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The agreement requires Mr. Rahill to assist petitioner
in the transfer of the client accounts. The agreement
provides as follows:
3. Assistance in Transfer of Accounts Rahill
does hereby agree to assist Welch [petitioner]
as reasonably needed subsequent to the effective
date of this Agreement in order to assure an
orderly and efficient transfer of accounts to
Welch. Rahill will use his best efforts to
facilitate the transfer to prevent loss to Welch.
In return for the above consideration,
Rahill will be committed to spend 40 hours
maximum, to aid in the orderly transfer of
accounts to Welch. Any time required over and
above the forty (40) hours per month Welch will
pay Rahill at a mutually agreed rate per hour.
The agreement did not require petitioner to retain any
of the persons employed by Mr. Rahill. At the time of the
agreement, Mr. Rahill employed Ms. Mary Ann Martin and
Ms. Cathy Rahill, who is Mr. Rahill's daughter. After
entering into the agreement, petitioner hired both of these
persons and two additional employees: Ms. Janet Ramsey, an
accountant, and Mrs. Dorothy Ellen Welch, petitioner’s wife
at the time, who performed bookkeeping tasks. It appears
from the record that all of these employees worked for
petitioner during both of the years in issue.
After the agreement was executed, petitioner leased
Mr. Rahill's office at 2809 Northwest Expressway directly
from the landlord. After moving, petitioner remodeled
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Last modified: May 25, 2011