Level 10 Completes the Sales of Their Stock to the Level 10 Employee Stock Ownership Plan (ESOP) Trust
February 15, 2017
FOR IMMEDIATE RELEASE
HOFFMAN ESTATES, Ill., February 15, 2017 – Level 10 announced that John and Christine Pruban have created the Level 10 Employee Stock Ownership Plan (ESOP) Trust and transferred their ownership into it. An ESOP is a long-term, tax-deferred retirement plan that allows all current & future employees to profit from the growth of the company by becoming stock-holding employee owners.
President, John Pruban stated, “We had been intrigued by an ESOP for several years when considering various ownership options. While other options were available, we found the ESOP to exceed all our needs, both personally and corporately. Providing our employees, who have and will help build Level 10, with ownership will ensure a longstanding legacy for the company. The ESOP was a natural extension of the efforts and cultural alignment we have built to date and allows us to transition while continuing in that quest.”
The Trust will be managed by Trustee, James R. Urbach, Esquire, of Urbach Law Group, Jacksonville, Florida, while John & Christine will remain a vital part of the Level 10 executive management and continue to guide the company into the future. The senior leadership, office locations, and market focus will currently remain in place under the ESOP to ensure a steady and growing state of the business for years to come.
About Level 10, LLC
With increasing IT challenges, Level 10 recognizes that merchants need less partners to do more. By strategically bundling services – like hardware procurement, key injection, staging & integration, maintenance, field services and service desk – Level 10 acts as an extension of retailers’ IT teams through technology deployments, store openings/closings/remodels and instore support work.