0001209028-08-000135 Sample Contracts

FBR CAPITAL MARKETS CORPORATION Form of Stock Option Agreement

Stock Option Agreement • August 21st, 2008 • FBR Capital Markets Corp • Security brokers, dealers & flotation companies • Virginia

• Contract Type
  Stock Option Agreement
• Filed
  August 21st, 2008
• Company
  FBR Capital Markets Corp
• Industry
  Security brokers, dealers & flotation companies
• Jurisdiction
  Virginia

THIS STOCK OPTION AGREEMENT (this “Agreement”) between FBR CAPITAL MARKETS CORPORATION, a Virginia corporation (the “Company”), and __________ (“Participant”), is made pursuant and subject to the provisions of the Company’s 2006 Long-Term Incentive Plan (the “Plan”), a copy of which has been made available to Participant.

Form of August 2008 Performance RSU Award Agreement

Restricted Stock Unit Award Agreement • August 21st, 2008 • FBR Capital Markets Corp • Security brokers, dealers & flotation companies

• Contract Type
  Restricted Stock Unit Award Agreement
• Filed
  August 21st, 2008
• Company
  FBR Capital Markets Corp
• Industry
  Security brokers, dealers & flotation companies

On August , 2008, (the “Grant Date”) you were granted a Restricted Stock Unit (“RSU”) Award pursuant to Section 8 of the 2006 FBR Capital Markets Corporation Long-Term Incentive Plan (the “Plan”). The RSU Award covers RSUs. Each RSU represents the right to receive one share of the common stock of FBR Capital Corporation (“FBRCM” or the “Company”), subject to the terms and conditions set forth herein and in the Plan.

Form of Restrictive Covenant Agreement

Restrictive Covenant Agreement • August 21st, 2008 • FBR Capital Markets Corp • Security brokers, dealers & flotation companies • Virginia

• Contract Type
  Restrictive Covenant Agreement
• Filed
  August 21st, 2008
• Company
  FBR Capital Markets Corp
• Industry
  Security brokers, dealers & flotation companies
• Jurisdiction
  Virginia

From: FBR Capital Markets Corporation (FBR Capital Markets Corporation, Friedman, Billings, Ramsey Group, Inc., their respective affiliates and subsidiaries are collectively referred to in this Agreement as “FBR”)

Form of Amendment to Original 2008 Performance RSU Award Agreement

Performance Rsu Award Amendment • August 21st, 2008 • FBR Capital Markets Corp • Security brokers, dealers & flotation companies

• Contract Type
  Performance Rsu Award Amendment
• Filed
  August 21st, 2008
• Company
  FBR Capital Markets Corp
• Industry
  Security brokers, dealers & flotation companies

On , 2008, (the “Grant Date”) you were granted a Restricted Stock Unit (“RSU”) Award (the “Original Award”) pursuant to Section 8 of the 2006 FBR Capital Markets Corporation Long-Term Incentive Plan (the “Plan”). The Original Award covered RSUs and each RSU represented the right to receive one share of the common stock of FBR Capital Corporation (“FBRCM” or the “Company”), subject to the terms and conditions set forth in the Plan and the agreement evidencing the Original Award.