Choate Construction Co. - Page 9

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            target was achieved and to split profits above the target equally                            
            four ways.  Choate rejected this plan.                                                       
                  At the time of trial, Dudley and Barrett jointly owned a                               
            construction company and Freese worked for another construction                              
                  2.    Bunyard                                                                          
                  In June 1990, Choate hired Ben Bunyard (Bunyard) to be a                               
            project manager.  Bunyard had previously worked in the                                       
            construction business, but he learned more about project                                     
            management from Choate than from anyone else.  Bunyard received a                            
            bonus in 1990.                                                                               
                  3.    Page                                                                             
                  On June 3, 1991, Choate hired David A. Page (Page) to be                               
            petitioner's chief financial officer, comptroller, and chief of                              
            computers.  Page had an accounting degree and had worked for a                               
            contractor.  He spent 15 to 25 hours each week with Choate during                            
            the first 3 months that he worked at petitioner, learning about                              
            computers, construction, and Choate's detailed cost accounting                               
            controls.  He and Choate usually reviewed checks from 4 p.m. to                              
            11 p.m. on Thursdays.  They made notes and sent them to project                              
            managers.  They reviewed the reports project managers returned to                            

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Last modified: May 25, 2011