X0202 4 2006-12-07 0 0000038570 ORLEANS HOMEBUILDERS INC OHB 0001367682 Amann C Dean II C/O ORLEANS HOMEBUILDERS, INC. 3333 STREET ROAD, SUITE 101 BENSALEM PA 19020 0 1 0 0 Executive Vice President Employee Stock Option (Right to Buy) 15.63 2006-12-07 4 A 0 250000 0 A 2016-06-18 Common Stock 250000 250000 D The option grant was approved by the compensation committee of the Issuer's board of directors on June 6, 2006, subject to shareholder approval of an amendment to the Orleans Homebuilders, Inc. 2004 Omnibus Stock Incentive Plan under which the option was granted. The shareholders of the Issuer approved the Amended and Restated Orleans Homebuilders, Inc. 2004 Omnibus Stock Incentive Plan on December 7, 2007. The option vests in four equal annual installments beginning on June 19, 2007 and ending on June 19, 2010. C. Dean Amann II 2007-03-09