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different members of his family. See infra pp. 21-23 for further
details regarding these trusts. On December 10, 1997, decedent
gave Cynthia Bongard a 7.72-percent limited partnership interest
in BFLP. That same day, Cynthia Bongard and decedent entered
into a postmarital agreement. See infra pp. 23-24 for details of
the postmarital agreement.
Decedent died unexpectedly on November 16, 1998, while on a
business/hunting trip in Austria. Decedent was 58 years of age
and appeared to be in good health before his death.
II. Decedent’s Business Interests
A. Empak
On July 14, 1980, decedent founded Empak as a Minnesota
corporation. Decedent was assisted by Mr. Bernards, who was one
of Fluoroware’s outside accounting consultants, in incorporating
Empak. Empak is an acronym for “electronic materials packaging”.
Empak engaged in the design, development, manufacture, and
marketing of plastic products used in the semiconductor and data
storage industries. Some of Empak’s and Fluoroware’s businesses
directly competed with each other.
Decedent was Empak’s sole shareholder upon incorporation.
Empak had only one class of stock, common voting stock. When
decedent funded the ISA Trust with shares of Empak stock in 1986,
decedent’s ownership percentage decreased to 85 percent.
Decedent was also one of three directors on Empak’s board of
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