Beaver Bolt Inc. - Page 9

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            6.    The Value of Petitioner's Stock Held by the Grecco Trust                              
                  The parties agree that the fair market value of the Grecco                            
            Trust's 50 shares of petitioner was $189,300 as of June 30, 1988.                           
            7.    Grecco as a Potential Competitor                                                      
                  In 1988, Grecco was 44 years old, in good health, and had                             
            more than 20 years' (9 with petitioner) experience in the nuts,                             
            bolts, and fasteners distribution business.  Grecco's primary                               
            responsibility before she left petitioner was buying inventory                              
            and dealing with suppliers.  Previously at petitioner and at her                            
            prior jobs in the industry, she had been responsible for buying                             
            inventory and taking telephone orders from customers.                                       
                  Grecco knew petitioner's customer base, its pricing, and                              
            materials sources.  She had good rapport with vendors.  She took                            
            some sales orders over the phone, but she was not directly                                  
            responsible for sales when she left petitioner.  She also worked                            
            to collect accounts receivable.                                                             
                  Grecco organized fishing trips for some customers and                                 
            attended an annual company open house, but she had little direct                            
            contact with most customers when she left petitioner.                                       
                  Grecco substantially contributed to petitioner's success.                             
            She still lives in the Portland area.                                                       










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