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Nortel CEO To Pay $11.5M In Trade Secrets Settlement

Law360 (November 1, 2005, 12:00 AM EST) -- A former Motorola president and chief operating officer will pay the company $11.5 million and agree not to disclose trade secrets in his new post as chief executive of Canada's Nortel Networks Corp., under the terms of a settlement of a lawsuit brought by Motorola.

The settlement prohibits Mike Zafirovski from contacting certain customers and from using his knowledge of Motorola to devise a competition strategy for Nortel.

Nortel said it would reimburse Zafirovski for the $11.5 million he will pay Motorola.

According to R. Mark...
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