Amendment to Employment Agreement Recitals (May 16th, 2017)
WHEREAS, Philippe Lord ("Executive") is currently employed by Meritage Homes Corporation (the "Company") as its Executive Vice President - Chief Operating Officer under that certain Employment Agreement (the "Agreement") executed by and between the Company and Executive on May 15, 2017; and
Employment Agreement (February 17th, 2017)
This EMPLOYMENT AGREEMENT (the "Agreement") is entered into February 14, 2017 and made effective as of January 1, 2017 (the "Effective Date"), by and between Meritage Homes Corporation, a corporation organized under the laws of the State of Maryland (the "Company"), and Philippe Lord ("Executive") (the Company and Executive are sometimes collectively referred to herein as the "Parties" and individually as a "Party"), all with reference to the following:
Addendum to Employment Letter Dated: Effective February 16, 2016 (February 22nd, 2016)
Reference is made to that certain letter agreement (the "Letter Agreement"), dated April 1, 2015, concerning the employment and compensation of Phillippe Lord, the Company's Executive Vice President and Chief Operating Officer ("Employee"). Employee and the Company have agreed to modify certain compensation and bonus provisions as set forth in this Addendum. Except as specifically expressed in this Addendum, the Letter Agreement shall remain in full force and effect. To the extent there is any contradiction or inconsistency between the terms of this Addendum and the terms of the Letter Agreement, the terms and intended effect of this Addendum shall control.