Chapter 20 - Dad says Owen promised him more
Dad claimed Owen orally promised him an additional five-percent company interest.
If true, the $320,000 buyout could be too low.
Evidence:
Text from Owen two years earlier:
If you keep carrying this load, we’ll talk about another five after Heritage district closes.
Another:
You earned more than ten. We’ll fix after year-end.
Dad argued enforceable promise.
Trust argued:
Future discussion.
No executed amendment.
Operating agreement required written approval for equity issuance.
Could promissory estoppel apply?
Maybe if Dad relied.
What reliance?
He continued working.
But he was paid salary and ten-percent profit distributions.
Did he decline other opportunities because of promise?
Dad said yes.
No written offers.
Possible.
Could this reopen settlement?
Business settlement included broad release of all equity-related claims known or unknown through signing.
Dad’s new claim was based on texts he already possessed.
Company moved to dismiss.
Dad argued he signed under duress because criminal sentencing approached and cash flow limited.
He had counsel.
Mediation.
Independent valuation.
No threat by company beyond litigation.
The court was skeptical.
Still scheduled hearing.
Active conflict.
Then Dad completed custody and entered probation.
No contact.
He moved into a smaller apartment after separating from Paige.
No company vehicle.
No business.
He had roughly $79,000 gross settlement/estate funds before legal expenses.
He found consulting work?
Not while probation? He could.
A small contractor offered part-time procurement consulting subject to background review.
No immediate job start.
Consequences.
Then Paige finalized her separation agreement with him.
She kept her personal car.
He kept retirement.
No dramatic alimony story.
No need.
Then she sent me one letter through lawyer.
I laughed when your water broke because I thought you were being dramatic. I understood within seconds that I was wrong, and I was too ashamed to admit it.
Then:
I also believed Glenn when he said the house and company should be his to manage. I wanted that life.
Specific.
Then:
I did not know he planned to use force. I should have left when you told us to.
I believed her.
Did I forgive?
No.
Did I need revenge?
No.
I did not answer.
Then June rolled over at four months.
I cried.
Owen’s absence still arrived at every milestone.
Then Margaret called.
Dad’s five-percent claim had produced a document.
Not from Dad.
From Owen’s draft compensation plan.
Potential additional incentive equity: Glenn Hayes up to 5% subject to audit clearance, board approval, and continued service through 12/31.
Subject to audit clearance.
That condition changed everything.
May you like
Dad had left out the condition.
The claim weakened.
