Beware the noncompete clause
Before you lift a pen to sign a noncompete clause -- legal restrictions commonly used to rein in job-hopping executives -- consider the cautionary tale of Marty Kaplan, the former CTO of Sprint.
Kaplan has recently taken a new position as CEO of Teon, an optical equipment supplier. But landing that position came only after months of legal wrangling with Sprint over a noncompete clause Kaplan had signed.
In October, Kaplan resigned from Sprint, his employer for 28 years, after a proposed merger between the telecom company and WorldCom fell apart. Kaplan planned to join WorldCom as its president of operations, but Sprint put its corporate foot down, and a Kansas district court judge upheld Sprint's request for a temporary injunction.
"WorldCom said they could no longer wait for me to take it to trial," Kaplan said. So he moved on.
» posted by ITworld staff
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