0001193125-05-027206 Sample Contracts

EMPLOYMENT AGREEMENT
Employment Agreement • February 11th, 2005 • Novastar Financial Inc • Real estate investment trusts • Missouri

This Employment Agreement (“Agreement”) is made and entered into as of the date below, by and between NOVASTAR MORTGAGE, INC. (the “EMPLOYER”) and Dave Pazgan (the “EMPLOYEE”). The EMPLOYER hereby agrees to employ EMPLOYEE and EMPLOYEE hereby accepts employment upon the terms and conditions set forth below.

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NOVASTAR FINANCIAL, INC. EMPLOYMENT AGREEMENT FOR JEFFREY AYERS
Employment Agreement • February 11th, 2005 • Novastar Financial Inc • Real estate investment trusts

Jeffrey Ayers is Senior Vice President, General Counsel and Secretary of the Company. Mr. Ayers has an oral agreement with the Company for “at will” employment which includes the following:

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