My company is planning an ESOP

[Guest metmer]

Hi there this is my first time to this forum. My company has been talking to us about an ESOP. I've done research but I'm still not catching on as to how it works. The thing that perked my curiosity today was that it's time for my annual review. Each year I go to my boss (owner of the company, it's small aprox 50 employees) and I remind him we talk and I ask for something reasonable and he says okay. However, this year he told me that with the ESOP coming up that my salary will be going up considerbly but for now he'll talk it over with the other powers that be and see what they can come up with, b/c they are happy with my work. What I didn't think to ask him, is when will this take place? Does this mean I'm stuck at this salary until I retire?

So my question to anyone who takes the time to read this. How does and ESOP work and when do you get paid etc. I'm totally not grasping this. In the past I've dealt with MBS and with a company that was supposed to go public but didn't......The ESOP is something new and confusing for me. HELP!

Thank you

metmer

[RLL]

Hi metmer ---

For general information about ESOPs, check with The ESOP Association at www.esopassociation.org and the National Center for Employee Ownership at www.nceo.org and the Beyster Institute at www.beysterinstitute.org .