Find news and information for the executive corporate security director, CSO, facility manager and assets protection manager on issues of policy, products, incidents, risk management, threat assessments and preparedness.
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36 Security Dealer & Integrator / www.SecurityInfoWatch.com October 2016 www.accesshardware.com ph: 855.847.5691 The Adaptable Design 3 Total coverage for today and tomorrow The adaptability and modular design of Schlage's AD Series Locks allows for customization for present and future application needs without removing the locks from the door. 3 Modes of Adaptable Design AD-Series Networked Wireless Locks offer the key benefi ts of a hardwired access control system without the wires – to secure doors that were traditionally diffi cult to run wires to in the past. When it comes to AD Locks, AHS is the place – as we are a major regional distributor of "All Things Schlage". Call us at 855.847.5691 or visit accesshardware.com for more details. AD-Series Standalone Locks are a cost-effective way to upgrade from traditional mechanical locking devices. They are easy to use and manage – without installing a facility- wide network. AD-Series Hardwired Locks allow instant control of a system – from locking down or unlocking one door or all doors in your facility; to adding or removing a user or viewing the status of the opening. The Adaptable Design 3 Total coverage for today and tomorrow The adaptability and modular design of Schlage's AD Series Locks allows for customization for present and future application needs without removing the AD-Series Standalone Locks are a cost-effective way to upgrade from traditional mechanical AD-Series Hardwired Locks An ESOP does not provide an imme- diate total cash payout that a standard sale may. e ESOP payout is regu- lated by law and typically takes a num- ber of years." Clark figures that in five years, Tech Systems' ESOP will have reduced its debt considerably, thereby increasing the company's stock value. "Increased stock values will mean that individual employee accounts will begin to show some attractive contributions," he says. If an ESOP sounds enticing, Pritchard strongly recommends finding professional firms with ESOP experi- ence, since the plans require in-depth understanding of tax laws. Pro-Tec budgeted what some of their professional advisors thought was more than adequate amount for the legal, financial, trustee and valu- ation expenses. "In the end, we spent double the amount bud- geted," Mach says, agreeing that an ESOP can be an expensive process. "I would strongly advise anyone entering this process to make cer- tain that there is a clear path to the goal and all the parties and their attorneys and advisors are contin- ually engaged." Clark agrees. "We were very for- tunate because we found the right people to walk us through the setup," he says. Mach advises making certain that all parties understand as much of the details of setting up an ESOP as possible. eir pro- gram trustee described the process as non-adversarial negotiation; however, Mach reminds that it is a negotiation process nonetheless, and there are built-in protections to ensure that the ESOP does not pay more than fair price. Mach lists four questions that must be answered when transi- tioning to an ESOP: 1. What is the company valua- tion based on? 2. What is the relationship of various parties involved? is list can be quite extensive: the outgo- ing owners, their legal and finan- cial representatives, their families, personal advisors, the company's attorneys and financial advisors, the outside trustee, if applicable. 3. What are the terms that need to be negotiated? 4. Who will provide the over- sight affecting the negotiation? "Take your time and do your homework," Clark says. "Find an ESOP company that Cover Story Request information: www.SecurityInfoWatch.com/10722906