Chutes & Ladders: Ex-COO gives Motorola $11.5M

Motorola has settled its noncompete lawsuit with former president and COO Mike Zafirovski, who will pay back $11.5 million of his severance package to Motorola to settle the company's original claim that he signed eight noncompete agreements and received $17 million for them. Both Zafirovski and Nortel were party to the settlement, and Nortel has agreed to reimburse Zafirovski for the $11.5 million. The settlement also restricts Zafirovski from sharing Motorola trade secrets and does not allow him or Nortel to recruit Motorola employees "under certain circumstances." Zafirovski also agreed to limit his communications with specified companies, including many Nortel customers, until July 2006. Zafirovski must also immediately inform Motorola of a new employer's identity, title and duties at his new company until the end of July 2007.

For more on the Zafirovski, Motorola settlement:
- see this piece from The Globe and Mail

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