Three former executives with Horizon Lines Inc. agreed to plead guilty and will serve jail time for conspiring to fix prices, rig bids and set aside market shares for their customers, according to Bloomberg News Service.

The executives — Kevin Gill and Gregory Glova of Charlotte, N.C., and Gabriel Serra of San Juan, Puerto Rico — will serve jail time and pay fines, according to a company statement.

Two other shipping officials also agreed to plead guilty. Peter Baci of Jacksonville, Fla., will plead guilty to conspiracy, and Alexander Chisholm of Jacksonville is pleading guilty to destroying evidence, the Justice Department said.

In May, Charlotte-based Horizon Lines, the second largest shipping company serving Hawai'i, placed six employees on administrative leave amid a federal antitrust probe of industry pricing.