Common use of Employment by the Company Clause in Contracts

Employment by the Company. The Company shall employ the Executive effective upon the date of Closing (the "Closing Date"), 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 of the Company. 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 positions in the same or similar businesses or enterprises as those of the Company. The Executive will perform such other duties as may be assigned to him from time to time by the Company's President. The Executive will devote all his full working-time and attention to the performance of such duties and to the promotion of the business and interests of the Company. 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 and Holdings.

Employment by the Company. The Company shall employ the Executive effective upon the date of the Closing (the "Closing Date"), for itself and its affiliates, to render exclusive and full-time services to the Company. The Executive will serve in the capacity of Senior Executive Vice President - Chief Financial Officer of the Company. 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 positions in the same or similar businesses or enterprises as those of the Company. The Executive will perform such other duties as may be assigned to him from time to time by the Company's President. The Executive will devote all his full working-time and attention to the performance of such duties and to the promotion of the business and interests of the Company. 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 and Holdings.

Employment by the Company. The Company shall employ the Executive effective upon the date of the Closing (the "Closing Date"), for itself and its affiliates, to render exclusive and full-time services to the Company. The Executive will serve in the capacity of Senior Executive Vice President of the Company. 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 positions in the same or similar businesses or enterprises as those of the Company. The Executive will perform such other duties as may be assigned to him from time to time by the Company's President. The Executive will devote all his full working-time and attention to the performance of such duties and to the promotion of the business and interests of the Company. 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 and Holdings.

Employment by the Company. The Company shall employ the Executive effective upon the date of the Closing (the "Closing Date"), 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 Executive Officer of the Company. 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 positions in the same or similar businesses or enterprises as those of the Company. The Executive will perform such other duties as may be assigned to him from time to time by the Company's PresidentBoard of Directors. The Executive will devote all his full working-time and attention to the performance of such duties and to the promotion of the business and interests of the Company. 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 and Holdings.

Employment by the Company. The Company shall employ hereby employs the Executive effective upon the date of Closing (the "Closing Date")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 of the Companyand Controller. 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 positions 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 President’s Board of Directors. The Executive will devote all his entire full working-working time and attention to the performance of such duties and to the promotion of the business and interests of the Company. 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 Board of directors Directors of any companies, businesses, or charitable organizations, so long as such investments or companies do not compete with the Company and HoldingsCompany, subject to the limitations set forth in Section 7.1.

Employment by the Company. The Company shall employ hereby employs the Executive effective upon the date of Closing (the "Closing Date")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 of the CompanyChief Executive Officer and President. 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 positions 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 President’s Board of Directors. The Executive will devote all his entire full working-working time and attention to the performance of such duties and to the promotion of the business and interests of the Company. 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 Board of directors Directors of any companies, businesses, or charitable organizations, so long as such investments or companies do not compete with the Company and HoldingsCompany, subject to the limitations set forth in Section 7.1.

Employment by the Company. The Company shall employ the Executive effective upon the date of Closing (the "Closing Date")April 12, 1999, 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 of the Company. 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 positions in the same or similar businesses or enterprises as those of the Company. The Executive will perform such other duties as may be assigned to him from time to time by the Company's Board of Directors or President. The Executive will devote all his full working-time and attention to the performance of such duties and to the promotion of the business and interests of the Company. 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 and Holdings.

Employment by the Company. The Company shall employ hereby employs the Executive effective upon the date of Closing (the "Closing Date")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 -Finance, Chief Financial Officer and Treasurer of the Company. 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 positions 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 PresidentBoard of Directors. The Executive will devote all his full working-working time and attention to the performance of such duties and to the promotion of the business and interests of the Company. 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 Board of directors Directors of any companies, businesses, or charitable organizations, so long as such investments or companies do not compete with the Company and HoldingsCompany, subject to the limitations set forth in Section 7.1.

Employment by the Company. The Company shall employ hereby employs the Executive effective upon the date of Closing (the "Closing Date")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 of the Company. NVR Mortgage Finance, Inc. 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 positions 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 President’s Board of Directors or Chief Executive Officer. The Executive will devote all his entire full working-working time and attention to the performance of such duties and to the promotion of the business and interests of the Company. 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 and HoldingsCompany, subject to the limitations set forth in Section 7.1.

Employment by the Company. The Company shall employ hereby employs the Executive effective upon the date of Closing (the "Closing Date")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 of the Companyand Chief Executive Officer. 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 positions 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 President’s Board of Directors. The Executive will devote all his entire full working-working time and attention to the performance of such duties and to the promotion of the business and interests of the Company. 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 Board of directors Directors of any companies, businesses, or charitable organizations, so long as such investments or companies do not compete with the Company and HoldingsCompany, subject to the limitations set forth in Section 7.1.

Employment by the Company. The Company shall employ hereby employs the Executive effective upon the date of Closing (the "Closing Date")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 of the CompanyFinance, 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 positions 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 President’s Board of Directors or Chief Executive Officer. The Executive will devote all his entire full working-working time and attention to the performance of such duties and to the promotion of the business and interests of the Company. 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 and HoldingsCompany, subject to the limitations set forth in Section 7.1.

Employment by the Company. The Company shall employ hereby employs the Executive effective upon the date of Closing (the "Closing Date")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 Chairman of the Board and Chief Executive Officer of the Company. 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 positions 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 PresidentBoard of Directors. The Executive will devote all his full working-working time and attention to the performance of such duties and to the promotion of the business and interests of the Company. 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 Board of directors Directors of any companies, businesses, or charitable organizations, so long as such investments or companies do not compete with the Company and HoldingsCompany, subject to the limitations set forth in Section 7.1.

Employment by the Company. The Company shall employ hereby employs the Executive effective upon the date of Closing (the "Closing Date")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 Chairman of the CompanyBoard. 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 positions 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 President’s Board of Directors. The Executive will devote all his entire full working-working time and attention to the performance of such duties and to the promotion of the business and interests of the Company. 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 Board of directors Directors of any companies, businesses, or charitable organizations, so long as such investments or companies do not compete with the Company and HoldingsCompany, subject to the limitations set forth in Section 7.1.

Employment by the Company. The Company shall employ hereby employs the Executive effective upon the date of Closing (the "Closing Date")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 of NVR Mortgage of the Company. 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 positions 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 PresidentBoard of Directors. The Executive will devote all his full working-working time and attention to the performance of such duties and to the promotion of the business and interests of the Company. 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 Board of directors Directors of any companies, businesses, or charitable organizations, so long as such investments or companies do not compete with the Company and HoldingsCompany, subject to the limitations set forth in Section 7.1.

Employment by the Company. The Company shall employ hereby employs the Executive effective upon the date of Closing (the "Closing Date")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 of the Company. NVR Mortgage Finance, Inc. 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 positions 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 President’s Board of Directors and Chief Executive Officer. The Executive will devote all his entire full working-working time and attention to the performance of such duties and to the promotion of the business and interests of the Company. 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 and HoldingsCompany, subject to the limitations set forth in Section 7.1.