Sheppard v. Blackstock Lumber Co.

This appeal challenges the validity of a forfeiture-for-competitive-activities provision in a profit-sharing retirement plan.

Appellant Mr. Sheppard was for 23 years (1949 to 1972) an employee of respondent Blackstock Lumber Company. During this period he acquired a vested interest in a profit-sharing retirement plan established by respondent. In 1972, appellant left respondent’s employ and established in Seattle his own woodworking business, involving activities substantially identical to those he performed for respondent (millwork and custom woodwork). Some of his customers were or had been…