Ronald L. DeVault - Page 5

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          Modern,6 but worked at the end of the day at Union Machine to               
          help Mr. Turner with certain jobs.  In mid-1997, petitioner began           
          working full time at Union Machine because of its increased                 
          workload.  Petitioner received an annual salary of $90,000 plus             
          yearend bonuses.  In addition to petitioner and Mr. Turner, Union           
          Machine employed one full-time employee and some part-time                  
               Around 1998, petitioner began experiencing personal                    
          hardships.  On one occasion, Union Machine loaned petitioner                
          $6,000 to pay his tax liability to the IRS.  In addition, Mrs.              
          DeVault filed for divorce after 30 years of marriage to                     
          petitioner.  Petitioner needed money to repair his house to sell            
          in the divorce.  Union Machine lent him $16,000 for the repairs.            
               Petitioner’s personal hardships also began to negatively               
          affect his work performance at Union Machine, as well as his                
          business relationship with Mr. Turner.  By late 1998, petitioner            
          left the employment of Union Machine.7  Petitioner stopped                  
          receiving any form of compensation from Union Machine and was no            
          longer involved with its business-related matters.  Around this             

               6  Petitioner continued to work at Modern because Union                
          Machine received most of its business from Modern.                          
               7  Petitioner believed that Mr. Turner asked him to leave              
          because Mr. Turner was concerned that Mrs. DeVault would pursue             
          an interest in Union Machine.  On the other hand, Mr. Turner                
          believed that petitioner was only taking a temporary leave of               
          absence.  Nevertheless, they agree that petitioner left the                 
          employment of Union Machine in late 1998.                                   

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