X0201 3 2003-07-28 0 0000038570 ORLEANS HOMEBUILDERS INC OHB 0001258356 FITZSIMMONS ROBERT C/O ORLEANS HOMEBUILDERS INC 333 STREET ROAD SUITE 101 BENSALEM PA 19020 0 0 0 1 President, Masterpiece Homes Common Stock 30000 D Stock Option (Right to Buy) 10.64 common stock 45000 D Put Option (Right to Buy) 8 2003-07-28 common stock 30000 D The option to purchase shares shall vest in three equal installments in December 31, 2004, 2005 and 2006. None Earlier of (i) December 31, 2006 or (ii) date which is 30 days after termination of Fitzsimmons' employment with Masterpiece Homes, Inc. as specified in his employment agreement. Robert Fitzsimmons 2003-08-07