Describes a recently decided case in which an ESOP trustee was ordered to repay over $3 million to the ESOP because the trustee's compensation was excessive: "The decision was based both on ERISA and Delaware corporate law. Under ERISA, as outlined in a Department of Labor memo on this topic, ESOP trustees do have the responsibility to act to protect shareholder interests by considering such issues as executive compensation. While the facts here are extreme, the case highlights the importance of not allowing senior management to set its own compensation in an ESOP company. Board compensation committees or, at the least, a compensation advisor, should be use to set salaries or establish objective guidelines."  MORE >>