AMENDED AND RESTATED EMPLOYMENT AGREEMENT

Exhibit 10.3

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

     THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) is made effective as of the 6th day of August, 2009 (the “Effective Date”) by and between BEAZER HOMES USA, INC., a Delaware corporation (the “Company”), and MICHAEL H. FURLOW, an individual resident of the State of Georgia (“Executive”).

WITNESSETH:

     WHEREAS, the Company and Executive have heretofore entered into an Employment Agreement dated September 1, 2004, as amended (the “Existing Agreement”); and

     WHEREAS, the Company and Executive desire to amend certain provisions of, and to restate in its entirety the Existing Agreement as provided herein.

     NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements herein contained, the Company and Executive hereby agree as follows:

1. Employment and Duties .

     (a) The Company hereby agrees to employ Executive for the Term (as hereinafter defined) as its Division President-Charleston/Myrtle Beach/Savannah. The parties agree that effective on the date hereof Executive shall resign his position as Executive Vice President and Chief Operating Officer of the Company and any other positions he has with the Company’s subsidiaries and affiliates. If requested by the Board of Directors of the Company (the “Board”), Executive shall also serve on the Board without additional compensation, if requested. Executive shall also serve, if requested by the Board, as an executive officer and/or director of any subsidiaries and/or affiliated companies and shall comply with the policy of the Compensation Committee of the Board (the “Compensation Committee”) with regard to retention or forfeiture of any director’s fees. As used in this Agreement, the term “affiliated companies” shall include any company controlled by, controlling or under common control with the Company.

     (b) The Executive shall have such management and oversight responsibilities and authority as are necessary to efficiently administer the affairs of the Division and as are customary of an Division President. All powers herein granted to the Executive are subject to supervisory approval of the President and Chief Executive Officer of the Company (the “CEO”), and the Executive may be given such further reasonably related supervisory duties, powers and prerogatives as may be delegated to him from time to time by said CEO. The Executive shall report exclusively to the CEO and further shall render such advice to the CEO as said CEO may from time to time request.

     (c) During the Term, and excluding any periods of vacation and sick leave to which the Executive is entitled, Executive shall devote substantially all of his business time and efforts to the business and affairs of the Company and, to the extent necessary to discharge the responsibilities assigned to the Executive hereunder, use the Executive’s reasonable best efforts to perform faithfully such responsibilities. In performing such duties hereunder, Executive shall comply with the policies and procedures as adopted from time to time by the Board, shall give the Company the benefit of his special knowledge, skills, contacts and business experience, shall perform his duties and carry out his responsibilities hereunder in a diligent manner.

     (d) During the Employment Term, it shall not be a violation of this Agreement for the Executive to (i) with the prior approval of the CEO in each case, serve on corporate, civic or charitable boards or committees, (ii) with the prior approval of the Board in each case, deliver lectures, fulfill speaking engagements or teach at educational institutions, and (iii) manage personal investments, so long as such activities do not significantly interfere or constitute a

conflict of interest with the performance of the Executive’s responsibilities as an employee of the Company in accordance with this Agreement.

     (e) The principal location for performance of Executive’s services hereunder shall be at the offices of Beazer Homes USA, Inc. in Charleston, South Carolina, subject to reasonable travel requirements during the course of such performance. Executive shall not be required, without his consent, to regularly report to any office of the Company which is located more than thirty-five (35) miles from the Division’s current office location set forth above, provided Executive will be expected to travel to the extent reasonably necessary to fulfill his responsibilities.

2. Employment Term. The term of Executive’s employment hereunder (the “Term”) shall commence effective as of the date hereof and shall end on the second anniversary thereof (the “Expiration Date”), unless sooner terminated as provided herein.

3. Compensation and Benefits

     (a)  Base Salary . During the first year of the Term, the Executive shall receive an annual base salary (“Annual Base Salary”) in the amount of $569,800.00 and in the second year of the Term an Annual Base Salary in the amount of $800,000.00, payable in accordance with the Company’s normal payroll practices (but not less frequently than monthly). During the Term, the Annual Base Salary shall be reviewed by the CEO (for purposes of increase only) at least annually. Any increase in Annual Base Salary shall not serve to limit or reduce any other obligation to the Executive under this Agreement. Annual Base Salary shall not be reduced after any such increase and the term Annual Base Salary as utilized in this Agreement shall refer to Annual Base Salary as so increased. Notwithstanding anything contained herein to the contrary, in the event that the Company shall implement a Company-wide reduction in executive base compensation, then, solely for such purpose and only during the continuation of such Company-wide reduction, the Company shall have the right to reduce the Annual Base Salary then payable hereunder in a manner that is consistent with said Company-wide reduction.

     (b)  Bonuses; Stock Incentive Plans . Executive will be eligible to and shall participate in the Company’s bonus and stock incentive plans at the discretion of the Compensation Committee of the Board. The amount and terms of, and the targets, conditions and restrictions applicable to each bonus or other incentive award shall be subject to the provisions of any such plan and of the applicable award letter duly executed and delivered by the Company.

     (c)  Incentive, Savings and Retirement Plans . During the Term, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other Division Presidents of the Company and its affiliated companies.

     (d)  Welfare Benefit Plans . During the Term, the Executive and/or the Executive’s family, as the case may be, shall be eligible for participation in and shall receive all benefits under welfare benefit plans, practices, policies and programs provided by the Company and its affiliated companies (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other Division Presidents of the Company and its affiliated companies.

     (e) Expenses . The Company will pay or reimburse Executive for all reasonable and necessary out-of-pocket expenses incurred by him in the performance of his duties under this Agreement. Executive shall keep detailed and accurate records of expenses incurred in connection with the performance of his duties hereunder and reimbursement therefore shall be in accordance with policies and procedures to be established from time to time by the Board.

     (f)  Office and Support Staff . During the Term, the Executive shall be entitled to an office or offices of a size and with furnishings and other appointments, and to secretarial and other assistance, consistent with the Executive’s position and title.

     (g)  Vacation . During the Term, Executive shall be entitled to twenty (20) working days of compensated vacation in each fiscal year, to be taken at times which do not unreasonably interfere with the performance of Executive’s duties hereunder. Any unused vacation time from any fiscal year shall be subject to accumulation or forfeiture in accordance with Company policy as in effect from time to time.

     (h)  Company Automobile . Executive currently has use of a Company leased automobile. He may continue use of such car until the Expiration Date, provided however, if during the Term he so elects, he shall be provided with a Company leased automobile generally of the same type and cost as other Division Presidents.

4. Termination of Employment .

     (a)  Death or Disability . The Executive’s employment shall terminate automatically upon the Executive’s death during the Term. If the Disability of the Executive occurs during the Term (pursuant to the definition of Disability set forth below), the Company may give to the Executive written notice in accordance with Section 9(c) of this Agreement of its intention to terminate the Executive’s employment. In such event, the Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such notice by the Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, the Executive shall not have returned to full-time performance of the Executive’s duties. For purposes of this Agreement, “Disability” shall mean the absence of the Executive from the Executive’s duties with the Company on a full-time basis for 120 consecutive business days as a result of incapacity due to mental or physical illness which is determined to be total and permanent by a physician selected by the Company or its insurers and acceptable to the Executive or the Executive’s legal representative.

     (b)  Cause . The Company may terminate the Executive’s employment for Cause. For purposes of this Agreement, “Cause” shall mean:

     (c)  Notice of Termination . Any termination by the Company for Cause shall be communicated by Notice of Termination to the Executive given in accordance with Section 9(c) of this Agreement. For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated and (iii) if the Date of Termination (as defined below) is other than the date of receipt of such notice, specifies the termination date (which date shall be not more than thirty days after the giving of such notice). The failure by the Company to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Cause shall not waive any right of the Company hereunder or preclude the Company from asserting such fact or circumstance in enforcing the Company’s rights hereunder.

     (d)  Date of Termination . “Date of Termination” means (i) if the Executive’s employment is terminated by the Company for Cause, the date of receipt of the Notice of Termination or, subject to applicable cure periods, any later date specified therein, as the case may be, (ii) if the Executive’s employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination and (iii) if the Executive’s employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as the case may be.

5. Obligations of the Company upon Termination .

     (a)  Other Than for Cause . If, during the Term, the Company shall terminate the Executive’s employment other than for Cause: