0001047469-09-001789 Sample Contracts

FOURTH AMENDMENT TO CREDIT AGREEMENT
Credit Agreement • February 25th, 2009 • Ryland Group Inc • Operative builders • New York

This FOURTH AMENDMENT TO CREDIT AGREEMENT (“Amendment”), dated as of January 22, 2009, among THE RYLAND GROUP, INC., a Maryland corporation (the “Borrower”), the Lenders that are identified on the signature pages hereto and JPMORGAN CHASE BANK, N.A., as Agent (the “Agent”).

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AMENDMENT NO. 1 TO THE AMENDED AND RESTATED EMPLOYMENT AGREEMENT BY AND BETWEEN THE RYLAND GROUP, INC. AND R. CHAD DREIER.
Employment Agreement • February 25th, 2009 • Ryland Group Inc • Operative builders

The Ryland Group, Inc. (the “Company”) and R. Chad Dreier (the “Executive”) wish to amend the Employment Agreement originally dated as of July 1, 2002, and subsequently amended and restated as of April 20, 2005, in order to comply with the final Regulations issued under Internal Revenue Code section 409A.

AMENDMENT NO. 1 TO STOCK UNIT AGREEMENT
Stock Unit Agreement • February 25th, 2009 • Ryland Group Inc • Operative builders

The STOCK UNIT AGREEMENT (the “Agreement”), dated as of [________________], by and between The Ryland Group, Inc. (the “Corporation”), and [__________________] (the “Executive”), is amended to comply with the requirements of Internal Revenue Code section 409A.

AMENDMENT NO. 1 TO SENIOR EXECUTIVE SEVERANCE AGREEMENT.
Senior Executive Severance Agreement • February 25th, 2009 • Ryland Group Inc • Operative builders

The Ryland Group, Inc. (the “Company”) and (the “Executive”) wish to amend the Severance Agreement originally dated as of to comply with the final Regulations issued under Internal Revenue Code section 409A.

AMENDMENT NO. 1 TO SENIOR EXECUTIVE SEVERANCE AGREEMENT.
Senior Executive Severance Agreement • February 25th, 2009 • Ryland Group Inc • Operative builders

The Ryland Group, Inc. (the “Company”) and (the “Executive”) wish to amend the Severance Agreement originally dated as of to comply with the final Regulations issued under Internal Revenue Code section 409A.

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