Former CSC Chief Gets $11 Million

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Van Honeycutt, the longtime Computer Sciences Corp. chief executive whose retirement was announced last week, will receive an $11 million retirement package, according to a regulatory filing.


Honeycutt, who ran the company for more than a decade, will receive a retirement package that includes a one-year consulting contract worth more than $500,000, as well as full vesting of options, security services, office space and administrative assistance.


Honeycutt has already been replaced as chief executive by Chief Operating Officer Mark Laphen, who also will take over as the company’s chairman when Honeycutt’s term ends on July 30.


Shares in CSC slid $1.06, or 1.9 percent, to $55.43 in afternoon trading Tuesday on the New York Stock Exchange.

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