Exhibit 10.9

2008 EQUITY PARTICIPATION PLAN OF LTC PROPERTIES, INC.  NONSTATUTORY STOCK OPTION AGREEMENT

LTC
Properties, Inc., a Maryland corporation (the "Company"), and [Name], an employee of the Company or one of its Subsidiaries (the "Optionee"), for good and valuable
consideration the receipt and adequacy of which are hereby acknowledged and intending to be legally bound hereby, agree as follows:



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IN
WITNESS WHEREOF, the Company and the Optionee have executed this Agreement as of the Date of Grant.

LTC PROPERTIES, INC.By:Name:Title:OPTIONEE:[Name]


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EXHIBIT A2008 EQUITY PARTICIPATION PLAN  OF LTC PROPERTIES, INC.  EXERCISE NOTICE

LTC
Properties, Inc.
[Address]

1.Exercise of Option.Effective as of today,
                                    , the undersigned ("Purchaser")
hereby elects to
purchase                        shares (the "Shares") of the Common Stock of LTC Properties, Inc. (the "Company") under and
pursuant to the 2008 Equity Participation Plan of LTC
Properties, Inc. (the "Plan") and the Nonstatutory Stock Option Agreement
dated                                    , (the "Option Agreement").
Subject to adjustment, if any, in accordance with Section 12.3
of the Plan, the purchase price for the Shares shall be $            , as required by the Option Agreement.

2.Delivery of Payment.Purchaser herewith delivers to the Company the full purchase price for the Shares.

3.Representations of Purchaser.Purchaser acknowledges that Purchaser has received, read and understood the
Plan and Option Agreement and agrees to abide by and be bound by their terms and conditions.

4.Rights as Stockholder.Until the issuance (as evidenced by the appropriate entry on the books of the Company
or of a duly authorized transfer agent of the Company) of the Shares, no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the Shares underlying the
Option, notwithstanding the exercise of the Option. The Shares so acquired shall be issued to the Optionee as soon as practicable after exercise of the Option. No adjustment shall be made for a
dividend or other right for which the record date is prior to the date of issuance, except as provided in Section 12.3 of the Plan.

5.Tax Consultation.Purchaser understands that Purchaser may suffer adverse tax consequences as a result of the
Purchaser's purchase or disposition of the Shares. Purchaser represents that Purchaser has consulted with any tax consultants Purchaser deems advisable in connection with the purchase or disposition
of the Shares and that Purchaser is not relying on the Company for any tax advice.

6.Entire Agreement; Governing Law.The Plan and Option Agreement are incorporated herein by reference. This
Agreement, the Plan and the Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and
agreements of the Company and Purchaser with respect to the subject matter hereof, and may not be modified adversely to the Purchaser's interest except by means of a writing signed by the Company and
Purchaser. This agreement is governed by the internal substantive laws, but not the choice of law rules, of Maryland.

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Submitted by:

Accepted by:PURCHASER:

LTC PROPERTIES, INC.Signature

ByPrint Name

ItsAddress:

Address:[Address]


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