Presenting a complicated question about the materiality of an alleged breach under Illinois contract law, American Guardian Holdings, or AGH, claimed it was excused from having to pay the final installments — totaling $11 million — for Steven Freedman’s shares in AGH because he allegedly breached restrictive covenants in a settlement agreement.When AGH agreed to redeem Freedman’s shares it insisted on noncompetition, nonsolicitation and noninterference covenants to block Freedman, his son Max and …