counsel of Ironton Iron, Inc., former Manager of Industrial Development for the Ohio Department of Development, and former adjunct professor of business policy at the Ohio State University.

Mr. Jochim is a trusted business advisor to corporate boards and executive officers. He has assisted clients in developing and implementing professional boards of directors and has lectured frequently to business and trade organizations on business succession and corporate governance.

Mr. Jochim is the author of Employee Stock Ownership and Related Plans, published by Greenwood Press in 1982. His articles on business transactions, corporate finance and ESOPs have been published in The Academy of Management Review (July, 1979); Personnel (November – December, 1978); Public Utilities Fortnightly (January 21, 1982), Ohio Business (October, 1988), The Journal of Employee Ownership Law and Finance (Fall, 1998), Taxation for Lawyers (September-October, 1998) and Financier Worldwide (February, 2011).

Tim Jochim is co-founder of the Ohio Chapter of The ESOP Association and a member of the legislative and regulatory committee of The ESOP Association. He has been active in the Columbus Bar Association, the Ohio State Bar Association and the American Bar Association. He is a member of various professional organizations including the Association for Corporate Growth and the National Center for Employee Ownership. He has been recognized in Marquis Who’s Who in the Midwest and in Benton’s Who’s Who and was named professional member of the year at the 25th Annual Conference of The ESOP Association in May, 2002.

Katten Muchin Rosenman LLP, Partner, Chicago, Illinois. Mr. Brown has 36 years of experience in Employee Benefits and Executive Compensation, including extensive work with ESOPs and ERISA; he has authored and co-authored numerous articles; is a frequent speaker on ESOPs and all areas of employee benefits and executive compensation; and has represented clients as an expert witness on behalf of client(s)’ ESOP/Employee Benefits Plans both regionally and nationally.

J.D., University of Illinois (1976); B.S., University of Kentucky (1973).

Mr. Callanan is a seasoned valuation professional, having advised privately held and publicly traded companies on valuation and other financial matters for nearly 20 years.

Upon graduating from DePauw University, he joined Arthur Andersen and Company in their Litigation Support and Specialty Consulting groups, primarily performing intangible asset valuations. Mr. Callanan was then recruited by Willamette Management Associates in their Chicago office. At Willamette, he performed numerous valuation assignments for domestic and international clients. After earning his MBA at The University of Chicago, JP Morgan/Chase (formerly Bank One) relocated Mr. Callanan to Columbus, OH to oversee the valuation for hundreds of trust accounts that owned minority and controlling interests in privately held companies. Mr. Callanan then spent nearly 14 years running a full-service, local office for ComStock Advisors, headquartered in Newport, KY.

For more than 15 years, he has been an Accredited Senior Appraiser in Business Valuation granted by The American Society of Appraisers (“ASA”). Mr. Callanan has been a member of the Columbus Estate Planning Council and is currently a member of the Employee Stock Ownership Association. He has lectured on valuation topics for the ASA, led seminars at banks, law firms and accounting practices, served as a guest lecturer at Capital University Law School and taught executive education for the Fisher College of Business at The Ohio State University.