SEC Contract Filing

Filing Date: 2017-06-27

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d389006dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PURCHASE AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This
PURCHASE AGREEMENT (this &#147;<U>Agreement</U>&#148;) is entered into as of June&nbsp;21, 2017 by and between Taylor Morrison Home Corporation, a Delaware corporation (the &#147;<U>Company</U>&#148;) and each of the parties identified on Schedule I
hereto (each a &#147;<U>Seller</U>&#148; and collectively, the &#147;<U>Sellers</U>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Background </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;Each Seller desires to sell to the Company, at the price and upon the terms and conditions set forth in this
Agreement, the number of common units (the &#147;<U>Common Units</U>&#148;) of TMM Holdings II Limited Partnership, a limited partnership formed under the laws of the Cayman Islands (the &#147;<U>Partnership</U>&#148;), and a corresponding number of
shares of the Company&#146;s Class&nbsp;B common stock, $0.00001 par value per share (the &#147;<U>Class</U><U></U><U>&nbsp;B Common Stock</U>&#148;) set forth opposite such Seller&#146;s name on Schedule I hereto (each such Common Unit together
with its corresponding share of Class&nbsp;B Common Stock to be sold by such Seller, a &#147;<U>Purchased Interest</U>&#148; of such Seller); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;The Company desires to purchase each Seller&#146;s Purchased Interests at the price and upon the terms and
conditions set forth in this Agreement (the &#147;<U>Purchases</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">C. &nbsp;&nbsp;&nbsp;&nbsp;The Company is conducting a public
offering (the &#147;<U>Public Offering</U>&#148;) of shares of its Class&nbsp;A common stock (the &#147;<U>Underwritten Shares</U>&#148;) pursuant to an Underwriting Agreement, dated June&nbsp;21, 2017 (the &#147;<U>Underwriting
Agreement</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">D.&nbsp;&nbsp;&nbsp;&nbsp;The Company intends to use the proceeds received from the Public Offering to complete the
Purchases. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">E.&nbsp;&nbsp;&nbsp;&nbsp;The board of directors of the Company has approved the transactions contemplated by this Agreement
for purposes of Rule <FONT STYLE="white-space:nowrap">16b-3</FONT> under the Securities Exchange Act of 1934 (the &#147;<U>Exchange Act</U>&#148;), which approval is intended to exempt each disposition by each Seller of its respective Purchased
Interests to the extent that it or any person affiliated with it may be deemed an officer or director of the Company, including a &#147;director by deputization,&#148; from Section&nbsp;16(b) of the Exchange Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THEREFORE, in consideration of the mutual covenants herein and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the undersigned hereby agree as follows: </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Agreement </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;<U>Purchase</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;At the Closing (as defined below), subject to the satisfaction of the conditions and to the terms set forth in
paragraphs l(b) and l(c) below, each Seller, severally and not jointly, hereby agrees to transfer, assign, sell, convey and </P>

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deliver to the Company 100% of its right, title and interest in and to such Seller&#146;s Purchased Interests, and the Company hereby agrees to purchase such Purchased Interests at a purchase
price per Purchased Interest equal to the per share price at which the Company sells the Underwritten Shares to the underwriters in the Public Offering (the &#147;<U>Per Share Purchase Price</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;The obligations of the Company to purchase the Purchased Interests from any Seller shall be subject to (i)&nbsp;the
closing of the Public Offering, (ii)&nbsp;the representations and warranties of such Seller being true and correct in all material respects as of the Closing and (iii)&nbsp;such Seller having complied in all material respects with all of the
covenants required to be performed by such Seller on or prior to the Closing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;The closing of the sale of the
Purchased Securities (the &#147;<U>Closing</U>&#148;) shall take place immediately following the