{"id":39638,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/employment-agreement-the-ryland-group-inc-and-alan-p.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-the-ryland-group-inc-and-alan-p","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-the-ryland-group-inc-and-alan-p.html","title":{"rendered":"Employment Agreement &#8211; The Ryland Group Inc. and Alan P. Hoblitzell Jr."},"content":{"rendered":"<pre>                             THE RYLAND GROUP, INC.\n\n\n                              EMPLOYMENT AGREEMENT\n\n   This AGREEMENT is made as of this 30th day of September, 1993, between THE\nRYLAND GROUP, INC., a Maryland corporation (the 'Corporation'), and ALAN P.\nHOBLITZELL, JR. (the 'Executive').\n\n   The Executive has served the Corporate as Executive Vice President, Chief\nAdministrative Officer, and Chief Financial Officer since February, 1991.  On\nAugust 2, 1993, the Executive was named Acting Chief Operating Officer to serve\nat the pleasure of the Board of Directors of the Corporation (the 'Board')\npending selection of a Chief Executive Officer.  The parties wish to confirm\ntheir arrangements regarding these matters, and in consideration of the\nfollowing covenants and representations agree as follows:\n\n   1. FULL-TIME EMPLOYMENT OF EXECUTIVE.\n\n      a. DUTIES AND STATUS.\n\n            (1)  At the pleasure of the Board, the Executive shall continue to\nserve as Executive Vice President, Chief Administrative Officer, and Chief\nFinancial Officer for the employment period as defined in paragraph 3a and the\nExecutive accepts such continued employment on the terms and conditions set\nforth in the Agreement.  In addition, the Executive shall continue to service as\nActing Chief Operating Officer at the pleasure of the Board.\n\n            (2)  During the employment period, the Executive shall devote his\nfull time efforts to the business of the Corporation.\n\n\n\n      b.    COMPENSATION AND GENERAL BENEFITS.\n\n            (1)  From August 1, 1993 through December 31, 1994 the Corporation\nshall pay the Executive an annual base salary of $420,000 payable periodically\nbased upon current corporate policy.  From January 1, 1995 until June 30, 1996\nthe Corporation will pay the Executive a base salary commensurate with the job\nthat he is performing but no less than $300,000 annually.  The base salary shall\nbe reviewed (but not necessarily increased) based on corporate policy and the\nExecutive's contributions to the enterprise.\n\n            (2)  In addition to the salary provided by subparagraph (1) of this\nparagraph b, the Corporation shall provide the benefits and perquisites\ngenerally provided by the Corporation to officers of his rank and salary grade.\n\n   2. COMPETITION; CONFIDENTIAL INFORMATION.\n\n   The Executive and the Corporation recognize that, due to the nature of his\nengagements hereunder and the relationship of the Executive to the Corporation,\nthe Executive will have access to, and may assist in developing, confidential\nand proprietary information relating to the business and operations of the\nCorporation and its affiliates.  The Executive acknowledges that disclosure of\nsuch information or its use by others could cause substantial loss to the\nCorporation.  The Executive and the Corporation also recognize that an important\npart of the Executive's duties will be to develop good will for the Corporation\nthrough his personal contact with others having business\n\n\n                                      - 2 -\n\n\n\nrelationships with the Corporation and its affiliates, and that there is a\ndanger that this good will, a proprietary asset of the Corporation and its\naffiliates, may follow the Executive if and when his relationship with the\nCorporation is terminated.  The Executive accordingly agrees as follows:\n\n      a. NON-COMPETITION.  During the employment period, as defined in Section\n3a, the Executive will not, directly or indirectly, either individually or as\nowner, partner, agent, employee, consultant or otherwise, except for the account\nof and on behalf of the Corporation or its affiliates, engage in any activity\ncompetitive with the business of the Corporation or its affiliates, interfere\nwith the Corporation's business or relations with its employees, customers or\naccounts, nor will he, in competition with the Corporation or its affiliates,\nsolicit or otherwise attempt to establish any business relationships with any\nperson, firm or corporation which was, at any time during the employment period,\na customer or supplier of the Corporation.  However, nothing in this Section 2\nshall be construed to prevent the Executive from owning, as an investment, not\nmore than 5% of a class of equity securities issued by any competitor of the\nCorporation and publicly traded and registered under Section 12 of the\nSecurities Exchange Act of 1934.\n\n      b. CONFIDENTIAL INFORMATION.  During and at all times after the expiration\nof the employment period, the Executive (1) will not disclose any trade secrets,\ncustomer lists, production processes, or other information that is treated as\nconfidential or proprietary by the Corporation or its affiliates and that is now\n\n\n                                      - 3 -\n\n\n\nknown to him or that hereafter may become known to him as a result of his\nemployment or association with the Corporation and (2) will not at any time,\ndirectly or indirectly, disclose any such information to any person, firm,\npartnership, corporation or other entity, or use, reproduce, copy or disclose\nthe same in any way other than in connection with the business of the\nCorporation or its affiliates.\n\n      c. CORPORATION'S REMEDIES FOR BREACH.  It is recognized that damages in\nthe event of breach of this Section 2 by the Executive would be difficult, if\nnot impossible, to ascertain, and its is, therefore, agreed that the\nCorporation, in addition to and without limiting any other remedy or right it\nmay have, shall have the right to an injunction or other equitable relief in any\ncourt of competent jurisdiction, enjoying any such breach.  The existence of\nthis right shall not preclude any other rights and remedies at law or in equity\nthat the Corporation may have.\n\n   3. EMPLOYMENT PERIOD.\n\n      a. DURATION.  The employment period shall continue until June 30, 1996\nunless this Agreement is previously terminated by (1) the death or substantially\ntotal disability of the Executive, (2) mutual agreement, (3) action of the\nCorporation for justifiable cause as provided in paragraph 3b, (4) action of the\nCorporation or notice by the Executive as provided in paragraph 3c, or (5) the\nvoluntary resignation of the Executive upon 30 days prior written notice.\n\n\n                                      - 4 -\n\n\n\n      b. PERFORMANCE AND TERMINATION - EMPLOYMENT PERIOD.  Subject to the\nperformance of the covenants and agreements made by the Corporation herein, the\nExecutive will perform his duties during the employment period in good faith and\nwill observe faithfully the covenants and agreements made by him herein.  The\nCorporation shall not terminate the employment of the Executive during the\nemployment period except for substantial and serious cause involving dishonesty,\nviolation of any Corporation rule, regulation, or policy, gross negligence,\nfailure or inability of the Executive to perform his duties hereunder, or breach\nof express obligations of this Agreement.  The termination of the Executive's\nemployment for reasons other than those specified in the preceding sentence\nshall be deemed to be a termination of employment without justifiable cause.\nAfter such termination without cause, the Executive shall be immediately\nentitled to the severance pay and benefits provided in Section 3c of this\nAgreement.  A 'material breach of express obligations of this Agreement' by the\nExecutive shall not be deemed to have occurred hereunder unless written notice\nthereof shall have been given by the Corporation to the Executive and the\nExecutive shall have failed to cure such breach or default within 30 days after\nhe received the notice.\n\n      c. EXECUTIVE'S REMEDIES FOR BREACH.\n\n         (1)   This Agreement shall be immediately terminated without further\nnotice if the Corporation terminates the employment of the Executive without\njustifiable cause. This Agreement may also be terminated upon written notice\nfrom the Executive to the\n\n\n                                      - 5 -\n\n\n\nChairman of the Board if:  (i) the Corporation shall fail to observe or perform\nany covenant to be observed or performed by the Corporation, or  (ii) the\nCorporation shall materially change the Executive's duties so that he is no\nlonger performing the functions of Executive Vice President, Chief\nAdministrative Officer, or  (iii) the Corporation shall otherwise materially\nbreach this Agreement.\n\n         (2)   If this Agreement is terminated for any reason identified in this\nsubsection, all rights, duties and obligations of both parties shall cease\nexcept that the provisions of Section 2b of this Agreement shall remain in force\nand except that the Corporation shall be obligated to  (i) provide severance pay\nto the Executive in an amount equal to his base salary through June 30, 1996\npayable, at the option of the Executive, in a lump sum or in installments over a\nperiod of time to be designated by the Executive, and  (ii) continue all insured\nbenefits for the Executive and his dependents for a period of one year or until\nthe Executive obtains substantially equivalent employment, whichever occurs\nfirst, but in no event beyond June 30, 1996.  The parties agree that, because\nthere can be no exact measure of the damage which would occur to the Executive\nas a result of a breach by the Corporation, the payments and benefits shall be\ndeemed to constitute liquidated damages and not a penalty for the Corporation's\nbreach, and the Corporation agrees that the Executive shall not be required to\nmitigate his damages.  However, in the event the Executive does mitigate his\ndamages, the amount of such\n\n\n                                      - 6 -\n\n\n\nmitigation shall reduce the amount of payments and benefits receivable by the\nExecutive pursuant to this Agreement.\n\n   4. WAIVERS.\n\n   The waiver by the Corporation of a breach by the Executive of any provision\nof this Agreement shall not operate or be constructed as a waiver of any\nsubsequent breach by him.\n\n   5. BINDING EFFECT.\n\n   The rights and obligations of the Corporation under this Agreement shall\ninure to the benefit of and shall be binding upon the successors and assigns of\nthe Corporation.\n\n   6. ENTIRE AGREEMENT.\n\n   Except as otherwise herein provided, this Agreement constitutes the entire\nunderstanding of the Executive and the Corporation with respect to the subject\nmatter hereof and supersedes any and all prior understandings, written or oral.\nThis Agreement may not be changed or canceled orally, but only by an instrument\nin writing signed by the parties.  This Agreement shall be governed by the laws\nof the State of Maryland and the invalidity or unenforceability of any\nprovisions hereof shall in no way affect the validity or enforceability of any\nother provision.\n\n   IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as\nof the date first above written.\n\nATTEST:                             THE RYLAND GROUP, INC.\n\n\n\/s\/ Veronica Gambel                 By: \/s\/ Andre Brewster\n- ------------------------               -------------------------\n                                       Andre Brewster, Chairman\n\nWITNESS:\n\n\n\/s\/ Robert M. Paul                  \/s\/ Alan P. Hoblitzell, Jr. (SEAL)\n- ------------------------            ----------------------------\n                                    Alan P. Hoblitzell, Jr.\n\n\n                                      - 7 -\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8733],"corporate_contracts_industries":[9480],"corporate_contracts_types":[9539,9544],"class_list":["post-39638","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-ryland-group","corporate_contracts_industries-construction__contractors","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/39638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=39638"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39638"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39638"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}