Brookfield Homes Corp Watch

from 10-K 5 pages Brookfield Homes Corporation Deferred Share Unit Plan

from 10-K 3 pages Personal and Confidential November 3, 2008 Mr. Paul Kerrigan C/O Brookfield Homes Corporation 181 Bay Street, Suite 300 Toronto, on M5j 2t3 Dear Paul: Further to Our Discussions Related to Your Departure, We Would Like to Outline the Following Financial and Other Arrangements Related to Your Departure From Brookfield Homes Corporation (“Brookfield”): 1. You Will Remain on Our Payroll and Continue to Receive Your Regular Remuneration and Full Benefits in the Normal Way Until November 28, 2008 (The “Departure Date”). 2. the Following Will Be Paid to You With the First Pay Following the Departure Date: A. a Payment of $575,000. B. a $15,000 Payment Into Your Registered Retirement Savings Plan (“Rrsp”). C. Any Outstanding Vacation Entitlement Which Will Be Reconciled and Paid to You From 2008

from 8-K 2 pages 2009 Stock Option Plan

from 8-K 2 pages Re: Management Services Agreement

from 10-K/A 5 pages Brookfield Homes Corporation Deferred Share Unit Plan — 2008

from 10-K 5 pages Brookfield Homes Corporation Deferred Share Unit Plan — 2008

from 10-12B/A ~5 pages Brookfield Homes Corporation Deferred Share Unit Plan

from 10-12B/A ~5 pages Brookfield Homes Corporation Stock Option Plan

from 10-12B/A ~5 pages Bond Indemnity Agreement

from 10-12B/A ~5 pages Guarantee Indemnity Agreement

from 10-12B/A ~5 pages Services Agreement

from 10-12B/A ~5 pages License Agreement

from 10-12B ~5 pages Brookfield Homes Corporation Deferred Share Unit Plan

from 10-12B ~5 pages Brookfield Homes Corporation Stock Option Plan

from 10-12B ~5 pages Bond Indemnity Agreement

from 10-12B ~5 pages Guarantee Indemnity Agreement

from 10-12B ~5 pages Services Agreement

from 10-12B ~5 pages License Agreement