Standard Pacific Strikes $4M Deal With Ex-Execs

Law360, New York (March 9, 2009, 12:00 AM EDT) -- Homebuilder Standard Pacific Corp. will shell out more than $3.9 million under settlement agreements that became effective last week to resolve employment-related disputes with two former executives who left the company in February.

The settlement and release agreement with Andrew H. Parnes, Standard Pacific's former chief financial officer and executive vice president, became effective on March 6, and calls for Parnes to receive a $2.4 million lump sum payment, Standard Pacific said in a Monday filing with the U.S. Securities and Exchange Commission.

The settlement and...
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