Document:

EX-10.1 FORM OF INDEMNIFICATION AGREEMENT

EXHIBIT 10.1

INDEMNITY AGREEMENT

     THIS INDEMNITY AGREEMENT (this “Agreement”) is made as of                     , 2008, by and
between Beazer Homes USA, Inc., a Delaware corporation (the “Company”), and                     
(“Indemnitee”).

RECITALS

     WHEREAS, highly competent persons have become more reluctant to serve publicly-held
corporations as directors, officers or in other capacities unless they are provided with adequate
protection through insurance or adequate indemnification against inordinate risks of claims and
actions against them arising out of their service to and activities on behalf of the corporation.

     WHEREAS, the Board of Directors of the Company (the “Board”) has determined that, in order to
attract and retain qualified individuals, the Company will attempt to maintain on an ongoing basis,
at its sole expense, liability insurance to protect persons serving the Company and its
subsidiaries from certain liabilities. Although the furnishing of such insurance has been a
customary and widespread practice among U.S.-based corporations and other business enterprises, the
Company believes that, given current market conditions and trends, such insurance may be available
to it in the future only at higher premiums and with more exclusions. At the same time, directors,
officers and other persons in service to corporations or business enterprises are being
increasingly subjected to expensive and time-consuming litigation relating to, among other things,
matters that traditionally would have been brought only against the Company or business enterprise
itself. The By-Laws (the “Bylaws”) of the Company require indemnification of the officers and
directors of the Company. Indemnitee may also be entitled to indemnification pursuant to applicable
provisions of the Delaware General Corporation Law (“DGCL”). The Bylaws and the DGCL expressly
provide that the indemnification provisions set forth therein are not exclusive, and thereby
contemplate that contracts may be entered into between the Company and members of the board of
directors, officers and other persons in order to protect such persons against claims and expenses
arising from their services on behalf of the Company.

     WHEREAS, the uncertainties relating to such insurance and to indemnification have increased
the difficulty of attracting and retaining such persons.

     WHEREAS, the Board has determined that the increased difficulty in attracting and retaining
such persons is detrimental to the best interests of the Company’s stockholders and that the
Company should act to assure such persons that there will be increased certainty of such protection
in the future.

     WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate
itself to indemnify, hold harmless, exonerate and to advance expenses on behalf of, such persons to
the fullest extent permitted by applicable law so

 

 

that they will serve or continue to serve the Company free from undue concern that they will
not be so protected against liabilities.

     WHEREAS, this Agreement is a supplement to and in furtherance of the Bylaws and any
resolutions adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to
diminish or abrogate any rights of Indemnitee thereunder.

     WHEREAS, Indemnitee does not regard the protection available under the Bylaws and liability
insurance as adequate in the present circumstances, and may not be willing to serve as an employee
or director without adequate protection, and the Company desires Indemnitee to serve in such
capacity.

     NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the
Company and Indemnitee do hereby covenant and agree as follows:

TERMS AND CONDITIONS

1. SERVICES TO THE COMPANY. Indemnitee will agree to serve or to continue to serve as an employee
or director of the Company for so long as Indemnitee is duly elected or appointed or until
Indemnitee tenders his resignation. Nothing contained in this Agreement shall be construed as
giving Indemnitee any right to be retained in the employ of the Company or any of its subsidiaries
or affiliated entities.

2. DEFINITIONS. As used in this Agreement:

     (a) References to “agent” shall mean any individual who is or was a director, officer, or
employee of the Company or a Subsidiary of the Company or other individual authorized by the
Company to act for the Company, to include such individual serving in such capacity as a director,
officer, employee, fiduciary or other official of another corporation, partnership, limited
liability company, joint venture, trust or other Enterprise (as defined below) at the request of,
for the convenience of, or to represent the interests of, the Company or a subsidiary of the
Company.

     (b) The terms “Beneficial Owner” and “Beneficial Ownership” shall have the meanings set forth
in Rule 13d-3 promulgated under the Exchange Act (as defined below) as in effect on the date
hereof.

     (c) A “Change in Control” shall be deemed to occur upon the earliest to occur after the date
of this Agreement of any of the following events:

     (i) Acquisition of Stock by Third Party. Any Person (as defined below) is or becomes
the Beneficial Owner, directly or indirectly, of securities of the Company representing
fifteen percent (15%) or more of the combined voting power of the Company’s then
outstanding securities entitled to vote generally in the election of directors, unless (1)
the change in the relative Beneficial Ownership of the Company’s securities by any Person
results solely from a

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reduction in the aggregate number of outstanding shares of securities entitled to vote
generally in the election of directors, or (2) such acquisition was approved in advance by
the Continuing Directors (as defined below) and such acquisition would not constitute a
Change in Control under part (iii) of this definition;

     (ii) Change in Board of Directors. Individuals who, as of the date hereof, constitute
the Board, and any new director whose election by the Board or nomination for election by
the Company’s stockholders was approved by a vote of at least two thirds of the directors
then still in office who were directors on the date hereof or whose nomination for election
was previously so approved (collectively, the “Continuing Directors”), cease for any reason
to constitute at least a majority of the members of the Board;

     (iii) Corporate Transactions. The effective date of a reorganization, merger or
consolidation of the Company (a “Business Combination”), in each case, unless, immediately
following such Business Combination: (1) all or substantially all of the Persons who were
the Beneficial Owners of securities entitled to vote generally in the election of directors
immediately prior to such Business Combination beneficially own, directly or indirectly,
more than 51% of the combined voting power of the then outstanding securities of the
Company entitled to vote generally in the election of directors resulting from such
Business Combination (including, without limitation, a corporation which, as a result of
such transaction, owns the Company or all or substantially all of the Company’s assets
either directly or through one or more Subsidiaries) in substantially the same proportions
as their ownership, immediately prior to such Business Combination, of the securities
entitled to vote generally in the election of directors; (2) no Person (excluding any
corporation resulting from such Business Combination) is the Beneficial Owner, directly or
indirectly, of 15% or more of the combined voting power of the then outstanding securities
entitled to vote generally in the election of directors of such corporation except to the
extent that such ownership existed prior to such Business Combination; and (3) at least a
majority of the Board of Directors of the corporation resulting from such Business
Combination were Continuing Directors at the time of the execution of the initial
agreement, or of the action of the Board of Directors, providing for such Business
Combination;

     (iv) Liquidation. The approval by the stockholders of the Company of a complete
liquidation of the Company or an agreement or series of agreements for the sale or
disposition by the Company of all or substantially all of the Company’s assets (or, if such
approval is not required, the decision by the Board to proceed with such a liquidation,
sale, or disposition in one transaction or a series of related transactions); or

     (v) Other Events. There occurs any other event of a nature that would be required to
be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or a response to
any similar item on any similar schedule or form)

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promulgated under the Exchange Act, whether or not the Company is then subject to such
reporting requirement.

     (d) “Corporate Status” describes the status of an individual who is or was a director,
officer, trustee, general partner, managing member, fiduciary, employee or agent of the Company or
of any other Enterprise which such individual is or was serving at the request of the Company.

     (e) “Delaware Court” shall mean the Court of Chancery of the State of Delaware.

     (f) “Disinterested Director” shall mean a director of the Company who is not and was not a
party to the Proceeding (as defined below) in respect of which indemnification is sought by
Indemnitee.

     (g) “Enterprise” shall mean the Company and any other corporation, constituent corporation
(including any constituent of a constituent) absorbed in a consolidation or merger to which the
Company (or any of its wholly-owned subsidiaries) is a party, limited liability company,
partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is
or was serving at the request of the Company as a director, officer, trustee, general partner,
managing member, fiduciary, employee or
agent.

     (h) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

     (i) “Expenses” shall include all direct and indirect costs, fees and expenses of any type or
nature whatsoever, including, without limitation, all attorneys’ fees and costs, retainers, court
costs, transcript costs, fees of experts, witness fees, travel expenses, fees of private
investigators and professional advisors, duplicating costs, printing and binding costs, telephone
charges, postage, delivery service fees, fax transmission charges, secretarial services and all
other disbursements, obligations or expenses in connection with prosecuting, defending, preparing
to prosecute or defend, investigating, being or preparing to be a witness in, settlement or appeal
of, or otherwise participating in, a Proceeding, including, without limitation reasonable
compensation for time spent by the Indemnitee for which he or she is not otherwise compensated by
the Company or any third party. Expenses also shall include Expenses incurred in connection with
any appeal resulting from any Proceeding, including, without limitation, the principal, premium,
security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or
its equivalent. Expenses, however, shall not include amounts paid in settlement by Indemnitee or
the amount of judgments or fines against Indemnitee.

     (j) “Independent Counsel” shall mean a law firm or a member of a law firm with significant
experience in matters of corporation law and neither presently is, nor in the past five years has
been, retained to represent: (i) the Company or Indemnitee in any matter material to either such
party (other than with respect to matters concerning the Indemnitee under this Agreement, or of
other indemnitees under similar indemnification agreements); or (ii) any other party to the
Proceeding giving rise to a claim for

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indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall
not include any person who, under the applicable standards of professional conduct then prevailing,
would have a conflict of interest in representing either the Company or Indemnitee in an action to
determine Indemnitee’s rights under this Agreement.

     (k) References to “fines” shall include any excise tax assessed on Indemnitee with respect to
any employee benefit plan; references to “serving at the request of the Company” shall include any
service as a director, officer, employee, agent or fiduciary of the Company which imposes duties
on, or involves services by, such director, officer, employee, agent or fiduciary with respect to
an employee benefit plan, its participants or beneficiaries; and if Indemnitee acted in good faith
and in a manner Indemnitee reasonably believed to be in the best interests of the participants and
beneficiaries of an employee benefit plan, Indemnitee shall be deemed to have acted in a manner
“not opposed to the best interests of the Company” as referred to in this Agreement.

     (l) The term “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the
Exchange Act as in effect on the date hereof; provided, however, that “Person” shall exclude: (i)
the Company; (ii) any Subsidiary of the Company; (iii) any employment benefit plan of the Company
or of a Subsidiary of the Company or of any corporation owned, directly or indirectly, by the
stockholders of the Company in substantially the same proportions as their ownership of stock of
the Company; and (iv) any trustee or other fiduciary holding securities under an employee benefit
plan of the Company or of a Subsidiary of the Company or of a corporation owned directly or
indirectly by the stockholders of the Company in substantially the same proportions as their
ownership of stock of the Company.

     (m) A “Potential Change in Control” shall be deemed to have occurred if: (i) the Company
enters into an agreement or arrangement, the consummation of which would result in the occurrence
of a Change in Control; (ii) any Person or the Company publicly announces an intention to take or
consider taking actions which, if consummated, would constitute a Change in Control; (iii) any
Person who is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company
representing five percent (5%) or more of the combined voting power of the Company’s then
outstanding securities entitled to vote generally in the election of directors increases his
Beneficial Ownership of such securities by five percent (5%) or more over the percentage so owned
by such Person on the date hereof unless such acquisition was approved in advance by the Board; or
(iv) the Board adopts a resolution to the effect that, for purposes of this Agreement, a Potential
Change in Control has occurred.

     (n) The term “Proceeding” shall include any threatened, pending or completed action, suit,
arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry,
administrative hearing or any other actual, threatened or completed proceeding, whether brought in
the right of the Company or otherwise and whether of a civil (including intentional or
unintentional tort claims), criminal, administrative or investigative nature, in which Indemnitee
was, is, will or might be involved as a party or

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otherwise by reason of the fact that Indemnitee is or was a director, officer, employee or
agent of the Company, by reason of any action (or failure to act) taken by him or of any action (or
failure to act) on his part while acting as a director, officer, employee or agent of the Company,
or by reason of the fact that he is or was serving at the request of the Company as a director,
officer, trustee, general partner, managing member, fiduciary, employee or agent of any other
Enterprise, in each case whether or not serving in such capacity at the time any liability or
expense is incurred for which indemnification, reimbursement, or advancement of expenses can be
provided under this Agreement.

     (o) The term “Subsidiary,” with respect to any Person, shall mean any corporation or other
entity of which a majority of the voting power of the voting equity securities or equity interest
is owned, directly or indirectly, by that Person.

     (p) In connection with any merger or consolidation, references to the “Company” shall include
not only the resulting or surviving company, but also any constituent company or constituent of a
constituent company, which, if its separate existence had continued, would have had power and
authority to indemnify its directors, officers, employees or agents. The intent of this provision
is that a person who is or was a director of such constituent company after the date hereof or is
or was serving at the request of such constituent company as a director, officer, employee, trustee
or agent of another company, partnership, joint venture, trust, employee benefit plan or other
Enterprise after the date hereof, shall stand in the same position under this Agreement with
respect to the resulting or surviving company as the person would have under this Agreement with
respect to such constituent company if its separate existence had continued.

3. INDEMNITY IN THIRD-PARTY PROCEEDINGS. The Company shall indemnify, hold harmless and exonerate
Indemnitee in accordance with the provisions of this Section 3 if Indemnitee was, is, or is
threatened to be made, a party to or a participant (as a witness or otherwise) in any Proceeding,
other than a Proceeding by or in the right of the Company to procure a judgment in its favor.
Pursuant to this Section 3, Indemnitee shall be indemnified, held harmless and exonerated against
all Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement (including,
without limitation, all interest, assessments and other charges paid or payable in connection with
or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement)
actually and reasonably incurred by Indemnitee or on his behalf in connection with such Proceeding
or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he
reasonably believed to be in or not opposed to the best interests of the Company and, in the case
of a criminal Proceeding, had no reasonable cause to believe that his conduct was unlawful.

4. INDEMNITY IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY. The Company shall indemnify, hold
harmless and exonerate Indemnitee in accordance with the provisions of this Section 4 if Indemnitee
was, is, or is threatened to be made, a party to or a participant (as a witness or otherwise) in
any Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to
this Section 4, Indemnitee shall be indemnified, held harmless and exonerated against all Expenses

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actually and reasonably incurred by him or on his behalf in connection with such Proceeding or any
claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he reasonably
believed to be in or not opposed to the best interests of the Company. No indemnification, hold
harmless or exoneration for Expenses shall be made under this Section 4 in respect of any claim,
issue or matter as to which Indemnitee shall have been finally adjudged by a court to be liable to
the Company, unless and only to the extent that any court in which the Proceeding was brought or
the Delaware Court shall determine upon application that, despite the adjudication of liability but
in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to
indemnification, to be held harmless or to exoneration.

5. INDEMNIFICATION FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL. Notwithstanding any
other provisions of this Agreement, to the extent that Indemnitee is a party to (or a participant
in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim,
issue or matter therein, in whole or in part, the Company shall indemnify, hold harmless and
exonerate Indemnitee against all Expenses actually and reasonably incurred by him in connection
therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the
merits or otherwise, as to one or more but less than all claims, issues or matters in such
Proceeding, the Company shall indemnify, hold harmless and exonerate Indemnitee against all
Expenses actually and reasonably incurred by him or on his behalf in connection with each
successfully resolved claim, issue or matter. If the Indemnitee is not wholly successful in such
Proceeding, the Company also shall indemnify, hold harmless and exonerate Indemnitee against all
Expenses reasonably incurred in connection with a claim, issue or matter related to any claim,
issue, or matter on which the Indemnitee was successful. For purposes of this Section and without
limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with
or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

6. INDEMNIFICATION FOR EXPENSES OF A WITNESS. Notwithstanding any other provision of this
Agreement, to the extent that Indemnitee is, by reason of his Corporate Status, a witness in any
Proceeding to which Indemnitee is not a party, he shall be indemnified, held harmless and
exonerated against all Expenses actually and reasonably incurred by him or on his behalf in
connection therewith.

7. ADDITIONAL INDEMNIFICATION, AND EXONERATION RIGHTS.

     (a) Notwithstanding any limitation in Sections 3, 4, or 5, the Company shall indemnify, hold
harmless and exonerate Indemnitee if Indemnitee is a party to or threatened to be made a party to
any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in
its favor) against all Expenses, judgments, fines, penalties and amounts paid in settlement
(including all interest, assessments and other charges paid or payable in connection with or in
respect of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and
reasonably incurred by Indemnitee in connection with the Proceeding. No indemnification, hold
harmless or exoneration rights shall be available under this Section 7(a) on account of

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Indemnitee’s conduct which constitutes a breach of Indemnitee’s duty of loyalty to the Company
or its stockholders or is an act or omission not in good faith or which involves intentional
misconduct or a knowing violation of the law.

     (b) Notwithstanding any limitation in Sections 3, 4, 5 or 7(a), the Company shall indemnify,
hold harmless and exonerate Indemnitee if Indemnitee is a party to or threatened to be made a party
to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment
in its favor) against all Expenses, judgments, fines, penalties and amounts paid in settlement
(including all interest, assessments and other charges paid or payable in connection with or in
respect of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and
reasonably incurred by Indemnitee in connection with the Proceeding.

8. CONTRIBUTION IN THE EVENT OF JOINT LIABILITY.

     (a) To the fullest extent permissible under applicable law, if the indemnification, hold
harmless and/or exoneration rights provided for in this Agreement are unavailable to Indemnitee, in
whole or in part, for any reason whatsoever, the Company, in lieu of indemnifying, holding harmless
or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by
Indemnitee, whether for judgments, liabilities, fines, penalties, amounts paid or to be paid in
settlement and/or for Expenses, in connection with any Proceeding without requiring Indemnitee to
contribute to such payment, and the Company hereby waives and relinquishes any right of
contribution it may have at any time against Indemnitee.

     (b) The Company shall not enter into any settlement of any Proceeding in which the Company is
jointly liable with Indemnitee (or would be if joined in such Proceeding) unless such settlement
provides for a full and final release of all claims asserted against Indemnitee.

     (c) The Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from
any claims for contribution which may be brought by officers, directors or employees of the Company
other than Indemnitee who may be jointly liable with Indemnitee.

9. EXCLUSIONS. Notwithstanding any provision in this Agreement, the Company shall not be obligated
under this Agreement to make any indemnification, hold harmless or exoneration payment:

     (a) in connection with any claim made against Indemnitee for which payment has actually been
received by or on behalf of Indemnitee under any insurance policy or other indemnity provision,
except with respect to any excess beyond the amount actually received under any insurance policy,
contract, agreement, other indemnity provision or otherwise;

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     (b) in connection with any claim made against Indemnitee for an accounting of profits made
from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within
the meaning of Section 16(b) of the Exchange Act or similar provisions of state statutory law or
common law; or

     (c) except as otherwise provided in Sections 14(e)-(f) hereof, prior to a Change in Control,
in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee,
including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the
Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized
the Proceeding (or any part of any Proceeding) prior to its initiation, (ii) such payment arises in
connection with any mandatory counterclaim or cross-claim that the Indemnitee asserts against the
Company or its directors, officers, employees or other indemnitees or any affirmative defense
Indemnitee raises, or (iii) the Company provides the indemnification, hold harmless or exoneration
payment, in its sole discretion, pursuant to the powers vested in the Company under applicable law.

10. ADVANCES OF EXPENSES; DEFENSE OF CLAIM.

     (a) Notwithstanding any provision of this Agreement to the contrary, and to the fullest extent
permitted by applicable law, the Company shall advance the Expenses incurred by Indemnitee (or
reasonably expected by Indemnitee to be incurred by Indemnitee within three months) in connection
with any Proceeding within ten (10) days after the receipt by the Company of a statement or
statements requesting such advances from time to time, whether prior to or after final disposition
of any Proceeding. Advances shall be unsecured and interest free. Advances shall be made without
regard to Indemnitee’s ability to repay the Expenses and without regard to Indemnitee’s ultimate
entitlement to be indemnified, held harmless or exonerated under the other provisions of this
Agreement. Advances shall include any and all reasonable Expenses incurred in pursuing a Proceeding
to enforce this right of advancement, including Expenses incurred preparing and forwarding
statements to the Company to support the advances claimed. The Indemnitee shall qualify for
advances, to the fullest extent permitted by applicable law, solely upon the execution and delivery
to the Company of an undertaking providing that the Indemnitee undertakes to repay the advance to
the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified by
the Company under the provisions of this Agreement, the Certificate of Incorporation (the
“Charter”) or Bylaws of the Company, applicable law or otherwise. This Section 10(a) shall not
apply to any claim made by Indemnitee for which an indemnification, hold harmless or exoneration
payment is excluded pursuant to Section 9.

     (b) The Company will be entitled to participate in the Proceeding at its own expense.

     (c) The Company shall not settle any action, claim or Proceeding (in whole or in part) which
would impose any Expense, judgment, fine, penalty or limitation on the Indemnitee without the
Indemnitee’s prior written consent.

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11. PROCEDURE FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION.

     (a) Indemnitee agrees to notify promptly the Company in writing upon being served with any
summons, citation, subpoena, complaint, indictment, information or other document relating to any
Proceeding or matter which may be subject to indemnification, hold harmless or exoneration rights,
or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company
shall not relieve the Company of any obligation which it may have to the Indemnitee under this
Agreement, or otherwise.

     (b) Indemnitee may deliver to the Company a written application to indemnify, hold harmless or
exonerate Indemnitee in accordance with this Agreement. Such application(s) may be delivered from
time to time and at such time(s) as Indemnitee deems appropriate in his sole discretion. Following
such a written application for indemnification by Indemnitee, the Indemnitee’s entitlement to
indemnification shall be determined according to Section 12(a) of this Agreement.

12. PROCEDURE UPON APPLICATION FOR INDEMNIFICATION.

     (a) A determination, if required by applicable law, with respect to Indemnitee’s entitlement
to indemnification shall be made in the specific case by one of the following methods, which shall
be at the election of Indemnitee: (i) by a majority vote of the Disinterested Directors, even
though less than a quorum of the Board or (ii) by Independent Counsel in a written opinion to the
Board, a copy of which shall be delivered to Indemnitee. The Company promptly will advise
Indemnitee in writing with respect to any determination that Indemnitee is or is not entitled to
indemnification, including, without limitation, a description of any reason or basis for which
indemnification has been denied. If it is so determined that Indemnitee is entitled to
indemnification, payment to Indemnitee shall be made within ten (10) days after such determination.
Indemnitee shall reasonably cooperate with the Person or Persons making such determination with
respect to Indemnitee’s entitlement to indemnification, including, without limitation, providing to
such Person or Persons upon reasonable advance request any documentation or information which is
not privileged or otherwise protected from disclosure and which is reasonably available to
Indemnitee and reasonably necessary to such determination. Any costs or Expenses (including
attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person,
persons or entity making such determination shall be borne by the Company (irrespective of the
determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies
and agrees to hold Indemnitee harmless therefrom.

     (b) In the event the determination of entitlement to indemnification is to be made by
Independent Counsel pursuant to Section 12(a) hereof, the Independent Counsel shall be selected as
provided in this Section 12(b). The Independent Counsel shall be selected by Indemnitee (unless
Indemnitee shall request that such selection be made by the

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Board), and Indemnitee shall give written notice to the Company advising it of the identity of
the Independent Counsel so selected and certifying that the Independent Counsel so selected meets
the requirements of “Independent Counsel” as defined in Section 2 of this Agreement. If the
Independent Counsel is selected by the Board, the Company shall give written notice to Indemnitee
advising him of the identity of the Independent Counsel so selected and certifying that the
Independent Counsel so selected meets the requirements of “Independent Counsel” as defined in
Section 2 of this Agreement. In either event, Indemnitee or the Company, as the case may be, may,
within ten (10) days after such written notice of selection shall have been received, deliver to
the Company or to Indemnitee, as the case may be, a written objection to such selection; provided,
however, that such objection may be asserted only on the ground that the Independent Counsel so
selected does not meet the requirements of “Independent Counsel” as defined in Section 2 of this
Agreement, and the objection shall set forth with particularity the factual basis of such
assertion. Absent a proper and timely objection, the person so selected shall act as Independent
Counsel. If such written objection is so made and substantiated, the Independent Counsel so
selected may not serve as Independent Counsel unless and until such objection is withdrawn or a
court of competent jurisdiction has determined that such objection is without merit. If, within
twenty (20) days after submission by Indemnitee of a written request for indemnification pursuant
to Section 11(a) hereof, no Independent Counsel shall have been selected and not objected to,
either the Company or Indemnitee may petition the Delaware Court for resolution of any objection
which shall have been made by the Company or Indemnitee to the other’s selection of Independent
Counsel and/or for the appointment as Independent Counsel of a person selected by the Delaware
Court, and the person with respect to whom all objections are so resolved or the person so
appointed shall act as Independent Counsel under Section 12(a) hereof. Upon the due commencement of
any judicial proceeding or arbitration pursuant to Section 14(a) of this Agreement, Independent
Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to
the applicable standards of professional conduct then prevailing).

     (c) The Company agrees to pay the reasonable fees and expenses of Independent Counsel and to
fully indemnify and hold harmless such Independent Counsel against any and all Expenses, claims,
liabilities and damages arising out of or relating to this Agreement or its engagement pursuant
hereto.

     (d) If the Company disputes a portion of the amounts for which indemnification is requested,
the undisputed portion shall be paid and only the disputed portion withheld pending resolution of
any such dispute.

13. PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS.

     (a) In making a determination with respect to entitlement to indemnification hereunder, the
Person or Persons making such determination shall presume that Indemnitee is entitled to
indemnification under this Agreement if Indemnitee has submitted a request for indemnification in
accordance with Section 11(b) of this Agreement, and the Company shall have the burden of proof to
overcome that

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presumption in connection with the making by any Person or Persons of any determination
contrary to that presumption. Neither the failure of the Company (including by its directors or
Independent Counsel) to have made a determination prior to the commencement of any action pursuant
to this Agreement that indemnification is proper in the circumstances because Indemnitee has met
the applicable standard of conduct, nor an actual determination by the Company (including by its
directors or Independent Counsel) that Indemnitee has not met such applicable standard of conduct,
shall be a defense to the action or create a presumption that Indemnitee has not met the

applicable standard of conduct.

     (b) If the Person or Persons empowered or selected under Section 12 of this Agreement to
determine whether Indemnitee is entitled to indemnification shall not have made a determination
within thirty (30) days after receipt by the Company of the request therefor, the requisite
determination of entitlement to indemnification shall be deemed to have been made and Indemnitee
shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material
fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially
misleading, in connection with the request for indemnification, or (ii) a final judicial
determination that any or all such indemnification is expressly prohibited under applicable law;
provided, however, that such 30-day period may be extended for a reasonable time, not to exceed an
additional fifteen (15) days, if the person, persons or entity making the determination with
respect to entitlement to indemnification in good faith requires such additional time for the
obtaining or evaluating of documentation and/or information relating thereto.

     (c) The termination of any Proceeding or of any claim, issue or matter therein, by judgment,
order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not
(except as otherwise expressly provided in this Agreement) of itself adversely affect the right of
Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and
in a manner which he reasonably believed to be in or not opposed to the best interests of the
Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to
believe that his conduct was unlawful.

     (d) For purposes of any determination of good faith, Indemnitee shall be deemed to have acted
in good faith if Indemnitee’s action is based on the records or books of account of the Enterprise,
including financial statements, or on information supplied to Indemnitee by the directors or
officers of the Enterprise in the course of their duties, or on the advice of legal counsel for the
Enterprise, its Board, any committee of the Board or any director, or on information or records
given or reports made to the Enterprise, its Board, any committee of the Board or any director, by
an independent certified public accountant or by an appraiser or other expert selected by the
Enterprise, its Board, any committee of the Board or any director. The provisions of this Section
13(d) shall not be deemed to be exclusive or to limit in any way the other circumstances in which
the Indemnitee may be deemed or found to have met the applicable standard of conduct set forth in
this Agreement.

12

 

     (e) The knowledge and/or actions, or failure to act, of any other director, officer, trustee,
partner, managing member, fiduciary, agent or employee of the Enterprise shall not be imputed to
Indemnitee for purposes of determining the right to indemnification under this Agreement.

14. REMEDIES OF INDEMNITEE.

     (a) In the event that (i) a determination is made pursuant to Section 12 of this Agreement
that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of
Expenses, to the fullest extent permitted by applicable law, is not timely made pursuant to Section
10 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made
pursuant to Section 12(a) of this Agreement within thirty (30) days after receipt by the Company of
the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 5,
6, 7 or the last sentence of Section 12(a) of this Agreement within ten (10) days after receipt by
the Company of a written request therefor, (v) a contribution payment is not made in a timely
manner pursuant to Section 8 of this Agreement, (vi) payment of indemnification pursuant to Section
3 or 4 of this Agreement is not made within ten (10) days after a determination has been made that
Indemnitee is entitled to indemnification, or (vii) payment to Indemnitee pursuant to any hold
harmless or exoneration rights under this Agreement or otherwise is not made within ten (10) days
after receipt by the Company of a written request therefor, Indemnitee shall be entitled to an
adjudication by the Delaware Court to such indemnification, hold harmless, exoneration,
contribution or advancement rights. Alternatively, Indemnitee, at his option, may seek an award in
arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of
the American Arbitration Association. Except as set forth herein, the provisions of Delaware law
(without regard to its conflict of laws rules) shall apply to any such arbitration. The Company
shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration.

     (b) Upon the occurrence or non-occurrence of any of the events set forth in Section 14(a) of
this Agreement, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall
be conducted in all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall
not be prejudiced by reason of that adverse determination. In any judicial proceeding or
arbitration commenced pursuant to this Section 14, Indemnitee shall be presumed to be entitled to
be indemnified, held harmless, exonerated and to receive advances of Expenses under this Agreement
and the Company shall have the burden of proving Indemnitee is not entitled to be indemnified, held
harmless, exonerated and to receive advances of Expenses, as the case may be, and the Company may
not refer to or introduce into evidence any determination pursuant to Section 12(a) of this
Agreement adverse to Indemnitee for any purpose. If Indemnitee commences a judicial proceeding or
arbitration pursuant to this Section 14, Indemnitee shall not be required to reimburse the Company
for any advances pursuant to Section 10 until a final determination is made with respect to
Indemnitee’s entitlement to indemnification (as to which all rights of appeal have been exhausted
or lapsed).

13

 

     (c) If a determination shall have been made pursuant to Section 12(a) of this Agreement that
Indemnitee is entitled to payment, the Company shall be bound by such determination in any judicial
proceeding or arbitration commenced pursuant to this Section 14, absent (i) a misstatement by
Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for indemnification, or (ii) a
prohibition of such indemnification under applicable law.

     (d) The Company shall be precluded from asserting in any judicial proceeding or arbitration
commenced pursuant to this Section 14 that the procedures and presumptions of this Agreement are
not valid, binding and enforceable and shall stipulate in any such court or before any such
arbitrator that the Company is bound by all the provisions of this Agreement.

     (e) The Company shall indemnify and hold harmless Indemnitee to the fullest extent permitted
by law against all Expenses and, if requested by Indemnitee, shall (within ten (10) days after the
Company’s receipt of such written request) pay to Indemnitee, to the fullest extent permitted by
applicable law, all such Expenses which are incurred by Indemnitee in connection with any judicial
proceeding or arbitration brought by Indemnitee (i) in connection with, to enforce his rights
under, or to recover damages for breach of, this Agreement or any other indemnification, hold
harmless, exoneration, advancement or contribution agreement or provision of the Charter or Bylaws
of the Company now or hereafter in effect; or (ii) for recovery or advances under any insurance
policy maintained by any person for the benefit of Indemnitee, regardless of the outcome and
whether Indemnitee ultimately is determined to be entitled to such indemnification, hold harmless
or exoneration right, advancement, contribution or insurance recovery, as the case may be (unless
such judicial proceeding or arbitration was not brought by Indemnitee in good faith).

     (f) Interest shall be paid by the Company to Indemnitee at the legal rate under Delaware law
for amounts which the Company indemnifies, holds harmless or exonerates, or is obliged to
indemnify, hold harmless or exonerate for the period commencing with the date on which Indemnitee
pays such amounts for which he or she requested indemnification, to be held harmless, exoneration,
contribution, reimbursement or advancement of any Expenses and ending with the date on which such
payment is made to or on behalf of Indemnitee by the Company.

15. ESTABLISHMENT OF TRUST. In the event of a Potential Change in Control, the Company shall, upon
written request by Indemnitee, create a “Trust” for the benefit of Indemnitee and from time to time
upon written request of Indemnitee shall fund such Trust in an amount sufficient to satisfy any and
all Expenses reasonably anticipated at the time of each such request to be incurred in connection
with investigating, preparing for, participating in or defending any Proceedings, and any and all
judgments, fines, penalties and amounts paid in settlement (including all interest, assessments and
other charges paid or payable in connection with or in respect of such judgments, fines penalties
and amounts paid in settlement) in connection with any and all Proceedings from time to time

14

 

actually paid or claimed, reasonably anticipated or proposed to be paid. The trustee of the Trust
(the “Trustee”) shall be a bank or trust company or other individual or entity chosen by the
Indemnitee and reasonably acceptable to the Company. Nothing in this Section 15 shall relieve the
Company of any of its obligations under this Agreement. The amount or amounts to be deposited in
the Trust pursuant to the foregoing funding obligation shall be determined by mutual agreement of
the Indemnitee and the Company or, if the Company and the Indemnitee are unable to reach such an
agreement, by Independent Counsel selected in accordance with Section 12(b) of this Agreement. The
terms of the Trust shall provide that, except upon the consent of both the Indemnitee and the
Company, (a) the Trust shall not be revoked or the principal thereof invaded, without the written
consent of the Indemnitee; and (b) upon a Change in Control: (i) the Trustee shall make advances of
Expenses, to the fullest extent permitted by applicable law, within two (2) business days of a
request by the Indemnitee and upon the execution and delivery to the Company of an undertaking
providing that the Indemnitee undertakes to repay the advance to the extent that it is ultimately
determined that Indemnitee is not entitled to be indemnified, held harmless or exonerated by the
Company; (ii) the Trust shall continue to be funded by the Company in accordance with the funding
obligations set forth above; (iii) the Trustee shall promptly pay to the Indemnitee all amounts for
which the Indemnitee shall be entitled to indemnification, or to be held harmless or exonerated
pursuant to this Agreement or otherwise; and (iv) all unexpended funds in such Trust shall revert
to the Company upon mutual agreement by the Indemnitee and the Company or, if the Indemnitee and
the Company are unable to reach such an agreement, by Independent Counsel selected in accordance
with Section 12(b) of this Agreement, that the Indemnitee has been fully indemnified, held harmless
and exonerated under the terms of this Agreement. The Trust shall be governed by Delaware law
(without regard to its conflicts of laws rules) and the Trustee shall consent to the exclusive
jurisdiction of the Delaware Court in accordance with Section 23 of this Agreement.

16. SECURITY. Notwithstanding anything herein to the contrary, to the extent requested by the
Indemnitee and approved by the Board, the Company may at any time and from time to time provide
security to the Indemnitee for the Company’s obligations hereunder through an irrevocable bank line
of credit, funded trust or other collateral. Any such security, once provided to the Indemnitee,
may not be revoked or released without the prior written consent of the Indemnitee.

17. NON-EXCLUSIVITY; SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION.

     (a) The rights of Indemnitee as provided by this Agreement (i) shall not be deemed exclusive
of any other rights to which Indemnitee may at any time be entitled under applicable law, the
Charter or Bylaws of the Company, any agreement, a vote of stockholders or a resolution of
directors, or otherwise and (ii) shall be enforced and this Agreement shall be interpreted
independently of and without reference to or limitation or constraint (whether procedural,
substantive or otherwise) by any other such rights to which Indemnitee may at any time be entitled.
No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or
restrict any right of Indemnitee under

15

 

this Agreement in respect of any action taken or omitted by such Indemnitee in his Corporate
Status prior to such amendment, alteration or repeal. To the extent that a change in applicable
law, whether by statute or judicial decision, permits greater indemnification, hold harmless or
exoneration rights or advancement of Expenses than would be afforded currently under the Charter,
or the Bylaws of the Company or this Agreement, it is the intent of the parties hereto that
Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. To the
extent that a change in Delaware law, whether by statute or judicial decision, narrows or limits
indemnification or advancement of Expenses that are afforded currently under the Charter, the
Company’s bylaws or this Agreement, it is the intent of the parties hereto that such change, except
to the extent required by applicable law, shall have no effect on this Agreement or the parties’
rights and obligations hereunder. No right or remedy herein conferred is intended to be exclusive
of any other right or remedy, and every other right and remedy shall be cumulative and in addition
to every other right and remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other right or remedy.

     (b) The DGCL, the Charter and the Company’s Bylaws permit the Company to purchase and maintain
insurance or furnish similar protection or make other arrangements including, but not limited to,
providing a trust fund, letter of credit, or surety bond (“Indemnification Arrangements”) on behalf
of Indemnitee against any liability asserted against him or incurred by or on behalf of him or in
such capacity as a director, officer, employee or agent of the Company, or arising out of his
status as such, whether or not the Company would have the power to indemnify him against such
liability under the provisions of this Agreement or under the DGCL, as it may then be in effect.
The purchase, establishment, and maintenance of any such Indemnification Arrangement shall not in
any way limit or affect the rights and obligations of the Company or of the Indemnitee under this
Agreement except as expressly provided herein, and the execution and delivery of this Agreement by
the Company and the Indemnitee shall not in any way limit or affect the rights and obligations of
the Company or the other party or parties thereto under any such Indemnification Arrangement.

     (c) The Company shall maintain directors’ and officers’ insurance programs providing coverage
to Indemnitee for Expenses during the time period Indemnitee serves the Company in a Corporate
Status, and for a period of no less than six (6) years following the conclusion of such service.
If, at the time the Company receives notice from any source of a Proceeding as to which Indemnitee
is a party or a participant (as a witness or otherwise), the Company has director and officer
liability insurance in effect, the Company shall give prompt notice of such Proceeding to the
insurers in accordance with the procedures set forth in the respective policies. The Company shall
thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the
Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such
policies.

16

 

     (d) In the event of any payment under this Agreement, the Company shall be subrogated to the
extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers
required and take all action necessary to secure such rights, including execution of such documents
as are necessary to enable the Company to bring suit to enforce such rights.

     (e) The Company’s obligation to indemnify, hold harmless, exonerate or advance Expenses
hereunder to Indemnitee who is or was serving at the request of the Company as a director, officer,
trustee, partner, managing member, fiduciary, employee or agent of any other Enterprise shall be
reduced by any amount Indemnitee has actually received as indemnification, hold harmless or
exoneration payments or advancement of expenses from such Enterprise. Notwithstanding any other
provision of this Agreement to the contrary, (i) Indemnitee shall have no obligation to reduce,
offset, allocate, pursue or apportion any indemnification, hold harmless, exoneration, advancement,
contribution or insurance coverage among multiple parties possessing such duties to Indemnitee
prior to the Company’s satisfaction and performance of all its obligations under this Agreement,
and (ii) the Company shall perform fully its obligations under this Agreement without regard to
whether Indemnitee holds, may pursue or has pursued any indemnification, advancement, hold
harmless, exoneration, contribution or insurance coverage rights against any person or entity other
than the Company.

18. DURATION OF AGREEMENT. All agreements and obligations of the Company contained herein shall
continue during the period Indemnitee serves as a director or officer of the Company or as a
director, officer, trustee, partner, managing member, fiduciary, employee or agent of any other
corporation, partnership, joint venture, trust, employee benefit plan or other Enterprise which
Indemnitee serves at the request of the Company and shall continue thereafter so long as Indemnitee
may be subject to any possible Proceeding (including any rights of appeal thereto and any
Proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement) by reason of his
Corporate Status, whether or not he is acting in any such capacity at the time any liability or
expense is incurred for which indemnification can be provided under this Agreement.

19. SEVERABILITY. If any provision or provisions of this Agreement shall be held to be invalid,
illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability
of the remaining provisions of this Agreement (including, without limitation, each portion of any
Section, paragraph or sentence of this Agreement containing any such provision held to be invalid,
illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any
way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by
law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform
to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to
the fullest extent possible, the provisions of this Agreement (including, without limitation, each
portion of any Section, paragraph or sentence of this Agreement containing any such provision held
to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable)
shall be construed so as to give effect to the intent manifested thereby.

17

 

20. ENFORCEMENT AND BINDING EFFECT.

     (a) The Company expressly confirms and agrees that it has entered into this Agreement and
assumed the obligations imposed on it hereby in order to encourage Indemnitee to serve and/or
continue to serve as a director, officer or key employee of the Company, and the Company
acknowledges that Indemnitee is relying upon this Agreement in serving as a director, officer or
key employee of the Company.

     (b) Without limiting any of the rights of Indemnitee under the Charter or Bylaws of the
Company as they may be amended from time to time, and except as provided in Section 17(a), this
Agreement constitutes the entire agreement between the parties hereto with respect to the subject
matter hereof and supersedes all prior agreements and understandings, oral, written and implied,
between the parties hereto with respect to the subject matter hereof.

     (c) The rights to be indemnified and to receive contribution and advancement of Expenses
provided by or granted Indemnitee pursuant to this Agreement shall apply to Indemnitee’s service as
an officer, director, employee or agent of the Company prior to the date of this Agreement, as well
as service on or after the date of this Agreement.

     (d) The indemnification, hold harmless, exoneration and advancement of expenses rights
provided by or granted pursuant to this Agreement shall be binding upon and be enforceable by the
parties hereto and their respective successors and assigns (including any direct or indirect
successor by purchase, merger, consolidation or otherwise to all or substantially all of the
business or assets of the Company), shall continue as to an Indemnitee who has ceased to be a
director, officer, employee or agent of the Company or of any other Enterprise, and shall inure to
the benefit of Indemnitee and his or her spouse, assigns, estate, heirs, devisees, executors and
administrators and other legal representatives.

     (e) The Company shall require and cause any successor (whether direct or indirect by purchase,
merger, consolidation or otherwise) to all, substantially all or a substantial part, of the
business and/or assets of the Company, by written agreement in form and substance satisfactory to
the Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to
the same extent that the Company would be required to perform if no such succession had taken
place.

     (f) The Company and Indemnitee agree herein that a monetary remedy for breach of this
Agreement, at some later date, may be inadequate, impracticable and difficult of proof, and further
agree that such breach may cause Indemnitee irreparable harm. Accordingly, the parties hereto agree
that Indemnitee may enforce this Agreement by seeking, among other things, injunctive relief and/or
specific performance hereof, without any necessity of showing actual damage or irreparable harm and
that by seeking injunctive relief and/or specific performance, Indemnitee shall not be precluded
from seeking or obtaining any other relief to which he may be entitled. The Company and Indemnitee
further agree that Indemnitee shall be entitled to such specific performance

18

 

and injunctive relief, including temporary restraining orders, preliminary injunctions and
permanent injunctions, without the necessity of posting bonds or other undertaking in connection
therewith. The Company acknowledges that in the absence of a waiver, a bond or undertaking may be
required of Indemnitee by the Court, and the Company hereby waives any such requirement of such a
bond or undertaking.

21. MODIFICATION AND WAIVER. No supplement, modification or amendment of this Agreement shall be
binding unless executed in writing by the parties hereto. No waiver of any of the provisions of
this Agreement shall be deemed or shall constitute a waiver of any other provisions of this
Agreement nor shall any waiver constitute a continuing waiver.

22. NOTICES. All notices, requests, demands and other communications under this Agreement shall be
in writing and shall be deemed to have been duly given (i) if delivered by hand and receipted for
by the party to whom said notice or other communication shall have been directed, or (ii) mailed by
certified or registered mail with postage prepaid, on the third (3rd) business day after the date
on which it is so mailed:

     (a) If to Indemnitee, at the address indicated on the signature page of this Agreement, or
such other address as Indemnitee shall provide in writing to the Company.

     (b) If to the Company, to:

Beazer Homes USA, Inc.

c/o General Counsel

1000 Abernathy Road, Suite 1200

Atlanta, Georgia 30328

or to any other address as may have been furnished to Indemnitee in writing by the
Company.

23. APPLICABLE LAW AND CONSENT TO JURISDICTION. This Agreement and the legal relations among the
parties shall be governed by, and construed and enforced in accordance with, the laws of the State
of Delaware, without regard to its conflict of laws rules. Except with respect to any arbitration
commenced by Indemnitee pursuant to Section 14(a) of this Agreement, the Company and Indemnitee
hereby irrevocably and unconditionally: (a) agree that any action or proceeding arising out of or
in connection with this Agreement shall be brought only in the Delaware Court and not in any other
state or federal court in the United States of America or any court in any other country; (b)
consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or
proceeding arising out of or in connection with this Agreement; (c) appoint irrevocably, to the
extent such party is not a resident of the State of Delaware, Abrams & Laster LLP, 20 Montchanin
Road, Suite 200, Wilmington, Delaware 19807 as such party’s agent for acceptance of legal process
in connection with any such action or

19

 

proceeding against such party with the same legal force and validity as if served upon such party
personally within the State of Delaware; (d) waive any objection to the laying of venue of any such
action or proceeding in the Delaware Court; and (e) waive, and agree not to plead or to make, any
claim that any such action or proceeding brought in the Delaware Court has been brought in an
improper or inconvenient forum, or is subject (in whole or in part) to a jury trial.

24. IDENTICAL COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of
which shall for all purposes be deemed to be an original but all of which together shall constitute
one and the same Agreement. Only one such counterpart signed by the party against whom
enforceability is sought needs to be produced to evidence the existence of this Agreement.

25. MISCELLANEOUS. Use of the masculine pronoun shall be deemed to include usage of the feminine
pronoun where appropriate. The headings of the paragraphs of this Agreement are inserted for
convenience only and shall not be deemed to constitute part of this Agreement or to affect the
construction thereof.

26. PERIOD OF LIMITATIONS. No legal action shall be brought and no cause of action shall be
asserted by or in the right of the Company against Indemnitee, Indemnitee’s spouse, heirs,
executors or personal or legal representatives after the expiration of two years from the date of
accrual of such cause of action, and any claim or cause of action of the Company shall be
extinguished and deemed released unless asserted by the timely filing of a legal action within such
two-year period; provided, however, that if any shorter period of limitations is otherwise
applicable to any such cause of action such shorter period shall govern.

27. ADDITIONAL ACTS. If for the validation of any of the provisions in this Agreement any act,
resolution, approval or other procedure is required, the Company undertakes to cause such act,
resolution, approval or other procedure to be affected or adopted in a manner that will enable the
Company to fulfill its obligations under this Agreement.

[Remainder of page intentionally left blank;

signatures appear on following page]

20

 

     IN WITNESS WHEREOF, the parties hereto have caused this Indemnity Agreement to be signed as of
the day and year first above written.

	 	 	 	 	 	 	 	 	 	 	 
	BEAZER HOMES USA, INC.	 	 	 	INDEMNITEE	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Name:

	 	 	 	 
	 	Name:	 	 	 	 
	Title:

	 	 	 	 	 	Address:	 	 	 	 

21EX-10.2 SECOND LIMITED WAIVER DATED JUNE 30, 2008

EXHIBIT 10.2

SECOND LIMITED WAIVER

          SECOND LIMITED WAIVER (this “Limited Waiver”) dated effective as of June 30, 2008
executed by Beazer Homes USA, Inc., a Delaware corporation (the “Borrower”), the lenders
party hereto (the “Lenders”), and Wachovia Bank, National Association, as agent (the
“Agent”).

          The parties hereto are party to that certain Credit Agreement dated as of July 25, 2007 (as
amended by that certain Waiver and First Amendment (the “First Amendment”) dated as of
October 10, 2007, by that certain Second Amendment dated as of October 26, 2007 and by that certain
Limited Waiver dated May 13, 2008 (the “May Waiver”) and as further amended, supplemented,
or modified from time to time, the “Credit Agreement”; terms defined in the Credit
Agreement are used herein as defined therein). Article VII of the Credit Agreement requires the
Borrower to comply with certain financial covenants. The Borrower has asked the Agent and Lenders
to waive noncompliance with Section 7.01 [Minimum Consolidated Tangible Net Worth] and Section 7.02
[Leverage Ratio] of the Credit Agreement for the Waiver Period (as defined below) in accordance
with the terms set forth in this Limited Waiver.

          Section 1. Limited Waiver. Subject to the terms and conditions set forth herein, but
with effect on and after the date hereof, the Lenders hereby waive compliance with Sections 7.01
and 7.02 of the Credit Agreement, at all times for the period from and including June 30, 2008
through and excluding the earlier of (i) the date of the occurrence of any other Default and (ii)
August 15, 2008 (such period being the “Waiver Period”); provided that (x) at no time
during the Waiver Period shall Consolidated Tangible Net Worth of the Borrower be less than
$700,000,000, and (y) at no time during the Waiver Period shall the Leverage Ratio of the Borrower
exceed 2.50 to 1.00. Failure to satisfy any of the terms in the foregoing proviso shall terminate
the Limited Waiver set forth in this Section 1, end the Waiver Period, and constitute an Event of
Default under Section 8.01 of the Credit Agreement.

          Section 2. Applicable Eurodollar Margin. Notwithstanding anything to the contrary in
the Credit Agreement, during the Waiver Period, the Applicable Eurodollar Margin shall be 3.50%.
This Section 2 is not meant to extend the Limited Waiver set forth in Section 1.

          Section 3. Conditions Precedent. The waivers set forth in Section 1 hereof shall
become effective, as of the date hereof, upon (a) the execution and delivery of this Limited Waiver
by the Borrower, the Agent and the Required Lenders, and (b) the execution and delivery of the
Acknowledgement and Consent in the form set forth in Exhibit A hereto from each Guarantor,
all of which signature pages shall be sent to (including by way of facsimile or electronic mail)
Jolie Tenholder, of Womble Carlyle Sandridge & Rice, PLLC, 301 S. College St., Charlotte, North
Carolina 28202, facsimile 704-444-9969, email jtenholder@wcsr.com, prior to 5:00 p.m., New York
time, on Friday, June 27, 2008.

          Section 4. Representations. The Borrower hereby represents and warrants to the Agent
and the Lenders that (a) the representations and warranties contained in the Credit Agreement and
the other Loan Documents are true and correct in all material respects on and as of the date hereof
(after giving effect to this Limited Waiver) as if made on and as of the date hereof (except where
such representations and warranties expressly relate to an earlier date in

Second Limited Waiver

 

 

which case such representations and warranties were true and correct in all material respects
as of such earlier date); provided that the representations and warranties contained in
Section 4.04 (Financial Statements), Section 4.06 (Other Agreements), Section 4.07 (Litigation),
Section 4.14 (Law; Environment) and Section 4.17 (Accuracy of Information) shall be deemed to be
made as set forth in the Credit Agreement except that such representations and warranties shall be
deemed to be made with an exception for the matters identified in the Audit Committee Report (as
supplemented by the disclosures referenced in Section 3 of the May Waiver) giving rise to the
Restatement, and (b) after giving effect to this Limited Waiver, no Default has occurred and is
continuing.

          Section 5. Waiver of Claims. The Borrower acknowledges that the Agent and Lenders
have acted in good faith and have conducted themselves in a commercially reasonable manner in their
relationships with the Borrower and the Guarantors in connection with this Limited Waiver and in
connection with the Credit Agreement and the other Loan Documents, the Borrower hereby waiving and
releasing any claims to the contrary. The Borrower, on its own behalf and on behalf of each of its
Affiliates, releases and discharges the Agent and Lenders, all Affiliates of the Agent and Lenders,
all officers, directors, employees, attorneys and agents of the Agent and Lenders or any of their
Affiliates, and all of their predecessors in interest, from any and all claims, defenses and causes
of action, whether known or unknown, and whether now existing or hereafter arising, including
without limitation, any usury claims, that have at any time been owned, or that are hereafter
owned, in tort or in contract by the Borrower or any Affiliate of the Borrower and that arise out
of any one or more circumstances or events that occurred prior to the date of this Limited Waiver.

          Section 6. Miscellaneous. Except as herein provided, the Loan Documents shall remain
unchanged and in full force and effect. The waiver set forth in Section 1 hereof is not meant to
be a waiver of any other term or provision in Article VII of the Credit Agreement or any other term
or provision of the Credit Agreement. The Agent and the Lenders expressly reserve all of their
rights and remedies with respect to any other present or future Default arising under the Credit
Agreement (whether or not related to the matters addressed in this Limited Waiver). This Limited
Waiver may be executed in any number of counterparts, all of which taken together shall constitute
one and the same instrument and any of the parties hereto may execute this Limited Waiver by
signing any such counterpart. This Limited Waiver shall be construed in accordance with and
governed by the law of the State of North Carolina, without regard to the conflict of laws
principles thereof.

Second Limited Waiver

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this Limited Waiver to be duly executed and
delivered as of the day and year first above written.

	 	 	 	 	 
	 	BEAZER HOMES USA, INC., as Borrower

 	 
	 	By:  	/s/ Robert Salomon	 
	 	 	Name:  	Robert Salomon 	 
	 	 	Title:  	Senior Vice President, CAO and Controller 	 
	 

	 	 	 	 	 
	 	WACHOVIA BANK, NATIONAL 

ASSOCIATION, as Agent and as a Lender

 	 
	 	By:  	/s/
R. Scott Holtzapple 	 
	 	 	Name:  	R. Scott Holtzapple 	 
	 	 	Title:  	Director 	 
	 

	 	 	 	 	 
	 	CITIBANK, N.A., as a Lender

 	 
	 	By:  	/s/
Marni McManus 	 
	 	 	Name:  	Marni McManus 	 
	 	 	Title:  	Vice
President 	 
	 

	 	 	 	 	 
	 	BNP PARIBAS, as a Lender

 	 
	 	By:  	/s/
Henry Gaw 	 
	 	 	Name:  	Henry Gaw 	 
	 	 	Title:  	Managing
Director 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	
/s/ Melissa Balley 	 
	 	 	Name:  	Melissa Balley 	 
	 	 	Title:  	Vice
President 	 
	 

	 	 	 	 	 
	 	THE ROYAL BANK OF SCOTLAND, as a Lender

 	 
	 	By:  	/s/
Bhavin Shah 	 
	 	 	Name:  	Bhavin Shah 	 
	 	 	Title:  	Managing
Director 	 
	 

	 	 	 	 	 
	 	GUARANTY BANK, as a Lender

 	 
	 	By:  	/s/
Amy
Satsky 	 
	 	 	Name:  	Amy
Satsky 	 
	 	 	Title:  	Vice
President 	 
	 

Second Limited Waiver

 

 

	 	 	 	 	 
	 	REGIONS FINANCIAL CORPORATION, as a Lender

 	 
	 	By:  	/s/ Ronny Hudspeth	 
	 	 	Name:  	Ronny Hudspeth	 
	 	 	Title:  	Sr. Vice President	 
	 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as a Lender

 	 
	 	By:  	/s/ Kimberly Turner	 
	 	 	Name:  	Kimberly Turner	 
	 	 	Title:  	Executive Director	 
	 

	 	 	 	 	 
	 	CITY NATIONAL BANK, a national banking

association, as a Lender

 	 
	 	By:  	/s/ Mary Bowman	 
	 	 	Name:  	Mary Bowman	 
	 	 	Title:  	SVP	 
	 

	 	 	 	 	 
	 	PNC BANK, N.A., as a Lender

 	 
	 	By:  	/s/ Douglas G. Paul	 
	 	 	Name:  	Douglas G. Paul	 
	 	 	Title:  	Senior Vice President	 
	 

	 	 	 	 	 
	 	UBS LOAN FINANCE, LLC, as a Lender

 	 
	 	By:  	/s/ Ina R. Otsa	 
	 	 	Name:  	Ina R. Otsa	 
	 	 	Title:  	Associate Director, Banking Product Services U.S.	 
	 

	 	 	 	 	 
	 	By:  	/s/ Mary E. Evans	 
	 	 	Name:  	Mary E. Evans	 
	 	 	Title:  	Associate Director, Banking Product Services U.S.	 
	 

	 	 	 	 	 
	 	COMERICA BANK, as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Second Limited Waiver

 

 

EXHIBIT A

ACKNOWLEDGMENT AND CONSENT

          Reference is made to the Second Limited Waiver, dated effective as of June 30, 2008 (the
“Limited Waiver”), to and under the Credit Agreement, dated as of July 25, 2007 (as
heretofore amended, supplemented or otherwise modified, the “Credit Agreement”), among
Beazer Homes USA, Inc., a Delaware corporation (the “Borrower”), the several lenders from
time to time parties thereto (the “Lenders”) and Wachovia Bank, National Association, as
agent (in such capacity, the “Agent”). Unless otherwise defined herein, capitalized terms
used herein and defined in the Credit Agreement are used herein as therein defined.

          Each of the undersigned parties to the Guaranty hereby (a) consents to the transactions
contemplated by the Limited Waiver and (b) acknowledges and agrees that the guarantees and grants
of security interests made by such party contained in the Guaranty are, and shall remain, in full
force and effect after giving effect to the Limited Waiver.

	 	 	 	 	 
	GUARANTORS:                    	APRIL CORPORATION

BEAZER ALLIED COMPANIES HOLDINGS, INC.

BEAZER GENERAL SERVICES, INC.

BEAZER HOMES CORP.

BEAZER HOMES HOLDINGS CORP.

BEAZER HOMES INDIANA HOLDINGS CORP.

BEAZER HOMES SALES, INC.

BEAZER HOMES TEXAS HOLDINGS, INC.

BEAZER MORTGAGE CORPORATION

BEAZER REALTY, INC.

BEAZER REALTY CORP.

BEAZER REALTY LOS ANGELES, INC.

BEAZER REALTY SACRAMENTO, INC.

BEAZER/SQUIRES REALTY, INC.

HOMEBUILDERS TITLE SERVICES, INC.

HOMEBUILDERS TITLE SERVICES OF VIRGINIA, INC.

 	 
	 	By: 	/s/ Robert Salomon	 
	 	 	Name:  	Robert Salomon 	 
	 	 	Title:  	Senior Vice President 	 
	 

Second Limited Waiver

 

 

	 	 	 	 	 
	 	ARDEN PARK VENTURES, LLC

BEAZER CLARKSBURG, LLC

BEAZER COMMERCIAL HOLDINGS, LLC

BEAZER HOMES INVESTMENTS, LLC

BEAZER HOMES MICHIGAN, LLC

DOVE BARRINGTON DEVELOPMENT LLC

By:   BEAZER HOMES CORP., its Managing Member

 	 
	 	By:  	/s/
Robert Salomon 	 
	 	 	Name:  	Robert Salomon 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	BEAZER SPE, LLC

By:   BEAZER HOMES HOLDINGS CORP.,
         its Member

 	 
	 	By:  	/s/
Robert Salomon	 
	 	 	Name:  	Robert Salomon 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	BEAZER HOMES INDIANA, LLP

BEAZER REALTY SERVICES, LLC

PARAGON TITLE, LLC

TRINITY HOMES, LLC

By:   BEAZER HOMES INVESTMENTS, LLC,

         its Managing Member or Managing Partner

By:   BEAZER HOMES CORP.,

         its Managing Member

 	 
	 	By:  	/s/
Robert Salomon	 
	 	 	Name:  	Robert Salomon 	 
	 	 	Title:  	Senior Vice President 	 
	 

Second Limited Waiver

 

 

	 	 	 	 	 
	 	BEAZER HOMES TEXAS, L.P.

TEXAS LONE STAR TITLE, L.P.

By:   BEAZER HOMES TEXAS HOLDINGS, INC., 
         its Managing
Partner

 	 
	 	By:  	/s/
Robert Salomon	 
	 	 	Name:  	Robert Salomon 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	BH BUILDING PRODUCTS, LP

By:   BH PROCUREMENT SERVICES, LLC,
          its General
Partner

By:   BEAZER HOMES TEXAS, L.P.,

         its Managing Member

By:   BEAZER HOMES TEXAS HOLDINGS, INC.,
          its General Partner

 	 
	 	By:  	/s/
Robert Salomon	 
	 	 	Name:  	Robert Salomon 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	BH PROCUREMENT SERVICES, LLC

By:   BEAZER HOMES TEXAS, L.P.,

         its Managing Member

By:   BEAZER HOMES TEXAS HOLDINGS, INC., 
          its General
Partner

 	 
	 	By:  	/s/
Robert Salomon	 
	 	 	Name:  	Robert Salomon 	 
	 	 	Title:  	Senior Vice President 	 
	 

Second Limited Waiver

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