0001104659-06-049876 Sample Contracts

AFFORDABLE RESIDENTIAL COMMUNITIES INC.
Non-Qualified Stock Option Agreement • July 31st, 2006 • Affordable Residential Communities Inc • Real estate investment trusts • Maryland

THIS NONQUALIFIED STOCK OPTION AGREEMENT (the “Agreement”), dated as of , 2006, is made by and between Affordable Residential Communities Inc., a Maryland corporation (the “Company”), and (the “Optionee”).

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