Exhibit 10.4
EXTENSION AND MODIFICATION
OF
EMPLOYMENT AGREEMENT
THIS EXTENSION AND MODIFICATION OF
EMPLOYMENT AGREEMENT (the “Extension”) is entered into
as of April 30, 2007 by and between Hearthside Homes, Inc., a
California corporation (“Employer”), which is an
indirect wholly-owned subsidiary of California Coastal Communities,
Inc., a Delaware corporation (“Parent”), and JOHN W.
MARSHALL (“Executive”).
W I T N E S S E T
H:
WHEREAS, Executive and Employer have
entered into an Employment Agreement dated as of August 8, 2005
(the “Employment Agreement”), through which Executive
has provided various executive capacities to Employer and Employer
has obtained various executive services by Executive;
and
WHEREAS, Employer desires to obtain
the benefit of continued service from Executive by extending the
Employment Agreement, and Executive desires to render continued
services to Employer by extending the Employment Agreement pursuant
to the terms and conditions of this Extension;
NOW, THEREFORE, in consideration of
the foregoing recitals and the mutual promises and covenants herein
contained, the parties agree as follows:
SECTION
1.
CONTINUING EFFECTIVENESS OF EMPLOYMENT AGREEMENT .
Except to the extent of any modification made pursuant to the terms
of this Extension, the Employment Agreement shall conti
