The Orange County (California) Register has an excellent real estate blog called Lansner on Real Estate.
Stephen Scarborough, abruptly “retired” as Standard Pacific’s CEO last week, received a severance deal of $1.25 million in cash, plus 42,000 shares of restricted stock and accelerated options on 280,000 shares.
The deal with the Irvine-based home builder also included a non-disclosure agreement that said: “Executive shall not disparage the Company, its officers, directors, employees, agents, subsidiaries or affiliates” or give away any trade secrets, although he is free to testify in court if called to do so.
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