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David Ackerman and the David Ackerman Remembrance Fund

Following is a letter sent by Ken Serwinski about David Ackerman.

April 7, 2016

A few weeks ago, our ESOP community suffered one of our biggest losses. David Ackerman, attorney with Morgan Lewis, passed away after a brave fight against cancer.

When you think about the impact that David has had on our community, it is hard to speak to all of his contributions. Certainly, we know him as someone who has been involved in hundreds of ESOP transactions over the last 30+ years. We know him as very talented attorney, a tough but fair negotiator, a teacher, a counselor and in all these roles acting with the highest degree of integrity.

I had the good fortune of knowing David for over 25 years. Back in the early 1990s, the NCEO was feeling the effects of recession and was marketing themselves through in-person workshops throughout the country. There was a core group of advisors that supported the NCEO in those lean years even if it meant telling the ESOP story to small numbers of people. David felt strongly about the power that ESOPs could have in creating wealth for employees and couldn't understand why there weren't more people adopting the idea.

When you are touched by the loss of a business colleague that had a material effect on your life and on many others, you think about those ideas you shared and the interaction you will no longer have. David had a close relationship with the NCEO for a very long time. In recent conversations with Loren Rodgers, we talked about how David and the NCEO continued to ask the question - why aren't there more ESOPs?

The David Ackerman Remembrance Fund will be established to allow the NCEO to conduct specific research to try to uncover the barriers to broader employee ownership through ESOPs. David was such a kind and unassuming person he probably would be embarrassed that such a fund was being put in place in his name. I am confident, however, that its purpose is something he would support.

Your participation continues to support an organization that had a significant place in Dave's heart and continues to be an important part of the ESOP community.

Thank you in advance,

Kenneth E. Serwinski | CEO | Prairie Capital Advisors, Inc.