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LITTLE ROCK, Ark. (AP) - Wal-Mart lawyers argued before the Arkansas Supreme Court on Thursday that the retailer should be allowed to break a multimillion-dollar retirement package with a former executive because he acknowledged defrauding the company. But a lawyer for former vice chairman Tom Coughlin said a lower court dismissal of Wal-Mart's claim should stand, as Coughlin didn't defraud the company while in negotiations for his retirement agreement. Lawyers in the case say the package is worth between $12 million and $15 million.
Coughlin attorney William W. Taylor III said in a perfect world, no company or person would have to sign contracts when "unaware" of potential liabilities.
"But that's not the real world and that's not what these parties wanted to do," Taylor said.
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