0000950123-05-005318 Sample Contracts

STOCK OPTION AWARD AGREEMENT pursuant to the FIRST ALBANY COMPANIES INC. 2003 NON-EMPLOYEE DIRECTORS STOCK PLAN
Stock Option Award Agreement • April 29th, 2005 • First Albany Companies Inc • Security brokers, dealers & flotation companies • New York

THIS STOCK OPTION AWARD AGREEMENT (this “Agreement”), dated as of the Grant Date specified above, is entered into by and between First Albany Companies Inc., a New York corporation (the “Company”), and the Optionee specified above, pursuant to the First Albany Companies Inc., 2003 Non-Employee Directors Stock Plan, as in effect and as amended from time to time (the “Plan”);

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