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Mr. Pulliam discovered that Mr. Deckard had purchased the
property in Oblong and that he planned to construct and operate a
funeral home in competition with Homes. This would have caused
Homes to lose a key employee. Homes would also have lost
business in the small market area of Oblong and vicinity, and it
would have had an adverse impact on its profits.
Upon learning of Mr. Deckard's intent, Mr. Pulliam summarily
terminated his employment in July 1991. He then requested his
attorney, Max Tedford (Mr. Tedford), to prepare a formal
termination letter to Mr. Deckard.
After Mr. Deckard's employment was terminated, Mr. Pulliam
experienced some problems in the Oblong facility. He and Mr.
Tedford discussed what could be done to rectify the situation.
Mr. Tedford advised him and suggested that a negotiation meeting
with Mr. Deckard be arranged.
A meeting was held in July 1991 in Mr. Tedford's office,
attended by Mr. Pulliam, Mr. Deckard, and their wives. An
informal agreement was reached whereby Mr. Deckard would acquire
an ownership interest in the Oblong facility and would be
reemployed at a salary and bonus. The corporate minutes of
Homes, dated July 2, 1991, stated as follows:
The sole stockholder and director of Pulliam Funeral
Homes, PC., conducted a special meeting of said
Corporation at the Corporate offices at 1005 West Main
St., Robinson, Illinois, for the purpose of considering
an offer from long-time employee Earl L. Deckard to
purchase an interest in the business of Oblong,
Illinois. After consideration, it was decided that Mr.
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