Former McClatchy exec received $690,000 sendoff

When former McClatchy vice president of operations Lynn Dickerson left following a company restructuring last month, the news release included this warm goodbye message:

"I leave McClatchy with a heart full of gratitude for the many opportunities afforded to me and my family over the last nine years," Dickerson said. "I have been a newspaperwoman for almost 30 years and I've worked for a variety of newspaper companies. I can say without hesitation that McClatchy is the finest of them all. In spite of the difficulties of the last few years, I feel blessed to have spent my career doing meaningful work in an important industry and for such a good company. I wish my many friends at McClatchy all the best."

More facts about Ms. Dickerson's departure were revealed in a filing Wednesday with the federal Securities and Exchange Commission. Ms. Dickerson, who was formerly the publisher of McClatchy's Modesto Bee newspaper, had been in her current position since 2006.

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.

The agreement contains the following paragraph:

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.

McClatchy owns the Kansas City Star.