Ryan owned Fire & Flex Marketing Company. Ryan hired Tyler as a sales representative and over the years promoted him first to account manager, then to customer service manager, field sales manager, vice president of sales, and finally to senior vice president of sales and purchasing. When Fire & Flex experienced serious financial problems at the beginning of 2014, Tyler was approached by another company to leave Fire & Flex and work for them.

When Tyler told Ryan he was accepting the new opportunity, Ryan asked what it would take to get him to stay. Tyler told Ryan that he needed security for his retirement and would stay if Ryan agreed to pay Tyler $500,000, if one of these three conditions occurred: (1) Fire & Flex was sold, (2) Tyler was lawfully terminated, or (3) Tyler retired. Ryan agreed to this proposal and promised to have the agreement drawn up. Tyler turned down the job opportunity and stayed with Fire & Flex for another six years until Fire & Flex was sold. Since 2014, Tyler repeatedly, but unsuccessfully, asked Ryan for a written summary of their agreement.

Upon the sale of the business, Tyler asked Ryan for the $500,000, Ryan promised to him. Ryan refused and denied ever having made such an agreement. Instead, Ryan gave Tyler a severance agreement which had been drafted by Fire & Flex's lawyers in 2014. This agreement promised two years of salary continuation on the sale of the company, but only if Tyler was not hired by the successor company. The severance agreement also required a set-off against the salary continuation of any sums Tyler earned from any activity during the two years of the severance agreement. Tyler sued Fire & Flex for the $500,000.

A. Did Tyler and Ryan have a contract for the $500,000? Provide your response in IRAC format and include all the elements/sub-elements for valid contract formation. Continue with your analysis even if you determine that one element/sub-element is not met. B. Assuming Tyler and Ryan did not have a contract, can Tyler recover the $500,000 he was promised under another theory? Provide your response in IRAC format and include all the elements/sub-elements of the theory Tyler can attempt to recover the $500,000 he was promised. Continue with your analysis even if you determine that one element/sub-element is not met.

Please perform IRAC Analysis? (Issue, Rule, Analysis, and Conclusion)