0001437749-18-014179 Sample Contracts

Contract
Performance Share Unit Grant Agreement • August 1st, 2018 • MDC Holdings Inc • Operative builders • Delaware

The Compensation Committee (the “Committee”) of M.D.C. Holdings, Inc., a Delaware corporation (the “Company”), awards performance share units (“PSUs”) under the Company’s 2011 Equity Incentive Plan (the “Plan”) to the Employee named below. This Performance Share Unit Grant Agreement (the “Agreement”) evidences the terms and conditions of the Company’s award and the PSUs constitute “qualified performance based compensation and other stock-based awards” under Sections 9 and 10 of the Plan.

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Contract
Stock Option Agreement • August 1st, 2018 • MDC Holdings Inc • Operative builders • Delaware

This Option is also subject to the terms of the Optionee’s Employment Agreement with the Company and the Clawback Policy adopted by the Corporate Governance/Nominating Committee on January 14, 2015.

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