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Exhibit 10.27
 AMENDMENT TO THE
AMENDED AND RESTATED EMPLOYMENT AGREEMENT
 th
 BACKGROUND
  AGREEMENT




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Compensation Deferral
  Calculations and Payments
 2




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Section 409A Compliance.
     Human Resources, Compensation and Benefits
Committee of the Board of Directors of
Technical Olympic U.S.A., Inc.By:
    /s/ Michael PoulosMichael PoulosBy:
    /s/ Susan ParksSusan ParksBy:
    /s/ Larry HornerLarry Horner/s/ Antonio B. MonAntonio B. Mon 3




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EXHIBIT A TO AMENDMENT TO THE  AMENDED AND RESTATED EMPLOYMENT AGREEMENT
 FORM OF STOCK OPTION AGREEMENT
 Technical Olympic USA, Inc.
Annual and Long-Term Incentive Plan
 Non-Qualified Stock Option Agreement
 AGREEMENT
  1.
    
    Grant of Option. The Company hereby irrevocably grants to Employee the right and
option (Option) to purchase all or any part of an aggregate of 1,323,940 shares of Stock on
the terms and conditions set forth herein and in the Plan, which Plan is incorporated herein
by reference as a part of this Agreement. In the event of any conflict between the terms of
this Agreement and the Plan, the Plan shall control. Capitalized terms used but not defined
in this Agreement shall have the meaning attributed to such terms under the Plan, unless the
context requires otherwise. Notwithstanding anything contained herein to the contrary, the
grant of this Option is subject to, and contingent upon, the approval by the shareholders of
the Company of an amendment to the Plan authorizing an increase in the number of shares of
Stock with respect to which Awards may be made under the Plan to a number sufficient to cover
the Award being made pursuant to this Agreement.
 2.
    
    Purchase Price. The purchase price per share of Stock purchased pursuant to the
exercise of this Option shall be $______________.
 3.
    
    Exercise of Option. This Option shall become vested and may be exercised in
accordance with the following schedule, provided that Employee shall first provide the Company
24 hours written notice of Employees intent to exercise all or any portion of this Option,
addressed to the Companys principal executive office and to the attention of its Secretary
(or such other officer or employee of the Company as the Company may designate from time to
time):
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,
     5




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4.
    
    Withholding of Tax. To the extent that the exercise of this Option or the
disposition of shares acquired by exercise of this Option results in wages to Employee for
federal, state or local tax purposes, Employee shall deliver to the Company at the time of
such exercise or disposition such amount of money, if any, as the Company may require to meet
its minimum withholding obligations under applicable tax laws or regulations. No exercise of
this Option shall be effective until Employee (or the person entitled to exercise this Option,
as applicable) has made arrangements approved by the Company to satisfy all applicable minimum
tax withholding requirements of the Company.5.
    
    Compliance with Securities Laws.Employee agrees that the shares which Employee may
acquire by exercising this Option will not be sold or otherwise disposed of in any manner
which would constitute a violation of any applicable federal or state securities laws.
Employee also agrees that (i) the certificates representing the shares purchased under this
Option may bear such legend or legends as the Committee deems appropriate in order to assure
compliance with applicable securities laws, (ii) the Company may
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.
 6.
    
    Binding Effect. This Agreement shall be binding upon and inure to the benefit of any
successors to the Company and all persons lawfully claiming under Employee.
 7.
    
    Entire Agreement.This Agreement constitutes the entire agreement of the parties
with regard to the subject matter hereof, and contains all the covenants, promises,
representations, warranties and agreements between the parties with respect to the Option
granted hereby. Without limiting the scope of the preceding sentence, all prior
understandings and agreements, if any, among the parties hereto relating to the subject matter
hereof are hereby null and void and of no further force and effect. Any modification of this
Agreement shall be effective only if it is in writing and signed by both Employee and an
authorized officer of the Company.
 8.
    
    Governing Law. This Agreement shall be governed by, and construed in accordance
with, the laws of the State of Delaware, without regard to conflicts of laws principles
thereof.
 9.
    
    Adverse Actions or Decisions. Notwithstanding any provision of this Agreement or the
Plan to the contrary, in no event shall the Company or the Committee make any change to the
Plan or take any action authorized pursuant to the Plan which degrades or adversely affects in
any manner the rights of Employee hereunder, unless Employee consents thereto in writing.
 IN WITNESS WHEREOF
 TECHNICAL OLYMPIC USA, INC.By:
    /s/Name:Title:EMPLOYEE/s/Antonio B. Mon 7