Fellow Essendon champion Tim Watson has revealed details of the meeting, which was arranged by club chief executive Xavier Campbell.
"He spoke to Derek and Derek said, yes, it's time. Kevin said, yes, it's time," Watson explained on SEN radio.
"He organised for them to go to his place.
"They met for the first time in 25 years and Derek was very confrontational because there are a lot of things he had on his chest that he needed to get off.
"He did, and he apparently did that in a very forcible way and in a very direct way. Kevin, apparently, was magnificent in the way he accepted that.
"They [spoke] for about half an hour, back and forward, and they buried the hatchet and moved on."