Option Grants Sample Contracts

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Amendment to Option Grants
Option Grants • June 8th, 2012 • Hovnanian Enterprises Inc • Operative builders

Capitalized terms used herein without definition have the meanings assigned to such terms under the Company’s equity incentive plan under which the Option was granted or in the relevant award agreement, as applicable. The following provision shall be deemed to be incorporated into each relevant outstanding stock option award agreement, effective as of April 28, 2012:

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