Document:

exv10w25

     Exhibit 10.25

AMENDMENT NO. 1 TO

EMPLOYMENT AGREEMENT

     This Amendment No. 1 to the Employment Agreement for Paul C. Saville (“Amendment”) is made,
effective as of January 1, 2009, by and between NVR, Inc., a Virginia corporation (the “Company”)
and Paul C. Saville (“Executive”).

Recitals:

     WHEREAS, Executive and the Company previously entered into an Employment Agreement, effective
as of July 1, 2005; and

     WHEREAS, Executive and the Company desire to further amend the Employment Agreement to comply
with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended.

Agreement:

     NOW, THEREFORE, in consideration of the agreements contained herein and of such other good and
valuable consideration, the sufficiency of which Executive acknowledges, the Company and Executive,
intending to be legally bound, agree as follows:

          1. New Section 11 is added to the Employment Agreement to read as follows:

          “11. Limitations Under Code Section 409A

          11.1 Anything in this Agreement to the contrary notwithstanding, if (A) on the date of
termination of Executive’s employment with the Company or a subsidiary, any of the Company’s stock
is publicly traded on an established securities market or otherwise (within the meaning of Section
409A(a)(2)(B)(i) of the Internal Revenue Code, as amended (the “Code”)), (B) Executive is
determined to be a “specified employee” within the meaning of Section 409A(a)(2)(B), (C) the
payments exceed the amounts permitted to be paid pursuant to Treasury Regulations section
1.409A-1(b)(9)(iii) and (D) such delay is required to avoid the imposition of the tax set forth in
Section 409A(a)(1), as a result of such termination, the Executive would receive any payment that,
absent the application of this Section 5(g), would be subject to interest and additional tax
imposed pursuant to Section 409A(a) as a result of the application of Section 409A(2)(B)(i), then
no such payment shall be payable prior to the date that is the earliest of (1) six (6) months and
one day after the Executive’s termination date, (2) the Executive’s death or (3) such other date
(the “Delay Period”) as will cause such payment not to be subject to such interest and additional
tax (with a catch-up payment equal to the sum of all amounts that have been delayed to be made as
of the date of the initial payment).

          11.2 In addition, other provisions of this Agreement or any other such plan notwithstanding,
the Company shall have no right to accelerate any such payment or to make any such payment as the
result of any specific event except to the extent permitted under Section 409A.

          11.3 A termination of employment shall not be deemed to have occurred for purposes of any
provision of this Agreement providing for the payment of any amounts or benefits upon or following
a termination of employment unless such termination is also a “separation from service” within the
meaning of Section 409A and, for purposes of any such provision of this Agreement, references to a
“termination,” “termination of employment” or like terms shall mean “separation from service.”

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          2. Except as set forth in this Amendment, the Employment Agreement shall remain unchanged and
shall continue in full force and effect.

     IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment on the date
first written above.

	 	 	 	 	 	 	 
	 	 	NVR, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	/s/ Joseph Madigan
 

Name: Joseph Madigan
	 	 
	 

	 	 	 	Title: Senior Vice President Human Resources	 	 
	 
	 	 	 	 	 	 
	 	 	EXECUTIVE	 	 
	 
	 	 	 	 	 	 
	 	 	/s/ Paul C. Saville	 	 
	 	 	 	 	 
	 	 	Name: Paul C. Saville	 	 

87exv10w26

Exhibit 10.26

AMENDMENT NO. 1 TO

EMPLOYMENT AGREEMENT

     This Amendment No. 1 to the Employment Agreement for William J. Inman (“Amendment”) is made,
effective as of January 1, 2009, by and between NVR, Inc., a Virginia corporation (the “Company”)
and William J. Inman (“Executive”).

Recitals:

     WHEREAS, Executive and the Company previously entered into an Employment Agreement, effective
as of July 1, 2005; and

     WHEREAS, Executive and the Company desire to further amend the Employment Agreement to comply
with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended.

Agreement:

     NOW, THEREFORE, in consideration of the agreements contained herein and of such other good and
valuable consideration, the sufficiency of which Executive acknowledges, the Company and Executive,
intending to be legally bound, agree as follows:

          1. New Section 11 is added to the Employment Agreement to read as follows:

          “11. Limitations Under Code Section 409A

          11.1 Anything in this Agreement to the contrary notwithstanding, if (A) on the date of
termination of Executive’s employment with the Company or a subsidiary, any of the Company’s stock
is publicly traded on an established securities market or otherwise (within the meaning of Section
409A(a)(2)(B)(i) of the Internal Revenue Code, as amended (the “Code”)), (B) Executive is
determined to be a “specified employee” within the meaning of Section 409A(a)(2)(B), (C) the
payments exceed the amounts permitted to be paid pursuant to Treasury Regulations section
1.409A-1(b)(9)(iii) and (D) such delay is required to avoid the imposition of the tax set forth in
Section 409A(a)(1), as a result of such termination, the Executive would receive any payment that,
absent the application of this Section 5(g), would be subject to interest and additional tax
imposed pursuant to Section 409A(a) as a result of the application of Section 409A(2)(B)(i), then
no such payment shall be payable prior to the date that is the earliest of (1) six (6) months and
one day after the Executive’s termination date, (2) the Executive’s death or (3) such other date
(the “Delay Period”) as will cause such payment not to be subject to such interest and additional
tax (with a catch-up payment equal to the sum of all amounts that have been delayed to be made as
of the date of the initial payment).

          11.2 In addition, other provisions of this Agreement or any other such plan notwithstanding,
the Company shall have no right to accelerate any such payment or to make any such payment as the
result of any specific event except to the extent permitted under Section 409A.

          11.3 A termination of employment shall not be deemed to have occurred for purposes of any
provision of this Agreement providing for the payment of any amounts or benefits upon or following
a termination of employment unless such termination is also a “separation from service” within the
meaning of Section 409A and, for purposes of any such provision of this Agreement, references to a
“termination,” “termination of employment” or like terms shall mean “separation from service.”

88

 

          2. Except as set forth in this Amendment, the Employment Agreement shall remain unchanged and
shall continue in full force and effect.

     IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment on the date
first written above.

	 	 	 	 	 	 	 
	 	 	NVR, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	/s/ Joseph Madigan
 

Name: Joseph Madigan
	 	 
	 

	 	 	 	Title: Senior Vice President Human Resources	 	 
	 
	 	 	 	 	 	 
	 	 	EXECUTIVE	 	 
	 
	 	 	 	 	 	 
	 	 	/s/ William J. Inman	 	 
	 	 	 	 	 
	 	 	Name: William J. Inman	 	 

89exv10w27

Exhibit 10.27

AMENDMENT NO. 1 TO

EMPLOYMENT AGREEMENT

     THIS AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (“Amendment”) is made this 30th day of July 2008,
between NVR, INC., a Virginia corporation (the “Company”) and DENNIS M. SEREMET, (the “Executive”).
References within this Amendment to the Company refer to NVR and its subsidiaries and affiliates.

WHEREAS, the parties wish to amend that Employment Agreement entered into between the Company and
the Executive dated July 1, 2005 (“Employment Agreement”);

WHEREAS, the Company’s Board of Directors (the “Board”) approved the appointment of Mr. Seremet as
a Senior Vice President on November 1, 2007;

WHEREAS, Section 8.3 of the Employment Agreement states that amendments shall only be effectuated
pursuant to a written instrument signed by both parties to the Employment Agreement; and

WHEREAS, the Company and the Executive find it desirous to execute an Amendment, whereby the
Executive’s job title shall be changed to reflect the Board’s action on November 1, 2007.

ACCORDINGLY, for and in consideration of the foregoing and of the mutual covenants and agreement
set forth in this Amendment, the parties AGREE as follows:

	1.	 	Paragraph 1.1 of the Employment Agreement is hereby amended and restated in its entirety as
follows:
	 
	 	 	Employment by the Company. The Company hereby employs the Executive, for itself and
its affiliates, to render exclusive and full-time services to the Company. The Executive
will serve in the capacity of Senior Vice President, Chief Financial Officer and Treasurer.
The Executive will perform such duties as are imposed on the holder of that office by the
By-laws of the Company and such other duties as are customarily performed by one holding
such position in the same or similar businesses or enterprises as those of the Company. The
Executive will perform such other related duties as may be assigned to him from time to time
by the Company’s Board of Directors. The Executive will devote his entire full working time
and attention to the performance of such duties and to the promotion of the business and
interests of the Company.

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	 	 	This provision, however, will not prevent the Executive from
investing his funds or assets in any form or manner, or from acting as a member of the Board
of
Directors of any companies, businesses, or charitable organizations, so long as such
investments or companies do not compete with the Company, subject to the limitations set
forth in Section 7.1.
	 
	2.	 	Except as expressly provided herein, the terms and conditions of the Employment Agreement, as
amended, shall remain in full force and effect and shall be binding on the parties hereto.

     IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment, or have
caused this Amendment to be duly executed and delivered in their name and on their behalf,
intending to be legally bound by its terms, as of the day and year first above written.

	 	 	 	 	 	 	 	 	 
	NVR, INC.	 	 	 	 	 	 
	By:

	 	/s/ Dwight C. Schar
 

	 	 
	 	/s/ Dennis M. Seremet
 

      Dennis M. Seremet
	 	 

91

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