In exchange for promises not to sue or say anything bad about the company, McClatchy paid her $690,000 and will cover insurance premiums for her and her family through August 2010.
Any prospective employers interested in hiring Ms. Dickerson can only be directed to one person at the company, according to the agreement, and that person will only tell that she worked at McClatchy, how long she worked there, the positions she held, and her salary.
Turner points to this nugget inside paperwork McClatchy recently filed with the SEC:
"Dickerson acknowledges that all materials and information received or generated by her in connection with her employment with the Company, including but not limited to customer lists, customer information, product information, trade secrets, financial information, personnel information or other Company information, computer hardware and software, credit cards and keys (each and all collectively "Company Property") are the sole property of the Company. Dickerson represents that she has returned all Company Property to the Company, and with respect to software, she has returned (or disabled) the original software and all copies in her possession. Further, Dickerson hereby reaffirms her obligation to keep confidential all such information."
And, just in case you were wondering if Lynn Dickerson might come forward and shed some light on what is happening inside McClatchy's corporate office, forget about it:
"Dickerson agrees that she will not make any statements, either oral or written, which in any way criticize or disparage the Company..."
I'm not an expert on severance packages like this. But it seems like an awful lot of legalese... maybe intended to protect the company from something? Of course I could be wrong; maybe this is just standard language that companies always use when they dump a VP. Can anybody offer perspective?