Exhibit 10.56
 EMPLOYMENT AGREEMENT
 THIS EMPLOYMENT AGREEMENT
 Agreement
  Definitions .
 Employment Term and Duties .
 Employment Term .
 Duties .
      George Yeonas Employment Agreement
    
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Location .
 Compensation and Benefits .
 Base
Salary
 Benefits .
 Annual Bonus .
 Business Expenses .
 Vacation .
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Office and Support Staff .
 Termination .
 Death; Disability .
 Termination Notice .
 Termination Pay .
 Termination by the Employer for Cause; Resignation of the Employee without Good Reason or Required Notice; Resignation of the Employee by Election of
Non-Continuation.
 Termination due to Disability or upon Death .
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Termination by the Employee due to Good Reason or by the Employer without
Cause .
 Release and Waiver .
 Non-Competition and Non-interference .
 Acknowledgements .
 Covenants of the Employee .
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Covenants of the Employer .
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Non-Disclosure Covenant
 Acknowledgments by the Employee .
 Covenants of the Employee .
 Confidentiality .
 Trade Secrets .
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Removal .
 Development of Intellectual Property .
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General Provisions of Sections 5 and 6 .
 Injunctive Relief and Additional Remedy .
 Covenants of Sections 5 and 6 are Essential and Independent Covenants .
 General Provisions .
 Indemnification
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Compliance
with Section 409A.
 General .
 Distributions on Account of Separation from Service .
 6
Month Delay for Specified Employees .
 No Acceleration of Payments .
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Treatment of Each Installment as a Separate Payment .
 Taxable
Reimbursements and In-Kind Benefits .
 Tax
Gross-Ups
 Waiver .
 Successors .
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Notices .
   
   
 Entire Agreement; Supersedure .
 Governing Law; Submission to Jurisdiction; Mediation .
 (a) THIS AGREEMENT WILL BE GOVERNED BY THE LAWS OF
THE STATE OF FLORIDA WITHOUT REGARD TO CONFLICTS OF LAWS
PRINCIPLES. EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE
EXCLUSIVE JURISDICTION OF THE FEDERAL COURT IN BROWARD COUNTY,
FLORIDA, FOR THE PURPOSES OF ANY PROCEEDINGS ARISING OUT OF THIS
AGREEMENT, AND HEREBY WAIVES ALL RIGHTS TO TRIAL BY JURY AND
AGREES THAT ANY PROCEEDING SHALL INSTEAD BE DECIDED BY A JUDGE
SITTING WITHOUT A JURY.
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Severability .
 Tax Withholding and Reporting .
 Amendments and Waivers .
 Survival .
 Counterparts .
  TOUSA, Inc.By:
    
    /s/ Clint Ooten
    
    /s/ George YeonasName: Clint Ooten
    
    Name: George YeonasTitled: VP Administration & Human Resources
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Exhibit ADefinitions
 Accrued Obligations
 Affiliate
 Board of Directors
 Business
 Business Day
 Cause
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Confidential Information
    Disability
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Election of Non-Continuation
 Employment
Period
 Fiscal Year
 Good Reason
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and
 Non-Compete Period
 Pro Rata Bonus
 Termination Payment
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Exhibit B
 Employment Agreement Terms For George Yeonas
 1.
    
    Employment Period. The Employment Period referenced in Section 2.1 of the
Agreement shall begin on the Effective Date and end on December 31, 2009, unless
terminated earlier in accordance with the provisions of Section 4. This Agreement shall
automatically be renewed on the same terms and conditions for successive one (1) year
periods thereafter, each considered to be extensions of the initial Employment Period,
unless either Employer or Employee provides written notice to the other of its or his
election not to renew, such written notice to be provided at least six (6) months prior to
the expiration of the then applicable Employment Period.2.
    
    Position. The Employee will serve as Executive Vice President and Chief Operating
Officer of Employer. In this capacity, Employee will have such duties and
responsibilities as are reasonably consistent with such position or as may be assigned or
delegated to the Employee from time to time by the CEO or another executive or officer
of the Employer identified by the CEO to the Employee.3.
    
    Location. The Employees primary place of employment hereunder shall be at the offices
of the Employer or its Affiliates in the greater Hollywood, Florida metropolitan area,
unless the Employee consents otherwise in writing; provided, however, that the
Employee shall travel as reasonably necessary to perform his/her obligations and duties
to the Employer.4.
    
    Base Salary. Employee will be paid an annual salary of Seven Hundred Fifty Thousand
Dollars ($750,000), which Base Salary may be increased from time to
time during the Employment Period as set forth in Section 3.1 of the Agreement.5.
    
    Annual Bonus. For the Term of this Agreement, Employee is eligible to earn an annual
bonus, subject to the approval of the Board of Directors or relevant Board Committee.
Any bonus earned for any calendar year shall be paid in the immediately following
calendar year, as soon as practicable after the audited financial statements for Employer
for the year for which the bonus is earned have been released. The bonus amount for the
term of this agreement is One Hundred (100%) of Base Salary although this amount is
not capped and the Company may choose to increase the amount of the bonus payment at
their discretion.6.
    
    Vacation. Employee shall be entitled to Three (3) weeks of vacation per calendar year in
accordance with Section 3.5 of the Agreement.7.
    
    Notices. Any notices to be given to Employee as set forth in Section 8.4 of the
Agreement shall be to the address and facsimile number set forth in Section 8.4 of the
Agreement.
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8.
    
    Certain Additional Payments by the Employer.(a) Anything in this Agreement to the contrary notwithstanding, in the event it
shall be determined that any payment or distribution by the Employer to or for the
benefit of the Employee (whether paid or payable or distributed or distributable
pursuant to the terms of this Agreement, the Options or otherwise, but determined
without regard to any additional payments required under this Exhibit Paragraph
9) (a Payment) would be subject to the excise tax imposed by Section 4999 of
the Internal Revenue Code or any interest or penalties are incurred by the
Employee with respect to such excise tax (such excise tax, together with any such
interest and penalties, are hereinafter collectively referred to as the Excise Tax),
then the Employee shall be entitled to receive an additional payment (a Gross-Up Payment ) in an amount such that after payment by the Employee of all taxes
(including any interest or penalties imposed with respect to such taxes),
including, without limitation, any income taxes (and any interest or penalties
imposed with respect thereto) and Excise Tax imposed upon the Gross-Up
Payment, the Employee retains an amount of the Gross-Up Payment equal to the
Excise Tax imposed upon the Payments.(b) Subject to the provisions of this Exhibit Paragraph 9(c), all determinations
required to be made under this Exhibit Paragraph 9, including whether and when
a Gross-Up Payment is required and the amount of such Gross-Up Payment and
the assumptions to be utilized in arriving at such determination, shall be made by
the Employers independent certified accountant or such other certified public
accounting firm as may be designated by the Employee (the Accounting Firm)
which shall provide detailed supporting calculations both to the Employer and the
Employee within fifteen (15) Business Days of the receipt of notice from the
Employee that there has been a Payment, or such earlier time as is requested by
the Employer, In the event that the Accounting Firm is serving as accountant or
auditor for the individual, entity or group effecting a change of control, the
Employee shall appoint another nationally recognized accounting firm to make
the determinations required hereunder (which accounting firm shall then be
referred to as the Accounting Firm hereunder). All fees and expenses of the
Accounting Firm shall be borne solely by the Employer. Any Gross-Up
Payment, as determined pursuant to this Exhibit Paragraph 9, shall be paid by the
Employer to the Employee within five (5) Business Days of the receipt of the
Accounting Firms determination. Any determination by the Accounting Firm
shall be binding upon the Employer and the Employee. As a result of the
uncertainty in the application of Section 4999 of the Code at the time of the initial
determination by the Accounting Firm hereunder, it is possible that Gross-Up
Payments which will not have been made by the Employer should have been
made (Underpayment), consistent with the calculations required to be made
hereunder. In the event that the Employer exhausts its remedies pursuant to this
Exhibit Paragraph 9(c) and the Employee thereafter is required to make a
payment of any Excise Tax, the Accounting Firm shall determine the amount of
the Underpayment that has occurred and any such Underpayment shall be promptly paid by
the Employer to or for the benefit of the Employee.
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(c) The Employee shall notify the Employer in writing of any claim by the Internal Revenue
Service that, if successful, would require the payment by the Employer of the Gross-Up
Payment. Such notification shall be given as soon as practicable but no later than ten
(10) Business Days after the Employee is informed in writing of such claim and shall
apprise the Employer of the nature of such claim and the date on which such claim is
requested to be paid. The Employer shall not pay such claim prior to the expiration of the
30-day period following the date on which it gives such notice to the Employer (or such
shorter period ending on the date that any payment of taxes with respect to such claim is
due). If the Employer notifies the Employee in writing prior to the expiration of such
period that it desires to contest such claim, the Employee shall:(i) give the Employer any information reasonably requested by the Employer relating
to such claim;(ii) take such action in connection with contesting such claim as the Employer shall
reasonably request in writing from time to time, including, without limitation, accepting
legal representation with respect to such claim by an attorney reasonably selected by the
Employer;(iii) cooperate with the Employer in good faith in order effectively to contest such
claim; and(iv) permit the Employer to participate in any proceedings relating to such claim;provided, however, that the Employer shall bear and pay directly all costs and expenses
(including additional interest and penalties) incurred in connection with such contest and
shall indemnify and hold the Employee harmless, on an after-tax basis, for any Excise Tax
or income tax (including interest and penalties with respect thereto) imposed as a result
of such representation and payment of costs and expenses. Without limitation of the
foregoing provisions of this Exhibit Paragraph 9(c), the Employer shall control all
proceedings taken in connection with such contest and, at its sole option, may pursue or
forgo any and all administrative appeals, proceedings, hearings and conferences with the
taxing authority in respect of such claim and may, at its sole option, either direct the
Employee to pay the tax claimed and sue for a refund or contest the claim in any
permissible manner, and the Employee agrees to prosecute such contest to a determination
before any administrative tribunal, in a court of initial jurisdiction and in one or more
appellate courts, as the Employer shall determine; provided, however, that if the Employer
directs the Employee to pay such claim and sue for a refund, the Employer shall, to the
extent permitted by law, advance the amount of such payment to the Employee on an
interest-free basis and shall indemnify and hold the Employee harmless, on an after-tax
basis, from any Excise Tax or
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income tax (including interest or penalties with respect thereto) imposed with respect to
such advance or with respect to any imputed income with respect to such advance; and
further provided that any extension of the statute of limitations relating to payment of
taxes for the taxable year of the Employee with respect to which such contested amount is
claimed to be due is limited solely to such contested amount. Furthermore, the Employers
control of the contest shall be limited to issues with respect to which a Gross-Up
Payment would be payable hereunder and the Employee shall be entitled to settle or
contest, as the case may be, any other issue raised by the Internal Revenue Service or
any other taxing authority.(d)
    
    If, after the receipt by the Employee of an amount advanced by the Employer
pursuant to this Exhibit Paragraph 9(c), the Employee becomes entitled to receive any
refund with respect to such claim, the Employee shall (subject to the Employers complying
with the requirements of this Exhibit Paragraph 9 (c)) promptly pay to the Employer the
amount of such refund (together with any interest paid or credited thereon after taxes
applicable thereto). If, after the receipt by the Employee of an amount advanced by the
Employer pursuant to this Exhibit Paragraph 9(c), a determination is made that the Employee
shall not be entitled to any refund with respect to such claim and the Employer does not
notify the Employee in writing of its intent to contest such denial of refund prior to the
expiration of thirty (30) days after such determination, then such advance shall be
forgiven and shall not be required to be repaid and the amount of such advance shall
offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.9.
    
    Amendments to Exhibit A Definitions. Exhibit A of this Agreement shall
be amended and modified as follows:Good Reason  the definition of Good Reason shall be amended to include as an
additional item (c) the occurrence of the event of a Change of Control, as set forth
below.Change of Control means the occurrence of any of the following events,
each of which shall be determined independently of the others:(a) any Person (as defined below) becomes a beneficial owner (as such term is
used in Rule 13d-3 promulgated under the Exchange Act) of forty percent (40%) or more of
the stock of any member of the Consolidated Group (as defined below) entitled to vote in
the election of directors. For purposes of this Exhibit A, the term Person is used as
such term is used in Sections 13(d) and 14(d) of the Exchange Act; provided, however that
the term shall not include any member of the Consolidated Group, any trustee or other
fiduciary holding securities under an employee benefit plan of any member of the
Consolidated Group, or any corporation owned, directly or indirectly, by the shareholders
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(b) shareholders of any member of the Consolidated Group adopt a
plan of complete or substantial (eighty-five percent (85%) or more) liquidation or
an agreement providing for the distribution of all or substantially all of the assets
of such member;(c) any member of the Consolidated Group is party to a merger,
consolidation, other form of business combination or a sale of all or substantially
all (eighty-five percent (85%) or more) of its assets, unless the business of such
member is continued following any such transaction by a resulting entity (which
may be, but need not be, such member) and the shareholders of such member
immediately prior to such transaction (the Prior Shareholders) hold, directly or
indirectly, at least forty percent (40%) of the voting power of the resulting entity
(there being excluded from the voting power held by the Prior Shareholders, but
not from the total voting power of the resulting entity, any voting power received
by Affiliates of a party to the transaction (other than such member) in their
capacities as shareholders of such member); provided, however, that a merger or
consolidation effected to implement a recapitalization of such member (or similar
transaction) in which no Person acquires more than thirty percent (30%) of the
combined voting power of such members then outstanding securities shall not
constitute a Change in Control; or(d) any member of the Consolidated Group is a subject of a Rule 13e-
3 transaction as that term is defined in Exchange Act Rule 13e-3, and the first
purchase has been made pursuant to such transaction.Notwithstanding the foregoing, if, immediately after the occurrence of any event enumerated
above, the Continuing Directors control the majority of the Board of Directors of the
Company (or, in the case of any merger or combination in which the Company is not the
surviving entity, continue to constitute a majority of the board of directors of such
successor entity), such event shall not constitute a Change of Control for purposes of this
Agreement until such time as the Continuing Directors no longer constitute a majority of
the Board of Directors of the Company (or the successor entity, if applicable). Continuing
Directors for this purpose means the members of the Board of Directors of the Company on
the Effective Date, provided that any person becoming a member of the Board of Directors of
the Company subsequent to such date whose election or nomination for election was supported
by a majority of the directors who at the time of the election or nomination for election
comprised the Continuing Directors shall be considered to be a Continuing Director.In the event of a Change of Control, Employee may, within sixty (60) Business Days of
learning of the occurrence the event, terminate employment with the Employer by written
notice to the Employer (which definition shall include Employers successor as set forth
in Section 8.3(c) of this Agreement). The date of the Employees termination of employment
shall be specified in such notice, provided, however, that such date shall not be less
than one (1) month from the
date written notice is given to the Employer, notwithstanding anything to the contrary in
this Agreement.
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Consolidated Group shall mean (i) the group of companies composed of Technical
Olympic S.A. or the Company, and (ii) any successor or surviving company of any of the
foregoing entities.Termination Payment the definition of Termination Payment shall be amended to
include the following: in the event of termination by the Employee due to a Change of
Control, the Termination Payment shall be paid in cash to the Employee within 60 days of
the date of the Employees termination.
 Initials:
    
    GY
    
    George YeonasCO
    
    Clint Ooten
    George Yeonas Employment Agreement
    
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