Document:

Exhibit 10.12

 

FIRST
AMENDMENT TO

AMENDED
AND RESTATED EMPLOYMENT AGREEMENT

 

THIS FIRST AMENDMENT TO
AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Amendment”) is made effective
as of the 3rd day of February, 2006 (the “Effective Date”) by and between BEAZER
HOMES USA, INC., a Delaware corporation (the “Company”), and MICHAEL H.
FURLOW, an individual resident of the State of Georgia (“Executive”).

 

WITNESSETH:

 

WHEREAS, the Company and
Executive have heretofore entered into an Amended And Restated Employment
Agreement made effective as of September 1, 2004 (the “Existing Agreement”);
and

 

WHEREAS, the Company and
Executive desire to amend certain provisions of the Existing Agreement as
provided herein.

 

NOW, THEREFORE, in consideration of the premises and
of the mutual covenants and agreements herein contained, the Company and
Executive hereby agree as follows:

 

1.     Section 6(a)(i) of the Existing
Agreement is hereby amended by deleting the second (2nd) sentence thereof and
substituting the following in place thereof:

 

“Anything contained herein to the contrary
notwithstanding, the timing of payment by the Company of any deferred
compensation shall remain subject to the terms and conditions of the applicable
deferred compensation plan and any payment election previously made by the
Executive; provided, however,
that, if at the time of Termination, Executive is a “specified employee” within
the meaning of Section 409A of the Internal Revenue Code, as amended, then
payments shall not be made before the date which is six (6) months after
the date of separation from service with the Company (or, if earlier, the date
of the Executive’s death).”

 

2.     Section 7(a) of the Existing
Agreement is hereby amended by adding New Mexico to the list of the States in
which the existing Business of the Company currently extends.

 

3.     Subsection (v) of Section 7(a) of
the Existing Agreement is hereby amended by deleting same and substituting the
following in place thereof:

 

“(v)         Be or become a shareholder, joint venturer,
owner (in whole or in part), or partner, or be or become associated with or
have any proprietary or financial interest in or of any firm, corporation,
association or other entity which is engaged in or is carrying on any business
which is similar to or in competition with the Business of the Company in the
Restricted Area (a “Competing Entity”). Notwithstanding the preceding sentence,
(A) passive equity investments by Executive of $100,000 or less in any
Competing Entity, or (B) investments, in any amount, in any publicly
traded mutual fund, index fund or similar investment vehicle which fund or
investment vehicle owns any proprietary or financial interest in any Competing
Entity, shall not be deemed to violate this Section 7(a)(v).”

 

3.     Except as and to
the extent amended hereby, the Existing Agreement is hereby ratified and
confirmed in all respects and remains in full force and effect in accordance
with the terms thereof. By signing below, the Company and Executive hereby (i) consent
to all of the terms of this First Amendment, (ii) ratify and confirm their
respective obligations under the Existing Agreement, (iii) agree that said
obligations are and shall remain in full force and effect, as amended by this
First Amendment.

 

 

IN WITNESS WHEREOF, the parties hereto have executed this FIRST AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT
AGREEMENT effective as of the date first written above.

 

	
   

  	
  BEAZER HOMES USA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
      /s/ Ian J. McCarthy

  	
   

  
	
   

  	
  Name: Ian J. McCarthy

  
	
   

  	
  Title: President and Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
  EXECUTIVE

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
      /s/ Michael H. Furlow

  	
   

  
	
   

  	
  MICHAEL H. FURLOWExhibit 10.13

 

FIRST
AMENDMENT TO

AMENDED
AND RESTATED EMPLOYMENT AGREEMENT

 

THIS FIRST AMENDMENT TO
AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Amendment”) is made effective
as of the 3rd day of February, 2006 (the “Effective Date”) by and between BEAZER
HOMES USA, INC., a Delaware corporation (the “Company”), and JAMES O’LEARY,
an individual resident of the State of Georgia (“Executive”).

 

WITNESSETH:

 

WHEREAS, the Company and
Executive have heretofore entered into an Amended And Restated Employment Agreement
made effective as of September 1, 2004 (the “Existing Agreement”); and

 

WHEREAS, the Company and
Executive desire to amend certain provisions of the Existing Agreement as
provided herein.

 

NOW, THEREFORE, in consideration of the premises and
of the mutual covenants and agreements herein contained, the Company and
Executive hereby agree as follows:

 

1.     Section 6(a)(i) of the Existing
Agreement is hereby amended by deleting the second (2nd) sentence thereof and
substituting the following in place thereof:

 

“Anything contained herein to the contrary
notwithstanding, the timing of payment by the Company of any deferred
compensation shall remain subject to the terms and conditions of the applicable
deferred compensation plan and any payment election previously made by the
Executive; provided, however,
that, if at the time of Termination, Executive is a “specified employee” within
the meaning of Section 409A of the Internal Revenue Code, as amended, then
payments shall not be made before the date which is six (6) months after
the date of separation from service with the Company (or, if earlier, the date
of the Executive’s death).”

 

2.     Section 7(a) of the Existing
Agreement is hereby amended by adding New Mexico to the list of the States in
which the existing Business of the Company currently extends.

 

3.     Subsection (v) of Section 7(a) of
the Existing Agreement is hereby amended by deleting same and substituting the
following in place thereof:

 

“(v)                           Be or become a shareholder, joint venturer,
owner (in whole or in part), or partner, or be or become associated with or
have any proprietary or financial interest in or of any firm, corporation,
association or other entity which is engaged in or is carrying on any business
which is similar to or in competition with the Business of the Company in the
Restricted Area (a “Competing Entity”). Notwithstanding the preceding sentence,
(A) passive equity investments by Executive of $100,000 or less in any
Competing Entity, or (B) investments, in any amount, in any publicly
traded mutual fund, index fund or similar investment vehicle which fund or
investment vehicle owns any proprietary or financial interest in any Competing
Entity, shall not be deemed to violate this Section 7(a)(v).”

 

3.     Except as and to
the extent amended hereby, the Existing Agreement is hereby ratified and
confirmed in all respects and remains in full force and effect in accordance
with the terms thereof. By signing below, the Company and Executive hereby (i) consent
to all of the terms of this First Amendment, (ii) ratify and confirm their
respective obligations under the Existing Agreement, (iii) agree that said
obligations are and shall remain in full force and effect, as amended by this
First Amendment.

 

 

IN WITNESS WHEREOF, the parties hereto have executed this FIRST AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT
AGREEMENT effective as of the date first written above.

 

	
   

  	
  BEAZER HOMES USA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
     /s/Ian J. McCarthy

  	
   

  
	
   

  	
  Name: Ian J. McCarthy

  
	
   

  	
  Title: President and Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
  EXECUTIVE

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
      /s/James O’Leary

  	
   

  
	
   

  	
  JAMES O’LEARYExhibit
10.14

 

FIRST
AMENDMENT TO

EMPLOYMENT
AGREEMENT

 

THIS FIRST AMENDMENT TO
EMPLOYMENT AGREEMENT (this “Amendment”) is made effective as of the 3rd day of
February, 2006 (the “Effective Date”) by and between BEAZER HOMES USA, INC.,
a Delaware corporation (the “Company”), and KENNETH J. GARY, an individual
resident of the State of Georgia (“Executive”).

 

WITNESSETH:

 

WHEREAS, the Company and
Executive have heretofore entered into an Employment Agreement made effective
as of March 14, 2005 (the “Existing Agreement”); and

 

WHEREAS, the Company and
Executive desire to amend certain provisions of the Existing Agreement as
provided herein.

 

NOW, THEREFORE, in consideration of the premises and
of the mutual covenants and agreements herein contained, the Company and
Executive hereby agree as follows:

 

1.     Section 6(a)(i) of the Existing
Agreement is hereby amended by deleting the second (2nd) sentence thereof and
substituting the following in place thereof:

 

“Anything contained herein to the contrary
notwithstanding, the timing of payment by the Company of any deferred
compensation shall remain subject to the terms and conditions of the applicable
deferred compensation plan and any payment election previously made by the
Executive; provided, however,
that, if at the time of Termination, Executive is a “specified employee” within
the meaning of Section 409A of the Internal Revenue Code, as amended, then
payments shall not be made before the date which is six (6) months after
the date of separation from service with the Company (or, if earlier, the date
of the Executive’s death).”

 

2.     Section 7(a) of the Existing
Agreement is hereby amended by adding New Mexico to the list of the States in
which the existing Business of the Company currently extends.

 

3.     Subsection (v) of Section 7(a) of
the Existing Agreement is hereby amended by deleting same and substituting the
following in place thereof:

 

“(v)                           Be or become a shareholder, joint venturer,
owner (in whole or in part), or partner, or be or become associated with or have
any proprietary or financial interest in or of any firm, corporation,
association or other entity which is engaged in or is carrying on any business
which is similar to or in competition with the Business of the Company in the
Restricted Area (a “Competing Entity”). Notwithstanding the preceding sentence,
(A) passive equity investments by Executive of $100,000 or less in any
Competing Entity, or (B) investments, in any amount, in any publicly
traded mutual fund, index fund or similar investment vehicle which fund or
investment vehicle owns any proprietary or financial interest in any Competing
Entity, shall not be deemed to violate this Section 7(a)(v).”

 

3.     Except as and to
the extent amended hereby, the Existing Agreement is hereby ratified and
confirmed in all respects and remains in full force and effect in accordance
with the terms thereof. By signing below, the Company and Executive hereby (i) consent
to all of the terms of this First Amendment, (ii) ratify and confirm their
respective obligations under the Existing Agreement, (iii) agree that said
obligations are and shall remain in full force and effect, as amended by this
First Amendment.

 

 

IN WITNESS WHEREOF, the parties hereto have executed this FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
effective as of the date first written above.

 

	
   

  	
  BEAZER HOMES USA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ Ian J. McCarthy

  	
   

  
	
   

  	
  Name: Ian J. McCarthy

  
	
   

  	
  Title: President and Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
  EXECUTIVE

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
      /s/ Kenneth J. Gary

  	
   

  
	
   

  	
  KENNETH J. GARY

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