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Exhibit 10.04  

 
 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT    
    

        THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this "Agreement") is made effective as of the 1ST day of September, 2004 (the "Effective
Date") by and between BEAZER HOMES USA, INC., a Delaware corporation (the "Company"), and LOWELL BALL, an individual resident of the State of Georgia ("Executive"). 

WITNESSETH: 

        WHEREAS,
the Company and Executive have heretofore entered into an Employment Agreement dated November 7, 2000 (the "Existing Agreement"); and 

        WHEREAS,
the Company and Executive desire to amend certain provisions of, and to restate in its entirety 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.    Employment and Duties.    

        (a)   The
Company hereby agrees to employ Executive for the Term (as hereinafter defined) as its Senior Vice President, General Counsel. If requested by the Board of Directors
of the Company (the "Board"), Executive shall also serve on the Board without additional compensation. Executive shall also
serve, if requested by the Board, as an executive officer and/or director of any subsidiaries and/or affiliated companies and shall comply with the policy of the Compensation Committee of the Board
(the "Compensation Committee") with regard to retention or forfeiture of any director's fees. As used in this Agreement, the term "affiliated companies" shall include any company controlled by,
controlling or under common control with the Company. 

        (b)   The
Executive shall have such management and oversight responsibilities and authority as are necessary to efficiently administer the affairs of the Company and as are
customary of a Senior Vice President, General Counsel. All powers herein granted to the Executive are subject to supervisory approval of (i) the Board, (ii) the President and Chief
Executive Officer of the Company (the "CEO"), and (iii) any other officers of the Company as are from time to time designated by the CEO, and the Executive may be given such further reasonably
related supervisory duties, powers and prerogatives as may be delegated to him from time to time by said Board and/or the CEO and/or such other officers. The Executive shall render such advice to the
CEO and Board as said CEO and/or Board may from time to time request. 

        (c)   During
the Term, and excluding any periods of vacation and sick leave to which the Executive is entitled, Executive shall devote substantially all of his business time
and efforts to the business and affairs of the Company and, to the extent necessary to discharge the responsibilities assigned to the Executive hereunder, use the Executive's reasonable best efforts
to perform faithfully such responsibilities. In performing such duties hereunder, Executive shall comply with the policies and procedures as adopted from time to time by the Board, shall give the
Company the benefit of his special knowledge, skills, contacts and business experience, shall perform his duties and carry out his responsibilities hereunder in a diligent manner. 

        (d)   During
the Employment Term, it shall not be a violation of this Agreement for the Executive to (i) with the prior approval of the Board in each case, serve on
corporate, civic or charitable boards or committees, (ii) with the prior approval of the Board in each case, deliver lectures, fulfill speaking engagements or teach at educational institutions,
and (iii) manage personal investments, so long as such activities do not significantly interfere or constitute a conflict 

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of
interest with the performance of the Executive's responsibilities as an employee of the Company in accordance with this Agreement. 

        (e)   The
principal location for performance of Executive's services hereunder shall be at the offices of Beazer Homes USA, Inc. which are currently located in Atlanta,
Georgia, subject to reasonable travel requirements during the course of such performance. In the event circumstances require a change in such location to another city, Executive shall have not less
than three (3) months advance notice of the effective date of the relocation. 

        2.    Employment Term.    The term of Executive's employment hereunder (the "Term") shall
commence effective as of the date hereof and shall end on August 31, 2005, unless sooner terminated as provided herein; provided,  however; that the
Term shall automatically be extended for successive one year periods unless: (i) this Agreement is terminated as otherwise
provided herein; or (ii) Executive or the Company provides written notice to the other of such party's desire not to extend the Term at least sixty (60) days prior to the scheduled
expiration of the Term as then in effect. 

        3.    Compensation and Benefits    

        (a)   Base Salary.    During the Term, the Executive shall receive an annual base salary ("Annual Base Salary") in
the amount of $200,000.00 payable in accordance with the Company's normal payroll practices (but not less frequently than monthly). During the Term, the Annual Base Salary shall be reviewed by the
Compensation Committee (for purposes of increase only) at least annually. Any increase in Annual Base Salary shall not serve to limit or reduce any other obligation to the Executive under this
Agreement. Annual Base Salary shall not be reduced after any such increase and the term Annual Base Salary as utilized in this Agreement shall refer to Annual Base Salary as so increased.
Notwithstanding anything contained herein to the contrary, in the event that the Company shall implement a Company-wide reduction in executive base compensation, then, solely for such
purpose and only during the continuation of such Company-wide reduction, the Company shall have the right to reduce the Annual Base Salary then payable hereunder in a manner that is
consistent with said Company-wide reduction. 

        (b)   Bonuses; Stock Incentive Plans.    Executive will be eligible to and shall participate in the Company's bonus
and stock incentive plans at the discretion of the Compensation Committee of the Board. The amount and terms of, and the targets, conditions and restrictions applicable to each bonus or other
incentive award shall be subject to the provisions of any such plan and of the applicable award letter duly executed and delivered by the Company. 

        (c)   Incentive, Savings and Retirement Plans.    During the Term, the Executive shall be entitled to participate in
all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies. 

        (d)   Welfare Benefit Plans.    During the Term, the Executive and/or the Executive's family, as the case may be,
shall be eligible for participation in and shall receive all benefits under welfare benefit plans, practices, policies and programs provided by the Company and its affiliated companies (including,
without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other
peer executives of the Company and its affiliated companies. 

        (e)   Expenses.    The Company will pay or reimburse Executive for all reasonable and necessary
out-of-pocket expenses incurred by him in the performance of his duties under this Agreement. Executive shall keep detailed and accurate records of expenses incurred in
connection with the performance of his duties hereunder and reimbursement therefore shall be in accordance with policies and procedures to be established from time to time by the Board. 

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        (f)    Office and Support Staff.    During the Term, the Executive shall be entitled to an office or offices of a size
and with furnishings and other appointments, and to secretarial and other assistance, consistent with the Executive's position and title. 

        (g)   Vacation.    During the Term, Executive shall be entitled to twenty (20) working days of compensated
vacation in each fiscal year, to be taken at times which do not unreasonably interfere with the performance of Executive's duties hereunder. Any unused vacation time from any fiscal year shall be
subject to accumulation or forfeiture in accordance with Company policy as in effect from time to time. 

        4.    Termination of Employment.    

        (a)   Death or Disability.    The Executive's employment shall terminate automatically upon the Executive's death
during the Term. If the Disability of the Executive occurs during the Term (pursuant to the definition of Disability set forth below), the Company may give to the Executive written notice in
accordance with Section 10(c) of this Agreement of its intention to terminate the Executive's employment. In such event, the Executive's employment with the Company shall terminate effective on
the 30th day after receipt of such notice by the Executive (the "Disability Effective Date"), provided that, within the 30 days after such receipt, the Executive shall not have returned to
full-time performance of the Executive's duties. For purposes of this Agreement, "Disability" shall mean the absence of the Executive from the Executive's duties with the Company on a
full-time basis for 90 consecutive business days as a result of incapacity due to mental or physical illness which is determined to be total and permanent by a physician selected by the
Company or its insurers and acceptable to the Executive or the Executive's legal representative. 

        (b)   Cause.    The Company may terminate the Executive's employment for Cause. For purposes of this Agreement,
"Cause" shall mean: 

	(i)
	any
act or failure to act by Executive done with the intent to harm in any material respect the financial interests or reputation of the Company or any affiliated
companies;

	(ii)
	Executive
being convicted of (or entering a plea of guilty or nolo contendere to) a felony (other than a felony
involving a motor vehicle);

	(iii)
	Executive's
dishonesty, misappropriation or fraud with regard to the Company or any affiliated companies (other than good faith expense account disputes);

	(iv)
	a
grossly negligent act or failure to act by Executive which has a material adverse affect on the Company or any affiliated companies;

	(v)
	the
material breach by Executive of his agreements or obligations under this Agreement which has a material adverse effect on the Company, which breach, if curable, is
not cured by Executive within fifteen (15) days after written notice from the Company which specifically identifies the material breach which the Company believes that Executive has committed;
or

	(vi)
	the
continued refusal to follow the directives of the CEO or the Board or their designees which are consistent with Executive's duties and responsibilities identified
in Section 1 hereof; provided that the foregoing refusal shall not be "cause" if Executive in good faith believes that such direction is illegal, unethical or immoral and promptly so notifies
the CEO or Board, as the case may be, in writing. 

        (c)   Notice of Termination.    Any termination by the Company for Cause shall be communicated by Notice of
Termination to the Executive given in accordance with Section 10(c) of this Agreement. For purposes of this Agreement, a "Notice of Termination" means a written 

3

 

notice
which (i) indicates the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination of the Executive's employment under the provision so indicated and (iii) if the Date of Termination (as defined below) is other than the date of
receipt of such notice, specifies the termination date (which date shall be not more than thirty days after the giving of such notice). The failure by the Company to set forth in the Notice of
Termination any fact or circumstance which contributes to a showing of Cause shall not waive any right of the Company hereunder or preclude the Company from asserting such fact or circumstance in
enforcing the Company's rights hereunder. 

        (d)   Date of Termination.    "Date of Termination" means (i) if the Executive's employment is terminated by
the Company for Cause, the date of receipt of the Notice of Termination or, subject to applicable cure periods, any later date specified therein, as the case may be, (ii) if the Executive's
employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination and
(iii) if the Executive's employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as the
case may be. 

        6.    Obligations of the Company upon Termination.    

        (a)   Other Than for Cause.    If, during the Term, the Company shall terminate the Executive's employment other than
for Cause: 

	(i)
	the
Company shall pay to the Executive in a lump sum in cash within 30 days after the Date of Termination the aggregate of the following amounts: (1) the
Executive's Annual Base Salary through the Date of Termination to the extent not theretofore paid, (2) any accrued but unpaid annual bonus ("Annual Bonus") respecting any completed fiscal year
ending prior to the Date of Termination, (3) the product of (x) the Average Annual Bonus (hereinafter defined) and (y) a fraction, the numerator of which is the number of days in
the current fiscal year through the Date of Termination, and the denominator of which is 365 and (4) any compensation previously deferred by the Executive (together with any accrued interest or
earnings thereon) and any accrued vacation pay, in each case to the extent not theretofore paid (the sum of the amounts described in clauses (1), (2), (3) and (4) shall be hereinafter
referred to as the "Accrued Obligations"). The timing of payment by the Company of any deferred compensation shall remain subject to any payment election previously made by the Executive. The term
"Average Annual Bonus" shall mean the arithmetic average of the Executive's bonuses (whether paid or deferred) under the Company's annual incentive plans during the last three full fiscal years prior
to the Date of Termination or for such lesser period as the Executive has been employed by the Company (annualized in the event that the Executive was not employed by the Company for the whole of any
such fiscal year). Without limiting the generality of the foregoing definition, the "Average Annual Bonus" shall include the following components, if any, pursuant to the Company's Amended and
Restated VCIP Rules (or any successor incentive plan, for so long as any of same shall exist):

	(a)
	Cash
payouts from VC and IVC awards and the "Bank" payout, subject to the Payout Cap, all at full face value;

	(b)
	Any
excess in the Bank discounted at 75% of face value (which shall, for purposes hereof, be deemed to be fully vested); 

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	(c)
	10%
of the Bank contributed to the Deferred Compensation Plan, at full face value (which shall, for purposes hereof, be deemed to be fully vested); and

	(d)
	Any
deferred bonus under the VCIP which is invested in stock under the Company's Corporate Management Stock Purchase Program, at full face value of said bonus (which shall, for
purposes hereof, be deemed to be fully vested);

	(ii)
	so
long as the Executive is and remains in compliance in all material respects with his obligations under Section 7 below, the Company shall pay to the Executive
an amount equal to the sum of (1) Executive's Annual Base Salary (at the rate in effect on the Date of Termination), and (2) the Average Annual Bonus for a period of one year from the
Date of Termination, (the "Severance Period"), at the same time that payments of Annual Base Salary would otherwise have become due and payable during said period in the absence of such termination;

	(iii)
	so
long as the Executive is and remains in compliance in all material respects with his obligations under Section 7 below, during the Severance Period, or such
longer period as may be provided by the terms of the appropriate plan, program, practice or policy, the Company shall continue benefits to the Executive and/or the Executive's family at least equal to
those which would have been provided to them in accordance with the plans, programs, practices and policies described in Section 3(d) of this Agreement if the Executive's employment had not
been terminated, provided, however, that if the Executive becomes reemployed with another employer and receives medical or other welfare benefits under another employer provided plan, the medical and
other welfare benefits described herein shall cease; and

	(iv)
	to
the extent not theretofore paid or provided, the Company shall timely pay or provide to the Executive any other amounts or benefits required to be paid or provided
or which the Executive is eligible to receive under any plan, program, policy or practice or contract or agreement of the Company and its affiliated companies (such other amounts and benefits shall be
hereinafter referred to as the "Other Benefits"). 

        (b)   Death.    If the Executive's employment is terminated by reason of the Executive's death, this Agreement shall
terminate without further obligations to the Executive's legal representatives under this Agreement, other than for payment of Accrued Obligations and the timely payment or provision of Other
Benefits. Accrued Obligations shall be paid to the Executive's estate or beneficiary, as applicable, in a lump sum in cash within 30 days of the Date of Termination. 

        (c)   Disability.    If the Executive's employment is terminated by reason of the Executive's Disability, this
Agreement shall terminate without further obligations to the Executive, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits. Accrued Obligations shall
be paid to the Executive or the Executive's legal representative in a lump sum in cash within 30 days of the Date of Termination. 

        (d)   Cause.    If the Executive's employment shall be terminated for Cause, this Agreement shall terminate without
further obligations to the Executive other than the obligation to pay to the Executive (x) his Annual Base Salary through the Date of Termination, (y) the amount of any compensation
previously deferred by the Executive, and (z) Other Benefits, in each case to the extent theretofore unpaid. If the Executive voluntarily terminates employment during the Term, this Agreement
shall terminate without further obligations to the Executive, other than for Accrued Obligations and the timely payment or provision of Other Benefits. In such case, all Accrued Obligations shall be
paid to the Executive in a lump sum in cash within 30 days of the Date of Termination. 

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        (e)   Election Not to Extend.    In the event that the Company elects, pursuant to Section 2 above, not to
extend the Term, then, such election shall be treated for all purposes hereof the same as the termination by the Company of Executive's employment for other than Cause, and, in such case, commencing
upon the date of the expiration of the Term, Executive shall be entitled to receive from the Company the same payments and benefits as Executive would be entitled to receive pursuant to
Section 6(a) above; provided, however, and notwithstanding anything contained in Section 6(a) above to the contrary, in connection with an election by the Company not to renew the Term,
the applicable "Severance Period" shall not extend beyond the date that the Executive reaches the age of sixty-five (65). 

        7.    Employment Covenants.    

        (a)   Intentionally Omitted. 

        (b)   Confidential Information.    Executive agrees that all Confidential Information shall be the sole property of
the Company, and Executive agrees that he shall not during the Term nor thereafter, use for his benefit or the benefit of others or disclose at any time Confidential Information or take with him upon
termination of this Agreement any records, papers, reports, lists, computer tapes or disks or any other materials of any nature that contain any Confidential Information. "Confidential Information"
shall mean all information other than General Knowledge (defined below) relating to the Company's: (i) business or existing projects including all those in various stages of research and
development including all unpublished plans for new products or services; (ii) financial information, internal business procedures and other information which relate to the way the Company
conducts its business and which are not publicly available; (iii) data written by the Company's employees or others, including source codes, object codes, marketing and development plans,
budgets, forecasts, forecast assumptions and future plans and potential strategies of the Company which have been or are being discussed; (iv) unpublished pricing data; (v) identity,
buying habits and practices of the Company, its suppliers and customers to the extent not publicly available; (vi) information regarding the skills or compensation of employees of the Company;
(vii) the Intellectual Property of the Company and any information pertaining thereto; (viii) materials and information supplied by customers or clients to the Company that contain data
regarding any research, products, procedures or the like; and (ix) any other information deemed confidential by the Company by marking such information with the word "Confidential" or similar
word; by orally advising the Executive that the information is confidential or by treating the information in such a manner that the Executive should reasonably believe it to be deemed confidential by
the Company. "General Knowledge" shall mean (i) general skills or experience gained during Executive's employment with, consultation for or work for the Company; and (ii) information and
data publicly available. 

        (c)   Records.    All files, records, memoranda and other documents regarding former, existing or prospective
customers of the Company or relating in any manner whatsoever to Confidential Information or the hereinafter defined "Business of the Company" (collectively, "Records"), whether prepared by Executive
or otherwise coming into his possession, shall be the exclusive property of the Company. All Records shall be immediately placed in the physical possession of the Company upon the termination of
Executive's employment with the Company, or at any other time specified by the Board. The retention and use by Executive of duplicates in any form of Records is prohibited after the termination of
Executive's employment with the Company. The term "Business of the Company" shall mean and include all business activities in which the Company and/or any affiliated companies have engaged (or have
prepared written plans to engage) at any time during the Term, including but not limited to, the purchase of land (or options therefor) for development and the construction of residential homes for
resale to consumers. 

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        (d)   Breach.    Executive hereby recognizes and acknowledges that irreparable injury or damage shall result to the
Company in the event of a breach or threatened breach by Executive of any of the terms or provisions of this Section 7, and Executive therefore agrees that the Company shall be entitled to an
injunction restraining Executive from engaging in any activity constituting such breach or threatened breach. Nothing contained herein shall be construed as prohibiting the Company from pursuing any
other remedies available to the Company at law or in equity for such breach or threatened breach, including but not limited to, the recovery of damages from Executive and, if Executive is an employee
of the Company, the termination of his employment with the Company in accordance with the terms and provisions of this Agreement. 

        (e)   Survival.    Notwithstanding the termination of the employment of Executive or the termination of this
Agreement, the provisions of this Section 7 shall survive and be binding upon Executive unless a written agreement which specifically refers to the termination of the obligations and covenants
of this Section 7 is executed by the Company. Notwithstanding the foregoing, this Section 7 shall not survive the termination of this Agreement as the result of the Change Of Control
Agreement (hereinafter defined) becoming effective. 

        (f)    Blue-Penciling.    Should any court or other legally constituted authority determine that for any
such agreement or covenant to be effective it must be modified to limit its duration or scope, the parties hereto shall consider such agreement or covenant to be amended or modified with respect to
duration and/or scope so as to comply with the orders of any such court or other legally constituted authority, and as to all other portions of such agreement or covenants they shall remain in full
force and effect as originally written. 

        8.    No Mitigation.    In no event shall the Executive be obligated to seek other employment
or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and such amounts shall not be reduced whether or not the Executive
obtains other employment. The Company agrees to pay as incurred, to the full extent permitted by law, all legal fees and expenses which the Executive may reasonably incur as a result of any contest by
(i) the Company, provided that the Executive prevails in at least one material issue, (ii) the Executive or (iii) others, of the validity or enforceability of, or liability under,
any provision of this Agreement or any guarantee of performance thereof (including, without limitation, as a result of any contest by the Executive about the amount of any payment pursuant to this
Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Section 7872(f) (2) (A) of the Internal Revenue Code of 1986, as amended (the
"Code"). 

        9.    Successors.    

        (a)   This
Agreement is personal to the Executive and without the prior written consent of the Company shall not be assignable by the Executive otherwise than by will or the
laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive's legal representatives. 

        (b)   This
Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. 

        10.    Miscellaneous.    

        (a)   This
Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to principles of conflict of laws. Any legal
action, suit or proceeding arising out of or relating to this Agreement shall be instituted in the state or federal courts in the State of Delaware and the parties agree not to assert, in any action,
suit or proceeding by way of motion, as a defense or otherwise, any claim that either party is not personally subject to the jurisdiction of such court, or that such action, suit or proceeding is 

7

 

brought
in an inconvenient forum, or that the venue is improper or that the subject matter hereof cannot be enforced in such court. The parties hereby irrevocably submit to the jurisdiction of any
such court in any such action, suit or proceeding and agree that service of all process in any such action, suit or proceeding in any such court may be made by registered or certified mail, return
receipt requested, to its address set forth in this Agreement, such service being hereby acknowledged by such party to be sufficient for personal jurisdiction in any action against such party in any
such court and to be otherwise effective and binding service in every respect. 

        (b)   The
captions of this Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement may not be amended or modified otherwise than by a
written agreement executed by the parties hereto or their respective successors and legal representatives. 

        (c)   All
notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party, by FedEx or other commercial overnight courier
or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

If to the Executive:

878
Birds Mill, Marietta, Georgia 30067 

If to the Company:

1000
Abernathy Road

Suite 1200

Atlanta, Georgia 30328

Attention: Company Secretary 

or
to such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and communications shall be effective when actually received by the addressee. 

        (d)   The
invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. 

        (e)   The
Company may withhold from any amounts payable under this Agreement such Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any
applicable law or regulation. 

        (f)    The
Company's failure to insist upon strict compliance with any provision of this Agreement or the failure to assert any right the Company may have hereunder shall not
be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. 

        (g)   This
Agreement supersedes any and all other prior or contemporaneous agreements, either oral or in writing, between the parties hereto with respect to the subject matter
hereof including, without limitation, the Existing Agreement, and this Agreement contains all of the covenants and agreements between the parties with respect to employment of Executive by the
Company, provided, however, that nothing contained herein shall impair Executive's right to
(i) any salary, bonus or other payments accrued through the effective date hereof and owing to Executive pursuant to the Existing Agreement or (ii) any award of restricted stock and
grants of options to acquire shares of the Company's common stock referred to in the Existing Agreement and the award letters delivered by the Company to Executive in connection therewith. 

        Reference
is hereby made to that certain Employment Agreement dated as of September 1, 2004 (the "Change Of Control Agreement") by and between the Company and the Executive.
Notwithstanding anything contained herein to the contrary, (i) this Agreement shall not supersede the Change of Control Agreement, and (ii) upon the "Effective Date" occurring under the
Change of Control Agreement, this Agreement shall be superseded by the Change of Control Agreement. 

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        (h)   This
Agreement may be executed via facsimile transmission signature and in counterparts, each of which shall be deemed to be an original but all of which together will
constitute one and the same instrument. 

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

	 	 	BEAZER HOMES USA, INC.
	
 	
 	

By:	
 	

    

	 	 	Name: Ian J. McCarthy
	 	 	Title: President and Chief Executive Officer
	

 	
 	
EXECUTIVE
	

 	
 	

 LOWELL BALL

9

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Exhibit 10.05  

 
 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT    
    

        THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this "Agreement") is made effective as of the 1ST day of September, 2004 (the "Effective
Date") by and between BEAZER HOMES USA, INC., a Delaware corporation (the "Company"), and MICHAEL T. RAND, an individual resident of the State of Georgia ("Executive"). 

WITNESSETH:

        WHEREAS,
the Company and Executive have heretofore entered into an Employment Agreement dated December 17, 2002 (the "Existing Agreement"); and 

        WHEREAS,
the Company and Executive desire to amend certain provisions of, and to restate in its entirety 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.    Employment and Duties.    

        (a)   The
Company hereby agrees to employ Executive for the Term (as hereinafter defined) as its Senior Vice President, Chief Accounting Officer. If requested by the Board of
Directors of the Company (the "Board"), Executive shall also serve on the Board without additional compensation. Executive shall also
serve, if requested by the Board, as an executive officer and/or director of any subsidiaries and/or affiliated companies and shall comply with the policy of the Compensation Committee of the Board
(the "Compensation Committee") with regard to retention or forfeiture of any director's fees. As used in this Agreement, the term "affiliated companies" shall include any company controlled by,
controlling or under common control with the Company. 

        (b)   The
Executive shall have such management and oversight responsibilities and authority as are necessary to efficiently administer the affairs of the Company and as are
customary of a Senior Vice President, Chief Accounting Officer. All powers herein granted to the Executive are subject to supervisory approval of (i) the Board, (ii) the President and
Chief Executive Officer of the Company (the "CEO"), and (iii) any other officers of the Company as are from time to time designated by the CEO, and the Executive may be given such further
reasonably related supervisory duties, powers and prerogatives as may be delegated to him from time to time by said Board and/or the CEO and/or such other officers. The Executive shall render such
advice to the CEO and Board as said CEO and/or Board may from time to time request. 

        (c)   During
the Term, and excluding any periods of vacation and sick leave to which the Executive is entitled, Executive shall devote substantially all of his business time
and efforts to the business and affairs of the Company and, to the extent necessary to discharge the responsibilities assigned to the Executive hereunder, use the Executive's reasonable best efforts
to perform faithfully such responsibilities. In performing such duties hereunder, Executive shall comply with the policies and procedures as adopted from time to time by the Board, shall give the
Company the benefit of his special knowledge, skills, contacts and business experience, shall perform his duties and carry out his responsibilities hereunder in a diligent manner. 

        (d)   During
the Employment Term, it shall not be a violation of this Agreement for the Executive to (i) with the prior approval of the Board in each case, serve on
corporate, civic or charitable boards or committees, (ii) with the prior approval of the Board in each case, deliver lectures, fulfill speaking engagements or teach at educational institutions,
and (iii) manage personal investments, so long as such activities do not significantly interfere or constitute a conflict 

1

 

of
interest with the performance of the Executive's responsibilities as an employee of the Company in accordance with this Agreement. 

        (e)   The
principal location for performance of Executive's services hereunder shall be at the offices of Beazer Homes USA, Inc. which are currently located in Atlanta,
Georgia, subject to reasonable travel requirements during the course of such performance. In the event circumstances require a change in such location to another city, Executive shall have not less
than three (3) months advance notice of the effective date of the relocation. 

        2.    Employment Term.    The term of Executive's employment hereunder (the "Term") shall
commence effective as of the date hereof and shall end on August 31, 2005, unless sooner terminated as provided herein; provided,  however; that the
Term shall automatically be extended for successive one year periods unless: (i) this Agreement is terminated as otherwise
provided herein; or (ii) Executive or the Company provides written notice to the other of such party's desire not to extend the Term at least sixty (60) days prior to the scheduled
expiration of the Term as then in effect. 

        3.    Compensation and Benefits    

        (a)   Base Salary.    During the Term, the Executive shall receive an annual base salary ("Annual Base Salary") in
the amount of $260,000.00 payable in accordance with the Company's normal payroll practices (but not less frequently than monthly). During the Term, the Annual Base Salary shall be reviewed by the
Compensation Committee (for purposes of increase only) at least annually. Any increase in Annual Base Salary shall not serve to limit or reduce any other obligation to the Executive under this
Agreement. Annual Base Salary shall not be reduced after any such increase and the term Annual Base Salary as utilized in this Agreement shall refer to Annual Base Salary as so increased.
Notwithstanding anything contained herein to the contrary, in the event that the Company shall implement a Company-wide reduction in executive base compensation, then, solely for such
purpose and only during the continuation of such Company-wide reduction, the Company shall have the right to reduce the Annual Base Salary then payable hereunder in a manner that is
consistent with said Company-wide reduction. 

        (b)   Bonuses; Stock Incentive Plans.    Executive will be eligible to and shall participate in the Company's bonus
and stock incentive plans at the discretion of the Compensation Committee of the Board. The amount and terms of, and the targets, conditions and restrictions applicable to each bonus or other
incentive award shall be subject to the provisions of any such plan and of the applicable award letter duly executed and delivered by the Company. 

        (c)   Incentive, Savings and Retirement Plans.    During the Term, the Executive shall be entitled to participate in
all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies. 

        (d)   Welfare Benefit Plans.    During the Term, the Executive and/or the Executive's family, as the case may be,
shall be eligible for participation in and shall receive all benefits under welfare benefit plans, practices, policies and programs provided by the Company and its affiliated companies (including,
without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other
peer executives of the Company and its affiliated companies. 

        (e)   Expenses.    The Company will pay or reimburse Executive for all reasonable and necessary
out-of-pocket expenses incurred by him in the performance of his duties under this Agreement. Executive shall keep detailed and accurate records of expenses incurred in
connection with the performance of his duties hereunder and reimbursement therefore shall be in accordance with policies and procedures to be established from time to time by the Board. 

2

 

        (f)    Office and Support Staff.    During the Term, the Executive shall be entitled to an office or offices of a size
and with furnishings and other appointments, and to secretarial and other assistance, consistent with the Executive's position and title. 

        (g)   Vacation.    During the Term, Executive shall be entitled to twenty (20) working days of compensated
vacation in each fiscal year, to be taken at times which do not unreasonably interfere with the performance of Executive's duties hereunder. Any unused vacation time from any fiscal year shall be
subject to accumulation or forfeiture in accordance with Company policy as in effect from time to time. 

        4.    Termination of Employment.    

        (a)   Death or Disability.    The Executive's employment shall terminate automatically upon the Executive's death
during the Term. If the Disability of the Executive occurs during the Term (pursuant to the definition of Disability set forth below), the Company may give to the Executive written notice in
accordance with Section 10(c) of this Agreement of its intention to terminate the Executive's employment. In such event, the Executive's employment with the Company shall terminate effective on
the 30th day after receipt of such notice by the Executive (the "Disability Effective Date"), provided that, within the 30 days after such receipt, the Executive shall not have returned to
full-time performance of the Executive's duties. For purposes of this Agreement, "Disability" shall mean the absence of the Executive from the Executive's duties with the Company on a
full-time basis for 90 consecutive business days as a result of incapacity due to mental or physical illness which is determined to be total and permanent by a physician selected by the
Company or its insurers and acceptable to the Executive or the Executive's legal representative. 

        (b)   Cause.    The Company may terminate the Executive's employment for Cause. For purposes of this Agreement,
"Cause" shall mean: 

	(i)
	any
act or failure to act by Executive done with the intent to harm in any material respect the financial interests or reputation of the Company or any affiliated
companies;

	(ii)
	Executive
being convicted of (or entering a plea of guilty or nolo contendere to) a felony (other than a felony
involving a motor vehicle);

	(iii)
	Executive's
dishonesty, misappropriation or fraud with regard to the Company or any affiliated companies (other than good faith expense account disputes);

	(iv)
	a
grossly negligent act or failure to act by Executive which has a material adverse affect on the Company or any affiliated companies;

	(v)
	the
material breach by Executive of his agreements or obligations under this Agreement which has a material adverse effect on the Company, which breach, if curable, is
not cured by Executive within fifteen (15) days after written notice from the Company which specifically identifies the material breach which the Company believes that Executive has committed;
or

	(vi)
	the
continued refusal to follow the directives of the CEO or the Board or their designees which are consistent with Executive's duties and responsibilities identified
in Section 1 hereof; provided that the foregoing refusal shall not be "cause" if Executive in good faith believes that such direction is illegal, unethical or immoral and promptly so notifies
the CEO or Board, as the case may be, in writing. 

        (c)   Notice of Termination.    Any termination by the Company for Cause shall be communicated by Notice of
Termination to the Executive given in accordance with Section 10(c) of this Agreement. For purposes of this Agreement, a "Notice of Termination" means a written 

3

 

notice
which (i) indicates the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination of the Executive's employment under the provision so indicated and (iii) if the Date of Termination (as defined below) is other than the date of
receipt of such notice, specifies the termination date (which date shall be not more than thirty days after the giving of such notice). The failure by the Company to set forth in the Notice of
Termination any fact or circumstance which contributes to a showing of Cause shall not waive any right of the Company hereunder or preclude the Company from asserting such fact or circumstance in
enforcing the Company's rights hereunder. 

        (d)   Date of Termination.    "Date of Termination" means (i) if the Executive's employment is terminated by
the Company for Cause, the date of receipt of the Notice of Termination or, subject to applicable cure periods, any later date specified therein, as the case may be, (ii) if the Executive's
employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination and
(iii) if the Executive's employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as the
case may be. 

        6.    Obligations of the Company upon Termination.    

        (a)   Other Than for Cause.    If, during the Term, the Company shall terminate the Executive's employment other than
for Cause: 

	(i)
	the
Company shall pay to the Executive in a lump sum in cash within 30 days after the Date of Termination the aggregate of the following amounts: (1) the
Executive's Annual Base Salary through the Date of Termination to the extent not theretofore paid, (2) any accrued but unpaid annual bonus ("Annual Bonus") respecting any completed fiscal year
ending prior to the Date of Termination, (3) the product of (x) the Average Annual Bonus (hereinafter defined) and (y) a fraction, the numerator of which is the number of days in
the current fiscal year through the Date of Termination, and the denominator of which is 365 and (4) any compensation previously deferred by the Executive (together with any accrued interest or
earnings thereon) and any accrued vacation pay, in each case to the extent not theretofore paid (the sum of the amounts described in clauses (1), (2), (3) and (4) shall be hereinafter
referred to as the "Accrued Obligations"). The timing of payment by the Company of any deferred compensation shall remain subject to any payment election previously made by the Executive. The term
"Average Annual Bonus" shall mean the arithmetic average of the Executive's bonuses (whether paid or deferred) under the Company's annual incentive plans during the last three full fiscal years prior
to the Date of Termination or for such lesser period as the Executive has been employed by the Company (annualized in the event that the Executive was not employed by the Company for the whole of any
such fiscal year). Without limiting the generality of the foregoing definition, the "Average Annual Bonus" shall include the following components, if any, pursuant to the Company's Amended and
Restated VCIP Rules (or any successor incentive plan, for so long as any of same shall exist):

	(a)
	Cash
payouts from VC and IVC awards and the "Bank" payout, subject to the Payout Cap, all at full face value;

	(b)
	Any
excess in the Bank discounted at 75% of face value (which shall, for purposes hereof, be deemed to be fully vested); 

4

 

	(c)
	10%
of the Bank contributed to the Deferred Compensation Plan, at full face value (which shall, for purposes hereof, be deemed to be fully vested); and

	(d)
	Any
deferred bonus under the VCIP which is invested in stock under the Company's Corporate Management Stock Purchase Program, at full face value of said bonus (which shall, for
purposes hereof, be deemed to be fully vested);

	(ii)
	so
long as the Executive is and remains in compliance in all material respects with his obligations under Section 7 below, the Company shall pay to the Executive
an amount equal to the sum of (1) Executive's Annual Base Salary (at the rate in effect on the Date of Termination), and (2) the Average Annual Bonus for a period of one year from the
Date of Termination, (the "Severance Period"), at the same time that payments of Annual Base Salary would otherwise have become due and payable during said period in the absence of such termination;

	(iii)
	so
long as the Executive is and remains in compliance in all material respects with his obligations under Section 7 below, during the Severance Period, or such
longer period as may be provided by the terms of the appropriate plan, program, practice or policy, the Company shall continue benefits to the Executive and/or the Executive's family at least equal to
those which would have been provided to them in accordance with the plans, programs, practices and policies described in Section 3(d) of this Agreement if the Executive's employment had not
been terminated, provided, however, that if the Executive becomes reemployed with another employer and receives medical or other welfare benefits under another employer provided plan, the medical and
other welfare benefits described herein shall cease; and

	(iv)
	to
the extent not theretofore paid or provided, the Company shall timely pay or provide to the Executive any other amounts or benefits required to be paid or provided
or which the Executive is eligible to receive under any plan, program, policy or practice or contract or agreement of the Company and its affiliated companies (such other amounts and benefits shall be
hereinafter referred to as the "Other Benefits"). 

        (b)   Death.    If the Executive's employment is terminated by reason of the Executive's death, this Agreement shall
terminate without further obligations to the Executive's legal representatives under this Agreement, other than for payment of Accrued Obligations and the timely payment or provision of Other
Benefits. Accrued Obligations shall be paid to the Executive's estate or beneficiary, as applicable, in a lump sum in cash within 30 days of the Date of Termination. 

        (c)   Disability.    If the Executive's employment is terminated by reason of the Executive's Disability, this
Agreement shall terminate without further obligations to the Executive, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits. Accrued Obligations shall
be paid to the Executive or the Executive's legal representative in a lump sum in cash within 30 days of the Date of Termination. 

        (d)   Cause.    If the Executive's employment shall be terminated for Cause, this Agreement shall terminate without
further obligations to the Executive other than the obligation to pay to the Executive (x) his Annual Base Salary through the Date of Termination, (y) the amount of any compensation
previously deferred by the Executive, and (z) Other Benefits, in each case to the extent theretofore unpaid. If the Executive voluntarily terminates employment during the Term, this Agreement
shall terminate without further obligations to the Executive, other than for Accrued Obligations and the timely payment or provision of Other Benefits. In such case, all Accrued Obligations shall be
paid to the Executive in a lump sum in cash within 30 days of the Date of Termination. 

5

 

        (e)   Election Not to Extend.    In the event that the Company elects, pursuant to Section 2 above, not to
extend the Term, then, such election shall be treated for all purposes hereof the same as the termination by the Company of Executive's employment for other than Cause, and, in such case, commencing
upon the date of the expiration of the Term, Executive shall be entitled to receive from the Company the same payments and benefits as Executive would be entitled to receive pursuant to
Section 6(a) above; provided, however, and notwithstanding anything contained in Section 6(a) above to the contrary, in connection with an election by the Company not to renew the Term,
the applicable "Severance Period" shall not extend beyond the date that the Executive reaches the age of sixty-five (65). 

        7.    Employment Covenants.    

        (a)   Covenant Not to Compete.    Executive recognizes and acknowledges that the Company is placing its confidence
and trust in Executive. Executive, therefore, covenants and agrees that during the Applicable Non-Compete Period (as defined below) Executive shall not, either directly
or indirectly, without the prior written consent of the Board (which may be withheld in the sole and absolute discretion of the Board): 

	(i)
	Engage
in or carry on any business or in any way become associated with any business in the Restricted Area (as hereinafter defined) which is similar to or is in
competition with the Business of the Company (as hereinafter defined). As used in this Section 7(a), the term (1) "Business of the Company" shall mean and include all business activities
in which the Company and/or any affiliated companies have engaged (or have prepared written plans to engage) at any time during the Term, including but not limited to, the purchase of land (or options
therefor) for development and the construction of residential homes for resale to consumers, and (2) "Restricted Area" shall mean and include anywhere in the United States of America or in any
foreign country in which the Company or any affiliated companies then engage (or have within the preceding three years engaged) in business;

	(ii)
	in
connection with any business which is similar to or is in competition with the Business of the Company in the Restricted Area, solicit the business of any person or
entity, on behalf of himself or any other person or entity, which is or has been at any time during the Term a customer or supplier of the Company including, but not limited to, former or present
customers or suppliers with whom Executive has had personal contact during, or by reason of, his relationship with the Company;

	(iii)
	Be
or become an employee, agent, consultant, representative, director or officer of, or be otherwise in any manner associated with, any person, 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;

	(iv)
	Solicit
for employment or employ any person employed by the Company at any time during the twelve (12) month period immediately preceding such solicitation or
employment; or

	(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.
Notwithstanding the preceding sentence, passive equity investments by Executive of $25,000 or less in any entity or affiliated group of any entity which is engaged in or is carrying on any business
which is similar to or in 

6

 

competition
with the Business of the Company shall not be deemed to violate this Section 7(a). 

        For
purposes of identifying the Restricted Area, Executive hereby recognizes and acknowledges that the existing Business of the Company currently extends throughout the States of
Georgia, Tennessee, South Carolina, North Carolina, California, Arizona, Nevada, Florida, New Jersey, Delaware, Maryland, Virginia, West Virginia, Texas, New York, Colorado, Mississippi, Indiana,
Kentucky, Ohio, Pennsylvania and Washington, D.C. Executive further warrants and represents that, because of his varied skill and abilities, he does not need to compete with the Business of the
Company and that this Agreement will not prevent him from earning a livelihood and acknowledges that the restrictions contained in this Section 7 constitute reasonable protections for the
Company. 

        As
used in this Section 7, "Applicable Non-Compete Period" shall mean the following: 

	(A)
	at
all times that the Executive is employed by the Company; and

	(B)
	for
a period of time after the Executive's employment under this Agreement is terminated for any reason equal to the greater of:

	(i)
	180 days;
or

	(ii)
	such
longer period of time that the Executive is entitled to receive payments under Sections 6(a)(ii) or (iii) above. 

        (b)   Confidential Information.    Executive agrees that all Confidential Information shall be the sole property of
the Company, and Executive agrees that he shall not during the Term nor thereafter, use for his benefit or the benefit of others or disclose at any time Confidential Information or take with him upon
termination of this Agreement any records, papers, reports, lists, computer tapes or disks or any other materials of any nature that contain any Confidential Information. "Confidential Information"
shall mean all information other than General Knowledge (defined below) relating to the Company's: (i) business or existing projects including all those in various stages of research and
development including all unpublished plans for new products or services; (ii) financial information, internal business procedures and other information which relate to the way the Company
conducts its business and which are not publicly available; (iii) data written by the Company's employees or others, including source codes, object codes, marketing and development plans,
budgets, forecasts, forecast assumptions and future plans and potential strategies of the Company which have been or are being discussed; (iv) unpublished pricing data; (v) identity,
buying habits and practices of the Company, its suppliers and
customers to the extent not publicly available; (vi) information regarding the skills or compensation of employees of the Company; (vii) the Intellectual Property of the Company and any
information pertaining thereto; (viii) materials and information supplied by customers or clients to the Company that contain data regarding any research, products, procedures or the like; and
(ix) any other information deemed confidential by the Company by marking such information with the word "Confidential" or similar word; by orally advising the Executive that the information is
confidential or by treating the information in such a manner that the Executive should reasonably believe it to be deemed confidential by the Company. "General Knowledge" shall mean (i) general
skills or experience gained during Executive's employment with, consultation for or work for the Company; and (ii) information and data publicly available. 

        (c)   Records.    All files, records, memoranda and other documents regarding former, existing or prospective
customers of the Company or relating in any manner whatsoever to Confidential Information or the Business of the Company (collectively, "Records"), whether prepared by Executive or otherwise coming
into his possession, shall be the exclusive property of the Company. All Records shall be immediately placed in the physical possession of the Company upon the 

7

 

termination
of Executive's employment with the Company, or at any other time specified by the Board. The retention and use by Executive of duplicates in any form of Records is prohibited after the
termination of Executive's employment with the Company. 

        (d)   Breach.    Executive hereby recognizes and acknowledges that irreparable injury or damage shall result to the
Company in the event of a breach or threatened breach by Executive of any of the terms or provisions of this Section 7, and Executive therefore agrees that the Company shall be entitled to an
injunction restraining Executive from engaging in any activity constituting such breach or threatened breach. Nothing contained herein shall be construed as prohibiting the Company from pursuing any
other remedies available to the Company at law or in equity for such breach or threatened breach, including but not limited to, the recovery of damages from Executive and, if Executive is an employee
of the Company, the termination of his employment with the Company in accordance with the terms and provisions of this Agreement. 

        (e)   Survival.    Notwithstanding the termination of the employment of Executive or the termination of this
Agreement, the provisions of this Section 7 shall survive and be binding upon Executive unless a written agreement which specifically refers to the termination of the obligations and covenants
of this Section 7 is executed by the Company. Notwithstanding the foregoing, this Section 7 shall not survive the termination of this Agreement as the result of the Change Of Control
Agreement (hereinafter defined) becoming effective. 

        (f)    Blue-Penciling.    Should any court or other legally constituted authority determine that for any
such agreement or covenant to be effective it must be modified to limit its duration or scope, the parties hereto shall consider such agreement or covenant to be amended or modified with respect to
duration and/or scope so as to comply with the orders of any such court or other legally constituted
authority, and as to all other portions of such agreement or covenants they shall remain in full force and effect as originally written. 

        8.    No Mitigation.    In no event shall the Executive be obligated to seek other employment
or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and such amounts shall not be reduced whether or not the Executive
obtains other employment. The Company agrees to pay as incurred, to the full extent permitted by law, all legal fees and expenses which the Executive may reasonably incur as a result of any contest by
(i) the Company, provided that the Executive prevails in at least one material issue, (ii) the Executive or (iii) others, of the validity or enforceability of, or liability under,
any provision of this Agreement or any guarantee of performance thereof (including, without limitation, as a result of any contest by the Executive about the amount of any payment pursuant to this
Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Section 7872(f) (2) (A) of the Internal Revenue Code of 1986, as amended (the
"Code"). 

        9.    Successors.    

        (a)   This
Agreement is personal to the Executive and without the prior written consent of the Company shall not be assignable by the Executive otherwise than by will or the
laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive's legal representatives. 

        (b)   This
Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. 

        10.    Miscellaneous.    

        (a)   This
Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to principles of conflict of laws. Any legal
action, suit or 

8

 

proceeding
arising out of or relating to this Agreement shall be instituted in the state or federal courts in the State of Delaware and the parties agree not to assert, in any action, suit or
proceeding by way of motion, as a defense or otherwise, any claim that either party is not personally subject to the jurisdiction of such court, or that such action, suit or proceeding is brought in
an inconvenient forum, or that the venue is improper or that the subject matter hereof cannot be enforced in such court. The parties hereby irrevocably submit to the jurisdiction of any such court in
any such action, suit or proceeding and agree that service of all process in any such action, suit or proceeding in any such court may be made by registered or certified mail, return receipt
requested, to its address set forth in this Agreement, such service being hereby acknowledged by such party to be sufficient for personal jurisdiction in any action against such party in any such
court and to be otherwise effective and binding service in every respect. 

        (b)   The
captions of this Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement may not be amended or modified otherwise than by a
written agreement executed by the parties hereto or their respective successors and legal representatives. 

        (c)   All
notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party, by FedEx or other commercial overnight courier
or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

If to the Executive:

1675
Brandon Hall Drive, Dunwoody, Georgia 30350 

If to the Company:

1000
Abernathy Road

Suite 1200

Atlanta, Georgia 30328

Attention: Company Secretary 

or
to such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and communications shall be effective when actually received by the addressee. 

        (d)   The
invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. 

        (e)   The
Company may withhold from any amounts payable under this Agreement such Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any
applicable law or regulation. 

        (f)    The
Company's failure to insist upon strict compliance with any provision of this Agreement or the failure to assert any right the Company may have hereunder shall not
be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. 

        (g)   This
Agreement supersedes any and all other prior or contemporaneous agreements, either oral or in writing, between the parties hereto with respect to the subject matter
hereof including, without limitation, the Existing Agreement, and this Agreement contains all of the covenants and agreements between the parties with respect to employment of Executive by the
Company, provided, however, that nothing contained herein shall impair Executive's right to
(i) any salary, bonus or other payments accrued through the effective date hereof and owing to Executive pursuant to the Existing Agreement or (ii) any award of restricted stock and
grants of options to acquire shares of the Company's common stock referred to in the Existing Agreement and the award letters delivered by the Company to Executive in connection therewith. 

9

 

        Reference
is hereby made to that certain Employment Agreement dated as of September 1, 2004 (the "Change Of Control Agreement") by and between the Company and the Executive.
Notwithstanding anything contained herein to the contrary, (i) this Agreement shall not supersede the Change of Control Agreement, and (ii) upon the "Effective Date" occurring under the
Change of Control Agreement, this Agreement shall be superseded by the Change of Control Agreement. 

        (h)   This
Agreement may be executed via facsimile transmission signature and in counterparts, each of which shall be deemed to be an original but all of which together will
constitute one and the same instrument. 

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

	 	 	BEAZER HOMES USA, INC.
	
 	
 	

By:	
 	

    

	 	 	Name: Ian J. McCarthy
	 	 	Title: President and Chief Executive Officer
	

 	
 	
EXECUTIVE
	

 	
 	

 MICHAEL T. RAND

10

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AMENDED AND RESTATED EMPLOYMENT AGREEMENT

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