March 7, 2011Standard Pacific Corp /De/ • March 8th, 2011 • 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 for 2011 and to amend your Employment Agreement, all as set forth below. All capitalized terms used herein and not defined shall have the meaning ascribed to them in the Employment Agreement.
