Agreement Concerning Fiduciary Engagements and Process Requirements for Employer Stock Transactions

This document is about an agreement between the Secretary of Labor and a trustee that outlines the policies and procedures to be followed when the trustee serves as a fiduciary of an employee stock ownership plan (ESOP) in connection with transactions involving the purchase or sale of employer securities that are not publicly traded. It covers the selection and use of a valuation advisor, oversight of the valuation advisor, requirements for financial statements, the fiduciary review process, and other obligations of the trustee to ensure the transactions are prudent and the employer securities are purchased or sold at fair market value.