February 1, 2010Compensation Agreement • February 4th, 2010 • Standard Pacific Corp /De/ • Operative builders • California
This letter (this “Amendment”) will serve to amend the letter agreement (the “Employment Agreement”), dated as of March 26, 2009, between you and Standard Pacific Corp. (the “Company”) setting forth your employment arrangement with the Company for calendar years 2009 and 2010. All capitalized terms used herein and not defined shall have the meaning ascribed to them in the Employment Agreement.
February 1, 2010Standard Pacific Corp /De/ • February 4th, 2010 • Operative builders
In accordance with Section 3 of the Employment Agreement between you and Standard Pacific Corp. (the “Company”), dated as of June 1, 2009 (the “Employment Agreement”), you are eligible to participate in the bonus programs that the Company establishes for its executives from time to time. The purpose of this letter is to set forth the terms pursuant to which you will be entitled to receive Incentive Compensation (as described below) for 2010. All capitalized terms used herein and not defined shall have the meaning ascribed to them in the Employment Agreement.
