Chief Industries, Inc. and Subsidiaries - Page 6

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          matters, his removal as petitioner’s chairman and CEO.  V.                  
          Eihusen on several occasions also communicated with First                   
          National representatives and objected to First National, in its             
          role as the ESOP’s trustee, voting the ESOP’s shares in                     
          petitioner as directed by the ESOP committee because of what he             
          believed was the ESOP committee’s conflict of interest.  First              
          National continued receiving directives from the ESOP committee             
          with respect to voting the ESOP’s shares in petitioner.  The                
          voting maintained V. Eihusen’s lack of control of petitioner’s              
          board and management.                                                       
          3.   ESOP Litigation                                                        
               Because it was receiving conflicting directives from the               
          ESOP committee and from V. Eihusen, First National on October 11,           
          1994, filed a lawsuit in the U.S. District Court for the District           
          of Nebraska (ESOP litigation), under the caption “First National            
          Bank of Omaha, as Trustee of the Chief Industries, Inc. Employee            
          Stock Ownership Plan and Trust, Plaintiff vs. Chief Industries,             
          Inc.; Robert G. Eihusen, Linda M. Berney, David Schocke, Barbara            
          Saladen, as members of the Administration Committee of the Chief            
          Industries, Inc. Employee Stock Ownership Plan; Virgil R.                   
          Eihusen, Individually; and Robert G. Eihusen, Individually,                 
          Defendants”.  First National essentially sought through this                
          lawsuit a declaratory judgment that it might vote the shares in             
          petitioner held by the ESOP in accordance with the specific                 






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