FIRST AMENDMENT TO EMPLOYEE ADMINISTRATION AGREEMENT
Exhibit 10.19
FIRST AMENDMENT TO EMPLOYEE ADMINISTRATION AGREEMENT
THIS FIRST AMENDMENT TO EMPLOYEE ADMINISTRATION AGREEMENT (this “Amendment”) is entered into as of November 7, 2013 by and among AMERICAN HOMES 4 RENT, LLC, a Delaware limited liability company (“AH LLC”), AMERICAN HOMES 4 RENT, a Maryland real estate investment trust (the “Company”), American Homes 4 Rent, L.P. (the “Operating Partnership”), American Homes 4 Rent Advisor, LLC (the “Advisor”), American Homes 4 Rent Management Holdings, LLC (the “Property Manager”), and MALIBU MANAGEMENT, INC., a California corporation (“MMI”). AH LLC, the Company, the Operating Partnership, the Advisor, the Property Manager and MMI are sometimes referred to in this Agreement as a “Party” or collectively as the “Parties.”
RECITALS
WHEREAS, the Parties are parties to that certain Employee Administration Agreement with an Effective Date of June 10, 2013 (the “Agreement”). Except as otherwise expressly provided in this Amendment, all capitalized terms used herein shall have the meanings as set forth in the Agreement.
WHEREAS, the Parties desire to extend the Term of the Agreement by one (1) year and modify the Agreement consistent herewith.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants and premises contained herein and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:
1. Incorporation of Recitals. The parties hereby incorporate into the terms of this Amendment each and every one of the Recitals above, as though fully set forth herein.
2. Term. The Parties hereby agree to extend the Term of the Agreement for a period of one (1) year such that the Term will end on December 31, 2014, in accordance with Section 3.1 of the Agreement.
3. Notices. Notwithstanding Section 12.1 of the Agreement, all notices, communications and deliveries under the Agreement will be made in writing signed by or on behalf of the Party making the same, will specify the Section under the Agreement pursuant to which it is given or being made, and will be delivered personally or sent by registered or certified mail (return receipt requested) or by overnight delivery (with evidence of delivery and postage and other fees prepaid) as follows:
| If to MMI: | Malibu Management, Inc. 00000 Xxxxxxx Xxxxx Xxxxxxx, Xxxxx 000 Xxxxxx, XX 00000 Attention: President | |
| If to AH LLC: |
00000 Xxxxxx Xxxx, Xxxxx 000 Xxxxxx Xxxxx, XX 00000 Attention: Chief Executive Officer | |
| If to the Company, the Operating Partnership, the Advisor or the Property Manager: | 00000 Xxxxxx Xxxx, Xxxxx 000 Xxxxxx Xxxxx, XX 00000 Attention: Chief Legal Officer | |
| With a copy to: | Xxxxx Lovells US LLP 000 Xxxxxxxxxx Xxxxxx, XX Xxxxxxxxxx, XX 00000 Attention: Xxxxx X. Xxxxxx | |
4. Ratification. Except as expressly set forth above and except that all provisions in the Agreement which are inconsistent with the foregoing are hereby amended so as to be consistent with the foregoing, the Agreement shall in all other particulars, terms and conditions remain in full force and effect.
5. Conflict. The parties agree that if there is any conflict between this Amendment and the Agreement, this Amendment shall control.
6. Counterparts. This Amendment may be executed in any number of identical counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
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IN WITNESS WHEREOF, the Parties have caused this Amendment to be duly executed, as of the Effective Date.
| AMERICAN HOMES 4 RENT | ||
| By: | /s/ Xxxxx X. Xxxxxxxx | |
| Name: | Xxxxx X. Xxxxxxxx | |
| Title: | Chief Executive Officer | |
| AMERICAN HOMES 4 RENT, L.P. | ||
| By: AMERICAN HOMES 4 RENT, its General Partner | ||
| By: | /s/ Xxxxx X. Xxxxxxxx | |
| Name: | Xxxxx X. Xxxxxxxx | |
| Title: | ||
| AMERICAN HOMES 4 RENT ADVISOR, LLC | ||
| By: | /s/ Xxxxx X. Xxxxxxxx | |
| Name: | Xxxxx X. Xxxxxxxx | |
| Title: | Manager | |
| AMERICAN HOMES 4 RENT MANAGEMENT HOLDINGS, LLC | ||
| By: | /s/ Xxxxx X. Xxxxxxxx | |
| Name: | Xxxxx X. Xxxxxxxx | |
| Title: | Chief Executive Officer | |
| MALIBU MANAGEMENT, INC. | ||
| By: | /s/ Xxxxx Xxxxxx-XxXxxxxx | |
| Name: | Xxxxx Xxxxxx-XxXxxxxx | |
| Title: | Vice President | |
| AMERICAN HOMES 4 RENT, LLC | ||
| By: | /s/ Xxxxxx Xxxxxx | |
| Name: | Xxxxxx Xxxxxx | |
| Title: | Chief Financial Officer | |
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