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Thank you all for the replies. Talked with him today and it was very productive. He just doesn't have the desire to stay in the line of work, too burnt out from the past business and wants to move on to a new career in something more enjoyable. Going to pay him out the rest of the year, then starting next year merge with our other business. This will reduce our costs due to having them separate and he agreed not to receive further payments. Went surprisingly well and he feels relieved along with us. Thanks again!
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