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function of the joint venture agreement between Empak and MC.
Pursuant to Empak International’s shareholder agreement, Empak
sold 49 percent of Empak International’s common stock to MC for
$3,765,000 but remained the majority shareholder with a 51-
percent interest. During 1992 and 1993, Mark Bongard was
employed by Empak International as vice president of sales and
marketing.
D. Planning for Corporate Liquidity
At a meeting in 1995, decedent, Robert Boyle (Mr. Boyle),
Mr. Bernards, and Chuck Eitel (Mr. Eitel), then president of
Empak, discussed various business plans for Empak to remain
competitive in the market. Mr. Boyle began representing
decedent’s various business interests while he was an attorney at
Larkin, Hoffman, Daly & Lindgren, Ltd. (Larkin Hoffman). Mr.
Boyle left Larkin Hoffman in 1995 but continued his professional
relationship with decedent. As part of these discussions, Mr.
Boyle envisioned the necessary steps to position Empak for a
corporate liquidity event, which the discussants agreed would
provide Empak with the necessary capital to remain competitive.
A corporate liquidity event included either a public or private
offering of Empak stock. Mr. Boyle handwrote notes during this
meeting. These contemporaneous handwritten notes indicate that a
single holding company, to hold all the Empak stock owned by the
Bongard family, was going to be established as part of this
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