TD: Knight-Swift noncompete with ex-CEO highlights old framework ahead of rule change

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TRUCKING DIVE reports:

Knight Swift Transportation Holdings’ noncompete for former CEO and President David Jackson temporarily restricts him from industry and director positions.

The executive and trucking company parted ways Feb. 26 and soon signed a deal involving $5.5 million in payouts to Jackson. Participating in the deal temporarily prevents him from working for acquisition targets, serving on Knight-Swift competitors’ boards, and competing with the carrier.

A severance agreement signed March 8 includes several restrictions lasting up to 18 months and two years, according to a securities filing from May 1. But Knight-Swift can override the noncompete provision if it chooses to do so…

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