0001193125-05-019992 Sample Contracts

] STOCK OPTION AGREEMENT
Stock Option Agreement • February 4th, 2005 • Novastar Financial Inc • Real estate investment trusts

[ ] STOCK OPTION AGREEMENT, dated as of the day of , , by and between NovaStar Financial, Inc., a Maryland corporation (the “Company”), and , an individual employee of the Company or any Subsidiary (the “Optionee”).

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NOVASTAR FINANCIAL, INC. PERFORMANCE CONTINGENT DEFERRED STOCK AWARD AGREEMENT (Shares Issued Upon Achieving Performance Objective)
Performance Contingent Deferred Stock Award Agreement • February 4th, 2005 • Novastar Financial Inc • Real estate investment trusts • Maryland

This Agreement is made as of the [ ]th day of [ ], [200 ], by and between NovaStar Financial, Inc., a Maryland corporation (the “Corporation”), and [ ] (“Participant”).

NOVASTAR FINANCIAL, INC. RESTRICTED STOCK AWARD AGREEMENT (Shares Subject to Forfeiture)
Restricted Stock Award Agreement • February 4th, 2005 • Novastar Financial Inc • Real estate investment trusts • Maryland

This Agreement is made as of the [ ]th day of [ ], [200 ], by and between NovaStar Financial, Inc., a Maryland corporation (the “Corporation”), and [ ] (“Participant”).

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